Santa Clarita Valley Real Estate -Market Snapshot-
ByMake sure that you don’t neglect the options that are available on the home page of our blog.Paris911.com. On the left side of the screen on our blog’s home page you will see a Market Snapshot. This actually compiles the Multiple Listing Data from the Multiple Listing Service available from the San Fernando Regional Association of Realtors (where every listing is entered into) and compares it with the subject property that you enter in the form.
We don’t even touch the data it gets done by the system that we have in place. You will be amazed, give it a try and see where your Santa Clarita Valley Market Shapshot has you. You will get detailed information about the target property that you input. Another thing you may not realize is that the data you enter does not have to be your own home. Check out your neighbors if you are a "Nosy Nellie" (no offense to anyone named Nellie), or even your own home to see what shape your Real Estate is in.
Primary Markets – We work anywhere our clients trust us to represent them. Therefore you might say that we have quite a few primary markets. So if the job calls for us to go to Covina, which we are currently at 248 E. Benbow -or- Panorama City -or- Los Angeles – Or even further north, south, east or west, then we do our due diligence to learn about those areas so we can be the best representative that our clients can ask for. At any moment, if we feel, Outgunned by the others that work in that particular "primary market" we will refer our clients out to someone we interview. But to date we have not seen anything that would indicate that it is more advantageous to use a "local" agent. Familiarization is done with research from their local board, by our own investigations with current listings. By speaking with agents and contacting business owners and the Local Law Enforcement (by an insider) entity to gather the most data available reference to our target, we do this Real Estate thing pretty well.
It is a difficult hump to overcome by some of the sellers and buyers that are in the Real Estate market, when we explain that we are not Area Dependent. We are Client dependent. If there were harm or disadvantage that would be caused by our representation in a local that is not the exact city of our office location, I would tell you and would explain why. If I had a wish and could waive a magic wand it would be to make Re/MAX of Santa Clarita or RE/MAX of Valencia’s name change. Tying a corporate name and making it location dependent limits the reach it could have. Paris911 – Seems to be a name associated with emergency – Paris is my wife of 17 years with the patience of a saint – I was a 911 for 17 years with the LAPD, and still am a Level 1 Reserve Officer, so Hence the bond of Paris911. The goal is to have all the people that encounter the name of "paris911" to ask the simple question, what is that? When they ask and get their answer, it is much more meaningful than it not having to be given a second thought by the person or persons.
Where is with the current Real Estate Market? Why do we not have to worry about what happened back in the 1990’s in reference to the collapse of the housing market? Where do I see us a year from now? Why is Connor asking so many questions?
The Current Real Estate market is down from 1 year ago in sales by over 50% (52.9% to be exact) these are San Fernando Valley Numbers, and is up in inventory 23.2% from November 2006. At our current pace we have a 15.1 month supply of homes if they kept selling as they are now. That is coupled with the rule that no other listings could be taken. If you look back to February 1993, there was a record high of a 23 month supply of homes (that is a lot different folks), also there was in July 1992 14,976 active listings compared with the 7505 for November 2007. Less than half. When you look at the inventory from the mid 1990’s you will also see that it stayed above the 10,000 mark for years (years…). Also you have people walking away from their homes and relocating out of state due to the crappy job market out here. (that was back then)
Where are we now, unemployment is low, interest rates are very low, there is a lot of inventory to choose from. If you are looking for that bubble to "Burst" I don’t see it due to the factors explained above. Also you need to look at the areas and how the infrastructure is put together. Are there jobs that exist in those areas that keep the people wanting to live there? Is it a quality of life thing? How about the home buyer, are they established or has the "owner occupied" property owner been living in his home for the past 30 years having paid 3K for it? The closer you get to the older communities of Los Angeles where those residents have lived there for a long time, you have a less damaged market. When you get to areas and suburbs of Los Angeles that have been building new homes over the past few years, you have a much bigger problem. Santa Clarita Valley is still holding Strong – San Fernando Valley as well – Los Angeles is Strong – the Antelope Valley was hit very hard by this market. Check out their listings and inventory compared with past numbers. (www.avrealestate.com) Simi Valley and Conejo Valleys are also holding pretty strong in comparison with a lot of the other parts of the country.
A Year From now I see that the lending arm has healed itself. I see Conforming loan limits much higher in specific markets (I cheated). I see the home prices having stablized and unemployment ever lower than now. We will have a new president, I will still be bald, married and will have more obstacles with my 14 year old son and his 6 year old Brother. I will still be doing 300’s each and every day before I go to bed or upon arising. I will also have gotten more people involved in the 300 club. (you’ll have to ask me about this one), I’ll still be an extreme hater of those that prey upon the weak (elderly, children, poor, handicapped, and those that cannot fend for themselves).
*SME (Subject matter Expert)
Connor With Honor
Whew – I’m glad I spelled it right!
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