Santa Clarita real estate news
January 05, 2015
Here are the stories we are covering today.
Market Update Mondays - Where is the local real estate market this week?
In the Santa Clarita Valley Cities we have had a total of 63 new real estate listings in the past 7 days hit the local for sale market.
20 real estate listings experienced price changes - some went up and some went down. You can tune into our Friday Finale Broadcast to see how those properties stacked up against the past reductions/increases.
22 real estate listings fell out of escrow within the Santa Clarita Valley Cities - this definitely is hard for the current real estate sellers. They had hoped that their real estate listing was going to sell, only to have the buyers back out and their agent have to active their listing once again.
As far as properties entering the escrow process with accepted offers and signed off contracts - My Team is currently tracking 30 of those. The Back UP position is easily explained in much more detail at this link.
Those homes, condos and town homes that did not sell within contractual timeframes were 39 in number. Again, the real estate sellers lose hope in the agent they had hired in the first place. This creates friction between the sellers of the homes that did not sell and the next agent up to bat. We have built an expired resource online for sellers of Santa Clarita real estate.
Here is a taste of the Valencia CA real estate market for Single Family Homes this week:
Current Real Estate Listings:
Currently there are a total of 530 active real estate listings throughout the Santa Clarita Valley Cities.
If you are seeing more than this number being reported, you are being lied to!
We have many of our clients email us, text us and call us about real estate listings that they have found online. After we recon them, we find they are not for sale. They are being used as a lead generation mechanism by the real estate syndication websites. Be careful what you give up. Something you may want to consider, something we spoke about on one of our past real estate radio shows, is getting a fake email address for only searching for real estate listings.
Especially if you are going to do so off of a Paris911.com System. Our's is fed directly on the multiple listing service. There is no middle "person" between you and the actual/live real estate listings that are on the market for sale in the Southern California Cities.
My Santa Clarita real estate team is monitoring 711 total real estate listings that are in the active/back up status.
That equates out to 181 real estate listings that are being advertised as wanting to continue with viewings and have other "back up" offers written on them. Don't get too excited. It has been my experience that over 75% of listings that are in "back up" position are there because their listing agent wants to continue with the lead generation. The sellers have no intension of continuing the showings on their homes at this point. Make sure your Realtor calls and runs the interference for you.
Loans and Lending this week:
We will be speaking about two new loan programs that have come about recently. They are both 3% down loans that are being offered by Fannie and Freddie. That is .5% less than the FHA lending down payment amount. The credit required to obtain one of these loans may be a bit more strict than FHA. However, you maybe able to finance condos/townhomes that are not FHA approved with this new loan program. Tune in after 1200pst on this Thursday for our Truth in Lending Broadcast.