During our stint in the real estate “representation” realm, we have been blessed to procure several banks that used my team exclusively to sell their real estate owned assets. You may know them by another title, Foreclosures.
There was a “huge” educational process that was in place with the larger ones(banks) with reference to broker price opinions, pre verification, occupancy, 90 days estimates of value and the pre marketing process.
After all of that work had been completed, the next step involved the 90 day estimates of value of the particular asset.
It was not as simple as just establishing the Fair Market Value (FMV), of the specific home, condo or town-home. It always came down to the “end of contract” time as to what the “advertised” listing price was going to be.
If we were in a declining real estate market, then the REO agent would have to established, per factual information that was Multiple Listing Service Based, what that decline was per month. If we were in an inclining real estate market, the same rule applied but by an appreciation standard.
REO – Stands for Real Estate Owned, named appropriately as this is the “column” on the “old style” bank ledger and tally sheets.
Some of the larger banks held thousands of reo assets after the last fall of the real estate market.
Currently in the Santa Clarita Valley cities – there are currently 10 active Foreclosure listings that are on the market for sale.
- 26572 Millhouse Drive, Valencia
- 25401 Silver Crest Court, Saugus
- 31732 Ridge Route Rd, 103, Castaic
- 31766 N. Camino Allegre, Castaic
- 20415 Gaspher Ct, Newhall
- 26014 Zaddison Ct, Newhall
- 31546 Rocca Drive, Castaic
- 24585 Town Center Drive, #4304, Valencia
- 25323 Via Pacifica, Valencia
- 26837 Nautical Lane, Valencia
If you desire to view the current real estate owned inventory for the Santa Clarita Cities, feel free to visit our Foreclosure Page by clicking on the photo of our main site above.
You can also get the most recent REO/Foreclosure listings by email by subscribing to our Foreclosure Alerts system.
Each of these REO, foreclosure, listings are currently active in the Multiple Listing Service within the Board of Realtors. Each property is represented by a real estate hired by the banks to serve their best interests.
The key to your success in buying a foreclosure or REO property in the Santa Clarita Valley Cities is having your very own real estate agent that is on your side 100%. We present the facts pertinent to the BEST Hire you can make in our Listing Agent presentation within our Santa Clarita Realty Offices.
Be safe – when you are ready for the Paris911 Team at REMAX of Valencia CA to represent you, reach out to us and we will show you how we conduct seller and buyer real estate representation.