CLAREMONT REAL ESTATE MARKET WATCH - AUGUST 6-12, 2011
Okay, so this week's real estate market watch for CLAREMONT seems to be slowing down a bit. Maybe people are getting a bit nervous because of the issues with the federal budget and the downgrade in our nation's credit rating. The financial institutions have been hit as well and I think people are unsure of what will come of all this in the near future. It makes sense for yet another slow down, if you think about it logically. (YA, me trying to be logical!)
| Market Watch |
| New Listing (3) | |
| Price Change (7) | |
| Back On Market (4) | |
| Backup Offer (3) | |
| Expired (4) | |
| Pending (7) | |
| Sold (6) |
Okay, so this week's real estate market watch for CLAREMONT seems to be slowing down a bit. Maybe people are getting a bit nervous because of the issues with the federal budget and the downgrade in our nation's credit rating. The financial institutions have been hit as well and I think people are unsure of what will come of all this in the near future. It makes sense for yet another slow down, if you think about it logically. (YA, me trying to be logical!)
Anyway, there were three new listings on the market. Still moving along, but really slowly. Six have sold which means the loans are getting closed still which is extremely important. Between the pendings (7) and the back ups (3) ten are going into escrow.
Now for the regular issue. I was reading another persons blog who I highly respect. She was mentioning that she believes pricing is subjective - house by house. Now this is a true statement, some are in better shape than others, some are more upgraded than others, etc. But I have found that the only value that matters, especially if a loan is involved, is the BPO or the appraisal value. Appraiser's add very little value for upgrades. Their main focus is size, bedrooms, lot size and so on. An extra bathroom will only add about $500 in value and so on. So you can see, that the values change very little from house to house.
So, again I maintain that the homes MUST BE PRICED RIGHT from the get-go. A good agent will know how to get that job done and the house will appraise for the sale price. This week, there were only seven price changes. That is cut in half from previous weeks. Good news for those buyers and sellers alike!
And, as always, if you have real estate questions or need some help with selling or buying your home, turn to a local expert. Give me a call and I will be more than honored to assist you.
CLAREMONT LIVING!
Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
LindaKMayer@live.com
Linda's Website
Linda K. Mayer,
Realtor, Office Manager
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
LindaKMayer@live.com
Linda's Website
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