We just completed our latest Santa Clarita real estate housing market update.
The Paris911 Team at REMAX of Valencia has noticed that the local market is developing some interesting ways about it. One of which is the ability to sustain the purchase prices.
Investors cooling their jets
Apparently, there are enough people in the "real estate resale" market and investor types to keep pressing prices against the wall and those that are comfortable waiving their appraisal contingencies.
One of the issues with waiving the appraisal contingencies is that you may forfeit your deposit if you decide to back out when the appraisal comes in lower than you had expected.
Appraisal Guidelines are still in play
This happens because some of the real estate sellers are wanting to get more money than the appraisers say their homes are worth.
That is very typical "human nature". I would want the most for my home as I'm sure you would too. However, when people are asked to waive contingencies that are in place to protect them in the Santa Clarita real estate venue, that is when it starts to become a problem.
Make sure you know what you are getting into
While, most agent explain this process as it should be and emphasize to their clients that if they are uncomfortable with any part of the real estate dealing, they should get out, some agents do not.
Some agents tell their clients everything will be okay in order close the transaction. This is quite disheartening and has the world view of real estate agents somewhere close to whale blubber.
BEST Local Realtors in SCV
Be safe - hire the BEST REMAX of Valencia CA Realtor, or Realtor from another company you can find, and you will be well protected. Thanks for reading and thanks for commenting and sharing.