Houses are going in multiple offers in areas of Santa Clarita including Castaic, Valencia, Newhall, and Stevenson Ranch, Ca.

 

Home sales in the Santa Clarita Valley were down in November, due to lack of inventory and bidding wars!

Listings dropped 45 percent from November 2008 to a total of 818 active listings at the end of last month, according to the Southland Regional Association of Realtors.

There are home out there in all price ranges the problem is getting loan approved. The economic bail out gave billions to the bank who were suppose to lender the money to home buyers to purchase homes. Instead they have made very difficult to give a loan kept of the bail out money. Lenders now day look for reasons not to give you a loan. Don’t give up hope at Two 4 One Real estate we have lenders that actually wanted to loan money. Strange I know. 

A total of 162 single-family homes changed hands last month, the association reported. That represents a 17.8-percent drop from November 2008 and a 5.8-percent drop from last October. This is not to buyer losing interest. It is due lack of inventory in Santa Clarita, Valencia, Castaic, and Newhall.

The latest figures represent a 3.5-month inventory, compared to a 6.4-month supply in November 2008, according to the real estate association, which stated a balanced market is reflected by a five- to six-month supply. Quite a change from 18 month of inventory two years ago.

The fed has extended their tax credit to April so don’t count on the completion for new homes subsiding any time soon.  If you are looking to get into a home have been getting beat out please give us a call. We have a couple technique that have been very successful in getting new buyers into home in the Santa Clarita, Castaic, Valencia, Newhall, and Saugus, Ca.

Scott Reiber

Broker/Owner Two 4 One Real Estate Inc.

By: scottreiber | In: Santa Clarita Real Estate | Comments: 0 | On: 01/04/2010 21:06:33

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