Latest / Connor with Honor: AI, Real Estate and Real Life / Real Estate News Headlines as they pertain to Southern California by the Fat to Fit Realtor 10.04.2023

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Real Estate News Headlines as they pertain to Southern California by the Fat to Fit Realtor 10.04.2023 · Connor with Honor: AI, Real Estate and Real Life

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  SPEAKER_00: Hey everybody, these are the real estate headlines brought to you by Google doing a search real estate news Wednesday, October 4th, 12 15 p.m.
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  SPEAKER_00: I am the Fat to Fit Realtor, Connor McGyver.
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  SPEAKER_00: Sponsor ResultFirst Inman.com, Inman Real Estate News for Realtors and Brokers.
• 0:17
  SPEAKER_00: Deliver success in 2023.
• 0:19
  SPEAKER_00: Leverage real estate market trends and staying ahead of the game.
• 0:22
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• 0:28
  SPEAKER_00: CNN top stories, and I'll click on more news as well.
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  SPEAKER_00: First one through the Business Insider, Zillow.
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  SPEAKER_00: This Falk be a sweet spot for home buyers.
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  SPEAKER_00: Talking about an article I put up on my real estate news sites this morning, talking about how if buyers could time their purchase and time it for the fall or a place in the year, whatever that current market is, however, the dynamic works, wherever that slump happens to be in those real estate markets.
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  SPEAKER_00: Out here in Southern California, because of the way the calendar year is structured, typically we're going to get into our slump sometime during the fall.
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  SPEAKER_00: And that seems to be reflective of most of the United States.
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  SPEAKER_00: But it will just depend on those areas.
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  SPEAKER_00: There could definitely be some outliers.
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  SPEAKER_00: So that's number one.
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  SPEAKER_00: On top of that, about 10% of home listings saw a price cut in this week, ending September 16th, the most since November, according to Zillow.
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  SPEAKER_00: And we're seeing that in our local market as well.
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  SPEAKER_00: We're watching as here in Santa Crita Valley, we are seeing definitely more price reductions than we have in a while with regard to real estate.
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  SPEAKER_00: And of course, the the big news, of course, Trump, Donald Trump real estate insiders question how Trump fraud.
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  SPEAKER_00: Judge valued Mar-a-Lago.
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  SPEAKER_00: This is via CNN about 18 hours ago.
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  SPEAKER_00: Then you have USA Today.
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  SPEAKER_00: Trump's real estate fraud trial begins in New York, what you missed, and DOA talks about Trump fights for real estate empire and civil fraud trial.
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  SPEAKER_00: Oregon Live, 10 most expensive homes sold in Gladstone, Oak Grove.
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  SPEAKER_00: And that's September 25th through October 1st.
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  SPEAKER_00: We do have a house in Portland that's sold for 1.6 million.
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  SPEAKER_00: Tops the list of the most expensive residential real estate sales in Gladstone Oak Grove.
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  SPEAKER_00: Gladstone slash Oak Grove.
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  SPEAKER_00: New York Times is reporting Redfin, the online real estate broker, leaves the National Association of Realtors.
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  SPEAKER_00: I've been talking about this for the last few days, and I believe that there could be some issues that are going to come up because of this severance.
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  SPEAKER_00: And you look at the consumer.
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  SPEAKER_00: If a consumer isn't going to suffer in any way, shape, or form, and even if it's a neutral move, probably wouldn't recommend it.
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  SPEAKER_00: Now, if it's going to be a positive move for the consumers, and this is going to be better for them, and only time will tell, uh, pending litigation, right?
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  SPEAKER_00: Because usually litigation is what comes up as a result of somebody not being happy or not being treated equitably or fairly or whatever.
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  SPEAKER_00: The best term would be well, you have issues with that, something that definitely time will tell.
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  SPEAKER_00: Of course, and the title goes from the New York Times, Redfin, the online real estate broker, leaves the National Association of Realtors.
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  SPEAKER_00: And the brokerage said it require, it would require many of its brokers and real estate agents to cancel their memberships with the National Association of Realtors.
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  SPEAKER_00: Two days ago, that's when I brought it to the attention because that's what I was able to find.
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  SPEAKER_00: Interesting, you know, Redfin is a discount business model.
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  SPEAKER_00: I believe they give buyers back money as well if you use their agents to go through it.
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  SPEAKER_00: Um, this business model's been tried many times in the past, not saying that Redfin isn't going to make it, maybe they will, and good for them.
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  SPEAKER_00: But I've seen a lot of different types of real estate companies come and go.
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  SPEAKER_00: Maybe they were mismanaged, maybe they didn't have the foresight that the founders and people operating RedFed have.
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  SPEAKER_00: I don't know.
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  SPEAKER_00: But typically, when you start discounting things, usually the product deserves back to discount.
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  SPEAKER_00: Usually what happens, sorry for the break there, but usually what happens with discount real estate is that it works, discount companies work great depending on the price point of the product.
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  SPEAKER_00: And then how complicated the product is to sell, to advertise, to represent, to provide service, or what kind of interactions does this thing have with the rest of the world?
• 4:34
  SPEAKER_00: And if we're talking about a pro stock, stocks have some interface teams, or some of the makers manufacture much better stock, or you pay for it, but you get something that's better fine, and there are these teams.
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  SPEAKER_00: There's no different variable pressure on the potential stocks.
• 4:52
  SPEAKER_00: But stocks are the house.
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  SPEAKER_00: So I can see discount stock companies coming in and they work, and then you have discount stores or discount stocks or like Walmart and so on.
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  SPEAKER_00: Those discount arenas or real estate price point alone.
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  SPEAKER_00: It is massive.
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  SPEAKER_00: The programs in order to finance these beans or monetary beans, you know, a 30-year loan.
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  SPEAKER_00: Yeah, there's lots of requirements to be able to fit with that model.
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  SPEAKER_00: Real estate for me, folks, just too to top heavy amount.
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  SPEAKER_00: A little bit of real estate updates from page one, Wednesday, October 4th, and we are closing this off around 12.23 p.m.
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  SPEAKER_00: There's a little break in the middle.
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  SPEAKER_00: I do appreciate everybody listening.
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  SPEAKER_00: And it means the world to me.
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  SPEAKER_00: If you would comment, let me know how I'm doing.
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  SPEAKER_00: And if you know anybody who wants to buy or sell in Santa Creta, California, here I am.
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  SPEAKER_00: Please let me know.
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  SPEAKER_00: Be well, and we'll talk to you soon.
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  SPEAKER_00: I am the Fact to Fit Realtor, Connor with Honor.
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  SPEAKER_00: We'll talk to you later.
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  SPEAKER_00: Bye.