Latest / Connor with Honor: AI, Real Estate and Real Life / If you want a real estate sign, my real estate sign in your front yard, than act like it in Santa Clarita real estate by SCV open houses
Transcript
- 0:00hey good day everybody
- 0:01it is Connor MacIVOR we are at 7: 28 20 24 I've been saying that all morning so sorry to say it July 28th 2024 this is your Sunday Santa Clarita update looking at the current inventory right now the 7 day market watches as follows over the past six days we've had six coming soon listings 82 new listings have entered the market that has been normal for the last four weeks approximately 77 properties have had their prices changed that is a little bit higher than we've been seeing and I've been tracking that over the past four weeks as well that price changes have become more and more prevalent and most of them are reductions in listing price they say price changes because that's the global result here my search system but when I actually break down the numbers we have a majority of those 90% in fact that are actually reductions in price back on market properties 22 active under contract properties 34 53 have gone pending 53 closed this last week that means actually sold and finished uh we have 2 expired 11 cancelled 8 have been put on hold and 3 have been withdrawn from the real estate market that brings us up to some grand totals here let me get those numbers up on the screen and then currently running all active inventory 476 total active listings all across the Santa Feta Valley cities yesterday went out for a little bit of a drive and got some photographs from for in some of the different communities out there for sale and we did happen just to come across houses that had signs on them that indicated they were for sale just a couple points out there if you're gonna be so bold as to have a real estate sign posted in your front yard announcing to everybody your home is for sale make sure that you do that extra due diligence and keep everything as far as curb appeal goes pristine and perfect you never know when somebody's gonna drive by and judge your house and maybe that person that drives by judging your house actually know somebody or they themselves are in the market to purchase real estate in your house fits the Bill now if you're not gonna put a real estate sign out front which is a very common option these days for whatever reason and there are some pros and cons to having signage as well that's something that I'll put together in another show but as far as what's happening with real estate science if you don't have one more than likely your house is only going to be found within an online search system which is probably well very much so the majority of the way real estate listings are obtained and that's via the online channels having said that I would hate to leave out some potential of maybe finding that perfect buyer so maybe not just limiting to the online systems but also having a real estate sign also having open houses hosted like we put up on Santa Clarita Openhouses com that is going to help expand that reach of your listing and in addition that might bring in even more more capable buyers and in a sellers perfect world people are competing over the residents on the other hand let's talk about buyers and interest rates it was said again yesterday in the media talking about September being the magical time when interest rates are gonna come down because it seems like inflation is reversing itself they're going to know more here in the next couple months but it's coming quick folks if you're waiting until that time to start at least getting pre approved and pre qualified as real estate buyers it could be too late and again they have been promising being on the other side of the coin they have been promising that they're gonna be doing an interest rate reduction for quite a while that being the case if it doesn't happen in September more than likely it's probably not gonna happen this year but if it does the standing inventory we have is so so little that we're gonna kick off a market where sellers are gonna have more multiple offers than they currently do buyers are gonna have a much higher level of competition and when that happens besides money besides real estate buyers using money as the catalyst to get their offer accepted they start to use other means they start to change time frames maybe reduce inspection time frames maybe say that they don't even need inspection they just wanna buy the house or whatever it may be their loan might be better than the other buyers and so on so this is some of the things that it's important for buyers to understand and also sellers if you're waiting to get your house on the market till September that might not be a bad idea however there's good and bad in both of those markets when you have a market that September could be of 2024 if interest rates do come down into the four 0 fives those people that are buying houses like I talked about before the for the buyers they're going to be facing high competition levels some of those buyers are gonna get caught up in that frenzy and maybe just to be competitive they're gonna have to increase their offering about buy a lot of money so much so that it will exceed the appraisal value on the residents that is a slippery slope ladies and gentlemen when you get into that time in September if in fact that's the way the market starts to trend you're going to see that with this high competition these buyers might also see other properties coming out of the market and think that they may be paid too much start to have that buyer regret and it comes out when they start to do the requesting for repairs or try to chisel more money out of you because they believe maybe at that time they pay too much for your residence both markets are exciting and I'm here to vet both and guide you through in the best way possible I'm Connor with honor please thank you so much please and thank you so much for watching I will talk to you soon please share this and be well ladies and gentlemen we'll talk to you soon thanks so much for watching I'm Connor with honor over and out