Santa Clarita California Real Estate Market Update January 2014

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Happy New Year! The real estate market was in a frenzy last year; so much was going on. You might be wondering if that will continue in to 2014.

The good news is the market is beginning to calm. Prices are increasing still, but not as dramatically as they did in 2013. In fact, from May of 2012 to May of 2013 the average increase in price was about 30%. This year we only expect a 6% increase. We ended the year with the average sales prices of $406,000 and expect it to rise to about $432,000.

What about interest rates? We experienced some phenomenally low rates over the past 12 months. Unfortunately, those rates couldn't last forever. Experts are predicting rates to hit 5% and possibly even higher in the 2014 real estate market. This makes now the best time to buy. Borrowing money is becoming more expensive everyday. Don't wait.

We expect to see a lot of move up buyers in the market. Homeowners now have equity and they can move into larger homes.

And finally, unemployment still plays a role in our market. In the state of California, unemployment is at 8.5% which is a decrease from the 12.5% we saw in 2009. As employment levels continue to  improve, we hope the market will improve as well.

If you have any questions about the market or your next real estate move, please give me a call today. Thanks for watching!

Reference: LA Daily News (http://www.dailynews.com)

International Buyers in Real Estate

Welcome back to my video blog! I came across an interesting article the other day about international buyers and their activity in the real estate market in the United States.

Did you know that international buyers spent $68.2 billion in 2012 on real estate in the United States? The average price was $275,000 and 67 percent of the transactions were cash. Twenty three percent of those transactions were from Canadian investors and 12 percent were from Chinese investors.

In 2012, the average sales price for Americans was $179,000 with 30 percent cash transactions. Five states accounted for 61 percent of those transactions: Florida, California, Texas, Arizona and New York.

So what does all this mean? Foreign investors choose to invest and buy in the United States because it is profitable and secure. Now is the time to move into a larger home, buy more properties or invest.

We can help you with that! If you have any questions, please give me a call at 818.898.2255 or send me an email rod@teamrod.com

Thanks for watching!

Santa Clarita CA Market Update August 2013

Hello, everyone. I have with me the Time Magazine “Sky-High Housing: Buildings Up, Prices Up.” This is the magazine from September 1977, the year I started my career.

That title describes much of what is happening in our market now. We’ve had a great year and seen prices steadily increase. They're up 35 - 40%.

Interest rates have increased by about one percent in the past 90 days. It did slow the market a bit, but we are still experiencing a tremendous amount of activity.

Inventory has also consistently increased over the past few months, which gives buyers more of a selection. We are seeing some of the more desirable properties still receiving multiple offers.

If you are thinking about buying or selling, don’t wait. Interest rates may come down a little bit, but they won't drop below 4% again. If you're thinking about buying or selling a home now is the time!

Thanks for watching!