Tips for Buying When Housing Inventory Is Low

If you are a savvy buyer, you take all the necessary steps to prepare for buying a home. Now that you are prepared, it’s time to begin the house hunt. 

This is supposed to be the fun part, right?

Do you know what you will do if you discover there aren’t many options? If you find few or no options for sale within your price range, it’s easy to get frustrated. While that’s true, don’t give up just yet. Use some of the tips here to help you find your perfect home, even with a low housing inventory. 

Offer a Higher Price

This is the basic principle of supply and demand. Prices go up when inventory is low, and demand is high. Consider offering your final and best offer upfront. While offering a higher price when buying a home can be tricky, it may be worth it in this situation. Just make sure you can afford what you offer, which is going to increase the mortgage payment. 

You also need to be able to make up the difference in cash if the house happens to appraise under what you offer. Usually, lenders will not approve mortgages higher than the appraised value. 

Act Fast but Stay Patient 

Getting the home you want in a competitive market usually involves a lot of “hurry up and wait.” Make sure you are ready, at any point, to make an offer on something newly listed. While you may need to be ready to pounce on a house when it first comes available, sometimes the deal just isn’t right for you. You may also find that your offer is not accepted. Stay patient, and the right home will come along. 

Stay Flexible on Closing Dates

Besides acting quick with an offer, you may have to close quickly, too. For example, the seller may need to close quickly because of a divorce or job relocation. Your offer may also have more weight if you can get to the closing faster. 

You may wonder how to speed this entire process up. One way to do this is by shortening your inspection time frame. Ten days is plenty for a home and termite inspection if you have an inspector ready to go. 

Also, if you are preapproved, you can close as quickly as a non-cash buyer. That’s because the mortgage lender will have everything ready to go to help you get your mortgage and move things along. 

Making the Most of Low Housing Inventory

If you are in an area where housing inventory is low, it’s a good idea to make sure you are ready to act if an opportunity arises. While it can be frustrating at times, you can easily get the home you want for an affordable price with the right real estate agent. 

Being informed is half the battle, so make sure that you stay updated on what is going on in the local market to ensure you can act when needed to purchase a house.

Uniquely Valued Properties In Santa Clarita, Ca

In some real estate markets, it’s really important to choose the right guide. The agents who assist you in picking out your dream home matter, because the markets themselves are more complex and sophisticated in these high-end areas.

Santa Clarita, California is one of those neighborhoods. This is not a place where builders rush in and plunk down dozens of identical cookie-cutter homes, either duplexes or standalone single-family dwellings. There are many creatively unique properties in these neighborhoods and navigating this market, buyers benefit from specialized and skilled agent assistance. Here, getting the right property is especially important, for a number of reasons. 

Creating CMAs

One of the jobs of an agent is to create a comparable market analysis for a property that’s under consideration. The CMA helps to compare that property to other properties to make sure that pricing is set correctly.

That’s more difficult, though, when the property is really uniquely valued. It becomes more challenging to really pin down the CMA value, partly because there is less to immediately compare it to, and partly because of the subjective value of real estate.

Knowing You’re Home

A good agent will expose the buyer to a range of properties in the local area, so that the buyer can start to get a feel for what they’re seeing, and what they’re looking for.

You may have heard the expression “one person’s junk is another person’s treasure” and that idea is somewhat applicable in real estate, too, although it’s understandably quite different in some ways. The bottom line is that not everyone agrees on property values and on comparisons. Different people are looking for different things. What you find and what you buy depends on what you wanted in the first place. As a starting point, people often evaluate numbers of bedrooms and bathrooms, but then, what about a pool and hot tub? What would you personally value that at? And what about a nice even grade for the land around a home? Those are just some basic examples. 

Top-Class Agents

Marcel Cuschieri Group represents one of the top real estate companies operating in Santa Clarita, California. We know this local market very well, and have a lot of experience with local properties. Let us guide you through the neighborhoods around Sant Clarita, thoroughly, and with attention to detail, because we are dedicated to helping you find that perfect property. 

 

 

Oldtown Newhall Boasts A Vibrant Community

Oldtown Newhall Boasts A Vibrant Community

Newhall, California, is quickly becoming a highly sought-after place to live. This hidden gem of a town hits all the marks when it comes to opportunities for work-life balance in a vibrant community. If you are considering a move to the beautiful community of Newhall, there is a lot to see and experience. Whether you are looking for family-friendly entertainment, upscale restaurants, or peaceful time alone, Newhall offers something for everyone.

Shops With Something For Everyone

Shopping experiences in Newhall are diverse; from handcrafted goods to the latest fashions, Main Street offers a one-of-a-kind shopping experience. Old Town Newhall has been revitalized and is bustling with shoppers who enjoy the many options of locally owned boutiques and niche shops. You’ll find something new every time you stroll through Newtown, and the surrounding areas offer the convenience of all the major retail options as well.

Local Fare

There is no shortage of delicious food in Oldtown Newhall. Boasting some of Los Angeles County’s finest fare, Newhall eateries offer dining experiences to suit every taste. Many residents of Newhall enjoy evening strolls to dinner with friends, and the community boasts local events throughout the year that offer a taste of the region.

With the perfect balance of family establishments and fine dining, your taste buds will be overwhelmed by the snacks, meals, desserts, and curated fine dining opportunities.

Environment Perfect For Entertainment

With popular venues like Canyon Theatre Guild and The MAIN, you will find unrivaled entertainment options year-round in Newhall. Thursdays@Newhall series is one of the community’s beloved long-running events that gathers all ages in town for arts and musical performances. Whether you are hoping to get involved with the arts or simply love to join in the fun, Newhall has just the ticket for you.

Life With A Historical Backdrop

Old Town Newhall is Santa Clarita’s oldest neighborhood and is steeped in history. Experience the Western Walk of Stars, the Heritage Junction, the William S. Hart Museum, and much more to discover why this area has been considered a gem for quite some time.

Housing That Fits Your Lifestyle

Newhall offers a wide array of homes that are perfect for all types of lifestyles and families. Professional realtors specializing in Newhall’s extensive real estate market can help you find exactly the home that fits your needs. Quiet streets for walking your dog, neighborhoods designed to inspire cook-outs, and a thriving community all await you in Newhall.

Real Estate In Hollywood And Beyond

What does it mean to work in one of the nation’s hottest real estate markets?

 

From the Hollywood sign, out in all directions, Southern California property in this area  is part of a hot market. It’s at a premium, and these neighborhoods are uniquely desirable, not just for people working in television, but for all sorts of buyers as this urban area continues to thrive and grow.

 

Here’s some of what we bring to the table in terms of facilitating excellent real estate deals all around Hollywood, Burbank and surrounding areas. 

 

The Power of Analytics

 

Real estate agents need to be good with numbers. They may not need to understand things like derivatives the way that Wall Street types do, but they need a good deal of professional acumen with property values and all of the surrounding math that goes on around a real estate deal.

 

Understanding that math to the point of offering shorthand to customers is one of the biggest services that a real estate agent can do in today’s market. These are complicated deals that take a lot of quantitative work and various touch points to complete, so having a knowledgeable realtor is a must.

 

Neighborhood Knowledge

 

We often say that without detailed neighborhood knowledge, a real estate agent is really just playing blind man’s bluff.

 

Another way to say that, though, is that the neighborhood knowledge and intimate understanding of the local real estate market is a much-needed skill set that promotes the confidence and capability that you need in the local real estate agent. This is not a generic market, and you don’t benefit from having a generic real estate approach here.

 

Dealing with People

 

The best real estate agents and many of their clients understand that at the heart of it, real estate is about dealing with people. If you’re not a mover and shaker with good people skills, you tend to lose out among the crowd, and deals are not as smooth as they could have been. That’s why the best agents make it their business to work well with all sorts of people to make deals happen.

 

Availability and Accuracy

 

Here’s a bonus set of skills that real estate agents really make use of in this industry. One is availability – making sure that you’re on hand when your clients need you, day and night, in order to make things happen on the way to the settlement table. Another is accuracy – communicating the right information, so as not to confuse the seller or the buyer, or anyone else who’s in the middle of one of these deals.

 

For more, check out our website. We serve sellers and buyers around these neighborhoods with the best local approach and knowledge of the market. Make us your agent for a successful deal on a dream property. 

 

 

What’s a Bloomburb? Growth in Santa Clarita

Have you ever heard of a “bloomburb?” What does this mean?

 

All you have to do to understand this new real estate term is look at the thriving little town of Santa Clarita, 30 miles west of downtown Los Angeles.

 

With around 200,000 people, Santa Clarita is not one of Los Angeles’ bigger communities, but is one that is growing quickly. As a top destination in the LA metro area, Santa Clarita is seeing its homes scooped up on the market, and getting a lot of interest from folks moving into the area, as well as current residents. 

 

Traditional Santa Clarita Landmarks

 

In Santa Clarita, you have Six Flags and the College of the Canyons. You have local businesses that everybody knows by name, and nice quiet residential streets where people keep up properties well. Then you also have a boom in new business, and demand for local housing that is putting Santa Clarita on the map (in bigger font.)

 

Santa Clarita is well served by Highway five. It’s easy to travel north to Castaic, or down to the San Fernando Valley. In fact, many people see Santa Clarita as a little haven nestled above San Fernando, where the Valley has already transformed into a grid of solid suburbia. If you live in Chatsworth or Van Nuys or Reseda (or any of those endless suburbs tied together by the valley’s gridwork), you might be thinking about getting away to a nice little spot like Santa Clarita. 

 

Yes, Santa Clarita is booming, and that’s why people call it a “bloomburb.”

 

A “bloomburb” is a suburb that’s experiencing rapid growth and expansion. Typically it gets harder to find plots of land to develop in the local area. These communities are hot real estate markets!

 

New Development in Santa Clarita

 

You can see all of this new development in Santa Clarita if you look on Zillow, or just cruise local streets. There are houses spring up down Tujunga way and in Santa Clarita proper.

 

Many of these new properties are really attractive to new buyers. They’re built with all of the amenities of home, and designed to fit into the traditional village look of Santa Clarita neighborhoods.

 

If you’re looking for a condo in Santa Clarita talk to the Marcel Cuschieri team. This experienced real estate agent group has served this area for years, and knows the ins and outs of Santa Cruz neighborhoods exceptionally well. We can help you to get in the door in this fascinating bloomburb!

 

Home Buying and Selling During the Pandemic: What You Need to Know

Resources to help you navigate the new real estate normal.

Technology and good-old-fashioned creativity are helping agents, buyers, and sellers abide by COVID-19 health and safety practices while getting deals done.

Some buyers are touring houses virtually. Others visit in person while remaining at least six feet from their agent. Sellers are hosting open houses on Facebook Live. Appraisers are doing drive-by valuations. Buyers are watching inspections via video call. Masked and gloved notaries are getting signatures on doorsteps.

“We have had to make some adjustments, for sure,” says Brian K. Henson, a REALTOR® with Atlanta Fine Homes / Sotheby’s International Realty in Alpharetta, Ga. “Everyone is trying to minimize face-to-face interactions. There have been some delays, but mostly, deals are getting done, just with tweaks.”

Here’s what home buying and selling during the pandemic looks like.

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