The weekly recap from the Santa Clarita real estate blog is as follows.
First, a quickie real estate and housing market update for the SCV cities - including the City of Castaic, Canyon Country, Newhall, Stevenson Ranch, Saugus, and Valencia.
We are still within a home seller's market. Interest rates are looming, recently relaxed down to 4.5ish percent.
The FED is going to be meeting at the end of this month - July 2018 and will potentially raise interest rates. The question of the day is how much and will they now be in the 5's.
What will a true interest rate hike due to the housing market in Santa Clarita Valley? I'm sure it won't put the market onto its arse, but it will cause a slight course correction. Instead of the increasing property values we have been experiencing 3-7% per month, we will experience some flattening of the housing market and price reductions within some of the Santa Clarita Valley cities.
The interest rate hike will also cause those sellers who have waited "long enough" to put their homes on the market for sale, to put their homes on the market for sale. I don't opine this will flood the local housing market with inventory causing a shift from a Santa Clarita seller's market to a Santa Clarita Buyer's market, but it will further flatten out the increases our home sellers have enjoyed during the past few years.
Back to High School Economics - The housing market is all about supply and demand. There are other economic factors that cause some warping within the real estate markets, but at the end of the day, there is someone wanting to do something in every type of real estate market. It's my job as a Realtor to find that person and be of great assistance to them in the serving of their real estate needs.
Santa Clarita weekly recap - Friday Finale
July 1, 2018 - I wrote an article showing how the Valencia CA real estate market is doing within zip codes 91354 and 91355. I have seen the sweet spot related to the local market and housing prices. Where days on market time frames within Valencia CA are super low. Read - Valencia CA real estate update July 1, 2018
July 2, 2018 - Every week I take a different Santa Clarita Valley city and the real estate activity therein and I dissect it. I want our real estate clients and those who have the interest to know more than the average agent when it comes to activity and the type of market that is prevalent. This week I covered the "ultra" low real estate inventory in Stevenson Ranch CA - Read - Stevenson Ranch real estate market Update July 1, 2018
July 2, 2018 - Noticing a slow down within certain price ranges within the Santa Clarita real estate market, I wanted to get some real data to present related to how deep we are within a home seller's market. I gave a 4-year history related to the Santa Clarita real estate and housing market. I also included a PDF showing the data points that I graphed related to 4 years of real estate inventory within the Santa Clarita Valley cities. Read - Could Santa Clarita be climbing out of a home seller's market?
July 3, 2018 - With the current real estate market in the Santa Clarita Valley being so competitive, with multiple offers on more than 1/2 of the homes listed for sale, I have seen a strategy work well for home buyers. Within this article, I spoke about the home buyer's love letter. It has worked with a lot of Santa Clarita home seller's and has worked in other areas that we have represented home buyers. Read - In Santa Clarita's tight real estate market love letters are helping
July 4, 2018 - Not only did I talk about the local July 4th independence day activities within the Santa Clarita Valley for 2018, I pulled apart and spoke about the Foreclosure and Bank Owned real estate market within the Santa Clarita Valley Cities and within the other Southern California areas. Of course, due to the present health of the housing market, foreclosures and "bank owned real estate" is not very common. In fact, we are down to about 1% of the current real estate market is a foreclosure in nature. That is super healthy. Read - Foreclosure update for Santa Clarita and Greater Los Angeles
July 5, 2018 - Buying a home with nothing down? That is now a reality again. Except for this time, there appears to be some better enforcement with the offer. We received an update from our top Santa Clarita real estate lender who explained that Veterans are not the only ones that can buy a Santa Clarita or Los Angeles County home with zero down. Read - You don't have to be a Veteran to buy a home with ZERO down
There are other articles that I had written this week - here are those links:
Welcome to SCVnest - I'm Connor MacIvor with REMAX and I want to be your Realtor. Let me know how I can accomplish my goal and if I'm already serving you, then I'm Blessed!