When it comes to selling real estate and homes, sometimes prices changes are necessary.
They can be a little or a lot. Either way, they do their fair share of sparking the buyers, in the current markets, into movement.
The other benefit of even a small price adjustment is that it’s a chance for your realtor to talk about your home again.
The same case would exist if you had just completed a bathroom or kitchen remodel during the “listing period”.
While that is not recommended, typically during the sale of a home, It does happen.
Some sellers equate a 10k price reduction to doing a 10k renovation to the home they are selling.
In that case, worse case scenario, the home won’t sell and the x-seller now has an upgraded space.
Santa Clarita Housing Market Statistics
During these past 7 days, my Team and I have been monitoring the following real estate activity in the SCV Cities.
- We have been watching as 83 new real estate listings entered the Santa Clarita Housing Market for sale
- 57 real estate listings have had their prices changed (more about that in a moment)
- 25 real estate listings in Santa Clarita Valley have re-entered the for sale market after being in escrow
- I have been tracking 88 real estate listings that entered escrow Resource – What is the Back Up Status
- When it comes to property not selling within contract and that contract expiring, I have seen 9 real estate listings Expire. Resource – How we can help you with your Expired Listing!
- I have seen 66 real estate listings in Santa Clarita enter the pending status of escrow
- 57 real estate listings sold to new buyers in the Santa Clarita Cities this past week
This is our current market in the Santa Clarita Valley Cities – Our 7 day report by The Paris911 Team.
Price Changes in Santa Clarita real estate listings
I have been monitoring 57 real estate listings that have their prices changed.
What you will see on this MLS photograph is the following:
The cities that I am monitoring very closely are going to be
Acton – Agua Dulce – Canyon Country – Castaic – Newhall – Saugus – Stevenson Ranch, and Valencia.
Each of those Santa Clarita Valley cities is broken down further into areas.
In fact, when we are working with either real estate buyers or sellers, the “AREA” is a very important part of our strategy in getting our real estate client what they want.
Primarily we have three sale types in the present market.
Over 91 percent of the Santa Clarita Residences for sale are Standard Sales. Regular – equity based residential real estate listings.
The owners have enough equity to break even – at least.
We then have the NOD, SPAY – status. NOD stands for Notice of Default – meaning that a specific home has not had a payment made on it and the mortgage company that holds the note filed a Default with the Court. This basically puts the court on notice so it it does foreclosure – the “bank” has fulfilled their due diligence.
SPAY – Stands for a Short Pay – aka Short Sale. This is a category selected what indicates the homeowner has hired a real estate agent in order to have them sell their home for less than what they owe.
This creates a loss for the mortgage holder and could be a painful experience for the human seller.
List Price / Bedrooms and Bathrooms / Year built and who said what year it was built / Square footage of the home – are all documented on this MLS snapshot.
BLD – Builder
ASR – Assessor
Approximately 44 of these real estate listings had their prices reduced during the Past 7 days in Santa Clarita real estate.
12 of these Santa Clarita residences were increases in listing price. Sometimes people ask the question pertaining to why would someone increase the price of a home?
It may have been a mistake when the agent entered the listing into the MLS and hit enter prior to proofing the various data entered.
Maybe the homeowner is so impressed at the traffic and with the feedback they are getting they told their agent to increase the price.
In the case of a short sale or short pay – it is very possible the bank came back with wanting more money than the buyer offered.
What about you?
During our time together you will most likely deduce a few things. First, I love the data, it explains the current status of the Santa Clarita real estate and housing market.
Second a client’s protection is my main focus in real estate.
Reach out to me when you are ready – I’m Connor MacIvor with REMAX of Santa Clarita, 25101 The Old Road, Santa Clarita CA, 91381 – Make sure you call me for an appointment – the more often I can be “in the field” speaking to people about my passion – which is real estate – the better!