Latest / Connor with Honor: AI, Real Estate and Real Life / A prepared home seller and home buyer will make less mistakes when buying or selling Santa Clarita real estate late 2024
Transcript
- 0:00good morning Santa Clarita I am Connor MacIVOR Connor with honor with SantaClaritaopenhouses.com this is your daily real estate update currently I've been doing some research pulling the numbers from this morning 474 total active listings on the market for sale across all of Santa Clarita Valley breaking that down into seven days of market activity we have five properties coming soon 82 new listings I've entered the market the past seven days that has been typical over the past four and a half weeks 76 properties have had their prices changed a majority of these over 90% are actually reductions in listing price so that's something to watch out for I don't believe that trend is going to catch on and continue into the future because if interest rates stay steady or calm down a little bit we're still going to have this robust market if in fact we have the same inventory but interest rates drop considerably then we're gonna see a repeat of the market that we had back in 2020 and 2021 and 2022 when properties were really going for much higher than their listing price where buyers were willing to give up the appraisal and in addition give up certain considerations and also give up some way some time contingencies and also inspections so there are a lot of sacrifices made on the buyers end in order to be competitive with other buyers if you're going to be in that kind of a market it is not for the weary definitely you wanna make sure that you muscle up with a proper realtor and make sure that everything is covered and of course everything's explained back on market properties 23 active on active under contract property 33 pending 55 53 closed this past week 3 expired 11 cancelled 7 put on hold and 3 have been withdrawn from the market in the very near future there's gonna be more changes to the California contracts that involve real estate from the California Association of Realtors and that is because of a lawsuit that had taken place now we're going to see the commission concession structures change where even though from the beginning it's been purported I've been in real estate since 98 sellers had a choice as to how much they were going to pay but they had to pay something now in this particular circumstances sellers pay what they want to their agent and then the buyer pays what they want to their agent or maybe they consider or ask the seller for a consideration to pay their agent to help them find or buy that seller's residence that's where the market is currently and if that's about as clear as MUD you can find out more information at Santa Cledo openhouses.com forward slash blog I've been talking a lot about this lately on my personal site SantaClaritaopenhouses.com and that's because I believe it helps to have that local resource you can go to to try to wrap your mind around any real estate changes that are occurring but you're gonna have to find that local level expert and not those online syndication systems because they're pulling data from all over the place and who knows who's writing that content I Connor MacIvor I hope your week is fantastic we'll be back tomorrow it'll be tumultuous Tuesdays which is difficult to say and I appreciate you watching this market is exciting ladies and gentlemen the best way to approach it is of course to have the best advice you can if you are looking to sell and interest rates come down as purported to be coming down and they've been saying this for a while now so don't get your hopes built up and whatever you do do not purchase real estate predicated on promises and opinions about changes in the market however it is interesting to talk about to best prepare you just in case the interest rates do come down into the Forza high or low fives you'll know what to do if in fact that happens as sellers and buyers I've Connor with honor be well thanks for watching today's show and I'll be back tomorrow please share we'll talk to you soon Connor Macivor over and out