In the past 7 days in the Santa Clarita Valley we have also have a plethora of activity as it relates to new listings hitting the market for sale.
Not “new” in the way of New construction or new housing from the new home builders, but inventory that has not been for sale in the past, or at least in a while.
A number that is still causing a bit of distress amongst Santa Clarita Sellers of Homes are the price changes that are being shown across the board in the local market.
We have been monitoring 87 of the listings that have had their prices changed in the past 7 day within the Santa Clarita Valley Cities.
You maybe surprised to find that those listings that had their prices changed were not all “reductions” in listing price.
There were a handful of distressed Short Sales that had been listed for sale which received their bank approval.
However, the bank approval was not at the price that was set by the real estate agent with the listing. The bank had an “official” appraisal completed and found that the agent was attempting to “undercut” the Fair Market Value of the home.
They then came back with a “higher approval” price for the short sale and mandated the realtor representing the short sale seller – modify the listing price. Hence that short sale would appear as an “increase” in price, not a reduction as was a majority of the Santa Clarita real estate listings.
Sometimes home and real estate sellers have a huge volley of activity reference to their homes when they first hit the market for sale.
This can be attributed to a GREAT Real Estate agent who knows their way around the “marketing and advertising” of real estate.
Some of those sellers start to think that they could have potentially placed their home on the market for less than they should have. They make the call and their agent increases the price.
We had three of those scenarios out of the 87 homes that had their prices changed during the past 7 days in the Santa Clarita Valley.
Reach out to us at REMAX of Santa Clarita – Paris911 Team, when you are ready. Also please make sure you view our new goSCV.com website.
It will cheer for you!