Princessa Estates - Canyon Country Ca

There’s been a noticeable trend lately, especially among first-time homebuyers. Roommates. Frugality. Caution. And, responsibility. We’ve helped quite a few first-time buyers lately purchase Santa Clarita condos, and right after escrow closed, they took to Craigslist, or Facebook, and announced that they had a room to rent out.

Saving Money & Living Comfortably

Maybe it’s from being acutely aware that over-leveraging a mortgage is bad, credit card debt is dangerous, and that the economy isn’t what it once was when they were growing up. Many first-time homebuyers, especially the younger ones, aren’t even “guaranteed” good jobs once they graduate college (no less great ones). They’re more frugal, and cautious. While it may be the right time to buy a condo, and the prospect of jumping into the real estate market with good timing can be exciting, not all of them are counting their future equity just yet. They still want to save money, and not spend money they haven’t earned (see the “using your equity like an ATM card” analogy).

Simple Math

Imagine this scenario. The average Valencia, Ca condo for sale is approximately $270,000 as of today. You’re a Santa Clarita first-time homebuyer who scrounged up a 20% down payment. Perhaps a family member, or parent is helping with the down payment. Let’s drill down a few more details:

• $270k purchase price
• 20% down payment ($54,000)
• $216,000 30 year conventional loan at 4% interest
• property tax at 1.25%
• Equals Monthly Payment = $1,312

Make no mistake about it. The Santa Clarita real estate market is hot right now. I want to talk sentiment. Not so much boring statistics, which I’ll share a few. Frustration, optimism, and anxiety. I’d say that summarizes what we, as real estate agents in Santa Clarita, have been working with as of late.

Frustration

Buyers shopping for a home in Santa Clarita, don’t have it on Easy Street lately. Do you ever go to the store to buy some avocados, and they only have a handful to choose from? We all like to pick those things up, see which are the most dark green, how hard or soft they are, and to analyze the size of each. It can be frustrating to have a limited selection. When it comes to homes, albeit a much more important buying decision that an avocado, homebuyers prefer the same thing. Supply! And that’s exactly what the Santa Clarita real estate market lacks right now. In fact the supply of homes for sale in Santa Clarita is currently at 610. All the other homes “for sale”…well, they are in escrow. Under contract. Not available. There’s over 1,000 of those.

37.9%

That’s the percentage the inventory of homes for sale is down from March 2011, to March 2012. Yep. That’s a huge decrease. Why the inventory is down so much, can’t be blamed on any one thing. There’s multiple reasons.

Here’s just a few reasons:

• Banks are still delaying foreclosure, and making some efforts to keep more people in their home (ie modifications, etc)
• Some homeowners who’ve weathered the storm that was the real estate crash, might have found a way to stay in their home, instead of putting it up for sale amid renewed optimism (though tempered) in the economy
• SO many homes have already been foreclosed on and or short sold over the last several years and now have new loving homeowners in them
• Investors are back! And they’re gobbling up properties by the dozens in some cases, to rent out, and hold onto
• While there is a return of the move-up buyer, with prices being so low right now, many other homeowners aren’t putting their homes on the market, and many won’t until we see another jump in prices, or significant improvement in the economy where significant job hiring and job transfers become commonplace

Optimism

While some buyers still have the upper hand in certain price ranges here in Santa Clarita, sellers have the upperhand in many others. Especially if they’re realistic and have the ability to price their home fairly. If they can and do, multiple offers will probably be had, in this low inventory environment. That’s music to any sellers ears. It’s also great news to homeowners who can’t wait to see the value of their home increase after the beating that’s taken over the last several years. Pricing for the most part, is either flat or increasing in most Santa Clarita areas – though in very small percentages. Single family homes in Santa Clarita posted a 0.6% gain in median price from March 2011 to March 2012. Condos haven’t posted a year over year gain since April 2011. Those will probably mimic the gains of single family homes, in due time.

Anxiety

“Don’t panic, we’ll find a house!” Not always calming words to our buyers on a time-crunch. They’re worried they’ll have to settle on a home. They’re worried they won’t get the best deal, because of that. It’s a big ass purchase anyways – who doesn’t get a bit of anxiety as an aside? I get anxiety when I buy a TV. I can only imagine how our clients who “have to move before registration starts at school” must feel. Sometimes I feel like a therapist. That’s the life of a real estate agent though. Sometimes we pick up dog do-do before a showing, sometimes we negotiate contracts, and sometimes we talk the panic attacks out of our clients. We’ve all been hoping (us in the biz), that the inventory would increase to a more balanced level in 2012. That hasn’t happened yet. Until then, buyer anxiety will remain a fact of life. For buyers, and their agents.

If you’re in the market to buy a home in Santa Clarita, you don’t have to fall victim to frustration, or anxiety. Work with a great real estate agent. A good one, versus…well, the alternative, can do wonders for your mood, and mental health in the midst of the biggest decision of your life.

HOW YOUR SANTA CLARITA REAL ESTATE PROFESSIONAL CAN ASSIST IN YOUR DIVORCE

By David E. Rickett, Esq.

The Reape-Rickett Law Firm

25152 Springfield Court #100, Valencia, CA 91355

(661) 288-1000

http://divorcedigest.com

As many of you may know, being in Court with any type of legal case can be a long and time – consuming ordeal. Recently, the Los Angeles County Superior Court’s budget was drastically reduced. This means the judicial system now must operate with the ever increasing case loads with fewer clerks, longer lines, and fewer judicial officers. All this means is that until the “new machine” is up and running (which could take some time), it may be even longer before it is a “well oiled machine”. In a divorce case, it is no different. However, there is a great way to avoid all this bureaucracy – and that is to Mediate your case. You will never step foot into a courthouse when you mediate your case. Having mediated many cases, it is by far less expensive, less time consuming, and allows you to be a participant in winding up your case as opposed to being a spectator. It also allows other professionals to be involved in the case without going through all the formalities of a subpoena and a legal proceeding. This is where your realtor can assist. In many cases , the house, or houses, are by far the largest assets in the case. Being one of the largest assets in a case can also mean it is one of the most difficult issues to resolve. This is where the Realtor comes in. They can guide the parties as to what the going market value is for your house. What you could expect to sell your house for in today’s ever – changing market and the expected time line involved. They can even guide you to find additional values with minimal improvements so you are able to sell your home for top dollar. Should the house be upside down , they can guide you through a short – sale process and what is to be expected with that undertaking. The wonderful part of mediation is that the parties can each bring in their own Realtors if need be to discuss the dynamics of all the options on the table as to how to dispose of your biggest asset. To do this through the court system would take an enormous amount of time and money. Through mediation , your divorce can be handled quickly and efficiently ; and with the assistance of your real estate professional , the value of such a service increases immensely. Should you know of anyone going through or about to go through a divorce, custody, support, or property dispute , be sure to let them know they should give mediation a chance first before running off to court.

Well, it’s sort of true. As of today, April 3, 2012, there are exactly 64 condos and townhomes for sale in Santa Clarita that are regular sales. Meaning, standard sales. Which also includes bank owned foreclosures. Or, if I must clarify further, sales that aren’t short sales.

SIXTY FREAKIN’ FOUR?

All we hear about lately is the low inventory of homes to choose from in Santa Clarita. And this proves it! While prices haven’t started a noticeble upward trend valley-wide (yet), and we still have yet to see how the busy part of the real estate season will affect the inventory levels, it’s quite obvious that it’s a great time to sell your home in Santa Clarita, if selling fast and getting top-dollar, is important. It’s also clear, that there’s immense homebuyer competition going on, struggling over a lighter inventory to choose from. This short list, of 64 condos and townhomes for sale in Santa Clarita includes attached homes ranging in price from $80,000, up to $375,000.

What’s The Active Inventory Like Including All Other Sales?

If I perform a home search for condos and townhomes for sale in Santa Clarita and include short sales, and all other sales, including the two 55+ for sale communities in Santa Clarita…the inventory sky rockets to 224 for sale.

The Problem Is This…

Most homebuyers want, or eventually want, a piece of the 64 listings when shopping for SCV condos or townhomes. They’re fighting for that part of the inventory. Those are the sales (standard sales, bank owned sales) where you know the price is for real. Those are the sales where you’ll typically get a quicker answer to your offer. Those are the sales where you know you won’t wait 4 months or more, to close an escrow. In other words, there’s more certainty. And buyers like certainty. It’s sort of an important purchase, after all.

Sure, Santa Clarita Homebuyers Buy Short Sales Too

The other part of the Santa Clarita condos and townhomes inventory, sell too. It’s just not for everyone. Short sales, are awesome opportunities for homebuyers with no time constraints, where there’s no rush to move from somewhere, and where a homebuyer isn’t the type to get all emotional over a home they could potentially wait months simply for an answer to their offer. For the patient, and unemotional…they can be great deals! The good news, is there’s plenty of short sales to choose from and less competition from other homebuyers for them in general, compared to standard sales.

Need A Good Real Estate Agent?

Maybe Santa Clarita short sales are right for you when buying your next home? Perhaps…they’re not! Let’s talk about it. Call on us here at The Robert and Brian Team. We’ll help you navigate the waters of the Santa Clarita real estate market.

Verify Verify Verify! Just a word to the wise, when shopping for a Santa Clarita home that falls within an HOA where there’s monthly or quarterly dues.

Sure, you see the HOA dues listed in the MLS, where the listing agent stated what they are for your information. However, you should take it as possibly imperfect information that, needs to be verified.

Here’s an action plan for the average Santa Clarita homebuyer regarding figuring out the HOA dues…

Who should verify the HOA dues?

Your local Santa Clarita real estate agent should help you verify them.

When should the HOA dues be verified?

Really at anytime interest in a home or community is expressed, but especially before making an offer on any one particular home.

How can the HOA dues be verified?

Two ways. You or your SCV real estate agent can call the HOA management company directly and ask them about the dues for any particular address. Don’t forget to ask what the dues include! The other way to verify, is to wait for the HOA paperwork once you open up escrow. If you’re the type who thinks that learning about any variance in HOA dues after you’ve opened up escrow, is too late, then definitely figure that out before writing your offer!

Looking for expert Santa Clarita real estate assistance? Contact us here at The Robert and Brian Team!

I’ve heard it many times. Agents telling their buyers, agents telling their sellers, agents telling other agents, that the banks involved on short sales, won’t allow for delinquent HOA dues to be paid out of their net proceeds (paid by the bank). I’m here to tell you, while that is sometimes true – don’t accept it as fact!

We’ve been involved in numerous short sales in the Santa Clarita Valley, and we’ve seen some of the biggest banks out there approve funds to go toward the homeowners delinquent HOA dues balance.

Sure, they won’t always be open to paying for the full balance, but they’re open to it! And when they aren’t at all, it’s often due to the fact that the listing agent and seller got together, under-priced the home, and found a buyer who’s playing along and offered an even lower price for the home. All prices (list price and amount offered), well below market value. Of course the bank at that point will break out their red veto pen and start crossing off items they won’t pay for, when they are entertaining a low offer.

What the HOA has a lien on the property?

We’ve seen it time and time again. The HOA is willing to take less than the lien amount typically, and will negotiate with what all parties are willing to bring to the table (generally what the bank will give them). Recently we were involved in a short sale where the HOA lien on this Santa Clarita condo exceeded $2,100, and the bank was willing to pay the HOA $980. Well, instead of the home getting foreclosed on, and in order to get a new homeowner in there who’s going to START paying their HOA dues, the HOA accepted the $980 as payment in full for the balance owed, and released the lien.

What should you do?

That depends? Are you buying a Santa Clarita home that’s a short sale, and it falls within an HOA? Ask your agent who’s representing you, prior to writing your offer, to find out if there are delinquent HOA dues that will have to be dealt with. Are you a seller that would like to short sale your Santa Clarita home? It’s entirely possible you don’t even know what your HOA dues balance is. Hire a real estate agent to short sale your home, who’s willing to go to bat for you, and communicate with the HOA and bank(s) involved effectively, in order to resolve that issue. You don’t want to hire a Santa Clarita real estate agent without experience. The last thing you want to do when in a financial hardship (reason for short sale), is pay for those delinquent HOA dues by yourself, or ask the buyer to pay them. That just opens the door, to the transaction falling apart, and potentially, a foreclosure instead of the short sale.

Contact The Robert and Brian Team to discuss short selling your Santa Clarita home! 

The Santa Clarita real estate market has been abuzz with good news lately. Optimism is in the air among homebuyers, real estate agents, and yes, even some homeowners.

According to the Southland Regional Association of Realtors, February 2012 represented the fifth consecutive month of year over year increased home sales. In fact, there has been an increase just about every month dating back to June 2011, except for one where there was just a minor decrease. February 2012 posted a 39.4 percent increase in closed sales versus February 2011. This is great news!

What’s Better Than That?

A bit of bittersweet news, is that condo sales specifically in the Santa Clarita Valley were up only 3.8 percent year over year in February 2012. While that’s a lackluster figure compared to the 19% increase posted by the single family homes category, it’s quite obvious that there’s pent up demand in the Santa Clarita condo market that’s being caused by the fact that so many would-be FHA borrowers can’t buy in many of their preferred condo communities since many aren’t FHA approved at this time.

Over the next 12-24 months, we should see quite a few condo communities in the Santa Clarita Valley come back on-line as approved options for SCV condo hunters utilizing FHA insured financing. There’s demand there, just not a lot of inventory. That’s somewhat of a fixable problem, and one that should work itself out, over time. That’s the good news. The bad news is, quite a few first-time homebuyers, despite low prices and low mortgage interest rates, may not be able to enter the market just yet if they were relying on getting an FHA loan. While there’s certainly options out there, there’s just not a ton. And therefore, many wouldbe homebuyers may decide to rent for 6-12 more months and entertain the idea at a later date.

Not Out Of The Woods Yet!

We might yet see further price declines, but as we get closer and closer to a better real estate market, declines will be much more localized as other nearby communities or housing tracts post no declines or even some gains in pricing. The biggest downward pressure that remains on pricing is the inventory of bank owned foreclosure homes and the amount of homeowners who decide to short sale their home. As soon as the vast majority of those homes are filtered out, and we return to a Santa Clarita real estate market dominated by standard sales where homeowners have equity in their home, this concern will remain on the radar.

Buy Vs Rent?

It’s the questions that’s being asked a lot more lately by just about everyone who currently rents or lives with family. With affordability of owning a home being at an all-time high, and potentially being less expensive than renting in some areas, it’s something many are considering. A recent CNN Money Article reviewed this topic well, click here to read.

Quite a few price reductions took place today at Valencia West Creek, by Lennar. MLS records show that a total of 12 homes in the West Creek inventory were reduced.

Is this the right time to buy a new home in Santa Clarita?

It feels as if winter hasn’t happened, with the weather we’ve enjoyed so far here in January 2012. Soon, though, it will be spring, and with spring, comes the larger pool of homebuyers. More homebuyers means less stress for sellers – in this case the home builders. If you’re in the Santa Clarita real estate market for a home right now, it may be the right time to wheel and deal, for a brand new home. Ask for more upgrades and builder options. Get a closing cost credit. Get HOA dues credited for some amount of time. We have ideas. Call us. Wink. Wink.

New homes in Valencia, Ca

Take a look at these new home listings in the Valencia West Creek area, built by Lennar. Below is a list of all homes, currently listed for sale in the MLS within the West Creek area. See something you like? Give us a call here at The Robert and Brian Team. We can help you!

Showing properties 1 - 12 of 12. See more Valencia West Creek community real estate.
(all data current as of 5/22/2012)

1. $245,000 : 28554 Herrera Street, Valencia
   
   2 beds, 2 full, 1 part baths

   Home size: 1,408 sq ft
2. $270,000 : 28483 Herrera St, Valencia
   
   3 beds, 2 full, 1 part baths

   Home size: 1,660 sq ft

   Lot size: 2.16 ac
3. $399,900 : 28383 Esplanada Drive, Valencia
   
   4 beds, 3 full baths

   Home size: 2,003 sq ft

   Lot size: 5,291 sqft
4. $269,962 : 28567 North Herrera Street, Valencia
   
   2 beds, 1 full, 1 part baths

   Home size: 1,440 sq ft

   Lot size: 1.61 ac
5. $459,800 : 24280 La Montura Drive, Valencia
   
   4 beds, 2 full, 1 part baths

   Home size: 2,540 sq ft

   Lot size: 5,000 sqft
6. $458,500 : 24308 La Montura, Valencia
   
   4 beds, 2 full, 1 part baths

   Home size: 2,500 sq ft

   Lot size: 5,000 sqft
7. $467,490 : 24421 Madrazo Lane, Valencia
   
   5 beds, 3 full baths

   Home size: 2,554 sq ft

   Lot size: 5,000 sqft
8. $338,000 : 28280 N Via Sonata Drive, Valencia
   
   3 beds, 2 full, 1 part baths

   Home size: 1,782 sq ft
9. $449,000 : 28463 Marques Drive, Valencia
   
   4 beds, 2 full, 1 part baths

   Home size: 2,806 sq ft

   Lot size: 5,227 sqft
10. $418,490 : 28339 Esplanada Drive, Valencia
    
    4 beds, 2 full, 1 part baths

    Home size: 2,003 sq ft

    Lot size: 5,000 sqft
11. $400,000 : 28822 Montview Court, Valencia
    
    4 beds, 3 full baths

    Home size: 2,236 sq ft

    Lot size: 4,986 sqft
12. $464,286 : 24333 La Montura Drive, Valencia
    
    4 beds, 2 full baths

    Home size: 2,540 sq ft

    Lot size: 5,000 sqft

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Zillow Neighborhood Advice Screenshot

Zillow has rolled out something cool, and really beneficial for those thinking about moving to a new neighborhood or area. If you’re thinking of relocating to the Santa Clarita Valley or just a different part of it, then consider asking a Facebook friend who’s most familiar with the area.

With Zillow’s new Neighborhood Advice tool, you can now connect your Facebook account with your Zillow account. When searching potential areas to move to, or honing in on that one you’ve had your eye on, you can take a look at which of your Facebook friends are familiar with that area. And via a link that says, “Ask For Tips,” you can privately message your Facebook friend to get their opinion or advice on the neighborhood particulars.  Zillow Neighborhoods take the Facebook check-ins of your friends, and other data collected, to formulate which of your friends are most familiar with the area you’re searching.

This will be extremely useful for those of you thinking about relocating to the Santa Clarita Valley. You’re probably not very familiar with Santa Clarita and it’s various neighborhoods, however you may have some friends that are.

Usually friends like to chat about what they like, and don’t like about neighborhoods. This is an excellent option for homebuyers and those simply relocating to Santa Clarita who may rent. Realtors are sometimes perceived to be bias, or out for a quick buck (damn Realtors), so this opens up the door for the consumer to easily ask their friends for their thoughts in addition to that of an agent.

Zillow has created the perfect way to give consumers more options in real estate and lifestyle searching.

Don’t have friends? (or Faceook?)

We’re here to help the friends of the friendless. As local Santa Clarita real estate experts, and, having lived in the Santa Clarita Valley for a combined 60+ years, us guys at The Robert and Brian Team are well positioned to give you some excellent insight into this great place…the SCV! Contact us anytime @ 661-964-1760 or just shoot us a note here.

PS.. while we’re on the topic of Facebook (sorta), please LIKE our page! (shameless we are)

If you’ve been involved in the Santa Clarita real estate market over the last several years, you may have been involved one way or another, in short sales. Santa Clarita short sales are a fact of life, in the local real estate market, and they’re here to stay for some time to come.

If you’re thinking about pursuing homes for sale that fall into the short sale category, then there’s something you should know: The price you see – the asking price – will not likely be the end price that you pay. In other words, it’s bullshit BS.

Why?

Well, “Why?” is a great question. So, here are 4 Reasons Why That Santa Clarita Short Sale Price is Probably BS! But first, keep in mind, short sales can represent the perfect opportunity for the savvy homebuyer, who, by the way, happens to employ an even savvier real estate agent.

Without further delay… Reasons

#1) Quick offer needed! It’s a short sale, that means it’s most likely somewhere near, in the middle, or towards the end of the preforeclosure process. The seller needs an offer. And, they need it stat, before they get foreclosed on. Can you think of one simple way to get an offer in quicker than you can say, “SOLD” ? That’s right! Price it on the cheap! Screw comparable sales. This is a short sale baby!

#2) There is no equity! The seller isn’t walking away with a dime, they’re upside down on their mortgage – hence – the short sale. Where it’s priced at times, is irrelevant. At least that ‘s the background of some typical psychology with these types of sales.

#3) Out of area agent, beware! There ‘s no doubt that going through a rough financial time, means one is more likely to turn to close friends or family, when in need. People facing a short sale of their home, are no different. Time after time, I see short sales in Santa Clarita listed by out of area agents who have little to no experience selling homes in the SCV. These agents might be family, or friends of the seller. Doing a favor, even. It’s certainly allowed, and they are licensed to do so. The point here is, they don’t necessarily have a “local” reputation to uphold, and as such, if they price the short sale too low, well, oh well! They won’t be doing business in that neighborhood in the future, and have to answer for selling a house below market value to an inquiring neighbor. More often than not, they just don’t have the local expertise to price homes for sale properly.

#4) Bank wants market value! In the end, the bank will only accept a number that makes them happy. More often than not, that number will be based on an independent BPO (Broker Price Opinion), or a real appraisal. When one of those reports gets back to the bank that your $300,000 offer is $35,000 below the real market value of $335,000, then you’ll likely receive the dreaded counter offer phone call from your real estate agent.

Don’t fret, just yet. Short sales can be a super value. It’s true! Working with the right agent, and having a game plan, can make these types of sales totally manageable, and worth the effort. A good agent can tell the short sales that are possible, from those that probably aren’t. First, though, you must check yourself…do you have patience? What about thick skin? Because pursuing short sales, you’ll definitely need some of those traits! If you’re the type to weep with happiness the moment you step foot in a home, then, you’re probably a bit too emotional to go after such sales. On a tight time constraint to purchase a home? Then you’d probably want to steer clear of them, as well. Short sales, can definitely toy with your emotions.

Hook-up with a savvy real estate agent, pack your patience, and go after those short sale deals if you think you’re a candidate to do so. Just don’t forget the 4 Reasons Why That Santa Clarita Short Sale Price is Probably BS!