Prepare for another dip in home prices

    It’s No Secret that I read the news when I’m working out in the morning.  Between my bouts with “sucking wind” and sweat in my eyes, I can view the latest subscriptions that I have coming into my Google Reader.The BEST Santa Clarita Lender

    Here are some of the Top Headlines and I will post and provide commentary for!

    Wells Fargo is doing better than most Big Banks with their Loan Mod’s and with their Homeowners staying current!!!

    Compared to the other Large Banks, these stats are quite impressive.  I have not had a Wells Fargo “promise”  letter go bad when they were helping some of our Short Sale and Loan Mod Clients.  I cannot say that for all the banks that our clients have their mortgages with 🙁

    Hope Now reports short sales, loan mods and principal reductions are up!

    Know your rights when short selling or getting advice about short selling.  Real Estate agents have a vested interest in Short Selling real estate – it’s called their commission.  That is why we don’t just have you take our word for it – we have other sources that are not members of our team that advise our clients as well.  In addition, Loan Modifications – be careful – make sure you get the “promises” in writing from your bank(s).  Principal Reductions – Same rule applies, get everything in writing.

    California Homeowner Bill of Rights approved!

    It seems that we may have sharpened both sides of the blade a bit too much.  While this will protect CA homeowners – it also may speed up the “Foreclosure” process.  Have a read and see what I’m talking about.

    ROBO signing rulings may speed up the Foreclosure Process!

    We have some of our clients that have not paid their mortgage for over a year with no sign of a Notice of Default being filed.  That all may end soon according to the latest news about Robo signing.  It was last week when I was noticing that several states have judged the “robo signing”, not as some may have thought they would.  It was judged as not being a “big deal”. (beware, cop vernacular at work!!!)

    Further Price Declines in Real Estate….

    Have we seen the bottom of the real estate market?  No, not yet according to the article starting this rant.  Currently, we have a real problem with our local Santa Clarita real estate inventory.  All of our clients are feeling it, other’s clients are also feeling it.  One thing is for certain, with the lack of new “for sale” inventory – prices will continue to climb unless Interest Rates are increased.  The Interest Rates increasing does not seem like something that will happen, for the time being.

    However, it’s no secret that the banks are controlling the release of their foreclosure properties.  How long do you think that will last?

    Be Safe – get a GREAT real estate agent to represent you and call us if we can help.

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    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.

    2 Responses to “Prepare for another dip in home prices”

    • Realtors

      Written on

      It is the same everywhere. Santa Clarita has a lot of room to go drop in regards to the home prices. Some portions of Los Angeles are still experiencing high drops in pricing. Many buyers are holding off on purchasing the homes, but the question remains, should they hold off, if the interest rates are eventually due to rise?

      Reply
      • paris911

        Written on

        Great Question – I’d say no. I have a feeling there is not much FAT left to trim from the already low home prices. However, we can also look at it from another angle. With the depressed economy coupled with unemployment – if they raise mortgage interest rates – the home prices will have to fall further… Thanks for commenting – your comment is approved !!!

        Reply

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