Latest / Connor with Honor: AI, Real Estate and Real Life / Santa Clarita real estate market is holding steady with it's days on market timeframes as we enter February 2025

Transcript

Santa Clarita real estate market is holding steady with it's days on market timeframes as we enter February 2025 · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Teleprompters, I hate them, but today is the 29th of January, 2025.
• 0:05
  SPEAKER_00: So I'm not not going to use a teleprompter because it really takes away from everything.
• 0:10
  SPEAKER_00: This is going to be your Santa Clarita update.
• 0:12
  SPEAKER_00: I'm going to give you some information about dealing with new housing, how we do it with our clients, and then also talk to you about the inventory.
• 0:19
  SPEAKER_00: But right now, 469 total active listings on the market for sale as of this morning.
• 0:25
  SPEAKER_00: It's about five o'clock in the morning.
• 0:27
  SPEAKER_00: In addition to that, we have 13 of those listings that are coming soon.
• 0:32
  SPEAKER_00: That means they're not on the market yet.
• 0:34
  SPEAKER_00: You're not going to see those on syndication sites.
• 0:36
  SPEAKER_00: You have to have them emailed to you.
• 0:38
  SPEAKER_00: So if you have an agent, contact them.
• 0:40
  SPEAKER_00: If you don't, hit me up at Santa ClaritaOpenhouses.com forward slash coming soon, and I'll be able to get you those listings as they enter the market as the coming soon nature.
• 0:51
  SPEAKER_00: And then we can, of course, schedule some time to go look at those, hopefully before they get on the market, if that's even possible.
• 0:58
  SPEAKER_00: A little bit of finesse and could be a violation in some circles, but again, something to think about.
• 1:04
  SPEAKER_00: Talking about new housing, new residential real estate, the new builders, some of the things you want to know is what phase they're on.
• 1:10
  SPEAKER_00: How many phases are there going to be total?
• 1:13
  SPEAKER_00: And then how fast the phases are selling.
• 1:16
  SPEAKER_00: And between each phase, what are those changes in price?
• 1:19
  SPEAKER_00: And have they added any concessions per phase?
• 1:22
  SPEAKER_00: Maybe they haven't impacted price.
• 1:24
  SPEAKER_00: Maybe prices have been going up for a while, but they have been offering extra concessions, meaning presents or gifts or bonuses or discounts along the way to try to entice buyers.
• 1:36
  SPEAKER_00: That could indicate that you have a lot more negotiation power than you might think going in.
• 1:41
  SPEAKER_00: Usually the pricing of new housing, if the market's moving quickly, just like the resale market, is going to not be very negotiable because of the high competition rate.
• 1:51
  SPEAKER_00: But if you're able to go in and establish that they're not selling as fast as they had hoped, because the market has shifted, maybe the fires have impacted it.
• 2:00
  SPEAKER_00: Maybe buyers have just slowed down.
• 2:02
  SPEAKER_00: Maybe there really not be hope of interest rates coming down, could have slowed that buyer drive at the new housing centers, or maybe their extraordinary homeowners association dues, which we're seeing and Melaruz could also be playing a factor.
• 2:16
  SPEAKER_00: So then you might have more negotiation power.
• 2:19
  SPEAKER_00: I know with our clients, we're able to get these folks to come down quite a bit from their listing price and give extra concessions and extra things to those home buyers at no cost to the home buyers because the new home builder pays us to represent our clients.
• 2:34
  SPEAKER_00: In the resale market, properties are selling just about where their listing price is.
• 2:39
  SPEAKER_00: We do have some properties that have longer days on market time frames.
• 2:42
  SPEAKER_00: Of course, that means that the sellers are more negotiable in those cases, depending, of course.
• 2:47
  SPEAKER_00: But make sure that you keep yourselves updated, look at those values before going in, and make sure you get a net sheet from your lender.
• 2:54
  SPEAKER_00: I'm Connor with honor.
• 2:56
  SPEAKER_00: We'll see you in the next one.