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 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

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 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 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 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 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 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.