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Santa Clarita Real Estate Deep Dive: Exclusive Market Insights and Predictions for 2024 · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Hey everybody, I'm Connor with Honor.
• 0:02
  SPEAKER_00: Connor McIver.
• 0:03
  SPEAKER_00: I'm here to do your give you the real estate update, April 15th, 2024.
• 0:08
  SPEAKER_00: I've been stumbling over this all morning.
• 0:10
  SPEAKER_00: So thank you for your patience.
• 0:12
  SPEAKER_00: All right, we're going to talk about local inventory and what's happening.
• 0:15
  SPEAKER_00: I did do a big statistical analysis of all the single-family residence homes in the Santa Clarita Valley City.
• 0:23
  SPEAKER_00: So this is going to be Canyon Country, Castac, New Hall Saugas, Stevenson Ranch, and Valencia.
• 0:29
  SPEAKER_00: And I calculated the data set involving 24,897 listings.
• 0:35
  SPEAKER_00: This is from January 2015 to March of 2024.
• 0:39
  SPEAKER_00: So this last month, I don't have April's numbers yet.
• 0:42
  SPEAKER_00: They have to close out the month before I can see all the data.
• 0:44
  SPEAKER_00: But for all of these cities, I did want to talk about a couple of things, then I'll get into the local daily inventory.
• 0:51
  SPEAKER_00: So with regard to these different areas, there's a few different trends.
• 0:55
  SPEAKER_00: It depends on where you want to purchase, how far your money is going to go.
• 0:59
  SPEAKER_00: The cities in Santa Clarita Valley are priced differently, albeit pretty similar in nature.
• 1:06
  SPEAKER_00: But again, it's going to depend on where you want to live and what kind of comforts you want to have and the style of housing.
• 1:13
  SPEAKER_00: So if you move through Santa Clarita Valley, if we're talking about commute distances to Greater Los Angeles, typically the further south in the Santa Crita Valley, the less traffic you're going to have to contend with over time.
• 1:26
  SPEAKER_00: So if you are one of those commuting people, I did it on a police motorcycle, so I know that's unfair, but as far as vehicle goes, yeah, tough.
• 1:34
  SPEAKER_00: So the closer you get to the southern part of Santa Crita Valley, it's going to be better for you regarding commute.
• 1:40
  SPEAKER_00: So that happens to be New Hall and Stevenson Ranch, Valencia, and on the 14th side, we have Newhall and Canyon Country, kind of further south.
• 1:51
  SPEAKER_00: Now, Saugus and Castac, a little bit further north.
• 1:54
  SPEAKER_00: You'll notice Saugus is kind of in between of the Y and Santa Clarita, one side being the 14 freeway and the other side being the 5 freeway.
• 2:04
  SPEAKER_00: Saugus kind of being about here in my forehead.
• 2:07
  SPEAKER_00: Saugus is a little further from the freeways, depending on where in Saugus, but you also need to balance that out with the type of schools and the blue ribbon reward system, and the blue ribbon schools that basically populate most of Saugus from elementary all the way to high.
• 2:22
  SPEAKER_00: Something to check into.
• 2:23
  SPEAKER_00: So you being close to the freeway might be great for commute purposes.
• 2:28
  SPEAKER_00: But now you're thinking about education for the kids, there's a trade-off.
• 2:33
  SPEAKER_00: So that's something to consider.
• 2:34
  SPEAKER_00: Are there great schools in the southern cities in Santa Crita?
• 2:37
  SPEAKER_00: Absolutely.
• 2:38
  SPEAKER_00: Blue ribbon as well.
• 2:39
  SPEAKER_00: It's just going to depend on your own research where you decide to live.
• 2:44
  SPEAKER_00: Last seven days in Santa Crita Valley, I did pull up that data this morning, and you can see different data sets here.
• 2:51
  SPEAKER_00: But when I did pull it up, we have currently 10 coming soon listings in Santa Crita Valley.
• 2:56
  SPEAKER_00: 83 new listings have been added to the for sale market in the past seven days.
• 3:01
  SPEAKER_00: Price changes 45.
• 3:03
  SPEAKER_00: These are actually reductions in prices, and that has some people a little concerned.
• 3:09
  SPEAKER_00: This isn't anything to panic about, and this is very typical as far as market data goes.
• 3:15
  SPEAKER_00: We do see that we have 17 properties have canceled their escrow's and gotten back onto the market for sale.
• 3:22
  SPEAKER_00: Again, not uncommon in this particular time or really any market where you can see an average of 20 to 30% of the real estate listings actually fall out of escrow and get remarketed and put back onto the market as for sale.
• 3:36
  SPEAKER_00: We do have active under contract properties 34.
• 3:39
  SPEAKER_00: These are properties gone into escrow.
• 3:41
  SPEAKER_00: 50 properties pending.
• 3:42
  SPEAKER_00: So all total properties in escrow 84, 55 properties closed in the last seven days.
• 3:48
  SPEAKER_00: New homeowners, congratulations to everybody.
• 3:50
  SPEAKER_00: And of course, we have three properties that did not sell within the entire contractual length of the contract.
• 3:59
  SPEAKER_00: What does that length look like?
• 4:01
  SPEAKER_00: It depends on the agent.
• 4:02
  SPEAKER_00: I take six month real estate listings.
• 4:05
  SPEAKER_00: I'm able to prove to a seller how that's valuable within the online marketing and advertising world.
• 4:11
  SPEAKER_00: Six months is pretty much after that, really, the return is nothing more.
• 4:16
  SPEAKER_00: Six months is pretty much that sweet spot for a listing.
• 4:20
  SPEAKER_00: I explain that to my sellers, but some agents do it less.
• 4:23
  SPEAKER_00: They'll do three, four months or a month or even less if they're really trying to schmooze the seller.
• 4:29
  SPEAKER_00: Just watch out for that because there's a reset point after a property finishes on the market.
• 4:34
  SPEAKER_00: Let's say it didn't sell, depending on the status it was, and depending on how that contract is written, could depend on whether or not you got to have let a cooling off period occur before you come on back onto the market and actually are new in status.
• 4:50
  SPEAKER_00: It's going to show that it carried a historical listing that never sold, and that may be detrimental to a seller, just depending on what type of market it is.
• 4:59
  SPEAKER_00: Currently, it's really hard to mess it up now because of the high buyer drive and it being a seller's market here in Santa Clita Valley.
• 5:07
  SPEAKER_00: And by mess it up, it's not too difficult if you do have your listing price correct, you have your property prepared, you have everything put together that has as it should be.
• 5:19
  SPEAKER_00: So all of the rooms in your residence have been put back to their originally intended purpose.
• 5:25
  SPEAKER_00: If you have an office, for example, that used to be a bedroom, but you convert it to an office to get stuff done.
• 5:31
  SPEAKER_00: I get that.
• 5:32
  SPEAKER_00: Whenever it comes time to sell, you're going to want to return that back to a bedroom.
• 5:36
  SPEAKER_00: At least have a bed in it with a desk so people, when they come in, they realize what it actually function was.
• 5:43
  SPEAKER_00: That's important than depersonalization of property.
• 5:46
  SPEAKER_00: That's huge as well because most people, as they're coming into real estate, they want to have the as blank of a canvas as they possibly can, as they're imagining themselves and their family, if they take it that far emotionally, attaching, hanging those mental curtains, now of a sudden they're into your house and they love it.
• 6:04
  SPEAKER_00: We just don't want to put any obstacles in between those buyers looking at your residence and then potentially wanting to buy it.
• 6:11
  SPEAKER_00: That's something that really needs to be considered and worked out.
• 6:14
  SPEAKER_00: You should have that agent walking through your residence giving you those tips, what information, what things to look at, what things you need to change.
• 6:23
  SPEAKER_00: Also, the other question comes in this how much money am I going to have to spend to put upgrades and updates into my residence?
• 6:29
  SPEAKER_00: Right now, probably little to none, just because there's very low competition numbers.
• 6:35
  SPEAKER_00: If that changes, when the market does change from being a seller's market to a buyer's market, then we're going to see a different dynamic.
• 6:41
  SPEAKER_00: And then here's something else as well.
• 6:43
  SPEAKER_00: Right now, selling real estate in the current commission cycle, that really hasn't changed even with the lawsuits.
• 6:49
  SPEAKER_00: But in the future, let's just say that sellers say, yes, I'm not going to pay a buyer's agent.
• 6:55
  SPEAKER_00: I'm only going to pay the agent I hired to sell my house.
• 6:58
  SPEAKER_00: So my agent's going to be responsible to trying to get every buyer they can for it, versus me going out to other agents that have many buyers each.
• 7:08
  SPEAKER_00: You kind of see how that multiplies, but let's just say that's where it is.
• 7:12
  SPEAKER_00: When the market starts to shift, which won't take too long at that point, because it's going to cut a lot of buyers out of the market that want to have their own agent, because now they're going to be stuck with going with the seller's agent, which in some worlds are fine.
• 7:29
  SPEAKER_00: Something to think about, though, has to do with do you not want to have your own agent on your side 100%, or do you want to share an agent with the seller?
• 7:40
  SPEAKER_00: The seller's agent knows what's going on and all that information.
• 7:44
  SPEAKER_00: If they become your agent now, they know all of what's going on with you and your information.
• 7:49
  SPEAKER_00: Once the market shifts from being a seller's market to a buyer's market, the people that have the buyers that want to buy real estate are going to be having a lot of power.
• 8:01
  SPEAKER_00: The sellers at that particular time that hire their agent to sell the residence are going to be tasked with if that did change everything because of the lawsuits and commissions no longer offered, that will be the time that the commission will potentially come back.
• 8:16
  SPEAKER_00: I'm not very concerned with this.
• 8:18
  SPEAKER_00: Everybody says lots of agents are going to be looking for new jobs.
• 8:21
  SPEAKER_00: Well, if they're going to be looking for new jobs, maybe this wasn't the industry for them.
• 8:26
  SPEAKER_00: This market fluctuates.
• 8:27
  SPEAKER_00: I've been doing this since 1998.
• 8:29
  SPEAKER_00: This is not the first change in the world.
• 8:31
  SPEAKER_00: What's important for you watching, if you're an agent and you're struggling, you need to show people your value.
• 8:38
  SPEAKER_00: Don't just talk it, show it so you can say, listen, this is what I do every day.
• 8:43
  SPEAKER_00: This is how I basically load myself into the real estate data every single day.
• 8:51
  SPEAKER_00: And then I digest it and I pull it and then I produce videos such as these.
• 8:55
  SPEAKER_00: And I try to tell people what's happening with the market and then also answer a lot of questions.
• 9:00
  SPEAKER_00: I'm writing a book.
• 9:01
  SPEAKER_00: I have that in line as far as real estate goes.
• 9:04
  SPEAKER_00: There's so much that needs to happen, and so much somebody needs to do to be able to market themselves more effectively.
• 9:11
  SPEAKER_00: Because if I can't market me, how am I going to market your house?
• 9:16
  SPEAKER_00: Something to consider.
• 9:17
  SPEAKER_00: So many things.
• 9:18
  SPEAKER_00: If you happen to be interested in more information, go to Connorwithhonor.com.
• 9:23
  SPEAKER_00: That's my website.
• 9:24
  SPEAKER_00: I do try to post up all my blog articles every single day of the content, and you can check that out.
• 9:30
  SPEAKER_00: We're going to be talking tomorrow about Tuesdays, the travel Tuesdays.
• 9:35
  SPEAKER_00: We're going to look into different areas in Santa Carita Valley.
• 9:38
  SPEAKER_00: Probably do more on the commute thing and also maybe some public transportation because there are people that are now vehicleess and they're using Uber and other things instead of paying that whatever that fee is a month to have a car.
• 9:54
  SPEAKER_00: I have a KLR 650, so I'm not sure about the other part.
• 9:56
  SPEAKER_00: I hope everybody's well.
• 9:58
  SPEAKER_00: Please let me know af you if you like the show.
• 10:01
  SPEAKER_00: Share me with your friends.
• 10:02
  SPEAKER_00: We will talk to you soon.
• 10:03
  SPEAKER_00: I'm Connor with Honor.
• 10:04
  SPEAKER_00: Over and out.