Latest / Connor with Honor: AI, Real Estate and Real Life / Refinancing know what you are getting it for, what your next move is and why you should not base your buying decisions on it

Transcript

Refinancing know what you are getting it for, what your next move is and why you should not base your buying decisions on it · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Good day everybody.
• 0:01
  SPEAKER_00: We're at the 4th of August 2025.
• 0:04
  SPEAKER_00: Let's talk about what's happening in real estate.
• 0:05
  SPEAKER_00: 810 total active listings on the market for sale.
• 0:09
  SPEAKER_00: As of this morning, right now it's 716 Pacific Standard Time.
• 0:13
  SPEAKER_00: 7.16 a.m.
• 0:15
  SPEAKER_00: Pacific Standard Time.
• 0:16
  SPEAKER_00: Looking at the rest of the real estate activity here, last seven-day snapshot, seven listings have been placed as coming soon onto the market.
• 0:23
  SPEAKER_00: We have 92 new listings that have entered this market for sale this week.
• 0:27
  SPEAKER_00: 115 properties have had their prices changed.
• 0:30
  SPEAKER_00: Majority of those are reductions.
• 0:31
  SPEAKER_00: Over a hundred of those are reductions in listing price.
• 0:35
  SPEAKER_00: But it's not affecting the overall sales prices.
• 0:37
  SPEAKER_00: If you track back and look at the history of the sold properties in any specific neighborhood, matching up apples to apples in comparison, the four bedroom houses, same square footage, same builder, you're going to see that those sold prices still haven't been impacted and we're holding steady, in fact, increasing in the different areas out here in Santa Clarita Valley.
• 0:56
  SPEAKER_00: Give us more inventory, less buyer drive.
• 0:58
  SPEAKER_00: Of course, we'll see a drop in the real estate prices.
• 1:01
  SPEAKER_00: But if you keep all that steady and don't change much on any end, we'll probably still see prices continue to increase, but very, very slow, maybe one, one and a half percent in the rest of this year, depending on what happens with the Fed, the Fed funds rate, how that 10-year bond goes, which where the mortgage rates are typically based.
• 1:18
  SPEAKER_00: For those buyers out there, it's difficult right now, strange decision world, because they're looking, should they buy now or should they wait till rates come down?
• 1:26
  SPEAKER_00: If rates will come down, whatever your decision happens to be, I wouldn't base it on the fact that rates are going to be coming down anytime soon.
• 1:34
  SPEAKER_00: If that happens, great, good for you.
• 1:36
  SPEAKER_00: You've just basically won maybe a mini lottery prize in that regard.
• 1:40
  SPEAKER_00: If in fact you're based at a 7% interest rate, rates come down to 4%, good for you.
• 1:46
  SPEAKER_00: You just refinance if you bought recently, and then you're good to go.
• 1:50
  SPEAKER_00: Then whatever that cost is, you'll be making up that particular fee in short order.
• 1:56
  SPEAKER_00: Understanding, of course, refinances for the most part do cost some kind of money that you are going to be paying for them.
• 2:02
  SPEAKER_00: So finding out how long you've been paying on your mortgage, how much that refin is going to cost, how much you're going to save, these are things that you should factor in before making a decision to refinance a house.
• 2:13
  SPEAKER_00: People that have had their mortgages, just to give you an idea, people that have had their mortgages, you know, 10 and 15 years going into a refinance world, it's going to depend on how long they're going to own their home, how much they've paid off, how much that refinance costs, because now they're starting the mortgage over again at 30 years with a refinance and they've already paid halfway through.
• 2:31
  SPEAKER_00: Is it worth it?
• 2:32
  SPEAKER_00: I don't know.
• 2:33
  SPEAKER_00: You have to look at the numbers, find out where exactly you are today, where you're going to be in five years.
• 2:38
  SPEAKER_00: You know, how long is it going to be till you leave wherever this residence happens to be?
• 2:43
  SPEAKER_00: And are there going to be any changes in the future?
• 2:45
  SPEAKER_00: I know we all can't foresee that.
• 2:47
  SPEAKER_00: A lot of us want to stay put and stick where we are currently in the world, but you know, things change.
• 2:52
  SPEAKER_00: So at least look at it from different angles so you've addressed those.
• 2:55
  SPEAKER_00: And then whatever decision you make, live by it.
• 2:59
  SPEAKER_00: You know, own it, take full responsibility for it.
• 3:02
  SPEAKER_00: Don't look back and just keep going forward.
• 3:04
  SPEAKER_00: Anyway, that has served me well.
• 3:06
  SPEAKER_00: Back on market properties 26 have popped back onto the market this week.
• 3:09
  SPEAKER_00: 24 properties have gone active under contract.
• 3:12
  SPEAKER_00: Uh, these are properties that have gone into escrow.
• 3:15
  SPEAKER_00: 42 have gone pending, 62 have closed this last week.
• 3:18
  SPEAKER_00: We have 11 expired, 18 canceled, 16 have been put on have been put on hold, and we have nine that have been pulled off the market.
• 3:27
  SPEAKER_00: When you're ready, have a look at Santa ClaritaOpenhouses.com.
• 3:30
  SPEAKER_00: I leave it unlocked.
• 3:31
  SPEAKER_00: You'll see all of the real estate information.
• 3:33
  SPEAKER_00: They're not just new houses.
• 3:35
  SPEAKER_00: Also, I do put this daily video on the homepage.
• 3:38
  SPEAKER_00: So in every morning, 9, 10 o'clock.
• 3:40
  SPEAKER_00: If you want to go see the daily video, then go there.
• 3:43
  SPEAKER_00: You can check this out.
• 3:43
  SPEAKER_00: I'm Connor with Honor.
• 3:44
  SPEAKER_00: When you're ready, reach out.
• 3:45
  SPEAKER_00: You can get me on a Zoom call talking about your real estate needs, what's happening, what you're thinking about doing.
• 3:51
  SPEAKER_00: Zoomme scv.com.
• 3:54
  SPEAKER_00: Have a great day.
• 3:55
  SPEAKER_00: We'll see you uh tomorrow.
• 3:56
  SPEAKER_00: Be well.