July 2019 – Santa Clarita – Real Estate Market Update

July 2019 – Santa Clarita – Real Estate Market Update


people are always asking me how’s the
real estate market it’s a great question people want to know what’s going on with
their greatest asset their home real estate’s hyperlocal meaning it differs
from community to community sometimes even street to street we want
to bring you information every month on the Santa Clarita Valley market but we
also are going to be featuring two communities each month so that you know what’s going on in your market this month were featuring Castaic and the Acton/Agua Dulce markets follow the link in the comments below and you can hear
all about those hyper-local markets now for the Santa Clarita Valley market update
for the Santa Clarita Valley the average prices have actually gone down
1.6 percent from last year this time why well there’s the same number of buyers
on the market but the inventory or the homes available for sale have actually
increased the highest demand properties right now in Santa Clarita are the
single-family homes between $400,000 to $600,000 for those homes you can
expect to be on market for about 35 days so what does all this mean the
prices have gone down a bit days on market have gone up slightly these are
all signs that the market is levelling out a little bit we know that a balanced
market is six months of inventory on the market right now we’re only in about
three and a half for single-family homes and under two months of inventory for
condos and townhomes so we know that it’s still a seller’s market so what’s
going on with interest rates they’re in the high threes low fours depending on
your loan amount and your credit this is the lowest that they’ve been in 18
months what does that mean it’s a really good time to either purchase or refi if you’ve been on the fence you haven’t refined yet or even if you refied a year ago now might
be time to revisit that it’s a great way to shave you know fifty a hundred bucks
off of you monthly mortgage depending on where
you’re at if you’re unsure how the rates are gonna benefit you it’s worth the
effort to talk to a lender just to find out how much you could save every month
so I would really recommend you reaching out if you don’t have a lender that you
use or that you can entrust to not be pushy and give you the right information
give us a call we always have a list of lenders who we know and trust who are
going to take great care of you so if you’re a seller what does all this
information mean to you if you’ve been sitting on a lot of equity in your house
and you’ve been thinking about cashing out now might be the right time for you
prices have began to tick down a bit now this is the first time we’ve had
a dip since 2006 so does that mean that the markets hit it’s speak and
we’re starting to go down in values I don’t know what I can tell you is that
the markets cyclical what goes up must come down
this could be just a temporary hold slight drop and then we go up more
typically we see something more significant in the economy that would
signify that we are going to actually start declining in value so it’s still a
great time to sell your place to cash out in the value and if you’re either
downsizing or upsizing your next purchase will have a great interest rate
so the chances of you making your money go further is actually really
good if you’re a buyer right now it’s still a
competitive market especially if you’re looking in the high demand categories so
that’s the single-family homes between $400,000 to $600,000 or in what we call the
HGTV flip homes which are turnkey ready to move in well decorated both of those
categories we’re seeing a lot of offers a lot of competitiveness that’s kind of
pushing out the prices for those types of homes you might end up in what we
call a multiple offer situation now for those situations you’re gonna really
want a competent realtor on your side so that you end up with the winning offer
believe it or not it’s not always about offering the highest price if you want
more information on how that works feel free to reach out to us we’d be
happy to explain it to you our goal is to teach you about the real estate
market so that you are empowered to make the right choices for your family as I
mentioned interest rates are the lowest they’ve been in 18 months even if prices
continue to drop interest rates are likely to go up you
can actually spend less on and mortgage if you purchase today with a lower
interest rate than waiting for the housing prices to go down and have a
higher interest rate be sure to subscribe to our channel because we post
other information on real estate as well as market updates monthly if you have
questions you can call or text us at the number below if you’d like this video
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