Latest / Connor with Honor: AI, Real Estate and Real Life / Santa Clarita real estate refinancing are coming be careful and make sure you are not overpaying

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Santa Clarita real estate refinancing are coming be careful and make sure you are not overpaying · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Good day, everybody.
• 0:01
  SPEAKER_00: Today's the 31st of August 2025.
• 0:03
  SPEAKER_00: We're going to talk about Santa Clarita real estate.
• 0:06
  SPEAKER_00: Also, we will go through the numbers, find out what's happening.
• 0:09
  SPEAKER_00: Tomorrow is when today will actually be closed, tonight at midnight.
• 0:14
  SPEAKER_00: So those numbers will translate into tomorrow, whatever changes in the market.
• 0:17
  SPEAKER_00: I don't see that being a huge deal.
• 0:19
  SPEAKER_00: So if you're out there looking at real estate, trying to figure out what's happening, I don't see much change at all between today and tomorrow.
• 0:26
  SPEAKER_00: And if you want to gauge your shot, there are a lot of people that are locked in.
• 0:30
  SPEAKER_00: If we talk about people that have purchased real estate past 10 months ago, they have a higher interest rate, they're looking at refinancing.
• 0:37
  SPEAKER_00: Before you jump into something like that, if you happen to be a property owner and they're teasing you on getting your thing, your property refinanced, please make sure it makes sense because there's fees involved in this.
• 0:47
  SPEAKER_00: And if there are fees also you've paid X amount of months already on your mortgage, when you refinance, you're typically starting it up brand over, brand new, 30 years, starting right at the beginning.
• 1:01
  SPEAKER_00: Make sure that makes sense.
• 1:02
  SPEAKER_00: And if you have some kind of an exit strategy, as we see a lot of people are having here in California, they're thinking about jumping out of the state and going somewhere else because of but whatever.
• 1:11
  SPEAKER_00: Anyway, so they're deciding to do this.
• 1:13
  SPEAKER_00: That escape system uh should involve you know figuring out where your property happens to be in value.
• 1:19
  SPEAKER_00: So check that out.
• 1:20
  SPEAKER_00: We our prices are not declining here in Santa Clarita Valley.
• 1:24
  SPEAKER_00: In some of the sectors, they're staying relatively flat.
• 1:27
  SPEAKER_00: In a couple others, depending on the properties offered, they're increasing in different ways.
• 1:32
  SPEAKER_00: And I'll talk about that in just a moment, kind of what's spurring off that and how you can maybe take best advantage of that.
• 1:38
  SPEAKER_00: So in Santa Clarita Valley, right now we have 759 active total residential listings, single family residences, condominiums, townhomes across all areas.
• 1:48
  SPEAKER_00: And we also have some active in there, about 10 of those are or excuse me, 10 of those are coming soon.
• 1:52
  SPEAKER_00: If you want to see those, Santa Clarita coming soon.com is that resource.
• 1:57
  SPEAKER_00: You'll be able to basically, if you don't have a real estate agent, and and if you do, contact them and say, listen, I need to be seeing these coming soon listings because they're a chance for you to see them, see listings before they hit syndication sites anywhere.
• 2:11
  SPEAKER_00: You you you'll get them emailed to you.
• 2:13
  SPEAKER_00: That's how the system works.
• 2:14
  SPEAKER_00: And it has to come directly through a realtor from the Board of Realtors.
• 2:19
  SPEAKER_00: That's how it is.
• 2:20
  SPEAKER_00: If you don't have an agent, hit me up, SantaClaritaComingSoon.com.
• 2:23
  SPEAKER_00: I'll get those sent to you.
• 2:24
  SPEAKER_00: Again, it's not massive numbers, but if something fits your criterion, you can look at it before the rest of the general public that's searching for houses because they don't happen to have a relationship or somebody willing to send it to them.
• 2:37
  SPEAKER_00: On the real estate end of it, you're gonna you're gonna do very well with that.
• 2:41
  SPEAKER_00: So all right, hit me up on that.
• 2:43
  SPEAKER_00: I'll be more than happy to help.
• 2:44
  SPEAKER_00: All right, so now what I did is I plugged in 30 days of Valencia's uh sales just to let everybody know where the market happens to be.
• 2:52
  SPEAKER_00: I ran single-family residences, condominiums, townhomes.
• 2:55
  SPEAKER_00: So everything across the board, 78 closings in the last 30 days, uh 314 at the low end and over 2 million at the high end.
• 3:03
  SPEAKER_00: Uh, we ran the condos at Del Monte Town Center, big ticket sales to Woodlands, Valencia Northbridge, several uh built uh new new housing built at the Elderberry via Diamante Track 2024 built 2025.
• 3:17
  SPEAKER_00: All right, so here's what's happening.
• 3:19
  SPEAKER_00: We do see that price reductions are uh affecting the market, but not sales prices.
• 3:25
  SPEAKER_00: So the recording sales prices, these properties that are closing, then the next one that closes in that neighborhood is either at the same or a little bit more expensive.
• 3:34
  SPEAKER_00: So we're not seeing any dwindling there.
• 3:36
  SPEAKER_00: We are seeing sellers price their properties outside of where the market variables tend to be.
• 3:41
  SPEAKER_00: So when a buyer comes in, they're usually offering less, or that particular seller because the days on market time frames has increased, they're reducing those prices at some point, but they're still not getting into the past historical sale prices.
• 3:57
  SPEAKER_00: So we're not seeing those decline.
• 3:59
  SPEAKER_00: When you watch the news reporters out there and people talking about real estate pertaining to kind of an overall market here in America, when you start to focus down, they're realistically speaking about that in our market.
• 4:14
  SPEAKER_00: They're talking about those differences between listing price and then reducing those listing prices.
• 4:20
  SPEAKER_00: They haven't gotten to that sold data, which is really what you need to look at to base an opinion on.
• 4:26
  SPEAKER_00: Anybody can ask whatever they want when they're selling their property.
• 4:28
  SPEAKER_00: If they want to ask a million dollars for a property that won't appraise for more than 700, hey, they can do anything they want.
• 4:34
  SPEAKER_00: If the agent's going to take that listing, that might be a little questionable.
• 4:38
  SPEAKER_00: And maybe we should talk to that real estate agent.
• 4:41
  SPEAKER_00: Why would they mislead unless it's some kind of a strategy?
• 4:45
  SPEAKER_00: But at the end of the day, anybody can price their property of anything they want.
• 4:49
  SPEAKER_00: They're not going to get it, depending on that price, but of course they can do it.
• 4:53
  SPEAKER_00: It's a free world, at least for now.
• 4:56
  SPEAKER_00: Having said that, buyers are very savvy when they go and they look at the property, even if the buyer misses it, even if they're willing to pay that, if the property is dependent on a loan, the appraiser is going to come back and they're going to say, well, sorry.
• 5:08
  SPEAKER_00: We're not going to appraise it for that.
• 5:09
  SPEAKER_00: We'll give you$700,000 for the property.
• 5:12
  SPEAKER_00: We'll allow it to go through with that.
• 5:13
  SPEAKER_00: But any more than that, we won't.
• 5:14
  SPEAKER_00: Then the ball goes back to the seller side because now the seller knows that the appraisal, the appraiser for the bank that's loaning the buyer the money to buy the seller's house, they're not on board with this million-dollar price point, and they'll accept, they'll they'll basically they gave the value at$700,000.
• 5:33
  SPEAKER_00: So there's another fail-safe in place.
• 5:36
  SPEAKER_00: And if you think for just a moment that the appraisers out there are on the side of the real estate agents, yeah, if that existed, if it existed, it would have existed back prior to the last fall of the cycle back in 2007.
• 5:50
  SPEAKER_00: That's God coming up 20 years now, 18 years so far.
• 5:53
  SPEAKER_00: Yeah, that doesn't happen anymore.
• 5:55
  SPEAKER_00: There is no love and loyalty between appraisers and real estate agents.
• 6:00
  SPEAKER_00: They do their job.
• 6:02
  SPEAKER_00: That's it.
• 6:03
  SPEAKER_00: There is no game in there, there's no dialing up, there's no making it better, there's no help me out, please, brother, sister, there's none of that crap.
• 6:10
  SPEAKER_00: It is all 100% accurate because now there are different fail-safes put in place, different parts of the entity loaning the money that they've put, uh that they've also put into play to watch, pay attention.
• 6:24
  SPEAKER_00: Having learned about appraisal, they understand it.
• 6:27
  SPEAKER_00: So if an appraiser tries to go in and game the system because of some relationship they have with a real estate agent, it becomes an issue and they will be found out, and then they won't be an appraiser anymore.
• 6:40
  SPEAKER_00: There you go.
• 6:41
  SPEAKER_00: Rates are at a uh more than 10-month low.
• 6:43
  SPEAKER_00: We haven't seen these rates for a long time.
• 6:45
  SPEAKER_00: And it looks like that's going to continue to adjust.
• 6:48
  SPEAKER_00: Looks like the Fed, the employment numbers, all this fancy stuff, they're coming out as being much more in supportive of reducing that overall Fed funds rate.
• 6:56
  SPEAKER_00: And when that drops, we should see not 100%, but we should see some kind of a reduction in the the uh mortgage interest rate.
• 7:06
  SPEAKER_00: Now, the mortgage interest rates typically tie to that 10-year bond.
• 7:09
  SPEAKER_00: So that's why we've been watching that reduce because there's been more confidence in that particular sector.
• 7:16
  SPEAKER_00: So the that's causing interest rates on mortgages to relax.
• 7:20
  SPEAKER_00: It's it's it's up and down all the time.
• 7:22
  SPEAKER_00: Right now, it seems like that trend is continuing to go down.
• 7:25
  SPEAKER_00: We'll keep watching as that continues.
• 7:28
  SPEAKER_00: Now, the differences out there, those properties that are selling, for those buyers out there that are looking, you have two types.
• 7:36
  SPEAKER_00: You have properties that the sellers have really done nothing to over the past years they've lived there.
• 7:42
  SPEAKER_00: So they haven't changed them, modified, haven't upgraded, haven't updated, have done nothing.
• 7:46
  SPEAKER_00: And then you have the other side of it, sellers that are just those people that have every single piece of paper involved in them purchasing and maintaining their residence.
• 7:56
  SPEAKER_00: They have a receipt from 1976 where they hired a plumber to come over and stop a small pinhole leak under the kitchen sink.
• 8:04
  SPEAKER_00: And since then, the entire kitchen has been remodeled.
• 8:06
  SPEAKER_00: They have receipts and schematics and blueprints for all of that.
• 8:10
  SPEAKER_00: So they have basically an entire filing cabinet full of stuff, depending on the length of ownership of the residence, that they'll be able to pass on to the buyer.
• 8:18
  SPEAKER_00: That type of seller, that type of seller is gonna do fine.
• 8:21
  SPEAKER_00: In any market, that type of seller is gonna do just great because they've kept track of everything having to do with this house.
• 8:28
  SPEAKER_00: And it's just like going out and buying a horse.
• 8:30
  SPEAKER_00: If you have all the all the paperwork on the horse, you're golden.
• 8:35
  SPEAKER_00: Going to buy a dog again.
• 8:36
  SPEAKER_00: All that paperwork, if you're looking for something pedigree, not out of the pound, you want to make sure that that lineage is proper.
• 8:42
  SPEAKER_00: You have all the research documents to do that.
• 8:45
  SPEAKER_00: Buying a car the same, but they have Carfax, Car Fox, they have these types of things out there that track vehicles.
• 8:51
  SPEAKER_00: And in real estate, not so much.
• 8:53
  SPEAKER_00: You might be able to pull some information from the city if there happens to be some kind of an add-on or addition.
• 9:00
  SPEAKER_00: You want to check on permits.
• 9:01
  SPEAKER_00: And maybe the sellers, when they changed out certain items, there was a city requirement to get permits for those items.
• 9:07
  SPEAKER_00: But really, it's not going to be much more than that.
• 9:09
  SPEAKER_00: The seller's going in and painting something, the type of paint, the type of flooring, the type of molding, the people that they hired to do specific jobs, maybe the plumber that they and not all plumbers are going to pull whatever permits are necessary.
• 9:22
  SPEAKER_00: That's kind of back on the seller.
• 9:24
  SPEAKER_00: Although a contractual, somebody that's an actual contractor, they're going to be held to a higher standard, just like somebody that's going to sell your house that has a real estate license member of the board of realtors is going to be held to a higher standard than somebody that does not.
• 9:38
  SPEAKER_00: So there's a lot more to a lot more to enforce, I guess you could say, because of that background, the experience, but also the licensing.
• 9:47
  SPEAKER_00: The contractors out there have a particular level that they have to achieve or stay around, or they get in a lot of trouble, they lose their license.
• 9:56
  SPEAKER_00: That's what's on the chopping block.
• 9:58
  SPEAKER_00: When you're hiring people that aren't in that world, maybe they'll still do a great job, but there's not a lot of verification when it comes to to maybe wanting to sell your house in the future because the buyer might ask, hey, who did this, who did that?
• 10:12
  SPEAKER_00: And especially if they find out years later, which might have gone on and you don't have any awareness of it, but maybe there's some issue that was created because of the sloppy work done.
• 10:22
  SPEAKER_00: On the surface, it looked great, but over the next 10 years, it created a problem.
• 10:26
  SPEAKER_00: It's going to cost you a lot of money as the seller when it comes to buying your house.
• 10:30
  SPEAKER_00: And you wouldn't have even found it unless the buyer hired a home inspector to go into the residence and look and find it.
• 10:36
  SPEAKER_00: Again, there's a lot out there with real estate, so make sure you get good advice.
• 10:40
  SPEAKER_00: You're hearing what you with the proper, not somebody trying to sell you some BS.
• 10:45
  SPEAKER_00: Make sure you're hearing the truth when it comes to real estate.
• 10:48
  SPEAKER_00: All right, so you can go to Santa Clarita Openhouses.com.
• 10:51
  SPEAKER_00: When you go there, you'll see the blog uh button up at the top.
• 10:54
  SPEAKER_00: Also, every single real estate listing that happens to be for sale will be there.
• 10:57
  SPEAKER_00: And of course, open houses.
• 10:59
  SPEAKER_00: Everybody loves a good open house.
• 11:01
  SPEAKER_00: So you'll see that as well.
• 11:02
  SPEAKER_00: I'm Connor with Honor.
• 11:03
  SPEAKER_00: When you're ready, reach out to me.
• 11:04
  SPEAKER_00: I'd love to help.
• 11:05
  SPEAKER_00: And you can find more information.
• 11:07
  SPEAKER_00: You want to sit down, you want to talk over Zoom and find out your best real estate strategies.
• 11:12
  SPEAKER_00: Zoomme scv.com.
• 11:15
  SPEAKER_00: Zoom me scv.com and I'll be there and we will uh get something set up.
• 11:20
  SPEAKER_00: And I look forward to seeing you tomorrow on the first.
• 11:23
  SPEAKER_00: Have some, we should have some blah, blah, blah, blah.
• 11:25
  SPEAKER_00: We should have some more numbers as far as closings go.
• 11:28
  SPEAKER_00: I don't see that changing much, but for that particular report, I was going to wait till them till tomorrow, which I always do on the first of every month, giving everybody an idea what's happening in the real estate world with real verifiable information and numbers.
• 11:42
  SPEAKER_00: See you next one.
• 11:43
  SPEAKER_00: Take care.
• 11:43
  unknown: Bye.