Santa Clarita real estate market update June 9, 2012 – Short Sales and price reductions

    Click on the graph to view the new Santa Clarita real estate inventory

    As real estate turns…

    Today, we present another daring saga with the newest entry onto the Santa Clarita real estate market.  We have always been there for our clients when it comes to getting them what they want when it comes to real estate.

    With the newest additions to the real estate market being 6 new listings, those are coming from most of the cities within the Santa Clarita Valley.

    Short Sales are top price changes…

    The newest listings that have had price changes are mostly short sales. Each of the short sale listings were approved at a different price than originally set by the real estate agent.  We cannot all be perfect, but even if you are a short sale seller – you should demand as much as you would if you were an “equity” seller.

    Have your agent give you their experience level and the amounts they were able to obtain for their sellers.  Ask for a 6 months history of sales and seller representation. If you know anyone that has been searching for a Short Sale Representative in the Santa Clarita vicinity – tell them about The Paris911 Short Sale Team at REMAX.

    BOM, back on market – not exploding…

    Moving onto the BOM’d listings – these are those that have entered back on market status. Again, each of the communities are represented when it comes to this update.  Most occurrences of properties coming back onto the market is not usually because a buyer has changed their mind.  It is usually because the short sale took so long to negotiate that the buyer found something else and their agent did not advise the short sale listing agent.

    This occurrence is Extremely typical in today’s market.  We have a buyers agent who has been out of the real estate game for a while.  She has returned to real estate and wished to work with a Top SCV Real Estate Team and we are honored.  However, I did not cover all of the “new games” with regard to the other agents and real estate inventory.

    She took out a buyer we gave her, found something that buyer loved, was heading back to my office to write the offer.  She called me while in transit, “Connor, we are coming back to write an offer on a home I just showed in Castaic..”.  I told her that was great, then asked if she had spoken with the listing agent before she showed the home?

    Whoops, we are changing the status…

    She had not and I then explained if the property has been on the market for 12 days, it is likely it has offers on it or is not available.  She responded that it is showing “active” on the multiple listing service.  I said that I understand that – but other agents have no loyalty to the MLS data and it’s being kept accurate.

    Final Word – the property had three offers on it, the seller had signed off on one, and the agent said to our Buyers Representative she was going to change the status in the MLS.

    If you think this frustrates the conscientious buyers of the world – imagine what it does to those of us earning a living representing the “conscientious buyers of real estate” 🙂

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