Jan. 17, 2013
Where is 2013 going with regard to our buyers and sellers of homes in the Santa Clarita Valley? Doing any kind of speculation about future results can be tricky. In fact, in some cases it can make and break some people and their businesses.
Watching and listening to REMAX's CEO Dave Liniger - I have a feeling that he is completely on target and we are anticipating our 2012 real estate market continuing throughout 2013.
If only we could get some more "on market" inventory to hit the market. With the Shadow Inventory becoming less and less likely, we are looking for the "investor flips" to populate the market with short sales and standard sales.
In all three circumstances - it will be a chance for buyers of real estate to get what they want in a home purchase. With inventory hitting less than 1 month as far as absorption rate goes, buyers feel defeated.
Refresher about Absorption Rate: That is the rate at which homes are selling. It's factored in this way: Taking current inventory numbers today, at the rate at which homes are selling in the Santa Clarita Valley Cities - if no further inventory was added how long would it take to get to Zero units for sale. That "amount of time" is the absorption Rate. In the case of Santa Clarita cities real estate - we are around 1 month or less. Which, BTW - is exceedingly unhealthy for a real estate market, from a buyers perspective.
Here is Dave's 2013 list of the predictions I spoke about on our Santa Clarita real estate show this AM.
Dave Liniger's Top 10 Real Estate Predictions for 2013:
1. More Homebuyers and Sellers come back to the market
2. Homes sales will rise by 6-7% and prices rise by 3-4%
3. The inventory of homes for sale will hit a bottom
4. Higher-priced homes begin to sell
5. Distressed property numbers continue to fall
6. Shadow inventory continues to fall
7. The number of short-sale closings will rise to a peak
8. Record-low mortgage rates rise slightly by year-end
9. Lending remains tight
10. Home affordability remains the best in years
On the Podcast for Santa Clarita - at the top of this page, I covered each one and gave my own opinions. Being from a police background I know opinions are like something :) However, opinions work when they are grounded in experience and knowledge.
We wrote a post recently about back up positioned real estate in the Santa Clarita Valley
. We covered what exactly this means to a buyer approaching the home buying plate. We also explained what you can do to best protect yourselves from getting taken advantage of - at least emotionally when wanting to write an offer on a home that is being advertised as if the owner wants additional offers.
Speaking about Buyers - below are the three latest homes in the Santa Clarita Valley Cities that have had their list prices reduced. Each will be within the Santa Clarita Valley
and if you are viewing a red box that states the listings cannot be found that means there is nothing matching my query.
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