Jan. 7, 2020
Breaking ground in real estate within the Santa Clarita Valley for 2020 we have had 8 new listings hit the market in the re-sale realm.
That's like the 20th circle of the As, but I digress.
During the past 7 days - up to the 1st of 2020 in the Santa Clarita real estate world, we have had some exciting changes.
First and foremost - let me cover the current real estate inventory that is on the market for sale.
You may be venturing out and surfing websites that have been built in order to sell your personal and private information to agents, lenders, grocery stores, big-box chains, home improvement warehouses, and others.
If you are not seeing the listing on Santa Clarita home experts, it is probably not real.
What is a listing if it's showing up on another website, and not on Santa Clarita home experts?
It could be a "coming soon" listing that is not verifiable. Those listings that are being "pitched" without contracts in place or without a signed agent seller agreement. Will it ever be a real listing?
Possibly. However, what you need to know is that sellers are not going to sell their home pre advertising and marketing in the multiple listing service - the MLS.
They won't. A home seller only has to ask a friend or family member who has sold a home where the buyer came from and they will, almost always, respond from another agent.
Said agent acquired that buyer from their own sphere of influence or that home buyer found that listing on the MLS - which is connected throughout the Santa Clarita home expert website.
OMT before I move into the most current Santa Clarita real estate market news, no seller is going to sell their home before their home has hit and saturated the Multiple Listing Service.
It's because at that point their home has become Syndicated. Syndicated is what you want to be when it comes to selling something, a product or service. Including a home.
With my real estate radio talk show for Santa Clarita real estate, I pay for syndication. I pay iTunes, stitcher, radio.fm and other websites to take my radio show and spread it to the masses.
The same applies to the multiple listing service, the MLS. If you are looking at a non Santa Clarita home expert website and if you are seeing a home that is not listed as active on my website, don't fret.
At the moment it becomes available, you will be able to look at it and have us write you the offer if you like it enough to buy it.
For those sellers who had taken their agent's word for it and accepted an offer on their home before it was advertised and marketed properly, it happens and now you know!
Santa Clarita housing market at a glance January 7, 2020
Today is Tuesday and here is the breakdown for the Santa Clarita real estate market.
We have had over the past 7 days 8 new listings hit the Santa Clarita real estate market for sale.
I have been watching the Santa Clarita real estate market and have seen 7 homes that have had their prices changed. These price changes have been in a downward trend, FYI.
2 homes have re-entered the housing market as active and for sale. The reason this is important to a home buyer is most don't hire agents who will keep watch over listings they have seen and loved, where their offer was not accepted by the home seller over another.
If your agent is on the ball, they will keep watch and ensure they notify you if something happens like did in the two homes that were for sale, had accepted offers on each, but then fell out of escrow and have become active again.
Some may say that there was some type of issue discovered with those homes where the buyers canceled for their own good. Some type of malfunction or discovery.
You'd be surprised how often it's something else. Typically something else having to do with the home buyer and their ability to purchase said home.
So hence a home buyer needs to be truly pre-qualified by a reputable lender. Not by one of those lenders who will listen to a few numbers provided by the buyer and write up a pre-qualification letter.
Pre-qualification letters, real ones, take time to produce if all the due diligence is adhered to by the real estate lender.
One home in the Santa Clarita Valley cities entered escrow with an accepted offer between the seller and the home buyer. Yes, this indicates that the housing market is still recovering from the holiday slump that we experienced in the Santa Clarita Valley which started before Halloween 2019.
7 homes have had their status changed to a more secure definition of being in escrow. 7 homes entered the pending status. On those homes in this status, the sellers and their agents have deduced no further showings are necessary and that their buyers are going to make it to the finish line, thereby closing escrow.
9 homes closed escrow during the past 7 days during this first week of January 2020 in Santa Clarita.
8 real estate listings in the Santa Clarita Valley did not sell within contractual timeframes and expired. If you were one of these sellers, I hope your Santa Clarita real estate agent prepared you for the other agents.
Did they? Did your agent tell you that you'd be called at all hours of the day and night? Did they tell you that it will be horrible and may not stop even months later? The other thing is that it doesn't matter if your agent used your phone number in the confidential section of the MLS to schedule a showing or not.
There are companies out there who make it their business to find out who you are and gather all they can about from your online and non-online history.
One thing that you may be able to do is to make sure you call the FDNC - Federal Do not Call Registry. It's an actual .gov site. I copied and pasted the URL to the link. If you are going to surf for it on your own I'd suggest the query of Federal Do not Call list. Just make sure you are choosing a .gov website and look for the "lock" to be activated before the URL string so you know you are on a secure website.
Unfortunately, it's not like the clouds are going to part and just like that the calls will stop. Your action by placing your phone number on the FDC list will only stop some of the calls. And then you have the threat, "Hey, I'm on the FDC list!!!"
Kind of like standing in the middle of the street shaking your fist and yelling expletives :)
Where is 2020 going in Santa Clarita real estate
Lots of listings will be coming our way during the 1st and 2nd quarter of 2020 within the Santa Clarita Valley. I say so because of the number of clients we had met within 2019, who was going to wait until 2020 to press the trigger and have us sell their homes.
If you look back to 2019 - the interest rate reduction caused people to refinance, not sell and buy again as some had hoped for.
That did a great job stalling the Santa Clarita real estate market with the lacking real estate inventory buyers had doubts on if they were going to be able to find a home to buy that fit their needs.
What did most of those buyers do? They signed new leases for a year or more.
That action continued to stall the Santa Clarita real estate market in 2019.
Moving forward, we are going to see that refinance inventory hit the market in 2020. We will also a very high buyer drive after Q2.
Most of those buyers are going to have more for downpayment than they did in 2019.
Those extra funds will assist with the costs of becoming a new homeowner.
If you are buying a home for the first time, you should expect there to be additional costs that you may not be experiencing as a tenant.
If the local has a Home Owners Association, HOA, that will now be up to you to pay. However, that plus your mortgage and insurance with the low-interest rates will most likely be lower than you are paying for rent.
Plus, you have the mortgage interest deduction on your taxes. So hence the benefit of homeownership.
Also, consider now that you own your own home, you don't call your landlord to fix something that breaks. During your first year, you will most likely call the home warranty company from the policy that was negotiated for you at the seller's expense.
If the item that needs to be fixed does not fall within the purview of those things covered by the home warranty, you will have to go it alone. If you are my client who has used the Santa Clarita home experts to purchase your residence, we had a discussion as to who you need to call first when something goes awry. That person is me so I can run interference between you and the home warranty co.
New Santa Clarita Homes the approach
Before visiting any new home center or new Santa Clarita builder community, call me.
The reason is so I am able to give you what you need to know before being confronted by a new home real estate agent. Those are hired and under the employ of the new home builder.
The truth is they are all pretty great. Some have done what I do and have done since 1998, representing buyers and sellers in re-sale working for a brokerage and being mostly self-employed.
Some only work for the new home builders due to the security it offers. Medical, dental, vision and other benefits. Also, much less money in the way of overhead.
But - Here is the BUT - If you go into the new home center and in any way identify yourself, you are stopped from being able to use your own agent in the new home purchase process.
You cannot have me negotiate for you. I am unable to get you discounts, incentives and further credits regarding your purchase of a new home.
Having me on your side when buying a new Santa Clarita or new home elsewhere in Southern California is very worth it because I cost you nothing. The new home builder pays me to represent my home buyers with new homes and new construction.
That costs you nothing and gives you all the benefits of my new home buying experience. I have visited all of the new home builders in the Santa Clarita Valley. When we have a new one enter the current market, I go and visit with them. I find out what it will cost to ultimately have my clients buy one of their new homes.
This will include mello roos taxes and other special assessments that would be horrible to close on one of these new homes without knowing.
Watching out and deciphering the fast talk provided by the new home builder's agent. That is job number one.
How much can the HOA increase in the future? What is the likelihood?
Great Question that gets asked by myself in front of my new Santa Clarita home buyer.
Plus a whole bunch of other questions pertaining to the new home that may or may not be contained in the small print within all the tons of paperwork they throw at a new home buyer.
Preparing for Santa Clarita real estate in 2020 is the key
If you have been contemplating buying a Santa Clarita home in 2020, give me a call.
My best first step for our homebuyers is to sit down or talk over the phone to develop a game plan and for me to ask the right questions that you may not have been asking yourself.
Buying a home is not for everyone. There are some people that should not be buying real estate.
Asking the right questions is very important.
There is also a volley of real estate lender/mortgage broker questions that will be necessary for me to impart to you. This way you will be getting your best deal on your loan and be able to identify any junk fees that will need to be dealt without before you pay them.
Just know that having to pay a higher interest rate than you should have been given over 30 years is not good. I will cover what you need to know to get the best interest rate when wanting to buy a Santa Clarita home.
When you are ready just reach out to me and I'm glad to present you the first official week in Santa Clarita real estate during 2020.
I'm Connor and It's my pleasure to have been able to present you this Santa Clarita real estate update.