Transcription. It may be a bit rough - listen to today's show for the real deal :)
Santa Clarita home experts: 00:00 Good day everybody. Connor MacGyver. Welcome to today's real estate radio broadcast center, Clarita home experts.com local agent headquartered in Santa Clarita Valley, California. Of course, that's a home of six flags, magic mountain, longest-running real estate radio show and podcast here for the sound of creative Valley cities all the way acting through Valencia act and awkward. All say cast eight Canyon country, Newhall. Saugus Valencia Stevenson ranch, of course, to round out the cities. Now here in the local market as we close out, September 2019 we do have our newsletter available online. Go to Santa Clarita, home experts.com click on the blog at the top, or if you want to go directly to the URL, you can go Santa Clara to home experts.com forward slash blog and you will see the latest article. Just scroll down and you'll actually see the newsletter that we put out and they were going to. We're going to be mailing here for October of 2019 local market here in Santa Clarita Valley has slowed down quite a bit since fall started.
Santa Clarita home experts: 01:02 And of course, even before that, we noticed a slowdown about mid-July 2019 and that is literally a, because the biggest, biggest culprit school starting back, right? So that's a yearly occurrence and it's very, very common in our local market to have the market slow down just a little bit because the people that we're looking for residential real estate or to move or to sell or to buy did it because they have dependent kids that are, uh, they're trying to get placed in better schools or different schools are moving to those areas. Some of those moves, uh, people that were moving during that time as well, they had an objective to make it so that their kids would not be so cramped in the house, right? Expanding families, those sorts of things. So he saw all of this, we saw the market start to change and then low and behold you had a lowering of interest rates and you're like, well Connor, wouldn't that have kicked the market off?
Santa Clarita home experts: 02:02 You would have thought that would have changed the market quite a bit and started at moving forward at a much faster pace. It did not. What that did though is that totally overran the lenders of the world. A lot of the banks that owned a lot of paper, lawn and mortgages, a lot of mortgage notes, they started to slow down as well with the origination type loans. These are people buying houses for the first time. That's what an origination type loan is. They were all overwhelmed with refinancing. So the people had a particular higher interest rate. The rates were reduced as they still are very, very low. Uh, just over three today, 3%, and they started a refinance. So we started seeing all this refinancing happen and then we started to see other things change with the exception of houses selling at a faster pace.
Santa Clarita home experts: 02:56 So currently today we still have very low inventory, but the stuff really isn't moving as fast as we thought it would. You can judge this as a regular consumer by driving around and seeing all the open house signs during a weekend, you'll know that stuff isn't moving. So one of the things that I want to bring up today is regarding open houses. A lot of sellers say, well, you know, are they safe? It's gonna really depend on the agent doing the open house, how well they're, they're able to keep track. In addition, as a homeowner, you have the right to have cameras put in. There's a lot of houses we go into when I'm showing our buyers that are loaded with cameras, cameras in every room, cameras mounted on the interior walls and the ceiling and they're not expensive anymore. Uh, well for all reasonable terms, they're not expensive.
Santa Clarita home experts: 03:47 We do have some cameras that are available. You get two for under $100 and depending on your price point and you're your livelihood, maybe that is too much or too expensive. But realistically it's definitely a lot cheaper than it ever has been. So you can go out and get some cameras. There are wifi enabled, you can then download an app. We have rain cameras, uh, that we have that we put up and we go on vacation. We'll stack those in different areas of the house just to monitor and we'll see movement whenever we're away. Who knows if that's a ghost or some kind of an anomaly has to be disclosed. Just throw that out there. If it is, it goes, but to come back to a more real, more real conversation, get those cameras and if you're going to put your house on the market then you can monitor people and that includes in an open house it doesn't hurt.
Santa Clarita home experts: 04:35 And in some of the boards that were members of like gray around a low Valley board, there is a question on there if there is an internal camera, some kind of monitoring within the residence. It's a required field. I would imagine. Southland regional, the mainboard that we're members of that goes all through LA County, Ventura County and so on. I'm sure that'll be required information here. Probably when they changed their site or the algorithm for the information put in. Currently, it's not, but I always tell my buyers when we go into a residence, just be where there could be cameras. Usually, it starts at the front. You'll see them in the eaves. Maybe you'll see a mounted on the outside of the residence. You'll see 'em maybe in a, in the form of a ring doorbell, just you know, best behavior, right? Or nobody's gonna go into that.
Santa Clarita home experts: 05:21 I'm representing to steal from someone, but when it comes to an open house, there are predators. There are people out there that primarily use open houses to go in and cause people's residences. And when the agent's tied up with other people to start looking in their personal spaces inside dressers, and when you're buying a house, folks, no buyer has any purpose to go inside somebody's stressor. They might open up a closet door to see the depth of the closet, but usually, you can see that back wall for them to start rooting through the bottom of the closet. Maybe looking for the rifle wrapped in a blanket in a corner because you don't have a safe or a safe doesn't exist. Now, these are all people that are looking to do stuff. If you have medicine cabinets, again, you have though residents installed in bathrooms and you actually put prescription medication in there.
Santa Clarita home experts: 06:16 You got to get rid of it. If you have changed drawers, maybe on your nightstand where you put your Rolex or your watches or whatever. Again, these things are definitely it. You have to watch out for that. Even during a normal showing. Not that the people agents are taking in or criminals, but just don't have it there. I would definitely recommend those items to be hidden out of public view and out of public reach. We have some of our clients have rifles and weapons. Definitely just get them out of the house, take them over to somebody else's residence, lock them up in somebody else's safe. If you don't have one, just best protect yourself with open houses. A lot of times people are asked to sign in and that's kind of a turnoff to a lot of the people out there because they might already be represented by someone.
Santa Clarita home experts: 07:10 Maybe they're just out looking on their own, but they do have an agent. This happens quite frequently and most of the agents hosting open houses understand that, but to get everybody to sign in in that regard is going to be difficult. Getting everybody to sign in with their true information's going to be hard, so understand when you're going into an open house, if you're asked to sign in again, a lot of people might give a fake name, fake email or say we're, we're to represented anyway and not going to sign it, so that's not a way to protect yourself either. You have to look at the statistics. 7% I believe it's very, very low. I think the last national statistic was 7% of the homes held during an open house actually sold to somebody that was viewing the house while it was open. Then the next question asks, what would that same person have also bought the house?
Santa Clarita home experts: 08:03 If they would have viewed it privately through an agent, I would bet you dollars to donuts. Yes, they would. We're talking hundreds of thousands of dollars to be spent. I doubt that these people are going to only reserve their purchase during open houses and again, utilizing the agent representing the seller or their own buyer's agent. That's also another part that we can put into that equation. More than likely they're going to have their own because of dual agency and some of those issues that come up during that icon or MacGyver IVR. If you want the rest of the story, we do have a massive real estate blog, Santa Clarita, home experts.com forward slash blog you'll see all of the news and articles. You'll also see that newsletter I about at the beginning of today's show, real estate is ultra-low with regard to interest rates, a price points we are above and most cases above the last cycle prior to the fall in 2007 so those prices are in that range, but that's how real estate works.
Santa Clarita home experts: 09:18 You fast forward 30 years from now, I'm sure residential real estate that you can now buy single-family homes in the half a million-dollar price range, which back 30 years ago were a lot less than that. I'm sure 30 years in the future they will be a lot more than that. So real estate works that way. I'm Connor MacGyver. It is a good bet. Reach out. We do have people that come and sit down with us and our offices, real offices, not cloud offices and we sit down and we discuss the whole real estate process from beginning to end. And what I like to do as I close out today's show, I like everybody to sit down and we approach it as if they are going to start building their real estate per foot portfolio, which they really are. We look at everything as investments.
Santa Clarita home experts: 10:09 We want you to be able to retain the real estate should by including that very first residential purchase to live in and we look at that as if that's going to be your Keystone. That's going to be that cornerstone, that property that's going to start off your real estate investment future and that one's going to be the number one property in your portfolio. If you are a first-time buyer, if you've bought many houses before, sold many houses before and so on, that still gives us an opportunity to speak with you. You have a little bit more experience and then we also start you with your portfolio. The perfect place to be in real estate. As I tried to explain to my clients, the perfect place to be would be to retain every real estate purchase you make if possible. Looking at it from an investment standpoint where you would be buying that number one property and renting it out.
Santa Clarita home experts: 11:04 When you get ready to move using some of that equity that that property is attained as leverage or saving another way and keeping that original mortgage intact that's covered by that tenant that you get in that property and then stepping up to the next and the next and so on. Maybe do this on a three to five-year cycle depending on the market and always be looking for those deals including those flips and those properties that our investor's dreams and they do exist. They're just a lot harder to find than they were when we had a plethora of real estate inventory. I'm Connor MacGyver, Santa Clara home experts.com it has been my pleasure to speak with you today. Please check us out online. If you want to get directly to the radio component of our show, it's in all the margins of Santa Clarita, home experts.com. You'll see the player there with a pretty played button. You can list to the latest episode and archived episodes as well. You can also check out housing radio.com please tell a friend when you're ready. I will be here for you. I am Conor with honor. Oh, you should check out Conner with honor.com check out that video. Fuck talking about five pounds. I love you very much. We'll talk to you soon. It'd be safe, Connor McIver over now.