Looking at the residential real estate numbers for our Friday Finale, pertaining to the Santa Clarita Valley Cities, we have more new listings than have entered the residential re-sale market in a long time.
83 new real estate listings have entered the re-sale market in the Santa Clarita Valley Cities – This includes Acton – Castaic – Canyon Country – Saugus – Stevenson Ranch – Valencia and Santa Clarita CA.
34 Santa Clarita real estate listings fell out of escrow and re-entered the re-sale market.
37 real estate listings entered escrow with signed contracts between Santa Clarita Buyers and Sellers.
1 Property expired – 52 real estate listings entered “pending” status – the most secure form of escrow.
60 Santa Clarita real estate listings sold (closed escrow).
We also have 43 properties that have experienced price changes.
The next question you may be thinking is reference to whether those price changes caused those listings to become more expensive or less expensive?
9 of the real estate listings had their listing prices increased in the Santa Clarita Valley.
The other’s were all reductions from their list prices.
34 real estate listings that had their listing prices reduced.
Meaning, that those real estate listings had been at a level that buyers were not willing to pay. There are also more reasons why prices may go up and or down in the real estate market.
Sometimes the properties that are being sold as Short Sales don’t get approved at the listing price or at the offering price. Sometimes the bank(s) comes back and says, “We will only allow the property to sell at 450k and not where you priced it at…”.
There are reasons for this, but for the most part, it is typically not an issue of greed on the banks side. They send BPO agents, real estate agents from the local cities that give a Broker Price Opinion on their real estate listing. They also, depending on the price, the banks will send out an appraiser to verify value.
Those are typically the two methods they use to verify if the sales and accepted offering price are reflective of the asset being sold short.
Be safe – thanks for reading our Friday Finale and we hope you will come back to see other weekly Friday Finale Shows reference to Santa Clarita real estate by the Paris911 Team at REMAX of Valencia CA.
You can also feel free to contact our team, we are working all weekend long, and would be happy to be your Realtors of Choice.