This is what a Canyon Country home for sale with about 28 offers on it looks like:
This went into escrow after just 6 days of being ON the market this past week, of which about all 6 were spent receiving all 28 or so offers (actual number of offers may vary by a few – but that’s the word on the ground). The home is a bank owned foreclosure, with decent upgrades, 4 bedrooms, and even an office downstairs. It went on the market at the price of $314,900, and is certainly worth near $380,000 in today’s market. By all accounts, it appears that this went into escrow for CLOSE to the $380,000 range! Lord knows my buyer didn’t get it after writing close to that amount.
While the bank might have certainly been willing to sell it for $314,900, they aren’t experts in the local real estate market. There is a very equal chance that they either did, or did not realize, that there would be multiple offers, and that their actual net sales price would be so much higher.
One thing is for sure as evidenced by this particular listing. Throwing out a home in the Santa Clarita market, $30k $40k, $50k, $60k+ below market, is like throwing chum into a “shiver” of sharks. People are noticing, and taking action.
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