We are looking at the Foreclosure and REO data in all of the Santa Clarita Valley Cities. On this page you will see some of the latest research we pulled for all the SCV cities and the foreclosure recap therein.
Pre Foreclosures – The Green Line – indicating the numbers of homes that have Notice of Defaults filed on them.
Scheduled for Sale – The Blue Line – Indicating the numbers of home that are headed to auction.
Bank Owned – The Red Line – Indicating the numbers of homes that are currently Bank Owned (Real estate owned – REO) inventory.
An interesting note can be made if you watch the green line, the pre foreclosures (nod filings), follow the line from left to right. You can see that we were at the top of the Foreclosure Recap Chart – October of 2011 with the NOD filings. The line then dips below both of the other foreclosure types – the Auctions and Bank Owned. It holds that trend until March of 2012 – then starts to move to become the top of the Foreclosure Activity in June 2012.
When properties are filed on with NOD – they typically go to foreclosure and enter the market as bank owned unless they are sold via a Santa Clarita short sale. The other outcome could be if the current owners achieve a successful Loan modification or catch up on their payments.
Be Safe – work well and let us know when you are ready for the Paris911 Team at REMAX of Santa Clarita to help you!