Buyers canceling escrow because something better comes along

    Santa Clarita housing and market reports access pointIf you were to go back to mid 2013. Buyers were not very happy. In fact, prior to that summer, going back several months, investors were ruling the home buying game.

    In a lot of those cases, the investors did not care what the homes were appraising for. All They cared about is if the homes were “penciling” out in accordance with their plans.

    This was an interesting change of pace. The “owner occupant” real estate buyer was stripped of their ability to buy a home because the competition was so thick.

    Move forward 1 full year. In only a very few months, we have three hundred and fifty additional units for sale in the Residential Arena for the Santa Clarita Valley Cities.

    Pressing 750 real estate listings, we are seeing that buyers have much more to choose from. I’d venture to say that those buyers are much happier today than they have been in a long time. We see this with the Buyers we are actively working with today.

    And then Something better comes along…

    Here is where this may be chapping the “hides” of the current real estate sellers in the local real estate markets.

    Let’s say there is a buyer that has found a home and has their Realtor Write an offer. Once they do the seller views their offer, maybe does a little countering, and then we have mutual agreement by all parties and escrow opens.

    All is well and good in the world.

    Except…..  When, another home, something the buyer likes better, enters the for sale market.

    If it has only been a few days, the buyer can cancel their current escrow and move on the other home. While this will strike a deep chord for the real estate seller in the case of which was cancelled, and while some may view this as not being a good practice, it is responsible for some additional Back on Market real estate listings entering the local For Sale Markets, after being in escrow for short time. (make sure you check with your Realtor and local jurisdiction before you choose this path!!!)

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    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.

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