Welcome to January 2019. Santa Clarita real estate presentations by Connor T. MacIvor - Your Local Real Estate agent.
I have been digesting the real estate data since 1998 and have seen the Santa Clarita real estate market change from being in a total seller's zone, to being a Foreclosure and Short Sale market, to a Total Buyers market to where we are today as of January 2019, a healthy real estate market where the Foreclosures/Distressed housing is at approximately 1% or less than the active inventory.
Foreclosures / Bank Owned / Real Estate Owned / Short Sales total 136 active properties for sale.
Total housing for sale in all of Southern Califonia is currently 14569 active properties for sale.
(all data as of 1957hrs 1/17/2019)
During this past week, we doubled up on our real estate radio show and Santa Clarita podcasts on HousingRadio. All radio show market broadcasts are accessible at the top of this page by clicking on the word "RADIO".
During the first month of most years, there is always a lot to report.
January 15, 2019 - Real Estate Radio Show and Podcast
January 16, 2019 - Real Estate Radio Show and Podcast
The housing market in 2019 is going to remain pretty standard. There are two "unknowns" on the horizon within the Financial World. Both have to do with the opinions on whether or not the FED will be increasing interest rates during their meetings this year. The "smartest of the smart" in the financial circles seem to think they will at least twice.
I will keep you posted as to whether or not that is going to happen and when it does, you will hear about it on our Santa Clarita real estate radio show.
To get the most out of your real estate - you must sign up for our local real estate podcasts on SCVsignup.com. You can also get access by filling out the form just above this text.
Santa Clarita real estate inventory
This week we have seen the local Santa Clarita home and housing inventory remains constant - We had a bit of an uptick - an additional 17% new listings enter the market right after the first of the year. These are as a result of homeowners listening to their agents about how the "first of the year" is the time to sell.
Some of the other factors making home sellers place their home onto the Santa Clarita real estate and housing market are so they can get a jump on the housing release we are going to potentially see starting March 2019.
This is not an anomaly, it's a typical real estate market transition from the holidays, closing out one year and ushering in the next. School positioning and growing families are the main reasons for the increase in housing inventory during the end of the first quarter of each year.
What most homeowners think that have growing families is where they want their kids to go and make good with the fact they are going to be experiencing growth in their family, if they haven't "physical" proof already. Most of the 2019 homeowners are the holdouts from when interest rates were at their lowest and when they refinanced at 3 and 1/3 percent.
A person can only wait so long before needing to move up or move away. In the case of 2019, there may actually be enough inventory to keep the market in a level pricing field. Meaning that we won't see prices escalate the 1 to three percent that has financial advisors speaking, we will be flat throughout the 2019 period.
I'm still quite confident that we will see the 1-3% increase in housing prices due to the buyer drive. I have seen home buyers and the current drive develop through the holiday season and now that we are Mid January 2019, I'm confident that we may see 2019 as a record real estate year in volume alone.
Santa Clarita real estate market update
During the holiday season, we observed quite a few listings become canceled as we entered into November and December. The new agents think the majority of these listings are being canceled because the home sellers are unhappy with their choice of agent. They feel that there is some fall away from where the seller/agent relationship was and where it existed upon being canceled.
After those "new" agents call in an attempt to solicit the x-seller, they are faced with a new outlook on things. It goes something like this:
Agent: "Hello, I'm Carl Yeung and I am the top real estate agent in your area and being such I noticed that your home did not sell."
Owner: "Yes, you noticed right."
Agent: "I know it much be frustrating, I only have one question for you, are you ready to hire the right agent?"
Owner: "Right agent?"
Agent: "Yes, the agent that is equipped to get your home sold!"
Owner: "I think the agent that I had hired could have sold my home."
Agent: "That is possible, but they did not since I see that you canceled."
Owner: "Actually, yes I had the agent cancel our listing, but we did so to allow for the 90 days reset."
Agent: "90 days reset, what is that?"
Owner: "Ah, my agent said that you would probably not know what that was and that you'd be calling me."
Agent: "I'm so confused, you mean your agents said that I would call you and now know what this 90-day thing was?"
Owner: "yes on both fronts."
Here is the issue with agents these days. They want to get the commission fast. They will risk having a home for sale during the holidays without informing the seller of the truth. While there may be a buyer that is willing to buy their home during the November 1st and January 15 time period, the chances diminish during holidays, all seasoned agents know this is a fact.
God forbid someone telling their client that they need to take a break from the listing in order for the CDOM to reset. CDOM - Cumulative Days on Market. When a listing is listed for sale, it takes a 90 day period of time of it not being listed for sale in order for this number not to appear on the Multiple Listing Service.
DOM - Days on Market - this figure is the one we want to be rendering. But when a client sees a home that has a 90 DOM and a 180 CDOM number next to it - that means the home has been listed for sale for 270 days on the market with up to an 89-day break between listing dates.
It's not always the case when a home seller will re-list their home with a different agent. Especially when the said agent has given them the intel about the 90 days reset and the typical happenings during the end of Quarter 1 of most years.
Of course, the way the housing market is active and the trend which is most prevalent are big deciding factors. Speaking of the current condition of the Santa Clarita real estate market. 2018 was a healthy year for real estate. We observed that the distressed inventory was at normal levels and that new housing and new construction is still "a thing" with new home communities popping up in the SCV Cities.
Speaking of new homes and new construction developments, those are worth watching for some of the "top upcoming" Santa Clarita Valley areas. More on that later this coming week on our Santa Clarita real estate blog. I will be writing an article on what you need to look for when wanting to buy in one of those neighborhoods that will be classed "up and coming".
Have crystal ball will travel
During this past week, I was able to read the daily housing and real estate news feeds that concerned predictions for 2019 and the real estate housing market outlook.
Most were saying that we will be experienced two FED interest rates hikes in 2019. They also see the housing markets increasing 1-3% in price.
Of course - this was for the United States as a whole. Not the Santa Clarita Valley cities. That's my job - to report on the local Santa Clarita real estate markets.
As do I on my Santa Clarita real estate radio and our podcast.
When you are ready for my assistance, all you have to do is reach out. Real Estate does not mean someone getting back to you the next day or when someone is returning calls between 5 and 6 and again between 10 and 11a. That is not how it works today, or should it.
Call me, I mostly pick up the phone or will text you that I'll call back super soon. When I'm with clients, I don't call. When I'm prospecting, a fancy agent word for doing other things, I pick up the phone. When I'm writing articles such as this one, I pick up the phone.
When I'm recording a Santa Clarita real estate market update, podcast, and radio show, I don't pick up the phone. When I'm done recording said podcast/radio show, I will then call back.
And there you have it. I call when available. And my availability is often and not encumbered by my personal time. I'm all about my clients, their wants and needs.