What is a typical foreclosure and bank owned market

    Santa Clarita foreclosures and bank owned real estate has been lacking lately.  The Notice of Defaults have been continued to be filed – however, those sellers are not stepping forward with having their home listed as a Short Sale.

    Santa Clarita foreclosuresA typical Foreclosure Market exceeds 1% of the real estate listings being of the “foreclosure” variety.

    They could be bank owned, and in a true “foreclosure” market, they mostly bank owned.  Today, we are seeing as we have hedge funds and investment groups that are allowing their properties to go the way of Foreclosure.

    Some are being sold short by our team and other Teams of Santa Clarita short sale experts.  However, you would be surprised, as I am, at the numbers of NOD’s being filed and the difference between those owners short selling and not.

    Because of the inherent advantages of short selling real estate – you would think that everyone would be on board.

    That is not the case.

    In a “normal” real estate market – we are about 1% foreclosure.  That means that the real estate listings for sale total about 1% at any given time.

    The question of today has to do with, “Where are the foreclosures and will there be a large release soon?”  I would say the foreclosures are mostly being sold at auction and at bulk sale.  As far as any “shadow inventory” – that is something that will not happen.

    If the homes were the dots on the PacMan Screen and the investors were the PacMan – they are gobbling up the REO’s.

    Stay Tuned – Do some Googling of real estate related terms in and around the Santa Clarita Valley cities to see who the real experts are.

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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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