The average days on the market have fallen approximately 80 days since March.  Very few homes are relisting after they expire.  This has much to do with Short Sales going to the bank in foreclosure and homeowners testing the market.  Home values in Saugus are still incredible.

If we can be of any assistance to you in buying or selling your home throughout Saugus or the Santa Clarita Valley, please contact us.

The Best Deal in Santa Clarita…Right Now!

Just listed at $949,900 – only $281 per sq.ft.  Almost 3,400 sq.ft. on a large view lot in Westridge!

Standard Sale.  As far as we’re concerned, Short Sales are not deals despite their low list prices (wish prices).

List of features:

• 5 Bedrooms
• 5 Baths
• 3,385 sq.ft.
• 8,550 sq.ft. lot size
• Built in 2003
• Association pool & spa
• 2-car garage
• Gated
• Cul-de-sac
• Extremely desirable Westridge Community
• Club house, recreation facility, tennis included in HOA
• Oak Hills Elementary, Rancho Pico Junior High, West Ranch High School
• Easy access to Interstate 5

MLS listing information, photos, and maps.

Agent notes: UNBELIEVABLE GATE VALENCIA WESTRIDGE POOL + VIEW HOME!!! Total privacy, view of the valley, large lot- rare find! Upgrades include oversize tile, molding, iron stair case, built-ins, granite, master w/ travertine-WOW! Yard has pool/spa, BBQ/ patio cover, large trees + grass. SENSATIONAL VIEW!

If you are searching for a great deal in the Santa Clarita Valley, we can help you find it.  Please visit RedBrick Properties to contact us today.

Last month’s figures proved to be an aberration as Notices of Trustee Sale fell 18.91% back down to expected levels after a 22% spike last month.  Another large statistic is that Cancellations drop 13.75%, a reversal of last month’s trend, but remain up 75.10% year over year.

If you are interested in what is currently happening with foreclosures in California, then please watch this brief video from the CEO of Foreclosure Radar, Sean O’Toole.

Foreclosure Radar is the best source for tracking properties from pre-foreclosure, Notices of Trustee Sales and auctions, all the way to REO status.

Search for pre-foreclosures, REOs, and standard real estate for sale on our MLS Property Search.

Below is the current home activity for sale in Tesoro Del Valle, Valencia in the past six weeks.

There are currently 15 active homes available for sale in a wide range from $250,000-$890,000 in which 10 of these are Short Sales.

There are also 14 additional homes listed as a Short Sale, but they are in backup offers ranging from $275,000-$599,900.  In the case of a backup offer, this usually means that the seller is allowing backup offers to be submitted on the property, while the lien holder(s) is pending approval.  There are also 2 homes in backup offer status that are regular, standard sales.

Additionally, 6 homes are in pending status and are scheduled to close in escrow.  These range from $300,000-$559,000 at their list prices.

In the past six weeks, there were 9 homes that sold. The first home was a Short Sale that sold for $259,000 which was 100% of list price at $144 per sq.ft.  The second home was an REO/bank owned that sold for $285,000 which was 100% of list price at $158 per sq.ft.  The third home was a standard sale that sold for $310,000 which was 102% of list price at $160 per sq.ft.  The fourth home was a Short Sale that sold for $365,000 which was 105% of list price at $190 per sq.ft.  The fifth home was a Short Sale that sold for $520,000 which was 100% of the list price at $185 per sq.ft.  The sixth home was a Short Sale that sold for $585,000 which was 102% of the list price at $164 per sq.ft.  The seventh home was a Short Sale that sold for $610,000 which was 100% of the list price at $171 per sq.ft.  The eighth home was an REO/bank owned that sold for $880,000 which was 104% of the list price at $183 per sq.ft.  The ninth home was a standard sale that sold for $910,000 which was 91% of the list price at $199 per sq.ft.

We will continue to keep you connected with the real estate market in this community.  Stay tuned or subscribe for future blog posts.

Side note: Tesoro Del Valle is an awesome community at the northern edge of the Santa Clarita Valley.  It is a master-planned community with 1,100 homes.  Amenities abound in Tesoro Del Valle including a beautiful clubhouse, pools, spas, multi-use room, fitness center, tennis and volleyball courts, a baseball field, and so much more.

Let us know.  Would you consider living in Tesoro Del Valle, Valencia?

…And if we can be of any assistance to you in buying or selling your home, please contact us.

The last two months have seen a decline in homes prices for sale in Valencia, California, particularly zip code 91355.  Price reductions for active listings continue to increase as well.  This is further evidence that the Federal Home Credit Programs were helping to spur home sales prior to their ending in June.

If we can be of any assistance to you in buying or selling your home throughout Valencia or the Santa Clarita Valley, please contact us.

The Best Deal in Santa Clarita…Right Now!

Just listed at $775,000 – only $225 per sq.ft.  Exclusive Woodlands Community, paseos, and recreation!

Standard Sale.  As far as we’re concerned, Short Sales are not deals despite their low list prices (wish prices).

List of features:

• 4 Bedrooms
• 3 Baths
• 3,449 sq.ft.
• 5,593 sq.ft. lot size
• Built in 2001
• 3-car garage
• Exclusive, private & guard-gated Woodlands Community
• Association pool, spa, 2 tennis courts, parks
• Interstate 5 close

MLS listing information, photos, and maps.

Beautiful Ironwood located behind the gates in the Valencia Woodlands. This 4 bedroom 3 bathroom home features fresh carpet and paint throughout a 3 car garage an extra large family room off the large kitchen that boasts ample cabinets a walk in pantry and granite counter tops. Downstairs also features a formal dining area and living area and a very large bedroom/media room. Upstairs features a master bedroom with an extra large walk in closet, 2 addition large bedrooms and a loft are all with balconies.

If you are searching for a great deal in the Santa Clarita Valley, we can help you find it.  Please visit RedBrick Properties to contact us today.

Below is the current home activity for sale in Southern Oaks, Stevenson Ranch in the past six weeks.

There are currently 3 active homes available for sale ranging from $649,900-$849,999.

There are also 2 additional homes listed as Short Sales, but they are in backup offers at $695,000 and $750,000.  In the case of a backup offer, this usually means that the seller is allowing backup offers to be submitted on the property, while the lien holder(s) is pending approval.  There is also 1 home in backup offer status that is a regular, standard sale.

Currently, no homes are in pending status and are scheduled to close in escrow.

In the past six weeks, there were 4 homes that sold. The first home was a Short Sale that sold for $730,000 which was 97% of list price at $220 per sq.ft.  The second home was a Short Sale that sold for $842,000 which was 94% of list price at $219 per sq.ft.  The third home was a standard sale and sold for $890,000 which was 97% of list price at $232 per sq.ft.  The fourth home was a standard sale and sold for $910,000 which was 98% of list price at $274 per sq.ft.

We will continue to keep you connected with the real estate market in this community.  Stay tuned or subscribe for future blog posts.

Side note: This community can be found on the southern end of Stevenson Ranch which provides convenient access to Interstate 5. Southern Oaks sits in the foothills of the Santa Susana Mountains where Pico Canyon Road begins to wind through the hills to the west.  This is outside of the City limits of Santa Clarita in unincorporated Los Angeles County which makes it a great value in terms of property taxes and no Mello Roos.

Let us know.  Would you consider living in Southern Oaks, Stevenson Ranch?

…And if we can be of any assistance to you in buying or selling your home, please contact us.

The average days on the market (DOM) for Single Family Homes for Sale in Stevenson Ranch have fallen steadily since about March.  The average price per square foot has remained steady at around $250 per sq.ft. over the past 12 months.

Stevenson Ranch is an area in the Santa Clarita Valley that is always in high demand.  Homes are selling faster, but the price per square foot has remained stable.  This is an area that always makes great sense for a long-term investment.

If we can be of any assistance to you in buying or selling your home throughout Stevenson Ranch or the Santa Clarita Valley, please contact us.

The Best Deal in Santa Clarita…Right Now!

Just listed at $599,000 – only $200 per sq.ft.  Move-in ready!

Standard Sale.  As far as we’re concerned, Short Sales are not deals despite their low list prices (wish prices).

List of features:

• 5 Bedrooms
• 3 Baths
• 2,992 sq.ft.
• 9,762 sq.ft. lot size
• Built in 2004
• 2-car garage
• Walk to Tesoro Del Valle Elementary
• Phenomenal Tesoro Del Valle Recreation Center with pool and spa
• High demand neighborhood of Tesoro Del Valle
• HOA includes a beautiful clubhouse, pools, spas, multi-use room, fitness center, tennis and volleyball courts, a baseball field, and much more.

MLS listing information, photos, and maps.

Agent notes:  A beautifully upgraded and move-in condition home in ‘The Ranch’ at Tesoro Del Valle! As you enter this home, you are taken by the soaring ceilings in the living and dining room area. This spacious home has an open floor plan, hardwood/distressed flooring throughout the house, crown molding, high windows and a bonus room/den/office and a main floor bedroom encompass the first floor. A gourmet kitchen w/granite counters, travertine backsplash, stainless steel appliances and an island make it ideal for family dinners. Eating area opens to spacious family with a cozy fireplace. The gorgeous master suite features 2 stone vanities, tumbled marble shower, mosaic-tiled tub plus a huge walk-in closet which make it complete. The lush, pool sized-private back yard has fruit trees, palm trees, garden and a fire pit ideal for entertaining. Tesoro amenities include resort style clubhouse, pool and spa. This home is a must see! This home is a STANDARD sale!

If you are searching for a great deal in the Santa Clarita Valley, we can help you find it.  Please visit RedBrick Properties to contact us today.

In this current economy and real estate market, we continually hear that nobody can get loans and that is why homes aren’t selling.  Well this is partly true.

Appraisals are the main culprit in killing escrows right now.  It used to be that Realtors and home sellers felt relief once a buyer was approved by a lender for a loan and a “Letter of Intent” was issued.  No more!

But let’s not start blaming the appraisers.  They are actually doing a much better job than they did during the “sub-prime” era.

Since the HVCC (Home Valuation Code of Conduct) became effective May 1, 2009, banks are hiring third party appraisers for their loans.  These appraisers are doing a lot more work for less money, and for the most part, the appraisals are being submitted to the banks fairly accurately.

The real problem is the market data – the comparables.

Foreclosures, Short Sales, REO/bank owned sales, etc are usually sold below retail, and these homes are negatively affecting home values in the Santa Clarita Valley and throughout the country.

On a recent transaction, I represented a buyer who was relocating to Valencia.  Their home in Nevada was sold and in escrow.  Their buyer had signed off on all of their contingencies and had performed all of their inspections, which meant that escrow was a couple of weeks from closing… but the appraisal came back low – $70,000 too low!  My buyers had a beautiful home in a gated golf course community.  There were also many beautiful homes in their neighborhood which had sold at auctions, as Short Sale bank approvals, REOs, you name it.  Also, there were several active Short Sales on the market.  These distressed properties were adversely affecting my client’s home value, and directly ruining their chance on buying their new home out here.

So what did they do?

My clients shelled out $400 themselves for another independent appraisal which came back $30,000 higher.  It the end, it worked out.  The new appraised value of their home and their buyer’s loan was now only $5,000 apart.  Since their buyers really wanted their home, they chose to pay the additional $5,000 as part of their increased down payment.

Appraisals are currently making escrows shaky, but both the buyer and seller have a few options to save the deal and close.  I hope you found this information helpful.

If I can be of any assistance to you in buying or selling your home throughout the Santa Clarita Valley, please contact me.