Claremont Real Estate Market Watch, December 3-9, 2011
| Market Watch |
| New Listing (5) | |
| Price Change (6) | |
| Back On Market (1) | |
| Backup Offer (1) | |
| Expired (5) | |
| Pending (4) | |
| Sold (4) |
Okay, so here we go with the last week's CLAREMONT REAL ESTATE MARKET WATCH. It has the statistics and explainations from the last seven days activity in real estate.
Confidence in Claremont is a little behind some of the nearby cities. This week there were 5 new listings that are new to the City of Claremont and only 4 sold.
There are 4 pending homes - homes that have gone into escrow and only 1 that has gone into backup status, meaning they are working with an offer but taking backup offers in case the first one doesn't work out for some reason. This is a must in today's volatile real estate marketplace. A good agent will take backup offers so that the seller doesn't waste a lot of time on one offer only to have the buyer pull out at the last minute or not have the loan work out. If they didn't they would have to start all over from scratch and wait for another offer.
I have to write yet another paragraph on pricing. 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. 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.
If you are interested in buying or selling or simply have questions about real estate, please feel free to contact me. I will be more than happy to assist you!
**All information is taken from the IMRMLS.
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