Monday Madness Morning Report update on weekend activity
Monday Madness Morning Report update on weekend activity
What a quick weekend!
Home Sales are picking up speed.
We're seeing multiple home buyers at showings now.
Upward pressure, despite the upcoming recession and population decline? WHY??
Let's take a look at the 10 county trends of the San Francisco Bay Area.
Monday. Monday. Happy Monday everybody. What a crazy weekend.
I took some time off and spent it with one of my daughters because my other one's being 16. She wanted to not have anything to do with us, which is okay because you know, I did that same thing when I was 16.
My daughter works at Oak Ridge movie theater, and she gets free tickets for the family every once in a
while, which is great, right? Except for yesterday, we d she decided she wanted to go see Groundhog Day. Bill Murray Andy McDowell. Romcom from the eighties. Cool movie.
It was a great movie. But because it wasn't part of the standard lineup and there was this thing where we
don't get free tickets, so I had to pay, but it doesn't matter. The fact is we got to have some family time.
So that was awesome. Certainly, the fact that I worked pretty much.
The entire weekend Anyway, Friday and Saturday morning I worked on a deck. A friend of mine had a
deck that he had to redo. My construction background and my back were put to use good use, which I
enjoyed except for the fact that afterward, I was in so much freaking pain.
I'm still limping around, but that's what happens when you get older. Saturday afternoon, my girls had a
gymnastics tournament in Watsonville, Santa Cruz they call it a tournament or what have you. And we sat
on aluminum beach bleachers for four hours, which exacerbated the situation on my back and my
And so I was. In so much pain, thank God for Tylenol. The once in a while that you take it. Yesterday was
crazy too. My listing had six or seven showings, which wasn't normal. We did lower the price, but I also
showed houses. I showed houses all over the place. We got into a contract with another buyer.
Buyers are buying
The buyers were up in the mountain. I have two new referral buyers that I'm working with and these two
other current buyers that I'm working with. So I showed houses yesterday to two sets of buyers and
everywhere we went, it was busy. , it was an open house. One was an open house, but it was just like
There were a lot of people just swarming around. A lot of buyers are out there and it's exactly the opposite
of what the news is telling us. Is this calm before the storm or is it the storm before the recession? I don't
know. I honestly don't know. I don't know what's going on, but I do know that houses are getting into.
We are still seeing houses sell. We're seeing houses slowly close. And then we do that on Wednesday
and Thursday. But I wanted to quickly take a look at the numbers just across the Bay area, 10 counties. I
want to. Show you where the numbers are now. We talk about this every Monday, right?
Monday Morning Report
This is the morning report. Monday Madness Morning report. So last week we saw this and we saw that
Santa Clara is down 99% and we dropped a little bit. These numbers are reported over 22. So for the rest
of the year, we're going to be seeing these numbers. , these weekly numbers are compared to this data
right here, and this data can change.
So every three months I'm going to check this to see if that number changes. But based on the population,
You can use some numbers to extrapolate and this chart right here is important. This is just one county,
Santa Clara County. You can see prices fluctuate up and down over time, right? If you took a straight line
and created a straight line over the last five years, you will see that the numbers haven't changed a whole
lot, even though we had an all-time high of almost 2 million.
Now we're back down to one point. That was December. These numbers are going to come back up. As
I said these numbers change all the time. So this number was 2.1, 2.1, 2.1, and then just under 2.1.
So we're seeing still a slight contraction. Santa Clara Solano is the smallest county that we use, and it's
the least expensive.
I can't say the poorest. It's the least expensive, and we're seeing. an increase as well in Sonoma, as well
as Napa, and Marin. So everything in the North Bay, if you take a look at this map take a look at the .
Everything in the North Bay is doing healthily for January. It's crazy.
And these are reported weekly, so these are just yeah. You look at the South Bay, which is just Santa Clara
County. we're slightly declining. There's no major downtick like the news. What have you seen? We are
seeing this over time. This is over two year period. We're seeing a slight population decline.
Now, you can see, oh, San Francisco makes sense. Alameda, where Oakland is. It makes sense. Santa
Clara, where San Jose, downtown San Jose is. It makes sense, right? You see these declines, but if you
look at the decline in those areas, we're reported as one of the worst areas across the way, across the
United States from the census.
Now, this is just one year, 20 to 21. This is when they did their census tracking. Everything in green is
where you saw major growth, right? There's Austin, down here, Dallas, Fort Worth, here. There's Reno.
Las Vegas. So you see a migration of places to where it's warmer and a little freer, et cetera. People got
outta California and moved to Idaho, Oregon, and Washington.
If you are moving to the Seattle area, I have an amazing pair of agents and an awesome team. If you're
moving to Oregon, even down south here, I have some great agents down there. Arizona and New Mexico. New Mexico did see quite a crash in population, but that's just because there's no major industry there.
Hint, if you're going to grow something, grow there. This is the whole impending doom thing, and this is
real-time, right? February 1st. We're seeing 1.27 for the three 10-year versus three-year treasury yields.
This is what everybody's basing, oh, we're going into a recession. I don't see it. The stock market did
great last week.
Unemployment's down to a historic low of like 19, since then, like in the 1970s, and 1980s. I don't see,
I don't see where we're going into a recession. Maybe it's because we're going into massive inflation. We
have our rates up. We're seeing that slow down. You talk to some of the economists and they're like,
whoa, we're nut down to the 2%.
I think maybe this is the new normal, who knows? But going back to this whole chart here, remember, this
is the tech, this is the hub of technology, right? Most people come here, especially in the South Bay area
Peninsula, they go there too. Find high-paying tech jobs. You can go to Texas, you can go to Idaho.
There are all these different Silicon Valley upstarts over there, but this is truly where the money is, and it's
a crazy amount of money that you see being thrown around. What we're seeing here in San Jose is we
are seeing a contraction. I think that's normal. Mostly because. The way the government's working their
People don't like to see trash on the streets and San Jose's not cleaning up their streets. We have a
massive homeless problem just like San Francisco, just like Oakland. If we clean that area up, and maybe
Mr. Matt, the honorable Matt Mayhan, when he comes in, he can turn things, turn things around, and have
the police force clean up this town.
That would be great. I'm not saying he is going to promise to do that, although he did. But you need to
clean up the area to make it attractive to people. People are opting to go to different cities in Santa Clara
County and pay a little bit more so they don't have to see the dereliction of the government.
Okay, that's it. 10 minutes. I think we're all doing well here. Everything's going great. The trends are, we're.
, we're seeing a healthy market here. Even if the market crashes in Idaho or Austin or what have you, this
might, we're going to see a little bit of correction cause it's humanity. But I don't think we're going to see
massive crashes because we have way too much equity in all the houses that were bought and sold in the
last three or four years.
Anybody that's in major trouble could still sell their house and not lose their ass unless they're foolish about
their money. And people here typically are not foolish about theirs.
All right. I'm Vitos Scarnecchia with the Abitano Group, powered by Compass. We'll see you out there.
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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