The most recent Santa Clarita short sales inventory report is here! The short sale inventory has steadily increased month after month just about. This should not be surprising, especially given the current credit crunch, declining home values, and rising unemployment in California. The last time I reported on the Santa Clarita short sale inventory, was October 15th, almost a month ago. The previous inventory level was at 245 Santa Clarita short sales on the market when reported to you last October. Today, the new inventory level stands at 268.
It’s very possible, that we will reach 300 by the end of the year. In fact, its extremely likely that we are actually over 300 already. How? A Realtor should always do the proper due-diligence prior to listing a home for sale, in order to find out how much the owner owes on the property. There are situations out there right now where a Realtor has agreed to list a home at a fair market value, but does not realize the owner owes more than that fair market value. In fact it’s possible some owner’s may not realize that either! Also, as homes come onto the market, listed as not being a short sale, often times a certain amount of them have to end up shorting due to necessary price decreases.
The biggest increases in short sale listings versus October 2007 numbers, took place in Castaic, and Canyon Country. All other areas remained at in-line with October numbers.
Take a look at the current Santa Clarita short sale inventory table below:
Santa Clarita Short Sale Inventory 11/12/2007
| Area | # Of Listings |
|---|---|
| Acton | 8 |
| Agua Dulce | 4 |
| Canyon Country | 88 |
| Castaic | 32 |
| Newhall | 34 |
| Saugus | 40 |
| Stevenson Ranch | 7 |
| Valencia | 55 |
| Total | 268 |
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