Which means a log jam of sorts because the numbers of properties that are under contract have also increased.
The longer Days on Market have to do with Short Sales and lending restrictions / changes – Which will be reflective and impact the following questions about foreclosures:
These questions are asked via FaceBook and Twitter frequently about foreclosures in the Santa Clarita Valley:
- Are there going to be more foreclosures released?
- Are the Short Sales that don’t get approved going to be on the market as Bank Owned?
- What is happening with the Banks, are they running low on REO inventory?
With Regard to having more Foreclosures Released onto the market for sale:
You betcha. There will be a huge amount of inventory in the future. One of the banks that we represent, with the sales of their REO, Real Estate Owned, properties has "rumored" that first quarter of 2011 will set a new benchmark for Foreclosure Releases.
What happens to the Short Sales that are not approved?:
Depends. They have several fates. First, the foreclosure process has to be fulfilled. They can be sold at an auction to anyone. The property can be placed onto the Original Bank’s Balance Sheet under the REO category and then placed onto the market for sale. Some will get caught up in Bulk Sales (where singular packages containing many REO properties are prepared, evaluated and sold in that form).
Are banks running low on Foreclosures?
Not only are their coffers overflowing – There are more coming in the form of Adjustable Interest Rates causing homeowners to have an increase in payment owed each month. Also – Balloon payments for the Negative Amortization products that were sold are starting to come due.
With Regard to Days on Market – you can see that time frame change in the Graph Below – This graph represents the Cities that are within the Santa Clarita Valley – Castaic, Canyon Country, Valencia, Stevenson Ranch, Saugus and Newhall.
Every Single Family Residence, condo and town-home- The Longest Days on Market Average for Santa Clarita Homes in a two year history!!!
By the way – if you liked this article, or not – Please comment below – I would greatly appreciate it and so would our subscribers… Hey!!!! You can also subscribe – Thanks.
Are you looking for High Pressure Real estate agents? I hope that you can appreciate the HUMOR in one of our Ad-Words ads.
With everyone talking about being “Transparent” and “different”, including me and my team. I wanted to take a break from the norm and throw out some “untruths”.
You know what happened? I noticed a 35% increase in click through and my Subscriptions to our Real Estate Blogs increased.
Who’d of thunk. I think people like the refreshing humor in such a “typically stuffy” world that is Real Estate Resale and marketing efforts by Agents.
I have spoken with quite a few people since the ad started and they all had a common thread – “they all thought the ad was so incredibly different – that we had to be Good…”
So, If you have been on the search for High Pressure RE MAX Realty Services, you have finally been able to find a Team that Subscribes to the NON-Transparent approach.
“We Don’t want to grow old with our clients…” 🙁
LMAO!!!! Opposites do Attract – Just look at Paris and I!
Talk with you soon and Be Safe.
Paris and I have been Blessed to have met with some wonderful people as of late. Both Buyers and Sellers that have specific goals in mind and need the best plan of action to achieve them.
I have spoken about the 7 secret tips for buyers and sellers of Real Estate – Ours is more about keeping yourselves safe by asking the right questions:
- How to ask for a good faith estimate and how to use it to your advantage.
- How to Turn the Tables with the "net sheet" that is presented during a listing presentation.
- Getting a home for Less than Fair Market Value by "Direct Farming"
I said 7 Secret Tips – Click Here to our "Big 7" Real Estate Secrets and I’ll get you the first 3 explained plus the other 4 as well! As you can imagine, the information contained in this Real Estate Tips video presentation is quite extensive and might cause others in our industry some panic. That alone is the necessity for a confidential and direct communication of the famous "7 Real Estate Tips communication".
Make sure you enter "7 Secret Tips" in the Subject Line of your E-mail message to my Team!
I should not be too critical. The bottom line, in keeping yourself and your assets safe, is getting the full story and asking all of the questions you can when you are going to embark on any "Real Estate Related" journey.
Find a quality agent, set up a meeting at their office, meet them and have them explain how they operate and what things should be important to you as a buyer. If they interview you, searching for your needs and addressing all of your concerns, you have found a keeper. If that same agent continues to perform, as shown during the initial meeting, at a high level – stay loyal and don’t believe anyone else that tells you different!
Real Estate Writing in Santa Clarita:
Looking around you will find our Blogs where we write about the following Real Estate Related Topics. Our Blogs are full of GREAT advice to keep you safe and get you what you want from any real estate dealing as a seller or as a buyer.
RE MAX Realty in Southern California. Click for MLS Search.
RE “MAX” Realty. Paris and I have been proud members of RE MAX Realty since 1998. If fact, RE MAX Realty – means Real Estate Maximum.
Today, we have realized that the Strength of REMAX Realty, RE MAX of California and Hawaii and RE MAX International, gives our clients a much more sound advantage. It is like being a member of “The Home Team” that has the “home team advantage”.
When we are presenting offers, it is hard not to see the amount of respect that we command. It is one thing to have a deal with someone that you have worked with in the past. But you really see of the command RE MAX Reality has when you write an offer with an agent that you don’t know. It is very honoring and that is why we are part of the Strongest Real Estate Company in the world.
Are there bad agents with REMAX? – Absolutely!!!
Having been with the PD for 17 years as a regular and now as a full line reserve police officer – there were bad apples in the Law Enforcement Profession as well.
Revised 02/15/2012: We talk about the 800 pound gorilla. It is nice having one of those in your corner when the largest investment of a person’s life is being made. JD power reported that REMAX received the NUMBER 1 award for client care and satisfaction. Just another reason Paris and I are with REMAX. BTW – Dave Liniger saw a tweet I posted on Twitter – and responded – that is pretty cool…
You need to size up all of those who’s services you employ by reading, meeting and talking with them. You know the “snake oil” types. You also can identify high pressure. If someone keeps telling you, “let me be honest….”, you know that might be a warning signal to run.
If you are not working with a Realtor – We want the opportunity to speak with you. I
have just hit on some highlights concerning RE
MAX Realty – Wait until you meet Paris and I 🙂
Paris MacIvor with REMAX of Valencia – REMAX International Website.
Connor MacIvor with REMAX of Santa Clarita – REMAX International Website.