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    Santa Clarita Shorter Days on Market equates to Inventory Absorption

    The questions come frequently about foreclosures in the Santa Clarita Valley:

    • Are there going to be more foreclosures released?
    • Are the Short Sales that don’t get approved going to be on the market as Bank Owned?
    • What is happening with the Banks, are they running low on REO inventory?

    With Regard to having more Foreclosures Released onto the market for sale:
    You betcha.  There will be a huge amount of inventory in the future (it does not have anywhere else to go!).  One of the banks that we represent with the sales of their REO, Real Estate Owned, properties has “rumored” that first quarter of 2011 will set a new benchmark for Foreclosure Releases.

    What happens to the Short Sales that are not approved?:
    Depends.  They have several fates.  First, the foreclosure process has to be fulfilled.  They can be sold at an auction to anyone.  The property can be placed onto the Original Bank’s Balance Sheet under the REO category and then placed onto the market for sale.  Some will get caught up in Bulk Sales (where singular packages containing many REO properties are prepared, evaluated and sold in that form).

    Are banks running low on Foreclosures?
    Not only are their coffers overflowing – There are more coming in the form of Adjustable Interest Rates causing homeowners to have an increase in payment owed each month.  Also – Balloon payments for the Negative Amortiziation products that were sold are starting to come due.

    Within the Santa Clarita Foreclosure World – you will want to stay in contact with your real estate agent.  Keeping them searching – we do that for our clients – all we need is a target property type so we can set the Foreclosure Search in motion.  We have posted all of the current Santa Clarita Foreclosures here for your viewing.

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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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