Latest / Connor with Honor: AI, Real Estate and Real Life / Home buyers are being misled on purpose, what you need to know by Connor with Honor

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Home buyers are being misled on purpose, what you need to know by Connor with Honor · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: March twelfth, twenty twenty-four.
• 0:02
  SPEAKER_00: Good day, everybody.
• 0:03
  SPEAKER_00: It's Tuesday.
• 0:03
  SPEAKER_00: It's Connor with Honor.
• 0:04
  SPEAKER_00: We're going to have a real estate update.
• 0:06
  SPEAKER_00: Also, I'm doing a 50-day fast thing.
• 0:09
  SPEAKER_00: If you want to join that, you can get that at youtube.com forward slash at home muscle.
• 0:17
  SPEAKER_00: There's that.
• 0:18
  SPEAKER_00: So go there.
• 0:18
  SPEAKER_00: You can you can join that if you'd like to.
• 0:20
  SPEAKER_00: Let's get into the daily real estate inventory.
• 0:22
  SPEAKER_00: Also, what I've been seeing in the market with regard to first-time buyers, there's information out there online that is erroneous.
• 0:30
  SPEAKER_00: It is filled with errors, probably on purpose, because the questions come up quite frequently, and I don't believe they're being answered in with the full depth that they should be given.
• 0:43
  SPEAKER_00: For example, you can ask a question that elicits a yes or no response primarily.
• 0:50
  SPEAKER_00: But sometimes yeses and no's don't cover the complete answer.
• 0:55
  SPEAKER_00: Of course, something can be in the affirmative, but it might take a couple books to explain why it would be in the affirmative.
• 1:04
  SPEAKER_00: And in making good decisions, I do believe the outcome, understanding the why of the outcome is dependent on asking the right question.
• 1:14
  SPEAKER_00: And if you want to unpack that one over a couple days.
• 1:17
  SPEAKER_00: But the right question is this with regard to real estate, is it sold as is?
• 1:23
  SPEAKER_00: And the answer to that for the buyers out there in the world, yes.
• 1:27
  SPEAKER_00: Real estate here in Southern California, it's sold as is.
• 1:30
  SPEAKER_00: Anything above and beyond the face value of that property is negotiable.
• 1:37
  SPEAKER_00: So if you go into a residence to purchase it, you and you see it, you are purchasing what you see.
• 1:45
  SPEAKER_00: You see the house, you want to buy it, you're going to be giving money, you're going to be entering under contract, you're going to be buying the house.
• 1:53
  SPEAKER_00: But what if you discover something?
• 1:55
  SPEAKER_00: Well, you discover something in the process of now buying the house, then at that point you need to investigate what you've discovered.
• 2:04
  SPEAKER_00: What is it?
• 2:05
  SPEAKER_00: Was it because of a home inspection?
• 2:07
  SPEAKER_00: Was it because of you talking to mother or father, and they told you that this may be a bad area or maybe an area you shouldn't want to live in, or the father's ex lives next door and there's an active restraining order, but the father loves to come visit his grandchildren, which you have, there's a lot.
• 2:24
  SPEAKER_00: How it works is this you see a piece of real estate, house, economy, or townhome, you want to purchase it, great.
• 2:31
  SPEAKER_00: You've probably been pre-approved, I hope, spoken with a lender, great.
• 2:35
  SPEAKER_00: You have somebody like me on your side that can then ask all the other right questions that need to be asked to the agent representing the seller.
• 2:43
  SPEAKER_00: Perfect.
• 2:43
  SPEAKER_00: So now we set up a time to see the property because it seems to fit so far into what you're looking for, and it seems to fit so far within the loan and lending program that you have been, that you are going to be using.
• 2:57
  SPEAKER_00: So now we start to go look at the property.
• 2:59
  SPEAKER_00: And, you know, through it, we walk in, look at the neighborhood, kind of feeling for how that is.
• 3:05
  SPEAKER_00: We look through the windows, we look at the windows, we look at all the functionality of the home, you know, do the switches work or the old and antiquated, and the things that I know just enough to get me into trouble, right?
• 3:17
  SPEAKER_00: Since I've been doing this since 1998, tongue in cheek there.
• 3:20
  SPEAKER_00: But so then I look at other things.
• 3:22
  SPEAKER_00: I know these neighborhoods, so I'm familiar with past inspection reports and maybe some neighborhood-specific problem.
• 3:30
  SPEAKER_00: That's important, or an area-specific problem.
• 3:33
  SPEAKER_00: And a lot of these items can be gathered when, even if I'm not super 100% familiar with the area, the ability for me to eat a slice of humble pie when it comes to speaking to the agent representing the seller about what different area disclosures there might be that my buyer can use to base a better buying decision upon.
• 3:56
  SPEAKER_00: And the reason why that's incredibly important is because you might not know a particular area is in a flood zone or a fire zone or an earthquake zone or a liquefaction zone.
• 4:06
  SPEAKER_00: And in Southern California, everything is in some kind of a zone, but maybe it's not a zone that you like or are comfortable with, or after you do your research, you're not going to appreciate, as is.
• 4:19
  SPEAKER_00: That's it.
• 4:19
  SPEAKER_00: And then when we find those things, then we make decisions.
• 4:24
  SPEAKER_00: Well, should we ask the seller to remedy it?
• 4:27
  SPEAKER_00: Is it something we can live with?
• 4:29
  SPEAKER_00: Maybe we can ask the seller to meet us halfway.
• 4:32
  SPEAKER_00: Maybe this is a different kind of a solution where money's not going to fix it and seller blessing isn't going to fix it.
• 4:40
  SPEAKER_00: And maybe you aren't going to be able to solve the equation either.
• 4:43
  SPEAKER_00: Maybe it's going to require some higher power of prayer.
• 4:47
  SPEAKER_00: Whatever it may be, at least you know what you're getting into.
• 4:51
  SPEAKER_00: So, yes, real estate is sold as is.
• 4:54
  SPEAKER_00: And yes, if we go to a property and we see that it has an active hornet's nest, which happened very recently.
• 5:00
  SPEAKER_00: I mean, seeing so many hornets, and they were everywhere.
• 5:04
  SPEAKER_00: And it was so plentiful, there were actually hornets' nests that had been abandoned.
• 5:11
  SPEAKER_00: So this was like a hornet's utopia.
• 5:14
  SPEAKER_00: And the question was, honor, because we see these hornets, do we have to accept it?
• 5:19
  SPEAKER_00: This is something that I would probably construct in the offer itself.
• 5:24
  SPEAKER_00: Hornets, active hornets, they need to be abated.
• 5:27
  SPEAKER_00: I mean, kind of dangerous.
• 5:29
  SPEAKER_00: I think.
• 5:30
  SPEAKER_00: I mean, stepping on toes out there and becoming racist in nature because the hornet problem.
• 5:35
  SPEAKER_00: Don't know.
• 5:36
  SPEAKER_00: But please walk, let's walk through this.
• 5:38
  SPEAKER_00: If in fact the hornets are a protected type of insect, I understand, maybe they can be relocated.
• 5:45
  SPEAKER_00: But to have kids and stuff around hornets, and these are pretty aggressive, walk out the back door and they're on you.
• 5:52
  SPEAKER_00: And I can imagine that can become a problem, especially if you're a person that might like to swat at the hornets.
• 5:59
  SPEAKER_00: And then when you start swatting, it's just a mess.
• 6:02
  SPEAKER_00: Be that as it may, as is, yes, but it requires a lot of knowledge, experience, and explanation to be able to really understand the full grasp of what that means.
• 6:13
  SPEAKER_00: Okay, so we're good.
• 6:14
  SPEAKER_00: So that's a little bit of a buyer tip.
• 6:16
  SPEAKER_00: Also, sellers can learn from that as well.
• 6:19
  SPEAKER_00: When it comes to disclosures, if you're have something in your mind that maybe it's two months outside of the timeframe that you must have disclosed whatever the item is.
• 6:32
  SPEAKER_00: Let's say it's death in a property.
• 6:34
  SPEAKER_00: Let's say that number's five years.
• 6:36
  SPEAKER_00: Five years, two months later, you're selling your house, you know that it died in your house of natural causes or whatever.
• 6:42
  SPEAKER_00: And it's two months outside of the time frame that you had to disclose it to the buyer.
• 6:48
  SPEAKER_00: And my opinion, why not disclose it?
• 6:51
  SPEAKER_00: Might as well.
• 6:52
  SPEAKER_00: Is that seller protective?
• 6:55
  SPEAKER_00: It might be, because at least the buyer knows, and anybody can sue anybody for anything.
• 7:03
  SPEAKER_00: There aren't a lot of processes prior to the lawsuit in order to clear it as being frivolous or completely unsubstantiated.
• 7:13
  SPEAKER_00: If it's a little bit confusing, it's time to attorney up, and that costs money.
• 7:19
  SPEAKER_00: So even though you might be in the right as a seller, asking yourself the question should be a good indicator of what something is trying to tell you to protect yourself.
• 7:29
  SPEAKER_00: I'm Connor with Honor.
• 7:31
  SPEAKER_00: Let's talk soon.
• 7:31
  SPEAKER_00: Let me get you that local update real quick here for Santa Clarita Valley Cities.
• 7:35
  SPEAKER_00: I do know that we've been seeing inventory slowly creep up here every day.
• 7:41
  SPEAKER_00: It's going up one and two units a day, but when we get to a weekend, we'll see an increase of uh real estate inventory on the Friday, and then a subsequent decrease of that following week about Wednesday.
• 7:56
  SPEAKER_00: That's usually the way that it works with regard to what uh how the sales processes and the time frames are here in Santa Clarita.
• 8:04
  SPEAKER_00: So let's look at what's currently on the market active.
• 8:07
  SPEAKER_00: Yesterday I'll have to look at the show again and again.
• 8:09
  SPEAKER_00: I do these every day.
• 8:11
  SPEAKER_00: So I might not be recalling correctly, but I believe yesterday we were on 330, maybe 329.
• 8:18
  SPEAKER_00: And currently, right now, as of this moment at 9.44 a.m.
• 8:22
  SPEAKER_00: in six seconds, 335 total listings on the market for sale here in Santa Crita Valley.
• 8:28
  SPEAKER_00: That's gonna be condominiums townhome single family residences.
• 8:32
  SPEAKER_00: That's gonna be 335 total, 15 coming soon.
• 8:35
  SPEAKER_00: And they run the gamut, folks.
• 8:37
  SPEAKER_00: You got uh a bottom end at maybe 420.
• 8:41
  SPEAKER_00: It's looking like here, all right.
• 8:43
  SPEAKER_00: You got uh 420.
• 8:45
  SPEAKER_00: 175 is actually the bottom end of Bokeh, uh Boke Canyon property.
• 8:49
  SPEAKER_00: You got a Canon View Estates, you got a few of them, they've dropped quite a bit recently.
• 8:53
  SPEAKER_00: Might be a lending thing, something to reach out, but they're running 262, 265, 269.
• 8:58
  SPEAKER_00: This is a land lease, though, and this is well, an improvement on leased land.
• 9:04
  SPEAKER_00: They're nice, they look good in there.
• 9:05
  SPEAKER_00: It's a good community.
• 9:06
  SPEAKER_00: Anyway, that's uh Canyon View Estates, and you got your friendly valleys.
• 9:10
  SPEAKER_00: That's gonna be a senior community.
• 9:11
  SPEAKER_00: Those are coming at about 345, 339.
• 9:14
  SPEAKER_00: I got a 299 in there, and then running into, well, as you can see, we run the gamut.
• 9:20
  SPEAKER_00: And the other end of the spectrum, five and a half million dollars custom canyon country home on Sierra Highway.
• 9:27
  SPEAKER_00: So if you want to see that or anything in between, I'm here.
• 9:30
  SPEAKER_00: I'm Connor with Honor over now.