When our clients want us to monitor the real estate market, they are not wanting just the “numbers and relevant” data. They really want their Realtors to keep tabs on the local real estate markets and report back to them in a timely manner.
You can see by the graphic we uploaded directly from the Board of Realtors data, which we have access to, the Santa Clarita Valley homes that have experienced price changes did so in a “downward” form.
These are listing price to listing price reductions, as they pertain to listing price 🙂 .
The sellers hope is to “spur” more activity from the buyers in the world, by placing their home in a “more reasonable” range.
Also, when the Sellers are able to get their search below the next 10k, 50k or 100k increment, they are going to open up their advertising and marketing channels to many more real estate buyers online.
While we see that 92+ percent of those real estate buyers are searching online, you can bet all of them are searching for their own specific price ranges when it comes to real estate.
Let’s say Leon, he is searching for homes in the City of Valencia. He has been pre approved for a loan by a Local SCV Lender for 650k.
When Leon wants to search for homes, he takes into account his price range and what minimum “items” he wants the homes to have that his online real estate search reveals.
Valencia CA homes under 650k
Valencia CA Active Homes for Sale only
Valencia CA homes with at least 4 Bedrooms
Valencia CA homes with at least one bedroom downstairs
Valencia CA homes above 1800 square feet in “improvement” size
Valencia CA homes that have at least a 6000′ lot
With those parameters – when they are searching online and if your real estate agent did not notate that one of your bedrooms is located on the downstairs level, Leon is going to miss your home and will never see your listing, unless he violates his own search parameters.
FYI Home Seller Tip! – there are several such fields on the multiple listing service that are optional when an Realtors list a home therein. One such field is the “bedroom on the lower level” field. Don’t let your Realtor take the “lazy way” out and make sure you get a copy of the “MLS sheet”, to look it over. Ask for it!
Another item to take into account – Maybe your home is priced at 660k. Maybe it’s been on the market in excess of 12 days and you are ready to do your price reduction. Take it from me and from those in the Main World Advertising channels – reduce your price involving 9’s.
Example – the next best place to be, if you are thinking that you should reduce your home 10k – would be to hit the 11k mark and have your Realtors make it 649,900k.
There is something very alluring about the number 9 and when it’s involved in a price seems to make the property appear less expensive.
I hope you enjoyed today’s real estate radio show for the Santa Clarita Valley Cities. We will have this also uploaded to YouTube with a link back to our Realtor Blog for Santa Clarita real estate.