OPEN HOUSE SUN. 6/5 from 12pm – 4pm – Come Visit us at 26955 Granite Ridge Court, Valencia, CA 91381!

GORGEOUS WESTRIDGE VALENCIA HOME AVAILABLE! This home is the largest model in the Emerald Tract and highly upgraded! Pure elegance throughout. The front of the home has extensive hardscape, wrought iron, and quaint courtyard with fountain. Through the front door, you enter the foyer. From there you have a den/office, formal living & dining room, large kitchen with butler pantry that opens to a large family room. Full bedroom & bathroom downstairs as well. The upgrades boast granite counter tops, stainless steel appliances, built in refrigerator, marble flooring downstairs, new carpet in bedrooms, and upstairs, fresh paint, crown moldings, plantation shutters, and more! Upstairs are 4 bedrooms & large loft. The spacious master has a large retreat, large bathroom with dual sinks, separate tub, separate shower, and double closets. The Backyard is peaceful with stamped concrete, fire-pit, built in BBQ and patio cover. This home is truly beautiful inside & out. HOA clubhouse, tennis courts, pool & spa, and tot lot.

Great home in Rainbow Glen Estates for lease. This home features 1,862 square feet of living space, on a 7,200 square foot lot. 4 bedrooms and 3 full bathrooms (1 bedroom and bathroom downstairs), formal living room, dining room, family room, and eat in kitchen.

December 9, 2009

(Includes the areas: Stevenson Ranch, Valencia, Saugus, Newhall, Canyon Country, Castaic, Agua Dulce, Acton) 

*The information is from SoCal Multiple Listing Service (MLS) and is deemed reliable but not guaranteed* 

Posted via web from jerod Mayer’s Posterous

December 7, 2009

(Includes the areas: Stevenson Ranch, Valencia, Saugus, Newhall, Canyon Country, Castaic, Agua Dulce, Acton)

*The information is from SoCal Multiple Listing Service (MLS) and is deemed reliable but not guaranteed*

Although the Tax Credit (before it was extended and revamped) had many Buyers entering the market anxious to secure a home and close escrow by the expiration on November 30, 2009, it was the amount of inventory that continued to limit the amount of closed transaction. You’re probably thinking that when the banks release the foreclosure homes things will be different, we will not have enough demand and prices will plummet further. That is definitely a possibility, but I don’t believe it will be the case. From many interactions with clients, agents, lenders, and being in the trenches everyday, I believe that if an increase in REO/Foreclosure homes happen to FINALLY come to the market it would be a good thing for a few reasons:

• It would allow buyers who have been wanting to purchase an opportunity to get their chance
• Banks would be able to liquidate their assets allowing funds/proceeds to go back into the system
• It would free up decision makers at the banks allowing them to put their focus to short sale transactions which would ultimately become quicker and more efficient, and so on…

Touching on the new extension of the tax credit refund briefly, the extension is beneficial because it will allow many new home owners to utilize the benefits offered for the next few months. Furthermore, for the home owners that were hoping the tax credit was extended to them, that is now a reality for some. The new revision extended the benefits to include existing home owners who have owned and occupied a residence  for at least 5 of the past 8 years. There are new income limits as well, so please be sure to check your qualification eligibility. With these changes in place, I am hoping that we see more inventory so that “qualified” Buyers can utilize the incentives offered to them.

Getting back and looking at data for successfully closed transactions  in Santa Clarita for the 2009 calendar year thus far, a total of 2,859 homes have sold and that number continues to increase on a daily basis. Sure, that is a lot of homes sales, but now for the interesting part: Out of that number, 2,387 of those sales have been at or below the $500,000.00 price range, meaning that 472 of the closed transaction were priced at $500,001.00 or more. Now you might be wondering, what I am getting at. Well, taking these numbers into consideration I find it very difficult to say that a bottom in the housing market is nowhere in sight. Does that mean housing prices done sliding? NO, housing prices are not done sliding, in fact, the higher end homes will face more downward pressure than lower priced homes simply because of the limited number of qualified Buyers able to afford them. ** Almost 5 times as many Buyers are able to afford a home priced $500,000.00 or less**. Which leads me to say confidently that we are entering a point where buyers are feeling confident again, and that is the first step!

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The measure, adopted on a strong bipartisan vote of 98-0, also would extend and expand a tax benefit for businesses with losses. The House is expected to follow suit within days, and President Obama is expected to sign it into law.

To keep fueling the real estate rebound, the legislation would extend the $8,000 tax credit for first-time home buyers to April 30. It now is set expire at the end of the month. More importantly, it also would provide a new $6,500 tax break for existing homeowners who want to move up to a new home, as long as they have lived in their current residence for five consecutive years out of the last eight.

The bill also would increase the level of qualifying incomes to $125,000 for individual tax filers and $225,000 for joint filers. Those earning up to $145,000 individually or up to $245,000 jointly would get a smaller credit that decreases as income rises.

The tax credits apply to home purchases of $800,000 or less.

“Every economist will tell you we have to steady the housing market before the economy will turn around,” said Sen. Christopher Dodd (D-Conn.). “We can’t afford to let this tax credit expire now.”

It is paramount for Buyers wanting to purchase in this market to understand and be fully educated on the market. The past and current market trends, competition and knowledge of knowing what to expect when entering a purchase agreement situation should be touched on. Using the Santa Clarita housing market as an example, explaining that there are approximately 607 active listings on the market with about 36% of the listings being short sale listings is significant. Why is this important? This means that very few homes are likely meet your desired criteria, few homes will fall within the areas you might desire, and if you find a home that does, it will likely have multiple offers submitted on them. Additionally, a large number of the short sale listings are unable to be purchased within a normal 30-60 day escrow period. Furthermore, this type of market has been around for most of 2009 and signs indicate that this market will be here through 2010.

With that said, is it wise for buyers to intentionally miss an opportunity. Especially one that initially didn’t work out, and then happened to fall back into their lap? This answer will be different for everyone, and it depends on the individual home Buyers perceptions of the market. However, deliberately missing an opportunity after the potential outcomes are clearly explained, is a mistake. To make the situation worse, deciding to agree to the Sellers original terms offered after loosing the home to another Buyer in hopes of saving the deal is an even bigger mistake.

Honestly, if Buyers understand the housing market activity, have lost other housing opportunities, watched home prices increase, and don’t see that things will turn in their favor, then “YES” make a decision to secure that home.