Victorville Sellers Lock In Deals Before Scheduled Auctions Close

Four properties in Victorville cleared before their July auction dates last week, with vendors accepting offers between 3 and 7 percent below recent comparable sales.

The pattern shows up as mortgage rates hover near 6.8 percent and inventory sits at 312 active listings across the city, according to Victor Valley Association of Realtors data released Tuesday. Vendors cite a need for certainty after watching three other listings on the same blocks fail to meet reserve at auction in June.

One home on Seventh Street near Victorville City Hall closed two days before its scheduled hammer date. Another on Bear Valley Road, two blocks from Mojave Riverwalk Park, accepted a cash offer from a local investor group. Both sales bypassed the public auction process that had been advertised through the San Bernardino County Sheriff’s auction calendar.

Vendors weigh speed against price

Sellers on Seventh Street told their listing agent they wanted funds available before school starts in August to cover a planned move to a larger home near Victor Valley College. The Bear Valley Road owner needed to settle an estate matter by the end of the month. In both cases, the pre-auction buyers covered inspection costs and removed contingencies within 48 hours.

Local records show the Seventh Street three-bedroom sold for $412,000 on July 2. The Bear Valley Road four-bedroom fetched $489,500 on July 3. Those figures sit 4.1 percent and 6.2 percent below the median sale price for similar homes in the same zip code during the second quarter.

Next steps for buyers and sellers

Agents at the Victorville Multiple Listing Service report another eight properties currently scheduled for August auctions. Buyers who want to approach owners directly should check the county auction list posted each Friday and contact listing agents before the 10-day notice period ends. Sellers facing auction dates can request a pre-auction offer review by submitting a written request to their agent at least five business days ahead.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.