Santa Clarita real estate and housing market update – the HELOC is coming back

    Santa Clarita real estate housing market updatesWolf in sheep’s clothing

    HELOC – Home Equity Line of Credit. The wolves in sheep’s clothing. At least it was back in the day before the fall of the last real estate market.

    Actually, to be able to take money out on one’s home to pay bills, complete upgrades, additions, or remodeling, should be every homeowner’s right.

    Equity Rules

    If the equity exists, why not use it to your advantage.

    The interest rate is typically lower than you’d pay for a credit card.

    However, when taken out without forethought, some homeowners got into trouble.

    Back in the day, before the crash of the last real estate market, some bought homes at the height of the market.

    Buying stuff – as George Carlin spoke about

    Some home buyers bought before that and took money out to pay for stuff. A lot of that “stuff” had nothing to do with their homes, increasing their value or making them better to live within.

    Today the Home Equity line of credit is making a comeback, and can you guess what states where a majority of this is taking place? ¬†Florida and Arizona. The same states where there was a “king’s share” of the foreclosure activity.

    All I can tell our real estate clients is that the HELOC rules are not the same as in the preceding years. Taking out 100% of the equity is going to be an impossibility today.

    30% LTV – loan to value – may be your maximum

    As a home owner, wanting to take out funds from the equity you have, you may be limited to 30% and no more.

    It’s going to depend on your current mortgage, credit score and financial prowess.

    Before you make this move, make sure you think it through. If you are going to use the money for home improvements, focus on the kitchen and bathrooms first. They add more value to the home than any other home improvement in the Santa Clarita Valley Cities.

    Here are the PDF reports for the Santa Clarita CA housing market.

    You will see the cities we are most prominent within, separating Single Family homes from Condos/Townhome configurations.

    Our Top REMAX of Valencia CA Team is ready…

    Be safe and make sure you contact our REMAX of Valencia CA Paris911 Team for more information concerning what your Santa Clarita Area home is worth and if you want us to set you up on a Santa Clarita real estate monitoring system to keep tabs on  your specific home and direct neighborhood.

    It is indeed our HONOR to be of assistance. Reports updated for the First week of September 2014 by REMAX of Valencia’s Paris911 Team of Realtors.

    Acton CA Single Family Home Report

    Castaic Condo and Townhome report

    Canyon Country Condo and Townhome report

    Valencia CA Condo and Townhome report

    Santa Clarita Condo and Townhome report

    Stevenson Ranch Condo and Townhome report

    Newhall Condo and Townhome report

    Canyon Country Single Family Home report

    Stevenson Ranch Single Family Home Report

    Valencia CA Single Family Home report

    Castaic CA Single Family Home Report

    Newhall CA Single Family Home Report

    Saugus CA Single Family Home Report

    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.
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