If you’ve been “on the fence” about selling, now is a good time to take advantage of the real estate market.
2013 has been the best year in real estate since before the recession hit the market hard just over 5 years ago. With sales figures reaching double digit percentages over last year coupled with a national economy in full recovery, all signs point to continued good news for the 2014 real estate market.
In the past few years, we’ve encountered many home owners who have considered selling, but have sat “on the fence” for various reasons. Mainly, they wondered if they could get top dollar for their home. If you are considering selling your home for any reason, here are three great reasons why you should get more serious about your decision in 2014:
1. Housing inventory is low.
One thing that has driven the housing sales boom in 2013 was low inventory…too low, actually. There were certain times during 2013 where the Santa Clarita Valley sat on less than a 30 day “supply” of available residential real estate for sale. As it stands now, the SCV only has about a 45 day supply. A good, healthy real estate market in any community will have enough housing to make up about a 6 month supply. In the Santa Clarita Valley, a 6 month supply equates to between 1200-15oo homes on the market.
Either way, even through the holidays, housing for sale has been scare in Santa Clarita. Many home sellers have experienced multiple offers from buyers, putting sellers in the driver’s seat as far as dictating pricing and terms. This is still the case as we head into 2014.
2. Mortgage interest rates are still low.
Even though rates have crept up about a percentage point in 2013, they are still in the four percent range, which is still much lower than the historical average of just over seven percent. Buyers are taking advantage of the purchasing power these rates provide them, and are out in force looking for a home just like yours.
3. Housing prices have rebounded and are on the rise.
Have you noticed that your property value has increased lately? Equity sales now make up nearly the entire housing sales market in Santa Clarita, which has helped boost property values across the valley. No matter what your reasons for selling, whether it’s to move up, downsize, or to consolidate your assets, you may be surprised to find out what your home is worth.
Contact Team Avalos for a free, no obligation Comparative Market Analysis (CMA) and find out what your home is worth.
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