Latest / Connor with Honor: AI, Real Estate and Real Life / Unlock the Secrets of Santa Clarita Real Estate with Connor with Honor: Tips, Trends, and Must-Knows!"

Transcript

Unlock the Secrets of Santa Clarita Real Estate with Connor with Honor: Tips, Trends, and Must-Knows!" · Connor with Honor: AI, Real Estate and Real Life

• 0:06
  SPEAKER_00: Hey everybody, it's Connor with Honor.
• 0:08
  SPEAKER_00: Today is going to be April 10th, 2024.
• 0:10
  SPEAKER_00: This is your daily Santa Clarita Cities real estate update.
• 0:14
  SPEAKER_00: I do appreciate you coming back and visiting.
• 0:16
  SPEAKER_00: I'm going to talk about what the latest market trends mean for you.
• 0:20
  SPEAKER_00: And of course, whether you're a first-time buyer looking to invest further, please stay tuned for a breakdown of the dynamic changes across all of Santa Clarita Valley.
• 0:29
  SPEAKER_00: And remember, Connorwithhonor.com.
• 0:32
  SPEAKER_00: I do post up all of these videos that I put together each and every day in different pieces because there are different pieces of these videos that will serve folks as a breakdown so they don't have to watch the entire thing.
• 0:44
  SPEAKER_00: But if you want to finally catch up and see what's happening in real estate, this is really a great place to be.
• 0:49
  SPEAKER_00: So as far as you, if you're thinking about buying your first home in Santa Clarita, I stay tuned.
• 0:54
  SPEAKER_00: Later in this video, I'm going to reveal the five things renters wish they had known before purchasing their home in our community.
• 1:01
  SPEAKER_00: And it's definitely a must-watch if you're considering making the leap from renting to owning.
• 1:07
  SPEAKER_00: So stay tuned for that.
• 1:09
  SPEAKER_00: So as far as market overview goes, I'm going to take a click, a quick glance at the last real estate activities from the past week, covering through Castac, Canyon Country, New Hall Saugus, Stevenson Rancho Valencia.
• 1:24
  SPEAKER_00: Here's what's happening in the market.
• 1:26
  SPEAKER_00: In the coming soon realm, we have 12 properties that are about to hit the market.
• 1:30
  SPEAKER_00: These offer fresh opportunities for prospective buyers.
• 1:34
  SPEAKER_00: We do see these releases consistently throughout the week.
• 1:38
  SPEAKER_00: The heaviest release days, the heaviest release days, as far as real estate goes, that's going to be, of course, sometime between Wednesday, Thursday, and Friday.
• 1:49
  SPEAKER_00: People like to release listings.
• 1:51
  SPEAKER_00: On those days, at least the more savvy real estate agents, because you get a full seven days' run as new, and that's going to incorporate and help out the advertising and marketing campaign, at least at the beginning.
• 2:03
  SPEAKER_00: And realistically, that beginning of a listing, that first glance, that is huge and very important for real estate sellers who do not let any agent talk you out of that first pop onto the market, that first exposure, the first release of your property, it's got to be ready.
• 2:22
  SPEAKER_00: Everything has to be done.
• 2:24
  SPEAKER_00: I'm talking virtual tours, photography, even before that, the depersonalization.
• 2:30
  SPEAKER_00: You got to make this thing pop.
• 2:31
  SPEAKER_00: You got to get ready.
• 2:32
  SPEAKER_00: And when it gets ready to release, especially in a seller's market, you're going to have multiple buyers jumping on that property, but it has to be prepared properly.
• 2:42
  SPEAKER_00: New listings 73 properties have been listed this past week as talking.
• 2:47
  SPEAKER_00: We're going to see probably even more coming through the next couple of days.
• 2:51
  SPEAKER_00: That does show that our market is moving, although buyers wish it was moving a little faster, and sellers wish the interest rate was closer to what they currently have.
• 3:03
  SPEAKER_00: So that's where that is.
• 3:04
  SPEAKER_00: Price changes, 43 listings underwent price adjustments.
• 3:08
  SPEAKER_00: And of course, back on market properties, we have 24 of those that actually fell out of escrow and are now back on the market for sale.
• 3:16
  SPEAKER_00: A lot of people think that usually is a fault of the home seller condition of the home, something related to the real estate being purchased, or potentially maybe a buyer, they changed their mind.
• 3:30
  SPEAKER_00: In this particular case, sometimes, and a majority of it, it's a buyer thing.
• 3:36
  SPEAKER_00: Not so much that they don't want the house any longer, but something that happened that makes them unable to proceed with the purchase, not having anything to do with the house itself.
• 3:48
  SPEAKER_00: You don't know.
• 3:49
  SPEAKER_00: But it is a good question to ask.
• 3:51
  SPEAKER_00: What I typically do if we're coming into a property, let's say you and I have been searching for a while, and finally we have a property, we see it, and we get outbid, or somebody writes different terms that might be better for the seller.
• 4:05
  SPEAKER_00: And we just weren't willing to go that far because we understand we want to buy a house, but we don't want to potentially lose things in the purchase of real estate.
• 4:15
  SPEAKER_00: We don't want to give up a lot.
• 4:16
  SPEAKER_00: So anyway, we miss out.
• 4:18
  SPEAKER_00: I do keep in contact with all those properties in which I write offers for my clients on.
• 4:24
  SPEAKER_00: And that being the case, the agent called me and said, Are your buyers still interested?
• 4:30
  SPEAKER_00: And I said, Absolutely.
• 4:31
  SPEAKER_00: Let me talk with them.
• 4:32
  SPEAKER_00: By the way, Mrs.
• 4:34
  SPEAKER_00: Agent, why did the property not make it all the way through?
• 4:38
  SPEAKER_00: What happened?
• 4:39
  SPEAKER_00: Why did it cancel?
• 4:40
  SPEAKER_00: Was it an inspection-related issue?
• 4:42
  SPEAKER_00: Was it maybe something that happened on the seller's side?
• 4:45
  SPEAKER_00: Maybe the buyer asked the seller to repair or fix something, and the seller said, forget it, I'm not going to do it.
• 4:51
  SPEAKER_00: And the buyer either being injured as a result of that emotionally or injured potentially in monetary wise because the seller not fixing it might open up some massive Pandora's box for the buyer, which is going to create a lot of cost because of the unknown factor.
• 5:10
  SPEAKER_00: I don't know what it would have been.
• 5:12
  SPEAKER_00: But in that particular case, asking it had nothing to do with the house.
• 5:16
  SPEAKER_00: Actually, it was a buyer issue, but at least now I know.
• 5:19
  SPEAKER_00: And in addition to that, this is what I do for my clients.
• 5:22
  SPEAKER_00: Those buyers, I try to see if there's a home inspection report that was completed.
• 5:27
  SPEAKER_00: What were all those inspections that that buyer did?
• 5:30
  SPEAKER_00: And to get copies of those, which in actuality is your right because now it's known information.
• 5:39
  SPEAKER_00: And because of that, it has to be offered.
• 5:41
  SPEAKER_00: It's part of that whole disclosure thing.
• 5:44
  SPEAKER_00: So getting that for the buyer is also beneficial.
• 5:47
  SPEAKER_00: At least that gives us a preview of what we might expect.
• 5:50
  SPEAKER_00: The same thing I talked to my real estate sellers about having that pre-sale home inspection, it's huge and very valuable because now you know what you're up against.
• 6:01
  SPEAKER_00: You can get all this stuff done, or at least you can allow for it in the offering price or further negotiation down the line.
• 6:08
  SPEAKER_00: And 24 properties came back on the market, as I said, much more this week.
• 6:12
  SPEAKER_00: The market trends, we have 50 properties that went pending, 64, uh 64 that actually closed in the last seven days.
• 6:21
  SPEAKER_00: So we do see how our real estate market is also remaining active and very competitive.
• 6:27
  SPEAKER_00: Now, what does this mean for you?
• 6:28
  SPEAKER_00: Whether you're selling or buying or investing, timing and strategy are very much key components, things that your agent should be advising you about.
• 6:39
  SPEAKER_00: All right, here's the here's the best part of the show.
• 6:42
  SPEAKER_00: The five things renters wish they knew.
• 6:44
  SPEAKER_00: This is something that really is very close to heart because I've seen these conversations online.
• 6:52
  SPEAKER_00: I've seen them in the forums and on Facebook and Instagram.
• 6:55
  SPEAKER_00: It's really a painful process when somebody goes from finally making the leap to renting, to home, to ownership, to actually owning real estate, but they didn't expect some of these things.
• 7:07
  SPEAKER_00: So these are five things renters wish they knew before purchasing real estate.
• 7:12
  SPEAKER_00: They wish they would have known the total cost of homeownership.
• 7:15
  SPEAKER_00: And I harp on this.
• 7:16
  SPEAKER_00: My upcoming book will have it.
• 7:18
  SPEAKER_00: Also, the online systems have it.
• 7:20
  SPEAKER_00: This is beyond mortgage expenses like property tax, insurance, and maintenance.
• 7:25
  SPEAKER_00: All of these things can add up.
• 7:27
  SPEAKER_00: Sometimes buyers, they're very excited to buy, so they see the house.
• 7:31
  SPEAKER_00: They have been pre-approved for$800,000, and they're very comfortable, let's say, at spending$800,000.
• 7:39
  SPEAKER_00: They find the house, but then they didn't factor in the other cost.
• 7:46
  SPEAKER_00: Homeowners, different, maybe different kinds of maintenance with the property, maybe extra Melaruse taxes, other things that are related to the purchase of the property, they didn't think about it.
• 7:59
  SPEAKER_00: Number two, the importance of a good inspection.
• 8:01
  SPEAKER_00: This is something that some of the people that bought which they would have paid more attention to or paid it more credence.
• 8:09
  SPEAKER_00: Good home inspector, very important when you're purchasing real estate, saving you thousands of dollars because they identify the problem.
• 8:17
  SPEAKER_00: And if what they identify is above their pay grade, a good home inspector will say, Hey, Jack, you need to hire somebody that does this because they know it better.
• 8:27
  SPEAKER_00: For example, a foundational issue that might have been uncovered by the home inspector, you're going to want a foundation expert to come out and check it out.
• 8:36
  SPEAKER_00: All right, so that's good.
• 8:37
  SPEAKER_00: Market timing number three, understanding when purchasing and to buy can affect both price and selection.
• 8:44
  SPEAKER_00: So the market timing is something they would have paid more attention to.
• 8:48
  SPEAKER_00: Number four, long-term planning, how the community's development plans might influence properties values.
• 8:54
  SPEAKER_00: That's going to be a locational purchase.
• 8:56
  SPEAKER_00: But again, if you are purchasing real estate, going from basically renting to owning, this is something that you are going to want to consider.
• 9:04
  SPEAKER_00: What are the changes that are going to be happening in the area?
• 9:07
  SPEAKER_00: And especially if you're buying in an area that has been as a result of time just underdeveloped.
• 9:14
  SPEAKER_00: And now, because things seem to be on the getting better in the world, right?
• 9:18
  SPEAKER_00: As far as the economy goes, people are starting to build and invest in uh commercial properties.
• 9:24
  SPEAKER_00: Well, we see those changing.
• 9:26
  SPEAKER_00: Good questions.
• 9:27
  SPEAKER_00: Number five, of course, and final, local resources and utilities.
• 9:31
  SPEAKER_00: Knowing those specifics about the local areas and utilities, there's so much going on out here in Santa Clarita.
• 9:38
  SPEAKER_00: Knowing what is happening before purchasing, just to make sure it's a good fit, that's important to investigate as well.
• 9:44
  SPEAKER_00: Those are the five things that renters wish they would have known before moving to Santa Clarita and actually buying a residence here.
• 9:51
  SPEAKER_00: And I hope it serves you well.
• 9:53
  SPEAKER_00: Now, basically, what I can tell you is this.
• 9:56
  SPEAKER_00: As always, my goal is to keep you informed and ahead of the curve in the Santa Clarita real estate market.
• 10:02
  SPEAKER_00: Remember, whether you're buying or selling knowledge is your greatest asset.
• 10:07
  SPEAKER_00: For more detailed information and personal advice, visit my website, Connorwithhonor.com.
• 10:12
  SPEAKER_00: I do thank you for watching.
• 10:13
  SPEAKER_00: I'll see you soon.
• 10:15
  SPEAKER_00: And, well, remember, over and out.