Ah, foreclosures. ?They are all the buzz today and have been since we had started working in the real estate?representation?field back in 1998. In a healthy real estate market, there are about 1% of the homes that are being offered for sale that are Foreclosures ? the ?bank owned? type. ?Today?s current real estate market gives us about 20-30%. ?The rest of our market is over 55% short sales (pre foreclosures) and the rest are standard sales. (data compiled today, 12-22-2012, for purposes of this Blog Post on the SCV foreclosure blog)
Buying a foreclosure is going to be dependent on three things you, as a foreclosure buyer, need to be aware of.
- Striking fast - While most banks are giving a certain amount of time before ?offer number one? is looked at ? typically 7-14 days ? It does not harm a buyer to get the latest listings and view them quick. ?There could be that one ?bank? or that one Asset Manager that needs to get their numbers higher that will take the first offer submitted, if only within hours of that listing hitting the market.
- Consider Financing - banks love Cash. ?The next thing the REO selling world loves is 20% down payments or greater, those are conventional loans. ?Followed by the less than 20% down conventional loan, then onto FHA (3.5%) down, and VA (lower down yet). ?The reason why the bank loves cash is typically?appraisal?is never an issue with a buyer purchasing the home. ?The conventional appraiser is typically less stringent than the VA appraiser. ?For Foreclosure Sellers ? the less critical an appraiser is, the more money they will make.
- Inspection?Time-frames?- sweetening the deal - Ask your real estate agent about constricting your inspection time frames on the first offering you are going to make. ?It may set your offer apart enough from the others to get yours accepted without a counter offer. ?You can reduce your inspection time frames form the ?contract allowed? 17 days to 7. ?This will show the?Foreclosure?entity that you are serious.
When approaching bank owned and foreclosure inventory, to set yourself apart and to get the attention of the bank (foreclosure owner), could mean the difference between you winning what you want and not. ?Ask your local Santa Clarita foreclosure expert what they think your best plan of attack should be. ?Don?t forget the value in the Game Plan with regard to real estate. ?It will pay in the long run when you invest 45 minutes up front with your Real estate agent in their offices, exploring the market, your desires and your agent?s working practices.
Your New Foreclosures alert, Paris911?s Pre-Foreclosure Alert for Santa Clarita Valley CA, found a match.
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Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid
Preforeclosure 512760688 19131 PLEASANTDALE ST CANYON COUNTRY 91351 CA SFR 1144 4 2.00 04/11/2013 $250,554.00 $331,772.00
Preforeclosure 512865815 23701 VIA LUPONA VALENCIA 91355 CA SFR 1893 4 3.00 04/12/2013 $430,129.00 $423,696.00
Your New Foreclosures alert, Paris911?s Auction Alert for Santa Clarita Valley, found a match.
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Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid
Auction 505355601 24738 BRACKEN LN NEWHALL 91381 CA SFR 1728 3 2.00 01/17/2013 $444,592.00 $426,595.00
Auction 23819137 25930 SARDINIA CT SANTA CLARITA 91355 CA CND 1786 2 2.00 01/07/2013 $424,975.00 $679,676.00
Auction 517386679 28044 ROBIN AVE SANTA CLARITA 91350 CA CND 834 2 1.00 01/17/2013 $110,142.00 $195,414.00
Auction 520308149 23463 DARCY LN SANTA CLARITA 91321 CA CND 2952 4 4.00 01/04/2013 $492,364.00 $711,805.00
Auction 906614b 26336 PEACOCK PL STEVENSON RANCH 91381 CA SFR 2932 5 3.00 01/07/2013 $637,498.00 $836,474.00
Auction 509608527 25832 EL GATO PL VALENCIA 91355 CA CND 864 2 2.00 01/09/2013 $238,054.00 $370,425.00
Auction 23787963 27809 SYCAMORE CREEK DR SANTA CLARITA 91354 CA SFR 1593 4 2.00 01/04/2013 $329,876.00 $314,151.00
Auction 23800747 26961 RAINBOW GLEN DR 729 SANTA CLARITA 91351 CA CND 1007 3 2.00 01/10/2013 $135,942.00 $378,992.00
Auction 500585952 26075 MAGDALENA DR VALENCIA 91355 CA CND 1128 3 2.00 12/31/2012 $275,360.00 $392,171.00
Your New Foreclosures alert, Paris911?s Sold to Third Alert for Santa Clarita Valley CA, found a match.
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Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid
Sold to 3rd 23801419 28911 LOTUSGARDEN DR SANTA CLARITA 91387 CA SFR 1572 3 2.00 12/20/2012 $294,080.00 $260,057.33
Sold to 3rd 687892b 25454 VIA DONA CHRISTA VALENCIA 91355 CA SFR 1927 5 3.00 12/20/2012 $214,059.00 $342,000.00
Your New Foreclosures alert, Paris911?s Santa Clarita Bank Owned Real Estate Alert, found a match.
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Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid
Bank Owned 1020975b 16305 LOST CANYON RD SANTA CLARITA 91387 CA SFR 5663 4 5.00 12/20/2012 $2,371,842.00 $720,000.00
Your New Foreclosures alert, All Santa Clarita Cities ? NOD filings ? Updated, found a match.
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Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid
Preforeclosure 505585778 17433 DUSTY WILLOW CT CANYON COUNTRY 91387 CA CND 2478 4 3.00 04/13/2013 $381,632.00 $568,866.00
Preforeclosure 513071761 20401 JANZER CT SANTA CLARITA 91350 CA CND 2368 5 3.00 04/16/2013 $311,345.00 $355,279.00
Your New Foreclosures alert, Paris911?s Sold to Third Alert for Santa Clarita Valley CA, found a match.
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Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid
Sold to 3rd 503149024 18223 SOLEDAD CANYON RD 4 SANTA CLARITA 91387 CA CND 1098 2 3.00 12/21/2012 $140,667.00 $136,000.00
Your New Foreclosures alert, Paris911?s Auction Alert for Santa Clarita Valley, found a match.
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Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid
Auction 513125739 25410 HUXLEY DR VALENCIA 91381 CA CND 1130 2 2.00 01/07/2013 $243,125.00 $408,422.00
Auction 509598382 24432 VALLE DEL ORO 202 SANTA CLARITA 91321 CA CND 889 2 2.00 02/11/2013 $144,462.00 $246,447.00
Auction 517480432 26938 BOULDER CREST DR VALENCIA 91381 CA SFR 3984 5 5.00 01/14/2013 $815,757.00 $1,007,005.00
Auction 507409752 18035 RIVER CIR 2 SANTA CLARITA 91387 CA CND 1127 2 3.00 01/07/2013 $145,864.00 $365,856.00
Auction 37421170 28492 FALCON CREST DR CANYON COUNTRY 91351 CA SFR 3882 5 4.00 01/07/2013 $473,500.00 $730,976.00
Auction 520405094 23615 DEL MONTE DR 346 VALENCIA 91355 CA CND 1030 2 2.00 01/07/2013 $260,023.00 $264,658.00
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Santa Clarita Short Sale and Foreclosure intelligence by The Paris911 Team at REMAX of Valencia CA.? If it is distressed or being sold short ? we talk about it here. It is about the exacting real estate data as presented by one of the Top Real Estate teams that are populating the Social Networks including Google Plus.? We talk about the Bank Owned and Distressed properties issues that people want most.
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