Latest / Connor with Honor: AI, Real Estate and Real Life / What a Trump Presidency means for Santa Clarita real estate

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What a Trump Presidency means for Santa Clarita real estate · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Everybody, today's November 6th, 2024.
• 0:02
  SPEAKER_00: I'm Connor with Honor.
• 0:04
  SPEAKER_00: Welcome to today's show.
• 0:05
  SPEAKER_00: Just to let you know, I have 527 active residential real estate listings that need to be sold.
• 0:11
  SPEAKER_00: They're all throughout Santa Clarita Valley, each of the cities.
• 0:14
  SPEAKER_00: You can find every one of those at Santa Clarita Openhouses.com.
• 0:18
  SPEAKER_00: That's my website.
• 0:19
  SPEAKER_00: It's completely unlocked.
• 0:20
  SPEAKER_00: You don't have to panic about anybody selling or trading any personal information if you happen to want to introduce yourself to me to be your agent to talk to you about the market and to work through those various processes it takes to be able to buy or sell real estate in this present market.
• 0:37
  SPEAKER_00: 527 current active listings on the market for sale.
• 0:41
  SPEAKER_00: So right now, seven-day snapshot.
• 0:43
  SPEAKER_00: This is what's occurred.
• 0:44
  SPEAKER_00: We do have a new president.
• 0:45
  SPEAKER_00: He will be inaugurated here in January.
• 0:48
  SPEAKER_00: That to some people is fantastic news.
• 0:50
  SPEAKER_00: To other people, it's horrible news.
• 0:52
  SPEAKER_00: But we're all going to need whomever is in the horrible news category.
• 0:56
  SPEAKER_00: We're all going to need to just be a little patient and embrace the change.
• 1:02
  SPEAKER_00: That's just the way it works with whomever was going to be in office.
• 1:06
  SPEAKER_00: So that's my advice to that.
• 1:08
  SPEAKER_00: Let's talk about real estate.
• 1:09
  SPEAKER_00: I do know that this election more than likely is going to really kick off the economy and start things moving forward.
• 1:14
  SPEAKER_00: We're probably going to see some interest rate bumps in the in the here in the next few months.
• 1:19
  SPEAKER_00: So right now, when real estate is a little slower and a little stagnant, maybe now's a smarter time to jump in before the market gets super heavy this next year.
• 1:32
  SPEAKER_00: And we will see that once we get this extra inventory coming onto the market, maybe not so much extra, but added inventory as people typically do, as we get into the first part of the year, then we're going to see a lot more competition.
• 1:45
  SPEAKER_00: And people are going to be waiting until interest rates drop instead of buying now.
• 1:49
  SPEAKER_00: Then the market's a little bit more simple and a little bit more slow and a little bit more relaxed pace, and then maybe doing a refinance in the future.
• 1:57
  SPEAKER_00: Again, totally your call, but I do know that this market is much more of a shot collar type market.
• 2:04
  SPEAKER_00: In the future, you're going to be competing with so many other people.
• 2:07
  SPEAKER_00: It could create a lot of stress and anxiety.
• 2:11
  SPEAKER_00: And that's really all anybody needs right now.
• 2:13
  SPEAKER_00: Coming soon listings in the past seven days, three have been focused.
• 2:16
  SPEAKER_00: If you want to see those, my website, Santa ClaritaOpenhouses.com, it does require that I actually send them to you directly via email.
• 2:25
  SPEAKER_00: I can send those to you for all of the Santa Clarita Valley cities.
• 2:29
  SPEAKER_00: It's not a huge amount, so it's not going to be too shocking to get.
• 2:33
  SPEAKER_00: If you want to get it as soon as they're posted, I'm more than happy to do that for you.
• 2:37
  SPEAKER_00: And I'll send those directly to your email.
• 2:39
  SPEAKER_00: And you just choose the city or say all of Santa Clarita, San Fernando Valley, or whatever it may be.
• 2:45
  SPEAKER_00: But I'm more than happy to take care of that.
• 2:47
  SPEAKER_00: All right, new listings that have entered the market in the last seven days, 54.
• 2:50
  SPEAKER_00: So people are still selling houses.
• 2:52
  SPEAKER_00: Price changes 61.
• 2:54
  SPEAKER_00: That's a moderate number.
• 2:55
  SPEAKER_00: That's about where they have been for the last few weeks.
• 2:58
  SPEAKER_00: We did see a 90 in some cases, and in some cases, almost a hundred price changes with a majority of those reductions in listing price.
• 3:06
  SPEAKER_00: Back on market properties 19, these are properties that have come back for sale again, maybe giving buyers a second uh a second ball.
• 3:13
  SPEAKER_00: We do have active under contract properties 26, gone into escrow.
• 3:17
  SPEAKER_00: So if those do make it and those don't bomb and come back on the market, those will be new homeowners in properties that are new to them the first time.
• 3:26
  SPEAKER_00: So it's very exciting news.
• 3:27
  SPEAKER_00: 41 properties have gone pending, 16 properties have closed, actually sold in this last week, 13 properties expired, 17 cancel, nine hold, four withdrawn.
• 3:37
  SPEAKER_00: 17 canceled, that's a different variable than we've seen lately.
• 3:42
  SPEAKER_00: 17 sellers that have had their houses on the market have canceled those listings.
• 3:47
  SPEAKER_00: Question is why would that be?
• 3:48
  SPEAKER_00: Why would sellers be canceling at this particular time in the real estate market?
• 3:53
  SPEAKER_00: Some of them are probably a little bit panicked.
• 3:55
  SPEAKER_00: They probably saw a very slow market previous to the election.
• 4:00
  SPEAKER_00: Now that the election took place, I would imagine that the stock world is going to go crazy.
• 4:06
  SPEAKER_00: In addition to that, we're probably going to see the banks because the fiscal outcomes are probably going to be better for them with this, the the elected president, I would guess.
• 4:17
  SPEAKER_00: If that in fact happens and the economy does approve, as everybody considers it may be improving, then we're probably going to see more of a relaxation in bank rate as far as the rate the regular mortgages are written at.
• 4:31
  SPEAKER_00: Something to watch.
• 4:33
  SPEAKER_00: And if that's the case, if that's going to kick off housing and start housing moving faster by lowering the interest rate, which is always the projection, especially with the high buyer drive we have, that high competition factor next year is going to be a little bit, a little bit difficult.
• 4:51
  SPEAKER_00: Now, if you're a home buyer that has all the advantage, let's say you're at least 20% down, maybe 50% down, using a conventional loan, maybe using a lender that's able to close something in two or three weeks.
• 5:04
  SPEAKER_00: And realistically, you know a lot about real estate, you understand the inspection cycle, the contingency time frames, you're able to maybe modify and adjust those.
• 5:13
  SPEAKER_00: And I know with certain sellers that are incredibly savvy and have done it many times, they relax and they heed a lot of good advice that I've been gleaning from real estate in my knowledge since 1998.
• 5:24
  SPEAKER_00: So when I inform them that we're able to get inspections done maybe in a two or three-day time frame, get a request for repair formulated if it's in fact even needed by day five, get that over to the seller, hopefully get a response rather quickly, but not hinging the entire transaction on whether or not the seller is going to fulfill that request for repairs, then we are golden in some cases, and that buyer is able to have a lot more advantage than somebody that might be coming down with less amount and needing 30 to 45 days to close.
• 5:54
  SPEAKER_00: There's advantage there, something to consider.
• 5:57
  SPEAKER_00: We'll be back tomorrow with another real estate update.
• 6:00
  SPEAKER_00: I'm Connor with Honor.
• 6:01
  SPEAKER_00: When you're ready, reach out.
• 6:02
  SPEAKER_00: I would love to talk to you.
• 6:03
  SPEAKER_00: And again, 527 listings that I need to sell.
• 6:07
  SPEAKER_00: Hit me up if you want to see any of those all across Santa Crita Valley.
• 6:11
  SPEAKER_00: You can see all of them at Santa Clarita Openhouses.com.
• 6:15
  SPEAKER_00: I appreciate you watching.
• 6:16
  SPEAKER_00: We'll talk to you soon.
• 6:17
  SPEAKER_00: Take care.