Santa Clarita real estate market
Monitoring the Santa Clarita real estate market is a daily venture for myself and my real estate team. I want to make sure that they are all on the same page when the balloon goes up, we will be ready 🙂 – If you were or are in law enforcement/military, you get that.
Our daily Santa Clarita real estate digestion encompasses covering the local additions to the Santa Clarita real estate listings, those listings which have been canceled because of one reason or another and those real estate listings which have expired – not selling within contractual guidelines.
I also look to those listings that entered escrow, those homes in the Santa Clarita Valley which had they’re priced reduced and those real estate listings which were sold for more and or less than their listing price.
In all consistently comparing the real estate market of today with the market of the past. Also, building a case for where the future of Santa Clarita real estate will be next month, etc.
Foreclosures, bank owned and real estate owned listings entering the Santa Clarita real estate market are also being monitored every moment of every day by myself and my Santa Clarita real estate market team.
I also make it a point to investigate the lending programs being used by those who are buying Santa Clarita real estate. This includes any new loan programs, the discount and grant programs, those programs giving rebates and other lending programs that include the garden variety loans.
Pocket listings and FSBO, for sale by owner listings, are monitored by myself at a high degree. I always want to ensure that my real estate clients are vastly informed so they can make the best decisions within the Santa Clarita real estate market.
I will tell you that within our Housing Radio broadcast, I keep our real estate clients informed because it pays to know the current market – making the decision accordingly.
I have learned by experience that all real estate markets are not the best to buy real estate. The same sentiment as all real estate markets are not the best to sell real estate. Within our real estate radio show I ensure our real estate clients are kept in the know about our local real estate market.
There are tons of signals within all real estate markets that cause ripples within our local housing market. They are also monitored by myself on a moment by moment basis via my Feedly app.
Tons of experience and knowledge about real estate having represented real estate clients since 1998 – I’m here for you. I’m Connor MacIvor with REMAX.
Asking the right real estate questions
When home sellers and home buyers approach real estate in the Santa Clarita real estate market, they want to know what to expect.
How is the future real estate market going to unfold? What pertinent questions should I be asking? Where are the best sources that I can find to get all of the facts so my decisions can be best?
I will start with the last first because, in Santa Clarita real estate, there are tons of online sources of real estate information. Some are horrible and have been build for a number of reasons, most of which are misleading.
Some of the real estate blogs in Santa Clarita Valley are built around you giving up your personal and private information. They want to sell your information to those willing to pay for it. BTW, the information business is booming.
They will use teasers – like the following.
- Get the new foreclosure listings before the local agents
- Find out the three questions that will save you thousands on your mortgage
- Discover how you can have your agent give you part of their commission
- You can have your home sold for more than market value with this winning method
These headlines are all over social media and are known as real estate click bait. It’s hard not to click, especially if you are are interested in real estate and making some sort of move.
Each of these questions or statements indicate there is gold at the end of the rainbow. All you need to do is click, enter your personal information and you will be enlightened.
As I teach my clients, all you have to do is find the source of the website touting this “too good to be true” information.
If the website is not locally known or a real brick and mortar location within the local real estate venue you are interested in, don’t do it. Move along and find that real local source within the real estate news sources.
When I explain this “how to” to my real estate clients I start with a simple local Google Search. I will then walk them through the junk and get to the actual local real estate sources of information and knowledge that will keep them safe and informed.
Articles about the local housing market, a real estate blog where said agent is writing about the current Santa Clarita real estate market is extremely helpful. We are in the number one position for Santa Clarita real estate blog on Google at the time of this Santa Clarita real estate market update. I’m honored and very humbled.
Answers to the right real estate questions
After you start asking the right questions, you can be assured that substandard real estate agents will show their heightened level of discomfort.
They don’t want to answer questions that may interfere with them making a real estate commission. They will also not give you straight answers. They are sometimes self-serving and you will see this rear it’s ugly head. If you do, move along to interview someone else.
Most home buyers start simple, what does it cost to buy a home? How much money do I need?
Breaking down the Santa Clarita real estate market into different components is important.
Depending on how much you qualify for will then depend on what sort of down payment you are going to need to buy real estate.
If you have a great credit score, you may need less money down than someone whose credit score is just at the point of being able to barely qualify to buy real estate.
If you are a veteran that served this country proudly within the armed forces, you will be able to buy a home with nothing down. There is no down payment required for military veterans, in most cases. This too is dependent on where the veteran is buying and how expensive the home is.
For those home buyers in the present market who are not military veterans, they can buy with as little as 3% down payment on a conventional mortgage with a conventional loan. This means they will need a down payment of $15,000.00 when buying a $500,000 dollar home.
There are other ‘costs’ that all home buyers will need to pay for that are outside of the home loan process. The home inspection fee is to be paid directly to the home inspector at the time their investigation has concluded. The home buyer will also pay the termite inspector at the conclusion of their investigation at the property the buyer is buying. The appraiser is also going to cost the home buyer and this fee is typically taken from the home buyer by the home buyer’s lender.
Then a home buyer is going to have closing costs that will have to be paid by someone. Most home buyers in an aggressive market, otherwise known as a real estate seller’s market are going to cover their own closing costs. The closing costs for a home buyer are going to pertain to a home buyers part of the escrow fee, somewhere close to 1%. They will include the home buyer’s part of the Title Insurance Fee, also somewhere in the neighborhood of 1%. Then the home buyer is going to have to pay their lender’s fee – Again, about 1%, depending on the lender and any special deals about to be agreed upon.
In a home seller’s market, the home buyer usually pays their own closing costs due to the high level of competition in the market. There could be multiple offers that a home buyer is in competition with when buying Santa Clarita real estate in a home seller’s market.
If the Santa Clarita real estate market is in a buyers way, the home buyers can usually get the home sellers to cover their closing costs. Again, this is going to depend on the competition and if the seller does not have to, they won’t.
The fee’s and costs to buying real estate are directly in proportion to the type of Santa Clarita real estate market we are in.
I always balance the national real estate and housing market trends against out local market in order to give the best advice to all real estate buyers and home sellers.
Santa Clarita home seller’s market information
Before any self-respecting home seller will have us market their home, they do their homework. They at least want to have an idea of how the market is and what they can expect. This is going to be inquiries as to local housing market trends. What sellers are getting and what they are able to procure in the ways of offers for the current real estate listings for sale.
Other questions that sellers in Santa Clarita and elsewhere want to know is that they can expect from buyers when it comes to their requests for repairs and credits after the home inspections are conducted.
What is normal in the present state of the housing market in the Santa Clarita Valley cities. Some of the other questions related to time frames. How long does it take to sell a Santa Clarita home in the present Santa Clarita real estate market?
How much can I expect to have an offer for my home and is the strategy in the present market to offer less than asking price? Are real estate offers from home buyers in the present market countered by most home sellers in Valencia CA? These are examples and they are good questions that will give relief to the local home sellers.
Of course, trends are good to look at, but every Santa Clarita home sale is very different than those that have come before it. Some sales of particular real estate listings break all of the current trends and rules.
In a home buyers market, we have had overpriced listings go out higher than comparable values. Where the home buyers needed to inject money above what the home lender was willing to pay.
Those cases are rare, exceptional and really require a good guide as far as a specific expertise as a Realtor. The overall market has to be gaged and investor knowledge is key as a real estate agent.
We did have a very similar scenario play out with some of our home buyers on a property in Burbank. I greenlighted the home buyers to pay in excess of 60k more than the appraised value.
I knew that a large shopping center that was positioned to increase the value of the buyers’ home was going to be breaking ground in the next 6 months. This move was great for them and we sold their home three years later for 325k more than they paid. It was a super win for these home buyers.
Insider information like this being contained within your real estate agent can be a huge win for the buyers and home sellers that work with them.
Santa Clarita real estate market – financing
The Santa Clarita real estate market would not be sufficiently covered without speaking about the types of financing that is being used in the current housing market.
If we see a mass advent of Veterans Administration Loans in the Santa Clarita Valley Cities, the homeowners can adjust their properties to be a little more expensive to allow for the paying of a Veterans Closing Costs without having their interest rate increased.
The same tendencies apply to if a majority of the financing in the SCV cities was FHA Financing, which is 3.5% down.
Currently, I have been monitoring the Santa Clarita real estate market and we have over 65% of the current financing as being Conventional in makeup. This means that people are putting anywhere between 3 and 20+ percent down on the Santa Clarita homes they are buying. This shows a robust market of sorts and that people are attempting, at least the 20% down types, aren’t fans of paying PMI, or property mortgage insurance.
The local Santa Clarita real estate market continues to be spoken about within my many social media portals. During our Santa Clarita real estate radio show and podcast. Within our YouTube channel and on our top performing Santa Clarita real estate blog. I’m all about the good and true dissemination of real estate information, advice, market trends, and other associated information.
I want my Santa Clarita home buyers and Santa Clarita home sellers to have the best and most factual information in order to serve their best interests in real estate.
Be safe – talk soon and please tell a friend. We are getting our client’s real estate transactions WON, not just done.
Santa Clarita real estate market data factors
- Time Frames we choose when preparing the Santa Clarita real estate market reports:
- year to date (current year)
- Past 6 months
- Past 12 months
- Past 2 years
- Past 3 years
- Past 4 years
- Previous Year
- 2012-present (adjusts to a 6-year history)
- The Coverage is the Entire Greater Los Angeles areas, Santa Clarita Valley and most of the metropolitan communities within Southern California
- Most accessed statistics
- Active Listings, $ Volume
- Active Listings, Number of
- Days to Lease, Average
- Days to Lease, Median
- Days to Sell, Average
- Days to Sell, Median
- Expired Listings, Count
- Lease Price, Average
- Lease Price, Median
- Leases, $ Volume
- Leases, Number of
- List Price, Average
- List Price, Median
- Sale Price, Average
- Sale Price, Median
- Sales, $ Volume
- Sales, Number of
- Santa Clarita real estate market groupings
- Buyer Agent
- Buyer Brokerage
- Buyer Team
- Co Buyer Agent
- Co Buyer Brokerage
- Co Buyer Team
- Co Listing Agent
- Co Listing Brokerage
- Co Listing Team
- Leased Price
- List Price
- Listing Agent
- Listing Brokerage
- Listing Team
- Map Area
- Primary Year
- Property Sub Type
- Property Type
- Sold Price
These are the data points that I am able to use when I’m generating the Santa Clarita real estate market news. To be able to use this functionality with our housing and real estate clients to build graphical and data intel really helps them to make the best Santa Clarita real estate decisions. I’ll be here for you and all your Santa Clarita real estate needs.