Navigating Santa Clarita Real Estate Law In 2022

Having trouble keeping up with Santa Clarita real estate law? A lot has been happening. Here are our top three tips to navigate the current market. 

In January 2022, Santa Clarita home prices were up 19.5% compared to last year, and homes sold at a median price of $825,000, according to the Southland Regional Association of Realtors (SRAR). 

On average, homes in Santa Clarita sold after 26 days on the market, compared to 35 days last year. Additionally, the number of homes sold (183) decreased 8.5% from this time last year. 

The numbers are pretty clear. Though inventory is low, we’re still in the middle of a booming real estate economy, in every aspect from buying and selling to renting and even construction. 

“Anything you can imagine, in terms of Santa Clarita real estate, has been nonstop,” explained Steffanie Stelnick, Founding Partner of The Law Offices of Steffanie Stelnick. “As we look ahead, many people are speculating about what’s on the horizon. The Federal Reserve is talking about raising the interest rates. Inflation is huge. And people are wondering: ‘What do we do?’”

2022 Santa Clarita Real Estate Law Update

When the economy and the real estate market are this active, it’s important to know what you’re getting into. Here are our top-three tips for navigating the Santa Clarita real estate market this year:

1. Review Your Assets

Wholesaling is a relatively new term in real estate that refers to the quick re-selling of homes. 

“In a wholesale, the seller works directly with the buyer – typically with no agents involved – which is very rare in real estate,” explained Steffanie Stelnick, Founding Partner of The Law Offices of Steffanie Stelnick. “Generally, there’s a third-party intermediary involved to represent your interests. Pulling that person out of the equation has both benefits and drawbacks that you should know about.” 

While these transactions can be done very quickly, for example, they also can leave you vulnerable. 

“A property is a significant investment, which is why it’s critical to have a real estate attorney review any legally binding property contract, including the wholesale of your property,” Steffanie added. “When it’s done with the proper guidance and expertise, wholesaling can be a fast-and-easy solution for the right seller.” 

2. Proceed With Caution

If you’re in the middle of a transaction, or you’re considering one, now is the time to be cautious and protect yourself. Make sure you’re reviewing all your documents and contracts with a qualified attorney. 

“Even though things are moving quickly right now, you still need to be mindful of each step in the process,” Steffanie advises. “This is not the time to cut corners out of convenience or to save time. These are major transactions, and you really need to be crossing your t’s and dotting your i’s.”

3. Look To The Future

Our attorneys also help with trusts, which need to be reviewed more often than people realize. For example, if you refinanced while the interest rates were low, you should check your trust, too. Sometimes the mortgage lender may not put the property back into the trust. “That’s why it’s so important to reach out to a real estate attorney,” Steffanie explained. “We can review your property profile to make sure everything is exactly the way you want it, so you can protect your biggest assets — now and in the future.”

How We Can Help

Whether you’re signing a legally binding contract, navigating a real estate transaction, or managing rental properties, getting the opinion of a Santa Clarita real estate attorney is crucial, if you want to save yourself time, hassle and money in the future. 

Our attorneys can review your legal paperwork with an expert eye because they’re specifically trained and experienced in real estate law in Santa Clarita and throughout California. 

“If you have questions about anything that deals with real estate in California, we are your one-stop-shop law firm to help you navigate all the challenges and opportunities of this unique real estate market,” Steffanie said. 

Do you need an expert eye to review your properties or trust? We offer a complimentary consultation designed to help answer all your questions – and we don’t charge for phone calls. So please don’t hesitate to contact The Law Offices of Steffanie Stelnick today.

About The Law Offices of Steffanie Stelnick 

The Law Offices of Steffanie Stelnick is a full-service civil litigation law firm in California that focuses on real estate law, with cases in estate planning, probate, landlord and tenant disputes and contract disputes. Santa Clarita wholesale attorney Mrs. Steffanie Stelnick represents builders, small and large property management companies, investors, brokers and all types of real property owners. In 2020, she was recognized by the American Institute of Trial Lawyers as Litigator of the Year. Mrs. Stelnick believes all landlords and tenants should know their rights, and when it comes to representation, experience matters. The Law Offices of Steffanie Stelnick has handled thousands of real estate cases with a strong, aggressive approach that ensures all clients operate on an even playing field in a litigation environment. Founded in the Santa Clarita Valley, this premiere real estate law firm has offices throughout the state of California, including Encino, San Francisco and Sacramento.