JIC - you were wondering, this is a transcription by a piece of software. I take our Housing Radio show and have an online system transcribe it into english. It's not great - the radio show is better, but this does connect some of the dots for those of you who don't want to listen and want to read.
Speaker 1: 00:00 Good to everybody. Connor MacIvor welcome to our real estate radio show. You know I heard something the other day I thought I actually read it. It was very very interesting. It talked about buying real estate versus finding real estate. And it's never been easier to find real estate right to search for homes. They're everywhere but by real estate has it gotten easier it's actually gotten more complicated and difficult because of all the.
Speaker 2: 00:24 Lawsuits that have come about by people wanting to buy real estate that was slighted in some way shape or form. Of course attorneys right they go and they invoke that person's right to have a lawsuit to sue these other parties and then usually in a roundabout way we'd get a new document some kind of new disclosure. So that gets added to the pile of disclosures we currently have and that pile is ever increasing. You go to a state like Oklahoma, for example, we had a motor cop. We represented a sale of a property upon retirement and awkward say he went to Oklahoma. Not very many pieces of paperwork there when he bought a few acres of land and an improvement which is a house right. He bought this in Oklahoma. Not a big deal to sell the water out here we sell out about an inch and a half.
Speaker 2: 01:12 We're going to get into more details about disclosures what you need to know. Let's go out and get an inventory today. This is, of course, housing radio dot com. You can find all of our real estate radio shows there I am Connor MacIvor and I am your host longest running real estate radio show here in Santa Clarita Valley. I'm with ReMax Gateway Remax of Santa Clarita and Valencia and I'm proud to be at your service.
Speaker 3: 01:36 We're going to look at real estate inventory here in just a moment but first let's talk about some of the intros on today's real estate radio show which had to do with searching for real estate never being easier.
Speaker 2: 01:48 And there are a lot of listings out there that you can find online with today. One of the things that you might want to be wary of-of course when you are searching online making sure those listings are the real deal. And yes there are people out there that will place fake listings online to try to get what they try to get you to give up who you are so they can sell your personal and private information to those willing to pay for it and who's willing to pay for it. Folks were being tracked everywhere we go. I'm not talking I've been a conspiracy theorist kind of a way or NSA or Big Brother government. But you go to the supermarket and you punch in your code saying that Sir Loin for a lot less than you would pay if you didn't have your phone number if they didn't know who you were.
Speaker 2: 02:34 So you punch in your code. Now the Shirlow is that of 10 9 10 dollars 9 9 cents a pound you get it for four dollars nine cents a pound so you're proud of that data. Now they know that you buy Sir Loin and you buy toilet paper and you buy this particular type of toothpaste and of course, with that, they have your address probably an email address or at least phone number they might be able to text message. Lots of different things they can access in order to check out who you are. Find out what you purchased and the like with that that's good information as far as the people that make products are concerned the marketing and advertising companies. Same thing with. Having to deal with real estate.
Speaker 2: 03:20 You are putting in that information you are punching in who you are. Maybe you are inquiring about a question but you have some kind of a search habit maybe online on this non-SSL encrypted websites. Maybe you're looking for information about three bedroom OEMs that are listed for sale in the city of Valencia that is priced between 450000 and 660000 dollars.
Speaker 3: 03:47 Maybe that's your comfort zone as far as for purchase those systems are going to track that data. Be wary. The best system to search on would be something that's based on the multiple listing services. So there's an enforcement mechanism there an agent can't take listings that aren't real and put them on there without some negative repercussions heading their way.
Speaker 4: 04:07 The Board of Realtors enforcing and saying Listen mister agent you put up a fake listing here we're going to find you and if you do it again we're going to remove your ability to be a licensed real estate agent and make money with regard to commission and the representation of buyers or sellers of real estate.
Speaker 5: 04:24 You will no longer be able to be a realtor which is a big deal and that's the enforcement mechanism that's why sites like Sevy Nasscom housing radio dot com.
Speaker 6: 04:37 Those are actual Multiple Listing Service websites that function within here Southern California where we're headquartered. Now Center for Real Estate again it's never been easier it's the buying part. Are
Speaker 4: 04:47 you going to need that expert advice in addition to that when you do team up with a real estate agent when you're ready for that decision. They should sit down with you and explain the entire buying process as far as how it works. The questions you should be asking no lender on the other side of it if you're trying to sell real estate routinely we go into people's homes prior to contracts and we sit down and we look at the home we give it a once over and we explain you will get your money out of this kind of improvement you're not going to get your money out of this kind of improvement. This is how I would prepare your home. Best First Sale this is the OPs the the pros and cons of staging a home hiring that kind of a design professional who will come in to your residence and give it a once over and make those other decisions and explain to you the best way they can make your house appear even more wonderful than it already is by implementing a little bit of staging.
Speaker 2: 05:45 Looking at Santa Clarita Valley we do have 540 real estate listings active on the market and as far as real estate listings go that is a very low number.
Speaker 4: 05:56 We've seen CoreLogic in some of the other research websites out there reading the news feed this morning. They are talking about how the northwestern United States they have very very solid price increases. In fact, they've surpassed the market values back that was achieved back in late 0 6 and early 0 6 and even early 0 7. Prior to the crash of the last real estate cycle here in Santa Clarita Valley, we're looking anywhere from 9 to 12 percent off-peak prices. That's where we're sitting. We don't see a lot of big increases this time of year. We have more of a flat market however what's keeping it flat and maybe increasing depending on city and price range where that's still happening is having to do with the lack of real estate inventory.
Speaker 5: 06:41 We don't have a lot of properties for sale and here's the reason why currently people that are considering selling real estate if they're selling are leaving the state. That's
Speaker 6: 06:54 one thing. Usually, the markets they go to are a less expensive price per square foot wise than Southern California and you can see that just by looking at realtor dot com and looking at the price points. Southern California Los Angeles versus Franklin Tennessee you can see big differences there talking about Oklahoma earlier where you can see big differences in prices there probably by a few acres of land and a house for two hundred twenty-five thousand dollars in Oklahoma versus California want to buy a few acres and a house. You're over millions of dollars here in the greater Los Angeles area. Even a single family residence with no acreage maybe 70000 square foot lot maybe twelve hundred thirteen hundred square feet in Valencia's ZIP Code 9 1 3 5 4. You're looking at somewhere around 480 to five hundred twenty-five thousand dollars. That's where those price points are.
Speaker 6: 07:52 And is that an inflated market. Not necessarily the market is staying tight however because of the low-interest rate. But more importantly that lacking inventory there's still a very high demand for real estate here. However like that like I said that fall away point for the sellers not putting those properties on the market the ones that want to move up here locally. Number one they're having difficulty finding something to purchase. So they do that little bit of research first right if you're thinking about selling your home. You have to figure out what your machine is. What is your wife? And if you're selling it to move up. The next question does ask yourself as well what's available where I want to move up to. So let's say you currently have a house and it's you're thinking about selling it and you have a couple hundred thousand dollars worth of equity so you look at your entire financial profile.
Speaker 6: 08:43 You think it's going to be best to sell that property. So then you're walking away with 200000 to invest in another property or maybe you want to purchase something else may be going in primary residence with less than 20 percent down on one and then maybe using that money to buy a condo or a townhome to rent where you would be breakeven or a little bit better. These are those options that you look at. But the first question is your primary residence. Is there anything like that for sale anything that you're comfortable with that you want to purchase. There are a plethora of those listings out there that are in your price range the homes that you want to buy.
Speaker 6: 09:18 Great. Oh my gosh. That's very exciting. So putting your home on the market that's you're going to have something to buy so that's good. The other thing that sellers are looking at though right now there is three and a half percent. As far as their interest rate goes on their home loan mortgage on their mortgage the best they're going to be able to do is probably for four and a quarter on the next home. So that's the other hiccuped point. They're like wow gee I have this interest rate. Is it worth me selling this home and buying something else at a higher interest rate? So they think about that question to ask lenders in that regard. How do you buy down that rate? What does it cost? What would it cost me to buy down my interest rate to three and a half percent we have a lot of lenders right now they're saying that's not worth it.
Speaker 6: 10:02 But again look at those numbers. In addition, don't forget that mortgage interest deduction on your taxes you're paying it in folks if you're paying you have money going out to the government and you can write off a million dollars worth of interest. In most cases, if in fact, you're making that income you might be able to write off a lot more than you're currently are because now you have a higher interest rate. Those are things to look at when you're thinking about potentially selling and moving up. We had a great crash course on real estate loved to talk to people all day long to find more information about me SCV NASCAR and Connor MacIvor with yours. Housing radio and dot-com real estate radio show.
Speaker 6: 10:42 Please let me know if I can serve your needs whenever you're ready. Please refer us to your friends and family and of course yourself I will be there for you. As we have been for so many other people protecting your real estate interests, of course, one transaction at a time. I'm kind of McGyver thanks for tuning in. Be safe and if you need me you know where to find me. Take care.