FED had a calming effect California real estate radio - PDF File of Transcript to the California real estate radio show.

Connor MacIvor: 00:01 Good. Everybody. Connor Macivor here. Welcome to California real estate radio. We do have a new address today. We're going to talk about the Fed. We're going to talk about that meeting last week as its impact on real estate, and then we're going to move through the entire state here of California because I love the whole thing from beginning to end, all the way up from there. Pelican beach up there, up north on the coast and all the way down to of course El Centro and beyond a great state of California, lots of local agents, and I am here to serve you. We're headquartered just north of Los Angeles and Santa Clarita Valley, but this is going to be your overview of California real estate statewide. So if you're interested in anything that has to do with real estate in southern California, please make sure that you check us out. Of course.

Connor MacIvor: 00:49 Now we're going to take a quick break. Let's say California is your thing. It's the state do you want to live in? Maybe you're already here, maybe are wanting to come to California. Where do you start? Well, you get online. Maybe you want to buy a house. Maybe you want to rent a house. You're looking to do something involving real estate. Well, you're going to need a place to live. So you started looking online. There's a lot of channels out there. Best agent. We promise to find the top, the top agents in your network, the the best of, the best of the best, sir, and all of that.

Speaker 2: 01:18 These other things. I'm local in Santa Clarita Valley. I have a syndicated radio show called California real estate radio asked me, you're looking for properties in Modesto. You live there. You want to sell your house, you want to buy a house, you want something up north in Sacramento. You're looking for something in San Diego. Maybe you're thinking San Francisco, maybe I think in Los Angeles, Orange County, Kern county, anywhere else in the state of California housing radio.com go to housing, radio.com fill out the form. Tell me what you're looking for. And I will find you an agent that describes to the same code of conduct and has the same mission statement principles that I do. And Ladies and gentlemen, they're good. I've gone you go to housing radio.com I'll find that referral for you. If I already know somebody, have somebody in my network, great, and they're not going to all be remax agents where I'm affiliated. That's my bro because in essence there are some agents that are the brokerages that are very competent and fantastic at what they do, so I'm looking for that best individual agent that I'll connect with you anywhere in California. Just let me know.

Connor MacIvor: 02:31 Housing radio.com I am Connor with honor and I'll take great care of you. That's it. It's simple. The hunting is over.

Speaker 3: 02:40 Okay.

Connor MacIvor: 02:41 Welcome back everybody. Connor MacIvor. We're going to talk about some numbers here for localities here in southern California and Northern California. Give some median listing prices. We'll talk about some of the most expensive places to live and then of course we'll come down and talk about the other areas. So Los Angeles County currently has a median listing price of $649,000 that's going to equate to a price per square foot of about four 19 30,330 excuse me, 30,341 homes for sale and for rent. 96 93 moving into areas further south looking at San Diego County, 599 point $9,000 is their median listing price. $372 for their price per square foot. Homes for sale, 88 51 and 3,469 homes that happened to be currently for rent. Now looking at these different areas, we're going to move through to San Jose and you can see a big change in the market from Los Angeles, even Orange County to San Jose, a much denser area, $948,000 is there a median listing price, price, price per square foot, 631 in these areas.

Connor MacIvor: 03:58 If there are properties that you're interested in. If you're interested in any real estate in southern California, we definitely have a local place for you to go. All you have to do is go to housing radio.com enter your information. I'll be able to find for you the best agent to serve your real estate or lending needs very simply housing, radio.com Sacramento comes a little bit lower as far as median listing price, $329,000 this week. Price per square foot, 221 and currently in Sacramento we're looking at 2,630 homes currently for sale and 492 homes for rent. This is your update for May 7th, 2019 your weekly California real estate radio broadcast. If you go to California real estate radio.com you'll be able to see all of the other information pertaining to radio shows and the other archival shows that we've put together. Now in the past we've been using soundcloud and you'll be able to see that player on that particular page.

Connor MacIvor: 04:58 But I've also moved into buzzsprout, which is a great podcasting platform, so you'll have to check off those shows as well. But they all run together. I will keep up soundcloud till the end of time because that's where majority of my work with southern California real estate and California real estate radio has been. And now we're moving to a new platform. So you're going to see all the older shows there as well so you can archive and check them out. So let's take a quick commercial break and the won't jump into the Fed update and some other excellent housing news that will keep you safe.

Speaker 4: 05:30 Foreclosures and bank owned properties. People think they are the best deals in the world, but are they good to everybody? I am Connor MacIvor and I will tell you that it depends on the trajectory of the real estate and housing market. If the market seems to be getting more expensive, the banks are going to be pricing these properties at 90 day in the future. Estimates of value. So if we're going up every single month and have been for a while, the price that foreclosure when it enters the market could be more expensive than the current real estate that happens to be out there foreclosures have a lot of different sources, bank, hedge funds, investment groups, just regular people. They could actually have a foreclosure in their possession that they've taken back from maybe a seller wanting to finance property for a particular buyer. So these properties come on and identifying that property source is going to be very telling when it comes to finding out their pricing strategy and their negotiation methods further down road.

Speaker 4: 06:32 The one thing that we say is when you are looking online, be wary of all the places out there that are promising you to give you these best lists and these top properties, the best foreclosure properties and also get on the email. What tends to happen is your personal information is now sold and traded to a lot of agents that are willing to pay for it and other entities as well. So when you are searching, looking at foreclosures and vacant properties and if that's what you really want, you want to make sure you have a trusted advisor in your corner, that local realtor that's going to be able to best watch out for you. If you're in Santa Clarita, greater Los Angeles, Great. You're listening to him contact Connor MacIvor. But if you're somewhere else in California, anywhere in the state, all the way from Pelican beach down to El Central California, go to housing, radio.com housing radio.com fill out the form and I will hunt for that foreclosure agent that does it like I do it and does it like I do it. Yes, that's correct and I will take great here. Thanks for listening. Be Safe.

Connor MacIvor: 07:38 Welcome back everybody. Let's get into this fed update for the Fed meeting that happened this last week at the beginning of May and when they, when the Fed mad, there was rumor out there that interest rates were going to go up and if you don't know that much about interest rates may be your first time buyer or you're looking at the California real estate market as a whole. If you are a buyer that's qualifying at half a million dollars, that's $500,000 and the interest rates fluctuate half a point 0.5% or half a point. That's the same just in different format. Once it does change that amount, you're looking at a $50,000 impact. If interest rates come down half a point, you're now qualified it, let's say about five 50 if they happen to increase half a point, now your qualification amount is going to be closer to four 50 so if you understand how that dynamic works, when the Fed met, people were concerned that they were going to increase interest rates, they did not.

Connor MacIvor: 08:40 So what had happened was interest rates stayed the same and then we saw some small waves of fluctuation. So interest rates are right now four and a quarter, four and a half. It's going to depend on fico score. It's going to also depend on the lender that you're using. Some lenders are able to eat down those interest rates a little bit more than others, but it depends, just do yourselves a favor. Don't fall into that game where they start raising those interest rates on your building. All those junk fees, and I'll have a have, do have a commercial that will be coming up that'll talk about loans on lending. Then we'll also talk a little bit about foreclosures and how to do those searches. So be back in just a couple seconds and we'll talk about some of those real estate tips that really, really matter.

Speaker 2: 09:30 Do you like limiting your options? Do you like closing doors that otherwise could stay open to give you better advantage? Of course you don't, but the things that they don't tell you in real estate could hurt you. So Doris, truly Connor MacGyver's going to tell you something very useful. This has to do with open houses and new houses. You've seen those new builder communities all over here in California, different areas. You walk in there, they're all beautiful. You want to go look at the models, you're excited. The price point seems good. Everything seems to make sense. I mean realistically they smell like they smell like new cars, just wonderful places and the people in there, they're great too. Those are all representatives of the new home builder. They hire these agents, pay him salary, give him medical, the whole nine yards to represent the builders best interest you by going in by innocently being asked to register. Put your name down, put down an email address. Hey, make sure you check in before you go look at the models. By doing that you have just made it so you cannot at no cost to you. You cannot have your own real estate representative on your side.

Speaker 2: 10:43 My suggestions this before you go to new housing, have your agent with you. If you don't have an agent in California, I have an awesome referral network and I will find you an agent that will ask those 20 plus questions I do to the new home builders representative in front of my clients to make sure that it's something that my clients should be entertaining and should purchase after they answer these questions. There's no doubt in their mind whether or not they should or shouldn't proceed with purchasing new housing period. So you go to housing, radio.com housing radio.com fill out the form. If you're looking for a referral for a new housing agent in whatever city in California, I will refer if you're in Santa Clarita, greater Los Angeles, I'm your contact, but fill out the form and you'll be taken care of with regard to open houses. Same rules could apply in depending on the market. When you go in, just don't give up any of your personal information. Stay as the spire, mold, no information. And if you must give information, put down Conner MCI and put down my email address, connor@scv.com

Connor MacIvor: 11:54 it's all good in the hood. Be Safe and watch out for yourselves. Thanks for coming back. One of the things that people look at when they're online, when they're looking for housing, new housing, open housing, is they're constantly searching on these different platforms and at some point some of these websites ask people to give up who they are. Once you do that, you're more than likely going to be spammed and all your personal information is going to be sold and traded. All these different entities out there, once you give up an email address, it's very, very dangerous. So what I tell our clients when they come into our office, and this is anything that's in California looking for real estate, there should be websites out there. realtor.com is one you'll be able to search, you know, with anonymity after you've searched on their platform for a while and you're interested and you've got to kind of hone down to a particular area.

Connor MacIvor: 12:46 Then I have to do is go to housing radio.com reach out to me and I'll be happy to run the interference and find an agent that has the same code and the core values and mission statement, uh, tributes that we do here in Santa Clarita California. Can't go to Sacramento. I could but it's just way too far. But I have great agents located there. San Diego, San Jose, Sacramento, like I said, Bakersfield, Orange County, San Diego, it's all good. All you have to do, housing, radio.com fill out the form and we'll take great care of you. Now back to the Fed meeting, there was a lot of scare tactics out there that people were using. Oh my gosh, interest rates are going to go up. Realistically Right now in all of California. Inventory isn't great. What that means is that brings us back and we are pretty much knee deep in a seller's real estate market.

Connor MacIvor: 13:36 So if you're out there looking for real estate as a home buyer right now isn't the best time. However, the question is what's, what's the future going to reveal? And those are, these are all the unknowns out there because interest rates weren't raised this time doesn't mean they're not going to go up next time, so that little interest rate, if it does go up, if it does hike up a little bit, that could then cut into what's known as your affordability factor. It could be that now you don't qualify for a single family residence because you were just on the cusp anyway and now you need to purchase a town home or a condominium, which those are fine as well, but maybe it's going to take a little bit of a paradigm shift on your end to see if in fact you still want to proceed with the purchase of real estate.

Connor MacIvor: 14:19 The way that I explained it to my clients and the way that you should look at it, no matter the market. If you're going in and you're able to purchase real estate and you're able to have a 30 year fixed rate, a nice 30 year fixed mortgage, not an adjustable, and you're able to have a little bit of equity starting off the process and you're not dependent on over time or future wage increases with your employer, then you're good. You should be fine because you can make that mortgage payment no matter what God forbid some massive problem in life, losing your job, death, divorce, disease, all of those things. Putting all those aside, if you can afford your payment at that current, the property, the taxes, the insurance, the payment, all of those items, you can afford it and you're just dependent on your base salary to do that and you still have money left over to make some car payments or take the kids to Disneyland or take yourself to Disneyland or whatever it may be.

Connor MacIvor: 15:21 Then you're golden, so then you don't have to be concerned. Also don't forget there's a mortgage deduction that you get that interest that you're paying on your mortgage, that you get to write off on your taxes. Make sure you talk to your CPA or whomever does your taxes to make sure that this applies to you. But I know we take advantage in our lives of that Paris and I do. And I know a lot of other people that do the same. So all you need to do is just check and make sure that applies. I don't see why it wouldn't. But again, I'm not a CPA and some people may be you don't have enough taxable income. May Be cause you can't get back more than you're paying in. So it's going to depend on your deductions and those other things that are involved. But real estate in California is wonderful.

Connor MacIvor: 16:09 We've been all over this state. It's been a fantastic place for us to live. It's been a great place for me to raise children. And I'm here. I'm here. Ladies and gentlemen, California real estate radio. Make sure you check out the show notes. I will have the show transcribed. There's, uh, some commercials within the mix and we're very, very happy to be able to present this to you. Please tell a friend if you are looking for a guest spot here on the radio show, California real estate radio.com please feel free to reach out. All you have to do is go to housing, radio.com fill out the form and whether you're an agent from some of their place in the state or a lender or whatever, I'll be more than happy to talk to you about potentially getting you on the show. Of course, at no cost to you. And we'll do the interview. I'm Connor macgyver with California real estate radio.com. It is my pleasure. Please check us out on stitcher and iTunes and all the other places that bus sprout has a syndicated too and I'm excited. Thank you so much for listening. We will be back next week with a brand new real estate radio show, the latest in real estate in California. Be Safe. God bless

Speaker 2: 17:20 you. Want to talk about something that's on your mind? Are you a real estate professional that's in real estate in some way, shape or form? You want to come as a guest on our show, California real estate radio. I'd be happy to have you. We just need to connect. So to start that process, if you want to talk about loans and lending, if you want to talk about what is it you do differently, if you're a local agent in Modesto or Pelican Bay or Sacramento or San Francisco or San Diego or Chula Vista, whatever it is, reach out. We'll get to know each other. I'll get you on the network and we will have you as a guest on my show, California real estate radio, and we'll talk about what drives you, what your protective method is, how you secure your client's future, how you work, which is very important.

Speaker 2: 18:11 So all you have to go to housing, radio.com housing radio.com fill out the form. It'll be sent right to me. Yours truly, Connor t MacIvor. C A L D R E 01238257 and I will be in contact with you. I would love to talk to you. I think the interview process is fantastic for radio. We have this great podcast where syndicated and I think it would be great for you and for me for the both of bus, have a great day. Housing, radio.com fill out the form. Say you're interested in being a guest and we'll take it from there. Be Safe. Did you realize that you are paying your lender to get you a loan to get you a residential home mortgage? You're actually paying them. It's what's called closing costs and a lot of people miss this part in real estate because it's not explained.

Speaker 2: 19:00 Three items make up a buyer's closing costs. You're part of title insurance, that fee you're part of the escrow fee and then your lenders fee title and escrow are pretty much set depending on sale price and whatever those options might be, but they run within a particular, uh, within certain parameters. But the lender fee a little bit more of a wildcard. You want to know what fees on there are the fees that you should be paying and what fees on that sheet are known as junk fees. In order to figure this out, you need to hire a real estate agent that understands the loan process and then has people that you can speak to that can also explain those fees so you know that you're not taken advantage of. I've seen fees, very, very large fees for Federal Express, for example, within a particular lenders fee chart and nothing was fedexed.

Speaker 2: 19:57 So that's extra. That's junk. You don't want to pay it. So what you need to do is hire an agent that knows what they're doing within the loan and lending category and also refer you to those lenders that they hold most dear, the ones that don't take advantage of their clients in order to do this. If you're in greater Los Angeles, Santa Clarita Valley, I'm your guy. But if you're anywhere outside the rest of the state of California and you're a listener of California real estate radio.com, please go to housing radio.com and fill out the form and say, tell me, hey Connor, I'm looking for a lender and give me the city you're in, and I will find somebody that fits my bill and that I would use personally to give me a loan on my residential real estate. Thanks for listening.