🔴[LIVE] What does AS-IS really mean? Spring a good time to sell?
🔴[LIVE] What does AS-IS really mean? Is spring a good time to sell? Wednesday 40DOM. 🦅 🌎 ⚓️ REWTF of the Week NAR.Realtor Stats Is now the time to get your home ready for sale? Should you be out home shopping now? When is the best time to sell your home? When is the best time to buy a home?
Vito Scarnecchia Realtor®, Broker, Veteran, Dad DRE#: 01407676 Website: abitano.com update your home value: https://hmbt.co/bT7qRJ RELOCATION@ABITANO.COM 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 Try Melon video streaming https://melonapp.com?ref=vitoscarnecchia "Now is the time to ask sellers for concessions. We have a system that helps our buyers buy homes for less and with terms that work for them. Buyers are still buying, and we're still putting people into homes. Sellers need to sell and smart ones know that they have to give a little today. "This isn't April 2022 anymore. Inflation, higher rates, Stock uncertainty, higher cost of living, and Unemployment loom. This wasn't the case a few short months ago. Today if you need to sell, sell. If you need to buy, buy. Contact Info@abitano.com to learn how buyers are turning into homeowners on their terms today"
Can you believe we're in the third month of 2023? But the actual cool thing about that means that We're looking back just a couple months and we're seeing that the market is coming out of a little thaw to use a nice colloquialism of what's going on right now in California as well as most of the state, right?
In most of the states, we're seeing cold everywhere. There are snow drifts in Los Angeles. I haven't really seen any news reports cause I don't really watch the news. Yeah, it's cold out there. It's bloody cold, and I'm freezing. That's why I have my sweatshirt on. I have my little personal heater on freezing.
But the market's heating up, the market is thawing out, and that's what we're talking about today. So let's go in and take a look. It's a good segue. We will go through this real quick. A couple different articles, but this one was really cool to me. Just thought I'd talk about it really.
The dark blue is where, oh, there you go. Dark blue is where people tend to live in their homes the longest. So it says, wh in which areas are most owners reaching nine years of tenure. Basically, how long do you live in your house and where, what areas are people living in their house longer? And Vegas is at the top.
Las Vegas Henderson Paradise. 21% of the people have lived in their homes for nine years or more. And the same thing with Austin. Seems to be a good place to live. However, look, that's the Central Valley right there. , right? This is Santa Clara County, so that's sun status laws, Tumi, all those little areas right there.
People tend to live there, and then they just live there. And then there's Sacramento, and then whatever's contra cost and what's above there really should know my thing. My but over here too. So here are the numbers. Most of it's like Arizona. In Texas, Cape Coral, Fort Myers, which is weird because when we do our numbers, I look at Cape Coral and there are a ton of homes for sale.
So I think once you get there, you're there. Unless you're a snowbird, and then you just stay there when it's moderate weather. When it's cold wherever you're from Wisconsin, and then you move down to Florida when it's warmer. Same thing with Ontario. Riverside, San Bernardino, Des Moines, Iowa, Tulsa, Oklahoma, Durham, Chapel Hill.
We actually looked at moving there. That's a nice place. So anyway, that's a nice little thing to look at. Is spring really the best time to sell a house? Statistically, yes, but that's when you get premiums. That's when you do everything. But here's, the trick that they don't really tell you.
Is now the time to get your home ready for sale?
When is the best time to buy a home?if you're getting a premium on the house you're selling, you're going to be expected to pay a premium for the house you're buying unless you are being relocated and you rent for six months to a year and then you find the house that's right for you. That's always an option, but most people just go in and they don't want to move twice.
It's a pain. I get it. anytime is really the best time because strategically, I can tell you from experience that when the market is slow, it's the best for people that struggle to get into houses. Don't want to pay a premium and also have a house to sell. So how? Buy a, sell a house, and buy a house at the same time, right?
Unless you have a ton of cash, you don't worry about it, and you don't need the equity outta your house. Then that's what is going on. But I've been talking about this for a while now, and this article came up. I thought I'd share it. If you want to see it, let me know. I'll send you the link.
REWTF of the Week
When is the best time to buy a home? This week's r e w t f guys, this It's not even, it's not only the cost of the washer, right?
I know you're des destroying government property. That's not my hand. So don't yell at me. But it makes sense because it's not only that, it's the time that it takes to get you to the hardware store, take around and find it, and then you're off looking at different things. Cuz that's what got you.
You do. Anyway. Brilliant. I thought it was awesome. What else did that Sellers spice. Okay, so let's get into the numbers real quick. Buy the numbers,
When is the best time to buy a home?
The big question is, should we out home shopping? Yeah. If you're in the market if you've been in the market and you were frustrated, yeah. Go out there and buy a house. If you're thinking about selling a house, get it ready to sell. The spring season is the time to sell, right?
Are you going to get a great deal, eh? Yeah. Is the market going to heat up? I don't know. I'm, betting that we will see rates go down below five 6% between five and 6%. But right now, if you're getting those quoted rates at 7%, then you know you will not really have an opportunity to get a whole lot of money out of that house.
What does AS-IS really mean?
But again, it doesn't matter what does, as is really. If you have the opportunity to get an As, that is how they see it, right? If you are doing all the inspections and you're disclosing everything and everything that you say upfront is, as is yes. However, understand that there are certain things that they can do.
They have 17 days on our contract to do due diligence, on the house that they're buying. They need to know, and they have the right and duty to know and do their own investigations. So if they see something within the report that doesn't sit right with them, they have the right and duty, and you have the right and obligation to let them do the investment.
When is the best time to buy a home?You need to understand that it's where lawsuits happen. It's where fraud happens. It's where you lose a lot, and then you get to blame me because I didn't tell you, but I'm always telling you this. It's better to over-disclose. I don't know how many times in my lifetime I've ever said that.
It's better to over-disclose. If you're not over-disclosing, then you're holding something back and you should scare away a. Then to defraud a buyer just on the fact that you'll be able to sleep at night, but also if they find something, they have the right to come back and sue you or ask you for compensation for that because you didn't tell them about it.
What as is means is they're buying the house as you disclosed it, right?
If it's a market where 20 buyers are trying to buy that house, the buyer doesn't have as much leverage as if there is one offer on a house or two offers on a house. The right to come back and say, Hey we're, ready to go. Let's do this. Oh, by the way, we found this crack in the tile.
We want some money. Fix that, or the roof isn't as new as you specified, and I had a roof inspector come out and take a look at it, and he says that there are five years left on it. Your inspector said that there were 20. You said that it is 15 years old. Something's wrong with the roof. I want credit for that.
They have the right and obligation to do that. They have the right duty to do their own due diligence. All right. Home inspection. Even though we do a home inspection, the buyer has the right to do their own home inspection, even though. home inspector I bring in is a third party. He's unbiased. He knows he will disclose everything because it's his license.
His, insurance is his lawsuit if he doesn't catch something. So he's going to over disclose everything, but then the buyers are always going to come in and say, Hey, we need to find something extra, so let's go look for this, and this. It's a ploy. disclosure, I tell you this over and over again, it's better to over-disclose.
Okay? Enough harping on that. When you go to sell your house, just disclose, just make it easy for yourself, okay? If you're, if you want to know what the value of your home is, it's a little commercial. Yes. This is a commercial. If you want to know what the value of a home is, Pop your address in there and send it to me.
And then once or twice a year, I'll send you a physical, very tightly personal Competitive Market Analysis so you can see what the value of your home is. Just something for you to know about. Yep, that's it. Homes in San Jose, 251 Active homes in San. It's consistent, we're about 250 right now. Let's see what that number says.
San Jose Sales Report 40DOM. 🦅 🌎 ⚓️
Putting it roughly, we had 55 closes last week compared to last week. A year ago was 97. So when you hear those nights, those articles, those news reports saying the markets crashing its cuz of the volume of sales have crashed. The values have come down quite a bit. But that's cuz. People aren't willing to pay $400,000 over the list price anymore, right?
Last year they were paying 20% over. Now they're just paying right underneath. Two weeks ago, we had it just over a hundred percent, which is great. We celebrated that This week we're at 98% on average. We've had 30 out of the 55 homes sold over the list price. We use a full of crap.
Yep. Days on market is 26 versus nine on average last year we have 69 homes that went into contract last week. This number is starting to grow. Guys, these numbers are coming back. Are they going to be the same crazy firestorm that we had two years ago? N. This is coming back to a normalized market, and we need that.
We need a normal market to help buyers help. Help normal buyers buy homes, not multimillion-dollar homes, right? This guy right here bought a 10,000, $10 million home. You can afford it. All right. We only had 19 cancellations these last seven days. 20 of 'em, 20 contracts fell out contract or offers ratified contracts fell out of contract, and then we had 50 list price decreases cumulatively.
So that number's starting to run down, which means people are starting to buy at price and we're pricing it correctly. Let's see.
All right. It's been 13 minutes. Get on your work, get back to work. It's March 1st. It's a crazy day. There's lots of stuff going on. This weekend. Get out and have some fun even if you get wet. Stay frosty.
0:04 MARCH ALREADY!!?
3:09 Is now the time to get your home ready for sale?
4:23 REWTF of the Week
4:50 When is the best time to buy a home?
5:44 What does AS-IS really mean?
9:40 San Jose Sales Report 40DOM. 🦅 🌎 ⚓️
11:33 Should I BUY NOW?