Latest / Connor with Honor: AI, Real Estate and Real Life / Santa Clarita Listings Are Climbing, but Buyers Are Still Hungry

Transcript

Santa Clarita Listings Are Climbing, but Buyers Are Still Hungry · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Well, here we are at the 18th of July 2024.
• 0:03
  SPEAKER_00: I'm Connor with Honor, local agent here in Santa Clarita Valley.
• 0:07
  SPEAKER_00: Let's talk about the local inventory.
• 0:09
  SPEAKER_00: Currently, we have 472 active on-market residential listings, single-family residences, condominiums, townhomes, all total for sale 472.
• 0:21
  SPEAKER_00: That number is quite a big increase over the past several months, where we were in the high 200s, low 300s.
• 0:30
  SPEAKER_00: So now we have these extra listings, but what that has not done is caused a pause in the market, at least yet.
• 0:37
  SPEAKER_00: We still have a very high buyer drive, lots of buyers still out there purchasing real estate, and you can see this from the days on market time frames when we have real estate listings that only take a few days to get into escrow.
• 0:49
  SPEAKER_00: Some of the things to look out for in this particular market is just making sure that the people you're selecting to represent you actually have the gear or pack the gear to serve in real estate.
• 1:01
  SPEAKER_00: This is going to include the agent you select and also the lender.
• 1:04
  SPEAKER_00: The best way to vet them is to talk to them, have a conversation with them, and in addition to that, find out what they're doing online.
• 1:12
  SPEAKER_00: Is it all self-absorb absorbing, selfish talk, or is it something that actually people can learn from?
• 1:21
  SPEAKER_00: For example, like what steps you need to take to get approved for a home loan, what types of lenders you should speak with, and then when it starts into the real estate realm, what can you expect to pay a buyer's agent for commission?
• 1:35
  SPEAKER_00: What can you expect to pay to have your house listed for sale in this current market?
• 1:39
  SPEAKER_00: And don't forget we have changes coming up August with regard to commissions becoming concessions.
• 1:46
  SPEAKER_00: So now we have a different different terminology.
• 1:48
  SPEAKER_00: Still, they both mean different things.
• 1:50
  SPEAKER_00: However, it's more of a contribution or an offering other than something that has to be done in the way of payment towards your agents.
• 2:00
  SPEAKER_00: But everything, of course, will need to get agreed upon more sooner or later.
• 2:04
  SPEAKER_00: Here's how the seven-day breaks down today.
• 2:06
  SPEAKER_00: We have 15 coming soon listings, 85 new listings have entered the market in the past seven days.
• 2:12
  SPEAKER_00: That's actually quite high.
• 2:14
  SPEAKER_00: 49 listings have actually had price changes.
• 2:17
  SPEAKER_00: That's also a larger than normal lumber number, lumber number.
• 2:22
  SPEAKER_00: We're seeing that typically at 25 to 30, so we're up almost to 50 now.
• 2:30
  SPEAKER_00: 18 properties have come back on the market.
• 2:32
  SPEAKER_00: That's not unusual.
• 2:33
  SPEAKER_00: These properties haven't sold or they were in escrow, but they came back.
• 2:38
  SPEAKER_00: Sometimes the properties that come back on the market, it's really not an issue with the property.
• 2:44
  SPEAKER_00: It could be that the buyer lost their ability to finance by doing something that they shouldn't have done, i.e., you go out there and buy that$110,000 awesome 4x4 and get it wrapped and financed at the same time you're an escrow on a residence, you probably won't qualify after that point.
• 3:01
  SPEAKER_00: Just food for thought.
• 3:03
  SPEAKER_00: Before doing anything in the lending world, even paying off a credit card, make sure you talk to your lender and find out if it's going to hurt or help or not do anything.
• 3:14
  SPEAKER_00: Your choice.
• 3:15
  SPEAKER_00: I'm Connor with Honor.
• 3:16
  SPEAKER_00: Thank you for watching today's real estate update.
• 3:18
  SPEAKER_00: We will be back.
• 3:19
  SPEAKER_00: I do post all of this stuff at www.santaclarita openhouses.com forward slash blog.
• 3:26
  SPEAKER_00: That's where you'll see it.
• 3:28
  SPEAKER_00: Go to the main site.
• 3:29
  SPEAKER_00: I have it unlocked.
• 3:30
  SPEAKER_00: You can search for real estate all day long.
• 3:32
  SPEAKER_00: When you're ready, reach out to me.
• 3:33
  SPEAKER_00: I'd love to have that conversation with you about real estate, whether it's here in Santa Clarita or beyond.
• 3:39
  SPEAKER_00: Thank you so much for watching.
• 3:40
  SPEAKER_00: Be well.
• 3:40
  SPEAKER_00: I'm Connor with honor.
• 3:42
  SPEAKER_00: Over and out.