Real Estate Market Conditions

If you have your home on the market, or you are considering it, you might have already realized that homes aren't selling in 3 days any more, at least not usually. As we head into June, the Spring and Summer "rush" of buyers is not what I expected it to be. I feel lucky to have some business, I know there are Realtors with none. With over 3,000 or so Realtors in the Valley, and only about 465 homes in escrow, that's a lot of Realtors with no commission coming in.

So where are the buyers? Well, just about everyone who doesn't own a home yet and would like to buy, are kind of afraid to make a move. They hear the evening news anchors talk about rate hikes and they hear the pundants on cable TV sit around the round table talking about a bubble in prices. They have heard of the rising inventory of homes for sale, and how there are some more choices and discretion in the buyer's favor. Generally during this time of year, Spring and Summer, you would see your biggest increase in home appreciation rates and see homes flying off the market, one by one...at least that's how it was for the last 5 years or so. Those that are buying right now and or are in escrow, are either the very few who are motivated despite the market "jitters", those who HAVE to buy for various reasons such as job transfer in the area, or those still doing a move-up purchase before they "potentially" lose any equity in their current location.

While I can't predict the future, it seems like there is basically a wait and see attitude from buyers out there, no rush. They don't want to pay top dollar anymore. They want to pay 2005 prices (if they must), not 2006.

In this market you will find a buyer for your home if it has three important factors "right" with it...Price, Location, and Upgrades. If it doesn't have upgrades, it will have to be reflected in the price. And I'm not just talking $10,000 cheaper than the same floor plan on the market with upgrades, because buyers will finance $10,000 all day long if it means getting a home with upgrades vs. one with out. Conventional advertising isn't getting all the calls and leads to sell the home as it used to. With that in mind, its all the more reason to be the best priced home for the product offered compared to similar offerings nearby.

In this market, you can not afford to just hire a Realtor who is going to hang up a sign, and just hope for a call. You need a pro-active Realtor who will put today's latest technology and marketing methods to use in order to better sell your home. I'm talking Virtual Tours, Audio Tours, Call Capture 800 signs, Listing Website Domain Names, Professionally taken photos, Real Estate website advertising in as many as possible, postcard marketing to your neighbors, frequent open houses, caravans, listing pitched at network meetings, and the list goes on and on.

Even in the absence of significant sales volume in today's market, you can still sell your home, and buyers can still get a good deal. Its a "fair" market for all in my opinion.

Newhall Land developments!

After attending the most recent broker open meeting, several new developments were talked about that you most likely would like to know about!

First and foremost, go to www.TheScvAgent.com for the latest in Santa Clarita New Construction and New home information.

Just a few of the cool new details are as follows:

The Valencia Town Center expansion - A new comedy club is set to enter as a hot spot for locals. It will be a 300 seat club. In addition to the town center upgrades you will find that Robinson-May will become a Macys, and eventually we will be humming to the tune of the piano player inside the new Nordstroms. To deal with the expansion, parking will have to be accommodated by building two new parking structures. The Nordstroms and remainder of the expansion will take place in the Mall's main parking lot that faces south towards Valencia Blvd.

Stevenson Ranch Phase five / 5 - Extending westward down Pico past Southern Oaks, you will one day be entering phase five of Stevenson Ranch. The community will be called Legacy "Legacy". In this new village, you will approximately 3,400 new home sites with a variety of single family detached homes, condos, and multi-family residential buildings. There will also be an active senior (55+) community within the Legacy community. Sales of homes are planned for 2012 as it is right now.

West Hills and West Creek - Newhall Land is going to be developing two new communities towards the end of Mcbean and Copperhill. These communities, West Hills and West Creek will primarily be smaller residential units such as condos, townhomes, and entry level sized homes. There will be however some larger homes as a smaller percentage of the communities, specifically in West Hills. West Hills is noted to be a gated community. There will be a school bond tax for both communities. Something to consider especially with rising interest rates! Go to www.TheScvAgent.com for more info on West Hills and West Creek.

Piazza Metro - Formerly Soledad Village, this live work community is going to have a name change to Piazza Metro. As a mixed use community that will feature commercial space in addition to residential townhomes, the community is centered around the notion that it is versatile in its mobility. The builder will construct a pedestrian bridge that will span across Soledad Canyon Road and allow Piazza Metro residents to walk to the commuter station across the street. Visit www.PiazzaMetro.com for more details!

Madison at Town Center - Formerly The Prado apartments, this condo conversion building, being sold by Lennar, is starting to register people on May 16, 2006. First phase of condos is going to be released on June 10th! CALL Robert right away to get in on this list, or just visit www.TheScvAgent.com for more details of this awesome opportunity to own a condo right at the Valencia Town Center.

River Village - For details on this community visit www.TheScvAgent.com . This community will be located at the far east end of Newhall Ranch Rd where it currently dead ends by the Burger King. A little over 1,000 new home sites will be built skirting along the Santa Clara river. Much Much more details at my website - but look for a nice, new , and fresh Shopping Center at the entrance to this community. Currently there is a Vons and Ross in this shopping center. After the upgrade they still may be there, but with a fresh remodel of this older shopping center, it will be an inviting entrance to a new development like River Village.

Bridgeport Shopping Plaza - Be on the look out for a Bristol Farms Market at Newhall Ranch Road, McBean, and Grand View intersection. Everyone loves Whole Foods Market, but I think everyone loves Bristol Farms more. Should be exciting! There will be many other retailers to join in that shopping center. Once they are announced it will be posted here and at www.TheScvAgent.com !

Call Robert anytime for updates!

Visit Robert at www.TheScvAgent.com to search the MLS or get updated on New Home communities and construction in Santa Clarita.

Santa Clarita average days on market to sell

Just thought I would update everyone on the current average time it take someone to sell their home in the Santa Clarita Valley. The following statistics are per the Southland Regional Association of Realtors, and can be viewed in greater detail at www.SRAR.com .

Please contact Robert to find out what it will take and possibly how long to get your home sold in today's market!

Average Days On Market as of May 5, 2006 For:

• ACTON - 81 days
• AGUA DULCE - 111 days
• SAUGUS/BOUQUET CYN AREA - 71 days
• CANYON COUNTRY - 59 days
• CASTAIC - 59 days
• STEVENSON RANCH - 51 days
• NEWHALL AREAS - 62 days
• VALENCIA AREAS - 62 days

AVERAGE FOR SCV TOTAL - 65 days on market

As you can see, long gone are the days of selling your home, or new home that you bought solely for an investment, in about the first THREE hours of it being listed. Rather, now everyone is just having to wait patiently to get their home sold. Eventually a buyer will stroll along and buy it. There are always factors that make a house NOT sell though. These factors include the ever common OVER priced listing, a cluttered listing, bad curb appeal (simple landscape needs), smelly inside, or tenants don't cooperate (difficult!).

Its always great to do your home work before listing your home. The most important thing you can do however is find a trust worthy Realtor to sell your home, and listen carefully to their advice. It could save you thousands of dollars in more than one way!

Visit Robert @ www.TheScvAgent.com to search the MLS and get Santa Clarita new home and construction information!