Latest / Connor with Honor: AI, Real Estate and Real Life / 100 Price Reductions This Week: Santa Clarita Market Update and Buyer Tips

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100 Price Reductions This Week: Santa Clarita Market Update and Buyer Tips · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: This means something.
• 0:02
  SPEAKER_00: It does mean something because in the Santa Clarita real estate market today, on the 21st of March 2025, in the last seven days we have seen 100 price reductions.
• 0:12
  SPEAKER_00: I'll post those here so you can kind of see them.
• 0:15
  SPEAKER_00: But there have been 100 properties that had their prices changed.
• 0:18
  SPEAKER_00: I take that back.
• 0:20
  SPEAKER_00: There have been 100 properties that have had their prices changed, and almost all of them are price reductions.
• 0:26
  SPEAKER_00: You'll see that here on this list indicated by the down arrows.
• 0:30
  SPEAKER_00: And I didn't put all the specifics with regard to the properties, but this is from all across of Santa Clarita Valley.
• 0:36
  SPEAKER_00: You have all of the cities included here.
• 0:38
  SPEAKER_00: So that's what we've been watching.
• 0:40
  SPEAKER_00: 608 active units on the market for sale as of this morning, the 21st, as we close out this week in March.
• 0:48
  SPEAKER_00: What's going to be happening here is we're going to see more and more inventory entering the market as we now get into first day of spring.
• 0:55
  SPEAKER_00: That typically is a big kickoff point for real estate.
• 0:58
  SPEAKER_00: So you buyers out there, if you are considering purchasing real estate, that first best step is to talk to your real estate lender.
• 1:06
  SPEAKER_00: If you don't have one, I have some very good ones.
• 1:10
  SPEAKER_00: You can reach out to them and find out exactly where you fall within the approval category and what that number is going to look like.
• 1:17
  SPEAKER_00: A few things I would suggest when you do talk to a lender, be it somebody I refer you or your agent refer you, make sure that they explain to you how your extra stuff is going to work on top of your mortgage.
• 1:30
  SPEAKER_00: For example, if a house has MellowRuse taxes, how that's going to factor in, what that number looks like.
• 1:36
  SPEAKER_00: If it has homeowners association dues, what that number looks like as well.
• 1:40
  SPEAKER_00: Because realistically, folks, if you're paying more than just a little bit for HOA and more than just a little bit if it exists for MellowRuse, you need to know those numbers because they could equate to hundreds of dollars per month in addition to your mortgage payment.
• 1:56
  SPEAKER_00: Finally, make sure you get a very solid pre-approval from the lender.
• 2:00
  SPEAKER_00: You definitely want to have the better going in, the better off you're going to be, because whenever sellers agents such as myself, I also work with buyers, but whenever we look at offers coming in, we do want them vetted.
• 2:11
  SPEAKER_00: We want to make sure that the buyer is as strong as possible out of the gate.
• 2:15
  SPEAKER_00: So we just don't have that question.
• 2:17
  SPEAKER_00: When we talk to the seller, we can say, listen, this buyer has a full underwriter approval.
• 2:22
  SPEAKER_00: I have spoken with the lender, and in fact, the lender reached out to me.
• 2:26
  SPEAKER_00: You see how that works.
• 2:27
  SPEAKER_00: So it does help when you have active lenders on that side of it.
• 2:30
  SPEAKER_00: For your sellers out there, make sure when you're reviewing offers, if it's a multiple offer situation, which a lot of properties happen to be this time of year in Santa Clarita Valley, to stack up those lenders and find out which ones are best qualified.
• 2:43
  SPEAKER_00: It always doesn't come down to the most of the people that have the highest down payments.
• 2:47
  SPEAKER_00: You need to look at those numbers, find out where they fall in the FICO score arena, and those lenders will be able to best let you know.