Latest / Connor with Honor: AI, Real Estate and Real Life / Valencia CA top three tips by Connor with Honor at Santa Clarita open houses for home buyers and home sellers as we close out 2024

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Valencia CA top three tips by Connor with Honor at Santa Clarita open houses for home buyers and home sellers as we close out 2024 · Connor with Honor: AI, Real Estate and Real Life

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  SPEAKER_00: December 23rd, 2024, good day everybody.
• 0:02
  SPEAKER_00: I'm Connor with Honor.
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  SPEAKER_00: Let's go into the real estate update.
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  SPEAKER_00: Today's going to be all about Valencia, but I want to give you an overview of the entire Santa Clarita Valley.
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  SPEAKER_00: In addition, if you have been pre-qualified in 2024 and you've been waiting for whatever to change in the market, you're thinking, okay, 25, 25 is going to be your year, then really it's very simplistic.
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  SPEAKER_00: You don't have to go through all that pre-qualification process again with your lender.
• 0:28
  SPEAKER_00: It should be very simple.
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  SPEAKER_00: You should just be able to reach out and contact them and say, okay, now I'm with Connor.
• 0:34
  SPEAKER_00: What do I need to do to update my stuff?
• 0:36
  SPEAKER_00: I'm just kidding.
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  SPEAKER_00: Stay with your agent if you love them and that sort of thing.
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  SPEAKER_00: But again, it shouldn't be difficult.
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  SPEAKER_00: They should just need some maybe new information, paycheck, stub or two, whatever.
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  SPEAKER_00: Now, as we get into tax season into April, then that's going to change.
• 0:49
  SPEAKER_00: Tax returns from that for last year are going to be probably very important as you get into May of 2025.
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  SPEAKER_00: But up until that point, we should be good.
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  SPEAKER_00: So December 23rd, 358th day of this year, week number 52, eight days remaining until 2025.
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  SPEAKER_00: And this year is definitely wrapping up quickly, but the real estate market is still buzzing with activity.
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  SPEAKER_00: So let's get into today's report.
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  SPEAKER_00: Real estate tip of the day.
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  SPEAKER_00: So for you buyers, don't overlook interest rates when budgeting for your home purchase.
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  SPEAKER_00: The lower interest rate can save you thousands of dollars over the life of your loan.
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  SPEAKER_00: For sellers out there, your tip today, make sure you declutter and depersonalize your home.
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  SPEAKER_00: If you have that wall, a lot of police officers do, especially firefighters, you have that room that is just blazoned with red, and you have all of your wards and pictures with the fire apparatus and loving on the equipment, that sort of thing.
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  SPEAKER_00: Probably a better idea to make that room switched back to its original intended purpose.
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  SPEAKER_00: So if your war room happens to be a bedroom or was a bedroom or an office or something, putting it back at regard will actually help buyers and help your bottom line when it comes to selling that house.
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  SPEAKER_00: So that's something best.
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  SPEAKER_00: And also it able, it enables them to hang their own mental curtains because maybe they're not firefighters, maybe they're not cops, and maybe they hate those professions.
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  SPEAKER_00: There's a lot more of that than we used to see when we were all growing up.
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  SPEAKER_00: But again, that's kind of the trend now, and I think that's going to change soon.
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  SPEAKER_00: Santa Clarita Valley Market Overview, real estate market in our valley does remain active as we close out the year.
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  SPEAKER_00: Here's the overall numbers.
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  SPEAKER_00: 458 properties are currently on the market.
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  SPEAKER_00: We range from$160,000.
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  SPEAKER_00: If you haven't seen that house, go to Santa Clarita Openhouses.com and do a quick Santa Clarita search.
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  SPEAKER_00: You'll see that.
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  SPEAKER_00: And then of course$5.1 million is the higher end.
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  SPEAKER_00: Median list price$829,900.
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  SPEAKER_00: Medium price per square foot,$439.
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  SPEAKER_00: On my website, Santa ClaritaOpenhouses.com.
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  SPEAKER_00: You can search by price per square foot, which is interesting.
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  SPEAKER_00: If you take those properties that have been on the market longer, you can actually make adjustments with regard to the price per square foot and maybe get a better than on market deal, at least as we end out the year.
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  SPEAKER_00: Pending sales in all of Santa Clarita Valley, 118 properties are under contract.
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  SPEAKER_00: That median days on market, 31 days, definitely keeping that buyer interest high.
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  SPEAKER_00: Closed sales in the last 60 days, 47.
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  SPEAKER_00: Average sale to list price ratio all over Santa Clarita Valley, 97.7, meaning the sellers have their properties priced pretty well, but they're not getting everything they want overall as far as those listing price to sales price ratios.
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  SPEAKER_00: And again, that median closing price 789,178.
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  SPEAKER_00: So as I promised, Valencia is our update for today on Monday.
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  SPEAKER_00: That breakdown is going to be this way.
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  SPEAKER_00: Valencia continues to be a hot spot within the Santa Cruz Valley.
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  SPEAKER_00: There's desirable amenities and a range of property options.
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  SPEAKER_00: So active listings currently in the Valencia area, just over 120.
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  SPEAKER_00: The price range is again for those are$580,000, upwards of$5 million.
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  SPEAKER_00: So it's going to depend.
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  SPEAKER_00: One of the things that I would recommend the days on market time frame for Valencia overall, 59 days and the proper properties that are most popular anywhere between$700,000 and$900,000.
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  SPEAKER_00: One other thing to watch out for for you buyers out there and also sellers, if you guys are interested in properties and you're looking at them and yours happen to have Melaruz as a seller, and you buyers are looking for properties with Melaruz, a couple questions to ask.
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  SPEAKER_00: Maybe as a seller, you can benefit.
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  SPEAKER_00: And I know I've sold some properties lately where the Melaruz is about to end.
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  SPEAKER_00: That's not a bad thing to talk about with those buyers.
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  SPEAKER_00: Basically, say you only got a couple more years of this, then it's going to drop off.
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  SPEAKER_00: If in fact you can get some kind of verification that it will indeed stop at that point, it's not going to be renewed for whatever reason.
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  SPEAKER_00: For you buyers out there, one of the things to maybe check with your tax professional and find out if Melaruz is something you might be able to do something about on your taxes.
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  SPEAKER_00: Not a bad question to ask.
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  SPEAKER_00: I don't know if it's possible, but again, I'm not a CPA.
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  SPEAKER_00: So asking those questions definitely will help.
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  SPEAKER_00: And also for your buyers out there, when you're purchasing real estate, ask your CPA about that mortgage interest deduction.
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  SPEAKER_00: Because when you're renting a property, it doesn't apply.
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  SPEAKER_00: But if you have a property financed and you fit within the credit profile, you might be able to write off that mortgage interest, which at the very beginning of a loan is a ton of money, almost a hundred percent, even in a 30-year fixed loan.
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  SPEAKER_00: The banks, of course, they want to get their money up front, right?
• 5:37
  SPEAKER_00: I'm Connor with Honor.
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  SPEAKER_00: Please check out Santa Clarita Openhouses.com.
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  SPEAKER_00: I did put together a book recently, how to buy and sell real estate.
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  SPEAKER_00: This is the Santa Clarita edition.
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  SPEAKER_00: I did update it for 2025.
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  SPEAKER_00: Check it out.
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  SPEAKER_00: Look at my blog as well for Santa Clarita Open Houses.
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  SPEAKER_00: When you're ready, reach out.
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  SPEAKER_00: I know probably you're not going to be doing much until 2025 with regard to real estate.
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  SPEAKER_00: But if you have any friends or family, please send them my way.
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  SPEAKER_00: I promise I will take great care of them as always.
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  SPEAKER_00: Everybody have a fantastic week.
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  SPEAKER_00: We will be back tomorrow.
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  SPEAKER_00: Tomorrow's going to be our Stevenson ranch update for Christmas Eve, and then Christmas, we will present sagas and continue the process.
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  SPEAKER_00: No breaks, folks.
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  SPEAKER_00: Let's get this done.
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  SPEAKER_00: I'm Connor with Honor, over and out.