Latest / Connor with Honor: AI, Real Estate and Real Life / Santa Clarita Real Estate Update | Inventory Drops Again | Market Watch Report (769 Active Listings)

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Santa Clarita Real Estate Update | Inventory Drops Again | Market Watch Report (769 Active Listings) · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Real estate inventory continues to dip.
• 0:02
  SPEAKER_00: We are at 769 active total listings on the market currently for sale in the Santa Clarita Valley cities.
• 0:11
  SPEAKER_00: This is down from we had about 850, 860, not very long ago, just a couple months ago.
• 0:16
  SPEAKER_00: So we have continued to dwindle in the amount of real estate listings that are out there.
• 0:21
  SPEAKER_00: Let me give you this seven-day snapshot as far as what's happening in the market here in Santa Clarita.
• 0:26
  SPEAKER_00: We have seven coming soon.
• 0:27
  SPEAKER_00: 61 new listings posted this week.
• 0:29
  SPEAKER_00: 74 properties have had their prices changed.
• 0:32
  SPEAKER_00: 14 properties have gone back on the market.
• 0:34
  SPEAKER_00: 31 properties active under contract, 50 pending, 60 closed, 7 expired, 13 canceled, 14 have been put on hold, and 7 have been withdrawn from the real estate market.
• 0:43
  SPEAKER_00: What's happening currently here in Santa Clarita Valley, besides my head being cold, because the weather has definitely changed.
• 0:49
  SPEAKER_00: The mornings are somewhere around in the 50s, every morning now, and they were in the 70s not too long ago.
• 0:54
  SPEAKER_00: So here we are.
• 0:55
  SPEAKER_00: We have changed seasons and it is very exciting.
• 0:58
  SPEAKER_00: The buyer drive out there is still alive and well for properties that are put on the market and marketed correctly.
• 1:05
  SPEAKER_00: Buyers are seeing those properties and then they're venturing out and looking at them.
• 1:10
  SPEAKER_00: Now, there's a couple more uh Fed meetings this year.
• 1:13
  SPEAKER_00: It could potentially mean that interest rates somehow get reduced.
• 1:17
  SPEAKER_00: Now, that Fed funds rate, the rate that they always talk about when the Fed meets and this and that, it's not so much dependent or the mortgage rate isn't dependent on that.
• 1:25
  SPEAKER_00: Mortgage rates more tied to that 10-year bond.
• 1:28
  SPEAKER_00: That's pretty much how that mechanism works.
• 1:31
  SPEAKER_00: It's very complicated.
• 1:32
  SPEAKER_00: Everything in finance, I think, is meant to be complicated.
• 1:35
  SPEAKER_00: So it confuses all of us.
• 1:36
  SPEAKER_00: So we really don't know whether we're coming or going.
• 1:38
  SPEAKER_00: But when you're watching that rate, looking at, you know, maybe spending on interest when you're purchasing a residence, all you have to do is just gauge that where your rental numbers happen to be.
• 1:48
  SPEAKER_00: And then look at the mortgage interest deduction on your taxes.
• 1:51
  SPEAKER_00: Check with your CPA or do your GPT searches or whatever your large language models and look and see if it's going to benefit you, just not in that area, but also the area of the psychological benefits with regard to homeownership.
• 2:05
  SPEAKER_00: If you're a buyer, if you're a seller and thinking about maybe jumping ship from California, I get a lot of those calls.
• 2:10
  SPEAKER_00: But we have a lot of people coming in as well.
• 2:12
  SPEAKER_00: So it seems like where people are being replaced, the ones that are leaving, we're not lacking individuals here in Southern California.
• 2:18
  SPEAKER_00: So please reach out, make sure you get good values on your houses.
• 2:21
  SPEAKER_00: I was doing some research last week.
• 2:23
  SPEAKER_00: I was seeing where some of the syndication sites give different values depending on how you're logged into the system.
• 2:29
  SPEAKER_00: If you're looking for a value of a residence, and I always run this for my sellers, sellers so they don't have to get involved in it, but I'll go to all the syndication sites and I'll do the runs a couple different ways as a guest, not being logged in in an incognito window using maybe a different browser than I normally use just to make sure there's no connection there.
• 2:47
  SPEAKER_00: And then I'll also log in and do it as if I normally would.
• 2:51
  SPEAKER_00: Those numbers are different, folks.
• 2:52
  SPEAKER_00: It's exciting.
• 2:53
  SPEAKER_00: And again, being played, yeah, probably.
• 2:55
  SPEAKER_00: I'm Connor with Honor Santa Clara Openhouses.com.
• 2:58
  SPEAKER_00: Thanks for watching.