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Navigating the Santa Clarita Real Estate Market as a Buyer · Connor with Honor: AI, Real Estate and Real Life

• 0:04
  SPEAKER_00: Everybody, my job as your agent is to give you the information that you need to be able to make better decisions.
• 0:10
  SPEAKER_00: If you currently own real estate, my mission is to keep you updated on the real estate you own.
• 0:15
  SPEAKER_00: If you've never bought anything and you want to, my job would be to facilitate that process to help you get what you need.
• 0:23
  SPEAKER_00: Good day, everybody.
• 0:24
  SPEAKER_00: March 5th, 2024.
• 0:26
  SPEAKER_00: I'm Connor with Honor.
• 0:27
  SPEAKER_00: A lot of value proposition talking lately, where people are wanting to know why they should hire a particular agent over another agent when it comes to purchasing or even selling real estate.
• 0:38
  SPEAKER_00: That's an age-old conversation.
• 0:40
  SPEAKER_00: And there's a lot of things that people can tell you.
• 0:42
  SPEAKER_00: But really the truth of the matter is, is where you find them online, how they're interacting and what kind of value they're giving is really going to be critical to the hiring process.
• 0:54
  SPEAKER_00: What are they doing to educate people out there with regard to real estate?
• 0:59
  SPEAKER_00: Of course, it's been the wild, wild west in almost every endeavor out there.
• 1:03
  SPEAKER_00: Real estate is not separate from that, meaning that there are a lot of outliers and people that really don't like the process, then there are people that love the process.
• 1:12
  SPEAKER_00: But at the end of the day, hiring a professional to be on your side to help you through all of that is important.
• 1:19
  SPEAKER_00: And then the value they add with their training and experience and knowledge, having gleaned that since 1998 for myself at least, I see a lot of things that go wrong, and I try to stop those things from happening because I have somewhat of a preemptive view because of my past experience.
• 1:38
  SPEAKER_00: Let's talk a little bit about real estate, what's going on today.
• 1:40
  SPEAKER_00: Today's our Tuesday's broadcast.
• 1:42
  SPEAKER_00: We do have real estate inventory.
• 1:44
  SPEAKER_00: The numbers have been increasing.
• 1:46
  SPEAKER_00: Let me go ahead and look at that real quick.
• 1:48
  SPEAKER_00: I'm going to cover both the Santa Clarita Valley and also the Antelope Valley, Greater Antelope Valley, which is going to be Lancaster and Palmdale, that area.
• 1:58
  SPEAKER_00: I happen to be a new, not a new, a reaffiliation at their board.
• 2:03
  SPEAKER_00: And uh because now have clients out there.
• 2:06
  SPEAKER_00: So when you want to sell something or represent buyers, you have to be a member of that multiple listing service.
• 2:11
  SPEAKER_00: One thing that I've discovered though, there are a lot of agents that have listings that are not members of that local system.
• 2:17
  SPEAKER_00: Sellers beware, something to consider if you do happen, if you happen to have hired one of those agents that is not a member, you might want to rethink that process because they should be an affiliate member.
• 2:29
  SPEAKER_00: And if they're already a member at another board of realtors, it's not expensive, it's not that big of a deal for them to join.
• 2:37
  SPEAKER_00: So then the agents that only function in L Valley will be able to see those listings as they are for sale.
• 2:44
  SPEAKER_00: 317 active listings and all of Santa Clarita Valley.
• 2:48
  SPEAKER_00: That is up from last week, where we were just in the high 200s, so we have gained some inventory.
• 2:54
  SPEAKER_00: However, that inventory is continuing to increase, but we still have a very high buyer's drive.
• 3:00
  SPEAKER_00: I did a show yesterday reading the news articles online as I prepare for every daily show.
• 3:07
  SPEAKER_00: I did see information about the United Kingdom, which is in a buyer's market, apparently, from the news information I read.
• 3:13
  SPEAKER_00: Then I had to pull myself out of that hole because, oh my gosh, what a big panic point to see how things could change overnight.
• 3:20
  SPEAKER_00: Well, in fact, we're not in a buyer's market here in Santa Clarita or Greater Los Angeles or Southern California for that matter.
• 3:27
  SPEAKER_00: Definitely in a seller's heavy market, meaning there aren't very many listings for sale.
• 3:31
  SPEAKER_00: We still have a very high buyer drive.
• 3:33
  SPEAKER_00: So the sellers are basically getting a premium on the real estate listings that they're selling.
• 3:37
  SPEAKER_00: In addition to that, the negotiation process with the sellers is a little bit more cumbersome because you're facing, as a real estate buyer, multiple other offers, other buyers that are very interested in the house that the seller has their agent selling for them.
• 3:53
  SPEAKER_00: So that being the case, you're running into a lot of obstacles when it comes to just getting that one house that you really love to buy.
• 4:00
  SPEAKER_00: There are ways to assist with that.
• 4:02
  SPEAKER_00: So a good buyer's agent are going to try to walk you through those ways.
• 4:07
  SPEAKER_00: And part of it is going to start with that phone call that your lender, the lender you're using, makes to that listing agent after the offer is submitted.
• 4:16
  SPEAKER_00: Now, of course, I call the listing agent as well.
• 4:18
  SPEAKER_00: I introduce myself if I don't already know them.
• 4:21
  SPEAKER_00: Hey, I'm Connor McIver.
• 4:22
  SPEAKER_00: I got some great people that want to buy this residence.
• 4:25
  SPEAKER_00: They've been fully approved, and we are submitting an offer for X amount of dollars with these particular terms.
• 4:31
  SPEAKER_00: Is there anything else that your seller may require that is not on the multiple listing sheet or not in the private comments that my buyers might be able to use to write a cleaner offer for your seller, thereby maybe stopping any kind of countering or anything else, depending on competition and so on.
• 4:49
  SPEAKER_00: Usually at that point, the agent will give me the information that I need for my sellers, and a lot of it has to do with who the selling, the selling entity wants to have for, let's say, their escrow or their title officer, who they want assigned to those things, and potentially maybe even a home warranty company.
• 5:08
  SPEAKER_00: So these are things that typically are put together prior to an offer is constructed.
• 5:13
  SPEAKER_00: So I have the conversation.
• 5:17
  SPEAKER_00: Is there any negotiation or wiggle room in the price?
• 5:20
  SPEAKER_00: What if my clients need closing costs?
• 5:23
  SPEAKER_00: So I'm figuring out all that information from the home seller or the home seller's agent.
• 5:28
  SPEAKER_00: But then as part of that, it's important that my client's lender also give the seller's agent a call.
• 5:38
  SPEAKER_00: Hey, this is so on and so forth.
• 5:40
  SPEAKER_00: I represent these people.
• 5:41
  SPEAKER_00: I understand Connor McIver sent you an offer.
• 5:44
  SPEAKER_00: I am their lender.
• 5:46
  SPEAKER_00: I work for this company.
• 5:47
  SPEAKER_00: I've been doing this for this long.
• 5:49
  SPEAKER_00: I've seen a lot of paper.
• 5:51
  SPEAKER_00: These people happen to have this FICO score.
• 5:54
  SPEAKER_00: They're very well qualified.
• 5:55
  SPEAKER_00: They've been in their employment for X amount of years.
• 5:58
  SPEAKER_00: They have a very low debt-to-income ratio.
• 6:00
  SPEAKER_00: They do have the funds to close escrow with this particular type of loan.
• 6:04
  SPEAKER_00: If things come up, they might have additional funds to do additional inspections.
• 6:08
  SPEAKER_00: Whatever it may be, that is how that's supposed to be talked to with a listing agent as a lender.
• 6:17
  SPEAKER_00: Sometimes lenders go outside the box and they start talking about all sorts of other stuff.
• 6:23
  SPEAKER_00: Then they start hocking it up about whatever.
• 6:27
  SPEAKER_00: That's not the job of the phone call.
• 6:29
  SPEAKER_00: The job of the lender's phone call is to make the introduction.
• 6:33
  SPEAKER_00: Even if them and the other agent go back way back, that's fine, but we want to keep it professional because we're not out going to go have a beer on the veranda.
• 6:43
  SPEAKER_00: We want to have something happen.
• 6:46
  SPEAKER_00: We want my clients, my buyers, to be set forth in that agent's mind as being spectacular and just give the truth.
• 6:56
  SPEAKER_00: Because, as you know, you can have a client that might not have been run through the ringer as far as getting approved versus a client that has been given all the opportunity and has given everything that the lender needs to fully approve them in the lending process.
• 7:16
  SPEAKER_00: That is the buyer that should be presented to the seller's agent.
• 7:21
  SPEAKER_00: That is the buyer that you should, if you're an agent, you should be representing.
• 7:26
  SPEAKER_00: So that's the job of the lender at that point.
• 7:28
  SPEAKER_00: So they go forth and they explain that this buyer is fantastic and they just back it up with fact.
• 7:34
  SPEAKER_00: And then after that point, we see what happens.
• 7:37
  SPEAKER_00: Are we going to get a response?
• 7:38
  SPEAKER_00: Are we going to get a counter?
• 7:39
  SPEAKER_00: Are there multiples?
• 7:40
  SPEAKER_00: But the agent needs to be there throughout that part of the process, ready on the phone, answering.
• 7:45
  SPEAKER_00: No matter how late it is, I got an email last night at 1 a.m.
• 7:49
  SPEAKER_00: telling me that a client's offer was accepted.
• 7:52
  SPEAKER_00: And that's fantastic.
• 7:53
  SPEAKER_00: I'm not going to spring it on the clients at 1 a.m.
• 7:56
  SPEAKER_00: unless we have that together.
• 7:57
  SPEAKER_00: And we've talked about maybe springing something on them at 1 a.m.
• 8:01
  SPEAKER_00: But at the end of the day, at least they'll know by this time, which we're about 7 a.m.
• 8:06
  SPEAKER_00: in the morning, they know already that their offer was accepted.
• 8:09
  SPEAKER_00: So they're very happy.
• 8:11
  SPEAKER_00: But in regards to the monitoring, communication, those other facets of this business, it's important that the agent stays on top of all parties as a good buyer's representative.
• 8:22
  SPEAKER_00: On the seller's side, there are other factors that have to be at play.
• 8:26
  SPEAKER_00: The seller's agent needs to be responsive as well.
• 8:30
  SPEAKER_00: Even if they get a multitude of offers, every offer should be respected because those buyers and those buyers' agents took the time to look at the property, talk about it, explore it, get pre-approved, and then submit the offer and all the associated paperwork and have all of that explained.
• 8:49
  SPEAKER_00: It is not a simple process by any means.
• 8:53
  SPEAKER_00: So each one should be given the respect that it deserves and everybody deserves, and everybody that submits an offer should be honored in that way.
• 9:04
  SPEAKER_00: And that's what I believe as a real estate seller's representative as well.
• 9:08
  SPEAKER_00: So as far as inventory goes, we are up to 317 active units for sale.
• 9:12
  SPEAKER_00: That's not going to change any of the local dynamics as far as still being a seller's market.
• 9:18
  SPEAKER_00: Sellers are still controlling a majority of the mechanism.
• 9:21
  SPEAKER_00: Buyers, of course, when they go into properties, there are only a few agents that work with a majority of the real estate buyers here in Santa Clarita Valley as well.
• 9:29
  SPEAKER_00: So reputation is very dependent on the way offers are viewed from different agents that submit them.
• 9:36
  SPEAKER_00: Unfortunately, with everything, there's always a human element involved.
• 9:40
  SPEAKER_00: If there happens to be an agent that has a poor reputation, it doesn't help the clients.
• 9:45
  SPEAKER_00: How you find out about that?
• 9:47
  SPEAKER_00: You'll kind of figure it out.
• 9:48
  SPEAKER_00: When you start talking to the agent that you're about to potentially hire, how do they speak?
• 9:53
  SPEAKER_00: Do they give you a chance to talk?
• 9:55
  SPEAKER_00: Are they totally running you over?
• 9:57
  SPEAKER_00: And do you feel like you're sitting with your mom or dad that you might not have had a lot of respect for, or maybe a teacher or some other advisor that you've had in your past that seems a little heavy and a little too hard to actually move through any kind of process with any liquidity?
• 10:13
  SPEAKER_00: My suggestion is you interview and you talk to people.
• 10:17
  SPEAKER_00: You find out who is the best fit for you.
• 10:20
  SPEAKER_00: Then you look online and say, hey, what's this cat doing or cat S doing online in order to help people with regard to their craft?
• 10:31
  SPEAKER_00: I represent buyers and sellers of homes.
• 10:33
  SPEAKER_00: Other agents do as well.
• 10:35
  SPEAKER_00: I honor my craft by daily dissertation of real estate news and information.
• 10:41
  SPEAKER_00: Everything I find online, I do my best to talk about if it affects my buyers and my sellers, past, present, or future.
• 10:50
  SPEAKER_00: I'm Connor with Honor.
• 10:52
  SPEAKER_00: Thanks so much for watching today's show.
• 10:53
  SPEAKER_00: We'll be back tomorrow.
• 10:54
  SPEAKER_00: Tomorrow is our Hump Day Foreclosures broadcast.
• 10:57
  SPEAKER_00: Exciting.
• 10:58
  SPEAKER_00: We'll be able to talk about the inventory that doesn't exist as far as distressed properties and how you might not be able to get a good deal on them because there's just not that many out there for sale.
• 11:07
  SPEAKER_00: However, as some opinions have it, the market's going to shift, and that shift, they say, is going to be horrible.
• 11:14
  SPEAKER_00: I don't see that happening in the next several years, but we'll keep our eyes on it, and you can bet that Connor with Honor will give you his daily real estate update, whether you need it or not.
• 11:24
  SPEAKER_00: Have a great day.
• 11:25
  SPEAKER_00: Let me know if I can help you.
• 11:26
  SPEAKER_00: Be well.
• 11:27
  SPEAKER_00: I am Connor with Honor.
• 11:29
  SPEAKER_00: Over now.