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Crappy Neighbors? I maybe able to prevent that, at least next time! · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Good day everybody.
• 0:00
  SPEAKER_00: I am Connor with Honor.
• 0:02
  SPEAKER_00: Let's talk about real estate.
• 0:03
  SPEAKER_00: Today we're closing out February, February 29th, 2024.
• 0:07
  SPEAKER_00: I'm going to talk about Santa Crita Valley.
• 0:09
  SPEAKER_00: I'm also going to talk about Antelope Valley as well.
• 0:11
  SPEAKER_00: I just became a member of Guevar again, have some clients out there.
• 0:15
  SPEAKER_00: For all of you watching, Guevar is the Greater Antelope Valley Board of Realtors.
• 0:19
  SPEAKER_00: So I've joined them again.
• 0:20
  SPEAKER_00: So now I have access to all that data.
• 0:22
  SPEAKER_00: And as you know, my philosophy, data in real estate, is really the driver.
• 0:28
  SPEAKER_00: And good information really helps people make better decisions so fewer mistakes are made.
• 0:33
  SPEAKER_00: So let's talk a little bit about what's happening in our local market.
• 0:36
  SPEAKER_00: Then I want to talk about something that's very close to my heart, doing your investigations when it comes to your neighbors and buying property.
• 0:43
  SPEAKER_00: And this is speared off by a Wall Street article this morning and also a podcast I did last week where I talked about those kinds of investigations and things to look for right at the very beginning.
• 0:55
  SPEAKER_00: From the first time you see that property, you may be interested in right from that point, moving throughout the rest of your inspections, but most importantly, checking out your neighbors.
• 1:05
  SPEAKER_00: What are they like?
• 1:05
  SPEAKER_00: Are you going to be able to live next to them?
• 1:07
  SPEAKER_00: Because realistically, folks, we're talking 4.7 to 4.9 years.
• 1:11
  SPEAKER_00: That's about the time you're going to stay in that house, at least that's on average.
• 1:14
  SPEAKER_00: So if you're going to stay that long, want to find out who those neighbors are and if they're going to be a good fit.
• 1:20
  SPEAKER_00: The article talked about somebody purchasing a property that had an overzealous lady that lived neck nearby.
• 1:27
  SPEAKER_00: And she was constantly yelling, very upset, it seemed.
• 1:30
  SPEAKER_00: And she just continuous going after, wanting to know, you know, who they are, who the agent is showing the property, a total busybody.
• 1:37
  SPEAKER_00: And it's cool to have that as a neighbor, but maybe not so close.
• 1:41
  SPEAKER_00: In fact, busybodies are really good because they find out everything going on.
• 1:45
  SPEAKER_00: And if you happen to have a visitor when you're not there, they'll be the first to tell you right when you get home.
• 1:50
  SPEAKER_00: So they're good with that regard.
• 1:52
  SPEAKER_00: But on the other side of the coin, well, they can be a little busy in your life too, correcting you, advising you, giving you advice that you probably don't want, totally unsolicited.
• 2:02
  SPEAKER_00: So that's something that we'll talk about in a moment.
• 2:04
  SPEAKER_00: But let's get to that local inventory.
• 2:06
  SPEAKER_00: So we've crept up here over the past few days.
• 2:08
  SPEAKER_00: We've been watching, we're down the 270s at the beginning of the week.
• 2:11
  SPEAKER_00: Now we're at Thursday, we're at 290 active listings in all of the Santa Crita Valley cities.
• 2:17
  SPEAKER_00: And I also ran everything in the Antelope Valley, and they have 560 active listings.
• 2:22
  SPEAKER_00: And this is all total now.
• 2:24
  SPEAKER_00: Here's something interesting that you might not know.
• 2:27
  SPEAKER_00: If you're searching online for real estate, you have an agent doing the recon, I've noticed that there are about six properties in Santa Crita Valley that aren't in our local board as being for sale.
• 2:39
  SPEAKER_00: So these are Antelope Valley agents that are just members of the Antelope Valley Board of Realtors or the Greater Antelope Valley Board of Realtors or Gavar, and they don't have uh multiple memberships or they don't have an affiliate membership here in Santa Crita Valley.
• 2:54
  SPEAKER_00: So that listing isn't being seen by any of the locals unless somebody maybe drives by and says, oh, there's a sign in the yard, or let's check it out.
• 3:01
  SPEAKER_00: But other than that, depending on where the agents are searching for listings for their clients, or depending on when the clients are searching, they're not seeing these, which is very interesting to me.
• 3:10
  SPEAKER_00: I have been a member of CAVAR before, and I understand that they don't share data with other board, like at least the Southland Regional Association does.
• 3:19
  SPEAKER_00: But that's something interesting to note.
• 3:22
  SPEAKER_00: And I don't know if it reciprocates, but there could be agents here that aren't members of Cabar.
• 3:27
  SPEAKER_00: Like, for example, for me to properties out there, it's easier for me to join instead of trying to get the information or listings for my clients from other people that are members of this board.
• 3:37
  SPEAKER_00: It's easier for me just to get the membership myself, and it's an affiliate membership, not a full-blown membership, but I get access to all their data.
• 3:44
  SPEAKER_00: So I get to use that for my clients.
• 3:46
  SPEAKER_00: Something to consider watching the market and seeing that there are properties that you might be missing.
• 3:52
  SPEAKER_00: So that's important to know how you get around that.
• 3:55
  SPEAKER_00: We'll find somebody that's a member of both, and they can send you both of those, or maybe try the online search systems.
• 4:01
  SPEAKER_00: But again, I always tell my clients to throw caution to the wind.
• 4:05
  SPEAKER_00: It might be a little dangerous for you to go on those systems only because they get monetized by selling your personal and private information once you give it up.
• 4:15
  SPEAKER_00: So understand that's their game.
• 4:17
  SPEAKER_00: All right, so let's talk about this.
• 4:18
  SPEAKER_00: So we have that 560 in Santa Cruz Valley of those active listings.
• 4:24
  SPEAKER_00: We have 18 that are of the coming soon variety.
• 4:26
  SPEAKER_00: I haven't seen anything odd or abnormalities that I typically do when I'm looking around.
• 4:32
  SPEAKER_00: Again, this does pull in a lot of information.
• 4:36
  SPEAKER_00: So we have, for example, I can tell you exactly what's happened, how many properties have canceled over the past 24 hours, and how many properties have actually been withdrawn.
• 4:47
  SPEAKER_00: So this is Antelope Valley number.
• 4:48
  SPEAKER_00: So two of their listings actually were pulled from being on the active market for sale.
• 4:53
  SPEAKER_00: We have three properties in the Antelope Valley that have gone under contract.
• 4:57
  SPEAKER_00: 20 properties have experienced price changes, and those are price changes in the reverse.
• 5:02
  SPEAKER_00: So actually lowering of those listing prices.
• 5:05
  SPEAKER_00: So 20 of those.
• 5:06
  SPEAKER_00: Eight properties have expired, not selling within the contractual time frames.
• 5:10
  SPEAKER_00: 22 properties are pending in the past 24 hours.
• 5:14
  SPEAKER_00: 21 properties closed escrow again.
• 5:16
  SPEAKER_00: Greater Animal Valley Board of Realtors.
• 5:18
  SPEAKER_00: Going back to our local, I'll give you that information as well.
• 5:22
  SPEAKER_00: So we had four coming soon listings in Santa Clarita Valley cities.
• 5:27
  SPEAKER_00: Those are new, just been added in the last 24 hours.
• 5:30
  SPEAKER_00: 12 new listings have entered the market for sale.
• 5:32
  SPEAKER_00: We've had four price changes also in the reduction.
• 5:36
  SPEAKER_00: Maybe overzealous, maybe sellers wanting more for their properties than they're actually worth.
• 5:40
  SPEAKER_00: We have six properties that closed escrow.
• 5:43
  SPEAKER_00: 10 properties went into pending status, which is an in-contract status, but a real secure one, meaning that that property is not really showing up online as being for sale any longer.
• 5:54
  SPEAKER_00: Didn't have any expired in the last 24 hours.
• 5:56
  SPEAKER_00: One canceled, four were put on hold.
• 6:00
  SPEAKER_00: This happens a lot more frequently than probably should.
• 6:04
  SPEAKER_00: It basically makes a property disappear from the online systems.
• 6:08
  SPEAKER_00: Whenever an agent has a listing, and let's say the listing becomes overwhelmed with potential buyers, lots of offers submitted.
• 6:16
  SPEAKER_00: A lot of times the agent says, Oh my gosh, we need to pull back a little bit and put this property on hold to get a breather so we can go through all these offers instead of continuing to get offers.
• 6:27
  SPEAKER_00: Again, is that the correct way to do it?
• 6:30
  SPEAKER_00: That would be something that that agent needs to take up with the board of realtors.
• 6:34
  SPEAKER_00: But in essence, maybe they could make that public statement and say we've had a bunch of offers on this property.
• 6:39
  SPEAKER_00: If you're interested, please go ahead, like we do when it comes to that.
• 6:42
  SPEAKER_00: But again, there are some listings or some potential offers that might pass the deadline.
• 6:48
  SPEAKER_00: By the time we're going to be responding to everybody, it might miss out.
• 6:51
  SPEAKER_00: That's why it's best to hit properties early instead of waiting too long after they've been on the market, especially when we have a market like we see now, which is a seller's market.
• 7:01
  SPEAKER_00: Let's talk about the neighbors and those investigations.
• 7:03
  SPEAKER_00: Now, investigations.
• 7:05
  SPEAKER_00: Now, of course, you purchasing real estate is going to afford you inspections.
• 7:11
  SPEAKER_00: If you don't give up those rights at the very beginning, you'll be able to do inspections on the property that you like.
• 7:18
  SPEAKER_00: And prior to that, though, because inspections cost money usually, meaning you're going to have to pay a home inspector, the appraiser to come out to establish value working for the bank or who's loaning you the money, they also are going to try to, they're going to come out and they're going to charge a fee for that service as well.
• 7:36
  SPEAKER_00: Prior to that, though, I'm talking about neighbors.
• 7:38
  SPEAKER_00: So what I do when I go out with clients is I look for what potential impacts the neighbors' properties are having on the property that my buyers are buying.
• 7:49
  SPEAKER_00: And I also do this for my sellers.
• 7:51
  SPEAKER_00: If I'm looking at their property as well, there could be items that need to be remedied.
• 7:55
  SPEAKER_00: So buyers that come look at their house don't become overwhelmed thinking, oh my gosh, I would love to buy it, but there's these major huge eucalyptus trees, these old big branch trees or oaks or whatever that are basically over my property.
• 8:09
  SPEAKER_00: I'm scared if those branches break, they're going to destroy my house.
• 8:12
  SPEAKER_00: That's true.
• 8:13
  SPEAKER_00: That's a real thing.
• 8:14
  SPEAKER_00: Or how about roots, massive root structures from these properties, going from one property across the property boundary to the other property, causing damage or potential potential damage in the future.
• 8:27
  SPEAKER_00: But besides the impact, who's living next to you?
• 8:31
  SPEAKER_00: So I always say, hey, let's go door knock it.
• 8:34
  SPEAKER_00: Let's go introduce ourselves.
• 8:35
  SPEAKER_00: I'll say I'm Connor with Honor, your agent, which is true, and you're the buyers.
• 8:39
  SPEAKER_00: And how do you like living in the neighborhood?
• 8:42
  SPEAKER_00: And then find out who they are.
• 8:43
  SPEAKER_00: Are they a renter?
• 8:44
  SPEAKER_00: Are they somebody that owns the property?
• 8:46
  SPEAKER_00: Are they a relative?
• 8:47
  SPEAKER_00: Are they just visiting?
• 8:48
  SPEAKER_00: Are they somebody that maybe maintains the property throughout the year?
• 8:52
  SPEAKER_00: The sellers only show up every few months.
• 8:54
  SPEAKER_00: Whatever it may be, at least you kind of know, and then you get over them.
• 8:57
  SPEAKER_00: Eventually, if you knock on enough doors, and I would recommend the properties that are in front across the street, if it's that configuration, I would also recommend the properties to the left and to the right of you.
• 9:09
  SPEAKER_00: And also, if there are properties behind you, like up a slope or down a slope, or even on the same level, but there's no alley access, or even if there is an alley, maybe those properties back there, finding out who those folks are.
• 9:21
  SPEAKER_00: And I don't mean doing a full-blown, you know, online FBI investigation, finding out what bankruptcies they've had and all, which maybe criminal records wouldn't be bad.
• 9:30
  SPEAKER_00: However, barring that, just talking to them, having a discussion.
• 9:34
  SPEAKER_00: Eventually you'll run into that chatty Kathy.
• 9:36
  SPEAKER_00: She'll tell you everything about the neighborhood that you never wanted to know, but at least that way you get an idea.
• 9:41
  SPEAKER_00: You're going to be living in this house, folks, for a while.
• 9:44
  SPEAKER_00: My word of advice, make sure you check out the neighbors so you're comfortable in where you live.
• 9:50
  SPEAKER_00: I'm Connor with Honor.
• 9:51
  SPEAKER_00: We'll be back tomorrow.
• 9:52
  SPEAKER_00: We have our Friday's update show.
• 9:54
  SPEAKER_00: We're going to be talking about open houses in Santa Crita Valley.
• 9:58
  SPEAKER_00: I'll give my clients that information.
• 10:00
  SPEAKER_00: When you're ready, reach out to me.
• 10:02
  SPEAKER_00: And of course, you'll find me online, ConnorWithHonor.com.
• 10:05
  SPEAKER_00: Be well, everybody.
• 10:06
  SPEAKER_00: Please check out your neighbors.
• 10:08
  SPEAKER_00: Please make sure that these are places that you want to live before you start spending the money on your inspections, the home inspector and appraisal.
• 10:17
  SPEAKER_00: It's really good to at least fet the area the best you can before going in.
• 10:21
  SPEAKER_00: And finally, I'll throw out this.
• 10:23
  SPEAKER_00: Before I close out the show, a local phone call to law enforcement.
• 10:28
  SPEAKER_00: If the area is controlled by their own police agency, great.
• 10:32
  SPEAKER_00: If the area is controlled by sheriffs because the city leases out to them or pays for their security, great.
• 10:38
  SPEAKER_00: Call them up and find out who is in charge of crimes, different types of crimes.
• 10:43
  SPEAKER_00: Now, more than likely we're going to be looking for property crime stuff.
• 10:47
  SPEAKER_00: What's going on?
• 10:47
  SPEAKER_00: And maybe is there a crazy person living nearby?
• 10:50
  SPEAKER_00: That's not bad to find out as well.
• 10:52
  SPEAKER_00: And that would be via a special location.
• 10:54
  SPEAKER_00: I was at LAPD for a long time, so they'll have a lot of logged trips to a particular residence that might be next door because, well, there's a crazy person.
• 11:03
  SPEAKER_00: I hope everybody's well.
• 11:04
  SPEAKER_00: Enjoy the show.
• 11:05
  SPEAKER_00: I'll be back tomorrow.
• 11:07
  SPEAKER_00: And Connor with honor.
• 11:08
  SPEAKER_00: Over now.