Latest / Connor with Honor: AI, Real Estate and Real Life / Santa Clarita open houses where is the market and what to do to protect yourself against getting less for your home than it's worth in 2025

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Santa Clarita open houses where is the market and what to do to protect yourself against getting less for your home than it's worth in 2025 · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Real estate inventory still continuing to build here as we're at the 6th of March 2025.
• 0:05
  SPEAKER_00: Good day, everybody.
• 0:06
  SPEAKER_00: Let's get into the market and then I'm going to talk to you about some of the companies out there that seem to be talking about purchasing residential real estate, making it incredibly simple cash transactions.
• 0:17
  SPEAKER_00: Again, you don't need to put your house on the market.
• 0:19
  SPEAKER_00: They'll be able to purchase it directly from you.
• 0:21
  SPEAKER_00: We'll talk about that in just a moment.
• 0:23
  SPEAKER_00: Over the past several weeks, as we now breached into March of 2025, we've been watching a steady building of inventory.
• 0:31
  SPEAKER_00: Last couple weeks, though, we've had in excess of 100, 113 listings added to the market each seven days.
• 0:38
  SPEAKER_00: This is putting properties at more of a surplus for now, but we're also seeing a heightened buyer drive with the online inquiries and people that are reaching out there wanting to know the status of real estate and the state of the market is now a good time to buy.
• 0:52
  SPEAKER_00: And usually the response to that question is best served by talking about how are they currently living?
• 0:58
  SPEAKER_00: Are they living somewhere where they can deal with it for a long period of time until maybe the next real estate market reset, which is probably going to be a while, or are they in a place where they really should be moving?
• 1:11
  SPEAKER_00: Also, don't forget, one of the other conversations to have in there would be the equity building proposition, which is very common in a market that is, as we are, with a limited inventory with a supply and demand issue.
• 1:24
  SPEAKER_00: So we don't have a lot of supply, but we do have a heightened buyer demand, and we will see that increase as we get into throughout March of this year, and then of course April, May, and June, which months hot houses are going to be very hot commodities for buyers out there.
• 1:40
  SPEAKER_00: My suggestion to you is just to make sure that when you're looking at this, depending on the high competition, what things you're willing to sacrifice, make sure you understand completely what those may be.
• 1:50
  SPEAKER_00: If you're going to condense time frames for your inspections, if you're going to condense the time frame in which you're going to be fully approved for a loan on that particular residence, do you do your investigations, those sorts of things, make sure you understand what that's actually going to mean in real numbers so you're capable of getting it done without feeling undue pressure.
• 2:10
  SPEAKER_00: But again, you're in competition with other buyers potentially.
• 2:13
  SPEAKER_00: They may be willing to make sacrifices, you're not.
• 2:16
  SPEAKER_00: Just get your lines in the sand so you know where you're going to go.
• 2:19
  SPEAKER_00: And this also applies very much to when they might come back in an offer format from the seller.
• 2:25
  SPEAKER_00: And the seller, of course, has their own agent.
• 2:27
  SPEAKER_00: You're best served to have your own on your side, not the same agent because, well, there's a dual agency thing, which is allowed in California, but you know, the seller's bottom line, now they know your bottom line, and so on.
• 2:38
  SPEAKER_00: So you have your own advocate when they do counterback.
• 2:41
  SPEAKER_00: If they do, and they're asking you to go higher than that current offer because maybe they have multiple offers.
• 2:47
  SPEAKER_00: I would throw a little bit of warning to you: make sure you have your line in the sand, the property price that you will not go above.
• 2:54
  SPEAKER_00: And if you lose it, it wasn't meant to be.
• 2:56
  SPEAKER_00: Talking about these online companies, when it comes to them advertising to you about how simple it is to sell your house.
• 3:04
  SPEAKER_00: You can be snow skiing in Aspen while your house is being sold in Kentucky.
• 3:09
  SPEAKER_00: I understand that there are certain costs too that you have to pay in order to utilize services that involve those type of strategies.
• 3:18
  SPEAKER_00: Also, the people that are going out there saying that we're going to buy your house directly from you.
• 3:22
  SPEAKER_00: Again, you need to look at the numbers.
• 3:24
  SPEAKER_00: So I would formulate a game plan, pencil it out, write it out somehow so you understand what price they're going to be selling your whole house for, what they're telling you, and then what the actual current value happens to be.
• 3:37
  SPEAKER_00: And then look at the numbers.
• 3:39
  SPEAKER_00: If they're not going to have you pay real estate commissions because they're buying it directly from you, what does that number look like?
• 3:45
  SPEAKER_00: And then what's the difference in the regular resale market as far as what agents, true agents, seasoned real estate agents are able to get for those same listings in your particular area?
• 3:56
  SPEAKER_00: One of the things that I always suggest is if you're going to go online looking at value, make sure you're careful because those systems do categorize the inquiries by address, and they'll be able to target your address and they'll be able to look you up in many different ways because of social media influences.
• 4:12
  SPEAKER_00: And if you're off the grid, good for you.
• 4:14
  SPEAKER_00: But if you're not, more than likely, they're going to dig up your email, your FMS, your text, your phone, and they're going to then sell that information to real estate agents that are in that market wanting to use it.
• 4:24
  SPEAKER_00: A better suggestion is to get to a local source, an actual local real estate that has the MLS backing that's able to do those property valuations, sight unseen.
• 4:35
  SPEAKER_00: And of course, further out, if you want to have somebody walk through your house, you then access that particular local agent as selfish plug here as we have at Santa Clarita Openhouses.com.
• 4:46
  SPEAKER_00: You'll be able to get a valuation on your residence and see where that current value happens to be.
• 4:51
  SPEAKER_00: Now it's going to be very house dependent, so maybe the ones in your neighborhood's neighborhood that sold in the last 180 days lack certain things that you happen to have done to your residents.
• 5:02
  SPEAKER_00: If that's the case, then it is going to take a little bit more of a hands-on approach because really to dial in your value to get you the most money for that property in the shortest amount of time possible, if that is in fact your strategy, is going to take a little finesse and a lot of knowledge and market experience.
• 5:18
  SPEAKER_00: Don't trust the online syndication systems, just be wary of it and understand once you do, your information is going to be out there for the highest bidder.
• 5:27
  SPEAKER_00: And finally, when these companies come to you, ask them straight out, hey, what is it, what's in it for you?
• 5:33
  SPEAKER_00: I understand you want to help me, and that's beautiful, and everything's perfect in the world.
• 5:37
  SPEAKER_00: Sunshine, rainbows, cotton candy, and unicorns, but what's in it for you and why is it more advantageous for me to go to you?
• 5:45
  SPEAKER_00: Because I don't mind a few people walking through my house and seeing and writing high offers.
• 5:50
  SPEAKER_00: I'm Connor with honor.
• 5:51
  SPEAKER_00: We'll see you in the next one.
• 5:52
  SPEAKER_00: Over and out.