Learn what actually goes into what determines your home’s Fair Market Value.
So you’re thinking about selling your home. Or maybe you’re looking to refinance to lower your payment, or to access your equity. How much do you think your home is worth? What would YOU sell it for?
For some sellers, there’s the difference between what THEY think it’s worth, and the reality of Fair Market Value (FMV). In a way, real property value is not unlike how stocks are bought and sold. Although there are more solid factors that go into the value of a home vs. the perceived value of a piece of paper representing a stock or bond. In any case, as we well know from the past half decade or so, home prices can rise or fall based on many factors. While the economy is always at the top of the list of those FMV factors, available housing inventory for sale, local demographics, and other factors can play into a home’s value as well.
So where do we start?
Continue reading What Is Your Home Worth?
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 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?
November 2013 real estate outlook shows brisk sales for homes across the country.
The real estate market typically slows down over the holidays. Usually buyers and sellers decide to hold off on any decisions beginning from right after Halloween to sometime right after the new year. In a typical market, home listings last through the holidays with few chances of getting large numbers of buyers through the door for preview. This also usually means that homes remain on the market longer.
However, a recent report from Redfin.com showed that over 27 percent of homes in over 23 metropolitan areas across the country had homes on the market for two weeks or less through the month of November. This means that yes, homes sold quickly!
According to the Redfin report, nearly 29 percent of homes in the Los Angeles real estate market (Which includes Santa Clarita) sold in under two weeks in November, 2013. The average “days on market” (The number of days a home is listed for sale before a purchase contract is accepted) in the Los Angeles real estate market in November was 22; up only 2 days from October. Continue reading Homes Sold Quickly During Holiday Season
Holiday season is not off limits to home buyers or sellers looking to close a deal before the new year.
The holidays are here. Decorations are going up, shoppers are bustling about the stores, and there’s a general feeling of merriment in the air. This time of year can serve as a distraction for some, and vacation time for others. Even some real estate agents (Not Team Avalos!) decide to take the entire season off from their duties.
For some home sellers, the dilemma may lie in whether they should take their home off the market during this time of year, fearing that there will be no buyers until after the new year. For others, they may feel that, with holiday gatherings and other holiday-related tasks, it may not be the right time to keep their home open for buyer showings.
The Holiday Season Real Estate Market
It’s important for sellers (And buyers as well) to understand that the holiday season is actually a very good time of year to have your home on the market, for several reasons.
One, there is usually less competition this time of year, meaning that for both sellers and buyers, the holiday real estate market is a great time to put a win-win deal together without having to compete on so many levels with other properties on the market. Continue reading Should I Take My Home Off The Market During The Holidays?
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