Latest / Connor with Honor: AI, Real Estate and Real Life / Fed rate reduction and the immediate impact on real estate inventory
Transcript
- 0:00how's your real estate doing I'm Connor with honor we're gonna talk about Santa Clarita real estate what's happening today today is gonna be September 11th moment of solitude please for those that gave their lives in September 11th just a horrific time I do know that a lot of the local schools are having first responders go and that's actually fantastic I myself was with the LAPD for a long time honorably retired so I understand that there was a lot of people that definitely need to be honored that gave and put their life above everyone else put themselves into jeopardy so other people could live and we see that as a trademark of the American and it's very very nice to see so please let that resonate with you give a moment and let's very much celebrate the freedom that we have because of the sacrifice that people have made Santa Clarita Valley 521 total active residential properties across the Santa Cruta Valley for sale currently that is gonna include the single family homes condominiums and town homes breaking that down into market action within the past seven days I do a daily recap at every seven days is really where the information is gleaned from in some cases I can see some pretty solid trend changes within that time period but most times like right now we're currently in a bit of a market shift where we're watching as we have a lot of price reductions taking place the price price changes but most of those are price reductions that being the case there's some concern with sellers that there may be overzealous with the original price in addition we're watching a market slow down so that's also causing the sellers to maybe in some cases overreact and start to reduce their price however I say overreact with not knowing their specific circumstance and why they are selling there are some sellers out there that really have to sell they can't wait for that best offer and time is definitely of the essence for real estate buyer that's really who you would like to deal with if at all possible because they have a very big motivation to sell at the end of the day though in a very solid and tight market with little inventory like we're seeing currently those sellers usually don't have to wait long if they're priced advantageously for those buyers out there they will get multiple offers in short order even now but because of these changes we'll know in the next two or three weeks if the markets actually gonna experience that slow down we do have school back in session that's a big factor in addition the feds gonna be meeting on the 17th and 18th of September 2024 to go over what's happening with the Fed funds rate and typically if that rates gonna change and come down or even go up whichever way rumor isn't gonna come down when it does it usually affects the mortgage rate that does definitely help out buyers and sellers I'm Connor with ha - Honor - Santa Clarita Open Houses is me. Over and out