Latest / Connor with Honor: AI, Real Estate and Real Life / Santa Clarita Real Estate Update: Market Trends, Equity Tips & Buyer Insights | April 17, 2024

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Santa Clarita Real Estate Update: Market Trends, Equity Tips & Buyer Insights | April 17, 2024 · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Hey everybody, I am Connor with Honor.
• 0:02
  SPEAKER_00: Today's your real estate update for Santa Clarita, April 17th, 2024.
• 0:06
  SPEAKER_00: I want to talk about in later later in today's show, talking about equity.
• 0:12
  SPEAKER_00: When should you be pulling out your home's equity?
• 0:14
  SPEAKER_00: Is there really a better time to do it?
• 0:17
  SPEAKER_00: And what if you have high credit interest credit card debt, should you be pulling out your house's equity to pay that off?
• 0:23
  SPEAKER_00: I would say absolutely not.
• 0:26
  SPEAKER_00: But we will talk about that here in just a moment.
• 0:28
  SPEAKER_00: Maybe give you some suggestions that might help you with regard to making decisions about pulling out your home's equity.
• 0:34
  SPEAKER_00: So the last seven days in Santa Clarita Valley, and I do these updates every single day.
• 0:39
  SPEAKER_00: Currently we have 12 coming soon listings.
• 0:42
  SPEAKER_00: 70 listings are brand new within the last seven days.
• 0:46
  SPEAKER_00: Price changes 40 back on market.
• 0:48
  SPEAKER_00: Properties 11.
• 0:49
  SPEAKER_00: We have 39 properties that have gone active under contract.
• 0:53
  SPEAKER_00: In addition to that, 51 listings are pending.
• 0:57
  SPEAKER_00: 55 listings have been closed in the last seven days.
• 1:00
  SPEAKER_00: And we see eight listings have expired, six listings had canceled, and 19 listings have been put on hold.
• 1:07
  SPEAKER_00: That's an indication of a very fast-paced market where there are multiple offers from buyers.
• 1:13
  SPEAKER_00: The rules are the on-hold status, typically should only be used, of course, in the event of, oh my gosh, I need to hold on off on future showings because there's been some kind of an incident that I don't want to expose the public to, for example.
• 1:29
  SPEAKER_00: That being the case, we see that sometimes in the industry is maybe being used because there are many offers.
• 1:37
  SPEAKER_00: And at the number of 18 or 19 listings being put on hold in the last, you know, seven days, pretty good indication we really have a fast market moving.
• 1:47
  SPEAKER_00: Plus, the other numbers indicate that you have the days on market time frames.
• 1:51
  SPEAKER_00: Typically, prices in Santa Clara are going to be moving into escrow within 7 to 11, 7 to 12 days, depending on the city out here.
• 1:59
  SPEAKER_00: That's our current market as of the 17th of April.
• 2:02
  SPEAKER_00: All right, so moving into local, other local market information, this is definitely still a seller's market.
• 2:09
  SPEAKER_00: We've seen that seller's market persist, persist for several years, several years now, but now this market is starting to begin to show the strains of the interest rates for home buyers.
• 2:22
  SPEAKER_00: Our listings, though, are low enough that keep the sellers being in control of the ball currently in real estate.
• 2:30
  SPEAKER_00: We have seen some sellers become more competitive when other listings come onto the market in their same neighborhood.
• 2:38
  SPEAKER_00: But in most cases, there are plenty of buyers to go for all the current listings that are very similar in the same neighborhoods within the same tracks in Santa Clita Valley.
• 2:49
  SPEAKER_00: All right, so that is that part of it.
• 2:51
  SPEAKER_00: I'm going to talk a little bit about home equity.
• 2:54
  SPEAKER_00: And there maybe are reasons, but the news cycle is such because people, folks, you're worth some money to some lenders out there.
• 3:02
  SPEAKER_00: And you're worth some money to some people because you want to pay some stuff off, or maybe go buy that fancy be pulling all your equity out of your residence.
• 3:09
  SPEAKER_00: Personally, I'd probably stay away from that.
• 3:12
  SPEAKER_00: If you're going to do anything with your equity, you definitely want to prioritize what you're going to be doing.
• 3:18
  SPEAKER_00: If you have 30 or 40 or 50 grand or whatever the number is in high interest credit card debt, and you're going to and these terms on these credit cards at that high interest rate, they were never meant for you to take that money and pay it off over 30 years.
• 3:36
  SPEAKER_00: Credit cards, and I know we all got them and we all got them charged up, and it's crazy, but they're really meant for temporary purchases and stuff that you're going to pay back.
• 3:47
  SPEAKER_00: My suggestion is this: look into your finances, see if there's another way to catch up and tackle the credit cards.
• 3:55
  SPEAKER_00: Your home equity should be used for things that are going to improve your home's value if you're going to even have to go there.
• 4:03
  SPEAKER_00: If you can use other monies, try to work other jobs, try to figure out other ways, and I know with the inflation, everything, it's difficult.
• 4:11
  SPEAKER_00: I'm just saying this, please, before you start believing that it's brighter on the other side of the fence, or your home equity is somehow going to be your saving grace, and it's going to be the last time you'll ever charge up your credit cards, up to a far-end point where they've gotten so out of control, and this is the last time, and you're going to pull, you know,$50,000 of equity out of your residence, you really need to think about that.
• 4:35
  SPEAKER_00: I know there's major life issues that pop up.
• 4:38
  SPEAKER_00: You're going to have disease and medical and other things that are going to be very, very expensive.
• 4:45
  SPEAKER_00: And in some cases, those events are financially incredibly taxing.
• 4:51
  SPEAKER_00: If you have to use what you have to pay to be able to survive, that's a whole different animal.
• 4:57
  SPEAKER_00: When you're looking at taking out your home equity, do your research, find out the best ways to do so.
• 5:04
  SPEAKER_00: Find out if there's a way that whatever entity is going to loan you the money, using your home as collateral, see if they have some kind of rule in place.
• 5:14
  SPEAKER_00: So if you really are going to do what you say you are going to do and take care of putting in new windows to improve your home's environmental profile, keep it cooler, keep the housing cost, the actual utilities lower.
• 5:29
  SPEAKER_00: What if it's going to be maybe putting in solar?
• 5:32
  SPEAKER_00: Maybe you want to pay the system off and not lease it.
• 5:35
  SPEAKER_00: Maybe you want to use it for that.
• 5:36
  SPEAKER_00: But whatever it may be, you need to see if it's going to be finance, it's going to financially make sense.
• 5:41
  SPEAKER_00: If those companies are going to loan you the money to do it, see if they have some rule in place that they need verification that you're actually using the money for that and not just using the money for the BMW.
• 5:53
  SPEAKER_00: Be careful with that.
• 5:54
  SPEAKER_00: All right, so that's Santa Clarita Real Estate.
• 5:56
  SPEAKER_00: We'll be back tomorrow to discuss what else is going on.
• 5:59
  SPEAKER_00: Current listings, total active in all the Santa Clarita Valley, 346.
• 6:04
  SPEAKER_00: That's going to be all of the Santa Clarita cities combined combined.
• 6:08
  SPEAKER_00: I'm Connor with Honor.
• 6:10
  SPEAKER_00: When you're ready, reach out to me.
• 6:11
  SPEAKER_00: I do a seven-day show broadcast.
• 6:14
  SPEAKER_00: Here's some of my online systems.
• 6:16
  SPEAKER_00: So this is going to be the from today's show.
• 6:18
  SPEAKER_00: That'll be the actual photograph I'll put there.
• 6:21
  SPEAKER_00: But I'm I'm I'm everywhere.
• 6:23
  SPEAKER_00: I do have a lot of systems in place.
• 6:25
  SPEAKER_00: Today we can go to my uh podcast network where you see is where I have all of the podcasts that I do.
• 6:33
  SPEAKER_00: These are the systems where I upload everything so you'll be able to see that I am syndicated.
• 6:38
  SPEAKER_00: And this is something that definitely does help when it comes to advertising and marketing listings, when you are able to get your clients homes in front of an entire world out there that has that is all about real estate, people looking to invest and purchase, and those podcast networks, people listen to the real estate shows, they absorb that information, and whenever I'm telling them to go to my site, Connorwithhonor.com, and look for more information about a particular listing, they land here and they make it happen.
• 7:13
  SPEAKER_00: And you can see I do posts from every single article that I do every single day and try to get those out there for the people.
• 7:20
  SPEAKER_00: I hope you're well.
• 7:21
  SPEAKER_00: Thank you so much for watching.
• 7:22
  SPEAKER_00: I'm Connor with Honor.
• 7:24
  SPEAKER_00: Have a great day.
• 7:25
  SPEAKER_00: Overnight.