Chatsworth Real Estate Update

In the past few weeks, there has been a ton of news stories, blogs, tweets, and Facebook posts about how bad the real estate market is.  Of course, what constitutes bad is relative, isn’t it?  Your bad girl is my dream come true.  My bad idea is your adventure.  That guy’s bad car is that other guy’s restoration challenge.

So let’s talk about this so called bad real estate market.  In this really bad market interest rates are currently under 4.5% for a 30 year fixed loan, the lowest in over 50 years, and they just might get lower.  The prices of homes are also at historic lows.  So, if you are going to be buying a home in the near future, you will never pay less for the house and the cost of your loan will never be cheaper.

Now, good news for a home buyer must be bad news for the seller of that home.    Right?  Not necessarily.  Contrary to what you may have heard, lenders are actually lending money.  Lots of it.  Just not recklessly.  So the buyer who truly loves your home can actually buy it.  And keep it.  And maybe you won’t get the price you would have a few years ago, but you will get a price for it.  And, if you are inclined to, the next house you buy with the proceeds will be at a good price.

Something else to keep in mind is that real estate is really a local market.  National market trends are nearly irrelevant when deciding whether or not to buy or sell a house.  Like I’ve said before, your real estate in Chatsworth is a lot more dependent on local economies than the economies of Chicago, New York, or Miami.

So let’s take a look at what is happening in the Chatsworth real estate market.  Currently, there are 101 single family homes for sale in Chatsworth, ranging in price from a $125,000 home in Twin Lakes to a $3,495,000 home in Indian Spring Estates.  There are currently 34 condos and town homes for sale in Chatsworth, ranging in price from $89,900 to $445,000.

Are homes actually selling in Chatsworth.  Indeed they are.  Since June 1st of this year 72 single family homes have sold, ranging in price from $239,000 to $1,350,000.  Similarly, 39 condos or town homes have sold in Chatsworth.  The prices of those sales range from $105,000 to $464,995.

From a personal standpoint, I’m still making a living as a real estate agent here in Chatsworth.  So things are good from where I sit.

Also, I want to sincerely, thank all of you who continue to express your interest in my recovery from the heart attack I had over the July 4th weekend.  And, yes, I’m following most of my doctor’s instructions.

Enjoy the rest of your summer!!