F.A.Q.
Please do not hesitate to call us or send us an email with any questions you may have. Some facts and figures often of interest to prospective Covenant Hills home buyers and seller are discussed in the FAQ’s below, or elsewhere on the covenanthills.info website.
Q: I’m confused about various claims and measures of “Days on Market”. How is is measured?
A: Typically, in the Multiple Listing Service (MLS), there are various calculations of “days on market” (DOM). When a property is submitted to the MLS, a start date is recorded for its listing. The typical DOM figure is then calculated from this start date. However, once a property enters escrow, and is reported as such by the Realtor, the count ceases at that point. To confuse matters further, a property listing can be canceled by a Realtor, and re-listed by the same or a different Realtor. The DOM figure commonly quoted for the new listing is based upon the new start date, and therefore can be quite misleading to the prospective home buyer! A home that has been on the market previously with Broker A for 365 days, then relisted by Broker B (or even Broker A again!), reflects only one (1) day on the market. There is a second measure available, which we use in reporting DOM figures, called cumulative days on market, or CDOM. This figure includes all successive listing periods, and reflects the total period of time a property is listed in the MLS.
Q: Which measure of D.O.M. do you use?
A: Whenever we report data on active listings and recent sales, we attempt to use the most accurate cumulative CDOM figure available, even if it means we have to dig deeper than the reported numbers.
Q: How much experience have you had selling homes in Covenant Hills?
A: More than almost anyone else! As you may know, Covenant Hills is the newest community in Ladera Ranch. Almost all sales to date in Covenant Hills have been new construction; some of our friends, past and current customers have bought new homes. But now that the production homes are nearly “built out”, there will be a rising number of resales among these tracts. We have also had the good fortune to work for a developer that was among the early purchasers of custom homesites in Covenant Hills. We have been working on these projects since their inception in early 2005, and have as a result had the good fortune to watched Covenant Hills grow and mature.
Q: What are disclaimers regarding square footage, financing details, and MLS data?
A: Square footage representations are not guaranteed by this website or its authors, affiliated real estate broker(s), or the respective sellers. Financing details and special offers are not guaranteed, and are subject to conditions including but not limited to availability of financing and buyer qualifications. “Active Listings”, as listed in the Market Update, include MLS data status codes A, B, F, and P, in other words, properties in escrow. Available builder inventory and builder sales are not included in the Market Update statistics. Any inaccuracy in Market Update information may be the result of incorrect MLS data, as some listings do not correctly report property status, tract name, or tract code. Corrections are welcome!