Opinions - that are like in some instances what everyone has. You may have heard the "like what" of that statement - if not, I'll save you from the profanity.
Real Estate opinions - they can be self-serving.
Some agents say buy now because the real estate market is only going to get more expensive. After they make that statement they fall back to the historical record for real estate.
And yes, if you go back to the first recorded numbers - like back in the late '40s and early 50's - a cute single-family home in Compton California was $11,000,00 new.
Today that same home in Compton CA would be in the $500,000.00 range.
So the agent is right, home prices do continue to go up. What they left out is the ebb and flow that occurs during the "going up" process.
There are seasons of change where real estate hits a cycle known as a foreclosure cycle.
Other seasons of change in real estate fall upon a "corrective" cycle.
Still, others are called a buyers market where the market is so laden with inventory that home sellers become more desperate and cut their home prices to the quick.
These seasons occur in between the home prices increasing.
There are other outside factors that also impact real estate and can cause or influence these seasons.
- Economic downturns
- Government regulation
These are only a few - but in big picture speak - Now, April 25, 2021, may not be the best time to buy a home in the Santa Clarita Valley!
There - I said it and I'm sure this will be spread to every single seller who is desiring to sell their home and wants to use Connor MacIvor (that's me) to do so. Real Estate agents can be cheeky like that :)
Well, the truth is the truth. Can home prices go up forever? It has not happened yet - every cycle increase has been hit with some form of lowering of prices and or a large amount of housing inventory that has outrun buyer demand.
Is not a good time to buy a home. Only if you have to and there are apparently a lot of people that have to. That would explain how the homes that enter the "for sale" market in the Santa Clarita Valley are off the market in escrow within a few days.
And it takes a few days because of the counter offers and responses that each offer gets from the Seller's real estate agent.
The way it works is when a home hits the market it starts being shown immediately if there is not a "coming soon" build-up.
Coming soon shows the home as "coming soon" within the online channels and gets agents and people interested in seeing it.
It's a great seller benefit because the feedback they receive and the interest level(if high) is very reassuring.
Once the home enters the "available" and "active" real estate market, the showing starts.
Due to Covid - there were changes that have become routine when it comes to viewing real estate. Some of those "routine" changes are still in place and don't seem to be changing - one such change was the stopping of open houses.
That may change soon - but the disinfecting between showings, the buyer registration and questionnaire, the home seller covid instructions, and other items are now typical in the showing of real estate listings.
After the appointments are made, confirmed, and executed - buyers with their agents start the process of interviewing the seller's home that is for sale.
They will get buyer questions as far as what the home is valued at, how the listing prices support the condition, the school district, and locations if applicable if there is an HOA the cost and what they cover, plus any extra property taxes known as mello roos or special assessments.
After that step - the buyers usually are very quiet if they like the home enough to write an offer on it.
A good-savvy real estate agent will have already told their clients that this would happen and how it'd play out.
After the ice is broken, it's time to write the offer. There is a lot riding on an offer within a total seller's real estate market as we see in Santa Clarita Today.
The offer is submitted with all of the supporting documentation to the seller's real estate agent. If a mistake was made on the buyer's offer or if any of the requested supporting documentation is not received that particular buy may miss out.
You see, the market moves fast. When you are a listing agent and you get 25 offers in three days on a home you just listed for sale, any mistake in offers received causes angst.
Some agents don't have time, or won't take the time, to send reminders or requests for the information that was clearly laid out to be received when submitting an offer.
At no fault of the home buyer, they did not know better. Hence the philosophy to hire smart out of the gate.
You find agents online, their own personal business websites. Look at their blogs. I run the top Santa Clarita real estate blog.
What are they writing about? Or are they.
In today's informational world where everyone wants "instant gratification", most agents are not doing anything but paying for your personal information so they can sell you. There are companies that are data mining in nature. They obtain your personal and private information and sell you to the agents who pay for it so they can in turn sell you a home. Heard of Zillow, Realtor.com, those other internet real estate websites including Instagram and Facebook - you ask the question and you have just been sold.
The problem is you will come across the agent who does not digest and regurgitate the market on a daily basis on their blog or on their real estate radio show.
I cannot provide the best service without writing about it and talking about it. To be able to write down factual information and opinion about the real estate market is a Blessing.
Hence why I'm busy and why my clients say such nice things about their experiences.
Have a look around my Santa Clarita real estate blog.
Go to my Santa Clarita YouTube channel for real estate where I post our real estate radio shows.
When you are ready - call me and I'll take great care of you.
Please, do yourself a favor when it comes to hiring a real estate agent to be on your side when buying or selling a Santa Clarita home.
Don't trust someone else - another entity to find you the real estate agent. Do a bit of the elbow work yourself. Look around online. You will start seeing what I tell people about.
Review websites, we do the work for you so you don't have to when hiring a real estate agent, websites like that.
I would rather save my clients money when using my services, provide great service and a better experience than pay the online real estate syndication websites to steal your personal information.
So, when you are ready - call me.
The Santa Clarita real estate market update April 2021
The inventory numbers are nothing remarkable. They have stayed constant during this entire month and are unremarkable today, April 25, 2021.
- 185 total residences for sale
- of those 41 are coming soon status
- Total Active inventory is 144 as of 4/25/2021 - 1327hrs
- 186 residences are Under Contract
- 359 residences are Under Contract not being advertised for back up offers
- Since the beginning of April 2021 - 317 residences have sold, closing escrow
The cities researched for this Santa Clarita real estate market update were the following:
- Canyon Country
- Stevenson Ranch
There are other things for sale that are included in real estate, such as land. I did not include those numbers. The reason is that land listings usually take a lot longer to sell amongst other variables that would eschew the numbers and provide inaccurate comparisons.
Of the types of residence that I included are all the "stick-built" homes, condos, and townhomes. Here is a break down of the data research:
- Single Family Residences
I also ran all common interest fields - Common interest is used to describe the type of ownership of the property being offered for sale consistent with the ownership types recognized under California Law.
- Community Apartment
- Condominium - (detached type)
- Planned Development
- Stock Cooperative
Special listing conditions was the next field, which I researched, that I wanted to be included so you'd see the total results for these listing types:
- Standard Sale - aka equity sale, no distress, except maybe the commission being charged :)
- Notice of Default, NOD
- Real Estate Owned, REO
- HUD Owned, Housing, and Urban Development
- Short Sale
- Probate Listing
- Bankruptcy Property
- Third-Party Approval
When I do my Santa Clarita real estate market research and updates I am sure to collect all the data possible so when you read it you know that I'm not rolling the dice hoping to influence a selfish drive within myself.
It's factual, data verified information and I'm glad to provide it to my real estate clients in the Santa Clarita Valley cities.
When you are ready - call Connor.