Latest / Connor with Honor: AI, Real Estate and Real Life / Santa Clarita Real Estate Update: Three Markets, One Valley

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Santa Clarita Real Estate Update: Three Markets, One Valley · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: I don't know if it's more like watching tennis or the Lakers, but this is what's happening today in real estate.
• 0:05
  SPEAKER_00: So watching Santa Clarita Valley lately, these numbers are kind of all over the place.
• 0:09
  SPEAKER_00: From 800 to 839 today, we were up at 855 not too long ago.
• 0:14
  SPEAKER_00: So they're very much fluctuating.
• 0:16
  SPEAKER_00: And these aren't because people are canceling or expiring listings, they're actually going into escrow.
• 0:22
  SPEAKER_00: So currently, right now in Santa Clarita, it's a little heavy.
• 0:25
  SPEAKER_00: Numbers pretty big.
• 0:25
  SPEAKER_00: 184 properties in escrow right now.
• 0:28
  SPEAKER_00: 54 properties have closed in the last seven days.
• 0:31
  SPEAKER_00: The 54 is tracking very normally right now for this time of year.
• 0:35
  SPEAKER_00: And right now, median sales price,$767,000.
• 0:39
  SPEAKER_00: This is going to run, though, between single family residences, condominians, townhomes.
• 0:43
  SPEAKER_00: A big mistake people make is they assume this market is one market.
• 0:47
  SPEAKER_00: This is three markets, especially right now, and that's not difficult to see.
• 0:51
  SPEAKER_00: We have single family residences.
• 0:54
  SPEAKER_00: That's a completely different market.
• 0:55
  SPEAKER_00: Right now, that market is in its transitional phase from a seller's to a midway point into a buyer's market if trends keep on the same path.
• 1:04
  SPEAKER_00: In the condominium world in Santa Clarita Valley, that is very much a buyer's market.
• 1:09
  SPEAKER_00: It has been for a while.
• 1:10
  SPEAKER_00: We have over eight months of inventory in that world.
• 1:12
  SPEAKER_00: Townhomes, they are also transitioning into a buyer's market as well.
• 1:18
  SPEAKER_00: So these are three markets.
• 1:19
  SPEAKER_00: So really, if you're a seller out there contemplating putting something on the market, maybe you're in that super low interest rate.
• 1:26
  SPEAKER_00: The question that you have to ask is what that's going to look like when you go somewhere else and what the price points difference is going to be.
• 1:32
  SPEAKER_00: If you're here in Santa Carita, more than likely this is a more expensive market than potentially where you're going to be going, unless you're moving to Manhattan or San Francisco or some other very expensive city.
• 1:43
  SPEAKER_00: If you are going somewhere in the Midwest or somewhere in Florida, somewhere in Texas, somewhere in Tennessee, I know we do a lot of relocations to the Carolinas as well.
• 1:51
  SPEAKER_00: Lots a lot less expensive for real estate listings.
• 1:54
  SPEAKER_00: Taking your interest rate would be cool.
• 1:56
  SPEAKER_00: Hopefully that might be something that might change here in the future.
• 1:59
  SPEAKER_00: But when you're going there to purchase, there also might be the capability of you taking over somebody else's interest rate.
• 2:05
  SPEAKER_00: That's something to consider.
• 2:07
  SPEAKER_00: It involves a little bit more heavy lifting, but you just need to look if that particular home loan is transferable.
• 2:12
  SPEAKER_00: And there are a lot of cases where that is that is uh prevalent.
• 2:17
  SPEAKER_00: Now, when you're selling your house out here in California, more than likely you're going to have a pretty good chunk of change.
• 2:22
  SPEAKER_00: That's what's going to allow you to make that transition.
• 2:25
  SPEAKER_00: If you're going there bare bones with uh no reserves in the bank or just not much at all, then more than likely you're not going to be able to do that buying into somebody's current mortgage because there's probably going to be some difference.
• 2:37
  SPEAKER_00: But if you do have that cash on hand, that might be worth saving yourself.
• 2:41
  SPEAKER_00: If you want to see more information about this, you can go to sellersonlyagent.com and of course santaclarita openhouses.com.
• 2:48
  SPEAKER_00: Hook up with me there or book with honor if you want to just get that appointment, bookwithhonor.com.
• 2:53
  SPEAKER_00: Thanks for watching today's update.
• 2:54
  SPEAKER_00: We'll see you tomorrow.
• 2:54
  SPEAKER_00: Be well.