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.