Category Archives: Santa Clarita Real Estate

Median Price of Single Family Homes Already On The Rise In 2016

Santa Clarita Home Prices Take a Sizable Upswing In January

Last year, there were some experts and analysts wondering just how long the real estate market could continue to rise. There were definitely rumors of changes in light of What is your home's value?interest rates being raised by the Federal Reserve at the end of last year.

January is usually a very slow month for real estate. Many buyers and sellers are recovering from the holidays, and it's usually not at the forefront of the "to do" list. Typically, we see a slight drop in home values between December and January. For example, last year January saw a $15,000 drop in home prices from December of 2014. At the beginning of 2013, home prices dropped nearly $40,000 in one month. You get the picture, right?

However, this January saw single family home prices actually JUMP by $12,000 over December's closing price of $518,000. That's right. TWELVE THOUSAND IN ONE MONTH!

How is this happening in what's normally a slow month for real estate?

For one, mortgage rates are still dropping. That's right! We've seen them go down almost half a percentage point in recent months, and currently (As of the date of this post), rates for a 30 year fixed rate mortgage are at the nearly historic low of 3.64 percent. Qualified buyers can get a 15 year fixed rate home loan for just UNDER 3 percent.

If that's not motivation to get "off the fence" and find your dream home, then what else is there?

Continue reading Median Price of Single Family Homes Already On The Rise In 2016

Interest Rates Went Up…But They Didn’t Go Up!

A big deal was made out of the Federal Reserve raising rates last month, so why are they still at historic lows?

It was one of the biggest “hold  your breath” moments in the financial community. They said it was coming all year long. What would happen when it Mortgage applications on the rise in 2015did? Would it change the mortgage and real estate industry as we know it? Are the good times over?

Yes, we’re talking about the Federal Reserve finally following through on a promise they’ve been making for quite some time: The raising of interest rates. Now, when we discuss raising rates from a Federal Reserve standpoint, we’re talking about the rate lenders pay the Federal Bank to borrow money at what would be in laymen’s terms, a “wholesale” rate. For the first time in nearly a decade, the Fed bumped their rates a quarter percent.

So what are interest rates for home buyers today?

As of the date of this article, rates for a 30 year fixed-rate mortgage stand at 3.98 percent*, which is a near record low. If you want an even lower rate, shoot for a 15 year fixed-rate mortgage, which is holding at just 3.15 percent.  Continue reading Interest Rates Went Up…But They Didn’t Go Up!

Home Prices Hold Steady Through August

Santa Clarita holding its own in housing sales.

As summer sizzled its way through August, the SCV saw only a slight uptick in overall median housing prices, holding at $468,600, rising $4,000 Overlooking Saugusfrom July. This median level includes all homes, including single family and condominium sales.

Typically we do see an upswing in August from July as it represents the peak of the summer buying season. August also showed less listings and escrow closings than July, with 446 homes being listed for sale, and 415 homes closing.

Of course, even with home prices on the rise, buyers are still finding their purchasing power boosted by interest rates that are still below 4 percent, despite worries that they may rise. That fear was put on hold last week when, after a two day conference held by the heads of the Federal Reserve, it was decided that rates would remain at their current position for a while longer. There are hints that they may rise as early as December, however.  Continue reading Home Prices Hold Steady Through August

SCV Home Sales Up Nearly 20 Percent Over This Time Last Year

Santa Clarita single family homes holding at just over $500K, while condos take a leap forward in July.

Recent statistics released by the Southland Regional Association of Realtors showed home prices holding, with single family homes in the Santa Team Avalos Real EstateClarita Valley at an 8 year high, and condo prices jumping $15,000 from June.

The median price of a single family home in the SCV clocked in at $509,500 for the month of July. Condominiums in the valley are currently at a median price of $330,000.

442 homes closed escrow in July, which is a 16% increase over July of 2014. A total of 546 residential properties were listed last month, with 470 homes opening escrow.

Home Mortgage Rates

Home mortgage rates have dropped once again below 4 percent, holding as of the date of this article at 3.93 percent for a traditional 30 fixed rate loan. Some other loan options have even more favorable rates, including: Continue reading SCV Home Sales Up Nearly 20 Percent Over This Time Last Year

What It Takes To Earn Our Commission

Some owners think a Realtor’s commission is too high a price to pay. Here’s the real story on how we actually earn it.

It’s rare to find a real estate agent who works on a salary. In fact, as far as residential real estate sales goes, they’re practically a non existent entity.

Team Avalos Real Estate Santa Clarita
Rose and Carlos Avalos

Real estate agents (Like us) earn a living through the sale of homes…period. The commission amount usually equals a small percentage of the home’s total selling price that is negotiated between the seller and the agent. Even still, in some homeowner’s eyes that’s a lot of money. So we’ll break it down a bit more for you to show you what (and how) we actually earn when escrow is closed and we hand the keys to the buyer. Oh yeah, we don’t get paid a dime until escrow is closed!

Commission Split Between Listing Agent and Buyer’s Agent

Real estate agents who work with buyers also work on commission, and without this networking opportunity, the number of buyers coming through your home may be extremely limited. Offering a portion (usually half, maybe a bit more, maybe a bit less depending on the situation) of the total commission to an agent who brings a buyer is standard fare in the real estate world.

Okay, we’re down in commission by half…so what?

Marketing Your Listing Continue reading What It Takes To Earn Our Commission

Santa Clarita Home Prices Jump To Over $500K

Median Single Family Home Prices Rise 6% In One Month

Good news for Santa Clarita homeowners! Recent statistics released by the Southland Regional Association of Realtors showed the median price of a Team Avalos Real Estatesingle family home in the SCV rose to $520,000 in March; up a little more than 6 percent from February’s median price of $490,000.

That’s a $30,000 increase in equity in one month!

Are you starting to see why it’s better to own than to rent your home?

Now to be clear, home equity doesn’t jump this much every single month, but year over year, real estate in the Santa Clarita Valley has averaged an increase of over 6 percent since 1998 (The first full year the Southland Regional Association of Realtors provided public statistics). This includes the short term declines in the real estate market during the darkest years of the recent recession between 2008-2011.  Continue reading Santa Clarita Home Prices Jump To Over $500K

Will The Federal Reserve Raise Interest Rates?

Rates have remained low for the past several years, but when should they be raised? And just what IS the Federal Reserve, anyway?

We talk a lot about interest rates, and for obvious reasons. Unless you are paying cash for a home, then they play prominently in just how much home

Fderal Reserve Chair Janet Yellen
Fderal Reserve Chair Janet Yellen

you can afford.

Yes, rates have risen and fallen over the past few years, and today we’re not talking about interest as it pertains to the value of loans that are bought and sold on the stock market (Which can also affect rates); we’re instead talking about the Federal Reserve.

What is the Federal Reserve?

Established in 1913, the Federal Reserve acts as the nation’s bank. They set financial policies and terms that banks and lending institutions follow, and also loan money to those banks at a base interest rate that is below what the consumer would pay. The following video provides a brief and easy to understand explanation of how the Federal Reserve works.

Will interest rates go up?

Good question. Federal Reserve Chair Janet Yellen has more than hinted that it’s possible rates could rise sometime this year. If the Fed does raise the base interest rate, it will definitely affect a buyer’s loan limit or their mortgage payment amount. The best thing to do if you’re on the fence about buying a home is to lock in your rate now.

We are your choice for buying and selling real estate!

Team Avalos Real Estate is dedicated to helping you achieve all of your real estate goals, and our goal is to make sure your experience is positive and achieves the best results whether you’re buying or selling a home in the Santa Clarita or San Fernando Valley areas. Contact us today for a no obligation consultation.

Team Avalos Real Estate
Keller Williams VIP Properties
25124 Springfield Court, Suite 100
Valencia, CA 91355

Office: (661) 290-3743
Carlos direct: (818) 399-4093
Rose direct: (818) 590-2077

Full Name:
E Mail:
Subject:
Message:

The Holiday Season Is Upon Us. So Now What?

Do I buy? Sell? Do Realtors work at all during the season?

There is a misconception out there that the real estate market shuts down between Thanksgiving and the New Year. That agents decide to “take the rest of the year off”, and not bother to Team Avalos works through the holidays to assist your home buying and selling needs.market for new business, or even tend to their current clients.

While this may be true for some agents, it most certainly isn’t true for Team Avalos. We are working hard through the season to insure our clients needs are met, and still meeting with, and working with, both home buyers and sellers.

Which begs the question: Is this a good time to do some real estate business? Are sellers showing their homes this time of year? The answer is a resounding YES! Right now, buyers have such great opportunities to get into the home they want based on less competition from other buyers who may decide to wait until “after the holidays.” Also, interest rates have taken another down turn, giving you incredible purchasing power to get into the home of your dreams.

So what about selling my home? Why shouldn’t I just wait until the new year to list my home?

Continue reading The Holiday Season Is Upon Us. So Now What?

Was Your Home Purchase a Good Investment?

Given the reality of investment growth, real estate overall is one investment you can count on.

Yes, it occasionally has its ups and downs, but otherwise, over time real estate steadily increases in value more so than any other investment with less risk. Of course, the size and type of Is your home a worthwhile investment?investment depends on your own personal (and sometimes) professional needs and desires.

For example, if you plan on moving to a community to purchase a home where you plan on staying long term, perhaps even living there long enough to pay off your mortgage, then the positive growth benefits are without question. Let’s do some math:

15 years ago in September of 1999, the median price of a single family home in Santa Clarita was $224,900. Flash forward to September of 2014, and that home’s median price is $490,000. That’s nearly a 118% increase in your investment.

Conversely, if you bought your home in September of 2013, you will already see an increase of nearly 14% in your investment.

As we mentioned at the start however, the real estate industry occasionally does have its ups and downs. Just like any investment, there is an element of risk. For long term residential investors, your risk is minimized as you’ll ultimately see growth in your equity.  Continue reading Was Your Home Purchase a Good Investment?

Home For Sale In Castaic: 28414 Gibraltar Drive

Beautiful turn key home has 3 bedrooms, 2 baths, and over 1800 square feet of living space!

Team Avalos at Keller Williams VIP Properties is proud to announce their latest listing located at 28414 Gibraltar Drive in Castaic CA.

This is an amazing home, ready for you and your family. Featuring many fabulous upgrades that include hardwood floors, recessed lighting, plantation shutters, dual pane windows, custom paint, just to name a few.

With over 1800 square feet of living space, this home is perfect for you and your growing family. Located in the desirable Hasley Hills area of Castaic, you’ll be only minutes from commuter access to Interstate 5.

The large living room and family room are perfect for family gatherings and entertaining. The family room is pre-wired for surround sound, and also has custom built-in shelving and a cozy fireplace.

As you enter the kitchen, you’ll find plenty of cabinet space along with custom granite countertops, center island, and stainless steel appliances.

Your master suite is complete with a walk in closet, and private bath with dual sinks and separate shower and tub.

The remaining bedrooms are large and perfect for your growing family. They can also be used for home office and flex space.

This home sits on over 7,000 square feet of land, with a large backyard that boasts incredible views as well as a custom built gas barbeque and bar, and gas firepit.

This home is a MUST-SEE, and won’t last long. Contact Team Avalos Real Estate for more information and to schedule a private showing.

Listed at $499,900

Team Avalos Real Estate
Keller Williams VIP Properties
25124 Springfield Court, Suite 100
Valencia, CA 91355

Office: (661) 290-3743
Carlos direct: (818) 399-4093
Rose direct: (818) 590-2077

Full Name:
E Mail:
Subject:
Message: