Navigating the Santa Clarita Housing Market: A Guide for Buyers and Sellers

The Santa Clarita housing market continues to see movement, with new listings appearing regularly. However, with limited inventory and rising interest rates, navigating the market requires careful consideration. This guide provides essential information for both buyers and sellers in the Santa Clarita area.

Current Market Snapshot:

• Active Listings: As of today, there are approximately 288 active listings across all Santa Clarita Valley cities.
• Coming Soon Listings: These listings haven't officially hit the market yet, but you can potentially gain early access through a real estate agent.

For Buyers:

• Understanding Adjustable Rate Mortgages (ARMs): While ARMs offer lower initial interest rates, they can be risky as the rate adjusts after a set period, potentially leading to higher monthly payments. ARMs are generally suitable for buyers who plan to stay in the house for a short period, such as 3-5 years.
• Saving Money on Your Mortgage: Consider options like:
  • Shorter loan terms: Opting for a 15-year mortgage instead of a 30-year one will increase your monthly payment but significantly reduce the total interest paid and shorten the repayment period.
  • Buying down the rate: Paying upfront fees can lower your interest rate, potentially saving you money over the long term. However, carefully weigh the cost versus the benefit.
  • Making additional payments: Even an extra payment a year can significantly reduce your loan term and save you on interest.

For Sellers:

• Understanding Buyer Contingencies: Some buyers might list their current home sale as a contingency on purchasing yours. While this allows them more flexibility, it can also delay your closing.
• Considering Market Conditions: The current market favors sellers with limited inventory. However, be aware that rising interest rates could slow down buyer activity in the future.

Additional Tips:

• Get pre-approved for a mortgage: This shows sellers you're a serious buyer and strengthens your offer.
• Work with a reputable real estate agent: A good agent can guide you through the process, provide valuable insights, and negotiate effectively.
• Stay informed: Research the market, understand current trends, and be prepared to make informed decisions.

Youtube Channels:

Conner with Honor - real estate

Home Muscle - fat torching

From first responder to real estate expert, Connor with Honor brings honesty and integrity to your Santa Clarita home buying or selling journey. Subscribe to my YouTube channel for valuable tips, local market trends, and a glimpse into the Santa Clarita lifestyle.

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