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When the CEO Hires a Direct Report
BY KEN KELLER SCVBJ Contributing Writer
As a CEO sits down to interview a direct report for a key leadership role, the stakes are high. The dynamic is not just about vetting skills and experience — it’s about assessing vision, values and the potential for deep collaboration.
Leadership candidates are evaluating the company and the CEO as much as the CEO is taking measure of them.
Here’s how a CEO can conduct an inperson interview that goes far beyond the résumé:
Start with presence, not performance. Before diving into questions, the CEO should set the tone with authenticity and presence. This isn’t a grilling — it’s a conversation between two leaders. Begin with a genuine welcome and create ample space for rapport and open discussion. A candidate who feels comfortable will speak more candidly, revealing not just what they’ve done but who they are. The CEO must be authentic too.
Ask about values, not just victories. Any competent candidate can list metrics and milestones; those items are on the resume. But what were the turning points in their leadership journey? Ask the candidate to recount moments when they had to make unpopular decisions, stand up for their team, or navigate a company crisis. The goal is to surface core values — how they lead when no one’s watching. Test alignment through hypothetical scenarios. Talk about real-world challenges the organization is facing (or might face). How would the candidate approach a team in decline? What would they do if a top performer went off the rails? These scenarios reveal more than judgment— they show whether the candidate’s instincts complement the CEO’s own leadership style.
Gauge cultural fluency, not just culture fit. Rather than asking, “Would you fit in here?” explore whether the candidate can add to the culture. How do they create psychological safety? How do they lead inclusively across functions and ge-
When interviewing a direct report for a key leadership position, its not just about skills and experience, its about assessing vision, values and the potential for collaboration.
ographies? A great leadership hire helps evolve the culture —not merely conform to it.
Flip the dynamic: Invite curiosity. A senior hire isn’t just joining an organization — they’re choosing to follow your leadership. That dynamic only works if they’re deeply curious. Ask what they want to know about the business, and your leadership philosophy. The best candidates will have sharp, insightful questions — they’re interviewing the CEO, too. “Can I work with and follow this CEO?” is the question that they are asking. Don’t save the hard stuff for later. Talk openly about risk. Be candid about what keeps you up at night, what hasn’t worked, and where the business needs transformation. A transparent interview creates mutual trust — and screens for leaders who thrive in reality, not fantasy. End with clarity and connection. Wrap with a recap of what stood out, what
you’ll be considering, and what comes next. Regardless of outcome, the candidate should walk away with the feeling that they are respected, inspired, and clearer about your company’s mission. Hiring a senior leader is never just an evaluation — it’s the start of a high-trust partnership. The best CEOs treat the interview not as a transaction, but as a cornerstone of leadership alignment.
Ken Keller is an executive coach who works with small and midsize B2B company owners, CEOs and entrepreneurs. He facilitates formal top executive peer groups for business expansion, including revenue growth, improved internal efficiencies and greater profitability. Email:Ken.Keller@ strategicadvisoryboards.com. Keller’s column reflects his own views and not necessarily those of the SCVBJ.
How to Stay Safe When the Lights Go Out
ABy Patrick Moody Henry Mayo Newhall Hospital
s we all well know, summer power outages are becoming more common — and more dangerous. Losing electricity during hot weather can put your health at risk. But a little preparation today can help you stay safe when the power goes out. Start with this advice from the American Red Cross, FEMA and other experts.
BEAT THE HEAT
When the air conditioner stops working, overheating becomes a serious concern. Stay cool by wearing lightweight and light-colored clothing. You can also take cool showers or baths. If your home becomes dangerously hot, don’t wait — head to a cooling center. Or spend time in an air-conditioned public space, like a library or mall.
A word of warning: Don’t rely solely on fans. They may not prevent heat illness when temperatures soar.
PROTECT YOUR FOOD
During a power outage, keep the refrigerator and freezer doors shut. A closed fridge can keep food cold for about four hours. A full freezer can hold a safe temperature for up to 48 hours. Use appliance thermometers to track temps and get rid of perishable items that linger above 40 degrees Fahrenheit for four hours or more.
To get ready for longer outages, keep a cooler handy, and have some ice ready to put in it.
KEEP IN TOUCH
You need a charged cellphone to get emergency alerts and stay in contact with friends and family. Power banks or backup chargers can help keep your phone working if the power stays out. A battery-powered radio is also a good way to stay informed.
PLAN FOR MEDICAL NEEDS
Some medications, like insulin, need refrigeration. Ask your healthcare provider how long these can safely stay at room temperature. Keep a cooler, ice packs and a thermometer on hand to help keep these meds at the right temperature. Be careful not to freeze insulin.
People who rely on medical devices, including CPAPs, oxygen concentrators or hearing aids, should have at least one backup plan to power them. Ask your doctor for advice on how to handle an outage — and when to evacuate
or call for help.
A backup power source like a spare battery, rechargeable power station or generator can be helpful. If you have a generator:
Follow all product instructions.
Make sure you have a carbon monoxide detector on each floor of your house.
Never use the generator indoors or within 20 feet of a door, window or air vent.
If you depend on electricity to power key devices, contact your utility company now. Ask
about priority services in case of an outage.
STOCK YOUR SUPPLIES
Taking time to prepare now can help you and your loved ones stay safe and comfortable the next time you lose power.
Flashlights are safer than candles and help preserve phone batteries. Store one where you can find it during an outage. And check now to make sure your household’s emergency kit is stocked and ready to use.
Plans for Newhall, Canyon Country, Valencia
DEVELOPING STORIES
BY PERRY SMITH SCV Business Journal Editor
We’re now approaching year two of waiting for what’s going on with the Valencia Town Center, but we will start seeing some changes near the mall soon, according to the latest plans at Santa Clarita City Hall.
The Santa Clarita City Council just approved its capital improvement plan for the 2025-26 fiscal year, which called for a little over $3 million to expand the capacity at the entrance of the mall at Valencia Boulevard, both at Mall Entrance and McBean Parkway.
City officials called for some improvements with increased capacity along Valencia, including a triple-left turn when you get to the intersection of Valencia and McBean, and a right-turn pocket going west, westbound, to northbound McBean Parkway.
The city is working on the portion of the project on public streets, but also said future enhancements may be made on the private property by the developers.
Two other plans in front of the city last month involved requests for conditional use permits: an expansion of Hasa, the pool chemical manufacturer, and Earthwise Aggregates, a concrete-processing company that’s trying to open a new facility in Placerita Canyon.
Hasa is looking to upsize its operations with a bottling plant that will require city permission, and Earthwise is replacing horse stables, which is part of the reason for the request.
Earthwise owner George Molina said he sees his business, which crushes big pieces of concrete into smaller pieces that can be recycled for barriers, driveways, landscaping and roads, as a way to offer a local service for customers who otherwise must drive to the Antelope or San Fernando valleys, he said. The business currently operates a lot on Coltrane Avenue in Newhall, but the size is a bit large for Earthwise’s current needs. In terms of other plans under review,
River Walk has been extended for one year.
The River Walk Mixed Use Project calls for 150 two-story townhomes, 8,500 square feet of commercial space and 2,500 square feet of recreational space, including a pool and community building.
With this one-year time extension, the approval for the plans are now valid until August 2, 2026, according to a letter from the city. The developer, Chandler Partners, is from Burbank and lists Studio 77 in North Hollywood and The Montecito in Woodland Hills as some of its more recent projects on its website.
Chandler also is behind the Newhall Avenue Mixed Use Project, which is expected to be in front of the Santa Clarita City Council in July.
The Newhall Avenue Mixed Use Project calls for a 70-unit apartment building; 36 two-story for-rent townhome apartment units across seven buildings; and a single-story, 4,000-square-foot commercial building on an approximately 9.7-acre hillside property at 23755 Newhall Ave.
Santa Clarita also has a fresh contingent of spots looking to open up shop throughout the city.
The recently signed off on a new Chipotle Mexican Grill in the Sand Canyon Retail Center, which is going to be located at 16388 Village Way. Chipotle will
occupy the western end-cap tenant of a new 13,535 square-foot building there, with about 2,400-square-feet of restaurant space and 40 seats.
If you’re a fan of the Golden Arches, there’s good news in store, so to speak: McDonald’s has put in a request to demolish its location at the Bouquet Crossings intersection in order to make its space a little bit bigger and add tandem drive-thru queueing. The new space would be about 3,700 square feet, according to the records with Santa Clarita City Hall.
The site improvements include the addition of new parking spaces and EVcapable parking stalls. The existing north driveway on Valencia Boulevard and the east driveway on Bouquet Canyon Road would remain unchanged.
There’s also a brand-new McDonalds coming online right across the street from where College of the Canyon previously was planning its Advanced Technology Center.
The plan for Valley Center Drive and Soledad Canyon Road, which was initially submitted in 2023, now includes a standard McDonald’s location and a Dutch Bros. that would be a drive-thru location only.
The Planning Commission approved 106 apartments and a small retail space for Newhall Avenue during a June meeting. Courtesy
Gen-Z is Guiding the Retail Revolution
Customer expectations continue to evolve at breakneck speed, and 2025 is likely to usher in further changes to brick-and-mortar stores as retailers compete for shoppers’ attention. With Gen-Z’s spending power projected to reach $12 trillion by 2030 — according to Nielsen IQ — industry experts say that they’re leading the retail revolution.
“Gen-Z are digital natives, fiercely value-driven and accustomed to ondemand, personalized experiences. As such, shoppers can expect retailers to dive into new technologies as they strive to deliver innovative experiences that are as seamless and personalized as they are meaningful in the new year,” says Christa Anz, global marketing director at Sensormatic Solutions, a leading global retail solutions provider.
According to Sensormatic Solutions data, experience and convenience remain top factors in consumer purchasing decisions among all generations, with crowds and lines (53%), out-of-stocks (46%) and long waits for pickups (29%) cited as shoppers’ top pain points.
Fortunately, the foundation for improvements has been laid. Retailers are employing emerging technology to meet these desires, and consumers will soon start to see the benefits.
For example, solutions that draw on organizational data to provide predictive analytic insights can help retailers get ahead of disruptions to ensure customer service issues are addressed proactively and resolved quickly.
Meanwhile, the same types of data can be used to enhance personalization and gamification in retail apps, websites and loyalty programs, making them simpler and more satisfying for shoppers to use.
Technology and personalization efforts will also help ensure customers get the products they want, right when they want them. RFID-enhanced inventory tracking will improve in-store pickup, and end-to-end supply chain digitalization efforts will help retailers and manufacturers address material shortages, severe weather and other challenges expected in 2025.
Additionally, shoppers can expect to be
Gen-Z’s spending power is projected to reach $12 trillion by 2030. And industry experts say that they’re leading the retail revolution.
connected with products they need — and those they don’t yet know they need — thanks to the ubiquity of data retailers now have access to and refinements in the way businesses use that information to personalize offers.
According to Frontiers in Psychology, personalization efforts boost loyalty in 68% of customers, making the implementation of this technology a win-win.
Another rising trend is retail media. P2PI predicts that in 2025, retail media advertising spend will surpass linear TV spend. Despite their popularity, most consumers are unaware of how retail media networks impact their shopping experiences and improve their interactions with brands.
Using in-store and online data to create omnichannel customer and demographic profiles, retail media networks help stores adjust inventory tactics, promotions, displays and more to reflect the preferences of their customers.
On the security side of the equation, Sensormatic Solutions notes that the
impact that loss prevention and safety measures will have on customers will likely wane this year. This shift comes as more retailers adopt a smart hybrid approach, with a focus on balancing safety and satisfaction.
The combination of physical deterrents and item- or category-level inventory data allows retailers to protect the most at-risk parts of the store (and the people in them) without adding unnecessary friction elsewhere.
Finally, market pressures will continue to guide retailers. As 2025 unfolds, private-label products are expected to gain popularity, appealing to shoppers looking to save and retailers looking to boost revenue.
For more insights into the 2025 shopping landscape, visit sensormatic.com.
“The preferences of Gen Z are a reflection of where the industry is at this moment; listening to Gen Z’s needs will help retailers improve both their own operations and the ways they interact with shoppers,” says Anz. (SPT)
Gen-Z are digital natives, fiercely value-driven, and accustomed to on-demand, personalized experiences. ©ADOBESTOCK
DrinkPAK Continues Santa Clarita Expansion with New 172,843 SF Facility
WBY ONDRÉ SELTZER PRESIDENT & CEO OF THE SANTA CLARITA VALLEY ECONOMIC DEVELOPMENT CORPORATION
e recently announced that DrinkPAK, one of the fastest-growing beverage manufacturing companies in the region, has leased a new 172,843-square-foot facility at 26313 Golden Valley Road. This latest expansion, facilitated by the commercial real estate firm Newmark, underscores DrinkPAK’s continued commitment to the Santa Clarita Valley (SCV) and marks the company’s fifteenth transaction with the Newmark team.
Patrick DuRoss, SIOR, Executive Managing Director at Newmark—who, along with John DeGrinis, SIOR; Jeff Abraham, SIOR; and Javier Galvan, has represented DrinkPAK since 2019—commented, “DrinkPAK’s business has grown tremendously in just a few years, and from day one, we strategized to ensure their real estate could scale with their needs. Santa Clarita has proven to be ideal for growth, with its modern industrial parks and supportive climate for business. We are proud to have supported DrinkPAK from its initial establishment to its current expansion.”
The company’s continued growth is a significant win for the Santa Clarita Valley. When a business makes commitments like this in our community, it means new local jobs for families and greater opportunities close to home. This investment strengthens our local economy and enhances its resilience. We couldn’t be more thrilled to see a homegrown success story like DrinkPAK continue contributing to our community’s prosperity. DrinkPAK’s CEO, Nate Patena, also shared his enthusiasm:
“Santa Clarita has truly become our home. We’ve received exceptional support from SCVEDC, the City of Santa Clarita, and the local community every step of the way, from expediting permits to turning out talent. That kind of business-friendly environment is a big reason why companies like us can thrive here.”
What started as a single-building lease quickly grew into a multi-building campus, with DrinkPAK taking over the final three buildings at Needham Ranch in 2024. As demand surged, the company announced plans to expand nationally—with new facilities in Texas and on the East Coast—all while maintaining Santa Clarita as its corporate headquarters.
Holly Schroeder, vice president of External
Affairs for DrinkPAK and former president & CEO of SCVEDC, reflected on the journey:
“I’ve had the privilege of supporting DrinkPAK from its inception and watching it flourish in our valley. Their commitment to innovation, quality, and community has been unwavering. This new facility provides vital support to our production capabilities, and we’re excited to continue investing here, bringing additional employment opportunities and economic growth to the region.”
Today, DrinkPAK employs hundreds of local
workers and operates more than 1.1 million square feet across seven facilities in SCV. Its ongoing growth reaffirms Santa Clarita’s reputation as a thriving hub for innovation, advanced manufacturing, and opportunity.
Please join us on Thursday, September 26, 2025, for our Economic Outlook Event, where CEO Nate Patena will discuss the company’s growth and moderate a panel of local business leaders.
Remembering ‘Follow the Leader’
My observation has been that when a team of individuals follows their leader well, it has a positive impact on the organization.
BY PAUL BUTLER
SCVBJ Contributing Writer
Pday forward, I made a concerted effort to be a better follower.
aul Butler: When I was a young English schoolboy, we used to play a game called “Follow the Leader.” The basic premise of the schoolyard game was that one person was designated as the leader, and everyone else took on the role of followers. Where the leader walked, the followers walked. What the leader did, the followers did.
Sometimes the leader went where some followers didn’t want to go or did things they weren’t prepared to do — so some followers dropped out.
For the game to work, there was just one leader. I often think that in many workplaces around the world, part of the problem is that there are too many layers of supervision, management and executive authority, making it unclear who the followers are meant to follow.
On the flip side, it can be very dangerous, of course, when one leader has all the power. As Lord Acton famously said: “Power tends to corrupt, and absolute power corrupts absolutely.”
The followers did what the leader wanted them to do. I often think the problem inside many teams and organizations is not so much a lack of leadership, but rather a lack of ‘followership’.
I remember, when I was a full-time employee, a boss once told me directly: “Paul, you are not easy to lead.” This was a paradigm shift for me, and from that
On the flip side, we should draw the line if our leader walks somewhere we know we shouldn’t walk or instructs us to do something we know we shouldn’t do. It’s at this point we stop being followers and, if necessary, become whistleblowers.
We should speak up if the command is fraudulent, if it could cause a safety hazard, or if the request is immoral or goes against our personal core values. If no action is taken by the powers that be (i.e., Human Resources), we should consider looking for a new line to join (i.e., get another job).
In the schoolyard game, some followers dropped out if they didn’t want to follow the leader anymore or were called out by others for not doing what the leader asked.
One of the best things an unhappy employee can do is to quit. Likewise, one of the worst things an unhappy employee can do is quit … but stay. Unhappy employees can drag others down with them — they become like a toxic poison within the organization. If unhappy people are unwilling to stand up or speak up respectfully about what needs to change, they should drop out of the game.
I can still see the game being played out in my distant memory — a line of schoolchildren weaving uniformly through the schoolyard. An interesting phenomenon took place when the line was walking well together: more children joined the game! The line got bigger and bigger.
My observation has been that when a team of individuals follows their leader well, it has a positive impact on the organization. In time, the organization becomes a great place to work. People develop a passion for the work they do. The organization becomes a talent magnet — more people want in than want out.
I’ve observed this to be the case when teams are clear on their mission, have a line of sight toward a compelling vision, and operate, promote, and reward according to a set of noble, honorable values.
There are so many books, podcasts, keynotes, and articles about leadership — but very few on the subject of followership. If our leader is a man or woman of high character and high competence, let’s follow their lead. There’s no perfect organization, as we’re all imperfect people, but always strive to be a positive influencer as a follower.
Good followers are hard workers who go the extra mile. They look for solutions rather than magnify problems. They contribute ideas constructively. They are attentive listeners and effective time managers. And finally — as I had to learn — followers must be easy to lead.
Paul Butler is a Santa Clarita resident and a client partner with Newleaf Training and Development of Valencia (newleaftd.com). For questions or comments, email Butler at paul.butler@ newleaftd.com.
We’re thrilled to invite you to join us in celebrating the exciting new businesses opening in our community! Each grand opening is not just a milestone for these businesses but also a chance for all of us to come together and support our local economy.
From marking special occasions to recognizing remarkable achievements, we feel honored to share in your celebrations. Our grand opening and ribbon-cutting events are FREE and open to everyone to attend! It’s a wonderful opportunity to connect with fellow community members, meet the passionate individuals behind these new ventures, and explore what they have to offer.
Let’s show our support and make these celebrations unforgettable! Bring your friends and family, and let’s celebrate the growth and vibrancy of our community together. We can’t wait to see you there!
to Slice
by
your grand opening in June. Go visit them at 23250 Town Center Drive Suite 190, Santa Clarita. Thank you to everyone who came out to celebrate and support them. Photo credit: Joie de
Celebrating SCV Businesses
Congratulations to Magic GMC Cadillac on your grand opening in June. Go visit them at 24055 Creekside Rd, Valencia. Thank you to everyone who came out to celebrate and support them. Photo credit: Joie de
Whether you’re launching a brand-new business or celebrating an important anniversary, we’d love to celebrate you with a memorable ribbon cutting ceremony.
This is the perfect opportunity to showcase your business, connect with fellow entrepreneurs, and celebrate your hard work and success.
Email us at hello@scvchamber.com to learn more about how we can assist in organizing your ribbon cutting or grand opening.
Congratulations
House
Tony Gemignani on
Vivre Photographie
Mayor Bill Miranda and Monica Fawcett, Economic Development Associate with the City of Santa Clarita congratulate the ownership of Slice House on their grand opening. Photo credit: Joie de Vivre Photographie
Vivre Photographie
SCV Chamber Board Chair Di Thompson and Board Member Patrick Moody congratulate John and Lisa Arandfa of Magic GMC Cadillac on their grand opening. Photo credit: Joie de Vivre Photographie
Congratulations to Sinjin Martial Arts Academy on your grand opening in June. Go visit them at 21525 Centre Point Pkwy
Santa Clarita. Thank you to everyone who came out to celebrate and support them. Photo credit: Joie de Vivre Photographie
Isabell Berberian, Assistant Field Deputy for LA County Supervisor Kathryn Barger congratulates Christopher Sinclair owner of Sinjin Martial Arts Academy on their grand opening. Photo credit: Joie de Vivre Photographie
Celebrating SCV Businesses
Mark your calendar’s and come be part of the excitement as new businesses open their doors right here in our community! These grand openings are more than ribbon cuttings — they’re celebrations of growth, local spirit, and fresh beginnings.
Everyone is welcome to join the festivities, connect with fellow community members, and show support for the entrepreneurs investing in the Santa Clarita Valley.
We invite you to join us for an exciting and dynamic evening at our August Business After Hours Mixer at Thermal Horizons Yoga and Wellness. This is more than just a networking event—it’s an opportunity to engage with fellow business owners, leaders, and community members in a relaxed and welcoming setting. By participating, you’ll not only expand your professional network, but you’ll also help strengthen the local business community and drive collaboration that leads to success for all. Our chamber thrives because of active, involved members like you, and your presence at this event is a chance to contribute to that collective growth. Share ideas, discuss challenges, and explore new opportunities to grow your business while building lasting relationships. This is an evening of community, connection, and involvement—essential ingredients for a prosperous future. Don’t miss the chance to be part of something bigger and make an impact in the business community. We can’t wait to see you there!
To view our full calendar and event details go to www.SCVChamber.com or scan the QR Code to the right.
Celebrating SCV Businesses
42% of Americans Will Pay More to Support Small Businesses
Americans are evenly split on their shopping habits, shopping both big and small — 29% favor local or small businesses, while 29% prefer national retailers. Though price remains top-of-mind for many shoppers (62%), speed is a major factor, too: 53% say they want to get an item as fast as possible, no matter where it comes from, according to a new study by Empower, a financial services company.
Shoppers appreciate the personalized customer service (36%), high-quality and craftsmanship (34%) and locally made products (56%) found at the stores in their neighborhood. Lower prices (85%), greater product variety (71%) and more flexible return policies/warranties (64%) motivate consumers to pick big-box retailers.
Key Takeaways
Best of both: 29% of Americans prefer big chains, 29% favor local small businesses; 82% of Americans say they shop at both big chains and small businesses for different items.
53% want to get items as fast as possible, no matter where they come from.
Half of Americans say bigger chain stores offer
convenience (56%) and more loyalty programs or rewards (51%).
3 in 5 (61%) prefer to buy gifts from small businesses because they can find more unique and personal options.
Eating at local restaurants (75%) and shopping for produce at local farmers’ markets (51%) are ways consumers support their local economies.
Monthly spending at local small businesses averages $106, with Gen X ($113) and Millennials ($110) splurging more.
Purchasing Preferences
Economic pressures can play a role in where Americans are shopping around:
44% report purchasing items less at small businesses due to inflation. Three-quarters of spenders say they buy online from big box stores to get better deals.
Beyond price, 6 in 10 Americans prefer to purchase gifts for others at local shops because they can find more personal and unique options.
Three-quarters support small businesses in their town by eating at local restaurants (non-chains) and shopping for produce at farmers’ markets (51%).
Other local finds consumers are on the hunt for include books and media (51%) and home goods or decor (44%).
The return or warranty policies at big chains offer financial peace of mind for many (49%), while shoppers are looking for electronics and appliances (92%) and sporting goods (81%) at national retailers.
Baby Boomers (41%) and Gen X (31%) are more likely to prefer shopping locally, while Millennials and Gen Z are more flexible — 42% and 46%, respectively, say they have no preference.
Gen Xers spend the most per monthly average across both local and big chain stores, followed by Millen-
nials, while Gen Z and Baby Boomers report lower spending overall.
Average monthly spending at local small businesses, by generation:
Gen X: $113
Millennials: $110
Gen Z: $96
Baby Boomers: $88
Average monthly spending at big chain stores, by generation:
Gen X: $379
Millennials: $338
Gen Z: $298
Baby Boomers: $259
The Appeal of Small Busi-
nesses
More than a third (35%) are willing to pay extra at a local store for a product they could also buy at a big chain. On average, consumers are comfortable paying up to $14 more, with 10% ready to spend over $30.
Convenience is another important factor, especially for younger generations. Over half of Gen Zers (56%) would shop “small” more often if faster shipping options were available.
Online platforms like Etsy
Assessment Roll Nears Completion; Forecast Announced
BY JEFF PRANG Los Angeles County Assessor
Icome before you this month to let you know we are in the final stages of fulfilling our Constitutional mandate and the most significant item I do as your County Assessor: The 2025 Assessment Roll. As I visited with you last year about this same time, some of you may be scratching your head and wondering: What is the Assessment Roll? Others are more than familiar with the comprehensive tally that values more than 2.5 million real estate parcels in Los Angeles County that results in the very tax dollars that goes to pay for vital public services, such as police, fire, schools, and even libraries, to name a few.
countywide. That included 1,896,799 single-family homes, 250,984 apartment complexes and 248,141 commercial and industrial properties.
Moreover, the 2024 Assessment Roll came in at $2.09 trillion that made about $20 billion available for the public services just mentioned.
because they rely on property taxes to pay for vital public services. However, the longterm adverse effects of these wildfires will be felt for years to come.
annual property tax bills. Most property owners will see only a 2% adjustment prescribed by Proposition 13.
For more information about the Assessor’s Office and the many tax-savings programs we offer, please visit our website at assessor.lacounty.gov.
The Assessment Roll is essentially completed by June 30, as our fiscal year runs from July 1 to June 30. It is the very foundation of Los Angeles County’s property tax system. If the Roll is not thorough and accurate, the County might not receive the necessary funding for the year and critical government services are left wanting. Others cannot do their job until we do ours.
The Roll, as it is known, contains the assessed value of all real estate and business personal property in the County’s 88 cities along with the unincorporated areas. It also breaks down the number of single-family residential homes, apartments and commercial-industrial parcels.
Last year, as an example, the Roll comprised 2,559,489 million real estate parcels as well as business assessments
As a point of interest, I reported to the Los Angeles County Board of Supervisors on May 15 that taxable property values for this year are anticipated to increase about 3.25% over 2024, marking 15 years of continuous growth, despite the devastation from the recent wildfires.
The May forecast projects the anticipated growth rate for the annual Assessment Roll and can change from now until Roll closure in early July.
The forecast is an important tool, though, for local governments as they prepare their annual budgets in anticipation of property tax revenues.
As I told the Board in May, this year has presented enormous challenges because of the massive destruction from the wildfires that swept through the Pacifica Palisades and Altadena. Our analysis indicates that property values are going to grow for the 15th consecutive year, which is good news for property owners and for local government
I also want to remind residents that the growth does not mean property owners will be subject to a corresponding increase on their
Los Angeles County Assessor Jeff Prang has been in office since 2014. Upon taking office, Prang implemented sweeping reforms to ensure that the strictest ethical guidelines rooted in fairness, accuracy and integrity would be adhered to in his office, which is the largest office of its kind in the nation with about 1,400 employees. It also provides the foundation for a property tax system that generates about $20 billion for public services annually.
ENJOY LUNCH ON
The Assessment Roll is the very foundation of Los Angeles County’s property tax system. ©ADOBESTOCK
Condo, Home Listings Surge in Latest Figures
BY DAVID WALKER Southland Regional Association of Realtors
The inventory of condominiums listed for sale in the Santa Clarita Valley during May surpassed the busy months prior to and during the Covid pandemic while the single-family home supply was on pace to post numbers not seen since 2019, the Southland Regional Association of Realtors reported in the most recent data available.
The Association reported 230 active condominium listings at the end of May, down four listings from the peak set in April, but up 29.2% from a year ago. The single-family home inventory came in at 659 active listings, up a whopping 78.6% from a year ago.
The combined home and condo inventory for May posted a total not seen since the lead up to the Great Recession of 2009. SRAR leadership offered several possible factors that may be contributing to the latest figures.
“Prospective buyers were coming out in numbers, eager to sort through a suddenly expanded selection as the inventory swelled,” said Anthony Bedgood, president of the 10,000-member Southland Regional Association of Realtors.
“Then the impact from the January wildfires, the threat of international tariffs, and now lingering economic uncertainty continue to cloud the future, making some buyers hesitant.
“Sales were rising, as they often do in the early months of each year,” he said. “But after a hopeful start, May totals went in the other direction.”
Single-family home sales have posted negative numbers for the last three months with May down 9.0% to 191 closed escrows. Similarly, condo closed escrows were off 23.6% to 55 closed escrows.
In the local market, Valencia leads the number of listings, with 309 active listings in May and 94 escrows closed that month, which includes homes and condominiums. The number of new listings on the market for that area is 413, compared to 913 active listings for the entire area. The Canyon Country market has about 200 active listings, and Saugus has 163.
In terms of market price point, Saugus had the highest average listing in the latest numbers, but Valencia still posted the highest average sales price. The average asking price in Saugus was $920,000 and in Valencia it was $899,000. But the sales price in Valencia was $859,999, about $15,000 higher.
“There’s always opportunity, regardless of the market,” said Valerie Biletsky, SRAR’s chief executive officer. “Slow-
ing sales and rising inventory typically translate into slower price appreciation or even price reductions, especially if an owner must sell in a hurry.”
The median price of homes that closed escrow in Santa Clarita during May came in at $860,000, down 2.6% from a year ago. The condominium median price – meaning half the sales posted prices higher and half lower — of $599,000 was up 4.2%.
Both were short of their record highs — the condo record of $645,000 was set in June 2024 while the home high of $910,000 was set in March 2024.
The combined home and condo pending escrow total of 190 transactions was down 28% from a year ago. Open escrows are a gauge of future sales totals.
SRAR’s Income-to-Loan guide for May found that an income of $155,470 was needed to qualify for an 80% loan of $479,200 on a Santa Clarita Valley median-priced condominium of $599,000. With the national average interest rate of 6.64%, the income needed to qualify increased 6.6%. The monthly PITI — principle, interest, taxes and insurance payments — came to $3,887.
Chartered by the National Association of Realtors in 1920, the SRAR is the voice for real estate in San Fernando and Santa Clarita valleys. With nearly 11,000 members, SRAR serves as a trusted resource and partner to the real estate profession and the community at large.
A yard sign touts a huge yard on a Plum Canyon home. But the Saugus market offered the highest listing prices with the most recent data available. SIGNAL FILE PHOTO
The List Oldest Businesses In The SCV
The List Oldest Businesses In The SCV
SMALL BUSINESS
have also gained traction. About half of Americans (51%), including 54% of both Gen Z and Millennials, use these channels to support small businesses. Additional reasons shoppers value small businesses include locally handcrafted products (56%), building relationships with owners (39%), and personalized service (36%).
Big chains attract shoppers with competitive prices, convenience, and loyalty rewards. Gen Zers are the most likely to seek rewards and discounts — 61% prefer shopping at national retailers to take advantage of these perks. When shopping online specifically, Gen Xers (79%) are more likely to buy from chain stores because of deals offered.
Methodology
Continued from page 14 Shoppers appreciate the personalized customer service (36%), high-quality and craftsmanship (34%) and locally made products (56%) found at the stores in their neighborhood.
The Allure of Big Chains
Empower commissioned an online survey of 1,009 Americans in October 2024. (BPT)
Economic DEvElopmEnt corporation
26455 Rockwell Canyon Road | UCEN 263 | Santa Clarita, CA 91355 | (661) 288-4400 | www.scvedc.org Econo Watch
Santa Clarita Stock Average
Santa Clarita Stock Average Below you will find a list of local Santa Clarita-based or prominent Santa Clarita companies used for our averages. Each month we will take the average of all these stocks and show that number. Tracking that number from month to month will give you a window into how our local company’s stocks are performing. Last month the index was 4,184.52 and the average price per share was $ 139.38 This month the index is 4,230.54 up 46.02 or 1.1% For an average share price of $141.01
