While we cannot go that far back with the Intel from our local Boards of Realtors, I would be willing to take NAR’s word for it. Just knowing what we know from being around 1 year ago, looking at personal closings for our clients last year compared with this year, it seems that more real estate homes, condo’s and town-homes were moving despite the typical “Holiday slowdown”.
However, this “moving” created further strain to a already lacking inventory in the Santa Clarita Cities.
I ran the numbers of properties that went pending during the month of October and compared them with November and December to the date of this post – the 28th. The numbers are quite impressive, and are outrunning the replenishment of inventory. There is something that I know for sure, most sellers are waiting until 2013 to place their real estate onto the market for sale. We have our sellers that are wanting to bide their time until next year to have us list their real estate listing.
- Real Estate entering pending status for October 2012: 101
- Pending homes, condo’s and town-homes for November 2012: 123
- Pending real estate during the dates of December 1 and December 28, 2012: 116
Santa Clarita Cities covered while obtaining this Data: Castaic, Canyon Country, Aqua Dulce, Newhall, Saugus, Stevenson Ranch, Santa Clarita and Valencia.
FYI - the pending status is used by a real estate agent that wants to have the property they have to sale, not show up as active on the public searches. While this is a great idea – sometimes it does fall short. Sometimes, some of the real estate syndication websites are going to keep the “pending” properties showing up when people search. The same with “Sold” properties. However, in theory – the pending status should only be used when a seller does not want to be disturbed further with those wanting to view and write back up offers. In addition,the listing agent should be very comfortable with the offer that is in place on the real estate listing, in order to use the Pending Status.
Another tidbit of intel that came up yesterday. When a listing is taken, it is mandated to be uploaded into the Board of Realtors where that real estate agent is a member. They have 48 hours to do so, unless there has been an extension given in writing. However, it is understood that once a real estate agent takes a listing – they place it into the MLS, Multiple Listing Service.
That same agent can, during those 48 hours, start uploading that listing to some of the “real estate flyer” creator sites like Postlets. They can also create virtual tours with the photos and share those on the Virtual Tour Creator websites, like Tour Factory. When they do so, the property they are entering into those systems does not have to be active within the Multiple Listing Service. In fact, I’d deem an agent to not be representing their seller to the fullest if they did not use at least these two systems.
However, after that listing is uploaded on Postlets and Tour Factory, It gets syndicated. Meaning, it gets sent to a bunch of real estate syndication websites. Including Zillow, Trulia, Realtor.com, Homes.com, Real Estate.com, and others you have heard of.
Question – Could an agent make up a listing, maybe without the sellers knowledge, or maybe just build a tour of a friends home, upload it and have it showing as if it is for sale to generate leads? Absolutely yes – because there is no enforcement arm with most of the Real Estate syndication websites.
Bottom line and how to keep safe when wanting to search. Get a local real estate expert to run the interference for you. If you manage to dig something up on line, send it to your agent so they can make the connections and report back to you with their findings. We had this occur with a great couple we are working with. They send me a postlets link to a listing. I called the agent who is only advertising his office number on the postlets flyer. I called his office number and left a message about the home that was being advertised for sale. I also tracked down his email address and sent him an email. I also inquired on the Postlets flyer for further information stating I have an interested party.
Approximately 13 hours later – nothing back yet. I’ll keep you posted. But do what our clients did, get a local real estate agent that is not scared of a little work and that is constantly training to be the best they can be in service, protection and skill.
Update at 0846. I found the agent on Twitter, I found their cellular phone number and found their TP website and an additional property flyer on-line. If he is still sleeping, he won’t be for long.