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Canyon Country real estate market on Black Friday of 2024 · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Here we are, Black Friday Canyon Country.
• 0:01
  SPEAKER_00: Good day, everybody.
• 0:02
  SPEAKER_00: I'm Connor with Honor.
• 0:03
  SPEAKER_00: Let's check out today's real estate update.
• 0:06
  SPEAKER_00: I did post everything here at Santa Creede Openhouses.com.
• 0:09
  SPEAKER_00: First thing before we get into it, let's see what's happening as far as the open houses go.
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  SPEAKER_00: 56 have been scheduled for this weekend, so you can go to Santa Creed Open Houses and see all of them.
• 0:19
  SPEAKER_00: They'll all be posted here.
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  SPEAKER_00: Three pages of these.
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  SPEAKER_00: So right now, 56.
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  SPEAKER_00: I don't see that changing a lot between now and tomorrow.
• 0:27
  SPEAKER_00: But again, you can come back and check it out.
• 0:29
  SPEAKER_00: Let's look at this Canyon Country update that I did this morning.
• 0:32
  SPEAKER_00: Talk a little bit about the market.
• 0:33
  SPEAKER_00: Of course, today's the 29th of November.
• 0:36
  SPEAKER_00: It's Friday, about 9 a.m.
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  SPEAKER_00: right now, 3, the 134th day of 2024.
• 0:42
  SPEAKER_00: And this is a 48th week of this month.
• 0:45
  SPEAKER_00: Overall, Santa Cruita Valley, it's moving pretty quick, as you can see here.
• 0:48
  SPEAKER_00: We do have coming soon listings.
• 0:50
  SPEAKER_00: One that's been placed on the market.
• 0:51
  SPEAKER_00: If you want to get access to that coming soon and any earning the coming soon listings, you have to get those directly from an agent.
• 0:57
  SPEAKER_00: Just email me honor at Santa Clarita Openhouses.com.
• 1:01
  SPEAKER_00: I'll be happy to get that to you.
• 1:03
  SPEAKER_00: And just include any specific city.
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  SPEAKER_00: If you want to see all of it, then I'll send you all of it.
• 1:08
  SPEAKER_00: So there's one coming soon.
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  SPEAKER_00: We have 22 new listings.
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  SPEAKER_00: 39 properties have their prices changed.
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  SPEAKER_00: This is all Santa Clarita Valley, and that is quite big.
• 1:16
  SPEAKER_00: We do see that number steadily increasing as we get closer to the end of the year.
• 1:21
  SPEAKER_00: Things definitely to watch.
• 1:23
  SPEAKER_00: As far as Canyon Country goes, we do have that particular 90-day sold snapshot.
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  SPEAKER_00: We're seeing as we have 69 properties have closed successfully in Canyon Country.
• 1:33
  SPEAKER_00: I did do 90-day intel report for that.
• 1:37
  SPEAKER_00: You can see that here.
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  SPEAKER_00: I also have a link to a report page below on this specific page as well.
• 1:42
  SPEAKER_00: But we have average price per square foot, 350 to 450.
• 1:46
  SPEAKER_00: That's going to depend on the type of property, of course, and the average days on market.
• 1:50
  SPEAKER_00: We have single family homes going about 21 days in Canyon Country, Condos Town homes about 18 days.
• 1:57
  SPEAKER_00: One of the things that I will point out, looking at the loans that people are using in Canyon Country, it actually has a higher level of VA and FHA loans than the other Santa Clarita Valley cities.
• 2:08
  SPEAKER_00: We're seeing that conventional loans are the actual leader there on the leaderboard, 65%.
• 2:14
  SPEAKER_00: That's not unusual.
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  SPEAKER_00: Now, a conventional loan, it used to be that that was period.
• 2:19
  SPEAKER_00: Now they have different levels of conventional loans.
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  SPEAKER_00: So if you're looking at buying a property and you're thinking about using an FHA loan, which is the least amount of money in the real estate, that's about 3.5% down, unless you're a veteran.
• 2:34
  SPEAKER_00: But either one of those two scenarios, you might be able to get a conventional product that can at least compete with an FHA loan, and you might be able to override if the particular condominium or townhome isn't approved to have an FHA loan written on it.
• 2:50
  SPEAKER_00: You might actually be able to use a conventional loan and accomplish your same goal.
• 2:54
  SPEAKER_00: So that's something to talk to your lender about.
• 2:56
  SPEAKER_00: Now, right now in Canyon Country, definitely the whole enchilada, if you will, you need to watch when you're putting your property on the market, if it's already listed for sale, then when you're doing those strategic price reductions, have that conversation with your agent ahead of time.
• 3:13
  SPEAKER_00: And of course, for you buyers out there, you need to look at the properties that are going back on the market, not successfully finishing escrow.
• 3:21
  SPEAKER_00: We have 12 of those that happened in this last seven days in Canyon Country.
• 3:26
  SPEAKER_00: And then also with the high level of price changes, 39 price changes happened.
• 3:30
  SPEAKER_00: So that's something to watch out as well for.
• 3:33
  SPEAKER_00: If you're seeing a property that just had its price reduced, it might get to that spot where it's going to move very quickly.
• 3:39
  SPEAKER_00: So you, as a buyer, should have all of your ducks in a row, get all your approvals in place, and everything that you need to verify, you're actually qualified a qualified buyer and get out there and look at that property.
• 3:51
  SPEAKER_00: One of the things that's going to happen in this market is every real estate agent is now mandated to have a buyer agreement when they take their buyers out to show them real estate.
• 4:01
  SPEAKER_00: So don't be shy, but you can have that buyer agreement curtailed however you would like as a buyer.
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  SPEAKER_00: If you want it to be for specific property, that's great.
• 4:11
  SPEAKER_00: If you want it to be for multiple property types, that's also fine.
• 4:16
  SPEAKER_00: And as far as time frame goes, you can make that up to 90 days and then re-evaluate.
• 4:21
  SPEAKER_00: But what's important is reading that contract through because most things are actually sent via digital ink or docuSign, which is an online signing system.
• 4:31
  SPEAKER_00: And because that's a case, it's so easy just to click through and just to click those little boxes and say, I accept.
• 4:39
  SPEAKER_00: Throw caution to the wind.
• 4:41
  SPEAKER_00: You might have known the agent a long time.
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  SPEAKER_00: Just make sure you understand what they are having you sign.
• 4:47
  SPEAKER_00: It's very, very important.
• 4:49
  SPEAKER_00: I did put up some real-time market updates here.
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  SPEAKER_00: You can see the search homes uh at this particular link as well.
• 4:55
  SPEAKER_00: This is going to pull down Canyon Country, and when you get here, you can see these particular market reports that I put together talking about what's happening in Canyon Country as well.
• 5:05
  SPEAKER_00: And of course, do your specific property searches for different properties gated over 55 lots and lands, and then of course get the specific market report for Canyon Country, California.
• 5:15
  SPEAKER_00: There is no registration required here.
• 5:17
  SPEAKER_00: I did set it up so you don't have to put up or give up any personal information, but this is going to be a complete nice snapshot here for Canyon Country and show you what's exactly happening in this particular market.
• 5:30
  SPEAKER_00: I'm Connor with Honor.
• 5:31
  SPEAKER_00: Thank you so much for watching.
• 5:32
  SPEAKER_00: It really has been my pleasure.
• 5:34
  SPEAKER_00: We'll see you in the next one.
• 5:35
  SPEAKER_00: Be safe on Black Friday.
• 5:37
  SPEAKER_00: Don't forget to check out my book.
• 5:39
  SPEAKER_00: It is very good.
• 5:40
  SPEAKER_00: It's full of information that's going to help you in your buying process here in the Santa Cruz Valley and also selling.
• 5:47
  SPEAKER_00: We'll see you in the next one.
• 5:48
  SPEAKER_00: Take care.