02.04.2013 Santa Clarita real estate and housing market update

    Real Estate never sleeps – or does it?  You would think it’s sleeping now with the lacking inventory for the Santa Clarita Valley cities.  In fact, the rest of Southern California is experiencing similar increases with regard to buyers getting frustrated and those that bought in 2009 and 2010, being in a positive equity position to sell their homes and move up.

    Interest rates are the keystone when it comes to real estate that is for sale.  The record number to date had been set back in November of 2012 when we had record low numbers of 3.31% interest rate for a 30 year fixed mortgage.

    After that, we have continued to see the interest rates flux-u-ate up and down depending on the week.  That is how interest rates are – they flux-u-ate 🙂

    Short Sale ExpertsSo, when you are reading on-line, somebody’s blog, and they are telling you you’d better buy now or lose forever – they are attempting to influence your buying or selling decision by using “end of the world” tactics.

    Hang in there – if you are currently looking to buy a home, you may be running into issues finding one.  If you qualify – great.  If you are in the ball park with regard to purchase prices and the amount you want to finance – Awesome.  However, to find that home and get your offer accepted on it – that is the trick and takes a Savvy and Well known real estate agent.

    I know what you may be thinking, “Uncle Rico has been helping me out with buying a house.  He is my uncle, is off from his regular job on weekends and has had his real estate license for over 1 year.  He may not have sold a home yet, but how hard can it be?”

    Watch out for Uncle Rico and those that are part time in the business.  We had this scenario come up lately.  In fact it was the part time agent that referred us recently to their niece and nephew. The part time newer agent cried “Uncle”.  She had enough and was unable to get an offer accepted for her kin.  FYI – his name was not Uncle Rico – that was changed to protect the innocent 🙂

    While this is not always the case – it does make a difference.  While we do not operate in this way when it comes to the “agents” writing the offers – some agents do.  It’s the same with listing your home with an agent that is not from the local real estate community.

    The other agents, at least some of them, will have a big problem showing that home, (the one listed by a non-local real estate agent), and writing an offer on it with their clients.  Sad but true.  While it cannot be proven, while you cannot quantify it – it exists.  Just another “un-prove-able” section of this world we call real estate.

    Get good advice, make sure your real estate agent is in the “local venue”.  In addition, to get the best positioning you are also going to want to consider which lender you are going to be working with.  Are they known in local real estate circles?  Are they in another part of the country with ZERO standing at a local level?  Is your lender a trusted source with regard to the local real estate community?

    Writing about Real Estate in the Santa Clarita is our passion.  Let us know if we can help you with your Santa Clarita real estate needs.

     

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