Foreclosures are going to be with us for a long time.
The combination of too much money with too easy terms created a huge bubble in the housing market which will take time to work out. The media is full of explanations, and there is plenty of finger-pointing going on and plenty of blame for everyone. The politicians, who don't understand the problem much less how to fix it, are taking the lead. The more gullible among us think they will personally get a government bailout in the bye and bye.
Our market reality is that most of the listings coming on the market are either foreclosures or short sales (aka pre-foreclosures). As owners of record try to get out from under these homes, prices are dropping as too few buyers are looking to buy too many homes on the market. And these buyers are finding that credit markets have gotten more strict and many of these buyers can't get financing, which means they can't buy that home.
So foreclosures are going to be the leading market maker for a while as the market sorts this out.
In the meantime...
We believe that it is always a great housing market, it just isn't great for everyone at the same time.
If you are a buyer who can get a home mortgage... great! Let's get started!
If you are a home owner who wants to keep your home, great! We may be able to help you too!
If you are a home owner who needs to sell. Hmmmm. It's not a great market for you, but let's see where you are and let's see what the options are.
If you are a bank or other institution with housing inventory who wants it sold, great! You have come to the right place!
We have never been busier, and we are thankful for that, as many Realtors who have only experienced the bubble market now leave this business. We will be here with you in good times and not so good.
Please give us a call at 661-290-3750 and let's get started, or send us an email with your contact info.
FAQs for Buyers and Realtors
General Public and Buyers:
How can I purchase an REO property?
All properties handled by the SCV Home Team are listed properties. All properties are required to be entered in the local MLS listing database, which means the only way to purchase a property managed by us is to contact a licensed Realtor like us to write an acceptable offer.
How is list price determined?
REO properties are listed and sold based on their fair market value. 'Fair market value' in our market area for foreclosures and bank-owned properties may be higher than what you may have read about in other states, or may have heard about on late-night sales pitches for seminars and 'get-rich-quick' systems. Our responsibility includes exposing the property to the general public and Realtors through the MLS system and obtaining the best possible price for our clients. Dual agency is available, where we represent both the seller and the buyer of a property. The price that a property actually sells for is by contractual agreement between the buyer and seller.What is the difference between a repaired and as-is sale?
All properties are analyzed to determine the best marketing strategy for the client. It is up to the client to decide if repairs will be completed or the property will sell "as is." Buyers wishing to purchase a property "as is" can contact the listing agent and make an "as is" offer prior to the repairs being completed.
Can you just sell me your listings, or can you sell other properties on the market?
We have literally many thousands of homes available to us to sell to you, and we can represent you professionally on your next purchase. Information on listed properties can be found on our home page of the SCV Home Team.
Please call us at 661-287-9164 and let's get started!
Or fill in the form and include your contact info.Realtor Gateway: How do I go about making an offer on one of your REO listings?
Go to the Realtor Gateway for step-by-step instructions on making an offer. Our goals are to make it just as easy as possible for you and your client to get through the REO process and on to a successful close of escrow. Thank you for showing our listing and working to make an offer to purchase!
What exactly are REO Management Services with the SCV Home Team?
Our field management services on behalf of our REO clients include both property management, various pre-listing tasks, marketing and closings in addition to other specialty services tailored to the needs of our servicing clientele. We have the experience and the systems in place to help you dispose of your asset inventory in our market area of the San Fernando and Santa Clarita Valleys in the northern Los Angeles County.
For more information about our REO Management Services, Asset Managers may call us direct at 661-287-9164 or send us an email.
EACH OFFICE IS INDEPENDENTLY OWNED AND OPERATED
