Bay Area TRENDS - Where is everyone moving | Average Cost of bay area counties.
Happy Monday. Crazy times. What a weird weekend, right? No rain. I mean, it was weird. I actually didn't do a lot. I did some work. I created a presentation. The whole nine yards. Kind of kept it chill, kind of kept it relaxed. I got ready for today. Then I had this wild hair thought, oh, you know what?
I could do all the Bay Area average numbers for 2000 and put it on a map and superimpose it and make it look like the weather and make it look fun and enjoyable. And that's why it's one 15 and I still haven't done it. Still trying to figure out how to do it. Um, okay. But I'm trying to make it so it looks nice and presentable.
I can do it all day long. Here, let me show you what I'm talking about. This is what I want to do. I want to do this. You can't really see it. Let me open this up real quick. There we go. So I'm gonna, I'm gonna go to 200 there. Look, try to get this so that when you look at it from a map point of view, you can go, oh, the weather today is nice.
County home price trends
Or I look at this from compared to 2022, which will be my base, it'll be up 5%, down 5%, that kind of thing, so that I can actually present this in a way that's not just boring numbers, but I know you'll hang out with me and hang tough.
Because you know, these numbers are cool and all, but quite frankly they're kind of boring. I just use 'em to reference really like, well, Willow Glen is the second most expensive place to live, and San Jose. So today we have some news. We're going to go over these real quick just to talk about it. I have a lot of people always asking me, what's home did what?
Are Home Improvements Tax Deductible?
Can you deduct all these? Well, okay, so here's the thing. I'm not a tax person, so I can't tell you yes or no. I'm not the IRS, so I can't tell you yes or no, but what I can tell you is if it's a repair, no, you can't repair unless it's a rental. That's a hard cost, right? If it's your home, if it's your dwelling, you live there, then only remodels.
If you're upgrading a kitchen that's 40 years old, yes, if you're replacing carpet with carpet, no. If you're taking out old windows and putting in dual pain, talk to your tax person. . Okay. Some strategies are run all around it. There are a lot of different ways to make it tax deductible. There are a lot of different strategies that people are doing today because housing is so expensive that we can do it, but, this is really good.
Home improvements versus home repairs. , right? Tax deduction for a home office. Obviously you, I always tell people, have a home, like a little side hustle or whatever, and that business starts to make money. Then you have that as a deduction, right? Medical modifications. If you're hurt, sick, or terminal, you know, God forbid you actually can use that as your hospice.
And upgraded systems. Again, these are just hints. Don't expect that I am your tax expert because I am not right. I always tell people I know how to get you into trouble, but I also tell you con conversationally, these are the questions you should be asking a tax professional. These are the conversations and questions you should be having with your trust.
These are the conversations you should ask your financial advisor. Right? I don't know how to answer them. I mean, I do, but I can't answer them for you because technically I'm a layman. All right. Okay. When is the best time to sell a house? For the last two years, it was freaking anytime you could put it on the market, people would give you their firstborn.
How would I give you my firstborn? Actually, he's turning out to be a new kid. Nice kid, but for well from Covid up until April 2022, it was pretty much any time. Now that things are coming back to normal, we have to look back to our, season of selling, and we kind of have a season of selling and then a little blip of selling and our season of selling.
March, April, and may, which means right now, if you're thinking about selling your house, you should consider getting your house ready, replacing the carpets, and painting repairs. If something needs to be ordered, now's the time to do it, because sometimes stuff takes a while to get in. Custom cabinets, what have you, right?
Windows, by the way, I know an amazing window guy. So if you wanna buy a window, if you need to upgrade your windows, come to me first. That is just for Santa Clara County in San Francisco. It's more, August, September, and October timeframe because people are getting back into school. That just happens to be, what it is.
So what I'm telling you is it really depends on your area and you could be in Toledo, Idaho, or where, if that's the place and it could. December is the time to, I don't know. Right. I can tell you. Santa Clara County for sure. San Mateo and Alameda County, Santa Cruz, and San Bonito for the most part. Yep.
So every area has its regional seasonality and then also. August, September for Sep, for Santa Clara, especially down here, we have a little blip because people come back from vacation and they're like, you know what? I need a bigger house, or you know what, I want to move to another house, or what have you.
And then they have a little blip. We kind of see it slowly going up and March, April, and May kind of goes like this, and then summer months slow down, and then it bumps back up. And then October, November, December, kind of straight. Not that it has a heartbeat or anything. All right.
2023. Housing outlook. On the majority, we will see a correction. We've already seen that. We've already seen it go down here, 21, 22, right? We'll see foreclosures, right? So they're not really accurate. But the fact is, is that we are going to see numbers, and you see it on my weekly chart.
We see numbers, and the volume of sales continues to go down. Home Values in Silicon Valley still stay where it is. You will see a lot of people pricing down to get more houses or to get their houses sold because the house has been corrected, and the market has corrected. We saw it come down over the last, oh, I don't know, last year, the average sales price shrink $78,000.
That was from mid. Summer to the end of December. All right. I don't have the exact numbers. I'll get those for you later. But we did see the part then, the numbers contract, and I've been telling, I was telling people just, you know, from what I saw, housing contracted about $50,000 here in Blossom Valley Housing contracted about $150,000, just is the way it is.
We're a little bit blown over, but it will heal itself right. . So just be, be careful what this is. Are we expected to see a big, huge glut of foreclosures? I don't think so. I mean, maybe in different areas, but I've been showing you, if you watch my, weekly videos, we don't see a huge number of bank-owned properties and they get snapped up pretty quick.
I'm promoting my most recent video.
this is my driving tour, it takes you to the different areas of Willow Glen and it's kinda fun. There are different areas here. You get to see maps show you up right there, shows you where I'm going so you can kind of get a good idea.
Kind of fun. All right, now put that, where are people moving? Where, which counties are growing? . Look at the green. You see all this Here, look at that. People were moving. Well, that's the desert. I don't know why people would move there, but you look at Florida, the entire coast, east Coast, people are leaving, but low and behold, people are, are moving outta California.
Average Cost of bay area counties.
Well, they're moving out of the coast of California, right? If you look that's. Alameda, Santa Clara, and San Mateo in San Francisco counties, they lost 1.6% or more. Their population decreased. We're going to see a continuing trend of that. This doesn't mean that housing value will plummet because it's only 1.6%, but something to be aware of.
This, it's the same thing. Percentage and change in population by county. I believe they got this from the Census Bureau. So this is virtually the same thing. This is supposed to be interactive, but I just thought I'd share it with you and then, yep, that's it. Oh yeah. Um, we'll talk about that.
Are Home Improvements Tax Deductible? When is the Best Time to Sell a House? How buyer behavior has changed Willow Glen San Jose Map Tour Rate Watch Where are People moving? Vito Scarnecchia Realtor®, Broker, Veteran, Dad DRE#: 01407676 Website: abitano.com UPDATE YOUR HOME VALUES HERE https://get.homebot.ai/?id=04198407-86e6-4db0-8902-ddf0de6dbabc If you are moving ANYWHERE in the world - Let me know! I know a LOT of AMAZING Agents! Book appointments here: https://calendly.com/abitano/15min Home Buyers Course YT YouTube.com/SanJoseLiving IG https://www.instagram.com/abitanogroup/ FB https://www.facebook.com/vito.scarnecchia/ LI https://www.linkedin.com/in/vito-scarnecchia/ Blog http://blog.abitano.com/ POD https://spotifyanchor-web.app.link/e/oxdH1Hwfcvb Professional Photography by Kim E https://photosbykime.com / Compass site: https://www.compass.com/agents/vito-scarnecchia/ VydeoEase.com- video post-production service for business marketers. $5 trial- Use Vito50 when you sign up… Video Marketing Course for Realtors https://karincarr.samcart.com/referral/O0FGKRS3/0orWK4vK5bAYBD6E Try Streamyard! https://streamyard.com/pal/5353055951519744
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