Latest / Connor with Honor: AI, Real Estate and Real Life / Santa Clarita Real Estate Update: Buyers, Sellers, AI, and Open House Privacy

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Santa Clarita Real Estate Update: Buyers, Sellers, AI, and Open House Privacy · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Real estate moves up and down every single day.
• 0:02
  SPEAKER_00: This morning we have 834 active listings.
• 0:06
  SPEAKER_00: I think yesterday it was around 846 if memory serves.
• 0:08
  SPEAKER_00: I do these every day, so you can see all that real estate intel at Santa ClaritaOpenhouses.com.
• 0:14
  SPEAKER_00: Yesterday I did a couple shorts, one of them talking about AI, people using artificial intelligence in their real estate endeavors.
• 0:21
  SPEAKER_00: And this goes always, folks, like so many other things.
• 0:25
  SPEAKER_00: This goes always.
• 0:26
  SPEAKER_00: It goes the same way with agents using it, lenders using it, clients using it, buyers using it, sellers using it, and asking those questions and just verifying if they're being BSed in any part of the way.
• 0:38
  SPEAKER_00: And you know what?
• 0:39
  SPEAKER_00: I think it's a good verification process.
• 0:40
  SPEAKER_00: Just make sure that you're not in turn being BSed by the system itself.
• 0:44
  SPEAKER_00: These large large language models, they're next token predictors or next word predictors.
• 0:49
  SPEAKER_00: And a lot of them are really fantastic with all the data and all the information they contain.
• 0:54
  SPEAKER_00: But with all that information, sometimes there's stumbling that occurs in the system itself.
• 1:00
  SPEAKER_00: So the information that it might be giving you might not be actually accurate.
• 1:04
  SPEAKER_00: It could be just a complete hallucination or lie.
• 1:07
  SPEAKER_00: So I'd push back a couple times before you start taking the word of your latest AI inquiry as gospel, like the word of God.
• 1:15
  SPEAKER_00: I would make sure that you push back a couple times and maybe also call in, especially if this is an important decision, you're hinging some kind of a future movement on what the model is telling you, or maybe you're going to fire your agent or your lender at the result of the because of what the model told you, whether the agent was being honest and if they weren't, or if they're misleading you're trying to play a game on you, same thing with a real estate lender.
• 1:39
  SPEAKER_00: Before you call in that, before you start to execute on what it's telling you, make sure you ask it again and say, hey, listen, you know, are you sure this is right?
• 1:51
  SPEAKER_00: This are you are you sure 100% that my agents, you know, line setting me up or my lenders doing this or not not helping me in the best way possible?
• 1:59
  SPEAKER_00: And then I would also venture out and maybe ask another model, maybe go to Deep Seek, or maybe go to Copilot if you're not using that, or Grok if you're not using that.
• 2:08
  SPEAKER_00: You don't have to pay, you'll just get enough to be able to make this inquiry and see if, you know, just kind of get some vetting, find out what's going on.
• 2:17
  SPEAKER_00: This this is like asking a friend.
• 2:18
  SPEAKER_00: I mean, and and not really a friend, it's probably worse than that.
• 2:21
  SPEAKER_00: You're asking something, somebody that you don't know anything about realistically.
• 2:26
  SPEAKER_00: These systems have been brought up on uh intelligence by other humans.
• 2:31
  SPEAKER_00: Now, it has all the data, but it has to be aligned and programmed using reinforcement learning.
• 2:38
  SPEAKER_00: So the people that are providing the reinforcement learning, that's where the differences and the biases get baked in.
• 2:44
  SPEAKER_00: Plus, of course, the people building the technology themselves, they have particular biases also.
• 2:49
  SPEAKER_00: So just make sure you push back a couple times and go ask a couple different models about what they think.
• 2:55
  SPEAKER_00: Now, pulling into the real estate realm, we have 834 active this morning in Santa Clarita, 186 properties in escrow currently, 50 days, 50 properties have sold over the last seven days.
• 3:06
  SPEAKER_00: Right now, median sales price of 771,500.
• 3:10
  SPEAKER_00: That's all across the Santa Cruita Valley.
• 3:12
  SPEAKER_00: These are going to be uh Valencia is gonna be broken down into uh 14 properties have sold in the last seven days in Valencia, six have sold in the last seven days in Saugas, Canyon Country, 14 have sold in the last seven days in Canyon Country.
• 3:25
  SPEAKER_00: New Hall, we have nine, Castayac two, Stevenson Ranch, two, act and two, Aqua Dulce one.
• 3:30
  SPEAKER_00: So that's the number.
• 3:31
  SPEAKER_00: Uh, people are talking about what type of market it's being.
• 3:34
  SPEAKER_00: Well, actually, Santa Clarita, uh, to the misnomer, low-hanging fruit is it's a buyer's market.
• 3:41
  SPEAKER_00: But we have to break that down.
• 3:43
  SPEAKER_00: There's a different market out here, and maybe the novice is going to say it's uh buyer's market for sure.
• 3:50
  SPEAKER_00: We can all bake, you know, bake place all our bets on that being a fact.
• 3:55
  SPEAKER_00: Well, there's three different markets out here.
• 3:57
  SPEAKER_00: We have single-family residence real estate market, we have a condominium real estate market, we have a townhome real estate market.
• 4:04
  SPEAKER_00: So to break it down, and and in some markets, yes, absolutely.
• 4:08
  SPEAKER_00: It could be a buyer's market in all three.
• 4:12
  SPEAKER_00: We're not there yet.
• 4:13
  SPEAKER_00: We're watching as it is a complete buyer's market in the condo world.
• 4:18
  SPEAKER_00: And when it comes to the single family residence world, that's not true.
• 4:22
  SPEAKER_00: It is not a buyer's market.
• 4:24
  SPEAKER_00: It is still a seller's market moving into a buyer's market, but we're not there yet.
• 4:29
  SPEAKER_00: And then if you look at town homes, that is also in the transitioning to a buyer's market as well.
• 4:36
  SPEAKER_00: And that equates to numbers of listings on market, how fast they're moving, and then of course how long it's taking to uh to move those properties, and then by property type.
• 4:46
  SPEAKER_00: One of the big uh hiccups out here in Santa Clarita currently happens to be insurance.
• 4:51
  SPEAKER_00: So when you go in, you definitely want to find out where that home insurance is best found.
• 4:58
  SPEAKER_00: And if the house itself is insurable with a traditional insurance policy, or if you're going to need to get uh one of those uh the the extra coverage that they have with the fair plan and these other things.
• 5:10
  SPEAKER_00: When you're looking at this, you definitely want to talk to your uh mortgage, excuse me, your insurance person.
• 5:18
  SPEAKER_00: And Scott Wilk is a good resource for that locally.
• 5:21
  SPEAKER_00: There's also Roman Rakita with AR ARES insurance.
• 5:25
  SPEAKER_00: They're just they're just good people.
• 5:26
  SPEAKER_00: I mean, I like these people and they don't they don't oversell.
• 5:30
  SPEAKER_00: Uh right now, just breaking this down, actin nine days to sell, that's 8.7 months of supply, six closings, and each individual city is going to carry with it a different dynamic, whether it's a seller's market, a balanced market, or a buyer's market.
• 5:44
  SPEAKER_00: Right now, actin, nine days to sell, eight point seven months of supply, six closings.
• 5:48
  SPEAKER_00: That's uh 19 days faster than the valley overall.
• 5:52
  SPEAKER_00: Stevenson Ranch, 17 days to sell, 5.5 months of supply, six closings, that's 11 days faster than the valley overall.
• 5:59
  SPEAKER_00: Casting, a little bit longer, 22 days to sell, 4.3 months of supply, 12 closings, 6 days faster than the valley overall.
• 6:07
  SPEAKER_00: Saugus, 24 days to sell, 2.6 months of supply, 42 closings, that's 4 days faster.
• 6:13
  SPEAKER_00: Valencia, 26 days to sell, 4.2 months of supply, 60 closings, 2 days faster, and New Hall, 38 days to sell, 5.7 months of supply, 18 closings, 8 days slower, and Canyon Country, 40 days to sell, 4.6 months of supply out of 39 closings, 12 days slower than the overall valley.
• 6:37
  SPEAKER_00: All cities combined, 28 days to sell, about 4.4 months of supply, but that's putting everything in together, condos, single-family residences and townhomes, and that's that's not the way you should be looking at the market.
• 6:49
  SPEAKER_00: If you're thinking about selling something, you're not gonna be comparing.
• 6:52
  SPEAKER_00: If you have a single family house to sell, I'm not gonna be comparing your workup with a condominium or a townhome.
• 6:59
  SPEAKER_00: I'm gonna be comparing your house with a single family house, right?
• 7:03
  SPEAKER_00: Something very in close proximity, hopefully same tract, hopefully same builder, hopefully built approximately the same time and hopefully within the same condition parameters as other properties.
• 7:15
  SPEAKER_00: If somebody has a property that they've done renovation to and they've really upscaled it and put a lot of work and money into it over the years, there might not be a good comparative property to compare it to.
• 7:28
  SPEAKER_00: So then you need to look at what those differences have equated to in past sales prices.
• 7:35
  SPEAKER_00: And then that's where the expert comes in.
• 7:37
  SPEAKER_00: Anybody can look at a residence and say, Well, this house in this neighborhood, this square footage, this bedroom, bathroom couch, this builder, the last three sold for this price or around this price, looking at yours, and they can do the comparisons.
• 7:50
  SPEAKER_00: But if a seller comes into the world that happens to have a lot of upgrades, a lot in the ways of renovations and fixing, and the property is you know perfect, and also the positioning of the property maybe being on a cul-de-sac, maybe having a view, maybe having space for RV, all of these different things are also going to add to that property's value, even in a buyer's market, if we actually end up transitioning there.
• 8:14
  SPEAKER_00: And we're definitely on our way, but it's not all the way yet.
• 8:17
  SPEAKER_00: I'm not going to say uncle until it is there.
• 8:20
  SPEAKER_00: 12 months of seller outcomes.
• 8:21
  SPEAKER_00: I have that tile up as well.
• 8:23
  SPEAKER_00: Uh we did, we looked at uh October, um, we had a 30.9% sold over asking.
• 8:29
  SPEAKER_00: September of this year, 28.4% sold over asking.
• 8:33
  SPEAKER_00: So 12 straight months.
• 8:34
  SPEAKER_00: The typical seller got their asking price for every single one.
• 8:38
  SPEAKER_00: Our market here in Santa Clarita is not indicative of the rest of California.
• 8:42
  SPEAKER_00: We have a very solid and strong market here.
• 8:45
  SPEAKER_00: And there are pockets in LA that have the same, they exhibit the same signals.
• 8:49
  SPEAKER_00: Now, here's what most nobody points out.
• 8:51
  SPEAKER_00: Sales to asking ratio barely moves.
• 8:54
  SPEAKER_00: It sits right around 100% every single month.
• 8:56
  SPEAKER_00: And we've been watching this whole trend.
• 8:58
  SPEAKER_00: The stability is exactly why pricing uh pricing your property correctly matters so much.
• 9:04
  SPEAKER_00: Market's not going to come to rescue a wrong number, it's just going to sit there and wait while your listing gets stale.
• 9:11
  SPEAKER_00: So make sure you get those numbers out there.
• 9:13
  SPEAKER_00: Right now in Castac, 92.6% or 4.7%.
• 9:19
  SPEAKER_00: This is going to be asking price outcome by city, last 90 days.
• 9:23
  SPEAKER_00: And the asking prices of these areas, it looks like Stevenson Ranch, they're getting very, very close to almost 100% of the asking price as well.
• 9:32
  SPEAKER_00: So please, when you want to see more of this information, all you have to do is go to Santa Clarita Openhouses.com.
• 9:39
  SPEAKER_00: I have them all posted here.
• 9:40
  SPEAKER_00: You'll be able to see everything happening here in the current market.
• 9:45
  SPEAKER_00: And you'll also be able to see all the open houses that are going to be coming up this next weekend.
• 9:50
  SPEAKER_00: When you're looking and you start to say, you know what, I'm going to go look at properties at open houses, just understand that you know, in some cases, the agents are going to ask you on the behalf of their sellers to give up who you are before they're going to allow you access.
• 10:04
  SPEAKER_00: As far as I understand, being playing this game for almost 28 years now, or 28 years plus now, I think I just breached August was the 28-year mark.
• 10:13
  SPEAKER_00: The sellers have a right to know who's coming into their house.
• 10:16
  SPEAKER_00: That's it.
• 10:17
  SPEAKER_00: So, you know, it and then you can establish with the agent, listen, I don't want you to contact me, I don't want you to call me, don't want you to send me a text message, I want you to leave me alone.
• 10:26
  SPEAKER_00: You do not have my permission.
• 10:28
  SPEAKER_00: I'm doing this because you're saying the seller wants this information.
• 10:31
  SPEAKER_00: And then you put it down.
• 10:33
  SPEAKER_00: And then you even put on the do not call or, you know, do not contact DNC or whatever it may be.
• 10:38
  SPEAKER_00: And if they do and they breach that, then there's a violation that's present.
• 10:43
  SPEAKER_00: And uh, you know, you follow up with your your favorite legal professional.
• 10:47
  SPEAKER_00: But that should be established up front.
• 10:49
  SPEAKER_00: But sellers have a right to know who's coming into their houses.
• 10:52
  SPEAKER_00: Open houses own or bring in a certain a certain item that it doesn't happen during a typical showing, and that's anonymity.
• 11:02
  SPEAKER_00: They don't know who you are.
• 11:04
  SPEAKER_00: You you're completely unknown.
• 11:06
  SPEAKER_00: And uh lately I had an open house where there was a very peculiar individual that came in, um, not dangerous for the most part, I don't think, but just odd and almost seemed set up and definitely wasn't in the market to buy anything or sell anything.
• 11:21
  SPEAKER_00: Apparently, he just likes going into open houses and trying to elicit a uh a reaction of sorts, and you know, people are funny that way.
• 11:31
  SPEAKER_00: And he sure did try, but I wasn't baited.
• 11:34
  SPEAKER_00: He didn't get me.
• 11:36
  SPEAKER_00: All right.
• 11:36
  SPEAKER_00: Please check out Santa CruzOpenhouses.com when you're ready to reach out.
• 11:39
  SPEAKER_00: I'm Connor with Honor.
• 11:40
  SPEAKER_00: Thanks for watching today's update.
• 11:41
  SPEAKER_00: We'll see you tomorrow, of course.
• 11:43
  SPEAKER_00: And all the data is there, you'll see everything for sale as well.
• 11:46
  SPEAKER_00: I don't put any password protection on that system.
• 11:49
  SPEAKER_00: I I think people should have a good local resource that has all of the data without being manipulated.
• 11:56
  SPEAKER_00: And uh that's that's the philosophy.
• 11:58
  SPEAKER_00: If you need me, you can reach out.
• 11:59
  SPEAKER_00: Be well.
• 12:00
  SPEAKER_00: See you next time.