Real Estate in the Valencia CA Summit does not follow the traditional pathways of commerce. You won't find any Black Friday Deals or Cyber Monday home buying trends.
During the past 30 days in the Valencia Summit, real estate is somewhat paused as we are seeing elsewhere in the other Southern California Cities.
The holidays are reflective of past years, 2018 is no different. We are seeing that homes are not flying off the shelves as they were back in July of 2018.
I'm also tracking the latest in real estate dynamics for the Santa Clarita Valley cities and in the Valencia CA Summit as well.
For a PDF on the local Housing Happening in Summit of Valencia real estate, click the link below.
You will see that at this current time in the Summit of Valencia we have more Stratford Collection actives than the homes that make up the San Marino's, The Chelsea's and the Windermere's.
8 Total listings are active and for sale in the Stratford Collection Townhomes as of the date of this posting on our Santa Clarita - Valencia Summit housing news page.
These Stratford Collection listings span from being on the market for 111 days down to 20 days. There is no doubt that in this area, they were hit by contagious fire. one listing went up and the others hit the market in quick succession.
Multiple listings in the same subdivision by the same Agent?
This brings us to a question that comes up often by home sellers related to who they should consider when wanting to sell a home with a lot of "same" competition? Do they choose from an agent who has a similar active listing? Or do they go outside of that agent and choose another due to the wanting to serve their best interest?
Most of our home sellers want to list with an agent who does not have an active listing in the same housing tract or subdivision. They want their agent to be on their side 100% when it comes to selling their home. This is a trend that is catching on, whereas, in the days of old, there were "neighborhood" agents. Those who have banged on just about every single door in a specific community, have done mailers and attend every single function that the area has to offer, as long as it's not just for residents. (unless the agent lives there) We live in the Valencia Summit and own real estate in Bridgeport. We can attend either of the HOA events, but if we wanted to have the same showing in Westridge for example, we'd have to find a back door to the inside, maybe a friendly invite by someone we sold a home to.
Today the neighborhood agents are not relied upon as they were in the past. People don't want to have their agent having another listing in their same subdivision. In a sellers mind, who is the agent working for first? Of course in a perfect world, that agent would have the best interests of both parties in their heart and do their best diligence to sell both properties.
If one seller is willing to take more of a loss than the other seller, it may cause the "less flexible" home seller to be unable to sell if there is a new comp set for the area. This would happen if the appraiser was unable to appraise a home at the "less flexible" home seller's price after the other home sells. In some cases, that home has to be taken off of the market because home buyers are not going to pay more for that home than what the last one sold for. There are many variables in the Summit to consider, all things being equal, this is one of those variables that arise when interviewing listing agents with competitive real estate listings.
Personally, I don't take competitive listings. If I had a seller in the Stratford Collection Townhomes call me to list their home for sale, and I did. If I were to receive another call while my seller's home was not in escrow, I would have the seller wait until my current seller's home is in escrow, or I would refer them to another qualified real estate agent.
My Same SCVnest business philosophy corresponds to other Subdivisions within the Valencia Summit. If I had an active Windermere listing, then I'd turn down other Windermere listings until my seller was in escrow. Before that time, if the new Windermere seller was unable to wait, I'd refer that listing to another qualified real estate agent who is ranked high and who has experience selling the Windermere homes in the Summit within the recent past. I would not trust those websites who say they "only list the Top agents". Those websites get paid by those "Top Agents" to be listed on those websites as "Top Agents". Call me and I'll make the proper referral.
My Summit listing method would apply if someone called me and Wanted me to list their Chelsea home for sale in the Valencia CA Summit. If I had a current Chelsea active and on the market and if that listing was not in escrow, I would have to decline if the Chelsea home seller could not wait for me. I would refer them out to a super qualified Valencia Summit Realtor with experience selling homes of the Chelsea style.
I might as well cover the last type of home located in the Summit. That is the San Marino subdivision. These homes have white exteriors with red tile roofs. If you have ventured through the Valencia CA Summit, you have bound to have seen these homes. Either waiting until my San Marino listing is in escrow, having the San Marino seller wait, or referring them to another qualified San Marino sales agent, would be reflective of my past assignments.
Dual Agency in Valencia Summit real estate
Hiring the real estate agent that will serve your best interest is very important. Dual Agency is something also that should be considered when wanting to hire a Valencia CA Summit real estate agent.
The sales agent - not the agent that the seller hired to list their home for sale. That is known as the "listing agent". The sales agent is the agent who brought the home seller the buyer. They represent the home buyer on the seller's home that their listing agent has listed for sale. The sales agent may not be different from the listing agent. California is one of the states that currently allow for something called Dual Agency.
That means that the same singular agent can represent the home seller and the home buyer on the very same home in the same transaction within the Valencia Summit or elsewhere in California.
Some states have outlawed Dual Agency. Canada is making Dual Agency a thing of the past Starting January 2019.
I have always thought that Dual Agency was something that should have a seller concerned about. It would be like hiring the same attorney that is presenting the state's case against you. If you tell them the truth, do you think they are going to really be able to defend you with confidence? Of course, they are supposed to. There is that attorney-client privilege. But to have the same attorney as those who are coming for you or that you have hired to go after someone else, that does not make sense.
This is the same way in which I view dual agency in California. Why hire the same agent who is already in contract with the home seller? To appeal to their greed inside? To find out the home seller's bottom line? Maybe you are thinking that the listing agent will tell you something they should not say? If that is the case, you should not hire them in the first place. They will throw you under the bus just like they are willing to sell their home seller under the bus for you.
I have told my clients that I am not comfortable with dual agency. After my speech, most of my clients have renewed trust in me and don't see it as an issue. However, at the end of the day, I have had less than a handful of dual agency transactions out of thousands in total.
Being the same agent for the home seller and the home buyer is not comfortable. Representing multiple real estate clients on the same home that we have listed for sale is also not comfortable. Buyers and Sellers need to know all parties so they can make their own best decisions regarding who should be employed to buy or sell their real estate.
Valencia CA Summit real estate update continued
As far as Cyber Monday Deals on the Valencia Summit real estate, here is what should be looked for. Find the listing that you have had your eyes on that has been listed on the market for the longest time without a price reduction. Then have your real estate professional pull the comps. When they do this you may find that the home seller is priced right where they are. It's that time which you are going to want to rely on the advice of your housing professional. However, never forget your position in the real estate transaction!
You are the Boss! You are the person hiring the agent to be on your side. On your side, if you are the Valencia home seller or on your side as the Valencia home buyer. At the end of their dissertation as to what they think, you still have all the cards. Have them make the offer where you want it to be. If they are unable, they seek a professional that will. There are a lot of us Valencia CA agents who consider our real estate clients our bosses.
Making mistakes are routine in real estate. Trying to help our clients from making those mistakes is being professional in Santa Clarita real estate.
We currently have 5 active San Marino real estate listings for sale in the Valencia Summit. The Valencia San Marinos are single family homes. Currently, there is a two bedroom with two bathrooms for sale through a four bedroom 4 bathroom model that is a Bankruptcy Listing. You may be unfamiliar with what a Bankruptcy listing is. They are not very common and basically, require court approval for everything and can be overbid - which is going higher than the current listing price. With real estate listings that are being sold by agents who are not from the Santa Clarita Valley, you will want to hire that local professional so that you can ensure you are getting all of the local disclosures. Some of the outs of area agents are not familiar with our local disclosures, FYI.
The final active listing that is currently on the market in the Valencia Summit area is one that is of the Windermere variety. This home is priced at 1,050,000 and is 3158 square feet with 5 bedrooms as advertised.
[listings title="Active Summit real estate listings in Valencia" qs="area=27393&sort=importdate&status=A" propcount="9"]
There are some other types of real estate statuses that cause the public to pause. One of those is called "hold do not show". This would indicate a Summit real estate listing where there was some issue between the homeowner and the agent. Maybe the homeowner is one that wants to take the holidays off from showing. It could be that someone is sick and showings are very inconvenient. That is why the Hold do now show status is used most often.
Some see that the listings are withdrawn. This would indicate that the Valencia Summit home is still under contract, but is the case where the home seller does not want to sell their home any longer. This status does not change the fact the home was on the market as do expired and canceled would indicate.
However, to get past any rendition showing that the home was previously listed for sale and did not sell, you would have the home canceled or expired for a period of 90 days. Some home seller uses this tactic if the home did not sell during their time on the market and if they are approaching the holidays in Valencia during a healthy real estate market. This is something that requires a home listing to be off of the market for 90 days, then the Cumulative Days on market - CDOM resets to zero, not showing any past listing timeframe.
I'm Connor with HONOR MacIvor and I want your business. I want to be your real estate agent when you are ready to have your Valencia - Santa Clarita CA home placed onto the market for sale. I will be here when you are ready and I always suggest to my housing clients call me way before you make the decision so I can be a proper real estate guide.
Be safe - please share and let me know when you are ready to buy or sell Valencia CA real estate. Meanwhile, enjoy our Santa Clarita real estate news blog with weekly updates of a critical nature and sort. Make sure you enter into our Summit Trail contest, whoops I think I just gave it away! Enjoy your walk!