Santa Clarita real estate on Patrol
Welcome to our "On Patrol" segment in Santa Clarita Valley. This is everything to do about real estate and I'm your local real estate agent Connor T. MacIvor. Not in the cloud, but really a real person with real offices where we can meet if you desire at 25129 The Old Road, Suite 114, Santa Clarita CA, 91381.
BTW - H. Ret. LAPD regular for 23 years - Full Time and Reserve!
If you are going to be heading to our offices and want to meet, make sure you contact me and get a response. Feel Free to do so Via Text Message at 661.400.1720. Let me know who you are and then let me know what you are wanting in real estate.
Some options are the following:
"I want to buy a home"
"I want to sell a home"
"I want to discuss the real estate market"
"I want to know the right questions to ask a lender to get my very best deal"
Those are the most common text messages I receive when you are ready, throw one my way and I'll be glad to be on your side 100% and get to the bottom of what you want to know.
Patrolling the Santa Clarita Foreclosures
There aren't many foreclosures or distressed real estate listings in the Santa Clarita Valley cities at the present time. In fact, during this "Santa Clarita on Patrol" segment, we have 6 distressed real estate listings currently for sale.
A great question is how are they priced. One is a short sale and it's priced way under fair market value. This could be for a couple of reasons. 1. It could be a strategy that is commonly used on homes that are not distressed where there is a high buyer drive. They could be wanting multiple offers in order to get the price higher and higher during the highest and best-countering process.
2. It may be something that the agent took upon themselves, in the case of a short sale. That is why it's so very important to have comps ran to see where real estate is priced and if the listing price is high/low or just right. The issue is that the bank(s) who is/are on the loan(s) are going to be sending out an appraiser to the short sale home. If the home buyer thinks they are going to be able to get the home, even if the sneaky agent said so, at a 30% discount, they are wrong. Remember, banks do not lose!
3. Future market value on the foreclosure. It could be that the banks are focused on a 90 day in the future estimate of value. If the market is increasing, per their agent's eyes, then you may be seeing a distressed and foreclosure home that is priced too high. Only the market and time will tell, but to be certain, as said in #2 - banks don't lose.
When it comes to looking at foreclosures, they should be handled in a much more business type manner. The bottom line is not what you do for a living, how wonderful your family is, or how attractive you are, the bottom line with any of the financial institutions that have REO's - real estate owned homes to sell is that they are looking to make the most money from its sale.
Lights and Siren Listings in Santa Clarita Valley
During the past week while on patrol I showed over 100 real estate listings to my home buyers. Each of them was priced well and really couldn't wait on the viewing. The market is experiencing a subtle change where homes and real estate, if priced right and listed in an area with a high homebuyer drive, will sell quickly, even within a day.
While on patrol in Saugus, one of our clients had us write an offer on a home that if for sale. This was on Tuesday where the seller commented to their agent they wanted to wait until the open house has been held during the upcoming weekend. Is that a mistake for a home seller to wait? Maybe or maybe not. I will tell you one thing, buyers that stop looking after the have written an offer and received that information from the seller that they are going to wait, aren't done looking. We will be heading out tomorrow and the weekend.
I hope the seller is getting good advice.
During the holiday season and up to about a month before November the brakes were applied to the Santa Clarita real estate market. I will be the first to tell you that we had seen the market slow down where homes started to experience many a price reduction. We also observed that a lot of homes had their contracts canceled to afford the homeowners to do the 90 days on market reset.
Lights and Siren mean to hurry up and don't wait for anything. Of course, not all the listings were in the Lights and Siren category that had entered the market during the past week. In fact, I viewed my fair share of "overpriced" real estate listings with my clients. I'll tell you that once you show a home buyer enough homes, they start to be able to "price them" and make very educated comments as to whether the home is priced too high or just right for the market.
Moving from Castaic to Saugus to Valencia. A new to Santa Clarita Valley couple commented that Castaic CA was just too far. Actually, Castaic from Valencia is 4-7 minutes to the freeway exit.
They also commented that Saugus CA is too far from the freeway and that they have to commute to Los Angeles during rush hour times.
Castaic and Saugus aren't for everyone. We will be sticking with Valencia and Newhall for these clients.
However, I have plenty of loyal referral and new home buyers that want to live in Castaic and Saugus - the hard-earned dollar goes farther in those areas and the schools are excellent!
Final Roll of Code Three - lights and siren. During this past week, I observed a home that was in horrible share with pictures in the MLS that were from a time when the home was pristine. When you are viewing homes than see the home in person, you may want to arrest the agent your self for misleading the public. Don't fret, that is why we look at homes in person before writing offers.
Go to Jail and do not pass GO in Santa Clarita Real Estate
Two items that made this list of Santa Clarita's Most Wanted in Real Estate. While these crimes are not really violations of law, they are misleading as all get out.
One, which I already spoke about had to do with the misleading photos. That is not okay no matter how you slice it. The buyers, all buyers, get turned off quickly unless the listing price of the home is dramatically underpriced and remains so even when fully repaired/updated.
Two, Showing Time appointment center. This is an extra step for most real estate agents that have time on the job. Those agents like me that have shown tens of thousands of real estate listings to date. Showtime is something that the Board of Realtors pays for their membership. Being a Realtor I have access to that system and can use it to relieve me of having to schedule showings with my home seller.
Sounds like a great idea, the problem is that with every single showing, I need to get confirmation from the listing agent of the status of the home. Some new agents will tell me that MLS is updated daily. HA - Have you any idea how many homes I have shown that have had counter offers out? By the time we see the home, while still showing "active" in the MLS, the home enters escrow? Even worse, we get back to the office and when I call the agent to tell them that I have awesome home buyers and a great offer that was just sent they respond, Oh - the seller just accepted an offer.
Unfortunately, when agents are using this home showing scheduling system, it requires an additional step by the agents who are doing their due diligence when it comes to vetting the homes they are showing their home buyers.
Left Right Center - Accessing Santa Clarita real estate
The current housing market is starting to pick up. We had a couple of home buyers who were given advice from their dad. That is GREAT, unfortunately, it was the wrong advice as to the home they were looking at was one of those that I had commented on earlier in this article. It was priced well in an area with an exceedingly high buyer drive. It got scooped up at higher than listing price and that was still a great deal due to its turnkey status with a view!
If you are interested in the Santa Clarita Valley real estate market I will tell you to keep the focus on your front sight. Keep your finger off of the trigger until your sight are aligned and you are sure you are ready to shoot.
The interest rates were held during the last FED meeting. That should keep the Santa Clarita real estate moving. Those rates won't hold and if you are holding out for them to go lower, I would not bet on that one bit. The real estate market has recovered. The bubble is something talked about at dinner parties, but for the life of me, I don't see where it would be coming from.
Remember, if they are saying the instability in the Stock Market - people that see the stock market in flux buy tangible assets. They buy gold, silver, platinum and real estate. So that would be good for the market.
We will have only about 550 real estate listings for sale that are live and available. This is ultra low and keeping prices steady. If there were to be a doubling of housing inventory in the Santa Clarita Valley you would see a correction/adjustment of housing prices. Unless the buyer drive were to increase at that same time.
We will have more inventory come this time in May. We will also have a heightened buyer drive ending March 2019. I can say this because past real estate and housing markets in the Santa Clarita cities recorded such.
I'm Connor your Santa Clarita on Patrol Realtor. When you are ready to reach out to me and I'll take great care of you. Please tell a friend as I'm always honored by referrals.
Call me when you are ready.
Please check out my Housing Radio radio show where I speak about everything that is real estate in and around the Santa Clarita Valley cities. Each week I have our local real estate radio show and podcast where I discuss current housing inventory and how days on market is relating to the buyer or sellers housing market.
The local businesses are always something that I love to spread the word about. My friends, where I go during my weekly travels, are always listening to the show so they can stay on top of the Santa Clarita real estate market.
Feel free to drop me a line if you want a particular radio show topic, I will oblige or direct you to a past episode where I discussed what you are wanting me to talk about.
We are with the REMAX Gateway Brokerage with real live offices at 25129 The Old Road, Suite 114. When you are ready, reach out to me and I'll schedule you a time to sit down and help you with your real estate needs.
First and foremost, I'm all about trust and honesty. I'm all about education of the real estate clients that seek me out to work with me. We have a great crash course on real estate that I give for every single home buyer that is wanting my representation.
I also represent home buyers with new housing. Make sure that you are not signing anything when visiting new homes or housing. Just a simple exchange of name and email address on an interest form will stop my ability to represent you which would have been at no cost. I love negotiating with the new home builder's agent. I know their lingo and we are able to make great things happen for my new home clients.
SCVnew.com is the site where I have posted up the new home communities in the Santa Clarita Valley - check it out.
BE well - I'm Connor and I'm here for you when ready.