Good Day everyone – I’m your host of the daily real estate radio show for the Entire Santa Clarita Valley Cities. In fact, you will see that we have a 7 day a week format and talk about the local markets on every day, with little exception.
Before we get into the “shadow inventory” rumors that I will dispel, I’d like to get into the radio shows we have concluded to this point during this week.
Are Foreclosures really better deals?
Santa Clarita housing Market updates:
Santa Clarita Foreclosure Update
Our Wednesday Foreclosure Update for the Santa Clarita Valley Cities includes the cities of Acton, Agua Dulce, Castaic, Canyon Country, Newhall, Saugus, Stevenson Ranch and Valencia.
In the City of Santa Clarita – including the Cities of Acton, Agua Dulce, Valencia, Saugus, Newhall, Castaic and Canyon Country – I am currently monitoring 291 distressed real estate listings, whereas a majority of those are not on the market for sale.
These properties consist of the following distressed profiles:
- 118 properties are in the Pre Foreclosure status in the Santa Clarita Valley Cities.
- 76 of these homes, condos and townhomes in the SCV are headed to the auction block.
- 79 are Bank Owned listings (reo’s), real estate owned, in the Santa Clarita Valley
- 18 of the Santa Clarita homes have been sold to a third at a trustee’s sale – where they will be coming back onto the market, being offered for sale, in most cases.
Stevenson Ranch Foreclosure Update
The City of Stevenson Ranch, while is is located within the Santa Clarita Valley, the distressed real estate numbers are tabulated separately when I run the Numbers in our Foreclosure Search Engine.
Here is how Stevenson Ranch is stacking up compared with the other cities in the Santa Clarita Valley:
- I have been monitoring 27 distressed Stevenson Ranch real estate listings.
- Of these I am keeping tabs on 16 which are pre foreclosures in Stevenson Ranch.
- 3 of the homes I have been keeping an eye on in Stevenson Ranch are headed to the auction.
- 7 of the Stevenson Ranch real estate listings are owned by banks.
- As far as those that have been sold to a third at a trustee’s sale, I have three I have been monitoring.
Shadow Inventory Rumors
It’s easy to write something that knee jerks people into talking about it. Such is the case with Shadow Inventory.
This is the term that is used to talk about some “secret” distressed real estate that is going to hit the market causing advantages to real estate buyers of the world.
These “advantages” are usually in the “price” as they pertain to real estate listings and the home prices.
While you can see we have some “shadow” inventory in the Santa Clarita Valley. There is no means enough units that will cause this current market harm.
Prices will be steadily increasing in value with stagnant points throughout the rest of this year and into next.
The next time you hear “shadow” inventory and then someone wants you to give up who you are – be careful!
As you can see – there are homes and properties that are in some semblance of distress. Contact my Team when you are ready for us to take the helm and assist you with your real estate needs.