Buying a Home
Home buyers are not waiting to see what happens with interest rates.
In what almost defies odds, despite the Federal Reserve’s decision to raise their base interest rate in December, home buyers are finding that their purchasing power is at its peak with nearly historic low interest rates.
According to a recent study, home mortgage applications jumped by nearly 9 percent in January of 2016. Borrowers are clearly seeing the advantages of acting now, rather than sitting on the fence.
And why not? Home prices on average rose 10 and a half percent in 2015. This average includes both single family homes and condominiums sold in the Santa Clarita Valley. The median price of a single family home rose 8.1 percent, while condos rose on average 12.9 percent.
I think I’m ready to buy a house. What do I do first?
The best thing to do, of course, is to contact Montemayor & Associates, and we’ll get the ball rolling to find the right lender who can let you know what your qualifying home mortgage rate and amount may be. Yes, you should do this FIRST before you begin looking at homes. Continue reading
Mortgage rates will hold steady for the time being.
Slow economic growth over the summer has motivated the Federal Reserve to remain cautious, holding off on
proposed rate hikes for now.
National Gross Domestic Product (GDP) grew slower than expected over the summer. As such, the Fed has made plans to raise the rate of money borrowed by lending institutions in an effort to stave off runaway inflation, based on higher economic projections that have yet to be met.
Good News For Home Buyers
Interest rates have held at under 4 percent for the bulk of past year. As of the date of this article, mortgage interest rates are as follows:
- 30 year fixed-rate mortgage: 3.87%
- 15 year fixed-rate mortgage: 3.15%
- FHA 30 year fixed: 3.60%
- Jumbo 30 year fixed: 3.67%
- 5/1 fixed adjustable rate mortgage: 2.93%
Scarcity of rents along with high demand puts landlords in the driver’s seat. Is it time to take control of your destiny?
A recent survey from rent.com showed that property managers will hike rent prices on average by 8 percent by the end of the year. The same survey shows available rentals at a 20 year low, and nowhere is this fact made more prevalent by what’s available for rent in the Santa Clarita Valley.
As of the date of this article, the Southland Regional Association of Realtors Multiple Listing Service shows a total of 39 active rentals listed by real estate agents in the Santa Clarita Valley. These rentals make up available properties offered by owners that include single family homes and condominiums. It does not include privately managed or advertised properties outside the MLS.
According to the MLS reports, there are no single family homes available within the city of Santa Clarita that are under $2000. What does this mean? The answer is obvious. The number of available SCV rentals for sale is low, and prices are continually going up. Continue reading
2 bedroom, 2 bath single family home is perfect opportunity for first time homebuyer or investor.
Welcome to 25811 Sugar Pine Way in Saugus in the Santa Clarita Valley.
This is an incredible turn key home with an abundance of upgrades.
Plantation Shutters, wood flooring, and dual pane windows are only a few of the amenities available.
The kitchen has been upgraded with granite countertops and stainless steel appliances.
The large master bedroom comes with its own private bath and sliding door access to the back yard.
Another bedroom and bath are perfect for your growing family, or can be used as flex or office space.
This home is also ready for RV access, and is located in a desirable neighborhood close to great schools, shopping, parks and restaurants. For more information and to schedule a private showing, please contact us by calling wither of the numbers at the top of this page, or by using the Quick Response form below.Email Contact Form
Offered at $425,000
Large, 2 story pool home is ready for you and your family!
3 Bedrooms, 3 Baths. 1,635 Square Feet
Come and see this adorable 2 story home in the Circle J Ranch community of Saugus, in the Santa Clarita Valley.
With over 1600 square feet of living space, you’ll find its the perfect home for your growing family. Upgrades such as custom tile and wood flooring are wonderful touches in this turn key property.
Master bedroom comes with its own walk-in closet and private bath, and two more bedrooms are perfect for your growing family, or can be used as home office/flex space.
You’ll enjoy entertaining and relaxing in the back yard complete with large pool, spa, and plenty of room for kids to play safely.Close to award winning schools, parks, shopping, and commuter access, this is truly a great place to call home!
Offered at $560,000
Rumors that The Federal Reserve may raise interest rates have not affected the market…yet.
The market is in pretty good shape at the moment, with the recent jobs numbers from the Bureau of Labor Statistics bolstering confidence along many financial lines. Of course, this confidence may eventually lead an increase in inflation; something the Federal Reserve would like to avoid.
So how do we curb inflation as the nation’s economy improves? Many signs point to raising the base rate at which banks borrow money. In essence, this move trips a proverbial “breaker switch” with businesses and financial institutions, causing them to rethink their decisions on raising prices on goods and services. That being said, even a slight push upward in Federal rates will have an impact on the real estate market, even if it’s only temporary. Federal Reserve Chair Janet Yellen has hinted that rates may rise as early as September. Continue reading
There are plenty of benefits to paying cash for a home, but don’t overlook the opportunities that come with leverage.
One advantage, of course, is the fact that over time, your investment will grow in value. It can be safely said that real estate is one of the safest long term investments one can make.
That being said, you have a few choices as to how you’ll make that investment work for you. You can either pay cash for your home (Provided you have that kind of cash on hand), or you can finance. So which one is better?
Pros Of Paying Cash For Your Home
- The first, and most obvious, is that you won’t have a monthly mortgage payment
- You own your home outright, and are given title, as soon as escrow closes
- Escrow may close more quickly, as you have options to waive certain contingencies that are usually required when you obtain a mortgage loan
As we head dead on into summer, SCV home prices are holding their own.
Can you believe it? We’re halfway through 2015. With that, we’ve seen the Santa Clarita real estate market continue to push forward in a positive fashion. Interest rates are still holding just over 4 percent, and the buyers are out there ready to realize their dream of owning a home.
Recent statistics from the Southland Regional Association of Realtors showed the median price of single family homes and condominiums remained basically the same from May to June of this year. Condo prices did not budge, while single family home averages dropped by a few thousand dollars to a median price of $521,000. This type of fluctuation is not unusual, and is typical of the overall Santa Clarita marketplace during the summer months. Continue reading
Yes, Spring is still in the air, but timing is everything when it comes to buyers and sellers realizing their real estate goals.
There’s been a lot of good news in the Santa Clarita real estate market lately. Not only have single family homes topped the $500,000 mark for the first time in 8 years, but interest rates are still holding below 4 percent…establishing what we might call a “win-win” scenario for both buyers and sellers.
While we’re still smack dab in the middle of Spring, many buyers and sellers “on the fence” should take this time to consider the fact that Summer is one of the best times to buy or sell. Why?
First of all, for the most part, kids are out of school. Parents find it much easier to move in between school sessions. Also, it is the time right after tax season that many renters are reminded of the potential tax savings as homeowners. Conversely, those who have received tax refunds have cause to think about investing it in something that will give them a long term return. Continue reading
As the escrow process begins, the buyer and seller are responsible for certain costs, but is there any flexibility?
It costs money to buy and sell a home. No, we’re not just talking about the cost of the home itself, but also the costs incurred with insuring the transaction is conducted correctly and in accordance with state and federal real estate laws. While buyers and sellers may view these facts with a bit of disdain, it’s important to understand that a real property purchase comes with liabilities unlike any other type of purchase many of us may encounter during our lifetime.
Before you balk even further, think about this: Without the professional escrow and other affiliated services objectively looking out for buyer and seller interests during the home purchase transaction, what would you know about: Continue reading