Latest / Connor with Honor: AI, Real Estate and Real Life / Saugus CA - Santa Clarita price reductions in real estate this Thanksgiving week 2024 abound

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Saugus CA - Santa Clarita price reductions in real estate this Thanksgiving week 2024 abound · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: One little article on how somebody asked me who I voted for, and being honest, it's an entire litany of people that are very angry at my presidential selection.
• 0:12
  SPEAKER_00: And no apologies.
• 0:14
  SPEAKER_00: That's I have never had so many comments on a video.
• 0:18
  SPEAKER_00: Alright, so let's talk about Saugas, California.
• 0:20
  SPEAKER_00: Saugas, California, one of the cities located in the Santa Clarita Valley.
• 0:24
  SPEAKER_00: It is part of my weekly presentation talking about each one of the different cities in Santa Clarita Valley.
• 0:31
  SPEAKER_00: Today, of course, is Saugas.
• 0:32
  SPEAKER_00: We're at November 27th, 2024, 332nd day of the year.
• 0:37
  SPEAKER_00: And of course, this week is 48th of 2024, and we are in the week of Thanksgiving.
• 0:43
  SPEAKER_00: Happy Thanksgiving to everybody.
• 0:45
  SPEAKER_00: Hopefully that will continue.
• 0:46
  SPEAKER_00: As one of the people that commented said, because of the new president, hopefully that will continue.
• 0:51
  SPEAKER_00: We'll have Thanksgiving next year and not be in World War III.
• 0:55
  SPEAKER_00: So there's that.
• 0:56
  SPEAKER_00: Good day, everybody.
• 0:57
  SPEAKER_00: I wanted to talk about Saugus, California, but first let me give you the entire Santa Clarita Valley overview.
• 1:03
  SPEAKER_00: For all of this information, Santa ClaritaOpenhouses.com.
• 1:06
  SPEAKER_00: We'll have all of it.
• 1:07
  SPEAKER_00: I will post up the blog post that will have all of the current data for today.
• 1:12
  SPEAKER_00: As far as everything in Santa Clarita Valley that's been going on during these past seven days, we have three properties that are coming soon.
• 1:19
  SPEAKER_00: 37 properties are new on the market.
• 1:21
  SPEAKER_00: 46 properties have had their prices changed.
• 1:24
  SPEAKER_00: 16 properties have gone back on the market.
• 1:27
  SPEAKER_00: Let me back up a little bit.
• 1:29
  SPEAKER_00: The 46 properties that have had their prices changed, that's a huge number.
• 1:33
  SPEAKER_00: That's more than we've been watching lately have their prices change per week.
• 1:37
  SPEAKER_00: Usually the numbers in the 20s or the 30s, now we're up around 46.
• 1:42
  SPEAKER_00: That is big, and those property are actually, those price changes are reductions in the listing price, almost 95% of those.
• 1:51
  SPEAKER_00: So there are sellers reacclimating to this market.
• 1:54
  SPEAKER_00: We're in the holiday time and the market slowing down.
• 1:57
  SPEAKER_00: They want to get their properties sold.
• 1:59
  SPEAKER_00: Back on market properties 16, active under contract properties 19, sales 30, closed sales 64, five properties expired, 11 canceled, 14 have been put on hold, seven have been withdrawn from the market.
• 2:10
  SPEAKER_00: Now down into Saugus, California, we're going to talk about that specifically.
• 2:16
  SPEAKER_00: So of all those numbers, we had one property posted coming soon, nine new listings this past week.
• 2:22
  SPEAKER_00: Six properties have their prices changed.
• 2:24
  SPEAKER_00: Five properties have bailed to complete escrow and come back on the market.
• 2:27
  SPEAKER_00: Four properties are active under contract.
• 2:29
  SPEAKER_00: Two have gone pending, 11 closed, one property expired, three canceled, none have been put on hold, none have been withdrawn.
• 2:36
  SPEAKER_00: So Saugus is going to be very reflective of the overall Santa Clarita Valley market with 11 closed sales and a steady flow of new listings.
• 2:46
  SPEAKER_00: The market's very balanced.
• 2:48
  SPEAKER_00: As far as sold properties, what I did is I put in the last 100 days of sold real estate listings and kind of give us an idea where the reason why sold properties, it's important to talk about those, they've already been fully vetted.
• 3:01
  SPEAKER_00: They've had appraisers, appraisals on most of them because most of them require financing.
• 3:06
  SPEAKER_00: You're going to see a cash buyer here, a cash buyer there.
• 3:09
  SPEAKER_00: More than likely, most cash buyers aren't going to have the property appraised.
• 3:13
  SPEAKER_00: In some circumstances, they can, and you as sellers should watch out for that.
• 3:18
  SPEAKER_00: Because if you get a cash buyer, sometimes agents miss that little box that say this seller's or this buyer's offer, albeit all cash, is also dependent on the property appraising.
• 3:30
  SPEAKER_00: So don't get too excited that it's going to be cash and you're going to be able to walk away without having anybody vet that listing price that you're setting for your properties.
• 3:39
  SPEAKER_00: But your agent should be able to run that down and make sure that you understand that before you've accepted any offer coming in or started your negotiation on that.
• 3:49
  SPEAKER_00: So looking at the sold properties, we have the median sold price in Saugus around$785,000.
• 3:55
  SPEAKER_00: Days on market properties are averaging 32 days on market.
• 4:00
  SPEAKER_00: This is definitely indicating strong buyer interest.
• 4:02
  SPEAKER_00: Properties aren't taking long to sell.
• 4:04
  SPEAKER_00: As far as price reductions, about 20% of the properties in Saugus, California when they were put on the market for sale, experience a price adjustment before selling.
• 4:13
  SPEAKER_00: And it's going to depend on how long it's been on the market, motivation of the seller, as to how many price reductions or changes that property is going to encounter.
• 4:24
  SPEAKER_00: In this case, it's been quite a few, and we see that indicative of this market in Santa Clarita Valley in this time.
• 4:31
  SPEAKER_00: Now, single-family residences were dominant in the sales in Saugus, prices ranging from$750,000 to$1.2 million.
• 4:39
  SPEAKER_00: Townhomes, we have quite a few of those in Saugus as well.
• 4:42
  SPEAKER_00: Those were selling between$450,000 and$650,000.
• 4:44
  SPEAKER_00: Those offer affordability and convenience.
• 4:47
  SPEAKER_00: Condos,$400,000 to$500,000.
• 4:49
  SPEAKER_00: And again, ideal for first-time buyers.
• 4:52
  SPEAKER_00: With all of these properties, the newer properties could carry mellow roos tax and special assessments before you get tied into thinking that your tax base is going to be what it normally is for the rest of Los Angeles County.
• 5:05
  SPEAKER_00: And that floats around 1.25% of the value of the home, which when you buy it, that's going to be the new value of the home.
• 5:14
  SPEAKER_00: You can fight that with the tax assessor, but you have to provide them information showing there was a decline or the property's not worth that much.
• 5:22
  SPEAKER_00: That being the case, make sure going in that you know what these extra fees are going to be.
• 5:28
  SPEAKER_00: One of the things I talk to my buyers about quite frequently that they don't realize with the homeowners associations, with a lot of properties in the Santa Clarita Valley having homeowners associations on top of them, the important thing to know is how much, well, of course, how much it is per month.
• 5:46
  SPEAKER_00: Does it pay for?
• 5:47
  SPEAKER_00: And then what's included with a homeowners association?
• 5:50
  SPEAKER_00: Is there some kind of enforcement mechanism?
• 5:52
  SPEAKER_00: If your neighbors come home and park an RV in the middle of the road, is there something that the HOA can do to help that?
• 5:59
  SPEAKER_00: What if your neighbor's putting in some massive tree or some massive structure in their backyard besides the city?
• 6:05
  SPEAKER_00: And the city's busy, maybe the HOA is a faster enforcement mechanism.
• 6:09
  SPEAKER_00: And then finally, how much can those dues go up with regard to the homeowners association?
• 6:14
  SPEAKER_00: Could they go up, could they double every year?
• 6:17
  SPEAKER_00: And then would they ever use part of that HOA to pay for some kind of fixing?
• 6:23
  SPEAKER_00: I know that there's been some communities out here in Santa Clarita, primarily Valencia, that have had issues with a contractor that's gone out and supposedly was going to do some work.
• 6:34
  SPEAKER_00: And then all of a sudden this contractor disappears and he takes the suitcase full of money that the HOA paid him and he's in the wind.
• 6:42
  SPEAKER_00: Those issues happen.
• 6:43
  SPEAKER_00: The other thing is sometimes the HOA and the board of directors all get together and vote, and they need only a certain amount of the membership to agree, and in some cases, maybe none of the membership to agree, and they will thereby increase those HOA dues and cause, well, people like us a lot of issues because we're living in a property, we're very happy now.
• 7:06
  SPEAKER_00: All of a sudden, they in their full vetted interest, they believe that, okay, well, we need to have this particular vendor come in, do these particular changes to all of the condominiums in this complex.
• 7:18
  SPEAKER_00: Thereby we're going to have to increase the homeowners association another two or three hundred dollars a month for the next four years to be able to pay for this event.
• 7:28
  SPEAKER_00: You need to find out if this could happen and if it will happen, and at least you'll be able to deduce that from talking to the homeowners association and also reading through the C C and Rs, which are documents that you will get pretty soon within escrow.
• 7:44
  SPEAKER_00: Lots of times I have my buyers call the HOA beforehand to see how nimble they are, what kind of answers they can get over the telephone, and so on.
• 7:53
  SPEAKER_00: But if somebody's telling you something over the phone and they don't back it up in writing and you don't have any documentation as to them actually telling you this, something you could prove in court, then that really didn't happen.
• 8:05
  SPEAKER_00: So you need that.
• 8:06
  SPEAKER_00: So if you're gonna call and get information from them, then I would follow that up with some sort of an email, say, hey, you know, thank you so much, Jackie.
• 8:14
  SPEAKER_00: It's Connor.
• 8:14
  SPEAKER_00: I appreciate your time to speak with me today.
• 8:16
  SPEAKER_00: I was just making sure I understood you correctly.
• 8:19
  SPEAKER_00: Where if I have two pit bulls, I'm okay.
• 8:21
  SPEAKER_00: But if I have four pit bulls and I buy a condo in here, I can't have that many, or whatever your question happens to be.
• 8:29
  SPEAKER_00: But make sure you get that answer.
• 8:31
  SPEAKER_00: God forbid you leave it to your agent to handle.
• 8:34
  SPEAKER_00: Not that they're going to do a bad job on purpose or try to mislead you on purpose, but in some cases, maybe they hurt incorrectly.
• 8:43
  SPEAKER_00: Again, trying to give every excuse possible because I can't believe somebody's going to come into the game to try to deceive someone.
• 8:50
  SPEAKER_00: I got into the whole law enforcement thing being a cop because I didn't want to lie to anybody.
• 8:55
  SPEAKER_00: I wanted to be honest, even if my honesty, like my previous video about who I voted for, even if my honesty turns out to be something that people hate, I still think being honest is better.
• 9:08
  SPEAKER_00: Anyway, please check in, watch out for yourselves.
• 9:11
  SPEAKER_00: Look at Santa ClaritaOpenhouses.com.
• 9:14
  SPEAKER_00: You'll see every single listing there.
• 9:15
  SPEAKER_00: The nice thing about it, it's not lead generation.
• 9:18
  SPEAKER_00: It's also not filled with ads and with other people that once you type in stuff, I don't have the algorithms in place to follow you.
• 9:29
  SPEAKER_00: So if you're inquiring on my site, you're not going to start seeing real estate reflected in your social media, at least as far as looking on my website.
• 9:38
  SPEAKER_00: Once you start talking about it, your phone picks it up.
• 9:40
  SPEAKER_00: Alexa, these other things, everything is listening to us all the time.
• 9:44
  SPEAKER_00: So if you start talking about bathroom tissue, you're going to start seeing that in your social media stream.
• 9:50
  SPEAKER_00: I'm Connor with Honor.
• 9:51
  SPEAKER_00: Let's talk soon.
• 9:52
  SPEAKER_00: I'll be back tomorrow.
• 9:53
  SPEAKER_00: Tomorrow's going to be the New Hall Real Estate update on Thanksgiving.
• 9:57
  SPEAKER_00: We'll break into Canyon Country, Castic, Acton Aquadulce on Sunday, and we'll be back Monday with Valencia.
• 10:03
  SPEAKER_00: I'm Connor with Honor.
• 10:04
  SPEAKER_00: Thanks for watching.
• 10:05
  SPEAKER_00: Have a great Thanksgiving.
• 10:06
  SPEAKER_00: See you soon.