The homes to be auctioned off at Deer Creek have up to 4,072 square feet and 3 to 5 bedrooms, up to 3 1/2 baths and 3 or 4-car garages. According to the builder, "custom-style accents" include room expanding volume ceilings, welcoming family room fireplaces, built-in media walls, interior laundry rooms and stainless steel kitchens with sleek granite center island counters.

Sounds real spiffy huh? Not if you really look at what this all means, since you’ll find all of these features in just about any new home development in Santa Clarita. Granite kitchen counters, kitchen islands, a fireplace and indoor laundry rooms (as opposed to garage laundry) are pretty standard fare these days.

These homes were originally priced to sell in the $1 million price range, but only one sold at that price. The selling point of these homes is the Placerita Canyon location, the larger home size (3255 square feet to 4072 square feet) and larger lot sizes than you’ll see in most other areas of the Santa Clarita Valley.

Although the lot sizes start at about 1 acre, the lot sizes aren’t on the scale of the prestigious Sand Canyon area homes. And some of these lots are very irregular in shape and not all flat usable land. Also, with the use of septic tanks it’s unclear whether there will be enough room for pools in all of these yards.

Homes will be sold as-is, so buyers will need to inspect the homes on their own (and at their own cost) prior to the auction. Auction prices will start at $595,000, although homes are expected to sell in the $800,000 range after the bid-ups are complete.

If you’ve never been to a real estate auction, you’ll find that it’s quite a carnival! It’s best to be fully informed before bidding, and to bring a qualified real estate professional (Realtor) with you who has experienced these auctions before. The auctioneers will be trained professionals with a clear goal of increasing the bid price as high as possible, and they’ll be experts at attaining this goal. Think eBay on steroids, and you’ll get a fraction of an idea of what these auctions are like.  

The seller requires all potential buyers to pre-qualify with Countrywide either prior to or on the auction day. As a "special incentive", Countrywide is offering up to a whopping $5,000 credit towards closing costs to buyers who use them as their lender. While clearly not a big enough incentive to lure most buyers away from their trusted lenders, it is possible that the Countrywide financing will have some special terms that may be at least worth investigating. Closing must take place in 30 days, and the seller may grant a 15-day extension if needed for an additional $3000 fee.

Buyers will need to register with their Realtors by September 13 at 5pm by completing the Auction Registration Form, which can be hand-delivered, faxed or mailed to the registration office. Realtors must also attend the auction with their buyers and stay with their buyers throughout the entire process.

Will there be bargains to be had at this auction of the homes at Deer Creek at Placerita Canyon? It’s hard to say how big the bargains will be, but likely these homes will sell for substantially less than the original list price.

Was the original list price a fair price in today’s market? Likely not, since they didn’t sell at that price! However, if you’re looking for semi-custom new construction with larger lot sizes and mountain views, then it may be worth checking these out with the possibility of getting prices discounted enough to be worth the investment.

Here’s a summary of the homes to be auctioned off. Remember that the standard disclaimer applies, in that this information is per the seller and has not been verified as to its accuracy.

Interested? Email me for more information, including a copy of the auction brochure!

Disclaimer: Linda Slocum is a licensed real estate agent specializing in the Santa Clarita area and is not a representative of Mitchell Development.