Shift In Real Estate Market Creating More Opportunities For Buyers

SCV housing prices leveled off in September while interest rates dropped. Is it time to jump into home ownership?

New statistics recently released from the Southland Regional Association of Realtors showed single family home

Team Avalos Real Estate Santa Clarita
Rose and Carlos Avalos

prices leveling off in the Santa Clarita Valley for the month of September.

Home values dropped slightly from $523,000 in August to $515,000, which is not untypical for this time of year. Condo prices held steady, with no decrease month over month between August and September.

This however may create better opportunities for home buyers looking to get into property ownership before the end of the year.

Interest rates still dropping.

Despite rumors of a rise by year’s end, mortgage interest rates continue to fall, and are holding below 4 percent, giving home buyers a continued boost in their purchasing power. As of the date of this article, mortgage rates are holding as follows:

  • 30 year fixed-rate mortgage: 3.83%
  • 15 year fixed-rate mortgage: 3.11%
  • FHA 30 year fixed: 3.50%
  • Jumbo 30 year fixed: 3.62%
  • 5/1 year fixed adjustable rate mortgage: 2.91%

Which home mortgage loan is right for me?

While there are many home mortgage loan types to choose from, your final selection may boil down to your ultimate goals regarding your home purchase, as well as your financial qualifications. The best thing to do to get started is to contact us to find out more about loan options and what you might qualify for price-wise.

We are your choice for Santa Clarita and San Fernando Valley real estate.

Team Avalos are a full service real estate team with the knowledge, experience, and expertise to help you fulfill all of your real estate goals. Whether you’re buying or selling, it pays to give us a call for a no obligation consultation.

 

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