Latest / Connor with Honor: AI, Real Estate and Real Life / Daily Santa Clarita real estate radio show and podcast by Connor with Honor - tune in.

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Daily Santa Clarita real estate radio show and podcast by Connor with Honor - tune in. · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: We're at the 25th of July 2025.
• 0:03
  SPEAKER_00: We're going to get into your Santa Clarita real estate update right now.
• 0:07
  SPEAKER_00: I will have some tips on what to consider when people are making a request for repairs and how to look at things maybe in a different light, besides looking at it as somebody trying to take advantage of you as a real estate seller.
• 0:20
  SPEAKER_00: So let's talk about what's happening in the real estate market.
• 0:22
  SPEAKER_00: We have a total of 799 active listings on the market for sale.
• 0:28
  SPEAKER_00: That's going to include uh some coming soon listings as well.
• 0:32
  SPEAKER_00: Looks like that number is about 17.
• 0:34
  SPEAKER_00: So if you haven't seen the coming soon listings, you can get those.
• 0:37
  SPEAKER_00: If you go to Santa Clarita coming soon.com, I put up that system.
• 0:41
  SPEAKER_00: You can enter your information.
• 0:43
  SPEAKER_00: I'll send you all the coming soon listings as soon as they hit the market.
• 0:46
  SPEAKER_00: I need some parameters, or you can leave it blank.
• 0:49
  SPEAKER_00: There's not an overwhelming number that gets posted.
• 0:52
  SPEAKER_00: So anyway, it shouldn't be an uncomfortable amount.
• 0:55
  SPEAKER_00: If there were hundreds a week, yeah, I would say we should curtail that search.
• 0:59
  SPEAKER_00: Put in only what you're looking for as far as bedroom count typically.
• 1:03
  SPEAKER_00: Maybe just make it one area, one specific area, whatever that interest might be.
• 1:08
  SPEAKER_00: But as of now, I wouldn't panic too much.
• 1:10
  SPEAKER_00: There's not that many that are hitting the market.
• 1:12
  SPEAKER_00: For example, this week, we've had 11 coming soon listings posted in the past seven days.
• 1:17
  SPEAKER_00: 88 new listings have entered the market this week.
• 1:20
  SPEAKER_00: 93 properties have had their prices changed.
• 1:22
  SPEAKER_00: We've seen the price changes in triple digits over the past several weeks.
• 1:26
  SPEAKER_00: Now we're a little bit lower this week, but again, it depends on the snapshot of the week.
• 1:30
  SPEAKER_00: And I do these weeklies every day.
• 1:32
  SPEAKER_00: So, you know, the market, the numbers do change quite a bit depending on the week.
• 1:36
  SPEAKER_00: Back on market properties 19, that's lower.
• 1:38
  SPEAKER_00: Usually we're in the 30s or 40s.
• 1:40
  SPEAKER_00: So these are properties that go back onto the market after they've been canceled.
• 1:44
  SPEAKER_00: Active under contract properties 35, pending 56, 69 closed this last week.
• 1:49
  SPEAKER_00: Seven-day snapshot, of course.
• 1:50
  SPEAKER_00: Six expired, 14 canceled, 21 were put on hold, and five have been withdrawn from the market.
• 1:56
  SPEAKER_00: Now, when you're looking at a real estate transaction, in the state of California, all properties sold as is.
• 2:02
  SPEAKER_00: So anything the buyers ask for, in addition, after all terms have been negotiated via some kind of a mechanism like a repair request for repairs, I should say.
• 2:14
  SPEAKER_00: If they're asking for that, all that's negotiable.
• 2:16
  SPEAKER_00: Now, if it's health and safety stuff, stuff that's required by the bank in some cases, termite would be something that fits that bill.
• 2:24
  SPEAKER_00: If it is a finance property, if it's cash, maybe not.
• 2:26
  SPEAKER_00: But again, that's kind of a thin line.
• 2:28
  SPEAKER_00: It's difficult to buy a residence that has a termite infestation.
• 2:32
  SPEAKER_00: But besides that, that could be negotiable too.
• 2:35
  SPEAKER_00: Also the other items that are brought up, sometimes appraisers with loans now.
• 2:39
  SPEAKER_00: It's a little bit more critical because the appraisers involved in the process, they're going to be inspecting the property.
• 2:44
  SPEAKER_00: If it doesn't have the correct smoke alarms or if they're not functioning, carbon monoxide detectors, if it's in the valley, gas seismic shutoff valve for the gas meters, and water heater strapping, of course, both Santa Clara to San Fernando Valley in LA.
• 2:58
  SPEAKER_00: And there's also retrofits that have to be done as well in Los Angeles.
• 3:02
  SPEAKER_00: So that's something else.
• 3:03
  SPEAKER_00: There's companies that that's all they do.
• 3:05
  SPEAKER_00: Anyway, those things, though, a lot of them are not negotiable, just depending on that's what appraisers are going to need.
• 3:11
  SPEAKER_00: Plus, there's going to have to be some kind of a certificate that's written up that states the property has been retrofitted to this particular standard for this particular city or area.
• 3:21
  SPEAKER_00: Anyway, then you get the blessing.
• 3:23
  SPEAKER_00: But most everything else that comes down to negotiation.
• 3:26
  SPEAKER_00: So if somebody is approaching you in escrow, even though all properties sold as is, these are usually items that are not really cosmetic.
• 3:34
  SPEAKER_00: They're more of a you might want to get them done because they pose some kind of a health and safety issue in some sort of way.
• 3:42
  SPEAKER_00: When they're approaching you as a real estate seller, there are lots of ways to look at this.
• 3:46
  SPEAKER_00: Now, if this comes after a home inspection was completed, those types of items were discovered, then you should know that that home inspection report then becomes able to be seen by any future buyer.
• 4:00
  SPEAKER_00: I know you want to keep that buyer in escrow, I get that.
• 4:03
  SPEAKER_00: But that home inspection report, any reports, they're now full disclosure.
• 4:07
  SPEAKER_00: They are now part of the process.
• 4:09
  SPEAKER_00: So if this buyer doesn't work out and you have a home inspection report, that's why in this, in the in the in the sale of property, if a home inspection report is produced and the buyer doesn't request any repairs, well, it was produced, but it's not in my world.
• 4:28
  SPEAKER_00: I don't have that representing the seller if I happen to be the listing agent.
• 4:32
  SPEAKER_00: But if the agent sends it over just because they're trying to be friendly or kind, then it becomes part of the record.
• 4:37
  SPEAKER_00: Now, on the other hand, if they're requesting repairs, then I would want to validate those repairs with some kind of a home inspection report.
• 4:45
  SPEAKER_00: So of course, I would want that report to try to show my sellers and say these are these specific items, in addition to run the vetting of the home inspector themselves.
• 4:55
  SPEAKER_00: Maybe it's Uncle Bob that's learned how to put together a Word document and he sent all this over with some pretty pictures.
• 5:02
  SPEAKER_00: Again, that's probably not going to cut it.
• 5:04
  SPEAKER_00: The certifications are important.
• 5:06
  SPEAKER_00: The insurance bonds and all these sorts of things of a home inspector are also very relevant to their abilities, time on the job, that sort of thing.
• 5:15
  SPEAKER_00: But ultimately, these reports are based in fact.
• 5:18
  SPEAKER_00: There are photographic, there's photographic evidence to back up what they put together.
• 5:22
  SPEAKER_00: So now it comes, let's let's talk about what those repairs are and what that cost is going to be.
• 5:28
  SPEAKER_00: Well, right now with artificial intelligence, there's a lot of reports that come in that also have another report attached to it that's been factored or put together by a company that they do digital production of repair estimates.
• 5:43
  SPEAKER_00: They go through a home inspection report, they probably dump it into some large language model that has been built around some contractor's uh charge sheet, and then they come up with the values and what these things are going to cost to get remedied or repaired.
• 5:56
  SPEAKER_00: So it's really seamless, pretty good.
• 5:58
  SPEAKER_00: And then I, on my end, I can take that same thing and plug it into my chat GPT and ask it to verify if these numbers are correct, and then go through, and of course, we can at least find out if what we're being sold is a false bill of goods or something that's actually verifiable and true.
• 6:13
  SPEAKER_00: And in most cases, they're they're pretty close and they're not really being used as a reason to get more than what maybe somebody is entitled to, whatever that means.
• 6:23
  SPEAKER_00: So looking at these reports, then we make a determination and we look at time frame.
• 6:28
  SPEAKER_00: We also look at type of financing, we look at these other items.
• 6:32
  SPEAKER_00: We also pay strict attention that if this negotiation doesn't work and the buyer happens to walk, what does that cost look like to start the escrow process over?
• 6:42
  SPEAKER_00: How long is it going to take to get another buyer?
• 6:44
  SPEAKER_00: What that number is going to look like.
• 6:46
  SPEAKER_00: And if there was anything brought up in the repair for requests or in the inspection reports that are going to impact future saleability of the property, i.e., if they find something like mold and it has to be remediated.
• 6:58
  SPEAKER_00: If they find some other health and safety thing, like a termite infestation, that has to be remediated.
• 7:03
  SPEAKER_00: These things are going to have to occur before the house goes back on the market.
• 7:07
  SPEAKER_00: What's that delay look like?
• 7:08
  SPEAKER_00: And then what are those costs?
• 7:10
  SPEAKER_00: We might already have a cost by a particular termite company or a home inspector doing their charge sheet through an independent company telling us what these costs are going to be.
• 7:20
  SPEAKER_00: But of course, there's extra verification too.
• 7:23
  SPEAKER_00: More than likely a seller's probably not going to just call up those same companies and say, hey, would you go ahead and do this?
• 7:28
  SPEAKER_00: I trust you all then.
• 7:30
  SPEAKER_00: They'll probably want to get a second opinion.
• 7:32
  SPEAKER_00: So that's usually part of the case.
• 7:34
  SPEAKER_00: So when they do that, then how much time does that take?
• 7:37
  SPEAKER_00: So when you're looking at people requesting things, also you want to look at the intent.
• 7:42
  SPEAKER_00: If somebody comes in and they looks like they want to really buy the house and you have that feeling just through the way that they've been pretty amicable, they've been putting things together, they've been getting the timelines done.
• 7:56
  SPEAKER_00: Then we look at it as if when they send over these repair requests, what are they asking for?
• 8:02
  SPEAKER_00: If they're just asking for extra money on top of what maybe a few different items to be repaired would be, then yeah, that's that's not proper.
• 8:12
  SPEAKER_00: It's bad form.
• 8:14
  SPEAKER_00: But in some cases, sellers will agree to it just to get the deal done.
• 8:17
  SPEAKER_00: In other cases, they'll pull back and say, well, wow, they want they want$1,000 to replace two GFCI outlets.
• 8:24
  SPEAKER_00: Those are those outlets that are placed near water sources that pop just in case they get wet so people aren't electrocuted.
• 8:31
  SPEAKER_00: The outlets themselves aren't expensive.
• 8:33
  SPEAKER_00: If you hire an actual electrician, which of course we all would want to do that, to put those outlets in, maybe a hundred bucks, maybe two hundred bucks, but a thousand dollars is quite a stretch.
• 8:44
  SPEAKER_00: At least in this market in our city, maybe other cities are that's more fitting.
• 8:49
  SPEAKER_00: But not trying to get into their business, but just to give you an idea, that would be an overstretching of somebody wanting things to be done.
• 8:55
  SPEAKER_00: But in some cases, sellers just want to finish it and want to just go with it.
• 8:58
  SPEAKER_00: On the other case, maybe that'll offend the seller.
• 9:01
  SPEAKER_00: And the seller comes back if they had a lot of offers on the property, a lot of activity, and they realize there are other buyers waiting in the wings for the property, and maybe those other buyers happen to be cash, as maybe the first person that's in the process is cash.
• 9:17
  SPEAKER_00: Maybe they're they'll be more reluctant to do things.
• 9:20
  SPEAKER_00: In addition, moving through, you'll have to know that when you do all these timelines out, sometimes, depending on what the buyers are asking for, it would make sense to put those things together, especially if they're health and safety.
• 9:31
  SPEAKER_00: It is your house, it still hasn't closed yet.
• 9:34
  SPEAKER_00: And God forbid you get down to zero hour and the buyer croak or die in some sort of way.
• 9:42
  SPEAKER_00: I guess there's only one way to die.
• 9:44
  SPEAKER_00: But let's say they die, then the escrow process stops and the property has to go back on the market for sale.
• 9:50
  SPEAKER_00: These are things to consider.
• 9:51
  SPEAKER_00: It might not just be the buyer wanting to cancel, it could be other reasons why the property comes back on the market.
• 9:56
  SPEAKER_00: So once you have these inspections, understand that they can be called on by the other side.
• 10:01
  SPEAKER_00: Now they're part of the disclosure procedure for the real estate listing.
• 10:05
  SPEAKER_00: Could that hold things up in the future?
• 10:07
  SPEAKER_00: Maybe.
• 10:07
  SPEAKER_00: It just depends on what's on the report.
• 10:10
  SPEAKER_00: Also, no two reports are the same.
• 10:12
  SPEAKER_00: Understand that.
• 10:13
  SPEAKER_00: So now the next buyer comes in, they have their own inspection, own termite company, own everything, and now they're writing up reports as well.
• 10:21
  SPEAKER_00: Things are going to be different.
• 10:22
  SPEAKER_00: And I know when you're looking at an outlet and you test it and it's not working, that's probably going to be the same.
• 10:29
  SPEAKER_00: But what if it's missed?
• 10:30
  SPEAKER_00: Yeah, bad home inspector.
• 10:32
  SPEAKER_00: So on one report, you have it saying that this outlet is good, or there was no issues found in a particular room, or it wasn't addressed at all.
• 10:42
  SPEAKER_00: Then on the other report, you have, well, it says this outlet was burned out.
• 10:46
  SPEAKER_00: Maybe it's one of those outlets that has a, I forgot what you call it, but it has a switch associated to it.
• 10:52
  SPEAKER_00: So when you walk in a room, you flip the switch, and then the outlet becomes active and turns on the light.
• 10:57
  SPEAKER_00: Maybe it has one of those, it kind of just skips my mind what that's called.
• 11:00
  SPEAKER_00: But anyway, maybe the home inspector is kind of new.
• 11:03
  SPEAKER_00: Maybe they didn't realize that was part of the case.
• 11:05
  SPEAKER_00: But whatever it means, whatever the reason, home inspections could be different.
• 11:10
  SPEAKER_00: Termite reports could be somewhat different.
• 11:12
  SPEAKER_00: One termite company could say, well, yes, this is this, and then the other one could say, well, it's really, it's really not this, it's more of this situation.
• 11:20
  SPEAKER_00: Knowing that, now all of a sudden you have two reports.
• 11:23
  SPEAKER_00: And maybe if you go at escrow a third time, you have three reports.
• 11:26
  SPEAKER_00: It just makes it more complicated for the buyers to make decisions because now there's all this information, and in some in some ways it starts to conflict with other information.
• 11:37
  SPEAKER_00: Now it's hard to pull back and just go with what the seller says about the property now that you have multiple reports that exist of the same type of nature with regard to home inspection.
• 11:47
  SPEAKER_00: You can see how the water gets incredibly muddy, the links in the chain get weak, and it starts to create issues.
• 11:53
  SPEAKER_00: Knowing all of these things, make sure your agent explains to you in a more global way what's happening with the repair request.
• 12:02
  SPEAKER_00: What if you don't?
• 12:04
  SPEAKER_00: What if you meet halfway?
• 12:06
  SPEAKER_00: What if you try to renegotiate certain other items in the contract?
• 12:10
  SPEAKER_00: What's that going to do for you?
• 12:12
  SPEAKER_00: And a lot of people start to talk about commission.
• 12:15
  SPEAKER_00: Let's go after their agent's commission.
• 12:17
  SPEAKER_00: You know, we that's a big issue for us.
• 12:20
  SPEAKER_00: Let's go after it.
• 12:20
  SPEAKER_00: That's already been negotiated.
• 12:22
  SPEAKER_00: To be able to bring that up now would be incredibly bad form, but it's already been something that was agreed upon in the beginning.
• 12:31
  SPEAKER_00: That's something else to think about.
• 12:33
  SPEAKER_00: So whenever you're wrapping your mind about real estate, around real estate, making these decisions, you want to understand that each part of that process, once it's agreed upon and ratified by all parties, it can only be changed by agreement from all parties.
• 12:49
  SPEAKER_00: And of course, it's already been agreed upon.
• 12:52
  SPEAKER_00: And yes, you could go in and say, Well, we're not going to do this.
• 12:54
  SPEAKER_00: We're going to go ahead and go after your uh your agent's commission.
• 12:58
  SPEAKER_00: We want them to kick in for this price, or we're going to cancel escrow.
• 13:02
  SPEAKER_00: Again, that would turn off maybe a few people, if not everybody in the process.
• 13:06
  SPEAKER_00: So you have to be weary, understanding that, you know, now this other thing has to be taken care of to start going after what people are making in the process.
• 13:15
  SPEAKER_00: That's uh that's a tall order, and maybe it'll work out for you.
• 13:18
  SPEAKER_00: In most cases, it might not.
• 13:21
  SPEAKER_00: But that's something that you can also maybe make an attempt to do if you're of that mindset.
• 13:28
  SPEAKER_00: Looking at the entire picture is important.
• 13:31
  SPEAKER_00: Factoring out what these costs are going to be in the future.
• 13:35
  SPEAKER_00: If you don't agree after you get the work done on the property, because now you've discovered it had it, and you probably didn't know before as a seller, what's that next step look for you like?
• 13:45
  SPEAKER_00: So you get the you get the property rehabbed in whatever way, you get these things fixed.
• 13:50
  SPEAKER_00: And then that next step you come back on the market.
• 13:53
  SPEAKER_00: Well, what's that price?
• 13:54
  SPEAKER_00: And then you have to look at where the historical pricing was.
• 13:57
  SPEAKER_00: How long did it take to get into escrow the first time or the second time?
• 14:01
  SPEAKER_00: Is the house going like this?
• 14:03
  SPEAKER_00: Or are there other things that maybe it's one of those properties that not everybody wants, but a few people do, and it has just all those added extras.
• 14:13
  SPEAKER_00: But those properties typically don't move as fast as maybe others that are more vanilla in nature, maybe something that a majority of people would actually want to buy.
• 14:23
  SPEAKER_00: And I'm talking about properties that might have a big view out of the backyard because there's some maintenance with the back.
• 14:29
  SPEAKER_00: Maybe properties that are um, other than that, I can't really think of any other types.
• 14:34
  SPEAKER_00: Maybe properties that are closer to freeway access points, but you have the noise from the freeway, these sorts of things.
• 14:41
  SPEAKER_00: But you're also very close, so maybe that's gonna appeal to less people than others that really don't care about their proximity to the freeway.
• 14:47
  SPEAKER_00: But when they want to buy it, they're gonna go for it because it's probably one of the only ones that's gonna be for sale with that kind of proximity if you get my drift.
• 14:56
  SPEAKER_00: Just depends on the market and how much inventory's out there.
• 14:58
  SPEAKER_00: But that's what we see.
• 14:59
  SPEAKER_00: That's the type of property I'm speaking about.
• 15:01
  SPEAKER_00: Anyway, let me know what you think about this particular show.
• 15:04
  SPEAKER_00: Have you ever run into this situation yourself?
• 15:07
  SPEAKER_00: Have you ever denied a buyer their uh repair requests?
• 15:11
  SPEAKER_00: And why would that be?
• 15:12
  SPEAKER_00: And have you ever had buyers try to take advantage of you as a seller?
• 15:16
  SPEAKER_00: I'm sure that's come up.
• 15:17
  SPEAKER_00: Let me know what you think.
• 15:18
  SPEAKER_00: I'm Connor with honor.
• 15:19
  SPEAKER_00: We will see you in the next one.
• 15:21
  SPEAKER_00: If you want to get on a Zoom call with me and talk about your real estate options as a buyer in the present market or as a seller in the present market, I put a URL together that's easy to remember.
• 15:34
  SPEAKER_00: Zoomeme scv.com.
• 15:37
  SPEAKER_00: Zoomme scv.com.
• 15:39
  SPEAKER_00: You'll find my calendar though, you'll find a video that talks about what we'll talk about.
• 15:43
  SPEAKER_00: And we'll get what you're looking to do, and then we'll take it from there.
• 15:46
  SPEAKER_00: It's no obligation, you're not signing anything or giving up your firstborn.
• 15:51
  SPEAKER_00: It's just us talking about what's going to happen in the market, look at your plan, see if it's good, and then refine it to make it even better.
• 15:59
  SPEAKER_00: I'm Connor with honor.
• 16:00
  SPEAKER_00: We'll talk to you in the next one.
• 16:01
  SPEAKER_00: Thanks for watching.