Latest / Connor with Honor: AI, Real Estate and Real Life / Finally, over 500 residential real estate listings for sale in the Santa Clarita Valley Cities - but that is not going to change much of anything
Transcript
- 0:00hello Santa Clarita I hope everybody is fantastic finally we have arrived we have over 500 active residential units on the market for sale in all of the Santa Clarita Valley cities and you would think there would have been some kind of a massive Celebration but again it really isn't changing much even though we haven't seen these numbers for better than two years active residential units for sale is going to mean what is currently on the market as being offered for sale it's gonna include single family residences condominiums and town homes all total in all of the Santa Clarita Valley cities Castaic Canyon Country Newhall Saugus Stevenson Ranch Valencia and of course Acton and Agua Dulce they are still part of Santa Clarita Valley but not included in these particular numbers today you can see everything at WWW Santa Clarita openhouses com what I did yesterday is I started another video series on the 1 0 1 buyer somebody that's brand new into the buying process talking about the first three tenants of buying residential real estate which is probably the most important preparatory steps that a real estate buyer can take so I did organize those I have them in a single video on my YouTube channel and please check that out I think it's going to be incredibly beneficial because I approach it with my knowledge as if I was a first time buyer putting into it the things that I find that my buyers find themselves becoming more susceptible to with regard to people there that are trying to take advantage of people that might not have the ability to protect themselves or at least the knowledge know they're they're about to be taken and usually in that process especially in the real estate world it's a little too late to fix it after well after something closes it it becomes really complicated so I put that into that particular video the other thing that you're gonna see coming up this next month so as we're in August there's gonna be big changes within real estate real estate contracts gonna affect sellers out there in a way where it's in the past it was pretty much established that the real estate seller had an option to pay their agent whatever they can negotiate usually it was also offered that they were going to pay another agent to represent a buyer so it was gonna be included now that other part the part where a can pay the buyers agent is excluded there is not that offering within public view that is going to be handled between the agents and the seller if a buyers agent brings a qualified buyer to a residence with that's listed the properties listed with a seller and the seller's agent that agents then gonna pick up the phone and make a phone call and say listen my client would like to buy your seller's house or at least view it is your seller offering a buyer's commission and their buyer's agents commission at that point they they'll talk about it they'll work it out figure something out if in fact it's even possible for that buyer to purchase that house if the seller doesn't pay for that part of the commission process you would say why doesn't the buyer pay well that's definitely where the world is that's what's gonna happen in August if a seller doesn't wanna pay now it's gonna be crystal clear they don't have to and there doesn't have to be an offering of a commission to a buyer's agent therefore if the buyer wants to use an agent to purchase the residence then it's going to be up to them to negotiate that commission with the agent that they're going to select when you're going to now be paying for a particular service although before even though it part of your cost as a buyer you were hiring the agent to represent you now the world of value is going to come into play a lot more it's not going to be common practice for the agent representing the seller to not be representing the buyer wow that really wasn't a big part of the market anyway that's something known as dual agency and if you've ever purchased a house in Southern California with regard to dual agency there is a big disclosure that has a lot of civil codes on it explaining the entire process of dual agency and breaking it down basically it's when you as a real estate buyer go to the same agent that the real estate seller is using and purchase that same residence and that's the agent that you're going to select instead of having your own agent on your own side you hire the sellers agent to represent you and at that time there was again that fee for you as a buyer wasn't part of it then now it will be as we come up here and get through August now we're at the 9th where it Friday will be back over the weekend this 505 active units on the market for sale it's not going to change anything currently the big change that's on the horizon for Santa Clarita Real Estate would be a lowering of interest rates into the low fives or high fours if that happens you're gonna see this market kick off in a couple of ways I believe that could be an opening for a lot more listings coming on to the market but stand by I don't believe a lot more listings is going to be enough at that time to satisfy the high buyer drive that will come into play if in fact the Fed does lower rates coming up here this month or September of 2024 I'm Connor Macgyver Connor with honor thank you so much for watching and we'll see you tomorrow on the next one over and out