Valencia CA Short Sales
For many distressed homeowners these days, a short sale is often the best alternative they have against foreclosure, and as such markets across the country have seen an increase in short sales in the past few years. Valencia is no exception to this trend and there are more Valencia, CA short sales on the market now than there have ever been before, as well as equally high numbers of Valencia, CA foreclosures and Valencia bank-owned homes.
Consequences like this are unavoidable when a market adjusts as it is doing right now. The good news is that the Valencia area is still very much a sought-after place to live, with excellent long-term growth prospects that make the market here more stable than those in other harder-hit areas.
The Valencia, CA Short Sale Process
With the market the way it has been, you’ve doubtless been hearing a great deal about short sales already. In essence, a short sale is an agreement between a seller and their lender, wherein the latter agrees to accept less than what is owed to them on the property. The rest of the loan is usually forgiven, thus allowing the seller to avoid foreclosure and the lender to avoid having to launch the typically lengthy and costly foreclosure process.
The obvious benefit for buyers of Valencia, CA short sales is the discounted price. But if you’re considering investing in one of the Valencia, CA short sales, bear in mind that it’s a bit trickier than your typical home purchase. More paperwork will be involved, for one, and you will often have to deal directly with the banks/lenders.
Let the professionals of Regal Realty of California help make this an easier process for you. Give them a call for more advice and information today.