Episode 2015-283 – See our Radio Broadcast page at HousingRadio.com!
Welcome to our Sold Broadcast where we speak about the real estate happenings in the SCV Cities and expand to other areas within Southern California where we frequently assist our real estate clients with their ever expanding real estate needs.
I’m Connor MacIvor, your host of the longest running real estate radio show for the SCV Cities – Santa Clarita Valley in Southern California is where my Top RE/MAX Team is headquartered.
We moved here back in 1996 from Burbank CA. Burbank was great – but we found that the Santa Clarita Valley served our needs, and the needs of our children, better.
Back then I worked for the City of Los Angeles as a cop. I worked three of the four bureaus that the LAPD has and had been to the 18 geographical divisions (police stations) that existed back in the day. There have been a few more built since that time and I never had the chance to see those in person before pulling the pin completely in 2013.
Real Estate – We entered into this business back in 1998 when I became licensed. I tried to do it part time – that was a joke. Paris joined me a few months later, and she took our real estate business to an entirely new level as a full time agent.
I ran in the background, silent and deep 🙂 – it was awesome working with my “wife” and that was no fairy-tail either – I’m serious. To this day I love having our business in common with our family as well. It’s incredible and I feel as if someone needs to pinch me… It’s a Blessing.
The three things to know about the real estate market came to me via one of our clients.
They had asked the question about selling and buying a home, so I thought I’d break it down in a very concise and powerful equation.
Three Steps to understanding the real estate market
What homes are selling and at what rate – Currently we are looking at the Santa Clarita Valley – The majority of the residences that are for sale and on the market are Detached Single Family Homes at this time. 1580 is the total number of homes that have sold in the Santa Clarita Valley cities during the past 180 days – Here is the break down!
- We have 1091 detached single family homes that have sold
- 261 were condominiums
- 171 were townhouses
- 22 were attached Single Family Homes
- 21 were manufactured homes
What is the prevalent financing type – When looking at residential real estate and understanding the local markets you need to know financing. What types of financing is being used and how many cash buyers are out in our midst. Looking at VA and FHA gives a good grasp on the local markets as well, the price for admission with these loan programs when buying real estate is very low – 3.5% down with the FHA loan and ZERO% down with the VA Loan Program.
- 158 were cash sales
- 11 were bought using a CAL VET Loan
- 871 used conventional financing
- 350 used FHA financing
- 98 used the “regular” Veterans (VA) loan
- 2 used USDA financing (It’s not just for meat anymore 🙂 )
- 3 used “private financing”
- In two cases the owner carried the financing
What are the sales types for the past 180 days – Price increases and reductions from original pricing strategy – this is an indicator of market health and gives indications that will trigger buying and selling decisions in the present market. It could also be indicative a Seller Bubble with regard to pricing real estate is there are more price reductions than increases. The Sales types indicates “ownership” are the homes bank owned, primarily or are they equity sales?
- 1449 of the homes that sold were Standard “equity type sales”
- 11 properties were ” in foreclosure “
- 33 had NOD’s filed – Notice of Defaults
- 41 were Real Estate Owned “bank owned” foreclosures
- 1 was a HUD owned real estate listing
- 73 were classified as Short Sales
- 10 were probate listings
- 14 were auctions
Be safe and thanks for taking the time to listen and read our dissertation on the local housing market.
We are in a good place today with regard to homes selling in the Santa Clarita Valley. My name is Connor MacIvor and I’m with REMAX. 661-400-1720 – call me when ready!!!
If you want to search for all of the available Santa Clarita inventory – we have that!