Welcome to the 103rd day of 2017. We are going to give you the numbers as they relate to the Santa Clarita real estate community.
During the past several weeks The Santa Clarita Valley real estate world has been plagued by lacking home inventory.
This real estate market condition does benefit the home sellers in the SCV cities. However, it is a very sensitive issue for those who are in the market for buying.
Results of restrictive housing inventory
We have observed that this constrictive inventory does cause several trends to be so:
Buyers are more likely to make full and over priced offers
Buyers are more likely to use gift funds in order to strengthen their down payment
Home buyers in this market are more likely to agree with seller’s shrinking of inspection timeframes
A home buyer will be less offended when a seller does not agree to the buyer’s repair request
Buyers will be in competition with other buyers for the same home/condo/townhome
These five items are only the tip of the iceberg related to the current market conditions in the Santa Clarita Valley Cities.
Market conditions resulting in a Shift
The home sellers are not complaining though and this trend will continue until the real estate market experiences a shift or change. Possible changes that could occur which would start the shift from a home seller’s market to being a home buyer’s market will be:
- Increase in interest rates. Example – a home buyer who is qualified at $500,000.00 will experience a $50,000 loss in qualification amount for a .5% (1/2 of a point) increase in interest rates.
- Increase in real estate inventory – Currently we have very lacking inventory (see below) – in fact, we are at an all time low for housing inventory, lower than in the past 4 years! If our current inventory were to, let’s say, double – we would see a shift from it being a seller’s real estate market in the Santa Clarita Valley to a Buyer’s real estate market.
- War – this always changes the current real estate market trends.
- Economic Factors – Unemployment and Inflation also will do damage to a healthy real estate market.
We will keep you all posted throughout all real estate markets in the Santa Clarita Valley Cities. We will also do our best to give you the intel from the sources and make sure we explain the newest “scams” on the real estate fronts.
Check out HousingRadio.com show – where I speak about the real estate markets on our Santa Clarita real estate broadcast.
Look at our Santa Clarita real estate blog located online for easy rememberance SCVblog.com – you will be able to see the latest real estate articles we have written during the present week and past blog articles. You are also able to search for topics related to real estate and find over 10000 resource articles which I have written over the years that I have been representing both buyers and sellers with Southern California real estate.
I’m Connor and I’m glad to be at your service. If you have friends/family/associates or anyone who is in need of a super qualified realtor in the SCV cities or elsewhere in Southern California – drop them my site and let them know to reach out to me and I will be of great service to them and theirs.
Current real estate recap Santa Clarita Cities:
137 Foreclosures and Bank Owned homes for sale Southern California
Total Active homes for sale in Santa Clarita Valley – 431
Homes for sale in all Southern California – 12,638 (btw – if you are seeing more than this amount, you are looking at a scam real estate website – be careful!)
Santa Clarita Luxury homes and real estate – current numbers – 104
All of this intel can be found on the homepage of SCVnest.com just below the map and search bar. Enjoy our Secure real estate website for Santa Clarita Valley. I’m Connor and I’m here for you!