Tag Archives: buy a home in santa clarita

Just What Is a Real Estate “Comp” Anyway?

Whether you’re selling a home, or buying one, the Comparative Market Analysis is your best friend.

Okay, so you’ve decided to sell your home. Congratulations! Now comes the big question: What price are you going to ask for? This of course leads to a What is a comparable market analysisfollow up question: How do you arrive at that price?

Or…you’ve made the decision to buy a home. Great! So how do you arrive at your asking price when putting together your purchase offer?

In discussing the value of real property, we have to look at it differently from how we might look at selling something personal, like a car. Real estate value fluctuates under conditions much like the stock market, only with a few differences. read more

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

Condos Make a Comeback In May

After a few months of lower prices, condos took a surprising leap last month.

Statistics recently released by the Southland Regional Association of Realtors showed a bounce upward again in condo prices; rising $25,000 in Make your New Year real estate resolutionsmedian equity from April to $315,000.

Prices for Santa Clarita Valley condominiums have dropped in recent months, hovering in the low $300,000’s until April, where they tumbled to $290,000.

Home prices typically fluctuate in a normal market, so these numbers are not surprising. Interest rates, while ticking a few tenths of a percentage to just (barely) over 4% are not holding qualified buyers back from taking advantage of market conditions and getting into the home of their dreams. 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

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

Are You Leaving Money On The Table When Buying Your Home?

What can you do to save some cash on your home purchase?

As a home buyer, you know that your purchase will come with some out-of-pocket costs. Even if you’re taking advantage of a zero down loan, there are

Buying a home: Cash at closing

still associated costs before you can get into your home.

So what can you do to insure you’re not paying more than you have to in order to close escrow? Here are a few suggestions.

First and foremost, do your best to have the best credit score possible.

The better your credit, the better your chances of qualifying for a loan with a lower interest rate, which will save you a lot of money on your monthly mortgage payment, as well as the overall cost of your loan.

Shop for the best loan. 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

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

PRICE REDUCED! Home For Sale In Canyon Country: 19891 Drasin Drive

Completely remodeled 4 bedroom, 2 bath single family home is totally move-in ready!

Welcome to 19891 Drasin Drive in Canyon Country.

This gorgeous, 4 bedroom, 2 bath home has been totally transformed, and is just waiting for you to move in. Complete with a light and bright floorplan, you’ll find new carpets, tile flooring, dual pane windows and fresh paint inside and out…and that’s just for starters.

The kitchen has been totally remodeled with granite countertops, beautiful cabinetry, recessed lighting and stainless steel appliances.

The large master suite features mirrored closets, sliding door access to the backyard, and a completely remodeled private bath with his and hers sinks. read more