Latest / Connor with Honor: AI, Real Estate and Real Life / Liars in real estate, here is the best way to protect yourself from the ignorant bots and support personnel

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Liars in real estate, here is the best way to protect yourself from the ignorant bots and support personnel · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Good day, everybody.
• 0:01
  SPEAKER_00: Welcome to the 5th of September.
• 0:03
  SPEAKER_00: Good morning, good afternoon, good evening, whenever you're watching this.
• 0:05
  SPEAKER_00: This is going to be your Santa Clarita real estate update.
• 0:08
  SPEAKER_00: Now, looking at the news out there, everybody's talking about interest rates.
• 0:12
  SPEAKER_00: The dips aren't that big right now.
• 0:14
  SPEAKER_00: But if you were looking a few months ago, even as recently as last month, you might want to revisit those new rates with your lender and see if that's going to change your consideration to purchase real estate.
• 0:26
  SPEAKER_00: Purchasing real estate is very personal.
• 0:28
  SPEAKER_00: You need to work out all the numbers before you jump in and then also get an expert's advice.
• 0:34
  SPEAKER_00: Furthermore, if you are looking to get a loan, you should be able to talk to somebody, especially your agent.
• 0:39
  SPEAKER_00: They should be able to give you the intricacies of doing so and the right questions to ask a real estate lender.
• 0:45
  SPEAKER_00: Looking at what's happening, so a lot of times when I do these news every morning, it's Santa Clarita Valley Cities proper.
• 0:54
  SPEAKER_00: Castac, Canyon Country, New Hall Saga, Stevenson Ranch and Valencia, Acton and Aqua Dulce, also considered part of the Santa Clarita Valley.
• 1:02
  SPEAKER_00: All in all total right now, as far as active listings go, 819 total active listings on the market currently.
• 1:10
  SPEAKER_00: I'll give you a quick rundown or an idea as to what that looks like of those listings.
• 1:15
  SPEAKER_00: And these are listings that aren't actually publicized for sale.
• 1:19
  SPEAKER_00: 13 of those are coming soon.
• 1:21
  SPEAKER_00: So if you want to see those, hit up your agent for coming soon listings and they will be able to get you the information.
• 1:26
  SPEAKER_00: If you don't have an agent, you want to see the listings before they hit the market for sale.
• 1:30
  SPEAKER_00: The ones that are slotted as coming soon, go to Santa Clarita coming soon.com.
• 1:36
  SPEAKER_00: That's my system.
• 1:36
  SPEAKER_00: You punch in your information, the cities you're looking for, and the price ranges of these coming soon listings, and I will email them to you once they hit the actual MLS.
• 1:46
  SPEAKER_00: But you won't see those in the public world.
• 1:48
  SPEAKER_00: You won't see those on syndication sites.
• 1:50
  SPEAKER_00: You're not going to see those publicized anywhere else.
• 1:52
  SPEAKER_00: You have to get those emailed to you as long as they're coming soon.
• 1:55
  SPEAKER_00: And that's the agreement that the Board of Realtors has set forth for the coming soon listings to compete with the online syndication sites like Zillows and these others.
• 2:04
  SPEAKER_00: Now, here's something else.
• 2:05
  SPEAKER_00: Zillow is now infused with AI, and I work with AI technology in my business, with Honor Elevate and other systems that I put into place for my real estate clients.
• 2:14
  SPEAKER_00: But Zillow has a cute bot that does its own research and provides information on real estate listings that potentially might fit your criteria after you banter back and forth with her or him.
• 2:25
  SPEAKER_00: I don't know if you can select the voice.
• 2:27
  SPEAKER_00: I've heard a female in that regard, at least somebody that has a lower octave, no higher octave.
• 2:33
  SPEAKER_00: Anyway, I don't want to get in the gender trap here.
• 2:36
  SPEAKER_00: But she does a pretty good job at responding.
• 2:38
  SPEAKER_00: But what she doesn't include and what she doesn't talk about are some very critical parts of the real estate search process.
• 2:45
  SPEAKER_00: For example, does the property have Melaruz or special assessment taxes?
• 2:49
  SPEAKER_00: And in some cases in Santa Clarita Valley, some of those taxes can be incredibly expensive.
• 2:55
  SPEAKER_00: You can pay almost double LA County taxes on a residence that you might buy in Santa Clarita Valley if it happens to have Melaruz.
• 3:02
  SPEAKER_00: What's the HOA look like?
• 3:04
  SPEAKER_00: What's that increase per year?
• 3:06
  SPEAKER_00: Where is this house particularly built?
• 3:08
  SPEAKER_00: Is that an area that might uh have some settling involved?
• 3:12
  SPEAKER_00: Maybe deeper investigations need to happen on the purchasing end.
• 3:16
  SPEAKER_00: What are the intricacies of the neighborhood?
• 3:18
  SPEAKER_00: These are all very important factors that uh an AI bot unfortunately cannot address.
• 3:23
  SPEAKER_00: That's why that consummate real estate professional that knows that area, lives there, works there, breathes there, entertains there, and all that other stuff is incredibly important for you as a real estate buyer, but it is a cute attempt, and I'm sure it's going to get a lot of uh leverage.
• 3:39
  SPEAKER_00: Here's something else.
• 3:40
  SPEAKER_00: Spoke to a cat the other day about window tinting.
• 3:43
  SPEAKER_00: We were going back and forth, and he happened to bring up those AI bots.
• 3:47
  SPEAKER_00: He personally can't stand them.
• 3:48
  SPEAKER_00: He's and he's much younger in the generations.
• 3:51
  SPEAKER_00: He's in his 30s, and he doesn't like to interface with them.
• 3:55
  SPEAKER_00: If he's going to talk to somebody, he would rather talk to a normal human being.
• 3:58
  SPEAKER_00: I get that, but there are a lot of people that don't mind the bot interface and don't mind speaking with them.
• 4:03
  SPEAKER_00: I would just say, whichever your flavor is, at some point you should talk to that professional, you know, verbal to verbal and not through a bot, and find out exactly what you're looking for when it comes to purchasing real estate, because they're going to know a lot more and they're going to be able to transfer you a lot more information than a bot will because they just don't have that data, nor would they unless they're an actual robot on the ground in a 3D world, working in our physical realm, absorbing the information in that regard, showing properties, meeting with listings, meeting with sellers, meeting with buyers, driving them around, having conversations with them.
• 4:37
  SPEAKER_00: That data is invaluable.
• 4:39
  SPEAKER_00: And until they're able to translate that into the physical realm and robotics and those sorts of things, and maybe you're still going to like the flesh or meat sack and not the uh clanker.
• 4:50
  SPEAKER_00: Clanker?
• 4:51
  SPEAKER_00: Clunker?
• 4:51
  SPEAKER_00: Clanker.
• 4:52
  SPEAKER_00: Anyway, I guess that's a racial term for a robot.
• 4:54
  SPEAKER_00: So watch out for that.
• 4:56
  SPEAKER_00: Especially if they become self-aware and start controlling things.
• 4:59
  SPEAKER_00: We we don't want to be accused of calling them names, not at least at this point.
• 5:02
  SPEAKER_00: All right.
• 5:02
  SPEAKER_00: So moving through the rest of the real estate market here, that was the big news.
• 5:07
  SPEAKER_00: In Santa Clarita Valley, 27 million bucks was spent in a in an institutional buy, they bought a self-storage in Santa Clarita.
• 5:16
  SPEAKER_00: $27 million for a 784 unit self-storage facility.
• 5:20
  SPEAKER_00: Um, is that a good deal?
• 5:22
  SPEAKER_00: Don't know, but that is a big chunk of change.
• 5:24
  SPEAKER_00: The return must be there because whenever there are these major purchases like this, you know that they've penciled out all of the factors.
• 5:32
  SPEAKER_00: So it must be, it must be somewhat of a maybe a win-win for those situations.
• 5:37
  SPEAKER_00: Mortgage rates dip, as I mentioned before.
• 5:39
  SPEAKER_00: So you, if you haven't revisited the information with your lender, at least over the last month and maybe even better than two weeks, have a have a look and see if it's going to impact your ability to purchase.
• 5:50
  SPEAKER_00: But as I said, whenever you buy real estate, and I did a massive uh real estate update on this, I did several videos about the entire buying process, the first considerations all the way through the process till you get to closing and actually get the keys.
• 6:03
  SPEAKER_00: And then what happens after that.
• 6:04
  SPEAKER_00: So I put all that together.
• 6:05
  SPEAKER_00: If you want to see that, go to zoommescb.com.
• 6:08
  SPEAKER_00: We'll set up an appointment.
• 6:10
  SPEAKER_00: I'll shoot you those videos.
• 6:11
  SPEAKER_00: You can also find them at santaclaritaopenhouses.com.
• 6:14
  SPEAKER_00: Click on the blog and you'll see all of those particular videos.
• 6:18
  SPEAKER_00: You'll just scroll through and you'll see the steps when it comes to purchasing real estate.
• 6:22
  SPEAKER_00: But be all in, know what that all in payment is, not be all in, but know what your all-in payment is because it's going to come down to affordability per month.
• 6:31
  SPEAKER_00: Even if your lender says, you know what, Connor, you're good at a million bucks.
• 6:36
  SPEAKER_00: As far as financing real estate, that's what you approve for.
• 6:39
  SPEAKER_00: That's great.
• 6:40
  SPEAKER_00: I'm really excited about that.
• 6:41
  SPEAKER_00: But Connor wants to investigate what that payment looks like all in.
• 6:45
  SPEAKER_00: And I'm going to include, let's say I'm looking for a property that has a swimming pool.
• 6:49
  SPEAKER_00: I want to see what that maintenance is going to cost.
• 6:51
  SPEAKER_00: I want to see what the solar lease might include if it happens to have solar panels that are on a lease that I have to try to qualify for or assume.
• 7:00
  SPEAKER_00: And that's a whole nother issue in some cases.
• 7:03
  SPEAKER_00: You need to make sure these leases are transferable.
• 7:05
  SPEAKER_00: And then also they didn't rip off the original homeowner that's now trying to sell the house with a solar lease.
• 7:10
  SPEAKER_00: You got to get those numbers.
• 7:12
  SPEAKER_00: If the solar lease doesn't make sense, if they basically ran them into the dirt or snake oiled them or sold them some BS that just trying to, you know, raise that price and they're not really getting an adequate output from the solar panels.
• 7:26
  SPEAKER_00: That's going to either be a negotiation point for you once you find this out, or it might be a deal breaker for you if, in fact, the solar lease is put together in such a horrible way that it doesn't make any sense financially for you as a real estate buyer to purchase that property with that particular solar lease in place.
• 7:43
  SPEAKER_00: What are the options for the seller in some cases?
• 7:45
  SPEAKER_00: They can have those solar panels removed and transfer them to other properties, but that's that's a that's a tall order.
• 7:53
  SPEAKER_00: I mean, if they really need to get that house sold, that might be an option.
• 7:56
  SPEAKER_00: But you need to understand the lease instead of a lot of buyers go in, they're just happy to have it.
• 8:01
  SPEAKER_00: When they get into the process, though, at some point you're going to have to qualify to assume that lease.
• 8:05
  SPEAKER_00: So those solar panels stay if it's not paid off.
• 8:08
  SPEAKER_00: These are deal breakers in some cases.
• 8:10
  SPEAKER_00: Also, lately I've been talking about insurance.
• 8:12
  SPEAKER_00: So important.
• 8:13
  SPEAKER_00: You need to do that due diligence up front when it comes to insurance, and you should do that maybe even before you write that offer.
• 8:22
  SPEAKER_00: Maybe just make a call.
• 8:24
  SPEAKER_00: You should have your insurance broker or some kind of an insurance agent, just like your real estate agent or lender on speed dial.
• 8:30
  SPEAKER_00: You should be able to get in touch with him quickly.
• 8:32
  SPEAKER_00: Uh, if you're looking for a cat out here, I know several.
• 8:34
  SPEAKER_00: Scott Wilk is one of my favorites.
• 8:36
  SPEAKER_00: He always does a great job for me.
• 8:38
  SPEAKER_00: W-I-L-K, Scott is his first name, S C O T T, good cat.
• 8:42
  SPEAKER_00: Um, you can call him up.
• 8:43
  SPEAKER_00: He'll be able to give you numbers on properties, what these insurances look like.
• 8:47
  SPEAKER_00: He's also a broker, so he pulls on all sorts of different assets, just like in the lending world, mortgage brokers, in some cases, or maybe a better bet than other types of lenders, mainliners, or credit unions.
• 8:58
  SPEAKER_00: Uh, credit unions historically have been good for refinance, but you got to see the numbers.
• 9:02
  SPEAKER_00: You got to see what it's going to cost, how long you've been paying on your mortgage.
• 9:05
  SPEAKER_00: There's a lot of questions to ask in that realm, also.
• 9:08
  SPEAKER_00: So don't just jump into something because somebody says it's a great deal.
• 9:12
  SPEAKER_00: You should at least do a couple different levels of fail-safe checks just to make sure you're not getting screwed.
• 9:16
  SPEAKER_00: And that goes with real estate as well.
• 9:18
  SPEAKER_00: You got a real estate agent that's telling you, telling you a lot.
• 9:21
  SPEAKER_00: And this came up yesterday in our office meeting.
• 9:24
  SPEAKER_00: You want to make sure you do some follow-up with them in writing.
• 9:27
  SPEAKER_00: Don't trust what they say.
• 9:29
  SPEAKER_00: If, and and no offense, all present company, you know, present company excluded, right?
• 9:33
  SPEAKER_00: I'd never lie to anybody.
• 9:34
  SPEAKER_00: But at the end of the day, you need to check anyway.
• 9:37
  SPEAKER_00: Whenever I have a dealing with a client, whenever I call on somebody's behalf, which I try not to do because I try to leave some of these steps in the buyer's hands.
• 9:46
  SPEAKER_00: Because, for example, if they need to have a discussion with the school district to find out if this school happens to be within their kids' purview, they'll be able to go to the school and it's a it's a done deal.
• 9:57
  SPEAKER_00: I need to make follow-ups with that type of investigation.
• 10:00
  SPEAKER_00: Because what if I got that cat working at the school board on their last day that hates the school board, can't stand it, and is looking to get out and just pissed off at everybody and wants to give horrible information.
• 10:10
  SPEAKER_00: I go back to my buyer and say, oh yeah, little Johnny's gonna be just perfect.
• 10:14
  SPEAKER_00: He's gonna be able to go to that particular school.
• 10:16
  SPEAKER_00: Don't worry about it.
• 10:17
  SPEAKER_00: Close escrow, school starts, Connor gets the phone call, Johnny can't go here, he's got to go somewhere else.
• 10:22
  SPEAKER_00: That's a problem.
• 10:23
  SPEAKER_00: So, with that kind of investigation, you want to make a follow-up email.
• 10:27
  SPEAKER_00: Text is okay, but it just doesn't carry the same weight.
• 10:31
  SPEAKER_00: I would keep away from text, although that's something that's now required with regard to documents as they get requested if there's some kind of a lawsuit that occurs within the real estate realm.
• 10:41
  SPEAKER_00: But I would still fire it off in an email and make sure they respond.
• 10:45
  SPEAKER_00: And if they don't respond, you pick up the phone and say, listen, I sent you an email.
• 10:48
  SPEAKER_00: Just wanted to make sure I understood.
• 10:50
  SPEAKER_00: Would you please respond to me?
• 10:51
  SPEAKER_00: And if they don't, then you're gonna have to level it up.
• 10:53
  SPEAKER_00: You're gonna have to go to their boss and their boss's boss and boss's boss's boss's boss, and just continue through that process till you get the right answer.
• 11:00
  SPEAKER_00: All right, so there's that.
• 11:01
  SPEAKER_00: So make sure you verify whatever you're being told.
• 11:04
  SPEAKER_00: If you come to me and I say, Oh, it's gonna be all rainbows and sunshine and unicorns and hugs and kisses all the way through, you're not gonna have to worry.
• 11:11
  SPEAKER_00: I would follow up.
• 11:11
  SPEAKER_00: Hey, Connor, you said this is gonna be all rainbows, sunshine, unicorns, hugs and kisses all the way through.
• 11:16
  SPEAKER_00: Just make sure.
• 11:17
  SPEAKER_00: I know I'm I'm jesting, but you need to follow up with everything if somebody tells you something, just so you understood, just so there's no misunderstanding, because it's your money, right?
• 11:28
  SPEAKER_00: You're making this payment, you work hard for it.
• 11:31
  SPEAKER_00: Again, you don't want to throw it away, and you just want to watch out for yourselves and your family if you happen to have one.
• 11:38
  SPEAKER_00: All right, so moving through all of the process, that's where the real estate news is.
• 11:41
  SPEAKER_00: 819 total active listings as of today, the 5th of September.
• 11:46
  SPEAKER_00: It's 6 57 a.m.
• 11:48
  SPEAKER_00: I'm gonna run back real quick because I'm gonna extract Acton and Aqua Dulce out of the numbers.
• 11:54
  SPEAKER_00: I think we're at 750 something.
• 11:56
  SPEAKER_00: Let me just do that real quick.
• 11:58
  SPEAKER_00: So out of uh Santa Clarita Cities, uh core cities without Acton, Aqua Dulce, 761.
• 12:03
  SPEAKER_00: Why not Acton Aqua Dulce?
• 12:05
  SPEAKER_00: Well, there's no reason.
• 12:06
  SPEAKER_00: They're great cities, they're wonderful to live.
• 12:08
  SPEAKER_00: A little bit more rural than Santa Clarita Valley cities.
• 12:11
  SPEAKER_00: Uh, they're fantastic cities.
• 12:12
  SPEAKER_00: And if you've worked in Santa Clarita Valley proper, Actin and Aqua Dulce properties aren't difficult to sell, but there are some other things.
• 12:20
  SPEAKER_00: You have septic tanks in a lot of cases.
• 12:22
  SPEAKER_00: Um, there could be water storage tanks out there as well.
• 12:26
  SPEAKER_00: It just depends on where the property is, whether it's on city water, not city water.
• 12:30
  SPEAKER_00: Uh, you're gonna see a lot more types of investigations that are gonna need to be done on those properties, especially if it doesn't have a connected sewer, it has a septic tank, there has to be stuff done there.
• 12:40
  SPEAKER_00: If it has um a well, there has to be some kind of gallons flow per minute done, looking at the well and the production.
• 12:47
  SPEAKER_00: But in some cases, you're not gonna find water.
• 12:49
  SPEAKER_00: So those residences happen to be on tanks.
• 12:52
  SPEAKER_00: I think three tiers, 15,000 gallons of water, it gets trucked in.
• 12:56
  SPEAKER_00: So the system, you basically just have water in a tank on your property that feeds the residents, typically placed up at a higher elevation.
• 13:04
  SPEAKER_00: So if you're driving out there and see these large tanks, that's what they usually are.
• 13:08
  SPEAKER_00: The water feeds into the house, and then from there uh it could be split up and and made into gray water, and then the the bad water goes into the uh sewer.
• 13:16
  SPEAKER_00: I forgot what you call that, but the the waste water goes into the sewer.
• 13:20
  SPEAKER_00: But the gray water could be used to plants and and take care of plants and stuff.
• 13:24
  SPEAKER_00: Anyway, there's a lot to know.
• 13:26
  SPEAKER_00: Make sure that you do your investigations and make sure that you're hiring somebody that knows what they're doing.
• 13:31
  SPEAKER_00: You can go to santaclarita openhouses.com to see more information.
• 13:35
  SPEAKER_00: You want to get me on a call, you want to talk about what's happening in the real estate world, zoom me scv.com.
• 13:42
  SPEAKER_00: I'm Connor with honor.
• 13:43
  SPEAKER_00: Uh, thank you for watching.
• 13:44
  SPEAKER_00: We will see you uh tomorrow in the next one.
• 13:46
  SPEAKER_00: It is always my pleasure.
• 13:48
  SPEAKER_00: Be well, Santa Clarita.
• 13:50
  SPEAKER_00: We'll see you tomorrow.
• 13:50
  SPEAKER_00: Bye.