North Tustin Weekly Housing Market Update

Posted by David Feldberg on Monday, January 4th, 2016 at 9:43am.

Happy New Year!
Here we are at the start of 2016 and its time to get moving!  This update will cover all housing activity in North Tustin for the week of December 27, 2015 - January 2, 2016.
Typically one of the slowest weeks for the year there are no big surprises here.  There was only one person that listed their home last week and it was a single family home 3 bedroom 2 bath with 1858 square feet listed for $729K.  Like most homes in North Tustin it is on a nice 11,000 square foot lot.   If you are interested in checking out all the homes for sale in North Tustin we sync our data with MLS every 15 minutes so it is always up to date.

Also last week 5 other homes came back on the market.  Three are located in East Tustin, while the others are located in the Red Hill area of North Tustin.  Its worth noting that three of these homes came back on the market with price reductions so if you are looking for a motivated seller, that is usually a good place to look.
As for homes going into escrow, 2 homes went from available to only accepting back up offers.  One is a foreclosure (priced at $719,000) while the other is a standard sale (priced at $1,060,000).  Also last week two homes were moved into a pending sale status in MLS.  Both were located in East Tustin and were priced from the mid $600's to the low $700's.
Finally last week 4 homes closed escrow.  ALL four homes had done price reductions from their original list price in order to receive an offer.  At the end of the day all 4 of these homes sold for 90% or less of their original list price.  It's worth mentioning you don't know the full story and maybe these were all distressed homeowners (they needed to sell quickly) but just because a realtor says they can sell your home for a price doesn't mean they will.  Always check their last sale or last few to see how they are pricing their listings.  As an example our last listing in North Tustin (18452 Saugus) was listed for $799,000 and after multiple offers closed escrow for $865,000.  We always try to deal in worst case scenario so our client can know exactly what to expect.
For more information on listing your home with David Feldberg and Coastal Real Estate Group contact David today.

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