A Normal Real Estate Market

A "normal" real estate market is about 1% Foreclosure and Bank Owned Real Estate.  No matter how the economy is fairing - there are still folks that are having issues with employment and life changing events that befall them - some in a bad way :-(

This is a fact of life and unfortunate.  Today, we are in a declining real estate market.  No matter what you are reading, when there are those on the internet telling you the time to buy is now and we have hit bottom - I don't agree with the "having hit bottom" part.  I see that we have not completed our decent.  We have a ways to go. The question that I hope the "others" in the real estate world are explaining, is why they think we are at the Leveling off Point in Real Estate.

What "they" are saying

If you see that they are addressing that question, the question of "why" - I can deal with that.

I have made clear why I think we are not at the leveling off point as of yet, The sheer numbers of Bank Owned properties and the "notice of default" rates prevent a leveling off point at this time.  The Over Flow of REO inventory has got to slow down and the Absorption Rate of Real Estate needs to trim down to less than 60 days.  Once there - We will start to see as prices will become more stable.  We will also find that Buyers will come out in droves - especially the "cash type investors".

Waiting too long

Here is the answer - If you hold off too long, you, that might be using VA or FHA or 5% conventional types of financing, will be competing with the "20% down and cash investors."  The interest rates - although not going up like a rocket - probably will not stay at today's sub "4" rates.

One more thing worth mentioning - How much more do you think properties are going to decline?  It depends on that properties price range.  At the Top of The Santa Clarita Real Estate listings for sale - we are pushing 2.5 Million dollars - those types of properties are going to decline more than those Single Family Residences that are priced between 300K and 450K.

Where is the majority

Where are the majority of people with regard to price range? - You guessed it - in the 300K to 450K range.  These homes are not going to decline as much as those in the Higher Priced Bracket.  Just make sure you are getting good advice and make sure your real estate agent is pulling comps that are "apples to apples" matches to the home you wish to write an offer on.

Don't scratch my itch

When you are looking around for real estate on line, there are a lot of ways you can get real estate and foreclosure listings.  The last thing that you will want to do is pay for the services.  I must agree and I would not either.  If you get into a location that does not have a formalized Multiple Listing Service, you might need to pony up some funds to get access to the homes that are for sale.  Most of the cities in the USA have a Formal Board of Realtors that has all of the listing data contained in a centralized database, those  you should be able to get free access too.  For the others - use your own judgement.

Here are the newest condo's, town-homes and single family residences that are showing foreclosure activity in the Cities that compose the Santa Clarita Valley:

Your New Foreclosures alert, Paris911's Santa Clarita Bank Owned Real Estate Alert, found a match.

Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

Bank Owned 23775901 22115 PAMPLICO DR SANTA CLARITA 91350 CA SFR 1672 3 3.00 12/21/2011 $320,529.00 $299,250.00

Your New Foreclosures alert, Paris911's Pre-Foreclosure Alert for Santa Clarita Valley CA, found a match.

Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

Preforeclosure 23790993 25444 HARDY PL STEVENSON RANCH 91381 CA SFR 2654 3 3.00 04/12/2012 $531,074.00 $873,994.00

Preforeclosure 168675 25564 HEMINGWAY AVE H STEVENSON RANCH 91381 CA CND 1110 2 2.00 04/13/2012 $219,802.00 $357,554.00

Preforeclosure 509598029 26962 FLO LN 325 CANYON COUNTRY 91351 CA CND 994 3 2.00 04/13/2012 $147,306.00 $4,152.00

Your New Foreclosures alert, Paris911's Auction Alert for Santa Clarita Valley, found a match.

Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

Auction 23807026 18146 AMERICAN BEAUTY DR 1050 SANTA CLARITA 91387 CA CND 934 3 2.00 01/13/2012 $123,951.00 $220,151.00

Auction 23778098 27109 RIO PRADO DR VALENCIA 91354 CA CND 1307 3 2.00 01/20/2012 $249,500.00 $392,421.00

Your New Foreclosures alert, Paris911's Sold to Third Alert for Santa Clarita Valley CA, found a match.

Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

Sold to 3rd 23961445 16008 CALLE EL CAPITAN SANTA CLARITA 91390 CA SFR 768 1 1.00 12/21/2011 $96,315.00 $39,883.51

Sold to 3rd 270933 28218 BRYCE DR CASTAIC 91384 CA SFR 2309 5 3.00 12/21/2011 $383,042.00 $314,500.01

Sold to 3rd 42830930 29217 RIO LOBO WAY SANTA CLARITA 91354 CA CND 1798 3 3.00 12/21/2011 $256,882.00 $215,000.00