Latest / Connor with Honor: AI, Real Estate and Real Life / Breaking loose the Santa Clarita real estate market due to the tons of additional inventory - 113 in the past week alone

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Breaking loose the Santa Clarita real estate market due to the tons of additional inventory - 113 in the past week alone · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Here we are at March 3rd, 2025.
• 0:02
  SPEAKER_00: Looks like we're at a bit of a turning point here in Santa Clarita real estate.
• 0:07
  SPEAKER_00: This is brought to you by Santa Clarita Openhouses.com.
• 0:10
  SPEAKER_00: You can find every single listing there that is for sale currently, plus everything that has an open house being hosted.
• 0:16
  SPEAKER_00: So please check that out.
• 0:18
  SPEAKER_00: We also have Facebook pages, Instagram, TikTok, all that fancy stuff.
• 0:21
  SPEAKER_00: So wherever you are online, including YouTube, you can definitely find us.
• 0:25
  SPEAKER_00: Let's talk about what's happening right now.
• 0:28
  SPEAKER_00: 565 active real estate listings.
• 0:31
  SPEAKER_00: That's up almost 30 in the past seven days.
• 0:34
  SPEAKER_00: In addition, new listings, 113 have entered the market in the past seven days here in Santa Cruz Valley.
• 0:41
  SPEAKER_00: Some kind of record has been broken.
• 0:43
  SPEAKER_00: We haven't seen numbers like that for many years.
• 0:46
  SPEAKER_00: But now we are aggressively listing real estate.
• 0:51
  SPEAKER_00: It is for sale out there.
• 0:52
  SPEAKER_00: A few things to know if you are a seller, that's going to increase your competition.
• 0:56
  SPEAKER_00: If you happen to be currently on the market having a house to be for sale, IBIS trends going to continue.
• 1:02
  SPEAKER_00: It seems like a lot of people are putting their houses up.
• 1:05
  SPEAKER_00: It could be that they're leaving the state.
• 1:07
  SPEAKER_00: We get those phone calls as well.
• 1:09
  SPEAKER_00: Some of them are just tired of California, apparently.
• 1:12
  SPEAKER_00: Some of them are actually moving up, and some of them are first-time buyers coming in.
• 1:16
  SPEAKER_00: So we really do have the entire, the entire as far as real estate goes, from first-time buyers to people that are relocating to California, out of California, and then of course those people that are empty nesters with kids that have all left, looking to downsize, and of course, other types of people that might want to go from a regular community into a senior community.
• 1:36
  SPEAKER_00: So we see everything.
• 1:37
  SPEAKER_00: But right now, one of the things that a seller should know if you're currently on the market for sale is to relook at your listing price depending on how long you've been on the market and see where that adjustment's going to come.
• 1:47
  SPEAKER_00: In addition, because the lowering of interest rates, it could mean that you should just hold nice and firm because what's going to end up happening is the market's going to catch up with your listing price, and you're going to have many buyers that are very interested, even though maybe it's been a little dull over the last month, month and a half, depending on when you started your property onto the market.
• 2:07
  SPEAKER_00: I will tell you that buyers, when they're looking for residential real estate, even if your house has been on the market a while, it's not going to make much difference because they're going to look at your property, they're going to look at the value, and then they're going to write an offer accordingly.
• 2:21
  SPEAKER_00: It'll then be up to you to whether you're going to counter, and typically most properties that have offers written are countered in that particular form just because the actual sales agent is going to utilize people that they know and they trust in the execution of escrow and title insurance, those sorts of things.
• 2:39
  SPEAKER_00: Other than that, the biggest concern that you'll have as a real estate seller is where you're going to respond with price, if in fact the price they offered or terms they offered aren't to your liking.
• 2:49
  SPEAKER_00: You buyers out there, as you're going out and looking at real estate, I've been using the car salesman analogy a lot lately to try to explain as far as the buyer-broker agreements that you're typically going to be signing.
• 3:01
  SPEAKER_00: And of course, everybody, it's mandated by law to have some kind of an executed contract before you go look at properties.
• 3:09
  SPEAKER_00: Take that contract and plug it into your favorite large language model, the Chat GPTs or the GROCs or whatever, and throw it in there and just see what it says about it.
• 3:18
  SPEAKER_00: But ultimately, your agent should be able to explain it, and you yourself should also write it to make sure you know what you're going to be signing.
• 3:25
  SPEAKER_00: Some of the highlights of those types of buyer-broker agreements, which everybody is going to have you sign, are going to be how long, what's the term, what type of properties, what locations.
• 3:34
  SPEAKER_00: For example, if you're split between Simi Valley and Santa Clarita Valley, you're not really sure which one's going to really float your boat, and you're looking at both areas.
• 3:43
  SPEAKER_00: It could be that the Santa Clarita Valley agent that you select isn't that familiar with Simi, and vice versa, Simi agents not very familiar with Santa Clarita.
• 3:53
  SPEAKER_00: And then you have Los Angeles, the northern end of LA.
• 3:55
  SPEAKER_00: Maybe you're looking at Northridge, Porter Ranch, Granada Hills, Silmar, those types of areas also.
• 4:01
  SPEAKER_00: Maybe those areas you're more comfortable with, those local agents.
• 4:04
  SPEAKER_00: It's going to depend.
• 4:05
  SPEAKER_00: But I will tell you that most agents, when you talk to them, they're going to be experts in every single city all across Southern California.
• 4:11
  SPEAKER_00: It's going to be up to you to see where they're located, what they say, and maybe look at some of their online content if they're posting stuff, except, of course, the selfies at the lake.
• 4:21
  SPEAKER_00: Maybe they're putting up things that are pertaining to real estate so you can make better decisions trying to educate people about the current real estate market.
• 4:30
  SPEAKER_00: Now we're the 3rd of March 2025.
• 4:33
  SPEAKER_00: This is my prediction, what's going to end up happening.
• 4:36
  SPEAKER_00: We're going to see more and more properties enter the market.
• 4:38
  SPEAKER_00: We're also going to see a heightened buyer drive because of the lowering of interest rates, because of the people that are more secure in the 10-year bond, those are actually moving a lot better as far as the government backing of the 10-year bond.
• 4:52
  SPEAKER_00: So we're watching the interest rates reduce.
• 4:55
  SPEAKER_00: And I believe that's going to continue.
• 4:56
  SPEAKER_00: How low will they go?
• 4:58
  SPEAKER_00: Probably not a whole lot, but it definitely makes sense if you look at rental numbers and span that over three or four years.
• 5:05
  SPEAKER_00: And I did a video on this how much you can actually save by just a typical building of equity in residential real estate, plus there is a mortgage interest deduction.
• 5:14
  SPEAKER_00: Definitely want to talk to your tax person.
• 5:16
  SPEAKER_00: These are advantages to owning real estate.
• 5:18
  SPEAKER_00: I'm Connor with Honor.
• 5:19
  SPEAKER_00: When you're ready, reach out.
• 5:20
  SPEAKER_00: Sent to ClaritaOpenhouses.com.
• 5:22
  SPEAKER_00: This has been your third of March update 2025.
• 5:25
  SPEAKER_00: The number for today's date is 15.
• 5:28
  SPEAKER_00: That's divided easily by 3, 3 times 5.
• 5:31
  SPEAKER_00: There you go.
• 5:32
  SPEAKER_00: Talk to you soon.
• 5:33
  SPEAKER_00: See you in the next one.