Category Archives: Home Buying Info

Getting What You Want In a Hot Market

Homes are still quickly changing hands in the SCV, but does that mean buyers can’t get what they want?

We’ve seen a true rebound in the real estate market here in Santa Clarita. Median single family home prices have topped the $500,000 mark, and How to get what you want when buying a homesome homes are still receiving multiple offers, making sellers very happy. However, does this mean you can’t get what you want when it comes to purchasing a home in this climate? Here are three things to consider when making your offer.

1. Be on solid financial ground, loan-wise.

In a normal market, a loan pre-qualification letter is usually good enough to get your foot in the door with the seller in order to have them take your purchase offer seriously. However, if you can obtain a loan PRE-APPROVAL, that lends more credence to your offer in the seller’s eyes, and lets them know that you would be at much less risk of not closing the deal. Adding a sizable good faith deposit will look good in their eyes as well. read more

Interest Rates Drop Back Below 4%….Again!

Home buyers should take this opportunity to leverage this incredible purchasing power.

It seems to have defied all expectations by major financial analysts who predicted that rates could jump as high as the mid 5% range by 2014. Amazing to see how those predictions Mortgage rates continue to dropturned out, as interest rates fell below 4% this week for the second time in a month.

So how did the analysts get it so wrong? If you remember, in early 2013 rates were down nearly to 3 and a half percent before taking a jump back as high as the mid 4’s by summer. This was a result on a selloff of mortgage-backed securities based on information from the Federal Reserve that they would consider reducing the monthly stimulus that had guaranteed mortgage stocks since November of 2008. The monthly stimulus added up to $85 billion. This practice is known as Quantitative Easing (QE). read more

Keller Williams New Mobil App – Download it now..A Must Have

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Now is Time to Buy Real Estate

California Real Estate Prices are the lowest in possibly 15 years due to current market conditions.

Whether you are buying for long term rental Investment Property for cash flow $$$ or bargain deals for a quick flip, this is a great time to invest in Real Estate.

Prices will go up once the economy starts moving again. Don’t miss a chance to buy at great prices and when sellers are willing to offer deep discounts!

Click on this link for ACCESS to the latest Foreclosure List for the Santa Clarita Valley read more

Mortgage Rates Reach All New Historic Lows!

Home loan mortgage rates have hit a milestone as they drop to a new record low. On average, a 30 year fixed mortgage rate is currently offered at around 3.53%, with 15-year rates dropping below 3%. These rates are based on approved credit by your lender.

This means that there has never been a better time to buy a home. With rates like this, you May qualify either for a lower mortgage payment, or a higher loan amount, which allows you a greater selection of homes and price ranges to choose from. read more

Steps in the Home Buying Process: The Home Inspection

RPA-CA…What is THAT?

That stands for the California Residential Purchase Agreement and Joint Escrow Instructions that realtors use when helping home buyers write an offer to purchase a home.

So why am I bringing this up?

The RPA-CA is a comprehensive purchase agreement that protects both buyer and seller in the purchase and sale of a home. This agreement contains many contingency clauses that give the buyer and seller the opportunity to insure the home purchase is performed correctly and legally. read more

Rise in New Home Sales Show Promise For Market Recovery

When the economy took a negative turn a few years ago, one of the industries hardest hit in the real estate community were new home sales. Recovery had been slow for this industry, but this year, it appears new home sales have turned a corner in the positive.

According to the Commerce Department, new home sales in April rose 3.3%, and the median selling price of a new home is up 4.9% over the previous year.  Sales are still slow compared with the boom years when they reached a rate of close to 1.4 million, but the month’s results were slightly better than expected. read more

First-Time Home Buyer Grants

2012/2013 First-Homebuyer Grant Program for San Fernando & Santa Clarita Valleys

The Southland Regional Association of REALTORS® is currently offering grants to qualified homebuyers who purchase their first home within the San Fernando or Santa Clarita Valley and have a low to moderate income-level. The amount of each grant will be $2,000 and will only be paid to qualified applicants after the close of escrow while funding lasts. Repayment of grant is not required.

NOTE: THERE ARE A LIMITED NUMBER OF GRANTS. GRANTS WILL ONLY BE AWARDED TO THOSE APPLICANTS WHO QUALIFY AND WILL BE DISTRIBUTED ON A FIRST-COME, FIRST-SERVE BASIS. THIS GRANT PROGRAM WILL LAST ONE YEAR BEGINNING MAY 7, 2012 OR UNTIL ALL GRANTS HAVE BEEN AWARDED, WHICHEVER COMES FIRST. BUYERS MUST BE ADVISED THAT SIMPLY SUBMITTING AN APPLICATION DOES NOT GUARANTEE AN AWARDED GRANT. read more

So Why Aren’t Condos Selling?

Well, I shouldn’t say they aren’t SELLING, they are; but they are lagging far behind single family residences in sales volume.

While single family home inventories are significantly low, condos are also still dropping in price. A great sign for buyers, but for sellers? Hmmm…

Median condo prices bottomed out in January at $184,500 and then improved in February to $194,000 but slipped again in March to $190,000 – down 19.1 percent from the year-ago price of $235,000. Condo prices haven’t improved year-to-year since April 2011. read more

What Is An Escrow and Why Do I Need One?

There is some confusion, especially among first-time home buyers, regarding exactly why there is this thing called an escrow. What is it? What does it do? Why is it necessary? Why can’t I just get my home purchase offer accepted and then move in the next day?

Buying a home is practically unlike buying anything else in your lifetime. There are a lot of issues surrounding a home purchase that involve insuring that both the buyer and the seller are in complete agreement as to the negotiation they finally settled upon. In that agreement, there are local, state, and federal laws that govern the purchase of real property. read more