Latest / Connor with Honor: AI, Real Estate and Real Life / Canyon Country Homes Are Selling in 35 Days

Transcript

Canyon Country Homes Are Selling in 35 Days · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Good day, everybody.
• 0:00
  SPEAKER_00: We're here at the 4th of July.
• 0:02
  SPEAKER_00: I'm Connor McIver.
• 0:03
  SPEAKER_00: Let's talk about what's happening in real estate.
• 0:05
  SPEAKER_00: I did a breakdown of Canyon Country today, specifically Canyon Country.
• 0:09
  SPEAKER_00: And out of that area, I was asking the inquiry, I was looking at the data, anything from 1,500 to 2,500 square feet, just so we can kind of get close to apples and apples.
• 0:18
  SPEAKER_00: Three bedroom, two-bath.
• 0:20
  SPEAKER_00: How long is it taking those properties to sell in a six-month average?
• 0:23
  SPEAKER_00: 35 days.
• 0:25
  SPEAKER_00: So that's it.
• 0:26
  SPEAKER_00: That's all that's taking to sell homes in Canyon Country that are from 1,500 to 2,500 square feet, three-bedroom and also around two bathroom houses, single-family residences, 35 days.
• 0:38
  SPEAKER_00: That's it.
• 0:39
  SPEAKER_00: We have seen that number increase as of the last three or four months.
• 0:43
  SPEAKER_00: And then with the economy and the changes that look like might happen, we might actually have a reduction on that Fed funds rate.
• 0:49
  SPEAKER_00: If that does happen, mortgage rates will probably respond in short order.
• 0:54
  SPEAKER_00: It's just going to depend on how much of an adjustment there will be.
• 0:57
  SPEAKER_00: Typically, mortgage rates are based on a 10-year bond.
• 1:00
  SPEAKER_00: However, whenever that Fed funds rate is messed with, we do see either increases or decreases in the actual mortgage interest rate.
• 1:08
  SPEAKER_00: If you've been talking with a lender, now might not be a bad time to reach out, kind of see where rates are, because they have been trickling down with the economy being stronger and more robust for you out there maybe looking to purchase real estate.
• 1:21
  SPEAKER_00: On the seller's end of it, real estate sellers, they're enjoying, probably not enjoying, but they are having longer days on market time frames.
• 1:28
  SPEAKER_00: That's probably going to come down considerably if in fact the Fed's fund rate or the interest rates themselves start to decline here in the next two or three months.
• 1:38
  SPEAKER_00: And I think that's probably going to be a more sooner than later thing, but we'll keep our eyes out for it.
• 1:43
  SPEAKER_00: Santa Clarita Open Houses, you'll be able to see everything currently for sale, plus my blog.
• 1:47
  SPEAKER_00: So please check that out.
• 1:48
  SPEAKER_00: I'm Connor with Honor.
• 1:50
  SPEAKER_00: Thank you for watching.
• 1:50
  SPEAKER_00: I hope your July 4th is fantastic.
• 1:53
  SPEAKER_00: Don't blow off a finger.
• 1:54
  SPEAKER_00: And be good to each other and uh keep your wear some protective goggles if you're going to be blowing things up.
• 2:00
  SPEAKER_00: Connor with Honor, over and out.