Latest / Connor with Honor: AI, Real Estate and Real Life / Newhall California real estate update by Santa Clarita open houses

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Newhall California real estate update by Santa Clarita open houses · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: I know what you're thinking.
• 0:01
  SPEAKER_00: How can this guy do a real estate update every day of the week and still make it so interesting, so riveting that we just want to watch it all day long over and over and over and even subscribe and share it and mention it and even do some of those little short things with it.
• 0:18
  SPEAKER_00: All sorts of fancy stuff.
• 0:19
  SPEAKER_00: Well, it's not easy, let me tell you.
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  SPEAKER_00: Alright, so today we're in Santa Cruita Valley.
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  SPEAKER_00: We're gonna look over the entire valley.
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  SPEAKER_00: Today's December 12th, 2024, 347th day of the year, week number 50, and just a few more weeks left in this year.
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  SPEAKER_00: Christmas is just around the corner.
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  SPEAKER_00: So let's dive into the overall Santa Cruita Valley.
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  SPEAKER_00: Then we're gonna look at Newhall, California, specifically.
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  SPEAKER_00: 499 total listings all across Santa Clarita Valley.
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  SPEAKER_00: We have a property out there listed for sale, 160 grand.
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  SPEAKER_00: That's a one-bedroom, 484 square foot host house in Canyon Country, California.
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  SPEAKER_00: Check that out at Santa Clarita Openhouses.com.
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  SPEAKER_00: Just punch in that number,$160,000.
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  SPEAKER_00: There at the very top search bar, you'll be able to pull that up.
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  SPEAKER_00: As long as it's not in escrow.
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  SPEAKER_00: And actually, you'll even see it in escrow there if it happens to go in there.
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  SPEAKER_00: And then we have one priced at almost$5.1 million.
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  SPEAKER_00: Massive Valencia house over$11,000 square feet.
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  SPEAKER_00: So that's kind of where we are.
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  SPEAKER_00: We're looking at about average days on market 67 days.
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  SPEAKER_00: Right now, uh we do have median days on the about 55.
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  SPEAKER_00: So we have that holiday slowdown that we see typically every year.
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  SPEAKER_00: But now let me jump into the new hall market.
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  SPEAKER_00: Also, just to mention, for you using conventional loans out there, that is the dominant type of loan being used currently to purchase real estate in Santa Clarita Valley.
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  SPEAKER_00: Then after that, we have FHA and V financing, and that's running about$900,000 or less for those types of residences, people still using those loan types.
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  SPEAKER_00: There are limits to those, but again, it's something to look at.
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  SPEAKER_00: Usually with a conventional loan, 20% down, you're not carrying mortgage insurance as part of your payment every month.
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  SPEAKER_00: That's extra money.
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  SPEAKER_00: If you're using FHA, then probably you're going to have that mortgage insurance.
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  SPEAKER_00: And it can be a couple hundred bucks even more, depending on price range and some other factors.
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  SPEAKER_00: For New Hall, though, let's look at that specifically for today.
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  SPEAKER_00: 32 active listings currently, that's going to be single family residences at the bottom end of that scale,$339,400 for a one-bedroom condo that was built in 1951.
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  SPEAKER_00: Then we have a property massive house,$1.8 million on the other end of it.
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  SPEAKER_00: Average days on market$68, median price, about$911,000.
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  SPEAKER_00: Now, there in New Hall, same thing as running all of Santa Cruz Valley.
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  SPEAKER_00: We have conventional loans dominating.
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  SPEAKER_00: FHARDA are also coming in.
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  SPEAKER_00: It looks like those price ranges are running under$750,000.
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  SPEAKER_00: Single family residences starting at$450 for the smaller houses, and then you can get up plus$1.8 million right now, current active markets.
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  SPEAKER_00: We have condos town homes at the low end$289, high end$899,000 currently for sale in New Hall, California.
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  SPEAKER_00: Now, if you're planning on purchasing something closing before the end of the year, cash is going to work.
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  SPEAKER_00: Conventional may work, but if it's something that has to be closed by the 31st of December, make sure you're asking your lender those right questions, following up with them and making sure that they're giving you that they can actually do it in writing.
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  SPEAKER_00: And if they don't do it in writing, it can't be done.
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  SPEAKER_00: So you need to make that part of your offering contract if in fact you have to close by the end of the year.
• 3:34
  SPEAKER_00: Cash should work depending on how long you're going to give yourself for investigations and whether or not, even though it's cash, whether or not you're going to build an appraisal contingency to your offer, which we see sometimes with cash offers.
• 3:46
  SPEAKER_00: It depends, it depends on the market and if something's inflated or not.
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  SPEAKER_00: But we do see that happen.
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  SPEAKER_00: Now, if you're looking to buy or sell and you're asking yourself, what's the best time?
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  SPEAKER_00: Right now isn't a bad time because there are a lot of buyers in the market.
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  SPEAKER_00: Traditionally, you're going to have more competition if you're trying to sell first quarter, mid-first quarter, in first quarter, and second quarter of the following year.
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  SPEAKER_00: So in 2025, we're probably going to see that.
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  SPEAKER_00: One of the questions we get are interest rates going to be coming down next year?
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  SPEAKER_00: Looks like the economy seems to be getting a little bit stronger right now.
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  SPEAKER_00: And as long as that continues, probably not.
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  SPEAKER_00: But again, it's something to watch out for.
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  SPEAKER_00: But never, ever, ever, ever buy something dependent on your hopes.
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  SPEAKER_00: Hopefully, income, hopeful for having overtime come through.
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  SPEAKER_00: You got to buy it at your base income and be comfortable there.
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  SPEAKER_00: Then everything else on top of that is gravy in the future.
• 4:46
  SPEAKER_00: I'm Connor with Honor.
• 4:47
  SPEAKER_00: Please check out my new book.
• 4:49
  SPEAKER_00: I did write one.
• 4:50
  SPEAKER_00: It is wonderful, if I do say so myself.
• 4:52
  SPEAKER_00: Selfish plug.
• 4:53
  SPEAKER_00: You can find that at Santa ClaritoOpenhouses.com.
• 4:56
  SPEAKER_00: There on the homepage, you can click over and go to Amazon and pick a copy up for yourself.
• 5:00
  SPEAKER_00: I'm Connor with Honor.
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  SPEAKER_00: We'll be back tomorrow.
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  SPEAKER_00: Today's new haul tomorrow is going to be Canyon Country, and then we'll have Castaic, and then that's on Saturday.
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  SPEAKER_00: And then on Sunday we'll have Acton and Aqua Dulce, those combined market updates for Sunday.
• 5:16
  SPEAKER_00: And then back on Monday with Valencia.
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  SPEAKER_00: Every day of the week I do this, and thank you so much for watching.
• 5:22
  SPEAKER_00: Thank you for sharing.
• 5:23
  SPEAKER_00: When you know somebody that wants to do anything in real estate, I don't care if they're in tin buck too, send them my way.
• 5:30
  SPEAKER_00: I'll find them an agent that ascribes to my same philosophy, morals, and code with honor and help them out.
• 5:36
  SPEAKER_00: I'm Connor with Honor.
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  SPEAKER_00: Have a fantastic day over and out.