It’s a sign of the times, we’re now in an appreciating Santa Clarita real estate market where distress sales have much less of an impact. Foreclosure homes in Santa Clarita, as well as short sales, are significantly down in numbers.
As I outlined in my February 2014 Santa Clarita Real Estate Insider Newsletter, we’re seeing the home inventory grow. Even though it’s growing, foreclosures and short sales are much less part of the equation.
In January 2013, there were 34 bank owned / foreclosure sales in Santa Clarita. Fast forward one year to January 2014, and there were only 9 bank owned / foreclosures sales within the confines of Santa Clarita. Whether we’ll ever see a “shadow inventory” fall upon us, who knows? But I doubt it. Distressed sales are down in numbers, they aren’t even the best deals generally speaking anymore as many asset managers are seeking top dollar for their foreclosure homes in the appreciating market we’re in. Distress sales are also much less of what’s actually selling… being down 74% year over year, from Jan 2013 to Jan 2014 is a drop worth noticing.
Read all about it in my Insider Newsletter for February 2014, but going forward we will see more price appreciation, but the percentage of price growth will slow down; but that won’t be because of an increase of Santa Clarita foreclosure homes hitting the market. That just doesn’t seem to be in the cards.
Looking for Santa Clarita Foreclosure Deals? Some exist. ASK Robert! I can help you find them, we can start today if you call me @ 661-373-2374.
