Latest / Connor with Honor: AI, Real Estate and Real Life / First Responder Turned Realtor: Santa Clarita Real Estate Today

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First Responder Turned Realtor: Santa Clarita Real Estate Today · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Wednesday, May 15th, 2024.
• 0:02
  SPEAKER_00: Good day, everybody.
• 0:03
  SPEAKER_00: I am Connor with Honor.
• 0:04
  SPEAKER_00: This is going to be your real estate update for Santa Clarita Valley.
• 0:07
  SPEAKER_00: I do have a couple tips that I'm going to throw out there for potential sellers in the world and also those real estate buyers out there, but let's get to this.
• 0:14
  SPEAKER_00: Currently, today we have 362 total listings on the market for sale in all of Santa Clarita Valley.
• 0:22
  SPEAKER_00: That's going to include the cities of Castilla, Canyon Country, New Hall, Saugus, and Stevenson Ranch, and Valencia.
• 0:27
  SPEAKER_00: So of that, I'm going to break this down for you.
• 0:29
  SPEAKER_00: 90 condos, 90 condominiums within that 362.
• 0:34
  SPEAKER_00: So 90 are condos, 236 are single-family residences, and 36 are townhomes.
• 0:40
  SPEAKER_00: Typical differentiation between the condominium and a townhome.
• 0:44
  SPEAKER_00: Condominium is going to be like a box-styled apartment, going to have neighbors potentially above, below, and on the sides.
• 0:51
  SPEAKER_00: For townhomes, usually you might share a wall or two, but usually you have the space below you and you own the space above you typically.
• 1:01
  SPEAKER_00: Now that's usual California description of those.
• 1:04
  SPEAKER_00: Let's get into the rest of the real estate inventory.
• 1:06
  SPEAKER_00: As far as coming soon goes, we have 13 properties that have entered the market last seven days coming soon.
• 1:11
  SPEAKER_00: 52 properties have entered the market this past week.
• 1:14
  SPEAKER_00: We have 50 properties that have had their prices changed.
• 1:16
  SPEAKER_00: These are majority reductions, just overzealous sellers.
• 1:21
  SPEAKER_00: I always suggest to my buyers and my sellers.
• 1:23
  SPEAKER_00: Let's look at the comps together and figure out what a good pricing strategy would be.
• 1:27
  SPEAKER_00: And then, of course, a good offering strategy.
• 1:30
  SPEAKER_00: But some of the properties that go out higher as far as start being advertised as higher, having a higher than the last sold list price, in some markets, that does create a problem for the seller and delays the potential sale of a real estate listing.
• 1:45
  SPEAKER_00: It doesn't take long, though, after your house starts to show to get feedback from people, reflective of price and maybe other things that you might have missed in the preparation for the sale.
• 1:56
  SPEAKER_00: But for the most part, whenever an agent takes a listing, they should be doing their due diligence, stacking up all the competition if they exist, and then having that house on the market.
• 2:05
  SPEAKER_00: So we have back on market properties 20, which fits in with that segment.
• 2:09
  SPEAKER_00: What happens is properties actually move through the escrow process pretty gingerly.
• 2:14
  SPEAKER_00: It just depends on what happens, what outside influences occur, what types of employment verification happen, how difficult it is to get those particular documents from HR or whatever employer the buyer happens to have.
• 2:28
  SPEAKER_00: In some cases, though, that being said, the properties don't actually make it all the way through.
• 2:33
  SPEAKER_00: We have 20 of those properties that have fallen out of escrow, enter back on the market for sale.
• 2:38
  SPEAKER_00: 30 houses have gone active under contract.
• 2:40
  SPEAKER_00: 51 properties have sold this past week in Santa Clarita Valley Cities.
• 2:44
  SPEAKER_00: We do have nine listings that have been canceled.
• 2:46
  SPEAKER_00: 11 have been put on hold, and we have four properties that have been withdrawn from the Santa Clarita market.
• 2:52
  SPEAKER_00: Sorry for the stumbling.
• 2:53
  SPEAKER_00: I'm working on it.
• 2:54
  SPEAKER_00: All right, so what let's talk about this.
• 2:56
  SPEAKER_00: So as a first responsor, first responder turn realtor, definitely I bring a unique perspective when it talks about real estate, when people talk about it when I approach my sellers and buyers.
• 3:08
  SPEAKER_00: So for a buyer with 52 listings this week on this market, it is interesting for you to look at those listings and then gauge those with the past inventory that you've been looking at and then look at those adjustments as far as price goes.
• 3:24
  SPEAKER_00: You know we have very high inflation numbers and interest rates as far as historically aren't high, but they are high as far as present-day market and the way the news and everything else is reporting.
• 3:36
  SPEAKER_00: One of the things I would tip a buyer off to is to check with your CP or tax accountant, or if you do your own taxes, check into the savings you're going to incur by being able to write off your mortgage interest.
• 3:51
  SPEAKER_00: Check that out because in a lot of cases, that is a lot of money you by renting are leaving on the table.
• 3:59
  SPEAKER_00: In addition, when you rent, you are paying whose mortgage?
• 4:03
  SPEAKER_00: Somebody else's.
• 4:04
  SPEAKER_00: Something else to consider.
• 4:06
  SPEAKER_00: And then the final step in that whole buyer drive is see, figure out or investigate that feeling, that pride of ownership when it's your property, how that's different than if the property is a rental.
• 4:19
  SPEAKER_00: Usually, when there's high ownership of property in areas by the people that live there, it would seem the neighborhoods tend to fare a lot better from anybody trying to come in and commit crimes and those sorts of things, because it seems most of the people, because they are all property owners, really value the areas and they take care of them.
• 4:42
  SPEAKER_00: Being in that area versus in an apartment is going to be different for you.
• 4:46
  SPEAKER_00: So that's also an adjustment you as a buyer should make.
• 4:49
  SPEAKER_00: For you sellers out there, just something that I'm going to continue to harp on.
• 4:54
  SPEAKER_00: There are folks out there trying to buy residences, and at no fault of their own, they're getting bad advice from the real estate agents and real estate lenders.
• 5:03
  SPEAKER_00: That being the case, they're not being fully vetted or fully approved for a home loan.
• 5:09
  SPEAKER_00: The home loan that they have on a piece of paper that they have given to you via your agent through whomever they're being represented by, and that piece of paper says, Mr.
• 5:20
  SPEAKER_00: and Mrs.
• 5:20
  SPEAKER_00: Jones, fully approved for a mortgage for your residence, and you might even get a phone call from the lender, which is great.
• 5:28
  SPEAKER_00: But the questions are these, and this is what I ask to the lender how much have you done for the client?
• 5:35
  SPEAKER_00: I appreciate the approval letter.
• 5:36
  SPEAKER_00: I'm sitting here with my seller, I have the offer in front of me.
• 5:39
  SPEAKER_00: We need to just understand what you've done.
• 5:42
  SPEAKER_00: Well, I've gotten their numbers over the phone from them, and that's it.
• 5:46
  SPEAKER_00: Okay.
• 5:47
  SPEAKER_00: That's not a good place for us as a real estate seller because they've done very little vetting of the buyer.
• 5:55
  SPEAKER_00: Buyers don't know.
• 5:57
  SPEAKER_00: Most of them go in very fresh.
• 6:00
  SPEAKER_00: Buyers are usually of a younger variety, it seems, at least the first time, right?
• 6:04
  SPEAKER_00: Everything kind of goes to the younger the first time.
• 6:07
  SPEAKER_00: But they don't have a lot of knowledge, so they don't know those right questions to ask unless they have a good guide.
• 6:13
  SPEAKER_00: And in most cases, a lot of people don't want to share their behind-the-curtain secrets like in The Wizard of Oz.
• 6:19
  SPEAKER_00: I will tell you this: you want to work with people that are going to cover the A to Z of it.
• 6:24
  SPEAKER_00: They don't have to teach you how to do their business, but at least teach you how to protect yourself.
• 6:28
  SPEAKER_00: That goes for you sellers out there and you real estate buyers out there.
• 6:32
  SPEAKER_00: I've been working hard in this industry since '98, and there is a lot of folks that kind of fall short of that whole mark of having some kind of COVID and honor and maybe being able to go to sleep at night without having to worry about somebody breaking in and beating them up because of how they screw them in a real estate transaction.
• 6:49
  SPEAKER_00: I don't want that.
• 6:51
  SPEAKER_00: So we deal with people fairly equitably, equitably, equitably, and also make sure that when we're dealing with people, we deal with them as if we would want ourselves dealt with by a person in that particular industry.
• 7:05
  SPEAKER_00: I'm Connor with Honor.
• 7:06
  SPEAKER_00: That's your real estate update.
• 7:07
  SPEAKER_00: Connorwithhonor.com, I will post this information as well at Connorwithhonor.com.
• 7:13
  SPEAKER_00: Also, I did include multiple listing search engine.
• 7:17
  SPEAKER_00: So if you go there up on the clop, the clop, the top part of the website, you can search for houses.
• 7:22
  SPEAKER_00: That is an actual unlocked multiple listing service.
• 7:25
  SPEAKER_00: I think it gives, I think I was able to max that out 17 or 20 searches before it's going to say, hey Jack, why don't you give me some of your information so I can share it with Connor?
• 7:34
  SPEAKER_00: Maybe Connor can help do a better search for you or help supplement your church search by looking at maybe some off-market stuff.
• 7:42
  SPEAKER_00: I do get occasionally hit with that, and maybe that would help.
• 7:45
  SPEAKER_00: Check it out, Connorwithhonor.com.
• 7:47
  SPEAKER_00: It is my pleasure.
• 7:48
  SPEAKER_00: Thank you so much for listening to your Santa Clarita real estate update.
• 7:53
  SPEAKER_00: I'll be 55 in a couple days, but I don't want to get any people sending me fancy stuff.
• 7:58
  SPEAKER_00: Anyway, hope everybody's well.
• 7:59
  SPEAKER_00: We'll talk to you soon and thank you for watching.
• 8:01
  SPEAKER_00: Talk to you later.
• 8:02
  SPEAKER_00: Connor with Honor over and out.