There are still real estate listings that are being placed onto the Santa Clarita real estate market that are short sales.
A Short sale is defined as a property placed onto the market for sale that is dependent on the bank holding the mortgage or note, to approve it being sold for less than what is owed.
Typically, with the Short Sales that REMAX of Santa Clarita's Parsis911 Team handle, the real etate short sale sellers are in some type of distress in their lives.
They could be victims of having lost their job(s). Maybe someone, or they themsevles, have been struck down with an illness or were involved in an accident. Not having income and being struck down with vast amount of medical bills can cause the short sale scenario to start.
Some homeowners that we have helped get their homes Sold short as Short Pays, merely had their overtime cut. Others had agreeded to an adjustable rate mortgage that matured increasing their payment to a point that was out of control.
Some of our Santa Clarita short sale sellers decided they were too far upside down to ever recover. They observed real estate listings in their own neighborhood that were selling for 200k less than what they owed, and decided to have us short sale their home. One of the partnership was able to buy again immediately at a HUGE discount over what they owed on their present home.
I suppose you could say that our REMAX short sale team in Santa Clarita CA has seen it all.
That maybe the case, but the current short sale market in Santa Clarita Cities is far from over. While the “federal” debt forgiveness was not renewed – we are still short selling real estate in California at a high rate.
Reach out to my team so we can give you intel about the cost of short selling a property reference to the 10-99 and whether or not you are going to be taxed on the difference.
We have attorney's and CPA's that advise our clients for a very nominal fee when it comes to short sales and short selling real estate.
Please let us know if a Short Sale is something you want more information about and I'll be glad to get it to you.
We have a Santa Clarita real estate and short sale team, that is Head Quartered in the Santa Clarita Valley Cities. Our Team is known as Paris911 – Paris is for a person, not that person 🙂 – One of the team leaders of our Team, that is her name. I was the 911 for a long time working for the LAPD. So hence, Paris911…