593 Total active listings in the Santa Clarita Valley Cities to include Acton, Agua Dulce, Castaic, Canyon Country, Newhall, Stevenson Ranch, Saugus, and Valencia. This is the number that is expected during the holiday season in most real estate venues.
- New listings entering the Santa Clarita real estate market 48
- 51 active homes for sale in the Santa Clarita Valley had their prices reduced
- 16 properties that were in escrow had those escrows canceled and re-entered the for sale market
- Active under Contract properties in the Santa Clarita Valley were 29 - These entered escrow from an active status
- 33 homes entered the Pending Status - these statuses were changed on these properties which were able to be viewed in the case other home buyers wanted to write a backup offer to no showings anymore.
- 61 homes entered the "closed" status - selling and recording into the new buyer's name
- 10 homes did not sell within the contractual time frame in the Santa Clarita Valley Cities and expired
- 12 homes were placed in the HOLD do not show status. This is the case when people get sick or there is some sort of "issue" that arises between the agents and their home sellers
- 6 homes were withdrawn from the "active" real estate market due to something
Most people don't want to appear as if they are "needing to sell". That is a view of the current real estate market that most agents won't offer to the neophyte home seller.
However, when listings are entering the market, during the holiday months, and especially between December 12th and January 1st - most "veteran" buyers and the hardcore investors in the world are running the numbers to see how aggressively they are priced.
We have a closing that should "should" happen on Christmas Eve. This listing entered the market during the first couple of weeks in December, just after Thanksgiving. We viewed it on the day it was listed, wrote the offer and were in escrow within the following couple of days.
I knew how much these particular homes had been selling for because it's part of my "process" when my home buyers are discussing making offers on residential real estate.
Once I started to run the numbers, after my clients said they had a keen interest in this home compared with the other homes that we had been viewing, I observed that the last homes had sold for 50k plus more.
To me, that was a great deal and understanding that in 2019 the home prices in the Santa Clarita Valley will be flat for a time, but start increasing again, I know that they were in good shape with a full price offer.
One of the statements I made to them was about the appraisal process and how this home could very well appraise for more than we offered on it.
Most times the appraisers only get to the number. That is all they are tasked with. Not getting to the number that the seller wants, but getting to the number of the buyer's offer.
If the home seller has their home on the market for $500,000.00 and the home buyer wrote their offer at $480,000.00 and the seller accepted, the home appraiser that is working for the lender who is loaning the buyer the money to buy the home only is tasked with getting the value of the home and proving it to $480,000.00.
If they go above that amount you can be assured it required very little extra work. So apparent was the additional equity that the appraiser could not ignore it, so goeth the Psalm. :)
Case and point, The home buyers observed that the last three sold homes in the same tract ranged to be 45k to 50k priced higher than the present home they wanted to write their offer on.
We monopolized on the fact that most home buyers are dormant during December and it paid off. My strategy was to offer the asking amount, but write a clean offer including a buyer's love letter. That worked out and they were able to get the home they wanted.
During the next few days, we conducted the inspections on the home with a certified and property "schooled" home inspector and the pest control "termite" inspector.
I caught a bout of the flew. A sore throat, coughing, and the runny nose. I told my clients that I would arrive at the property early, I'd open it up and wait in my car. I did not want them to catch anything that I had. I also know that one of my buyers are all about the overtime at work and if I were to be responsible for him not being able to work as he wanted, I would feel horrible.
After the inspections took place, I was on a conference call for the debrief between the home inspector and my home buyers. They were still inside the home when this debrief took place. I always ensure that there are no audio devices recording any part of my buyer's conversation that was put into place by the home sellers or their agent.
The home that we are in is not the property of my home buyers yet. It still belongs to the sellers and there is no expectation of privacy inside of it. The home was also vacant and had no internet "wifi" signature inside. If they had recording devices they were hidden, but the debrief took place anyway.
The issues covered were as expected. The home is newer and there were very few items to talk about. None were health and safety related and would have only required education and time to fix. Our Expert Santa Clarita home inspector gave the education and the home buyer learned how to "self-repair" the items that he discovered.
Here is the deal, when buying real estate you need someone on your side who is going to be upfront and honest about all of your dealings. The person who will tell you how it is and will arm you with the education while giving you room to make your own real estate decisions.
However, always making sure that your real estate agent tows a strong line. Never allowing you to make a foolhardy mistake and having the intestinal fortitude to inform you if you are about to do something they would not do and why.
I'm Connor MacIvor with REMAX and this is a Holiday 2018 real estate update for Santa Clarita Valley Cities. Make sure you listen to my latest real estate radio show and podcast where I speak about the housing market in the Santa Clarita Valley cities. I will be here for you when you are ready to be served in real estate and I promise to always put your first, but shield you from the junk that is intrinsically a part of each real estate transaction!