MLS Data Continues Mixed; May Not Be Valid

As reported in an earlier post, the local market data source has changed from Crisnet to SoCalMLS, and that changeover in mid-February has thrown into question the data that I am able to get.

For example, the February data indicates that local closed sales for the Santa Clarita and San Fernando Valley areas had closed prices at and above the current list price. Sorry, but that is not happening in reality. If it were so, sellers would not be worried and buyers would be scrambling to buy anything right now, before prices 'go up'.

You can appreciate the situation, I'm sure. So rather than publish a bunch of data that does not reflect reality, I'm going to hold off until the data provider gets some steadier legs. The new service does not provide as complete or as digestable set of data points as Crisnet did. I may have to make some adjustment in how my data is gathered and presented so that real and meaningful data can be provided to you, my valued clients.

As always, a neighborhood analysis of the current market is best, as that will most accurately provide the information you as a seller need to establish a list price that will be attractive to potential buyers. Conversely, if you are a buyer of property, you also want the real numbers for a neighborhood to ensure that you are not paying too much for a property.

Yes, yes, I know. As a seller, you want the best price (and frankly, so do I) but let's be realistic and maybe a simple analogy will illustrate: when you go out car shopping, are you anxious to pay a Ferrari price for a Saturn? No. probably not. And the buyer for your home doesn't want to pay more than market price for your home, either.

And buyers... while I do want you to get the absolute best home for your hard-earned money, the seller has market information and isn't going to give you a home for nothing just because you want it.

Reality is, both parties will settle for fair pricing in the vast majority of home sales. Coming to that point is as Trump so rightly pointed out, 'The Art of the Deal'.