It is no secret that we are in the middle of a declining real estate market. Reductions are common place on real estate for sale in the Santa Clarita Valley. This iPhone screen shot showing 11 total price changes in the homes for sale in the Santa Clarita valley comes as no surprise.
These were only the reductions that took place in the last 24 hours. Of the 11 residential properties reflected, 1 increased the sales price and 10 were reductions in asking price.
The justification is as follows. The agent could have oversold the listing price in order to secure the listing. The seller could have not been keen to a lower listing price at the time of the signing of the contracts. A majority of these cases involve the properties being sold short(short sales) and as such, it sometimes takes pricing that is lower than FMV(fair marker value) to obtain a written offer.
It could also be an indication of urgency on the part of the seller. It is important to get good value up front before the property for sale hits the market. That is why the development of a plan with a local real estate expert is the first best step. Ask for a “Good Faith Estimate”, the (gfe) is the breakdown of the sellers costs.
Get to our Santa Clarita Real Estate MacBOX and type in the word – value – to see how much a specific home is worth in your city or Southern California Neighborhood. It takes 30 minutes or less. It is totally “realtor” hands off and uses the most advanced valuation software system.