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Joshua Suess - Valencia Real Estate

September Santa Clarita Real Estate Market Update

Number of Closed Sales in SCV ( August 1, 2007 - September 1, 2007): 304

Number of Closed Sales in SCV (past 30 Days, Aug. 1st - Sept. 1st): 343

Bottom Line: The number of sales is increasing when compared to last year or even the last 8 months of 2008.




Average List Price ( August 1, 2007 - September 1, 2007): $564,560 - $311.85 per sq.ft.

Average List Price (past 30 Days, Aug. 1st - Sept. 1st): $429,849 - $233.65 per sq.ft.

Bottom Line: The average list price has fallen $134,711 or 24%




Average Sales Price ( August 1, 2007 - September 1, 2007): $552,428 - $306.10 per sq.ft.

Average Sales Price (past 30 Days, Aug. 1st, 2008- Sept. 1st,2008): $421,233 - $228.69 per sq.ft.

Bottom Line: The average sales price has fallen $131,195 or 24%





* Since the stats I reported last month, Average Days on Market for Sold homes has dropped from 78 to 68 Days on Market which means homes continue to sell faster as our available housing inventory continues to decrease..


* Since my last stats, Average Sales Price has fallen from $458,081 to $421,233 which is $36,848 (another 9% drop in values).

SCV Market Update....


Average Sale Price at this time, 2007: $551,100


Current average sale price: $458,081

Bottom line: The average sales price is down approximately 17 percent from last year.

Average Days on Market of Sold Homes at this time, 2007: 108

Current average days on market: 78

Bottom line: Homes that have sold this year have been on the market 30 days less, or are selling 28 percent faster, this year.

Total Closed Sales at this time, 2007: 1,966

Year to date, 2008: 1,543

Bottom line: There have been 423 fewer sales this year, or 22 percent fewer sales.

Home Improvement Equals Sales

Homeowners are hungry for an advantage - something that can give their home an edge over the competition. According to Joshua “Dr.” Suess of Remax of Valencia, such advantages fall into one of two categories: price and condition. But for a great deal of homeowners, prices are already low enough… that leaves option two.

“Compare it to buying a car,” says Suess. “If you’re looking at two cars and they both cost $20,000 and one has all the bell and whistles, which one would you buy?”

Translation? Before you put your home on the market, make a few simple upgrades. Paint the walls. Plant some petunias. Clear some counter space.

In real estate circles, such changes are called staging. In the same way you might consider detailing your car before you slap a for-sale sign on it, staging your home can generate the additional eye appeal that can lead to results.

“You’re not living in your home. YOU’RE SELLING IT.”

Suess says potential home sellers can attempt to stage their own homes or use a professional. Either way, he says, the investment is well worth it. The key is not to get too cute. Home shoppers are looking for potential, not perfection as you define it. Those merlot-colored walls? Cover them with something neutral. The family photos? Save them for your next house.

“You need to cut clutter,” Suess says. “If a buyer is looking at 10 homes and doesn’t remember your floor plan because he remembers the family photos, that’s bad.”

And eliminate any indigenous scents; just because you love the smell of fried garlic in your home, don’t expect potential buyers to agree. “Staging is all about presenting your home in the best light,” Suess says. “You’re not living in your home. You’re selling it.”