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    Should Foreclosures be considered when relocating?

    Why not consider a foreclosure when relocating to the Santa Clarita Valley?  Foreclosures and Bank Owned real estate is typically priced at under fair market value.  In the Santa Clarita Valley we are anywhere between 2 to 5 percent under market value when the foreclosures hit the Multiple Listings Service as being for sale.

    Santa Clarita REMAX RelocationDepending on the bank and tactics they want to impose, will depend on where their market price is set.  Most of the banks are fans of the “multiple offer pricing strategy”.  Which means that they want to go far enough below fair market value, with regard to list price, to spur multiple offers on the Foreclosure that is for sale.  They then want to play each offer against one another to drive the price up.  So, the end result is the foreclosure property selling at a price that is at Fair Market Value or slightly above.

    When we encounter a price that is to far above fair market value – buyers and sellers run into problems with appraisal.   Which is a great “fail safe” mechanism when purchasing real estate in today’s re-sale market.  As a buyer you don’t have to concern yourself with the appraiser, that represents the bank giving you the money for the home, going higher than fair market value.  They are watched and monitored with several levels of review being present with every loan that is processed.  If anyone else see’s something that is awry – the appraiser is called on it and another appraisal is ordered post haste.  This could also place the appraiser’s job in jeopardy.

    The appraiser could care less for you “the buyer”, they do want to keep their position with their employer and know what happens if they “over value” properties on a consistent basis.  (actually the statement “care less for you” is a bit harsh – I know that most care at a human level, the point I am trying to make is that they have a bigger “watch dog” over them and the appraisal they produce…)

    Have a look at our REMAX Relocation blog and let us know if we can be of assistance with your Relocation Needs to and from the Santa Clarita Valley.  Our Paris911 REMAX Relocation Ream operates within an approximate 35 mile radius from the Santa Clarita Valley – Click here to view.

     

     

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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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