Latest / Connor with Honor: AI, Real Estate and Real Life / Only 6 coming soon homes? It's starting to happen faster than they thought!

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Only 6 coming soon homes? It's starting to happen faster than they thought! · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Everybody, December 3rd, 2024.
• 0:03
  SPEAKER_00: No, it's not.
• 0:04
  SPEAKER_00: It's January 3rd, 2024.
• 0:06
  SPEAKER_00: I'm Connor with Honor.
• 0:08
  SPEAKER_00: Quick real estate update here in Santa Cruz Valley, all over with Castilla Canyon, Country, New Hall, Saga, Stevenson Ranch, and Valencia, 226 total listings for sale.
• 0:18
  SPEAKER_00: We have looks like one, two, three, seven coming soon.
• 0:21
  SPEAKER_00: One's a townhouse, one on Orange, if any of these streets ring a bell.
• 0:25
  SPEAKER_00: Brainberry, Olympic Crest, Seiko Canyon, Brookview, Via Barra, Brighton Drive, number A.
• 0:33
  SPEAKER_00: So these are the streets.
• 0:34
  SPEAKER_00: If you've been looking any of these neighborhoods, I know that they're popping into your brain right now.
• 0:38
  SPEAKER_00: Saying, oh my gosh, Orange Lane.
• 0:40
  SPEAKER_00: Hey, they didn't have the area, honey, that we like.
• 0:41
  SPEAKER_00: Oh, yeah, baby, that's it.
• 0:43
  SPEAKER_00: And then boom, here we are.
• 0:44
  SPEAKER_00: So that's something we want to look at.
• 0:46
  SPEAKER_00: You to see this inventory, best suggestion is if you're not working with an agent, get it directly from the multiple listing service.
• 0:55
  SPEAKER_00: I can send you my open source site so you'll be able to have direct access into the multiple listing service.
• 1:01
  SPEAKER_00: All I need is your name and an email address.
• 1:04
  SPEAKER_00: And I actually don't even need to know what you're looking for.
• 1:08
  SPEAKER_00: I'll just give you open access.
• 1:10
  SPEAKER_00: You can go in there and pull whatever you want.
• 1:12
  SPEAKER_00: But if you would like to send me exactly what you're looking for, I can also dial down that search.
• 1:18
  SPEAKER_00: And what I'll do, I can actually keep it open so you can search beyond those parameters as well.
• 1:24
  SPEAKER_00: So whichever way works for you, let me know.
• 1:27
  SPEAKER_00: I am Connor with Honor.
• 1:28
  SPEAKER_00: You'll find me online.
• 1:29
  SPEAKER_00: Uh well, just Google Connor with Honor.
• 1:32
  SPEAKER_00: So that's the real estate update here.
• 1:34
  SPEAKER_00: A total of 226 active listings, and I'll give you a little bit of a historical rendition here.
• 1:42
  SPEAKER_00: Back in the day, our inventory was not as monitored as it is now.
• 1:49
  SPEAKER_00: Right now, you can see that if we track back even two and three years, the listings that we had on the market were low, but nowhere near this level.
• 1:57
  SPEAKER_00: We had at least 350 to 400.
• 2:00
  SPEAKER_00: That was very much an average.
• 2:02
  SPEAKER_00: Now, close to half of those numbers, that's where our inventory sits as we begin 2024.
• 2:09
  SPEAKER_00: So there's a couple questions that people have currently.
• 2:12
  SPEAKER_00: Number one, is real estate actually going to collapse and is the bottom going to fall out?
• 2:18
  SPEAKER_00: I would say no to that just because where it fell out before had to do with the lending process and what it took to obtain a loan.
• 2:30
  SPEAKER_00: Basically, the showing of proof on the side of the home buyer to the lender on how capable they are of buying a home.
• 2:36
  SPEAKER_00: And it seemed like anybody that pretty much had any kind of employment was able to qualify for these astronomically high loan levels where if something stops on their end, maybe overtime stops, maybe they have more deductions, maybe somebody gets sick.
• 2:54
  SPEAKER_00: If something changes in their financial profile, it made it so they couldn't do anything but lose the home.
• 3:01
  SPEAKER_00: There was no other option because that's how top-heavy those loans were and those approvals were.
• 3:07
  SPEAKER_00: So that's where that market fell out.
• 3:09
  SPEAKER_00: Currently, that wouldn't be the reason, but if we had a massive economic shutdown of the entire world, a global collapse of sorts, probably that would probably do a good job.
• 3:19
  SPEAKER_00: But as it is now, it looks like we're on track not to have that, and everything looks wonderful.
• 3:24
  SPEAKER_00: 226 active listings as of today.
• 3:26
  SPEAKER_00: Right now, we do see this fluctuating.
• 3:30
  SPEAKER_00: We are within just a couple of weeks with regard to getting to zero listings, if no more replenish the market.
• 3:38
  SPEAKER_00: That term is called absorption rate, and it's used quite frequently.
• 3:42
  SPEAKER_00: So basically, if we sold everything at the rate that they're currently closing, it'd take about two weeks to finish all of our inventory if nothing else came on the market.
• 3:50
  SPEAKER_00: A healthy market is six months, that would equate to over 1,200 listings, needing to be on the market to make the market completely even across the board.
• 4:00
  SPEAKER_00: I'm Connor with Honor.
• 4:01
  SPEAKER_00: Let me know if I can help.
• 4:03
  SPEAKER_00: Welcome to 2024.
• 4:05
  SPEAKER_00: Be well.