Latest / Connor with Honor: AI, Real Estate and Real Life / Saugus real estate update home sales slowing, buyer opportunities and what sellers need to get from their lender

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Saugus real estate update home sales slowing, buyer opportunities and what sellers need to get from their lender · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Is everybody ready?
• 0:01
  SPEAKER_00: Good day, Saugus.
• 0:02
  SPEAKER_00: It's November 13th, 2024.
• 0:04
  SPEAKER_00: I'm Connor with Honor.
• 0:06
  SPEAKER_00: Let's get into your daily update for Saugus California.
• 0:09
  SPEAKER_00: What's happening as part of our commitment to keep you informed?
• 0:12
  SPEAKER_00: Today's report is going to include all the latest activity as far as active listings and also sold properties in the last 120 days.
• 0:20
  SPEAKER_00: Also, we're going to break down some trends, trends, and how it impacts both buyers and sellers.
• 0:25
  SPEAKER_00: So let's dive right in.
• 0:26
  SPEAKER_00: In the last 120 days, Saugus has seen steady real estate activity.
• 0:30
  SPEAKER_00: Homes are spending an average of 20 to 30 days on the market, with some moving even faster due to the high demand.
• 0:38
  SPEAKER_00: We've observed a range of price adjustments, which is promising news for buyers looking for value in a competitive market.
• 0:46
  SPEAKER_00: So here's what's currently available in Saugus, give you some price ranges for all the actual active inventory.
• 0:52
  SPEAKER_00: All you have to do is go to Santa Clarita Openhouses.com.
• 0:56
  SPEAKER_00: That's my website.
• 0:57
  SPEAKER_00: You'll be able to see everything active.
• 0:59
  SPEAKER_00: It is completely unlocked.
• 1:00
  SPEAKER_00: So entry-level condos, people that are just starting out, those prices are starting around$375,000.
• 1:07
  SPEAKER_00: Those are for the condos, making them definitely an accessible option for first-time buyers and investors.
• 1:13
  SPEAKER_00: For single-family residences and mid-range homes, they're listed between$750,000 and$850,000, with many offering three to four bedroom, and these are ideal for growing families.
• 1:25
  SPEAKER_00: The higher-end properties, larger homes with five bedrooms or more recent renovations, larger lots, more separate from the neighbors, they can exceed a million dollars currently.
• 1:36
  SPEAKER_00: Now, in general, homes in Saugus, California across these categories are seeing days on markets ranging from 10 to 60 days, with higher priced homes sometimes taking a little bit longer to sell.
• 1:47
  SPEAKER_00: These are the homes that are going to be closer to a million or above.
• 1:50
  SPEAKER_00: Price adjustments are also very common.
• 1:52
  SPEAKER_00: This is providing room for negotiation in many cases.
• 1:56
  SPEAKER_00: Turning to recently sold properties, the data shows us that properties and prop popular price ranges, especially under$900,000, they move rather quickly in Saugus.
• 2:06
  SPEAKER_00: Most sellers in SAUGUS are open to conventional loans, with FHA and VA financing options, options also widely accepted.
• 2:15
  SPEAKER_00: Cash offers are gaining traction as well, giving sellers additional flexibility when it comes to closing.
• 2:21
  SPEAKER_00: Now for buyers, it's definitely a great time to act, particularly if you're pre-approved and ready to make an offer.
• 2:28
  SPEAKER_00: With the inventory moving steadily and in some cases rather quickly, staying informed and flexible on financing can be key.
• 2:36
  SPEAKER_00: Sellers take note, buyers are watching pricing trends closely, so a competitive list price combined with strategic marketing will maximize your chances for a quick sale.
• 2:46
  SPEAKER_00: And for sellers out there, make sure that when you do get these buyers that are coming to your properties, make sure that your agent follows up with the lender for the buyers if the buyers are going to be using a loan.
• 2:58
  SPEAKER_00: A big fall apart part of a real estate transaction is sometimes when the agent doesn't do due diligence with regard to the offer received.
• 3:07
  SPEAKER_00: They're just very excited to get it.
• 3:09
  SPEAKER_00: So what they end up doing is they call their seller, inform them there is a bit of negotiation that goes on, but never once is the actual lender called to figure out if the buyer truly has been fully pre-qualified or if it was just some kind of a telephone qualification, which does still happen, believe it or not.
• 3:29
  SPEAKER_00: So sellers in Saugas, California and the rest of Santa Creta Valley or elsewhere, take heed and make sure that you talk to your agent.
• 3:37
  SPEAKER_00: Hopefully, if they're worth their salt, they would have already done this.
• 3:40
  SPEAKER_00: In addition, you lenders out there, it doesn't hurt to make a phone call to the listing agent at the same time the offer's being made.
• 3:48
  SPEAKER_00: It's kind of a weird situation where sometimes lenders aren't really that approachable or don't want to approach for whatever reason.
• 3:56
  SPEAKER_00: But it really does make a difference whenever I'm representing a seller and I get a phone call from a lender even before the agent that submitted the offer calls me.
• 4:06
  SPEAKER_00: It does make me feel honorable and it does make me feel a lot more relaxed.
• 4:11
  SPEAKER_00: Because of that conversation, I can then convey to my seller exactly what I talk to the lender about the specific buyer.
• 4:19
  SPEAKER_00: And besides the amount they're offering and maybe them changing some kind of contingency time frames to make the transaction go a little faster.
• 4:27
  SPEAKER_00: Besides those things, and besides the money, financing is incredibly important.
• 4:33
  SPEAKER_00: I want to know at whatever price we agree on that this lender's going to be available.
• 4:38
  SPEAKER_00: He's not just somebody that has to basically only be contacted during business hours and only via email, for example, or only a business phone.
• 4:48
  SPEAKER_00: And that does happen in corporate lending where you have credit unions and such that don't have any outside those hourly resources to be able to have the borrower speak with the actual lender.
• 5:02
  SPEAKER_00: There's a lot of that, and it's very nice to be able to go to my seller and say, yeah, this lender's available.
• 5:07
  SPEAKER_00: I could talk to him at three o'clock in the morning.
• 5:10
  SPEAKER_00: Not that I would, but I could if we needed to get an answer to something.
• 5:13
  SPEAKER_00: I'm Connor with Honor.
• 5:15
  SPEAKER_00: Be well.
• 5:15
  SPEAKER_00: This is your Saugus California update.
• 5:17
  SPEAKER_00: We'll be back tomorrow talking about New Hall and what's happened there in the past 120 days as far as sold properties go.
• 5:23
  SPEAKER_00: Maybe less, it's going to depend on those numbers.
• 5:26
  SPEAKER_00: Because what I do every single day is I take apart an individual city in Santa Clarita Valley and provide that to my buyers and sellers and those of you interested.
• 5:36
  SPEAKER_00: Of course, always having the overall view of Santa Clarita Valley in total.
• 5:41
  SPEAKER_00: I'm Connor with Honor, over and out.