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    Santa Clarita and Greater Los Angeles Foreclosure Update

    During the past Foreclosure Market and bank owned real estate market in the Santa Clarita Valley CA – After the collapse of the housing market during the end of 2006 and beginning of 2007, we had a lot to speak about concerning the foreclosed and bank owned homes. We quite the inventory or distressed real estate in the SCV and surrounding communities within Southern California.

    Short sales, those homes where the homeowners experienced some sort of hardship, including getting the “pink” from their employers were aplenty.

    (pink an industry term meaning:¬† – to be served with a document indicating being laid off from a person’s employer)

    There were other short sales (short pays) where the homeowners were investors and had quite the portfolio indicating no doubt in the veracity of the current housing market. They apparently were looking for the stars when they should have been watching where they were stepping.

    When the collapse happened, it’s true that most home loans stopped. The banks required a moment to re-evaluate. 100% financing was over after a few months and there was a new client. The one who was wanting to be represented with the home they weren’t able(or willing to) make payments on.

    The “other new” client that arose were those who wanted to invest and those who were in the process of buying when the real estate market collapsed.

    We had the distressed sellers, banks and those who had their reasons for investing in real estate, knocking down our doors.

    There were a lot of people that were hurt by the last distressed housing market. Today, most whom we assisted with short selling their homes are back and homeowners again. This time they have more skin in the game.

    Skin being related to a larger down payment on the home they are living in. As I stated the 100% financing crowd is a thing of the past. Now they need 3.5% for an FHA loan and the home has to pass several tests or be on an FHA approved list. Most home buyers can purchase with varying levels of conventional lending models. Including 3, 5, 10, 15 and 20%+ down payment. VA – a home buyer can utilize a Veterans Administration Loan to buy real estate if they qualify and had an honorable discharge from military service.

    The bottom line is in the heyday of the Santa Clarita foreclosure housing market, there were certain strategies that we used to assist our foreclosure and bank owned buyers when wanting to buy distressed real estate.

    I’m Connor with honor and I’m glad to have been able to bring you this foreclosure and bank owned housing market update. During our time representing any sort of real estate buyer, we always do a foreclosure and distressed¬†inventory search throughout the home buying process. This is because of how important I deem the purchase being in the best possible light for any of our real estate clientele.

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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.

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