Real Estate inventory is not dying, it’s multiplying

    One of the things that most real estate clients want to know is where the market stands currently.
    How is the current real estate marketThey want to know if it’s a buyers or a sellers real estate market and the best ways in which to take advantage of either.
    One of my Favorite Reporters, from the Santa Clarita Valley Signal Newspaper wanted to get some insight into the current state of the Santa Clarita real estate market.
    I explained the following:
    Last year at the same time we had approximately 400 units for sale in the Santa Clarita Valley Cities – all together, including all residential types – Single Family Residences, Condos and Town-homes.
    As of this AM – We have:
    756 Active real estate listings
    1062 total active and back up listings
    1332 total active, back up and pending listings (everything active and in escrow)
    These are much larger numbers when compared with last year.
    This excess inventory is creating a couple of interesting trends for our local real estate market. The sellers have been reducing their real estate prices more than they are increasing them.
    The Buyers are seeing they have more to choose from and are taking longer to make decisions about writing offers.
    In past 7 days we have had 98 listings that had their prices changed.
    Increased in price: 9
    Decreased in price: 89
    Those numbers have been pretty constant since March of 2014 – with regard to continued price reductions.
    The Price Reductions – from listing price, have not caused the “sales prices” to dip as of yet. It has created a “flat” real estate market with regard to sales prices.
    We will have to see if the “more inventory” trend continues, if so and if the buyers remain at their same pace reference to buying real estate, (106 real estate listings sold in the past 7 days), we could see that trend reduce the home values throughout the Santa Clarita Valley Cities.
    Thanks Jana Adkins for the opportunity to answer your great questions related to the local real estate world and serving the needs of those searching for the “truth” when it comes to real estate news!

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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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