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Valencia Real Estate Update: Surprising Trends for Buyers and Sellers · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: To December 30th, 2024.
• 0:02
  SPEAKER_00: I'll try to keep the coughing to a minimum.
• 0:04
  SPEAKER_00: Today we're going to do our Santa Clarita real estate update.
• 0:07
  SPEAKER_00: Today is a Valencia focus on Monday, so let's get to it.
• 0:10
  SPEAKER_00: Currently, 432 total active properties listed for sale in the Santa Clarita Valley.
• 0:16
  SPEAKER_00: That's going to include single-family homes, condominiums, also town homes.
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  SPEAKER_00: Price ranging$150,900 to over$5 million.
• 0:23
  SPEAKER_00: The median price range out here right now is about$844,000.
• 0:27
  SPEAKER_00: Average price per square foot,$457.
• 0:30
  SPEAKER_00: The biggest thing to know currently is the way the financing models are working.
• 0:34
  SPEAKER_00: People are talking about interest rates, and interest rates really haven't moved.
• 0:38
  SPEAKER_00: And I foresee that next year they're probably not going to move much either.
• 0:42
  SPEAKER_00: Just because when the economy starts getting better, it seems like housing interest rates are the last things people are concerned about.
• 0:49
  SPEAKER_00: Also, it's based on the 10-year bond.
• 0:51
  SPEAKER_00: And when the economy gets better, people are buying those bonds a lot more frequently.
• 0:56
  SPEAKER_00: So it's not causing any relaxation in that market.
• 0:59
  SPEAKER_00: Therefore, the mortgage rates probably are going to stay quite steady.
• 1:03
  SPEAKER_00: One of the things to look at if you are thinking about purchasing a residence, make sure that you're looking at these numbers prior to jumping in and understanding, just like I said before, when all the rumors were going around regarding interest rate reductions, make sure that you're not basing your today purchase on the hopes that interest rates are going to be coming down in the future because that's anybody's guess, and we really don't know when that happens.
• 1:29
  SPEAKER_00: So unless you have that proverbial crystal ball, and if you do, give me a buzz.
• 1:33
  SPEAKER_00: But if you don't, then again, buy because you get a mortgage interest deduction.
• 1:38
  SPEAKER_00: You're going to be able to have that ownership, make changes, do those things properties, and have more deductions than if you were renting, make sure it's financially financially feasible for you.
• 1:47
  SPEAKER_00: And if you're doing it because of family and those sorts of things as well.
• 1:51
  SPEAKER_00: Those are a big motivational factors to purchase real estate, even now as we're getting into January of 2025.
• 1:57
  SPEAKER_00: The other thing to look for online is the deep fakes.
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  SPEAKER_00: There's a lot of fake information being published out there on the different real estate websites, syndication sites as well.
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  SPEAKER_00: They're starting to use some generated, AI-generated content without checking what that content is revealing.
• 2:14
  SPEAKER_00: And of course, no, you start searching for toilet paper online and it shows up everywhere in your stream.
• 2:19
  SPEAKER_00: Same thing with real estate.
• 2:21
  SPEAKER_00: My suggestion to all the buyers and sellers out there connect with a local agent, reach out and tell them your intention.
• 2:29
  SPEAKER_00: They should be able to talk to you about the real estate market, explain to you the current data, give you proof of the things of which they speak, and then you'll be able to make much better buying and selling decisions in our local market.
• 2:41
  SPEAKER_00: I'm Connor with Honor.
• 2:43
  SPEAKER_00: Let's get into Valencia.
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  SPEAKER_00: 98 total listings in Valencia, just under 100.
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  SPEAKER_00: We do have condos and townhomes price range anywhere from 350 at the low end to 900,000 at the high end.
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  SPEAKER_00: Single family homes 750 to 2.5 million.
• 2:56
  SPEAKER_00: Medium price per square foot in Valencia$440.79.
• 3:03
  SPEAKER_00: Now right now, Valencia is showing about days on market.
• 3:07
  SPEAKER_00: That's average days on market time frames before properties are selling.
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  SPEAKER_00: Townhomes account for about 35% of all the Valencia listings.
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  SPEAKER_00: Single family homes, 65%, and of course, those have higher price points.
• 3:19
  SPEAKER_00: The things with condos and townhomes, in most cases, they carry a higher HOA bill.
• 3:25
  SPEAKER_00: So the homeowners associations can be up to$500, and in some of the new cases of new residences, over$1,000 a month.
• 3:33
  SPEAKER_00: Make sure that's factored in to your monthly payment because that's a shocker and that's a big chunk of change.
• 3:40
  SPEAKER_00: The other thing you want to do is find out can that HOA be increased in the coming months?
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  SPEAKER_00: How much can it go up?
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  SPEAKER_00: And what you need to be prepared for in the future.
• 3:49
  SPEAKER_00: If it's an older residence that might have been neglected by what when you're driving through and you're looking with your agent and you're like, ugh, this looks a little rough, make sure that that homeowners association isn't about to up everybody's dues.
• 4:02
  SPEAKER_00: You buying in at the last minute, they raise your HOA two or$300 a month so they can get garage doors put in or fix some kind of exterior painting or some other issue that might have come up via a lawsuit.
• 4:15
  SPEAKER_00: Even just general maintenance on these associations.
• 4:18
  SPEAKER_00: Sometimes they will raise those dues in order to get things done.
• 4:21
  SPEAKER_00: I'm Connor with Honor.
• 4:23
  SPEAKER_00: You want to see more information about this?
• 4:24
  SPEAKER_00: Go to Santa ClaritaOpenhouses.com.
• 4:27
  SPEAKER_00: That's my main system.
• 4:28
  SPEAKER_00: Reach out to me when you're ready.
• 4:30
  SPEAKER_00: And I hope you feel better.
• 4:32
  SPEAKER_00: Welcome.
• 4:32
  SPEAKER_00: Happy New Year.
• 4:33
  SPEAKER_00: We will be back tomorrow on the 31st.
• 4:36
  SPEAKER_00: Be well.