This is the Santa Clarita real estate news transcription. Enjoy the show and please let me know when you are ready to have your Real Estate Won and not just done…
00:00 Good day everybody. We’ve finally gotten to November 2018. Of course, we are very, very close to voting day, November six days, November fifth. It’s a Monday. I am Connor, MacIvor, your local realtor radio show host here with the longest running podcast, first sign of real estate and beyond. Today, we are going to be talking about our local numbers, what’s going on real estate. I will have some Intel for you, buyers out there, some resources that we’ve added recently and to discuss ways to keep yourself safe. If you’re working with us, that’s great and I would love that of course for everybody in the world to be working with us, but I understand that is not a possibility. We do get our fair share. We’re very proud of the people and very blessed to have the people working with us and having us help them achieve whatever their real estate goals happen to be.
00:53 Now on the other side, we’ll talk about buyer broker agreements. We will talk about how to keep yourself safe as far as buying real estate, but first let’s get into the local market and we’ll have some tips coming up as well for you sellers out there on what to look for when it comes to hiring real estate agents. Those that happen to be not as communicative as they could be actually not communicating the way that they should be. So we’ll talk about all these things. All right, so let’s jump into this. So we are November fifth, 2018 and of course looking at real estate inventory, we have relaxed from being over 700 units for sale to six. A two is I had figured would happen is we get closer into the holidays. Real estate does slow down. Now there are buyers out there that are looking to buy real estate and they’re very, very serious.
01:39 They want to buy right now and bringing me to that. Let’s talk a little bit about serious buyers and sellers can look out for. So I talked about communication in a way they’re in that funny voice I just did with regard to communication. A seller does need to ascertain how they’re chosen real estate professional, the one that they are hiring to represent them in the sale of their home. How are they going to be communicating with the other agents and it’s not just enough to set it and forget it. It’s not enough to have the sellers actually very simply just communicate with, uh, have their agents just basically pass them along to not talk to anyone else and basically just go ahead and show the house and don’t worry about any other aspect of it. It’s important that those agents speak with your agent, Mr or Mrs.
02:34 Seller, very important. Here’s why I put together a blog post. If you go to Scv blog.com, you’ll actually see it. In fact, I’ll go ahead and get there right now so I can give you a title. But what happens is this, whenever I’m showing a real estate buyer, my buyers are serious. They want to see real estate. They are approved. I don’t take anybody out unless they are. If they tell that they are, then you know, that’s one thing, but ultimately it’s gonna come down to if they’re serious and they are going to be wanting to write an offer, they’re going to have to have documentation to accompany that offer that I’m able to produce or the theory able to produce via their lender so we can give that to the real estate seller, which could be you and you have a chance to look at the documents.
03:23 If those documents are out there, I’m not doing my job. Right. And also if those documents aren’t there, more than likely you’re not going to even entertain this offer from these particular buyers just because it’s missing a lot of stuff. A why, a lot of stuff. I mean fico scores, I mean an approval letter. I mean proof of funds. If they say they’re coming in with 20 percent down, it would be nice to see an account that reflects that. Some kind of an account they have access to what their name on it. Right. So that’s what we look for. Your agent has to be communicative with or communicate with. The other agent involved, so somebody bringing the buyer like myself, I need to be able to speak to your agent. I need to ask them about the true status of the home and a lot of times just like I put in here and the title of the post was agents not talking with other agents about homes.
04:10 They’re selling. Networking is part of the thing that I discussed the very beginning, but at the end of the day, I can know the the five best agents in the world and let’s say we’re one of them and one of my other four best agents in the world comes to me and says, Hey, we have an offer for your seller’s house. Well, I bring it to the seller and the seller’s going to say, well, Gee, that’s great, but we have other offers. I say, absolutely. The other offers happen to be more than the one you’re bringing in from this other best agent in the world. And I will say absolutely right. At the end of the day, it’s going to come down to WHO’s best qualified? Who has the best terms in place for the seller and who’s going to agree to give the seller the most money? That’s at the end of the day.
04:54 That’s what determines who gets accepted. All networking aside on the other side. Here’s the thing, whenever I’m showing a real estate buyer, residential real estate, before I take them out and show them the house, even if the home show is active in the multiple listing service, I need to make a call. I need to find out are there any offers that have been received because it could very well be that an offer was received 10 minutes ago and the agent hasn’t because they have two business days to update the multiple listing service. Maybe they’re going to wait till zero hour to do so. Maybe that offer is something that’s going to be countered. Maybe there are offers that have been received that have been encountered. Maybe there are multiple offers on the property. Does that mean my buyer can’t have a chance? Absolutely not, but it’s nice to know it’s going to be a difference between the buyer saying, you know what, Connor, I’m available this coming Saturday and today’s Monday versus calling them back and saying, you know, there are multiples on this property or they have actually encountered a couple offers and all of the takes to finish is the buyer to sign off on the offers.
06:00 Come back to the seller. The seller then says, you know what? This is the one we want to choose. Let’s go with offer b and the properties off the market and so we might want to get out there and see it a little bit sooner, but you see the point. I need to speak with someone to find out if in fact these are the happenings or if in fact that property is fully open for all buyers. That’s important. A lot of times agents are not fulfilling that part of their duty. They need to be speaking to the other agents that are calling their. They’ll even put into the multiple listing services in a very arrogant fashion and in a place where you wouldn’t see it and they put verbiage in there such as, don’t bother me, don’t call me the MLS, is updated daily. Will that MLS being updated daily isn’t helping my buyer with getting answers to these questions that I need to get before I schedule the showing.
06:55 Very important, so that’s something to watch out for. So if you’re going to be hiring an age and find out how they’re going to be having your house, your home shown, are they going to have an automated system or a system that you call into and there’s one that the multiple listing services pay for and they basically. They’re the ones that set up the appointment with you, but before that happens, and that’s fine, but before that happens, agents, buyers, agents need to talk to listing agents and they need to get answers to these questions. The agents that aren’t doing this are either new or haven’t even given it much thought or haven’t shown enough real estate, but when you show enough houses, thousands and thousands of houses over the last 20 years, since 1998 as I have you learned that you do need to have these lines of communication open with the other side.
07:44 All right, so let’s talk about real estate inventory. As I said, as we sent a Korea gets into the end of the year and I need to thank you out there for making Santa creative real estate news. If you go to Santa Clarita real estate news and Google, we are the top result with SCVnest, our blog there, so very, very excited. So thank you so much. We’re above the local paper, above the local resources and even the MLS. I’m going to be honored by that 682 active listings and all Santa Clarita Valley cities that’s acting all the way through Valencia. So you got to act and Aqua Dosa at Canyon country. New Hall Saga. Stevenson, Rancho Valencia, 682. That’s as of the morning of 11 five, which is today, and Simi Valley I said am I mentioned a little bit that I was out there showing property the other day, 338, so they’re basically half of where we are in inventory, which is even worse.
08:32 Total foreclosures, 154 total on the market and that’s all of southern California and all of a sudden in California as well. Seventy thousand and five real estate listings active. You can see all of that at Sep nest outcome. What’s happening with the markets typically slow down here in real estate as we get into the holidays, nobody wants to list their house for sale. Nobody wants to move during the holiday, so it’s something that we very often see in fact year over a year, but it depends on the market and how the stress is on the market and what kind of inventory we have. Now. We’ve picked up inventory starting by mid July of 2018 and we had been over 700 units back at that time. We were no more than about 360 to 380 units for sale, so we’ve realistically doubled our inventory moving into the end of the year.
09:21 We are seeing that effect. The actual sales prices we already do, reducing in amount, very small percentages, one to three percent depending on the city, depending on the type of residences. We’ll see that factor in more as we get into the first quarter of 2019. Then what would, what would we, what we typically expect “wha wha, wha, wha wha.” What we typically expect is going to be this, we’re going to have additional real estate inventory hitting the market as that spring pickup comes in and real estate and you’re going to see more and more houses in or the real estate market probably pushing a thousand or more units for sale as of the spring. There is that many real estates sellers out there that are just kind of waiting for that right time and they believe that’s going to be that first quarter of 2019, so we’ll see.
10:12 We will. We will watch and keep you posted. We’re probably talking about that break and lose some time the beginning of March or mid March of next year, so watch for that and we will continue to update you every single Monday. Now buyers out there. We did put together the official guy for first time buyers and Santa Creative Valley. One of the things that wasn’t mentioned in the article was something that had occurred with a buyer that we’ve been working with whom we have a buyer broker agreement with. That’s an agreement that they sign with us stating that there our client until we find them a house and we don’t do anything to hurt or harm that relationship. We’re now in contract officially. Like we would be with a seller now with a buyer, so there’s a lot more teeth to it if you will, between both parties and it’s actually not a bad idea.
11:00 It just depends on if the buyer is comfortable and this one had relatives that kept pushing and pushing and pushing and he said finally, no. I have a buyer broker agreement with my agent Connor Macgyver, and you know what? Everybody’s stopped. Nobody has asked him since they’ve left him alone. He had cousins. If Kay, why don’t you use Sam? Sam Is Great. You gotta use Sammy. No, I already have a buyer broker agreement. I’ve already signed the contract with my agent and that’s it. Crickets. No more so that helps in that way, but with that the client did go out and did look at a piece of real estate. I also took him to that same piece of real estate a couple of weeks after he looked at it originally and that buyer broker agreement helps because he’s in contract and that’s something that you might want to look at if you have family members leaning on you.
11:53 You don’t want to get involved with family. You want to use the agent that you’ve selected. That buyer broker agreement is powerful. Now, the thing that I don’t know, and I’m going to find out because I think it’s interesting to know at new housing, we represent clients all the time when they’re buying the new real estate, new housing, and I was thinking about the this-this morning. I’m wondering if there is an enforcement mechanism in new housing. Whenever there is a buyer broker agreement in place, now of course that goes back to the buyer, so it might be detrimental in that regard, but I’ll find out we never hit the buyers with any kind of penalty or any of this other stuff because that’s not good doing business. So if you’re signing by our broker agreements, you want to find out what happens if you decide not to buy, is there going to be an issue and there shouldn’t be, but if you decide that maybe now’s not the right time, you can’t find the right resonance or whatever it may be.
12:45 That’s something else to look at before you start signing different, uh, on different dotted lines out there when it comes to real estate. Just watch out for yourselves. Read everything that’s put in front of you and don’t listen to those fast talkers. Just be wary. Somebody should be taking care of you as if you were taking care of someone else as if how they want to be treated themselves. That’s the golden rule. That’s how it works. That’s existed in real estate since the beginning of time. Folks, watch out for yourselves, be strong, check out the market SCV nest.com as cv and est.com. That’s our main site. I’m Connor Mckenna. Was a total pleasure to come to you today. Discuss the real estate market and happenings here in Santa Clarita Valley. Also branching out in to see me with its 338 active listings. Very, very horrible inventory there. They didn’t experience that uptick that we did here mid-July into August, so it’s very, very tight in that market. I’m Connor Macivor, please be safe. I will talk to you soon and again, tell a friend over and out.