If you are visiting this page from YouTube or Dailymotion, I wish to thank you for your viewing our video’s. While they are no where near Hollywood productions, they will keep you safe when making the largest investment’s of your lives.
In the future make sure you go to Paris911 dot com and type in the words – Market Update -, to return to the most recent market updates that we have produced with regard to the Cities that compose the Santa Clarita Valley.
Here is how the Santa Clarita real estate market is fairing as of the closing figures in Real Estate for the beginning of March 2012.
Available real estate for sale inventory in SCV is shrinking
We watch as our buyers and other agent’s buyers get frustrated with the market and the huge amount of Short sale games that exist on the real estate for sale market. Some of the agent are cutting the prices of their sellers short sales because they know there is no hope of the bank approving the short sale. They dramatically reduce the price because of the “legaleze” within each short sale listing, “The price, terms and conditions are all subject to bank approval…” – Meaning they could act like this is the “Price is Right” and list the home for sale at $1.00.
Would that generate multiple leads for that real estate agent? You betcha – But, that might create an issue amongst other real estate agents and savvy real estate clients.
Get your own Real Estate Agent working in your corner
I had a nice discussion today with a lady from Annapolis Maryland. It turns out that I know her husband, he was stationed at Central Facilities for the LAPD while I was back between 1994 and 1997. I was motors and he was Vice. Small world. Point being I have written about using the Listing agent when wanting to purchase real estate. Have a read as to why using the listing agent might not be the best idea you have had today…
She called about a home for sale in Sand Canyon, which is in Canyon Country. The listing was reduced today by half of it’s original price. The listing is a short sale which has the “typical” Short Sale disclaimer attached, “The sales price, terms and everything is subject to bank approval…”. Notice the word’s “Sales Price”, is mentioned? I ran the comparables on the Sand Canyon property. The value is still at 1.2 Million Dollars. However, it is for sale at $675,000. What do you think? Is the agent using this property as a lead generator? The bank will never approve that price. That price is 1/2 of where the actual, true and current value of that home is. FYI: The home was worth 3.5million dollars at the height of the market.
Beware of the short sale games that exist. Get good advice. And do not be misled by clever marketing tactics… Thanks for allowing me to ramble on…