Latest / Connor with Honor: AI, Real Estate and Real Life / Strong agent equals success - a weak Santa Clarita agent will have you giving up your lunch money

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Strong agent equals success - a weak Santa Clarita agent will have you giving up your lunch money · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Day of 2024.
• 0:02
  SPEAKER_00: We are at October 30th, and I'm Connor with Honor.
• 0:06
  SPEAKER_00: This real estate update is going to include some information regarding the local inventory and what changes we're seeing in the market.
• 0:12
  SPEAKER_00: We are seeing a large amount of price reductions in the Santa Clita market.
• 0:17
  SPEAKER_00: Of the 92 listings that have had prices changed, over 83 are actually reductions in listing price, and these are properties that are still active.
• 0:26
  SPEAKER_00: So it's not an adjustment that might have happened later.
• 0:29
  SPEAKER_00: These are actually occurring when listings are currently active.
• 0:33
  SPEAKER_00: One of the things that I'm explaining to my sellers and also the buyers out there is it's really time to start adjusting to the new market parameters just because we're getting into the election season, which is slowing a lot down.
• 0:47
  SPEAKER_00: In fact, most of the people that came into my open house this last weekend were very conscious of the election, and that seemed to be 80 almost all holders preventing them from moving forward in real estate and writing an offer.
• 1:02
  SPEAKER_00: At least at this time, they wanted to see who actually got into the White House, if it was a continuation of what we had before, or if it was Trump.
• 1:10
  SPEAKER_00: Either way, that is what they're deciding to wait for.
• 1:13
  SPEAKER_00: And then in addition to that, the interest rates, they're hoping that if somebody new comes into the White House, those interest rates are going to come down.
• 1:20
  SPEAKER_00: That's not going to be an instantaneous thing.
• 1:22
  SPEAKER_00: That's going to push us into next year.
• 1:24
  SPEAKER_00: And don't forget, at the beginning of each year, we see market inventory start to actually decrease in most cases because the buyer activity increases, people looking to the summertime and getting prepared to potentially jockey for school position if they have kids in schools.
• 1:43
  SPEAKER_00: But usually the markets are much hotter the first quarter, second quarter, into almost the third of every single year.
• 1:51
  SPEAKER_00: As we get into the third and fourth quarter of most years, real estate seems to slow down a little bit, and 2024 is no exception.
• 1:59
  SPEAKER_00: Did a show yesterday with Tim Slaminsky, local lender, talking about in the actual states themselves, talking about the proper vetting of a lender and those questions that you're going to want to ask to find out what kind of charges you're going to incur using them to get a loan.
• 2:18
  SPEAKER_00: We also talked a little bit about credit unions, how most of them are not adept or not allowed to do FHA and VA.
• 2:25
  SPEAKER_00: So they typically farm those out to a when you're hiring somebody in the business.
• 2:38
  SPEAKER_00: And I know I don't.
• 2:40
  SPEAKER_00: And finally, when we got into what's happening in the real estate market, we started to talk about some of that value, exactly what an agent offers their clients.
• 2:51
  SPEAKER_00: And you look at somebody's background, maybe prior to real estate, I believe that background speaks volumes as to how they're going to conduct themselves through the transaction, either be protective or scared, either be aggressive or timid.
• 3:05
  SPEAKER_00: And I'm not talking about with the buyer or the seller, I'm talking about with the other agent on the other side of the transaction.
• 3:11
  SPEAKER_00: Or if they're doing something known as dual agency where they're representing the seller and the buyer, they're able to stand up to both sides, if in fact that's what's necessary to try to get the point of cross from whichever party is making a request.
• 3:30
  SPEAKER_00: You want an agent that's going to call before those people and give them what you're looking to do.
• 3:36
  SPEAKER_00: If you need something repaired, if you need a credit, if these are valid requests, being able to enforce that, get it negotiated, and then come back to the closing table and make everything work out with all parties.
• 3:49
  SPEAKER_00: But if your agent doesn't have the gear to be able to work in that kind of business, maybe this is maybe this is some kind of a fun endeavor for them, maybe a time spouse, and they're just doing this on the side and not taking real estate.
• 4:02
  SPEAKER_00: It would be a mistake to hire that type of person.
• 4:04
  SPEAKER_00: I'm Connor with Honor.
• 4:05
  SPEAKER_00: Thank you for watching this update.
• 4:06
  SPEAKER_00: We will be back tomorrow.
• 4:08
  SPEAKER_00: It is Halloween.
• 4:09
  SPEAKER_00: Be careful.
• 4:10
  SPEAKER_00: Let's X ray that candy.
• 4:12
  SPEAKER_00: We'll talk to you soon.
• 4:13
  SPEAKER_00: Connor with Honor, over and out.