When we speak about Bank Owned real estate and the foreclosure waive, we have to talk about other types of distressed real estate and changes on a larger Global Economic level.
During the time since our start in real estate, in 1998 and present – we have seen the market climb and fall during the time it burst back in 2006/2007.
That is important because, we learn by experience, however, the Foreclosure Market is still moving, albeit at a super slow pace, but still moving.
In the Santa Clarita Valley Cities, we have 9 real estate owned listings that are on the market for sale today. Those are “active” in status http://paris911.com/active
Additional Info: http://paris911.com/foreclosures
While we have been active representing real estate clients with the bank owned and short sale inventory, the second has not been spoken about with as much frequency as the first.
Everyone you speak with knows a bit about Foreclosures. They “get it” when asked how they work – at least in part. “Bank Owned” is typically what is discussed and mentioned by those that don't make it their business to know more, such as an experienced Realtor or Banker.
As far as if there is another wave of Foreclosures and Distressed real estate coming, probably no where near the “Bank Owned Hayday”. However, you can rest assured that at those levels, I can say NO! There are other types of real estate that has a large probability of defaulting. Those homes where Notice of Defaults are filed. See where this is happening by Zip Code or city name – http://paris911.com/nod
The Local Real estate market is not void completely of Foreclosures and homes that the bank has foreclosed on. Just like the current real estate market still has property owners defulting on their mortgages.
http://paris911.com/nod – to investigate the Notice of Default listings further.
http://paris911.com/foreclosures – To see the current Santa Clarita distressed homes and real estate.
Be safe Santa Clarita Valley. Make sure you know what is going on with the distressed real estate inventory from a “savvy” consumers point of view.
Every day we are producing a real estate radio show. Today, we just completed out latest installment of our Foreclosure and REO Wednesdays.
http://paris911.com To Hear the latest Foreclosure Radio Broadcast by REMAX of Valencia's Paris911 Team (boy, that is a mouthfull) 🙂
Thanks for taking the time to ready our latest Santa Clarita real estate and Foreclosure blog posting.