Curious About Santa Clarita Home Sales? Read On!

Still pretty robust, remember that from last month? And, an uptick in inventory too. Don't get excited, still crazy low, but Hey, I'll take any increase I can get!

Reminder, I use Acton, Agua Dulce, Canyon Country, Saugus, Valencia, Newhall, Stevenson Ranch, & Castaic (including Val Verde) for my calculations.

Currently we have 31 in the Coming Soon category...honestly 2 of them are mine!

Active? We have 259. Miserably low, but it's 20% higher than last month!

In escrow is about the same ~ 547 ** Closed in the last 30 days ~ 407

I've been extremely busy this last 18 months. The last 6 has been remarkable. Thankful for the team of affiliates I have to assist me with my clients. And, thankful for a pretty decent group of agents on 'the other side' of the escrow. Well, one was awful, but we worked through it.

Just hoping the increase in inventory continues. Hopefully, a bit gradually, we see less of the wicked appreciation. 

Cheers to those that battled through so far! Cheers to the Sellers that have moved happily on. Extra Cheers to the Buyers that found their dream home amidst multiple offers, overbids, and more.

I'm here to help in any way. Whatever my peeps need, I'm their girl. Well, maybe woman now since I'm not coloring my hair anymore? 😉

As of This Moment, STILL the 5 Things Buyers Need To Know!

5 Things Home Buyers Need To Know When Making an Offer

When it comes to buying a house, you’re looking for the perfect place to call home. The problem is, in today’s market there just aren’t that many homes available to purchase. With inventory hovering near record lows and sky-high buyer demand, a multi-offer scenario is the new normal. Here are five things to keep in mind when you’re ready to make an offer.

1. Know Your Numbers

Having a complete understanding of your budget and how much house you can afford is essential. That’s why you should connect with a lender to get pre-approved for a loan early in the homebuying process. Taking this step shows sellers you’re a serious, qualified buyer and can give you a competitive edge in a bidding war.

2. Brace for a Fast Pace

Today’s market is dynamic and fast-paced. According to the Realtors Confidence Index from the National Association of Realtors (NAR), the average home is on the market for just 17 days – that means from start to finish, a house for sale in today’s climate is active for roughly 2.5 weeks. A skilled agent will do everything they can to help you stay on top of every possible opportunity. And, as soon as you find the right home for your needs, that agent will help you draft and submit your best offer as quickly as possible.

3. Lean on a Real Estate Professional

While homebuying may seem like a whirlwind process to you, local real estate agents do this every day, and we know what works. That expertise can be used to give you a significant leg up on your competition. An agent can help you consider what levers you can pull that might be enticing to a seller, like:

• Offering flexible rent-back options to give the seller more time to move out
• Your ability to do a quick close or make an offer that’s not contingent on the sale of your current home

It may seem simple, but catering to what a seller may need can help your offer stand out.

4. Make a Strong, but Fair Offer

Let’s face it – we all love a good deal. In the past, offering at or near the asking price was enough to make your offer appealing to sellers. In today’s market, that’s often not the case. According to Lawrence Yun, Chief Economist at NAR:

“For every listing there are 5.1 offers. Half of the homes are being sold above list price.”

In such a competitive market, emotions and prices can run high. Use an agent as your trusted advisor to make a strong, but fair offer based on market value, recent sales, and demand.

5. Be a Flexible Negotiator

If you followed tip #3, you drafted the offer with the seller’s needs in mind. That said, the seller may still counter with their own changes. Be prepared to amend your offer to include flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). Just remember, there are certain contingencies you don’t want to forego. Freddie Mac explains:

“Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

Bottom Line

When it’s time to make an offer, it’s important to consider not just what you need, but what the seller may need too. Let’s connect so you have expert advice on this step in the home buying process to put your best offer on the table.

Food for Thought Today June 15, 2021

Are the tides turning? That's my thought process for this week. And, it's a thought process other agents are wondering about too.

My company has about 250 agents, one of them sent a query email out over the weekend about cancellations on showings and not as much activity on higher end listings.

He got a 1/2 dozen responses indicating that yes, they had seen an increase in cancelled appointments to view properties, particularly in the higher end market. One pointed out that he used to get 30 showings in a weekend, and last listing only had about 15.

I put a new listing on the market last week or so and the showings were not great. We used a marketing tool to heat it back up and we now have multiple offers. But, we got so many, oh so many, cancellations on showing appointments. It was pretty remarkable.

One of our associates is a Real Estate coach for Realtors around the country. She had this to say:

"We are seeing a slow down across the country - buyers are are starting to balk at having to give up everything and their dog to “win” a home and are choosing to sit back and see what happens in the next year. 

Seller have been pushing the limits and have hit the wall. Definitely to be expected.  Obviously agents need to work with their sellers to “reset” their expectations. 

However the coastal properties are still in high demand. 

This shift started late last month."

Is The Tide Changing?

Had a long conversation with one of my trusted lenders and he said the same as the Realtor coach. One of my long term buyers and I conversed yesterday and he's definitely going on vacation and going to wait til the multiple offers, over appraised value, and giving up the family dog to win a house settles down.

Not quite sure when that tide will finally roll to a more calm balanced market. But we appear to be seeing a little rock in the surf that is knocking some buyers out of the market and waiting til it does.

But, hey, the buyers that do continue? Maybe they won't get hit so hard with multiple offers now? 

Yippeeeee! No More Corona Virus Forms! Still Recommend Masks Though!

Just received information from the California Association of Realtors! It's about Showings & Open Houses. The rules will change in just a few days. And, it's pretty much up to the individual Seller. I'm thrilled to just not have to do the PEAD form every time my buyers want to view a home and not having to make sure I get one every time someone wants to view one of my listings.

READ ON: 

Q1. Will there be any restrictions on open houses or showings?

A1. The only legal restriction will be for wearing masks, otherwise there will be no restrictions. No physical distancing will be required for attendees, guests and customers. No cleaning. No posted rules of entry. And no PEADs or any other type of sign in. No one will have to agree to an office prevention plan. No one will have to attest to their current health status...Anyone need an unopened box of gloves?

Q2. What will the rule be for wearing masks?

A2. The rule is: People must wear a mask indoors unless they are fully vaccinated. This follows the CDPH Guidance for Face Coverings (last updated on June 9, 2021). 

Q3. Are there any exceptions from the mask wearing requirements?

A3: Yep. The following people don't have to wear masks:

* Two-year-old children or younger.

* Persons with a medical condition, mental health condition, or disability that prevents wearing a mask, or are otherwise unable to remove a mask without assistance. For example, a person for whom wearing a mask could obstruct breathing.

* Hearing impaired persons who need to see the whole face for communication or be understood. Of course!

* Persons whose work exempts them by law.

Q4. Are there capacity limitations for an open house?

A4. No. Only for "mega events." Unless you're planning on holding an open house with more than 5,000 people, you don't need to concern yourself with any capacity limitations. Awwww, I was planning a HUGE open house next week!

Q5. My seller wants to require that everyone entering the property wear a mask or be vaccinated. Can the seller require this?

A5. Heck Yes. The seller can set their own rules as to who will be admitted to the property. As always!!

The seller can:

* Require all visitors to wear a mask.

* Require all visitors to be vaccinated or show a negative COVID test.

* Implement a vaccine verification to determine whether individuals are required to wear a mask. 

Q6. Does adopting policies that require masks conflict with the exceptions to the mask wearing requirements as stated in question 3? Does inquiring into the vaccination status of a visitor to the property violate HIPAA?

A6. No. Adopting a policy of requiring a mask is perfectly legal. 

Q7. What is the practical advice for a seller and/or a broker regarding mask wearing requirements?

A7. The practical advice is to adopt a policy that requires everyone to wear a mask. I'll ask each one of my Sellers how they wish to handle it.

Q8. What about rules pertaining to door knocking and handing out flyers?

A8. Those rules will no longer be in effect. LOLOL Be ready neighbors!

Q9. What about office re-openings?

A9. As of now employers are subject to the Revised Cal/OSHA COVID-19 Prevention Emergency Temporary Standards (ETS), if applicable to them.

Okay, there were a few more 'Realtor' only rules, but you get the gist! Masks, and nothing else for property showings and open houses. UNLESS, my Sellers requests something specific. 

Again, I say YIPPPPPPEEEEEEEEEE!!!!!

Thinking About A Backyard Arbor?

I'm in the middle of an escrow right now that has a backyard arbor. Nothing huge or incredibly interesting, but it is covered in roses if my memory serves me correctly. And, apparently the current owners got married under that arbor, so my buyers have let them know to feel free to take it if they wish. So sweet.

But, for the rest of us, we would generally consider an arbor for a few different reasons. To create a doorway type of vibe. To make a shade spot. Maybe to enhance a beautiful fountain you already have. Just to have an interesting facet added to your rear yard. So many reasons an arbor may be exactly what you need to complete your outdoor space.

Whatever reason, keep in mind that using the traditional wood will likely deteriorate over time and your lovely arbor will possibly come crashing down with the weight of that beautiful vine, rose, whatever, growing on it. Consider a wood-look material or maybe a metal. Different angles can be created with wood (wood-look) vs. metal though of course.

Check these out:

I think this would be gorgeous in a 'vintage' style garden.

Be careful with any plants on this one so it doesn't drop anything on your head

 while sipping a cocktail on that corner bench!

Very cool. Metal I'm pretty sure. Kind of industrial. I actually really dig this one.

The most typical we see, oh sooooo many other choices!

You can certainly find a lot of arbors at Home Depot or Lowe's. Anything more custom, would be a garden landscaper or contractor. Anything crazy may require a permit. And, of course, if you have an HOA, may need to get approval for an installation.

Pay attention to the height of the people that may need to walk through or under the arbor. My hubby at 6'3" may hit his head on any low-hanging plants attached to a pretty arbor. Maybe that's why I'm drawn to that metal one with what appears to be a more pitched 'roof'? 😉

How is the housing market impacting real estate agents?

We are tired, that's the short story, we are very tired. That was the subject line in an article I read this morning....how is the housing market impacting real estate agents....

We all talk about what a great Sellers market it is. And, how challenging it is for Buyers putting in offer after offer after offer.

But no one asks how the Realtor is doing?

I presume you think, "Wow, she's really making bank right now!" I'm banking what I'm making for the next lean market. 😉

Last night, during the time most people were eating dinner with family, I was sitting with a Seller finishing up disclosures. After that, when most people were relaxing in front of the boob tube, I was doing some preemptive computer work for a Coming Soon listing that hit this morning. I got out of bed at 5:45 am, after going to sleep after 11. Been this way for most of the last year. My entire life I've needed 8 hours sleep. Entire.....Life.....

I am tired.

After 19 years in the Real Estate industry I thought I'd seen every kind of market there was. Til this market. It truly is like nothing I've ever seen before. Never this low of inventory, never this low of interest rates. Never this demand for housing so incredible.

Just the organization of a showing schedule these days is exhausting. Imagine all the other tasks, well unless you're a Realtor, you can't, and us real estate agents are rightfully beat. My Sellers are tired, my Buyers are tired, I'm exhausted. 

But, I eat well, continue to do my (almost) 11k steps a day and provide exemplary service to my clients. Gotta say though, I was yawning in front of my sweet seller while going through her disclosures last night!

#BeNiceToYourRealtorToday