Latest / Connor with Honor: AI, Real Estate and Real Life / Podcasting Santa Clarita Open Houses dot com with the Mello Roos and Special Assessment taxes for Santa Clarita Home Buyers

Transcript

Podcasting Santa Clarita Open Houses dot com with the Mello Roos and Special Assessment taxes for Santa Clarita Home Buyers · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Well, Wednesday, June 19th, 2024.
• 0:03
  SPEAKER_00: I'm Connor with Honor.
• 0:04
  SPEAKER_00: Thank you so much for tuning in to your daily real estate broadcast.
• 0:07
  SPEAKER_00: We're going to be talking about the current inventory in Santa Clarita Valley.
• 0:11
  SPEAKER_00: If you go to Santa ClaritaOpenhouses.com.
• 0:14
  SPEAKER_00: We have 405 total active units.
• 0:16
  SPEAKER_00: That's going to include the coming soon listings, the last seven days that have transpired here.
• 0:20
  SPEAKER_00: We have 15 listings that have been introduced coming soon.
• 0:23
  SPEAKER_00: 77 new listings have hit the market.
• 0:25
  SPEAKER_00: 47 properties have experienced price changes.
• 0:28
  SPEAKER_00: We have 21 properties that have gone back on the market.
• 0:31
  SPEAKER_00: 33 properties have gone into escrow.
• 0:34
  SPEAKER_00: 49 deeper into escrow.
• 0:36
  SPEAKER_00: 64 sold this last week.
• 0:37
  SPEAKER_00: Congrats to those home, new homeowners out there.
• 0:41
  SPEAKER_00: Six expired, six canceled, ten held, three withdrawn, 405 total.
• 0:46
  SPEAKER_00: Now, on the real estate news cycle, there's a lot of websites talking about the interest rates, and a lot of the buyers that I have are becoming overly concerned about them.
• 0:57
  SPEAKER_00: Here's what I explained to them.
• 0:59
  SPEAKER_00: It really is the longer-term goal that you're looking at with regard to real estate.
• 1:04
  SPEAKER_00: If interest rates are such that they're outside your comfort zone, stopping your ability to purchase real estate, then you don't purchase real estate.
• 1:14
  SPEAKER_00: If you look at what your payment is and your lender's saying, listen, you're completely approved at this amount, but then you look at your payment where you currently are, and I understand in life you need to change to grow, you need to be challenged to be able to level up and all that sort of thing, and I get that.
• 1:31
  SPEAKER_00: But being mortgage poor or stretching yourself so thin that it creates many other obstacles in your life, you need to make your choice and then limit yourself accordingly.
• 1:43
  SPEAKER_00: Do not jump all in.
• 1:44
  SPEAKER_00: And we see a lot of stories out there on the wire.
• 1:47
  SPEAKER_00: They talk about people that have purchased real estate, yet there were these unexpected costs that came in.
• 1:54
  SPEAKER_00: In Santa Cruita Valley, as I talk about on my blog at Santa ClaritaOpenhouses.com, there are Melaruz tax that are in place, and there are some of those bonds that have an end date, and that end date is something that you might want to factor in, but that is if in fact they really will end the date that they say they will.
• 2:14
  SPEAKER_00: So you can crawl down that rabbit hole and do your own research, what Melaruz will actually stop, or who might continue needing the money, and then what showing of proof is necessary for that to have it continue.
• 2:26
  SPEAKER_00: And this only comes up because Melaruz and those extra special assessment taxes, those add to that LA County tax base of 1.25%, which is on average what a house would be taxed at for property taxes in Los Angeles County.
• 2:42
  SPEAKER_00: Now, looking at that, understanding that, you factor that into your overall payment and understand the assessed value of the house you're purchasing is well the value that you purchase the house for.
• 2:55
  SPEAKER_00: That's what it's gonna be assessed for taxes.
• 2:58
  SPEAKER_00: Very simply, if we're looking at a million dollars worth of real estate, that's what you just purchased, that's the new assessment amount, so you're gonna be paying 1.25% on that million dollars if there are no extra assessments or Melaruse, on average in Los Angeles County, that's your property tax bill, split into two, you have it twice a year.
• 3:19
  SPEAKER_00: If you get to that point, though, and haven't allowed for it or saved for it, well, that's gonna be an issue because then your taxes become delinquent, and with everything else that becomes delinquent, then you have fines and penalties, and in some cases, people completely get buried in these situations.
• 3:35
  SPEAKER_00: Be smart, watch out, get a good advisor out there.
• 3:38
  SPEAKER_00: I'm Connor with Honor.
• 3:39
  SPEAKER_00: When you're ready, reach out to me.
• 3:41
  SPEAKER_00: Please check out Santa Clarita Openhouses.com.
• 3:44
  SPEAKER_00: It has everything, it's updated moment by moment.
• 3:47
  SPEAKER_00: You're gonna see an irritating window pop up that says, please share with me information, let me help you.
• 3:53
  SPEAKER_00: But I assure you, it is not a brick wall, it is merely a feather enclosure that you can break through very easily.
• 4:00
  SPEAKER_00: So all you do is just bypass it and continue to search and use the system as you would.
• 4:05
  SPEAKER_00: It is completely unlocked from that vantage point.
• 4:08
  SPEAKER_00: You will see every single listing active and for sale and also sold.
• 4:12
  SPEAKER_00: This is where my sellers do a lot of their research because they know they can trust the data, because the data comes from the multiple listing service and there is no adjustment out of the algorithm within the system to reflect different data.
• 4:26
  SPEAKER_00: You are looking at sold properties at SantaClaritaOpenhouses.com.
• 4:31
  SPEAKER_00: I'm Connor with Honor.
• 4:32
  SPEAKER_00: Thank you so much for watching.
• 4:33
  SPEAKER_00: Be well, and we will be back tomorrow with another exciting edition of your Santa Clarita Real Estate Daily Report.
• 4:40
  SPEAKER_00: I'm here, be well.
• 4:41
  SPEAKER_00: Connor McIver, over and out.