Saturday, January 05, 2008

Bank Owneds Home Increase 30% in the San Fernando Valley

The number of bank owned homes has increased 30% in the past few months in the San Fernando Valley. Since Sept 23, 2007 the number of bank owned homes has increased 92%. Most notable are the areas that follow and their corresponding percentage increase in the past 2 months.

Woodland Hills Bank Owned Homes experienced a 60% increase in the number of bank owned homes.

Van Nuys Bank Owned Homes experienced a 53% increase in the number of bank owned homes.

West Hills Bank Owned Homes experienced a 116% increase in the number of bank owned homes.

Canoga Park Bank Owned Homes experienced a 76% increase in the number of bank owned homes.
Here is the graph:


There is a tremendous opportunity out there now to purchase bank owned homes in the San Fernando Valley & Santa Clarita Valley for up to 50% off market value. You only need a credit score over 680 and at least 5% down. If you qualify for an FHA Loan, you might qualify for a no money down loan or as little as 3%.

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