Latest / Connor with Honor: AI, Real Estate and Real Life / Unlocking the Secrets of Santa Clarita's Booming Real Estate Market: Exclusive Insights & Opportunities with Connor with Honor

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Unlocking the Secrets of Santa Clarita's Booming Real Estate Market: Exclusive Insights & Opportunities with Connor with Honor · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: Hey, good day, everybody.
• 0:01
  SPEAKER_00: We're at August 4th, 4, 2024.
• 0:05
  SPEAKER_00: I'm Connor with Honor.
• 0:06
  SPEAKER_00: Welcome, viewers.
• 0:07
  SPEAKER_00: I do appreciate you watching.
• 0:09
  SPEAKER_00: Today we're going to be bringing you the facts of the current real estate market here in Santa Clarita Valley and Greater Los Angeles, keeping a focus on what matters to you.
• 0:18
  SPEAKER_00: Now, as far as the real estate realm goes, currently in the cities of Valencia, Stevenson Ranch, Saugus, Canyon Country New Hall, and Castac, here's the latest.
• 0:29
  SPEAKER_00: We have 15 new properties.
• 0:30
  SPEAKER_00: They're gearing up to enter the market.
• 0:32
  SPEAKER_00: They're known as what's called coming soon.
• 0:34
  SPEAKER_00: They're in that particular status.
• 0:36
  SPEAKER_00: Soon to be active, they have about 21 days.
• 0:38
  SPEAKER_00: In order to do that, some agents do that earlier than others.
• 0:42
  SPEAKER_00: If you want to see those listings, though, get those previews.
• 0:45
  SPEAKER_00: You're going to have to have your agent get it sent to you.
• 0:48
  SPEAKER_00: Most of the real estate syndication sites don't carry that information.
• 0:51
  SPEAKER_00: If you want to see those, you can go to Connorwithhonor.com and just give me the city and what you're looking for, and I'll be able to send you those preview listings as they come onto the market.
• 1:02
  SPEAKER_00: Well, as they come previously prior to them actually entering the active for sale market.
• 1:09
  SPEAKER_00: As far as this goes, so we have 15 properties are gearing up to enter the market.
• 1:13
  SPEAKER_00: 77 new listings have been posted for the Santa Cruz market this past week.
• 1:18
  SPEAKER_00: That is a big number.
• 1:20
  SPEAKER_00: And in fact, what I'm going to do quickly is I want to pull the real estate data as well so you can see what our totals are from this particular week as well.
• 1:31
  SPEAKER_00: So I'll do that as I continue on the broadcast.
• 1:34
  SPEAKER_00: I'll try to do that in the background here as I finish up.
• 1:38
  SPEAKER_00: So we have those coming soon listings that I did talk about.
• 1:42
  SPEAKER_00: And I'll show you what I did as far as those local numbers.
• 1:47
  SPEAKER_00: Last time I ran these was yesterday, and we're over 340.
• 1:53
  SPEAKER_00: So let's see where we are currently.
• 1:55
  SPEAKER_00: And this is looking at all the cities out here.
• 1:57
  SPEAKER_00: So right now we're at 366 active listings total.
• 2:01
  SPEAKER_00: This is all residential folks.
• 2:03
  SPEAKER_00: This is single-family residences, condominiums, and townhomes in all of the Santa Crita Valley cities.
• 2:09
  SPEAKER_00: So that's going to be Kenyon Country, New Hall, Castac, Saga, Stevenson Ranch, and of course Valencia.
• 2:16
  SPEAKER_00: So as far as we go with regard to our inventory, we also have seen, besides these 77 new listings posted, 23 properties have responded to the market dynamics.
• 2:29
  SPEAKER_00: So they basically had their prices adjusted.
• 2:33
  SPEAKER_00: This is typically the case when a seller either puts their property on the market too high and they're not getting their correct response, or it could be that this listing was actually in escrow, fell out of escrow, and because of the offers that were received or received prior to it going into escrow, or maybe just one offer where they expected many, they then change their pricing strategy and reduce that price in order to get more exposure for the property.
• 3:03
  SPEAKER_00: Because once a seller reduces it, even a little bit, it still climbs up to the top of the engines out there when you people are searching for real estate online.
• 3:12
  SPEAKER_00: So if you're looking in Songus at a property at$500,000, but you haven't seen anything, haven't seen anything you want to buy.
• 3:21
  SPEAKER_00: Whenever the seller reduces the price of the property, it's going to come back to the top and you'll be seeing it again as long as it corresponds to your price range.
• 3:30
  SPEAKER_00: That's what the renewing of the listings, how that works.
• 3:33
  SPEAKER_00: And currently, I'll give you some more information.
• 3:35
  SPEAKER_00: As far as those adjusted properties on 23, we also had 17 properties that pop back onto the market.
• 3:42
  SPEAKER_00: They were in escrow, looking like they were going to close at least up to some point, and then all of a sudden something changed.
• 3:49
  SPEAKER_00: So this is something that if you are a real estate buyer out there, you need to have your agent make sure they're aware of monitoring not only the price changes and reductions, but also those properties that have entered back onto the market trying to be sold because they fell out of escrow.
• 4:07
  SPEAKER_00: Those might be exceptional deals.
• 4:10
  SPEAKER_00: And if you're not paying attention, if somebody's not watching that for you, you might potentially miss them.
• 4:15
  SPEAKER_00: So that's important to know.
• 4:16
  SPEAKER_00: 31 properties went to active under contract, and 46 properties went pending.
• 4:21
  SPEAKER_00: These are properties that have gone into escrow in the last week.
• 4:25
  SPEAKER_00: That rate is pretty fast, not faster than the speed in which we're listing properties, but enough to keep the market very much in a seller's frame, keeping it seller heavy and causing a multiple offer situation.
• 4:40
  SPEAKER_00: Lots of people wanting to buy the same particular house, other people want to buy.
• 4:44
  SPEAKER_00: So we're watching as that unfolds.
• 4:46
  SPEAKER_00: One of the things I tell my clients when they're going in, they always want to know, especially when we have multiple offers, how much is enough.
• 4:56
  SPEAKER_00: In actuality, folks, you don't know.
• 4:58
  SPEAKER_00: You are bidding and competing against the other people trying to get the same residence.
• 5:04
  SPEAKER_00: You have to go in with your best.
• 5:06
  SPEAKER_00: After you've looked at the values, what you believe the home is worth, looked at the market, looked at your own wallet, looked at your financial ability and where your payment level is going to be at a particular purchase price.
• 5:21
  SPEAKER_00: Once you know those true numbers, then you can go in and you can make a solid offer.
• 5:27
  SPEAKER_00: What I tell my clients is if after doing all of that, they make the offer on the real estate and they still don't get it, it goes to somebody else, they did their best, and that house was not meant for them.
• 5:39
  SPEAKER_00: Let's move on.
• 5:41
  SPEAKER_00: But I always want our offer to be held in a high backup position.
• 5:45
  SPEAKER_00: So when it does come back available, we get first shot at it.
• 5:49
  SPEAKER_00: And I've had that happen three times so far, and we're only to April, and that's this year.
• 5:56
  SPEAKER_00: So make sure those listings that you have your agent write offers on, make sure that you have those continue to be monitored.
• 6:05
  SPEAKER_00: And even if it still shows under contract and active, this happens to me frequently.
• 6:10
  SPEAKER_00: I call up the other agents just to check in.
• 6:13
  SPEAKER_00: And once I do, I discover that it's teetering, maybe on the hinge of being canceled, coming back on the market, and we're able to go in nice and easy and write our offer.
• 6:24
  SPEAKER_00: And prior to it actually coming officially back, we're actually a swoop in, able to swoop in and resume the escrow, or at least get our escrow, our opportunity at escrow, and closing the property.
• 6:34
  SPEAKER_00: So that's something to understand about how the market works.
• 6:38
  SPEAKER_00: All right.
• 6:38
  SPEAKER_00: So besides those 17 properties coming back on the market, we had those 31 properties and the 46 both go into escrow.
• 6:46
  SPEAKER_00: In the last seven days, we've had 61 sales actually close escrow.
• 6:51
  SPEAKER_00: Now, what do the new listings mean for buyers?
• 6:53
  SPEAKER_00: It does mean more choices and opportunities, but for sellers, I wanted to answer the question how price adjustments affect them.
• 7:01
  SPEAKER_00: And it is the strategy to meet the market, potentially facilitating faster sales.
• 7:06
  SPEAKER_00: Now, for those monitoring their home's value or curious about market trends without immediately buying or selling plans, my services include comprehensive market monitoring, keeping you informed.
• 7:17
  SPEAKER_00: Whether you're buying or selling or simply just seeking knowledge and clarity and accurate information, that's very key.
• 7:26
  SPEAKER_00: As your real estate resource, of course, I'm here.
• 7:28
  SPEAKER_00: I am Connor with Honor.
• 7:30
  SPEAKER_00: This has been your Santa Clarita real estate update.
• 7:33
  SPEAKER_00: Another suggestion I have for buyers and closing, make sure that when you start to go through this pre-approval process, you understand the type of loan you're being offered by your real estate lender.
• 7:46
  SPEAKER_00: And a lot of times that clarity is going to be achieved through your real estate agent.
• 7:52
  SPEAKER_00: So if your real estate agent is referring you to a lender, as is the case in a lot of real estate scenarios, make sure that when you have that conversation with the lender, you understand exactly what your payment's going to be at a particular purchase price, understand how much money you're going to have to bring in as far as closing costs go.
• 8:15
  SPEAKER_00: And then take all of that information and go back to your agent that introduced you to the lender and say, What do you think?
• 8:23
  SPEAKER_00: And I know people are going to say, Well, I'm not a lender.
• 8:26
  SPEAKER_00: You know, you've been in the business a while.
• 8:28
  SPEAKER_00: You know something good and you know something bad.
• 8:31
  SPEAKER_00: As a real estate agent, just be forth uh at the forefront and tell your client what is good and what is bad and what you think.
• 8:38
  SPEAKER_00: And then if it really is bad, maybe you need to think about referring to somebody else in the future.
• 8:44
  SPEAKER_00: And even for that particular scenario, if somebody's trying to take advantage of somebody under your watch, Mr.
• 8:50
  SPEAKER_00: and Mr.
• 8:50
  SPEAKER_00: Real Estate, Mr.
• 8:51
  SPEAKER_00: or Mrs.
• 8:52
  SPEAKER_00: Real Estate Agent, watch out for your client.
• 8:54
  SPEAKER_00: Be well.
• 8:54
  SPEAKER_00: I'm Connor with honor.
• 8:56
  SPEAKER_00: Over and out.