ValenciaÂ Short Sales & Bank Owned Properties for sale
As yourÂ ValenciaÂ Certified Pre Foreclosure Specialist team we are here to provide you with the most current short sale (pre foreclosure) and bank owned (REO) property statistics in the Valencia. Whether you are thinking about buying a home, you need to short sale yourÂ home, or are just lookingÂ to be educated about the currentÂ Valencia real estate market.Â
Many agents will cut and paste the daily numbers, but is this really giving you a true picture of what happening in our market? I have done an in depth analysis of the Santa Clarita Pre Foreclosure & Foreclosure Real Estate Market.Â I usually do a monthly break down of the bank owned listings vs. the short sale listings but felt it necessary to give you a clear picture of what the statistics are showing us from February 3 to September 2, 2009.
You may have noticed we have reached historic low levels of inventory here in the Santa Clarita Valley. In my opinion the government programs have created a sellerâ€™s market. The banking institutions are taking advantage of a basic supply vs. demand market with the foreclosure moratoriums in place. By cutting off the supply and creating incentives for first time home buyers to purchase, they have slowed the decline of property values. You can clearly see that President Obamaâ€™s pressure on the banking industry to streamline loan modifications and short sales is starting to take effect.Â If you look closely at some areas here in Santa Clarita you will see prices have gone down in value but some areas are on the rise. It will be interesting to see how this next wave of Foreclosures will impact our market.
ACTIVE BANK OWNED LISTINGS IN VALENCIA SEPTEMBER 2, 2009:
There are 7 active bank owned (REO's) single family homes forÂ sale in Valencia, 5 in back up 18 pending. 30 total bank owned listings in Valencia.
Average list price: $398,675
Average sale price: $376,412 from 8/2/2009 - 9/2/2009, 8 homes sold.
The bank owned homes sold $22,263 Below the current average list price.
ACTIVE BANK OWNED LISTINGS IN VALENCIA MAY 28, 2009:
ThereÂ were 6 active bank owned (REO's) single family homes forÂ sale in Valencia, 2 in back up 26 pending.
Average list price: $358,083
Average sale price: $417,612 from 4/8/2009 - 5/28/2009, 29 homes sold.
The bank owned homes sold $59,529 Above the current average list price.
ACTIVEÂ BANK OWNEDÂ LISTINGS IN VALENCIA FEBRUARY 3, 2009:
ThereÂ wereÂ 18Â single family homes for sale, 30 homes in back up or pending status.Â Â
Average list price: $492,100 Â
Average sale price: $456,491 from 1/10/2009 - 02/03/2009 there wereÂ 6 homes sold.
The bank owned homes sold for $35,609 BelowÂ the average list price.
Valencia sale prices for bank owned properties have dropped 18% in the past 7 months.
ACTIVE SHORT SALE LISTINGS IN VALENCIAÂ SEPTEMBER 2,Â 2009:
There are 31 active short sale, pre foreclosure single family homes forÂ sale Valencia, 74 in back up 47 pending. 152 total short sale listings in Valencia.
Average list price: $497,775
Average sale price $423,392 from 8/2/2009 - 9/2/2009, 13 homes sold.
The short sale homes sold for $74,383 Below the current average list price.
ACTIVE SHORT SALE LISTINGS IN VALENCIAÂ MAY 28,Â 2009:
ThereÂ were 59 active short sale, pre foreclosure single family homes forÂ sale Valencia, 54 in back up 42 pending.
Average list price: $457,564
Average sale price $472,294 from 4/8/2009 - 5/28/2009, 17 homes sold.
The short sale homes sold for $11,082 Above the current average list price.
Â ACTIVEÂ SHORT SALEÂ LISTINGS IN VALENCIA FEBRUARY 3, 2009:
ThereÂ wereÂ 81Â Â single family homes sale, 42 properties in back up or pending status.Â
Average list price: $461,054
Average sale price: $396,666Â from 1/10/2000 - 02/03/2009 there wereÂ 3 homes sold.
The short sale homes sold for $64,388 below the average list price.
Valencia sale prices for short sale properties have increased 7% in the past 7 months.
With the constantly changing market we are in my goal is to keep you up to date with the most current home sales statistics in the Santa Clarita Valley. As potential buyersÂ or sellers these numbers help you to understand what the price ranges are for bank owned and short sale properties for sale. There is a big misconception when it comes to bank owned properties (foreclosures) and short sales (pre foreclosures). Many are led to believe that there is a fire sale going on, that the banks are giving deep discounts. Banks at this point are in the business to minimize their loss severity, they want to see offers as close to fair market value as possible. In some instances there are listings that are generating multiple offers which results in a higher sale price. Here is where an experienced agent can guide you with these purchases.
You as a buyer need an agent who truly understands this market and can help you get your desired home whether it is a bank owned or short sale listing. With so much information and misinformation you need an above average agent to guide you through these investment opportunities.
My husband and I are Santa Claritaâ€™s Certified Pre Foreclosure Specialists, PSC with a Certified Distressed Property Experts designation CDPE. By dealing with aÂ Realtor who has earned the PSC and CDPE designations, buyers and sellers ensure that they are working with experienced short sale real estate professionals thatÂ are equipped to handle their specific needs.
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This real estate market has caused unbearable stress and heartache. As Certified Distressed Property Experts we will give our clients the expertise necessary to save their credit, relieve the uncertainty, and most of all help their families. We feel that education is key in this market with so much misinformation and foreclosure scams out there, we sought out this education to ensure we could properly help Santa Clarita families get on the path to recovery.
There is a difference between a pre foreclosure and a foreclosure. TheÂ time period between the first missed payment and the final bank sale is called the pre foreclosure phase. Foreclosure is a legalÂ processÂ that is initiated wheneverÂ a homeowner defaultsÂ (stopsÂ making payments)Â on their mortgage(s). When the foreclosure is completed the home is either sold at auction or becomes real property of the lender and is now owned by the lender REO, Real Estate Owned. Many of you have heard these terms on the news lately or see these types of homes in your communities. Would like to know what these terms mean or understand how the short sale process works? Go to short sale, pre foreclosure definitions.Â Â Â
If you or someone you know are in a difficult situation with your property consider us. Homeowners who are in the pre foreclosure process need to speak with an educated agent as quickly as possible. For many homeowners foreclosure is not the only option however most do not get the opportunity to explore solutions. We are Santa Clarita's short sale specialists and would like opportunity to sit down with you and give you a free, no obligation, consultation on this process. We want to be the number one short sale agent you call, we are here to help you avoid foreclosure.
Do you know of anyone who is thinking about moving to the Santa Clarita Valley? Let me showÂ you this beautiful community among others here in the Southern California area. If you would like to search specifically for Valencia, Santa Clarita, or any other areas of Southern California go to: Search the MLS like a Realtor