Archive January 2010
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Foreclosure Update for Santa Clarita, Castiac, Valencia, Newhall, Canyon Country, Stevenson Ranch, and Saugus California.
Foreclosure Update for Santa Clarita and Surrounding areas.
There were a total of 226 homes that went into foreclosure in the Santa and Clarita and the surrounding areas in the month of December 2009. The homes that were included in my survey were Castaic homes, Valencia homes, Newhall homes, Stevenson Ranch homes, Saugus homes, and Canyon Country homes. This brings the grand total to 988homes that are in foreclosure in Santa Clarita, California. Many of these homes will be for sale soon. If you would like a list of these foreclosures before they hit the mls please email us. These homes had notice of defaults filed against them this is the very first step in the foreclosures process.
What is a notice of Default?
In California, lenders typically do not file a Notice of Default until the borrower is at least 60 days behind in making payments. After the NOD has been filed lenders must then wait 90 days before filling a notice of trust deed sale. During that 90-day period, the borrower has the right to make up the back payments and reinstate the loan. After 90 days, the lender is required to publish a notice in the newspaper for 20 days and then may sell the property to the highest acceptable bidder on the courthouse steps. If no acceptable bid is received, the trustee then conveys the property to the lender.
If have a notice of default filed against your home please call me. You have rights and you need to know about them. We can stop the bank from taking your home!
Houses are going in multiple offers in areas of Santa Clarita including Castaic, Valencia, Newhall, and Stevenson Ranch, Ca.
Home sales in the Santa Clarita Valley were down in November, due to lack of inventory and bidding wars!
Listings dropped 45 percent from November 2008 to a total of 818 active listings at the end of last month, according to the Southland Regional Association of Realtors.
There are home out there in all price ranges the problem is getting loan approved. The economic bail out gave billions to the bank who were suppose to lender the money to home buyers to purchase homes. Instead they have made very difficult to give a loan kept of the bail out money. Lenders now day look for reasons not to give you a loan. Don’t give up hope at Two 4 One Real estate we have lenders that actually wanted to loan money. Strange I know.
A total of 162 single-family homes changed hands last month, the association reported. That represents a 17.8-percent drop from November 2008 and a 5.8-percent drop from last October. This is not to buyer losing interest. It is due lack of inventory in Santa Clarita, Valencia, Castaic, and Newhall.
The latest figures represent a 3.5-month inventory, compared to a 6.4-month supply in November 2008, according to the real estate association, which stated a balanced market is reflected by a five- to six-month supply. Quite a change from 18 month of inventory two years ago.
The fed has extended their tax credit to April so don’t count on the completion for new homes subsiding any time soon. If you are looking to get into a home have been getting beat out please give us a call. We have a couple technique that have been very successful in getting new buyers into home in the Santa Clarita, Castaic, Valencia, Newhall, and Saugus, Ca.
Scott Reiber
Broker/Owner Two 4 One Real Estate Inc.
