This Is So SPOT On Right Now!

 2021 Real Estate Myth Buster 

Some Highlights

• There are a lot of misconceptions about buying or selling a home today, making it challenging to know exactly how to navigate the current real estate landscape.
• Here’s a little clarity when it comes to 5 common myths about the 2021 housing market.
• Let’s connect to discuss your needs and so you can decipher facts from fiction in our local market.

It's a Double Edged Sword All Right!

So, the long awaited Newhall Ranch, now called Five Point, project is finally getting some models opening fairly soon!

Santa Claritans have a couple different opinions on this new housing development. Actually, on all new housing developments.

It's either, "we already are over-crowded" or "we need more homes for people to live in that are affordable".

As a Realtor, I fall into the 2nd category all the way. I see what the shortage of housing is doing to home prices. I know, from 19 years of helping people with their Real Estate needs, that we truly do need more homes to cut back on this astronomical price appreciation so that buyers can actually buy a somewhat affordable home. Santa Clarita still is one of the more affordable cities in Southern California!

We have always had a few new construction homes floating around, but with this one popping up, it's time for this bold reminder:

IF YOU WANT REPRESENTATION THAT IS OTHER THAN THE BUILDER HELPING YOU BUY A NEW CONSTRUCTION HOME.....I MUST GO WITH YOU TO THE VERY FIRST VISIT AT THEIR MODEL HOMES....NO EXCEPTIONS.

Okay, now, lookie here from Lennar:

One other thing to keep in mind, told to me by a Five Point mucky-muck......every home will have a Mello-Roos additional Property Tax. Every single one. How much, this is what I don't know just yet.

These models are supposedly coming in April. 

If you want to go look with me, send me a message!

~ Lauren Witz Greber ~ www.KeepYourWitz.com ~ Lauren@KeepYourWitz.com ~

~ (661) 313-5470 ~

Sold Before Processing!

 What the heck does that mean? It means that an agent had the listing, and got a buyer in before it went on the public MLS.

A couple of different ways that can happen. Someone in the same brokerage had a buyer. The listing agent had a buyer. The seller requested it to be excluded from the MLS. Hopefully it wasn't released to a network group without the Sellers authorization to do so. That's a big no-no & I am pretty sure I wrote a blog post about it in the last year or so.

I was talking with one of my peers yesterday and we both mentioned that we'd seen quite a few of them lately. It's more common when inventory is low to share with a 'friend' to get a leg up on the listing before that entire public does.

But, is that fair to the Seller? Right now, buyers are in a bit of a frenzy to buy a home. I put a home on the market on Thursday. Showings started Thursday and went through Sunday. Due to COVID, my Seller had to be out of the house so they stayed with a friend for a few days. 

A total pain in the butt, indeed. Was it worth it? YES! We got multiple offers and the amount over list price with no appraisal contingency, totally worth it.

So, if you're a Seller, and are annoyed/dismayed by the thought of a bunch of people coming into your home. Know this.....you are probably giving up some extra cash by doing so.

Life can be a total pain in the rear at times, with many different things. COVID is a total pain, but there are precautions taken, and I tell all my sellers clean the heck out of your home before and after people come through......because old habits, of touching things, die hard.

So, off my soapbox for today. Strongly recommend you release your home to the public so everyone has a chance to view & you have the opportunity to make the most amount of money.

~ Lauren Witz Greber ~ Lauren@KeepYourWitz.com ~ (661) 313-5470 ~

Certainly NOT The Pantone Colors of 2021!

I follow a lot of home decorating people on Instagram. I share periodically with my social media pals the ones that I'm drawn to as well as the ones I just don't get at all for fun!

I've noticed a few with really dark colors. One color in particular. I've seen it on exterior of homes, in other states Realtor feeds, and on my decor peeps that I follow on Instagram. It's a great photo scrolling place to see what's out & about.

I honestly don't even know what this color name is, but, it's pretty dramatic. I wouldn't suggest painting anything this color unless the home is really large or you're staying put til the next time you feel like painting.

Dark colors shrink everything you put them on. Make for mood changes. Reduce light reflection. Great for a music room where you want to be quiet, small, and moody though!

I grabbed these dark home photos off several different pages (although they seem to interchange sometimes) so I don't think it is the same house.

Anyone know what the color name is? Is it green? Charcoal? Just curious as I'd never feel like using it in my personal home.

What cha think?

High Home Prices, But Crazy Low Mortgage Rates

How Upset Should You Be about 3% Mortgage Rates?

Last Thursday, Freddie Mac announced that their 30-year fixed mortgage rate was over 3% (3.02%) for the first time since last July. That news dominated real estate headlines that day and the next. Articles talked about the “negative impact” it may have on the housing market. However, we should realize two things:

1. The bump-up in rate should not have surprised anyone. Many had already projected that rates would rise slightly as we proceeded through the year.

2. Freddie Mac’s comments about the rate increase were not alarming:

“The rise in mortgage rates over the next couple of months is likely to be more muted in comparison to the last few weeks, and we expect a strong spring sales season.”

A “muted” rise in rates will not sink the real estate market, and most experts agree that it will be “a strong spring sales season.”

What does this mean for you?

Obviously, any buyer would rather mortgage rates not rise at all, as any upward movement increases their monthly mortgage payment. However, let’s put a 3.02% rate into perspective. Here are the Freddie Mac annual mortgage rates for the last five years:

• 2016: 3.65%
• 2017: 3.99%
• 2018: 4.54%
• 2019: 3.94%
• 2020: 3.11%

Though 3.02% is not as great as the sub-3% rates we saw over the previous seven weeks, it’s still very close to the all-time low (2.66% in December 2020).

And, if we expand our look at mortgage rates to consider the last 50 years, we can see that today’s rate is truly outstanding. Here are the rates over the last five decades:

• 1970s: 8.86%
• 1980s: 12.7%
• 1990s: 8.12%
• 2000s: 6.29%
• 2010s: 4.09%

Being upset that you missed the “best mortgage rate ever” is understandable. However, don’t throw the baby out with the bathwater. Buying now still makes more sense than waiting, especially if rates continue to bump up this year.

Bottom Line

It’s true that you may not get the same rate you would have five weeks ago. However, you will get a better rate than what was possible at almost any other point in history. Let’s connect today so you can lock in a great rate while they stay this low.

Just A Few Reminders, But Still Expect A Longer List From Me!

How to Prepare Your House for a Winning Sale This Spring

Some Highlights

• With so few homes available to buy today, houses are in high demand, and they’re selling fast.
• That means it’s a great time to sell if you’re ready to make a move.
• Let’s connect to make sure your house is ready for a top-dollar sale this spring. It may be closer than you think!

Santa Clarita Valley Home Sales Info - March 2, 2021

If you're a YouTube follower of mine, you've noticed I've just been posting in my First Time/Long Time Seller series the last few weeks so I figured I'd better get on it with a blog post here about the sales activity in our bee-u-ti-ful Santa Clarita!

Acton to the East, Stevenson Ranch to the West, Castaic to the North, and Newhall to the South...plus all the other communities they surround!

The coming soon category seems to be growing a bit. We currently have 31 homes/condos/townhouses in that grouping today. Those are the homes that the Sellers aren't quite ready to go on the public market, or we've chosen to use it as a strategic marketing tool to drive interest when it finally does. Ask me about it when we list your home!

The active properties available for sale match this Volvo model number!

Anyone know what model number it is?

We have a lot under contract! I mean, a lot! 555! I'd have to really look in detail, but I'm betting we have many that are in contract waiting for Sellers to find a replacement property. That's always a drag for both Buyers & Sellers!

Sold in the last 30 days? There were 293 properties that closed escrow in the prior 30 day period. Normal is what? Do you remember what I always say? 😉 We are about 10% lower than normal right now.

So, there ya go. Stupid low inventory, about a 2 week supply. A balanced market is more like 1000 homes available for sale in SCV.

Questions about the market, where I think it's going, how you should handle it? Just holler.

Oh, and the Volvo model number is 1.....6......4 

Lauren Witz Greber ~ Witz Real Estate ~ Lauren@KeepYourWitz.com