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VA to allow VA buyers to pay their agents - hence the importance of SantaClaritaOpenHouses.com of hiring smart · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: It's June twelfth, twenty twenty-four.
• 0:01
  SPEAKER_00: I'm Connor with Honor.
• 0:02
  SPEAKER_00: Thank you so much for tuning in.
• 0:04
  SPEAKER_00: This is your daily Santa Clarita update.
• 0:06
  SPEAKER_00: This is the second time around for this.
• 0:08
  SPEAKER_00: I apologize.
• 0:09
  SPEAKER_00: It's going to be exciting.
• 0:10
  SPEAKER_00: 365 total active units on the market for sale.
• 0:14
  SPEAKER_00: That's all of Santa Clarita Valley Cities.
• 0:16
  SPEAKER_00: That's going to be the cities of Castac, Kenyon Country, New Hall, Saugus, Stevenson Ranch, and Valencia.
• 0:22
  SPEAKER_00: Let me break away into a little bit of a transcript here so I can have the numbers exactly correct.
• 0:27
  SPEAKER_00: So currently we have 10 coming soon listings that have been posted in the past seven days.
• 0:32
  SPEAKER_00: 93 new listings have entered the market.
• 0:34
  SPEAKER_00: Yesterday, the seven-day recap gave us over 100 listings added to the real estate market.
• 0:40
  SPEAKER_00: Schools out, folks, people are moving a little quicker, and sellers are starting to put their properties on the market.
• 0:46
  SPEAKER_00: Suggestion if you are frequenting open houses, you got to get to Santa Clarita Openhouses.com and look at that data and see what's going on there.
• 0:55
  SPEAKER_00: But you'll be able to find every single open house that's my site, so don't panic.
• 1:00
  SPEAKER_00: If at some point you give up your personal information, understand that I'm the one that's going to see it.
• 1:05
  SPEAKER_00: It's not being sold, it's not being given to anybody.
• 1:08
  SPEAKER_00: The syndication websites happen to do that because agents are paying them for leads and for information.
• 1:14
  SPEAKER_00: I put Santa ClaritaOpenhouses.com as a safe space, understanding that people sometimes want to search with all the anonymity they possibly can.
• 1:23
  SPEAKER_00: Back into the real estate listings, as far as price changes, 55.
• 1:27
  SPEAKER_00: A majority of those are reductions in listing price.
• 1:30
  SPEAKER_00: Back on market properties 21.
• 1:32
  SPEAKER_00: 26 properties have gone active under contract.
• 1:35
  SPEAKER_00: 55 properties in the Santa Cruz Valley have gone deeper into escron pending status.
• 1:39
  SPEAKER_00: And of course, we have 69 that have closed this past seven days, which is phenomenal, right?
• 1:45
  SPEAKER_00: And then we have four expired 10 canceled, 20 have been put on hold, and two have withdrawn.
• 1:51
  SPEAKER_00: In the real estate market, the data is important.
• 1:54
  SPEAKER_00: Looking at the real estate data is something that gives the buyers and the sellers out there a definite edge in real estate, not going in blind to the system, but actually knowing what to look for in the current market.
• 2:06
  SPEAKER_00: Currently, as we see it, we do have inventory increasing, but that isn't changing the days on market time frames for the most part, all across the board in Santa Cruz Valley, meaning properties are still moving very quickly with that high buyer drive, even with the additional inventory.
• 2:22
  SPEAKER_00: In fact, I would opine that over the next several months, we are going to continue to have inventory added, but that inventory is going to be reduced in the fact or in the way because we have multiple buyers out there for most properties that are listed for sale.
• 2:37
  SPEAKER_00: But again, it's going to depend on price range.
• 2:39
  SPEAKER_00: That sweet spot out here is between about$700 and about$900,000 for single family residences all across Santa Clarita Valley.
• 2:48
  SPEAKER_00: If you're a buyer in that space, in that pre-approval space for$700 to$900 for single family, your competition is going to be high.
• 2:58
  SPEAKER_00: But if you're going in with an expert, you should be just fine.
• 3:01
  SPEAKER_00: But it is important for you to team up with one of those.
• 3:04
  SPEAKER_00: There are several changes in the real estate realm regarding commission.
• 3:08
  SPEAKER_00: Right now, as it is and has it has been somewhat historically, we do have sellers that have been paying both agents.
• 3:16
  SPEAKER_00: The agent that they hired to represent them, the listing agent, and then also they are offering a commission to the buyer's agent.
• 3:23
  SPEAKER_00: The agent that you're selecting as a real estate buyer.
• 3:26
  SPEAKER_00: Now that has gone away, where the commissions typically in the future will not be paid by the sales, the sales side or the listing or the seller for buyers.
• 3:38
  SPEAKER_00: Buyers are going to have to come up with their own buyer's fee.
• 3:41
  SPEAKER_00: And in conjunction with that, the veterans administration, because that was the one loan program out there that wouldn't allow for the buyer in that regard, a veterans administration borrower, an actual veteran, to pay an agent that represents them as a buyer agent.
• 3:58
  SPEAKER_00: It was always expected to be paid by the home seller because of the changes in the legal realm.
• 4:04
  SPEAKER_00: And regarding commissions, now the Veterans Administration has put a temporary hold on that rule, allowing veterans to extend payment to the agent they select as their real estate representative on the buyer side.
• 4:18
  SPEAKER_00: So that's something to know so we can see as the market continues to change.
• 4:22
  SPEAKER_00: We will have different newer developments in regard to this particular news.
• 4:27
  SPEAKER_00: But as it will be, potentially, it's going to be the seller has their closing costs, the agent they hire to sell the house, to market advertise it, like at Santa ClitoOpenhouses.com.
• 4:39
  SPEAKER_00: That's where the seller is paying that side.
• 4:41
  SPEAKER_00: Now they are also paying their part of escrow and their part of title insurance.
• 4:46
  SPEAKER_00: A buyer in the future is going to be paying their own agent plus their lender plus their part of escrow and their part of title insurance.
• 4:54
  SPEAKER_00: The agent's fee, whatever that agent is charging them, what does that look like?
• 4:58
  SPEAKER_00: It could be 3% or 2% or less.
• 5:02
  SPEAKER_00: It's going to depend.
• 5:03
  SPEAKER_00: To stay in line with the current traditions in the market, the charge would typically be somewhere between 2.5% and 3%.
• 5:10
  SPEAKER_00: But again, all of that is negotiable, and you have to make sure in the agent you're selecting to represent you as a buyer, you do see the value that they offer, and they're giving you something, not just standing there with their hands in their pockets trying to tell you how they might have done it at one time.
• 5:27
  SPEAKER_00: But it is important that they give you stories and accolades and try to help you, not accolades, but stories about past experiences that are going to help you make better decisions through education and of course their knowledge.
• 5:40
  SPEAKER_00: I'm Connor with Honor.
• 5:41
  SPEAKER_00: When you're ready, reach out to me.
• 5:43
  SPEAKER_00: Thank you so much for watching today's Santa Clarita Real Estate Update.
• 5:46
  SPEAKER_00: And remember, Santa ClaritaOpenhouses.com.
• 5:49
  SPEAKER_00: It's going to have everything there.
• 5:51
  SPEAKER_00: In addition, that's a locally owned site.
• 5:53
  SPEAKER_00: That's mine, yours truly.
• 5:55
  SPEAKER_00: So your personal information will always be protected, not sold or given away in any way, shape, or form.
• 6:00
  SPEAKER_00: Be well, everybody.
• 6:01
  SPEAKER_00: Thank you for watching today's real estate update.
• 6:04
  SPEAKER_00: I'm Connor with Honor.
• 6:05
  SPEAKER_00: Over and out.