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Conner with Honor - real estate

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From first responder to real estate expert, Connor with Honor brings honesty and integrity to your Santa Clarita home buying or selling journey. Subscribe to my YouTube channel for valuable tips, local market trends, and a glimpse into the Santa Clarita lifestyle.

Dive into Real Estate with Connor with Honor:
Santa Clarita's Trusted Realtor & Fitness Enthusiast

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Buying or selling in Santa Clarita? Connor with Honor, your local expert with over 2 decades of experience, guides you seamlessly through the process. Subscribe to his YouTube channel for insider market updates, expert advice, and a peek into the vibrant Santa Clarita lifestyle.

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Transcript

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Every year in the Santa Clarita Valley, we watch as real estate trends change from season to season. So usually when we start to get into fall every year, and right now we're kind of jumping into spring and then summer, I'll cover that in just a second. But once we start to go from summer into fall, we see a slowdown in the real estate cycle. Properties start to take a little bit longer to sell. Sellers that really wanted to sell but kind of miss that opportunity over the summer, they start to discount their properties. So then their properties come back on the market or canceled or expired or are withdrawn from the market or they get some kind of a pretty substantial price reduction so they get that property moved before they get too close to the holiday season, which of course, after summer, then you start seeing advertisements for Christmas. And in some cases, the middle of summer, you start seeing the Christmas advertisements. So once we get through the year, we get through the slower months, which are going to be the fall and winter, we break back into the early winter and then, of course, spring. And at that particular time, we start to see properties move even quicker because people are kind of jockey for position when it comes to school placement for their kids. A big magnet for Santa Clarita Valley happens to be the school system. There's a lot of blue-ribbon schools located out here in the public school sector. When you go to the San Fernando Valley, Los Angeles, you have a lot of very qualified teacher and qualified schools, of course, but a lot of the parents that come out to Santa Clarita, they've had their kids in private school. So you come out to Santa Clarita, you get a lower price per square foot, so it makes a better economic choice. Your commute to Los Angeles, and maybe you telecommute a few days a week, that actually doesn't change the variable too much. You do have to fight a little bit of traffic depending on your hours. But that school placement's critical because you're able to save on the residents and you're also able to save by not having to pay for private school any longer for the kids. Then that's kind of a win-win situation economically, and all you have to do is kind of grit your teeth a little bit more and survive the drive. And depending on where you're coming from in Los Angeles, if you're San Fernando Valley based, not a big deal. Actually, we're the next city just north of the San Fernando Valley. Our southern border in Santa Clarita is the San Fernando Valley's northern border. So it's right there, just next door. So just a few minutes, right? And if you are north end of the San Fernando Valley, you don't even have to get on the freeway. You can drive out here to Santa Clarita Valley by taking side streets and other types of roadways. And you'll trust me, you'll learn that very quickly once you start to see the freeway backing up. You'll see Balboa as your best friend. Of course, you're going to have to tolerate all the morons that are splitting down the center of the street, but there's also plenty of LAPD motor cops to enforce those laws. So be careful when it comes to speeding on Balboa. All right. So back to Santa Clarita Valley. So we see this trend every single year. Even in a foreclosure cycle, we saw it as well. Now, of course, when the market started to collapse and we got up to about the end of 2011, beginning of 2012, the movement and the cycle wasn't really normalized. We see that now, though, as we're breaking right into May 2026, we see a very normal cycle. The thing that's different this year is interest rates, and a lot of buyers out there are very much pausing their uh their forward momentum when it comes to purchasing real estate because of interest rates, and they have people that are telling them, well, you know, when I bought my house, I got it at 2, 2.5%. And you know what? That's lovely. Some of those sellers out there with those types of loans have transferable loans. They can pass that loan on to a buyer. Certain criteria applies, has to be a certain type of loan, but it does work. We have buyers that come, and I don't represent buyers, I'm a seller's only agent, but buyers in the mix when I was doing this, for the buyers anyway, and I do educational platforms for these types of purchases. There are real estate sellers out there that have these assumable mortgages. You just have to make sure that you're willing to pay up, anti up to be able to attain it. Now, in some cases it makes sense, in other cases it wouldn't. But those particular sellers that have these mortgages, they can sell their property at even a higher bump in a percentage to be able to make even more money because they're holding on to this, the golden handcuffs type uh interest rate. So that's something to consider if you happen to have one of those loans. Whenever I speak with sellers, that's part of the part of the uh the discussion, what type of loan isn't, who's the bank, is it assumable? And if it is, there could be a buyer out there. When I'm representing the seller at sellersonlyagent.com, the buyer could be very willing to pay extra money to be able to assume that type of mortgage. And of course, plus making everything even. If they own, if they owe$750,000 on that, but the residence is worth a million, you would need a$250,000 variable, just rough numbers to be able to be injected to the seller in the form of some kind of other payment method, but the seller has that money, whether the buyer obtained it through a gift or some other way. Once that money is in there, then the other part of the transaction would approve, of course, and then the the seller's lender would have to also approve the buyer. So there are a few extra moving parts. For the buyers out there, people are looking at that interest rate and they're a little panicked and they're holding off. What's going to end up happening if the financial world improves as far as interest rates and people start to trust that 10-year bond more? We're going to start to see an uptick in real estate purchase. At that time, it's going to be very indicative of what we saw during COVID, 2020 and 2021. The issue with that market was it was very fast. People were paying much higher than listing price for residences, and they were actually giving up particular rights when it came to purchasing residences. They said that they would give up maybe an inspection. They didn't care if it appraised. They would pay whatever the difference happened to be, and that's how they went through that particular cycle. Wasn't in agreement with a lot of those tactics. And my clients, when I was representing buyers, and that's kind of the end of my buyer cycle representing home buyers, it was kind of uh it was kind of an ugly market for a lot of people. A lot of people paid way too much and they still haven't caught up now. And that's been, you know, six six years or so. Anyway, when you're looking at real estate, make sure you get the real information. When you're looking to sell your house, make sure you get a true valuation. There's a lot of uh syndication sites out there, they're built around an algorithm or a program. Basically, a program's been written to look at maybe a particular property when a seller inquires about it, and they have some built-in variable to add to or take away from the actual price that the system reveals in order to elicit some kind of a decision that would be in that syndication website's favor. Maybe they want you to give up your personal and private information. Maybe they want to offer you a price that you you you can almost not refuse. Oh my God, so you get to click in away on that keyboard and enter your personal information, then you have 14 to 12 agents, 12 to 16 or whatever it is, a lot of agents that reach out to you and just bombard you with text messages, emails, and phone calls. So be weary with that. Any information you share online, and you'll see it in your cookie profile. You start to see these other systems start to notice, you know, I just asked what my house was worth on Google, and now all of a sudden on Facebook and Instagram and TikTok, I'm seeing real estate advertisements. Yeah, that's how that works. So be weary. The way that I would stay off the radar, contact your local agent. If you want a seller's only agent at a 17k fixed fair pricing model, just contact me and I'll be able to walk you through the next steps and get you what your home is actually worth in the present market. I'm Connor with honor. We'll see you in the next one. Thanks for watching. Be well, and I'll make sure I stay clear of the radiation. Talk to you soon.