Paris911 – here is how that breaks down in actual language. Paris is for a person, not that person, but one of the team leaders of our Realtor Team HQ’d in the SCV Cities. Connor is the 911, That would be who’s typing feverishly on the keyboard now, explaining who we are and why Paris911.
As stated, we are in the Santa Clarita Valley Cities. Representing Buyers and Sellers of homes and real estate.
Today is our Sold Saturdays broadcast where we speak about the listings that have sold and whether they sold for more of less than their listing price.
With regard to the numbers for the local Housing Market and the sold Saturdays Broadcast, we have some very positive news related to the current market.
Meaning, properties are selling for more than listing price, at least a quarter of the time. That is good news as it relates to the local market and economy.
We will keep track of the home prices in the coming months and pass that information along to you as well.
When it comes to real estate and the way in which things work, we try to keep our fingers on the pulse of housing in the SCV cities.
Today, during our broadcast I thought we would talk about a circumstance where an active home that on the market for sale, may not be.
We ran into this yesterday with Percy and Lisa. Percy and Lisa are two of our real estate clients that have had their eye on a home that has been on the market 180 days.
It’s a standard sale – so the “interesting developments” and “extended time frames” that exist, with short sales, don’t enter this picture.
The 180 days on market timeframe, which was the case with this listing, for a Standard Sale Listing in the Santa Clarita Valley is strange. This is because our Average time frame for selling homes in the SCV is between 60-80 days on market.
When I first observed the days on market, I was sure that this home had been in escrow for quite some time in the past.
As my eyes scanned the page and got to the Confidential Remarks, those that only Agents are privy too, I observed what I thought to be true.
“This home is subject to the cancellation of the previous escrow.”
This means, they were indeed on the market for sale, they entered escrow and then the deal was “going to be” cancelled for some reason.
This could have been because the real estate buyer found out something that was “wrong” with the home they were in escrow with.
The real estate buyer may have lost their ability to finance the home that they wanted to buy. This could have come about with them losing their job, getting laid off or losing some type of financial backing which was necessary for them to buy the home.
Another reason why this could have cancelled is due to a “seller” issue. Maybe the seller did not want to budge when it came to the buyer asking for a credit for the repairs. In this circumstance – the seller still does not have the power to cancel the deal, the buyer would have to back out!
This may have been the “straw” that broke the camels back when it came to the buyer/seller relationship.