Santa Clarita real estate radio on YouTube - Update February 18, 2020.
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During the last few months, the Santa Clarita Valley has been moving along as is typical for this time of year.
As I explained on this Travel Tuesday Broadcast, we have lacking inventory, but that is very usual from before the holidays to about Mid March. That is how a healthy real estate market functions.
There is so much more to know about the housing and real estate markets from the point of view of a home buyer, a home seller, and an experienced and knowledgable realtor.
When you are ready, call me and I'll get you on my calendar so we can talk about the housing and real estate market to ensure you are making all of the right decisions.
Connor with HONOR (00:01):
Two words for you before I start. Today's broadcast, goblet squats, goblet squats, are awesome, look them up. Of course, whenever you're going to start to exercise, seek a doctor's opinion. Have to say that, and I make sure they're going to clear you to do goblet squats. But anyway, look them up. They are a lot of fun and I've been noticing lately my knees are really tight, especially when I get on the leg extension and I feel like they're gonna explode. It's just because I wasn't properly stretching. So anyway, here's today's broadcast, Santa Clarita, a Longest running radio show for everybody, almost daily. I wanted to talk to you about trends in the market, things that are still continuing even past the holiday season as or getting or we are deep into Quarter one or Q1 of 2020. Now, currently, uh, we're at February 18th, 2020. We just got my Valentine's day and hope you didn't listen to your significant other.
Connor with HONOR (00:57):
If they happen to tell you that they don't want anything for Valentine's day and they don't believe in it, that sort of thing. Hopefully, you did perform because that's a trap. Being married 28 years, 29 years. That's a trap. It'll fall for it in the future. Just to let you know, inventory in Santa Clarita Valley, 333 units for sale as of Valentine's day. Specifically, I was running the numbers. Then a couple of days later we were in the three fifties that number is going to fluctuate as it does all year round. We are going to see the one uptick and real estate listing start here in the next month, month and a half. I put some graphical information at Santa Clarita, home experts.com forward slash blog you'll be able to look at that and you'll be able to see how that yearly trend always changes where we have the months from just about October through about March, you'll see a dip in real estate inventory and then throughout the rest of the year, you'll see a building of real estate inventory and also consumption depending on the market.
Connor with HONOR (01:55):
Now our consumption or absorption rate for real estate is not very healthy. We do have limited supply and we do have a little bit more demand and that supply is able to replenish. Now if we get into the summer months, you'll see a shift in the market. If in fact we start to get more and more inventory and that buyer drive continues to be where it is today, which isn't awesome, but we'll have to keep, uh, we'll keep you appraised and we'll keep watching. Now, uh, inventory super-low mortgage interest rates are also very low. Buyer drive has slowed down a little bit, but that's to be expected through the holidays. There doesn't seem to be any looming problems coming towards the real estate market from anywhere. Interest rates are low. Again, there are no games that were played back in the last height of the real estate market and the fall of that particular cycle where you had a lot of the subprime lenders loaning money and doing it without a lot of checks and balances as there are today.
Connor with HONOR (02:53):
You can ask anybody recently that Scott alone or has gotten a loan for real estate. Uh, there's a lot of vetting. There's a lot of approval through the processes and there's a lot of verification, not just at the very beginning to get you approved, but also throughout the entire escrow process. If you happen to be escrow in escrow, they're going to be verifying the items that you said that was true in the beginning are still true as you move through that particular process. Now our relocation agents, we do run into those quite frequently and they seem to be the ones that are turning over those properties because there are a lot of people relocating to the state and leaving the state. Now, the relocation agents I'm talking about are tied up with an organization that does corporate relocation, so as part of your package, if you happen to be a fancy CEO or some type of an executive or work at a company that offers a relocation package to you, that's going to be part of your process.
Connor with HONOR (03:55):
So if you're going to be moving from a, they want to relocate you from here in Los Angeles over the, you know, somewhere in Wisconsin, that's great. Typically they're going to pick up the tab for a lot of what your typical expenses would be. A lot of times they're also picking up the tab for your agent and in doing so they're going to have an agent that they select that's on their list that they're going to refer to you. Now what we've found over the last several years dealing with agents of this type, some of them are great, a lot of them seem to fall short, so all we did is I had a couple of clients and this happened a few years ago and that's what kind of got me into it as well. Working on the relocation and without actually being reassigned or assigned to a relocation account or with a relocation company, I understand that you have the choice all.
Connor with HONOR (04:45):
Ultimately you have a choice on the agent you select. Most relocation companies don't. They don't mind a deviate from the agent that's going to give them that referral fee that that 25 30 40 whatever percentage it is. They don't mind if that's coming from the agent you select. A great couple I was working with. We got to know each other quite well. I had them out, showed them properties. The Mister didn't realize that he had a relocation part of his human resources package or the business package with the organization he was working for. I didn't realize it was in place. So after we'd spent a lot of time together, we got kind of close. So when it came down to it, they said, well, we're telling. They're telling us that we have to use one of the agents on their list. I said, well, fight it a little bit.
Connor with HONOR (05:33):
Don't put yourselves out. I get it. You know, I, I understand if that's the way that play needs to be done, however, fight it just a little bit. Low and behold, they complained just a little bit and they sent me the proper paperwork for me to be the representative giving the referral fee back to this organization, the referral company. Anyway, it was all done. Found them a great house in the Valencia one area. They're older homes but fantastic across the street from old orchard. Just wonderful, very, very happy. Now understanding you have a choice and that also includes a lot of the services that are selected. If you happen to be a seller of real estate, a lot of agents are going to say, we have to use these people for escrow. You have to use this. The end of the day, you're the seller of the property.
Connor with HONOR (06:17):
You do have the choice and as a buyer, you also have choices as well as a real estate buyer. If you're looking in the market and you're wanting to purchase real estate, you can choose your agent. Of course, you get to choose your lender. Of course. Now, a lot of agents are going to say, listen, I have a great lender and a lot of cases that's true. They do have good lenders because these lenders have performed, but again, at the end of the day, it's your choice. If you ever come into my office, we sit down and we do your prep course on real estate. We're going to discuss lenders and lending and if you happen to be bringing somebody to the table, that's great. I don't want to take any food out of their mouth. However, just like I hope somebody would watch my process if they do seem to be taking advantage of you by what they're charging, what that loan looks like or whatever, I will mention it to you, period, because if I didn't just like anything I ever found out about a piece of real estate that I happened to be selling, I would disclose that to my buyer, 100% full, because at the end of the day, it's important you're buying the house.
Connor with HONOR (07:24):
It's important, you're happy, and it's incredibly important that I don't bend or change or modify or hold back any information I become aware of, even if it's not verified, have to put it out there and have to tell my clients. Now, check out the blog, Santa Clarita, home experts.com forward slash blog you'll be able to see all the latest articles. I think I wrote a half a dozen last week talking about the local market and real estate. This is the longest rating podcast, longest-running podcast, and real estate radio show. Remember, I'm Connor MacIvor Remember goblet squats. Those are awesome. I didn't use a dumbbell. They say to use a dumbbell and hold it this way. I used a plate. I started with 25 and then I went to a 45-pound plate, but nice deep-felt good on the knees. Enjoy that tip. I'm Connor MacIvor. When you're ready, we'll have you come. We'll sit in my office right here. You'll be able to see the background and everything and we'll talk to you about your real estate needs, what you're looking for, and the best way that we can accomplish those goals. I'm Connor MacIvor re max Santa Clarita, home experts.com. It's a pleasure. Thanks for watching it. Be safe.