Santa Clarita Real Estate Update
Inventory Remains Low, Big Differences for Homes Above & Below $800K Range
July, 2020 - Issue #190

"Homes listed in the $800,000s and below are SELLING LIKE HOTCAKES. We're getting some multiple offers, offers for $10,000, $20,000, $30,000 more than listing. Inventory is limited and what's available at that price point is moving fast."
Kathy Watterson, Broker Associate
While much remains uncertain as our world continues to adjust to new normals, one thing is sure right now: Santa Clarita's real estate market has weathered the storm well thus far.
"Because our inventory was already quite limited, and with the number of additional homes hitting the market balanced by the number withdrawn from sale, our local sellers are still commanding high prices for their houses," says Kathy Watterson of The Kathy Watterson Team, RE/MAX of Santa Clarita.
There are some caveats, of course. "Homes listed in the $800,000s and lower are moving very quickly, especially if they're in good condition. Beautiful turnkey homes are getting multiple offers over listing, so if people are still working from home, this is a great time to put the hours you're saving on your commute towards those DIY improvements that make your home show well," says Watterson. For homes valued higher, Watterson advises patience. "Especially for the properties $900,000 and higher - those are selling slower, taking an average of three months. The right buyers are out there, but they're cautious and they know they can be selective. We have a list of pre-qualified high-end buyers who are waiting for the perfect home - they want to see upgrades for that price point."

Go Big & get Home
With homes under the $800,000s often selling as fast as they're listed, and many times for over asking price, homeowners who are looking to "level up" have a strategic advantage right now.
"Because the homes listed over the $900,000s aren't moving as quickly, combined with incredibly-low interest rates, now is a smart time to sell a lower-priced home at a premium, then use that equity for a down payment on a higher-priced home that's now value priced."
says Watterson.

Buying & Selling Safer
How do you market or buy a home without the quintessential "open house?" "We're still getting homes in front of potential buyers - it's just happening in a way that prioritizes everyone's health and safety," explains the award-winning Realtor.

High-tech No-contact Marketing
"By using today's best technology, we're creating 360-degree online tours, gorgeous professional-grade pictures, personalized videos and more so that potential buyers can feel like they've experienced every corner of the house firsthand - without ever leaving their own couch," says Watterson. "These have become incredibly popular, with homeowners sharing their videos on social media and buyers e-mailing links to family and friends out of town so that they can chime in, too."

Masks, Gloves & Limits
"Once the showing agent has determined that a home is on a buyer's shortlist, we'll schedule an in-person tour," explains the Realtor with over three decades of experience. The buyers and agent wear masks and gloves during the tour. "There's a limit to who can go in," says Watterson. "They're pre-screened for recent loan approval to make sure it's worth everyone's time and extra guests are excluded. Everything is very safe and to protocol."

Why Now is the Time to List your Home
The big question on everyone's mind: Should I wait to list our home - or list now? According to Watterson, the industry expects to see an influx of new listings hitting the market in the fourth quarter. "With more inventory, there's more competition," says the longtime SCV resident. "Taking advantage of a tight market means faster sales and higher prices."
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