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Dangers of hiring an outside agent when selling your home, the data maybe missing or corrupted · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Hello everyone, this is Connor McIver, first responder realtor, and always Connor with honor, bringing you the latest from Santa Clarita Valley Real Estate Market.
• 0:07
  SPEAKER_00: Today is going to be October 24th, 2024, and we're at the 298th day of 2024.
• 0:14
  SPEAKER_00: Today we have some particularly important updates focusing on price reductions, new listings, and what's coming soon in the Santa Clarita market.
• 0:23
  SPEAKER_00: So stay tuned for the most up-to-date information.
• 0:25
  SPEAKER_00: This will definitely help you make informed decisions whether you're a buyer or a seller.
• 0:30
  SPEAKER_00: In the last seven days, we've seen a total of 552 active listings across single-family homes, condos, and townhomes in the Santa Clarita Valley.
• 0:39
  SPEAKER_00: So breaking that down, we've had 10 properties coming soon.
• 0:42
  SPEAKER_00: 62 new listings have been added to the inventory and a significant 97 price changes.
• 0:49
  SPEAKER_00: It's crucial to note these price changes aren't just a majority price changes.
• 0:55
  SPEAKER_00: 90% or better are the properties that have had their prices reduced in the past seven days.
• 1:02
  SPEAKER_00: This is important to note, especially in a market where pricing strategy can definitely make or break a sale.
• 1:09
  SPEAKER_00: We also have 20 properties that have entered back on the market, which can present unique opportunities for buyers who previously missed out.
• 1:16
  SPEAKER_00: Currently, 29 homes are under contract.
• 1:19
  SPEAKER_00: 47 properties are pending sale, meaning the market is still moving despite these adjustments.
• 1:25
  SPEAKER_00: Now let's talk specifics.
• 1:27
  SPEAKER_00: We have a 1.750 million custom home for sale in Boke Canyon.
• 1:33
  SPEAKER_00: It's a six-bedroom, five-bath property, 4,800 square feet in lot size.
• 1:38
  SPEAKER_00: That's an acre, folks.
• 1:39
  SPEAKER_00: Very, very close, giving you ample space.
• 1:42
  SPEAKER_00: Another prime example of a great deal is a three-bedroom home in the Tresh Robla subdivision.
• 1:46
  SPEAKER_00: And this is going to be listed at$514,950.
• 1:49
  SPEAKER_00: It's got great freeway access from there, and you're pretty much in the hub there of Canning Country, so the access to most everything is very simple.
• 1:57
  SPEAKER_00: And that's very perfect for first-time home buyers looking for an affordable entry point into the market.
• 2:02
  SPEAKER_00: Now price per square foot varies across these listings, showing how diverse the Santa Crita market is.
• 2:08
  SPEAKER_00: For example, a home on Elias Avenue in Saugas is listed at$545.06 per square foot.
• 2:14
  SPEAKER_00: Meanwhile, the custom Boket Canyon home is listed at$486.79 per square foot.
• 2:21
  SPEAKER_00: These figures can give both buyers and sellers valuable insight into the current pricing trends so you can make better decisions.
• 2:29
  SPEAKER_00: We've also seen a number of properties reducing their prices.
• 2:32
  SPEAKER_00: For example, Plum Canyon has dropped its price.
• 2:36
  SPEAKER_00: Property in Plum Canyon has dropped its price and now is listed at 1.163 million three hundred thousand.
• 2:44
  SPEAKER_00: This type of adjustment is crucial for sellers to remain competitive, especially in this current market, and a price adjustment online is going to then trickle down into the syndication system.
• 2:57
  SPEAKER_00: So now you're getting more exposure for your home.
• 3:00
  SPEAKER_00: And of course, if it's priced too high at the time it's listed, making those adjustments are very necessary to bring more attention and more buyers to your doorstep.
• 3:10
  SPEAKER_00: This definitely definitely does bring me to an important point.
• 3:14
  SPEAKER_00: As I was doing research this morning, it struck me if your agent isn't a part of the local board of realtors, it can affect the visibility of your listing.
• 3:23
  SPEAKER_00: And it's not going to include all of the data.
• 3:27
  SPEAKER_00: That's the important thing because savvy real estate buyers are looking for potential data points for listings before they go out and even look at the properties.
• 3:38
  SPEAKER_00: One of these indicators, and I put this up at the blog post for today at www.santaclarita openhouses.com, is the fact that it's missing some subdivision elements and neighborhoods.
• 3:52
  SPEAKER_00: So if you have your house on the market for sale and it's listed with an agent that's not a direct member of our local board, it's not going to be seen with all of the data.
• 4:02
  SPEAKER_00: They're not going to be able to search by neighborhood or find out where it's actually located.
• 4:07
  SPEAKER_00: And maybe they're looking at a neighborhood because of school proximity to freeways, proximity to work, and those sorts of things.
• 4:14
  SPEAKER_00: If the information isn't there, they're not going to see it.
• 4:16
  SPEAKER_00: And in addition, that information is going to change the value of your home as it shows up syndication systems.
• 4:24
  SPEAKER_00: I know you've seen it.
• 4:25
  SPEAKER_00: You list your house for sale, it goes out there, and then one of these syndication sites, like the Big Z or these others, or say, well, your house is worth$850,000 when you have it priced at$900,000.
• 4:36
  SPEAKER_00: In some cases, that data is the reason why it's lacking that$50,000 in what the syndication site believes it's valued at.
• 4:46
  SPEAKER_00: In addition, though, the syndication sites also have their own programming and algorithm built in to telling you what a particular home is worth.
• 4:55
  SPEAKER_00: So weigh that gently.
• 4:57
  SPEAKER_00: But again, the data isn't there, so the consumer can't make the best offer possible because it's lacking, because you decided to list it with an agent that isn't a member of the actual local board.
• 5:09
  SPEAKER_00: Now, of course, your listing is going to be in the local board.
• 5:12
  SPEAKER_00: However, it's not going to have all of the fields required that our local board requires.
• 5:17
  SPEAKER_00: So there's going to be information that hasn't been placed into the system that's going to be able to be provided to the people that are searching for houses.
• 5:26
  SPEAKER_00: Very simple.
• 5:27
  SPEAKER_00: Please, if you have more questions on that, let me know.
• 5:31
  SPEAKER_00: I do know that this is going to create a little bit of a stir.
• 5:36
  SPEAKER_00: Contact me, more than happy to talk about it.
• 5:39
  SPEAKER_00: As always, I'm really there for you.
• 5:41
  SPEAKER_00: This has been your Santa Clara Real Estate update.
• 5:44
  SPEAKER_00: I'll have some associated shorts produced based on this as well.
• 5:48
  SPEAKER_00: And when you're ready, reach out to me.
• 5:50
  SPEAKER_00: I know we have a weekend coming up, so open houses are going to be a plethora, I'm sure.
• 5:55
  SPEAKER_00: Once we watch real estate charges start to slow down a bit, like it has in Santa Clara Valley.
• 6:01
  SPEAKER_00: And by a bit, I mean by a small percentage, but that additional inventory.
• 6:06
  SPEAKER_00: Just a couple months ago, we weren't breaching 500 units for sale at all.
• 6:10
  SPEAKER_00: Now we're in the 550s, and that will probably continue throughout the holidays, just because the holidays and this being an election year, that tends to slow things down just a bit.
• 6:21
  SPEAKER_00: I'm Connor with Honor.
• 6:22
  SPEAKER_00: Thank you for watching.
• 6:23
  SPEAKER_00: We will be back in the next one over and out.