Latest / Connor with Honor: AI, Real Estate and Real Life / Santa Clarita real estate market update Acton and Agua Dulce 2025 predictions

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Santa Clarita real estate market update Acton and Agua Dulce 2025 predictions · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Let's get started.
• 0:00
  SPEAKER_00: Today's December 29th, 2024, 364th day of the year.
• 0:05
  SPEAKER_00: We're getting close, 52 week week of this year.
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  SPEAKER_00: So this is Santa Cruita Valley right now.
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  SPEAKER_00: It today we are looking at a total of 435 active real estate listings all across all of the Santa Cruz Valley.
• 0:19
  SPEAKER_00: That's going to include Acton, Agua Dulce, Castella, Kenyon Country, New Hall Saugas, Stevenson Ranch, and Valencia.
• 0:27
  SPEAKER_00: That is 435.
• 0:28
  SPEAKER_00: That's it total.
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  SPEAKER_00: Single family residences 305.
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  SPEAKER_00: We have an average price range in there, about 1.1 million.
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  SPEAKER_00: Condominiums, we have 95 of those, 35 townhomes.
• 0:39
  SPEAKER_00: I'm going to break it into the Acton and Agua Dulce real estate markets here in just a second.
• 0:44
  SPEAKER_00: I'll give you those numbers as well.
• 0:46
  SPEAKER_00: Average days on market time frame all across Santa Clarita Valley, 75 days, and sales price trends.
• 0:54
  SPEAKER_00: So single family residences and those homes are averaging about$457 per square foot.
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  SPEAKER_00: A lot of people don't talk about the per square foot price ranges, but that actually becomes quite critical when you're looking at very similar houses that might have very different pricing.
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  SPEAKER_00: So if you're looking at something, let's say in North Park, you're looking at another house in the same exact tract in North Park, and let's say it's by the same builder, maybe even on the same street, same configuration, bedroom, bathroom count, square footage, and you're seeing that one of them is priced, let's say at 950, and the other was priced at$1 million.
• 1:35
  SPEAKER_00: Then looking at the price per square foot and trying to break down the differences between those two residences as far as upgrades, maybe updating, maybe some kind of expansion or additions like swimming pool, newer roof, those sorts of things, that's going to become critical.
• 1:53
  SPEAKER_00: And that price square foot is definitely going to help.
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  SPEAKER_00: Now, looking at the actual Acton and Agua Dulce real estate markets, 30 active listings currently in Acton, and that's an average of about$987,000.
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  SPEAKER_00: Median days on market price range there, 71.
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  SPEAKER_00: You're going to notice the further you get away from Los Angeles, the trend is the longer it takes to sell real estate.
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  SPEAKER_00: That's very typical, especially when the major city center is commute dependent on this the surrounding areas or the surrounding cities.
• 2:28
  SPEAKER_00: Now, as you move out to the Antelope Valley, that changes a little bit because Antelope Valley, a lot of those people are working there even north of there in Rosamond, even further, maybe Edwards Air Force Base.
• 2:39
  SPEAKER_00: So they're not going to be so dependent on Los Angeles.
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  SPEAKER_00: So that price per square foot, the further you get away from Palmdale, for example, or maybe Central Lancaster, then properties are going to be less expensive, and then of course carry a longer days on market timeframe.
• 2:54
  SPEAKER_00: That's very that's very typical of most real estate market.
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  SPEAKER_00: Aqua Dulce 23 properties are currently active, uh, average price of$1.2 million, median days on market$82, and ranges$459,999 to$3.9 million.
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  SPEAKER_00: One of the things that I will tell you about both of these areas, they're going to give you more expansiveness between housing.
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  SPEAKER_00: You're not going to see that tract, you're not going to have that tract or that neighborhood feeling like you might experience in Valencia or Saugus or the other areas in Santa Clarita Valley.
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  SPEAKER_00: You're going to be a little bit further apart from your neighbor.
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  SPEAKER_00: You're going to be able to buy acreage, and that acreage is probably going to have some kind of an agricultural factor.
• 3:37
  SPEAKER_00: We're going to be able to grow things if you'd like, and also a livestock factor where you can have actual animals, horses, cattle, not just, you know, dogs and cats.
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  SPEAKER_00: So that's something to look at.
• 3:47
  SPEAKER_00: Well, and also check the zoning in those areas.
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  SPEAKER_00: There aren't very many homeowners associations out there, but some areas do.
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  SPEAKER_00: And that's going to have more of a tract feel.
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  SPEAKER_00: But again, the houses are maybe on half an acre, quarter acre an acre, so you're going to feel a little bit different out there.
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  SPEAKER_00: Most of the traffic that is uh coming into and out of Acton and Aqua Dulce, they're either going to be going to Palmdale via the 14 or they're going to be coming south into the Santa Clarita Valley or Greater Los Angeles.
• 4:14
  SPEAKER_00: Real estate headlines, the mortgage rates have haven't changed much.
• 4:18
  SPEAKER_00: Last year, if you remember, they were talking about mortgage rates actually dropping, and everybody was very excited and never just seemed to pan out very much at all.
• 4:26
  SPEAKER_00: Once the economy starts getting better, and we're already seeing that, um, more than likely, mortgage rates probably aren't going to move much at all as we get in the next year.
• 4:35
  SPEAKER_00: They are they're going to depend on a number of factors.
• 4:38
  SPEAKER_00: Your bond is really their hub for changes.
• 4:41
  SPEAKER_00: Uh, the Fed rate, that's the rate typically that buyers, well, that is the rate that banks borrow money back and forth and trade trade uh trade investments back and forth that particular interest rate.
• 4:53
  SPEAKER_00: The Fed modifies that.
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  SPEAKER_00: If they do lower it considerably, the banks kind of help the mortgage rate, but really it's dependent on the bond.
• 5:01
  SPEAKER_00: So that's also something to watch.
• 5:02
  SPEAKER_00: There's several websites you can look into.
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  SPEAKER_00: I wouldn't give up any personal information in order to see what's happening in that interest rate realm because there's no need to.
• 5:12
  SPEAKER_00: There's so much free, accurate advice online.
• 5:15
  SPEAKER_00: It's just a matter of finding it.
• 5:17
  SPEAKER_00: You want to see those resources, you can try bankrate.com.
• 5:20
  SPEAKER_00: Just there's gonna be pop-ups, there's gonna be a lot of advertisements.
• 5:24
  SPEAKER_00: You can also go to my site, Santa Clarita Openhouses.com.
• 5:27
  SPEAKER_00: No registration necessary, no pop-ups, no advert.
• 5:30
  SPEAKER_00: Well, ha, do have a pop-up.
• 5:32
  SPEAKER_00: It's gonna say, hey, don't be a ninja.
• 5:34
  SPEAKER_00: If you'd like to uh have me contact you about real estate, feel free to do so.
• 5:39
  SPEAKER_00: But you can look at every listing for sale, all the open houses, and get all the blog information and the stuff that I post every day about the Santa Clarita real estate market for free, and you don't have to put in any of your information.
• 5:51
  SPEAKER_00: All right, so mortgage rates we're gonna see in 2025.
• 5:54
  SPEAKER_00: Those are probably gonna stay relatively where they are now, probably not change much.
• 6:00
  SPEAKER_00: We'll have to watch as far as the the they continue to remain the same, how that's gonna affect the market.
• 6:07
  SPEAKER_00: Again, a lot of things could change next year, but it seems like it's probably gonna be very standard.
• 6:12
  SPEAKER_00: We're probably gonna have anywhere from a five to eight percent increase overall next year.
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  SPEAKER_00: We're gonna probably see that start to kick off here, the beginning of quarter one, as we get into January, February, and then March.
• 6:23
  SPEAKER_00: And remember, a lot of people that are gonna be getting their houses ready to sell are going to be do doing so because they're either downsizing empty nesters type people, or they're gonna have kids that they want to move out from Los Angeles to Santa Clarita because they're tired of paying for private school.
• 6:39
  SPEAKER_00: And a lot of the schools out here, we have blue ribbon and they're public, so they might as well make their tax dollars work for them.
• 6:45
  SPEAKER_00: Millennials leave the charge in home purchases in 2024.
• 6:49
  SPEAKER_00: Very true.
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  SPEAKER_00: If you're in that category of millennials, you're gonna have a different process for looking up real estate.
• 6:55
  SPEAKER_00: You're not gonna be as singular agent dependent, but you are gonna want to find somebody that you can hit your trailer to that is gonna be honest with you about the market and knows all those little nuances to be able to get you your best deal when it comes to purchasing real estate.
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  SPEAKER_00: Also, you folks the millennials are big contract readers, please do your due diligence.
• 7:15
  SPEAKER_00: Those of you that aren't millennials, and those of you millennials that might have missed that uh that memo, definitely want to read these buyer contracts that they're putting in front of you and find out exactly how much time you're gonna be tied to this agent, and if there's some kind of an easy out clause to get out of that relationship, if in fact you decide they're not serving you well.
• 7:36
  SPEAKER_00: So look at those options also.
• 7:38
  SPEAKER_00: Um, actin and aqua doce, we talked about the spacious properties, the larger lot sizes, cash buyers.
• 7:45
  SPEAKER_00: Uh, cash buyers above a million, that seems to be common.
• 7:49
  SPEAKER_00: Um, even in 850 cash buyers are out there holding on to that equity or getting gift money from parents, purchasing real estate.
• 7:57
  SPEAKER_00: Some of the things that they offer, and you sellers might want to be aware of this.
• 8:00
  SPEAKER_00: They might waive inspections altogether, or they might cut those time frames down to very short, wanting to close an entire transaction in 10 days.
• 8:09
  SPEAKER_00: Can you close a cash transaction in 10 days?
• 8:12
  SPEAKER_00: Yes.
• 8:13
  SPEAKER_00: But you got to make sure, as an agent, if you're representing a seller, as we do, you got to get all those disclosures done because they're going to want to see those very quickly, because sometimes those buyers are very dependent on the information the seller conveys about the property they've been living in for X amount of years.
• 8:29
  SPEAKER_00: So they're going to have the documentation to be able to provide.
• 8:33
  SPEAKER_00: And if you haven't done your due diligence with your seller and you happen to get a cash offer, they might not stick around.
• 8:39
  SPEAKER_00: Maybe they're going to go right on something else.
• 8:40
  SPEAKER_00: So you got to do that up front, agents out there.
• 8:43
  SPEAKER_00: And sellers be ready to answer it.
• 8:44
  SPEAKER_00: They're going to be disclosures, gonna ask you if you have any ghosts in your house or lots of other items.
• 8:50
  SPEAKER_00: Of course, how many bedrooms, how many bathrooms?
• 8:52
  SPEAKER_00: Have you painted anything?
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  SPEAKER_00: Do you have any leaks?
• 8:54
  SPEAKER_00: And control that's gonna ask about that.
• 8:56
  SPEAKER_00: Have you got any notices?
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  SPEAKER_00: Anything about the HOA changing or going up, those sorts of things.
• 9:01
  SPEAKER_00: That's kind of your coming to Jesus moment.
• 9:03
  SPEAKER_00: So you're gonna want to fill those out very accurately, please.
• 9:07
  SPEAKER_00: All right, so recap of the steady market.
• 9:09
  SPEAKER_00: We've talked about that.
• 9:10
  SPEAKER_00: Uh inventory balances, we're gonna see inventory kick up.
• 9:13
  SPEAKER_00: We were at 500 units just last month.
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  SPEAKER_00: So now kicking into January, we're gonna see it start to go up from where we are in the 400s, probably to five or 600 as we get into March.
• 9:24
  SPEAKER_00: There's gonna be more choices out there, but also the buyer drive will also increase next year.
• 9:30
  SPEAKER_00: So you have competition points on both factors, both seller competition with other listings that are very similar to what they're selling, and also buyer competition.
• 9:37
  SPEAKER_00: Buyers are gonna be button heads again next year, especially for those properties that are gonna be priced perfectly.
• 9:44
  SPEAKER_00: I'm Connor with Honor.
• 9:45
  SPEAKER_00: Thank you for watching today's update.
• 9:46
  SPEAKER_00: We will be back tomorrow.
• 9:47
  SPEAKER_00: Don't forget to check out my book.
• 9:49
  SPEAKER_00: You can pick it up on Amazon, how to buy and sell real estate.
• 9:52
  SPEAKER_00: It is for Santa Clarina specific, and it's the 2025 updated edition.
• 9:56
  SPEAKER_00: It talks about mellow ruse, it talks about being able to make better offers on properties and you sellers what you need to look for when it comes to hiring an agent to sell your pad.
• 10:05
  SPEAKER_00: I'm Connor with Honor.
• 10:06
  SPEAKER_00: We'll talk to you soon over and out.