🔴[LIVE] US REAL ESTATE INVENTORY WATCH.
🔴[LIVE] US REAL ESTATE INVENTORY WATCH.
New Listing! http://blog.abitano.com/2023/05/Phyllis.html
"🔴[LIVE] Thursday US REAL ESTATE INVENTORY WATCH.
Donut Fest Silicon Valley https://www.facebook.com/events/2494228087562832/?ref=newsfeed
BLOG Subtle Self-promotion
Beautiful Day https://www.beautifulday.org/become-a-volunteer/
How to Get Smoke Smell Out of Your House https://studio.youtube.com/video/wGNY_hNICXc/edit
What you get for $1MM Santa Clara County
Your home is worth... https://bit.ly/AbitanoHomeValuation
new market video https://youtu.be/iEnlrURFx3s
REOs are leveling off.
San Jose Real Estate Sales are moderate All these questions and more are unpacked in this edition of Silicon Valley Living! We’re talking about affordability right now. FHA and VA are big options right now. Map tour of Willow Glen https://www.youtube.com/watch?v=LQgOUjf2QCc California Housing Market Trends | Real Estate Inventory is spiraling across the US Get out and buy now. If you think the market will fail, then don't. If you wait, and rates go lower, you will see 2021 all over again. "
Links
View on YouTube
View on Facebook (Vito Scarnecchia)
View on Facebook (Abitano Group)
View on Facebook (San Jose Living)
View on LinkedIn
The weekend is here. The weekend is here. The weekend is here. Yay. Good morning. It's Fri it's Thursday. It's almost Friday. It's almost the weekend. And I cannot wait to do this thing. That, that it. I don't know if you know me or not, but I love my donuts
That's the first thing we're talking about today. We have in Santa Clara County, let me get over here so I can get down here. Donut Fest, Silicon Valley. Yay. I think this is the first one. I have no idea what it's about. The link is down below and I want you to go and support this. Please. It's this, I gotta tell you, it's this Sunday, one to 5:00 PM Go get a donut.
All right. Go click on the link and figure out how to get down there. Looks like there are going to be some food trucks and some beer. I've never had beer and donuts, but you know what? Anything is possible. Go do this. It's done by the Hospitality fund and I think that's a fundraiser, so please support this service.
Donuts, yes, a little subtle self-promotion as well. Just so you know, gotta move this silver. I do. I do this video every day. I do it four days a week. I do a foundational video like How to Sell Your House late this week. Don't know exactly why, but I have that. And then I do shorts, but I also do a blog and I also do.
A, podcast, and it's the same thing. Everything you hear here, the same thing that I'm saying is transcribed for you so you can read it if you enjoy reading. So you can read my pigeon English, or you can go to the podcast and I give you all the links as to where you can find it. So here's the link to the podcast.
This is the podcast right here. Allows you to check things out, and then you get to do whatever it is. So my idea is I want to make sure that if you're interested in what I'm ha, and what I have to say, you don't have time to watch me on YouTube or Facebook. It's available on podcast. There you go. Just thought I'd help.
See if it's worth your while. As you I recently became acquainted with this last year. A Beautiful Day is a community impact organization that goes out to places in San Jose and Silicon Valley and helps people. Make, this area better. And it's all done by a church, but it's great and everything, but what I want is for volunteers to come and help out.
And it's sometime in October, I'll be pitching this quite a bit. Want you to volunteer, and be involved. I am volunteering to be a lead or a sub lead and you know that I'm all about service, about giving back, about being part of the community, about being. Part of us and enjoying that. So not just for me, but so my children can watch us serve and give back to our community.
And that I have I've always been involved in our kids' schools. I've adopted a park. We do the bike by purch the bike program at the end of the year. For every house we sell, we buy a bike. And this is just one extra layer of, stuff that we can do to help build our community, make our community better, and I'd love it if you showed up.
Brought a hammer. You don't even have to bring any tools. You don't have to have any kind of construction knowledge or what have you. There's so much stuff that goes on during that one day. It's actually a whole weekend, but it's just a really fun, great weekend that we get together and become part of a community.
So I implore you to jump in there and it's beautiful day.org. The links are down there. There you go. Okay. That's the three things you need to know. This next thing is me promoting my video, on my YouTube channel, and it is about how to get Smoke Smell outta your house. So if you wanna watch it, it's there for you to watch.
And then I didn't do this today. I can do that quickly for you if you want, but there you go. Yeah, this is the reality time thing here. Four things home buyers really want in Kip Kitchen cabinetry. Now, I'm not telling you to do this because I want you to sell your house and spend 70, 8,000 grand on a new kitchen just to sell your house.
I'm not doing that. I'm saying that, if you own a house and you won't upgrade your house, do it for you. Do it for your needs and your wants and your desires. Absolutely. But also put these things into mind right when you're doing it. And I'll give you a couple other tips because I've done my kitchen twice.
The first time is because it was original and the second time it was because the person that installed the dishwasher put a little hole in the drain line and it destroyed the kitchen box, and the cabinets. The second time, I learned a lot of lessons. The first time I thought it was a great, kitchen setup, but that was me.
Spend the quality, spend time or money on quality, it's, it will serve you. Make sure you get plywood boxes, not the MDF or multiple, density fiberboard. Don't get the cheap stuff. Don't get the stuff at Home Depot or Lowe's or Ikea is okay, but you're you're going to get what you get, but.
Don't expect to say this is a premium product. We got custom cabinets, which were not much more expensive than modular. We got the CLO custom closing, and we got the soft closing. We got everything we wanted, and it was not that much. It was probably five or 10% more expensive than what modular was.
So spend the extra money and get the extra quality. Symmetry is important. You wanna make sure, especially from your stove oven, that it, goes out and it catches your eye and it makes it feel balanced. It's very important. Even your cut your, oven and then also your sink. It has to be balanced. Make it look completely even.
Yes, light and bright. I'm telling you, this is like the number one thing I tell you, people, when I sell houses you want to sell bright. Airy open spaces and that's exactly what you do. If you looked at my kitchen, it's white, bright, and airy. And you wanna make it as open as possible. When we did our first kitchen layout, we actually moved it out two feet because the dishwasher gave was so close to the corner that you could you couldn't put dishes away.
You would have to pick 'em up, put 'em on the counter, and then put 'em away. That was just horrible. So I moved everything up two feet and now you can go around the dishwasher. Some of the things I can tell you, From this current build that we did, this is five or six years ago. So make sure that when they do the tops, and the counters, the joints are offset to the joints of the countertops.
So you have the underlayment, which is usually three-quarter-inch plywood. And if it's like this right, you wanna make sure that the counters. The countertops are like this so that there's, it floats better. The second thing is, if you go all white, that's fine. If you're going to put a color and make it dark on the darker, on, like a gray on the bottom, and then white on the top, make sure you tell them to color the primer the same color as what you're painting it.
Because my little children and I love them, so they chip and bang and dang. And whenever they put dishes and pots away from the dishwasher, they don't care and they chip up our. Cabinets. And now if you looked at our bottom cabinets, which is like a gray toe, whatever color little white pings everywhere and it drives me crazy.
So that's the big thing that I want you to take away. All right. Let's take a quick look at the inventory. Inventory is. Massively low all the way across the nation. We already talked about that yesterday. We talked about that here. Was it this one? No.
Inflation is down and continues to slide. This isn't a lot. Half a million active listings and this is everything, right? Commercial, mobile, condo, what have you, half a million units across the United States is nothing. It should be one to 1.2 million units at any given time. We're dangerously low. But that's keeping your pricing, your house pricing relatively high.
We just sold a house in San Lorenzo of all places, and it's a modest home. It was there's nothing gr new kitchen. The bathrooms were really nice, but it was an older home. It was built in the fifties. It's, I would say it's smaller and it's been it, had an addition put on it. So it had this kind of a weird layout.
The good thing about it was on a corner in Inside Corner a lot, so it was a little bit larger and it was inside a community that was very highly sought after, which I think was the winning thing for it. But also there's just not a lot of inventory out there for well-built, well-maintained homes.
And this is a well-maintained home and we listed it at 800,000. It was a crazy weekend. Massive pun. Tons of people coming in. My phone rang off the hook. My agent's phone rang off the hook. It just, it was mass chaos and we came in and got we wound up getting 13 offers.
So well-maintained homes, moderately priced for the area. Again, 800,000 for Santa Lorenzo is a little bit up there, but for that area it made sense. We got 13 offers. And we actually sold it for $900,000. A hundred thousand dollars more crazy, right? Great for the sellers. So happy for 'em. We actually had two offers that were over it, but both of 'em had appraisal contingencies.
This other one came in as is no contingency close in 21 days. Everything that we could, I mean everything that we could look at, everything that we could want, right? Not to brag, it's just, that's just the com, that's just the way the, market is. When you price your house correctly, when it's done correctly, when it's presented correctly and it's marketed correctly, you're going to get a pleasant, surprise.
Okay, so plus when inventory's low and demand is starting to curve up, because again, this is the buying season, you're going to get crazy offers like that. We have a couple more houses coming up. I'll share the results with you when that happens.
So inventory in San Jose went up slightly except for the actual m l s value. Went down Tampa, and it went up. Cape Coral went up by not a whole lot, and we just look at the numbers are very, flat. Atlanta, there's something broken with Atlanta because nobody's buying or putting houses on the market. I have no idea what's going on.
It's been the same number for three weeks in a row. And I triple-checked it. LA is down. Chicago's down. New York is up. Again, not spiky numbers. No, not hugely spiky numbers. That actually should be. Now that's up. That went up quite a bit. That's a pretty big jump by 200, almost 300. Phoenix is down.
Nashville's down. Knoxville's up by four. So again, flat Jacksonville is down. Chattanooga's down. So again, we're seeing like this and we're at a downward slope of, inventory across the nation, and that is going to keep housing house pricing moderately high. I think we've seen the contraction.
Again, the world economy could explode today or tomorrow, and everything's different, right? But at the end of the day, we have people that are interested in buying homes. We have people that are out there buying homes, and it's not, going to happen. So there you go. All right. 15 minutes almost on the dot.
I'm Vito Nikia. Have a great weekend. I hope to see you at the Donut place. We'll see you out there.
Links
View on YouTube
View on Facebook (Vito Scarnecchia)
View on Facebook (Abitano Group)
View on Facebook (San Jose Living)
View on LinkedIn
The weekend is here. The weekend is here. The weekend is here. Yay. Good morning. It's Fri it's Thursday. It's almost Friday. It's almost the weekend. And I cannot wait to do this thing. That, that it. I don't know if you know me or not, but I love my donuts
That's the first thing we're talking about today. We have in Santa Clara County, let me get over here so I can get down here. Donut Fest, Silicon Valley. Yay. I think this is the first one. I have no idea what it's about. The link is down below and I want you to go and support this. Please. It's this, I gotta tell you, it's this Sunday, one to 5:00 PM Go get a donut.
All right. Go click on the link and figure out how to get down there. Looks like there are going to be some food trucks and some beer. I've never had beer and donuts, but you know what? Anything is possible. Go do this. It's done by the Hospitality fund and I think that's a fundraiser, so please support this service.
Donuts, yes, a little subtle self-promotion as well. Just so you know, gotta move this silver. I do. I do this video every day. I do it four days a week. I do a foundational video like How to Sell Your House late this week. Don't know exactly why, but I have that. And then I do shorts, but I also do a blog and I also do.
A, podcast, and it's the same thing. Everything you hear here, the same thing that I'm saying is transcribed for you so you can read it if you enjoy reading. So you can read my pigeon English, or you can go to the podcast and I give you all the links as to where you can find it. So here's the link to the podcast.
This is the podcast right here. Allows you to check things out, and then you get to do whatever it is. So my idea is I want to make sure that if you're interested in what I'm ha, and what I have to say, you don't have time to watch me on YouTube or Facebook. It's available on podcast. There you go. Just thought I'd help.
See if it's worth your while. As you I recently became acquainted with this last year. A Beautiful Day is a community impact organization that goes out to places in San Jose and Silicon Valley and helps people. Make, this area better. And it's all done by a church, but it's great and everything, but what I want is for volunteers to come and help out.
And it's sometime in October, I'll be pitching this quite a bit. Want you to volunteer, and be involved. I am volunteering to be a lead or a sub lead and you know that I'm all about service, about giving back, about being part of the community, about being. Part of us and enjoying that. So not just for me, but so my children can watch us serve and give back to our community.
And that I have I've always been involved in our kids' schools. I've adopted a park. We do the bike by purch the bike program at the end of the year. For every house we sell, we buy a bike. And this is just one extra layer of, stuff that we can do to help build our community, make our community better, and I'd love it if you showed up.
Brought a hammer. You don't even have to bring any tools. You don't have to have any kind of construction knowledge or what have you. There's so much stuff that goes on during that one day. It's actually a whole weekend, but it's just a really fun, great weekend that we get together and become part of a community.
So I implore you to jump in there and it's beautiful day.org. The links are down there. There you go. Okay. That's the three things you need to know. This next thing is me promoting my video, on my YouTube channel, and it is about how to get Smoke Smell outta your house. So if you wanna watch it, it's there for you to watch.
And then I didn't do this today. I can do that quickly for you if you want, but there you go. Yeah, this is the reality time thing here. Four things home buyers really want in Kip Kitchen cabinetry. Now, I'm not telling you to do this because I want you to sell your house and spend 70, 8,000 grand on a new kitchen just to sell your house.
I'm not doing that. I'm saying that, if you own a house and you won't upgrade your house, do it for you. Do it for your needs and your wants and your desires. Absolutely. But also put these things into mind right when you're doing it. And I'll give you a couple other tips because I've done my kitchen twice.
The first time is because it was original and the second time it was because the person that installed the dishwasher put a little hole in the drain line and it destroyed the kitchen box, and the cabinets. The second time, I learned a lot of lessons. The first time I thought it was a great, kitchen setup, but that was me.
Spend the quality, spend time or money on quality, it's, it will serve you. Make sure you get plywood boxes, not the MDF or multiple, density fiberboard. Don't get the cheap stuff. Don't get the stuff at Home Depot or Lowe's or Ikea is okay, but you're you're going to get what you get, but.
Don't expect to say this is a premium product. We got custom cabinets, which were not much more expensive than modular. We got the CLO custom closing, and we got the soft closing. We got everything we wanted, and it was not that much. It was probably five or 10% more expensive than what modular was.
So spend the extra money and get the extra quality. Symmetry is important. You wanna make sure, especially from your stove oven, that it, goes out and it catches your eye and it makes it feel balanced. It's very important. Even your cut your, oven and then also your sink. It has to be balanced. Make it look completely even.
Yes, light and bright. I'm telling you, this is like the number one thing I tell you, people, when I sell houses you want to sell bright. Airy open spaces and that's exactly what you do. If you looked at my kitchen, it's white, bright, and airy. And you wanna make it as open as possible. When we did our first kitchen layout, we actually moved it out two feet because the dishwasher gave was so close to the corner that you could you couldn't put dishes away.
You would have to pick 'em up, put 'em on the counter, and then put 'em away. That was just horrible. So I moved everything up two feet and now you can go around the dishwasher. Some of the things I can tell you, From this current build that we did, this is five or six years ago. So make sure that when they do the tops, and the counters, the joints are offset to the joints of the countertops.
So you have the underlayment, which is usually three-quarter-inch plywood. And if it's like this right, you wanna make sure that the counters. The countertops are like this so that there's, it floats better. The second thing is, if you go all white, that's fine. If you're going to put a color and make it dark on the darker, on, like a gray on the bottom, and then white on the top, make sure you tell them to color the primer the same color as what you're painting it.
Because my little children and I love them, so they chip and bang and dang. And whenever they put dishes and pots away from the dishwasher, they don't care and they chip up our. Cabinets. And now if you looked at our bottom cabinets, which is like a gray toe, whatever color little white pings everywhere and it drives me crazy.
So that's the big thing that I want you to take away. All right. Let's take a quick look at the inventory. Inventory is. Massively low all the way across the nation. We already talked about that yesterday. We talked about that here. Was it this one? No.
Inflation is down and continues to slide. This isn't a lot. Half a million active listings and this is everything, right? Commercial, mobile, condo, what have you, half a million units across the United States is nothing. It should be one to 1.2 million units at any given time. We're dangerously low. But that's keeping your pricing, your house pricing relatively high.
We just sold a house in San Lorenzo of all places, and it's a modest home. It was there's nothing gr new kitchen. The bathrooms were really nice, but it was an older home. It was built in the fifties. It's, I would say it's smaller and it's been it, had an addition put on it. So it had this kind of a weird layout.
The good thing about it was on a corner in Inside Corner a lot, so it was a little bit larger and it was inside a community that was very highly sought after, which I think was the winning thing for it. But also there's just not a lot of inventory out there for well-built, well-maintained homes.
And this is a well-maintained home and we listed it at 800,000. It was a crazy weekend. Massive pun. Tons of people coming in. My phone rang off the hook. My agent's phone rang off the hook. It just, it was mass chaos and we came in and got we wound up getting 13 offers.
So well-maintained homes, moderately priced for the area. Again, 800,000 for Santa Lorenzo is a little bit up there, but for that area it made sense. We got 13 offers. And we actually sold it for $900,000. A hundred thousand dollars more crazy, right? Great for the sellers. So happy for 'em. We actually had two offers that were over it, but both of 'em had appraisal contingencies.
This other one came in as is no contingency close in 21 days. Everything that we could, I mean everything that we could look at, everything that we could want, right? Not to brag, it's just, that's just the com, that's just the way the, market is. When you price your house correctly, when it's done correctly, when it's presented correctly and it's marketed correctly, you're going to get a pleasant, surprise.
Okay, so plus when inventory's low and demand is starting to curve up, because again, this is the buying season, you're going to get crazy offers like that. We have a couple more houses coming up. I'll share the results with you when that happens.
So inventory in San Jose went up slightly except for the actual m l s value. Went down Tampa, and it went up. Cape Coral went up by not a whole lot, and we just look at the numbers are very, flat. Atlanta, there's something broken with Atlanta because nobody's buying or putting houses on the market. I have no idea what's going on.
It's been the same number for three weeks in a row. And I triple-checked it. LA is down. Chicago's down. New York is up. Again, not spiky numbers. No, not hugely spiky numbers. That actually should be. Now that's up. That went up quite a bit. That's a pretty big jump by 200, almost 300. Phoenix is down.
Nashville's down. Knoxville's up by four. So again, flat Jacksonville is down. Chattanooga's down. So again, we're seeing like this and we're at a downward slope of, inventory across the nation, and that is going to keep housing house pricing moderately high. I think we've seen the contraction.
Again, the world economy could explode today or tomorrow, and everything's different, right? But at the end of the day, we have people that are interested in buying homes. We have people that are out there buying homes, and it's not, going to happen. So there you go. All right. 15 minutes almost on the dot.
I'm Vito Nikia. Have a great weekend. I hope to see you at the Donut place. We'll see you out there.
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