We had a great week with a lot of awesome stories to share with our clients and those who are going to be coming aboard to have us assist them with all of their real estate needs.
The thing about real estate cycles and the markets is that they don't stay the same for long.
The Santa Clarita real estate market ebbs and flows from top to bottom, things change routinely and some can be predicted.
The best thing that you can do is ensure you are well represented by your best choice of a real estate agent. Do some googling and let your conscious be your guide. Google Connor MacIvor and you will see partially what I am about and if I am a good fit to be your Realtor when buying a Santa Clarita home etc. Be well - talk soon and enjoy the Santa Clarita home experts radio show.
Santa Clarita home experts Radio - Transcript (rough)
Connor MacIvor: 00:00 Good. Everybody called him MacGyver. Exciting stuff going on in real estate. We have broken into October today's October 8th, 2019 and let's get on with housing, radio.com we are the Santa Clarita home experts.com Santa Clarita, home experts.com you can do anything there as far as real estates related searching, getting valuations on different pieces of property. And also we have the 47 different areas out here in Santa Clarita cataloged in within a search format and also with a market report format. So that's 47 areas folks, that's everything. So that's gonna run you all the way through from Acton all the way through Valencia, alphabetical order, acting, Castaic, awkward all say Canyon country, new haul saga, Stevenson Ranch and Valencia. That's got to be everything that's out there currently for sale and also the sole properties to give you an idea of what's going on in this particular market. Plus I have to say we do also our radio show which is listening to right now and you can find that in its proper format.
Connor Macivor: 01:12 Santa Clarita, home experts.com forward slash radio and also housing radio.com of course, that's just forwarded to our main site, Santa Clarita, home experts.com this last week has been eventful. We have a transaction that's going on in Simi Valley where we have a home buyer that wants to buy a particular residence and the seller and investor flip seller and their agents have been nothing but impossible during the whole process. At the end of the day, you can get angry, you can handle it like a business and the buyer has choices. So while where his agents were fighting for him tooth and nail, the end of the day, the seller might refuse to do something. Maybe it's a repair that the buyer wants taken care of. Maybe it's an explanation of how old something is or the origination point of this item in the home or whatever. Again, the seller can come back and say, Nope, not gonna tell ya, or, Nope, I don't have any more information about that, or no, I'm not going to fix it, or no, I'm not going to credit you or no, I'm not going to do this to do that.
Connor MacIvor: 02:25 I understand when you're making that request through your agent for repairs, the property sold as is all California real estate sold as is and the agent is not, or the agent and the seller do not have to do anything. Now, do they? Absolutely. Almost a hundred percent of the time there. There is some give, there's some movement, there's some green tree bending, not breaking. There's some kind of contribution if you will, to the process of getting escrow closed, but not in all cases. We haven't had this one in Simi Valley with two very proud agents, a very proud seller, and we have our buyer on our side and he understands the process. He's been through this before, but things come up and then as part of the explanation there's a lie and that's, that's rather disheartening and irritating. Instead of saying, no, we're not gonna do it. They fall on the, well, this is why this is that way and it's justified and any person that does this kind of work will tell you this is exactly exactly what happens and there's no problem with it.
Connor MacIvor: 03:45 And what we're referencing, if you go to Santa Clarita, home experts.com forward slash blog you will see one of the articles and I titled it sometimes ages lie on behalf of their sellers about the cracks. In the tile you'll see tile, T, I, L, E. in a shower, you'll see a couple of cracks that are right around the control panel in the shower, the knobs that turn on and off activate the overhead flow, the wand, the whole nine yards. You'll see a couple of cracks there and they tried to sell us on the fact that that's intentional, that those are cuts, not cracks and that there's grout in them yet there's not and so on. So that was the point of it and we reached out because we were doing our walkthrough. And that's something that you do at the end right before escrow closes. Because it gives buyers at least the point to make the record, maybe not stop anything because a buyer can't arbitrarily hold up escrow, but it does give them a chance to make the record and go back to the seller and say, Hey, this wasn't as it was when we did our inspection.
Connor MacIvor: 04:54 This wasn't as it was when you, you the sellers, agents, you people when you went out and looked at the property and wrote down what you observe and it wasn't like that. When my agent did the same via a document called the agent, visual inspection disclosure, an ID. This wasn't the preexisting condition. This happened at some point somebody had gone out there because the shower was one of the things we wanted fixing. Somebody had gone out there and tried to repair whatever was wrong and in doing so they'd probably remove this faceplate and then tighten it back down. As you can see, Santa Clarita real estate, excuse me, Santa Clarita, home experts.com forward slash blog as you can see in there, their cracks. , these are cracks folks. These aren't a, and they're not even straight and the cracks themselves not being 90 degrees or perpendicular to another seam.
Connor MacIvor: 05:56 That's intentional. They're also curved within the crack and you'll see, but it's sad that they try to sell it that way. Again, when you're hiring someone you want to, you know, get a good idea as to who they are. The party our, our buyer decided to move forward. But again these are issues that should have been taken care of by the seller but the seller didn't. So our client has the ability, depending on the cost is taken to small claims once it closes and he can file it against this seller. And more than likely in court looking at these photographs, a judge would look at the record about what was responded to us and our email saying that these are not cracks, these are intentional, seems like grout. They easily see that their not their cracks and tile and I'm sure that the uh, the buyer would be awarded whatever that costs to fix 400 500, $600.
Connor MacIvor: 07:00 So that's the payback for issues like this that pop up during that final walkthrough. So these are like pain points that happen in real estate and transactions from time to time and they occur and it's difficult and it's horrible for all parties. The other thing that comes up and this is something recently besides I wrote five top best steps for a Santa Clarita home buyer. What you need to do of course deciding whether you want to, you should be buying a house is important. What you're going afford versus qualification amount is important. So I put these five steps in here at our blog, Santa Clara, home experts.com for slash blog so you can listen to that or read those as well. The other thing that comes up or for sale by owner properties, so for sale by owner typically isn't put in in the multiple listing service. However, lately, they've had, they have given a new field in there called an open listing
Connor MacIvor: 07:58 and the open listing in some ways could pertain to a for sale by owner property. But even on the listing itself, on an open listing, if it has a commission amount, then that means there's compensation afforded to or awarded to the person representing the home buyer. The agent that put the listing in is not a part of the transaction itself for the enforcement of commission because they're the ones that put it in there. So even though they put it in open the listing, that's where an agent would go if their clients decided to jump ship and even after their agents wrote the offer, went to the troubled shore, the property wrote the offer. Even when those agents decided or those clients decided to go and have a conversation with the seller about cutting the agents out to save them all some money, cause now they've been introduced and now they need an agent anymore.
Connor MacIvor: 08:56 When those types of things happen, it's really bad blood, bad business. But at the end of the day, they do happen. So the agents that are involved in that process definitely need to make sure that they have all their ducks in a row because at some point they're going to have to go after that agent that put that listing in the MLS stating that the sellers were offering 2.5% or whatever the commission amount was. That's the enforcement, so you're not working for anything. It's like hiring a contractor and not paying them or hiring somebody to work on your house and then when it's all said and done, not paying them and when they did a good job, when they put the forth, the effort that you expected. Even more so in this particular case, this is something that does creep up in real estate from time to time, just not very often.
Connor MacIvor: 09:48 Most agents will not take an open listing and put it into the multiple listing service or when they do, they will put instructions in there or make that commission zero because there's no guarantee and then the liability of trying to get that commission doesn't come out of their pocket. Then this case, this agent made a mistake by putting that in there with that commission amount, unless he has it in writing that the sellers are willing to pay that amount. And if he has it in writing, then the sellers are the ones that'll have to pay it after they sell their home to these buyers that actually had agents, had the offer written, have the offer received and then decided to meet up with the sellers an ex parte fashion. Kind of off the record and have a discussion. Let's get rid of our agents or the agent that's representing you, Mr and Mrs buyer, and then we'll be able to move forward and you can save yourself some money and we'll try to work on this paperwork and figure out how to sell it ourselves. But we also have the template now because you have a complete offer package or we have a complete offer package that your agent sent after talking with their legal team and also talking with their, uh, the other entity. They're at the office that takes care of any kind of other issues within contract because this wasn't your normal garden variety standard sale. This is
Connor MacIvor: 11:22 an MLS base listing that is kind of hiding itself under a pizza by owner
Connor MacIvor: 11:28 the genre. So that has to be attended to properly. So you had risk management involved as well as legal putting together all the proper documents and forms that go with it to make it the best protection of the buyer and also afford the seller the protection that they're due as well. Cause understand they don't have an agent. But again it has to do that without saying, stating that the agents are also going to be representing the cause. That's not the case. The seller wants to do it themselves. Watch out for the games folks. If you're in real estate, watch out for these things. No going in. It does happen from time to time, but no going in that your investigations need to be done. When you have clients calling you about properties and you're not seeing them advertised in the local multiple listing service, you might have that question say, I wonder why that is.
Connor MacIvor: 12:20 In this case, it took two or three days for the San Diego board and there's more than one. They do communicate with Chris net, so you'll see in the article after I wrote it that I did a line that out because I verified with our board that they do communicate. However, it takes two, three, four days for that particular board to get the data into ours and when they do not everything transfers. So we're going in somewhat blind because the MLS sheet doesn't have a lot of information on it as if or as it would if that agent hired somebody local or the seller hired somebody local. All right, so that's it. So that's enough about the blog. A lot of good information there. We did put that together. Now if you go to Santa Clarita, home experts.com you're going to see quite a change to the homepage and we do have the address search and we also have that awesome video about where we get listings from and that gives you a really good idea as to where, how that whole thing happens.
Connor MacIvor: 13:26 So it's not just simply an agent takes the listing and puts it in somewhere and then it gets uploaded. There's a whole system in process and there's also reasons why our system, Santa Clarita, home experts.com is going to be more accurate than Zillow and truly in some of these other systems out there, we are here, we are local, we are members in good standing at the Southland regional association of realtors, which is the main board that controls the Santa Clarita Valley and this particular area in Southern California, there are there, there's a board in San Diego for example, wouldn't see the data because it doesn't publicize and doesn't reciprocate and share in our local board. The same thing with a greater animal value bore. They don't share that data. So in order for us to be prolifically good in that area, we definitely have to join their local board and the greater Antelope Valley in order for us to be able to provide that MLS data to our clients.
Connor MacIvor: 14:28 So here at the homepage of Santa Clarita, home experts.com you can see the popular areas. These are the 47 different areas that we talked about that are here in Santa Clarita Valley. Click on anyone and see those listings that are currently advertised as being for sale and I'm telling you if there's something that comes up like an FSBO that's hidden under an MLS base listing your agent I'm sure will tell you and explain to you that particular process and hopefully that same fate won't be for you because it's a little ugly when that happens. I've caught her MacGyver watch the market data. We do have altar ultra-low listing level out here in Santa Clarita Valley, not very many properties on the market for sale. We're in entering in fall. That's another little bit of a slow point. The next fed meeting is going to be in October this month. Watch for that and let's see how interest rates move that dependent on signs of inflation of what's kind of going on within our relationship with foreign governments.
Connor MacIvor: 15:33 It'll be interesting to see how that affects the interest rate and if it knocks it up a little bit or knocks it down, a rumor is it could potentially go down. But right now we're seeing things occur in the lending world because of all the refinancing going on. There's not a lot of attention being paid to the uh, people that originating new loans for real estate because of all the refinances. So we finally have had a talk with those lenders that we deem most close and they are getting it together. But at the end of the day, money's cheap in this particular market. Not super easy to get, but it is cheap and at the end of the day there's not a lot of fat in there for the lenders as there used to be. If they cut interest rates, again, it's going to affect that even more. Now, not all of them are super customer service oriented, but they should be.
Connor MacIvor: 16:30 There's a lot of people out there that want to have you use them, utilize them for your next real estate transaction. Paris and I always look at it from that vantage point just because the simple fact is there are a ton of swinging people out there that are more than willing to give you their time and assist you license holding, you know, licensed held real estate agents way to help you and we appreciate you coming to us and choosing us. Thank you so much for taking the time to listen. The market is a little soft. Uh, we'll see what happens with interest rates. Last time they said that they were going to reduce them and they did the after that became fact, then we noticed the market slowed down quite a bit versus what we thought was going to happen to kick it off even faster.
Connor MacIvor: 17:22 Maybe it'll take a rate increase to kick it off. We don't know what's going to happen though. We'll have to see when the fed meets again and then watch those reactions shortly after. I do know right now, a lot of the things, the biggest item that was holding sellers back from putting their property on the market happens to be the very simple fact that they were able to refinance a lot lower than that current payment was, and they're holding steady. I've caught her Mikai ever. Thank you so much for listening in. Please refer to the show to whomever you see fit. If you need our services, our support, our help, and our protection and real estate, reach out to us. Santa Clarita, home experts.com. It's simple, it's easy and it's yours. Be safe. We'll talk to you soon. Connor MacGyver over and out.
Who are the Santa Clarita home experts?
Paris and Connor MacIvor. Both Paris and I have been representing buyers and sellers of homes in the Santa Clarita and Southern California areas since 1998. We have traveled far and wide for our clients. San Jose - Lake Elsinore, Pine Mountain Club, and Big Bear. We have sold in those cities and represented home buyers in those cities.
Now, regularly, we love being in and close by to the Santa Clarita Valley. However, reach out to us anyway. If you think we would be good for your real estate needs, let me know personally, and I will do my best to make every allowance possible.
The biggest difference between Paris, me and other real estate agents is we limit our expansion. We have had a mega team at one time in the Santa Clarita Valley. There are too many issues that are not covered in an operation of such a team. You can meet three times a week with all the buyer's agents, the listing coordinators, and other support staff. However, the clients will not be served as they truly deserve.
The number to our secret abilities - is 10 (per month), every 30 days. No more than 10 clients. No more than 10 closings during 30 calendar days.
At that speed, Paris and I serve all of our real estate buyers and sellers as if they are our only client!
:) - It only took me 20 years to figure that out.