Latest / Connor with Honor: AI, Real Estate and Real Life / Canyon Country real estate update a Santa Clarita City by Santa Clarita Open Houses week 1 of 2025

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Canyon Country real estate update a Santa Clarita City by Santa Clarita Open Houses week 1 of 2025 · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Good day everybody.
• 0:00
  SPEAKER_00: Here's what you're going to need to know about January 3rd, 2025, and Santa Clarita real estate.
• 0:07
  SPEAKER_00: We're going to start with a breakdown of the entire Santa Clarita Valley market.
• 0:11
  SPEAKER_00: We're going to show you what's happening in the last seven days and where you need to be considering as we get into this first couple weeks of January 2025 if you're thinking about buying or selling anything.
• 0:24
  SPEAKER_00: First and foremost, when we break down all of the Santa Clarita Valley cities, look at the market activity.
• 0:30
  SPEAKER_00: We like to start with how many listings are currently listed on the market, then break those down into a seven-day snapshot.
• 0:38
  SPEAKER_00: So currently in all of Santa Clarita Valley, we are looking at a total number of listings at 438 total active listings are on the Santa Clarita Valley market for sale.
• 0:50
  SPEAKER_00: That's going to include single-family residences, that's going to include condominiums and also townhomes.
• 0:56
  SPEAKER_00: In addition, that seven-day breakdown looks like we've had five properties coming soon.
• 1:02
  SPEAKER_00: 43 properties have been listed in the last seven days.
• 1:05
  SPEAKER_00: That's quite a few, considering that we just finished that week after Christmas, which is very slow by historical records.
• 1:13
  SPEAKER_00: We have 15 properties that have had their prices changed.
• 1:17
  SPEAKER_00: These properties having their prices changed are now more in alignment with the buyers looking out there at the real estate.
• 1:25
  SPEAKER_00: We're going to watch, though, as I did a show yesterday on Valencia looking at how many listings enter the market right after the new year.
• 1:43
  SPEAKER_00: We start seeing a lot of listings at the market.
• 1:46
  SPEAKER_00: So that 400, that figure that was 400 and listings, that's going to kick up into the 500s before too long.
• 1:55
  SPEAKER_00: So that's going to mean there's going to be more competition with real estate sellers.
• 1:59
  SPEAKER_00: In addition, very typically, there's also going to be more buyers at that time starting to look at real estate.
• 2:06
  SPEAKER_00: So we have 15 properties, like I said, that had their prices changed.
• 2:10
  SPEAKER_00: 15 properties have gone back on the market.
• 2:12
  SPEAKER_00: These are properties that had their escrow's canceled with whatever buyers were in process and now they're back on the market for sale again.
• 2:20
  SPEAKER_00: 17 properties have gone active under contract in escrow.
• 2:23
  SPEAKER_00: 20 have gone pending.
• 2:24
  SPEAKER_00: So we have almost 40 listings, 37 to be exact, that are currently in the escrow process, waiting to close.
• 2:31
  SPEAKER_00: 35 closed this last week, which is a very low number, but indicative of time of year.
• 2:36
  SPEAKER_00: 22 properties expired, six canceled, eight put on hold, five have been withdrawn.
• 2:41
  SPEAKER_00: One of the things that I would say with the expired listings at 22, a lot of people had those listings apparently expiring towards the end of the year in that past week.
• 2:52
  SPEAKER_00: That's what we see in that number.
• 2:54
  SPEAKER_00: That just basically means they did not sell in the contractual time frame given.
• 2:59
  SPEAKER_00: There could be various reasons for that.
• 3:02
  SPEAKER_00: Mostly those reasons have to do with those properties being priced incorrectly for the market.
• 3:08
  SPEAKER_00: Now, maybe the sellers aren't ready to sell those properties at the prices that they were attempting to sell them for.
• 3:15
  SPEAKER_00: Maybe they need uh they needed to sell them at prices, but they're not willing to sell them at less than that to try to get buyers in those properties.
• 3:25
  SPEAKER_00: We'll see what happens this next year, but as I did my estimations for my 2025 predictions, it looks like more than likely we're going to be up three to eight percent this year.
• 3:37
  SPEAKER_00: Now, as far as active listings, zeroing in on Canyon Country, that's today's update.
• 3:42
  SPEAKER_00: We go from$369,800 for a condo to$1.8 million practically for a large home for sale in Canyon Country.
• 3:52
  SPEAKER_00: We have that median price running around$725,000.
• 3:56
  SPEAKER_00: Also, with that sales to list price ratio that I love to talk about, Canyon Country is real good.
• 4:03
  SPEAKER_00: 99.9% of those properties listed for sale are getting exactly what those sellers want as far as the money, the offerings on those properties, getting into escrow and closing on those properties.
• 4:17
  SPEAKER_00: Average days on market is 63 days, and this definitely indicates the moderate pace of sales as we've been seeing through the holiday season.
• 4:26
  SPEAKER_00: Now, as far as closed sales, 35 properties closed last month in Canyon Country, and the sales were ranging from 380 to just over$1 million.
• 4:36
  SPEAKER_00: Canyon Country seems to appeal to a lot of first-time buyers because the price point is a little bit less than other cities in Santa Clarita Valley.
• 4:44
  SPEAKER_00: Schools are great, you have great proximity to freeways and access to Los Angeles, and of course, all the other amenities exist there.
• 4:52
  SPEAKER_00: You have great shopping and you have Costco over there in Canyon Country and so on.
• 4:57
  SPEAKER_00: So there's a very nice space for a lot of buyers in Canyon Country.
• 5:02
  SPEAKER_00: So they do love that area.
• 5:04
  SPEAKER_00: Also, one of the things that I would mention, we do see mortgage rates stabilizing about mid-sixes.
• 5:11
  SPEAKER_00: It's going to depend on your credit profile.
• 5:13
  SPEAKER_00: But looking at that, I would suggest if you're going to be looking around online, be wary of some of the systems that you're looking at as far as trying to figure out what interest rates and mortgage rates are.
• 5:24
  SPEAKER_00: It depends on a lot of factors.
• 5:27
  SPEAKER_00: But if you're going to go to a site, don't click on too much and don't give up your personal information.
• 5:32
  SPEAKER_00: But bankrate.com usually has pretty good forward-facing mortgage rates, and you kind of get an idea.
• 5:40
  SPEAKER_00: So then if you want it, that rate is, if you believe that what that's where you would probably qualify for, just to guide.
• 5:48
  SPEAKER_00: You can then go to Santa Clarita Openhouses.com very simply and you can look up a property there.
• 5:56
  SPEAKER_00: And that that's my system, so you don't have to worry about giving up any of your personal information is completely unlocked.
• 6:02
  SPEAKER_00: But do a search, find a house in there that you think you like, and then you can look at how much that payment's going to be, depending on whatever down payment you have.
• 6:13
  SPEAKER_00: Now, this is a very raw preliminary search for real estate, but as real estate buyers, like I tell mine, when you're ready, you're ready.
• 6:21
  SPEAKER_00: And then you want to reach out to your state professional so they can align you with a real estate lender that will get your information from you and then let you know about the different loan programs out there that fit best with your current financial picture.
• 6:38
  SPEAKER_00: You might be looking at something that has only 3.5% down requirement.
• 6:42
  SPEAKER_00: Maybe you're a veteran.
• 6:44
  SPEAKER_00: We work with a lot of veterans where you don't have to put any money down when you're purchasing a residence.
• 6:49
  SPEAKER_00: So that's something else to consider.
• 6:51
  SPEAKER_00: Or maybe you're somebody that's really good at monitoring their savings, or maybe have a family member that's able to give you a gift and you can come in with 20% down or more.
• 7:02
  SPEAKER_00: That's another scenario that's going to offer you probably one of the most competitive interest rates that's imaginable.
• 7:10
  SPEAKER_00: These are things to look at before you get into real estate.
• 7:13
  SPEAKER_00: And also, if you were pre-qualified for a loan last year in 2024, but it never came to fruition for whatever reason, make sure you reach out to your lender again.
• 7:25
  SPEAKER_00: Or if you don't like the agent you're with and you're not in contract with them or you want to cancel that buyer broker agreement if you happen to be in one and you want to jump ship and go to somebody else, don't worry about it.
• 7:37
  SPEAKER_00: Just make sure you get clarification from them.
• 7:40
  SPEAKER_00: Any kind of follow-up you you create between you and them, make sure that you have established in writing.
• 7:46
  SPEAKER_00: Because when you're trying to cancel a contract like a buyer broker agreement, it's because you want to switch agents, you don't believe they're serving your needs.
• 7:54
  SPEAKER_00: That's good to have a paper trail so they have the information that you've tried to convey about why you don't want to work with them anymore.
• 8:03
  SPEAKER_00: And then, of course, sign up with somebody else, and then that other agent will have you another buyer broker agreement because that's what's required now.
• 8:11
  SPEAKER_00: Just look at the agreement and find out on there what you're going to be paying if the seller isn't paying commission, and then see if that agent is worth it with the value that they will give you.
• 8:24
  SPEAKER_00: And a lot of the value you're going to see in the online channels where they're posting information about the real estate market, about what to watch out for, about how to keep yourself safe, and those sorts of things, that's good value versus somebody that's just talking about the last trip to Tahiti that they took and so on.
• 8:45
  SPEAKER_00: I'm Connor with Honor.
• 8:46
  SPEAKER_00: Thank you for watching.
• 8:47
  SPEAKER_00: We will talk to you in the next one.
• 8:49
  SPEAKER_00: We'll be back tomorrow with your Castac real estate update.
• 8:52
  SPEAKER_00: Also, if you go to Santa Clarita Open Houses and you're venturing out to look at open houses, understand that some of those agents that are hosting those open houses aren't actually the listing agent.
• 9:05
  SPEAKER_00: They're just an agent that likes to do open houses, trying to get leads as far as buyers go.
• 9:11
  SPEAKER_00: I'm Connor with Honor.
• 9:12
  SPEAKER_00: We'll see you in the next one.
• 9:14
  SPEAKER_00: Over and out.