Living In Santa Clarita

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Archive for the category “San Fernando Valley”

Buyers paying over asking price…way over asking!

With the lack of inventory out there buyers have little to choose from and thus are paying premium dollars for the house they want to buy. 99.9% of the time they are paying above asking price. They either are paying out-of-pocket for the difference with the appraisal or working something out in the offer with the sellers. Contingencies are being removed as well.

I have a listing that just sold for 25K over list price and I also just had an offer accepted with a buyer on a home and we just got the offer barely accepted with 25K over.

Below is an article that explains this a bit.

 This article is from the Daily Real Estate News…

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More Buyers Willing to Make Higher Offers

DAILY REAL ESTATE NEWS | FRIDAY, MAY 24, 2013

Home buyers are saying they’re willing to pay more for a residential property due to concerns over low inventory. In the second quarter of 2013, 41 percent of buyers said they’re willing to offer more, up from 34 percent in the first quarter, according to a survey of more than 1,300 home buyers in 22 major markets by the real estate brokerage Redfin. 

The number of buyers who say they’re concerned about rising home prices has more than doubled in the past year, according to the survey. Seventy-nine percent of home buyers say they believe prices will increase in the next 12 months—with 23 percent of that group saying by “a lot.” 

“Home buyers are accepting the reality of a seller’s market and expressing a willingness to pay more,” according to the brokerage’s survey. 

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Hot real estate market areas in California

Here is a great piece of information that shows how the real estate home buying market has taken off and is red hot in most areas! Take a looksie

Hot market areas in California

See how other areas are doing!

California Real Estate Market Snapshot

Real Estate Market Snapshot

Market snapshot from California Assoc. of Realtors

2013 Real Estate housing prediction

This was a October 2012 prediction for this current year of 2013 from the California Association of Realtors Chief Economist, Leslie Appleton Young.

She was right on! Sales and Median home prices have gone up!

Housing Recovery is for Real

According to this great article by FICO, the housing market is for real according to 71% of the lenders in the market today.

Besides in Real Estate they are seeing positive signs in: 

  • Car loans                               79 percent
  • Credit cards                           75 percent
  • Home equity lines                   81 percent

For more information about this and to read the entire article by FICO, 4/9/13

Click below

http://www.fico.com/en/Company/News/Pages/04-09-2013-housing-recovery-for-real-according-to-71-percent-of-lenders-fico-survey.aspx

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