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By Darryl Izakowitz on August 13th, 2010
While the DOM (Days on the Market) continues falling since March, we have seen an increase in price reductions starting last month in July for Newhall. This activity increased during the summer as the new school year got closer and homeowners felt the pressure to sell.
If we can be of any assistance to you in buying or selling your home throughout Newhall or the Santa Clarita Valley, please contact us.
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By Darryl Izakowitz on January 26th, 2010This doesn’t make economic sense…or real estate sense. If the Days on the Market are increasing, then why are home prices rising too?
Check out this compelling graph of Newhall, CA below.
Usually, the longer homes sit on the market (indicated by the number of days on the market) their median home prices fall. But currently the converse is happening.
Why?
Well, let’s look into the number of current residential listings on the MLS for Newhall, California. Right now we have a total of 89 residential properties listed for sale on the MLS, and only 18 are pre-foreclosures. That’s not a high number of stale Short Sales causing any increase in the Days on the Market or the price.
Rather the prices have risen a bit because the number of available homes for sale continues to be at all-time lows. And there are a lot of buyers in this market.
…First-time homebuyers.
…FHA buyers.
…All-cash investors.
And they are all trying to bid on the same amount of real estate.
New listings (especially REOs) are coming on the market at higher prices than last year. This is a sign that the banks and lenders are taking advantage of the low inventory, not necessarily that the real estate market has turned for the better.
The Days on the Market is increasing because many of these “new listings” have been on the MLS for hundreds of days already. The banks had placed a majority of these homes on “hold” status through the end of last year and these listings are being reactivated as “active”. Also, many homes continue to fall out of escrow and return to the market due to various issues, mostly failed appraisals.
What are your thoughts on this topic?
Please feel free to comment below. If we can be of any assistance to you in buying or selling your home, please contact us.
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By Darryl Izakowitz on January 14th, 2010
The Best Deal in Santa Clarita…Right Now!
Offered at $999,000 – only $202 per sq.ft.
Bank owned, not a Short Sale. As far as we’re concerned, Short Sales are not deals despite their low list prices (wish prices).
List of features:
Click here for photos, maps, and more information.
If you are searching for a great deal in the Santa Clarita Valley, we can find it. Please contact us today.
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By Darryl Izakowitz on January 8th, 2010
Awesome Santa Clarita home! Totally remodeled. Huge flat lot.
Just listed at $649,000 – $207 per sq.ft.
Standard Sale, not an REO or Short Sale. As far as we’re concerned, Short Sales are not deals despite their low list prices (wish prices).
List of features:
Click here for photos, maps, and more information.
If you are searching for a great deal in the Santa Clarita Valley, we can find it. Please contact us today.
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By Darryl Izakowitz on November 26th, 2009
Newly built custom estate priced under $223 per sq. ft. – $925,000.
Standard sale. This is not a Short Sale!!! As far as we’re concerned, Short Sales are not deals despite their low list prices (wish prices).
List of features:
Click on the link below for more information, photos, and maps:
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By Darryl Izakowitz on October 28th, 2009
Newhall, CA four-plex with huge cash flows – $429,000.
Property can qualify for a 3.5% down payment FHA loan (up to 4 units). Total investment is approximately $20k. Get your initial investment back in 10 months!
Please contact me if you or anyone you know is interested.
What makes this a killer investment?
Click on this link for more information, photos, and maps:
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By Darryl Izakowitz on October 22nd, 2009
This beautiful Newhall home just reduced its price $40,000. Now only…$459,900.
List of features:
Click on this link for more information, photos, and maps:
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By Darryl Izakowitz on October 8th, 2009
This 4 bedroom Newhall home just reduced its price $100,000. Now only…$495,000.
List of features:
Click on this link for more information, photos, and maps:
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By Darryl Izakowitz on October 7th, 2009Great video on the city-wide projects currently underway within the City of Santa Clarita by Council Member Laurie Ender.
2009-state-of-the-city-council-member-marsha-mclean
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By Darryl Izakowitz on September 4th, 2009The City of Santa Clarita held a ribbon-cutting event the other evening for the completion of the first phase of Old Town Newhall Streetscape Project. Once complete, Main Street in Newhall will be transformed back into its past where Newhall was the hub of the Santa Clarita Valley at the turn of the 20th Century.
The addition of trees, benches, trash containers, and street lights provide shoppers and local residents with a reason to visit this retail stretch of Main Street just South of Lyons Avenue. Adding to the Western theme that Newhall is famous for are brick-lined sidewalks, hitching posts, and boulders placed within planters.
As the remaining phases of Old Town Newhall Streetscape Project are completed, the area will benefit with the increased pedestrian traffic, better retail shops and restaurants, and the revived sense of community that can only be found in Old Town Newhall.
