Current Real Estate Market

Hello. My name is Jason Cook and I'm a Realtor with Realty Executives in Santa Clarita Valley. I work throughout the Santa Clarita Valley and San Fernando Valley, but my main focus is in Valencia.

We currently have over 2,500 homes on the market in the Santa Clarita Valley. A year ago we had around 800 homes on the market. This is quite a change, and the main reason why it is taking much longer for a home to sell. The good news is the inventory has stopped rising as dramatically. By the end of the year we will see close to 25% of the inventory come off the market (most of these will be the homes that are clearly overpriced, those in poor condition and those that are not being marketed correctly.) This should help the truly motivated Sellers to get their homes sold.

Is this too much inventory? Actually, no. The main reason why homes appreciated so dramatically over the past few years was because we had too little inventory. Buyers were practically throwing tens of thousands of dollars on top of Seller’s asking prices to get their offers accepted. From the years 2000 to 2005 we saw an average annual appreciation between 10-25%.

From our market peak of May 2005, the overall market has declined from 4-10%. It is likely we’ll see another 10% decline in the market over the next year. Now that interest rates have risen, prices will naturally fall and the market is now in the process of stabilizing. But remember, long-term growth for the Santa Clarita Valley is still strong and short-term adjustments like we’re now seeing is normal.

It would be my pleasure to represent you in the sale of your home or puchase of your next home. I promise to work diligently for you and to keep you updated on all aspects of the transaction; all I ask is let me be one of the agents you interview to sell your property, or help you buy another home. You can count on my unsurpassed service with exceptional results.

If you have any Real Estate questions, please feel free to send them my way at JasonRCook@sbcglobal.net

Please visit my website at www.ValenciaHomesToday.com


All my best,

Jason Cook