Latest / Connor with Honor: AI, Real Estate and Real Life / 225 Santa Clarita residential listings in escrow as of today, February 11, 2025 via Santa Clarita Open Houses

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225 Santa Clarita residential listings in escrow as of today, February 11, 2025 via Santa Clarita Open Houses · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Everybody, let's look at the 11th of February 2025.
• 0:03
  SPEAKER_00: Today is that day.
• 0:04
  SPEAKER_00: We are at Tuesday.
• 0:06
  SPEAKER_00: We just came through the Super Bowl weekend looking at the real estate inventory here in Santa Clarita Valley and then talking about some things that I believe are on sellers' minds and buyers' minds here as we are dealing with the new administration and the government and all those changes that seem to be happening hand over fist.
• 0:23
  SPEAKER_00: Now those changes haven't really stopped the way that real estate is performing as far as very typically listings coming onto the market in the first part of the year.
• 0:34
  SPEAKER_00: That usually is more than the rest of the year, talking about first quarter into about mid-second quarter.
• 0:41
  SPEAKER_00: That typically in most years, that's when most of the listings are going to be entering the market, at least in overabundance comparatively with the holiday season.
• 0:49
  SPEAKER_00: That being said, we also usually get a very similar buyer drive depending on what kind of cycle the market happens to be in.
• 0:57
  SPEAKER_00: Right now we're in a seller's market.
• 0:59
  SPEAKER_00: So when a property does come on the market, it's priced correctly.
• 1:02
  SPEAKER_00: It doesn't last on the market very long.
• 1:04
  SPEAKER_00: In Santa Clarita Valley, that not very long term usually refers to 10-15 days before that property gets into escrow.
• 1:11
  SPEAKER_00: Now it's going to depend on where the property is located and also the demand, because we do see for real estate listings, depending on where they're located, that's going to depend on schools, paseo access typically, if people are really into that sort of thing, location of malls.
• 1:26
  SPEAKER_00: Also, commute access to the freeway.
• 1:28
  SPEAKER_00: The different two arteries out here we have the five freeway and also the 14 freeway over on the east side of Santa Clarita.
• 1:35
  SPEAKER_00: That's also going to depend on how fast properties sell as well.
• 1:39
  SPEAKER_00: So talking about current inventory today, we have 528 total active listings all across the Santa Clarita Valley cities.
• 1:48
  SPEAKER_00: I will put together that we have 14 properties that are coming soon.
• 1:51
  SPEAKER_00: One of the things to know about those properties is to get access to those, you just have to go to Santa Clarita Openhouses.com and forward slash coming soon.
• 2:00
  SPEAKER_00: Santa Clarita Openhouses.com forward slash coming soon.
• 2:03
  SPEAKER_00: So that's going to be that number.
• 2:05
  SPEAKER_00: And then those active listings, as I talked about with the coming soon, are going to total that 528 total properties all across the Creative Valley.
• 2:15
  SPEAKER_00: Now something that has occurred here currently, and people don't often talk about this.
• 2:20
  SPEAKER_00: There are 225 properties in escrow, in the escrow process.
• 2:25
  SPEAKER_00: These properties have had contracts written on them, have been vetted, have been probably bantered back and forth, countered, and now these properties are actually in that process.
• 2:36
  SPEAKER_00: So there's a potentiality within now in the next 30 days to have 225 properties sell in the Santa Clarita Valley.
• 2:44
  SPEAKER_00: As far as what's happening with those, there are going to be a number of those that do not close and go back on the market for sale.
• 2:51
  SPEAKER_00: There's going to be some of those that are actually just cancel out where those sellers will decide not to continue the sales process.
• 2:57
  SPEAKER_00: And then we'll see some of those properties actually not get an additional offer for whatever reason.
• 3:02
  SPEAKER_00: Then they're going to get into the escrow and the cancel, excuse me, the expired or the canceled statuses.
• 3:08
  SPEAKER_00: We'll will have to watch.
• 3:10
  SPEAKER_00: Typically, the reason why somebody doesn't want to sell their property when they tried it before is maybe that price point isn't there that they had hoped for.
• 3:18
  SPEAKER_00: In addition to that, typically the people will relist with that agent when time comes around.
• 3:24
  SPEAKER_00: Also, people do change their mind, right?
• 3:26
  SPEAKER_00: People do have their properties on the market, they get beaten up a little bit by the system, and then they make decisions as to whether they're going to keep their property on the market, not keep their property on the market.
• 3:36
  SPEAKER_00: One of the things that I will tell you in reference to those contractual issues, talk to your agent about what happens later on if you happen to relist the house.
• 3:45
  SPEAKER_00: Are they going to use that same virtual tour and those professional photographs they had?
• 3:49
  SPEAKER_00: If you're going to go through and change things or update or switch things around because you believe that's going to give you more money and that's what it looks like on paper, then maybe new photographs might be something that the doctor ordered.
• 4:01
  SPEAKER_00: But there's always costs associated with those things.
• 4:04
  SPEAKER_00: So make sure you get that from your agent and find out if that's where you want to be.
• 4:08
  SPEAKER_00: For your buyers out there, we are talking about those buyer broker agreements.
• 4:11
  SPEAKER_00: Those come up quite often here in Santa Clarita Real Estate.
• 4:15
  SPEAKER_00: Every buyer that's shown a property has to sign one of those agreements.
• 4:19
  SPEAKER_00: There's a lot of small print there.
• 4:21
  SPEAKER_00: All the prints small, right?
• 4:23
  SPEAKER_00: So you want to read those and find out what it is you're actually signing, what you're going to be paying if the seller doesn't compensate your agent.
• 4:31
  SPEAKER_00: You're going to want to find out how many properties this is for.
• 4:34
  SPEAKER_00: Is it kind of for everything you're looking at?
• 4:36
  SPEAKER_00: You're looking, let's say, off golf course properties and you're hiring an agent that's a specialist in that area.
• 4:42
  SPEAKER_00: Maybe you want to get another agent for different types of properties.
• 4:45
  SPEAKER_00: Now we don't see that happening a lot, but when you start, you know, getting over in the Platinum Triangle there, the Hombie Hills, the Bel Air, those areas in Beverly Hills, you will find out that there are very specialist agents that are operating over there.
• 4:59
  SPEAKER_00: And a lot of it's kind of smoke and mirrors.
• 5:01
  SPEAKER_00: But you know, they're driving the fancy cars and the expensive clothing, and there you go.
• 5:05
  SPEAKER_00: It's a it's a whole shebang, a whole like when you go buy a really fancy car, which I've never had, but I've heard there is this experience that they want you to enjoy.
• 5:14
  SPEAKER_00: And that's the same thing working with those agents, a lot of pizzazz.
• 5:18
  SPEAKER_00: That's not there, folks.
• 5:19
  SPEAKER_00: That's not me.
• 5:20
  SPEAKER_00: All right, so talking about the real estate inventory as well.
• 5:23
  SPEAKER_00: I did pull some numbers with regard to the seven-day statistics for all of Santa Crita Valley, and we have 10 properties coming soon.
• 5:31
  SPEAKER_00: 65 properties have hit the market as new listings in the past seven days.
• 5:36
  SPEAKER_00: This is a big number.
• 5:37
  SPEAKER_00: 63 properties have had their prices changed, and most of those are reductions.
• 5:41
  SPEAKER_00: I know we were looking at the numbers yesterday that was high 50s.
• 5:44
  SPEAKER_00: Today, for this past week, we do have 63.
• 5:48
  SPEAKER_00: That's quite a bit.
• 5:49
  SPEAKER_00: Back on market properties 21.
• 5:51
  SPEAKER_00: These are the properties I was talking about.
• 5:52
  SPEAKER_00: So all of those 200 and some odd that are in escrow, not all of those are going to make it all the way.
• 5:58
  SPEAKER_00: They will actually, some of them will come back on the market just like these 21 have.
• 6:02
  SPEAKER_00: We have 23 properties that are in escrow in the last seven days, 36 have gone pending in the last seven days, 39 closed in the past seven days, three expired, 15 canceled, 11 have been put on hold, and five have been withdrawn from the market.
• 6:15
  SPEAKER_00: One of the things for buyers as well, just to talk about, if you're looking for a particular residence and you don't see it on the market, have your agent do research on those same type of residences and see if there's something that might have been canceled or withdrawn in the past several months, something that might fit that criteria.
• 6:33
  SPEAKER_00: I know I do this for my buyers all the time because you never really know, and all it takes is me going and banging on the door of that property, if of course they're not still under contract and finding out if they still want to sell.
• 6:45
  SPEAKER_00: And I do have a buyer, and then I introduce you guys, and then we try to make this work.
• 6:49
  SPEAKER_00: I'm Connor with Honor.
• 6:50
  SPEAKER_00: We will be back in the next one.
• 6:51
  SPEAKER_00: I do appreciate you watching.
• 6:53
  SPEAKER_00: Thank you very much.