You can see that we keep our fingers on the pulse of the local market place.
The biggest news as of late in the Santa Clarita Cities is the fact that we have had over 70 properties during the last week that had price reductions.
That is HUGE news and deserves some explaining. Before I get into that – make sure you go to our main website and type into the MaCBox the words “market update” without the quotes, to see how our Santa Clarita housing market is fairing.
These PDF reports will give you graphical information about the local real estate market and the current status of them.
You will also see that we have several other “intel points” covered within the same reports. We have the changes in Days on market rendering, the information regarding whether the property is a flip or not and we also have the real estate pricing trend status.
Price Reductions are BIG NEWS
What this means. When you have a property for sale it sometimes does not sell and needs it’s price reduced. Simple.
Not so many months ago, we have a majority of our real estate inventory that was short sale in nature. Those properties typically had a majority of price increases because of the banks wanting more $$$ for them, versus where the listing agent established their value.
Today we are watching as some over zealous agents are pricing their sellers home at more than FMV – in most cases, this is okay. In fact, I’d be the first to recommend it. However, go in understanding that the property will probably not sell for that amount.
As long as the sellers know and the buyers are viewing and writing, all is good in the world.
Those are the main reasons why properties are being reduced in price hand over fist. Be safe – Search well and please check out the number one local resource for Santa Clarita real estate.