The Senior Community is alive and well in the Santa Clarita Valley and they are the backbone to our local economy.
However, some could potentially be targeting the “long time” home owners amongst the senior community. These “investment companies”, “buyer groups”, and others are searching for the “paid off” homes which were bought long ago.
Here is a possible scenario:
A senior may have bought their Santa Clarita home back in 1975 and adhered to a traditional 30 year mortgage. Not taking any money out, not refinancing, just paying every single month for 30 years. in 2005 their home became paid off and they are relieved they don’t have that mortgage any longer.
When they bought their home in 1975, the cost of their home, which is now paid off, was much less than the present Santa Clarita home prices. FYI, in 1975 the average house price was $39,500.00.
Several years pass and they start to consider downsizing, maybe moving in with family, maybe moving away, or to a more hospitable community which caters to seniors.
The predatory buyers which I’m referring to are going to offer low, potentially without a Realtor. This could come about via a mailer, a door knocker, someone leaving a leaflet on your door step, a phone call or email. This type of buyer knows the true value of the senior’s home, but is relying on the senior not being up to date with the real estate market.
Some of these predatory persons rely on their learned ability to take advantage of those within the Senior Communities in the Santa Clarita Valley. Even those seniors which live in Friendly Valley and Belcaro, which are two wonderful Senior Communities that aren’t safe from these types of home buyers.
Here is how you can protect yourself
I was an LAPD cop for a long time. I’m honorably retired, which means no pension, fyi. During my time, over 21 years of service, I saw many terrible things. Some were absent any silver lining and those gave me a new insight into my own self expression and overall attitude. I’m super positive and my response when people ask me how I’m doing is, “I’m Great and Getting Better…”
If you are any homeowner, and you are being contacted by someone who wants to buy your home, you need to get the true market value of your residence.
Beware of online systems for showing value. Beware of relying on getting the value and trusting the homebuyer is telling you the truth.
Make sure you are looking at the factual real estate date. The most accurate information is going to come from the Multiple Listing Service. Make sure you are looking at the data and make sure you obey some of the same rules appraisers utilize.
- Only use sold real estate listings which closed during the past 180 days and less.
- Three or more results would be stellar.
- Compare others which are as similar as possible.
- If you can use homes in the same neighborhood or tract, that’s best.
- Properties closest to yours will get you the most accurate values.
- Restricting the results to homes with the same amount of bedrooms / bathrooms as yours is super.
- Evaluate the same type of construction – Single Family Residences, if your’s is a Single Family Home, Condos to Condos and town-homes to town-homes – etc.
- Leave the estimation of value to a Professional Top Valued Realtor!
Having someone who is backed up by a reputable real estate brokerage is very important.
If you are getting calls, door knockers, email’s and mailers from someone wanting to buy your home or someone saying they have buyers for your home, call me and I’d be happy to follow up with whomever on your behalf.
Thanks for taking the time to read about Senior Housing Abuse in Santa Clarita Valley. We are watching out for our Seniors and and proud to be of great service.
I’m Connor MacIvor, owner and operator of REMAX and the SCVnest/Paris911 Real Estate Group. Please share this article with those whom you think it will benefit. BE safe and talk soon. 661-400-1720.