Latest / Connor with Honor: AI, Real Estate and Real Life / Buyers crushing their home dreams in Q3 2025 when it comes to buying homes, then losing the deals

Transcript

Buyers crushing their home dreams in Q3 2025 when it comes to buying homes, then losing the deals · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Everybody, welcome to the 8th of September 2025.
• 0:02
  SPEAKER_00: We're going to give you some national headlines here in just a moment.
• 0:05
  SPEAKER_00: Our daily inventory today in Santa Clarita Valley is 770 total active units for sale.
• 0:11
  SPEAKER_00: That's going to span the breadth of Santa Clarita cities.
• 0:15
  SPEAKER_00: That's going to be including Castella, Kenyan Country, New Hall, Saga Stevenson Ranch, and Valencia, and all of that.
• 0:22
  SPEAKER_00: 770 active listings is going to consist of single family residences, which is the largest part of it.
• 0:28
  SPEAKER_00: Then you have townhomes, then you have condominiums.
• 0:30
  SPEAKER_00: Actually, condominiums connect than townhomes.
• 0:33
  SPEAKER_00: What is that inventory looking like out there for buyers and sellers?
• 0:36
  SPEAKER_00: Definitely still a seller's market.
• 0:37
  SPEAKER_00: Buyers do have more to choose from, however.
• 0:40
  SPEAKER_00: So the choices aren't as limited as they had been.
• 0:43
  SPEAKER_00: We actually had more inventory about three weeks ago prior to school going back into session.
• 0:49
  SPEAKER_00: Now the inventory is starting to dwindle, and we're seeing higher numbers in cancellations and expired listings, which is interesting.
• 0:56
  SPEAKER_00: It's almost as if people have changed their mind.
• 0:58
  SPEAKER_00: Potentially, those are people that really wanted to sell to get their kids into a different district, maybe, or reposition themselves out of the state of California, and they found out they weren't able to get as much as they wanted to for the residents.
• 1:10
  SPEAKER_00: Now we're not seeing those actual recorded sales prices impacted.
• 1:14
  SPEAKER_00: So when you see that national news, it's telling you that real estate prices are coming down, run for the hills.
• 1:20
  SPEAKER_00: That's actually not the case, at least in Santa Clarita Valley.
• 1:23
  SPEAKER_00: And other in other places in the United States, Midwest, slower markets, sure, absolutely.
• 1:28
  SPEAKER_00: You're seeing that trend happen.
• 1:29
  SPEAKER_00: It hasn't affected us out here in Southern California or at least Greater Los Angeles, Santa Clarita areas as of yet.
• 1:36
  SPEAKER_00: But stay tuned for that.
• 1:37
  SPEAKER_00: Also, the Fed funds, they're coming into hopefully meeting again soon and hopefully dropping the Fed funds rate, which should have some impact on the mortgage rate.
• 1:45
  SPEAKER_00: Although, of course, we all know, I've been corrected many times, that the Fed funds rate is based on the 10-year bond rate.
• 1:53
  SPEAKER_00: But when you, excuse me, the mortgage interest rates based on the 10-year bond.
• 1:57
  SPEAKER_00: But when they do impact the Fed funds rate, that impacts everything.
• 2:01
  SPEAKER_00: So we should see a relaxation in mortgage interest rates.
• 2:05
  SPEAKER_00: Now we are at a 10-year low currently, and we have some bad, uh not great economic numbers that came through with regard to employment.
• 2:13
  SPEAKER_00: That's starting to put the Fed on notice.
• 2:15
  SPEAKER_00: Maybe they'll change it.
• 2:16
  SPEAKER_00: I know that that's a big pissing contest between the president and the Fed, uh, Chairman Jerome Powell, that goes back and forth.
• 2:22
  SPEAKER_00: Whatever side of the fence you on, you are on that.
• 2:25
  SPEAKER_00: If they did reduce interest rates a couple points or a point and a half, and we saw that same impact in the mortgage area, or that in the mortgage area exclusively, real estate would kick off again, just like it did potentially back in the 2000s, uh, early 2000s, when we saw that market just going crazy.
• 2:43
  SPEAKER_00: Now it's probably not going to be that hot, but it will be pretty remarkable.
• 2:47
  SPEAKER_00: I do know there's a lot of buyers out there just waiting to make a decision as to what they want to do, uh, whether it's purchase real estate, but they're just not really sure because that mortgage interest rate is uncomfortably high.
• 2:59
  SPEAKER_00: And it's difficult to purchase residential real estate based on the hopes of actually a rate reduction at some time in the future.
• 3:08
  SPEAKER_00: And that definitely goes against everything I advise my clients.
• 3:11
  SPEAKER_00: Never, ever, ever buy something hoping that the interest rate will come down and you'll just simply refi.
• 3:18
  SPEAKER_00: What if the rate doesn't come down?
• 3:19
  SPEAKER_00: Then you're going to live the rest of your life uncomfortable because your mortgage payment, you're basically scraping pennies and digging under the couch seat cushions to be able to make the mortgage payment.
• 3:30
  SPEAKER_00: Again, not a great idea.
• 3:31
  SPEAKER_00: But if the rate comes down, revisit it with your lender.
• 3:34
  SPEAKER_00: Like I mentioned earlier, we are at a 10-month low for interest rate.
• 3:38
  SPEAKER_00: So if you haven't even explored this for a while, it might be worth a phone call for you to reach out to them and find out what's happening in the interest rate world.
• 3:45
  SPEAKER_00: All right, coming soon, properties 10.
• 3:47
  SPEAKER_00: We have 85 new listings that have hit the market in the past seven days.
• 3:51
  SPEAKER_00: We have 87 properties that had their prices changed.
• 3:54
  SPEAKER_00: So that's definitely an increase.
• 3:56
  SPEAKER_00: Back on market properties 37.
• 3:58
  SPEAKER_00: Did another video on that as to why this happens and uh just kind of giving an idea out there.
• 4:03
  SPEAKER_00: If you're a real estate buyer, I'll just cut into it real quick.
• 4:07
  SPEAKER_00: Do not change anything financially while you're in escrow.
• 4:10
  SPEAKER_00: Even before escrow, I would leave everything the same because those impacts might take a while to reflect on your credit report.
• 4:17
  SPEAKER_00: Then those lenders out there, when you are borrowing, you know, hundreds of thousands, if not millions, of dollars to purchase real estate, they need to protect their bottom line.
• 4:26
  SPEAKER_00: So what they're doing is they're going to double check.
• 4:28
  SPEAKER_00: At the beginning, it used to be you would just give your information once and they would believe it, they would vet it at least a little bit, and then the process would go through without a hitch.
• 4:37
  SPEAKER_00: And they never re-looked at anything again.
• 4:40
  SPEAKER_00: The property would close, you would get the keys, you move in, life is just a bunch of milk and cream.
• 4:45
  SPEAKER_00: However, today that's not the case.
• 4:47
  SPEAKER_00: They check, they check you multiple times throughout the process.
• 4:52
  SPEAKER_00: If you lose your job, they're probably going to find out if you don't tell anybody.
• 4:56
  SPEAKER_00: If you go out and you pay something off, it's probably going to be found out by them.
• 5:01
  SPEAKER_00: And you might think to yourself, well, what does it matter?
• 5:04
  SPEAKER_00: I'm paying something off.
• 5:05
  SPEAKER_00: That should make it better for me.
• 5:06
  SPEAKER_00: In some cases, it doesn't.
• 5:08
  SPEAKER_00: So leave everything the same.
• 5:09
  SPEAKER_00: And whatever you're going to do, any change that's going to have to do with anything financial, make sure you talk to your lender first.
• 5:17
  SPEAKER_00: And if the lender says over the phone or over text or whatever your method of communication is, oh, don't even worry about it.
• 5:23
  SPEAKER_00: You're going to be fine.
• 5:24
  SPEAKER_00: Okay, great.
• 5:25
  SPEAKER_00: Follow up with them in an email, making sure that you understood what they said, and then clarify what you said.
• 5:33
  SPEAKER_00: Get a response to that email before you do anything, especially if it's to change something.
• 5:40
  SPEAKER_00: Because this could is what could happen, and I've seen this before.
• 5:44
  SPEAKER_00: All of a sudden, somebody gets a notice.
• 5:46
  SPEAKER_00: Your lender gets a notice.
• 5:47
  SPEAKER_00: Uh-oh, Connor's no longer approved to get the mortgage.
• 5:50
  SPEAKER_00: Connor's FICO score dropped, and he no longer fits in this credit profile, nor longer is he capable of purchasing real estate because Connor went out and paid off a$5,000 JC Penny card.
• 6:02
  SPEAKER_00: Well, here's the problem.
• 6:04
  SPEAKER_00: I asked the lender about it.
• 6:05
  SPEAKER_00: The lender said, Don't worry, Connor, you're good as gold.
• 6:08
  SPEAKER_00: You go ahead and you pay off that JC Penny card.
• 6:10
  SPEAKER_00: I've got no proof of that.
• 6:12
  SPEAKER_00: Then I reach out to my lender and I say, hey, Jack, you know, I you remember we had that conversation about me paying off the JC Penny card?
• 6:19
  SPEAKER_00: And Jack says, Yeah, yeah.
• 6:20
  SPEAKER_00: Oh, JC Penney?
• 6:21
  SPEAKER_00: I thought you said it was Kmart.
• 6:23
  SPEAKER_00: I know I'm I know I'm putting things in place that aren't there anymore.
• 6:26
  SPEAKER_00: But basically, another credit card.
• 6:28
  SPEAKER_00: In other words, he's basically saying that, yeah, he screwed up, but he's not going to take the full bronte of the blame.
• 6:34
  SPEAKER_00: Anyway, follow up with him in an email.
• 6:36
  SPEAKER_00: That goes with everybody in the process: your real estate agent, your lender, whomever.
• 6:42
  SPEAKER_00: Make sure you follow up with them in an email just to make sure you clarify everything.
• 6:46
  SPEAKER_00: So when it comes down to it and something happens, you've got their vetting and you have a record of it.
• 6:53
  SPEAKER_00: Super important.
• 6:54
  SPEAKER_00: All right.
• 6:54
  SPEAKER_00: So that's where we are.
• 6:55
  SPEAKER_00: Active under contract, properties 32, 56 pending, 60 closed this past week, which is very typical as of now, this time of year.
• 7:03
  SPEAKER_00: 25 expired, 13 canceled, 10 put on hold, and five have withdrawn from the market.
• 7:08
  SPEAKER_00: We're going to see real estate continue to slow down if the Fed's funds rate changes.
• 7:14
  SPEAKER_00: And if that impacts mortgage rates, we are going to be off to the races.
• 7:20
  SPEAKER_00: If you're looking at real estate, thinking about it, contact your lender, find out what a change in rate would look like for you today, and then gauge it up what might happen in the future.
• 7:32
  SPEAKER_00: Again, you can't bet on it, but it's not a bad idea if you were considering purchasing real estate.
• 7:38
  SPEAKER_00: If this is something that's going to happen with the Fed funds rate, and if that's going to impact mortgage rates, you've lost nothing, just a little bit of time.
• 7:45
  SPEAKER_00: And I know time is valuable, but if you're thinking about purchasing real estate, it might not be a bad idea to reach out to your realtor professional and then find out if they have somebody in the lending world that they're willing to recommend.
• 7:56
  SPEAKER_00: Now, having said that, this is how this should work.
• 8:00
  SPEAKER_00: The agent knows the people, the people, the lenders in the world.
• 8:04
  SPEAKER_00: They know them.
• 8:04
  SPEAKER_00: They know who's good, who's bad, they know who you should stay away from.
• 8:08
  SPEAKER_00: Again, agent selection, agents advice.
• 8:11
  SPEAKER_00: Lenders have the same kind of uh view of real estate agents.
• 8:15
  SPEAKER_00: It's not an anti-each other relationship, but you know, it kind of depends on the alignment.
• 8:20
  SPEAKER_00: There's some realtors out there that are very headstrong, very pompous, very arrogant, very ego-driven, very difficult to deal with, at least as far as I'm concerned.
• 8:29
  SPEAKER_00: I don't know where that comes from, but it's it's just it's just it's a lot to deal with.
• 8:34
  SPEAKER_00: Same thing with lenders.
• 8:35
  SPEAKER_00: There are a lot of there's some lenders out there that are just have that same kind of massive chip on their shoulder, that huge salt lick sitting up here, and they're incredibly salty, and they just that's how they work, that's how they operate.
• 8:47
  SPEAKER_00: Again, tough to deal with.
• 8:48
  SPEAKER_00: Both of those types of entities more than likely are gonna try to steer you into a particular lender or versus into a particular agent.
• 8:56
  SPEAKER_00: All right.
• 8:57
  SPEAKER_00: If you're dealing with that, I I wouldn't.
• 9:00
  SPEAKER_00: Here's what you need to look for: you look for an agent that if you bring a lender to the table, you're he's gonna give you the right questions to ask your lender.
• 9:08
  SPEAKER_00: If he has a recommendation for a lender, he's gonna give you the same questions to ask the lender he's referring to.
• 9:15
  SPEAKER_00: We're not taking food out of anybody's mouth.
• 9:17
  SPEAKER_00: We're just preparing you.
• 9:18
  SPEAKER_00: And on the lender side of it, if you go to lender, they should have questions that you should be asking your real estate.
• 9:23
  SPEAKER_00: What are you gonna pay in commission?
• 9:25
  SPEAKER_00: What are you gonna get for that commission payment?
• 9:27
  SPEAKER_00: Are you gonna try to get the commission from the seller via the seller's agent?
• 9:31
  SPEAKER_00: Is that gonna be part of your negotiation tactic?
• 9:34
  SPEAKER_00: How does it look on the closing end of it?
• 9:36
  SPEAKER_00: How do you formulate your responses?
• 9:38
  SPEAKER_00: What does your team look like?
• 9:40
  SPEAKER_00: Because in some cases, real estate agents have these mega teams.
• 9:44
  SPEAKER_00: They've opened up their own boutique brokerages, and now you're dealing with everybody in the pie besides the actual cherry you hired to do the deal.
• 9:54
  SPEAKER_00: So don't do that.
• 9:56
  SPEAKER_00: Make sure that you find or you know at least who you're dealing with.
• 9:59
  SPEAKER_00: And if you're comfortable dealing with a new person every day on the phone, trying to get an update or find out where you are, then that you be you.
• 10:06
  SPEAKER_00: But if you're not comfortable with that and you're hiring somebody because you want to deal with them, then you need to be smart and find out which agent that's going to fulfill, that's going to be able to fulfill your particular need.
• 10:16
  SPEAKER_00: All you have to do is go to Santa Clarita Openhouses.com.
• 10:20
  SPEAKER_00: You can check out the website there.
• 10:22
  SPEAKER_00: If you scroll down to the bottom, you can schedule a time with me.
• 10:25
  SPEAKER_00: That's my zoomme scv.com.
• 10:27
  SPEAKER_00: Zoommescv.com.
• 10:29
  SPEAKER_00: We'll talk about real estate, talk about where you are, develop a game plan together, and find out where your mind should be when it comes to approaching real estate.
• 10:38
  SPEAKER_00: And we'll do that very gently and very easily.
• 10:41
  SPEAKER_00: I'm Connor with Honor.
• 10:42
  SPEAKER_00: Thank you so much for watching.
• 10:43
  SPEAKER_00: We will see you tomorrow in the next show.
• 10:45
  SPEAKER_00: I'll post this up at Santa Clarita openhouses.com, main system, and uh let me know how you're doing.
• 10:53
  SPEAKER_00: Hope you like the video games in the background.
• 10:54
  SPEAKER_00: I thought that would be fun to display.
• 10:56
  SPEAKER_00: Be well, we'll see you tomorrow.
• 10:58
  SPEAKER_00: Take care.
• 11:02
  SPEAKER_00: I found it.