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Newhall Real Estate Market Update · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Welcome to the 19th of December.
• 0:01
  SPEAKER_00: I'm Connor McIver.
• 0:02
  SPEAKER_00: We're going to talk about New Hall real estate today.
• 0:05
  SPEAKER_00: Been looking at the numbers this morning.
• 0:06
  SPEAKER_00: Before I get into that, one of the chapters of my book, I talk about open houses.
• 0:11
  SPEAKER_00: And I don't know if you've ever been into one, but there are open houses that are hosted by agents that are incredibly inactive.
• 0:18
  SPEAKER_00: So they'll basically just kind of show you as you walk in and there's no interaction.
• 0:22
  SPEAKER_00: A lot of people might like that.
• 0:24
  SPEAKER_00: Maybe you're one of those people, kind of like myself.
• 0:26
  SPEAKER_00: I like to be left alone when I'm shopping to explore things.
• 0:29
  SPEAKER_00: But I do not mind information.
• 0:33
  SPEAKER_00: So whenever I'm educating my agents, I'm talking to the people that are working for me, or me myself, you want to give people information.
• 0:40
  SPEAKER_00: And of course, the obvious how many bedrooms, how many bathrooms.
• 0:44
  SPEAKER_00: Most people are already going to know this walking into an open house.
• 0:47
  SPEAKER_00: What to expect?
• 0:48
  SPEAKER_00: Because most of them have been looking at Santa ClaritaOpenhouses.com or other sites that are showing what the open houses happen to be.
• 0:56
  SPEAKER_00: But when they do and they walk in, there are things they might want to know that might not be mentioned within the data.
• 1:02
  SPEAKER_00: Like when was that air conditioner replaced?
• 1:05
  SPEAKER_00: Did that the seller have anything done to the roof prior to them putting the property on the market?
• 1:11
  SPEAKER_00: What other things did they do to prepare the property for sale?
• 1:14
  SPEAKER_00: Now everybody can go in and beautify and cover things with a little bit of carpet and duct tape to make it look a little bit better, but what did they actually do?
• 1:22
  SPEAKER_00: What kind of time did they invest into getting their property on the market for sale?
• 1:27
  SPEAKER_00: That means a lot for the people that are coming into open houses.
• 1:30
  SPEAKER_00: And don't forget, because the commission rules have changed, where it's basically always been negotiable between the people that are selling houses, whether or not they're going to offer a commission to the buyer's agent.
• 1:43
  SPEAKER_00: But now it's really out there for sure.
• 1:45
  SPEAKER_00: And a lot of cases, those particular sellers might not want to offer a commission to another agent.
• 1:51
  SPEAKER_00: But when they do, they definitely do it, understanding that it's better to have somebody on their side 100% with their own interest vested, versus having somebody that has a split or dual agency role where they're going to be working for the seller and now also for the buyer.
• 2:08
  SPEAKER_00: So a lot of sellers still look at it in that regard as if you wouldn't want to hire the attorney representing the person suing you.
• 2:15
  SPEAKER_00: Sellers don't want to use the same agent in the buyer representation of their home.
• 2:20
  SPEAKER_00: So we're also seeing that still move forward, but the amounts that are being asked for could make or break your proposition in buying their property.
• 2:29
  SPEAKER_00: So you want to make sure your buyer's agent is absolutely valuable and giving you everything that you need for the amount that they're charging, if in fact that charge is going to be attempted to be gotten from the real estate seller.
• 2:43
  SPEAKER_00: Now, if you're paying it, then that's something else to look at.
• 2:46
  SPEAKER_00: But in this particular market, I see open houses are starting to sell properties because people are looking at those instead of wanting to tie up with an agent when they go in.
• 2:57
  SPEAKER_00: Then after they see the residents, a lot of them are then reaching out, doing their search online, trying to find that agent to represent them that they like.
• 3:05
  SPEAKER_00: So don't disqualify people coming into open houses and make sure when you have your agent there, they're not just sitting on the floor hoping that the house is going to sell by some miracle, but they're actually giving value to the people coming in, taking a moment.
• 3:21
  SPEAKER_00: I'm not talking about pressure and saying, listen, use me to buy the house and so on.
• 3:26
  SPEAKER_00: I mean them what you did to the residents, maybe how long you've lived there is if it's an advantage, and they're going to find that out anyway.
• 3:33
  SPEAKER_00: If you're relocating, if that's going to be an advantage, but you should have your agent develop with you a particular script of things that they're going to talk about with the people coming into open houses.
• 3:44
  SPEAKER_00: Now let's talk about New Hall, California.
• 3:46
  SPEAKER_00: I put these numbers up this morning, and this will be all listed under the New Hall update at Santa ClaritaOpenhouses.com.
• 3:53
  SPEAKER_00: I'll put that together.
• 3:54
  SPEAKER_00: But currently in New Hall, California, as of today, the 19th of December, just a few days from Christmas, we have 110 active homes, residences averaging$985,000.
• 4:07
  SPEAKER_00: We have 32 condominiums at$500,000 just about there, and 15 town homes priced somewhere in the averages of$630,000.
• 4:15
  SPEAKER_00: Now, right now in escrow, in this Christmas time, we have this is New Hall.
• 4:21
  SPEAKER_00: 45 homes are pending in escrow, average price of$910,000,$12 condos at$475,000, 8 townhomes at$620,000 or thereabouts.
• 4:31
  SPEAKER_00: We have properties in backup offer position, again, also in escrow in New Hall, and there's$25 of those.
• 4:38
  SPEAKER_00: 900 grand is the median average, six condos, median average at$460,000, five townhomes at$600,000.
• 4:47
  SPEAKER_00: So this is what we're seeing.
• 4:48
  SPEAKER_00: And overall, Santa Clarita, 331 homes active, 100 condos, 44 townhomes.
• 4:54
  SPEAKER_00: So we're still seeing as real estate's moving through the holiday season, we have less competition for sellers, less competition for you buyers out there.
• 5:03
  SPEAKER_00: Once we get into next year's market, we're going to see that change dramatically where the listings are going to start to propagate the system in the MLS, and we're going to start seeing as there are going to be more buyers actually getting into the market.
• 5:17
  SPEAKER_00: Somebody asked me the other day how the economy and the future administration might hinder or help mortgage rates.
• 5:25
  SPEAKER_00: And I will tell you, when the economy's good, mortgage rates don't move too much.
• 5:30
  SPEAKER_00: So if you are going to be purchasing a residence, make sure that you're doing it, not based on any promise of any kind of interest rate break next year.
• 5:39
  SPEAKER_00: I do still see real estate increasing in price, 3% to 5%, very manageable for next year.
• 5:46
  SPEAKER_00: But again, no kidding and out-of-the-park type scenarios.
• 5:50
  SPEAKER_00: I believe that real estate in Santa Clarita Valley is going to continue to move at a very brisk pace if, for whatever reason, the Fed does happen to, or the 10-year bond does reflect that interest rates are going to come down.
• 6:04
  SPEAKER_00: If we see that, more than likely, if they come down enough, it's really going to kick off a frenzy for both sellers and buyers out there.
• 6:12
  SPEAKER_00: The biggest reason sellers aren't selling is a lot of them are locked in at a mortgage if they have one at a very low interest rate, 2 and 3%.
• 6:21
  SPEAKER_00: So they're holding on to those properties, even if they're going out and encumbering them in some way to be able to get money out to go purchase another residence.
• 6:30
  SPEAKER_00: We see a lot of that.
• 6:31
  SPEAKER_00: We also see a lot of out-of-state relocation.
• 6:34
  SPEAKER_00: People here in Santa Clarita Valley getting into that retirement realm.
• 6:38
  SPEAKER_00: They say, well, you know what?
• 6:39
  SPEAKER_00: We're going to leave the state.
• 6:40
  SPEAKER_00: We don't want to sell this property here, but we want to get it rented and managed.
• 6:44
  SPEAKER_00: That's something else to look at.
• 6:45
  SPEAKER_00: Hit me up if you're interested in that approach as well.
• 6:48
  SPEAKER_00: I'm Connor with Honor, Santa Clarita Open Houses.
• 6:51
  SPEAKER_00: This has been your update.
• 6:52
  SPEAKER_00: We are at the 19th of December, 2024.
• 6:55
  SPEAKER_00: When you're ready, please pick up a copy of the book.
• 6:57
  SPEAKER_00: You can get that at Santa Clarita Openhouses.com.
• 7:00
  SPEAKER_00: It's on Amazon.
• 7:01
  SPEAKER_00: It is a pleasure, and we will see you tomorrow show.
• 7:04
  SPEAKER_00: Tomorrow we're going to be doing Canyon Country, and then of course Casteak will be after that on Saturday.
• 7:10
  SPEAKER_00: And then Sunday, we'll do the Acton and Aqua Dulce show, and then we'll pull in Valencia back on Monday, Tuesday, Stevenson Ranch, Wednesday, Saugus, Thursday, New Hall.
• 7:20
  SPEAKER_00: Here we are, and then it continues.
• 7:22
  SPEAKER_00: Please check out Santa Clarita Openhouses.com.
• 7:25
  SPEAKER_00: There's a bunch of videos out there as well.
• 7:27
  SPEAKER_00: If you're going to Google and pulling down a search, if you haven't had Chat GPT enabled on that, if you're using that platform and you're doing just a regular search, click on videos with anything.
• 7:37
  SPEAKER_00: I'm sure you'll find one of my videos corresponding to almost every subject matter you can imagine with regard to Santa Clarita Real Estate or Santa Clarita open houses.
• 7:48
  SPEAKER_00: I'm Connor with Honor, over and out.