Latest / Connor with Honor: AI, Real Estate and Real Life / Sudden drop in real estate inventory - will the rest of the United States follow suit, or is this just a temp move?

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Sudden drop in real estate inventory - will the rest of the United States follow suit, or is this just a temp move? · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: August 6th, everybody, 2025.
• 0:01
  SPEAKER_00: I'm Connor with Honor.
• 0:03
  SPEAKER_00: Strange things happen.
• 0:04
  SPEAKER_00: We had 30 more listings yesterday than today.
• 0:07
  SPEAKER_00: In fact, over the last 24 hours, we dropped 30 listings.
• 0:12
  SPEAKER_00: Have gone into escrow, and that's what is happening currently.
• 0:16
  SPEAKER_00: 10 coming soon listings in the last seven days, 74 new listings on the market.
• 0:20
  SPEAKER_00: 102 properties had their prices changed.
• 0:23
  SPEAKER_00: That's very common in this particular market.
• 0:26
  SPEAKER_00: 30 properties went back on market.
• 0:28
  SPEAKER_00: 34 went active under contract, 50 pending.
• 0:31
  SPEAKER_00: Closed 59, expired 13, 27 canceled, 21 held, 13 withdrawn.
• 0:37
  SPEAKER_00: That's a big number.
• 0:38
  SPEAKER_00: So we're now at 780 total active listings on the market for sale.
• 0:42
  SPEAKER_00: And that of those, we have 16 that are coming soon.
• 0:46
  SPEAKER_00: So the real estate market is moving along quite nicely.
• 0:49
  SPEAKER_00: In fact, we're watching as we're getting more and more inventory added to the market.
• 0:54
  SPEAKER_00: But as I said over the last 24 hours, we dropped from around 807 to 780.
• 1:00
  SPEAKER_00: So that's a big deal.
• 1:01
  SPEAKER_00: These properties actually closing escrow.
• 1:03
  SPEAKER_00: And we see this happening on a weekly basis, but this is a pretty big jump.
• 1:08
  SPEAKER_00: Just like a few weeks ago, we saw a massive jump from the 760s to 770s, breaching 800 total active listings on the market for sale.
• 1:17
  SPEAKER_00: One of the things I will tell you, buyers out there, super important, if you haven't talked to your lender lately, you might want to reach out to them because lending changes dramatically all the time, interest rates fluctuate up and down.
• 1:30
  SPEAKER_00: Even though you're not seeing a change in the Fed funds rate, that's the one the president and everybody else talks about all the time.
• 1:35
  SPEAKER_00: It does have an impact on interest rate, but not the most direct impact.
• 1:40
  SPEAKER_00: The most direct impact on interest rates is the 10-year bond.
• 1:44
  SPEAKER_00: That one fluctuates quite a bit.
• 1:45
  SPEAKER_00: And whether people are more confident in the economy in the United States, it could increase that particular level.
• 1:52
  SPEAKER_00: If they're less excited about the economy, again, it causes that value to fluctuate.
• 1:57
  SPEAKER_00: And that's the one that has the most impact on mortgage rates.
• 2:00
  SPEAKER_00: So if you watch a mortgage rate, look at one today that you're being quoted by a lender.
• 2:05
  SPEAKER_00: Tomorrow it may be different.
• 2:07
  SPEAKER_00: Monday it might be different.
• 2:08
  SPEAKER_00: These aren't massive jumps, but they are, they could impact you, especially depending on the amount you happen to be financing on real estate.
• 2:16
  SPEAKER_00: The larger the amount you're financing, the bigger the impact with a small, subtle rate change.
• 2:20
  SPEAKER_00: So know that as well.
• 2:22
  SPEAKER_00: When you're looking at properties, the other thing to prepare yourself for, if you're looking in a particular area that has mellow ruse tax, find out when that bond might complete, when it might be ending.
• 2:33
  SPEAKER_00: And that being the case, don't set your heart on an ending if you're being promised, oh, it's going to go, it's going to be done in the next year or two.
• 2:40
  SPEAKER_00: You want some kind of validation to show that's in fact the case, especially if you're purchasing dependent on that Melaruz tax being solved or finished or completely paid off.
• 2:52
  SPEAKER_00: In some cases, yes, I've seen different areas in Stevenson Ranch, for example, that have had those Melarus completely finished and paid off.
• 3:00
  SPEAKER_00: But in other cases, I've seen them renewed and continue for very little cause.
• 3:05
  SPEAKER_00: So watch out for those particular issues.
• 3:08
  SPEAKER_00: As you real estate sellers may know, if you're on the market around the 30-day mark, you've had some activity, maybe some threatening threats of offers being written, but haven't really seen anything or nothing that you've been able to negotiate into an escrow?
• 3:22
  SPEAKER_00: Understand that 30-day point is kind of that magic sauce to do some kind of a price modification or reduction or some kind of price change.
• 3:31
  SPEAKER_00: Now, there's lots of different terms that all mean the same thing.
• 3:33
  SPEAKER_00: Basically, though, you need to look at where your property happens to be.
• 3:37
  SPEAKER_00: Was there a change in the market since you had it listed?
• 3:40
  SPEAKER_00: Did the market start to increase or decrease?
• 3:42
  SPEAKER_00: Did the market maybe even switch from being a seller's market into a buyer's market?
• 3:47
  SPEAKER_00: What is that dynamic?
• 3:48
  SPEAKER_00: And yeah, in 30 days, a lot can really happen, especially dependent on the overall economy in the United States.
• 3:54
  SPEAKER_00: And then when you break away from the major city hubs like around Los Angeles or around San Francisco, around New York City, you start to see those areas get more impacted quickly versus the ones closer to the major cities, which that seems to be a little bit slower as far as the overall economy affecting properties.
• 4:13
  SPEAKER_00: You need to find out where you are, look at where your house happens to be priced, and then also have a discussion with your real estate agent what your modification of price is going to do.
• 4:22
  SPEAKER_00: In most markets, that's going to relive that listing, push it back up to the top of the internet search portals, those big real estate syndication sites, they'll start to see it again first, and then hopefully bring that out to the people that are in that price range.
• 4:36
  SPEAKER_00: Most people are searching in chunks,$10,000,$20,000, or$50,000 increments online.
• 4:43
  SPEAKER_00: Being less than that next hole is usually beneficial.
• 4:46
  SPEAKER_00: And play with the nines, you know, that$489,$689,$9.99.
• 4:52
  SPEAKER_00: People love the nines, and it's been proven that's a good strategy.
• 4:56
  SPEAKER_00: Some agents will go out there and they have their own little trademark pricing.
• 5:00
  SPEAKER_00: But if it lacks the nines, folks, some people out there look at real estate numerically as if it hell holds luck in that.
• 5:08
  SPEAKER_00: You might as well go ahead and use the eights or the nines and play off of that as well, just to give yourselves the most advantage.
• 5:14
  SPEAKER_00: Whether you believe it or not, it doesn't matter, but it is kind of cool.
• 5:17
  SPEAKER_00: Just use it.
• 5:18
  SPEAKER_00: Use it to your advantage.
• 5:19
  SPEAKER_00: Talk to your agent, see if they know anything about that.
• 5:22
  SPEAKER_00: In addition, when they get your property online, make sure that you have the total VR package.
• 5:28
  SPEAKER_00: You're having that virtual, uh, the virtual rendition of your property so it's able to be used with VR headsets.
• 5:34
  SPEAKER_00: People can walk through the property, actually look around.
• 5:37
  SPEAKER_00: There's a lot more of that happening, and that's only going to get more and more uh prevalent in the real estate world.
• 5:44
  SPEAKER_00: So make sure your house is fully outfitted.
• 5:46
  SPEAKER_00: I do know I was with my uh photographer the other day, and he asked me if I still wanted to do that Matterport 3D virtual tour.
• 5:54
  SPEAKER_00: And I said, why wouldn't I?
• 5:57
  SPEAKER_00: I guess was my response.
• 5:58
  SPEAKER_00: And he said, well, a lot of agents aren't using that because of the cost.
• 6:02
  SPEAKER_00: I said, well, you know, to be frank with you, I think cutting back on that, we might as well go back to taking pictures with wet fib technology and a 35 millimeter camera that those little instant throwaway cameras after you get done shooting them.
• 6:16
  SPEAKER_00: You know, come on, give me a break.
• 6:18
  SPEAKER_00: You're a professional photographer, you're a professional real estate agent, you need to have a product, poise that house, out there for sale with everything you possibly can.
• 6:27
  SPEAKER_00: Now, do you need a drone shot of a property?
• 6:30
  SPEAKER_00: Probably not.
• 6:31
  SPEAKER_00: But because really, unless it's situated in such a way that the area is really going to be a selling point for the property, but it's the inside of the house.
• 6:41
  SPEAKER_00: People walking through with those VR headsets are at least able to walk through every room and look in every corner, nook, and cranny.
• 6:47
  SPEAKER_00: It's huge.
• 6:48
  SPEAKER_00: And then when they finally get out to the property, they don't feel misled.
• 6:52
  SPEAKER_00: A lot of the pictures that are taken of properties are using different kinds of lens systems that show them to be larger than they really are.
• 7:00
  SPEAKER_00: Or the biggest Senate seller can do out there is to use historical photos, especially if the inside of the property has been repainted, not to uh a more popular public opinion.
• 7:12
  SPEAKER_00: Let's say you painted the entire inside of your residence black.
• 7:16
  SPEAKER_00: I've seen it before, at least rooms that were black.
• 7:19
  SPEAKER_00: And using historical photos, when buyers walk in, they completely feel misled, like they were tricked.
• 7:25
  SPEAKER_00: So don't do that.
• 7:26
  SPEAKER_00: If you're gonna use historical, well, I wouldn't use historical photos at all, especially if they're better than current, just paint the property.
• 7:32
  SPEAKER_00: It's gonna pay off for you, especially if you have other properties you're competing with, or if you're ready to take a discount on the property, then forget the painting or any kind of changes to it.
• 7:43
  SPEAKER_00: Having somebody that can give you that education is important.
• 7:45
  SPEAKER_00: When they walk through your house, right now the market isn't such that you should be doing all these upgrades and throwing all the money into the property.
• 7:52
  SPEAKER_00: There are markets where that exists right now because of our lower than average inventory.
• 7:57
  SPEAKER_00: Well, we're actually higher, but as far as average goes, we're lower.
• 8:00
  SPEAKER_00: We're still in a seller's market, so there is a massive supply and demand issue.
• 8:05
  SPEAKER_00: In those types of markets, having to pay for those extra additions to your property, just bringing it up to code, bring it up where it needs to be, that's usually enough.
• 8:14
  SPEAKER_00: Replacing kitchens and bathrooms.
• 8:16
  SPEAKER_00: If you're in competition with properties like that, maybe, but it's something you want to have a discussion about so you can figure out if your$15,000 investment is really going to equate to you getting at least$15,000 out of that property when you list it on the market for sale and not losing all that now if they just are willing to pay what you want because it has a new kitchen.
• 8:36
  SPEAKER_00: Watch out for yourselves, everybody.
• 8:37
  SPEAKER_00: I'm Connor with Honor.
• 8:38
  SPEAKER_00: If you want to talk to me on a Zoom call, zoomme scv.com.
• 8:43
  SPEAKER_00: We'll be able to sit down, talk about what you're wanting to do in real estate.
• 8:46
  SPEAKER_00: I'll give you the rundown where the market is, and we'll develop a really good game plan.
• 8:50
  SPEAKER_00: So you, whether you're selling, whether you're buying, are getting it from the horse's mouth.
• 8:54
  SPEAKER_00: Be well.
• 8:55
  SPEAKER_00: We'll see you in the next one.
• 8:56
  SPEAKER_00: Thanks for watching.
• 8:57
  SPEAKER_00: Santa Clarita Openhouses.com.
• 8:59
  SPEAKER_00: Talk to you soon.
• 9:00
  SPEAKER_00: Bye.