Santa Clarita Real Estate Forum

santaclaritarealestateforum August 28th, 2008

It was announced earlier this week that the Federal Housing Administration (FHA) will be increasing the Mortgage Premium charged to all purchase money mortgages, and full credit qualifying refinances. The increase is 25 basis points, bringing the Mortgage Premium charged to 1.75% from 1.50% of the loan base loan amount.

For a borrower seeking a loan in the amount of $200,000, this would equate to an extra $500, charged in the closing costs. FHA loans tend to have higher closing costs than conventional loans, this Mortgage Premium is one of the contributing factors to that fact. The need for FHA loans will likely only increase, as many potential buyers are lured into the market by lower housing prices, and the attractiveness of the FHA loans that provide attractive options such as only 3% down payment, and generous credit guidelines to those with lower scores.

The FHA needs to increase the Mortgage Premium in order to cover losses on bad loans, or seek taxpayer funds. Just when thousands of Americans are seeking out these FHA loans in order to qualify for their home of choice, and just as affordability is returning, cutting back on FHA loan availability is really out of the question for the time being.

To learn more about housing and loan options available to you when buying a Santa Clarita Home, contact The Scv Agents Team @ 661-291-2707.

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santaclaritarealestateforum August 6th, 2008

Looking for some great Santa Clarita Real Estate Statistics? Here you go! Paul Atkins over at Re/Max of Santa Clarita did another good job compiling some stats from the last 6 months of activity.

If you want to some proof that the local Santa Clarita market has experienced some very positive trends recently and really more so over the last 6-7 months, look no further than the numbers below:

Thanks Paul!

March 7th

April 7th

May 7th

June 7th

July 7th

August 7th

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August 7th 2008 Re-Cap, we have broke out REO listings into our report this month.

SCV TOTALS 1,673 active of that 612 are short pays 183 are REO=47% of actives are~distressed sales. 

We closed 281 escrows in the last 30-days at July’s closed pace we would have 6.9 months inventory.

Broken down to areas it looks like:

Acton /Agua Dulce 15~months inventory

Canyon Country 6~months inventory

Castaic~6.8 months inventory

Newhall~11 months inventory

Saugus~5 months inventory

Stevenson Ranch~4.5 months inventory

Valencia~4.5 months inventory

The calculation was derived calculating the last 30 days closed activity in that area divided into the active listings in that area as of today.

• Stevenson Ranch….. 122~active….. 14~are short pay… = 11%
• Stevenson Ranch…….127~active…..24~are short pays..= 19%
• Stevenson Ranch ……….129~active…….19~are short pays……= 15%
• Stevenson Ranch………..117~active…….30~are short pay……..= 25%
• Stevenson Ranch………..127~active…….32~are short pay…….= 25%
• Stevenson Ranch………..119~active……36~short pay…6~REO=35%
• ************2% drop in inventory sinceMarch 7th 2008********
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• Valencia………………..447~active….. 101~are short pay..= 22.5%
• Valencia………………..442~active……121~are short pay.=  27%
• Valencia……………………….377~active………133~are short pays.= 35%
• Valencia……………………….368~active………128~are short pays= 35%
• Valencia……………………….363~active………128~are short pays = 35%
• Valencia……………………….362~active……….130~short pay..31~REO=44% 
• ************19% drop in inventory since March 7th 2008***********
• ____________________________________________________
• Saugus………………….357~active…….99~are short pay…= 27.7%
• Saugus………………….334~active……125~are short pay = 37%
• Saugus…………………………300~active………138 are short pays..= 46% 
• Saugus…………………………265~active………118 are short pays = 44%
• Saugus………………………….269~active……..119 are short pays = 44% 
• Saugus………………………….232~active……..104~short pay..32~REO=58%
• ********35% DROP IN INVENTORY SINCE MARCH 7th 2008******** 
• ____________________________________________________

• Canyon Country……….570~active…… 184~are short pay..= 32%
• Canyon Country………..546~active……206~are short pay..= 38%
• Canyon Country…………….504~active……….221~are short pays..= 44%
• Canyon Country…………….491~active……….218~are short pays = 44%
• Canyon Country…………….475~active………..227~are short pays = 47%
• Canyon Country…………….439~active………..201~short pay…54~REO=58%
• ********23% DROP IN INVENTORY SINCE MARCH 7th 2008********
• ____________________________________________________
• Castaic…………………..194~active….. 50~are short pay…..= 25.7%
• Castaic…………………..189~active……55~are short pay….= 29%
• Castaic…………………………..184~active………67~are short pays….= 36%
• Castaic…………………………..169~active………60~are short pays….= 35%
• Castaic…………………………..158~active………55~are short pays….= 34% 
• Castaic…………………………..164~active………59~short pay..25~REO=51% 
• *******17% DROP IN INVENTORY SINCE MARCH 7th 2008******
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• Newhall…………………….266~active… .66~are short pay….= 24.8%
• Newhall…………………….264~active……77~are short pay…= 29% 
• Newhall…………………………..238~active………..82~are short pays…= 34%
• Newhall……………………………234~active……….82~short pays……….= 35%
• Newhall……………………………234~active………..76~are short pays..= 32%
• Newhall……………………………221~active……….67~short pay….27~REO=42%
• *****16% DROP IN INVENTORY SINCE MARCH 7th 2008******
• ____________________________________________________
• Acton Agua Dulce……..158~active…. 19~are short pay….= 12%
• Acton / Agua Dulce…….155~active…..19~are short pay…= 12%
• Acton / Agua Dulce………….144~active…….18~are short pays….= 12%
• Acton / Agua Dulce…………..146~active…….18~are short pays…= 12%
• Acton / Agua Dulce…………..138~active……..15~are short pays..= 10%
• Acton / Agua Dulce…………..136~active…….15~short pay…8~REO=17%
• ******14% DROP IN INVENTORY SINCE MARCH 7th 2008******* 
• ___________________________________________________
• All SCV……………………2,114 active 533~are short pays….= 25%
• All SCV…………………….2,057 active 627~are short pays…= 30.4%
• ALL SCV………………………….1,876~active….691~are short pays……= 36.8%
• ALL SCV…………………………..1,790~active….654~are short pays….. = 36.5%
• All SCV……………………………..1,764~active….652~are short pays…..= 36.9%
• All SCV……………………………..1,673~active….612~short pay…183~REO=47%
• *********21% DROP IN INVENTORY SINCE MARCH 7TH 2008*****

If you’re looking to buy or sell a Santa Clarita home, we can help you. Santa Clarita foreclosure home? Santa Clarita short sale? Santa Clarita resale? We do it all, and have the insight & experience you’re looking for…give us a call @ 661-291-2707 anytime. Our team can help you view homes 7 days a week, and we have a website @ TheScvAgents.com like no other! try our new Santa Clarita Foreclosure Radar! 

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santaclaritarealestateforum August 2nd, 2008

The inventory of homes for sale in Santa Clarita continues to drop. Today, reaching below 1,700 down to 1,692 active Santa Clarita home listings.

Taking a look at the last several months, we can see how this welcomed reduction in homes for sale has played out:

June 2008: 1,840 Santa Clarita Listings

May 2008: 1,946 Santa Clarita Listings

April 2008: 2,014 Santa Clarita Listings

March 2008: 2,085 Santa Clarita Listings

February 2008: 2,182 Santa Clarita Listings

Expect to see this number shrink even more as we head into the fall, thereby reducing the homes to choose from, for the large pool of buyers that are out there house hunting right now - and that pool is crowded right now! The frenzy won’t dry up over fall and winter due to the fact that the type of inventory in large part that will be hitting the market will be Santa Clarita foreclosures, which means competitively priced homes that home buyers will have and are having a hard time ignoring!

If you’re interested in purchasing a Santa Clarita home, or want to consider selling a home in Santa Clarita that you own…contact The Scv Agents Team @ 661-291-2707, or just visit us at TheScvAgents.com!

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santaclaritarealestateforum August 1st, 2008

CLICK HERE FOR THE BEST SANTA CLARITA FORECLOSURE SEARCH TOOL AVAILABLE!

Over at TheScvAgents.com we implemented today’s very best consumer foreclosure search tool on the market here in California.

We hired Foreclosure Radar to provide our customers with the most detailed foreclosure data available. With the new easy search tool, and a little help from us at The Scv Agents Team, you’ll now have access to hundreds of Santa Clarita bank owned homes on the market, and those that haven’t even hit the market yet.

Give it a try - on the right hand menu of this blog, you’ll see the new Santa Clarita Foreclosuresearch tool interface. You can elect to find pre-foreclosures, auction homes, and actual bank owned homes. Many of the homes you’ll find there are actually on the market and for sale, some aren’t. If you ever want more details on a particular home - AND WE MEAN DETAILS…just shoot as an email from the Santa Clarita Foreclosure search tool interface, and we’ll get you back the details within hours.

Enjoy!

The Scv Agents Team

• Santa Clarita Foreclosures
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