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Old 02-10-2011, 08:57 AM
 
90 posts, read 263,239 times
Reputation: 68

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Why are there homes for sale in Canyon Country, CA ( Santa Clarita area )
for $35,000-$65,000?

I dont' get it. Most homes in California are priced more like $250,00-$1,000,000

Has something changed in the Santa Clarita area to bring those prices down?
Some are foreclosures. Why would the foreclosure rate be so high there?
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Old 02-10-2011, 09:24 AM
 
Location: Las Flores, Orange County, CA
26,346 posts, read 80,779,498 times
Reputation: 17411
That must be a fluke or some weird transaction. Most homes are indeed $250K and up.

The foreclosure rate is high there (and everywhere else) for all the reasons you've read on the news.
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Old 02-10-2011, 09:51 AM
 
4,032 posts, read 8,304,082 times
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Anything too good to be true generally is.

I know for certain that many many short sales are listed with a "false" price. IE, say comps show homes in the area selling at $375K. But you find a short sale listing in ok shape listed at $289K. I guarantee you, if you offer $289K, or even $300K or $310K and are not paying cash, you have absolutely zero chance of getting the house. The bank lists at that price to entice interest, but has no intent of selling at that price.
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Old 02-10-2011, 12:50 PM
 
1,812 posts, read 2,734,220 times
Reputation: 751
that's illegal to post a false price.
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Old 02-10-2011, 01:25 PM
 
Location: Bella Vista, Ark
69,300 posts, read 79,490,574 times
Reputation: 38656
no one can really believe this.Why, who knows,but there are no homes for anywhere close to that.

Nita
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Old 02-10-2011, 01:51 PM
 
Location: Las Flores, Orange County, CA
26,346 posts, read 80,779,498 times
Reputation: 17411
I think it is possible if for example you sell the home to your brother or son or something like that...it does happen. When we were looking, we'd see homes in Irvine selling for $50K in neighborhoods which normally sold for $700K. Something about a non arms length transaction.
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Old 02-10-2011, 02:16 PM
 
4,032 posts, read 8,304,082 times
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Quote:
Originally Posted by 30STM View Post
that's illegal to post a false price.
Uh, not when it comes to real estate.
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Old 02-10-2011, 03:02 PM
 
1,465 posts, read 4,414,669 times
Reputation: 849
Quote:
Originally Posted by averageperson View Post
Why are there homes for sale in Canyon Country, CA ( Santa Clarita area )
for $35,000-$65,000?

I dont' get it. Most homes in California are priced more like $250,00-$1,000,000

Has something changed in the Santa Clarita area to bring those prices down?
Some are foreclosures. Why would the foreclosure rate be so high there?
Are they mobile homes?
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Old 02-10-2011, 03:38 PM
 
2,222 posts, read 9,143,358 times
Reputation: 3225
Quote:
Originally Posted by DowntownVentura View Post
Are they mobile homes?
No. I can see a 2 bedroom, 2 bath, 2 car garage, 1080 sf single family home built in 1999 listed for $25,000.

It does, however, have a homeowners association. The community features a pool, spa, and tennis courts.

Another home is larger and selling for $50,900 as a short sale. Also has homeowners association with a community pool. Home needs TLC.

Another home is a bank owned foreclosure for $58,900. Also has a homeowners association.

It looks like they may be in a development of condo homes built in the 90's. All homes appear to have homeowners associations.
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Old 02-10-2011, 03:45 PM
 
Location: Las Flores, Orange County, CA
26,346 posts, read 80,779,498 times
Reputation: 17411
Quote:
Originally Posted by Beth56 View Post
No. I can see a 2 bedroom, 2 bath, 2 car garage, 1080 sf single family home built in 1999 listed for $25,000.

It does, however, have a homeowners association. The community features a pool, spa, and tennis courts.

Another home is larger and selling for $50,900 as a short sale. Also has homeowners association with a community pool. Home needs TLC.

Another home is a bank owned foreclosure for $58,900. Also has a homeowners association.

It looks like they may be in a development of condo homes built in the 90's. All homes appear to have homeowners associations.

Recent sales prices are more indicative of what the market is like.

There are exactly three homes which sold for under $75K in the last three months in Santa Clarita.

Real Estate Search | Redfin
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