Latest / Connor with Honor: AI, Real Estate and Real Life / Why Santa Clarita For Sale Signs Don't Tell You If a Home Is Sold or Pending

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Why Santa Clarita For Sale Signs Don't Tell You If a Home Is Sold or Pending · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Good day, everybody.
• 0:00
  SPEAKER_00: It's Connor.
• 0:01
  SPEAKER_00: Welcome to the 3rd of August, 2025.
• 0:05
  SPEAKER_00: This is going to be a real estate update.
• 0:06
  SPEAKER_00: I want to talk about for sale signs and what you see out there in the world and why they're not a great gauge anymore as to the status of any property.
• 0:14
  SPEAKER_00: But first, let's get into the last seven days of market activity here.
• 0:18
  SPEAKER_00: This is going to span back into July.
• 0:21
  SPEAKER_00: So we have seven coming soon listings that have been placed on the market in the past seven days.
• 0:25
  SPEAKER_00: 88 new listings have hit this market.
• 0:27
  SPEAKER_00: 117 properties have had their prices changed.
• 0:30
  SPEAKER_00: That's not that's not unusual.
• 0:33
  SPEAKER_00: That's very typical.
• 0:34
  SPEAKER_00: We've seen that week in and week out since just about February.
• 0:38
  SPEAKER_00: We've seen high numbers of price changes and triple digits.
• 0:42
  SPEAKER_00: And most of these are reductions.
• 0:43
  SPEAKER_00: There are a few cases that they are increases in price.
• 0:46
  SPEAKER_00: Usually that seems to be when an actual listing agent makes a mistake.
• 0:51
  SPEAKER_00: So they're inputting the listing into the multiple listing service.
• 0:54
  SPEAKER_00: And the multiple listing service is very unforgiving.
• 0:57
  SPEAKER_00: It's not going to allow you to do a price modification or go back and say you made a mistake after the property's published.
• 1:05
  SPEAKER_00: That's why Agent 101 rules whenever you're putting in a listing, you have to be incredibly careful when it comes to pricing that particular property.
• 1:15
  SPEAKER_00: If you put it into the multiple listing service and you transpose a couple numbers and you hit publish, it's too late.
• 1:22
  SPEAKER_00: It's out there, it's done.
• 1:23
  SPEAKER_00: The syndication sites are going to suck it up.
• 1:25
  SPEAKER_00: It's going to be placed online where everybody can see, and that's an issue.
• 1:30
  SPEAKER_00: So then what you have to do as a real estate agent, of course, if your seller calls you, you're embarrassed, and that's that's a horrible place to be.
• 1:37
  SPEAKER_00: But let's say you catch it, you're like, oh my God, I just transposed those two numbers.
• 1:41
  SPEAKER_00: You can call the board and complain.
• 1:43
  SPEAKER_00: You can do whatever you want, but they're not going to care.
• 1:45
  SPEAKER_00: They're going to say, sorry, the rules are in place.
• 1:48
  SPEAKER_00: And this prohibits people from going in there and monkeying with the price, trying to make a property look like it's a better deal.
• 1:54
  SPEAKER_00: It's been published.
• 1:55
  SPEAKER_00: So what then has to happen is the agent goes back in and they can, of course, modify the price.
• 2:00
  SPEAKER_00: That's easy.
• 2:01
  SPEAKER_00: But then if it's a transposition where it's a price increase, a lot of people will look at that and say, oh my God, the price went up.
• 2:08
  SPEAKER_00: I wonder why the price went up.
• 2:09
  SPEAKER_00: And it could have a good effect.
• 2:11
  SPEAKER_00: It could have people wanting to know more about the property.
• 2:13
  SPEAKER_00: But again, it's an issue that you don't want to have to deal with if you don't have to.
• 2:17
  SPEAKER_00: So you want to make sure before you hit publish that that price is actually as is on contract, the contract which was signed by the seller.
• 2:26
  SPEAKER_00: So as agents out there, please watch out for that.
• 2:29
  SPEAKER_00: But these are actual, these price changes, a majority of price reductions, and I mean a majority over 110 of those are reductions in listing price.
• 2:38
  SPEAKER_00: That typically happens about a 30-day period if a property doesn't have a lot of activity or any offers.
• 2:44
  SPEAKER_00: Usually the strategy now is to have that property price reduced again, it'll kick off the internet advertising so people will start to see it again.
• 2:53
  SPEAKER_00: And if they come down past a$10,000 mark or even better under the next$100,000 mark, so$900,000,$800,000,$700, if they go to$799,$899,$999, that's really going to kick off.
• 3:07
  SPEAKER_00: You're going to get a larger influx of people that are qualified in those amounts.
• 3:11
  SPEAKER_00: And usually they're searching in$10,000 increments.
• 3:14
  SPEAKER_00: So they will start to see this property where they hadn't before.
• 3:17
  SPEAKER_00: All right, so back on market properties 23, 23 properties have fallen out of escrow.
• 3:21
  SPEAKER_00: That's that's a little lower than usual.
• 3:23
  SPEAKER_00: Their buyers are being more committed to properties that they're writing offers on just due to the lack of inventory.
• 3:29
  SPEAKER_00: There's not a lot of other selection out there.
• 3:31
  SPEAKER_00: So when they hang those mental curtains at the beginning, usually they stay faithful all the way through the process.
• 3:36
  SPEAKER_00: But in this case of the properties that have gone under escrow, which is about a total of 70, 23 of those properties are fallen out of escrow in the past week.
• 3:44
  SPEAKER_00: So they've come on the back on the market for sale.
• 3:47
  SPEAKER_00: Is that a good deal for a buyer?
• 3:48
  SPEAKER_00: Maybe.
• 3:48
  SPEAKER_00: It just depends on how the seller has that property strategized, where they're advertising it, what it looks like.
• 3:54
  SPEAKER_00: And maybe if it is good for you, you might be able to go in and offer them something different.
• 3:58
  SPEAKER_00: But again, whenever you're offering anything less than what the listing price is, you want to give them information.
• 4:05
  SPEAKER_00: You just don't want to tell them, hey, I'm an investor, I'm trying to invest in this.
• 4:08
  SPEAKER_00: You're not going to sell your house, blah, blah, blah.
• 4:10
  SPEAKER_00: You want to give them information.
• 4:11
  SPEAKER_00: You want to show them where the comparables are and that you're making a good solid offer on a piece of real estate.
• 4:17
  SPEAKER_00: I think that's fair.
• 4:18
  SPEAKER_00: This is a seller's market.
• 4:19
  SPEAKER_00: There's lacking inventory.
• 4:21
  SPEAKER_00: So we have that supply and demand thing.
• 4:23
  SPEAKER_00: And I think it would be best for people to go in and if you're going to have an offering strategy on a particular piece of property, maybe it's been sitting a long time, you should be able to back that up with comparable values and show the seller, hey, your property's only worth this month, this much, and says why.
• 4:39
  SPEAKER_00: And it would be up to that particular seller's agent to convey that information to them and share with them that information.
• 4:45
  SPEAKER_00: But I think that's very helpful in the process.
• 4:47
  SPEAKER_00: That way, people don't assume that you're just trying to take advantage of them for whatever reason.
• 4:53
  SPEAKER_00: I think that helps on the human level.
• 4:55
  SPEAKER_00: All right, so let's talk about for sales signs.
• 4:57
  SPEAKER_00: Oh, total, 807 total active listings on the market.
• 5:00
  SPEAKER_00: For sales signs, a lot of people say, well, the house hasn't sold because there's no pending sign or there's no sign that says sold or in escrow.
• 5:07
  SPEAKER_00: That's probably not the case.
• 5:09
  SPEAKER_00: A lot of agents, when they have their signs placed, they have it put out there by a sign company.
• 5:15
  SPEAKER_00: D signs is one of the largest here in Los Angeles.
• 5:18
  SPEAKER_00: And usually, like me, my real estate signage inventory is down there at their warehouse.
• 5:23
  SPEAKER_00: So they have all my for sale signs.
• 5:25
  SPEAKER_00: So what happens when I get a listing?
• 5:27
  SPEAKER_00: I make a phone call.
• 5:28
  SPEAKER_00: Well, we sorry, old school, apologize for that.
• 5:31
  SPEAKER_00: I go online and I tell them that I want a sign installed, I give them the address, I tell them what kind of post, the height of the post I want, where pretty much where I want it put on the property, and then they'll go out and they'll place this post with my real estate sign hanging on it.
• 5:45
  SPEAKER_00: Usually it just comes with a sign.
• 5:47
  SPEAKER_00: There's no riders, there's no other information, pool or I'm gorgeous inside, or call for an appointment, or don't disturb the occupants.
• 5:54
  SPEAKER_00: All of these you see, those are typically placed by the agent after the fact.
• 5:58
  SPEAKER_00: In fact, when you're driving around, you might see a post without a sign.
• 6:01
  SPEAKER_00: That's because the agent has their signs at their house.
• 6:04
  SPEAKER_00: So then they take it out and they're able to put it on that post and they're able to add the different writers on there.
• 6:09
  SPEAKER_00: A lot of agents won't go out and change the sign at all when the property goes into escrow, goes pending, or becomes sold.
• 6:15
  SPEAKER_00: And usually those agents have about 24 to 48 hours, depending on which multiple listing service they're using, to update the status online.
• 6:25
  SPEAKER_00: So if you want to see what a property status actually is, the sign is a horrible resource.
• 6:31
  SPEAKER_00: A better resource would be one of the online systems out there.
• 6:34
  SPEAKER_00: SantaClaritaOpenhouses.com is mine.
• 6:37
  SPEAKER_00: It's unlocked.
• 6:38
  SPEAKER_00: You're not going to be added added.
• 6:41
  SPEAKER_00: You're not going to be sent ads.
• 6:42
  SPEAKER_00: There's no ads there.
• 6:43
  SPEAKER_00: It's just me, myself, and I.
• 6:44
  SPEAKER_00: You'll be able to go on there, and that system will then show you the current statuses of properties, and they are all in line with the Board of Realtors' rules because that's where the data comes from.
• 6:54
  SPEAKER_00: So if there is something that's amiss, it will be listed on there correctly because the agents are under penalty of fine or potentially losing their license by making mistakes or screwing things over if it's on an on-purpose basis.
• 7:08
  SPEAKER_00: So you'll see the exact statuses of these properties.
• 7:10
  SPEAKER_00: So looking at the sign isn't a great indicator of whether a property is in escrow or sold or anything like that.
• 7:16
  SPEAKER_00: Some agents will do that, but the better way is to look at it on a good syndication site or a good website, especially on a local level, that's not out there to game you, but it's going to show you that true status.
• 7:27
  SPEAKER_00: So right now, if we look at the properties that have closed in the past seven days, we have 62 of those that have actually gone in the pending status.
• 7:36
  SPEAKER_00: 41 have gone pending, 62 have closed, and then we have 17 canceled, 18 have been put on hold, and nine have withdrawn from the market.
• 7:43
  SPEAKER_00: We are Sunday, folks.
• 7:45
  SPEAKER_00: A great open house day.
• 7:46
  SPEAKER_00: If you want to see all the houses that are scheduled open for sale, just go to Santa Clarita Openhouses.com.
• 7:52
  SPEAKER_00: In addition, in my blog, I put some dangers to watch out for for you as real estate buyers and sellers.
• 7:58
  SPEAKER_00: Should you sign something?
• 7:59
  SPEAKER_00: Should you not?
• 7:59
  SPEAKER_00: Should you uh engage with the agent in the house?
• 8:02
  SPEAKER_00: Should you not?
• 8:03
  SPEAKER_00: And if you're a seller, what should you do to prepare your house for an open house so you don't get uh, well, anything stolen or liability or any of these things.
• 8:12
  SPEAKER_00: Be well, everybody.
• 8:13
  SPEAKER_00: Thank you for watching.
• 8:13
  SPEAKER_00: I'm Connor with honor.
• 8:14
  SPEAKER_00: We'll see you tomorrow.
• 8:15
  SPEAKER_00: You can go to Santa Clita Open Houses every day by about 10 o'clock.
• 8:19
  SPEAKER_00: I usually have a new video.
• 8:20
  SPEAKER_00: Post it, and there'll be a date there, so you'll know that it is timely.
• 8:24
  SPEAKER_00: Check it out.
• 8:24
  SPEAKER_00: And when you're ready, zoom me scv.com.
• 8:27
  SPEAKER_00: Zoommescv.com.
• 8:29
  SPEAKER_00: We'll jump on a call together, talk about real estate, talk about what's happening in the market, and talk about the best way you can have your real estate goals and needs met.
• 8:38
  SPEAKER_00: Be well, everybody.
• 8:38
  SPEAKER_00: We'll see you tomorrow.