First time Santa Clarita home buyers can totally use these top 5 best steps to take when considering buying real estate.
1. To buy or not to buy a Santa Clarita Home
There are many considerations when wanting to buy a home, the first being should you? In all of the world there are certain people that should always rent, never buy.
There are other people that should continue to live with their parents.
I have kids and I'm hoping they are not in that category :)
Then you have the professions that provide the living arrangements.
Then there is everyone else. After you consider the reality of you becoming a homeowner, after that has been explored, and if that exploration has been affirmed - you need to buy real estate, that's when I come in.
Some say the best first place to start is going to be with a real estate lender. I would say that the best place to start is with a tried and true Realtor.
Because, in my office or via whatever type of communication you desire, that is where I inform you about how loans and lenders work. I explain how to get your best deal and what constitutes a good real estate lender.
Is a credit union that much better when it comes to the interest rates?
If you have a regular bank, are they going to be your best deal?
What about a mortgage broker, are they going to be your best deal?
How do lenders make their money and how can you get a great loan, with the best rate and the lowest in fees.
2. Afford versus qualification
If you are buying a home, you need to hit the lender after we talk. The lender is going to tell you two things. They are going to tell you how much home you can afford to buy and some things that can improve your credit profile to you are able to get your very best deal.
Remember after you meet with the lender, if they tell you that you can finance $700,000.00, you want to see what that payment looks like. Also, find out what that payment with insurance and taxes looks like.
Then factor in the HOA fee, if there is one. Also factor in the costs of other 'homeownership". If there is a pool - factor in that devices upkeep. The same goes for the lawn. If you live in a snowy area (nothing like that here in Santa Clarita), factor those costs.
Once you get your "total" payments per month, you may be surprised to find out that the lender's top for you may be more over the top than you want to spend each month.
It's so important for any buyer to get the "all in" payment per month.
When the lender runs you all through their computer systems, they are going to give you a pre-approval or pre-qualification letter.
This letter is going to be for a specific amount. During the process of searching, viewing, and offering on real estate, you may find multiple homes that you want to write offers on.
In some cases, you may not get the first home you have an offer written on. It may take a few times and in those cases, that happened for a reason. We may not know what that reason is, but you can rest assured that it is what I believe.
There are going to be times when your lender is going to need to be available after hours, during weekends or on holidays to match your pre-approval letter with the property being offered on.
We just had a client who was using a lender outside of our circle. When that happens, we never stop our clients from using their own lenders. Like we'd never want a lender to try and pry a client from working with us. (As Navy Federal Credit Union did to us a few months back!)
However, the lender must be nimble enough and have an infrastructure as such where pre-approval letters at different amounts can be produced within a few hours.
Also, local lenders are better. Remember, if the other agent knows the lender it helps. They can be vouched for. Unlike the lender who has an infomercial on at 3 am in the morning swearing they are the best of the best!
We'd be happy to make the proper introduction - Call me when ready. I'm Connor with Santa Clarita home experts.
3. What fits best - SFR - Condo - Townhome - Type?
Decisions such as these can mostly depend on the purchase price range. However, if you are going to be gone as a FAM - Federal Air Marshall, having a place that has a good Home Owners Association can give you a mental break. FAM's travel a lot and are rarely home.
SFR - Single Family Home. You will have your own front yard and back yard. The home won't be attached to any other home, except in the case of an attached single-family home.
Attached SFR - Attached Single-family residence - This one commonly shares a wall or garage wall with another home next door. the front yards and typically apart with garages and driveways separating them, the back yards are traditional and typically will share a fence.
Condo - Condominium - single level - shared ceilings, roofs, and walls. Parking not attached nor direct access.
Town-home - multi-story with shared walls or categorized by the builder at the filing phase with the city as a Detached Condo.
If you are considering manufactured homes and mobile homes, we have resources and can refer you to experts in those fields.
Personally, we are very good at Single Family homes to Quadraplexes. That is our forte and we stay within our comfort zone for the best protection of our clients.
4. Sale Types - Used/New and others to consider
We know there are regular sales. Foreclosure sales. Short Sales and other sale types for real estate here in the Santa Clarita Valley.
Re-sale homes. Those are homes that were new at one point, but the second sale (or more) is taking place. This is the re-sale market and we report on this faction of the real estate market most.
New homes are going to be those at all the new home builder locations. This is when I take my clients on a tour of the new home centers and present all the new home builders to them in the Santa Clarita Valley.
There are many different types of homes in the re-sale circuit in Santa Clarita Valley. Now, as of 10/06/2019, we are in a seller's market that is starting to relax. Homebuyers are at a very slow point and it's taking longer to sell residential real estate in the Santa Clarita Valley.
Regular Sales - An Equity sale. The owners own the home, they have enough equity to cover the sales costs.
Short Sales - Rare in this market, but very present in a distressed and foreclosure market.
Foreclosures - Bank-Owned and Real Estate Owned - REO, real estate.
Foreclosures - Private Party, Hedge fund and investor-owned.
Probate - the approval of the court is required to sell homes of this type.
There are those that we represent that want to focus on one of these sale types. We have investors that are looking primarily for areas that will contain cash renters.
Some of our homebuyers are buying to be in walking distance to the mall. Others are buying to be close to the schools their children will be attending. And Some want to be close to their church.
Others are buying to be close to the freeway access point in order to get a jump on the traffic that is ever increasing in the Santa Clarita Valley.
There are many different factors to explore when buying a Santa Clarita home. We are there for our clients one step at a time.
5. Location, Location, and Location
In the Santa Clarita Valley, we have 8 cities and 49 areas and a ton of neighborhoods.
Each of the neighborhoods purports a different builder. Each of the Areas consists of many different neighborhoods and the cities respond in like fashion being the largest geographically.
Acton and Agua Dulce are considered by those who are attracted by homes being much farther apart and not build on a traditional "tract" premise. In these areas, water can be an issue.
Also, response times from local law enforcement and rescue services can tarry due to distance and issues with the roadways being dirt and in need of repair.
Moving to Castaic, Canyon Country, Newhall, Saugus, Stevenson Ranch, and Valencia, these areas are built on the tract premise. in some of these neighborhoods, you are going to find homes that have built not so close together. You will also find homes in areas without a Home Owners Association (HOA).
Castaic, Canyon Country, Newhall, Saugus, Stevenson Ranch, and Valencia have fast response times for EMS - Emergency Medical Services, Fire Department (supplied by the Los Angeles County Fire Department, and Law Enforcement supplied by our friends from the Los Angeles County Sheriff's Department.
The response rates are able to be found via a CAD interface with the sheriff's department and within some various crime statistical apps available at your device's APP Store. Just be wary where the data is being collected from and make sure it's not some hack site/app.
Number 5.5 - Who am I?
I am Connor Macivor. I had a large real estate team in place at one point. Some would refer to a team such as I had as a mega team here in Santa Clarita.
I disbanded my team a few years ago. I did so because there were too many checks and balances that were being neglected and I felt a disconnect from my clients.
Paris and I vowed to only handle the number of clients a month that gave everyone the best service and results regarding their real estate goals.
That number has turned out to be 10 buyers/sellers during a 30 day period - or each month.
Any more than that and a client won't be updated as often as they'd like. Also, a client would stop feeling "special" when it came to working with Paris and me.
I have been representing home buyers and home sellers since 1998. Paris MacIvor has been representing our clients since 1999. The earning curve has been exceptional, but awesome.
I have to say during our real estate past we have had very few negative experiences. and the same applies from client to provider according to our home buyers and home sellers.
The biggest two things that I have found that clients appreciate and want from their service provider?
Don't lie and update often. Update even when there is nothing new to talk about.
Buyers and sellers love this and I'm here to serve you. Call me when ready! 661,400,1720.