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The emotional component of Santa Clarita real estate, selling and buying homes and real estate · Connor with Honor: AI, Real Estate and Real Life

• 0:02
  SPEAKER_00: Just something off the wire this morning talking about the emotional and non-financial benefits of home ownership.
• 0:08
  SPEAKER_00: And the article reads this way With higher mortgage rates, you might be wondering if now is the best time to buy a home.
• 0:15
  SPEAKER_00: While the financial aspects are important to consider, there are also powerful non-financial reasons it may make sense to make a move.
• 0:22
  SPEAKER_00: Here are just a few of the benefits that come with home ownership, and then it's going to explain some of the benefits.
• 0:27
  SPEAKER_00: So let's get into that.
• 0:28
  SPEAKER_00: Homeowners can make their home truly their own, and it says owning your home gives you a significant sense of accomplishment due to its space.
• 0:36
  SPEAKER_00: You can customize your heart's desire.
• 0:38
  SPEAKER_00: That can bring you happiness.
• 0:40
  SPEAKER_00: Can you do that with a rental?
• 0:41
  SPEAKER_00: Probably to a point, but maybe not as evasive, if you will.
• 0:46
  SPEAKER_00: In fact, a report from the National Association of Realtors, or NAR, shows making updates or remodeling your home can help you feel more at ease and comfortable in your living space.
• 0:56
  SPEAKER_00: National Association of Realtors measures this with a joy score that indicates how much happiness specific home upgrades bring in.
• 1:04
  SPEAKER_00: According to the National Association of Realtors, and now I'm quoting, there were numerous, numerous interior projects that received a perfect joy score of 10.
• 1:13
  SPEAKER_00: Paint entire interior of home, paint one room of home, and add a new home office, hardwood flooring refinish, a new wood flooring, closet renovation, insulation upgrade, and attic conversion to living area.
• 1:29
  SPEAKER_00: Who would have thought?
• 1:30
  SPEAKER_00: End quote.
• 1:31
  SPEAKER_00: And of as in a homeowner, unless there are specific homeowners association requirements, you typically won't have to worry about changes you can and can't make.
• 1:40
  SPEAKER_00: If you rent, you may not have the same freedom.
• 1:43
  SPEAKER_00: As we discussed, and if you make changes as a renter, there's a good chance you'll need to revert them back at the end of your lease based on your rental agreement.
• 1:52
  SPEAKER_00: That can add additional costs when you move out, so these are things to know.
• 1:56
  SPEAKER_00: The responsibilities of homeownership give you a greater sense of achievement.
• 2:00
  SPEAKER_00: There's no denying taking care of your home is a large responsibility, but it's one you take in pride as a homeowner.
• 2:06
  SPEAKER_00: And as Freddie Mack explains, and I quote, as the homeowner, you have the freedom to adopt a pet, paint the walls any color you choose, renovate your kitchen, and more.
• 2:16
  SPEAKER_00: Of course, along with the freedoms of homeownership come responsibilities, such as making your monthly mortgage payments on time, and maintaining your home.
• 2:24
  SPEAKER_00: But as the property owner, you'll be caring for your own investment.
• 2:28
  SPEAKER_00: End quote.
• 2:39
  SPEAKER_00: And of course, homeownership can lead to greater community engagement, and that's very true.
• 2:43
  SPEAKER_00: The sense of homeownership and your feelings of responsibility can even extend beyond the walls of your home.
• 2:49
  SPEAKER_00: Your home also gives you a stake in your community.
• 2:52
  SPEAKER_00: Because the average homeowner stays in their home for longer than just a few years, this can lead to having a stronger connection to your local area.
• 3:00
  SPEAKER_00: National Association of Realtors notes how this can benefit you, and I quote, living in one place for a longer amount of time creates an obvious sense of community pride, which may lead to more investment in said community.
• 3:14
  SPEAKER_00: End quote.
• 3:15
  SPEAKER_00: If you're looking to put down roots, homeownership can help fuel a sense of connection to the area around you.
• 3:20
  SPEAKER_00: Bottom line, if you're planning to buy a home this year, there are incredible benefits waiting for you at the end of your journey, including the ability to customize your home, the sense of achievement home ownership brings, and a greater connection to your community.
• 3:33
  SPEAKER_00: Connect with a local real estate professional to discuss everything home ownership has to offer.
• 3:38
  SPEAKER_00: Very good article, very well written, and I'm glad to have came across it and be able to provide it to my clients, the Connor with Honor folks out there listening.
• 3:46
  SPEAKER_00: But when is the market good to be able to purchase?
• 3:50
  SPEAKER_00: Interest rates are close to seven and above.
• 3:53
  SPEAKER_00: So the word on the street is you're marrying your home, you're not going to marry your interest rate.
• 3:58
  SPEAKER_00: So the interest rates, if and when they come down, then you refinance.
• 4:02
  SPEAKER_00: Well, of course, that makes sense.
• 4:04
  SPEAKER_00: Are they going to come down?
• 4:06
  SPEAKER_00: That's the question of the day.
• 4:07
  SPEAKER_00: And if they do, when?
• 4:09
  SPEAKER_00: And are properties going to continue to adjust in price?
• 4:12
  SPEAKER_00: We have seen reductions out there 5 to 8%.
• 4:16
  SPEAKER_00: It could be going more, but it's going to depend.
• 4:18
  SPEAKER_00: I believe right now the real estate market in Santa Cruita Valley, Semi Valley, while things are still moving, buyers are still buying, sellers are still selling.
• 4:27
  SPEAKER_00: We are seeing a definite slowdown in all those respective areas of the real estate process.
• 4:32
  SPEAKER_00: One of the things I will tell you, I do have a fantastic newsletter.
• 4:35
  SPEAKER_00: I do keep my folks updated with my Connor with Honor videos about real estate.
• 4:39
  SPEAKER_00: You're more than welcome to tune in and listen and watch.
• 4:43
  SPEAKER_00: I hope everybody is well.
• 4:44
  SPEAKER_00: Today is, of course, October 18th, 2022.
• 4:49
  SPEAKER_00: Had to check, right?
• 4:50
  SPEAKER_00: And I am Connor with Honor.
• 4:52
  SPEAKER_00: Have a fantastic day.
• 4:53
  SPEAKER_00: If you're looking to buy or sell real estate or know somebody that is, don't forget me.
• 4:57
  SPEAKER_00: I am known as Connor with Honor.
• 4:59
  SPEAKER_00: And I do represent people in the buying, selling, and investing in real property.
• 5:03
  SPEAKER_00: All of it.
• 5:04
  SPEAKER_00: You'll be safe, and we'll talk to you very soon.