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Santa Clarita Real Estate Market Booms: Discover the 373 Hottest Listings Now! · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: May 19th, 2024.
• 0:01
  SPEAKER_00: I'm Connor with Honor.
• 0:02
  SPEAKER_00: Thank you so much for watching Santa Clarita Real Estate Update.
• 0:06
  SPEAKER_00: So today we have 373 total active listings on the Santa Clarita market for sale.
• 0:13
  SPEAKER_00: That's going to include all the cities: Castayc, Kenyon, Country, New Hall Sauce, Stevenson Ranch, and Valencia.
• 0:18
  SPEAKER_00: And for Sundays, more than likely you're going to encounter some open houses out there.
• 0:22
  SPEAKER_00: Be wary.
• 0:23
  SPEAKER_00: I wouldn't put my name down on anything, sign anything.
• 0:26
  SPEAKER_00: And especially if you're represented by an agent, let them know that you're going so they can give you the right words to say to the person that's in the open house.
• 0:36
  SPEAKER_00: And believe it or not, it's not actually the case that always the listing agent is the one at the open house.
• 0:42
  SPEAKER_00: A majority of the time, it's not even the listing agent, it's someone else that wants to do an open house.
• 0:48
  SPEAKER_00: So there's that.
• 0:49
  SPEAKER_00: Watch out for that.
• 0:49
  SPEAKER_00: The information you get from there as well probably isn't super accurate, but again, that's going to depend on the listing and who's in there.
• 0:56
  SPEAKER_00: And it's not that they're probably going to intend to not be accurate.
• 1:00
  SPEAKER_00: They might not know.
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  SPEAKER_00: We were in an open house yesterday speaking with the agents that were there, not the listing agents.
• 1:08
  SPEAKER_00: Of course, I know because I'm an agent, right?
• 1:10
  SPEAKER_00: So they're not the listing agent.
• 1:12
  SPEAKER_00: I asked how many offers.
• 1:14
  SPEAKER_00: They said they have had a couple offers received when I wanted more information about what types of offers, the financing maybe, and the types of restrictions they might have included in the offer to be more appealing to the seller.
• 1:26
  SPEAKER_00: I didn't get any substantial answers, nor did they really know what was happening.
• 1:31
  SPEAKER_00: That is also case in point for you that might be hiring someone that has a mega real estate team.
• 1:38
  SPEAKER_00: That's fantastic, good for them, and I hope their success continues till the end of time.
• 1:43
  SPEAKER_00: But for a client, having multiple points of contact isn't always best in real estate.
• 1:48
  SPEAKER_00: And in fact, when you're talking about such a high dollar amount, I believe that one-on-one contact, that one-on-one service is incredibly important, having that super educated, knowledgeable, and expert advisor on your side when it comes to purchasing real estate.
• 2:03
  SPEAKER_00: Let's move back to what's happening.
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  SPEAKER_00: Currently, breaking down that 373, as far as the active listings go, we have 99 condos on the market for sale.
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  SPEAKER_00: A condominium is going to be a basically a box type apartment, if you will.
• 2:16
  SPEAKER_00: A single level.
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  SPEAKER_00: Typically, you're going to be sharing maybe ceiling.
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  SPEAKER_00: There could be somebody living above you, could be somebody living below, somebody to the left, to the right, maybe to the rear.
• 2:25
  SPEAKER_00: Just depends on the configuration, but that's typically condos.
• 2:29
  SPEAKER_00: Usually there is no direct access garage, not to be confused with a particular type of property classification in Santa Clarita, and you might run into it called a detached condominium.
• 2:42
  SPEAKER_00: Usually you're going to have a neighbor's wall in your yard, but a detached condo in Santa Clarita is going to look a lot like, well, a single family residence.
• 2:52
  SPEAKER_00: It's going to be separate, not going to be attached to the neighbor, so it's not an attached single family residence.
• 2:57
  SPEAKER_00: But the classification was as a detached condo because the land is not much bigger than the footprint of the residence.
• 3:06
  SPEAKER_00: So you'll know these when you see them.
• 3:08
  SPEAKER_00: And again, when an appraiser comes in and looks at it, the valuation is given weight of a single family residence, very much so, not a condominium, which is the box located in a larger building.
• 3:20
  SPEAKER_00: So detached condo is definitely a whole different animal.
• 3:23
  SPEAKER_00: If you want to see those or any others, please let me know.
• 3:25
  SPEAKER_00: 37 townhomes on the market for sale.
• 3:28
  SPEAKER_00: Yes, these usually have direct access garages and usually multiple storying configuration.
• 3:34
  SPEAKER_00: More than likely, they could be standalone or you could have a wall shared with someone.
• 3:39
  SPEAKER_00: It's important, condominium townhome, even single family residents, you as a real estate buyer, make sure you do your due diligence and go visit the neighbors.
• 3:49
  SPEAKER_00: Find out what's happening, and you want to do that very soon in the process of escrow before it gets too deep.
• 3:55
  SPEAKER_00: If you go too deep into escrow, you're going to run into issues where it's going to be too late for you to maybe make better decisions or to even cancel the transaction if you, in fact, find something that you are unable to live with and is unable to be remedied by money or allowances or credits or help from a home seller, you're basically finished and want to get out of the transaction.
• 4:18
  SPEAKER_00: When you are going to jump ship, if in fact that happens to you, and we do have numbers showing that this happened with several properties.
• 4:26
  SPEAKER_00: I'll give you this as well.
• 4:28
  SPEAKER_00: We had currently, let me just pull these numbers real quick.
• 4:33
  SPEAKER_00: So when I did the numbers this morning, I usually get everything.
• 4:37
  SPEAKER_00: We're going to pull them just two seconds.
• 4:39
  SPEAKER_00: Alright, so the back on market properties, that's 21.
• 4:42
  SPEAKER_00: So 21 properties actually had their escrow's canceled, have gone back on the market.
• 4:46
  SPEAKER_00: That's something to watch out for.
• 4:48
  SPEAKER_00: If you are a buyer in this market, make sure your agent is keeping their eyeballs on the canceled properties, too.
• 4:55
  SPEAKER_00: Also, the expired, there's three of those.
• 4:57
  SPEAKER_00: They might be super negotiable now.
• 5:00
  SPEAKER_00: Seven properties canceled.
• 5:02
  SPEAKER_00: There might be more to those than meets the eye.
• 5:04
  SPEAKER_00: It's going to depend.
• 5:04
  SPEAKER_00: Maybe they had a falling out with their agent.
• 5:07
  SPEAKER_00: Sad.
• 5:08
  SPEAKER_00: So sad.
• 5:09
  SPEAKER_00: 12 properties have been put on hold, of course.
• 5:11
  SPEAKER_00: Four properties have been withdrawn from the market.
• 5:14
  SPEAKER_00: The hold properties, not unusual.
• 5:16
  SPEAKER_00: Agents aren't supposed to be using hold in order to try to work on all the offers that they've received.
• 5:23
  SPEAKER_00: However, that could be the case in some of these.
• 5:26
  SPEAKER_00: Again, properties on hold don't mean they're gone, but they're not going to appear online in some of the syndication sites.
• 5:32
  SPEAKER_00: To be able to make sure that you're seeing the correct real estate data, it's very important that you subscribe or have access through a multiple listing service channel.
• 5:41
  SPEAKER_00: Usually that best channel is going to be through a real estate agent.
• 5:45
  SPEAKER_00: So thank you for that.
• 5:46
  SPEAKER_00: So please let me know, Connor with Honor.com, you'll be able to do the search and see all that information there and as far as what's happening in Santa Crita Valley.
• 5:55
  SPEAKER_00: So out of that 363 activist, we have 237 single-family residences.
• 6:01
  SPEAKER_00: I talked about 37 of those are townhomes.
• 6:04
  SPEAKER_00: On the pricing front, we're seeing some interesting trends.
• 6:06
  SPEAKER_00: We are watching as properties are readjusting their prices.
• 6:10
  SPEAKER_00: We've had 56 of those adjustments in the last seven days.
• 6:14
  SPEAKER_00: You would think that potentially these adjustments are going to be increased, increases in this market.
• 6:20
  SPEAKER_00: It's not the case.
• 6:21
  SPEAKER_00: A majority of those are decreases, and then you have a few of the snafu's out there where somebody started entering the information, published the information, and then realized that they had a couple numbers transposed.
• 6:33
  SPEAKER_00: And when they fix the error in the price, it looks like a price increase, not a decrease, because they had some numbers transposed, lower number at the beginning publish, higher number is what was needed.
• 6:45
  SPEAKER_00: And again, when they go to that higher number and change it, there's no way around it.
• 6:49
  SPEAKER_00: It looks as if this property had a price increase.
• 6:52
  SPEAKER_00: Look at the numbers.
• 6:53
  SPEAKER_00: Don't concern yourself about how big the discounts are or how high the price is.
• 6:58
  SPEAKER_00: At the end of the day, you as a real estate buyer, all you need to do is find out those past sold properties that are very much the same as the subject property.
• 7:08
  SPEAKER_00: And if they're not the same, as long as they're in there, as long as they are in close proximity to the listing, you will be able to do those particular additions and subtractions.
• 7:19
  SPEAKER_00: Find a house with a pool in the neighborhood, look at a few others, see what that price difference is between ones with and without.
• 7:26
  SPEAKER_00: Same thing with bedrooms.
• 7:27
  SPEAKER_00: Some have three, some have four.
• 7:28
  SPEAKER_00: Look at the three, see what that sales price is, and see what the fours are.
• 7:32
  SPEAKER_00: If they align in all other aspects of that real estate property as far as improvements go, then it's easy to just do the calculation and say, all right, for a four-bedroom, it should be valued about this.
• 7:43
  SPEAKER_00: Three-bedroom valued about this.
• 7:45
  SPEAKER_00: Now, when you're going in looking at property, when you're looking at them, I look at three things.
• 7:50
  SPEAKER_00: I like to look at the roof, I like to look at the plumbing, I like to look at the electrical.
• 7:54
  SPEAKER_00: These are big.
• 7:55
  SPEAKER_00: You know, cosmetic stuff, paint, walls, carpet, flooring.
• 7:59
  SPEAKER_00: Everybody's gonna do it.
• 8:00
  SPEAKER_00: Bathroom, kitchen.
• 8:01
  SPEAKER_00: Yeah, it's it's gonna be something that you'll attend to over time, unless you're one of those folks that's got the bag of money or really, really want to move into a turnkey house and you're looking at stuff that isn't, you're gonna do that before you move in.
• 8:13
  SPEAKER_00: I get that.
• 8:14
  SPEAKER_00: I have several clients that are that way as well.
• 8:16
  SPEAKER_00: Whatever your aspect or your position is on real estate, my suggestion to you is just make sure that you're getting those values and finding out where you need to be in the offering mechanism, and also listen to your advisor and see what they're telling you with regard to that.
• 8:32
  SPEAKER_00: All right, as we finish out uh this particular real estate update, we had 56 properties that finished in the past seven days in Santa Clarita Valley.
• 8:40
  SPEAKER_00: And then also, like I talked about, three expired, seven canceled, twelve on hold, full, four withdrawn, pulled off the market totally.
• 8:47
  SPEAKER_00: That's your Santa Clarita update.
• 8:49
  SPEAKER_00: I am Connor with Honor.
• 8:50
  SPEAKER_00: When you're ready, reach out.
• 8:51
  SPEAKER_00: I hope everybody is well and I bid you good day.
• 8:54
  SPEAKER_00: I'm Connor with Honor, over and out.