Latest / Connor with Honor: AI, Real Estate and Real Life / Santa Clarita Real Estate Update: How My First Responder Skills Give You the Competitive Edge!
Transcript
- 0:00well the 4th of October here we are everybody this is 2024 welcome Santa Clarita let's talk about your daily real estate inventory and then we're gonna get into some other real estate news that might help you when it comes to making buying or selling decisions in this current market so looking at inventory we've actually increased several listings from yesterday up six so right now we have 14 listings that are in the coming soon realm all of these listings all of the real estate information that you're looking for is at Santa Clarita Openhouses com it's my website it's my property so you don't have to be concerned about somebody taking your personal and private information and just selling it to the people that wanna buy it you're gonna find that if you go online and you're looking for anything real estate more than likely it's not gonna take long you're gonna start being followed around on your social media you're gonna see real estate ads and all these other things you really can't stop that but you can work with getting your best advice right out of the shoot find that local agent somebody that talks about the local market somebody that adds value somebody that gives the information out there's people needed very very straightforward not leading to the left or to the right just as you wanted give me the information so you can base a really good buying or selling decision upon that also with any information conveyed to you when I'm meeting with my sellers or buyers it's just not me that I'm bringing with me I bring information and data provable factual data that I can show my clients because when I was a police officer when I got into court and I was testifying against the person that I arrested for some crime I couldn't just say to the judge I had a feeling I had to give full and complete information and I bring the same tactic and strategy into my real estate business because at the end of the day you're gonna wanna know just like the judge wants to know and the attorneys wanna know and the bad guy wants to know and God himself wants to know everybody wants to know exactly the factual information so coming from law enforcement in real estate that's one of the things I bring I love facts I love data I love honest and truth that stuff means the world to me so back to this 83 new listings have hit the market less than six yesterday we're up a little bit higher in that realm price changes 69 less than two yesterday back on market properties 24 that's up three from yesterday these are very small changes in the market daily things it's really better I find when I'm looking at three and four week pieces information in fact when I'm looking at even sold that I'm looking at 180 days if I can get away with finding complete variables that are apples to apples in comparison I will then do it uh with 90 dy relm 90 day search process for those listings to try to put those best prices on them but in some cases you need that entire 180 days but one of the things as a savvy agent that you're gonna want to have given to you is if in fact you're looking at comparables and there's not very many for your residence and your agent showing you this okay on them you're gonna wanna look for those dates when they actually finished because if it comes to listing your house and it takes and you have a listing that you compared that was really one of the best ones to compare your house with if it has gone past that 180 days in most cases an appraiser is not going to be able to use that information so your house might come in short regarding appraisal if in fact there's nothing else to verify it with now praisers do a very good job but this is information that you might want to be understand a bit of because what you don't want is somebody to come take advantage of you now I say 180 days no more no that's not a super strict hard and fast rule especially if the appraiser takes a little bit more time and justifies their selection and wild why they are using an outdated comp but just like in real estate who you hire makes the difference in a lot of cases you're not gonna have a choice on what appraiser comes to the property and inspects it you happen to be a home seller and you're not not doing a refinance again that's something that you're not gonna be privy to usually either it's not gonna be something you do but this is good information to know alright so we have pending properties 53 61 properties have closed the last seven days that's up 13 over the seven day period from yesterday to today's change and we have 14 properties that have put on hold now in Valencia what I did is I wanted to pull down some of the best listings and inventory shifts give something of a neighborhood spotlight so with regard to the Valencia Winding Trail corn listed 745,000 3 bedroom 3 bath home and that's a very solid choice you can see that one at Santa Clarita open houses.com now while one property went into contract in that neighborhood there is still a very high buyer interest in Valencia and also in Canyon Country on Flynn Drive at 4 74 a 2 + 2 some of the investors that call me are looking for properties such as this and they're looking on when those rental estimates are how much is that property gonna rent for the other thing that you wanna investigate is what type of loan if you're an investor are you going to be able to obtain on a particular property out here and it's going to depend on how many units might be utilizing a particular loan type so these are things you definitely want to investigate with your agent to make sure if in fact you are going to develop an investment strategy and purchase properties to rent and hold here in Southern California because that really is seems to be the bigger payoff cash flowing stuff out here in this market it's a little difficult for investors unless you can really get a very very great on real estate but other than that that tactic be to buy and then hold and then let the property values get such a way where you'd be able to offload the property or maybe buy it enough undermarket value in such bad shape you might be able to put a little bit of money into it and then flip it but there are also rules with that with regard to time frame so definitely if you wanna get in that investment world with regard to real estate buying rehabing Flemping or buying with a rental strategy holding on for a longer amount of time definitely wanna sit down with somebody that has done this and knows the intricacies of it so you don't get yourself into a financial bad way and again coming from working in law enforcement and then in real estate there really is there are several parallels one of which has to do with that trust whenever a citizen came and wanted me or needed me to do some kind of enforcement action I always went to the best of my ability there was no second chance there was no maybe if I make a mistake I can redo this later and I bring that to real estate I have there's quite a bit of overlap with law enforcement real estate but I saw very early on when I purchased my first residence I got totally screwed by the agent and that's why a few years later I got my real estate license just because I was exceptionally powerless at the time I was being taken advantage of I didn't want that same fate to fall on anyone else especially if I had some kind of semblance of control and was able to be the real estate agent so that's what I bring to the table these different impacts on the Sanitrita Valley we seem to have that had interest rate meeting remember that here I think it was September 17th and 18th of memory serves with that meeting the Fed reduce the rate that the banks of course borrow and trade money a little bit and that did have a trickle down effect to the mortgage interest rates but let's keep watching and see where those rates end up we could see further cuts between now and the election time usually after that things are probably gonna remain steady just for a little bit right now I don't see the market taking off in any way we did miss the opportunity to have more sales come on to the market as real estate listings and that was because rates were proposed to go down even lower than they did that would have sent a shockwave into the market and I do believe more sellers would have listed their properties because what they need to buy a replacement property they're not gonna be in within their mind such a big difference in interest rate you know going from maybe four maybe they can understand maybe they can work with that going from 2.2 or 2.8% if they happen to have the mortgage for a couple 2 3 years then trying to get into a 5 or 6 it's hard to make that move so that's what's holding sellers up now for you buyers out there just make sure that you get pre approved you talk to those lenders out there there are several different types just know that going in you're gonna see that there's lenders that work at your credit union if you happen to be a cop or fireman or sheriff or actor in the in the movie industry you know those credit are out there built around you they do offer real estate origination meaning they will be able to lend you money on a real estate purchase I would just say maybe shop around just a little bit just to make sure that in fact they do offer you the best rate in some circumstances and I've been trying to talk to some of these law enforcement credit unions because I believe I have a solution they I think they really be the best thing in town but they hire a lot of these companies that basically work on manipulating the membership in order to get them to use the credit union for loan origination but what they're missing those are all great things I guess especially if they're able to make a good deal but what they're missing is the communication when everything is online you're feeling everything online there's no model to really speak with anybody or the people you're speaking to really have no more skin in the game than hourly there's no bonuses or anything else unfortunate human nature is such that you're not gonna get a lot of service in that realm so one of the things that talking to the police credit union I had a contact there for a bit talking about how to expand that and make that market more solid because I do believe they might be able to be the best interest rate out there and with credit unions typically they don't have the FHA or VA they do sub those out they give those to other entities one of the things that I would say is even though maybe they can't write the FHA in the VA they do have great conventional rates also but whoever you approve with just make sure that you keep a file of all the information documentation you're gonna be sending them they're gonna ask you for a bunch of stuff make sure you have all that together and put it in a file so if you need to talk with somebody else and get somebody else's opinion on you're borrowing an interest rate in those sorts of things then you can do at least do much easier and I'll give this reminder as I do with everybody everyone selling or buying real estate follow everything up in an email so you make sure there is no misunderstanding I'm Connor with honor thank you so much for watching today's real estate update we will be back tomorrow and I do appreciate it be well let's say 45 days to get it into escrow for example and appraises it if you happen to be a home buyer