The difference in price from 4.1% to 5.1%......$300/month (and $108,000 more in interest over 30 years).
4.1% sounds GREAT right about now, yes? The lesson: Don't wait until 5.1% sounds awesome....
Don't forget.. mortage insurance and other expenses are added to this.
2018 Saw Massive Advertising From Discount Brokerages
As a Keller Williams agent, I am very pleased our company got a head start on technology that will offer services and data that will leave the discount agents wondering what hit them. If you've considered one of those companies, just remember that saving $6,000 on a commission (for example) while selling for $36,000 less is not a win for you. Especially when, in 2019, homes will not be flying off the shelves the way they have in the past 5 years. Homes for sale will need full-service marketing and negotiation from a skilled agent to earn the top dollar for your home. That example above? It happens, every day, with discount brokerages. Think about it. If they can't even protect their sole source of income, what will they do when the time comes to protect you? Plus, there are devilish details such as lengthy contract periods and payment arrangements where you pay whether the home sells or not. At KW, we will make your life far easier, and save you that money in other ways:
- We will be offering NO-COST Loans.
- 24/7, our new Kelle Data Cloud is collecting millions of bits of new real estate data allowing agents like myself to pinpoint the perfect home and price for my buyers, and offer unparalleled insight into home pricing for my sellers, starting in March.
Home Buyer Statistics
Sellers: Beautiful photos might just be the most important thing your agent can make sure you have.
In 2018, there are approximately 118 million occupied housing units in the United States, according to the 2018 American Housing Survey. The typical owner-occupied home was built in 1977; the typical renter-occupied home was built in 1974. The typical home size nationwide is 1,500 square feet, but in Santa Clarita, it is 1900 square feet. The typical home owner is 55 years old, and has lived in the current home for 13.6 years.
Facts About First-Time vs. Repeat Buyers:
- First-time buyers: 34%
- Median age of first-time buyers: 32
- Median age of repeat buyers: 54
- Median household income of first-time buyers: $75,000
- Median household income of repeat buyers: $97,000
- The typical home purchased was 1,870 square feet in size, was built in 1991, and had three bedrooms and two bathrooms.
- Among those who financed their home purchase, buyers typically financed 90% of the home price.
- 87% of buyers purchased their home through a real estate agent or broker—a share that has steadily increased from 69 percent in 2001.
- Buyers who would use their agent again or recommend their agent to others: 89%
Did you know?
According to the 2010 Census, the Los Angeles metropolitan area had a population of more than 12.8 million residents, while the larger metropolitan region had an estimated population of 18.1 million. Los Angeles has 272 distinct neighborhoods, with various characteristics and the LA Times has a great interactive guide to them.
Room to Breathe...
Where is there the most space... and the fewest people per square mile? Take a look..
Santa Clarita is ranked 202nd out of 265 areas in density. There are 63 areas less densely populated than the SCV in LA County..
Statistics From Afar: The 2 Valleys compared
Santa Clarita homes cost over $100 less per square foot of living space.
Circle J Ranch climbs to the top position in price per square foot. A year ago, nearby Placerita Canyon, at $371/psf was the highest. It has dropped to $329/psf.
Santa Monica is hardly the place for a first-time home buyer to look, it just happens to place 7th among LA County cities for 27 factors including price and median household income...
Above, a look at the "attractiveness" of various cities from a first-time home buyers viewpoint. Lancaster is for some, a paradise of wide open spaces where you can live in a big modern home, and be left alone. Others will find commuting and reported crimes a deal-breaker. Santa Clarita places a very respectable 3rd due to its better schools, safety and livability scores than virtually other LA County city.
Hot Selling Areas