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Refinancing in Santa Clarita? The Questions to Ask Your Lender First · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: September 6, 2025, a day that will well probably not live in infamy, but let's go ahead and see what's happening on the market.
• 0:06
  SPEAKER_00: So right now, just doing the daily real estate recap, pulled in all the listings that we have listed for sale here in the Santa Clarita Valley.
• 0:15
  SPEAKER_00: A couple things.
• 0:16
  SPEAKER_00: I'll get to some of the things to watch out for here in real estate as I always do when I'm doing my shows.
• 0:23
  SPEAKER_00: Also, don't forget if you go to Santa ClaritaOpenhouses.com, go to the blog.
• 0:28
  SPEAKER_00: In fact, I'll show you that in just a second.
• 0:30
  SPEAKER_00: Let me pull that one up.
• 0:32
  SPEAKER_00: If you go to the blog, then what you'll end up seeing are all the new properties.
• 0:36
  SPEAKER_00: So I reference a lot of those here when I'm doing the shows every morning.
• 0:40
  SPEAKER_00: And this video, today's video will be updated and placed here, as you can see.
• 0:45
  SPEAKER_00: So this was for yesterday.
• 0:46
  SPEAKER_00: So I try to do a new video every single day.
• 0:48
  SPEAKER_00: But come down here and look at the properties.
• 0:51
  SPEAKER_00: You choose, for example, Santa Clarita Valley.
• 0:54
  SPEAKER_00: You choose this particular city.
• 0:56
  SPEAKER_00: What will end up happening is when you click on View More, what's going to show up is you're going to actually see all of the new listings, everything that has been placed on the market for sale, not just open houses, but everything.
• 1:08
  SPEAKER_00: You'll see all of those here.
• 1:10
  SPEAKER_00: And you can gauge this if you have an agent that's sending you listings from the multiple listing service, like coming soon, because we do have quite a few of those that are listed as coming soon.
• 1:21
  SPEAKER_00: We have 13 of those currently as of this morning.
• 1:24
  SPEAKER_00: What time is it?
• 1:25
  SPEAKER_00: 7.15 a.m.
• 1:26
  SPEAKER_00: So that's what's happening on the coming soon realm.
• 1:29
  SPEAKER_00: But if you have an agent and they're sending you properties, you'll be able to double check those here, Santa Clarita Openhouses.com.
• 1:35
  SPEAKER_00: These are all the newest listings, and it populates this way on purpose.
• 1:38
  SPEAKER_00: What I've also done though is I've been able to make it so you can actually change it.
• 1:44
  SPEAKER_00: So let's say you're looking for a better deal on real estate.
• 1:47
  SPEAKER_00: How would you do that?
• 1:48
  SPEAKER_00: Well, you would click on oldest to newest, and then these are properties that have been on the market the longest.
• 1:54
  SPEAKER_00: Then you look at them and then you look for any kind of a price reduction.
• 1:58
  SPEAKER_00: Here's an example.
• 1:59
  SPEAKER_00: This one here took a dip of$3.1,000.
• 2:03
  SPEAKER_00: But the rest of these haven't.
• 2:04
  SPEAKER_00: So something to look at, maybe these would be a better than average deal.
• 2:09
  SPEAKER_00: This one was dropped$30,000, so they probably won't be entertaining another price reduction for a while, but it does show motivation, not to the seller's detriment.
• 2:18
  SPEAKER_00: But that's just kind of the way properties work.
• 2:21
  SPEAKER_00: When properties have been on the market at least 30 days, typically that's a good time for the seller to actually engage in discussions with their agent regarding a price reduction or some kind of price modification.
• 2:35
  SPEAKER_00: That's important to do because the property's not moving.
• 2:38
  SPEAKER_00: And depending on the market trend, if it's taking you four or five months to sell real estate, well, it's a different dynamic.
• 2:44
  SPEAKER_00: But if it's taking, you know, 30 days to 45 days and you've been on the market 60 days and you're not seeing that kind of activity that you want, then that's probably the next best thing to do, which would be to do some kind of a price modification or reduction.
• 2:58
  SPEAKER_00: All right, so there's that news.
• 2:59
  SPEAKER_00: I just a little bit about Santa Clarita Openhouses.com.
• 3:03
  SPEAKER_00: In addition to that, just to give you an idea, what I did is I pulled in a lot of information here regarding what's happening on the market.
• 3:12
  SPEAKER_00: And let me see if I can find that once again, because I did get a lot of information here as I'm publishing publishing the uh the website data.
• 3:23
  SPEAKER_00: So right now we have that 57 properties did go pending.
• 3:27
  SPEAKER_00: Of those properties, when we look at the real estate dynamics right now, we're not seeing where we're getting digging into the actual sales prices.
• 3:36
  SPEAKER_00: Those properties aren't reducing.
• 3:38
  SPEAKER_00: We don't see that here as a trend here in Southern California and at least in Santa Clarita Valley.
• 3:43
  SPEAKER_00: We don't have a lot of inventory.
• 3:45
  SPEAKER_00: The inventory we have is 772.
• 3:47
  SPEAKER_00: We were at 750 yesterday, so we have an uptick of what is that, uh 50, that's 22 listings.
• 3:54
  SPEAKER_00: But again, that's nothing to be to change any kind of real estate strategy.
• 4:00
  SPEAKER_00: We don't see listings moving very quickly either.
• 4:03
  SPEAKER_00: That's because we just finished the school season and now we're into the fall.
• 4:07
  SPEAKER_00: Holidays are coming up, so real estate's going to start to slow down just a little bit.
• 4:11
  SPEAKER_00: Something to consider when you are looking for residential real estate.
• 4:15
  SPEAKER_00: And if you have talked to your lender, we're at a 10-month low for interest rates.
• 4:19
  SPEAKER_00: If you haven't talked to them and discussed where that puts you, then I would reach out.
• 4:24
  SPEAKER_00: In addition, some people are out there starting to get involved in this refinance market.
• 4:29
  SPEAKER_00: Maybe they bought 10 months ago, and the a the uh lenders are calling them the ones that you use to get your mortgage, and they're saying, hey, listen, you know, interest rates came down.
• 4:38
  SPEAKER_00: You should think about refining.
• 4:39
  SPEAKER_00: You got to see what those numbers look like.
• 4:41
  SPEAKER_00: Don't just jump into a refinance.
• 4:43
  SPEAKER_00: Even though you've only been paying, let's say, 10 months on your mortgage, that end of it might be okay.
• 4:49
  SPEAKER_00: And that's what I mean is if you've been paying 15 years on your mortgage, you want to do a refinance.
• 4:53
  SPEAKER_00: Now all of a sudden you have another 30-year term if that's what the mortgage amount would be.
• 4:58
  SPEAKER_00: Maybe that's not worth it if that makes sense.
• 5:00
  SPEAKER_00: But 10 months, not a big deal.
• 5:02
  SPEAKER_00: But what is it going to cost you to get that lower interest rate?
• 5:06
  SPEAKER_00: What does that number look like?
• 5:08
  SPEAKER_00: That's the question you need to ask.
• 5:10
  SPEAKER_00: The time frame on how long you've been paying your mortgage, 10 months is nothing.
• 5:15
  SPEAKER_00: Out of a 30-year mortgage, you're just going to be starting over.
• 5:18
  SPEAKER_00: You're going to have an extra 10 months to pay if you do a refinance.
• 5:21
  SPEAKER_00: You got to see if the value's there for then you just pencil out and factor out what exactly the savings are going to be and see how long, after all the charges, how long it's going to take you to recoup that loss.
• 5:34
  SPEAKER_00: And then you have to ask yourself, huh, I wonder how long I'm going to live here.
• 5:38
  SPEAKER_00: Am I going to, am I one of those people that's going to stick in this property for the rest of my life?
• 5:42
  SPEAKER_00: Or am I going to have a like a four-year exit strategy or a seven-year exit strategy, and then see how long it's going to take you?
• 5:50
  SPEAKER_00: If you're going to have a four-year exit strategy, but it's going to take you 10 years to make up for whatever cost savings you're going to get on a refinance, factoring in both length of mortgage and the costs, what those fees happen to have been when you did the refinance, then it doesn't make any sense if that's going to be, if you're not going to even get to the savings portion of it.
• 6:10
  SPEAKER_00: But if it's only going to take you a couple years to get to the savings portion, you have, let's say, a four-year strategy to exit California.
• 6:17
  SPEAKER_00: Well, you might be all right.
• 6:18
  SPEAKER_00: But you got to do all these numbers.
• 6:20
  SPEAKER_00: Don't just get caught up because you have your lender calling you and saying, hey, got a great deal for you.
• 6:25
  SPEAKER_00: You know, yeah, I know a lot of people have a great deal for you.
• 6:28
  SPEAKER_00: Just be careful with that.
• 6:29
  SPEAKER_00: All right, so look at everything at Santa Clarita Open Houses.
• 6:33
  SPEAKER_00: You'll be able to see everything there.
• 6:34
  SPEAKER_00: Also, every day I do a good blog post.
• 6:37
  SPEAKER_00: I talk about this.
• 6:38
  SPEAKER_00: This is put up here, and we talk about what's happening in the real estate market.
• 6:42
  SPEAKER_00: So feel free to go here and have a look at all of these as well.
• 6:46
  SPEAKER_00: You'll get good information.
• 6:47
  SPEAKER_00: And with regard to any listing, just to throw this out here, I have a full workup with regard to everything that's on the market.
• 6:54
  SPEAKER_00: So just for an example, if we click on one of the newest listings that's placed on the market for sale, you can actually scroll down on the listing.
• 7:02
  SPEAKER_00: Let me make my uh head not as pronounced.
• 7:05
  SPEAKER_00: Give me just one second.
• 7:06
  SPEAKER_00: Boom.
• 7:07
  SPEAKER_00: All right, so we come down here and you'll see the way the uh strategies add up.
• 7:12
  SPEAKER_00: We have the estimated monthly payments, home insurance, property tax.
• 7:16
  SPEAKER_00: This one doesn't happen to have HOA, but that'll usually be populated here.
• 7:20
  SPEAKER_00: And then this is where you get the market report.
• 7:22
  SPEAKER_00: It's been very flat, of course, you can see, but you can get an idea of what's happened in that particular market to get a gauge as to where real estate happens to be trending, and this happens to be in Castac.
• 7:33
  SPEAKER_00: And then, of course, yours truly, reach out.
• 7:35
  SPEAKER_00: And then, of course, similar listings are going to be here as well.
• 7:38
  SPEAKER_00: SantaClarita, openhouses.com.
• 7:41
  SPEAKER_00: I don't require any registration.
• 7:42
  SPEAKER_00: I do know that a lot of the systems out there do.
• 7:45
  SPEAKER_00: I also have my uh AI chat bot here.
• 7:47
  SPEAKER_00: You can ask information about real estate listings and properties and see uh see what information you can find.
• 7:54
  SPEAKER_00: But of course, ultimately, it would be best if we had a discussion.
• 7:59
  SPEAKER_00: You can go to zoomemescv.com, zoomme scv.com, and I'll be able to you'll be able to get on my calendar, and we can have a talk about what you're planning on doing in real estate and whether that's a sound strategy, and then we can develop a game plan from there.
• 8:12
  SPEAKER_00: I'm Connor with honor.
• 8:14
  SPEAKER_00: I will see you in the next one.
• 8:15
  SPEAKER_00: Thank you so much for watching.
• 8:16
  SPEAKER_00: And uh don't forget to tell a friend.
• 8:19
  SPEAKER_00: Be well.
• 8:19
  SPEAKER_00: We'll see you.
• 8:20
  SPEAKER_00: See you soon.
• 8:20
  SPEAKER_00: Bye.