Median home prices take a 6 percent jump over February.
To put this in better perspective, that’s a $30,000 increase in equity over February.
Homeowners in Santa Clarita have enjoyed steady growth in property value for the past 2 years when prices rebounded in 2013 along with a 14 percent overall rise throughout that year. 2014 saw a 12 percent increase in prices, and this year looks to continue in the same vein.
So what’s making this happen?
Home mortgage rates are still below 4 percent, compelling buyers to move fast and leverage incredible purchasing power to get into the home of their dreams.
Available “For Sale” Inventory
With just over 700 available homes for sale in the Santa Clarita Valley, competition has been stiff among buyers for properties. In some cases, home sellers are receiving multiple offers, allowing them more than a modicum of control in final selling prices and terms.
Easier Access To “Low Down” Loans
Recent changes in Fannie Mae, Freddie Mac, and FHA policies have made it easier for qualified buyers to obtain home mortgage loans with as little as 3 percent down. This has paved the way for those who could otherwise afford a home, but may not have the available cash to make a 20 percent down payment as required by traditional fixed-rate mortgages.
Is it time to sell your home?
As a homeowner in Santa Clarita, have you considered a move up, a downsize, or relocation but have held off because you’re not sure how much you can get for your property? With values on the rise, this is a great opportunity to get updated information on your home’s value that can help you determine if a move is in your near future.
By requesting a Comparable Market Analysis, you can get a detailed report that will provide you with the current fair market value of your property. This report will include information on recent sales of comparable homes in your area, as well as demographics, economic conditions, and more. This report is available to you for FREE, at no obligation to you. Just click here to get started.
We are your Santa Clarita real estate choice!
Whether you’re buying or selling a home, the Lichen-Hooper Real Estate Team is here to help you achieve all of your real estate goals. Contact us for a no obligation consultation.