Real Estate Investment

Forecasts for a slow 2016 real estate season have been greatly exaggerated.

Late last year, some financial analysts worried that a rise in the base interest rates by the Federal Reserve would Santa Clarita Real Estate Market Updatetrigger a reversal of fortunes in the real estate industry. Rates would rise, loans would be harder to get, houses would begin to languish on the market, and home prices would drop.

However, that turned out to not happen…at all!

Interest rates, while bumping back and forth between a few fractions of a percentage point, are still holding below 4 percent, despite the quarter percent rise in the base rate the Federal Reserve implemented in December.  Continue reading

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 Santa Clarita Real Estatepurchasing 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

It’s a great time for both home buyers and sellers in the Santa Clarita Valley.

2015 is barely a month and a half old, and yet the real estate community is abuzz with a lot of positive signs as we speed through February.Santa Clarita Real Estate Market Update

First of all, with available housing inventory on the lower side of nominal (somewhere in the mid 500’s), most sellers are confident that they can sell their home relatively quickly at market rates, which climbed nearly 15% in 2014.

Mortgage rates have bumped up (very) slightly, but are still well below 4 percent, which is great news for both buyers and sellers? Why is it great news for sellers? Well, for the most part, many sellers turn into buyers once they have their home in escrow, so the “win-win” is in full effect. Homeowners are excited as well, being able to take advantage of lower rates to refinance to a lower monthly mortgage payment, or access equity to make home improvements or other investments. We’re continuing to see mortgage loan applications jump as a result of low interest rates.  Continue reading

Rates hold steady while economy continues to improve.United States Federal Reserve System

We’ve had a fascinating turn of events, economy-wise in 2014. Recent figures from the Bureau of Labor Statistics showed continued job growth and the unemployment rate falling below 6% for the first time in six years. The median price of a single family home in Santa Clarita has risen nearly $60,000 since January, with condos rising $35,000. Yes, we’ve seen more homes for sale in the Santa Clarita Valley than we had this time last year, but the rise in inventory denotes more of a balance in our real estate market than anything else.

There have been some doom sayers last year that predicted things would be much different by this time. Some predicted that the reduction in Quantitative Easing by the Federal Reserve would cause interest rates to leap forward. Others predicted another real estate bubble. None of which has happened in 2014.

In fact, the Federal Reserve recently announced that no new changes would take place in interest rates for at least the foreseeable future. They did this in part to insure the economy continues on its path to recovery by making money cheap to borrow. They are also taking precautions in the wake of a stronger dollar bumped up against slower economic growth in international markets. It’s a delicate balance, along with decisions that have affected our national economy in a very strong way, with the stock market spiking upward upon the most recent news. Continue reading

Significant increases year-over-year in SCV housing market shows no signs of slowing.

For anyone who may have been concerned that the fast paced positive changes in the real estate industry in 2013 were a fluke, think again. Housing prices were up once Santa Clarita home prices on the rise.again in January 2014 compared to the January of 2013, showing an increase of 17 percent over the previous year for single family residence.

Single family home prices sold at an average of $432,900 in January of 2014, compared to $360,000 in 2013. Condominium prices jumped 11 percent year over year.

Seller’s Market

This of course is continued good news for homeowners who are seeing noticeable returns as their equity rises. However, while we are seeing a rise in inventory of homes for sale in the Santa Clarita Valley, we’re still far from what would be considered “balanced” levels where both buyers and sellers benefit from the marketplace. Continue reading

Steady climb in real estate prices second highest levels since 2008.

More good news for the Santa Clarita real estate market: Housing prices have continued to rise to pre-recession levels. Santa Clarita housing prices on the rise

Resale homes jumped nearly 24 percent over November 2012, selling for an average of $445,000 in November of this year, according to the Southland Regional Association of Realtors. Condominiums jumped to an average of $295,000, which is a gain of nearly 50 percent over the average selling price of $197,000 only a year ago.

These market increases are significant for home owners, especially those who purchased earlier this year, as they have already seen a return on their investment. Home sellers have been able to take advantage of a tight inventory market in 2013, which helped to boost prices based on supply and demand.  Continue reading

Median Santa Clarita Valley home sales jump from September to October.

In a report issued by the Southland Regional Association of Realtors, Santa Clarita has once again seen gains in home prices during the month of October. The median sales Santa Clarita home prices on the rise.price for a single family detached residence topped out at $440,000 last month, which is a nearly 3 percent gain over September. Year over year, we’ve seen home prices rise just over 22 percent from October 2012, where home prices averaged $360,000.

Condominiums prices are also rising. This is good news considering their slow start out of the gate once the real estate recovery began in earnest. Homeowner Association regulations regarding FHA financing for the purchase of some condominiums had led to slow growth, but it appears that home buyers eager to “get into the game” have overcome those obstacles as condo prices have jumped 40 percent from October of last year. Average sales price of a Santa Clarita condo was $280,000. Continue reading

With housing prices on the rise, many formerly upside down homeowners are Drop in negative equity sees rise in real estate valuesonce again seeing equity in their properties.

A recent study conducted by Zillow.com showed that the nation as a whole has seen sharp drops in “Negative Equity” housing; meaning that the the number of homes worth less than their loan amount, has dropped dramatically.

Overall, Negative Equity homes have dropped 21 percent in the third quarter of 2013, with California leading the way at 44.4 percent. Followed by:

Nebraska (38.9 percent)
Minnesota (38.2 percent)
Arizona (38.1 percent)
Utah (37.5 percent)
Texas (35.7 percent)
Nevada (35.6 percent)
Oregon (32.5 percent)
Washington (30.2 percent) Continue reading

High percentage of equity sales, and lower number of short sales and bank repos are strong indicators of permanent recovery.

It wasn’t so long ago (As late as 2012, as a matter of fact), when Santa Clarita’s inventory for sale contained a majority of short sale and bank owned property sales. Many Is the real estate crisis finally over?sellers don’t have to go back too far in time to remember what it was like to see the equity in their homes shrink, then turn negative, and many ended up either losing their homes by foreclosure or barely escaping a bank sale through other means.

Those were some very tricky times for property owners, and for a while, it seemed like this situation might never end.

The good news is, that over time, we’ve seen a sharp rise in home sales as well as property values, with housing prices in the Santa Clarita Valley jumping nearly 30% year over year. While we did see an inventory crunch this year due in large part to low interest rates and a high demand from home buyers, it only fueled prices and gave sellers the edge they’ve been waiting so long for.  Continue reading

Brandon speaks with Don Goettling and Gino Fronti, hosts of the Real Estate Santa Clarita Valley Newhall Real Estate UpdateRadio Network on AM 1220 KHTS.

On Thursday, August 8th, 2013 Brandon was a guest of the Real Estate Radio Network on AM 1220 KHTS located in Santa Clarita, CA.

He spoke in depth about:

  • How home buyers and sellers should focus on success in their real estate objectives.
  • How despite the recent market changes, overall housing prices have remained steady, with a national average between 11 and 12 percent.
  • He also discussed that, while indicators point to a shift in the market, it’s an even better time for buyers with more opportunities to find the home of their dreams.

You can listen to the entire interview with Brandon on the Real Estate Radio Network by clicking the “play” button below.

 

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Client Testimonials
I had specific needs for my new home. Brandon was very patient with my unique situation and flexible when it kept changing. He showed me so many houses, but with little inventory, none of them were quite perfect or they had too much HOA or Mello Roos. Finally when we found The One, no HOA, no Mello Roos, it had been on the market for 4 days and I made an offer that morning. I was sure the sellers would give it to someone else but Brandon worked hard to make sure they accepted my offer and by that night, the house was mine. Had it not been for Brandon I would still be searching for a house because so far, there is still nothing better than mine.
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