Porter Ranch In San Fernando Valley Offers Seller Gains
by Blanche Evans
Like other communities in the San Fernando Valley, Porter Ranch is experiencing a seller's market. "Porter Ranch is a growing and prestigious community located in the San Fernando Valley, with homes ranging from affordable to luxurious," says Realtor Jerry Keller. "Whether you're a first-time home buyer, or you'd like to move up to gated estate living, Porter Ranch can accommodate your needs. You may want to golf at the exclusive Porter Valley Country Club, shop at the brand new Porter Ranch Town Center, work out at the YMCA or visit the public library, you'll delight at the choices which abound. Porter Ranch is minutes from hiking trails, great restaurants and major freeways, a half an hour from downtown Los Angeles, approximately 45 minutes to local beaches, and 90 minutes to local ski areas. About the market, Keller says, "Sellers have gained automatic equity with prices rising 20 to 25 percent. Porter Ranch is definitely a community you'll want to see when looking for your next home! The median price of an existing home in California in March increased 22 percent and sales increased four percent compared to the same period a year ago, the California Association of REALTORS® has reported. The median price of a home in the Central Valley, High Desert, Monterey, Monterey County, Northern California, Northern Wine, Orange County, Riverside/San Bernardino, Sacramento, San Diego, Santa Clara, Santa Cruz, North Santa Barbara County and Santa Barbara South Coast regions posted record highs in March, according to C.A.R. Closed escrow sales of existing, single-family detached homes in California totaled 590,220 in March at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity increased 4 percent from the 567,610 sales pace recorded in March 2003. The statewide sales figure represents what the total number of homes sold during 2004 would be if sales maintained the March pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales." "Buyers wants to invest now! There's your chance to sell your house for top dollar," says Realtor Silvana Oliveira. "When there is a scarcity of homes for sale, called a low inventory market, your chances of a quick sale at a high price are better. Buyers have less to choose from so they're more willing to make compromises. Prices tend to rise as buyers compete with one another for the limited supply of homes available. There is a seasonal aspect to the residential real estate market. Spring is usually the period of most intense sales activity. Unless there is a pressing need to sell, most sellers wait until April or May to list their homes for sale. The inventory of homes for sale usually drops off starting in November and doesn't pick up again until spring. This period of low inventory can be a prime time for sellers who break with convention and list their homes during the winter months." |
