Category Archives: Real Estate Market Conditions

Single Family Home Prices Are Rising In Santa Clarita

May saw a $30K jump in the median price of single family home prices in the SCV.

Good news for Santa Clarita homeowners came from the Southland Regional Association of Realtors who recently reported that home prices Bridgeport Nightcontinued to rise in May, with the median price of a single family home jumping to an average of $530,000. That’s a $30,000 jump from April, and a $45,000 jump from May of 2014.

We’ve seen single family home prices steadily rise throughout this year, with gains rebounding from recession-era lows since the end of 2012.

Is this what’s known as a “seller’s market?”

Sellers have been able to take advantage of the upswing in equity over the past few years. This does not necessarily mean that “anything goes” when it comes to pricing their home, however. read more

What Does It Mean When Home Prices Level Off?

Median property prices leveled off between March and April, but is that really cause for concern?

We’ve seen a lot of great things as far as the Santa Clarita real estate market goes. In the past 3 years, we’ve seen a rebound in sales figures and prices, Santa Clarita Home Pricesincluding a huge reduction in short sales and foreclosure sales.

So when the Southland Regional Association of Realtors releases statistics showing that single family home prices in the SCV dropped $20,000 between March and April, some homeowners give it cause for concern. But is it?

Home prices regularly fluctuate.

If you look back over the sales figures history as provided by the Southland Regional Association of Realtors, you’ll find that home prices regularly fluctuate, even in a hot market. What you’ll want to consider is the overall long term growth in value, especially if you’re planning to stay in your home for a long period of time. read more

Will Interest Rates Rise In 2015?

Federal Reserve chair recently hinted that rates may rise sometime this year. What might that mean to the Santa Clarita real estate market?

With exception of a minor hiccup in hiring last month due to unseasonably cold weather in other parts of the country, our national economic federalreservecondition has seen much improvement since the dark days of the so-called “Great Recession” that reared its ugly head in 2008.

“But what does this have to do with mortgage interest rates?”, you may ask. 

Interestingly enough, it all ties in together. Banks and mortgage lenders borrow money from the Federal Reserve who sets a “wholesale” base borrowing rate for lending institutions. From there, consumers are charged a “retail” rate that is usually a few points above (Based on credit rating, etc.). read more

Is 2015 YOUR Year to Buy a Home?

Real Estate rebound shows that buying a home is one of the best investments you can make.

We regularly extol the virtues of home ownership. Yes, it IS better than renting, and yes, it IS one of the best investments you can make in your 2015 Real Estate Updatelifetime. Why is it the best investment, and when?

That’s a good question, as there are many ways to, and many reasons for, investing in real estate. In this article, we’ll focus on purchasing a home that you will occupy as your residence for an extended period of time.

You WILL make money on your investment.

Yes, we’ve seen some relatively short term losses in real estate a few years back. The recession definitely put a dip in the marketplace for a couple of years. However, prices and equity have rebounded to pre-recession levels. What’s more important is the understanding that, in the long term, real estate increases in value annually on average at somewhere between 3 and 5 percent. The Santa Clarita market has seen prices rise annually in the past couple of years in the range of double-digit percentage figures, which compensates for the drops in prices between 2008-2011.  read more

The Return Of The 3 Percent Down Mortgage Loan

Fannie Mae and Freddie Mac announce plans to re-introduce low down loans.

The real estate news just keeps getting better! From lower interest rates to loosened loan restrictions, there are great things happening for home buyers and sellers as we head toward the New loan programs for home buyersnew year.

The “Great Recession” had done a lot to change things in real estate, especially when it came to qualifying for a home loan. Standards had tightened in an attempt to correct mistakes made by practices such as “sub prime” and “stated income”, which had helped fuel issues that led to the near collapse of the industry a half decade ago. read more

Santa Clarita Condo Prices Jump In October

Equity has risen nearly $40K since January.

A report recently released by the Southland Regional Association of Realtors showed the median price of condominiums in the Santa Clarita Valley rose by $9,000 in October over the Buy a condo in Santa Claritaprevious month.

The median price reached $89,000 last month, showing a total of $39,000 in equity gains since the beginning of this year, when prices averaged $250,000.

What has triggered this rise in condo prices?

First of all, the real estate market overall has had a pretty good year. We’ve seen stability in the marketplace for both condos and single family homes across the Santa Clarita Valley. Buyers have also enjoyed the benefit of low interest rates that have recently dropped back below 4 percent. The lending market, having instituted guidelines for Qualified Mortgages (QM) has boosted confidence in the real estate community by insuring that buyers who qualify for a home loan can TRULY afford the home they are purchasing. This has given a boost to mortgage investors as well. This is extremely important in the continuing recovery and growth of the real estate market. read more

Boomerang Buyers Re-Enter The Housing Market

Recent changes in mortgage rules make it easier for formerly distressed homeowners to re-purchase in a shorter amount of time.

So many great things are happening for buyers, sellers and homeowners lately. The Santa Clarita real estate market has seen some significant gains this year, with the median price of Boomerang buyers on the reboundsingle family homes rising nearly $60,000 since January.

We’ve also seen interest rates fall to the lowest they’ve been in a year and a half, hovering below 4 percent as of today’s date. This gives qualified home buyers a boost to their already strong purchasing power, either adding to their approved home purchase limit, or reducing their potential monthly mortgage payment. read more

Santa Clarita Real Estate Shows Continued Growth In Equity

Home prices are still on the rise in the Santa Clarita Valley.What is your home's value?

It’s hard to believe that only a few years ago, home prices were dropping across the country, even in the Santa Clarita Valley. By the end of 2011, the median price of a single family home in the SCV had dropped to $340,000; down from a pricing zenith in April of 2006 when they temporarily topped out at $643,000. Now, that high price was predicated on shaky ground made up of sub-prime loans and market overspeculation, but even still, it stung a lot of homeowners to know they lost over $300,000 in equity during the “Great Recession.” read more

Real Estate Market Creating More Opportunities For Buyers

More inventory in Santa Clarita coupled with steady prices give buyers a Santa Clarita Home Buyersbetter shot at their dream home.

We can’t stress enough the positive aspects of home ownership. From adding to personal wealth, to tax benefits, to the satisfaction of knowing that the home you live in is yours, and not someone else’s, owning your own property is definitely a worthwhile venture.

While Santa Clarita home buyers had it a bit rough in 2013 due to a severe shortage of available houses for sale, we’re seeing a slight shift in the real estate market this year that is creating wonderful opportunities for buyers to find, and own, their dream home. read more

Santa Clarita Home Prices In Holding Pattern

Sales are strong and brisk, but buyers are seeing opportunities not available to them a year ago.

The median price of a single family home fell slightly in June, down $3000 from May’s price of $485,000. Condominium prices rose to an average price of $290,000 Santa Clarita Real Estate Updateduring the same month.

While we’re seeing a slight cool-off in the rise of single family home prices in the Santa Clarita Valley, it’s not an unexpected trend. Prices do tend to rise and fall slightly over the course of a few months. The same thing happened this time last year when single family home prices hovered between $430,000 and $450,000 before settling at $440,000 by year’s end. read more