Latest / Connor with Honor: AI, Real Estate and Real Life / Real Estate update for Santa Clarita by the Santa Clarita open houses agent Connor with Honor

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Real Estate update for Santa Clarita by the Santa Clarita open houses agent Connor with Honor · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: August 30th, 2024.
• 0:02
  SPEAKER_00: Good day, everybody.
• 0:03
  SPEAKER_00: I wanted to share with you the real estate broadcast that I put together today regarding local inventory and a couple tips for sellers and buyers out there.
• 0:11
  SPEAKER_00: So we'll get into the show in just a moment.
• 0:13
  SPEAKER_00: Prior to that, people often ask where they can find real estate listings.
• 0:18
  SPEAKER_00: And I know there's a ton of real estate syndication websites out there, places where people can go and look at real estate listings.
• 0:26
  SPEAKER_00: The only problem among other things happens to be that these systems monetize and make their money by selling their your personal and private information.
• 0:35
  SPEAKER_00: If you want to see something and you want to find those listings unlocked, no registration required, you don't ever have to give up who you are, Santa Clarita Openhouses.com forward slash Santa Clita Openhouses.com.
• 0:49
  SPEAKER_00: That's that.
• 0:49
  SPEAKER_00: So you can go there and you'll be able to see every single real estate listing, search for everything, and besides the open houses, you'll be able to look into the sold data and find out what properties have sold in the recent past.
• 1:02
  SPEAKER_00: You'll be able to do all of this without having to worry about downloading an app or trying to find some other system online, or maybe another system only gives you five or six times to look at real estate before it forces you to register.
• 1:16
  SPEAKER_00: There's nothing like that at Santa ClaritaOpenhouses.com.
• 1:19
  SPEAKER_00: Just go there and search Ad Nauseum.
• 1:22
  SPEAKER_00: You can punch in city names, and this is going to re be reflective of all of Southern California.
• 1:26
  SPEAKER_00: Here's today's show.
• 1:27
  SPEAKER_00: Thank you so much for watching, and we'll see you tomorrow.
• 1:30
  SPEAKER_00: Be well.
• 1:30
  SPEAKER_00: Enjoy the show.
• 1:31
  SPEAKER_00: Good morning, everybody.
• 1:32
  SPEAKER_00: This is your Santa Clarita update.
• 1:34
  SPEAKER_00: I've been monitoring the inventory well every day since 1998, because that's when I first started in the business.
• 1:40
  SPEAKER_00: Today we have 509 active units on the market for sale.
• 1:44
  SPEAKER_00: This is going to run single-family residences, condominiums, townhomes, all across the Santa Clarita Valley.
• 1:50
  SPEAKER_00: The thing that you need to know today if you are contemplating selling is that that process has somewhat been changed from where it's been in the past.
• 1:59
  SPEAKER_00: In the past, usually the seller was also very keen on picking up the buyer's agent's fee.
• 2:06
  SPEAKER_00: So you hired somebody to represent you as a seller in selling your house, doing the advertising, marketing, negotiation, you know, protecting you from all the landmines out there with regard to real estate and selling such.
• 2:19
  SPEAKER_00: And then from there, that particular individual stayed on your side while another party brought a buyer.
• 2:26
  SPEAKER_00: Sometimes the agent that you hired also has a buyer, but that is a slippery slope for some people because of the dual agency concept that would be involved.
• 2:37
  SPEAKER_00: Meaning that your agent that you hired is also representing you on the sale of your house.
• 2:42
  SPEAKER_00: Why wouldn't that be a good thing?
• 2:44
  SPEAKER_00: It might be a great thing.
• 2:46
  SPEAKER_00: In some cases, it might not be.
• 2:47
  SPEAKER_00: It's going to depend on the individual that's doing dual representation and how completely transparent they should be versus what they really are.
• 2:58
  SPEAKER_00: Watching the way that they operate is important, but the way that it usually works is that particular agent that you've hired to represent you as a seller, they know your bottom line.
• 3:10
  SPEAKER_00: They know exactly what you will take for your home.
• 3:14
  SPEAKER_00: So let's say they list it at$900,000, and during the listing process, during the advertising and marketing process, they discover a buyer.
• 3:24
  SPEAKER_00: And you have it priced at$949, but they know you'll take$900,000.
• 3:28
  SPEAKER_00: So that's the scenario.
• 3:30
  SPEAKER_00: Then the buyer coming through you, that particular agent, I should say, then they want to write the offer at$900,000.
• 3:39
  SPEAKER_00: Now you know that the seller knows that.
• 3:41
  SPEAKER_00: You write the offer, the seller's going to think that you sold them out.
• 3:45
  SPEAKER_00: And that seems to be the case.
• 3:47
  SPEAKER_00: It always usually ends up to be that amount, and it seems to match exactly what that off-record or behind the closed doors conversation was with the real estate seller.
• 3:58
  SPEAKER_00: If you're going to hire somebody to represent you, do that.
• 4:02
  SPEAKER_00: And if you're going to pay somebody else to represent the buyer in the transaction, then do that as well.
• 4:08
  SPEAKER_00: But look at the numbers and see what sense it makes.
• 4:11
  SPEAKER_00: Maybe, just maybe, when you put your house on the market, it's going to be in such a manner and in such a place, which is with such a high buyer drive, that you're going to get multiple offers very quickly.
• 4:23
  SPEAKER_00: It could also be that those multiple offers contain buyers that are willing to purchase your property and pay their agent to represent them.
• 4:31
  SPEAKER_00: That would be a perfect world scenario, but then you can have your agent on your side 100%, and then the buyer would have their agent on their side 100%.
• 4:41
  SPEAKER_00: Definitely food for thought.
• 4:43
  SPEAKER_00: You as real estate buyers, that'll bring me around to where you happen to be with the 500 active, 509 active listings for sale.
• 4:52
  SPEAKER_00: It's in Santa Clarita Valley, that's not super exciting news because that trend would need to at least double or maybe triple to change the market from where it is with a high buyer drive being a seller's market into a buyer's market.
• 5:06
  SPEAKER_00: That does not mean you should not move forward.
• 5:09
  SPEAKER_00: Right now, interest rates are teetering and lowering ever so slowly once we get into September here in the next couple days, because we're just about finished with August, we'll find out what's going to indeed happen to the overall rate and then how the banks are going to adjust that mortgage rate accordingly for the people out there wanting to buy residential real estate.
• 5:32
  SPEAKER_00: The thing is, if that rate happens to come down considerably, considerably somewhere in the fours, that more than likely is going to move this market a lot faster and properties are going to increase in expense and in price very, very shortly.
• 5:48
  SPEAKER_00: They will get more expensive very quickly because the higher buyer drive at that point will then make sellers able, they'll make the seller to adjust those particular listing prices even higher, and buyers will then start to remove some of their rights.
• 6:04
  SPEAKER_00: They'll start to give up rights in order to compete with other buyers.
• 6:08
  SPEAKER_00: This happened in the last market, and it will happen in any fast-paced buyer's market where there's a high level of competition.
• 6:15
  SPEAKER_00: People, well, people say they don't like to compete, but it seems to be that competition is a little healthy, at least when it comes to sports.
• 6:25
  SPEAKER_00: And in real estate, I know that I've talked to a lot of sellers, a lot of buyers don't want to play the game, but once we start getting involved in it, it becomes quite it seems to be somewhat enjoyable, depending on who's involved.
• 6:38
  SPEAKER_00: Having said that, just make sure that if you're going to embark on this journey and you're going to wait till interest rates drop instead of maybe refinancing in the future after they drop.
• 6:49
  SPEAKER_00: And they're all costs associated with all of these things.
• 6:52
  SPEAKER_00: So for somebody to say, all you have to do is wait for the refi, well, maybe the refi is going to cost you too much.
• 6:58
  SPEAKER_00: Even if you're at the beginning of a loan, you're still paying for it.
• 7:02
  SPEAKER_00: So you have to look at all of those numbers.
• 7:04
  SPEAKER_00: But to buy because of a being dependent on a future refi, probably not a good idea.
• 7:09
  SPEAKER_00: But if you are buying, understanding that your mortgage and interest rate are good today, you'll probably have less competition today as a real estate buyer than if you were to attempt to buy if and when interest rates do drop into the fours or low fives.
• 7:24
  SPEAKER_00: I'm Connor McIver.
• 7:26
  SPEAKER_00: Thank you so much for watching.
• 7:27
  SPEAKER_00: This has been your update.
• 7:28
  SPEAKER_00: We are at Friday.
• 7:30
  SPEAKER_00: We will be back tomorrow, of course, with a Saturday broadcast.
• 7:33
  SPEAKER_00: When you're ready, reach out.
• 7:36
  SPEAKER_00: What I did is I put together Santa CritaOpenhouses.com.
• 7:40
  SPEAKER_00: My system, that particular system, is going to contain every single listing.
• 7:44
  SPEAKER_00: It's unlocked, and you'll be able to go and view everything that happens to be for sale.
• 7:49
  SPEAKER_00: One of the things I will tell you in regards to real estate is to make sure that you are well protected all across the process.
• 7:57
  SPEAKER_00: You understand everything you're writing, and here's something important for a buyer in closing.
• 8:02
  SPEAKER_00: Now buyers, when they look at properties, are being tasked with signing a contract.
• 8:07
  SPEAKER_00: A contract between you and the agent showing you the property.
• 8:12
  SPEAKER_00: You'll have to make a decision at some point how long you want that relationship to continue.
• 8:17
  SPEAKER_00: If you're kind of relationship phobic and don't like it very long, my suggestion would be a single property.
• 8:24
  SPEAKER_00: If that agent is going to be willing to sign a contract for a single property, that's another question, because they don't have to.
• 8:32
  SPEAKER_00: You might find other agents that are more willing.
• 8:34
  SPEAKER_00: In addition, there's a lot of new contracts that I've seen that other agents and brokerages are putting together part of a buyer agreement of sorts.
• 8:44
  SPEAKER_00: So they're deviating from the California Association of Realtors and the National Association of Realtors contracts, and they're creating their own.
• 8:53
  SPEAKER_00: These are all subject to review, and just be careful what you're signing.
• 8:58
  SPEAKER_00: The best way to know for sure would be to attorney up, and we'll have to see where that gets us.
• 9:04
  SPEAKER_00: I do know right now, because of the changes, although they've always kind of been that way, the changes have now implemented more changes.
• 9:14
  SPEAKER_00: So let's just be weary, calm, and before you sign something, bounce it off somebody who you trust.
• 9:21
  SPEAKER_00: I'm Connor with Honor, over and out.
• 9:25
  SPEAKER_00: The off button is always the most difficult to find.