Santa Clara's Highest and LOWEST SOLDS Good story about F*@K Around and Find Out!


Santa Clara's Highest and LOWEST SOLDS Good story about F*@K Around and Find Out!

What's the best time for you?

I have a feeling people aren't gonna that whole countdown thing, but I did it early so that we clocked in right at 8 45. I know I'm bouncing around on start times, but the whole idea for me is I want to find out who has, who wants to watch and if I get, five people watching 8 45, and I. 40, 50 people watching at nine 30 cuz they're bored with work already. I'll do that. So you have a comment idea of when you wanna watch this, let me know and then I'll gather a consensus. Today we're talking about highs and lows. Highs and lows. Yeah. This year or this last week was eventful. I may, I have told you I had 16 sets, 17 sets of people come through my open house on Sunday. Seems like buyers are back. I don't think, I think if we looked at what it was last year, the number of sales that we had, these are sales, these are houses that were active and went into contract 59. We had almost 60 single family homes in Santa Clara County go into contract. It's pretty good for a January, right? I told you, I think prices are coming down. Houses are starting to sell again, and I. That's why I'm doing these. So you can see where we're going every day. Get an idea of what the market is like. If you're thinking about selling. Our selling season is March, April, may. So start getting ready to sell. Gimme a call. We can go through the whole process. I'll do my little banner here real quick so you can see it. Yeah, there it is. Banner.


Okay, so rates, again, rates. If you saw yesterday, we had Wells Fargo quoting like five and a quarter, 5.18. Let me see if I can find that real quick. Usually comes in wells. five and one eight. That was yesterday's rates. These are non quoted rates. You have to pay a couple discount points or almost just a little bit more than a half a discount point to get over there. But guys, that's just crazy. That's a 30 year standard. That's jumbo. That is 30 year Stu. Jumbo. Sorry. I guess he's not even quoting the standard. Conventional because in California, there's not very many that aren't con, that aren't conventional, that are conventional these days. And quite frankly, conventional is a little more expensive. That's more like 6.1. So if you look at this number right here, that's the general hello. Thing right here. 6.21. So we're hovering up here, but you're gonna find far better pricing if you stay jumbo. All right. Gas, the lowest I saw is 360 9. Better than $5 Poke in the eye. . Okay. Six, almost 60 days on, or almost 60 houses Sold this last week, the last seven days, including today. Okay.

HI's and Lo's

Our highest sales price was in, I think, Saratoga, $4.8 million. We'll go to that real quick. Oh no. Pierce Road in Saratoga. Yeah, Pierce Road started off at 5.5 million, landed down about 4.8. It took 88 days for it to sell. 88 days house in Saratoga. Look how gorgeous this thing is. It's just, it's like a storybook. It's gorgeous. Granted, not a big fan of the wood shingles, that could presents an issue. It's a beautiful house. All right, let's take a look at the lowest church for 500. By the way, it sold for 5.26% over list price. Pricing is very crucial today. There's ego pricing, and then there's realistic pricing. If you have it realistically priced, you're going to sell your house quickly. Gilroy Church Street, it's 123 year old home, 1,288 square foot. If you've ever walked into any of these craftsmen slash Victorian. They're pretty much standard where you have living space on the right side, and then you have sleeping space on the left side, and there's no rural hallways. Hallways were invented around the 1940s, so you walk into a living room, maybe a living room, dining room combo, and then to the right is a. Is a bedroom, and then right next door is another bedroom. And then and then you walk into the kitchen and then there's another bedroom or what have you. And sometimes they have 'em underneath. These things are a raised foundation, so there is a little bit of cellar underneath. Not really living space. It's more storage. It's pretty cool, but for $500,000 you can't beat it. Took 30 days to sell, listed for $475,000 and it actually sold for 5% over. Awesome. The highest list price of sales price ratio was Davenport Drive. Let's take a quick look at this one. Where is it? Davenport Drive in. Where is it? What area? 95. 1 27. A rock. Okay. Yep. So that's 6 81 0 1. Closer to the Hills. Beautiful house. Nice little ranch style. Completely uped, brand new everything. Kitchen. , look at that lighting up there. It's really pretty. Wow. I wonder if that's a scratch right there. So you know, this is the typical style of what you're seeing today. Grays and whites very monotone. To me, it's getting boring. , but that's what people want. They want turnkey, right? There are new colors, gray. I've done videos on the new colors that are out there, right? If you're gonna do that, why didn't you paint the fireplace? I'm not gonna tell you, to me this looks like it was a flip, or they came in and redid it because when they, when I see no backyard, they have a backyard, but they don't have grass. They just tear out the old grass. , it tells me that they were saving money. They just threw out the cheap brown bark stuff. active escape. Looks like somebody came in and just basically did a flip job. Not saying anything wrong with the property, but it's a standard. It's 1,864 square feet, 48 years old, built in 1974. Four bedroom, two bath. Let's take a look at the ratio. 124% over list price, or 24% over list price.

F*@K Around and Find Out!

That's pretty cool. That's really good. And then one here, Foothill Drive. Let's take a look at Foothill Drive. There it is. . Now, this is a story of bleep around and find out, right? When you ego price a house, you have to be patient. You have to be patient. Say, I'm going to stick to my guns. I'm going to wait for the right buyer. It could take six months. I'm going to take, when we tell you that the market is starting to contract, meaning go down, you have to understand that there's strategies behind. If you say, I'm okay, I'm going to wait for the right buyer to come through. And there's nothing wrong with that. Absolutely not. But you have to be patient. When you go halfway through and you're into it a couple months, you're like, oh, why aren't we selling houses? Or Why isn't this house selling? How come that I have no showings is because your house is overpriced. But Vito, this house backs into. backs into the hills in the foothills, and it's a beautiful house in LA and in April 22, it sold for 1.6. I think it should sell for 1.7. I agree. But the market contracted and this is a split level house. There's nothing wrong with this house at all. It's a beautiful looking house, right? Split level. You have upstairs and downstair. See, that's the other thing too. This is very crowded looking. Like what? Okay, this is a hobby room. I get it. But if you're moving, you gotta make it look like Brighton, airy and roomy. This looks crowded, right? Carpet doesn't sell so well these days. You have beige coloring, right? Older tile floor. people pick this stuff apart and it's not because they're trying to be mean, it's that they're comparing it to other houses. Like that last one, we saw completely updated new modern colors, all the same color all the way through, so you don't have to have 15 different gallons of ga of paint like my house right now. There's this idea, right when you're selling your house, , you wanna sell your, you want to get it to what people are looking for. It's like selling a Ferrari with three wheels. Yeah. Your house, your Ferrari could be worth $250,000 if it had all the same wheels and brand, reupholstered seats, new engine, right? Or if you have it as a fixer upper, it is not gonna be worth 250,000. It's gonna be worth maybe a hundred thousand, maybe 125,000. Same thing with Corollas or Hondas or whatever. If it's a beater and it needs work or you need to part it out, you're not gonna get top dollar for it. If you have ho, a house that has oak cabinets and the older counters and a light bulb that's missed, that's burnt out and beige walls. That's like saying my house, my, my Honda Accord from 1986 is worth, the cost of a brand new Honda Accord, which is $40,000. Not gonna happen. You're not gonna attract buyers. You're gonna see people coming through. And again, they're not being picky. They're not being mean. They're just looking at these ho these this the house and say, oh, that's a lot of work. Are these guys ever gonna get around? Yeah. Okay. Backs into the trail. I get that. That's great. But look at this pantry. or what? What is this thing here? Oh, it's a little no cranny that I would never put that there. Okay, that's cool. Got the little shiplap going, join whatever Joanna Gaines thing going on. I get that. That's cool. But that's one room and you have carpet. And I know people like to have carpet in their bedrooms. I get that. But you can always do hardwood floors. and then rugs. And if you're selling a bedroom with windows, open up the freaking windows. Yep. That's awesome. You have peached trees covering up your view, there you go. That's awesome. Right man cave, totally dig that. I have to guess that this is it right here. Yeah, because that's where the deck is. Your peach tree's covering everything. Peach Tree should be over here and there's that trail up into Santa Teresa, guac, Bernal Park, whatever park that is. I've walked past this house multiple times and it's on the kind of a crook, so you have a wider lot. That's awesome. I totally get that. But again, not to beat the dead horse. . When you tell people that you think your house is worth 1.2 7, 2 5, and you wait for 106 days to get sold, it's overpriced for what the market is. And I'm not saying this to be mean, whoever the seller is, I don't know who you are, I don't really care. The idea here is you need to price it based. Three things, location, condition, and price, right? Those things matter. And especially in a contracting market, if you have hubris and ego attached to April 22 numbers, you're not gonna get your house sold and you're gonna get frustrated. You're gonna blame me, and I understand that. It's always my fault. I don't . I don't care. I have no ego when I'm selling houses. Listen to your agent. Understand where the market's going. Watch these videos and understand we're in a contraction period. But March, April made that my turnaround. And here's how that goes, right? We tell you, we're hearing little rumors of this and that we're talking about this, we're talking about that you will know a lot more because you live in your little area, your microcosm of an area which is two or three blocks, and you know what's going on. You know what's selling, you know what's not selling. You know what houses are coming. , right? I take care of an entire valley, multiple counties. I can't do that micro view, but I also know that I know what's going on in the big picture, and I can bring that picture down to your microcosm of where you live and it make sense. And I'm not gonna argue with you on price because. , you're gonna put it up. And if you go with me or somebody else, you're gonna go with the person that agrees with you on price. And then they're, if it's wrong, then it's their fault. It doesn't work that way. We want to sell houses. We're not out to make a quick buck, but we're also there to make sure your house sells. And when there's that difference, and I just listened to a podcast. Neil Matley talked about this today. You have those three choices you have as is you have auction and you have full retail. And if it's full retail, it better look brand spanking new. And when you have a house listed at full retail and it's not full retail, your house is gonna say, so that's the story that I wanted to make sure that we understood. That's it for now. I'm going to tell you. Yeah, that's it. Crazy times. Big houses selling for less small houses, selling for more right ho, rightly priced retail looking houses. Selling for 25% over less price in a crazy market. So listen to your agent. Listen to the person that's talking to you. They've been doing this for a while, right? I've been doing this for almost 20 years. This December will be 20 years. And again, we're not trying to make a quick buck. We're trying to guide you into understanding what the market is doing. And that's why you hire professionals, right? It's the same thing. You try to hire a lawyer and you tell him, I want to sue him for $10 million and it's really worth like $200,000. Hope you have a great Tuesday, January 31st, last day of January. We'll see you out there.

Week in and week out. Hi's and Lo's Let's take a look! Want to see other numbers? maybe a map layout? Let me know! Vito Scarnecchia Realtor®, Broker, Veteran, Dad DRE#: 01407676 Website: UPDATE YOUR HOME VALUES HERE If you are moving ANYWHERE in the world - Let me know! I know a LOT of AMAZING Agents! Book appointments here: Home Buyers Course YT IG FB LI Blog POD Professional Photography by Kim E / Compass site: video post-production service for business marketers. $5 trial- Use Vito50 when you sign up… Video Marketing Course for Realtors Try Streamyard!

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