Latest / Connor with Honor: AI, Real Estate and Real Life / Super computer power for Santa Clarita home sellers and yes, I had to go with the fancy lights

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Super computer power for Santa Clarita home sellers and yes, I had to go with the fancy lights · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: July 8th, 2024.
• 0:02
  SPEAKER_00: I am Connor with Honor.
• 0:03
  SPEAKER_00: This is your daily Santa Clarita real estate update.
• 0:06
  SPEAKER_00: I have been doing this since 1998.
• 0:08
  SPEAKER_00: Not the updates, updates start about 06-07.
• 0:11
  SPEAKER_00: But at that time, that's kind of when the internet kind of began to get exciting.
• 0:15
  SPEAKER_00: And here we are today.
• 0:17
  SPEAKER_00: I don't even know what to talk about today.
• 0:19
  SPEAKER_00: But I'll tell you about this local inventory and what's happening in our local market.
• 0:23
  SPEAKER_00: In Santa Clarita Valley, currently active inventory.
• 0:27
  SPEAKER_00: We are right about 431 active listings.
• 0:30
  SPEAKER_00: This is going to be single-family residences, condominiums, townhomes, all across the Santa Clarita Valley cities.
• 0:36
  SPEAKER_00: It's going to include the cities of Castella, Canyon Country, New Hall, Saugas, Stevenson Ranch, and Valencia.
• 0:43
  SPEAKER_00: In these cities, the properties that are listed for sale currently do not last very long on the market.
• 0:49
  SPEAKER_00: The least time on market would be Stevenson Ranch, followed by Valencia and Saugas in close proximity to each other, about shoulder to shoulder.
• 0:59
  SPEAKER_00: And how long are we talking from a property entering the active inventory until it goes into escrow?
• 1:06
  SPEAKER_00: Less than a couple weeks in most cases in Santa Clarita Valley.
• 1:10
  SPEAKER_00: If there are properties that are lasting a little bit longer than that, it could be that the price range is a little too saturated with those listings, or it could be that the buyers that are looking in those price ranges aren't interested in those areas or the types of housing being offered.
• 1:26
  SPEAKER_00: But dollars to donuts, you probably won't last very long if you list your house on the market for sale right now.
• 1:34
  SPEAKER_00: We have a couple factors.
• 1:36
  SPEAKER_00: Of course, inflation and interest rate staying the same isn't helping.
• 1:42
  SPEAKER_00: Election might be helping a little bit.
• 1:44
  SPEAKER_00: People wanting to kind of get something and hunker down, we who knows what's going to happen.
• 1:49
  SPEAKER_00: And on the other end of it, we do have the timeliness for schools.
• 1:53
  SPEAKER_00: People that want to get their kids into a different school area or district.
• 2:06
  SPEAKER_00: Saugus is an example.
• 2:09
  SPEAKER_00: There are Blue Ribbon schools in Valencia as well, Stevenson Ranch.
• 2:13
  SPEAKER_00: So you do the math on that.
• 2:14
  SPEAKER_00: But what ends up happening is sellers that live in those areas selling those residences can usually mandate more for their residences than those houses that usually aren't looking or attracted to the family type structure, maybe senior housing or whatever, but it just isn't apples to apples in comparison.
• 2:35
  SPEAKER_00: That's where our market is currently.
• 2:36
  SPEAKER_00: One of the things I will tell those buyers out there, when you're looking online for interest rates, don't get teased into some nonsense because a lot of the lenders, well, just like a lot of the real estate agents, we're going to be putting crap out there that's going to get you interested.
• 2:50
  SPEAKER_00: And oh my gosh, let's see what this guy's talking about.
• 2:52
  SPEAKER_00: He's amazing.
• 2:53
  SPEAKER_00: And all of that, the problem is, is with a lender, when you give up any personal information online and you see those interest rates to get you to move further, those interest rates are only for people that fit into the requirements to be able to get those interest rates.
• 3:09
  SPEAKER_00: So if you're outside of that box, the coveted perfect, you know, top-level credit box, if you're outside of it, unfortunately, you're not going to be able to get that best interest rate.
• 3:21
  SPEAKER_00: So go with the lender that's going to give you that best market rate at the time.
• 3:26
  SPEAKER_00: But understand until you lock your loan, until you find that house that you want, write the offer, have it accepted, and then begin to offer open escrow, usually your interest rate lock hasn't happened up until that point.
• 3:40
  SPEAKER_00: So you being promised online a 3% interest rate and you getting all giddy and excited doesn't really apply.
• 3:47
  SPEAKER_00: I hope everybody is well.
• 3:49
  SPEAKER_00: Thank you so much for watching.
• 3:50
  SPEAKER_00: I am Connor with honor, over and out.