Watching the real estate market is quite simple. As long as an interested real estate buyer or seller is looking at the “actual” real estate data. Data that comes directly from the “source”. That source is the conglomeration of the local Boards of Realtors.
Our systems are fed by IDX – the Internet Data Exchange. You must be a licenced real estate agent and a member of the Board of Realtors – with signed agreement with all of the above, in order to pull this data and publish it for your clients.
The syndication websites cannot do it – only Active and Licensed real estate agents.
The data points for this mornings report for the Santa Clarita Valley market and the Cities that compose the SCV are as follows:
Clicking on the photo of my screen shot via the Multiple Listing Service platform, will take you to all of the new listings that have just been published in the Cities that compose the Santa Clarita Valley. You can always access the most current real estate listings for the Cities that compose the Santa Clarita Valley by typing the word “new” into the MacBoX at Paris911.com or in the right margin of this site. Without the quotes of course 🙂
As you can see – we have had 12 new listings that have entered the re-sale market in the cities that are within the SCV.
12 price changes as well. Most of these are indications of “short sale prices” being in error when the agents took the listings. Hopefully, those buyers that were in play with the purchase of those short sales, can step up to any “increase” that the bank may have asked for when approving the short sale.
7 properties fell out of escrow – this could be an indicator, that those “buyers of the short sales”(as referenced in the preceding paragraph), where the prices were increased, were unable to or unwilling to increase their purchase amount.
15 properties entered Back Up offer Status. This is an indicator of Escrow. With regard to short sales, when the offer is written and the “human” seller accepts the offer, it is now considered executed. However, escrow has not opened “officially” as of this point. The deposit check has not been transferred to escrow or cashed. The waiting game now starts with the banks and they do take their time 🙂
Here is a quick Short Sale Podcast recording I did yesterday – about Santa Clarita Short Sales and hiring the “BEST agent to perform” your short sale task.