Chasing The Market ~ Never Good For A Seller

Anyone regularly reading my blog posts knows I'm OCD about checking the MLS activity several times a day. I've got to know what's going on to keep my Sellers & Buyers informed.

I focus on the Santa Clarita Valley since 90% of my business is within these rolling hills.

I have my program set to tell me new listings, price changes, back on markets, under contract, pending, sold, withdrawn, cancelled, expired, and on hold properties....all set to indicate 'within the last 24 hours'.

This morning, after a horrible nights sleep, I did my usual thing....and noted that there were 23 price changes on listings in sweet Santa Clarita in the last 24 hours.

For the last few years, we've been seeing price changes go up. Today only 2 went up.....21 were price reductions.

I met with an appraiser at one of my listings yesterday and we talked about this very same thing. He, myself, the buyers agent...all chatting about where the market was and our crystal ball predictions of where it was going. The topic we all agreed on was about Sellers listing too high and then having to do price reductions.

Obvious signs of that very thing happening. 

I can only educate and present, Sellers have the choice of what they list it at. Some I think are a tad high, some right on, some just an unusual property that needs the right buyer.

But, worst thing....is chasing that damn market down. That's so hard for people to reduce prices, and then, of course, the vultures sit in waiting. Waiting to pounce. Always waiting to pounce on a tired of being on market Seller.