Santa Clarita Real Estate Run Down 8/11/2009
ByWe do continual Market Updates with reference to the Happenings within the Cities that compose the Santa Clarita Valley. Here is the latest numbers that reflect Acton, Agua Dulce, Castaic, Canyon Country, Newhall, Saugus, Stevenson Ranch and Valencia. (It is amazing that the more I write the cities how they start to flow alphabetically FYI)
So – what do these number mean?
Just a few new listings that are within the cities that compose the Santa Clarita Valley – First of which are 11 New Listings, there were 2 Real Estate Owned foreclosures that were contained in the 11. Within that 4 of those properties listed for sale were Short Sales.
We then break it down with Average Days on Market at 107 for each property that is listed and subsequently closes escrow. We had 15 properties turn from Active Status to Pending – When a property shows Pending – there is a pretty good bet that is it will survive the escrow period and close with that particular buyer.
Total properties that are either pending or back up status topple the scale at 1009 – this seemingly high number can be attributed to Short Sales in a holding pattern while the owner of the paper chews on the numbers and hard ship letters to see if they are going to allow the property to go at a short sale.
In July we have closed 431 escrows taking us to the 11th of August 2009.
11 escrows closed as of today’s date and Year to Date we have 2246 sold properties.
What will the future reveal in the Santa Clarita Valley for those buyers and sellers out there? There are a lot of Foreclosures in a holding pattern that are going to have to go somewhere, my guess is they will be coming onto the market to peak our REO and Foreclosure Inventory second quarter of 2010.
ARM’s – the fancy or Painful, Adjustable Rate Mortgages – there are a lot of these “Ugly” loans turning currently and in the next few months. These might be reason for more Short Sales and Foreclosures will populate the Real Estate Market.
Stay Tuned and HAVE A NICE DAY!!!
RSS Options