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The Real Asking-vs-Closing Numbers in Santa Clarita · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Real estate, I know you love it as much as I do.
• 0:02
  SPEAKER_00: Let's get to the 24th of September and talk about some stuff here.
• 0:05
  SPEAKER_00: So everybody argues about asking price, but almost nobody checks it.
• 0:09
  SPEAKER_00: So here's what the Santa Clarita homes are actually closing at against what sellers are asked.
• 0:14
  SPEAKER_00: So I parsed this uh information together this morning via the Santa Clarita Open Houses CRMLS feed.
• 0:20
  SPEAKER_00: In there, you can go in there.
• 0:21
  SPEAKER_00: I have 11 years of a sold data.
• 0:23
  SPEAKER_00: That's incredibly important for people contemplating putting their house on the market.
• 0:27
  SPEAKER_00: Uh today I did a short video earlier talking a little bit about market recap and what's holding sellers back from putting their houses on the market.
• 0:34
  SPEAKER_00: And of course, it's two and three percent interest rate.
• 0:37
  SPEAKER_00: They call that the golden handcuffs.
• 0:38
  SPEAKER_00: That's where a lot of sellers are currently.
• 0:40
  SPEAKER_00: That's gonna have to equate to the pain being greater than their comfort right now.
• 0:45
  SPEAKER_00: So whenever that happens, then sellers will eventually move.
• 0:49
  SPEAKER_00: The other thing, though, that most sellers might not understand or know, you can actually assume somebody else's mortgage rate depends on the type of loan, depends on where the property is located, but that is a very common thing.
• 1:01
  SPEAKER_00: It happens.
• 1:02
  SPEAKER_00: Sellers that are leaving the California market, going into a less expensive market, and we do these relocations all the time, going to Tennessee or the Carolinas or Florida or Texas or Colorado or wherever, most of those markets are less expensive than the one here in Santa Clarita Valley.
• 1:19
  SPEAKER_00: So what we do is we track properties on the other end of this.
• 1:22
  SPEAKER_00: If you are going to be selling here and purchasing somewhere else, you know, you can you can sell here and then of course wait to purchase something else.
• 1:30
  SPEAKER_00: But if you want to try to work it out so everything closes at the same time, then you get your house listed here and then you start the hunt on the other end of it for these residences that have the mortgages that are able to transfer, and then you go hunt out that particular seller that has an assumable mortgage interest rate.
• 1:48
  SPEAKER_00: You're probably going to be leaving here with enough money to make that happen.
• 1:51
  SPEAKER_00: What do I mean by enough money?
• 1:53
  SPEAKER_00: Most of the times these people have equity in their residences that cuts out other buyers because they just don't have enough money to come in with to be able to not only just purchase the residence, but even to be able to assume their mortgage because that number has to be made up, caught up with.
• 2:08
  SPEAKER_00: So let's say they have, you know,$400,000 in equity and that's what you're bringing out there, then you could assume that mortgage by putting that$400 into it into the seller.
• 2:17
  SPEAKER_00: And then, of course, just assuming their mortgage, whatever that number looked like, which would be, of course, the cost of the residence, plus your$400 would be between you and the seller, but it would all be official, written out, nothing goes under the table.
• 2:28
  SPEAKER_00: But then if that mortgage was allowed to be assumable, then you just that's your house, and now you have that same mortgage that you had here in Santa Clarita Valley.
• 2:36
  SPEAKER_00: You want more information about that?
• 2:37
  SPEAKER_00: Santa Clarita Openhouses.com.
• 2:39
  SPEAKER_00: Now, this is what uh the what we're tracking right now in Santa Clarita.
• 2:43
  SPEAKER_00: So we got 29.6% of the properties are going over asking currently.
• 2:47
  SPEAKER_00: This is out of 199 eligible closings all across the Santa Clarita Valley.
• 2:52
  SPEAKER_00: This is everything residential in Santa Clarita, so hence eligible.
• 2:56
  SPEAKER_00: And yeah, I'm not great with my left hand making circles.
• 2:59
  SPEAKER_00: And then under asking 44.7% of properties are going out under asking price currently.
• 3:05
  SPEAKER_00: Uh sold over asking 13 days, sold under asking 44 days, and seller got 100% of their final asking.
• 3:11
  SPEAKER_00: Yeah, boy, missed that one.
• 3:12
  SPEAKER_00: Sellers got 100% of their final asking price, but only 98.8% of their original one, 39.2 had a recorded reduction.
• 3:20
  SPEAKER_00: Most of the times, if you're a seller out there thinking about a property, that 30-day figure is critical if you're considering uh doing some kind of a price adjustment.
• 3:28
  SPEAKER_00: Now, price adjustments don't have to be a lot.
• 3:30
  SPEAKER_00: Price adjustments serve two masters.
• 3:33
  SPEAKER_00: First master is, of course, your buyers are gonna start to see it because now it's gonna fall within a different strategy.
• 3:39
  SPEAKER_00: So buyers are searching typically in$10,000 or$50,000 increments.
• 3:44
  SPEAKER_00: Once you can get below that next$10,000 increment, then you're gonna be bringing in a whole bunch more buyers that are now able to see that residence.
• 3:52
  SPEAKER_00: If you were at$850, for example, or$859, and now all of a sudden you're coming down to$849, you've just breached that$10,000 figure.
• 4:02
  SPEAKER_00: And even stronger, a stronger position is be to be below that next hundred.
• 4:08
  SPEAKER_00: So if it was that and you wanted to do a massive price reduction and cut$50 off, and maybe that's where the value happens to be currently, then you would want to go to$799, right?
• 4:19
  SPEAKER_00: Instead of$800 or$810 or$815.
• 4:21
  SPEAKER_00: If you can make it to that under$800 figure, that's massive as far as what buyers are searching.
• 4:27
  SPEAKER_00: So that's where that is.
• 4:28
  SPEAKER_00: One of the things that I put up for the rest of this information, and I do this all the time.
• 4:32
  SPEAKER_00: Yeah, I'm gonna get that's horrible.
• 4:34
  SPEAKER_00: All right, so I fetched this this morning, 9 24, uh 9 24, 2026, 8 30 a.m.
• 4:40
  SPEAKER_00: Pacific Standard Time.
• 4:41
  SPEAKER_00: Let me show you what I'm uh talking about.
• 4:43
  SPEAKER_00: Do you see this here?
• 4:44
  SPEAKER_00: Sold.
• 4:45
  SPEAKER_00: That's one venue.
• 4:46
  SPEAKER_00: Also, if you want to see this particular show's information at my Santa Clarita Open Houses website, I have the Macbox Mac box.
• 4:53
  SPEAKER_00: In there, you're gonna punch in Valley Ask.
• 4:55
  SPEAKER_00: Let me do that so I can show you exactly what this reveals.
• 4:58
  SPEAKER_00: Let me just pull this up real quick.
• 5:00
  SPEAKER_00: So let me go back here.
• 5:01
  SPEAKER_00: So here we are at the Mac box.
• 5:02
  SPEAKER_00: We're gonna punch in Valley Asking.
• 5:04
  SPEAKER_00: And then once you do that, it's gonna show you the rest of this information.
• 5:08
  SPEAKER_00: It's gonna show you 272 out of the 831 homes for sale, been on the market 60 plus days.
• 5:14
  SPEAKER_00: So this is a trend.
• 5:15
  SPEAKER_00: We are trending into where we have been for a very long time in a seller's market.
• 5:20
  SPEAKER_00: We're starting the transition into a buyer's market.
• 5:23
  SPEAKER_00: It's not all the way done yet.
• 5:24
  SPEAKER_00: We still condos are already there, town homes are getting there, single family residences are getting there as well.
• 5:30
  SPEAKER_00: But you can come in here and look at this data and then, you know, get other ideas about what's happened.
• 5:35
  SPEAKER_00: If you want to see what's going on with your property, fill this out.
• 5:38
  SPEAKER_00: I'll get back to you.
• 5:38
  SPEAKER_00: And of course, if you just want to talk to me, you can do that as well, and I will take great care of you.
• 5:43
  SPEAKER_00: I'm Connor McIver.
• 5:44
  SPEAKER_00: Check it out, Santa ClaraOpenhouses.com.
• 5:47
  SPEAKER_00: Again, into the Mac box just to cover this, punch in Valley Asking, and you'll be able to get the data.
• 5:52
  SPEAKER_00: Every show that I do every day, I have a cute little Mac box phrase that I punch.
• 5:56
  SPEAKER_00: This is the real aggregated CRMLS data for real estate listings.
• 6:01
  SPEAKER_00: They're all right here.
• 6:02
  SPEAKER_00: You'll see them all, they pop up.
• 6:03
  SPEAKER_00: I also put coming soon here as well.
• 6:06
  SPEAKER_00: These are properties that are not actually on the for sale market, but this is all no BS.
• 6:12
  SPEAKER_00: This is the real stuff.
• 6:13
  SPEAKER_00: I coded this site, I put it together.
• 6:15
  SPEAKER_00: It's got all the information here.
• 6:17
  SPEAKER_00: And uh let me know how you like it.
• 6:19
  SPEAKER_00: If you see something that you're like, God, I really wish it did this.
• 6:22
  SPEAKER_00: Hey, hit me up with a DM, hit me up with a text message, and I'll uh if I think it's a good idea, I'll bring it to life and I'll give you attribution.
• 6:30
  SPEAKER_00: Attribution?
• 6:31
  SPEAKER_00: Connor with honor.
• 6:32
  SPEAKER_00: We'll see you in the next one.
• 6:32
  SPEAKER_00: Thanks for watching.