I was just thinking to myself, what happens when we return to a "normal" real estate market?

Local real estate agentsMeaning the inventory is less than 1% distressed and most of those sales are not seen by the private sector.

This Foreclosure and Short Sale Blog will continue, but at what pace?

Today- We are able to post approximately 6 times a week. That's great for our methods and showing the world that the Santa Clarita foreclosure and short sale market look like.

But if the below "foreclosure update" is indicative of what's coming - there may not be much to write about.

Short Sales will be upon the Santa Clarita City communities throughout the rest of this year.  The debt forgiveness act expires December 31, 2013.  After that, the short sale seller will have to bear the full brunt of the tax implications.

That is the amount between what they owed on the mortgage and the amount their bank or banks settled for.

Today - we have not seen a case, personally, where one of our Sellers did not fit within the "debt forgiveness" guidelines - which is good for them.

Thanks for reading - where can we go tomorrow?  No one knows - but don't forget to check out our Daily Real Estate shows by The Paris911 Team at REMAX of Valencia CA.

Your New Foreclosures alert, All Santa Clarita Cities - NOD filings - Updated, found a match.

 

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

Preforeclosure 513124116 17542 DOVE WILLOW ST CANYON COUNTRY 91387 CA SFR 2871 4 3.00 07/23/2013 $458,749.00 $6,363.00