The 2016 Foreclosure and Bank Owned Market Forecast

    Foreclosure Experts with REMAXWhen a real estate market returns to around 1% of the available housing inventory being REO – Real Estate Owned, we are in a Normal Market.

    That is where we are approaching with the local housing and real estate markets.

    Of today’s Foreclosure Inventory – we see that we have the following numbers of inventory related to “healthy inventory”:

    • 563 real estate listings are active which are in the Notice of Default category

    • 304 are “in foreclosure”

    • 857 are Real Estate Owned – REO

    • 38 listings are HUD owned – Housing and Urban Development

    • 1386 are active Short Sales / Short Pays / Subject to Lender

    • 339 are active probate listings

    • 295 said they are headed to auction

    • Total:  3782 Distressed real estate listings currently active on the market for sale in Southern California.

    Search all distressed real estate listings

    Here is the active “healthy inventory”:

    • 5000 active “standard” sales are currently on the market for sale.

    This means that during 2016, barring anything horrible happening – such as lenders and banks allowed to loosen up their “loan approval” requirements – we should be continuing to close out the bank owned and real estate owned inventory here in Southern California.

    BTW – Just so you know – it was that Foreclosures and Bank Owned homes were available to purchase at a discount. That ship has sailed and they are now competitively priced along side with Fair market Value of other real estate listings.

    That is where we are and that is my prediction. I’m sure we will be getting more healthy as a real estate market. I know for a fact we are on our way with interest rates very low – the price of admission to purchase real estate is high from a qualification standard.

    Low from a down payment standard – where you can buy for Zero Down – if you are a veteran and 3.5% down payment if you are using an FHA loan.

    I’ll keep you informed and make sure you go to HousingRadio.com and see my daily (almost daily), real estate broadcast. I’m Connor MacIvor and I’m proud to be of help!

    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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