I'm Connor MacIvor and I have been representing home buyers and home sellers since 1998. I'll be there for you when you are ready.
I represent various types of real estate interested.
- Homebuyers, first time and veteran - LEO - all types
- Homesellers, all types
- New home buyers - if you want our new home rebate, make sure you don't sign anything or give up any personal or private information.
Santa Clarita real estate market news experts (00:00):
Good day everybody. Connor Mac, I have a Remax Santa Corita home experts.com. When is a real estate market as tight as a tiger? Well, I'll tell you if any real estate market can be that tight, whatever that means we're in it. 243 active units for sale in all of the Santa creative Valley cities from acting through Valencia. So act and awkward LLC, Casta Canyon country, new hall, sagas, Steven Serrano, Valencia, that's it 243 active units for sale. And that's all residential folks. It's gonna include condos, townhomes, and single-family residences. So today is August 12th, 2020, and this is your real estate update with this market. We see buyers really crawling over themselves when it comes to trying to find that home to purchase. In fact, I've had several people contact me that have been working with relocation agents, thinking that I have some secret sauce and besides working and hardly sleeping and never taking days off or vacations, that's all I got.
Santa Clarita real estate market news experts (01:02):
But at the end of the day, this is how it happens. Whenever there's a listing that comes on the market for sale, I'm going to give you the dynamics of this. So you understand how the process works. There are a couple of different categories in which the agent can select when placing a listing on the market for sale. As of May of 20 May 2020 of this year, May 2020, there was a new category put into the multiple listing service. So hence two, one of them's coming soon. That was a new category and then the other one's active. So the coming soon listings can take up to 21 days to propagate and actually switch to being active. They're not gaming you with these. These are real live listings, and you're only going to see it. If you have a connection with a local real estate agent, that's working for you and Cindy your listings.
Santa Clarita real estate market news experts (01:50):
Now, I want to tell that Santa Clarita home experts as the number one visited block platform in Santa Clarita for real estate, which is true, but I will, I will tell you that coming soon listings aren't, they're coming soon listings aren't on Zillow or realtor.com or Redfin or homes.com or Trulia coming soon. Listings are only available from indirect agents to feed on the multiple listing service to their clients. So what happens is you come to me, you say, Connor, I want you to search for my real estate, three-bedroom homes in Valencia in this particular area, let's say Creekside, and give me a price range. And then I do that. And then those listings that you're going to get emailed, they will also include any coming soon listings that enter that category before they're actually published as active on those other websites. We talked about those websites that are scurrying to try to grab this data.
Santa Clarita real estate market news experts (02:51):
But as of this point, the board of realtors isn't allowing them to have it. Now, there are other boards of realtors in Southern California that don't really care. So they're getting the coming soon feed on our board and they're going in publicizing it on these sites, but you're missing some if you're relying on those systems, because again, most of the agents in Santa created value list of the majority of the real estate for sale are members of our local board, the Southland regional association, and they have the access to the coming soon listings first. So you'll see those by having that relationship with that real estate agent. Now, where does that help you? It helps you in preparation. It helps you in being able to be positioned. So when that property does actually flip to active, you're able to be one of the first in to see it.
Santa Clarita real estate market news experts (03:42):
And if you're interested in it, you can then have your agent write a good offer because the research has already been done. The comparable profile is already been looked at. Everything has been dotted and
crossed and all of that stuff. And you will then be able to make a move on that property without very much delay. Now it's really not the case that the first offer wins. The bid, usually sellers look at the offers that are received and they balanced them against each other. And then they come up with a game plan as to how they're going to respond, or are they just going to select one of the offers or they're going to respond to everybody or respond only to a few encounter offer process? Or are they just going to accept one right off the bat? It depends on the seller, but in most cases, most offers are going to be countered and they're going to be counted in the way of what's called highest and best.
Santa Clarita real estate market news experts (04:32):
So they're going to be sending out this counteroffer to the agent, representing you, whereby the agent representing you is going to send it to you. And you're going to see it a lot of times, these counteroffers, especially in this market, depending on the seller. And also the agent can be like playing big-league hardball versus in a different market may be playing high school ball, or maybe T-ball. But in this case, some of these counters look very difficult to contend with because what do they do? They're not only asking you to give your highest and best offer as a buyer, but they're also asking you to constrict your contractual timeframes that are allowed and irregular contracts. Can they do it? Sure. Do you have to agree? No, but you might have other people that are in the counter offering process willing to give up some of those rights.
Santa Clarita real estate market news experts (05:28):
Now they're not taking much away. What they're doing is they're restricting timeframes. I'll give you an example and a counteroffer that we received recently, instead of having 17 days for the buyer to do their inspections on the property, they only gave him seven. And then in that same case with that buyer, instead of having 21 days to get a loan, they offered 15. And then they also asked that buyer to provide for them their highest and best offer that they're willing to pay also with their best financing in place. So for example, if you have a buyer on a piece of real estate and I'll talk about best, if you have a buyer for a piece of real estate that is maybe going in FHA loan, and then they get that highest and best counter, how can they make their offer better? Well, they can, they might be able to make their offer better by regard to changing their financing.
Santa Clarita real estate market news experts (06:22):
If they're capable from FHA to a conventional loan. And that's how that offer gets made better. The other betterment of the offers comes in the way of maybe constricting, timeframes, waiving, certain contingencies. Those things do occur in real estate contracts. And again, you're going to have to have your agent explain to you whether those are smart things to do or crazy things to do. And they'll know the difference. There are some counters that I've gotten for clients that are absolutely ridiculous. And in fact, I wasn't the only one that felt that way. And those types of counters actually get buyers in trouble and really caused them problems down the road. So make sure that you're working with an agent that has your best interests in mind, that explains to you each of the items and the counter. So you understand perfectly about what you're about to get into about that journey.
Santa Clarita real estate market news experts (07:14):
You're about to embark on with regard to shrinking different timeframes or whatever it may be. Now, the other part of the highest and best is going to be, of course, the money offered on the property. You offered a certain amount, there are multiple offers. Maybe that property is going to go out at higher than list price. You just want to be able to check and make sure where that value is. That's why that coming
soon the field is actually important because it does give your agent time to do that research. And of course, everybody's going to go to Zillow, just click that. You're not the owner punch in an address. You can see what that is. The estimate is, as they say, you go to truly, you can see what that one is. You can go over to red fancy with that one is, but at the end of the day, the best comparable value workup is going to be directly from the MLS listings.
Santa Clarita real estate market news experts (08:00):
And that's best done by your real estate agent because they're going to be able to search either tracked or radio. And they're going to be able to send you the information that pertains to the value of the property. So you're best prepared. So if you offered $500,000, you're in a multiple offer situation, you want to give it your best shot. You might offer a five Oh five or five 10, wherever your comfort level is. In addition, I'll throw this at you real quick. It's important that you have a lender nimble enough that you can contact during these odd hour negotiations. And that's what happens a lot. If you're working with lenders that are only available nine to five, Monday through Friday, and not available from 12 to one during lunch during that time, but they don't have any availability over the weekends after hours, or even during the holidays, this isn't that market for that type of lender.
Santa Clarita real estate market news experts (08:48):
You need a lender that's very nimble and you need lunch. If it's going to be on top of things, able to respond to you very quickly. And in fact, we have those types of lenders that our clients work with day in and day out, and we are blessed to have them and they do a great job. Just reach out to me. If you need lending advice, I don't do loans, but I do have some of the best available by telephone, email, and text message. And they will call you after hours during weekends and holidays and serve your lending needs. So let's get back to the market. The way that it's working currently is usually there are multiple buyers within two or three days on the residential real estate for sale they're in there. They're interested, they're looking, they usually have comps polled. And then depending on the price range is going to depend on if this property is going to get multiple offers or not.
Santa Clarita real estate market news experts (09:40):
It's not bad, easy to gauge, but I'll tell you that that sweet spot out here right now is anywhere between about 450 to 475,000. And the top end is going to be six 50 to 700. That's a sweet spot in Santa Cruz, real estate listings in that price range, single-family residences three-plus bedrooms don't last, but a day or two before they start getting offers in on them. If they're in the coming soon field, there is a possibility of you being able to see those even before they become active. It's going to depend on your agent's relationship with the listing agent and whether or not the listing agent has permission from their seller to actually have the whole house shown early. What it is going to be though is they want this property at full market saturation with marketing and advertising before they actually start looking at offers is they're received.
Santa Clarita real estate market news experts (10:37):
Typically that happens at the time of publication. When that listing goes from coming soon to active status, when that happens, folks, then you start to see that listing starts to propagate interest. People are starting to look at it. People starting to find it online. They're starting to see it, all these syndication websites. And again, at that time, if an agent's worth their salt as a listing agent, they will have all the photographs, all the virtual tours, even a click-through virtual tour and all that online information finished beside the coming soon pictures, usually coming soon, pictures are going to be just a couple of
shots from the phone, which are great. But again, it's not going to give you that full depth of any real estate listing as would a virtual tour and professional photography. After that listing gets full market saturation. And again, that should be happening when the listing goes active, it takes two or three days, but it reaches everywhere.
Santa Clarita real estate market news experts (11:32):
At that point. The sellers are typically starting to entertain. Those offers, received the rules to keep you safe during the pandemic and COVID are out there. Face masks are required. Gloves are required, hand sanitizers placed at listings. There's a lot of help. And also the buyers are instructed not to be touching anything when going into properties, leave that to your agent, move and open and close and these sorts of things. But again, everything needs to be disinfected on the way out. And again, that's your agent's obligation. There are fail-safes in place. In addition to that, there are documents that you, as a buyer do need to sign before getting allowed access. As the sellers have reviewed these documents and the sellers know what's going on. If the seller has some family member of somebody that's been exposed to the virus, then, of course, they're not to show their home.
Santa Clarita real estate market news experts (12:23):
So there are rules that have been implemented in that way. I don't know of anybody except one story that I heard of somebody maybe showing a home that did have some kind of a covert infection. I believe it was in Pasadena. There's a lot of untruths there. And of course, there are three versions, right? You what's true. And then of course, what you tell the buyer. So we really don't know what happened in that circumstance, but again, all of the properties of Santa Clarita that I've been showing, they're all adhering to the Pete guidelines. These are the guidelines to be able to keep everybody safe from COVID. Everybody has Masada, everybody's white gloves, the whole nine yards. So I see it very safe out here to show properties. It just isn't as nimble as it used to be. Now we have to actually set up appointments with every single listing.
Santa Clarita real estate market news experts (13:09):
There are no vacant go direct properties out there, even though they might be vacant. There is no go direct. Everything has to be blessed by the seller, the seller's representative. So that's how it's working currently. And you're in a good spot. Just make sure that you have somebody that's going to be diligent and on those listings, if they're initiating the sin to you from their MLS system, that's great. Just make sure that they're available to be able to recon any of those properties that you might show interest in just to make sure that you're well covered when it comes to seeing those properties for sale. When you're ready, go to Santa Clarita, experts.com forward slash blog. You'll be able to see this particular video and also our radio show where I basically take these videos, strip out the audio and I attach it into the radio show format.
Santa Clarita real estate market news experts (13:55):
And that's our podcast. You'll be able to see all of that information. Anything about real estate, anything about loans and lending. You have questions, you have concerns. You have comments. You want to have your question or comment aired on our radio show. No sweat. All you have to do is just email it to me and you'll be able to get that firstname.lastname@example.org under the contact link at the top I'm Connor MacGyver. It is always a pleasure local agent headquartered in Santa Clarita Valley. I'm going to be out in Simi Valley. We took a listing out there that you hit at the end of the week. So we do have a pretty good area of expertise around Santa creative Valley. If we have somebody wanting to buy in Paso
Robles. Yes, unfortunately, I have a great agent there by myself. Don't go and serve just because it's important to have that local consummate professional that knows the ins and outs and the intricacies of real estate in a particular city because the rules and applications change from city to city. We have you covered about 10 to 15 miles to 20 miles and a radial circle around Santa creative Valley. When you're ready to reach out, if you want to be referred to an agent, if you're outside that radio search, I'm here. I'm Connor Mac either. Thanks so much for watching this week's real estate broadcast. Santa's created home experts.com, be safe over and out.
I'm Connor MacIvor and I'm so glad to be a part of your day and part of your real estate experience.
When you are ready, reach out to me and I'll take great care of you regarding all things real estate.