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Inside Real Estate
June, 2009 - Issue #56
It's a Great Time to Buy But what about Selling?

by Joshua Suess

If you haven't already noticed, this is a fantastic time to buy real estate in the Santa Clarita Valley. What most need to remember is, when stock prices fall, it's usually the best time to buy. Buy low and sell high, right? The same is true in real estate.

Low interest rates and low prices equal a fantastic time to purchase - but is it a good time to sell? The answer is yes and no. There are currently five price ranges that are actually experiencing a "sellers' market" and eight price ranges that still remain a "buyers' market." Knowing which category you fall in would be a key first step in choosing whether to sell now or not.
Second, your motivation to sell would be an accurate predictor of the end result. Those who "want to move" may not have enough motivation to do what is necessary to sell in this market and those who "have to move" are surely the ones with a "sold" sign on their front lawns.

Third, it is highly recommended you speak with a real estate professional who handles and is familiar with all types of selling options such as short sales, standard sales and others to properly advise you on what options are available to you in this market. The most critical aspect of buying or selling a home in today's market is having a knowledgeable real estate professional on your side to guide you through in order to avoid costly mistakes.
Joshua Suess is with the Suess Home Selling Team at Re/Max 702-4640 www.suesssellshomes.com.

SCV Real Estate Update
Current average sale price: $381,598
The average sales price is down approximately 21 percent from the same time last year.

Current average days on market: 63
Homes that have sold, on average, have been on the market 21 days less, or are selling 25 percent faster than this time last year.

Note: Currently in the SCV, we are seeing the average sales price continue to decline in eight price ranges but are seeing signs of recovery in five price ranges. There are 207 more sales and homes are still selling faster than they did at this time last year.

Beware of Property Tax Reassessment Services
by Jennifer Thompson

Homeowners, please be aware of private companies soliciting their services to pursue a reduction in your property taxes. These companies are charging hundreds of dollars to file a reduction on behalf of the property owner.

Homeowners need to know that the County Assessors Office is reviewing 500,000 homes in LA County. This review will be completed by June 2009 and homeowners will be notified by mail if their home was included in this review. You may also check online at assessor.lacounty.gov to see if your home was included.

If your home was not included in the selection, or if you prefer to go ahead and complete an application, Regal Realty of California is offering - for free - to provide homeowners with the two comparable sales needed to submit with the Decline-In-Value-Reassessment Application.
Jennifer Thompson is a Realtor® and owner of Regal Realty of California
295-8715 www.regalrealtyca.com.


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