More inventory in Santa Clarita coupled with steady prices give buyers a better 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.
Interest rates still incredibly low.
Still holding in the low 4% range, it’s a great opportunity to harness incredible buying power to get more “bang for your buck” when it comes to price and mortgage payments. There are several loan programs that can even take into account lower than “golden” credit scores to get you into the home of your dreams. Contact us for information on loan programs.
More homes on the market.
This time last year, the Santa Clarita Valley was sitting on barely a month’s supply of available homes for sale. Buyers had a tough time getting their bids through, and the ones who did usually paid higher than listing price, making up the difference in the loan amount with their own money.
Fortunately, the Santa Clarita Valley is steering toward a more “balanced” market, creating opportunities for buyers and sellers. The SCV has about a 3 month supply of available homes for sale, which allows buyers some choice in their selection, as well as (in some cases) terms and conditions.
Prices holding steady.
We’ve seen home prices in the Santa Clarita Valley stabilize over the past couple of months. That being said, prices for single family homes have risen nearly $50,000 since the beginning of this year, so for buyers shouldn’t be concerned about the ability to gain equity in their investment over time. In any case, now is the time to “strike while the iron’s hot”, as market conditions can change with very little notice.
How much home can you afford? Contact the Lichen-Hooper Team to find out what it takes to get the home of your dreams!