July 30, 2021

Santa Clarita keep safe when wanting to rent or lease real estate in the SCV

Transcript from today's real estate show for Santa Clarita CA

Here is a transcription - computer-generated, fyi.

Connor MacIvor exp Santa Clarita home experts (00:00):

Good to everybody. I am Connor MacGyver, Santa creates a home expert, not common. I wanted to talk to you people out there that are looking to rent or lease properties and how to stay safe in this market. When the regular resale market gets really tight like it is now where at the end of July, July 30th, 2021, the resale market's really tight. The rental and lease market also gets exceptionally tight. And that's where we see. So we have very little inventory in the regular resale market. Very little inventory. For those of you that are just looking to rent or lease something, maybe your lease is coming due. Maybe you're moving in from out of the area. It's very, very difficult. So there are options out here in Santa Cruz, the idea of extended stays, but you know, really pricey, right? Because you're paying, you know, three or $4,000 a month.

Connor MacIvor exp Santa Clarita home experts (00:44):

And again, it's kind of like, um, you know, hotel living, if you will just not as high of a scale, but they do charge quite a bit for it. Another suggestion, believe it or not. Some of the bigger hotels, the Hiltons, the Hyatts, those that are a mostly higher dollar, you might actually get to see them being somewhat competitive with those extended stay type places. If you're looking for something temporary, while you're trying to find an actual rental that you can sign a lease for a year or six months or two years or three or whatever it is, but to keep safe, I will tell you this, there are some online systems out there that are basically put together by scammers. And what they're trying to do is they're trying to get you to give them money in order to give access to maybe a list of special rentals, things that are not on the market, they might be asking for money upfront in the form of deposits.

Connor MacIvor exp Santa Clarita home experts (01:35):

So instead of actually having, maybe you write a check, they say, we're only taking cash deposits for this particular property because of the popularity. And our seller wants to make sure that the funds are all verified and they just don't have time to do it themselves. So that's kind of the game and the scam. So number one, never give any proper hope. It didn't blow yours out without one. So I hit the mic, make sure you don't give a cash deposit, cash deposits are dangerous. And they're going to have this elaborate system. They're going to have receipts. They're going to have official-looking business cards, but all of it's going to be a scam. So be very, very careful giving anything in the form of cash. Now on the other side of that, you know, checks yeah, credit cards again, you know, they're going to have your credit card number.

Connor MacIvor exp Santa Clarita home experts (02:16):

They're going to have all that information. And what's the, if there are scammers and they're doing it to get some money from you at the moment, they might also use that credit card later or sell it or whatever. So again, you have to be very, very careful. So what I'm saying is this, you need to find out who this person is. Is this person a licensed real estate agent with an actual California department of real estate license number working under an actual broker? Or are they a broker themselves? Do they have their own company? Who are they? Are they the uncle of a friend of somebody that happens to know the person at the house? Are they just some scammer that was browsing? The multiples found this particular rental popped on this morning and said, you know what? I'm going to go make myself some business cards.

Connor MacIvor exp Santa Clarita home experts (02:58):

I'm going to go to Kinko's or wherever, whatever print shop gets. Some cheap business cards may have been on property manager, fake address, fake phone number. And then I'm going to go ahead and go get a fake recessed receipt book. So it looks official maybe with a briefcase, nice outfit and so on. And then I'll place an ad on one of the real estate websites or a Craigslist type Backpage type websites. I'm going to put out there, Hey, listen, I'm going to be interviewing people for occupancy of this particular rental. It's a great deal. And they put a number on it. That's incredibly an incredibly awesome deal. And then you go out there and you respond to the property. There's a force, bazillion people, and they're taking cash deposits. Of course they have extra envelopes and they're writing receipts out and they're making sure, and they're getting social security, numbers, dates of birth.

Connor MacIvor exp Santa Clarita home experts (03:43):

I mean, you're giving up all of your personal information, the stuff that is very easy for an identity theft artist to take and to use against you. I mean, from now until the end of time, it's hard to crawl out from under that Rob, once you get put there. So be careful. So the question is then who you're dealing with. So if you're seeing advertisements in the newspaper, there's not any enforcement mechanism. So that question is who is this person? Is it the actual owner of the property? And if you don't know, then you can do a quick title search through your local real estate agent and find out who the person is. But you're going to have to ask them some, maybe uncomfortable questions. You know what? I need to see a copy of your driver's license. So I know that I'm not about to get taken and they're going to say, well, there are 50 other people that want this property, so I don't need to provide that to you.

Connor MacIvor exp Santa Clarita home experts (04:28):

Okay? So that's a good indication. This is a scam. So don't worry about it. Just walk away. You saved yourself from that bullet, just walk away and start somewhere else. It could be that you ask them to give you verified information and they give you a business card. They say, oh yeah, here I am researching it. And you go online. You go to the department of real estate website for the state of California. You punch in the number, you do a licenser. Sure enough, name matches. The brokers match everything. Well, they just went and got those business cards printed up. So what they should have is they should have a department of real estate card shows for the state of California. This should match. So you can ask them for that. You know, I appreciate you have your business card, but I'd like to see your California state ID for your department of real estate. They should show it to you. In fact, they kind of have to show it to you, that's to verify who they are. And if they don't then walk

Speaker 2 (05:16):
Away, you know, and the phone,

Connor MacIvor exp Santa Clarita home experts (05:18):
We have this technology with pictures and cameras and stuff, you know, if you're dealing with

somebody that seems a little,

Speaker 2 (05:26): A little

Connor MacIvor exp Santa Clarita home experts (05:28):

Questionable snap, a picture, if they're driving a particular car to this property where they're accepting these cash deposits, take a picture of it. If they're not allowing under the property to walk through well,

that's, that's a problem. You should be able to go and look at the property as well. Especially if they're sitting in the car out front, and I'm only referencing this from a couple of years ago where we had some clients go, uh, Woodland Hills and they, the, the person wouldn't let them into the house. They say, well, it's the tenant occupied, but I wanted to meet everybody here so I can get everybody straight and explain the process and how we're going to deal with these cash deposits and so on and so forth. And the cash deposits weren't aligned. It was basically the money to run a credit report. And I really, even at a posit, but to run the credit report and do some other paperworks, I think it was a hundred bucks each.

Connor MacIvor exp Santa Clarita home experts (06:09):

So it's not so much money that you don't want to give it. But when there's, you know, 50, 60 people there, you know, this guy is making, you know, 5, 6, 7, $10,000 just in an afternoon, scamming people and never find them again. So why don't you find out who this person is? If they are a licensed real estate agent, you can probably feel pretty secure because they have an actual written contract with these people. If the property is being posted in the multiple listing service, which is going to be, you're going to find that on sites, syndication sites like Redfin, Zillow, they should have rentals. And Lisa's realtor.com as well. If it's in there, then more than likely it's, it's validated because it's, you can't really get in there unless it's going through the board of realtors and through the multiple listing service and the board of realtors has an enforcement arm.

Connor MacIvor exp Santa Clarita home experts (06:54):

So if Connor MacGyver tries to put in some kind of a fake listing to get extra money leads or to fraud the public Connor MacGyver, isn't going to be a licensed agent, very long Connor. MacGyver's probably going to go to jail. So that being the case, I kind of know that source. Also, once you track down the individual that has the listing, the one that says, they're the point of contact, you will find out who they are. And like I mentioned earlier, they are a licensed agent or they are just something relative is the actual owner of the property. And you can do that. As I said earlier, as well, by a title search to find out if they really are. And if they say that, you know, my name is Omar Sharif, and I have this property listed for sale. And you ask them, Omar, you're the owner probably.

Connor MacIvor exp Santa Clarita home experts (07:32):

Oh, yes, I'm the owner property owner for years. That's why I'm doing the landlord thing. And I'm going to rent it out. You're on the title. And you find out that it's John Smith in the title. So how do we get John Smith out of Omar Sharif? I don't know, but it's probably a good indication for you to walk away where you'll find them as the multiple listing service. There are some companies out there, property management type companies, all they do is property management. They don't do any resale. I think those are kind of the safest companies to go through because there's no other interest in it for them except to provide their landlords, the people that trust them to lease out these properties, to find them, tenants. When you have a company that also does real estate resale also represents buyers and sellers, then you have, which could be a conflict of interest. So if somebody comes up to me and says, Hey, Connor, I want to rent a place what's to prevent Connor from saying, well, have you ever thought about buying? We should check that box and see what's going on. Well, I just pulled

Speaker 2 (08:32): A tenant,

Connor MacIvor exp Santa Clarita home experts (08:34):

 

A possible tenant away from my landlord and brought it back to me to go sell them something. The same thing on the other side, if I'm playing property manager and I have people coming to me, wanting me to rent out their homes, maybe I around file a lot of the applications we get from people that want to rent it and go back to them and say, this just isn't the market, your house. Isn't going to rent. Why don't you let me sell it for you? We'll get you out from under the burden because I know that you haven't been able to, you've been basically paying out of savings to make your mortgage payment. So that's that game. So watch out for that as well. So there's a lot I'll have to look out for, again, I like the property management companies, and call me, I don't know for you to a lot of different entities here in the Santa Clarita valley, that that's all they do is property management.

Connor MacIvor exp Santa Clarita home experts (09:20):

The things that you're going to see on Zillow and realtor.com for the most part are going to be done by agents that don't just do property management, but also do residential real estate resale. And they also represent buyers. So, you know, feel, feel that out. Also newspaper ads, online ads, the online systems for advertising, recycler magazine, all that stuff. Just, just be careful to understand there is not an enforcement mechanism. There, there is no validation. It just basically has the thread. If you do this, you don't, won't be able to publicize anything in this newspaper. Again, that doesn't hurt anybody. It's not as painful as you're going to go to prison for 50 years. I'm Connor MacGyver. If you're looking to buy or sell real estate, that's what we do. You're looking to rent or lease. We don't do that primarily. However, I can at least grease the skids for you a little bit and maybe make the proper introductions for you. But at the end of the day, I will not be that representative that helps you. I can guide you, give you a lot of advice when you're ready to buy or sell when Lorde or tenant. Don't forget me. Love to help. And I'm here. If you have any more questions, pick up the phone. Call me (661) 400-1720 I'm Connor McCarver. Thanks for watching. We'll be safe. You'll be safe. I'll be safe to over and out. 

Posted in rentals and leases
July 29, 2021

Los Angeles County interest rates and Santa Clarita loans and lending market update

Update 07/29/2021:

Interest rates have been good all week, but they are still not as good as they were a couple of weeks ago.  These rates are fantastic and let’s hope they stay that way.

  • 30-year Government Loans (FHA / VA) are in the mid 2's 
  • Conventional Loans up to $548,250.00 – Mid to high 2's
  • High Balance Loans $548,250.00-822,375.00 are in the high 2’s low 3’s 
  • Jumbo loans above $822,375.00 are in the low to mid 3's. We can do mid 3's with as little as 10% down. We can do 1-year findings on these too!
  • 5/1, 7/1, 10/1 Arms are in the low to mid 2's! 
  • Bank statement loans – They are available with 10% down again! High 3's to low 5's depending on down and credit score. 
  • Stated income loans - I have one bank with 30% down, but everything else has to be perfect! Interest rates are in the mid 4's.
  • 0 down loans are in the low 3's - 660 credit score min right now! Mid 3's for the most part up to $565,000.00 Price. 
  • 0 down Jumbo to 1.2 Mil - 700 credit score - call for a quote
  • Private Money lenders – hard Money Loans - 35% down! 
  • First-time Buyers Tax Credits! 20% Tax credit on the interest they pay!  
  • Bridge Loans – are typically 5.99% with limited fees - But they get you where you need to go! 

Interest rates are subject to change without notice! Above are LA County Loan Limits. 

Brought to you by Mike Meena - Augusta Financial.

Cross Greater than the highs and the lows

 Before you call, please let me know so I can let him know you are working with MacIvor and associates here at eXp Realty.

Transcript from today's real estate radio show has just been compiled and posted below:

Download the PDF transcript from the Santa Clarita home experts radio show

Connor Macivor exp realty Santa Clarita experts (00:00):

Good to everybody. It is Connor, Iver. We are a July 29th, 2021. And this is your Santa Creta real estate update. I'm of course Connor MacGyver, exp Realty, Santa Clarita, home experts.com. If you want to get all the information and news regarding real estate, you have those questions that are persisting. They're kind of nodding at you, and you want to know what's going on in real estate. SCV nine one one.com S C V nine one one.com. It'll be where I post these video videos like it underneath. So you can kind of get a good grasp of what's going on in the real estate market. As far as inventory, we had a seller's market. We had a buyers market what's going on out there. What are the things you should be looking for either? Maybe you're a super savvy investor, well, the local market here. It's going to be different than the platinum triangle market.

Connor Macivor exp realty Santa Clarita experts (00:44):

It's going to be different than Glendale. The market's going to be different than the Pasadena market. So knowing what's going on, boots on the ground here regarding new housing and also all the new construction that's going to be happening. That's going to create interesting issues for the five freeways potentially, but, uh, we have 20,000 plus 18, so maybe 38 approaching 40,000 new houses slotted to be built. You take in the Hasley canyon project. You also take into account the five-point project off the five freeway and magic mountain. That's a lot of residential real estate. And I know people from maybe Santa Paula out west, there'll be using the 1 26, but a majority of us are going to be using that five freeway. We're going to be coming from Los Angeles, maybe a little bit further south in LA, maybe east LA, maybe if further out east, maybe those areas in Covina and Azusa, wherever, but we're gonna be coming back into Santa Clarita.

Connor Macivor exp realty Santa Clarita experts (01:41):

And that main artery, even if you take the two, tends to cut across, you're coming back into the five freeway and with a lot more people commuting. And this is years from now, but that's something to consider. We might need a double, a Double Decker. We might need more freeway. And I know they just expanded the five, but I don't know if those five or four or six lanes are going to be enough, depending on where you are on it. Time will tell. But this is where you get those updates to help you make those right decisions when it comes to real estate and Santa Clara valley. So right now, July 29th, this would close out this month. Definitely, we're in a seller's market. The sellers are controlling the game. No doubt. We do have a lot of buyers. And the interesting thing is the buyers are also kind of moving the ball forward themselves without necessarily asking for more money from their lenders.

Connor Macivor exp realty Santa Clarita experts (02:29):

They're basically putting their stake in the ground saying, listen, for this property, I'm willing to pay $800,000. Even if it doesn't appraise for more than 700, I'll come in with a difference in cash. So that's above the down payment. That's above that, a positive that's above the closing costs, what that costs that's over, and above all of those things. They're going to inject a hundred thousand dollars into the transaction to be able to secure it for themselves. This is a dynamic that hasn't been seen in this market yet. And this started several months ago when we started to see that lacking inventory. But then we saw the buyer drive increase and there were many offers on each individual property that was placed on the market for sale and by many, in some cases, 2030, even 40 offers for one single piece of residential real estate here in Santa Clarita valley.

Connor Macivor exp realty Santa Clarita experts (03:20):

Wasn't the perfect storm home. No, a lot of the houses that were put on the market, you can't really call it a sweet spot between $500,000 and eight 50 or nine, four-bedroom, plus a three-bedroom with a loft. Plus you have, these residents have put on the market, different areas, canyon country, sagas Stevenson, ranch, Valencia, new Hong Castaic, all of the different areas, same scenario, multiple, multiple offers. And then at that particular point, those agents take the offers to their sellers, just like we do. And then we sit down with the seller and say, listen, these are the best three, the best five, the best 10. And if the seller really wants the best 40 we'll counter each one back individually, find out what they're willing to come to step forward with. And the reason why just to let you know the reason why everybody needs should be counted back individually.

Connor Macivor exp realty Santa Clarita experts (04:10):

At least my, my concept here is the fact that they're going to be writing different things in their offer. Some people might want a set of bookcases that are in the downstairs office, that aren't attached, that the seller is going to take with them that were actually excluded from the sale. Well, if you don't counter that as an agent, and this is one of the offers you want to counter for your seller, you don't counter that as an agent. Then we have an issue with that item and that item. Then if you don't counter it, cause the buyer's asked for it. If the seller, if you don't counter that item, those bookcases are going to become an issue because you're going to take them. The buyers are going to do their final walkthrough, 2, 3, 4, 5, 6, 7, 8, 9, 10 days before escrow actually closes. And if they do it close enough to escrow closing, they're going to see the bookcases are gone.

Connor Macivor exp realty Santa Clarita experts (05:00):

There's going to be a problem. If they do it closer or further away from escrow closing, I should say, they might still see them there. So they close escrow. They get the keys. They move in. They're very excited. Bookcases are gone. Phone calls are starting to be made. Then it comes down to it. The agent then talks to the seller said, sorry, Stan met my bus, made a big mistake here. I should have countered, oh, shoulda too late. So legally binding that the seller now has to give up those bookcases and the remedy. Well, maybe the agent's going to step forward and offer may be the seller, maybe the seller's going to bring back the bookcases. You know, there's a lot there that could potentially happen, but that's what happens in the contract. If you're not careful. So it's good to hire an agent. That's very careful and also monitors everything, every jot, and title within the, uh, within the contract to make sure seller's really being, given what the buyer says.

Connor Macivor exp realty Santa Clarita experts (05:58):

There's a lot of lines in there to put stuff in the contract that could change the dynamic for the seller, knowing all those things upfront and be able to explain this is very important, very important. All right. So that gives us that tidbit of the market update with regard to it still being very much a seller's market. We're still having multiple offers on properties out there that are for sale. However, those offering amounts, as far as the numbers of offers, I don't know if buyers are getting tired or if the perfect storm houses aren't really hitting the market as they once were. But as I told you, there really was no rhyme or reason. It was pretty much any residential real estate that was detached. And even the attached condos and townhomes as well. But it was any, any property basically that went on the market that was in pretty good condition.

Connor Macivor exp realty Santa Clarita experts (06:46):

People were giving those multiple offers for it because of the lacking inventory. So as of right now, today, 9 30, 3 hours, July 29th, Thursday 289 active listings on the market and the city of Santa Clarita, all of them. So Casta at canyon country, new hall, saga Stevenson, Rancho, Valencia, and of those 23 are coming soon. So you more than likely won't see coming soon listings. It just depends on where you're searching, but I have access points. So all I need is your email address your name, and I'll be able to send you everything coming soon. So you can see those before they come onto the market. Live coming. Soon. Strategy can go as long as 21 days just to let you know, however, most of them are within a week cause they usually start the coming soon stuff sometime during the week with the first showings, when it goes actually active, active on either Friday or Saturday showing through the weekend, usually the property is tied up, put on hold after the weekend.

Connor Macivor exp realty Santa Clarita experts (07:44):

Sellers don't want to show anymore because they had to stay gone for the weekend because showings were happening every 15 minutes in this market. And if you'd been out there looking, you know, that to be the case, lots of showing standing room only, and very frustrated people out there reminds me of what some of the new homes were being built back in the two thousand and late nineties. They're actually fighting in front of the new housing centers with people trying to sign up again on their interest list. And it was a mess. So I don't think I've seen any fisticuffs or fistfights out there at properties lately, but it gets a little heated, especially when the agent that may be putting on an open house, didn't arrive until an hour later. So a saw that happened up in Valencia last week and there were some pretty upset people.

Connor Macivor exp realty Santa Clarita experts (08:29):

Plus it was hot. It was humid, whatever the excuse is, it works. All right. So that's where we are with the inventory. Some of the things that are going to be coming up could affect this. And I don't believe in In this market, we're going to see a foreclosure issue just because there's so much cash being injected. Now, back in the last fall of the cycle, back in 2006, 2007, I believe it was March, March of oh seven when new century bank, large sum subprime lender, uh, claim bankruptcy. So that was kind of the first step in this house of cards that started to collapse. And once it did, you know, then we had out of that, we had the short sale market, the foreclosure market, that oppress market. We had a lot of banks and lenders and even insurance companies holding back saying, we're not going to get policies.

Connor Macivor exp realty Santa Clarita experts (09:14):

We're not going to loan on these properties. This is within right when they collapsed, the basic real estate market gets put on hold. The same thing that happens in the event of a natural disaster on knock on something that's not wood I got would their natural disaster. The same thing happens where everything goes on hold. So the insurance companies can reevaluate the real estate market can reevaluate the lenders, the brokers, all of these different entities that require things to happen. I E properties to have insurance on them before the closing insurance companies hold back. Well then the whole process stops because all the properties need insurance on them, right? So that's how that works. Same thing with the fiasco of the financial world. You have a massive subprime bank that collapses because they've been doing a hundred percent financing and who knows what else? Once that occurs, then you have that trickle-down effect and everything stops.

Connor Macivor exp realty Santa Clarita experts (10:11):

Eventually, the market picks up again. We see the foreclosures come out. Short sales become a real big deal. We have a lot of people squatting. We have a lot of people moving into residences that aren't theirs trying to get that cash for the key. We saw a lot of that in the last cycle, and that will happen again. Eventually, this isn't the market, this market wasn't built around a hundred percent financing. This market was built around equity people to purchase real estate needed a minimum of well, nothing for a veteran, but how many of those really are there not a lot. Then the next step up is three and a half percent down then after that is different variables of conventional offers variations, you know, 5%, 10% down, 15, 20% down. Those are the differences within the lending world. So there's money there. Well, now I'll bring fast forward to somewhere around April, May of 2020, when COVID was at its prime.

Connor Macivor exp realty Santa Clarita experts (11:06):

When we were still locking down and doing all those sorts of things, it seemed that real estate was also put on hold a little bit for three or four or five months. But then once they released that said, okay, you can start showing houses again. It doesn't have to all be virtual. You can start showing clients as long as there's no more than two plus the age of the residents, they don't touch anything. They keep everything clean. They use hand sanitizer before and after. So on and so forth. Once all those new rules were established, then we started to see the market pickup because buyers will, they still wanted to buy. They just couldn't because of the disaster that was upon us called COVID now fast forward to today, moving forward because of those reasons, we still have a large supply of buyers. And every house that goes on the market is really premium for a lot of people out there, multiple offers on these residences.

Connor Macivor exp realty Santa Clarita experts (11:57):

People are writing offers above list price. Even when the agents are pricing these properties strategically, even over lists, we're beyond, they know that it's not going to praise for. They still do. And buyers are still viewing and buyers are still writing, even higher offers. Then it comes back to a buyer being countered. And if you're in this market, you'll know, and this isn't that market whereas a real estate buyer saying, you know what? I don't want to play games. I just want to write an offer and get the property. That's not going to happen. Even if you write a ridiculously high offer, getting rid of everything, the chances of them not wanting to hold back and counter, everybody is very low, who knows who's going to come out of the woodwork and say, ah, it's like the price is right. All pay a dollar more than that guy.

Connor Macivor exp realty Santa Clarita experts (12:44):

And maybe their financing is better. Maybe their terms are better. Maybe they decided to remove all of their contingencies, which I still have a difficult time with within any market that a buyer would give up every single right. They have in order to buy a residence because you just don't know what's going to happen. Story for another video. So on with this market, when you're ready, reach out, you want to see a search. You want to see those coming soon listings, that's easy. Reach out to Connor. That's me. And I'll be able to get those set up for you. If you know anybody that's interested in real estate who wants to have that sit down. Talk. I do that as well. I explain the market. I talk about investing. I talk about that first house. How if you can make it, your cornerstone makes it that, uh, that linchpin, that one house that holds everything together and tries not to sell it.

Connor Macivor exp realty Santa Clarita experts (13:32):

If you can't hold on to that property and then use that property as leverage to buy other properties in the future, building, uh, an extra retirement portfolio for your will, or maybe your, your only retirement

 

portfolio. There are ways to flip residences, even in this market, not as easy to find, they're not a dime a dozen, but again, there are those properties out there that really fit that bill very well and are being missed. Another topic that I discuss, and then finally, you people that need to borrow money to purchase residents or real estate, which all of us, most of us do. I see the cash. People come in every once in a while they sell, they sold something or they're just from wealth or they made a lot of money doing a startup and selling it, whatever it may be beside those folks that are paying cash.

Connor Macivor exp realty Santa Clarita experts (14:20):

If you need financing, there are also good questions to ask lenders, to make sure that you're best prepared and best protected because you pay them. You pay them a fee. When you're purchasing residential real estate. For me using me as your buyer's agent, you don't pay me anything. My fee gets taken care of by the seller. Well, you sellers, you now have to play both sides. You pay the buyer's agent, the one bringing you the buyer, and you also pay your agent. The one that you hire to sell your residence. We have discounts. We have a flat fee. We have everything you can imagine. So give me a call on that as well. With full service. Of course, I can't say doing anything half-assed, uh, for anybody, no matter what I'm making, I can't give somebody a different amount of service because we negotiated less than the commission because I'm trying to save them money or whatever it may be.

Connor Macivor exp realty Santa Clarita experts (15:14):

Am I worth it? Absolutely. A hundred percent, all day long, 6%. But at the end of the day, I have to be a human being about it. We have to sit down, discuss it, and it is negotiable. That's it? Final word. Everything in real estate is negotiable. No, that you stick to your guns. I think you're going to find out that most agents will agree, especially in this market, in a market that it takes six to eight to 10 to 12 months to sell residential real estate. Maybe not. But again, when that kind of market, you have a massive thinning of the real estate flock and only the best agents survive. That kind of transition. I'm Connor MacGuyver Exp Realty. This is your update. As we're closing out July, July 29th, I will speak to you in August. Again, SCV nine one, one.com is the location to go to get these updates.

Connor Macivor exp realty Santa Clarita experts (16:01):

You want to see the rest of the real estate. You can go there, just click on the exp our, you explode up at the top of the page. Then that'll reload with the main site. You'll be able to search all the different areas in Santa Clarita valley, and also connect with me as well. If you have a question about a future show, all you have to do is just email me. Connor macgyver@gmail.com, C O N N O R M a C I V O r@gmail.com. Be safe, everybody. Thank you so much for watching. We have a lot of these on our blog. You go to Santa Clara, home experts.com, click on the blog at the top. Lots of real estate articles, lots of videos, lots of podcasts, lots of radio shows talking about the market. I'm passionate about it. And I want you to be to whenever you're ready to purchase real estate because going in half-cocked is only going to hurt. Talk to you soon, Connor MacGyver over and out. 

July 27, 2021

The number 1 thing Buyers of Santa Clarita real estate forget to do

Santa Clarita home buyer informationNot a loaded question, this is the door-knocking part of a Santa Clarita home buyers process.  I speak about this from where I hail, which was being an LAPD officer for many years.

There comes a point for a home buyer after their officer was accepted by the home seller, where they are starting all their time frames. 

A real estate contract for Santa Clarita real estate is basically that, a calendar.

The buyer has so many days to do this, and so many days to do that. There is a point where the home buyer is required to now state they are so serious, they are going to remove any and all contingencies.  Meaning, if that buyer cancels after signing off on "all the contingencies", they will most like lose their earnest money deposit that was given first after their offer was accepted.

The EMD - Earnest Money Deposit, can be tens of thousands of dollars. Most of the time it's under 20k - but that's still a massive amount of money to have been given in cash.

Watching out for your own interests is important. Unfortunately, sometimes a buyer's agent won't or has missed the caring boat in grammar school.

What to do before spending any money

When you have a home inspection at the home you are buying as a Santa Clarita home buyer, you pay for that service at the time of completion, cc or cash or check. 

When you have a pest control inspection, checking for termites and other pests, you pay for that at the time of completion. 

Before you start spending that money, you need to visit with the neighbors that impact your home.

The neighbors that share property lines should be visited first.

That includes the neighbors that are behind your home, at the furthest extent of your lot. If you happen to be on a culdesac or on an elevated lot where those homes behind you are on different streets - you may have to break out a map.

Once you track them down, go for a knocking. Introduce yourself as the buyer of "the home for sale", unless there are a ton of listings, this is usually enough to instill comfort because if you are dealing with an owner, they will know what home you are referring to.

If you live in a condo, or townhome that shares walls, ceilings, or floors - get ready to do some knocking here as well.

Your task is to find the neighbor who is typically referred to as the "busy body", the chatty Kathy, the one in which the key master has entrusted to hold the key to the gate. 

Once you find them, they will tell you more than you want to know. Also, this gives you an opportunity to see who is living around you. It is very helpful.

I have had five escrows that have canceled after this step - that is in the last 23 years of real estate service as of the date of this posting on Santa Clarita home experts.

in retrospect, I trust this step for buyers. Those five people that canceled had very good reason. They ended up buying something else in the weeks following the cancelations.

Santa Clarita home buyer resources

You will find homes for sale in the Santa Clarita valley on many different websites. You will also see ads on Facebook and Instagram, Twitter, and TikTok - My suggestion is to be careful where you are searching.

Santa Clarita home experts dot com - my system. There are several other things that a home buyer needs to know. When you are ready contact me directly on my phone and I'll get you scheduled for a discussion.

I'm Connor with eXp real estate. When you are ready we will make it happen for you. 

Go do our Santa Clarita real estate update page to see our latest video.

July 27, 2021

Best fee for selling my Santa Clarita home

Santa Clarita home sales feesCost versus Value? There is always someone cheaper. My own personal philosophy, I will sell your home for a fair price. And Believe it or not, that "fair price" is typically 10k lower on an $800,000 listing than the other agents are willing to go.

If you want the best fee to sell your Santa Clarita home call me for a consultation. 661.400.1720 - Connor MacIvor.

When it comes to listing and selling homes, in the current seller's market, there is not a massive disconnect between buyers and sellers.

In fact, I would say the reverse exists - where buyers know what sellers want, but where it's not possible for some to reach those heights in most cases.

Sellers are looking for the most money for their homes. They also want those funds to be backed up with the best financing. 

In the Santa Clarita Valley, there are a handful of trusted real estate lenders that have the majority of the real estate business.

Of those, one shines brightest. If a real estate buyer approaches a listing that I have, my seller will already have heard of this lender and the type of loans they generate. 

I have yet to have a loan fail with this company. When they have a pre-approval or an underwriter pre-approval letter, generated for the buyer, those letters are valid and always backed up by their lending office.

Discount rates on selling Santa Clarita homes

Commissions for selling Santa Clarita homes and real estate are typically five to six percent total. The issue with that is sometimes percentages are hard to figure, depending on the person doing the figuring. To some it's as easy as ABC, to others you may as well be speaking Greek.

My suggestion, and the rate sheet I provide to my home sellers, is simple and straightforward.

If the sale is going to be complicated, such as a probate sale or a legitimate foreclosure, I assure you I'll be charging you the market rate. Those types of sales are complicated and complex. Not every agent in California can negotiate a short sale or deal with the court when it comes to a probate sale. Just like how some agents are unequipped to handle the negotiation needed to deal with 20 or more offers that are all very similar in nature.

It takes talent to draw out the true highest and best offer. And, because sometimes we are dealing with less than average real estate agents, at those times as a Top SCV listing agent, you have to draw out the questions from the agent.

Give them the tools to convince their home buyer to go higher and potentially switch financing to one that offers the home seller more security.

This works, but only when you are dealing with an agent who carries the history and education in the real estate trenches.

Santa Clarita flat fee commission for real estate costs

Now it's come down to points and percentages charged to sell Santa Clarita homes.

The seller is tasked with paying the commission for the buyer's agent and the agent they hired to represent. If you don't believe me, I'll prove it. Remember, All real estate is potentially sold "as is", but some sellers think that the buyer cannot ask for anything they deem non-hazardous. Sure they can - they can ask, it's up to the seller to deny them if they so choose.

At the beginning of the listing appointment - I get my commission out of the way first - whether I'm there to negotiate a flat fee commission, a single sale side, or a cooperative listing agreement, I ensure that the seller's know of the great break on my fees they are getting and that I am a full-service real estate agent.

You are not going to be pawned off to some sort of assistant. You call and you'll be dealing with me. I'm Connor MacIvor with eXp Realty of California.

When you are ready I'll be here and I will take great care of you. I tap out when I approach 10 listings a month, it's doable, but I'm careful not to overload so my home sellers stay happy with my Santa Clarita home listing services.

Posted in Buying a Home
July 20, 2021

Santa Clarita real estate - waiving appraisal and other real estate agent truisms

I'm Connor MacIvor, I am with eXp realty and have been selling real estate, representing buyers and sellers in the Santa Clarita Valley and within other So. Cal. Communities since 1998. The deal is this - I am your go-to when it comes to housing and homes.

When you are ready reach out to me and I'll make it happen for you. I give full discussions on the housing market and also develop strategies for my housing clients.

Buyers and Sellers are always included in the decision-making processes pertaining to their real estate interests.

When you are ready - hit me up and I'll take great care of you!

PDF from the transcription of the Santa Clarita real estate radio show

Santa Clarita real estate agents

Santa Clarita real estate's Connor MacIvor realtor (00:00):

Good to everybody. I am Conner mic. I ever exp Realty longest-running real estate podcast and broadcast here in the Santa Cruz valley. And this started back a long time ago, originally licensed 23 years ago. And that was back in 1998 in our am today, selling real estate, still representing both buyers and sellers. One of the best places to go online, to be able to check out not only the real estate news, but also what's going on in the real estate industry. And to find out those listings, the things that are coming onto the market, that coming soon listings and all of those [inaudible] dot com S CV nine eleven.com. In fact, that's the entry portal to each and every update show that I put together. So every week I do a show like this. It depends on the day of the week when it comes out.

Santa Clarita real estate's Connor MacIvor realtor (00:45):

But for the most part, when there is new something to talk about real estate that I believe is very pertinent to helping both buyers and sellers make the best decisions. That's when we come together. And when we talk, so here we are July 20th and that's 2021. Uh, we're sitting here at Tuesday, had to cheat and look, we're going to have a couple of things to talk about with regard to real estate. One of them happens to be what's going on in the market. And if you've heard anything about the local market, you're going to hear that real estate is hot. It's booming, everything's moving very quickly and that's actually true. However, we're starting to see a little bit of a slowdown just because we don't have the volume of sellers that would make the market move even faster. And of course, there's always critical mass.

Santa Clarita real estate's Connor MacIvor realtor (01:29):

There's always that particular number of sellers that starts to be flat the market and cause the market to then shift from being a sellers market where it is over into a buyer's market. But currently we don't have that situation because we are, uh, very low in inventory, just over a couple of hundred units active for sale in the Santa creative valley to be a move of that metal needle from being fully on a sellers market, where we are now over to a buyer's market prime to get five times that maybe over a thousand active listings. And is that going to happen? Probably not for the next few months, but there are a couple items coming up that I'll talk about. That could cause the market to go into somewhat of a flux. I don't believe that the foreclosure market's looming and coming as a lot of people talking about, because right now here's one of them.

Santa Clarita real estate's Connor MacIvor realtor (02:19):

So right now, when people are buying houses, a lot of them are doing what's called waiving their appraisal contingency. Some of them are doing this with bad advice from the real estate agent. So watch out for this real estate agents are not attorneys. If you're going to start to modify and change things, a lot of times it's best to get that legal counsel, at least to answer the question, to find out what ramifications there could possibly be, but that's a whole nother story. But when your agent is explaining this to you, you have to understand all of the potential consequences for you as a real estate buyer. If you're going to start changing things in contract or limiting your basic rights when it comes to buying real estate. So whether I'm representing a seller or a buyer, I need to explain these things to them.

Santa Clarita real estate's Connor MacIvor realtor (03:03):

So they understand what's going on in the real estate world and to best use those to their advantage. However, when it comes to buying houses, you've heard real estate is moving quickly. So what's happening is the buyers are then giving up some of their contractual contingencies, things that are in

contract that state, you know, buyer, shell, uh, have the home appraised. And if the home doesn't appraise for a particular amount or at least what the buyer offer on the property, if it appraises for less than the negotiation reopens up in this case, when they waive that appraisal contingency for the most part. And there's again, a lot of little nuances here, but for the most part, that means that buyer now is willing to pay up to the point that they offered on the property. No matter what the appraisal comes in at. So let's say, and if you don't know, if you are buying real estate, it's your lender.

Santa Clarita real estate's Connor MacIvor realtor (03:57):

That is the one that's going to be hiring the appraisal and the appraiser to go to that property. Typically it's the seller's agent or seller that allows the appraiser access. There is not much communication. I'll tell you that right now with the fiasco that happened back in 2006, 2007, that collapsed appraisers. Well, they like us, but they don't talk to us too much and vice versa if they need additional information. Great. But for the most part, what I like to do is try to keep it arm's length. And what I'll do is I'll have my sellers allow them access into the property so they can do their appraisal and get all their numbers. If they call me later and say, Hey, Connor, how did you come up with this particular price? When you put the property on the market, I'll send them what I have so they can look at it.

Santa Clarita real estate's Connor MacIvor realtor (04:45):

But again, that appraiser, if I'm representing the seller, that appraiser isn't really working for anybody, but the buyer's lender to make sure the property's worth such and such a value depending on where the offer is and so on. So if a property is priced at, let's say $700,000, and in this hot market, you're understanding as a buyer that you have other people you're competing with. And there are multiple offers because you're getting a counter offer that states there are multiple offers on this property. We want you to offer a, give us the highest amount you're willing to pay. So let's say 700,000 looks about where the value is on that residence. And that's easily seen. You can do it yourself. You can go look at the syndication sites, Zillow, Redfin, realtor.com. Uh, even my system center create a home experts. Dot com has information there SCV nine eleven.com does as well too.

Santa Clarita real estate's Connor MacIvor realtor (05:42):

And you'll be able to punch in a property address and get a value. Most of the time, the value's not bad. You know, it's going to be somewhat close, but again, it depends. I've seen values, fluctuate a lot on some of those systems, but it just depends on the property. For example, if the property is completely custom, then that valuation system is going to be doing very well. If there's nothing to compare the property to again, that valuation system isn't going to do justice. And the reason being is this, the system is looking at sold and parables, let's say all the sold comparables didn't have a pool. Didn't have a view, didn't have upgraded kitchen, but everything was the same, same builder. And all, it's going to be difficult for that system to come up with those other values. Now, of course, most people know a pool costs, X amount of dollars to put in a new kitchen with these type of mahogany or hundred and a Hoggy cabinets and so on and so forth, you know, that costs this much and so on.

Santa Clarita real estate's Connor MacIvor realtor (06:39):

So you can calculate it, but that's not enough. It's going to come down to what is the buyer? What are buyers willing to pay? Is it dollar for dollar? Probably not, but it depends on the market. Beverly Hills, maybe dollar for dollar Bel air, maybe more than dollar for dollar. Once you get away from those super super hot markets and Santa Clarita is pretty hot, but it doesn't have that kind of price overage. You'll see that these valuations are a lot more difficult to do. And those systems are very much unreliable at

that point. Coming back though, when you're looking at it, at least you kind of have a good idea of what properties are worth. So that gives you some, at least a standard to start from. Now, the appraiser's looking a lot different. They're going to pull in those comms. So probably not going to use those valuation systems.

Santa Clarita real estate's Connor MacIvor realtor (07:25):

So they're going to do it, how I do it, where they're going to go into the multiple listing service. And they have a, uh, some type of a partnership with the multiple listing service or the board of realtors, they're able to access that data. And then they also call people. So I've been called many times by appraisers asking me what a particular property. I might have an escrow. That number looks like. And in essence, I can, I can help them out or I don't have to help them out. But I think it does help in some way shapes or forms. If I do kind of give them a little bit of an idea or tell them where we're in escrow, because maybe we're going to be closing soon. And by that time they have a deadline to meet on the other end. So by me not helping could be inhibiting the buyer on that other sellers, residents and so on.

Santa Clarita real estate's Connor MacIvor realtor (08:11):

So helping doesn't hurt a lot of agents. Don't I believe that again, helping doesn't hurt. So looking at the market, the grand scheme of it, looking at the appraisal contingency that's in place in contract. Once you remove that, then that's $700,000 figure for what the house is worth versus you offering the $780,000 because you're willing to pay that difference. You've just pretty much committed to it. Now there's other reasons to cancel escrow. If in fact, you do waive that appraisal contingency. You have other contingencies in place as well. The thing I suggest though, is you need to explore those with your agent and find out ethically and lawfully. If are things that you're comfortable with, because is it could be that seller. For example, you go in waive your appraisal contingency. The property, the same scenario runs. You have a $700,000 house that's listed for sale.

Santa Clarita real estate's Connor MacIvor realtor (09:08):

At 700, you offer seven 80, you win the bid, you get it. You're in escrow. The appraisal comes back that you wave on paper. You said, listen, I'll pay the difference. The appraisal comes in at $720,000. That's a $60,000 difference. You said you would pay. What if you change your mind? What if you change your mind for an entirely other reason, an entire other reason, maybe you found out that an X, Y for an ex husband or ex somebody lives around the corner, or maybe you found out that you chose incorrectly and a school system. You thought the house was in it wasn't, these are innocent mistakes. And the other two, maybe not so innocent, but maybe research would have helped with those, but they're not appraisal things, but what's the seller I to think, well, the seller's going to think that you canceled because the property didn't appraise and now you have to come out of pocket with $60,000.

Santa Clarita real estate's Connor MacIvor realtor (10:04):

If there are other contingencies in place and you didn't remove them, you could cancel for something else. If in fact it were true. Well, now we're all speaking about truth. We're not speaking about lying or deceiving or anything else we're talking about truth. It's true. You could, but even if it is true, the seller has the right to not give you back your deposit. Well, they have the right to stop the process of giving her deposit back because they have to agree. But when they don't agree, then their house stops. Doesn't continue to be marketed, cannot be, uh, cannot have another offer written. So basically they're stuck in limbo as well. Tell it all gets worked out legally. How does it get worked out legally? Well, it

starts with the brokers talking, the agents talking if it's the same brokerage, then that tries that scenario tries to get worked out.

Santa Clarita real estate's Connor MacIvor realtor (10:55):

Then if it can't get worked out, then that moves into arbitration mediation on the courts. Uh, maybe starting at the board of realtors, then moving into the courts. And then finally, if everybody's still at a stalemate and there aren't agreements reached, or if people want to continue it, it could go all the way to court. And you would have your day. These are problems that a lot of people aren't thinking about when they're going out there, they just think, well, this is easy. I just write in here. I want to wave my appraisal and I'm going to be okay with that. You have to think it all the way through. We've had some people in this hot market, not just wave their appraisal contingencies, but wave every contingency that they've had. So when they make that deposit, which is kind of the handshake to purchase real estate, that's kind of an entry point.

Santa Clarita real estate's Connor MacIvor realtor (11:43):

The deposit money that the earnest money deposit is yours. It belongs to you, but that's what starts escrow off showing that you're serious. And what that, what does that well, 10,000 or better typically, depending on price range, but that's an average. So 10,000 or better. So you have that money that you wire into escrow, but during all the negotiations, you decided it would be best. So you can get the house to waive all of your contingencies after they get their money. And you decide to cancel. Even if it's immediate, you might not get that back because you've given up all of your contingencies out of the shoot, not just appraisal, but inspection all of them. So that's something to really consider and that's major big league ball. And I think in some cases, some people are being given bad advice, but again, back to it, the market is that hot, where people are willing to do a lot, to be able to purchase the real estate.

Santa Clarita real estate's Connor MacIvor realtor (12:45):

So then looking at the market, everybody says, well, it's got to come to an end. And of course it will. Everything always ends at some point, but then they say, it's going to end in the foreclosure actions. And these notice of defaults all of these issues. In fact, I'm getting emails from different people that were for different large entities and banks talking about these training programs that I saw come through back in the mid two thousands, 2005, 2006, 2007, just people trying to make a buck stating that, Hey, Connor, you'd give us a $600. And then we're going to enter you into a particular baking system. That's going to show the banks that you're that local foreclosure expert. And then you'll be able to sell their foreclosures. When this market collapses here in a few months, the market's not going to collapse in that manner like it did back then, because back then, if you remember, weren't even maybe interested in real estate at that point.

Santa Clarita real estate's Connor MacIvor realtor (13:38):

But back then, it was because people were getting loans at a hundred percent. So there was no skin in the game. You know, Connor MacGyver didn't put in a hundred thousand dollars down payment. He didn't, I was able to get Connor MacGyver and people like me were able to pull and get a hundred percent financing like a veteran would get. So there was no fat or skin in the game. There was nothing. There, there was nothing to trim. So when the market collapsed and the sub or fell, now my house that I paid $500,000 for is now worth $300,000. And when I had one of my notes, so I had a 20% loan and an 80% loan that 80% loan is going to come to mature and I have to pay it off totally in three years or two

years or a year. And what I would normally have done was use the equity in the house that I've gained because the market would still continue to go up.

Santa Clarita real estate's Connor MacIvor realtor (14:35):

Right. But I didn't, I didn't, I didn't have the equity. What happens? Well, that second, it's going to call that loan. And if Connor and I ever can't pay it, I don't have the money in the bank nor do I want to give them that money in the bank. Let's say, then it's going to default. Now as far, whether they're going to come get the money later on and come after me and Sue me and take me to court, that's a whole nother issue, but at least you understand kind of the complexities of it. Now, as we come forward to today, that market isn't the same because we have that cash in the market because buyers are willing to pay the difference in cash. And we've had many of our listings sell for way above what that fair market value figure is. And it actually goes above and beyond what the appraisers are capable of because the lending institution states, I'm only going to loan you $680,000, but you offered $750,000 a difference of $70,000.

Santa Clarita real estate's Connor MacIvor realtor (15:34):

So that's coming out of your pocket. Some loan programs don't care. They're still happy. In fact, we may be even happier because now they even have more equity in the residence. Well, I guess maybe not because the appraiser came in a lot lower, but at the end of the day, they don't care. But if you're using other types of federally backed loan programs, they care. In fact, you can't remove your appraisal contingency with those programs, but I'll see it day in and day out on an offer. I get there'll be that particular type of financing that states at least on the financial side of it and the buyer, not, maybe not aware the agent may be not aware, but it'll state somewhere in the small print you cannot use or remove the appraisal contingency with this loan program. The property must have an appraisal contingency.

Santa Clarita real estate's Connor MacIvor realtor (16:22):

So these are good questions to ask your agents. You want to find out what the repercussions are with regard to you offering, uh, more than what you guys believe fair market value is. And then you want to talk to them about the ramifications. If you remove your appraisal contingency, and then you want to talk to them about maybe making your offer a little sweeter without having to, to really remove anything, maybe just shrink some of the timeframes. Maybe you can call your lender. And the lender is actually going to be ready to go in and close in three weeks. And what the seller really wanted was a fast close. And in some cases, those time dependent closes are more valuable than money. Believe it or not. And we see this day in and day out as well. So finding out when you're about to purchase real estate, finding out the sellers needs as far as do they need a fast escrow that could help you on the other side of it, maybe they need a long drawn out escrow.

Santa Clarita real estate's Connor MacIvor realtor (17:18):

In fact, so long where it wouldn't be allowed, therefore they say they want to rent the property back from the buyer for a couple of months. Maybe they need that. And maybe to them, because the area they're staying is area dependent, not money dependent money doesn't have an influence on it. Basically. Maybe they need to stay in this area in this neighborhood because of a particular school or whatever, but they still wanted to sell. That could be your glory day. You could walk in where nobody else was willing to give him those two months at whatever your payment was going to meet with principal insurance and taxes, whatever that number is, that's what that usual rent back looks like. But

 

then nobody else could do it. And they have to stay in the residence because it gets verified by the federal government or someone that's sometimes when money doesn't talk and money walks and people that are more green and can enable that are able to help them with maintaining records.

Santa Clarita real estate's Connor MacIvor realtor (18:19):

I didn't see it for a little while longer while they sell the top of the market. It actually pays off SCV nine one, one.com. Folks. This is just a little bit of a help video, but I am going to post because we did talk about numbers, real estate inventory, still low. We're seeing conventional buyers getting beat out all the time, but other different loan programs from people that are a little bit more willing to roll those dice when it comes to waiving contingencies. And of course, uh, doing things that other people aren't in agreement with I'm Connor MacGyver STV nine one, one.com exp Realty. Please tell a friend when you are ready to step forward and the purchase of real estate or the sales of, I would love to be a representative again, STV nine eleven.com. You can get all the information there with pertaining to the real estate market, searching for houses and such. When you're ready for me to find you something. Once I get your criteria, I'll dial you into our local boards. You can also enjoy the coming soon listings. And if I can get you into those early, yeah, it's my pleasure. Thank you all so much. I am Conner with honor MacGyver, and we'll talk to you soon. Thank you so much, Santa Clarita, and everybody else, please share this video with your friends. I would appreciate it. It does help. I will talk to you later. 

July 19, 2021

Santa Clarita seller's market persists and home buyers are giving up all their rights

The Santa Clarita, real estate market, is buzzing with business - Homes are flying off of the shelves, but at prices that I wasn't able to foresee. In fact, there are a lot of issues with this market, none of which have to do with the sellers getting less than they expected.

For the home buyers out in the current market in the Santa Clarita Valley, I'd throw caution to the wind and ensure that you are not being led down a path leading to trouble for yourselves. 

There are contingencies in place for a reason when you are buying real estate. A biggy - has to do with a contingency that allows you to have a home inspection. Without the home inspection, you may be buying something that has trouble beyond your means.

Or worse, you may be buying a home that contains toxic mold where you did not find out about it until it was too late.

 

 

Santa Clarita real estate video radio podcast news (00:00):

Good to everybody. Welcome to the show. SCV nine one one.com. I am Connor MacGyver, your host, the longest-running real estate podcast, and a video update for Santa creative valley cities. This is going to include everything from acting all the way through to Valencia. So act and Oakwood. I'll say we're going to also talk about Casta canyon country, new hall, Saugus Steven Sorento, Valencia to introduce myself. If we haven't met before, I am Conner with honor MacGyver, uh, the metal describes it's not like the given name, that'd be Tiernan, but Connor MacGyver. I do. I am at exp Realty, made a switch recently from re max after being there for about 23 years. So it's new and exciting and different, but I believe it's going to be better for everybody involved with regard to service to clients and so on. So that's something that we look for as real estate agents.

Santa Clarita real estate video radio podcast news (00:50):

A lot of real estate agents will change brokerages like underwear. Some will stick it out for a very long time at a company, probably too long in some cases, but we'll have to see, but I'm very excited about the change nothing's going to, uh, be moving any kind of different direction. However, you'll still have all the same access, all the same properties, and still have the same negotiating power as we had when we were there for the Remax brokerage. And he XP offers nothing different, except for, it seems like they're probably going to be moving in a direction. That's going to surpass the numbers at Remax here in the very near future. So we'll have to keep an eye on that, and I will keep you updated. As far as real estate goes here, we're breaking into the middle of July. So today happens to be July 14th, 2021.

Santa Clarita real estate video radio podcast news (01:37):

This is your SCV nine one one.com real estate update. Now, what I did is I pull the numbers and look at the daily inventory here in Santa Clarita valley. And this is a daily task for me because I want to make sure clients, buyers, sellers, owners, renters, everybody out there. If they have a question about real estate, they understand and go to SCV 9 1, 1 dot con and see the latest edition, latest video podcasts. And to see what's going on in the real estate market without any kind of a spin or a slant. And I'll tell you, there is a lot of that. In fact, there's a lot of people out there that will, uh, spend the real estate news. They will make their method in which that's going to be something that they save. It may, they may, that may influence your buying decision or selling decision.

Santa Clarita real estate video radio podcast news (02:22):

We try to keep it incredibly neutral here. Just show you what's going on. Can back up the numbers that we talk about, and then also give a little bit of an opinion in the future, as far as what may be happening based on current news and events. And everything's verifiable all across the board. Now at the end of the day, if you need service by a real estate agent, looking to hire that real estate agent to represent you buy a new house, used house resale house for closure, short sale, a distress sale, whatever it may be, you need to be very wary on who you hire. It doesn't make a big difference. If you're looking to hire to sell your house, maybe do a probate sale, maybe it's a divorce issue. You also need to find that person in that space that happens to carry the expertise, knowledge and has a track record to be able to serve you in the best way possible.

Santa Clarita real estate video radio podcast news (03:13):

Now, of course, I'm always open to the job. So please give me a call when you're ready. I am Connor MacGyver. You can find all of my contact information@stvnineeleven.com. Also Santa Clarita, home experts.com, but the shorter URL seems to be easier to remember. Plus I was a police officer for a long

time with the Los Angeles police department, and that doesn't hurt anything. STV nine eleven.com. Let's work into the let's talk about the local inventory here and all of a sudden, a greater valley city's total inventory units for sale are 229. The reason why that's important is that that number has been increasing ever so slightly. But as of this last week, we've seen that number start to deteriorate again. And we were in the two seventies to eighties. Now we're back in the two twenties, 26 of those properties are actually coming soon. So they're not on the market as being able to be seen.

Santa Clarita real estate video radio podcast news (04:07):

People do still try. People do still write offers on properties. They haven't even seen it before. That's kind of a red flag for most sellers out there, but it's going to depend on their agent the way that they explain how that process works. Most people that are writing offers on real estate sites, on-scene or putting in a clause in there that basically states that they reserve the right to look at the property. Of course, visually inspect the property before proceeding. Whenever that date happens to come across and a lot of these properties can be advertised up to 21 days prior to his coming soon prior to them becoming active. But the trend that we see lately is this. So if you're out there wanting to buy real estate or sell real estate, typically it works. You get your contract signed. If you are going to be the seller of real estate.

Santa Clarita real estate market and buyers offering overage in cash

Santa Clarita real estate video radio podcast news (04:53):

So you get your contract signed with the agent that you're choosing, hopefully, made. And then when it comes down to it, we start the advertising program and marketing program that day with a single exterior shot done with my iPhone. And meanwhile, up until the points in the future that I'm going to discuss here momentarily, we're going to be ordering professional photography to be done. There's going to be maybe some honeydew-type items that I will ascribe to you and say, this, these things need to be changed. Of course, of the things that need to be changed. Usually, it has nothing to do with injecting extra money into the residence that typically is reserved for different markets. And that's not where the market is a seller's market, where the sellers are holding all the cards. That type of market is usually a buyer's market. When there's a lot of competition between sellers, that's typically when you start to see people putting more money into their houses to try to compete with the Joneses down the street that had the same exact home that you happen to have.

Santa Clarita real estate video radio podcast news (05:51):

And they're trying to sell theirs for top dollar. Now you come on the market, you're missing the kitchen that they, which they had redone a couple of years ago, you're missing some of the internal components that they had changed in the residents to make it flow better. You're missing these sorts of items. So that next step may be to inject some money into it, to help your price as far as what you're going to be selling it for, but everything can be accounted for. So you're going to want to look at those numbers, for example, in today's market, where the sellers are holding almost all the cards. A lot of times when you're putting in one ad to a kitchen, that's basically demolished at a demolished state. You want to put something in there, functional, maybe that could help, but in a, at the end of the day, with all the buyers out there, eventually there's probably going to be somebody out there that's willing to accept that kitchen as is and still pay you premium money for the property.

Santa Clarita real estate video radio podcast news (06:44):

So that's the question. So we want to see what the buyer drive is in a local area, which any agent, any good agent would be able to verify with you. And then also look at those numbers. If it's going to cost

$10,000 to bring the kitchen up to just a normal level, but you're only going to get five to $7,000 extra. It's not going to be worth it. At the end of the day, you won't pay it. Won't pay you back dollar for dollar. So that's something that you're going to definitely want to ask your real estate expert about isn't going to be worth it for us to change these particular items. It should be. We do, as Connor says, go on the market and just let it run. As far as the property goes, of course, getting a decluttered, getting a Q-tip clean. I mean really squeaky, clean returning all the rooms to their original intended purpose.

Santa Clarita real estate video radio podcast news (07:26):

That's important. An example of that, let's say you have one of the bedrooms. It shows on the title that it's a three-bedroom, two-bath house in Saugus. Then you took one of the bedrooms and you and your beloved converted to an office years ago. And that's what it's been ever since. It's probably going to be better and pay you bigger dividends. If you have that office reconverted back into a bedroom, it doesn't have to be anything fancy. I'm sure you didn't change much in it except for maybe put a desk in a computer, but you might need to put a bed back in there and maybe a dresser still live a desk and computer, but at least with a bed or a bed frame with a sheet over it, or maybe a quilt or a comforter, people now make that connection. No, this is a bedroom, and believe it or not, folks have difficulty.

Santa Clarita real estate video radio podcast news (08:08):

So it's easier instead of having to try to hope their agent has the wherewithal to answer the question properly, just to have the bedroom converted back to what it was at least. So there's a bed in there so that they understand this is one of the things on the title of which the house has besides that deeper deep personalization is very important too. We see a lot of properties that still have massive amounts of pictures inside of them, of actual human beings, family members, friends, those sorts of things. It's tough, it's a tough place. And a lot of the buyers out there can detach. You'll see studies done on this are unable to detect a match, and actually assume the home is theirs and paint that full mental picture of this residence. Just for the simple reason that they see other people in the pictures. Now, of course, you know, maybe if you have behind the pictures, they have the, uh, the outlines there and there are those sorts of issues.

Santa Clarita real estate video radio podcast news (09:05):

I understand that maybe you don't want to paint maybe the money and the paint isn't going to reap your benefits. Maybe swapping out the photos inside of those frames for something else might work better. But at the end of the day, I think it's going to really pay off to depersonalize your residents. And besides that de-cluttering, and Q-tip clean. We want these people to see the front of the house in the best possible light. We also want them to see all the counter space in the house. We want them to see the full view of the rooms. If you have boxes stacked from floor to ceiling, it's going to create issues and probably going to limit your experience when it comes to buyers. Writing offers. Now in this particular market with 229 units for sale, these units are flipping over very quickly. So the timeline typically runs as far as the listing goes, is it's taken sometime 21 days into the future.

Santa Clarita real estate video radio podcast news (09:53):

Usually, after that's taken then 21 days later or some other amount, but less than that, that property is going to come on the market as active, just prior to that, pictures are going to be taken. They'll be posted online. And then an announcement is going to be given as to when this particular property is ready to be viewed. That's going to be the release date from coming soon to active that being the case, it's going to help a lot of people start to get their schedule together. And usually during that first evening

for, excuse me, the first weekend may be going live on a Friday, having for showings start first-time Saturday through Sunday, and maybe into Monday, more than likely you're going to have a massive amount of traffic. So at that time, I tell my sellers to disappear for the weekend. Go somewhere else. I got it.

Santa Clarita real estate video radio podcast news (10:43):

The agents are going to be showing the residents. They're going to be using a secure lockbox. There's not going to be any question as to who's opening that box because there are massive fines imposed. If agents give their cell phone, which the keys are driven by a, basically a web access point that you can't, you have to actually download. And there's only one available for one agent. So back in the day, there used to be a combination key or a digital key with a signature. If an agent was breaking the rules, Becky to his client says, go look at the house and let me know what you think. And if you like it I'll write the offer. That's that was a violation of the terms of the multiple listing service and the showing codes back in the day. Now it is as well. However, with the showing, sorry for the sticker with the showings, you actually have to have an app that's downloaded on your phone, and for an age to give their phone to somebody to have them use, it would be incredibly difficult because the still wants to make money.

Santa Clarita real estate video radio podcast news (11:55):

So this is the app that's used. You push the key to obtain it at that moment, that listing agent gets notified that Hey, Connor, MacGuyver, California real estate Dre number 0 1 2 3 8 2 5 7, just used his super key to open up this particular lockbox. Now, if Connor has an appointment, all is well in the world, especially now with COVID, but of Connor's just somebody driving by as a real estate agent that wants to go into the property. Connor should know better. In fact, Connor will probably get in a lot of trouble for doing so. That's why the showings are typically all verifiable. And especially now with COVID, everything's done by schedule and by appointment only. However, because of the lack of buyers, those appointments do fill up. And it's not a problem to have 15 minutes showings all day long from eight o'clock in the morning to 7:00 PM at night, almost all the listings will carry that kind of showing activity, depending of course, on price point.

Santa Clarita real estate video radio podcast news (12:56):

And if that happens to be the flavor of the week and by the flavor of the week, I mean, with regard to real estate, there are some houses that are in higher demand than others. If you get up to two and $3 million homes in Valencia, let's say they're going to be a lot lower demand for those resonances, just because not a lot of people can afford those. So that median house prices where people are going to be looking somewhere between 700 and 800 to $900,000, then they're going to be looking for somewhere between three and five-bedroom and two to four bathroom with a regular lot, maybe pool size, maybe with a pool, you can get pools and those price ranges as well. Maybe that's something they're looking for. So as long as these properties fit within that square, that rectangle, but at least a little bit more than likely they're going to be viewed by a majority of the people and they're going to have a boatload of viewings.

Santa Clarita real estate video radio podcast news (13:47):

So that's something to prepare for. If you happen to be a real estate seller, thinking about putting your property on the market. And finally, with regard to sales of real estate, a lot of buyers are asking me what I'm talking about. And even sellers are asking you this too. They want to know how the pricing strategies work because it doesn't make sense to them when they're seeing online these different syndication sites stating that a property is a value to this much yet when they watch 30 days later and

stay people a long time to buy real estate, because there's a high level of competition for buyers out there, even still in Santa crater valley. And that also exists in a lot of other parts of this country. And especially here in Southern California, where real estate seems to be a total prime commodity, as it always has been and seems, but what they're doing is when they go out there and they're starting to look at real estate and they see a property priced at seven 50, maybe they like it enough to write that offer at seven 50.

Santa Clarita real estate video radio podcast news (14:46):

Once they do though, then let's say they don't get the property, or they may go up to 7 67 70. Then when they see the property close, 30 days later, they see that it's sold for eight 50. So it went up a hundred thousand dollars. They don't understand how that's possible. Well, it's possible because that particular buyer that wanted that residence waived all of their contingencies out of the shoot. They stated that they don't care what they find out about the house. They don't care what their inspection reveals. They don't care any of the F uh, any of the items inside the house what's going on with them. They don't care if there's mold, they don't care. If there's a roof problem, a leak, they don't care. If anything, all they care about is getting the residents and they're willing to waive their appraisal and they're willing to pay whatever it takes to get this residence up to the amount that they're offering.

Santa Clarita real estate video radio podcast news (15:36):

That being the case. Of course, most of those particular buyers still need a loan on the property, but they're taking it upon themselves. Maybe being guided by their agent to waive their appraisal contingency to looks good to sellers, but there are other reasons to cancel the transaction. Besides the appraisal, if the appraisal comes back lower, just as a seller, understand if that particular buyer stated that they're going to waive their appraisal contingency and they're going to pay whatever for the house, the appraisal could come back a lot less than they actually said they would pay. What's stopping them from saying, you know what? I didn't realize that there was a school, three miles away. I really don't want to buy the house anymore. That's a contingency that they can fall back on a state that they don't want to do it has to do with their inspections in their investigations.

Santa Clarita real estate video radio podcast news (16:25):

Maybe somebody is gonna come and they're gonna look at, uh, one of the other documents produced when you buy or sell real estate and natural hazards disclosure. And they find out that this property is located in a high fire zone that has happened out here. You seen those fires on TV, Santa Corita's has had them. And again, maybe that's something that a buyer could fall back on. It stays well really for the appraisal, but we can't really cancel for that now. So we'll go ahead and do it for this other reason. These are all legal questions. These are all issues, and they could have extreme consequences. So before you start bending the truth, and some of these ways are breaking, trying to break yourself against the rules, make sure that you have good advice going in because you don't want to be standing there wondering what just happened because you lost your deposit on our property.

Santa Clarita real estate video radio podcast news (17:16):

That's incredibly important. So ask the question, if your agent's telling you okay to do something, that sounds strange. Make sure you follow it up with an email, for example, Connor. I appreciate you talking to me today. Uh, we're so happy. We found you as our agent, but you said that it would probably be best if we waived all of our contingencies right at the beginning and went for the property and paid initially and offered an additional a hundred thousand dollars on top of it. So we could for sure get the

 

property 100% lock stock barrel. Well, that would be silly for Connor to say anything like that. But at the end of the day, if an agent is spouting words like that and talking that way, following that up with that agent, email usually gets them to come to well, Jesus. They actually realize that maybe they shouldn't put that in writing and they'll come back and they'll show their true colors to you.

Santa Clarita real estate video radio podcast news (18:10):

And they'll tell you, you know what? Maybe I made a mistake. Maybe I misspoke, whatever it may be, but that's probably the time to start looking for another agent. Instead of that one, you want somebody that's going to be honest from the beginning and at the end of the day, being honest in sales, when you have to produce a certain amount, so you can just survive sometimes, maybe lacking. But when you find an agent that is honest with you, whether they're going to make money from it or not, that's the one to keep. So look a little bit around, check out STV vinyl on one.com. The rest of the information is there. I have the most visited blog here in Santa Clarita valley. So please check out that as well. At the end of the day, here's the final word. There's a lot of properties online.

Santa Clarita real estate video radio podcast news (18:54):

There's a lot of real estates. That's being advertised on a lot of different websites. Some of them are actual listings. Some of them are maybe fraudulent in some way, shape, or form. But if you go to a real live agent that does have access to the board of realtors, you'll be able to get those listings hot off the press. As soon as any other syndication sites, get them the Redfins, the realtor.com even my site because I'm sending you properties directly from the multiple listing service. So when you're ready, the best thing you can do is to start your home search. Besides speaking with me about the right questions, asking a real estate lender, to make sure you're getting your best deal on your home loan is going to be the way to search for real estate and how to get those listings prior to them coming on the market is coming soon.

Santa Clarita real estate video radio podcast news (19:43):

Listings that have to be dispatched directly from the board of realtors. I'll give you that information, the questions to ask lenders, to save yourself a boatload of money when it comes to getting a home loan and for you sellers out there, the top five reasons your home won't sell, and top dollar, I'll be able to help you out with that as well. I'm Connor MacGyver. Please tell a friend, this has been your real estate update. We heard July 14th, 2021, and I hope I've bored you to tears when you're ready. Please reach out to me though. I'd love to help and I will talk to you very soon. I am Connor MacGyver over and out. No, I have to find the stop button. That's what I want to do right now. So close. There it is. Have a good day. 

As far as Santa Clarita real estate is concerned - I'm Connor MacIvor and this video real estate update show is updated when there is new and exciting information to share. 

When you are ready, reach out to me on my Santa Clarita real estate cell phone 661.400.1720 and I'll take great care of you.

June 25, 2021

Santa Clarita real estate and upcoming open houses

Transcription from voice to test for Santa Clarita real estate by video update show

Connor MacIvor Santa Clarita home experts video (00:00):

And good to everybody. I am Connor MacGyver as CV 9 1 1 with the XP Realty here, headquartered in Santa Clarita Valley, serving greater Los Angeles. We're going to talk about open houses today. We are at June 26th, 2021. That's right. It's Friday. Just had to make sure. So the new thing on the, on the, uh, on the event trail is this. So we've had a lot of very low inventory. If you're a buyer out there in this market anywhere greater Los Angeles. In fact, if you're actually a buyer moving into another state, you're probably banging your head against the same wall. The rest of the buyers are, and that's going to be the real estate with limited inventory that starting to loosen up a little bit. And we're seeing this on a couple of different fronts. If you look at standard real estate throughout the year, and you look at the best times to sell more than likely for almost any market, including the one we're in now with this very, very low inventory, the spring, and the summertime is going to be the best times to sell real estate.

Connor MacIvor Santa Clarita home experts video (00:58):

You're going to get your best return. Typically as a seller and as a buyer, you're probably going to have more to choose from, but your price point might be a little bit higher, but then that balance comes in. You know, let's say we find something that we really like, but it's $20,000 more than it might be in an off season sale. What do you do? Well, you have to adjust with the times and see if that 20,000 is going to be worth it by breaking it down, maybe by payment to see what that extra is going to cost you, to be able to buy the house you really want versus maybe waiting a few months to do that at a discounted price, or maybe buying currently, not the house you really want, but something that might be a little bit less, let's say by $20,000.

Connor MacIvor Santa Clarita home experts video (01:39):

So these little formulas have to be worked out amongst yourselves, whomever, you are purchasing real estate with the decision-makers and the people that are going to be living in the residence. The very important point now because the market is starting to slow down just a little, we still have multiple offers on properties. Properties are still selling within hours, if not a few days. So we're not out of that yet, but instead of the 20 and 30 offers, we're seeing that number less than two, maybe 10, 5, 3. I'm watching this trend as we see real estate numbers increase. So as of today, Friday the twenty-six, two hundred and forty-seven total homes on the market for sale Santa Clarita, that's going to be Castaic canyon country, new hall, sagas Stevenson, ranch, and also Valencia. So this is pretty much everything within the week. Y yeah. Anyway, so the 14 freeway five freeway makes a Y.

Connor MacIvor Santa Clarita home experts video (02:38):

Correct. So that's pretty much everything within the Y there. So that's going to be what that inventory is currently of that there are only 19 of those that are coming soon. So the rest of those are on the market. If you track back four or five weeks, we had 150, 160 units on the market for sale at any given time and of those 1920 or 30, we're actually coming soon. So we're seeing a change in the market. We're seeing more inventory hit and that's as I opined, or maybe cast it just because we have now an ending to COVID coming seems that that's going to be all settled. Travel restrictions are going to be lifted very, very soon. So people are going to be able to go where they want potentially people that maybe haven't had a vacation for a very long time. They're going to maybe start to travel again.

Connor MacIvor Santa Clarita home experts video (03:25):

We're also going to see, as we get in deeper into summer, people are going to start preparing for the, in the actual real school where kids actually go back again, so that placement's going to be important for

them. And if you have a house that happens to be in a very good school district in Santa Cruz or blue ribbon, you're going to also get a premium by selling this time of year on top of what you normally would, because there are a lot of people searching by the school district and they want to get that placement for their children just right. So if you're a seller that has that to offer, make sure that that's pointed out and also not discounted. So the agent can get a quick sale. It's not really proper. You shouldn't have to do that. So back into the real estate market, currently, what I've seen is this.

Connor MacIvor Santa Clarita home experts video (04:09):

So over the last couple of weeks, we had the moratorium on open houses lifted. So now you're probably seeing a lot more open houses out there on the market. You're watching, as you're driving around neighborhoods, you have the agents putting out their open house signs, trying to run back to their car before they get run over parking illegally that whole nine yards. So that hasn't changed at all throughout the years. That's still a typical operating procedure. Apparently, they're putting the open house signs out and then you come into the open house. So right from the door, they're probably very friendly, a couple of questions, you know, do you have an agent? Where is your agent? Why is your agent with you? Or are they too busy to represent you? Maybe you should try me for example, those sorts of things. So maybe a little bit of high pressure.

Connor MacIvor Santa Clarita home experts video (04:51):

The other thing they might throw at you is this. They might say, well, you know, I'm representing the seller and really nobody knows better what the seller is going to set, except, but me, because I'm as confidant on this real estate agent, I'm the one that they actually chose to sell their house. And in fact, I think that I might be both to pitch your offer. If you just use me exclusively and help you get this residence, let me throw a couple of flags on that. Number one, the agent that just gave you that beautiful, beautiful story is actually in contract with a seller because of that, because he is a written contract, he has more of a fiduciary obligation. Now, this might've been something that he spoke with a seller about pitching. If that's the case, then it's okay. But if he's doing this on his own, it's not okay.

Connor MacIvor Santa Clarita home experts video (05:39):

The other thing is this. When it comes down to what the seller's going to accept, and I know this very well, and if you're a seller, put yourself in their shoes, if you have your agent bringing you an offer and you have 10 other offers on the, you're going to look at everything overall, if your agent tries to spend this one particular offer as a seller, you might think, Hmm. I wonder why that is. And then you find out that the agents potentially going to be making more by doing that, representing both sides on the transaction, that could be a reason, or it could be that your agent does have the best offer through this particular person that showed up at the house. If that's the case, usually you're going to see now a counter offer process put into play, and it could be that other people come back higher.

Connor MacIvor Santa Clarita home experts video (06:31):

But at the end of the day, my recommendation is always for buyers to get their own agent. It would be the same as if you went to hire the same attorney that's coming after you and suing you. That's been hired by the person that wants to set that, uh, set the suit against you. So my recommendation is always to have your own real estate representative in the real estate transaction. It's always built-in that. You don't have to pay your agent as a real estate buyer. The buyer's agent always gets compensated through the seller, no matter who the seller is. And this also works at new housing. These are things to know.

When you go into the open house, also with the open house, they're going to ask you to sign in per COVID guidelines. The seller wants to know who's been in the residence. This is a change from before.

Connor MacIvor Santa Clarita home experts video (07:18):

They used to use other tactics to get people, to actually give up their personal information, to come into a residence now because of COVID and those restrictions loosening up quite a bit where masks aren't being worn, typically in the west, upon the seller's request, those sorts of things. Now they're actually including the sign-in sheets. And they're asking everybody to sign in this there without a real estate agent. And they do that because the people that come with an agent when I'm going and showing an open house, which I do often to my clients, they're not, I'm not going to, I'm going to know who my client is. So I'm not going to give my client's personal information to that seller's agent so they can harass them to the end of the time. So that's one of a recommendation as well that I have when you go in if you go in alone and understand that they're going to ask you to give your personal information.

Connor MacIvor Santa Clarita home experts video (08:05):

And I don't know if you were to try to stop and not do that, what the consequences would be. I would imagine they would say this. Seller's not going to allow you to view the house because there's no real record of who you are, but there's also never really any verification of who people are that come in. I've never once seen an agent ask for somebody for some form of ID or driver's license to verify who they are as they came through the open house. So that's, that's two parts, two open houses that you're going to see out there. My recommendation is whenever you go into an open, open house, whether you have one or not, yes, I have an agent I'm well represented. I just want to look at the residence. Is that going to be okay? And typically that agent is going to say, absolutely, that'll be fine.

Connor MacIvor Santa Clarita home experts video (08:48):

I just need some more information. You know, your ages name typically, or maybe your name, depending on what they're looking for. But usually, that works at the end of the day when it comes to new housing, purchasing new residential, real estate, new home builder, new construction websites, and also new construction sites for buy new builders. The thing to know there is once you go in and you didn't go in with your real estate agent and you sign pretty much, you've given up the right to have your agent work for you on that residence and work and look at all the disclosures, read all the information, negotiate for you because you gave it up by going in without your age agent, there are signs posted. I'll be up the night, huge, but new housing typically does put these signs up. And it does state on there that if you show up to a new housing development without your agent, then you lose all right, to have an agent by your side, your own agent, you have to utilize the builder's representative, which typically is not a realtor.

Connor MacIvor Santa Clarita home experts video (09:48):

That's going to be just a, uh, uh, licensed caring state of California real estate agent. That's been hired by the builder to represent them when it comes to new housing. That's also something to watch out for a different trend. We've seen as far as looking at real residential real estate, usually, I'm scheduling showings two and three days ahead. Uh, we see that they're not as tight as they were even three or four weeks ago. So we also see that loosening. We see that in some cases, rental forbearance, that was going to come up. This June the 30th, also the regular mortgage forbearance that was come, gonna come up June 30th, it looks slide nine. This is what I've seen from a few of our clients that have entered into forbearance a while back, they're able to get extensions till September finishes till the end of

September, what I had seen and what I've been watching the real estate inventory is inventory starting to pick up.

Connor MacIvor Santa Clarita home experts video (10:47):

Um, I think that's going to stay a little bit slower than I thought because this month as we come to an end, people are going to be able to extend that forbearance. But I still think we're going to get some news in September that, uh, it's going to cause people a little bit of panic. And the people that haven't been selling their houses is that of no want to do for the past year, year and a half. Since COVID started, they're going to reactivate and they're potentially going to start wanting to get those houses on the market, again, not the best time of year, but maybe in until the end of this year, because they're going to be worried about what quarter of 2022 is going to look like what quarter one will look like of that year, depending on how many properties in forbearance go to foreclosure, which I know the servicers have been stating the, to their vendors, please, you know, do whatever you can not to allow these properties to go into foreclosure.

Connor MacIvor Santa Clarita home experts video (11:36):

But I think we're going to see that potentially being something that people need to watch out for not going to create a massive foreclosure market. But I think it's going to spear off a lot of sellers out there. They're going to want to start listing their houses for sale. And that's going to start to add inventory to the market, the salable market. And then that inventory is going to be experiencing price reductions. So if you have to sell folks, I would do now without a doubt, no, if and or buts, if you have to buy, you have to look at your current situation and how important it is to you as far as finding a deal out there right now, there are none, there are still too many buyers in this market that are willing to pay whatever it takes to get these houses. And basically when the highest bid on them.

Connor MacIvor Santa Clarita home experts video (12:26):

And in some cases, it could be that that's fair market value. In many cases, it's exceeding fair market value. Yeah. If that's okay for you as a buyer, then just let me know. And we can go out and start doing that. Searching for real estate starter show stuff in person. I always pull comparables as most agents should. So you know exactly what you're paying. And if in fact what you're paying is going to be more than what the appraised value would be. Very good information to know I'm Connor, Nick Iver. This has been your SCV nine one one.com update. I'm here in Santa Clarita valley. Most of Southern California I'll go to it just depends, but most comfortable here in Santa Clarita. So if you know anybody, you, yourself, family, friends, whomever in your sphere influence wants to be out here or leave here or do anything out here. Give me a call. I do it. You're listening and watching. We'll talk to you very soon for past best, uh, episodes of the SCV update. You'll see them. So just below this video@scvnineeleven.com by date. Thank you so much. You be safe and we'll talk to you soon.

June 15, 2021

Bidding wars at new home sites and a market slow down seems to be indicated

The Santa Clarita real estate market update June 14, 2021

Santa Clarita real estate update scv911 (00:00):

And good to everybody. Thank you so much for tuning in. I am Connor MacGyver. This is your real estate update@scvnineoneone.com local agent here at exp Realty in Santa Clarita, California, serving all of the states. Also, we do have a lot of connection points all over the rest of the continental United States and also out of the country. So if you are looking for something that's not where we happen to be located, still reach out to me. I'll make those connections for you and make everyone happy. Let's get into today's broadcast. We are at June 14th, cheating. There we are Monday. Uh, typically the broadcast does finish and get done sometime compiled on Mondays. So when you do go to SCV 900 eleven.com, you'll see the latest broadcast. If you get there sometime Monday afternoon or throughout the week, you'll be able to see what's going on in the real estate world.

Santa Clarita real estate update scv911 (00:52):

ExP of Southern California ValleysAnd today we're on June 14th, 2021. Now just a couple of items points of interest before we get into what's going on in the real estate market. And the dynamic changes that are going on. And there are quite a few so we can discuss those. But for the past several months, we have seen limited inventory, but that doesn't mean nobody's able to purchase real estate. It's just a little bit more difficult and it takes a few more times usually getting up to the plate and taking a swing at the ball. Sometimes though, a lot of people get in their first one first offer in wins. And in other cases, sometimes the sellers don't want to really wait too long and have their property looked at too much because that does wear people out, especially with owner-occupied properties. So we do see some sellers actually just accepting an offer when it does come in, not countering not changing anything.

Santa Clarita real estate update scv911 (01:44):

And that's also going to be very dependent on your agent and how they write that offer. If they write that off relatively cleanly. And there's really nothing that the seller's agent is going to counter or wants to exclude from the offer that was written. Usually, those are the easiest for a seller to accept, but in some cases, agents also do fire counter offers off, even with those types of the real clean offer type, just because there are certain things that have to be cleaned up. As far as the agents concerned who has to grow is going to be who's the title company that's going to be used certain things, just kind of assigning, uh, different companies to do different tasks within the real estate transaction. Now, as far as real estate goes currently, uh, pulling the inventory today, and this is all of Santa Clarita Valley cities, all the way, Casta canyon country, new hall, sagas, Steven Serrano, Valencia 205 total units on the market for sale and of those 205, we have 31 of those that are coming soon listings.

Santa Clarita real estate update scv911 (02:47):

Now some of the real estate syndication sites online, they're showing those coming soon listings as being available, just be wary. If you want to actually get to the bottom of that, what exactly is coming soon and what isn't just contact me or your agent, reach out to them and say, listen, Connor, if you're reaching out to me, Connor set me up on a search for this particular city and include the coming soon listings. Very easy. You can contact me@scvnineoneone.com. You'll see how to do that very easily thereafter you get on watching the real estate update for the week. So at 205 units for sale, uh, minus the coming soon listings, that active inventory that still causes this particular market to be incredibly hot, we would need at least five times the inventory numbers seem to work out about that. So somewhere around a thousand units for sale to make the switch in this particular market from being a seller's market, backing that off and maybe giving the buyers more advantage.

Santa Clarita real estate update scv911 (03:42):

But right now there's nothing like that. However, in the last couple of weeks, I have noticed when showing properties on the weekend that it used to be standing room only it real estate listings. It seems to be slowing down just a little bit and don't have an explanation as to why that is, but we are getting deeper into the summer. A lot of people now COVID is kind of over. People are going to start taking vacations. Maybe that wasn't able to for the past year travel restrictions are starting to lift. People, start to do a little bit more moving. So maybe real estate is taking kind of a back burner for some. But again, that doesn't mean that real estate is dormant. It is very active. And for properties, we still have the multiple offer scenario that we're seeing when multiple people are looking at the property.

Santa Clarita real estate update scv911 (04:25):

A lot of them being very interested and I'll writing offers on the property. So there are multiple offers with that particular, the way that that works is the seller can just choose. One can also counter each one, can counter each one and say, give us your highest offer and change the terms to make it better for the seller. So there's a lot of ways that they can be countered, but as long as the seller hasn't selected an offer, even if you're writing maybe late in the process, maybe they've already had them as long as they haven't selected anything and gotten confirmation from the other party, you can still get your offer in there. So don't let anybody dissuade you from doing that. It's good practice at least to get out there and know the rules. So you're not, uh, pressed up against somebody that might not want to do it because all it's too late, it's not going to work.

Santa Clarita real estate update scv911 (05:19):

You never really know. And also don't forget. We still have somewhere around 20 to 25% of the listings that still bomb, which means they basically go from being an escrow, having a signed-off Beal, to not being an escrow and being active. Again, lots of reasons for this to happen. And probably not for the reasons that you may think it's usually not some kind of a seller thing, like an issue with the property, like mold or boundaries or some kind of an improvement that was done on the residents that weren't permitted. It's usually fangs, not things like that usually come down to it when escrows cancel, it's a buyer issue. So the buyer might not be able to get financing. And I'll tell you one of the biggest rules out there. If you are a buyer, you don't want to change any part of your financial profile.

Santa Clarita real estate update scv911 (06:09):

So when you are looking for real estate, you've been approved by your lender. Don't go charge anything up on your credit cards. Out of the normal don't pay anything off out of the normal, keep everything the way it's supposed to be in the way it was when your credit was run, monitor everything, make your payments on time. And don't go out and try to finance things like a vehicle or furniture or whatever it may be. Don't open up a new line of credit. Don't pay off any lines of credit, unless the lenders asking you to do that. And before you make any one of those moves, this is great advice. Folks. Once before you make any kind of move financially, even getting a Chevron card, you're going to want to reach out to your lender and say, Hey Jack, it's Connor. Um, you approve me for a loan for X amount of dollars.

Santa Clarita real estate update scv911 (06:58):

Listen, I got this great deal from Chevron. They're going to give me 0% interest if I use their visa card or whatever it may be. Is that going to be a problem? Now, if he tells me that it's not going to be a problem, don't worry about it. That'll be fine. I'm then going to follow up with Jack the lender and an email and say, Hey Jack, it's Connor. Thanks for taking my call. I do appreciate the time you took to

speak with me. Just so I understand I'm in the process of buying a house. You've approved me for X amount of dollars in real estate to finance me, getting the Chevron car that I talked to you about. Isn't going to impact me in any way, shape or form negatively. I just wanted to make sure I understood you correctly. Before I actually signed up and got this particular credit card, nine times out of 10, after they've seen it in writing, they might respond to you a little differently than they told you before.

Santa Clarita real estate update scv911 (07:49):

Now there's accountability. Now there's something there that you can fall back on later if everything falls apart because you went out and got a Chevron card or some other type of credit card being a new line of credit. So be wary of that. Everything in real estate, you should follow up in writing with the entities that are your agent. If I'm spinning some fancy tale about how you're going to be able to get a house for nothing and so on, definitely you want to follow up those nonsensical statements in an email so you can pin me down or, you know, fire me and go get somebody else because that's ridiculous information. A lot of times you'll see midnight TV stuff late on television. You'll have your friends tell you how they got the best deal in the world on a particular home or alone with all of those things.

Santa Clarita real estate update scv911 (08:39):

A lot of those are teaser, a teaser information, teaser rates. So you might see on TV that, you know, they're going to give you a 1.5% interest rate. When the regular market might be three and a half currently, you're going to want to investigate that. And if willing to do that, that means they're eating some costs. And maybe even if that's even possible contributing money to your loan, basically giving you something better than for free, they're actually funding it and paying for it. Be wary of that because these are teaser rates and a lot of them are just trying to get your business. They get you in the door, they get you to give up personal information like your social security card, dates of birth, uh, addresses , and stuff. Get you to sign on the line, which is dotted, stating that they're going to run your credit and they can draw you in.

Santa Clarita real estate update scv911 (09:27):

And they say, oh, you know that 1.5% interest rate, well, it's not really applicable to you because of this, this and this, but we have a great 3% interest rate or whatever it may be. I don't like the bait and switch deal. Sometimes it happens too frequently. But again, follow that up with them in an email. If it does sound too good to be true, sometimes it is. As far as the real estate market goes, we are in June. I spoke about this last episode on a CV nine one, one.com. At the end of this month, forbearance from everything that seems to be pointing. Two is saying that it's going to be finished. Those people that haven't made their mortgage payment for a long time, those mortgages are, are now going to the payments are going to resume sometime July, whatever that was. And it's going to be very dependent on whatever the schedule was prior to COVID and when the people called into their bank, there's also another side of that.

Santa Clarita real estate update scv911 (10:23):

That happens to be the rental forbearance. That's also coming to an end sometimes. And this is about the same time at the end of this month. That's probably going to be a little bit more difficult because in that particular scenario, those landlords out there probably aren't going to put that year's worth of payment, that the renter, their tenant didn't pay at the end of the lease to have them pay it, come, you know, pay it when it's finished. They're probably gonna want that money upfront. So we're going to see maybe a little flux in the market. I don't know if that's going to equate to more listings coming onto the market,

but if we start replenishing the listings we have at a higher rate then we're able to sell that supply and demand issue is going to switch on us and we're going to have more supply.

Santa Clarita real estate update scv911 (11:08):

Then we're going to have to demand new housing. If you're interested in that, you can go to Santa Clarita, home experts.com forward slash new. You'll be able to search for new housing in Santa Clarita valley. All of it is dependent on you being approved with a particular lenders, especially at five-point, which is the new development off of magic mountain. The houses are in the sevens. Doesn't look like there's any kind of occupancy able to happen until September that's the soonest they can be built and they do have a limited inventory, but the starting point is contacting me. I'll put you in touch with their lender. You get pre-approved and then we'll go walk the new residences by both KB homes on Lenore at five-point to see what the best fit is for you. To me, because there are particular questions that I'm going to want to give you.

Santa Clarita real estate update scv911 (11:56):

So you can ask the new home lender at any new housing track to best get your best advantage. The most credits, the most discounts, and the most, uh, money back with regard to closing costs as well. These are all very important questions to ask and I'll give you those. So when you do speak with that lender at the new housing, you'll be able to get everything that you possibly can remember as a real estate buyer, when you're purchasing real estate, you don't pay my fee. The seller does. And that also includes that new housing when you're ready, the sellers of those, the builder were actually paying me to represent you and they have their own agent on their side of the new builder community. That's those agents that are, uh, they're being receptive or smiling, wanting to help everybody. And then you have your own agent on your side, 100%. I'm Connor MacGyver. Thank you so much for watching this week, June 14th, Monday's real estate update. SCV 9 1 1 is where you can find us every week. SCV nine one, one.com on Connor. Thank you so much for watching everybody be safe. And when you're ready, you can send those that are looking for very good real estate agent to me. And also if you're looking as well, I would love to help. Thank you so much. We'll talk to you soon. Connor MacGyver, over and out.

June 7, 2021

Santa Clarita real estate update Sellers Market persists

Produced June 6, 2021 by Connor MacIvor for his real estate clientele and others interested

Below this text is a transcription of today's real estate radio show. The real estate market is assuredly deep in a seller's market. But inventory has been creeping up and I'd bet you dollars to donuts that these markets reset point is going to be additional inventory, not in the way of new homes being built, but with droves of "re-sales" hitting the market. The new home impact has yet to be seen due to the soonest move in's - slotted for September 2021, according to my builder friends.

If you want to buy a new construction home, make sure you hit me up first!

There are a couple of panic points for real estate owners in Southern California, especially the Santa Clarita Valley cities. 

1 - Forbearance ends 6/30/2021

2 - LA County Rental Forebarance ends 6/30/2021

Listen to this radio show and every week you can go to SCV911.com to the weekly real estate show and keep yourselves up to date with regard to the Santa Clarita Valley cities. I'm Connor - here is the automated transcription of today's real estate radio show.

Santa Clarita is a very unbalanced real estate marketscv911 real estate experts in Santa Clarita Valley (00:00):

Good to everybody. I am Connor, Iver. This is your real estate update@scvnineeleven.com. We are here Sunday, June 6th. So this is going to be for the next week here in 2021. So Sunday, June 6th, when this is being recorded, we're going to talk about the real estate market. Have a couple of items that I believe are going to be of great importance for you buyers out there looking for real estate, incredibly frustrated you sellers on the other side may have some concerns coming up in the future as well. It's going to depend on the overall look of the economy, but also some of the things that are coming to an end. So we'll talk about that. I want to talk about the inventory right now. This is, of course, Santa Clarita home experts. I'm with exp Realty here in Santa Clarita valley. You can always check weekly shows at SCV nine one, one.com as CV nine one, one.com.

scv911 real estate experts in Santa Clarita Valley (00:49):

You'll be able to find all the information there, search for real estate as you can on other websites. But the thing is, is you want to definitely make sure your personal information is protected and safe and anything you look at on my website, whenever you give up any of your personal information is always kept in my strict IST of custody, guaranteed. So it doesn't go anywhere. I'm not about spamming people harassing people. That's why I built a website. So you could go look at the real estate update all on your own. You want to search for real estate, taking that next level. Don't forget to save your search. That's important. And then get in contact with me when you're ready. We'll be able to take it to the next step. So let's get into this right here in the last few months, Santa Clarita a real estate inventory has been very, very low.

scv911 real estate experts in Santa Clarita Valley (01:31):

It has been low for the last several years. We haven't seen a stellar market as far as buyers having any kind of an advantage for quite a while, but we are seeing some uptick in traffic as far as real estate listings go. So up to a couple of weeks ago, we didn't have any more than 160 570 listings on the market for sale. I did pull that data here just a few minutes ago, 241 listings on the market of those 23 are coming soon. So the coming soon, typically in Santa Clarita valley, if you aren't aware, usually means, especially in this constrictive type market, they're going to go onto the market Thursday or Friday of each week. They're going to have showings typically Friday, Saturday, Sunday, and Monday. Usually on Monday that evening, everything's put on hold. Those sellers are then communicated with given the multiple offers that have been received by the agents.

scv911 real estate experts in Santa Clarita Valley (02:24):

The agents then sit down and discuss with the sellers a countering strategy. So they're going to come to, I would go to my seller and I would say, listen, we have of these 22 offers, which right now in this market is not uncommon of these offers. These are gonna be your five best, your three best, or whatever it may be. And I believe looking at these offers, these are the ones we should counter. I will have already vetted the lenders. I would have already looked at the proof of funds for those down payment amounts, of course, the highest higher, the better. And if those particular buyers happen to take it upon themselves to remove, uh, their contingencies or some of them, including appraisal, they might come back and they might say, you know what? I want the property so bad. I'm willing to give up my right to have it appraised for the amount that I've offered.

scv911 real estate experts in Santa Clarita Valley (03:12):

In fact, I'm actually willing to inject more into this particular property than what the appraised value is. And I'll go all the way up to the amount I offered. If I have to put that in, in cash, we have a lot of buyers doing that on the other side of its coin, is it prudent? Well, it's, uh, it could put the buyers in a sticky spot, but you have to weigh the pros and the cons. And definitely, if you're my client, I would have a lot to tell you about that. In addition, I would have a lot to tell you about also removing any kind of contingencies or shortening those timeframes. There are places to do it. You can get away with shrinking them potentially in some areas, but if you give them up completely, these are things that need to be discussed. If in fact, you are going to be writing offers with me as your real estate agent Connor MacGyver.

scv911 real estate experts in Santa Clarita Valley (04:04):

We're going to have to talk about this because it could get you as a buyer into trouble. And ultimately you could forfeit the deposit you put down on the property. So you have to be careful. That's thousands of dollars. And in some cases, in some real estate listings, the agents are demanding that the buyer put down 3% and that's a lot. So you have to be careful, $800,000, three times eight 24. So you got $24,000 in deposit tied up in escrow. If you give up a lot of your contingencies or all of them, just trying to make the seller impressed with your offer, maybe you have offered the highest if you happen to pull out for any reason because you don't have any contingencies anymore, you could lose that deposit. Now, of course, getting the deposit isn't as easy as that for the seller.

scv911 real estate experts in Santa Clarita Valley (04:53):

But again, after all of a sudden do, if you did in fact, give it away because you waive these contingencies and you're legally bound to give it up, that's, what's going to end up happening. So get good advice out there with the agents that you're working with. So the real estate market is constrictive in this regard with very few listings on the market and a high buyer drive. Uh, the lower interest rates are also adding to that. We do have COVID that seems to kind of be coming to an end, that's impacting the market itself and we're seeing more listings. So now that 241 figure that I talked about being up from the hundred and sixties only, you know, two or three weeks ago, we see that number actually checking in. And it could be that if this number does increase and maybe double or triples, that amount, that we could actually see a relaxation in prices and the seller needle start to go, or the needle of real estate sales starting to move from the seller advantage closer to the buyer advantage.

scv911 real estate experts in Santa Clarita Valley (05:52):

This is probably going to happen at some point in the future. I don't see the market collapsing in on itself because there is a lot of equity here. In fact, the equity in the real estate market is very, very high. We have a lot of people going out there purchasing real estate, as you can see injecting a lot of money into it, and also either buying cash outright or having a lot of down payment. Those types of buyers typically will not foreclose. They usually hold onto real estate back in the last cycle back at 2006, 2007. The problem was that people were using a lot of hundred percent financing. So even if they could afford the payment and didn't want to foreclose, some of those loans were being called. If they happen to maybe have an 80 20, maybe that 20% down loan for that money, that they didn't have saved, that they were using a loan to buy the house.

scv911 real estate experts in Santa Clarita Valley (06:42):

Maybe it came due in a year or two or three or five. That being the case, if it came due and there wasn't the equity contained in their residents because property prices had come down since the height of that

market due to the foreclosures and those other issues, they're stuck. They can inject the cash to pay that off so they can continue with their payment. But a lot of those primary loans were also adjustable interest rates. Those also started to go up. So we have kind of the perfect storm back then, where you had the big subprime lender fail. After that, it was like a house of cards. Everything came down. This market isn't reflective of that. This market has its own issues. Now we're saying that buyers are going way above what they believe properties are priced for. Whenever I go out and look with a real estate buyer and they find something that they like, we look at it together.

scv911 real estate experts in Santa Clarita Valley (07:35):

My next step is to give them comparable value. Then from there, come up with a strategy, the best strategy to find out where we're going to be in our offer. How high are we willing to go? Because that seems to be what's winning. There's also another strategy looking at making that offer the best it can be. And that's where we talk about timeframes and changing things. Maybe lowering the number of days for different contingencies, like the inspection consented CN, maybe loan contingency. But again, that has to be vetted. If you're a real estate agent is going to change anything for a home buyer that has to do with the loan. Well, the real estate agent does need to talk with that buyer's lender and make sure that the lender blesses that. So the buyer doesn't get into trouble later. And when they remove this loan contingency instead of 21 days and 10 days, maybe the lender's not ready.

scv911 real estate experts in Santa Clarita Valley (08:26):

Now, the buyer's in breach of contract and there could be, again, an issue come up. There's a lot of things to talk about with regard to real estate in this particular market. At the end of June, we're going to see the forbearance start to come to an end. I believe a lot of those people have four and a half million. I believe I heard recently. Those are the people that are in Fort barons, that many mortgages, that being the case, those first payments are going to come due. July one. A lot of those people are, if they signed up at the very beginning of the forbearance rules, not having to make a payment because of COVID-related issues, they could have not made a payment for 18 months. So you have that dynamic. If that gets blown out of proportion, it could cause a lot of sellers to flood the market with real estate listings that they've been wanting to sell prior to COVID even starting, but they held off because refinancing numbers were low.

scv911 real estate experts in Santa Clarita Valley (09:18):

Let's go ahead and refinance. That's relaxed a little bit. We can take a breather. Well, now the time for breathing is over. If the media makes a big deal out of this, it could be. Or if it actually turns out to be something other than what I'm seeing, it could be that the properties start to hit enter this real estate market from sellers, because what do they want? Well, they want to get the highest price for their property and they definitely don't want to best the market. If you're a buyer, I say, stand fast, relax, take your time. And only buy right now. If you have to, if you're a real estate seller working with me, I would say the sooner you get your property on the market, the better we don't know what's going to happen. One final thing that we've talked about within my group here at exp, there are some issues coming up with the rentals in LA county, there was a moratorium on rentals.

scv911 real estate experts in Santa Clarita Valley (10:07):

If a renter couldn't make their payment, the F the owner of the property, the landlord was unable to foreclose. They stopped all of that. Well, that's going to be also ending here at the end of June, from what I understand. So that could also create another financial obstacle for a lot of folks that haven't

made their mortgage payment, or excuse me, their rental payment, maybe the landlords have also gone to their banks with those particular properties and gotten some kind of a forbearance enacted. So they didn't have to make a payment, but I don't know the rules and regulations, how many properties they were able to include or exclude from that particular drill. We'll have to find out and see where that gets us here. At the end of June, we're going to see a lot of, uh, the renters now having to step forward with their payments, the regular payments what's going to be done with that other money, with regard to the regular forbearance for mortgages, it's probably going to be put in an escrow account, or maybe modified in some way and put at the end of the loan, maybe, uh, it'll be required on demand.

scv911 real estate experts in Santa Clarita Valley (11:08):

If they happen to sell that property, then out of the proceeds, that amount of money, whatever was held and not paid over the last year, year and a half for these folks, it'll be paid at that time with the renters out there. I don't think they're going to have it so easy. And I believe landlords are probably going to be calling that a mountain Dew or taking other action. So we'll have to see how that plays out, but that could also cause a ripple in the market where these things are coming from. I believe it's going to be coming from extra inventory, entering the market for sale people, wanting to get that highest price, but are delayed and may be delayed because they're not seeing something that they want to purchase on the market for sale. We have a lot of that, but by the time something comes on the market for sale, if a seller is already for sale that wants to sell to buy something else, they're pretty much dead in the water because you have a lot of people that are selling and renting or selling properties and holding off, and then finding that right property, writing that offer and getting it accepted because they can take their time.

scv911 real estate experts in Santa Clarita Valley (12:07):

They don't have to rush, and they're also not contingent on having their home sell. They're also able to compete with more people. I hope this update helped. I am Connor MacGyver. SCV nine one one.com nine one. One comes from a history of law enforcement vacation. No, and Santa Clarita Valley or Southern California valleys. We are here for all of the states of California. We're headquartered in Santa Clarita, the greater Los Angeles area. If you need me, please reach out to me. You'll find all my contact information that SCV nine one, one.com. I'm with the XP Realty. It's always a pleasure. And we look forward to speaking with you next week. If anything comes up, meanwhile, it's going to be posted right here. So just look below the video for any additional texts or maybe additional videos of new developments in the real estate market. When you're ready, please contact me. If you know anybody else out there ready to buy or sell or wanting to, or just kicking the tires, let them, let them call. I'm here to talk to you. Some things.

In Santa Clarita, there is one URL that people go to in order to obtain the latest real estate news and that is scv911.com

It's a forwarded URL to get you to the page that has the video about the Santa Clarita real estate market embedded into it. It's on my real estate site

June 1, 2021

Santa Clarita home buyers need to know their odds June 1, 2021

What are the odds of your offer being accepted?

Actually, the odds that your offer is going to be accepted is probably about 1 in 20. 

It seems that 20 is the average number of offers received by my questioning other agents and the offers received on the listings that I am Blessed to sell.

Santa Clarita home buyer education and help buying homesConnor MacIvor REMAX Gateway real estate radio SCV (00:00): Good to everybody. It is Connor. I ever sent a query to home experts.com. You can reach me of course, by cell phone text at (661) 400-1720 that's (661) 400-1720. We're about to get into June of 2021. I'm going to have an ambulance and a firetruck past me and just a second.

So enjoy the sirens in the background while I continue the day, the radio show is going to be about not only create real estate, the present inventory, and what's going on between buyers and sellers. So we're going to cover that. The bigger item I believe is going to be a little dissertation on best practices for homebuyers in this current market.

Now, right now, as of this weekend, the weekend before June 1st Memorial day weekend, we do have it that open houses have been allowed to be started again here in Los Angeles County, and a reminder out to home buyers. Connor MacIvor REMAX Gateway real estate radio SCV (00:59):

The open house agent doesn't happen to be the listing agent at all times. It could be some other agents, some other agent with their company, some other agent with another company. So it could be a myriad of people.

Cool. In other words, I guess the best suggestion is you never want to use the same agent the seller is using. That's my personal opinion.

I've been selling real estate for 22 years and I've never seen any good come out of those situations because in essence, in essence, the agent has to play both sides of the fence. The agent has to play hard bar hardball for the seller.

If they're a good agent trying to squeeze the most out of the buyer. And on the other side of the agent needs to be the best representative of the buyer, trying to squeeze all they can out of the seller. Connor MacIvor REMAX Gateway real estate radio SCV (01:51):

And you're asking one agent to do that while keeping good relations with all parties. So those future referrals will start and continue to roll in. Well, unfortunately, you can answer that question yourself, is that able to be done?

And I say, no, a lot of agents out there are going to disagree. I'm going to get a lot of hate mail on this one. But at the end of the day, that's what I believe.

There are six states I believe maybe more now, but at least six states plus Canada that outlaw the practice of dual agency, not a big fan, but it does happen now that doesn't include agents that happen to be working at the same brokerage because brokerage is different.

Brokers have hundreds of agents, literally hundreds of real estate, state agents under their license under their corporation. And that being the case, you might have a Remax of Santa Clarita agent as your buyer's agent.

Connor MacIvor REMAX Gateway real estate radio SCV (02:53): And on the other side, you have a Remax or Santa Clarita agent as the seller's agent. But these agents aren't part of the same team.

They just happened to be in the same company while dual agency exists because of the broker and other fire department vehicles, God bless you guys. And girls may, all of you stay safe.

Law enforcement as well, jumping back into it, sorry, when I'm on a tangent there, but, uh, they are close to my heart coming back to it. If you have that same brokerage, that same brokerage owns that transaction, both ends of it, but you have these agents that are fighting against one another.

So in essence, you don't have the same agent. So that dual agency I have, I have no problem with whatsoever because, in essence, you're going to find that there's going to be a local company that runs the game on inventory.

Connor MacIvor REMAX Gateway real estate radio SCV (03:44): What I mean by that is they're going to have a majority of the real estate inventory homes for sale at all times. And these are going to be the larger companies.

The Remax is the EXPs. These companies are going to have the largest amount of inventory here in the Santa Clarita Valley, as far as homes for sale.

That being the case, people also get concerned about the buyers, in that if they don't go through the listing agent, they're not going to get the listing sellers. Aren't looking for that anymore. Sellers are looking for the most money and they could care less.

If a Martian brings it is a licensed your, your particular real estate agent. Now, if you're a seller and your agent is trying to sell you on one of the offers, they're representing the buyers of your residence, I would really, really look at that very carefully and make sure you do not make sure you're being told the truth. Connor MacIvor REMAX Gateway real estate radio SCV (04:45):

Make sure that all the I's are dotted and T's are crossed. And you are being completely honest with you really have to know this, and you have to look at it from all angles because if your agent's getting an offer more than likely, there's going to be other agents.

So many offers as well. And in most cases, those other agents, if you have 20 versus one, those other agents, some of them are going to have stronger offers, better offer more capable offers than your own real estate agent, and your real estate agent folks do have a vested interest in bringing an offer. It's called a double commission, the commission that they charged you, and also the commission that you're paying the buyer's agent to bring a buyer.

The seller pays both of those costs. So sellers are wary, just make sure that you're looking at it correctly.

Connor MacIvor REMAX Gateway real estate radio SCV (05:40): And if in fact, your agent is bringing the best buyer great, but again, it's a tough perspective.

I do tell my sellers if I happen to get a buyer, I will push that buyer to another agent, let the other agent handle them so I can stay on my seller side a hundred percent. So the buyers out there are facing this.

This is the current market here in Santa Clarita valley. We do see very limited inventory, not a lot of homes for sale. The ones that come on the market for sale typically get released in a coming soon fashion.

About a week before they actually hit the market. What coming soon means is basically this is kind of a preparatory beginning or preparatory announcement saying, listen, this house in one week, it's going to be on the market for sale. So prepare yourselves if you're interested. Connor MacIvor REMAX Gateway real estate radio SCV (06:33): And that preparation is going to include a preapproval letter.

And that preparation is going to include you getting together. Your proof of funds, proof of funds has to do with the money. You're going to put down, showing that in fact, you have enough to close escrow.

So if you go to your lender and he says, you're qualified for a 20% down loan, you're going to want to show some kind of a bank account or a statement that shows you have 20% in there. Typically that preapproval letter and that proof of funds is something that's given to the agent prior to them, allowing your agent to schedule an appointment, to look at the property.

Now that happens. Well, that's stated on paper more than it's enforced, especially in Santa Clarita valley. When you have agents that know each other, and you know that Connor MacGyver isn't going to bring a buyer to your residence. Connor MacIvor REMAX Gateway real estate radio SCV (07:29): That hasn't been pre-qualified because that's an absolute total waste of everybody's time.

Connor MacGyver only works with people that are qualified and that are verified and vetted that actually can and want to buy real estate. And if a person's not ready, Connor, MacGyver's not going to waste their time.

So a lot of agents knowing that they'll accept a lot less for me to be able to schedule that appointment because they know I always do my due diligence when it comes to real estate buyers, as a lot of agents do, but in the end, if they still want it, if that's something that they've talked to their seller about, they've sold their seller on the sellers, excited about then great.

Then we'll get you the proof of funds showing that the buyer has enough to close escrow and purchase this residence.

And also that preapproval letter state, if they're approved at least the list price of the property, talking about these prices, they'll see a lot of properties selling for them. Connor MacIvor REMAX Gateway real estate radio SCV (08:28):

Some agents are trying to what's the word, trying to calculate what the property is going to go out as far as what level, how much so they're pricing those properties above where the fair market value is and that being the case, they're trying to dial up the number.

Well, there's always an absolute number when it comes to making offers on real estate. And that typically does not correspond with how property is priced. That's going to come down to competition.

And it's also going to come down to what's showing on the internet syndication websites that properties are worth. You can run property values through the Remax site.

You can run it through Zillow. You can run it through Redfin. You can run it through a Remax. I already said that, uh NRPR, which is another system. There's a lot of them, realtor.com. You can run homes, Val, how home values in there.

Connor MacIvor REMAX Gateway real estate radio SCV (09:26): Realistically, you're not going to get the best value until you go to the actual multiple listing service and have somebody pull you the exact data either by track code, which is very spot-on specific.

Or if there are not enough closings that match up, then you can do have your agent do a search or have us do a search and pull the data via the multiple listing service, but in a radial type format. So it doesn't have to be within that same tract.

If they can pull all the four-bedroom properties that sold in the past 180 days in a half a mile radius and they get at least six solid or five solid matches of sold closed properties that are all verified and vetted, and that is very, very close in relation to the subject property.

Then that's probably a really good comp profile and that's going to be better and more accurate than one of these syndication systems like Zillow or Redfin that are pulling data, using a computer program.

Connor MacIvor REMAX Gateway real estate radio SCV (10:31): When you have eyes on the ground, they're looking at the pictures, the agents comparing those, they're saying, wow, this, this one has a pool. This one doesn't.

So we're going to go ahead and exclude the properties that have pools because the subject property we're looking at doesn't have a pool, but let's say all the properties do and maybe one or two don't, then that agent's going to be able to put together the, uh, substrate subtractions, if you will, or the removal, uh, regarding the addition of a pool or the exclusion of a pool and those sorts of things. So in essence, the agent will be able to do those subtractions.

So you know what you're getting. So for example, a particular time of year a pool might add, I had, uh, you know, $50,000 to a property depending on the pool. But if you get a few in the pools that look very, very similar, you can really deduce what that number is.

Connor MacIvor REMAX Gateway real estate radio SCV (11:25): So then if you only have one comp with a pool, you can look at the other ones, deduce that let's say it is $50,000.

That's the difference in what these others sold for. They didn't have them and the ones with them. Then you can do those subtractions and you can match up subject property very well.

That's how good agents do it. That's how that process works. And then they send you this report. That's going to give you the information that really you seek, and it's going to help you make better decisions when it comes to offering.

Now, today, those better decisions, realistically, aren't where comp value is, but at least you go in knowing what the property's worth. So if it comes down to the highest and best strategy or scenario, which is typical because as I was going to continue with, so properties are released a week as coming soon.

Connor MacIvor REMAX Gateway real estate radio SCV (12:12): Then the following

Thursday, typically they become active and they say the first showings are going to happen Friday, Saturday, Sunday, and Monday. And those shows are typically between nine and six. All of them are by appointment. Only all of them require them.

COVID documentation to be sent. And you have to read through this and sign that COVID documentation has to do with whether you've been exposed. You know, anybody that has been exposed to travel around people that have been exposed. So all of this stuff.

So as long as everything's, no, then you move forward with a showing. It's just basically making you aware that, you know, walking into a closed environment, isn't, you know, super safe with regard to viruses and such. So what you do after you fill that out, then there's other, yeah. Things that have to be done that pre-approval letters.

Connor MacIvor REMAX Gateway real estate radio SCV (13:00): If in fact, the agent is going to be strict and also that proof of funds, if the agent's going to be struck, that has to be sent over and then the properties are scheduled to be shown and we go look.

So that's usually what happens over a weekend, over a weekend. Typically seller's going to get multiple offers, several offers at least. And a good agent is going to counter back the highest of those offers.

And the best of those offers, maybe a handful, maybe the top three, because if an agent's good and doing really what they're supposed to, they're going to be countering specific to each of those offers instead of just blanket countering all of them, because some of those buyers, and this is a newbie mistake, some of the buyers might have put in there, had their agents put in there. They want certain items.

Connor MacIvor REMAX Gateway real estate radio SCV (13:47): I E like the refrigerator and let's say the refrigerator isn't staying.

Then the agent has to write a specific counter stating, you know, buyer to exclude the refrigerator from their offer.

It's not included in the, with the home. So there's going to take it, something of that nature, maybe not as wordy, but you understand the process.

So now they have to counter them specifically a blanket counter doesn't really help because it doesn't address that unless they want to put everything.

The top five mentioned that they want, that might be fangs, that the seller wants to keep putting all of those in there, I suppose that would work, but it's kind of lazy.

It's a little low-brown suggestion that has always worked with people that don't cut corners and give you full service all the way.

Now in this particular market, there are, there is a lot of frustration. Connor MacIvor REMAX Gateway real estate radio SCV (14:37):

Buyers are very bothered that they're searching for real estate. And they always asked me, where should we be searching? Should we be searching at our maximum amount? Or should we come down 40 or $50,000 just in case to be completely Frank, both of those strategies are fine, but in some cases, as we've seen, you know, kind of, uh, not very rare that people will still get properties, that list.

So it's really hard to say there's a lot of other information that needs to be obtained. And sometimes that information is not obtained easily if not obtained at all. So you kind of have to go in there very strong and then have an agent that's willing to step up and try to squeeze a counter out of the other agent.

And typically if you have a good agent that's productive, this other is going to definitely want to counter, even if maybe they're not in the top three, just because they realize that at some point there, the role might be on the foot and the shoe might be on the other foot and they might want to count for one of their buyers.

Connor MacIvor REMAX Gateway real estate radio SCV (15:50):

So this is something to look at when you are hiring an agent. And I know everybody's going to tell you they're the best in the business, best in the world, and best that's ever lived. But at the end of the day, I think you can sit down and kind of deduce how they are. Look them up online. Kind of see what those reviews are,

I not a big fan of Yelp, but it is what it is. You know, have a look at that, see what you think, you know, and I'll still look at things in that regard. Look at Google reviews, kind of see where they are. I think a lot of people that don't like Yelp go to Google, but you can see all of that.

And then maybe they have a website with reviews too. Maybe they have three, you know, mom, dad, and some cousins somewhere. Connor MacIvor REMAX Gateway real estate radio SCV (16:26): But at the end of the day, at least you kind of get a better idea. And the interview is really important as well.

I would do it over the camera, over some kind of FaceTime or zoom, so you can see their face and their reactions to the questions you pose. How long have you been in the business? How many homes did you sell last year? How many buyers have you represented in your career?

Approximately how many sellers do you consider yourself a buyers agent and why it may be, you're just a seller's agent and why should I use you as, as a buyer's agent? You know, there are lots of questions. Do you know anything about financing? Do you know anything about loans?

These things are important too, because if you do have a real estate agent that is savvy and real estate loans and lending, then when you go and you get that loan through somebody he knows or someone else he's able to at least, or she's able to at least say, you know what, this is a great deal.

Connor MacIvor REMAX Gateway real estate radio SCV (17:18): Or, you know, if this is a horrible deal, this is, you know, something that usually doesn't happen to.

This is something that happens all the time. At least that gives you an extra layer of protection. So that's not a bad practice. If you happen to find somebody that does also function or has functioned maybe in the past, in the loan arena.

And we do that as well here at Santa Clarita, home experts, I'm Connor MacGyver with re max and Santa Clarita home experts. I hope your weekends, fantastic. Memorial day weekend. We're coming up here beginning of June 2021.

When you're ready to reach out to me. And before that, you can check out our blog at Santa Clarita, home experts.com forward slash blog. Be careful what you read online, what you digest, and I'm not talking about, um, religious or sins or any of that stuff.

Connor MacIvor REMAX Gateway real estate radio SCV (18:09): I'm talking more about real estate because there's a lot of websites out there that are S slanting or being self-interested in the content they produce.

And they put it out there in order to influence some kind of a buying or selling decision, whatever their method may be, know that we're coming up on the end of forbearance, the end of June. So in 30 something days, very close to it.

We're going to be the forbearance is going to stop. So these people that haven't made a payment because of COVID and hardship, they're going to be forced to make their payment. First, to July, there are a couple of questions still floating around, out there with regard to how they're going to make up that year or 18 months' worth of a payment to their bank. Probably not going to be called all at once.

They're probably not going to say that, um, you know, you have to, you have to catch up right away, or we're going to foreclose that will throw the market into a downhill spiral. Connor MacIvor REMAX Gateway real estate radio SCV (19:12): For sure.

I think that they're probably going to develop some kind of an escrow account tack on what they owe to the end, or just hold it in abeyance. And if in fact they ever sold the property, that amount would come to do whatever it may be to the bank. So there are certain ways I also don't know. And I'll leave you with this.

If you are in forbearance, I don't know what that's going to look like with regard to your credit, because I believe on the credit states, a person's in forbearance, but I don't know if that goes away. When you start making your payments July 1st, and it goes into some kind of an escrow account, or if it's a more difficult process, I am Connor never.

It is always a pleasure. I do appreciate you. Thank you so much for tuning in, and we will talk to you soon, Connor McCarver, over and out.