(articles and news scroll down but don't forget to register)

Best Santa Clarita real estate agents and Santa Clarita edge program members

Top Home News - Santa Clarita Valley real estate blog

(articles and news scroll down but don't forget to read this:)

Before doing anything read this very important tip!

By the way, before we meet in person or over the phone remember this tip: Never ever give your real name or any other personal information when viewing an open house or a new construction builder home! Don't sign in with your real name or email, don't join an interest list, don't sign up for updates, or innocently give your name to view the open house or new homes. If you do so I cannot save you the money I speak about when I represent a home buyer when they are buying real estate from me as their Real Estate Agent!

Santa Clarita map and proximity to the City of Los Angeles' San Fernando ValleyMy real estate business is headquartered in the Santa Clarita Valley. The Santa Clarita Valley's southern border is the city of Los Angeles' San Fernando Valley. 

Point Being - I represent buyers and sellers in both areas. I'm Connor MacIvor.

I operate the most complete and longest running blog about Santa Clarita real estate. I am the true local area expert living in the Santa Clarita Valley during and after my LAPD career. I'm all about the protection and service to both my home buyers and Santa Clarita home sellers. The biggest compliment that any client of mine can give is by way of them referring their family, friends and those whom they know want to buy or sell real estate. I'm honored in each instance. Our business operates primarily by referral. 

First and foremost, my real estate representation method is teaching. I'm not teaching my home buyers and sellers on how to be real estate agents. I'm teaching them how to be best protected when it comes to buying and selling real estate. 

The best way to do this is by our in-person meetings which are done in my offices, over the phone, or by remote meetings conducted with my Zoom Affiliation. I was the first agent to employ a podcast/radio show in my housing market updates. I was also the first agent to conduct seminars online with many participants where questions could be asked and where the best solutions to actual real estate problems could be discovered. I have had up to 50 live participants in my seminars within the online realm and mandate that my home buyers and home sellers become educated in one of my many processes.

Buying a home is not like buying a pair of shoes. There are a lot more moving parts and the price point is much larger. 

Anything that takes 30 years to pay off, typically, needs to be approached with care and concern. Making a mistake with real estate is expensive and some never are able to recover.

Take the last real estate cycle. There were a lot of home buyers that jumped in without testing the waters. If you did so during the later part of 2011 and in the 1st quarter of 2012 - your jumping in was the best thing you could have done. 

That is because during that time that was the low part of the real estate market. Between the fall of housing in 2007 and the current date, the last absolute low point in the Los Angeles Areas was last quarter 2011 and the first quarter of 2012.

I approach real estate with my clients with knowledge and experience. I know that most home buyers take the word for what they read online, no matter the source. If the source has a large well-advertised name, most take the information conveyed as the word of a higher power.

If you are interested in your best future with real estate, do not do that. Call me directly at 661.400.1720

July 9, 2020

Saugus CA real estate update by the Santa Clarita home experts July 9, 2020

Good day everyone, this is your weekly Saugus CA real estate update. If you are wanting to watch my real estate update video with our latest Santa Clarita real estate news for this week, <--- click here

Let me break down the Saugus CA real estate numbers so you can see what is currently happening in real estate. I will cover in my below dissertation the activity and new home centers so you have an idea of what is happening in that venue. I will also choose this time to remind you that we represent our clients with the purchase of new homes at no cost to our clients, but with giving them many benefits, including discounts and or credits!

Saugus real estate experts in California

During my weekly Saugus CA real estate update I will give tips to help both home sellers who are contemplating selling and also the Saugus CA real estate buyers to help them on their home buying quest.

View all Saugus CA homes for sale now

Coming soon real estate listings in Saugus:  4 properties - Susan Beth Way, Los Tigres Drive, Newbird Drive, and Candela Drive.

Numbers of Saugus homes on the market for sale:

Saugus real estate inventory Total: 56 total listings for sale in Saugus CA

Saugus Single-Family homes for sale: 49 of the 56 homes for sale in Saugus are Single Family residences.

Condos for sale in Saugus CA: 4 of the 56 homes for sale in Saugus are Condominiums.

Townhomes Currently for Sale in Saugus: 3 of the 56 homes for sale in Saugus CA currently are Town-homes.

The number of Saugus homes in escrow: 145 real estate listings are currently in escrow in Saugus CA. that is split between homes that are showing as "active" under contract and those which are not showing on the real estate syndication websites - as they are in the Pending status.

Make sure that your agent is keeping track of the Saugus homes that are currently in escrow, just in case one falters and falls out of escrow that fits your needs. I do this for my Saugus CA home buyers.

Saugus real estate listing in escrow Total: 145.

Single-Family Homes in Escrow in Saugus: 113 of the 145 homes in escrow in Saugus are Single Family in their configuration.

Saugus Condos currently in escrow: 17 of the homes that are currently in escrow in Saugus are Condominiums.

Townhomes in Saugus in escrow: 15 of the listings in Saugus that are in escrow are townhomes.

The number of Saugus residences sold this last week (7 Days):

Total Sold in Saugus CA: During the past week in Saugus CA real estate, there were 21 homes that closed escrow. This is also known as homes that have sold. Congrats to those new homeowners that bought homes in Saugus CA this week! Avenida Terraza, Paseo Terraza, Bobwhite Circle, Banyan Place, Opal Lane, Laroda Lane, Plum Canyon road, Avenida De Sonrisa, Garza Drive, Centurion Way, Barbacoa Drive, Woodside Drive, Mariam Place, Derby Place, Banyan Place, Sycamore Drive, Stoverflat Ct, Discovery Ridge Drive, Opal Lane, Dorothy Street, Dragonfly, Millhouse Drive, and Skipping Stone Drive.

Single-Family homes sold in Saugus last week: 14 homes in Saugus that successfully closed were Single-family homes.

Saugus Condos Sold the last week:

Townhomes that sold in Saugus in the past 7 days:

Saugus real estate news by Connor MacIvor in California

BOM - Back on Market properties - those which fell out of escrow in Saugus CA. 13 residential real estate listings BOM'd or had their status changed to Back on Market. That is not great when we only had a total of 21 listings sell.

In this market the typical reason why the homes BOM, or have their escrows canceled and those homes re-enter the for-sale market in Saugus has to do with a competitor home for sale entering the housing market.

The buyer for the home that had its escrow canceled saw a new listing they liked better.

They went for it and canceled the escrow that they were currently within.

This is not good for the home sellers. If you are a home seller that had the buyers move on your new listing and cancel the one they had currently under process, what are the changes another "shiny thing" is going to come their way and they may cancel on you? Think about it.

What type of housing market exists in Saugus this week? Saugus is facing the same situation the rest of the SCV cities are facing, limited inventory in homes, condos, and townhomes that are for sale.

Of the homes that are for sale, there is a high competition between buyers as if it's chum being added to the water.

Buyer Drive in Saugus CA: The current buyer drive in Saugus is a good indication of market health and the confidence that home buyers have as it pertains to Saugus real estate. Currently, the home buyer drive is outrunning the pace at which Saugus Ca homes can enter the for-sale market.

Saugus real estate Buyer issues and problems: The biggest issues that I currently see in Saugus real estate that could be addressed is the lack of preparation for the home buyers that see the home they want, but have to wait to get all of their paperwork together to make a solid offer.

This type of Saugus CA market is really strong for the home sellers. With multiple offers, the home buyer needs to have everything ready so they can make the offer as soon as they see the home they are interested in.

Home Buyer Concerns and warnings: Watch out for agents who are not local to the Saugus - Santa Clarita cities. They may know the real estate in the city they come from, but to keep their fingers on the pulse of the Santa Clarita market, they may be doing their clients a disservice.

Buyer Financing types for Saugus real estate: FHA had three buyer types to use that financing in Saugus during the past week.

The Veterans Loan in Saugus CA was able to help 1 buyer using a VA loan.

No cash buyers were buying real estate in the past week in Saugus CA.

15 conventional loans using home buyers is the winner this week for the types of financing used to buy Saugus real estate.

In order to get financed to buy a Saugus Ca home, to not give up any advantage, you will want to speak with a local, reputable, and well known real estate lender. Call me and I'll make the proper intros.

Buyer typical escrow Length this week for Saugus real estate: Currently, the lenders are very motivated to help home buyers in Saugus CA close fast. To have a lender that is able to get a VA or FHA buyer financed and get the loan completed in 30 days or less is not unusual.

While 2020 seemed to be the refinance market, that has slowed down. Hence, lenders outperforming their past promised and showing off when it comes to originating the harder and more complicated financing types.

This has been your weekly Saugus CA real estate update. I'm Connor MacIvor and I'll be here for you when you are ready to buy or sell real estate in Saugus CA.

PDF to the Saugus CA real estate update

Saugus California real estate news and home update (00:00):

Good day to everybody. I am Connor MacIvor, Santa Clarita, home experts. I have some interesting information. I am doing a report on the sagas, California real estate market. Of course, Saugus is one of the cities in Santa Clarita Valley. I have two interesting things to show you. This update is for the 9th of July 2020. I'm going to post this up on YouTube. And then in below here, below the video, you're going to see the actual link to the article and the blogs. You would see the data, but I did publish, but there are a couple things I want to do. First. First, I'm going to show you how to get there. So if you go to Santa Clarita, real estate experts, we're going to be here at the very top center, created home experts.com and you can click on our blog and there you're going to see the sagas real estate article.

Saugus California real estate news and home update (00:48):

It should be the first thing, at least within the next day or two. Tell I publish other exciting information about the Santa Clarita real estate market, as soon as the page loads, and then we'll scroll down and we'll see the information that I was talking about. So there are two factors in Saugus, real estate that I find very interesting in, and among the different Santa Clarita Valley cities. And of course, every day I have a different real estate update. So I'm going to be taking, I take the six Santa Clarita Valley city. So Valencia Stevenson, ranch, sagas, new hall cast, stack, and Canyon country. And I do each one of those per day. And then of course on Mondays, I do the overall center creative alley. So let's scroll down here to the sagas real estate update. And I will give you the Intel that I was talking about.

Saugus California real estate news and home update (01:34):

Two factors that I thought were interesting. So right now, Saugus, as far as all of the Santa Clarita Valley cities, very low real estate inventory. If you look here, you can see, I did split up and I have 45, my favorite caliber also, but 45 data points. I look at with regard to each individual city in the Santa Cruz Valley, man, I also take those 45 data points and I apply those over the entire Senate, greater Valley to give you that Intel on Mondays when I do that report, that does help both home buyers and home sellers make better decisions with regard to real estate. And it shows exactly what's going on in the market at any given time. So that's why I do this update. Plus we do a majority of our business here in Santa Clarita Valley and also helps. So back on market properties, that's one of the things I wanted to talk about 13 of the 21 homes.

Saugus California real estate news and home update (02:26):

So 21 homes sold here in the last seven days in sagas, California, 13 additional real estate listings actually were in escrow but fell out of escrow. So the reason people ask why is that happening? Whenever we see a market that has very low inventory, and that's what I'll talk about. Part two very low inventory. Then typically we see buyers being a little bit more choosy when they go out and they actually take the one listing that they like, but it's not really their best choice, but when something else comes on, that seems to be a little bit better. They'll jump to that one immediately. The problem with that is it could create a legal issue depending on where the buyer is in the contract. And again, you definitely need to seek an attorney's advice if you're about to cancel being an escrow with a seller, but where this could also impact them is within contracts.

Saugus California real estate news and home update (03:19):

So make sure you read all that very carefully. And if you are about to jump ship and do another listing that just hit the market for sale, you're going to want to really explore that option before you commit, when you're buying a piece of real estate or a sagas home or any Santa Clarita home for that matter or

anywhere, you definitely need to make sure you're well covered before you start changing your plans, especially after you already give your signature on the line that States you do want to buy the house. Of course, there are reasons of back out of escrow, but again, a majority of these 13 that did fall out of escrow and went back on the market for sale where that exact case those buyers are now in escrow with other properties. So those are the two things I wanted to talk about with this real quick video component for the sagas California real estate update, check out our blog, Santa Clarita, home experts.com forward slash blog. I've countered MacGyver. Today's July 9th, 2020. And we'll talk to you very soon. Thanks for watching it.

July 8, 2020

Santa Clarita real estate update for week 2 July 2020

The housing market in the Santa Clarita Valley has been alive with activity, the listings are really lacking and the buyer drive remains high.

I have watched as the real estate market has morphed into a place of noncompetition to multiple offer scenarios playing out with almost every home listed for sale.

Even with the overpriced homes that reflect a robust pricing strategy by the homeowners are getting shown and have buyers not afraid of submitting lower than asking price offers.

The home loan processes are as carefully monitored as they are able to be. There are no shortcuts with loans and lending on residential real estate. Tax returns are liked to have up to date, even with the pass that the government has given due to the COVOD19 issues.

Some of the other things that the current housing market is experiencing have to do with restricted showing patterns that have been the case since the pandemic was implemented.

Santa Clarita home experts real estate update and news

During the past several months, during my monitoring of the Santa Clarita housing market, it looked like the Santa Clarita real estate market was knocking on the record-breaking door.

From a listing per month statistic and the number of homes closing per month in the Santa Clarita Valley perspective.

However, that was cut short as we started to enter into March when the full COVID19 pandemic was announced.

It was at that time that real estate started to slow down, however, the numbers were not reflecting the changes until 30-45 days into the future from that time.

This is because that the escrow time frames had to come and go so we could see the accurate numbers related to closings and homes sold.

In the Santa Clarita, there are two ways a home that is in escrow, or under contract, can show. One of the pending status.

The Pending status in the Santa Clarita Valley means that the homeowner, the seller, does not want to have any additional offers or additional viewing to come in. It is also a sign where the agent is confident in the offer that is currently on the property in question.

The other status that is often used, at the point that escrow opens, is the backup status. That has changed over the years to the active back up status.

The pending properties are not typically rendering online as being for sale. This will depend on the website you are using to search for real estate.

If the real estate website owners are about monetizing their leads, your personal and private information, they may have a listing show as if it's for sale, when it's actually under contract.

This will almost force a person searching for homes to give up their personal information due to the other website rendering the listing in the correct way.

They see it only listed on one of these cheating websites, so they inquire and are bombarded by agents calling because they were just sold your personal info.

Safe Home buying program for real estate sellers

Have you seen this advertisement by a lead generation company for real estate agents?

They know that some agents are willing to pay big money to get your personal information in the form of a lead.

Hence, they come up with what appears to be magical and mythical programs that are wrapped in pretty packaging and marketed on your social media, TV, and radio.

There is some much going on related to misleading the public and even some of my compadres are to blame in the real estate agent world.

The bottom line is that I would never tell someone something to get their business that was not true. I don't bend the truth either. There is nothing that I want more than to have your business. However, to get it based on a lie - that is not me and will never be.

Back to the "safe home" program. They tout agents who protect their clients from COVID19 when it comes to selling their homes.

All agents in our Board of Realtors, the Southland Regional Association of Realtors, via the California Association of Realtors and the National Association of Realtors, already have this covered.

However, the commercial makes it appear different in some sort of way.

If you are not in the market to sell or buy real estate, it is easy to get mislead by these "massive advertising budget" real estate lead generation companies.

Agents almost never beat their clients to the new listings

One of the "real items" that I have been discussing this week with my real estate group has to do with agents who state they are able to outperform the client when it comes to supplying them with new listings.

Maybe via a drip method that is set up in the MLS, but personal contact stating that I have just seen a new listing that populated the MLS and is for sale, before the clients - almost never.

For example, if you have a real estate buyer who is wanting to buy a home and who is motivated, they will be searching online on their own.

They will probably be searching multiple times per day for homes that are for sale and scouring the new listings they are getting emailed from some source, hopefully, your website.

If you are working with more than one real estate buyer as a real estate agent, they are almost always going to beat you to the punch. The best you are going to be able to do as a real estate agent is to be there when they call or text you.

When they want a showing set up, you can get that done and obtain some background information from the seller's real estate agent.

This will help your buyer beyond what they are able to do themselves. 

The next step you can take is getting them good comps, what is the value of the home as it stands before you see it with your clients in person or virtually.

Get them that information and you can also send them information on the HOA, homeowners association if the listing has one and also the tax information to ensure they know going in what that ownership is going to cost them.

As a real estate agent, if you client is using VA or FHA financing, you can also find out from their lender if the complex or property is FHA or VA approved. That would be helpful before you set the appointment to view the property.

Finally, being there for your client as a top-level negotiator is paramount.

While you won't be able to beat your client in seeing the new real estate listings and presenting the same, you can be there in the other ways that most agents won't be for their clients.

That is how you make a name in the real estate business, by putting your clients first and always placing yourself in a helping client's way of life.

When you are ready, I'll be here for you. When it comes to Santa Clarita real estate, I'll be here for you and yours.

I'm Connor and I'm glad to be of great service.

 

 

 

July 8, 2020

25008 Wheeler Road, Newhall CA, 91321 Home for Sale

Home just listed for sale 25008 Wheeler Road, Newhall CA, 91321

 

More information coming forth with - If you want to view this home - comment below or better yet - call me. 661.400.1720

July 8, 2020

28227 Bel Monte Court, Canyon Country CA 91387 Home for Sale

 

View the Floorplan for 28227 Bel Monte

We have just listed a home for sale at 28227 Bel Monte Court, Canyon Country CA, 91387

There will be more information posted very soon about this Canyon Country home that is coming soon into the MLS.

I'm Connor MacIvor, when you have a chance, you must listen to our latest Santa Clarita real estate market report.

 

 

July 6, 2020

Who is lying to you now? Santa Clarita real estate update by the experts 2020-188

Santa Clarita real estate agents top best practices for buying and selling homes

Transcription of today's real estate YouTube and radio show and update for Santa Clarita homes and real estate buyers/sellers.

PDF for the Santa Clarita real estate and housing radio show 2020-188

Santa Clarita real estate homes and radio show (00:01):

Connor MacGyver. Good morning, July 6th. So we survived the July 4th and, uh, it looks like all the fireworks shows were closed down besides Lancaster. And it seems like, uh, Rex Parris, RX Paris out there really just kept that one going. And then where we live here in Santa Clarita Valley, there was like an explosion every 15, 20 minutes, some kind of a large firework being soft about three o'clock. I think it wound down and I was able to finally get some rest that's over the July 4th weekend. Let's talk about real estate. And those numbers today, of course, is the next real estate radio show here for Santa Clarita Valley. I am Connor MacGyver. Your host today is July six, 2020. We are Monday. The show will be transcribed, of course, within our blog@santacretarealestate.com forward slash blog, and also the other online syndication channels. Plus, we will upload this and have a podcast as well on Apple iTunes, Stitcher radio, and all of the other fancy places online.

Santa Clarita real estate homes and radio show (01:03):

When you do your search for Santa Creta home experts, just scroll down. You'll see everywhere where the show lives. You'll be able to get your weekly rendition of what's going on here in real estate. So you can best make your decisions whether to buy or sell to hold off and that'll at least help you keep yourself safe. At least it should. All right. So let's talk about this currently in Santa Clarita Valley and part of the show today, I do want to talk about a sensitive subject regarding a Jen's potentially telling you certain things that might get your hopes up. When in fact you need to just listen to grieve between the lines. So I'll get into that here in just a moment. And for those agents watching and listening, sorry, sorry to put that out there. All right. So let's talk about current inventory in Santa Clarita Valley incredibly low.

Santa Clarita real estate homes and radio show (01:55):

In fact, the lowest point we've seen the last several years, 318 active listings as of this morning, July 6th, 2020 in Santa creative value. That's going to cover the cities of acting Agua Dulce, Castaic, Canyon Country, Newhall, August, Stevenson, ranch, and Valencia all across the board in Santa Clarita, 318 actives, that's it. So real estate is definitely still in a seller's market. There are a lot of buyers out there that are incredibly frustrated and especially through the countering process because a lot of agents are really putting the screws to them on behalf of their sellers. When it comes to how they're countering these offers for schools their multiple offers. So the seller's ability to take full advantage of that. Try to get around that. I did talk to a gentleman yesterday who has an agent that he is working with, and I appreciate it. So I'm not trying to steal him away, but one of the things I talked to him about, what's the importance of the love letter.

Santa Clarita real estate homes and radio show (02:50):

If you want to see information about the love letter and how the best put that together, if you're a real estate buyer out there looking to purchase real estate, it doesn't hurt any part of the process to learn. Just go ahead and punch into Google. Santa's three to home experts, love letter. Anyway, you'll be able to see that I have one of the first results for that after you get past the ads, and you'll see that at Santa Clarita, home experts.com on my blog, just punch in Santa Clarita, home experts, love letters, and you'll be able to see that article. Now, when I have our clients write that love letter for the property, there's a careful balance in there. You don't want to be too excited about the property, but you don't want to. You want to add something to it where you might be able to have a behind the scenes connected with the seller, at least on an emotional basis.

Santa Clarita real estate homes and radio show (03:41):

If you're interested in purchasing the property, maybe you're going to be living there with family. Maybe you can talk about maybe you're in law, living there trying to help them through their elderly years, or maybe on the other side, you have children that are going to be going to the local schools and want to grow up in that type of neighborhood. These are all emotional components and they actually help when it comes to all things being equal, your offer versus another offer. And that other offer doesn't have the love letter, but yours does all things being equal. A lot of times the sellers are going to choose that offer that has that love letter attached to it. Alright, so 318 active listings coming soon listings total on the market. As of today, July six 16. These are listings that are going to be released at some time in the future.

Santa Clarita real estate homes and radio show (04:28):

The agents have 21 days. I actually have one coming soon listing in that category. I'll have another one tomorrow on a street called Belmonte out here in the Santa Clarita Valley. Uh, the one that we put up yes the day before yesterday was on Wheeler. Today's Monday was yesterday coming soon listing on Wheeler. So you can check all of that out. Of course, if you go to Santa Creta home experts.com and one of the clients that I talked to yesterday, he's not my client, somebody else's client, but one of the things I want to clear the air before I get into the rest of the numbers has to do with, he was frustrated that his agent was sending him on automated, automated, real estate listings from the MLS. And I told him, don't be frustrated. He's going to be just as fast. , this gentleman, the client, he's going to be just as fast as seeing these listings as the real estate agents, he's going to get that Intel right away.

Santa Clarita real estate homes and radio show (05:20):

The agent really has no better option than to send those listings on a drip. And if the agent happens to be working with more than one buyer out there, a lot of times, he's not going to see that brand new listing. You're only buying for yourself. That agent is monitoring listings for maybe several clients. So he's not going to be able to be on the uptake as quick as you are, because you're looking diligently every moment out, of course, that automated drip, just in case you didn't see something, that's going to be flooding into your email. So maybe you can be made aware, but were hiring that good agent that best local resources going to pay off is going to be when it comes to getting your writing that correct offer, and then having that offer accepted. And then following through with the negotiation of the different items, when it comes to your purchasing that residence from the seller, and also being able to balance those timeframes to the best of your benefit as a real estate buyer.

Santa Clarita real estate homes and radio show (06:18):

These are all those pluses were a neophyte or a brand new agent or somebody who doesn't have a lot of time on the job, or hasn't experienced a lot of clients. They're going to run into problems. They're not going to know that best answer, the best solution, the best way to negotiate, and the best way to take full advantage for their buyer. That's where the payoff is when you're hiring that agent, because the agents that have the ability be agents that have had time in scope, been serving their clients, they're going to be the ones that are going to be the step forward and help you get that listing over and above the other competitors in the market that are using other agents. That's the trick. So hire smart. And when you do as a real estate buyer, understand you're not paying your agent's fee.

Santa Clarita real estate homes and radio show (07:06):

Your agent is a buyer is getting compensated by the seller, whoever the seller is. So if that listing is out therefor sale, that seller is going to be building in a commission for your agent, even though your agent

isn't the seller's agent in real estate, even though in California, it has allowed for the agent representing the seller to also represent the buyer on that same transaction. It's not always the best position for a buyer or a seller to be in because the singular agent knows both ends know the buyer knows the buyer's bottom line or top max price. The agent also knows the seller's bottom line and all those intricacies as to why they're selling. They know why the buyer is buying. That's a lot of information and better served. I am a show in my humble opinion is to have your own ice agent period that is not associated with the seller.

Santa Clarita real estate homes and radio show (08:08):

Again, my call Canada Outlaws that there are a few States that outlaw dual agency is what that's called again. I think that keeps people safer. Here's the thing that I told this gentleman the other day, he had mentioned that his agent said that they're going to do a mass mailing to a particular neighborhood where he wants to move because of the lacking inventory, trying to get sellers more motivated and basically stating, Hey, I'm ABC real estate agent, blah, blah, blah. And being a local real estate agent, I have a buyer that wants to purchase it, your neighborhood. And I would like to know if you'd be willing to sell your house to my buyer. That's a nice letter. And in theory, that's cool. But at the end of the day, is that seller really going to sell that to the real estate agents buyer, without looking at other offers from other agents?

Santa Clarita real estate homes and radio show (09:01):

Probably not because at the end of the day, especially now being such a competitive market, that real estate seller is going to want to make their home competitive with the other, the other properties out there. And also to experience if it's priced correctly, experienced a multiple offer situation or multiple counter situation, that's going to give the seller their best return when they're trying to sell their resonance, not just to one single buyer, the other thing. And I thought this was interesting. He had mentioned that the agent stated they were going to do this. And I said, well, the agents, so you some kind of receipt or something that they actually did this mass mailing to all these people. We're probably talking a dollar 50 to $2 per piece. If they're mailing to 400 residences, you know, we're upwards of $800, maybe 600 $5,600 for the agent's fee to be able to mail to all these resonances.

Santa Clarita real estate homes and radio show (10:00):

I mean, it's, I'm sure they're not lying, but if they are, it wouldn't be bad to kind of see proof just so if you wanted to get out there yourself and even door knock, you would at least be able to do it, knowing that you're not being lied to in the agents being honest. So I asked him that and he kind of thought to himself, and I guess he's going to reach out and kind of ask for that sort of thing. I would never tell a client that I'm going to do something that I'm not going to do. Period. I would never tell a client that I'm going to be mailing X amount of mailers to a particular neighborhood in order to try to find them a listing because their heart set on it. What does that do? It doesn't help anybody in the process. At least be honest about it and say, well, that that's kind of old school and addition fall back on the truth, which is how many sellers are actually not want to have the market saturation with regard to the home that's being sold. And they're going to sacrifice all of that to allow one particular buyer to purchase their residence. I would say almost

Speaker 2 (10:57):
Are going to allow that right,

Santa Clarita real estate homes and radio show (10:58):

Most of the sellers want to complete market saturation. And I'll give you an example. I did have a real estate agent, local agent. I know her very well. She reached out to me about the Wheeler property that we put in the coming soon status. And she wanted to know if they would accept that offer Bush for showings commenced. If a buyer wrote full price and removed whatever contingencies they could. And I said, no, because I already had that discussion with our seller. We want that complete market saturation and everybody to see it. And then we'll decide who the best offer might be. If it's multiple offer situation, which that would be incredible for any seller, then we will counter back accordingly. And we will make sure that everything is on the up and up. But to be able to say that we're going to accept this one offer, especially in this type of market, probably the best scenario.

Santa Clarita real estate homes and radio show (11:54):

And again, agents need to be more forthright with their clients. Now, the gentleman did talk about, and I did say, you know, give everybody the benefit of the doubt. But again, there is no way that any agent is going to really outrun somebody that's looking for real estate. That's super hands-on and is looking all the time at the real estate listings as they enter the market for sale because people are not as available as that singular client buying that single residence, but where it does pay off. And I'll get back into the numbers in a second, get off my soapbox, where it does pay off, happens to be with a negotiation. And first off, getting that offers, packaging everything together, making sure that it's a complete offer having that offer submitted to the correct email, of course, and then following up constantly with that agent attempting to get a response to your buyer's offer as a real estate agent.

Santa Clarita real estate homes and radio show (12:49):

So here you go off the soapbox. Let's talk some more. So the coming soon listings are 16 that in this last week, uh, they did continue to advertise those listings. So there were at least 20 that were involved this last seven days, putting those into the MLS 29 listings went on hold, do not show, um, potentially those could be properties that have issues between seller and agent. They could also be properties where the seller said, Whoa, Whoa, Whoa, let's hold off a second because we got so many offers. Let's try to figure out what's going on. Probably not the best status. And if those agents were found out, maybe they could be, have some kind of penalty imposed on them, be via the board of realtors for using the hold status. But again, maybe somebody got sick in the seller's house, maybe something's happening on that end again.

Santa Clarita real estate homes and radio show (13:42):

So they're putting them, hold, do not show. This is a field that an active agent sees. So you see those new listings as they hit the market for sale, because you're really, really active, right? The listings that you're not seeing are the ones that your agents able to research. The stuff that had been held does not show maybe there's a withdrawn listing that was pulled off or canceled from the multiple listing service that fits your criteria. What's to stop your age. And if they're active, like a good agent would be in contacting that seller or even knocking on that door saying, I really do have a client for your house. I know that you canceled it. I don't know what's going on in your lives, but I do have a client. This is their preapproval letter. This is their lender letter. This is their proof of funds.

Santa Clarita real estate homes and radio show (14:29):

This is potentially what, after looking at your house, what we've offered on other properties in the neighborhood, or potentially after they look at it, what they might offer on yours. Let's see if we can

work out some kind of a transaction deal for my clients and we can all win this, this particular scenario there'll be winners do as a seller, I'll be a winner and I'll be a winner as an agent. What do you think? That's like an awesome job by a very active real estate agent. So that's withdrawn. They can also go to the expired listings. If there's something that may be expired even six months ago, that didn't sell under contract, a good active agent can go to that expired listing and say, listen, here's this house that fits my client's criteria. Agents should be a little bit more active that way. So looking at the expired, looking at properties that are withdrawn, looking at properties that are canceled, looking at properties in neighborhoods that maybe were listed a couple of years ago, but never sold.

Santa Clarita real estate homes and radio show (15:24):

These are things where agents can be active and it's going to be difficult for a buyer in today's market to do that kind of research and recon because they don't have access to the backend of the multiple listing service where we can run all sorts of criteria and even see those listings, the real estate syndication websites, while they're great for new stuff. They're not very good for listings that have had prior cancellations or withdrawn. You might be able to see them, but then that agent is going to be the one that's going to have a little bit more authority when it comes to trying to contact that particular owner and finding out they can go into the title. They can find out is that a rental for this owner? Is there an additional address on file? They can reach out and they can make your dream come true when it comes to real estate, by doing that kind of research and say, Hey Jack, listen, I was looking at properties that you like, I know you want to live in the Creekside community. For example, six months ago, there was an expired listing. It never sold. I did go door knock and had a great conversation with a person that tried to sell it six months ago. And I told him that I do have a buyer that wants that exact model and that exact location. And he's willing to let us come look at the property or you're available tonight as sex or tomorrow at eight 30, he's available so I can take you.

Speaker 2 (16:37):
Bye. Awesome. Right. It works out great. All right.

Santa Clarita real estate homes and radio show (16:41):

Active under contract 261 listings currently pending 359 in the last week, 94 houses sold and closed escrow and new listings. This last week, 84, 39 properties had their prices changed, which is a those price changes in the majority were reductions. Uh, we've seen a little bit of a trend with regard to appraisal standards. I don't know if behind the scenes, what the appraisers are being instructed, but we have seen some properties that seem to have been priced right with comparable value, actually get appraised for less. So that's something that where the market's morphing a little bit. I, it's not on a huge scale, but you are seeing some properties as they record recording for less than what they were listed for. And it could be in those cases, those houses overpriced in the first place. But in a lot of those cases, I'm noticing because some of our clients have been affected and the other real estate agents that are in my same networking groups, they also have brought this up.

Santa Clarita real estate homes and radio show (17:47):

I'm curious as to whether has been a change in appraisal standards or what special instructions those appraisers might be getting to maybe start devaluating property, don't know, just to conjecture, just throwing it out there. I don't know if that even happens or if it's legal, but again, we have seen some properties that seem to be price, right, actually appraised for less. You as a seller should really get all your due diligence done because if it does come back where that appraiser says your property, isn't

 

worth that list price and your agent did their due diligence and did their research. They should be able to counter that appraiser and they should be able to send them the comparable profile that they put together, getting you that particular price for your residence, and they should be able to fight it.
Because at that time, even though your agent might not be an appraiser, they're going to be supplying that same data that that appraiser should have been looking at because we're talking about the most ration recent comps sold looking at apples to apples in comparison, looking at same bedroom, bathroom matches, plus, or minus a couple hundred and 50 feet in the square footage.

Santa Clarita real estate homes and radio show (18:55):

And also looking in Santa Clarita Valley, which we're blessed to be here regarding tracks and the way real estate's configured and the way real estate is actually kept track of. We do have tracks pulling that exact same track by that same builder. Uh, and the plus or minus on years built are going to be within one or two years because that's typically when a new home community starts and then finishes. That's probably a little bit longer, but you're going to see that same data. They'll be able to package all that and send it over to the appraiser and say, well, I understand your appraisal report came in. And they stated that the house was worth 10,000 last, but I have a good comp profile. Did you look at these comps? And in most cases, if it's stated to the appraiser gently and doesn't do anything, ruffle their feathers in a lot of cases, they're going to be looking at that and say, well, you know, maybe I didn't, or at least give some other justification as to why they did reduce that the amount that the bank was willing to loan on the property, there might be other reasons that exist that the agent didn't see.

Santa Clarita real estate homes and radio show (19:59):

But for the most part, it looks like for the most part, if the agent did their due diligence, I did their job more than likely it could be an appraisal issue or the appraiser didn't see those comps, or maybe it's an out of area appraisal. And instead of the appraiser, and maybe they're not used to the track system in Santa Cruz Valley, maybe they're mainly out in Riverside, but they were the only ones available. That's something else we look at is, is agents out here? Where's the appraisal from the appraiser from, and are they used to Santa to have they actually appraise properties out here in Santa Clarita Valley? Alright. So with the active inventory being incredibly low, we're still in a seller's market. We are going to keep monitoring this real estate here in Santa craters. I always do make sure you check out our blog, Santa Clarita, home experts.com forward slash blog.

Santa Clarita real estate homes and radio show (20:54):

You'll be able to see all of the new information, all of the real estate news, and everything that we put together on a daily basis. Don't Fred. If you have an agent, you don't feel like they're working for you. Give them the benefit of the doubt, see what's going on. But if you want to switch again, you can fire them and hire somebody else. It's totally your business. If they did have you signed some kind of a contract like a buyer broker agreement, it's a little bit more sensitive, but anytime I've ever used one of those documents personally, I don't want that bad cheese fallen back on me because I tried to enforce something that really the buyer had their choice of using whoever they want when it comes to buying a house. That's my 2 cents Connor MacIvor, Santa crate, home experts. Thank you so much for watching. Can't wait to talk to you. So give me a buzz. If you need my help, Connor MacGyver over and out. 

July 1, 2020

The way of the gun and Santa Clarita real estate update

Shooting training anyone? 

Thanks for watching this week's real estate update for Santa Clarita homes in the Santa Clarita Valley. I'm Connor MACIVOR and I'm glad to make your acquaintance.

If you have been here before or if we are acquainted, I appreciate you returning to get the best in Santa Clarita real estate news and updates pertaining to our local housing market.

As inventory continues to fluctuate between low and lower in the Santa Clarita Valley cities, we are seeing some of the local agents tighten down their counteroffers. This is especially the case when they are countering multiple buyers in one swoop.

The problem is when those agents tighten the requirements pertaining to the buyer's lender and their requirements.

The buyer has a right to use the real estate lender they want, that is not a mystery.

However, if the buyer is obtaining a loan through a lender, that lender is going to order an appraisal.

It will be required. If there is no appraisal, then the bank won't lend the buyer money. If the home is priced too high and if that amount exceeded the appraisal amount, then the bank won't loan the total amount either.

Therefore, when the agent representing the home seller states that the buyer is to waive the appraisal contingency that is within the contract, there are concerns that are raised.

The first question that I have is if we paid too much for the home. Comps were running and I know what the homes in the area that sold are worth, or had sold for. 

My buyer has seen the comparable values, my buyer is an engineer - but my buyer is not about to jump in with that kind of big-league counter offer.

I contacted the real estate agent for the seller and declined their counter offer. She did ask why and I said that her counter was ridiculous!

Santa Clarita guns training and real estate news for Santa Clarita housing

Transcript from the Santa Clarita real estate news update 2020-181

Santa Clarita Real Estate Connor MacIvor Expert (00:00):

And good to everybody caught her Nick Iver, sonically to home experts.com. Welcome to your weekly real estate broadcast. We are on the 29th of June, 2020 on Connor MacGyver. Your host local agent headquartered here in Santa Clarita Valley, coming to you next to the McDonald's supercuts. And we have nails and spas. We have the joint and bright by one of the presales that go to that fancy bridge. I'm just North of magic mountain Parkway sitting in a parking lot off of McBean. And if you're from Santa Clarita Valley, you'll know that this is the old pavilions pop shopping center mall area.

Speaker 2 (00:40):
Yeah, kind of an outdoor mall

Santa Clarita Real Estate Connor MacIvor Expert (00:42): Pizza coffee's over there got party city, uh, Nordstrom rack

Speaker 2 (00:46): Jack.

Santa Clarita Real Estate Connor MacIvor Expert (00:50):

I'm pretty sure it's Nordstrom rack. All right. So let's talk about what's going on in real estate herein Santa Clarita Valley. So I'm going to get to those numbers here in just a second. What has Connor been up to? Connor is getting his teaching credentials back. Of course, I had them with the PD, but it's different because to do the civilian world, but you really don't need anything. But if you want to kind of be somebody, you get your NRA credentials and your department of justice credentials and your COE in California, all that other fancy stuff. So I'm working on that because there are a lot of clients that we have that are interested in learning and gun safety, gun safety, rifle, safety, shotgun safety, and then to improve well, even just to learn. So I'm doing that as well. Just thought I'd throw that out there.

Speaker 2 (01:40): Um,

Santa Clarita Real Estate Connor MacIvor Expert (01:41):

Contact for that will be Santa Clarita guns@gmail.com. Send me an email if you're interested. All right. So let's talk about these 338 active listings in the entire market in Santa Clarita Valley. That is incredibly low. Last week. I believe we were 20 higher at three 58 plus or minus, but again, very low. If you look at the overall trend here in Santa Clarita Valley, we've been low for a long time, but the first part of this year we were on, it seemed like we were on that path to get good, nice, solid real estate inventory, where buyers weren't gonna have to compete so much with other buyers. Then you had the pandemic and now it looks like we might even have some of the businesses that were allowed to be open, start to be closed again. So we'll have to see what the governor and the powers that be decided to do with regard to that.

Santa Clarita Real Estate Connor MacIvor Expert (02:33):

I'll keep you posted as far as those effects on real estate, still no open houses, still all the showings that are done have to be scheduled. And paperwork has to be filled out by the agent showing including signed by their clients. But yours truly is by doing a bunch of virtual showings. I have clients from out of state as

well, and also some of the locals, even though the different, different websites out there and the different agents that have the listing such as us, we do use these fancy virtual tours that allow you to walk from room to room. There's nothing like being able to be on a FaceTime video with yours truly. And having me actually point out what I smell, what I see, the things that I would actually point out to my clients, including you, if I were to be showing it in person.

Santa Clarita Real Estate Connor MacIvor Expert (03:25):

So what I do is that's my process. Whenever I go into residents is to show for my clients. I send the agent, the document that States, Hey, I want to show this property, give them the date and time I show up, I call you on FaceTime or have you call me? And then I do that walkthrough. And I point out everything that my senses are picking up besides what you're going to see by just looking at a virtual tour. So it really is effective and it does help you to see everything about a property, to be able to make the best decisions. And that's realistically what having a good agent is all about lifting that veil off of all the things that you might not know about real estate. So at least, you know, the questions to ask and, you know, potentially what you're getting into.

Santa Clarita Real Estate Connor MacIvor Expert (04:10):

That's incredibly important. One of the things that I'll talk about before I get to the rest of the numbers with regard to lenders and lending people always ask that question, well, why are these lenders quoting me a better interest rate than another? And then I want to find out has that lender, that's quoting you this great interest rate has as he runs your credit, has she run your credit? Is have they looked at you and try our profile? That's important to have done because it's easy for me to tell you that you have a particular interest rate when I haven't looked at any of your numbers, but then I look at your credit report. That's going to change the whole dynamic. Maybe your credit is not so good. Maybe you have a high debt to income ratio. Maybe there are some issues on there that could be easily fixed, moving you from one interest rate, 20 even better interest rate.

Santa Clarita Real Estate Connor MacIvor Expert (05:02):

These are questions that you need to ask these people. If you're not getting that percentage, that interest rate that you thought you were going to get asked the lender, why am I not getting that 3.2% interest rate? Why am I getting a 3.5 or 3.6? They should be able to explain it to you. And if it sounds fishy, then let me know. And I'll be able to get to the bottom of it to see if it's a real thing or if it's just a made-up thing. So they get a little bit more on the backend when they get paid. These are things to watch out for when you're buying real estate, you're not paying my commission. I get compensated by the seller, no matter who the seller is. So the seller could be an entity like a new home builder, Lamar tries point Kaufman and broad.

Santa Clarita Real Estate Connor MacIvor Expert (05:46):

It could be the toll brothers up there, here in Santa Clarita Valley, or it could be private party. They could be selling their house through another agent and other brokers don't matter. I have access and they might. So I'm not part of your costs when it comes to utilizing my expert services and the purchase of real estate and your sellers out there. We also have a program for you to help you with regard to the commission. So please hit me up on that. All right. So the new status that came out, that's been publicized that people talk about, happens to be coming soon, that particular status, you're not going to have access to it, nor are you going to see those listings by even going to my site, Santa Clarita, home

experts.com. It's great. It's a locking search all the inventory, but you're not going to see them coming soon.

Santa Clarita Real Estate Connor MacIvor Expert (06:34):

Not going to see it on Zillow. You're not going to see a lot, truly a Redfin. Any of these other sites, that's hard to save three times fast. You will see it by having that relationship with me. So if you want to see three-bedroom homes in Valencia, and that's what you're looking for between 450,000 and $600,000, when I put together that search and I send that to you, then what you're going to be seeing is you're going to see along with the activities you're good, excuse me. You're going to see the coming soon listings. And with those, you'll be able to then see what's coming and we'll be able to prepare our plan of attack. So if it comes down to you seeing these lists days and you say, Oh my gosh, there's the one in that area that I want. Then I'm able to get that set up and potentially show it to you.

Santa Clarita Real Estate Connor MacIvor Expert (07:24):

Even before it hits the market. I'll try that. But they agents have 21 days to move it from coming soon to active. That's something else to know. Sometimes it's putting the coming soon category because they want to build the buzz about the property. But again, you're not seeing it unless you're connected with your agent or me, and I'll get those sent to you as well. So that's one of the statuses. Currently, we have 19 in that particular category, that's going to be increasing over the next several months. I think that's going to be a field that's going to be utilized more and more. It's just not utilized very much. And the reason why it was created is because some of these syndication websites were allowing agents to publicize lists days that weren't on the market yet, but there was no enforcement mechanism. There was nobody stating that the agents had that well, they told you that you had to make an honest effort.

Santa Clarita Real Estate Connor MacIvor Expert (08:16):

It had to be a real thing coming. As far as the coming soon listing, it couldn't be a fake listing or this other stuff like we used to see in the real estate book. Remember that it was this thickest cosmopolitan magazine at one point. Now it's a, it's a leaflet, but the online channels, there's not a lot of restriction unless you're dealing with a realtor, they're held to a different ethical standard, but some of the syndication websites, some of the agents were very tempted, but out of the board kind of took that over and said, listen, we're going to make a field called coming soon. And that's that new field that you're seeing out there. And it gives you a glimpse, an enforceable glimpse of what's going to becoming. Now, of course, during that time, the seller could change their mind and actually have their property pulled off the coming soon listings, not even be marketed whatsoever in any way, shape or form.

Santa Clarita Real Estate Connor MacIvor Expert (09:04):

However, in order to get a listing put in there, it's not just something that can be made up. There's gotta be a real contract. It's gotta be a real human being. It's gotta be a real property with a real assessor's parcel number. And it is legally binding unless of course it's canceled, but while it's there has to be a real thing, can't be fake. So that's where we are 19 comings soon, 259 active listings currently in backup possession 363 properties pending. So if we didn't sell anything else, we would be at zero, probably in less than a month, as far as real estate inventory goes. So that's known as the absorption rate. So real estate inventory is very low, still, very much a seller's market properties come on the market all the time though. And they get sold all the time as well currently because there is a high buyer drive here in the Santa Clarita Valley.

Santa Clarita Real Estate Connor MacIvor Expert (09:57):

And finally, 79 listings have sold in the last seven days. And that is up from last week. However, the reason that is, is, is it seems the trend always flows as we get closer to the end of the month, more properties are selling at a higher rate. So it seems like those numbers do increase at a month in because people are trying to rush and get things closed. Now, as far as real estate goes, one of the questions that I get asked often has to do with the market and what's going on currently is now a good time to buy is now a good time to sell. As far as both of those, I can answer in the affirmative, not from a selfish viewpoint by falling back on two factors right now, properties don't last very long and sellers are getting a premium for their listings.

Santa Clarita Real Estate Connor MacIvor Expert (10:44):

I'm not seeing prices going up. I am seeing basically properties flat-lining and they have been since probably February, March, partially to COVID. But again, it's, they are still moving, but appraisers aren't being very liberal when it comes to appraising properties. And I've started to see counteroffers that are given back to us from the buyers that we're writing offers for the sellers via their agents are kicking back counters that involve the waving of appraisal contingencies, which makes some buyers nervous and they choose not to proceed with the purchase. So whenever you write an offer on real estate, one of the things that are going to happen, it could be that there are multiple buyers that want to buy the house. So they are submitting. The seller is now receiving multiple offers from different via buyers, via different agents. When that happens, the seller has the right to do a few things.

Santa Clarita Real Estate Connor MacIvor Expert (11:46):

Just like I talked about last week, they can reject everything and say, I don't want anybody. They can counter everybody back specifically. Or they can counter everybody back with the same type of counter offer, or they can just counter one person back or whatever it may be. Or the seller can say, you know what? I like you, you're good. You're coming with me. We're going to choose you. So these are the different options sellers have when it comes to the buyers out there, when they get a response, be it, it was individually just for them or be it, it was sent to everybody. And on there, it says the buyer to remove their appraisal contingency. It's difficult for a buyer to want to move forward. Now, contingency is a reason potentially to cancel the escrow. It's something that has to be investigated. And usually, that has to do with the property.

Santa Clarita Real Estate Connor MacIvor Expert (12:37):

There are multiple contingencies in a real estate transaction. One of them is going to be an inspection. The buyer has a right to inspect the property. The buyer has a right to do other inspections besides the home inspection. Maybe you want to call the local law enforcement. Maybe you're want to buy and Santa create a value call the chefs and you say, listen, I want to buy the house at one, two, three, four, anywhere street. What do you think? Maybe they say, well, it's great, but next door to you, we have a special location that we're called to at least twice a week because they happen to have somebody in the house that, uh, has been just released from 51 50. That's a gauge to themselves or others. And maybe they're not on their meds, their meds a couple of times a week. Maybe that's something you don't want to move into.

Santa Clarita Real Estate Connor MacIvor Expert (13:23):

Maybe you do other investigations like Megan's law. And you find out that there could be a registered sex offender in the neighborhood. Maybe you don't like that as, so these are contingencies. So these are

reasons you can cancel and still get your deposit back. As long as you haven't removed anything. Now, when they put in that counter offer for you as a buyer, that you're going to waive your appraisal contingency, that indicates that if that property happens to appraise for less than what you want to buy it for, let's say it's appraised for less than 500,000. Let's say it comes in at four 75. For example, that's all the base going alone on it. Then it says you're still going to move forward because that's not going to matter. You still have to buy the property at $500,000. Now there's other reasons to cancel, but that's what that would mean upfront.

Santa Clarita Real Estate Connor MacIvor Expert (14:13):

If they were to tell you that you're to get rid of the appraisal contingency is not having that applicable in contract. Most contracts, all contracts have one unless it's removed or unless it's cash, but still, there's a choice. Even with a cash offer that you could still have the property, praise your choice. You have to pay the fee and you have to pay the fee in all circumstances, whether you're using cash to buy the property, using a lender. But when you're using a lender, that appraisal is going to be their limit. If it appraises for what you said, you'd pay for the property. Great. You, when it works, if it appraises for higher than still great, you went at works. The property's not going to readjust and make and have to get matched to that higher price. You still get to pay what you're going to pay.

Santa Clarita Real Estate Connor MacIvor Expert (15:00):

And by law, the seller's not supposed to see that an appraise for even higher, because what happens in that regard is sometimes sellers get a little miffed, little angry that the property actually appraised for more than what you paid for it. So that's not supposed to be seen by them anyway, shape, or form. So all they would know in that circumstance is that the property did appraise the value and that's it. And then finally, if the property appraises for less than that, that's the bank. Now put on the note, getting put on, notice that their buy from their appraiser. They're not going to pay any more for that property than what the appraisal report stated. And if that's less than the listing price, then the negotiation needs to start over. Unless the buyer did remove or agree to have that appraisal contingency removed. Now, if it's still in place, the way that it works normally is then we go back to the seller and said, here's a copy of the appraisal report.

Santa Clarita Real Estate Connor MacIvor Expert (16:01):

If we get the permission of the buyer to give it to them, 'cause it's the buyer's report. We give it to the seller. If the buyer gives us permission to say, listen, it appraised at four 75 and the bank's not going to loan anymore of it,, of that, on that property. I know my buyer said he would pay 500, but he doesn't want to pay 500. He's only going to pay four 75. So what do you think they could come back? They could agree. They could say, well, it doesn't have an official appraiser's appraisal report done. So we're going to go ahead and agree and let the property sell for that amount. Or they could come back and they could say, well, you know, we, uh, we're not going to sell it for four 75. We'll meet them halfway. Or they could come back and say, Nope, we're not going to budget all.

Santa Clarita Real Estate Connor MacIvor Expert (16:44):

They're going to have to come up to 500,000. So they're going to have to inject cash into the transaction order to make that happen. And then of course, with all those responses, it comes back to the buyer and the buyer is given a choice. Do you want to meet the seller's terms? Are you happy with what the seller's offering? And if so, we proceed. If not, the buyer gets to cancel escrow without that appraisal contingency. And that contract though could create an issue. There might be other reasons to cancel

 

escrow, but you can't cancel for the appraisal because you got rid of it. So in this market, I'm seeing some counters that aren't your Disneyland garden variety run of the mill, happy unicorn cotton candy, rainbow type counters. These are tough militant, angry, protective counteroffers that are be being written to buyers and it's scaring the buyers off.

Santa Clarita Real Estate Connor MacIvor Expert (17:38):

So if your agents out there, Hey, condoning this practice, make sure your seller understands what potentially could happen. And by you removing the buyer's appraisal contingency, it's not solvable for the seller. The buyer has other reasons they can step out of escrow. Good to know. So if you're a buyer out there you want, all this stuff explained, definitely a good resources center, three to home experts.com forward slash blog. You'll see all the writing, you'll see the other real estate radio shows, videos like these, where I explained about the market and talk, talk about a topic, talk about what's going on and the best way to protect yourselves. Now, when it comes to real estate when you're ready, go to Santa, create a home experts.com and do yourself a search Scott on the local inventory there. I don't ask you to give up any of who you are at any point in there.

Santa Clarita Real Estate Connor MacIvor Expert (18:30):

All I would do is say, if you want to save your search, definitely do that. And when you do, you'll get that a fresh email with the new listings, as soon as they hit the market for sale here in the Santa Clarita Valley. So you'll see the Santa Clarita Valley listings as they pertain to Casta Canyon country, new hall, the saga Stevenson ranch. Ambulance at the moment they're publicized for sale. Also acted in Aqua Dulce, of course, greater Los Angeles and elsewhere where I work as a real estate agent when you're ready to reach out to me, please check out the blog. I think you'll enjoy it. Also, this video will be posted up to YouTube. If you're listening to this and it's an audio recording or a podcast, I have uploaded that also to iTunes and the other networks that we're on as our benefit for our clients and people searching for real estate, go to Santa Fe to home experts today and check out the latest inventory. And again, if you're interested in the shooting thing, just starting putting that together. If you'd like to get out there and get some trigger time on, feel free to send an email to SantaClaritaguns@gmail.com. I'm Connor MacGyver. Thank you so much for listening when you're ready. I'm here. Have a fantastic rest of your week. We'll talk to you soon. Connor MacGyver over and out. 

June 26, 2020

Home Seller rejects a full priced offer, why - Santa Clarita real estate experts

What happens when you are having an offer written for you by your agent, only to have the seller disregard or reject your offer?

At that time, you will probably think about the offering process and what you may have done to make your offer better.

But, how could you?

You offered full price to the home seller for their home. You have great financing, 20% down, and proof of downpayment funds. You have a great local real estate lender, the lender that your agent recommended. You have a great job and included a lovely "picture included" love letter for the seller's home. Why was your offer not even countered?

Maybe the home seller received a better offer? If someone stepped up to the plate and offered more money than the listing price and more money than you offered, the homeowner may have just wanted to take it and get it over with.

If they had countered both those offers, your's and the other offer that was higher than the listing price, the seller may have gotten an even better result with a higher offering.

In some cases, sellers just want it finished. Some agents are of the same mindset - but those agents are not of good counsel.

It could be that the seller received several offers for their home that exceeded your offering amount, even though your offer was at the listing price.

Santa Clarita home experts news and Santa Clarita market

Maybe the homeowner only wanted to counter those offers, which were higher than yours.

It could be that the homeowner was swayed by a better homebuyer love letter. Maybe your's lacked the emotional component the seller was looking for and they chose another offer due to the love letter hitting all of the emotional buttons.

In rare cases, maybe your agent and the seller's agent had a bad patch in the past. Maybe the seller's agent steered them away from accepting your offer because of the agent you chose. This is rare, but it's possible - it's an ethics violation, but hard to be proven. 

There are a thousand other reasons why your offer was not chosen by the home seller. 

When sending a full-priced offer that meets all of the seller's requirements that are gleaned from their agent and from the documentation in the MLS, I want to ensure it's completed. Every T crossed and with every i dotted.

That is the best that can be done. I also contact the other agent and make a video introduction if I have no worked with them in the past. 

I play nice and lovely. I want my client to have the best advantage, even if that means that I will humble myself in front of the other agent. 

They have something that's client wants, I will oblige them in any way possible.

However, all things being equal, the seller is going to choose an offer at some point. Most times they are going to go with the offer that is highest and with the best terms.

If the "highest" offer is literally higher than the comp value, the home seller needs to be concerned with the appraiser.

What if they go to the home and they don't' appraise the home for the new, higher, and agreed-upon price?

Then the ball moves to the buyer, will the home buyer increase the amount of their offer in the way of cash, beyond what the bank will lend according to their appraiser?

If not, then the ball moves over to the home seller. Will the home seller reduce their price to what the appraiser say's they will lend on the home?

Maybe both parties will meet somewhere in the middle and save the deal?

Sometimes, this works out, but oftentimes it does not and the transaction cancels and the home re-enters the for-sale market.

Based on my experience representing home buyers and home sellers in the greater Los Angeles Areas since 1998, there are many ways to make a deal work out between the home buyer and home seller. 

In some cases, both parties are playing hardball and unwilling to move an inch to keep the transaction alive.

I'm Connor and I'm totally happy to be of great service to you and all your real estate needs.

Please reach out to me when you are ready to have your real estate handled in the best way possible.

Be well and talk soon!

This is a transcription of today's Santa Clarita home experts' radio show with a bonus entry related to my 911rules for life.

The information I have gleaned by being an active participant to live, my background with the LAPD, and my current position as an independent contractor, entrepreneur, and a shooting instructor.

PDF of Today's Santa Clarita real estate show 2020-178

Connor MACIVOR Santa Clarita home experts radio (00:00):

I'm Connor MacGyver, Santa Clarita, home experts. This is a video broadcast for our weekly real estate radio show. Twice this week, we have published some great content for you, buyers, and sellers out there looking to get the real estate news. Today, we have a special show because sellers have options. And if you're out there writing real estate on writing offers on real estate, you might have encountered where you're offering full price. You have great financing, you have your agent write the offer, then all of a sudden you don't get any response. And then you find out the seller has entered escrow with someone else. You know, it was multiple offers, but it's confusing because you did everything you think was right. We're going to talk about the four options that sellers have when it comes to responding to offers. But before that, let me give you a Friday recap.

Connor MACIVOR Santa Clarita home experts radio (00:49):

Here we are closing out June. We are on the 26th of June, 2020. I am Connor MacGyver. Feel free to Google me C O N N O R M a C I V O R. Glad to be of service. Let's talk about inventory first because that's really the first thing in real estate that people are concerned about. And that gives us an idea depending on buyer drive, how the market is, and if it's a seller's market or real estate buyers market. Currently as of the 26th of June. And right now we are at eight, 18:00 AM, 359 active listings, active residential listings in Santa Clarita Valley. And that's going to be acting through Valencia. So act on Ecuador, say Kenny country, Casta, new hall, saga Stevenson, Rancho Valencia. Yes. I can say that three times fast, 359 listings. That is all looking at the absorption rate. And that's kind of how we gauge what that three 59 the number really means or the current active listings.

Connor MACIVOR Santa Clarita home experts radio (01:48):

What that really means. If we did not list another property for sale period, how long would it take us to get to zero for sale? And it would take about a month and a half. That's our current absorption rate and the rate that properties are selling. And in fact, after I get the numbers for June, I think it's even going to be higher than that. I did a blog post on that. Recently you can go to Santa Clarita, hope experts.com forward slash blog or go to Santa Clara on experts.com. And you'll be able to see the blog at the top of the tab. You click and then boom, you get the blog and you can see that real estate recon that I did very recently. One of the things I want to talk about the next category is going to be coming soon listings. What does that look like?

Connor MACIVOR Santa Clarita home experts radio (02:30):

As far as the market goes, 19 of those are currently slotted for coming onto the market here in the next 21 days. That's the maximum amount of time they have. I will tell you that this category is being used more and more. The only way you can access it currently is through having a relationship with a real estate agent and them actually sending you those coming soon listings. So with our clients, whenever they have a set, a search set with me, try that to say that three times fast, whenever they have a search set with me that I'm including those coming soon listings because those listings are important for them and could be the one. So what I'll do is once they see it and they say, Connor, I like this one. Then I'll do further recon and find out exactly when it's going to be released on the Mar released on the market.

Connor MACIVOR Santa Clarita home experts radio (03:20):

So we can be first in, but the category is new as of May 1st of 2020. So it's still kind of being broken in by agents using it. And now if you have been searching for real estate, you've been online awhile, you'll know that Zillow truly, and these other systems out there, syndication websites have always had some

kind of a coming soon thing or a pocket listing thing. There is no policing mechanism for those types of ads that are within those websites. And yes, they offer it. They say you agents out there can put these listings in there and hopefully get more clicks. And so on what agent wouldn't, unfortunately at the time when those were put on there, besides a stringent warning by the owner of those websites, there was really no policing mechanism in place to enforce the agents, having a valid real pocket or coming soon listing versus faking one.

Connor MACIVOR Santa Clarita home experts radio (04:17):

Now, of course, in any industry, you're going to have a certain percentage of folks that probably aren't doing the best thing for their client, the same exists in real estate. That's why I try to educate my folks and people that are interested in purchasing real estate, giving you kind of the bottom line of what to watch out for. Okay. So that's where they're coming. Soon category comes in. So that's 19 today's topic, two, two full topics. One of the things that I talked about on my nine one, one rule for life, which is something that I've started on Instagram. If you haven't seen there, you can find me on Instagram, I'm Santa Clara to home experts. You'll be able to track that down. But one of the things that I talked to myself about, and I do a lot of talking to myself, as long as I don't answer myself, according to my dad, that would have, that's good that God rest his soul.

Connor MACIVOR Santa Clarita home experts radio (05:03):

But again, I do a lot of talking to myself. One of the things that help me operate well in life is instead of saying, I have to do something I have to call this person, or I have to work out or I have to eat riot, or I have to do this. I have to do that. What I have changed that too, as I get, I get to do this, I get to do that. I get to work out. I get to go to the gym. I get to spend time with this person. I get to call all these wonderful people. I get to do these sorts of things. And that seems to help a lot when it comes to just navigating your basic run of the mill garden variety day. So instead of using have Connor, MacGyver's nine one, one rule for life. One of them is used.

Connor MACIVOR Santa Clarita home experts radio (05:48):

Get, I get to do this. I get to do that. It's somewhat honoring giving yourself permission and get as almost something that's in a positive light. You get to do the heart thing. You get to do the fun thing. You get to do the difficult thing, but you'll get to. So you're giving yourself more permission than making it a chore and saying half you're out there trying to buy real estate. Let's get into our next topic. You're trying to buy real estate and maybe you've run into this before you see a property you've written a few offers. Your agent does the reconnaissance on the property and finds out that it's priced well. You want to proceed with a full price offer. You have really good financing. You have everything included with that offer, which the things that people are looking for today are going to be a preapproval letter by a reputable lender.

Connor MACIVOR Santa Clarita home experts radio (06:43):

Somebody that's able to state that they've reviewed your entire file. And if called on it, they can validate it. Tax returns, paycheck stops the whole nine yards. They didn't just do some, a run of the mill garden, variety approval over the phone. This was a in-depth approval. Once they can establish that and state that. So you have that approval letter. The other thing that goes along with it, of course, is going to be the offer, how the offer is scribed as important. Did the agent ask for things that are not typical that could turn a seller off? Did the agent ask for more than what's generally allowed that could also turn a seller off? The other thing is you're going to need proof of funds. So if you are going to be putting 20%

down, you're going to need a statement to accompany the offer, showing the seller that you do have 20% down in liquid form, somewhere in some account.

Connor MACIVOR Santa Clarita home experts radio (07:43):

Now some of them, some folks use accounts that really they really don't have access to that are liquid watch out for that. You wouldn't want to be definitely forthright and honest when you're making this presentation. So you have that. The final thing that a lot of sellers like to see at least now that real estate inventory, as we talked about is very low. And in fact, there are a lot of buyers. So the buyers drive is very high. We're in a seller's market. What are the other things that they like to see as a love letter, a letter that basically introduces you and yours to the seller? And that's going to make the difference for a lot of people versus having somebody just submit the offer. Maybe it's missing this and missing that. Now the agent has to work a little harder contact that particular agent says, well, you're missing this document.

Connor MACIVOR Santa Clarita home experts radio (08:33):

You're missing that document. We need this to be complete so I can take it to the seller. If the agent doesn't reply or get back to the seller's agent, then the entire thing might just go away and they might submit those other offers that they received on the property. And the seller might not even respond thinking that the agents and apt or unable to do a good job. Why would they want to start a transaction with an agent like that? So as a real estate buyer, you definitely want to make sure you choose your agent carefully. All right? So finding that love letter is going to be, and I've, I've written how to basically write that letter without being too gushy. And, you know, without being too over the top without being too little, and I have that post at Santa Clarita, home experts.com, you'll be able to see that just search center, create a home expert and then punch in love letters.

Connor MACIVOR Santa Clarita home experts radio (09:28):

And you'll see the article. Now, one of the things in the love letter pictures is so important. So people just don't see a piece of paper with writing on it. They actually see a picture of people and they can kind of connect those people that offer with their own. Personally, it really helps. Now you do everything you're supposed to your agent let's say is good as gold. And they do supply everything that the seller would typically want to see. You have the approval letter. You have the proof of funds. You have the offer and you have a love letter. So all four things, boom. They package it together, everything looks good and claim and they fire it off to the other agent. They then call, as I would is I would call the other agent, I would say, did you get it? Did you get everything?

Connor MACIVOR Santa Clarita home experts radio (10:13):

Do you have any questions? Do you have any concerns? Do you have any comments? What are you looking at? When are you going to present? How many offers have you received? Where are those offers and prices? That's a tough thing to get an answer to a lot of times, but again, because they want to try to keep that playing field fair. They don't want to try to unduly influence or play anybody at this particular point. There's plenty of time to play. Once we get into the multiple counteroffer situation. And I'll explain that in a moment. So they're all ready. They have everything they said, they say, okay, this Thursday in the evening, I'm going to go ahead and present these multiple offers to my seller. And we'll see what happens. BA the client had me write the offer at full price. The client is going to pay their own closing costs.

Connor MACIVOR Santa Clarita home experts radio (11:01):

The client is 20% down. The client has good financing. The client has good proof of funds and the client wrote a very strong love letter. Everything's perfect. And the world can't imagine not being responded to good. It happened. Sure. Here's the thing. Now there's been a legal argument. I am not an attorney. So seek legal advice on this, but there's been a legal argument that if people give us seller writing an offer, everything they want, and if it's multiple offers and the seller chooses somebody else that there might be a recourse on that buyer's behalf. I haven't seen it ever come to fruition. That's just water tank talk or water hole talk, you know, the water cooler talk. That's what that is. But again, maybe something to explore. You really feel slighted. But at the end of the day, there is fairness in equal housing. You cannot discriminate against anyone at the end of the day, though, if it's a money issue, the seller does have a right to choose the person that's offering more money or a better offer in the way of financing.

Connor MACIVOR Santa Clarita home experts radio (12:14):

So if a seller did get multiple offers, the seller has choices. The seller could reject them all could counter back. One could accept one or could counter back all in different forms or counter back all the same. That's five. I probably have a duplicate in there, but that's the seller's choice. So when you do it right, that offer, it's not all said and done until the very end, when you've maybe gone back and forth, maybe you have addressed the counter offer that the seller said by signing off on it, or by changing your bid on the property, increasing your amount or maybe changing your financing, or maybe the seller wants some kind of rent back or wants to stay in the property a little bit longer after closing, maybe the seller wants an increased deposit. Maybe the seller would like to shorten the inspection timeframes for you as a buyer, just in case you find something you don't like and the sellers and willing to step forward that you have a chance to cancel and the seller can get back on the market without too much time, having a lapsed, lots of different things that a seller can respond with.

Connor MACIVOR Santa Clarita home experts radio (13:26):

But at the end of the day, if you don't get responded to it's probably for one of those other reasons, just don't let the reason be that you have an inept agent and they didn't submit everything that was needed when your offer was emailed over to the listing agent. Finally, let me talk about this. If you were a real estate seller and your real estate agent after all this activity brought you an offer stating that they got the buyer, the buyer came to them, but you had a lot of activity. The natural thing to think would be that's odd. All these people saw the house, but yet my agent is the only one bringing me an offer. So then the next thing that might come into your mind is I'm wondering if my agents getting offers, but not submitting them because they want to earn a dual commission in a lot of cases, in a few States, including Canada, for an agent to represent the buyer on the same transaction.

Connor MACIVOR Santa Clarita home experts radio (14:31):

It's not allowed, it's called dual agency. So in my mind, what I liked the best is when I'm totally on my buyer side and the seller's represented by somebody else, a lot of sellers like that as well, because not that they don't trust, but it's difficult for them to give their agent the full trust. So it's something that does need to be discussed. And I discuss it with my sellers all day long. They have the final choice, but in the end, a lot of times they would rather me be on their side a hundred percent or I would rather be on the buyers side a hundred percent instead of trying to work the same transaction because I do know the bottom line of the seller. And I know the bottom line of the buyer, it's best to have your own representative. And if you look just at the legal professions, that's how it always works.

 

Connor MACIVOR Santa Clarita home experts radio (15:24):

You're never hiring the attorney. That's suing you. You always hire your own attorney to protect you. So whenever you're approaching real estate, I would do it in that regard. But these are how the sellers can respond to offers that are submitted. The best thing you can do is to make sure your package is complete. Make sure you have a love letter. And you've included the time it takes to write something up relatively nice and having that submitted because that little action, everything else is the same, that little action could push you over the top when it comes to getting that property. And maybe you'll be the offer that was accepted without any countering or anything else, making it super clean and escrow super easy to open. I've caught her Mac Iver. I appreciate you watching this Friday, broadcast Santa Clarita, home experts. And I do appreciate you listening to, I get to listen versus I have to listen at the very beginning for my nine 11 rules for life. I'm Connor. Have a fantastic rest of your day and we'll see you this weekend. I am out and about Saturday, Sunday, if you need me, I'm here. Please check out Santa Clarita, home experts.com. Don't forget when you go there to search, save your search. So you'll get emailed the freshest, newest real estate listings at the moment they enter the market without, but maybe a few seconds delay be safe. I'm Connor MacGyver over and out. 

 

June 22, 2020

Hiring a Santa Clarita listing agent update for the Santa Clarita market 2020-174

Who do you want to hire?

An agent who is representing the home seller or someone who is representing you?

Not a trick question. The agent who is representing the home seller is under contract with that seller or sellers.

If you have your own buyers agent, and if they are utilizing a Buyer Broker Agreement, you are under contract with your own buyer's agent.

Having your own Buyers Agent to which you are under a binding contract with puts you in a position of advantage.

No entity can strip you away from having your own representative. They cannot push you into using their services and exclude your chosen realtor from being involved in your home buying process.

I have even entered new housing after working with a client for a time, only to have had them visit the new home center in my absence.

They innocently entered their information into a tablet in order to view the model homes, at the new home builder agent's request.

When they called me to show up because they wanted to buy a new home, I brought with me the home buyer broker agreement that we had executed and was on file.

Santa Clarita buyers using the sellers agent

I showed the new home agent, they had to call corporate and we had to wait a few days for the response.

In the end, my buyer broker agreement was upheld and I was allowed to represent my home buyers in the purchase of the new home builder home.

I have lost clients to new home builders before. The difference was I did not have a buyer broker agreement.

On the buyer broker agreement, there is a place that I could fill out and have a client sign that would give me the authority to go after that client for a commission if the client chose not to use me to be their agent.

I don't fill out that portion. If I have a client that is not happy with me, I'll never hold them to something that "forces" them to have to use my services in buying a home.

I have not had a client want to fire me as their buyer's real estate agent. However, even though that is the case, I always make sure that part of the buyer broker contract is in my buyer's favor.

The buyer broker agreement creates a bond like the bond between a listing agent and their sellers.

There is an official contract in place which creates the official agency and a bond that is contractually very strong.

Buyer Broker or Buyer's agent agreements are not to be taken lightly. Not that you are going to fire your agent, but look at the fine print and see if they are going to come after you for their commission if you decide to get representation elsewhere.

Santa Clarita home inventory remains super low

I was speaking with a client yesterday, a new client, he wanted to know the effect that COVID19 had on the Santa Clarita real estate market.

I responded, speaking with the lack of inventory, real estate was still moving at a blistering pace. With listings selling in sub 30 days. With having more homes in escrow than for sale and with the new home centers building new communities hand over fist, it did not seem to have much of an impact on sales.

The thing that it did impact was the number of listings that were available for sale. It hurt that statistic. From all of the numbers I have been able to research, we were on target to have a higher closure rate than the same time in 2019. 

However, January was good, February was better and March was on target to be stellar and that trend would have continued throughout the summer of 2020.

Covid19, the coronavirus quarantine was put into place early March 2020 and the Santa Clarita listing rate slowed down to a crawl.

This kept the Santa Clarita real estate market in the seller's zone and it has not left that zone in more than three years.

Please enjoy the show and I will be back with you in short order to continue to keep you updated on how the Santa Clarita real estate market is doing. Whether it's a good time to buy or a good time to sell real estate. With other explanations of how lenders work, how to get your best deal on a home loan plus other real estate educational topics.

PDF for Episode 2020-174 Santa Clarita real estate experts radio show

Santa Clarita market update by Connor MACIVOR (00:00):

Good everybody. I am Connor Mick today's Monday, June 22nd, 2020. And if you were like me, I wasn't sure that we would get here as a country, but here we are. So I do have a Santa Clarita real estate update for you. I've been doing this since 1998, and I have lots of videos online on YouTube. Also, lots of real estate podcasts and radio shows that I've produced over the years. This particular video will also be turned into a syndicated radio show, and it'll be publicized all over iTunes, Stitcher radio, and all of the other platforms out there. So looking at the real estate market here in Santa Clarita Valley, you can see over the last several months, we've actually even reduced further in real estate inventory. And that's created a lot of pressure on buyers out there because of, uh, even during COVID I was speaking with a client yesterday, a new client.

Santa Clarita market update by Connor MACIVOR (00:52):

They were curious as to what those numbers look like during COVID. Well, we had a seller slow down and that seller slowed down actually created even a stronger seller's market because we still did have quite a few buyers out there that were buying up real estate. So currently we are in the three fifties and I'll get you that, that exact number here in just a moment. So I can comment on that, talking about the local inventory and what those numbers look like. Now, one of the things I wanted to talk about was in regards to negotiation on real estate, a lot of people, uh, sometimes not a lot of people. It used to be a lot of people used to be the only resource you had was going to that listing agent. The one that actually had the listing, calling them, assigned, dealing with them, and attempting to use them to negotiate the purchase of that particular home.

Santa Clarita market update by Connor MACIVOR (01:45):

Now that's known as dual agency and dual agency. In my opinion, I don't really appreciate the process just for the simple fact that it's difficult for a real estate agent to play both sides fairly can some maybe bite at the end of the day, this is what is known the agent that's representing. The seller knows the seller's bottom line. The agent that's representing the U U, which is the same agent in this particular case. Also knows your bottom line. That's a lot of information for one person to know, to be able to play it safe on all party sides. Now, of course, they're supposed to act with due diligence and transparency and being totally upfront. But at the end of the day, when you're a real estate seller, you inform your agent that you're willing to take $525,000 for your property, but you're going to start the listing at $550,000.

Santa Clarita market update by Connor MACIVOR (02:42):

The buyer comes to your agent at it, no fault of your agent, because your agent didn't reveal it. The buyer says you know what, I'll offer this seller $525,000, not the listing price of five 50. So then your agent comes to you and says, Hey, Clyde, I have, I have an offer for you from a buyer that I was able to procure myself. And they're offering you $525,000. Well, now Clyde is thinking isn't that? Wasn't that my bottom line. So then we have a trust issue that kind of Wells up and starts. It doesn't happen all the time, but what I like is I like to be on the complete side of one party, either the seller or the buyer, that's where I find it most comfortable because then the gloves can come off and I can do what I need to do to get my client what they want.

Santa Clarita market update by Connor MACIVOR (03:40):

And I believe that's, everybody's dream in this business. All good agents want to get their clients what they want. That should be the ultimate goal. That's what keeps me in my business, doing a great job and

being busy because of that kind of mission statement, if you will, or code of ethics. So that's where I am in that process. So within that, when it works that way, like at new housing, for example, you have the opportunity to have your own agent represent you when purchasing a new home from a new home builder. Now, when you go to the new housing and you can find all of those at Santa Clarita, home experts.com forward slash new, sent a clue to home experts.com forward slash new. When you go there, you'll see all of the new listings that are currently for sale in the Santa Clarita Valley.

Santa Clarita market update by Connor MACIVOR (04:35):

When you go into a new housing development to look at the model homes, a lot of times you're going to have an iPad or some other device, or maybe even a piece of paper that you're going to be handed. And they're going to explain to you that the builder would like to know who is coming in and out of the model homes by doing so. And some of the builders are very good at posting this, but by doing that, by putting your name down, just stating that, Hey, my name is John Smith. I want to come to look at the open houses. Maybe it's asked for an email. Maybe you don't want to put that, but at least you put your name, maybe a contact number, or whatever. At that particular moment, you have just excluded your ability to have an agent on your side, represent you throughout the process.

Santa Clarita market update by Connor MACIVOR (05:20):

You have to then deal with the builder's agent, the builders real estate agent that's on their payroll. My suggestion is always to have your agent with you when you're viewing new housing from the very beginning, have them come with you, go through the process, explain to you. What's currently available. Just like I did over this last weekend. I had clients and I took them around to all the different new housing builders made those introductions, but I stood by their side and asked all those questions that really need to be asked, just like when you're buying a resale, the same thing your agent is going to do, they be working for you and they should be looking for any issues that could come up and affect your homeownership. So if they see something or they know something, or if they happen to know that something's going to be happening in this neighborhood, or maybe a street that was a col-de-sac is going to be opened up and it'd be a thoroughfare. That's kind of good to know, especially if you're going to be buying one of the houses, that's close to the end of the coldest act. Maybe the coldest sack is what attracted you to that neighborhood in the first place. So that disclosure, that understanding that local community is incredibly important. So let me go ahead and log in here

Santa Clarita market update by Connor MACIVOR (06:36):

And let's look at some inventory and then I'll be able to make comments as far as what's going on in the local market. And what I'm doing now is I'm logging on with my iPad, to the local board of realtors. And I'm getting into the saved search that I have, which is in regards to what's happening here locally. And that's going to be the inventory numbers. And then we're going to look at coming soon numbers, which is a new criterion that's been allowed to be placed within the MLS, which is something that you might not have access to. If you don't have a local agent sending you real estate listings directly through the MLS. So as of this morning, if you track back a couple of weeks, uh, that inventory was around four 20, four 30 as of this, and that was still low as of this morning, it's 365 active listings currently on the market.

Santa Clarita market update by Connor MACIVOR (07:30):

And when I run it, I run all the way through acting all the way through Valencia. So acting awkward, I'll say Castaic Canyon, country, new hall, sagas Stevenson, ranch, and Valencia. All of those cities, those six cities are considered at least as far as data are concerned as being within the Santa Clarita Valley. A lot of

people look at the more core cities as Casta Canyon country, new hall, Saugus Stevenson, Rancho, Valencia, but act on Oakwood. All Sarah is still part of our board. So every single listing that happens to be posted for sale, you'll see up at Santa Clarita, home experts.com because I have that data all the way through Los Angeles, Orange County, and all of those different areas, further South and also out East. But once you get it to Palmdale, Lancaster, that board changes. We'll have some data on the local sites, but a lot of times the greater antelope Valley board of realtors, just in case you happen to be looking out there, they're not going to be, they don't share their data.

Santa Clarita market update by Connor MACIVOR (08:30):

So it's going to be a little more difficult. So you definitely want to find that local agent out there. If you need a referral, I have that for you also. So please hit me up for any referrals here in Southern California, outside of Santa Clarita Valley, of course, I've ensured the Los Angeles quite a bit, Simi Valley, quite a bit for ensuring quite a bit, but at the end of the day, if it's too far and just as a post that I'm currently in the process of writing when an agent says that they're local, and maybe they're saying that they're local a hundred miles from where their office is, they might not really be local. And the reason why I'm saying that is local has to do with being able to function effectively, be able to have the knowledge and experience to be able to provide that protection security for their client.

Santa Clarita market update by Connor MACIVOR (09:17):

If an agent goes into another area to list a house for sale and doesn't know the local ordinances that Gover real estate selling in that local area, they can potentially get their seller into trouble or even their buyer. I'll give you a good example of that port wine, Amy, for example, if you don't do real estate and port white near me, or you don't have the experience of selling a house or houses in port wine, Amy, and maybe you're a Santa Clarita real estate agent, what ends up happening is when you take a listing over there, there is a portion of time that needs to be allotted for a city inspector. You register the property with the city and a city inspector goes out and looks and finds out. If there have been certain changes that our city-mandated over time, as far as plumbing and those sorts of things, if you don't do that, and let's say the listing happens to squeak by, without the city being notified, it's listed for sale.

Santa Clarita market update by Connor MACIVOR (10:16):

Maybe it's listed quickly and sells quickly. And maybe the city doesn't pick up on the sale, which usually they do, but sometimes they might miss it. Now there's a new buyer in there. You as a seller, very happy, you're happy with the performance of your agent, at least to this point. And you go on your Merry way and live your life within a very short amount of time. You're probably going to start getting letters or inquiries from the city, or maybe a potential lawsuit on behalf of the buyer of the property. The buyer that maybe even had their own agent, but maybe their agent wasn't local, either. Maybe their agent didn't understand the local ordinances or know that these inspections had to take place. So now the buyer is being fined by the city or approached by the city stating you need to take care of these items because they're city-mandated.

Santa Clarita market update by Connor MACIVOR (11:08):

Well, now the buyer's going to do what well, they're going to call their agent and their agent is going to say, Hey, I just represented you in the sale. You're going to need to talk to the sales agent, which is a little CS, but they shouldn't do that. They should be there for you, even in that process and admit to it, Hey, I didn't know that let's see how we can remedy this situation. But a lot of times people don't do them, they're not very, uh, they don't do the Maricopa thing very well. They just kind of pass it off to

somebody else. But at the end of the day, that's going to upset you. That's why it's important to have somebody that understands those local disclosures. The city regulations, same thing in the city of San Fernando city of San Fernando, not the San Fernando Valley in Los Angeles.

Santa Clarita market update by Connor MACIVOR (11:52):

The city of San Fernando is a separate city. When you're selling there. There's also city inspections that have to be conducted and the seller has to pay for those. But an agent could take a listing and it's not very far from here, probably 14, 15 miles from my front door here in Santa Clarita, to the city of San Fernando city hall. There, if I'm not aware of that, the property could potentially sell and close escrow. Then the buyer would be hit up by the city stating that you know, we should have inspected this property. And then, of course, everything runs downhill. And the agent that said, Hey, I'm local use me. Well, she probably should have said that because they didn't understand the local ordinances in Santa Clarita Valley there's lawsuit, tracks, disclosures, there are particular disclosures as well that you get as a seller to fill out as a real estate buyer from the seller on a property that you're wanting to buy.

Santa Clarita market update by Connor MACIVOR (12:48):

And they should all be the, it should be all of them. But in some cases, you have outside area agents listing a property in Santa Clarita Valley. They don't know those local disclosures. So sometimes they'll rely on the agent that is local. That may be the agent that has the listing. But if the agent has the listing, isn't from this board of realtors, maybe an outside board doesn't understand or doesn't have access to the local disclosures. Well, that could create issues. So again, maybe the question, the better question is besides where your office is located, if their office isn't within the city, you're purchasing it, maybe follow up with asking them some experience questions. What kind of disclosures am I looking at in a particular area? What kinds of city inspections are required? Is there like a retrofit inspection that has to happen to, for a company to come out and make sure there's a strapped water heater, for example, or a gas seismic, shutoff valve?

Santa Clarita market update by Connor MACIVOR (13:48):

It's important to hire locally. I'm going to get off my horse with regard to that. So let's move on to the inventory. So currently 365 active listings for sale in the cities that I mentioned, acted, Oakwood, all say Casta at Canyon Country, Newhall, Saugus, Stevenson ranch in Valencia. Now the other category, excuse me. The one that has been something that started from May 1st to May 5th. That's about the timeframe. This start it's coming soon. You're not going to see those listings on my website center created home experts.com because, uh, the provider that I get the listings from, which comes directly from the MLS. So they're going to be complete. They don't have that field yet. The other Sindecuse syndication sites, the Zillows the truly is the Redfins these, I don't believe they have that. They have been able to fix that either. So now the only place you're going to see a listing, that's going to be coming soon.

Santa Clarita market update by Connor MACIVOR (14:44):

The official coming soon, not the fake coming soon, which you'll see on some of the syndication sites. The official coming soon is going to coming from directly from the board of realtors website. And that's the only access there is through an agent. So if you're working with me, what I do after I get all your criteria about what type of home, including price range and the price range is important real quick, and I'll touch on it lightly. You may be qualified for $750,000 from a lender, but that's $750,000 payment is going to be painful for you after you work on your bills. And of course, lenders have a certain ratio that you have to meet. You can't exceed it, or you can't qualify for whatever amount that is. You have to be

within a certain 12 five for seven 50. You have to have a certain minimum bills, a certain minimum of income and so on and so forth.

Santa Clarita market update by Connor MACIVOR (15:37):

So that's how you're approved. But at the end of the day, you might look at that payment and you might say, Ooh, that's a little heavy. And it looks like I'm only going to have X amount of dollars left to go to Disneyland, which we love to do. So going to Disneyland. Cause that's a that's, that's a very expensive item, even going every once in a while now. So you want to have that money in reserve. And if you have too high of a mortgage payment, even though you're qualified for it, it might end up meaning that you take fewer trips to Disneyland. Therefore your family might not be as happy and so on. So even though you're qualified for seven 50, look at that payment and see how it fits. Maybe 700 is a better bet, maybe six 50 and lower is a better bet. That's the case. Then make sure your agent just like I do make sure your agent adjusts, that search to all pull in listings that are under that particular amount or at that amount. And under that's important to know because if you don't, you might see got a frog in there. You might see listings that are over your comfort zone and may fall in love. And then it may start. You may want to start to gravitate towards that forgetting the old rule, your own rule that you created.

Santa Clarita market update by Connor MACIVOR (17:02):

I think I got the frog out of there now. So let's get back and if I have to pause it again, I will. All right. So coming soon listings currently 13 are coming soon onto the market. And again, the cities that I ran or act in all the way through Valencia, that's all that's listed. I believe that this category is going to become much more prominent in the near future. It's still too new for agents to really wrap their mind around, to see the advantage. Also, once the listing is taken by an agent, they typically want to get that listing on the market as soon as possible. And that's fine. But the thing that does a seller, the most harm is to release a listing onto the multiple listing service before it's completely ready by ready. I don't mean by being ready to be shown by ready.

Santa Clarita market update by Connor MACIVOR (17:52):

I mean, being, having all the advertising and marketing built before it is released, that includes the professional photographer. That's going to go out to the property and take the pictures, having it completely cleaned, having a decluttered as per the instruction of the agent that does the walkthrough because we, every listing all go out to the listing. I walked through the listing and I point out things that need to be changed. I point out things that need to be modified and in some way, brought to a different standard than I do this because I work with a large number of buyers. I know what buyers are looking for. So if you have a house that has walls completely covered with photographs, for example, my instruction is going to be, let's get rid of those. And then look at the underlying wall. If those pictures have been there 30 years and you take them down and there are outlines on the wall of where they were because the paint underneath has been protected for 30 years, but the paint out here has not.

Santa Clarita market update by Connor MACIVOR (19:05):

That's on the outside of the frame, you're going to have to take those pictures down and repaid. Why? Well, people that see real human beings and photographs have a difficult time imagining themselves in the house. They have a difficult time imagining that house as being theirs. And they're not being anybody connected to it. The best way to have a piece of real estate looked at as far as a resonance goes, something that people are going to live in, not a piece of land. I don't know where you put pictures on a piece of land, but where somebody is going to actually live. You want to depersonalize it, get rid of

all of the pictures that have real human beings in them, and then fix those spaces behind them, their nails in the walls. You want to patch those. And if you have to go through removing a whole bunch of nails, because you have a wall full of pictures and then retexturing and repainting, that's also good.

Santa Clarita market update by Connor MACIVOR (20:00):

When people see a house that isn't cared for and is falling apart, they automatically think discount. And they think that the price that's been established is usually too high. Even if it's not even if the agent talked to their client in that regard, the seller and said that we're going to do an adjustment to allow the property to sell in its current condition. A lot of times those buyers aren't thinking that way and their agent isn't either. So really you want to get those things fixed. Now, when it comes to taking a kitchen that might be outdated and putting in a new kitchen in order to get it to sell, that's really not great advice, but that's also market dependent. If you have five properties that are exactly like yours and you're competing with all of them, but all of them have upgraded kitchens and they're all listed at $500,000 and yours has a 30-year-old kitchen, where are you going to list?

Santa Clarita market update by Connor MACIVOR (21:08):

Or are you going to match them with a kitchen and then listed $500,000? So these are questions that are very market-dependent, and you have to see how fast those properties are selling today. It is a seller's market. There's very literal little that sellers need to do to the real estate listings to get them to sell. They just have to be priced accordingly. They just need to be priced in the realm of fair market value. And if you're thinking about a price at 700 to seven 10, I would say you should be more considering a price at six 99. If you're considering six 66 70, I would say, you need to be below six 50. So a lot of the real estate search engines are pulling in $10,000 increments and in some cases, $50,000 increments. So it's nice to have your home scene. If somebody's searching at 700 and less, if, of course, you're, you were thinking seven, 10 or seven Oh five.

Santa Clarita market update by Connor MACIVOR (22:08):

You want to be below that next hundred thousand dollar figure. And then also in the $50,000 case, if somebody's searching at six 56, 49 would be a good place to be, to get your house seen by more people. These are little tactics, little strategies that actually help in the long run to sell real estate. But as I stated before, releasing that listing onto the market before all the marketing and advertising have been packaged and put together is a mistake. The final reason on that is this real estate syndication website, Zillow, Trulia, Redfin. , these entities pull that data once it's published, they're operating for the entire country. Well, in fact, even another in other countries as well. So they're pulling a lot of data to update. Every few moments is almost impossible unless you're working on a local real estate website, like Santa Clarita, home experts.com.

Santa Clarita market update by Connor MACIVOR (23:06):

So when they pulled their data, you might not see any change your agent makes and the next week maybe they put that listing on the market, but they're not going to get the pictures for a few days. Well then when they upload the pictures, it's going to take time for those pictures to populate those other websites. So it's going to be naked for a while when people are searching, maybe people are searching in that particular neighborhood, and then you have a competitor come on. The market that was advertised, had their advertising and marketing prepared before it was released. That being the case, that property goes into escrow and yours is still sitting. So make sure your agent has a plan and explains

 

that plan you with regard to how they're going to prepare the advertising and marketing portion of your listing before they release it into the world.

Santa Clarita market update by Connor MACIVOR (23:52):

I hope everybody's enjoyed today's Santa Clarita, real estate update. I am Connor MacGyver when you're ready, reach out to me and I will be here for you. I hope your week is blessed and I hope pleasant, and I hope everything you want comes your way. When you're ready to reach out to me, please check out the number one set of creating a real estate blog. I know that because we're the top part of the search Santa Clarita home experts at the top tab, you can click on our blog or if you're a better typer type in SantaClaritahomeexperts.com forward slash blog. And you'll be able to see this particular video show and all of the other updates that I do on a multiple, multiple days per week basis. Be safe. We'll talk to you soon and until next time over and out. 

June 19, 2020

Santa Clarita real estate inventory lowers and closing costs negotiation update

 

The Santa Clarita real estate market is very alive these days, even with all the unrest in the world, we cannot seem to keep over 400 residential units for sale to save our lives.

That is a great thing for the home sellers in Santa Clarita Valley. Their homes are going out with multiple offers in short order, even if they are not dialed into the 9's.

The time in which it takes to sell a Santa Clarita home, if priced right, is quick. The viewings are through the roof in the first few days and the offers will start coming within day 1 for those buyers that are tired of not getting what they want due to the competition that exists in our local market.

Santa Clarita home expert real estate agent connor macivorWhen you are ready, please reach out to yours truly. On this real estate broadcast, which is syndicated everywhere, you will find that I discussed real estate closing costs and the best ways in which to approach them if you are a home buyer. 

In a buyer's market getting the sellers to contribute to them is not much of an issue. However, today - it is that the Santa Clarita Valley is in a Seller's market - it does not happen often, if at all.

This is the transcription from today's real estate video broadcast for the Santa Clarita Valley cities.

Remember that you can search for all the real estate listings for sale on our Santa Clarita home experts' website without having to register. 

All I would ask is when you are ready to get the listings sent to you at the time they post, save your search on Santa Clarita home experts.

PDF from the Santa Clarita real estate show for June 19, 2020

Santa Clarita real estate expert Connor Macivor (00:00):

Good day everybody. I am Connor MacGyver. Welcome to Santa Clarita, home experts and we're online. Santa Clarita, home experts.com Remax agents headquartered here in Santa Clarita Valley, serving greater Los Angeles cities. And I'll tell you, we have a very exciting new show for you. This update, we are here on the 19th of June, 2020, which is going to be Friday, and we're going to get into the real estate information right now. Now, one of the things you might want to know, if you haven't sold a house, maybe haven't purchased a house. Maybe you're a first-time buyer, or maybe even a first-time seller. What are those costs going to look like for you to be able to do so who pays? What and how can you maybe get discounts on those sorts of things? I'll get into that here. After I get into the real estate news again, Connor MacGyver, Santa Clara, home experts.com.

Santa Clarita real estate expert Connor Macivor (00:52):

All right. So let's talk about inventory in Santa Clarita Valley. We have seen a very low level. In fact, this morning on this Friday 372 active units for sale in Santa Clarita Valley. Now I'm just not counting the cast. Stay at Kenya country, new hall, saga Stevens, Rancho Valencia. I'm also including act in an Aqua Dulce because of course, they're very, very close to our Valley. So 372 is basically incredibly low. And I'll tell you that because of the absorption rate figures, the time that it would take to sell every real estate listing that is on the market currently if in fact norm no more were listed as of today, we would run out of all real estate listings, probably without them within a month or a month and a half. So that's very low for that statistic to be more in a healthy range.

Santa Clarita real estate expert Connor Macivor (01:46):

You're looking six to eight months of available inventory, and we've been low for the last four years. You can see the graphical information pertaining to that by going to Santa Clara, to home experts.com forward slash blog. And you'll be able to see that information as well. So let's go ahead and talk about this. So I'm going to move back from the active listings and I'm going to look at what's an escrow because a lot of times when people are searching online, they're running into real estate syndication websites that are stating, Oh my God, there's 1600 available listings here in the Santa Cruz Valley. It's not, that's not true. Um, they do this because it gets a lot more clicks, right? So currently in Asgrow, 581 listings and all the cities that I'd mentioned before, act and awkward, I'll say Cal state, Kenny country, new hall, sagas statements, Rancho Valencia.

Santa Clarita real estate expert Connor Macivor (02:38):

The reason why that's important is it shows a couple of things. It shows that properties are selling properties that are in fact moving. And it also shows that there is a high buyer drive or a buyer, uh, lots of buyer confidence in the local market. Also with regard to the home sellers, it is a seller's market, but you couple that, that with low-interest rates for buyers, when they're originating loans or wanting to buy a new property under their name, those rates are incredibly low 3.5 or even less. Also, some of the people are asking, well, how much does it cost to buy a house? Typically people can borrow with an FHA loan, which seems to be the most forgiving now with the advent of COVID and everything else with the quarantines and being out of work and such as a lot of people have faced and are still facing.

Santa Clarita real estate expert Connor Macivor (03:28):

We have seen that the FHA loan product is really, really the best. And you can get into a house with three and a half percent down. If you're a veteran less, if you're looking for potentially a USDA property, which is a whole other animal for another show on another day, you'll see that those are also zero

down. There's not that many, they're more agricultural types of properties, but they do exist. So my best advice to anybody that's looking to buy a residence is definitely give me a call. Let's walk you through the questions to ask lenders, to make sure you're getting your best deal. And then less let's also advise you on which lender might best suit your needs because it is not all one size fits all proposition. There are specifically different lenders that I believe add a lot of credence to the game of loans and can definitely help out various people.

Santa Clarita real estate expert Connor Macivor (04:19):

It just depends on what you happen to be looking for. In addition, most lenders should be savvy enough to walk you through the repairing of credit. Also, they should also have resources also twice. They should have resources that will help you clean up credit or get your credit in order. So you'll be able to finance real estate. That's just a question to ask. And again, don't go broke trying to have your credit fixed. There's a lot of things and lenders are pretty savvy. There'll be able to guide you as to what you might be able to do on your own and firing off letters to the credit bureaus. Having them contest, contest things on your behalf. It's not a complicated process. And really the winner of that game is timing. So it's going to be how busy is the receiving party on the other end.

Santa Clarita real estate expert Connor Macivor (05:07):

And if it's not your debt, it's not your debt. So that would be the letter that you would scribe to send off, to get your credit in better form. All right, so let's talk about that. So we had 581 listings that are currently in escrow. Something that is new and had started somewhere around the 1st of May is going to be a category in the multiple listing service service service to the Southland regional association of realtors. This has been established all the way from the top down. So the national association, California association that our local board of realtors and they have decided that it's a good idea to put listings agents have the ability to put listing, excuse me, into a coming soon or a CS category. Uh, right now there's 15 of those listings that are coming soon. So they're not on the market yet to get access to those though you're going to have to be married or at least have some kind of relationship with an agent such as me.

Santa Clarita real estate expert Connor Macivor (06:06):

So I can generate those and send them to you directly from the board of realtors now to see the listings that are currently available for sale, what I've done is I've made registration not mandatory, your personal information, not mandatory at Santa Clarita, home experts.com. That's a local MLS driven real estate search site. It's mine. So when you do see stuff you like, or when you do like the machine or when you do want to save your search, I ask you to do so. And also when you do save your search, you're not going to be hammered by anybody, not even yours truly. And I'm the only person that's going to see any of your personal or private information periods. I promise to keep that confidential, not let that out to anyone else, uh, secrecy, whole nine yards. All right. So we're moving into the 15, uh, coming soon listings, price of admission to purchase residential real estate.

Santa Clarita real estate expert Connor Macivor (06:59):

If you happen to be a buyer, one of the things that you're going to want to consider, well, three things that you're going to want to consider, and that they're all called closing costs. So closing costs is something to be aware of and that's what you're going to pay. So let's say you're buying a house. If we had one for sale at $300,000 and above and beyond that, within that, you're going to have your down payment. So that's going to be within that 300, cause it's all contributing to that price above and beyond

that are going to be your closing costs. These are going to be those extra fees that cost you to buy a residence. A lot of first-time buyers out there even second or third time, buyers are really unsure of how I get paid. The agent that's representing the buyer.

Santa Clarita real estate expert Connor Macivor (07:40):

I get paid by the seller. Whoever the seller is seller could be new housing could be a new home builder, could be a resale housing. The seller could be in contract with our company, with me, with another agent. Of course, my recommendation to all my clients is always, you never want to use the listing agent to purchase real estate because at the end of the day, they're going to know your bottom line may also know the seller's bottom line and it's unbelievably tempting to maybe do something not kosher. So my recommendation is just to steer clear of that and hire your own agent to represent you as a real estate buyer, which I do very well. But when you are ready, we'll approach the seller. And that way I'm able to negotiate 100% on your half on your behalf. But again, who pays me, the seller does whenever you're talking as a real estate seller, you have closing costs as well.

Santa Clarita real estate expert Connor Macivor (08:33):

You're going to have your part of the title and you're part of escrow. Those are fees you have to pay as a seller as the real estate buyer does as well. They have their parts of those two fees, escrow, and title. The differences are the seller is responsible for the agent's commission. They're hiring. And the seller also pays the agent. That's going to be stepping forward with the buyer. So the seller is responsible for those fees, the buyer, the third fee, they have not the commission, but the third feed that a buyer has, it's going to be their lender fee. How much is all this will typically, if you use big numbers, about 3%, 1% per each, some lenders are less expensive depending on the house price. Usually that title insurance fee for the buyer and escrow fee for the buyer, they changed depending on the price range of the home.

Santa Clarita real estate expert Connor Macivor (09:27):

So it is all priced dependent with a home buyer. The lender's fee is somewhat of the wild card. Now, of course, there's rules and regulations, but at the end of the day, they can charge a pretty hefty fee to get you a loan. Plus it's not only the fee upfront they're charging you. There are all sorts of stuff built-in, in that contract, or that a good faith estimate or net sheet that a lender would give or a good faith estimate. So this is what I would suggest, always be upfront with your lender, that communication you have with your lender or other entities in the real estate process. Just make sure you put everything in writing. For example, if a client calls me and says, Hey, Connor, I was talking to you earlier and you know, your rebate program, you're going to give me X amount of dollars back.

Santa Clarita real estate expert Connor Macivor (10:14):

If I use you to seal the transaction, blah, blah, blah, or whatever it may be. I say, Oh yes, sunshine, rainbows. Everything's perfect. Cotton, candy, and uniforms. In fact, you're going to say, well, you know what? I'm going to go out and follow up with Conard in an email. So you sit down at your computer, you pop out an email, you say, Hey Connor, listen, I thank you for your conversation earlier. I know I was asking about your rebate program and you said, and you want Connor to agree. Same thing with the other entities. If you're talking to a lender and you're going to see that the local lenders are going to be a lot more nimble, uh, even probably more so than credit unions and banks, there seems to be a very overbearing bureaucracy at big banks and credit unions. Some of the big banks are trying to break the mold.

Santa Clarita real estate expert Connor Macivor (10:59):

Some of the credit unions have as well. I've been part of these different advantage type programs for credit unions, but at the end of the day, if somebody is going to be taking my client for a ride, as far as on the lending side of it, I'm not going to have it. And I will tell them. And anyway, I'm not any longer the program for some of these different places, because I saw those fees were extraordinary, really big, and they could have gotten better service, a better fee and a better interest rate somewhere else. And what did I do? I told them, so there I am the center, but again, it's all about the client. And as long as I retain the client, as long as the client trusts me and I've earned that trust, then I have business beyond measure. So I'm good with that.

Santa Clarita real estate expert Connor Macivor (11:44):

And I will continue to do that. But with the lender, these are things that you want to look at. And of course, following up with them in an email is incredibly important. So with those closing costs, with a home buyer, there are ways to potentially get the seller to pay those. So you have your down payment with FHA, which is three and a half percent. So you can do the math. And then if you move into 3% for closing costs, in some markets, the sellers might be able to contribute to that or allow you to finance it. Totally. For example, let's say 3% of $300,000 is $10,000, which it is. So if you're buying a $300,000 resonance, typically closing costs for a buyer could be as much as 10,000. Then the question comes in, do you need to have that money in your bank account?

Santa Clarita real estate expert Connor Macivor (12:34):

So you can contribute that to the transaction before closing or when you're making your offer through your agent. Are you able to get the seller to agree to pay for it? Maybe so depends on the price of the property. It also depends on the market in a buyer's market, potentially you could get that done all day long in a seller's market. Probably not. It's going to depend on the residents. It's going to depend on the time on the market and it's going to depend on the seller's attitude and what their, what their desire or urgency is to sell their home. There's a property on the market that let's say for round numbers is $10,000. From what I ran over the fair market value price, we might be able to get away with offering the full price and asking for 10,000 back, they're buying some way kind of allowing you to finance those closing costs.

Santa Clarita real estate expert Connor Macivor (13:32):

If there's a property that's 10,000 underpriced, we might offer 5,000 above and ask them to contribute 10,000 in closing costs, which basically you're buying the property for 5,000 less, but you're able to finance all of those closing costs at the end of the day. So there are different ways to do it. This market, the current market for this particular real estate podcast and radio show, probably not going to work very well for a buyer. So to step up and purchase real estate, those closing costs are typically going to have to be taken care of by you now different agents. I have a rebate program that I put together because I don't pay the syndication websites for leads. I don't pay those other portals online. I have a very robust housing blog that a lot of people read that's at Santa Clarita, home experts.com forward slash blog.

Santa Clarita real estate expert Connor Macivor (14:20):

You can go there, look at all the articles and content, but I don't pay the real estate syndication websites or Google paper, click or Facebook or Instagram or Twitter for sponsored ads. What I do is I give that money back to our clients. So check that out, please. And you'll see that at the homepage at Santa

Clarita, home experts.com. When you get ready to purchase real estate or sell real estate, I always suggest that sit down with a consummate real estate professional. And again, as long as they're active in local in the cities that you're interested in, maybe they have a radio show like me or this video show like I do, or a podcast. Maybe they do a lot of writing on the blog but makes sure that they are who they say they are, make sure they are local and make sure you're not getting caught up in some kind of real estate syndication scam, where they're basically selling your information in the form of leads to agents that might not be familiar with the area, understand what's going on one of the clients.

Santa Clarita real estate expert Connor Macivor (15:18):

And we do a lot of the virtual showings now because of COVID because the quarantine and also we've always done it really with a lot of remote viewing for clients that are outside the state of California or outside the city, they can't come to look now while there's a lot of awesome virtual tour companies out there, you have Matterport, you have high power, you have all these different types of the virtual door companies and they do a really good job. You click and you follow through. If you've seen these on my site center for your home experts, you'll see those 3d tours they're navigating through the house is great, but having somebody walk, it is even better FaceTime. Take the camera, flip it over. We have a landscape view of the residence, and then I can pull back and look open up the closet door, scan the closet door, look under the sink, tell you what I smell, which is really important for people, especially ones with pet allergies and those sorts of things.

Santa Clarita real estate expert Connor Macivor (16:13):

I'm able to point that out. And those are things that you're probably not going to see an MLS listing of the very front. They're probably not going to say, Hey, the seller's a pet lover, lots of pets in the house. They're probably not going to do that. Just like you're probably not going to hear about the sellers of smoker loves to smoke in the house. That'll be very apparent when I walk in because I will tell you now with residents to, with properties, there are other smells, other feelings, other sense, moisture dampness, those sorts of things. Those are also good to be called out. And at the end of the day, if a client wants to make an offer on a residence that I did a FaceTime walkthrough with, that's fine because in the very close future, right after that offers written and gets accepted, they're going to have their inspection time, which starts immediately upon that offer being accepted or countered, and then finally executed by all parties and accepted.

Santa Clarita real estate expert Connor Macivor (17:09):

Then what the buyer's going to want to do is we're going to want to get those inspections scheduled. After those inspections are scheduled, then probably that's going to be their first glance at their real estate in person. Now, in some cases, some agents kind of freak out about this. Some sellers kind of, aren't really appreciative of that process, but with the COVID strain and these issues going on out there with the quarantine and the pandemic. And so on, some of this really works well. It's going to depend on the seller. The buyers prequalified has given a prequalification letter has looked at the house, is dealing with an agent, or working with an agent that has a good reputation. An agent that just goes out and writes offers for people. Site unseen does no followup as if they're just testing the water and the same agent working with unqualified buyers that don't fly.

Santa Clarita real estate expert Connor Macivor (18:01):

But if the agent has a good local reputation and the other agent knows them, a lot of times this is going to work and it's going to work very well and it's going to work seamlessly. So you're going to then go out

 

after those contracts, that contract happens to be accepted. And then you're going to do that walkthrough through the residence with the home inspector as well. And they're going to be doing the research that during that home inspection timeframe, you're going to have a chance potentially to either follow them around or maybe venture outside and go harass the neighbors a little bit. If there's anybody that's going to poke their head at how to head out, I would always recommend, of course, doing that due diligence with your neighbors and other people that impact your property in some way, shape or form, maybe across the street, maybe next door, they have shared walls or shared fences.

Santa Clarita real estate expert Connor Macivor (18:48):

Maybe the backyard has shared fences back there as well. It's good to kind of see what that, uh, the foliage growth is for maybe over the fences, if they have other trees or bushes that might be getting into the property, that might be something you want to handle in the beginning via crest for a request for repairs before it becomes an issue, maybe pushing on your fence, making a wall, a potentially crack and fall or other issues such as those. These are things that, that real estate professional that you're hiring. Somebody like me will be able to walk you through and explain all parts of that process. Now, at the end of the day, your real estate business is your own. At the end of the day, remember you as a seller, you as a buyer, the boss, if you have a particular price point in mind, or if you, as a buyer, don't want to go above a certain amount, you believe a house is only worth X amount of dollars versus what your agents read con has revealed.

Santa Clarita real estate expert Connor Macivor (19:44):

You're the boss. You should still be able to set that price. And at the end of the day, it's going to be up to your agent to either say, okay, I'll write it for you. Or maybe you want to go hire someone else. The second part of that usually does not happen. Most agents, even though they're told in their training to definitely refer those sellers, that seem to be hardheaded, as they say in training, or have an unrealistic listing price. A lot of agents won't say that they'll say, okay, we'll go ahead and listen to that. And again, in a buyers or seller's market, probably not an issue because there's going to be so many buyers. Eventually, it's going to get sold, but there's nothing like being in that sweet spot. I'm Connor MacGyver. I hope I hope this has helped guide you in some way, shape, or form.

Santa Clarita real estate expert Connor Macivor (20:34):

Uh, real estate inventory is very low. We've dropped almost 60 units from only a week ago. So you can see how real estate's being eaten up. And there is a high buyer drive, right? I do believe that we're going to continue to see that high buyer drive. And as soon as we get a little bit more of this quarantine put to rest, I believe we are going to see quite a few more listings and maybe end out the year on a very, very good note. But again, election, all sorts of you have the protests out there. You have, you have the world just amazingly different than even a year ago. I'm counter MacGyver. Thank you for watching when you're ready and reach out. And Santa cradle, home experts.com is where we are Connor MacGyver over and out. 

The Santa Clarita real estate radio show and broadcast is not supported by anyone except Connor MacIvor with the Santa Clarita home experts. I do not allow for ads and other "clickbait" when it comes to my real estate business and the front-facing real estate website - Santa Clarita home experts (dot) com.

I'm Connor and I'm glad to be of great service to you and yours. Reach out to me when you are ready and I'll help you with all that is real estate.

June 18, 2020

Santa Clarita real estate daily news

The Santa Clarita real estate daily news and events are for all readers, our clients and those who aren't.Best Santa Clarita agent

The BIG 5 Santa Clarita real estate daily topics

I was getting service at the local Autonation Dodge dealership and I received a phone call from the local newspaper wanting my input on a story about the current housing and real estate market.

Some of the "other local agents" that he had spoken to had a doom and gloom story to relay.

He was surprised to hear me being very objective about the real estate and housing market in the Santa Clarita Valley.

Apparently, the information he had received up until the point that he contacted me was a bit dismal in its delivery.

Hence, I give it to you straight.

Operating the most read blog pertaining to the Santa Clarita real estate market is quite a responsibility. I realized this long ago and liken it to my past position of being a Police Officer for the LAPD.

Not that times have changed much, it's still the job of a police officer to protect and to serve the public trust. Today, it seems that some may have lost their way or it's their time in the crosshairs.

Either way, I'm glad I have built this current business of being a Real Estate agent and am happy hearing the stories and keeping my clients happy and safe.

To report on the Santa Clarita real estate news daily, to post the events, and to keep my readers engaged, there are 5 items that are the most important from a home buyer and seller perspective.

How many Santa Clarita real estate listings are currently for sale

This is number one. Without a Santa Clarita home to sell, we would have nothing left to speak about, expect "Boy, I sure wish there was a home to sell..."

The local Santa Clarita real estate inventory changes on a minute by minute basis. I report on this during my social media interactions and do a daily dive into the local housing inventory. 

I want to know several different things as it pertains to the homes that are currently on the market for sale in the Santa Clarita Valley.

First, I want to know the total number of residential listings. I deal only with residential listings in my Santa Clarita real estate business. Residential is considered Condos, Townhomes, single-family homes that are attached and detached and multiple-unit buildings from duplexes, triplexes, and quadruplexes.

When I'm pulling the data for the Total number of Santa Clarita residences for sale at that time, my posting and Santa Clarita home news update pertain to properties like these.

Geographical area - I speak about the Santa Clarita Valley - The cities of the Santa Clarita Valley are the following

  • Acton
  • Agua Dulce
  • Castaic
  • Canyon Country
  • Newhall
  • Stevenson Ranch
  • Saugus 
  • Valencia

These eight cities are generally considered to be a part of the Santa Clarita Valley. 

(if you are interested in a city that is not on this list, hit me up, I have developed expertise in other Southern California Areas to represent both buyers and sellers therein)

The Santa Clarita number of homes for sale includes the condos, townhomes, and single-family homes that are currently listed for sale in the Multiple Listing Service.

It also includes the Coming Soon real estate listings contained within the Board of Realtor's database.

I do not "makeup" or "engineer" real estate listings on my Santa Clarita home experts website. That is something that I see from time to time within some of the real estate syndication websites to get a "click" or obtain someone's personal information to be sold, watch out for this online real estate trick.

How long is it taking to sell those Santa Clarita homes on average

This is referred to as Days on Market. DOM - it's the time that a home is active on the multiple listing service until it gets an accepted offer and enters escrow.

Currently, we are in the neighborhood approaching 22 days, on average, between when a home is listed for sale, in all price ranges, in all cities, and within all residential building types, to get it into escrow with a qualified home buyer.

how long does it take to sell a Santa Clarita home

Month Days to Sell, Average
Jan 46
Feb 38
Mar 26
Apr 23
May 22
Jun 31
Export as CSV
Time frame is from Jan 2020 to Jun 2020
Property Type is 'Residential'
City is one of 'Canyon Country', 'Castaic', 'Newhall', 'Saugus', 'Stevenson Ranch', 'Valencia'
Results calculated from 1,315 listings

The data that was researched was within the cities of Castaic, Canyon Country, Newhall, Saugus, Stevenson Ranch, and Valencia.

I want to give the best data points for those of you who may be interested in real estate. Buying, selling, or if you are an owner wanting to explore the real estate market and don't want to tie up with anyone in person asking them, "how is the market"?

This "average" Days on Market research is very price dependent. If there is a home listed for sale that is within the Santa Clarita real estate "Sweet spot," the days on market time is going to be hours if not days to get into escrow.

Let me show you what I mean. I'll take one of the most popular cities - Valencia and give you the days on market average for a single-family home between 450k and 600k with at least three bedrooms.

Santa Clarita real estate priced to sell homes

Month Days to Sell, Average
Jul 2019 23
Aug 2019 27
Sep 2019 36
Oct 2019 24
Nov 2019 20
Dec 2019 18
Jan 2020 30
Feb 2020 28
Mar 2020 22
Apr 2020 14
May 2020 21
Jun 2020 27
Export as CSV
Time frame is from Jul 2019 to Jun 2020
Property Type is 'Residential'
Property Sub Type is 'Single Family Residence'
The city is 'Valencia'
Current Price Range is 450000 to 600000
Bedrooms Total is 3+
Results calculated from 216 listings

As you can see - we are lower when the homes are in one of the most desired areas priced in that "high frequency" home buyer zone for Santa Clarita real estate.

Months of Inventory in Santa Clarita real estate

How many months of inventory do we have if no more homes were listed for sale?

This data takes into account the frequency that homes are currently entering escrow and is a good indicator is market health or non-health.

months of inventory Santa Clarita real estate information

Months of Inventory
Month 2018 2019 2020
Jan 2 4 2
Feb 3 3 2
Mar 2 3 1
Apr 2 2 2
May 2 2 3
Jun 2 2  
Jul 2 2  
Aug 3 2  
Sep 3 2  
Oct 3 2  
Nov 2 2  
Dec 3 1  
Export as CSV
Time frame is from Jan 2018 to May 2020
City is one of 'Canyon Country', 'Castaic', 'Newhall', 'Saugus', 'Stevenson Ranch', 'Valencia'
Current Price Range is 450000 to 600000
Bedrooms Total is 3+
Results calculated from approximately 3,700 listings

A healthy Santa Clarita real estate market that is balanced is somewhere between 6 and 8 months of real estate inventory. During the past two years, we have been as high as four months of real estate inventory, and that was in January of 2019.

We are definitely in a Santa Clarita real estate seller's market and have been for better than four years. (06182020)

This is a great indicator and one that is often overlooked by Santa Clarita real estate professionals.

The data set that is best used applies to the corresponding city or zip code. When inventory is more robust for at least 6 months or more, I set the search to be more neighborhood-specific for the clients that want the information drilled down to a more precise nature.

Average Sales prices in Santa Clarita real estate

When crunching the numbers in Santa Clarita real estate for my daily housing reports, I always look at the overall average sales prices within the Santa Clarita Cities.

I pull the data set for Castaic, Canyon Country, Newhall, Saugus, Stevenson Ranch, and Valencia. When I do, I then make sure that I select everything residential.

This will include where my home buyers want the information from, primarily, also, what the homeowners and home sellers are looking to view.

As of the date of this Santa Clarita real estate daily article, we see that the average sales price has been climbing since January of 2016, where my graphic chart begins.

Santa Clarita real estate average sales prices

Sale Price, Average
Month 2016 2017 2018 2019 2020
Jan $480,740 $509,587 $562,334 $545,885 $603,238
Feb $499,355 $497,217 $545,492 $528,177 $555,453
Mar $496,701 $506,854 $574,546 $557,016 $587,850
Apr $483,880 $516,633 $543,857 $566,027 $605,989
May $508,191 $542,834 $574,162 $580,567 $575,987
Jun $516,781 $553,219 $577,351 $574,937  
Jul $517,780 $528,836 $574,325 $609,563  
Aug $509,683 $554,044 $571,051 $585,873  
Sep $523,874 $546,480 $565,189 $584,786  
Oct $506,427 $534,050 $554,194 $592,638  
Nov $492,935 $533,635 $549,996 $582,446  
Dec $514,914 $547,149 $564,944 $592,424  
Export as CSV
Time frame is from Jan 2016 to May 2020
Property Type is 'Residential'
City is one of 'Canyon Country', 'Castaic', 'Newhall', 'Saugus', 'Stevenson Ranch', 'Valencia'
Results calculated from 16,289 listings

In order to really get a good grasp on the Santa Clarita real estate market, one must look at more than a single month - maybe a quarter of information or six months. This will give a better understanding of the housing price trends that exist on a local level.

This is the method that I implement when I'm speaking about the trend Santa Clarita housing prices are undergoing from a historical to a present perspective.

Currently, the home inventory is super low. The Santa Clarita valley, as stated, is in a total seller's zone. With the low inventory and the low-interest rates, you have the perfect storm where both typical real estate parties are wanting to move. (buyers and sellers).

Compiling the Santa Clarita real estate data and the buyer drive

We have covered the aspects pertaining to homeowners and potential home sellers. What about the homebuyers?

While we have home buyers with varying levels of experience, most of the first time Santa Clarita home buyers are going to start with being referred to an agent or finding someone like me online during a google search.

We always start the same way with our home buyers, with the market and what to watch out for as we explore their experience and add our own.

The players in real estate are typically the same. You have the agent who you are hiring to represent you as a home buyer. Then there is the agent who is representing the homeowner, aka the home seller.

If you are a home buyer that is interested in buying a Santa Clarita new home, then you are going to have the home builders real estate agent and the home builder's corporate-level contact (like the seller).

Then you have a real estate lender, bank, credit union, or mortgage broker. This is the money source for the home buyer. There are very few home buyers that are cash purchasers. Most homebuyers of Santa Clarita real estate need to obtain financing of some type.

When that is the case, homebuyers often want to know who is paying what? Is the homebuyer responsible for paying me my real estate commission? No. I get paid by the home seller, which includes on a home for sale that is not my listing and also new home centers and new home builder communities.

However, the homebuyer that it's seeking financing in the purchase of their Santa Clarita home is going to have to pay their lender, their part of the escrow fees, and their part of the title insurance fees.

A Santa Clarita real estate recap show would not be complete without a dissertation on the current buyer drive.

What types of financing is prevalent in the current market? Are the home buyers looking for fixer opportunities, or do they want turn-key residences?

What is the buyer competition like and are sellers able to obtain multiple offers on most listings?

What are home buyers able to get the sellers to cover their closing costs?

Are they are to get their closing costs financed, or is the market so competitive where the home buyers have to pay all their own costs?

Finally, is there a specific lender that is a better deal than the others? What should a buyer be looking for in the present market to get their best deal from a mortgage broker or their bank when it comes to getting a home loan?

I'm Connor Macivor and I have been representing home buyers and home sellers since 1998. I have found that trust is the hardest to earn from any real estate buyer or seller and I'm glad for that.

There are a lot of people in the real estate industry who aren't in it for their clients, just their wallets.

When you are ready to look to our Santa Clarita home experts website and search freely for all of the real estate listings that are currently for sale in the Santa Clarita Valley and other Southern California cities.

There is no mandatory registration. Just do yourself a favor, save your search so you get the newest and freshest real estate listings at the moment they hit the market for sale.

I'm Connor and I have said that :)