Selling Your HOme
The Santa Clarita real estate market has had a pretty good summer so far. Condos are up $15K from the previous month, and the median price of single family homes are holding steady at over $500,000.
Interest rates, despite fears of being raised by the Fed, are actually once again below 4 percent. Available homes for sale still falls slightly short of statistical averages (881 homes available for sale in July, according to the Southland Regional Association of Realtors). So why on earth should you still plan a sales strategy for your home if it’s just going to be gobbled up by scores of buyers? 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
What does it REALLY take to get an offer on your home within your desired time frame?
Homeowners have many different reasons for selling their home. Whether upsizing, downsizing, or due to unforseen economic issues, it’s important to garner as much attention from buyers in an effort to sell it as quickly as possible.
Of course, pricing your home right is the first step, and we’ve covered that issue at least a few times in the past. However, feedback from potential buyers is critical in making sure that your home is indeed appealing to those who may be interested in purchasing your home. And how do we generate feedback from buyers? First, we get them through your door. And how do we do THAT? Marketing, of course!
Welcome to the future of real estate marketing.
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
Low interest rates and an improving economy does not necessarily mean you can price your home as you choose.
Fair Market Value, or FMV can be quite the moving target, based on continually changing conditions in the real estate marketplace. Like stocks, bonds, and other investment items, real estate falls under that FMV category as well.
So what is “Fair Market Value?” Quite simply, it’s the price that one is willing to pay for an item based on several value conditions. For real estate, it’s location, demographics, size, amenities, and honestly, what other similar properties have sold for.
For example, if you have a 1,500 square foot three bedroom, 2 and a half bath home on a 6,000 square foot lot in Valencia, we’d begin to analyze recent sales of similar homes first in your tract, then perhaps we’d broaden the parameters a bit to see what homes sales were in surrounding neighborhoods for comparison. Continue reading
What happens when you want to buy a home, but you need the proceeds from the sale of your current home to put the deal together?
Let’s say a homeowner who THOUGHT they were perfectly happy in their current home comes across what they feel is their dream home. They want that home, and they feel they need to make an offer as soon as they can. The problem is, they need the proceeds from the sale of their current home to close the deal. The double-whammy to the problem is…they don’t have their current home listed for sale.
This can be an issue if you’ve already found your home of choice. In fact, we would always recommend putting a plan together where you list your home for sale first before you find your “dream home.” Why?
For one thing, many sellers want to be sure that their escrow will close on time…or at least close at all. Their accepting your offer would mean that they have very little control over the time it will take for your home to sell and close escrow. Continue reading
Buyer Beware” does not apply when it comes to real estate!
There’s that little stain on the ceiling in the downstairs bedroom that was caused a few years back when a pipe in the upstairs bathroom leaked. It’s fixed, but still, the stain is there.
The roof looks good, and it only leaks…a little…when it rains really, really hard and for a long time. The last time it leaked was during the big storms we had back in 2005. We sealed the leak, and we don’t think it’s leaked since.
We noticed something weird with some of the rafters in the attic a few months back. A pest control company determined that termites had infested the area. We were able to afford the extermination, but not the repairs for the damage the termites caused. Continue reading
Modern Marketing Techniques and Basic Common Sense Pricing Are Two Key Ingredients To a Quick Home Sale
We’re seeing a bit of a shift in the real estate market here in the Santa Clarita Valley. Home sales aren’t slowing (Compared to what we deem a “normal” market), but compared to the brisk pace of home sales last year, we are definitely seeing some change.
Remember however that last year we had an extreme shortage of available homes for sale in the Santa Clarita Valley; as little as a month’s supply on hand. Compare that to this year, where we have nearly triple the amount of homes, and you can see why we’re seeing a slightly different market. Even still, the SCV is sitting on just shy of a three month supply, which is just under what we would consider a “balanced” market.
Even still, home sellers are still in anticipation of a slew of buyers and offers bursting at the seams. So what are the key ingredients we use to produce as many buyers at your door as possible?
1. We market your listing on the internet. Continue reading
Property owners who “overlook” issues that can affect the sale of their home can have big problems down the road.
A leaky roof. That dryrot just below ground level on one of the posts that holds up your back patio. That un-permitted room addition off of the
These are but a few examples of issues that may affect the sale of your home. Whether they were caused during the time you have owned the home or not, if you are aware of their existence, you must disclose them during the escrow process.
Why disclosure is so important.
It is a requirement that sellers disclose all KNOWN issues that may affect the sale of their property. These issues may affect not only the value of the property, but also its safety and security. That being said, the buyer has the opportunity to hire a professional home inspector during the escrow process to assess any other issues, known or unknown. They also have the right to request any repairs that may arise as a result of the inspection. The seller may accept the request, refuse the request, or come to an agreement with the buyer as to which repairs may be initiated before close of escrow. The buyer also has the right to cancel the transaction prior to the contingency expiration period should an agreement not be reached. Continue reading
Is this a sign of a shift in the Santa Clarita real estate market?
The Southland Regional Association of Realtors released their statistics for the month of May, revealing that single family home prices made no gains over April. Currently single family homes are holding at a median price of $485,000 in the Santa Clarita Valley.
Condominium prices in the SCV did bounce upward nearly 6 percent last month, settling in at $281,000. Condos have had a bumpy ride in the past year or so, with a few ups and downs along the way. They had topped out briefly at $295,000 in November 2013 before taking a dip at the beginning of this year, but overall their median equity has increased by over 12 percent since January.
Condos may have gained more appeal in light of the fact that single family homes are becoming out of reach for many entry-level home buyers. Continue reading