After soaring high for the first three months of the year, condominium sales in the Santa Clarita Valley fell back to earth during April, the Southland Regional Association of REALTORS® reported on Tuesday, May 23.


A total of 81 condominiums changed owners last month, down 31.4 percent from the 118 closed condo escrows of April 2016, which was the highest monthly total last year.

REALTORS® also helped closed escrow on 192 single-family homes, down 9.4 percent from April 2016 and 5.4 percent lower than this March.

“Condominium sales had to start falling eventually,” said Martin “Marty” Kovacs, chairman of the Santa Clarita Valley Division of the Southland Regional Association of Realtors.

He noted that condo sales for the first three months — totaling 263 closed escrows — were the highest since the first three months of 2007 when 274 condos changed owners. The record high for the first trimester of any year came in 2005 with 410 condo closed escrows.

“Perhaps changes by the FHA last year that relaxed owner occupancy rules in some condominium developments, from 50 percent to as low as 35 percent, contributed to a short-term surge,” he said

The median price of single-family homes that closed escrow during April was $555,000, up 3.1 percent from April 2017 and 3.7 percent higher than March.

Since the Great Recession, the home median price peak of $560,000 arrived in July and repeated again in January. Nonetheless, the April home median price was 13.7 percent below the record high of $643,000 set in April 2006.

Similarly, the highest condominium median price reported since economic recovery started was $372,000 in September, though this April’s median of $365,000 came the closest to that high point. The all-time record high condo price of $397,000 was set in January 2006.

“No doubt rising prices impact sales, but the more dramatic limitation comes from the extremely tight inventory of homes and condos listed for sale,” said Tim Johnson, the Association’s chief executive officer. “There simply are not enough properties available to meet normal demand, which would ease pressure on prices and reduce the number of multiple offers.”

REALTORS® reported a total of 479 active listings at the end of April. That was off 5.5 percent from a year ago, but up from the 414-listing tally of this March.

At the current pace of sales, April’s 479 listings represented a 1.8-month supply, marking the third consecutive month listings were below a 2.0-month inventory. A 6-month supply once was thought to represent a “normal” market, but that large of an inventory has not been seen since 2011.

Of the 273 homes and condos sold last month, 263 or 96.3 percent were standard sales involving traditional buyers and sellers. REALTORS® reported only three foreclosure-related sales, for a 1.1 percent share of the market, and four short payoffs, for a 1.5 percent share.

 


 


 

So you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process and they have asked you what level of access you want to provide to potential buyers.

There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing and Price. There are many levels of access that you could provide to your agent to be able to show your home.

Here are five levels of access that you could give a buyer with a brief description:

  1. Lockbox On the Door – this allows buyers the ability to see the home as soon as they are aware of the listing, or at their convenience.
  2. Providing a Key to the Home – although the buyer’s agent may need to stop by an office to pick up the key, there is little delay in being able to show the home.
  3. Open Access with a Phone Call – the seller allows showing with just a phone call’s notice.
  4. By Appointment Only (example: 48 Hour Notice) – Many out-of-town/state buyers and relocation buyers visit an area they would like to move to and only have the weekend to view homes. They may not be able to plan that far in advance, or may be unable to wait the 48 hours to be shown the house.
  5. Limited Access (example: the home is only available on Mondays or Tuesdays at 2pm or for only a couple of hours a day) - This is the most difficult way to be able to show your house to potential buyers.

In a competitive marketplace, access can make or break your ability to get the price you are looking for, or even sell your house at all.

 


 

Whether or not you’ve ever seen an episode of Modern Family, or know who Phil Dunphy’s character is, the concept of knowing that you have someone in your corner who is looking out for your best interests is something we all want.

When it comes to buying a home, whether you are a rookie homebuyer or have gone through the process many times, having a local real estate expert who is well versed in the neighborhood you are looking to move into, and the trends of the area, should be your goal.

For those who aren’t familiar, the character Phil Dunphy is a Realtor with a huge heart who always strives to do the best for his family and his clients.

In one recent episode, Phil even shared the oath that he created and holds himself to:

"On my honor, I promise to aid in man's quest for shelter, to recognize I'm not just in the business of houses -- I'm in the business of dreams in the shape of houses. To disclose all illegal additions, shoddy construction, murders, and ghosts. And to put my clients' needs before my own."

While this might seem silly, and it was definitely written with humor in mind, the themes of helping someone achieve the American Dream and putting a client's needs above your own are not to be taken lightly.

Bottom Line

When you make the decision to enter the housing market, as either a buyer or a seller, make sure you look for an agent who exemplifies these values and will help you through every step of the process.

 

 

 

 

 


School is back in session, the holidays are right around the corner, you might not think that now is the best time to sell your house. But with inventory below historic numbers and demand still strong, you could be missing out on a great opportunity for your family.


Here are five reasons why you should consider selling your house this fall:


1. Demand Is Strong

The latest Realtors’ Confidence Index from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now!

Take advantage of the buyer activity currently in the market.


2. There Is Less Competition Now

According to NAR’s latest Existing Home Sales Report, the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market at 4.7-months.

This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market this fall.

Also, as builders regain confidence in the market, new construction of single-family homes is projected to continue to increase over the next two years, reaching historic levels by 2017. Last month’s new home sales numbers show that many buyers who have not been able to find their dream home within the existing inventory have turned to new construction to fulfill their needs.

The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.


3. The Process Will Be Quicker

Fannie Mae announced that they anticipate an acceleration in home sales that will surpass 2007's pace. As the market heats up, banks will be inundated with loan inquiries causing closing-time lines to lengthen. Selling now will make the process quicker & simpler.


4. There Will Never Be a Better Time to Move Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 5.3% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

According to Freddie Mac’s latest report, you can also lock-in your 30-year housing expense with an interest rate around 3.46% right now. Interest rates are projected to increase moderately over the next 12 months. Even a small increase in rate will have a big impact on your housing cost.


5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.



Realtors helped closed escrow on 234 single-family and 94 condominium sales during July throughout the Santa Clarita Valley, totals that pulled back from record highs set the prior month, the Southland Regional Association of Realtors reported on Thursday, Aug. 25.

The 234 home sales were 8.2 percent below a year ago and 11.7 percent below the 265 closed escrows reported in June, which was the highest monthly tally since October 2005.

Escrow also closed on 94 condominiums, down 21.0 percent from July 2015 and 26.0 percent lower than the 127 sales of June — the highest condo total since August 2013.

“I believe we’re hitting a point where buyers are resisting rising prices, with price increases coming slower even as the inventory of homes for sale stays too tight,” said M. Dean Vincent, president of the Santa Clarita Division of the Southland Regional Association of Realtors.

“There’s still plenty of demand out there and the local economy is improved,” Vincent said, “but low housing affordability and reduced buying power of homebuyers has put a cap on how fast the median price can increase.”

The median price of the 234 homes that changed owners ast month came in at $560,000, up 9.9 percent compared to July 2015. However, the median price fell 2.6 percent from the June median of $575,000, which was the highest since June 2007. The July median price was 12.9 percent below the record high of $643,000 set in April 2006.

The median price of condominiums sold during July was $331,000, up 0.3 percent over July 2015, and 16.6 percent below the record high condo median price of $397,000 established in January 2006. The high point since then came this May at $349,500.

“Not surprisingly,” said Jim Link, the Association’s chief executive officer, “rising prices combined with limited supply and falling affordability translate into fewer sales.

“We are hearing that prices have gotten to the point where buyers are hesitant go higher than list price,” Link said. “There’s more negotiating going on and more sales coming in under list price and we’re not seeing as many sales at full price, especially since the number of all-cash buyers has receded.”

There were 626 active listings through Santa Clarita. That number was the highest in 10 months, yet off 9.1 percent compared to July 2015. At the current pace of sales it represented a 1.9-month supply, slightly higher than the July 2015 backlog of 1.8 months.

Of the 328 combined residential transactions last month, 96.3 percent were standard sales involving traditional buyers and sellers. There were 10 distressed sales: six foreclosure-related transactions for a 1.8 percent market share, and four short sales for a 1.2 percent market share.

Pending sales, a measure of future sales activity, fell 16.2 percent to 332 open escrows reported at the end of July.


Sales of existing single-family homes in the Santa Clarita Valley during June posted the highest total since October 2005, the Southland Regional Association of Realtors reported Thursday, July 28.

A total of 265 homes changed owners, up 4.7 percent over a year ago and 5.2 percent ahead of this May. Not since October 2005 has there been a higher monthly total, although the 265 sales were still 34.6 percent below the record high of 405 sales posted in June 2005.

Similarly, local Realtors helped close escrow on 127 condominium sales last month.

That was up 15.5 percent over a year ago and 25.7 percent higher than the 101 sales of this May. The June condo sales total was the highest since August 2013, though it came in 37.7 percent below the record high of 204 sales set in April 2003.

“Santa Clarita sales are even stronger than expected for this time of year,” said M. Dean Vincent, president of the Association’s Santa Clarita Valley Division.

“Recent drops in interest rates to near-record low levels are bringing buyers out in greater numbers,” he said. “Considering the high desirability of our community, the only limit on sales has been the ongoing lack of inventory.”

There were a mere 599 active listings at the end of June throughout the region. That was down 12.9 percent from a year ago and represented a 1.5-month supply at the current pace of sales.

“With inventory tight and multiple offers common, it’s up to individual buyers and property appraisers to hold the line on price increases,” said Jim Link, the Association’s chief executive officer. “Prices keep inching higher, yet they remain below the heights of the boom of last decade and increasingly are running into affordability issues.”

Nonetheless, the median price of the 265 homes sold last month soared to new heights.

The $575,000 median home price reported in June was up 10.4 percent over a year ago. It was the highest median price since June 2007, though still 10.6 percent below the record high of $643,000 set in April 2006.

Similarly, the condominium median price of $340,000 was up 7.9 percent from a year ago.

That figure was 14.4 percent below the record high $397,000 set in January 2006. The high point since the recovery began came in May with a $349,500 median price.

Of the combined 392 residential transactions closed last month, 96.2 percent were standard sales involving traditional buyers and sellers. There were a mere 12 distressed sales: seven foreclosures for a 1.8 percent market share; and five short sales accounting for 1.3 percent of total activity.

The Southland Regional Association of Realtors® is a local trade association with more than 9,500 members serving the San Fernando and Santa Clarita Valleys. SRAR is one of the largest local associations in the nation.

Sales of existing single-family homes in the Santa Clarita Valley during June posted the highest total since October 2005, the Southland Regional Association of Realtors reported Thursday, July 28.

A total of 265 homes changed owners, up 4.7 percent over a year ago and 5.2 percent ahead of this May. Not since October 2005 has there been a higher monthly total, although the 265 sales were still 34.6 percent below the record high of 405 sales posted in June 2005.

Similarly, local Realtors helped close escrow on 127 condominium sales last month.

That was up 15.5 percent over a year ago and 25.7 percent higher than the 101 sales of this May. The June condo sales total was the highest since August 2013, though it came in 37.7 percent below the record high of 204 sales set in April 2003.

“Santa Clarita sales are even stronger than expected for this time of year,” said M. Dean Vincent, president of the Association’s Santa Clarita Valley Division.

“Recent drops in interest rates to near-record low levels are bringing buyers out in greater numbers,” he said. “Considering the high desirability of our community, the only limit on sales has been the ongoing lack of inventory.”

There were a mere 599 active listings at the end of June throughout the region. That was down 12.9 percent from a year ago and represented a 1.5-month supply at the current pace of sales.

“With inventory tight and multiple offers common, it’s up to individual buyers and property appraisers to hold the line on price increases,” said Jim Link, the Association’s chief executive officer. “Prices keep inching higher, yet they remain below the heights of the boom of last decade and increasingly are running into affordability issues.”

Nonetheless, the median price of the 265 homes sold last month soared to new heights.

The $575,000 median home price reported in June was up 10.4 percent over a year ago. It was the highest median price since June 2007, though still 10.6 percent below the record high of $643,000 set in April 2006.

Similarly, the condominium median price of $340,000 was up 7.9 percent from a year ago.

That figure was 14.4 percent below the record high $397,000 set in January 2006. The high point since the recovery began came in May with a $349,500 median price.

Of the combined 392 residential transactions closed last month, 96.2 percent were standard sales involving traditional buyers and sellers. There were a mere 12 distressed sales: seven foreclosures for a 1.8 percent market share; and five short sales accounting for 1.3 percent of total activity.

The Southland Regional Association of Realtors® is a local trade association with more than 9,500 members serving the San Fernando and Santa Clarita Valleys. SRAR is one of the largest local associations in the nation.


Decorating for the Fourth of July is really a great and easy way to show your patriotic pride, and with our nation’s colors of red, white, and blue going so well together, it also couldn’t be easier. Whether it’s decoration ideas for a Fourth of July party, or even if you are just looking to give your home a more patriotic look all year round, here are a few great ideas for infusing the traditional, or the contemporary American look, into your home!

Denim Blue

Really, what could be more American than blue jeans? Denim is a great fabric for decorating for the holiday or all year round, as it is an inexpensive and durable fabric. You can create pillow covers using denim with a vintage American flag sewn on, or can also create placemats with a similar theme. You could even make napkins using a softer grade of the fabric.

Set The Table

If you are hosting a Fourth of July party, setting a table for the day can be really simple. Finding red, white, and blue tablecloths, napkins, and tableware is easy at this time of year; just keep in mind that it is not a good idea to use the flag itself as a tablecloth or placemats. Instead you could use a red tablecloth with blue and white placemats. For a centerpiece, a combination of red and white carnations with little American flags placed in the arrangement will finish the table off. White plates would look great on this table, but you may also want to find a set specifically for the day.

Decorate Outdoors!

Independence Day is a great excuse to get outdoors and celebrate with friends and family. You can decorate your yard for the day by not only thinking red, white, and blue, but also Americana. Touches like porch swings and hammocks bring us back to a simpler time. Flowers are a great way to show your pride, and potted arrangements of red, white, and blue flowers will look great on any patio. You can also hang a flag in both your front and back yards, and find various outdoor decor items that have an American theme.

These are just a few of the countless ways you can bring your American pride into your home for the Fourth of July, and keeping the theme going all year can really lend a cozy feel to your home and yard.


Let’s face it—two of the biggest issues most of us face in today’s world are concerns over the environment and the economy. Figuring out how we can save money while still being good to our planet can sometimes seem like an impossible task. But here are a few great tips to reduce the cost of our laundry expenses and be greener at the same time!

Use Cold Water—By using cold water you are not using electricity or gas for your hot water heater to clean your clothes. This saves resources and money toward your electricity or gas bill, and with some great cold water detergents now on the market you can still have well-cleaned clothes.

Wash Bigger Loads—Most people under load their washing machines rather than the opposite. Check out your machine’s load capacity by weight to get a better idea of how much your machine can take. Using larger loads means you will use less water and electricity to wash your clothes, while still getting them clean.

Hang Dry—Whether it’s summer or not, you can always hang dry at least some of your clothes rather than using a dryer. Purchase a drying rack to use in your laundry room or bathtub, or if you have the space outside and the weather is right, hang them outside. This will save money on your electricity bill, and give your clothes a nice fresh smell.

Dry Like Items Together—Keep lighter, synthetic items together, and heavier items such as towels for a separate load. This will allow you to use less time for fabrics that dry more quickly and with less heat.

Replace Your Washer And Dryer—While this will not save you money in the short term, when it is time to replace these appliances be sure to go with an energy efficient model.


These simple tips can keep you “green” while keeping the green in your pocket!


 

Resale prices hovered at the highest levels since 2007 for the 130 single-family homes and 55 condominiums that changed owners during February throughout the Santa Clarita Valley, the Southland Regional Association of Realtors reported on Tuesday, March 21.

The home sales total was down 4.2 percent from a year ago—with a decline not unusual for at this time of year—while the condominium tally posted a 17.0 percent increase over February 2015.

“With the continued limited inventory, it’s likely sales and prices will move higher in the coming months,” said M. Dean Vincent, president of the Santa Clarita Valley Division of the Southland Regional Association of Realtors. “Economists point to real estate charts and statistics which describe a 6-year cyclical pattern for the real estate market, which suggests we should have reached our peak for this phase.

“Yet so long as interest rates stay low, I believe rising sales and prices can be sustained,” Vincent said. “The difference will be that the increases will be slower, more moderate, probably a single-digit increase of 5 percent in the annual median price.”

The median price of the 136 homes that changed owners in February came in at $530,000. That was the second-consecutive month at that figure, which also was reported in May of last year. The $530,000 median home price — the point at which half the homes sold for more and half for less — was the highest since October 2007, yet it was still 17.6 percent below the record high of $643,000 set in April 2006.

The condominium median price of $335,000 rose 11.7 percent over a year ago. Similar to the single-family median price, the condo median was the highest since September 2007 but was 15.6 percent below the record high of $397,000 set in January 2006.

“The pace of increases definitely is slowing,” said Jim Link, SRAR’s chief executive officer. “Not only do we have a shrinking pool of prospective buyers who are able to pay rising prices, but price hikes and sales totals also will be kept in check by stricter lending requirements and today’s tougher appraisals, unlike what happened a decade ago.”

Additional homes listed for sale would ease pressure on prices and give buyers more options, Link noted, yet an increase in the supply is unlikely to happen anytime soon, partly because Baby Boomers today resist moving or trading down, preferring to stay in place instead.

There were 509 active home and condominium listings on the Multiple Listing Service operated by the Association at the end of February. That was down 4.3 percent over a year ago. At the current pace of sales the 509 active listings represented a 2.7-month supply compared to the 2.8-month inventory reported at the end of February 2015.

Of the 191 total home and condominium sales facilitated by Realtors last month, 90.6 percent were standards sales involving traditional buyers and sellers.

Additionally, 3.7 percent of the combined totals were foreclosure related and 4.2 percent were short sales, where lenders agreed to a sale at a price lower than the outstanding loan.

Interestingly, February marked the second consecutive month since the Association started keeping the statistic in 2012 that there were zero condominium foreclosure-related Real Estate Owned transactions. February also was the first month with zero condominium short sales.

“It’s positive seeing some housing categories with zero distressed sales,” Vincent said. “A benefit of rising resale prices is that there are fewer underwater owners, those who owe more than their home’s current resale value, and growing legions of owners have equity in their home, reducing, if not completely eliminating, the likelihood of a distressed sale.”

The Southland Regional Association of Realtors® is a local trade association with more than 9,500 members serving the San Fernando and Santa Clarita Valleys. SRAR is one of the largest local associations in the nation.

 


In today's market, with homes selling quickly and prices rising, some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers.

Here are five of those reasons:

1. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interest of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house
  • The appraiser if there is a question of value

2. Exposure to Prospective Purchasers

Recent studies have shown that 89% of buyers search online for a home. That is in comparison to only 20% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

3. Results Come from the Internet

Where do buyers find the home they actually purchased?

  • 44% on the internet
  • 33% from a Real Estate Agent
  • 9% from a yard sign
  • 1% from newspaper

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

4. FSBOing has Become More and More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.

The 8% share represents the lowest recorded figure since NAR began collecting data in 1981.

5. You Net More Money when Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.

Studies have shown that the typical house sold by the homeowner sells for $210,000 while the typical house sold by an agent sells for $249,000. This doesn’t mean that an agent can get $39,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

Bottom Line

Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.


Santa Clarita Real Estate,homes, cdpe,realtor, realtors,certified distressed property expert, foreclosures,california,valencia,stevenson ranch,westridge,sand canyon,short sale,agent, agents, Valencia Real Estate, Stevenson Ranch Real Estate, REO, Westridge Real Estate, resource, REO, los angeles,Santa Clarita, Castaic Real Estate, Saugus Real Estate, Newhall Real Estate, agent, agents, cdpe, california,certified distressed property expert, Santa Clarita, Santa Clarita, Canyon Country Real Estate, Acton Real Estate, california,Aqua Dulce Real Estate,santa clarita real estate,valencia,stevenson ranch,agent, agents, westridge,sand canyon,short sale center, Santa Clarita Real Estate, cdpe, REO, realtors, certified distressed property expert, los angeles,short sale, Valencia Real Estate, Gay Santa Clarita Real Estate, Santa Clarita,santa clarita short sale help Stevenson Ranch Real Estate, Westridge Real Estate, REO