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Mastering the Market: Santa Clarita's Real Estate Secrets for Sellers · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Good morning, good afternoon, good evening, Santa Clarita.
• 0:02
  SPEAKER_00: Today's April 9th, 2024.
• 0:05
  SPEAKER_00: I'm Connor McIver, Connor with Honor, local Santa Clarita Real Estate Agent.
• 0:08
  SPEAKER_00: Today I'm going to talk about the seven things that sellers should be doing in order to prepare their house for sale.
• 0:16
  SPEAKER_00: Whenever that time happens to come, these are the seven things.
• 0:19
  SPEAKER_00: I'm going to get into that shortly, but I want to cover some local real estate news here in Santa Clara Valley and show you the current inventory and talk just a little bit about the market as I do every single day.
• 0:29
  SPEAKER_00: This is the snapshot from the past seven days.
• 0:32
  SPEAKER_00: Currently, as of today on Tuesday, 13 properties have hit the market or about to hit the market in the next seven days.
• 0:40
  SPEAKER_00: These are coming soon listings.
• 0:41
  SPEAKER_00: So these listings, excuse me for stumbling, these listings have to do with those properties that are currently staged to be released onto the market, but are coming soon.
• 0:52
  SPEAKER_00: So they should be released within a 21-day period, sometimes faster, but never longer.
• 0:57
  SPEAKER_00: That's the limit imposed by the multiple listing service at the Board of Realtors.
• 1:02
  SPEAKER_00: So agents that have listings coming in sometimes will use this strategy in order to build interest lists and also to make the sellers really see how the advertising and marketing aspect of that agent's particular business really, really does perform.
• 1:18
  SPEAKER_00: And that is because coming soon listings aren't really able to be seen for public preview.
• 1:24
  SPEAKER_00: They are coming through agents to their clients directly.
• 1:27
  SPEAKER_00: And in most syndication sites, you're not seeing them at all.
• 1:30
  SPEAKER_00: So the coming soon listing really is the time for that agent to shine and really show what they're what they're made of as far as the advertising and marketing campaigns like we do for our clients, which are all AI enhanced, and they work towards moving that property in front of more eyeballs than any other system that's out there.
• 1:48
  SPEAKER_00: It's fantastic.
• 1:49
  SPEAKER_00: But anyway, back to the show.
• 1:50
  SPEAKER_00: So 71 homes were listed in the past seven days.
• 1:53
  SPEAKER_00: So these are new listings that have come onto the market.
• 1:55
  SPEAKER_00: 45 listings have had their prices changed in the past seven days.
• 1:59
  SPEAKER_00: The listings that have had their prices changed, a majority of those are reductions.
• 2:04
  SPEAKER_00: We do see some increases occasionally.
• 2:07
  SPEAKER_00: Those are typically mistakes upon entering the actual listing price for the property and getting it submitted and publishing it online.
• 2:16
  SPEAKER_00: Sometimes publishing happens too quickly and people move it a little too fast.
• 2:21
  SPEAKER_00: So anyway, it shows a price increase, or in some cases, that also applies to price reductions.
• 2:27
  SPEAKER_00: Back on market properties, we have 28 properties that have actually fallen out of escrow.
• 2:32
  SPEAKER_00: People ask what that's about.
• 2:33
  SPEAKER_00: A lot of times that has nothing to do with the property that's being purchased.
• 2:37
  SPEAKER_00: It has to do with the buyers having some sort of a problem that allows them or stops them from being able to progress in escrow.
• 2:46
  SPEAKER_00: Job loss, maybe they went out and financed something, ran something on their credit, maybe they injured their credit the time that they were in escrow.
• 2:54
  SPEAKER_00: Lots of things could happen, even things worse than that.
• 2:57
  SPEAKER_00: Death, disease, divorce.
• 2:59
  SPEAKER_00: All of these things happen and sometimes cause cancellations.
• 3:02
  SPEAKER_00: When you have a lot of properties that move into escrow, in any given market, you're bound to have a particular percentage of those that end up in canceling and then going at it again.
• 3:12
  SPEAKER_00: In our market, that's somewhere around 25 to 30% of the listings do actually come back onto the market in an attempt to be sold again.
• 3:20
  SPEAKER_00: And 95% of those actually make it all the way to the end a second time.
• 3:25
  SPEAKER_00: So not a problem.
• 3:26
  SPEAKER_00: All right, so 33 deals are now active under contract.
• 3:30
  SPEAKER_00: 44 are also pending.
• 3:32
  SPEAKER_00: So we're roughly 44, 54, 64, 74.
• 3:36
  SPEAKER_00: We're somewhere in about the 70s as far as what we see currently active or under contract in Santa Clarita.
• 3:44
  SPEAKER_00: These are properties that are in escrow going to close.
• 3:47
  SPEAKER_00: Closed sales, 57 properties closed the last seven days.
• 3:50
  SPEAKER_00: All right, so overall figures here, just to let you know before we get into the seven things every homeowner should do before listing their Santa Clarita home for sale.
• 4:00
  SPEAKER_00: We're going to look at the daily inventory real quick, and I'm going to run down here and check on all of Santa Crita Valley.
• 4:07
  SPEAKER_00: And what we're seeing here within the single family housing, condominiums, town homes, everything all total, 377 listings currently on the market for sale.
• 4:18
  SPEAKER_00: 17 of those currently, not the seven-day history, but the actual snapshot at this moment, 17 of those are coming soon listings.
• 4:27
  SPEAKER_00: If you want to get a preview of those, you can go to Connorwithhonor.com and I'll have those posted up.
• 4:33
  SPEAKER_00: Try to do it every day a link up at the top.
• 4:35
  SPEAKER_00: You'll see it and you'll be able to click on it and then see those.
• 4:38
  SPEAKER_00: All right.
• 4:38
  SPEAKER_00: So let's talk about the seven things that every seller needs to do to prepare their house for sale.
• 4:42
  SPEAKER_00: Right now, because the market is very much a seller's market, not a lot, but these are things that are really going to make the property pop.
• 4:50
  SPEAKER_00: And even if you're a seller, maybe in some kind of a distressed state, it still really is awesome to put that property in a really good showing way.
• 5:01
  SPEAKER_00: When buyers come in, they're going to remember it because a lot of sellers don't pay these attentions to detail.
• 5:07
  SPEAKER_00: Let's look at number one, deep clean and declutter.
• 5:11
  SPEAKER_00: They want to see counter space, they want to see all of the rooms moved, put back to their original intention, their original intended purpose.
• 5:19
  SPEAKER_00: You got a bedroom that you made an office years ago, put it back, make it back a bedroom again.
• 5:24
  SPEAKER_00: Believe it or not, it's a big deal.
• 5:26
  SPEAKER_00: So deep clean and declutter.
• 5:28
  SPEAKER_00: I'm talking Q-tip clean.
• 5:29
  SPEAKER_00: I'm talking maybe hiring a service, having people come out there and clean the tracks around the windows, all the screens, all the frames, everything in the house, cleaning it precisely.
• 5:40
  SPEAKER_00: Number two, this is something that people, other people in the industry don't like a lot, and I don't know why, but it's basically a seller's home inspection.
• 5:48
  SPEAKER_00: The buyer's going to come to your property and they're going to bring a home inspector at some point during the inspection process.
• 5:54
  SPEAKER_00: I tell my sellers it's not bad, already kind of having full answers to what that inspector is going to find anyway.
• 6:01
  SPEAKER_00: So you hire this seller home inspector, he prepares a report.
• 6:06
  SPEAKER_00: Now you have the information about your residence.
• 6:09
  SPEAKER_00: And of course, if these are things that are destroying your home in its current state, that's something that you're going to want to pay attention to now, anyway.
• 6:18
  SPEAKER_00: So, for example, if he finds a leak in a wall, you're not going to just want to leave that for the buyer, you're going to want to take care of it.
• 6:24
  SPEAKER_00: Because what if your house doesn't sell?
• 6:26
  SPEAKER_00: And I know in this market, I'm sure it will, but that's always a consideration to have before you start making decisions, at least kind of think a little globally about the situation.
• 6:37
  SPEAKER_00: Now, as far as what's happening currently with regard to the sellers, we see that most of the sellers out there are not super negotiable because it is completely their market.
• 6:48
  SPEAKER_00: But that's as far as cleaning, decluttering, you really want to make it look good.
• 6:52
  SPEAKER_00: That home inspection, really smart.
• 6:53
  SPEAKER_00: You might have the other home inspector come out and say something else is different besides the one you hired, but it's going to be very close.
• 7:01
  SPEAKER_00: Most of these cats out here that are doing home inspection, they're certified bonded.
• 7:05
  SPEAKER_00: And if they're anything like the people that I recommend, Brian, he is amazing.
• 7:10
  SPEAKER_00: Anything like him, you're going to be in great hands.
• 7:12
  SPEAKER_00: Period.
• 7:13
  SPEAKER_00: End of story.
• 7:14
  SPEAKER_00: Make the curb appeal better.
• 7:16
  SPEAKER_00: When people are driving up to a house that is for sale, they do like to see it pop.
• 7:20
  SPEAKER_00: And when you come up to a house that's got some nice little perennials there, the gardening, you got some red bark, you got things that have been done to the front, the yard is trimmed, you have everything clean.
• 7:32
  SPEAKER_00: Maybe the driveway has been power washed and sprayed, the sidewalks.
• 7:37
  SPEAKER_00: They just like to see it pop, not the cobwebs or any of the broken stuff as you walk up to the house.
• 7:44
  SPEAKER_00: Make it really, really pop.
• 7:46
  SPEAKER_00: Stage your home.
• 7:47
  SPEAKER_00: Something that has started to build is staging, and there's now enough statistics because it's not a really newer process, but the companies that go out and do it, that's more of a newer trend.
• 7:59
  SPEAKER_00: There's now statistics that staging homes actually equates to more money made by the seller.
• 8:05
  SPEAKER_00: Plenty to offset even the cost of staging, plus put more in their pocket.
• 8:09
  SPEAKER_00: I've seen those studies.
• 8:10
  SPEAKER_00: Again, depending on your market, it's going to depend on probably whether or not you're going to stage it.
• 8:17
  SPEAKER_00: But that's something also recommended.
• 8:19
  SPEAKER_00: Professional photography is a must whenever you get ready to list it.
• 8:23
  SPEAKER_00: But before you want it all set up and beautiful, get it all ready for to have those professional photography pictures taken.
• 8:31
  SPEAKER_00: Important.
• 8:31
  SPEAKER_00: No personal pictures.
• 8:32
  SPEAKER_00: If you have an I Love Me room, maybe you were law enforcement back in the day, like I was, or firemen, or military.
• 8:39
  SPEAKER_00: You folks, us folks, we love to have all of our crap, all the stuff that shows what we did and where we came from and what we went through, and we put it up on the walls.
• 8:49
  SPEAKER_00: People that come and look at your house, sometimes they get hung up on stuff.
• 8:53
  SPEAKER_00: Try to keep your house as vanilla as possible.
• 8:56
  SPEAKER_00: I mean, if you have an entire wall painted with the Eagle Globe and Anchor from the Marine Corps, and it's gorgeous and beautiful, well, I'm not asking you to primer it and cover it up.
• 9:07
  SPEAKER_00: But if you got a few pictures that are hanging around with you and your buddies or back in the day, or even personal family pictures, maybe you're those folks that really have a lot of internal pictures, love pictures on the walls.
• 9:21
  SPEAKER_00: The more they have, the better.
• 9:23
  SPEAKER_00: Because there's those folks out there too, and that's great.
• 9:25
  SPEAKER_00: Just not a fit for everyone.
• 9:27
  SPEAKER_00: But that would be a big case for depersonalization of that residence.
• 9:33
  SPEAKER_00: Because when people come in, they're gonna take away from what they need to be seeing, and that's the house that they want to buy, the house that you want to sell.
• 9:43
  SPEAKER_00: All right, so we get the per the photography removed, and also pricing it, of course, is incredibly important.
• 9:49
  SPEAKER_00: One of the seven.
• 9:50
  SPEAKER_00: You have to look at the pricing out there because if you go too high, even in this market, you're going to sit.
• 9:57
  SPEAKER_00: And then people start to have questions when a normal house in Santa Clarita currently is selling within seven to ten days, typically.
• 10:05
  SPEAKER_00: That's the time it goes on the market to the time it goes into escrow.
• 10:08
  SPEAKER_00: That's very short.
• 10:10
  SPEAKER_00: If your house happens to go 20 and 30 days, because it was overpriced in the beginning, that could create undue pressure on you when you would have been better off just getting a price set that was better in the beginning.
• 10:23
  SPEAKER_00: And if you if you sweet spot that, you're gonna end up in this market getting multiple offers on your property.
• 10:30
  SPEAKER_00: So you're gonna have these buyers competing against each other to buy your house.
• 10:34
  SPEAKER_00: Great place to be.
• 10:35
  SPEAKER_00: And finally, the marketing of your residence.
• 10:38
  SPEAKER_00: When you get ready to get into contract, that is super important to have as well.
• 10:43
  SPEAKER_00: You want to make sure that your house is not just being marketed in traditional channels, but the way that it's poised and built, it's put out there, and there is an enhancement on it from some kind of an AI, somebody that understands the AI model within real estate, somebody that's been read up on it, and somebody that utilizes its tools in every part of the process.
• 11:06
  SPEAKER_00: And I am one.
• 11:07
  SPEAKER_00: I'm Connor with Honor.
• 11:08
  SPEAKER_00: I do appreciate you watching.
• 11:10
  SPEAKER_00: That is your daily real estate update for Santa Clarita Valley Cities, and I will talk to you soon.
• 11:16
  SPEAKER_00: I am Connor with Honor.
• 11:17
  SPEAKER_00: Have a great day.
• 11:18
  SPEAKER_00: We'll see you tomorrow overnight.