Sylmar Real Estate Update

A few tidbits about Sylmar real estate and home sales in the San Fernando Valley that you may not be aware of:

Sylmar Home Sales Strong
The real estate market is alive and well in Sylmar and other parts of the San Fernando Valley, despite what you may be hearing in news reports.  Last week I tried to show a home for sale that had been on the market just 4 days. I called the agent in advance to verify the home’s availability and sure enough, not only had the home gone into escrow, it had 23 offers and the purchase agreement was for $40,000 above asking price!

Sylmar Leases & Rentals
Same is true in the leasing world, which I’ve been busy helping victims of the tragic fire last month that virtually destroyed the Oakridge Mobile Home Park. Finding short- term and long-term housing has been a challenge. Leases are 12 months minimum at very high prices, enough to afford a house payment in most cases.

Sylmar Foreclosures
Here is an interesting article on MSN today that may help neighbors who are blighted by unsightly in-foreclosure homes nearby. Foreclosed House Next Door? Call me if you have a problem with a foreclosed home; I may be able to find out some information for you that may be helpful.

Sylmar Home Loans
Just before Thanksgiving, interest rates took an overnight nosedive of a point, which makes conventional loans so attractive right now that anyone thinking about buying should get off the fence just for interest rates.  Mortgage experts tell me that 30-year fixed rate mortgages can be had in the low 5% range for those with credit scores of 740 and over. Wow, that is probably the best interest rates offered in the last 10 years. Keep an eye out for more low interest rates as talks in Washington, D.C. continue about how to stimulate the economy.

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Filed under Foreclosure Info, Interest Rates, Mortgage news, real estate, Real estate Market, Sylmar

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