Latest / Connor with Honor: AI, Real Estate and Real Life / ALMOST broke a listing record for Santa Clarita Valley real estate on the last day of February 2025
Transcript
- 0:00last day of February 2025 good day everybody 91 new listings hit the market in the past seven days throughout the entire Santa Clarita Valley City what does that mean for you as a real estate buyer and also real estate seller it's gonna create some pressure on the sellers out there because there's gonna be more competition and if you have a property that happens to be for sale you've been teetering back and forth but you know between should reduce the price or give it a little bit more time then all of a sudden things as they sometimes are you'll have some competition enter into your neighborhood and maybe they don't have to make that same profit as you do maybe they have less that they own the property whatever it may be maybe they have to sell because of other reasons divorce disease death but you'll see that if those properties do come onto the market in direct competition with yours that price points gonna become incredibly important for the buyers out there they will see this information I was talking to a previous seller earlier we were talking about the real estate market and they were asking me why is it that these syndication websites show so much information about their houses because it's all public record and their opinions as far as values go they put those out there depending on who happens to be looking at the site if they have buyers looking at the site they will try to make it more attractive to the buyer to try to get more views on that particular property and if they're looking at sellers if sellers to be looking at the site they will be trying to tempt those sellers into giving up their property address name email and phone number so they can resell the information in the way of obtaining what their property happens to be worth as if it's going to be in direct competition with the sellers out there currently listed on the market when you're looking at real estate from all Vantage points you wanna make sure you use a local source like Santa Clarita Openhouses com that's my system it's unlocked and you're not gonna face any of the nonsense there's not any ads there it's just me myself and I I write blogs day about the local market so you can get information now there are some grant programs out there I was talking to a lender there's also different loan types that don't require any money down IE a USDA type loan for residential real estate and we do have some properties that fit within that particular criteria so it'd be almost buying a property as if you had a veteran's loan but weren't a veteran but the properties have to fit in a particular profile before they're able to be utilized for that program as far as down payment amounts you have many you can just basically call your shot most everything that has less than 20% down though is going to carry an extra fee called PMI or property mortgage insurance for you buyers out there that may some be something that you wanna pay attention to because that number can be hundreds of dollars per month defending that that's something to into when you are borrowing money and if you're so close to 20% and might be able to borrow from a relative to be able to make up the difference and that fit with fits within profile and your Fico score and all that other fancy stuff and is able to be have that deal cut is able to have that deal actually go through with you being able to borrow money to contribute that might be a better place to be in the long term even if you have to repay that something to look at and something to consider in addition looking around online at Santa Clarita Openhouses com I see a lot of homeowners association do is that if the new housing the seem to be over a thousand dollars or 12 dollars a month that is a bunch of money folks but again the more we get into the future I believe those amounts just like the melarus taxes and special assessments are something that are much more accepted now than they were even 20 years ago or 26 years ago when I started in the business 27ha look at that look at Santa Clarita Openhouses com you can check the blog there also I have other things that I have placed placed there you can see the properties that are currently listed for sale that's all of them including that you can also see open houses as they're posted and put on the market so if you're out there looking around you can feel free to use that resource now I will tell you there are some buyers out there that are basically wanting to use the listing agent or the sellers agent when you go purchase a car and I understand the price point depending on the car the price point is less than residential real estate least for the most part but when you go into a car dealership you're dealing with the agent representing the seller it would be cool if you could go in with your own person which you know some of us that are very good at that to do all the negotiation and because they already know the inner workings of dealerships to be able to get the bottom line on that car without you having to spend six hours standing up walking out coming back in and those sorts of things with residential real estate that's already baked in you can have your own agent representing you as has been historically the record but right now there are differences with regard to how that agents going to get paid so when you are out there getting ready to look at property and your agent is telling you to sign a buyer broker agreement they have to do it because that's now part of the process the terms of that buyer broker agreement are completely negotiable if they're charging you a fee you don't see the value talk to them about it I'm Connor with honor we will see you in the next one and thanks for watching some other big problems out there depending on the borrowing amount and other criteria