When will a Santa Clarita Valley home buyer be in a positive equity position?
If a buyer bought a Santa Clarita Valley home, located in Valencia CA, September of 2011 - When would they be able to sell that home from a ZERO sum position?
Said Differently, when could they sell that home and walk away breaking even?
That is a question my Real Estate Team at REMAX gets on an almost daily basis. Therefore, we thought we would produce this Santa Clarita real estate video and give you some Intel.
We have seen as property property prices have been increasing hand over fist in the Cities that compose the Santa Clarita Valley.
However, this is not just a local phenomena. It is country wide with numbers provided in percentages in an attempt to give a "value" on the nationwide rise in Single Family Residence median prices. Some sources say 4% increase and other's say 7% increase since September of 2011.
That brings us to today. Back to our original question. "If I was one of the "lucky ones" that bought at the true bottom of the real estate market, when could I sell my home and where is my "break even" point?"
On the video we looked at the past inventory versus current prices in the Santa Clarita Valley city of Valencia CA. We watched as I adjusted the graph to take in that data and explain it verbally.
It would seem by this "accurate" pricing data you would have been even somewhere around June or July of 2012. That is with a home purchase at the median price of 400k, back in September 2010.
Selling it, taking into account 8% closing costs - commission, title and escrow fees(without discounts of course :) ). The market recovered enough sometime in July of 2012 when the Median Sales price in Valencia CA were about 432k.
If you are on the right of that date and if you bought a home sometime around September 2010 - you are looking good to sell with profit today.
Be Safe - let The Paris911 Team at REMAX know if we can assist you - My BEST.