Realtor Update for Santa Clarita CA
When we watch the Santa Clarita real estate market as a whole, we are discovering that real estate listings are depleting faster than they are being added to the “saleable” inventory within the Santa Clarita Valley cities.
We are also watching as the listing prices are also increasing at an “abnormal” pace with the constrictive inventory.
Back to Apprasials coming back lower than offering price
That is creating a bit of an issue with Apprasial. This is what I mean.
When you are buying a home and have your real estate agent write an offer on that home, you trust that your real estate agent knows what they are doing. You are trusting that they will be your advocate and advisor related to how much you should offer on the home you want to buy.
Even when you do find that transparent real estate agent, sometimes the appraiser does not see eye to eye with them.
“Expert Movers only”
In fact, sometimes, your real estate agent may go in knowing you are offering more money than a property will appraise for. As long as they explain the “method to their madness”, you are golden.
The “method” typically is, we will submit the offer for the amount the seller is asking. The appraiser will come back lower, and the seller will, according to their agent that sold them out, will adjust with what the appraiser(your appraiser) says the value should be.
Paying for more than one Apprasial
They should also make sure, if the seller does not, your appraisal is going to be covered by your lender. It is painful to pay for an appraisal when it the real estate transaction is not going to get closed. In a tight market, sometimes this is the price of admission because of the other buyers in the market willing to roll the dice as well!
However, not everything is as easy as I have made it sound. There are also a lot of other dynamics at play with regard to an “offering dependent on appraisal” strategy in Santa Clarita real estate.
Make sure your Santa Clarita realtor sits down with you and explains everything, the A to the Z of how the current market is and what you should be watching out for.
Before you get into the Slideshare presentation – We have uploaded the PDF reports for the Santa Clarita valley cities housing markets that we compiled this AM.
BTW, Merry Christmas Eve and Merry Christmas.
Here is the PDF report you can obtain for anyone of the Santa Clarita Valley cities by heading to our Santa Clarita real estate website, Paris911 dot com, and typing into the MacBoX the word: Reports.