This presentation is for July 20, 2011. Today's market activity for the Santa Clarita Valley and the cities that compose it. We have also just completed a Santa Clarita Foreclosure Activity update for the cities that compose the Santa Clarita Valley.
As you can see we have had 15 new listings hit the market for sale in the Santa Clarita Valley within the last 24 hours. You can go to the MacBOX and type the word - new - into it to see the most current activity in the SCV Real Estate market.
We have had 23 price changes in the last 24 hours also. Although, we are in a declining real estate market, not all of the price changes should be viewed as reductions. With regard to short sales, we see price increases if the bank approving the short sale thinks the agent put the "value" too low.
BOM, Back on market, those properties that were in escrow, that are back on the market for sale are an indication of the instability of the current real estate market. More than likely, it was not as a result of "buyers remorse", the short sales were probably to blame, yet again. That conjecture is with regard to the values set in the beginning and the amount the Bank Approved to sell it for. Sometimes, buyers are "tapped out" when they make offers on real estate for sale. Any increase would push their Debt to Income ratios above the normal approval guidelines.
Be Safe and we look forward to speaking with you soon.
We also did a business post on our Santa Clarita Business Blog. Let us know what you think by commenting below, tweeting and liking on facebook - it is always very much appreciated!