Aug. 31, 2021

Non Dog Friendly Home Owners associations in Santa Clarita ep. 2021-243

Thanks for taking the time to watch Connor with HONOR on his youtube video about the HOA's and how to verify if they allow dogs and what breeds/sizes are permissible.

This can create issues in Santa Clarita real estate, so make sure you watch the complete broadcast if you are a DOG Lover. When you are ready, reach out to me and I'll take great care of you.

Connor with HONOR Santa Clarita home experts (00:00):

Santa Clarita real estate agent connor with honor youtubeGood to everybody. Connor MacGyver last day of August, August 31st, 2021. I'm with exp Realty for now. I've been selling real estate since 1998, representing buyers and sellers. This is your Santa Creta update. I do want to talk about the market, but first I'm going to log into some different things. So we can talk about real estate inventory. And I will tell you that currently it's still very low and yes, I am shining because the gym is finished. And all right. So, uh, just so you know, as far as real estate inventory go is, goes at, is low. So the buyers out there, you folks that are looking to buy real estate, that includes our buyers. The biggest dilemma they're facing is finding the right house. So then what they're doing, if they're not seeing the right house and they really want to buy what they're finding out is they're starting to make certain allowances.

Connor with HONOR Santa Clarita home experts (00:52):

They're starting to say, well, you know, maybe I can, instead of maybe having a single story, because realistically in Santa Clarita valley, single stories consist about one out of five, one out of four residences. So there's not that many. So they do carry a premium. And in fact, the price per square foot is more expensive typically than a two-story. Even if the single story is not outfitted as well, if it's not updated anything like that, you're still going to be paying more for the most part for a single story, just because one out of five, one out of four happened to be that particular configuration. So what people are doing instead of saying, well, you know what, I'm going to get this one-story house. They're not seeing any for sale. So they see, you know, and I might take a two-story that happens to have a master bedroom suite on the bottom floor.

Connor with HONOR Santa Clarita home experts (01:40):

Typically they're not the master of what's going to end up happening in the main bedroom. The main bedroom master is a word that probably isn't used as much anymore, but that's what typically you would use to call that bedroom upstairs. So now with all the differences in the way things are described or nomenclature and such, it's probably not mastering Mars, probably the main bedroom. So typically the main bedroom had a bathroom attached to it. So we walk in, you have the bed, typically dressers, maybe exit to some kind of an outside area, maybe on the second level, some kind of a balcony, if you will. But then back inside that main bedroom, you have the main bathroom, which is attached to it. So it's going to consist of a lot of times in Santa Clarita, at least the configuration has a separate shower, kind of a box type thing.

Connor with HONOR Santa Clarita home experts (02:30):

And you're going to have, you know, the tall glass on the sides, and then you're going to have, uh, maybe a seat and then they're going to have the showerhead and such. Then next to that on the outside of it, you're going to have a large oval or some kind of a bathtub. That's usually the configuration, but it can be a lot of different things as well. Depending on the older homes, you might have just your regular in-shower bathtub that happens. We do see a lot of renovations out there that are involving claw tubs. That involves quite a bit of demolition though. You have to go on there and you have to pull things out. Some of the carpenter people and some of the contractors do a very good job at that. So they put these massive iron claw tubs in, but again, they're very heavy as well, especially then when you fill them with water.

Connor with HONOR Santa Clarita home experts (03:11):

So that floor a lot of times has to be reinforced. So before you get excited and going, I want to go and put a cloth tub in your master or main bedroom, make sure that you double-check. So what they're doing is then you transition from that kind of an area to downstairs. Typically that bathroom that's attached to that downstairs bedroom is not within the bedroom. Usually, that's going to be considered the guest bathroom, but in most cases in Santa Clarita, those bedrooms on the bottom floors of most two-story residences only consist of a toilet and a sink in this particular case because of the way it was designed from the beginning of the way that the owner ordered it from the builder or the way that it was just put together. What you're going to see is you're going to see that there's a full bathroom down there, but usually, it's accessible by others.

Connor with HONOR Santa Clarita home experts (04:03):

So if you have guests coming over and they have to use the restroom and you're entertaining, got something in there and you're entertaining, what's going to end up happening is they're not going to be having to go through your whoever's staying in that bedroom at the bottom level. They're not going to have to go through it, to access the bathroom. They're going to be able to just walk in straight off the hallway, but again, is it as cozy as having that, uh, bathroom inside the bedroom? Probably not, but again, people are making trade-offs. I guess the point is this. If you want to make a trade-off, great, just make sure that you're okay with it and make sure you speak to those that are in your periphery or those that are going to be living in the residence with you to make sure that it's an okay fit.

Connor with HONOR Santa Clarita home experts (04:44):

Make sure that it's going to work. I understand inventory is low. It's not always going to stay this way. However, that the magical question is how much longer is it going to take to see this inventory start to increase, to be able to slow down the market. At least maybe move the needle a little bit from a seller's market, more into a buyer's market seller. Of course, don't want that sellers are riding the wave currently. And it looks like it's going to go for a while, but we'll have to see what happens as always this time of year. As we start to close out summer, we start to break into fall. And then once we get into fall, we get no matter, right? That's the normal progression of things. You're going to start seeing a slowdown in real estate. You're going to see a slow down in houses listed.

Connor with HONOR Santa Clarita home experts (05:25):

You're more than likely going to see a slowdown in closings. You're probably going to see a multitude of price adjustments for people that have had their properties on the market awhile, especially as we transition from mid-fall to winter. As soon as we get finished with fall into winter, you'll start to see a lot of these adjustments. You're also going to start seeing a lot of properties that are going to be pulling themselves off of the market doing that 90 days reset. So it doesn't show as if it's been listed before carrying in this consecutive or continuous days on market timeframe. So you'll be able to watch that happen. Also, I'll continue to report here once a week to give you an idea of where the market is. So right now we want to look at that inventory. So I happen to have a saved search that I put together.

Connor with HONOR Santa Clarita home experts (06:07):

And I'll be able to give you that now below this video, depending on if you're looking at it on our blog, that's Santa Clarita, home experts.com forward slash blog. If you happen to be there, then you're going to see transcription below the video. And now the transcription is done by an automated service. I pay for the charge me a certain amount per minute, and then they regurgitate what I'm I've said. And a lot of times, uh, they're spelling my name. And instead of Mac, I VOR it's MacGyver-like the cat on

television. And I'm no good with tools like that. Like I can make explosives out of bubble gum. He's incredible. But moving into this, let's look at this inventory and find out. So you're going to see that transcription. The best thing to do is just actually watch the video. And once you do that, you'll be able to actually understand what I'm saying instead of reading the, uh, the information that the system put together, as far as the transcriptions.

Connor with HONOR Santa Clarita home experts (06:59):

All right, so we've got your daily inventory here. Now I'm running all of the real estates here in Santa Clarita valley. So we're going to be cast, stay at canyon country, new hall, saga Stevenson, ranch of Valencia. So I'm pulling all of that data. 348 listings on the market for sale. 25 of those are going to be coming soon listing. So if you're not familiar with coming, soon, listings came about probably two years ago now. And what had happened was there's a lot of syndication websites, those sites that are basically publicizing real estate listings, then once you click on them and then use one of their agents because their agents are paying them back a fee to be able to get your personal information. It's basically a lead generation system. And it's very, very lucrative for the people that design those websites, like the Zillow's out there of the world and truly, and so on.

Connor with HONOR Santa Clarita home experts (07:47):

So that's big money in that venture. But with that, they had a, uh, where they would allow agents to go in there and input properties that weren't actually based in the multiple listing service. So there were some potential legal issues that came up. So what ended up happening is the board of realtors said, you know what? We're going to go ahead and have a coming soon field as well. So that's what they've done. And they've given it 21 days to run. So if somebody puts a property on the market, they could make it coming soon, 21 days from today. That means that potentially, and there's a little field in there. If you want to see the listing, maybe early, you potentially can, but it's going to require you to contact your agent. The agent's going to end up contacting the other agent, figuring out if, in fact, those sellers are going to let that property be seen early, but at the end of the day, I'll tell you this.

Connor with HONOR Santa Clarita home experts (08:36):

There's usually no prize given for first-in, back in the day when I started real estate, there were people that saw first growth. The first offer had the first offer received, had their lender contact the listing agent, representing the seller. First, all of that stuff meant something. In fact, prior to fax machines that even with the advent of machines, back in that time, a lot of stuff was hand-carried. So there was a lot of passion. There was a lot of code. There was a lot of honor. There was a lot of feeling and empathy and a lot of other types of emotions that are involved when you take an offer that was handwritten with all the proper documentation and go hunt down that seller's agent to give them this particular package from your buyer on behalf of your buyer. So it was very, very meaningful today.

Connor with HONOR Santa Clarita home experts (09:27):

It doesn't have the face anymore today. It's kind of, if they know you if they know Connor MacGyver Connor with honor grades, a lot of times we're going to be dealing with agents that aren't local to the Santa Clarita valley, selling real estate out there. It does happen. We have listings all over Southern California. So realistically, that's not a big deal. You're going to still get those offers and still get those people wanting to write offers on real estate. However, it doesn't have that personal approach every once in a while, we're going to run into somebody we know, and that being the case, usually, it's probably a pretty good relationship depending on our past track record. But at least we know the agent

know if they're going to perform or not. Or if they're one of those agents, that's going to basically push off everything that needs to be done to us or vice versa.

Connor with HONOR Santa Clarita home experts (10:11):

So it's good to know who you're dealing with, but all the time, it just doesn't happen that way. It's still going. Yeah, it's drying up. All right. So let's move into this. So 348 total listings, the coming soon field 25 and you're on the syndication sites. Some of them might be displaying coming soon. I haven't seen that a lot. We put up a property in Ventura a couple of days ago, and I'm not seeing it publicized anywhere. So what ends up happening with coming soon? Usually, if you don't have access to a search that a live agent put together for you, you're not going to be seeing the coming soon listing. So what you need to do, if you happen to be out there looking for real estate, email me, or call me or text me and I'll put together with an insight matrix search for you via the board of realtors.

Connor with HONOR Santa Clarita home experts (10:55):

So you can see these coming soon listings. And basically, at least it'll give you an idea of what's coming. And that's a good time for you to do some investigations. Like, do they have Mello-Roos and you would ask me that had Connor does this particular property in five NOLs, for example, a California notice, does it have Mello-Roos tax or any kind of special assessments? You know, how much is the HOA? If it's not visible on there or whatever it may be, then you can ask those questions. A big question is that people have a lot of residential real estate in Santa Clarita valley that happens to be within some kind of a homeowners association. So it's a kind of management-controlled community. And they watch out for people potentially bringing in massive RVs and leaving them parked, you know, for days and days and days, or maybe painting your house, an obscure obscene color, as far as the neighbors are concerned.

Connor with HONOR Santa Clarita home experts (11:42):

So those sorts of things. So they come and they provide some kind of enforcement mechanism for those circumstances. A lot of people have questions though, you know, what can we do before they actually get into escrow and residential real estate? And a big one happens to be with pets. They might have a dog or a couple of dogs or three dogs. There are certain homeowners associations that limit the amount of pets sizes and breeds. So those are good phone calls to make. And when you do make those phone calls, if you happen to be looking at property in a particular area, and you have that question, make sure your agent's giving you the MLS information that's contained in there for that particular homeowner's association. So you can make the call and then do yourselves a favor after you talked to Tiffany or Janet or Sam or Frank, and you get that information from, they tell you, oh yeah, Mr.

Connor with HONOR Santa Clarita home experts (12:31):

MacGyver, you're fine. You don't have to worry about it. You can have a hundred dogs. It doesn't really matter. Or if they tell you you can't have any. Or if they say, well, we don't allow the pit bull breed in here, but we do allow this not to pick on pit bulls, but we do allow this type or this type or the dog can't exceed more than 30 pounds in weight, whatever it is then I want you to do yourself a favor, get this cat's email address, send them an email, subject lines, going to be pets allowed in whatever the area is. And then re-ask the question. And then give him the answer he gave you here. Frank, it was great talking with you today. It is Connor MacGyver. I was the one that called and referenced some dogs that I own. I want a couple of dogs I'm potentially going to be purchasing in the community, which you have your part of the homeowners association.

 

Connor with HONOR Santa Clarita home experts (13:20):

And I do have a Labrador retriever and a, uh, Shitzu. And I want to find out if those are going to be allowed or not. And then he would respond to you, Connor. You're fine. You're Labrador retrievers going to be allowed. It's all your SU so that's it. So they're going to be happy. You're going to be happy with that, but you have it in writing and, and that's very important. God forbid, Frank, being on his last day, Frank off at the association or the man really upset and he fires off and gives you bad information. That's not good for you. And it's probably funny for Frank, but at least you followed up in an email. So if you need to verify this later, so they don't think you're speaking out of your private parts, then they're going to be able to see it and you'll be able to show them, Hey, listen, I did do my due diligence.

Connor with HONOR Santa Clarita home experts (14:04):

I did ask, I did find out. But again, there is a follow-up to that when you do get into Asgrow, the seller's going to be paying for the documentation that goes with the homeowners association via the CCNRs. And you're going to see all that information and you're going to be able to actually read it in writing and, and clear legalese hopefully, but also the HOA association might send you chapter and verse as well. So they might send you first Corinthians chapter five, verse 13, But them that are without God judgeth. Therefore put away from among yourselves that wicked person. or whatever it may be, but you'll be able to see it at least and see it in writing. So you can deduce from there, if in fact what you happen to have the pets that you love if they're going to be allowed. So that's a big part of today's presentation regarding pets because I do have a lot of folks that buy in particular areas.

Connor with HONOR Santa Clarita home experts (14:50):

And the last you want is them not saying Fido can't come because Fido's of a particular breed or a particular size or a particular whatever. So make sure you follow up with these people before you get too deep where you can't get out. I'm Connor MacGyver. Thank you so much for watching our update. Again. End of August. We're going to be venturing into July tomorrow. Can't wait to see what no, excuse me, September tomorrow. Ghanim going back in time when you're ready to reach out. Listen, I post all these youtube.com/c/connorwithhonor911. Do you want to see a little bit more about me Connor with honor.com? Probably spelling almost any way you want, but it's C O N N O R. For those that want to wake, hopefully, everybody's great. Again, thanks so much for watching. If you do me a favor, can you share this and like it and subscribe and do all that fancy stuff. It would mean the world. And I think it helps in some way. I still haven't figured that out that mechanism, but maybe I'm going to get a t-shirt or something in the mail. I'm looking forward to that Connor MacGyver. Thanks for watching. I'll be here. You have any questions regarding real estate, friends, and family. Send them my way. I'll take great care of them over now. 

Aug. 23, 2021

The market is slowing down in Santa Clarita real estate update ep 2021-235

 

When it comes to Santa Clarita real estate, watching as the market went from homes selling somewhere close to a 14-day pace, then the market closing in on hours to sell residential listings, back to about 4-7 days now, I can say dynamic is probably the closest word to describe it.

In fact, Dynamic or Volatile? What would be the better way to describe the current Santa Clarita real estate market?

Maybe Volatile. However, I suppose it depends on which side you happen to be on. If you are a home seller, it's all roses and kissing babies for you. But, if you are a home buyer - you are stretched thin and have been turned from inside out.

Santa Clarita real estate update and weekly rundown

Santa Clarita real estate frustration by home buyers324 total active listings for sale - versus last week: 315

Out of the 324 home listings in the Santa Clarita Valley, there are 25 coming soon listings. This has been the typical pace for the past few months. I will tell you when I see the latest intel and Santa Clarita real estate market reports that my home system generates, I cannot help but wonder how much longer this super-strong seller's real estate market will persist.

Some have asked me what the change in the market will be when the "buyer's relief" comes. I tell them that it will come in extra real estate inventory that will put the brakes on this market and move the needle into a buyer's market.

The national association of Realtors - says for a couple of years this market will continue.

That is indeed a long time, we will keep watch for you and those of you who keep update via my Santa Clarita real estate youtube channel or Santa Clarita radio shows, you will be on the cutting edge of real estate information and news in the Santa Clarita Valley.

And as usual, here is the transcription of this episode of the Santa Clarita real estate update 2021-235. It's bot-driven and algorithm-dependent - hence the accuracy. But, it works well for organic placement grease!

Connor Macivor Santa Clarita real estate video new (00:00):

Good to everybody. Connor MacGyver exp Realty here in Santa Clarita. This is your Santa Clarita real estate news update. Today's going to be the 23rd of August, 2021. And it's Monday, uh, we're breaching into the afternoon, 1321 hours. So this, uh, real estate information is timely and I will give you, uh, what's going on in the market. And also where I think that fallout is going to come here in the future. Now we have, excuse me, we have the national association realtors that are reporting them. We have, you know, one to two years of a solid seller's market where we're sitting now. I don't know if that's actually going to be the case, but I will give you my opinion as to where I believe the adjustment will come when it does. And let me show you what's going on today in this current market. So right now, as of right when I ran the numbers here, a few minutes ago, we have 324 active units for sale that's versus 315 last week.

Connor Macivor Santa Clarita real estate video new (00:56):

So the adjustments really a little bit up, but nothing to brag about because it goes up and fluctuates. We haven't seen much over this particular number and much less than the two eighties to nineties. So everything has been pretty, uh, pretty normal in that regard now of those active units for sale that 324 there are 25 coming soon listings, this is a status. So it was implemented a while back by the board of realtors to compete with the syndication sites. The Redfins, the Zillows those sorts of sites out there because they, some of them were allowing agents to place coming soon listings within their data. So whenever you were running listings, you might pop up with these things. But the problem was there was no verification process. There was no enforcement entity on the other end of it. So an agent could, if they felt obligated, or if they felt the drive to, they could put a listing in there that was actually not real at all.

Connor Macivor Santa Clarita real estate video new (01:54):

And then people would call on it. They would get those people in the form of leads, and it's, it's just a slippery slope and ethically wrong. But again, you know, it happens. So just be careful. The best place to look is going to be a local resource. Somebody that's not going to sell or trade your information, you can go to SCV nine one, one.com for Santa Clarita valley S CV nine one one.com. That's where I post these videos here and also put the other real estate-related information. Also on the page there, you'll see the past episodes. You'll be able to find out what's going on in the market every week. And you'll also see additional updates that I place on that particular page pertaining to any changes that might come up kind of abruptly throughout the week. So if something happens Thursday, that's newsworthy.

Connor Macivor Santa Clarita real estate video new (02:39):

If interest rates jumped some crazy amount or whatever it may be, then you'll be able to find that information there. But at the end of the day, whenever you're ready, make sure you reach out to me, whether you have friends or family looking and interested in real estate, please. My selfish plug, Connor MacGyver, a local agent here in Santa Clarita. Now AB out of those listings, the coming soon listings typically carry up to 21 days. So you'll be able to see this listing for 21 days, advertised online and in the coming soon format until it has to go active. Once it goes active, then it has to be looked at, or it's allowed to be looked at and seen by people. Maybe before that, you just have to reach out and ask that question. If you're looking for those of you, find something that is coming soon.

Connor Macivor Santa Clarita real estate video new (03:22):

As I tell my clients, just reach out to me and I'll be able to find out if, in fact, we can get some kind of a preview or a before sales showing, but at the end of the day, the seller almost 99.9% of the time, almost a hundred percent, they're going to want that property to go through the entire advertising and marketing channel before they accept any offers because they want to get as many offers as possible. They want to get the price-driven up as high as possible, and they want to get the best terms for whichever offer they choose. And you can only do that by countering multiple offers. For the most part, you can go back and forth with a single offer. If you happen to be a seller, and that's all you have, your agent can try to approach the other agent.

Connor Macivor Santa Clarita real estate video new (04:06):

That's why I'm not a big fan of dual agency. That would be the same agent representing you on the sale of your house. And also the buyer on your residence. I like to have another agent on the other side. So, you know, it's fairer. It's easier to fight with them than it is a human being. That's employing me as their real estate agent. So I like that much better than I do. Uh, the situation involves an agent holding both sides of the commission of the sale. That's me. There are several states that actually outlaw that practice. They call it dual agency. And I believe Canada a few years ago also implemented that. So an agent cannot represent both sides on a singular transaction. So that's my 2 cents on that, of these 324 active listings. We have 232 that are single-family residences. 63 are condominiums and twenty-five or townhomes.

Connor Macivor Santa Clarita real estate video new (04:59):

A lot of people have that question. What differentiates a townhome from a condominium? Usually, it's going to be stories. Uh, condominiums are going to be classified, looking like box rectangular type apartments, where you have a singular level and everything is on the level, the bedrooms, the living space, the bathrooms, the kitchen, the family room, the whole nine yards there on that same level. Townhomes are usually multi-level. So you walk in maybe at one level climb some stairs, and then you have your living space. And there could even be maybe the third level, maybe a loft or a small stairway to get up to something even higher in that particular townhome. Usually, townhomes depending might not share walls. That's kind of usually they could be standalone. They could be attached by a single wall. It's just going to depend on the classification for that particular complex or that particular building on how they actually put it together with condominiums.

Connor Macivor Santa Clarita real estate video new (05:54):

Usually, you are sharing something you're showing you walls a floor, or a ceiling. Also the parking, typically condominiums. It's going to be usually below the building. Maybe subterranean. It just depends on the location. Maybe the subterranean part may be the front of the building. That particular elevation is higher. So you're kind of running a little bit higher with the ground out front versus in back where they cut more and made driveways and garage access. A lot of the time, those garages there at condominiums are also structured in such a way that they're going to be a tandem configuration, or you're going to actually share kind of the same space with your neighbor. So in between where your vehicle parks, if it's a single next to yours is going to be their vehicle, which would also be a single. So that's good to know. And in those cases, well, any case when you're purchasing residential real estate, I always tell my clients to make sure they get out there and find out who your neighbors are before you get too deep in the process by knocking on their door and saying, Hey, I'm Connor.

Connor Macivor Santa Clarita real estate video new (06:58):

I'm buying this place next door to you. Um, nice to meet you. What's your name. And then kind of find out what they might know about the neighborhood and what they know about the building, maybe their tenants. And they're going to be completely honest with you because they have nothing to lose. Maybe they're the actual owner and they'll do the same. Eventually, you're not gone. At least the residences that have impact yours. And you do this with single-family residence is also, I always instruct my clients to do this with townhomes as well, just to make sure that whenever you're purchasing you at least have an understanding as to who's living around you and find out a little bit more about them. Eventually, you'll find the chatty Cathy, and she'll tell you everything there is to know about the neighborhood. She'll tell you the good, the bad, the ugly, and then you'll be able to make that best purchase decision before you put any money out of pocket.

Connor Macivor Santa Clarita real estate video new (07:46):

And in real estate, if you're a real estate buyer, the money you're putting out a pocket's going to be what you're going to be paying for the home inspection, which is due at the time of service, what you're going to be paying for a termite inspection, which is due at the time of service and the appraisal. The appraiser that goes out gets dispatched from your lender, whoever your lender may be. And usually, they're going to charge a credit card or get the money from you in some way, shape, or form at the time that appraisal is ordered on the property. So this could be 1500 bucks, 1200 bucks. That's money out of your pocket. It's good to know certain things before getting too deep and starting to spend that money because let's say you cancel after that. Let's say something's discovered within the inspection process, or even with regard to neighbors, maybe there was a restraining order.

Connor Macivor Santa Clarita real estate video new (08:35):

You forgot about that. Maybe existed at one particular time, or maybe you run into an ex that happens to live in the same complex, unbeknownst to you because you've been out of contact with these people forever or whatever it may be, but you find it out. And all of a sudden like you can't live there. You're going to have to cancel the transaction. But if you've already spent 12 or a hundred dollars, that's money, you're not going to get back your deposits different. The posit comes back to you typically unless you get to the point in escrow, which depends on what was written in the contract. But if nothing changed usually 17 days for all your inspections and usually 21 days for your loan, either one of those is not met. And you back out of the deal typically are deposited safe, but this is a chance where people could attorney up.

Connor Macivor Santa Clarita real estate video new (09:22):

If they feel violated, even though it's written in plain English, everything's up to interpretation and intent, right? So these are things to look at and make sure when you hire somebody to represent you in real estate, they do cover the a to Z to how this whole process works. So you're not left out of money and deposits and sometimes are $10,000 and more you lose that. You might not be able to buy a home depending on your financial wherewithal. That's good advice. So just pay attention to that. All right. So we have those properties 232 single-family residences for sale out of the 3 24 63 condos and 25 townhomes. What I want to do is break this down because everybody's talking about this pending or a foreclosure market, something coming here at the end of September when the forbearance is over, and that's going to be forbearance with rentals, from what I understand, and also forbearance with regular mortgages forbearance, if you don't recall, was the implementation from Fannie and Freddie, the two government, um, services for loans.

Connor Macivor Santa Clarita real estate video new (10:33):

They actually allowed people not to have to pay those mortgages for a particular amount of time. It was actually supposed to end June 30 and then with new things happening with the COVID virus and so on. Now they extended that to the end of September, the end of September, once that rolls around and we're going to find out what kind of an impact that potentially could have on the real estate market, how many people are able to continue making their payments or the people are they going to default, or is the bank going to give them some kind of a workout solution? Now I think option three, that workout solution thing. I think that's going to be prime. I think the banks are going to do their best to work out with people. If they still can't maintain a mortgage payment, as it comes to September, October 1st, that's when that payment would be due or whenever the structure of your loan happens to be if you happen to be in forbearance when your normal payment was due, but that also might be an adjustment.

Connor Macivor Santa Clarita real estate video new (11:34):

Maybe the banks are given an extra month or given a few days or whatever it may be. That's something to definitely call your service. Or if in fact, you are, and that's the lender, the people you're writing, the check to, if you are behind and forbearance is coming up, it's not a bad idea to call them and find out what's going to happen next. Do you just resume that next payment? Or do you have to pay to have the loan modified? Because everything has to be changed. Now, as far as when the end date is supposed to be, as far as having your 30-year mortgage or how much longer you have left, continue finding out what that date is. These are a lot of questions that haven't been answered yet. And I'm sure a lot of it's going to come to the surface here in the next few months.

Connor Macivor Santa Clarita real estate video new (12:17):

Just whatever you hear on the news, whatever you hear online, whatever you read the stuff I'm putting out, don't panic, make sure it's verified somewhere. So don't believe everything you're reading, watching, listening to. And I know I'm preaching to the choir on this, but I have a lot of clients that call me panicked and not because they've watched something I've produced, but watch something, on the mainline news. And they're looking like it's doom and gloom, which those items just never seem to come to pass. It sells realistic, sells news for the cycle, but they just don't last and hold up to scrutiny when they're looked at really, really close. So just watch yourselves when it comes to that. Now, as far as the breakdown of properties, 306, which is a big majority are standard sales. These are equity sales. These are people that have enough equity to pay the real estate commission on the agent they hired.

Connor Macivor Santa Clarita real estate video new (13:07):

And the one that that's representing the buyer and to walk away with break even or something, there are no defaults, a notice of default sales. That's a property that hasn't had a payment for a particular amount of time. Typically 90 days and the bank will start notice of default action in the court, notifying the court. And because of forbearance, I think a lot of that's been put on hold. So there's none of those. There are two foreclosures to real estate-owned properties that are out there in this particular market active and for sale. Uh, none are HUD on HUD is housing and urban development. So none, no properties are HUD-owned currently that are for sale. There is one short sale. This is a seller petitioning the bank via their agent to be able to sell the property for less than what they owe because what they owe is more than they would be able to make break even on the sale of that property after paying fees and commissions and so on.

Connor Macivor Santa Clarita real estate video new (14:00):

So now they're going to the bank via their agent via an offer from another buyer stating basically, listen, we have a hardship, it's this, this is our verification of why we have a hardship. We would like to sell our property or be allowed to sell our property for less than what the, oh, if an agent's good, they'll be able to get it into the bank. They'll be able to talk to some kind of an asset manager or a short sale department at the bank. If they even have those anymore, they were really big back in the day, they brought an extra staff and most of the banks to deal with all these short sales back in the last foreclosure market. We haven't seen that now because we haven't seen a short sale or foreclosure market in quite a while. The last one started in 2007.

Connor Macivor Santa Clarita real estate video new (14:44):

So now we're at 2021. Usually, they say real estate cycles run every 10 to 12 years. Hasn't finished yet. We'll have to keep an eye out to see what's going to happen in the future, uh, to probate listings. These are listings that are basically there are families involved, potentially. Uh, they have to go to court, they have to petition. They have to figure out who's going to get what, so that's two of those. It's not necessarily the case that they're going to take longer than a typical escrow time, but sometimes they do because people can't agree. And also it does take time to go back to the court with each different step, have the court approve or not approve it. In these cases, we've had a couple of attorneys recently, uh, tell our clients that we've been working with and we've been done probate before as well, telling them that they need to hire the agent that works for the attorney, not hire us and not good advice.

Connor Macivor Santa Clarita real estate video new (15:39):

It's the attorney stating that I think there's something else going on there. If you can read between the lines, but at the end of the day, as far as I'm concerned, we have done probate just fine that we've never failed at that task. We communicate well with the attorney and realistically if the attorney has their job and our job is to advertise and market that property and get the property sold and then wait for the responses from the attorney and the court, which they're fielding. So that's that part of the process. And again, anyway, I wouldn't, uh, I wouldn't do that zero auctions right now. Auctions were kind of big in the last market, I guess, as you kind of got onto it, whenever you get a lacking inventory, like we see there's clever stuff online. And by clever, I mean that people are putting things out there, building websites about auction properties.

Connor Macivor Santa Clarita real estate video new (16:32):

Just be very careful with that. If you see something that's actually in auction an agent should be able to get in there for you. Um, if you see that for yourself or they're going to send your property to auction, or you can make more money sending your property to an auction, make sure you're calling your local resource, your LOC, a local agent, find out what gives and what's going on. There's a lot of scams out there. So just be wary at the end of the day. You're not thinking you're going to sell your property for, you know, so much more money than you would get normally. And then only to find out that you were taken at the end, after everything finishes, you have to be very careful with that as well. Uh, no bank re- up see properties that have been put that way. Third-party approval requires there's two of those.

Connor Macivor Santa Clarita real estate video new (17:13):

Probably those are also the probate listings, uh, 17 properties that are in trusts, be bought properties, record, and trust all the time. Uh, those are 17 of those for sale and nothing with regard to conservatorship, looking at the numbers, especially with the heat, we're going to be getting back into the heat this week. It was really nice. Last few days in Southern California. I wish it was like that all the

time, but what am I going to do? 59 pool homes actually currently for sale. All right. So this is what I did, I believe is probably going to be an adjustment in this market.

Speaker 2 (17:46):
How much hard to say it's probably

Connor Macivor Santa Clarita real estate video new (17:49):
Not going to be massive, but what we're going to see is an uptick in real estate inventory.

Speaker 2 (17:54):
Now, as we get into the fall and

Connor Macivor Santa Clarita real estate video new (17:55):

In the winter, usually, everything slows down a little bit. I think we're going to see extra inventory added. I still think we're going to see a very healthy buyer drive all the way through the holiday season and the first quarter next year, first quarter, quarter. Next, the year's going to be a large kickoff point for real estate. And I wouldn't be surprised if we saw a three or 400% increase in real estate listings pushing us into the thousands. Uh, the thousand of active real estate listings. That being the case, depending on the buyer drive, we're going to see a relaxation in prices. We're also going to see the days on market timeframes increase from under 10, currently for most of the Santa Clarita valley real estate to over 10 and 20 and 30 days, that's going to bring the market probably back to something more normal. But again, that's going to stress a lot of people out because they're going to start thinking, well, maybe I missed the market.

Connor Macivor Santa Clarita real estate video new (18:49):

Not that really you missed it while you did. You did miss the market, but at the end of the day, it's going to come down to you still being able to get what you want. It just might take you a little bit longer to get there right now, currently, properties, like I said, less than 10 days typically, and it's all sealed up, done delivered. They have the property in escrow. They've received the deposit money and everything moves forward. They start inspections and all that other stuff. That's usually within 10 days on most real estate, that's for sale here in the Santa Clarita valley. A lot of the people stress out because they think that this market's going to end tomorrow. I don't see that uptick in inventory at this particular time. And maybe not even throughout the rest of this year, I still think we're going to be holding pretty true to where we are.

Connor Macivor Santa Clarita real estate video new (19:32):

But again, real estate slowing down buyer drive, slowing down because kids are now placed in schools. That's a big part of our market. People jocking for position to find that right school district, that's going to be slowing down as well. So that drives not going to be. They're going to have other buyers that aren't interested in school, at least at this point. So they're going to still be pushing forward. But that could also with the lacking of maybe 20, 25, 30% of the buyers. Now that could change the dynamic of the market, where properties go from sitting for, you know, 10 days now, maybe it gets to be 20 days or 25 days. And a lot of times sellers could panic. If they don't have a good advisor and they start to whittle down their listing price. And that could also be a problem or problem right now because of the high buyer drive when they hit that right price.

 

Connor Macivor Santa Clarita real estate video new (20:21):

Usually, that property sells, um, in different markets though, if you have more inventory, usually whittling down that price causes other people to do the same. And then buyers kind of sit back a little bit and tell the sellers, get done, battling them out. And then they go to the residents. They liked the best to make the offer. So be aware of doing a lot of price reductions. I do know that you'll be told from your agent, and this is true whenever you do modify the or verbiage or whatever in the listing on the MLS side for the multiple listing service with the board of realtors and that's our database. Once I go in there and modify something, then what eventually happens is the syndication sites re-pull the data. That's why, when you're watching property and you want to property for sale. Now, all of a sudden it appears not as being for sale because it's under contract.

Connor Macivor Santa Clarita real estate video new (21:11):

You might see a blip on your radar within the next two or three weeks, because sometimes the agents on purpose, we'll switch it back to active and then back to in escrow and that blips the real estate syndication sites. And then they generate that email going out to their clients that this property is active. Well, they usually don't generate a follow-up email stating up, sorry, it was put back into escrow. Usually, that secondary email isn't there, it's only just to identify and inform you that the properties actually active for sale. So then when you call your agent like I was called last week from a client, the property is actually in escrow. They just happen to make it active before they put it that way because they knew that it was going to get sent out to a lot of people. Again, potentially maybe increasing their call volume on the property. I'm Connor MacGyver, exp Realty, local agent here in Santa Clarita valley. When you're ready, reach out to me, it'll be my full pleasure to represent you and your friends and family be safe, Connor MacGyver over and out. 

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Aug. 15, 2021

Santa Clarita market reports for zip code 91355, 91354 and 91384 08.15.2021

We've generated 3 new market reports for you. Click below to view them:

Zip Code: 91355

Zip Code: 91354

Zip Code: 91384

We'd be happy to provide more detailed analysis at any time.

Thank you for using our real estate search engine. It has every property for sale and is updated daily by the official Real Estate Listing Database, the MLS. We look forward to helping you with all your real estate needs.

Feel free to give me a call or email if you're interested in a custom market analysis of your property. I'm here to help.

________________________________________
Connor "with Honor" MacIvor
661.400.3860 (my cell - direct)
eXp Realty
CALDRE #01238257
Serving: Los Angeles and surrounding Counties
Top 1% of Realtors Nationwide
https://SantaClaritaHomeExperts.com

Santa Clarita real estate market updatesBlessings to all of you who are here to find out how the market is doing. And Blessings to all of you looking for something else, you may have just found what you have been looking for.

If you don't see it, hit me up by text or by email, and I will take great care of you and find you that which you seek.

I'm Connor MacIvor with eXp Realty of California, Inc., That is a new change, but I believe it will be quite good when the dust settles.

I have been hard at it for my real estate sellers and buyers. This week we had several virtual showings of real estate for a couple of clients on vacation and two relocation clients. 

This market is super tough for homebuyers in the Santa Clarita cities. This includes those homes that are within the "sweet spot" range of housing prices.

The Santa Clarita sweet spot is viewed as those single-family homes that are at least 3 bedrooms with between 1600 and 2400 square feet priced below 900k.

Those homes last on the market only during the weekends in which they are being shown.

However, as of late I have seen a definite slow down in the SCV market. Instead of having 20+ offers submitted, we are seeing much less. The homes are still selling as fast, but with fewer offers written.

It could be that the home buyers are not wanting to compete as much, but if they want to buy a home, they are going to have to play the game for the time being.

I don't like this market to be honest. I'm happy for our home sellers, they are selling their houses at all-time highs. But the market has become expensive, to say the least. I own real estate here and of course, I'm happy, but when you are on the buyer working end in real estate, you cannot help but feel frustrated for your buyers.

There are buyers in this market who are removing all of their contingencies out of the gate. When they write their offer, they have submitted another document that states that the buyer "hereby removes all contingencies". 

For my buyers, to take that very bit step, it's not a good fit. Basically, that means, if they cancel for any reason, at any time, their deposit is forfeited and becomes the property of the seller. Of course, on the surface that is what it means. If people attorney up, it could change things, or delay that process. But, it's a very aggressive move for a home buyer who does not know anything about the home.

The buyer walked through the home with their agent. They looked everywhere they could. Some of the unknowns that could thwart their aggressive move are insurance claims. Maybe the owner has had a lot of insurance claims. The location of the home, Flood Zone, Fire Zone, Etc.. There could be mold that is not visible. There could be liquefaction, or a slope that needs reinforcing, or other issues, liens, and title issues. 

If you are a home buyer who is removing everything out of the chute - just be careful and make sure you are doing in knowing fully the implications. I'd say most of the time it works out without any issues. But, it's that one time that causes all the unnecessary pain and conflict when things go sideways.

Regarding the market reports for the Santa Clarita Valley cities, there are several available, including a market report for any other southern California City of your desire.

When you are ready you can make your own market report - click here.

I have been representing home sellers and home buyers since 1998. I am ready to fulfill your real estate needs and help you solve any and all real estate problems. 

Please call me and I'll take great care of you.

Finally, I do a real estate update that is syndicated on several different podcast networks. I also have a large youtube channel - Please go to SCV911.com to see the latest real estate update

Aug. 12, 2021

Canyon Country has the best real estate deals to be certain in all of the Santa Clarita Valley

I'm proud of Canyon Country. They have some of the newest homes and best valued real estate amongst all of the Santa Clarita Valley Cities.

That is out of the following:

  • Acton
  • Agua Dulce
  • Castaic
  • Newhall
  • Saugus
  • Stevenson Ranch
  • Valencia

Canyon Country real estate agentCanyon Country - 14 freeway friendly with a lot of the homes not having a homeowners association in place, which some people require when looking to buy a Santa Clarita home.

Furthermore, the mello roos and special assessments on Canyon Country real estate are also equally rare.

Another reason why Canyon Country CA is a client favorite of mine when it comes to buying and living in the Santa Clarita Valley.

Building new homes. There is a lot of this happening. There are two main arteries (freeways) that provide commute services to and from the Santa Clarita Valley into Los Angeles and other areas out south and west/east. That would be the 14 freeway on the east side of the Santa Clarita Valley, and the 5 freeway on the west side of the Santa Clarita Valley.

New home and new home construction sites are going to have an impact on traffic. I will venture to say the 5 freeway is going to receive the brunt of the impact from this over the next 10-15 years, then beyond.

The 14 freeways in Canyon Country will get hit, but not nearly as bad due to the lack of new construction slotted for the next 10 years. Unless new building permits get pulled - they will have new, that is best accessed by the 14 freeway - but not 40,000 new - as is slotted for access by the 5 freeway.

Canyon Country still wins traffic-wise. 

How about shopping - ease of getting to and from the supermarket and other entertainment centers.

Movies - they have them - Edwards.

Grocery stores - they have a bunch of those - Vons - Ralphs - Stater Brothers. Within minutes from most communities. Canyon Country has residences that are far from any freeway or city noise. If that is your taste, you will find it in Canyon Country.

There is a large shopping center, that is new - located off of Via Princessa and the 14 Freeway - due east from there. You will find Target - Chilis - Banks - Bed Bath and Beyond - fuel and other amenities where folks frequent.

Canyon Country has so much to offer!

Here is the breakdown for Canyon Country homes for sale by area:

These are going to reflect the newest Canyon Country listings on the market for sale. When you are ready hit me up and I'll take you to the next step which is you having the coming soon real estate listings for Canyon Country CA.

Selling Canyon Country real estate and homes

This is truly the best part of what I do. Helping buyers find those right homes, but to help a Seller Sell their home to a qualified home buyer, is truly my top 3 in life.

The other two - one is God and the other Family.

Now is the market that people talk about in Canyon Country CA to sell. Sell now, don't wait because we don't know if the market is going to continue to be this good tomorrow.

Well, I can assure you the bottom won't fall out very soon, if at all. The only risk of the day would be additional real estate inventory and homes for sale being added in Canyon Country CA that overruns the current buyer drive. (08.12.2021 date of this article).

Now we get multiple offers on our seller's homes. Our home sellers could not be happier. It's the market combined with good old-fashioned work, advertising, and marketing. 

I cannot be more satisfied with Canyon Country, and selling Canyon Country homes, and representing Canyon Country home buyers. 

Canyon Country has a lot to offer, I'd bet you would enjoy a personal tour and meet/greet to discuss Canyon Country real estate.

If you are contemplating selling your home in Canyon Country, the best advice I can give you is to be careful of where you leave your online footprint.

Meaning, if you are going to enter your address into some automated home valuation and pricing engine on some website, think twice before you do.

I have open-ended searches set up on Zillow, Trulia, and other syndication websites. The data is the same, but why are there so many different prices? Unless the data is being manipulated? Could that be? I don't know - and I'm not afraid to say so.

I pull all that data, I pull the multiple listing service(MLS) comparables that have sold within the last 180 days in Canyon Country CA. I pull the same/same data - apples compared with apples. I pull the real estate listings that are closest in square footage first, then break it down to the bedroom and bathroom count. Condition, amenities, and location of the home all factor into my valuations for the true Canyon Country residence value.

That's what you get and all that without leaving an online digital footprint with your personal and private information for the real estate scammers to use against you.

I'm a local Canyon Country real estate agent. My offices are located in Santa Clarita. I have been selling homes to buyers and representing Santa Clarita sellers since 1998. I'm Connor MacIvor and I'm glad to be of service to you.

When you are ready to have me handle your Canyon Country real estate business, call me or text me at 661.400.3860. Be well and please share if you know anyone who needs my help with Canyon County real estate.

Aug. 12, 2021

Selling a Santa Clarita home is all about timing and this is an interesting time

Within the last several months, it is August 12, 2021, we have seen quite a shift in the real estate market for home sellers. 

There was a time when we had a small number of multiple offers on residential real estate in the Santa Clarita Valley cities. Then that became quite ridiculous, where multiple offers (3-5 maybe) became 30+ offers received on each listing we put on the market for sale.Santa Clarita home selling agents

Of those offers, depending on what the buyers asked for, or did not ask for, we responded on the counteroffer form.

When your agent wants to respond to offers that they have received, make sure they send you everything, including a copy of the email from the other agent who sent the offer.

Most agents do not. The issue as I have seen it in speaking with a lot of clients after the fact they had a "bad experience" with another agent, is disclosure.

Sometimes, there are personal things included in those emails that can be quite revealing about the agent you hired to represent you.

Your agent should be fully transparent as we are when we send the offers received to our clients.

Now, responding to multiple offers, over 20, can be very time-consuming. The best way to handle this is by responding to the top offers.

Those which have been able to be verified. Those in which the home buyer has given all the necessary documents to accompany their offer.

The days of only sending an offer are long gone. When you are a Santa Clarita home seller and looking at the offers which had been received by your agent, you want the following items.

  • Lender Approval letter - matching the amount or higher than the amount of the offer.
  • (if possible) an Underwriter Approval (UA), its the strongest type of approval letter.
  • POF - Proof of Funds. If the buyer on the contract states that they are going to put a 20% down payment and they offer you $800,000.00 for your home, you want to see proof of funds (POF) for $160,000.00. Remember, these proof of funds need to be liquid. They need to be in an account the buyer has access to. If they are in some type of IRA or Deferred Compensation plan - hedge fund or investment, they may not be accessible, don't rely on the fact the home buyer or their lender should have checked - I catch these errors and they can equate to a negative set back on behalf of our Santa Clarita home sellers.
  • FICO - Scores - The buyer's credit scores - this is for all buyers coming in on the offer. There may be one person or multiple. The bottom line is you want to see where their credit scores are. It could be they barely make the cut between being able to get a loan and not get a loan. That's a tough position to gamble with. What if they charge one more item or increase the amount they owe on a credit card? That could mean the difference between them buying your home and not being approved.
  • Deposit - This is something that is promised in the purchase agreement. It's an amount of money, like a handshake. The POF should include this amount being covered as well. A solid deposit can be anything the current market dictates. In the Santa Clarita valley market, 7k ish - depending on the purchase price all the way to 3% of the purchase price seems to be the standard, then everything in between. Depends on the agent and their seller. By making the deposit too stringent, you may cut out buyers that may be offering more "total money". They just may be using a loan program that does not require as much down, but it will get financed and finished just the same as a heavy down conventional offer.
  • The OFFER - The RPA, Residental Purchase Agreement - Where the rubber meets the road for the Santa Clarita home sellers and us as their agent. This is where I can judge the agent who is scribing the offer and see what their clients are all about. Is this an offer from who? What are they willing to pay and what are they willing to remove without being asked. This is also called "giving uprights". What are they willing to waive if their offer is accepted? Where their items that were left out, costs that a seller usually pays ascribed to the buyer? I can also tell if the agent is seasoned or if they are new. This is not only with regard to how the offer was written but in association with their CALDRE license number (in most cases).

These are some of the items which a Santa Clarita home sales agent needs to take an accounting of. Some need to be investigated and not trusted beyond the paper they are written on.

The buyers all want the home they wrote the offer on. Sometimes, it's their representative who is lacking with the preparation and presentation of the offer.

 

There you have it. Something extra that a home buyer can include to ensure who they are will b shared. In fact, it was not my intention to start filming myself, but homebuyers can be shy. Plus, when the agents see me, I'm hoping we had some positive dealing or contact from the past together. Hence, this is an important step for both the Santa Clarita home buyer and the Santa Clarita home sellers I encounter.

Ok - real quick - I did not plan out the names of anyone. This was adlib.

Sorry, Josh and Joshua - maybe twins? And a quasi Jurassic park dinosaur name for the dog - well there you go.

I want you to be safe, I want you to make the best dealings when it comes to real estate and I want you to make sure you contact me when you are ready to have your real estate not just done but won.

This has been a Santa Clarita home seller tip from Connor with HONOR. eXp Realty.

If you want to see the local Santa Clarita real estate update we post that here.

 

Aug. 9, 2021

Selling homes in Santa Clarita Valley is exceptionally easy due the low inventory

PDF transcription of the Santa Clarita real estate market update radio show!!!

Santa Clarita agent Connor T. MacIvor fame 08.2021 (00:00):

Good to everybody. Connor MacGyver here with exp Realty, Santa Clarita, home experts.com for all the news and information regarding local real estate. Here in Santa Clarita, please go to SCV nine one one.com S C V nine one one.com. I'll post all of these updates and you can see the ones we've done in the past. There's a connection point to our radio show as well, where I take basically these videos and I strip out the audio and I plug them at a different podcaster, uh, podcast networks, iTunes, for example, Stitcher radio iHeartRadio, those sorts of platforms. So people get all of the information about real estate here in Santa Clarita valley. Now, right now we're at August 9th, 2021. This is your weekly broadcast for real estate. Today. We're going to talk about real estate inventory what's going on in the market and potentially what's going to be coming up here in the future.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (00:49):

Best Santa Clarita real estate connor  macivorIf I have that crystal ball that was never wrong. So I'll explain that to you. Also, currently in Santa Clarita valley, we do have a very tight seller's market, uh, meaning that there's not much inventory and a high buyer drive. So there's a lot of buyers out there looking for real estate. And in fact, when we list a property and I start getting the calls from the agents, you can hear the panic in their voices because a lot of them have been working with buyers for a very long time, showing them lots and lots of properties, writing lots and lots of offers. However, those offers aren't getting accepted for one reason or another two, probably have the biggest reasons offers aren't accepted on real estate today. It's not as high as the highest offer and potentially they didn't remove the appraisal contingency. So those are two things that really make a difference today, whether you should or should not remove it, appraisal contingency, that's totally going to be up to the buyer.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (01:51):

There are certain loan programs that won't allow it. So maybe a phone call to your lender to find out if that's possible for you to even do. And what that would actually mean is whatever the difference is between the appraised value and what you said you would pay because those numbers could be different. Whatever that amount is, you're going to inject cash into the transaction prior to the close of escrow, to make sure it finishes and you'll make a bet difference. Some buyers don't have the wherewithal to do that. Some buyers are unwilling to do that. Usually, people stop at appraised value, but with this market, there are buyers out there that are willing to go all the way. In. In fact, there are buyers that we've seen and actually remove all of their contingencies, right from the beginning, which is a really big deal.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (02:39):

Giving an example, what that looks like. Let's say they put down to be positive whenever you're purchasing real estate, that deposit is what, what the handshake used to be back in the day. So the deposit is basically yes, icon or MacGyver promise that this is the house I want to buy. And I give the show, the seller, a showing of proof that I'm very interested. So instead of a handshake, what I'll do is I'll say, listen, I'm going to deposit a sum of money into the escrow account prior to us, really even starting much of anything to let you know that I am serious. And this is after my offer spin was accepted. So I have a certain amount of time to do that after escrow opens or after the contracts are ratified and everything's executed. And then I inject that $10,000 in, well, backing up to the offer that I made.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (03:29):

For example, if I'm going to include myself as the buyer in the scenario that removed everything, I could put that all contingencies are hereby removed and I'll add that document to the offer. So basically if on day two, I discover something that makes me not want to buy the property. I will potentially forfeit that $10,000. If I contact the seller's agent through my agent and say, listen, I don't want to buy the property anymore. Whatever that may be, whatever that reason may be. So that's what removing all of those contingencies does. And that's a that's, that's a pretty hefty place to be. That's a big world to play in there. So you've got to be careful if you're going to start approaching real estate in that manner, but people do out of the shoot, they will do that. They know this is the house they want.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (04:21):

They don't want anything to interrupt it. So they will remove all of those contingencies out of the gate. It's not as common as people maybe just moving their appraisal contingency and taking timeframes and shrinking them down to maybe instead of 21 days to get a loan, maybe 15, maybe instead of 17 days to get their inspections done. Maybe 10, those sorts of things. We see that quite often, but that's the market that we're in. We have little inventory. In fact, I'll give you those numbers real quick, August 9th, 2021. So in the last seven days, this is the activity and this is going to include all the center, creative valley cities. We've had eight price changes. This is up from last week and the price changes. Um, you might wander up or down to increased and six down. So it looks like the market's starting to have some kind of an adjustment potentially.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (05:15):

We need a lot more than a week to be able to make that decision, but we'll see what the trends net week next week reflect seven new listings came on the market, seven listings closed. So we're at zero. As far as positive any listings, there are, uh, like I said, seven new listings. Um, these are active status listings, not coming soon listings. And the active listings that went into escrow, meaning they hadn't accepted contract on them were six pending properties that were switched from active in escrow or just over to pending. That was seven. And then of course, uh, seven properties closed escrow at one property was put on hold total on Santa Clarita Valley cities, guests at canyon country, new hall, saga Stevenson, Rancho Valencia, the core cities, uh, 304 total for the sale of those 26 are coming soon. And that would give us 273 active real estate listings.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (06:11):

And if you look back to a couple of shows ago, we were somewhere in the two twenties to thirties. So that is an increase, not a huge increase in order to take this market and push it back into a buyer's market, giving buyers more advantage. We need more competition. There's very little competition. In fact, sellers, most of our sellers that we're advising to sell their property today. If they contact us and want us to get a listed and ready to go, usually there's very little that they have to do as far as money-wise to prepare the property for sale. We just say basically Q-tip claim and declutter and depersonalize. Those are the three most important items for sellers in this market. Even if the home is data, just because there isn't anything to compare it to. There's no other competition out there on the market. Now, if there were five or six of the same type of residents, all in different kinds of repair, for example, maybe yours, you've done nothing to in 30 years, maybe the other four have had everything done to them over the past 30 years.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (07:15):

So everything's updated. It's either going to be you updating certain items to get more money out of it, or you taking the hit on the other side, all of those markets, though, can be worked on paper to see what it's worth. Is it worth it for you to put that time in listing that property? Now I promised you, as we get into this year, I was going to explain to you kind of some things that are coming up, kind of in that crystal ball approach. So let me do that. But before I jump into that, let me give you those online resources again. So if you're looking to get that real estate update, the real estate news it's SCV nine one, one.com. I'll take this video and other videos like it, and I'll put that on that page. So you'll have this data and you'll be able to watch it to find out where the market is.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (08:00):

I'm Connor MacGyver with exp Realty, our main site, which is also accessible at SCV nine one, one.com is of course, Santa Clarita, home experts.com. There you'll have your search engine. You'll be able to look for real estate. If you want to see the coming soon stuff, that's something that's going to be a little bit different. Email me, text me, or call me and give me your criteria. And I'll be able to set you up on that coming soon search. So at least you can be made aware of listings prior to them coming onto the market. Not all listings are put in that status. Some listings are not some just go live right away. It's going to depend on the listing agent and the sellers strategy as far as wanting to sell the residence. So these are things to see, and I can send those coming soon listings to you.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (08:46):

And then again, it could encompass up to 21 days prior to these properties, hitting the market for sale. Other avenues online, we have a lot of systems at Santa Clara, home experts.com. We have our blog, which basically we take every video. We do radio shows. We pull out the, uh, the text from it, have them transcribed, put that on there, and then also embed the show. And then you can search for houses, property, valuations, everything that you can do on the other syndication sites you can do on ours, ours, maybe a little safer because I'm it. I'm the one that sees your personal and private information. That's all go to other syndication sites, Zillow, Redfin. There's a lot, a lot out there. And that information is sold in some of those cases. So be wary. You don't want your personal information floating around online, and then you're followed everywhere.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (09:36):

You do one little search for real estate and all of a sudden Facebook, Instagram, tick-tock, they're all showing up with real estate ads just for you just built for you. Right? Funny. Alright, so here we go. It was the end of June, June was supposed to be the end of the forbearance and forbearance. If you don't recall, was the system that was put into place to assist people that were impacted by COVID forbearance was basically people contacting their mortgage or Fannie Mae or Freddie or one of their servicers and saying, Hey, listen, I can't make my payments because of COVID it's impacted my livelihood. So basically over the telephone, without any other showing of proof, whether true or not true, they went ahead and extended and said, you don't have to make a mortgage payment until further notice. So typically if you jumped on this in the beginning, you got a year that would have taken you to June 30th, and then now they've extended it to September 30th of this year.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (10:32):

So that's an additional three months. What that's going to mean to the real estate market could be a few things. It could be that a lot of those properties at the end of the time, still the property owners can't make the payment. Maybe they hadn't been saving. Maybe they still haven't recovered from

COVID that being the case, those properties could potentially be sold by the bank and a foreclosure type process sold to the banks. Another bank may be in some kind of a strategy, a bulk sale, for example, if there's enough of them. So there's a lot of things that could happen with those properties. There was a letter written from what I understand by Fannie and Freddie basically telling their service, there's no foreclose do your best to work it out with folks because they don't want to put this market into a tailspin.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (11:14):

Like what happened back in oh six and oh seven? The big critical difference is we have a lot of money in this market. There wasn't a hundred percent financing leading up to today. We had a COVID virus leading up to today and we had a lot of people not putting their houses on the market-leading up to today because of COVID. So the market is naturally lacking in listings. If COVID wouldn't have existed, it looked like last year, at least up into March, we were getting more and more listings on the market. And we were probably going to break a thousand throughout the year. And that would have probably made more of an even market where we wouldn't have seen these price hikes that we're seeing back to the ending because of the equity in the mall market. I don't see a big foreclosure issue coming up if any.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (12:00):

Uh, what I do see though is where the market's going to start to falter just a little, not huge numbers, but reduce is potentially going to be BXS numbers of listings that people have been waiting to put on the market, but having most of those people reified. So they're kind of sitting pretty right now, but eventually, they're going to get to critical mass. And they're going to say, you know what? I really need to sell. And they're going to put those properties on the market, not wanting to miss where the market is. Currently. Multiple offers people offering 80, 90, a hundred thousand dollars more than actual appraised value. And they're willing to pay that cash out of pocket. That's a tough market to mirror. As we get into the future interest rates could go up a little bit. They're talking maybe next year. So this year we're probably pretty safe with regard to that.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (12:46):

The thing that they can't control though, is going to be that excess of inventory. If in fact, that does happen and you know how that works, one person neighborhood goes up for sale, and then everybody else has all my gosh. We don't want to miss the boat. We better sell ours too. Now you have five or six properties that are all competing with one another in this market. Currently, it's going to take a lot of that scenario to transpire in order to have maybe the market start to develop longer days on market, because there are plenty of buyers out there. I think that's ending September is going to be the rental moratorium on COVID. So the renters that are out there renting properties, that haven't made a payment to their landlords for a while. They're going to have to start again. So some of the rumor is a lot of the people that couldn't even during this time may have to actually foreclose on these properties because they've lost their wherewithal to be able to keep the property.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (13:40):

Now that doesn't answer the question, whether or not there's enough equity in it, because this is an equity-rich market. So we'll have to see how that plays out, but whatever you hear online on the news, wherever your sources for real estate information, grain of salt, don't get too deep into anything because nobody really knows what's going to happen the best guess is that inventory is going to be the one that's going to drive prices down, but it's going to be minimal also interest rates. That's probably not

going to happen until 2022, and it's not going to be a massive amount, some huge hike. It's going to go nice and slow and easy. I'm Connor MacGyver. This has been your weekly real estate update exp Realty here in Santa Clarita, California, when you're ready or if you know, somebody just have them reach out to me, I'll be able to get everything set up, explain to them the process of selling a house best ways, best practices, and also best ways to save money and on the buyer end of it.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (14:32):

We represent buyers as well. So I will help you purchase either new housing, resale housing, or whatever it may be. Here's a tip whenever you want. I go out to new housing whenever you sign in, make sure that they know your references, buy a real estate agent, make sure that they know if you're going to be using me. That is Connor MacGyver is the agent that you're selecting to represent you. And then more than likely, they're going to say, we'll put Conner's name down as your representative or they'll say, well, Connor has to contact us. And I will. This is changed from the days where we could all go together and look at new housing. We can still do that in some parts, but as far as five points, some of the other areas out here you're unable to. In fact, the buyer has to actually app with the builder's lender before getting access.

Santa Clarita agent Connor T. MacIvor fame 08.2021 (15:18):

That would be the time I would go with you after we're granted access. After you actually went ahead and apt with the builder's lender food for thought I'm Connor. I can explain much more about all aspects of real estate. I've been doing this since 1998, formerly of law enforcement LAPD, but I'm here to help whenever you're ready. I want to protect and serve your real estate needs. Thanks for watching please tune in next week, we're going to have more of a show and we'll talk about more of the real estate market, which is definitely my passion. Everybody has a great week Connor MacGyver over now. 

Aug. 6, 2021

Los Angeles Police Department Firearms proof in hiring the Best Santa Clarita real estate agent

PDF for Today's real estate radio show by Santa Clarita agent Connor 2021-218

Below - is a transcription by an automated service of this real estate radio show and podcast. 

Connor MacIvor Retired LAPD to Real Estate Agent (00:00):

Good to everybody. It's Connor MC I ever Santa Clarita, home experts.com. I'm going to talk about agents, the quality of agents, and why it's important when you are selecting a real estate agent, I'm actually on my way to qualify. And that's kind of what brought this to me. I'm a retired honorably LAPD. So we have to qualify once a year to be able to keep retention of our CCW, concealed weapons permit, and all that stuff. So we have to qualify once a year. And what I was thinking, it's kind of back in the day, I've been in real estate for well since 1998. So quite a while we're 22, 23 years currently. So there's a lot of overlap with the LAPD. But I remember with an apartment, I taught a lot of different things. I got to teach firearms. I taught a Glock transition. I taught forty-five transitions.

Connor MacIvor Retired LAPD to Real Estate Agent (00:52):

I taught recruits from zero to heroes. I've taught in-service personnel. I've taught people that have been off long-term IOD, which is injured on duty or sick that have come back to the job, basically with them. It's just kind of, a retuning up. If you will, laptop people that couldn't qualify. I've taught people to get higher scores on bonuses, which is kind of the, uh, more professional, of course if you will, the more challenging course, and it actually pays, you know, cops a little bit extra money when you shoot that particular course and you do very well and you keep it up, you become a distinguished expert and you get a little bit extra money in your paycheck. So having taught all these courses showed me what little I knew. And, and I'll give you that example. You have an instructor, Dr.

Santa Clarita best real estate agentConnor MacIvor Retired LAPD to Real Estate Agent (01:41):

A firearms instructor. Yes, there's a real estate component to this. You have a firearms instructor that has been teaching recruits in-service personnel, other different entities within the department, because, you know, SWAT, for example, has their trainers. And also when there's a new weapon system introduced a lot of times, the firearms trainers will go train SWAT in a weapon system. And SWAT does a lot of its own training as well, but they have to get trained at first also. So I'm an instructor school to learn 45 transition for example, or Glock or whatever the weapon system is, uh, sets, which is shotgun instructor, a rifle. And I'm there with maybe somebody from the deep tune, which is SWAT, or maybe there was somebody from Metro. Metro is partner SWAT as part of Metro, one of the platoons. And they can also, you know, teach SWAT. But I mean, so you kind of see that overlap there.

Connor MacIvor Retired LAPD to Real Estate Agent (02:37):

So there is that engagement between different entities in the department, and that's kinda where that blessing came in. Yeah. But when you go, so going to school and learning how to be an instructor in a particular course teaches you very, the very top part of the iceberg. That's what it teaches you. So it gives you is the F the fundamentals on what the curriculum is, how it's to be presented, what you're supposed to speak about the dos. And don'ts, it gives you other information to convey to the students. And then, of course, it talks about the encapsulating final examination, which is going to be probably written and also performance-based. And, you know, writing is one thing. If you're going to be an instructor, that performance part, you better look wonderful. You better be impeccable. You better be perfect on your execution, whether it's manipulations and firearms, whether it's shooting, whether it's, you know, marksmanship the seven, you know, uh, the seven fundamentals, whatever it may be, you should be a hundred percent perfect.

Connor MacIvor Retired LAPD to Real Estate Agent (03:51):

You should know your safety rules. You should never violate. I mean, there's zero tolerance for an instructor, and that's the way it should be. So that's what the school teaches you on how to instruct, but what the school doesn't teach you because there's nowhere enough time the school's 40 or more hours, but typically 40 hours for a basic transition school or shotgun or rifle school. After that, let's say, you're an instructor. So you first, have to go to the school that the instructors teach, just a basic rifle, basic shotgun, basic handgun. You want to become an instructor. Then you take those, the instructor course, which in some cases could be longer. And that's where they teach you to teach it. You're already pretty good. But to get into the instructor school, you gotta be really good. So they're going to give you, uh, an instructor is going to give you a manipulations test.

Connor MacIvor Retired LAPD to Real Estate Agent (04:44):

That's going to be much more stringent than what a student would end up getting. It's just going to the basic school, because like I said before, you have to look really good and you can't make mistakes because you're going to embarrass the program, the cadre, and you're going to, it's not going to be good for the entire system. So that being the case, Connor MacGyver went through these different instructor courses. And back in the day, there were not enough instructors in the police academy. So I received a training notice that I'm going for an undisclosed amount of time, an unknown amount of time. I'm being transferred to the place academy or on loan to the police academy, firearms unit at Davis for LAPD. So I'm a motor cop. I get this training notice undisclosed amount of time, and nothing really changes. I still get my uniform, still, get my bonus, still, get my motorcycle, still get all this stuff.

Connor MacIvor Retired LAPD to Real Estate Agent (05:54):

But now I'm going to teach recruits at the police academy because there was a big hiring drive at that time. It wasn't until I went to teach what I had been an instructor in it wasn't until I went to teach that when I realized, I didn't know much of anything about teaching, about the different drills and techniques, I'll give you an example. I'm working with a recruit. I can't seem to get her light bulb to come on. She's scared to death of the recoil. She cannot hit the target because every time the weapon fires, she flinches like crazy. She flinches to an extreme amount and the bullet doesn't hit the target because what happens when you flinch, while your sights are no longer aligned, your press is no longer clean. And you're basically premeditating the press. And you're flinching prior to the bullet exiting the end of the weapon.

Connor MacIvor Retired LAPD to Real Estate Agent (07:07):

And who knows where that barrel is. Of course, it's downrange. She's not, flensing flinching nuts like that, but it's still downrange, but it's not. There's no semblance of grouping. And she's unable to do just basic qualifications while she's doing that. So then it comes down to how do you get a student, a recruit from being scared of the recoil and the flash and the noise and all of the business that the pistol is giving? Well. So here comes an instructor that instructed me 20 some years earlier. Well, 15, 15, some years earlier, he said he instructed me in the police academy when firearms were all done at Alicia park and officer Stephan came up and officer step-in. I had a piece of paper as to what I learned in the instructor's school. He not only had that, but he had 20 something years of experience to go along with it in training recruits in firearms. So he brings along an entire set of encyclopedias.

Connor MacIvor Retired LAPD to Real Estate Agent (08:21):

Now, was he able to fix her a hundred percent? He fixed her probably within two or three hours of work. And then she went on to become an even distinguished, distinguished expert shot, which not being

sexist, but as it lays out in the female realm, there are not very many distinguished expert shots on the police department that continue to keep up that certification. There's not very many, well, there's not very many of you to get it. There are not very many male officers that get it. So for him to be able to solve that issue, and then for him to be able to get that light bulb to come on and then hurdle apply the practice. And that's how we all get to Carnegie hall, right? Practice with that experience, that knowledge, huh? I really felt incredibly like a layman. Like I had no business being there. So anyway, after time, the time went on, months went on a couple of years, went off a little bit more than that.

Connor MacIvor Retired LAPD to Real Estate Agent (09:30):

And you know what? I started to pick up all of these additional abilities. So now I can take somebody. I have encyclopedias now too, and I can take somebody out and I can help them with a weapon system. So back to real estate, there's a comparison folk, selecting a good real estate agent has a lot to do with that experience, that knowledge you go-to real estate school. You ask anybody, you go to real estate school. They teach you a lot of things that you never use. A lot of antiquated terminology with regard to real estate that you don't even say doesn't even apply. It's not even in contracts anymore.

Connor MacIvor Retired LAPD to Real Estate Agent (10:20):

They talk about Les sorely. See, they talk about a lot of these different assignments with names and verbiage. And again, a lot of things are being applied today as they once were. And in real estate school, they're not teaching the nuts and bolts of negotiation. And that's critically important for a seller or a buyer, depending on who the agent is representing. Because if you're going with a novice agent that just went to the instructor school, or just pass the tests, there's the similarity. Then they're going to have just a little bit to offer and it's might not be enough depending on the market to help. Of course, everybody gets lucky, but to have that luck, continue to carry over is impossible. You have to have that knowledge and that experience. And that only comes with transactions. Lots of transactions set about Carnegie hall practice. Real estate is transactions.

Connor MacIvor Retired LAPD to Real Estate Agent (11:24):

You got to have those closings. You have to have that full experience. And the agents in the beginning, when they go on hire these different entities to help with the file, like a transaction coordinator, they're missing the boat, they're missing what all of that takes to get put together. So it doesn't make them as good as an agent that does it all themselves. 100%, at least for a while, while they develop the skill set and the expertise, it can take years, but that's that type of agent you want to hire. The one that has the knowledge and experience has seen it a lot. Maybe not all, but has seen a whole bunch has a lot of close transactions under their belt was standalone or in a partnership for a while, but didn't have a mega team where nobody knew what the other person was doing.

Connor MacIvor Retired LAPD to Real Estate Agent (12:19):

Didn't waste their time going to these breakfast meetings that the agents love to go to, where they just get basically discounted breakfast and sit and talk about the weather and things going on. I've never seen one deal come together as a result of going to these big agent meetings that have all these other entities there. Because why, because at the end of the day, the sellers are still going to want the most capable buyer. There is. That's what a seller wants, the highest price, the best terms, and the buyers want the best deal possible with the best terms and the best price for them. Anyway, one of these breakfast meetings existed, two words, breakfast, breakfast. That's why they exist off that horse. Back to this, I'll tell you, when you select an agent, having somebody that's got hundreds, if not thousands of closed transactions, having somebody that actually understands all aspects of real estate and furthermore has negotiated many transactions.

Connor MacIvor Retired LAPD to Real Estate Agent (13:28):

And that's incredibly important, especially when you have multiple offers on a property, your agent's going to have to try to talk to that. Seller's agent. If he's representing you as a buyer, talk to the seller's agent and try to get some more skinny on how that offer can be better written. Maybe not as far as price, maybe you're tapped out. Maybe not as far as financing, maybe that's the best you can do, but what are the other little things? Maybe the seller has an affection for edible arrangements. Maybe they love melon. Maybe that's an option, not saying to do it, but I'm saying maybe that's an option. Finding out those things you can do. Maybe there's a scotch purse. I don't know, take them a bottle of Jamieson. It just depends on Macallan. It just depends on your agent and their abilities and their ability to be savvy.

Connor MacIvor Retired LAPD to Real Estate Agent (14:26):

I'll tell you this. When hiring a real estate agent, you definitely want to find out that knowledge and experience and don't rely on the internet systems to tell you, because each one of those systems that say we have the best agent, best agent find the best agent here. We do our research. We do this, we do that funny thing is whenever they generate a lead, they don't come to the best agent Connor cause I'm on their website and say, O'Connor, uh, here's, here's one for you. Thank you very much for being the best agent in your market. No, no, no, no. They call Connor and say, well, you know, we've been doing some research. You're a pretty good agent there. We'd like to put you on the website and it'll be a 25% thing very much, or it'll be a thousand dollars a month. Thank you very much.

Connor MacIvor Retired LAPD to Real Estate Agent (15:08):

That's what they do. That's the trick behind those websites. So whether they selected me out of a hat, which I see some of the folks on there, and I think that's kind of the method. They'll tell you, they do it differently, but it's easy, to skew the numbers when there's no proof, there's no showing of proof. They don't need it. So don't rely on those systems either. Well, you're going to interview the agent. You're gonna sit down with them and you're going to find out what they know and find out what kind of closings they've had. Find out how long they've been in the business. Find out how long they've been operating and then see if they're a good fit for you and have them maybe some stories about clients. Where, where have your knowledge and experience paid off for a client in the recent past?

Connor MacIvor Retired LAPD to Real Estate Agent (16:02):

And Hey, can I call them, can I call them and get a reference? Wow. That's, that's weird. I'd love for people to ask that. Yeah, yeah, absolutely. Call. I got five people. You can call, call him, call him, call him, call him. That's uh, that's incredible. It really is. I'm Connor MacGyver. That's. That's where we are. Um, almost a Davis. Now I just drove this entire time. Santa Clarita, 60 minutes to Davis training facility, LAPD, and about to see the security guard up at the gate. I'm gonna let you go, go to SCV nine one one.com S C V nine one one.com to see our weekly updates. As far as real estate goes, this won't be posted here. That'll be a little extra. I'll probably YouTube it and also send it to our radio channel. And I hope to talk to you soon. Whenever you're ready. Please reach out to me. I'm always interested in accepting new clients. I want to help people. If you know somebody that wants to buy or sell real estate, I'm here for them as well. I am Connor MacGyver. Thank you so much for tuning in. We will talk to you soon and have a flashed week Connor MacGyver over and out. 

Aug. 5, 2021

LAPD Retired Qual 2021 all ranges reporting

LAPD Retired Qual Schedule 2021 - all ranges

(click the photo to load the PDF schedule)

Posted in Blog
Aug. 5, 2021

Buyer and Seller tips for home inspections in Santa Clarita real estate 2021-

 

PDF for Santa Clarita radio show - home inspection tips for buyers and sellers

Connor Macivor Santa Clarita realtor advisor radio (00:00):

Happy real estate clients in Santa Clarita CAGood day everybody. August 5th, 2021. I am Connor MacGyver, exp Realty, Santa Clarita, home experts.com. This is not as much as a real estate app day cause we did post one of those very recently@scvnineoneonedotcomscvnineoneone.com. You'll be able to see that update. What's going on in the room. Say we're going to talk about home inspections. It's a necessary part of the process, even though now in the current market where sellers are basically controlling the entire game, we still want buyers to do home inspections and most buyers do definitely agree with that. Some of the kickbacks we might get maybe with new housing because there is an extended warranty on new housing, typically offered by home builders. That can be anywhere from one to 10 years. We've seen that in the process. So if something does break during that time, something may have been missed. And the final walkthrough, the final inspection with the new home builder, there are people that you can call that will come out and respond.

Connor Macivor Santa Clarita realtor advisor radio (00:57):

Now, the trick with that with new housing is it's not always the best response you get. And in some cases, it takes a long time to get people out there, but at least there is somebody to come take care of it, versus what the home inspection that's going to be something on a resale house and even new housing, you might be able to catch it upfront. So they fixed it before you actually close escrow. That's the advantage to having a home inspection, even a new housing. And I believe it or not. We've had some very interesting things discovered, uh, with regard to new housing, when it came to a home inspector going in and looking at the property, we've seen, uh, actual drains that haven't been connected inside the actual pan of the shower. We've seen that a few times. We've seen where they have the hot and cold water reversed, which isn't a huge deal, but if you're used to it a certain way and you have some instant, hot water apparatus in the house, it could be a problem.

Connor Macivor Santa Clarita realtor advisor radio (01:55):

We've also seen a lot of finishing defects, finishing defects that you really wouldn't catch. They're going to be kind of maybe near outlets under cabinets around pipes. They didn't fill it with styrofoam or they didn't finish it properly. Things that might give access to some kind of, uh, an insect or some kind of a bug or maybe vermin coming into the residence because those portals weren't sealed as they should have been. And then also of course, even with new housing and resale housing, you have the slippage of tiles on the roof. If they happen to have that concrete shingle type thing or some kind of Mediterranean finish or any of the ceramic clay type tiles, a lot of times they shift, and depending on when they were put in, maybe we had some kind of a little tremor here in Southern California. It does happen where those tiles actually move.

Connor Macivor Santa Clarita realtor advisor radio (02:43):

And if you don't have the home inspection, you might not know that for years until the next rain. And then potentially if the paper's torn underneath, you could have a problem. So those things are revealed, but bringing us back to regular real estate resale with the home inspection, typically that fee is anywhere from 250 upwards of seven, $800. It's going to be very home inspector dependent. Some of them charge thousands of dollars. Some of them charge hundreds of dollars. So their typical price is going to correspond to square footage and numbers of bedrooms and bathrooms usually. So they kind of want to know what they're getting into. And if there are multiple structures on this particular piece of property, again, the price is going to go up. If you want the home inspector to include, let's say they have a swimming pool to include that that's also going to increase the price.

Connor Macivor Santa Clarita realtor advisor radio (03:39):

One of the things that I would say is in regards to the steroid pools and other things that may be outside of the home inspectors, regular training, they might have had training in roofing. Maybe they were a roofing contractor for a long time before they decided to be a home inspector. Maybe they were a pool person or pool and spectrum maybe even had a cool pool play to clean a pool cleaning service for a long time. That's also valuable. But again, if they haven't had that training and, and you're hiring them to also inspect the swimming pool, I would throw a little bit of caution to the wind, no offense to the home inspectors out there. But I do one thing. I do residential real estate up to four units. That's what I do. So anything residential, anything that's real estate up to four units. I'm there anything above four units and you start getting into commercial real estate.

Connor Macivor Santa Clarita realtor advisor radio (04:29):

I don't do that. I don't have that training nor do I want to get that training. I'm very happy representing buyers' and sellers' real estate resale up to four units for residential properties. That's where I'm happiest. Now I have the training and other things. I have training in firearms. I've taught police officers for a long time when I was with the Los Angeles police department. So I've extra training, but that doesn't overflow into real estate nor I can imagine a scenario where it would, uh, me showing a house one moment and then taking the same people out and teaching them how to shoot. It. Doesn't really fit then to real estate. So moving over into the home inspection world again, if they have that training and experience, it could overflow very well. If in fact, they have that history with regard to pools or roofs or whatever else it may be.

Connor Macivor Santa Clarita realtor advisor radio (05:18):

But usually, it's this. When they get to the house, they start their inspection. If they run into something that is not part of their general understanding, it's not within their toolbox. They really don't know what it is or what it's about. Then they will refer you to a different entity, some other company, some other professional, some other contractor licensed professional that would or request you request them. That would be able to come out and look at the property. A big example of that is when you get there. And again, let me step back real quick. Whenever you're looking at properties, you find the one, we write the offer. We happen to get that property. You're in escrow, the home inspection scheduled. Usually, it happens within the first 5, 6, 7 days. I want everybody to be there. That's going to be on the title. If there's one person on title, I want them there.

Connor Macivor Santa Clarita realtor advisor radio (06:10):

If you want your parents there, bring your parents. If you want your friends, significant other strangers, whatever it may be, have them come as well. Because what's going to happen is once the home inspector gets there, they're going to start to go through the property. You may have questions. And a lot of times, you know, they're busy doing their work, but a lot of times home inspectors are very open to having you ask questions along the way. Some of them want you to wait till the end because they have a general recap. And usually, they'll cover the items that you may have had questions about. But in general, home inspectors are typically very friendly and they do give a lot of, they exhibit a lot of patients, the properties when it comes to those inspections, excuse me. So running through that, whenever the home inspector is looking at a property, talking about recommending other specific advisors, they could get there and they could look at the roof, maybe with some kind of, uh, uh, a platform or they can use the ladder.

Connor Macivor Santa Clarita realtor advisor radio (07:07):

They could crawl up there. They could drone it as well, look at the roof. And let's say they see things that are slipped or moved. That would typically be the case to have the buyer recommended that you go hire a roofing contractor to come out and look at the roof. So whenever a housing inspector identifies problems on a roof, the next general step, for example, would be for you to now, let's get a roofing contractor out the router and have them look. And usually, there's going to be a large difference between what was deduced in both processes. The home inspector is probably going to identify X number of issues. Once that roofing contractor gets there, they're going to find more. They're also going to be able to verify other things. For example, they're going to be able to verify the paper underneath the tile is in fact, worn doesn't need to be repaired or placed.

Connor Macivor Santa Clarita realtor advisor radio (08:00):

They're going to know more because they're going to dig deeper. Plus that's their professionality there. Their professional training is that of a roofing contractor. So they're going to have a lot of other advice for you. And with that, they'll be able to put a price tag on it, where the home inspector, my guesstimate, this cat is going to be doing the work or could be doing the work. So they're going to put a price tag on it and say, it's going to be $2,500 to replace 50 broken tiles and you know, 15 shoot, 15 feet of paper, whatever it may be. So they're going to put that recommendation together. So you're going to have that as a buyer, to be able to submit to the seller with your request for repairs. Now in this market requests for repairs, don't go very far and I'll be completely frank with you.

Connor Macivor Santa Clarita realtor advisor radio (08:41):

The sellers know that they have most of the buyers pretty much held captive, and that, uh, there's a lot of buyers out there for each individual property. So that being the case, whenever a buyer steps forward through their agent to make some kind of a request for repairs unless it's something that's called out by the appraiser, usually the sellers aren't super excited to help because they know they had other offers. They probably chose this buyer because this buyer was willing to pay the most. That should be enough to maybe motivate the seller, but in some cases, it's not. So don't be offended. Understand when you're purchasing real estate here in Southern California unless otherwise express properties are being sold as-is. So you're going out and looking at residential real estate, understand that what you're buying is what you're going to get. When the inspector goes through.

Connor Macivor Santa Clarita realtor advisor radio (09:33):

If they find things wrong, then we will formulate a request for a repairs list. Even if we said we wouldn't it's okay, because all the seller has to say is no. Or are you Mike, catch them on a good day? They might say, you know what? Yeah, I've been meaning to fix that. I think that's probably a safety issue. We'll go ahead and get that done for the buyer. Or we'll give the buyer a certain amount of credit to have that done as well. So they can do it themselves. Some at some later point in the future after they close escrow. So there are a lot of ways to approach it. But what I was going to say is with regard to home inspectors and them identifying problems after the list is compiled. Usually, the best thing to have with the list would be professionals telling you what it's going to cost to remedy these situations.

Connor Macivor Santa Clarita realtor advisor radio (10:19):

So the seller knows that you're not actually gouging them. So for example, if there's a GFI outlet, ground, ground fault intro, or I believe is what that stands for GFI. So basically it's those outlets that have that reset button in them. So they have a small fuse or some kind of an overload protector.

Whenever those blow, whenever they get too much energy in them, they'll actually pop the circuit and shut down the circuit. So nothing catches on fire. A lot of times, those don't work. So that's something that's very common when you're looking at residential real estate, those things need to be repaired. The outlet itself is probably less than $20 to have it put in. It's probably less than $20. If you can find electricity, that will just come to do one thing without some kind of a minimum that's about what it costs. But when a buyer then approaches the seller and says, we want a thousand dollars, because, uh, this GFC, I, this, this ground fault circuit, interrupter, GFCI outlet, isn't functioning.

Connor Macivor Santa Clarita realtor advisor radio (11:19):

Well, what does that look like? It doesn't look good. And the sellers usually don't, aren't very friendly with those kinds of responses or requests from buyers. It happens. So you have to do it carefully. Now it's talking right about the earlier appraiser. When the appraiser goes in, well, the appraiser's going to mandate certain things. And it depends on when the property's located, where it is. If it's in Santa creative valley, it's going to be less than in Los Angeles, Los Angeles, there are retrofit standards. They go above and beyond real estate race resale in Santa Clarita. If you want to know what those are, reach out to me, I'd be happy to explain it or maybe a video for another day, but back to the home inspection. At some point, there's going to be an appraiser. That's going to go into the property. And while the home inspectors also going to check for carbon monoxide, they're also going to check for smoke monitors to make sure they're all placed correctly.

Connor Macivor Santa Clarita realtor advisor radio (12:08):

And they're all functioning. Be home. The appraiser will as well. And the home appraiser, just so you know, they get hired by the buyer's lender on behalf of the buyer. So they're going to go out to the property and they're going to be the ones that are going to check for these various items. And it also depends on the loan type, the condition that the property needs to be in. So the appraiser doesn't say that the seller needs to do this, this and this before closing, which happens sometimes, for example, if it's a VA loan and there's a room and they're missing carpet, and there's an exposed slab, the VA appraiser could say, we're not going to loan on this. Now, this seller has to repair that and put that carpet in that room before closing. So then some of the sellers are coming back. We're not doing it.

Connor Macivor Santa Clarita realtor advisor radio (12:58):

So then the VA won't loan on it. So then the buyer steps forth. It may say, well, you know what, Connor, I got an uncle that puts in the carpet. It's not going to be more than four or $500. There are liability issues there. What if somebody comes and breaks a hip or falls or trips, you have liabilities with the seller. What if something else happens where the transaction doesn't close and it might be something not having anything to do with the buyer. Maybe there's an earthquake. Maybe there's another fire issue in Santa Clarita. Maybe that happens. Maybe there's a lot of rain, torrential, rain, maybe a little bit of a flood. Whenever those big natural disasters happen, everything gets put on hold. That includes real estate. So all the things that were in a process that we're closing, that we're working for closing, they all pull back.

Connor Macivor Santa Clarita realtor advisor radio (13:46):

Why? Well, because insurance has to be written on every property sold. So that being the case, insurance is going to pull back. They have to reevaluate. Now they have to see if they're going to even survive. All the claims that are going to be put in after a natural disaster, should insurance companies be completely solvent, probably, but that's a story for another time. Again. That's what ends up happening.

So the appraiser goes in and looks at it. They could come back and they could say, well, you know what? Everything's great. Except for this. We want to try to have the sellers, get those things done ahead of time. If we're representing the seller. And if it's a buyer thing where we're going through the home inspection with the buyer, we definitely want to request that on our request for repairs, but understand at the end of the day, the seller may say no.

Connor Macivor Santa Clarita realtor advisor radio (14:35):

And then we kind of run into an issue. Now, how often do they say no? When it's an appraiser request? Very rarely because the appraisers have certain guidelines they have to adhere to. In addition, that seller knew the loan type, that the buyer at the very beginning, because it was explained to them by us. So they know what I know that going in. And if we did have the video, the buyer coming through another agent to us to be presented to our seller, I would explain to the seller that yes, could be an issue with a VA home loan. If they had that issue existing in their residence. After I did the walkthrough and listed it and took the pictures and everything else, I would explain to them this, you need to fix this and this item over here, because if we haven't let you get a VA loan.

Connor Macivor Santa Clarita realtor advisor radio (15:22):

Are you gonna wait till we, if a will, the last person standing is a veteran VA loan, then fine. You'll take care of it. But if it's a conventional buyer, then you won't have to, because it's not going to be called out by the appraiser. So different ways to handle things. But you, as a home buyer need to know that home inspection is very important. And it's one of those deals that you pay for during the time of service. As soon as SU services are finished, as soon as he finishes the home inspection that day, you pay him, whether it was a credit card beforehand that you gave him. Because a lot of home inspectors they'll communicate with people prior to closing. So maybe he already got your credit card number for that fee, or you pay them on site. He scans it there, or you bring a check or cash.

Connor Macivor Santa Clarita realtor advisor radio (16:08):

Everybody loves cash apparently, but you bring a check or cash at the time of the home inspection. If you've got to pay him in cash, say, Hey, is there an additional discount I'm going to get? Because I'm paying you the cash. It doesn't hurt it. Doesn't hurt to ask that question. These are business people. So they understand, those sorts of things. At the end of the day, though, that home inspection is important. He should prepare a report and that report should have pictures and explain everything. So if you are going to reference this, if you are going to place a risk request for repairs, for the seller to look at, it'll be all laid out. Nice and neat. So he'll be able to look at the picture and say, oh yeah, that wire is exposed. Or this junction box has been left open, or this particular sink fixture is leaking, or there is mold or some kind of, substance on this particular flooring or on the back of this particular cabinet, whatever it may be.

Connor Macivor Santa Clarita realtor advisor radio (17:03):

These are all important things. And not all home inspectors folks are created equally. Either. Some of them have much better equipment than others. Some of them have these thermal cameras that can pick up moisture within walls. That's helpful. Some of them have drones that are able to fly properties and really look at roofs. Well, instead of having to get up there and walk on them and some of them have other cool items that actually help identify other issues with properties. So you might want to ask that going in, we have a great list of home inspectors that we recommend our top five and their top five because they're very,

Speaker 2 (17:42): It's a good word.

Connor Macivor Santa Clarita realtor advisor radio (17:43):

They're very critical when they do their home inspection. So they're going to point out as captain obvious might, but they also find the other species the other specific problems with the residents. So they're going to pour it on those walls. So that's home inspection and nutshell at the very end, after the home inspections are done, most of them have a recap and no against nothing against sellers, but typically if a seller is present during a home inspection, it creates issues. So we definitely want the sellers not to be there and we're not trying to hide anything or set the seller up, but it's frustrating for the seller to have a home inspector go into their home and start pointing out things that are wrong. When the homeowner probably doesn't think those things have any issues at all. And it happens quite a bit. I've actually seen fights almost break out because of the scenario.

Connor Macivor Santa Clarita realtor advisor radio (18:34):

So this is what I recommend to fix that the seller shouldn't be there. The seller's going to get a request for repairs later in a report. If the seller's there, it could help in regard to maybe the home inspector can't turn on the furnace. Maybe there's a trick. Maybe there was a toilet that was shut off. One of the valves, maybe a valve was shut off on a toilet home inspector. Isn't going to reopen that valve because there could be a problem. Now, all of a sudden the property is flooded. They won't do it. Maybe they could ask the seller at that time, but we find very good communication at the time of a home inspection because we'll tell all our sellers to be available while they're inspecting your house by telephone because maybe the home inspector is walking through and finds a light switch. Can't get the light swatch switch to correspond to any kind of light or fixture or item.

Connor Macivor Santa Clarita realtor advisor radio (19:24):

And then maybe that's a good question. So then that agent will send me a text message. Hey Connor, we're doing the home inspection on 24 13 eucalyptus. Can you please ask the seller what the light switch in the den does on the far wall? So then I contact the seller. They see all, you know, at that light switch controls the outlet on the floor. The outlet just wasn't flipped over. So nobody really knows it. Oh, that makes sense. So that's what it controls. That's what it does. Give that back. And then boom, by being then you don't have any issue on the home inspection report regarding that item because the seller was available. But at the end of the day, whenever you have the seller present during that final recap, that's a major issue. So I always separate all parties. If the home seller happens to be there and the home sellers understand this very well after I get done giving them what I think of I'm going to be representing them as to why they shouldn't be there.

Connor Macivor Santa Clarita realtor advisor radio (20:18):

At the very end, you have a recap. So if the home sellers are there, I take it outside. I say, all right, home inspector buyers, thank you, Mr. Mrs. Seller, we're going to go and we leave. And we go discussing on the street. We're not trying to game plan or have some kind of a conspiracy set up against the seller. We just want to be able to talk candidly. And typically nothing is going to be a deal-breaker. Usually, everything on your first assessment of the property, when you first viewed it, usually those deal breakers jump out at you and you stop. And you don't write the offer. Very rarely as something of any significance found later, that could cause you to cancel the transaction. Some of those things and home inspections I've

 

seen is extensive termite damage. Yes, it can be fixed, but who knows how long it's going to take and at what cost, and if the seller is going to agree, you can always ask and then reevaluate at that time.

Connor Macivor Santa Clarita realtor advisor radio (21:16):

The other thing I've seen being big deal breakers is mold again, extensive mold due to adaptiveness, especially on or not sheet paper under wallpaper, under wallpaper, and bathrooms that could, would form a moisture barrier. And that moisture barrier could be harboring moisture from the shower and have created mold over the years. These are big issues. And then the question comes in. How far is the mold spread? What's it going to cost to fix? These are things that I've seen become deal killers after a home inspector goes and looks at a property, but wouldn't, you rather find out now before you get too deep into escrow or after you remove your contingencies and you cancel the deal because you can't live with it may and you would've known item and a lot sooner, but you can't live with it. So you cancel escrow and you lose your deposit things to think about.

Connor Macivor Santa Clarita realtor advisor radio (22:13):

That's a little bit about home inspections. That's how I handle them from my buyers. That's kind of how I speak with my sellers with regard to what's going to happen and why that's a necessary part of the process. I'm Connor MacGyver, exp Realty headquartered here in Santa Clarita valley, longest Raymond running longest-running radio. Yes, here in Santa Clarita. Hope you're doing very well plays. SCV nine eleven.com. You'll be able to see the latest real estate news. I do update that video often and I'm Connor. Thanks so much for watching. You'll be safe over and out. 

Aug. 3, 2021

Santa Clarita real estate market predictions for 2021 Quarter 3 and 4

PDF for Santa Clarita real estate market prediction transcription

Santa Clarita home experts market predictions (00:00):

Good to everybody. I am Connor MacGyver. Thank you so much for tuning in to Santa Clarita, home experts.com. Of course, you want to get all the real estate news, everything going on in the world wildly in Santa Cruz valley SCV nine one, one.com been selling real estate since 1998, representing buyers and sellers. Today, I do want to talk to you about the real estate market. I want to talk to you, what I believe is going to be happening in the near future. That's going to create a little bit of a shift in the market itself, and everybody thinks that that will not everybody. A lot of online, people are saying that we're going to have this big foreclosure wave and that's going to be because a lot of these properties that haven't had payments made on them and especially the rental properties, those are the ones where basically the tenants, when COVID first started, they were given an out and stated that basically, they didn't have to pay their rent depending on where you were for a while.

Santa Clarita home experts market predictions (00:54):

And that's continuing through the end of September. Now for that time, they haven't made those rental payments. So those landlords, depending on how fiscally savvy, they were a Fesco fiscally established, it's going to depend on what's going to happen at the end of this. But in some cases, some of these tenants may not leave. So they opine that at that time, these owners are going to want to let go of these properties or potentially have to foreclose because they're, they've been in the red for so long. That could happen on a very small scale. I don't think it's going to be huge news, but it is something to pay attention to. And if you hear a lot of reporting on it, just make sure that you verify whatever has been reported with fact, and you find out where those sources are. I can come here all day long and say this hose in the backyard, isn't mine.

Santa Clarita home experts market updateSanta Clarita home experts market predictions (01:41):

But then I would have to prove it in some way, shape, or form. Whenever you're watching online sources with opinions, you also want to do that unless they're telling you that this is an opinion, as I'm telling you what my case is with regard to the real estate market, what I believe is going to happen. And again, it's all opinion, but there are a lot of people that were going to be putting their properties on the market last year when COVID started. And a lot of those people held back because they did a refinance. So there was a massive refinance, boom, last year during COVID, as you probably know. And if you don't usually after a refinance, people, the last thing they want to do is sell. At least at that time, maybe in the coming, you know, three or four months, eight, nine months, maybe that makes sense to them to maybe try to sell it again.

Santa Clarita home experts market predictions (02:26):

But at the time they do a refi, well, that's the last thing they're thinking about, but now it's going to be coming to where we've had probably better than a year, maybe 10 months since that market. So we're going to start seeing some of these sellers that wanted to sell last year, actually start to list those properties. The question is, is it going to be enough to change the market dynamic? Cause right now it's this, this is a dynamic seller's market, lots of offers on each listing. That's put together lots of viewings. The offers are written in such a way where basically these buyers are giving up their rights to do inspections, to have a particular contingency, timeframes, to allow for the appraiser, to go in there and verify the value where the buyer then has a choice. The buyers are actually giving up those rights.

Santa Clarita home experts market predictions (03:17):

And they're saying in a lot of cases, you know what? I don't care what this property appraises for. I'm going to make this offer this amount and I'll pay you the difference in cash. We see this happening over and over again with the real estate that's out there for sale. And this happens within two or three days of the property being on the market. In fact, when a property is listed for coming soon and coming soon purposes, this is something that goes back about a year and a half, maybe to, uh, may of 2020, maybe 2019. So it was a new status that was pulling the multiple listing service. And you might've seen it online. Basically, the MLS was going to start competing with Zillow and Redfin, and realtor.com. They actually had fields that allowed agents to input listings that weren't in the MLS. So the board of realtors, I think kind of took it upon themselves, that, you know, what we kind of have to get out of the old ages and kind of jump in with the new.

Santa Clarita home experts market predictions (04:10):

So then they allowed agents to upload coming soon listings. The difference is, is ours are vetted and verified. And if I go in there and try to put something in fake, like I would be able to do on those other syndication sites, I mentioned, well, I would get in trouble quite a bit of trouble. In fact, I could lose my license and get fined for being false and misleading. So that's why the MLS is actually the best, the best resource to go to, but back to coming soon. So I have 21 days 21, I can take the property, put it on the market coming soon, and then see what kind of attention and focus there is from people out there looking online and also other agents, if the listing is going to be popular and I put the listing coming soon, I'll start getting calls and text messages and emails within minutes because somebody is looking for a property in that area.

Santa Clarita home experts market predictions (05:01):

They have a saved search in the multiple listing service. And that saves search is going to notify them immediately. Once a property does hit the market in that neighborhood, potentially in that price range or above it or below it, depending on how the settings are, but the agent and the person's going to be notified. If the agents tied up the person, the client that has the search set up for them, as we do for our clients, it's going to be notified. They're going to hit their agent up and say, Hey, this listing just popped on it's in the area I want. It's the housing type I want. It has everything I want. This is what I want. So you need to take care of this for me, in that particular case, the agent would then contact me and find out what's going on. I would say, well, we have it coming soon.

Santa Clarita home experts market predictions (05:42):

The first showings aren't until whatever date we established in the multiple listing service. And if they wanted to get in early, that's a seller option that could happen more than likely. Most of the sellers say, no, we have it coming soon for a reason. And we're going to hold it until that time. In some cases that agent, again, we'll go out there and have that offer written site and seen. But as part of the offer, they haven't written contingent on the buyer coming and viewing the property, which only makes sense. In some cases, though, they write a site and scene and they don't put that as a contingency at all. And in fact, they don't have any contingencies. That could be a problem for the buyers out there, but I believe this market is going to turn not because we're going to have a depressed state or some kind of economic impact, like the inflation that's going up.

Santa Clarita home experts market predictions (06:29):

It seems gas going up. I believe the biggest impact, not interest rates either. I believe the biggest impact is going to be extra housing inventory entering the market hand over fist right now, 260 units for sale

totally. And all total Santa Clarita valley, all the cities, we increase that by triple or quadruple, that amount gets up near a thousand, 1100. We'll see the market start to become a little more stagnant because now buyers are going to have a lot more to choose from. And in those amounts, that's probably going to outrun the number of buyers we have currently in the market today. So looking near the future here, coming at the end of September, the forbearance coming to an end, that's something to pay attention to. But if somebody's telling you, they have factual information as to why that's going to spear off some kind of a foreclosure or a depressed state of the real estate world, you need to get from them where that is, where is that factual information?

Santa Clarita home experts market predictions (07:26):

Or it's just an opinion like this is my opinion. I've been doing this for a while. It seems to make sense. That's where the break is going to come in housing. And what numbers are we talking about? 5%, maybe, maybe less, maybe up to seven, not huge numbers. When we get that extra inventory unless we get so much that it really puts the market back on its heels. And then at that time, sellers are definitely going to want to renegotiate those prices that they had said in their mind as to what was going to be good to ask for the residents. Maybe that number is going to come down and get a little less. Maybe the buyers are going to start to control the ball a little bit more because right now they have, they don't even touch it during the entire game for the most part, except when they fire it off without original, that initial offer, usually it's hands off the rest of the game and the sellers controlling it.

Santa Clarita home experts market predictions (08:19):

If we get that extra inventory, the buyers are, they're going to be able to pull it out and they're going to have that ball. They're going to be able to run with it a little bit. They're going to be able to request things like closing cost credit. They're going to be able to request things like having things, items, repaired, credits for different things that typically wouldn't be asked for, because now there's a lot more competition on the seller side, which we haven't seen for a long time. I believe that's where it's going to come in. I wouldn't be concerned about interest rates going up. That's kind of slotted more for next year. And when they do go up, it's not going to be dramatic either. I wouldn't concern myself with this extra, that the real estate market's starting to reduce because of overbuilding the new housing.

Santa Clarita home experts market predictions (08:59):

There's a lot of new housing building here off the five freeway and even off the 14, but with that new housing, we're seeing that it's going to be a little while before they're released. They can't build them fast enough. And we're talking an excess of almost 38 to 40,000 new residents as between five-point and they Hasley canyon project. We have all of those slotted to be built, but they can't go fast enough to overrun this current market. Give it a few years. Maybe that'll have an impact on real estate resale in the private sector versus new housing. But as it is now, we don't see that as much of an impact at all. Also, don't forget. Mello Roos does exist out here in Santa Clarita valley. It's starting to become more accepted because it seems like every new housing area besides a few, cause not all of them have it because they paid it at the very beginning. And that's kind of the trick. You're a builder. You go in to buy a bunch of acreages to start building houses. You have a choice. You can pay that that infrastructure freeze is known as Mello-Roos upfront, or you can pass it on to the event, um, individual homeowners.

Speaker 2 (10:12):
So in a lot of cases, you know, the builders, in some

Santa Clarita home experts market predictions (10:14):

In cases, they actually pay it upfront so they can set these prices for their houses and be able to advertise out there. These houses don't have Mello-Roos, but in most cases, that's not the case. You're going to see Mello-Roos corresponding to house square footage and price. So it's going to be a little bit more for some, a little bit less than others. And you'll see that maturity date, whenever the Mello-Roos finish being a certain date into the future. Um, a lot of the stuff I've been Saugus there, they're looking at 2056 being the end date. There's some opinion as to what it takes to keep those going. Uh, some opinion it doesn't take much. So maybe they'll end. Maybe they won't. Whenever I'm selling to a buyer, explaining to them the way it works. I wouldn't put anything in, in, you know, I wouldn't bet any paychecks on an actually stopping when it's supposed to.

Santa Clarita home experts market predictions (11:04):

So that's something else that buyers need to research when they start looking at residential real estate, a good, a good place to look, maybe HOA or maybe speaking with a title officer that has a background of Mello-Roos and that special assessment tax I wanted to give you this update. I believe this is necessary. It is timely. And there is a lot going on in the market. Currently loans and lending. We still have very low interest rates in the twos, for the most part, depending on FICO scores and credit, you're going to want to make sure that you get two opinions with regard to loans and lending. You have a bank that you work with. That's recommended, you know, go check them out, have them pull your credit, go to a local lender. Well, maybe a mortgage broker. They have two or 300 different sources of money.

Santa Clarita home experts market predictions (11:47):

And that being the case, they can pull on each one so they can find maybe a better deal here, which might give them a little bit more. And then they can discount you a little bit more, a little bit further as well. So that's how that process works. You want questions to ask lenders, reach out to me when you're ready, I'll be able to give you those questions. So you make sure that you're not being taken advantage of and you are being given a fair deal. And that's really what all of us want is a fair deal. I don't want to be taken advantage of. I was going to say something else. I don't want to be taken advantage of either. Whether I'm buying a car, buying a house, buying a suit, buying a pair of shoes. I want to be treated fairly. And I want to get the deal that I believe most everybody else is getting now to get a better deal than that.

Santa Clarita home experts market predictions (12:29):

Well, you're gonna have to call us. We want a better deal. Nobody else gives us a call. I'll be able to help you out with commission and also for buyers out there with certain rebates. I'm Connor with honor here at exp Realty in Santa Clarita. We really do appreciate it. When you're ready, please let me know. Also go to SCV nine one, one.com. You see my weekly updates, including this. I'm going to plug this in there. It's not going to be part of the main update, but at least this will, this is an opinion piece. We'll see how whole, how much it holds. True. We'll find out the other reason why this market is not going to collapse on itself is remember back in oh 6 0 7 0 7. When a new century bank fell in March, I believe I was here. I was doing this. I believe that, uh, when they did fall, it was like a house of cards.

Santa Clarita home experts market predictions (13:14):

But the reason why they did that was a subprime lender. And the subprime lenders were doing a lot of a hundred percent financing. So there wasn't much skin in the game, as far as real estate, not much investment as far as personal money. So people were buying residential real estate with nothing in, they

 

we're paying for a home inspection. They were paying for the appraisal. And so a lot of times that appraisal was also covered by the lender. Money was easy, everything was wonderful. Marker was an all-time high. But at that particular time, you were able to purchase a house with a hundred percent financing. Like if is if you were a veteran, no money out of pocket. When that market collapsed, it collapsed because we had very, very high prices and that sub primer kicked it off. So there are a lot of people not paying their mortgages.

Santa Clarita home experts market predictions (14:00):

Subprime lenders are for people that need a little bit of extra help. So they were getting that help, but they couldn't perform. You had loans being given to people that had no business buying residential real estate. They weren't, they didn't have enough standing at their employer and they didn't make enough, but greed under the picture. And I believe that's what drove that last market cycle down. And that's great on both ends folks. Everybody's responsible, but this market has a lot of equity. You have no idea how many deals weekly I handle and see where buyers are putting in 50, 60, 80, $120,000. And that's above what their down payment is. So they're buying into this market cash and they're doing it because there's no inventory and they really need to buy a house. That's a very personal decision. If you need to buy a house, that's the only people that should be in this market need to rest of you.

Santa Clarita home experts market predictions (14:56):

Folks should let's hold off and wait and watch how the market unfolds here in the next few months. Yeah. Can't keep going up forever. But it has been for quite a while. Yeah. I don't think we're going to see a foreclosure reset. Like they say supposed to have, but every 10 years, I believe that we're going to kind of keep nice and steady. If there is going to be a correction, it's not going to be massive, but it will be enough to maybe help some buyers out there that have been priced out of this current market and maybe solve some other problems as well. I'm Connor MacGyver when you're ready. SCV nine one, one.com. Reach out to me by cell phone. I'll help you out all day long. We are on August 3rd, 2021. And when you're ready. Okay. No, somebody, that wants to buy residential real estate or sell it I'm here. And we can talk about those credits and discounts. When you call be safe, I'm Connor with honor talking to you soon over and out.