La Verne Real Estate Market Watch - October 28-November 3, 2011
| Market Watch |
Okay, so it's been a bit since I wrote one of these - an almost three-week vacation will do that to you! So, to get back in the swing of things, here's the La Verne Real Estate Information for the last week.
There are only 3 new listings that are in the the City of La Verne. This coupled with the fact that 8 homes were sold would tell one that the housing market in La Verne is starting to pick up! Obviously more homes are making it through the sale process and more families are getting to realize the "American Dream".
There are 4 pending homes - homes that have gone into escrow and 3 that have moved into back up status, meaning that they are working with one offer but are taking back up offers in case the first one doesn't work out. This is a must in today's volatile real estate marketplace. In fact I had one in escrow because the first buyer back out of the deal! A good agent will take these offers so the seller doesn't waste a lot of time on one and then have to start over to get that property sold.
I have to write yet another paragraph on pricing. I know it's tough in today's market, but 18 price changes is quite a lot. To be fair, banks are doing some of the price changes, raising and lowering prices according to the BPO's they receive or the investor input. This only affects the REO's and short sale properties though. However, I am still seeing agents making mistakes on the pricing from the very beginning. It matters from the start because it has been shown in a study I saw that a house will sell within the first ten days. So you can see, if you lose those first ten days with a 'trial' price, you lose out on a good chunk of what will undoubtedly be the highest and best offer you will receive on your home.
Warmest Regards,
Linda K. Mayer,
Realtor, Office Manager
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
(909) 670-2711 Direct
LindaKMayer@live.com
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