With stylish new construction, lower HOA fee’s and fantastic amenities such as attached garages and a really nice pool area… the Mariposa Townhomes in Saugus draw large numbers of Santa Clarita house hunters and investors alike. Apparently home owners in the Mariposa townhome community, located off of Plum Canyon Rd, caught wind of the buying frenzy and appreciating home values. But asking prices have started to get a bit out of hand.
Some seller’s are remaining reasonable, but others, perhaps out of the need to sell for a profit instead of being upside down, have started to ask for a sales price way out of line with comparable sales.
For instance:
I’m seeing a 2 bedroom condo at Mariposa, with no backyard, all upstairs living quarters, and a one car garage, with an asking price of close to $350k. For that price you can have a 3 bedroom in Valencia basically.
Where a 2 bedroom condo with a backyard sold for $295,000 only a few months ago by way of a standard sale, I’m now seeing people ask over $330,000 for the same plan.
I saw a 3 bedroom at Mariposa ask over $400,000 recently. It didn’t sell. Just a seller testing the waters.
It is a seller’s market. And prices have certain appreciated quite a bit. But the Mariposa townhomes are an example of a community where there are so many units, that you’ll see quite a few over-priced listings. Some sellers asking out of greed, some sellers asking for the higher price out of necessity in order to have a chance at a “standard sale” vs. a short sale.
Where there are stale townhomes at Mariposa though, just sitting on the market, unsold because they’re over-priced, there could be a buying opportunity! As a buyer, you should consider making lower offers on over-priced listings. But first, you need to look into whether or not the seller has room to move down. Do they have a large mortgage? Is that why it’s listed so high? Your Santa Clarita real estate agent can help you sort through the right answers to the appropriate questions.
At the end of the day, some sellers will sell above market value. That’s how prices move upward. But they should stay in-line with other areas. Asking price doesn’t mean sales price. Asking price is simply a clue into the story behind the seller’s motivation to sell.
Are you planning on buying a home at Mariposa Townhomes in Saugus? ASK Robert! You can reach me today @ 661-373-2374 or simply make contact with me here.
UPDATED LIST OF MARIPOSA TOWNHOMES at PLUM CANYON FOR SALE
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