Blog

Know the common selling mistakes and how the best realtor in Santa Clarita, CA, Racquel Wilder, helps you avoid them with smart pricing, timing, and strategy.

Discover how a trusted realtor in Santa Clarita, CA like Racquel Wilder Realty can help homeowners sell home fast. Contact Racquel Wilder Realty today!

Don’t wait. Selling a house needs the right price. A trusted realtor in Santa Clara, CA helps you market right and sell smart. Get a property evaluation today.

You may have seen talk online that new home inventory is at its highest level since the crash. And if you lived through the crash back in 2008, seeing new construction is up again may feel a little scary. But here’s what you need to remember: a lot of what you see online is designed to get clicks. So, you may not be getting the full story. A closer look at the data and a little expert insight can change your perspective completely. Why This Isn’t Like 2008 While it’s true the number of new homes on the market hit its highest level since the crash, that’s not a reason to worry. That’s because new builds are just one piece of the puzzle. They don’t tell the full story of what’s happening today. To get the real picture of how much inventory we have and how it compares to the surplus we saw back then, you’ve got to look at both new homes and existing homes (homes that were lived in by a previous owner). When you combine those two numbers , it’s clear overall supply looks very different today than it did around the crash ( see graph below ):

From frenzy to breathing room: buyers finally have time! See what this market shift means for first time homebuyers from best realtor Racquel Wilder.

Are you a first time homebuyer? Read key advice to make your home purchase smooth. Reach out to Racquel Wilder, top Santa Clarita realtor, today.

If you're a first-time homebuyer, chances are you'll come across some terms you’re not familiar with. And that can be overwhelming, especially while going through one of the biggest purchases of your life. The good news is you don’t need to be an expert on real estate jargon. That’s your agent’s job. But getting to know these basic terms will help you feel a lot more confident throughout the process. Terms Every Homebuyer Should Know Once you’re familiar with this terminology, you’ll have a better understanding of important details – from contracts to negotiations. So, when those big conversations happen, you’ll feel informed, in control, and able to make the best decision for your unique situation. As Redfin puts it: “Having a basic understanding of important real estate concepts before you start the homebuying process will give you peace of mind now and could save you a fortune in the future.” Here’s a breakdown of a few key real estate terms and definitions you should know, according to the Federal Trade Commission (FTC) and First American. Appraisal: A report providing the estimated value of the home. Lenders rely on appraisals to determine a home’s value, so they’re not lending more than it’s worth. Contingencies: Contract conditions that must be met, typically within a certain timeframe or by a specified date. For example, a home inspection is a common contingency. While you can waive these to try and make your offer more competitive, it’s generally not recommended. Closing Costs: A collection of fees and payments made to the various parties involved in your home purchase. Ask your lender for a list of closing cost items, including attorney’s fees, taxes, title insurance, and more. Down Payment: This varies by buyer, but is typically 3.5-20% of the purchase price of the home. There are even some 0% down programs available. Ask your lender for more information. Chances are, unless specified by your loan type of lender, you don’t need to put 20% down. Escalation Clause: This is typically used in highly competitive markets. It’s an optional add on in a real estate contract that says a potential buyer is willing to raise their offer on a home if the seller receives a higher competing offer. The clause also includes how much a buyer is willing to pay over the highest offer. Mortgage Rate: The interest rate you pay when you borrow money to buy a home. Consult a lender so you know how it can impact your monthly mortgage payment. Pre-Approval Letter: A letter from a lender that shows what they’re willing to lend you for your home loan. This, plus an understanding of your savings, can help you decide on your target price range. Getting this from a lender should be one of your first steps in the homebuying process, before you even start browsing homes online. Bottom Line You don't need to have all these terms memorized, but a little knowledge goes a long way. Brushing up on the basics now means fewer surprises later – and more clarity when you buy a home. What unfamiliar real estate term or phrase have you come across that wasn’t on this list? Let’s connect and talk through it so you have a solid understanding of what it means and where it may show up in the homebuying process.

If you want to "sell my home fast in Santa Clarita, CA", trust Racquel Wilder Realty’s market know-how to get results. Ready to list? Contact today!

If you’ve been house hunting lately, you’ve probably felt the sting of today’s mortgage rates. And it’s because of those rates and rising home prices that many homebuyers are starting to explore other types of loans to make the numbers work. And one option that’s gaining popularity? Adjustable-rate mortgages (ARMs). If you remember the crash in 2008, this may bring up some concerns. But don’t worry. Today’s ARMs aren’t the same. Here’s why. Back then, some buyers were given loans they couldn’t afford after the rates adjusted. But now, lenders are more cautious, and they evaluate whether you could still afford the loan if your rate increases. So, don’t assume the return of ARMs means another crash. Right now, it just shows some buyers are looking for creative solutions when affordability is tough. You can see the recent trend in this data from the Mortgage Bankers Association (MBA). More people are opting for ARMs right now ( see graph below ):