The latest real estate radio show talking about the Santa Clarita real estate market this week - February 4th, 2019. Enjoy the show and I have placed the 'rough' transcription below.
REMAX gateway: 00:00 Good everybody. Let's get into the local real estate market here in just a moment. We'll talk about what's going on, the happenings and what you should be looking for if you're considering buying or selling here as we get into the week of February, fourth, 2019. I'm your host, Conor MacIvor, Connor with honor local real estate agent headquartered here in the Santa Clarita Valley, serving greater Los Angeles cities. We do have access points for all of the multiple listing services here in southern California, and that's going to be SCVnest.com. So if you are searching online for homes and real estate, make sure that you check out our site and I will tell you it took a lot to get it up and running just for the simple reason. Unlike Zillow and Trulia, I'm the real thing. I am a real live realtor and I have. There's a checks and balances. There are rules and regulations for me to publicize the real listings.
REMAX gateway: 00:59 They have a workaround method sometimes. I know we get a lot of calls from clients. How about this property have at that property and I have to tell him the other day that probably is not even for sale, but I found it on Zillow. I said, I know. I know you did, but it's not for sale. It just looks like it is. Lots of that going on. You want to escape all that and just look at real stuff. ScvNest Dot Com. Besides, I don't want to sell your stuff. I want to be your realtor. I want to be your go-to agent, so if you do go to Scvnest.com. Do some searching. Eventually it's going to ask you to save your listings and set you up on a search by of course, your parameters before you can proceed. The person that sees your personal information is me.
remax gateway: 01:48 That's it. I don't trade it. I don't sell it, I don't send it. I don't compromise it in any way. It stays within my SSL encrypted database. That's it. So when you're ready, then you say, hey Connor, I'm all set. Let's give it a start and the start will be, we'll do the crash course on real estate. I'll explain to you how it all works, whether you're buying or selling, even if you've done it before, how the market's changed, and then we'll get into the rest of the people in those questions that you should be asking those people, those service providers regarding real estate and what they're going to do for you to make sure that you're well covered and those questions are going to also involve asking for the best deal you could possibly get. Why not? You should get that deal. In fact, anybody you go to that's a professional service provider should always do their best service and handle you with the utmost care.
remax gateway: 02:52 The most important thing for me is that my clients, my real estate clients are protected and served very well throughout the entire process before months, years, maybe before, during, and of course after. So when that first point of contact comes. Alright, so let's get into the listings. This last week here in Santa Clarita Valley, including the cities of Castaic. canyon country Newhall, Saugus Stevenson ranch and Valencia act an awkward, I'll say in the mix as well. Seventy one new listings hit the market. Fifty nine properties had their prices changed. We see that as an upward trend from only a couple of weeks ago where those price changes weren't much, but also we were right in the middle of the holidays at that point. I'm sorry, a month and a couple of weeks ago, so six weeks ago or so back on market properties 18. These are properties that were in escrow and fell out.
remax gateway: 03:43 Now they're back on the market. That's why that's a big reason why it's so important to set yourself up with a search account at Scvnest.com. You're searching for homes. You find a neighborhood that you just love and you have that search set up for that particular neighborhood. Then all of a sudden you see that property that you originally got in there, you see it's an escrow. Well, maybe you miss it. Maybe you're too busy. Maybe a lot of stuff going on. If you were to have that search set up, when that property goes back on the market or even as its prices changed, its price changed, you're going to get that notification in your email right away and then you'll know you reach out to Connor what's going on and this one, it looks like it's back, and I said yes back. It's falling out of escrow.
remax gateway: 04:32 The next natural question that comes in, well, why? There must be something wrong with it. You know, I'll tell you a majority of the time it has to do with buyer financing. That's number one reason homes fall out of escrow. Buyer financing. It's not that the property had an issue where the buyer was enabled to attain a loan for that particular property. It is the fact that something with the buyers financing went awry, something went wrong. Maybe they didn't get enough verification. Maybe they called one of those unscrupulous real estate lenders. Then that particular lender said, how much do you make? What's your debts? Are you employed and how long have you been at your job? Is it only you buy the house or you going with your wife? Is she employed? No housewife. Okay. And uh, run the numbers and say, well, you're qualified at 600,000. So the agent runs them out because they believe that qualifications is true. Instead of maybe asking a couple more questions because you know, the, the victim here isn't just the seller is not the only victim. The sellers of course upset and other property has to go back on the market and another buyer has to come along and longer properties are on the market. There's an inclination that may be offered a lower. Just depends with somebody is watching that neighborhood, but you know, that depends. It's a case by case basis,
REMAX gateway: 06:01 but now all of a sudden you know, the buyers also the victim because he wasn't, she wasn't protected by that lender. That lenders should have ran them all the way through the system and had a complete approval before they looked at the first house. Now they've gotten their hopes up, probably spend some money. They probably spent money for an appraisal. They probably spent money for a home inspection on that particular property. Then they get closer and closer and all of a sudden the lender says, oh, looks like we can't get you a loan because you've only been at your job a month or whatever it may be. These are important things to know if you happened to be wanting to buy or sell real estate, there's a lot into it. Alright, so those are the back on market listings. 18 active under contract, 43 listings went into that status. That means basically they went into escrow pending properties going into that status 32, so we're actually still overrunning those new listings on the market. Closed listings 35. These are the sold properties and expired 17, 18 went on hold, seven were withdrawn from the market. Just a word about expired listings of properties in contract. The agent as a six month agreement. If the property doesn't sell by the end of that agreement and the agent and their seller doesn't agree on a new term,
Remax gateway: 07:33 then what ends up happening is this particular property then starts to
remax gateway: 07:40 show expired. Once it shows expired at the end of that contract date, then that particular seller is going to get bombarded by agents that are paying these systems to scrub or scour the Internet to get their personal information. Now they're not going to be pulling up a phone number off of the confidential place in the MLS or wherever from the agent, but they will see that this individual left their phone number somewhere or they trace it back and they get it and they ended up calling that owner and say, and this is all scripted stuff, right? They have these scripts out there for real estate agents. Are you ready to hire the right agent? Well, in some cases they already had the right agent. Maybe they were a little unrealistic. Other price. Maybe they have a particular strategy where they're not in a hurry. Maybe they're waiting until the market turns.
remax gateway: 08:35 Who knows what it may be, but it could be that that agent is there, bee's knees, but those properties that there that's, there's just take longer to sell. I was showing the property and property in Bakersfield yesterday, Superbowl Sunday, and while I was out there is five acres flat right next to the main road to Alfalfa fields, a massive, a garage-type improvement, super high ceilings, all insulated to massive swamp coolers on it to conex boxes sticking out of either side in the bag, made access from the inside to the out. You could park several rvs inside them, a massive roll up door. They have three of those. Then the house itself, just gorgeous, custom built, single story home with everything you could imagine. Really, really pretty, very well done. Four bedroom, four bath. Master shower was remarkable, so you have this home, but at three quarters of a million dollars, a little bit more, seven nineties at that price, in that in the middle of nowhere, it's not around any other homes.
remax gateway: 09:55 Those questions come up so that property is going to take awhile. It's to take a while to sell. It's been on the market honored 80 ish days. It's probably going to take a little bit longer, but ultimately you price something like that for a bucket is going to sell in a minute, right? Of course, the seller wouldn't be able to sell it for a dollar and they wouldn't want to anyway, but the end of the day it comes down to price or waiting long enough until that right buyer comes along because those buyers don't come along as frequently as a buyer that wants to buy in an urban type area. I eat close to the mall, close to shopping, close to entertainment centers, restaurants, that sort of thing. That's a word about expired. Those hold properties that are out there, those 18, those are typically properties that, uh, there's something going on with maybe the seller has changed their mind and now the agent has to work it out.
remax gateway: 10:46 Maybe they have way too many offers to work on and they chose that status, which really isn't the way it's supposed to be. But sometimes this happens. I've caught in a over. Let's get into all of the senate creative valley, 567 listings currently on the market. That data is being pulled from STV nest.com. Don't forget to go there and click on the top. We also put in a new option for you at the top. Click on video or also you can scroll down and see my video. We had this published up here a few days ago. It kind of gives you a little bit of insight into who I am and what I'm about. Moving into the a blog section, we have several pending articles that I've been working on. The last one that we put up had to do with who do you trust and I have a client of ours that we wrote an offer on a house.
remax gateway: 11:41 I've been cast stack and she called me a little panicked saying that her sister told her that you don't own the land under this particular house, which is totally false. We also had another relative call us, call me and tell me that his daughter is offering too much. Well, other people are offering more so that's where that went ended up and there's been a couple of properties lost as a result, but that's fine. I'm here to serve no matter how long it takes, but who you trust and real estate's incredibly important and you want to make sure that you're getting the best advice and people aren't taking advantage of you. I'm confident. That's the real estate market as far as it is now. We are kind of in a little bit of a holding pattern between a buyer's and the seller's market.
remax gateway: 12:36 We're not seeing a lot of inventory come on the market and we're not seeing a lot of inventory sell, but we are seeing in some circumstances that properties are getting multiple offers when they're priced a little bit lower than market and they're very highly desired real estate listings. I'm Connor with HONOR. Have a great, fantastic day. I will talk to you soon. Please share the show housing radio.com. That's an easy way to get to a sub nest. I've come forward slash radio. You'll see it there. Be Safe and we'll talk to you soon. When you're ready, reach out because I'm here for you.
When you are ready I will be here for you and yours. I'm Connor T. MacIvor, and I'm glad to be at your service.