This announcement comes directly from the National Association of REALTORS® Government Affairs Division 500 New Jersey Avenue, NW, Washington DC, 20001
Responding to the call of the National Association of REALTORS®, on May 14, 2009, the Obama Administration announced incentives and uniform procedures for short sales under its new Foreclosure Alternatives Program (FAP). For borrowers who are unable to retain their home under the Making Home Affordable Loan Modification Program, the servicer may consider a short sale or, if that is not successful, a deed-in-lieu of foreclosure. Participating servicers must comply with program requirements so long as they do not conflict with contractual agreements with investors. Late July is the Treasury Departments current target for issuing guidelines and forms necessary to start the program.
-The problem with this is the servicers participating in this program still have control over the short sale process, they will still be able to delay and control the process without any accountability.
Borrowers (Homeowners).
Borrowers/homeowners qualify under the FAP if they meet minimum eligibility requirements for the Home Affordable Modification program (Streamlined Modification Program) but do not qualify for a modification or do not successfully complete the three month trial period. Before proceeding with a foreclosure, the servicers must determine if a short sale is appropriate.
Incentives.
Incentives include: (1) $1,000 for servicers for successful completion of a short sale or deed in-lieu of foreclosure; (2) $1,500 for borrowers/homeowners to help with relocation expenses; and (3) up to $1,000 toward the cost of paying junior lien holders to release their liens (one dollar from the government for every $2 paid by the investors to the second lien holders).
-This is a great incentive for the servicers, it will also help struggling homeowners with moving expenses. This will also help negotiations with junior lien holders because most junior lien holders are requesting 10% of the amount owed.
Standardized Documents.
The program will include streamlined and standardized documents, including a Short Sale Agreement and an Offer Acceptance Letter. The goal is to minimize complexity and increase use of the short sale option.
-These documents are already standardized, here in California a short sale transaction is no different then any other transaction, it only has one additional contingency. (lender approval of short payoff) CAR has also provided a short sale addendum/short sale agreement.
Property Valuation by Appraisal or BPO.
Servicers will independently establish both property value and minimum acceptable net return, in accordance with investor requirements. The price may be determined based on an appraisal or one or more broker price opinions (BPOs), issued no more than 120 days before the date of the short sale agreement.
-This has been a big problem, since the HVCC (Home Valuation Code of Conduct) went into effect the servicers and lenders set the property value, which is often above what Far Market Value is. This can cause appraisal issues as lenders/investors try to drive home values higher in a declining market.
Time-line.
In the Short Sale Agreement, servicers must give borrowers/homeowners at least 90 days to market and sell the property, or up to one year, depending on market conditions. Property must be listed with a licensed real estate professional with experience in the neighborhood. No foreclosure may take place during the marketing period (at least 90 days) specified in the Short Sale Agreement.
-This is another step in the right direction for struggling homeowners who have received a NOD & NOTS, it affords Realtor's familiar with the area extra time to find a buyer. The problem I still see with the short sale process, with regards to time-lines is the amount of time the servicers take to approve the transaction. The amount of time a short sale proposal takes is still a deterring factor for buyers.
Commissions.
The Short Sale Agreement must specify the reasonable and customary real estate commissions and costs that may be deducted from the sales price. The servicer must agree not to negotiate a lower commission after an offer has been received.
No Borrower Fees.
Servicers may not charge fees to borrowers/homeowners for participating in the FAP. Program Expiration. The program is in effect through 2012.
Deed-in-Lieu of Foreclosure Option.
Servicers have the option to require the borrower/homeowner to agree to deed the property to the servicer in exchange for a release from the debt if the property does not sell within the time allowed in the Short Sale Agreement (plus any extensions)
-Deeding the property to the servicers may be a good option for primary residence homeowners. The borrower must make sure they are released from all the debt, clarify how this will be reported on their credit report and the shortages fall under tax relief from the Mortgage Debt Relief Act, which investment properties do not.
If your a Santa Clarita Homeowner struggling with your mortgage payment or facing foreclosure, Jennifer and I are here to show you what options you have. Don't pay additional fee's, our consultations are FREE, as a community service we will show how to request a loan modification from your lender, should you meet the guidelines.
As Santa Clarita Realtor's Specializing in short Sales we have the experience and training to provide you with solutions that will minimize your financial loss and limit the damage to your credit history. Contact Jennifer and Gary Ricco, at Keller Williams VIP Properties to schedule a consultation today. 661.290.3837
For Short sale facts follor this link http://www.santaclaritavalleyhomesonline.com once there click on Short Sale FAQ's
Monday, June 15, 2009
Saturday, June 6, 2009
Strategies For Investing In Santa Clarita Real Estate. Santa Clarita Realtor, Jennifer & Gary Ricco Keller Williams VIP Properties.
First Time Home Buyer Tax Credit The $8,000 first time home buyer tax credit can also be utilized on 1-4 family properties. The greatest thing is that not all buyers need to be first time home buyers. This means that an individual who qualifies for the credit can get their parents to co-sign on the loan and/or contribute to the down payment, and this would not disqualify the individual from taking the credit. A group of friends, relatives or investors could get together and buy a duplex, triplex, or four-unit property, and the credit can be claimed by any one or more of the investors as long as the individual(s) claiming the credit live in one of the units as their primary home for at least three years. They could claim the credit even though they are generating income by renting out one or more of the other units.
The maximum FHA loan-limit on four-unit properties ranges from $521,250 in low cost housing markets up to $1,403,400 in the highest cost markets of the country. An investor who is trying to sell their 1-4 family unit property can also utilize this strategy to stimulate potential buyers. This strategy just became a whole lot easier now that the FHA is allowing the credit to be utilized as part of the buyer's down payment. As of May 29, buyers are now allowed to borrow against the credit or sell it to their lender or another 3rd party as way of helping with their down payment.
Reverse Mortgage for Purchase Transactions
Until the end of 2009, an investor who is age 62 or older can purchase a 1-4 unit property worth up to $625,500 with a 30% - 35% down payment, live in one of the units, generate income by renting out the other units, and never have to make a mortgage payment for the rest of their entire life. This opens up a lot of options for seniors and investors who are wondering how to supplement their retirement income now that their house values and retirement accounts have taken such a huge hit.
The reverse mortgage for home purchase transactions became available on January 1, 2009, and the higher loan limit of $625,500 became available a few months ago as part of the 2009 economic stimulus plan. Investors who are trying to sell their duplexes, triplexes, or four-unit properties can utilize this strategy in their marketing as a way of stimulating potential buyers. This strategy has been lost in all the noise of the last few months and very few people are aware that it can be done. The $625,500 higher loan limit really opens up a lot of options, but it expires at the end of the year so you need to take action now.
Rent-to-Own or Sale-Leaseback Opportunities
There are a large number of distressed home owners who will not qualify for the mortgage modification plans announced by the government. These home owners still need a place to live, and many will not be able to qualify for conventional or government mortgage financing for at least another 3-5 years.
A rent-to-own strategy is where an investor or Realtor takes a potential home buyer house shopping even though the buyer can't qualify for traditional financing. The investor buys the house, rents it to the tenant who picked out the house and wants to live there, and gives the tenant the right to buy the home at a pre-determined price at some point in the future. A sale-leaseback strategy is where a home owner sells their current property to an investor and then pays the investor rent, with the option to buy back the home at a pre-determined price at some point in the future.
While most real estate investors are scrambling to find tenants for their vacant properties, savvy investors could utilize either a rent-to-own or a sale-leaseback strategy to find tenants before they commit their investment dollars to a specific property. This is a fantastic opportunity for investors to work with the large population of people who won't qualify for the government foreclosure prevention plans.
Even so, there are a few potential landmines to avoid. If the tenant defaults on their rent or walks away from the deal, the investor could be left holding the bag. Also, if the investor defaults on the mortgage and goes into foreclosure, the tenant may be evicted by the new owner. The new federal housing law provides two minimum guidelines that protect tenants in these and other situations:
Tenants are now allowed to occupy the property until the end of their lease term (even after the landlord goes through foreclosure) as long as the new buyer does not intend to occupy the new home as their own primary residence.
If the new buyer intends to occupy the home as their own primary residence, the tenant must be given a 90 day notice before being forced to leave.
It is more important than ever before for investors, home owners and buyers to work with a Certified Distressed Property Expert, especially with all the rapid changes that are constantly taking place in the mortgage and housing markets.
Contact Jennifer & Gary Ricco of Keller Williams VIP Properties at 661.290.3837. To search for properties & learn more about us please visit our website at http://www.riccosellshomes.com/
Santa Clarita Homes For Sale, 28356 Agajanian Dr Santa Clarita, CA 91390
Stunning Estrella Vista HomeThis is a 3 bedroom 3 bathroom 2208 sqft home. The spacious kitchen has granite countertops and center island. The family room has a custom built in entertainment center. formal dining room, living room/study has a built in bookcase and french doors with beautiful glass inlay. There is a spacious open loft area upstairs. The master suite has a panoramic view of the mountains. The backyard has a covered patio which is great for entertaining. This is a short sale. Price is subject to change. This home is currently listed for $480,000.
To view the virtual tour on this property go to: http://www.tourfactory.com/514393
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 Clarita's Certified Distressed Property Experts, CDPE. By dealing with an agent who has earned the CDPE designation, buyers and sellers ensure that they are working with experienced short sale real estate professionals that are equipped to handle their specific needs.
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 families get on the path to recovery.
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.
Do you know of anyone who is thinking about moving to the Santa Clarita Valley? Let me show you this beautiful community among others here in the Southern California area. If you would like to search specifically for Santa Clarita, or any other areas of Southern California go to: Search the MLS like a Realtor
Santa Clarita Short Sale & Bank Owned Properties For Sale May 28, 2009
Santa Clarita Short Sales & Bank Owned Properties for sale
As your Santa Clarita Certified Distressed Property Expert team we are here to provide you with the most current short sale (pre foreclosure) and bank owned (REO) property statistics in the Santa Clarita Valley. Whether you are thinking about buying a home or you need to short sale your home these numbers show you a snap shot of the Santa Clarita real estate market. As of May 28, 2009 here are the current average list and sale prices for the Stevenson Ranch, Valencia, Saugus, Newhall, Canyon Country, and Castaic areas.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN STEVENSON RANCH MAY 28, 2009:
There are NO active bank owned homes for sale in Stevenson Ranch, 0 in back up 2 pending.
Average pending list price: $635,000
Average sale price: $611,571 from 4/8/2009 - 5/28/2009 7 homes sold. The bank owned homes sold $23,429 Below the current average pending list price.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN STEVENSON RANCH MAY 28, 2009:
There are 12 active short sale homes for sale in Stevenson Ranch, 12 in back up 7 pending.
Average list price: $567,908
Average sale price: $519,583 from 4/8/2009 - 5/28/2009 12 homes sold. The short sale homes sold for $48,325 Below the current average list price.
Short sale homes in Stevenson Ranch are listed for less and selling for less then the bank owned homes during the 4/8/2009 - 5/28/2009 time period. During this time period the numbers have changed. Previously Bank owned homes sold for less then short sale listings.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN STEVENSON RANCH APRIL 8, 2009:
There was 1 active bank owned (REO) single family homes for sale in Stevenson Ranch, 2 in back up 7 pending.
Average list price: $574,900
Average sale price: $526,980 from 2/3/2009 - 04/8/2009 10 homes sold. The bank owned homes sold $47,920 Below the current average list price.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN STEVENSON RANCH APRIL 8, 2009:
There were 20 active short sale, pre foreclosure single family homes for sale in Stevenson Ranch, 7 in back up 9 pending.
Average list price: $530,237
Average sale price: $534,000 from 2/3/2009 - 04/8/2009 2 homes sold. The short sale homes sold for $3,763 Above the current average list price.
Short sale homes in Stevenson Ranch are listed for less but are selling for more then the bank owned homes during the 2/3/2009 - 03/2/2009 time period. During this time period the numbers have changed. Previously Bank owned homes sold for more then short sale listings.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN VALENCIA MAY 28, 2009:
There are 6 active bank owned homes for 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.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN VALENCIA MAY 28, 2009:
There are 59 active short sale homes for 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.
Short sale homes in Valencia are listed for more and are selling for more then the bank owned homes during the 4/8/2009 - 5/28/2009 time period. During this time period the numbers have changed. Previously Bank owned homes sold for more then short sale listings.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN VALENCIA APRIL 8, 2009:
There were 13 active bank owned (REO's) single family homes for sale in Valencia, 6 in back up 27 pending.
Average list price: $452,600
Average sale price: $424,940 from 2/3/2009 - 04/8/2009, 31 homes sold.
The bank owned homes sold $27,660 Below the current average list price.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN VALENCIA APRIL 8, 2009:
There were 86 active short sale, pre foreclosure single family homes for sale Valencia, 30 in back up 24 pending.
Average list price: $452,112
Average sale price $439,625 from 2/3/2009 - 04/8/2009, 16 homes sold. The short sale homes sold for $12,487 Below the current average list price.
Short sale homes in Valencia are listed for less but are selling for more then the bank owned homes during the 2/3/2009 - 04/8/2009 time period. During this time period the numbers have changed. Previously Bank owned homes sold for more then short sale listings.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN SAUGUS MAY 28, 2009:
There are 14 active bank owned homes for sale in Saugus, 4 in back up 16 pending.
Average list price: $373,006
Average sale price: $361,910 from 4/8/2009 - 5/28/2009, 19 homes sold.
The bank owned homes sold $11,096 Below the current average list price.
Bank owned homes in Saugus are listed for less and selling for less then short sale homes during the 4/8/2009 - 5/28/2009 time period.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN SAUGUS MAY 28, 2009:
There are 44 active short sale homes for sale in Saugus, 41 in back up 23 pending.
Average list price: $437,779
Average sale price: $406,500 from 4/8/2009 - 5/28/2009, 14 homes sold. The short sale homes sold for $31,279 Below the current average list price.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN SAUGUS APRIL 8, 2009:
There were 13 active bank owned (REO's) single family homes for sale in Saugus, 7 in back up 14 pending.
Average list price: $352,476
Average sale price: $386,800 from 2/3/2009 - 04/8/2009, 32 homes sold. The bank owned homes sold $34,324 Above the current average list price.
Bank owned homes in Saugus are listed for less and selling for less then short sale homes during the 2/3/2009 - 03/2/2009 time period.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN SAUGUS APRIL 8, 2009:
There were 51 active short sale, pre foreclosure single family homes for sale in Saugus, 31 in back up 26 pending.
Average list price: $420,755
Average sale price: $522,166 from 2/3/2009 - 04/8/2009, 6 homes sold. The short sale homes sold for $101,411 Above the current average list price.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN NEWHALL MAY 28, 2009:
There are NO active bank owned homes for sale in Newhall, 2 in back up 10 pending.
Average pending list price $347,480
Average sale price $359,072 from 4/8/2009 - 5/28/2009, 11 homes sold.
The bank owned homes sold $11,592 Above the current average list price. Bank owned homes in Newhall are listed and selling for less then short sale homes during the 4/8/2009 - 5/28/2009 time period.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN NEWHALL MAY 28, 2009:
There are 20 active short sale homes for sale in Newhall, 17 in back up 11 pending.
Average list price: $377,569
Average sale price: $363,800 from 4/8/2009 - 5/28/2009, 10 homes sold. The short sale homes sold for $13,769 Below the current average list price.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN NEWHALL APRIL 8, 2009:
There were 6 active bank owned (REO's) single family homes for sale in Newhall, 1 in back up 12 pending.
Average list price $350,380
Average sale price $396,569 from 2/3/2009 - 04/8/2009, 8 homes sold. The bank owned homes sold $46,189 Above the current average list price.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN NEWHALL APRIL 8, 2009:
There were 34 active short sale, pre foreclosure single family homes for sale in Newhall, 15 in back up 12 pending.
Average list price: $368,434
Average sale price: $345,500 from 2/3/2009 - 04/8/2009, 2 homes sold. The short sale homes sold for $22,934 Belowthe current average list price.
Bank owned homes in Newhall are listed for less But short sale homes are selling for less during the 2/3/2009 - 03/2/2009 time period.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN CANYON COUNTRY MAY 28, 2009:
There are 12 active bank owned homes for sale in Canyon Country, 2 in back up 31 pending.
Average list price: $425,158
Average sale price: $322,079 from 4/8/2009 - 5/28/2009, 42 homes sold.
The bank owned homes sold $103,079 Below the current average list price.
Bank owned homes in Canyon Country are listed for less and are selling for less then short sale homes during the 4/8/2009 - 5/28/2009 time period.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN CANYON COUNTRY MAY 28, 2009:
There are 66 active short sale homes for sale in Canyon Country, 37 in back up 45 pending.
Average list price: $438,883
Average sale price: $340,210 from 4/8/2009 - 5/28/2009, 19 homes sold.
The short sale homes sold for $98,673 Below the current average list price.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN CANYON COUNTRY APRIL 8, 2009:
There were 14 active bank owned (REO's) single family homes for sale in Canyon Country, 9 in back up 35 pending.
Average list price: $298,392
Average sale price: $323,992 from 2/3/2009 - 04/8/2009, 39 homes sold.
The bank owned homes sold $25,600 Above the current average list price. Bank owned homes in Canyon Country are listed for less and are selling for less then short sale homes during the 2/3/2009 - 03/2/2009 time period.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN CANYON COUNTRY APRIL 8, 2009:
There were 97 active short sale, pre foreclosure single family homes for sale in Canyon Country, 17 in back up 44 pending.
Average list price: $383,370
Average sale price: $361,991 from 2/3/2009 - 04/8/2009, 12 homes sold.
The short sale homes sold for $21,379 Below the current average list price
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN CASTAIC MAY 28, 2009:
There are 8 active bank owned homes for sale in Castaic, 4 in back up 13 pending.
Average list price: $382,439
Average sale price: $372,891 from 4/8/2009 - 5/28/2009, 11 homes sold.
The bank owned homes sold $9,548 Below the current average list price.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN CASTAIC MAY 28, 2009:
There are 24 active short sale homes for sale in Castaic, 21 in back up 12 pending.
Average list price: $358,412
Average sale price: $354,142 from 4/8/2009 - 5/28/2009, 7 homes sold.
The short sale homes sold for $4,270 Below the current average list price.
Short sale homes in Castaic are listed for less and are selling for less then bank owned homes during the 4/8/2009 - 5/28/2009 time period.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN CASTAIC APRIL 8, 2009:
There were 8 active bank owned (REO's) single family homes for sale in Castaic, 1 in back up 11 pending.
Average list price: $380,088
Average sale price: $408,806 from 2/3/2009 - 04/8/2009, 16 homes sold.
The bank owned homes sold $28,718 Above the current average list price. Bank owned homes in Castaic are listed for less and are selling for less then short sale homes during the 2/3/2009 - 04/8/2009 time period.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN CASTAIC APRIL 8, 2009:
There were 33 active short sale, pre foreclosure single family homes for sale in Castaic, 10 in back up 13 pending.
Average list price: $388,611
Average sale price: $414,750 from 2/3/2009 - 04/8/2009, 4 homes sold.
The short sale homes sold for $26,139 Above the current average list price.
With the constantly changing market we are in my goal is to keep you up to date with the most current statistics in the Santa Clarita Valley. As potential buyers or sellers these numbers help you to understand what the price ranges are for bank owned and short sale properties. 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. There is a difference between a pre foreclosure and a foreclosure. The time period between the first missed payment and the final bank sale is called the pre foreclosure phase. Foreclosure is a legal process that is initiated whenever a homeowner defaults (stops making payments) 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 type 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.
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 Clarita's Certified Distressed Property Experts, CDPE. By dealing with an agent who has earned the CDPE designation, buyers and sellers ensure that they are working with experienced short sale real estate professionals that are equipped to handle their specific needs.
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 families get on the path to recovery.
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 Santa Clarita short sale Realtors you call, let us be your pre foreclosure resource.
Do you know of anyone who is thinking about moving to the Santa Clarita Valley? Let me show you this beautiful community among others here in the Southern California area. If you would like to search specifically for Santa Clarita, or any other areas of Southern California go to: Search the MLS like a Realtor
You can tract the Santa Clarita Short Sales and Bank Owned statistics on a monthly basis. In my archives click on the SANTA CLARITA SHORT SALE AND BANK OWNED PROPERTIES FOR SALE button.
*All information deemed reliable but not guaranteed, information directly from SOCAL MLS
As your Santa Clarita Certified Distressed Property Expert team we are here to provide you with the most current short sale (pre foreclosure) and bank owned (REO) property statistics in the Santa Clarita Valley. Whether you are thinking about buying a home or you need to short sale your home these numbers show you a snap shot of the Santa Clarita real estate market. As of May 28, 2009 here are the current average list and sale prices for the Stevenson Ranch, Valencia, Saugus, Newhall, Canyon Country, and Castaic areas.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN STEVENSON RANCH MAY 28, 2009:
There are NO active bank owned homes for sale in Stevenson Ranch, 0 in back up 2 pending.
Average pending list price: $635,000
Average sale price: $611,571 from 4/8/2009 - 5/28/2009 7 homes sold. The bank owned homes sold $23,429 Below the current average pending list price.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN STEVENSON RANCH MAY 28, 2009:
There are 12 active short sale homes for sale in Stevenson Ranch, 12 in back up 7 pending.
Average list price: $567,908
Average sale price: $519,583 from 4/8/2009 - 5/28/2009 12 homes sold. The short sale homes sold for $48,325 Below the current average list price.
Short sale homes in Stevenson Ranch are listed for less and selling for less then the bank owned homes during the 4/8/2009 - 5/28/2009 time period. During this time period the numbers have changed. Previously Bank owned homes sold for less then short sale listings.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN STEVENSON RANCH APRIL 8, 2009:
There was 1 active bank owned (REO) single family homes for sale in Stevenson Ranch, 2 in back up 7 pending.
Average list price: $574,900
Average sale price: $526,980 from 2/3/2009 - 04/8/2009 10 homes sold. The bank owned homes sold $47,920 Below the current average list price.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN STEVENSON RANCH APRIL 8, 2009:
There were 20 active short sale, pre foreclosure single family homes for sale in Stevenson Ranch, 7 in back up 9 pending.
Average list price: $530,237
Average sale price: $534,000 from 2/3/2009 - 04/8/2009 2 homes sold. The short sale homes sold for $3,763 Above the current average list price.
Short sale homes in Stevenson Ranch are listed for less but are selling for more then the bank owned homes during the 2/3/2009 - 03/2/2009 time period. During this time period the numbers have changed. Previously Bank owned homes sold for more then short sale listings.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN VALENCIA MAY 28, 2009:
There are 6 active bank owned homes for 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.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN VALENCIA MAY 28, 2009:
There are 59 active short sale homes for 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.
Short sale homes in Valencia are listed for more and are selling for more then the bank owned homes during the 4/8/2009 - 5/28/2009 time period. During this time period the numbers have changed. Previously Bank owned homes sold for more then short sale listings.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN VALENCIA APRIL 8, 2009:
There were 13 active bank owned (REO's) single family homes for sale in Valencia, 6 in back up 27 pending.
Average list price: $452,600
Average sale price: $424,940 from 2/3/2009 - 04/8/2009, 31 homes sold.
The bank owned homes sold $27,660 Below the current average list price.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN VALENCIA APRIL 8, 2009:
There were 86 active short sale, pre foreclosure single family homes for sale Valencia, 30 in back up 24 pending.
Average list price: $452,112
Average sale price $439,625 from 2/3/2009 - 04/8/2009, 16 homes sold. The short sale homes sold for $12,487 Below the current average list price.
Short sale homes in Valencia are listed for less but are selling for more then the bank owned homes during the 2/3/2009 - 04/8/2009 time period. During this time period the numbers have changed. Previously Bank owned homes sold for more then short sale listings.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN SAUGUS MAY 28, 2009:
There are 14 active bank owned homes for sale in Saugus, 4 in back up 16 pending.
Average list price: $373,006
Average sale price: $361,910 from 4/8/2009 - 5/28/2009, 19 homes sold.
The bank owned homes sold $11,096 Below the current average list price.
Bank owned homes in Saugus are listed for less and selling for less then short sale homes during the 4/8/2009 - 5/28/2009 time period.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN SAUGUS MAY 28, 2009:
There are 44 active short sale homes for sale in Saugus, 41 in back up 23 pending.
Average list price: $437,779
Average sale price: $406,500 from 4/8/2009 - 5/28/2009, 14 homes sold. The short sale homes sold for $31,279 Below the current average list price.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN SAUGUS APRIL 8, 2009:
There were 13 active bank owned (REO's) single family homes for sale in Saugus, 7 in back up 14 pending.
Average list price: $352,476
Average sale price: $386,800 from 2/3/2009 - 04/8/2009, 32 homes sold. The bank owned homes sold $34,324 Above the current average list price.
Bank owned homes in Saugus are listed for less and selling for less then short sale homes during the 2/3/2009 - 03/2/2009 time period.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN SAUGUS APRIL 8, 2009:
There were 51 active short sale, pre foreclosure single family homes for sale in Saugus, 31 in back up 26 pending.
Average list price: $420,755
Average sale price: $522,166 from 2/3/2009 - 04/8/2009, 6 homes sold. The short sale homes sold for $101,411 Above the current average list price.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN NEWHALL MAY 28, 2009:
There are NO active bank owned homes for sale in Newhall, 2 in back up 10 pending.
Average pending list price $347,480
Average sale price $359,072 from 4/8/2009 - 5/28/2009, 11 homes sold.
The bank owned homes sold $11,592 Above the current average list price. Bank owned homes in Newhall are listed and selling for less then short sale homes during the 4/8/2009 - 5/28/2009 time period.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN NEWHALL MAY 28, 2009:
There are 20 active short sale homes for sale in Newhall, 17 in back up 11 pending.
Average list price: $377,569
Average sale price: $363,800 from 4/8/2009 - 5/28/2009, 10 homes sold. The short sale homes sold for $13,769 Below the current average list price.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN NEWHALL APRIL 8, 2009:
There were 6 active bank owned (REO's) single family homes for sale in Newhall, 1 in back up 12 pending.
Average list price $350,380
Average sale price $396,569 from 2/3/2009 - 04/8/2009, 8 homes sold. The bank owned homes sold $46,189 Above the current average list price.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN NEWHALL APRIL 8, 2009:
There were 34 active short sale, pre foreclosure single family homes for sale in Newhall, 15 in back up 12 pending.
Average list price: $368,434
Average sale price: $345,500 from 2/3/2009 - 04/8/2009, 2 homes sold. The short sale homes sold for $22,934 Belowthe current average list price.
Bank owned homes in Newhall are listed for less But short sale homes are selling for less during the 2/3/2009 - 03/2/2009 time period.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN CANYON COUNTRY MAY 28, 2009:
There are 12 active bank owned homes for sale in Canyon Country, 2 in back up 31 pending.
Average list price: $425,158
Average sale price: $322,079 from 4/8/2009 - 5/28/2009, 42 homes sold.
The bank owned homes sold $103,079 Below the current average list price.
Bank owned homes in Canyon Country are listed for less and are selling for less then short sale homes during the 4/8/2009 - 5/28/2009 time period.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN CANYON COUNTRY MAY 28, 2009:
There are 66 active short sale homes for sale in Canyon Country, 37 in back up 45 pending.
Average list price: $438,883
Average sale price: $340,210 from 4/8/2009 - 5/28/2009, 19 homes sold.
The short sale homes sold for $98,673 Below the current average list price.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN CANYON COUNTRY APRIL 8, 2009:
There were 14 active bank owned (REO's) single family homes for sale in Canyon Country, 9 in back up 35 pending.
Average list price: $298,392
Average sale price: $323,992 from 2/3/2009 - 04/8/2009, 39 homes sold.
The bank owned homes sold $25,600 Above the current average list price. Bank owned homes in Canyon Country are listed for less and are selling for less then short sale homes during the 2/3/2009 - 03/2/2009 time period.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN CANYON COUNTRY APRIL 8, 2009:
There were 97 active short sale, pre foreclosure single family homes for sale in Canyon Country, 17 in back up 44 pending.
Average list price: $383,370
Average sale price: $361,991 from 2/3/2009 - 04/8/2009, 12 homes sold.
The short sale homes sold for $21,379 Below the current average list price
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN CASTAIC MAY 28, 2009:
There are 8 active bank owned homes for sale in Castaic, 4 in back up 13 pending.
Average list price: $382,439
Average sale price: $372,891 from 4/8/2009 - 5/28/2009, 11 homes sold.
The bank owned homes sold $9,548 Below the current average list price.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN CASTAIC MAY 28, 2009:
There are 24 active short sale homes for sale in Castaic, 21 in back up 12 pending.
Average list price: $358,412
Average sale price: $354,142 from 4/8/2009 - 5/28/2009, 7 homes sold.
The short sale homes sold for $4,270 Below the current average list price.
Short sale homes in Castaic are listed for less and are selling for less then bank owned homes during the 4/8/2009 - 5/28/2009 time period.
ACTIVE SINGLE FAMILY BANK OWNED/REO HOMES FOR SALE IN CASTAIC APRIL 8, 2009:
There were 8 active bank owned (REO's) single family homes for sale in Castaic, 1 in back up 11 pending.
Average list price: $380,088
Average sale price: $408,806 from 2/3/2009 - 04/8/2009, 16 homes sold.
The bank owned homes sold $28,718 Above the current average list price. Bank owned homes in Castaic are listed for less and are selling for less then short sale homes during the 2/3/2009 - 04/8/2009 time period.
ACTIVE SINGLE FAMILY SHORT SALE/PRE FORECLOSURE HOMES FOR SALE IN CASTAIC APRIL 8, 2009:
There were 33 active short sale, pre foreclosure single family homes for sale in Castaic, 10 in back up 13 pending.
Average list price: $388,611
Average sale price: $414,750 from 2/3/2009 - 04/8/2009, 4 homes sold.
The short sale homes sold for $26,139 Above the current average list price.
With the constantly changing market we are in my goal is to keep you up to date with the most current statistics in the Santa Clarita Valley. As potential buyers or sellers these numbers help you to understand what the price ranges are for bank owned and short sale properties. 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. There is a difference between a pre foreclosure and a foreclosure. The time period between the first missed payment and the final bank sale is called the pre foreclosure phase. Foreclosure is a legal process that is initiated whenever a homeowner defaults (stops making payments) 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 type 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.
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 Clarita's Certified Distressed Property Experts, CDPE. By dealing with an agent who has earned the CDPE designation, buyers and sellers ensure that they are working with experienced short sale real estate professionals that are equipped to handle their specific needs.
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 families get on the path to recovery.
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 Santa Clarita short sale Realtors you call, let us be your pre foreclosure resource.
Do you know of anyone who is thinking about moving to the Santa Clarita Valley? Let me show you this beautiful community among others here in the Southern California area. If you would like to search specifically for Santa Clarita, or any other areas of Southern California go to: Search the MLS like a Realtor
You can tract the Santa Clarita Short Sales and Bank Owned statistics on a monthly basis. In my archives click on the SANTA CLARITA SHORT SALE AND BANK OWNED PROPERTIES FOR SALE button.
*All information deemed reliable but not guaranteed, information directly from SOCAL MLS
Friday, May 15, 2009
Important information for Santa Clarita First Time Home Buyers the will save you Money
For Santa Clarita first time home buyers it is a very exciting time, you have just finished escrow and are all moved in. Now the mail starts coming and you notice letters that appear to be from government agencies telling you that you need someone to help you to file a Declaration of Homestead. Your asking yourself 1. what is a Declaration of Homestead? and 2. there are more fees? I thought I was done with all the fees associated with buying a house in escrow! I believe in education, the more you know the better you can make an informed decision. So what is a Homestead and what does it Do?
A Homestead helps to protect you from losing your house to people you owe money. If you are sued for money in court and lose, the person who sued you will receive a judgment from the court. If you do not pay the judgment, they can try to collect the money you owe by garnishing
your wages or bank accounts, or by having your automobile or home sold to pay the debt. The Homestead law protects a certain amount of the value of your home from being taken to pay the judgment. There are 2 kinds of Homestead Exemptions: one is automatic and the other is declared.
Automatic Homesteads
Every homeowner has an automatic Homestead Exemption of at least $50,000 for his or her residence. This protection does not require the signing or filing of any papers or documents. The amount of the Exemption increases to $75,000 if at least one member of the family unit living in the house owns no interest in the house, as, for example, when a homeowner lives with his or her minor children. If a homeowner is 65 years or older, or is physically or mentally disabled, the amount of the Exemption is $125,000. The $125,000 Exemption also applies to persons 55 years of age and older if the person is (1) single and has a gross annual income of not more than $15,000, or (2) married and the individual and his/her spouse have a combined annual income of less than $20,000, and the sale is involuntary.
Declared Homestead Exemption
The homeowner can have a Declared Homestead Exemption as well as filing a Homestead Declaration form with the County Recorder in the county where the house is located. It is important to note that the amount of the Exemption does not change or increase when a Homestead Declaration is filed. A Declared Homestead offers extra protection in that it is not automatically lost when a homeowner moves. It will also protect proceeds of the sale exempted by the Homestead from creditors for six months after the house is sold, even if the homeowner voluntarily sold the house.
How Do I File A Declared Homestead?
It is easy to file a Declared Homestead by yourself. You do not need to pay someone to do it for you. Simply buy a Homestead Declaration form from an office supply store that carries legal forms. To fill out the form all you need is your name, the name of the co-owner, if any, and the legal description of the property, which can be found on your deed. Sign the form and have it notarized. Take or mail the form to the County Recorder’s office along with the required recording fees. What A Homestead Does Not Do A Homestead does not protect against the forced sale of a house by a bank, savings and loan or other lender holding a mortgage Deed of Trust on the home, or against the enforcement of a valid mechanic’s lien, or a judgment for child support or spousal support. Warning!
Homestead Filing Services
Many homeowners, especially those who have just purchased a home, receive mail from Homestead filing services. The letters often look like they are a government office and lead you to believe that you must file a Declared Homestead. Don’t be fooled. The law prohibits Homestead- filing agencies from making false or misleading statements or presenting themselves as a government agency. The law also prohibits them from charging more than $25 to file a Homestead Declaration or from collecting any fees until after they have recorded a Homestead Declaration.
Content derived from Los Angeles County Department of Consumer Affairs website, as a homeowner verify all information.
Thursday, May 14, 2009
President Obama's Admistration announces new details about FAP, Foreclosure Alternatives Prevention
Good news comming from Washington , D.C. , today. President Obama's administration announced new details under its Foreclosure Alternatives Program (FAP) enabling servicers and borrowers to pursue short sales and deeds-in-lieu (DIL) of foreclosure in cases where the borrower is generally eligible for a Making Home Affordable modification but does not qualify or is unable to successfully complete the three month trial period. The program, effective through 2012, requires that prior to proceeding with a foreclosure, servicers must determine if a short sale is appropriate.
The administration has recognized the need to streamline the short sale and deeds-in-lieu processes, and has provided viable options to homeowners who have fallen behind on their mortgages but owe more than their homes would sell for in today's challenging market. We also appreciate the efforts of our colleagues at NAR for keeping this issue front and center in our nation's capital. Incentives in the FAP program include $1,000 for servicers for successful completion of a short sale or deed-in-lieu of foreclosure; $1,500 for borrowers/homeowners to help with relocation expenses; and up to $1,000 toward the cost of paying junior lien holders to release their liens ($1 from the government for every $2 paid by the investors to the second lien holders). Hopefully these incentives will convince the servicers to work with Realtors on short sales.
The FAP includes streamlined and standardized documents, including a Short Sale Agreement and an Offer Acceptance Letter to minimize complexity and increase use of the short sale option. Servicers will independently establish both property value and minimum acceptable net return, in accordance with investor requirements, based on an appraisal or one or more broker price opinions, issued no more than 120 days before the date of the short sale agreement.
In the Short Sale Agreement, servicers must give borrowers/homeowners at least 90 days to market and sell the property, or up to one year, depending on market conditions. The property also must be listed with a licensed real estate professional with experience in the neighborhood, and no foreclosure may take place during the marketing period, of at least 90 days, as specified in the Short Sale Agreement.
The Short Sale Agreement also must specify the reasonable and customary real estate commissions and costs that may be deducted from the sales price. The servicer must agree not to negotiate a lower commission after an offer has been received. Servicers may not charge fees to borrowers/homeowners for participating in the program. Servicers have the option to require the borrower/homeowner to agree to deed the property to the servicer in exchange for a release from the debt if the property does not sell within the time allowed in the Short Sale Agreement, plus any extensions.
Additional details will be forthcoming. Please check C.A.R.'s Market Response Center for updated information as it becomes available.
If your dealing with a financial hardship in the Santa Clarita Valley or San Fernando Valley that has you considering a short sale, please contact Jennifer & Gary Ricco at Keller Williams VIP Properties for a free educational consultation. Our Consultations are to the point, no smoke and mirrors here. We provide verifiable facts & solutions. Go to our about page on our website for Short Sale facts. www.SantaClaritaCertifiedDistressedPropertyExpert.com
The administration has recognized the need to streamline the short sale and deeds-in-lieu processes, and has provided viable options to homeowners who have fallen behind on their mortgages but owe more than their homes would sell for in today's challenging market. We also appreciate the efforts of our colleagues at NAR for keeping this issue front and center in our nation's capital. Incentives in the FAP program include $1,000 for servicers for successful completion of a short sale or deed-in-lieu of foreclosure; $1,500 for borrowers/homeowners to help with relocation expenses; and up to $1,000 toward the cost of paying junior lien holders to release their liens ($1 from the government for every $2 paid by the investors to the second lien holders). Hopefully these incentives will convince the servicers to work with Realtors on short sales.
The FAP includes streamlined and standardized documents, including a Short Sale Agreement and an Offer Acceptance Letter to minimize complexity and increase use of the short sale option. Servicers will independently establish both property value and minimum acceptable net return, in accordance with investor requirements, based on an appraisal or one or more broker price opinions, issued no more than 120 days before the date of the short sale agreement.
In the Short Sale Agreement, servicers must give borrowers/homeowners at least 90 days to market and sell the property, or up to one year, depending on market conditions. The property also must be listed with a licensed real estate professional with experience in the neighborhood, and no foreclosure may take place during the marketing period, of at least 90 days, as specified in the Short Sale Agreement.
The Short Sale Agreement also must specify the reasonable and customary real estate commissions and costs that may be deducted from the sales price. The servicer must agree not to negotiate a lower commission after an offer has been received. Servicers may not charge fees to borrowers/homeowners for participating in the program. Servicers have the option to require the borrower/homeowner to agree to deed the property to the servicer in exchange for a release from the debt if the property does not sell within the time allowed in the Short Sale Agreement, plus any extensions.
Additional details will be forthcoming. Please check C.A.R.'s Market Response Center for updated information as it becomes available.
If your dealing with a financial hardship in the Santa Clarita Valley or San Fernando Valley that has you considering a short sale, please contact Jennifer & Gary Ricco at Keller Williams VIP Properties for a free educational consultation. Our Consultations are to the point, no smoke and mirrors here. We provide verifiable facts & solutions. Go to our about page on our website for Short Sale facts. www.SantaClaritaCertifiedDistressedPropertyExpert.com
Wednesday, May 13, 2009
Buying a condo with a conventional or FHA loan in Santa Clarita no problem right? You need to read this before you even get into your Realtors car.
Condo owners not only share common walls and roofs, they also share one anothers financial burdens. Lending practices are constantly changing which is forcing lenders to look more closely at the makeup of entire complexes before they fund loans to prospective buyers or to people who have equity and want to refinance.
With the ever changing real estate market it's making it tougher to buy and sell condos, which are widely considered the housing market's shakiest segment because they are popular with entry-level buyers. The lending practices are also charging higher fees and requiring larger down payments from condo buyers while limiting where they can live. A lot of foreclosure-related losses have come from condo lending, pushing prices lower and wrecking condo association budgets.
In the recent past, FHA policies barely affected the condo market. Home buyers had abandoned FHA mortgages being lured by subprime loans and easy credit. Developers did not bother to get their buildings approved by HUD, Housing and Urban Development when they were first built. But after the subprime market crashed, borrowers flocked back to the FHA, and suddenly, its policies matter.
Here is an example of what is happening: A buyer wants to purchase a condo with a conventional loan because they can get a lower interest rates and pay no PMI, private mortgage insurance. But days before they close on their condo purchase the lender learns that to many residents in a complex were overdue on condo association dues. The only other option to purchase the condo is to go with FHA financing. Now here's the tricky part is the condo on the FHA approved list? If the condo complex is not FHA approved the borrowers only option is to try and get a the spot-approval to obtain FHA financing, which may take time and not be granted.
The stakes are even higher for buyers interested in newly built condos. In those buildings, 70% of the units must be presold before Fannie Mae or Freddie Mac will buy related loans, though exceptions are made. Previously, only 50% had to be presold.
You as a buyer need an experienced agent that understands 1. which complexes are FHA approved 2. which ones could get a spot approval. Buying a condo is an important financial decision. You want to make the right choice - an informed decision.
As a buyer you need an agent who truely understands the in's and out's of this market and can help you get your desired condo whether it be a bank owned, short sale, or a traditional listing. With so much information and misinformation you need an agent that is not an average agent to guide you through these investment opportunities.
My husband and I are Santa Clarita's Certified Distressed Property Experts, CDPE. By dealing with an agent who has earned the CDPE designation, buyers ensure that they are working with experienced real estate professionals that are equipped to handle their specific needs.
If you would like to search for a condo in Santa Clarita, or any other areas of Southern California go to: Search the MLS like a Realtor.
If your interested in selling your Santa Clarita condo and would like a free over the phone market evaluation call 1.800.805.2409 extension 3011. This service is available 24 hours a day, 7 days a week with no obligation. With this call you can receive a copy of our special report "How to Sell Your Home Quickly and for the Most Money". The reason were are making this information available to you is we want you to know what your home is worth before you talk to an agent.
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