Santa Clarita unemployment rate drops .4% in April while housing prices continue to rise.
According to the State of California’s Employment Development Department, Santa Clarita’s unemployment rate dropped to 5.7% during the month of April 2013, down .4% from the previous month. Santa Clarita’s unemployment rate is 3.6% less than the rate for Los Angeles County, which has a 9.3% overall unemployment rate. The statewide unemployment rate dropped to 9% in April 2013, down .4% from the previous month.
Santa Clarita remains on firm economic ground.
According to city sources, Santa Clarita fared much better than surrounding communities in the wake of the so-called Great Recession, which hit businesses and homeowners alike beginning in late 2007, with much of its impact felt for several years thereafter. While many of Santa Clarita residents did feels the recession’s effects, the city remained on solid economic footing throughout.
Fortunately, the Santa Clarita Valley housing market has bounced back along with the employment numbers. Many homeowners are seeing growth in equity in their properties, and home sellers are experiencing multiple offers and selling their homes at or above listing price in many cases. Continue reading How Santa Clarita’s Unemployment Rate Drop Affects The SCV Real Estate Market
Educating yourself about your loan options during the home buying process can save you money and frustration.
A recent Zillow survey showed some interesting statistics about what home buyers actually know (Or don’t know) about obtaining a home mortgage loan. Out of 1,000 current and prospective homeowners, it was discovered that:
- 34 percent don’t know what the term “APR” means
- 31 percent don’t believe it is possible to obtain a home mortgage loan with less than 5% as a down payment
- One in four believe that they must close escrow using the same lender who originally pre-approved them for their home loan
Let’s clarify these home mortgage myths, shall we?
February Real Estate Sales Figures For The Santa Clarita Valley Show An Increase In Property Value For Single Family Homes
According to figures from the Santa Clarita Valley Economic Development Corporation and the Southland Regional Association of Realtors, the Santa Clarita Valley showed an average increase of 5% in single family home values during the month of February.
Median prices for single family homes rose to $379,000 in February from an average of $360,000 in January of this year. Condominium prices also rose slightly in February to an average of $220,000 from January 2013’s high of $206,700.
March Figures Show Agua Dulce At Top Of Pricing Index For Housing
The Southland Regional Association of Realtors reported housing sales figures for the month of March 2013. Valencia had the highest number of new listings at 90 and a median list price of $489,000; followed by Canyon Country with 82 new listings with $400,000 as its price median which is the lowest in the Santa Clarita Valley. Total figures for all of the Santa Clarita Valley for the month of March are as follows: Continue reading Santa Clarita Valley Home Prices Rise While Unemployment Drops
Why it is ALWAYS Important To Hire a Licensed, Professional Real Estate Agent
Even in what’s being called a real estate recovery, there are many distressed homeowners out there who may still be experiencing financial hardship or foreclosure of their home by their mortgage lender. Recently, a Van Nuys woman was indicted on a 36 count felony charge that includes grand theft and the recording of false and fraudulent documents while defrauding over 100 distressed homeowners.
Anna Moskovyan, 36, of Van Nuys used public records to target properties scheduled for tax lien sales by the Los Angeles County Treasurer and Tax Collector’s office. She would then forge grant deeds at the County office to transfer ownership from the rightful property owner(s) to herself. She would then file claims to receive the excess proceeds from the tax sale of the property, and pocket the profits.
Moskovyan would also record dozens of phony mechanic’s liens against the title of the property for contractor work that was never performed. She would then charge financial institutions to “clear” the liens. Continue reading Unlicensed “Agent” Commits Over 100 Counts of Real Estate Fraud
Homes are Selling in the Santa Clarita Valley
It’s true what they’re saying about the real estate market: A recovery is at hand. Higher consumer spending , receding unemployment figures, record stock closings as well as double digit jumps in real estate values in many parts of the country are all great signs of a brighter economic future.
After years of sagging sales and a bottoming out of property values due in large part to what’s now being referred to as the “Great Recession”, we’ve seen a big jump in the Santa Clarita housing numbers.
According to Trulia.com, the average price per square foot for Santa Clarita properties has increased slightly over 15% from the same time last year. Loan applications, which were soft at the beginning of this year, are gaining in volume as buyers come out in force to take advantage of the market with historically low interest rates. With this overall gain in property value, many homeowners once upside-down on their mortgage are once again seeing a return of equity. Continue reading Santa Clarita Real Estate Market Rebound in Full Swing