Santa Clara County Hi's and Low's Why aren't interest rates 15-17%? Move to Europe? Car Bubble Is P



115 SFR Homes Sold in Santa Clara County

995 Los Robles Avenue Palo Alto $7,650,000

99.50%

8581 Amanda Avenue, GILROY $641,000

101.90%

1205 Madalen Drive Milpitas $1,935,000

127.60%

4865 Snow Drive San Jose $780,000

78.10%

ML81923101, TM22-209119, ML81921596, ML81915544

These are not my listings.


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Santa Clara County Hi's and Low's Why aren't interest rates 15-17%? Move to Europe? Car Bubble Is Popping


Transcript:

 Good morning, welcome back. Today we're talking about Santa Clara County sold houses, highs, and lows. A little bit more on the news real quick, I wanted to just go over what's going on and give you more of the big picture, the 800-foot view. Mostly because there are a lot of things that I've been talking about over the last year or so about outliers, tipping points, and all this other stuff, and we're seeing it happen. Mostly because I want to talk about the car market. The market. The car market is starting to pop. It's going to pop. They might tell you that it's. But they've held out for so long on reducing the inventory so that it becomes a scarce product so that everybody panic buys and overpays, and they're buying cars that they really shouldn't afford to buy. And when jobs go away. The first one of the first things that go is the big car payments or the big payments. And if you're paying over a thousand dollars a month for a car and you're making 30 or $60,000 a year, you really shouldn't be in a car that much for that expensive, should be in a little tiny Tercel or a Corolla. And you know what? I did that when I was younger when I didn't make a ton of money. I lived humbly, I lived below my means, and today. People. Most people, not most people, but a lot of people don't do this now. When the housing crash happened, it was only 5% of the market really had trouble. The rest of the Mar, the rest of the HO homes, half of 'em are, 60% of 'em didn't have a loan on 'em, so they didn't care. They were like who cares? The other ones bought and live under their means. But 5% of the population that bought houses within that timeframe, Caused all that trouble in 2008, 2009, and 2010. They overbought. They had no business buying. They didn't think it all the way through, and that's what's happening with the car market right now. Is it gonna pop and be the tipping point, the domino of the first domino to fall? Who knows? Possibly. Who knows. So here's the other thing that's happening. We're still I've been mentioning this for the last few weeks, supply our inventory sucks all throughout the United States. Some certain areas aren't so bad and they're wavering. The people are overbought. And there's an oversupply over there, right? For the most part, we're seeing an inventory shortage. We don't have enough houses coming up for sale. Speaking of which, I have a house coming up for sale and I'll show it to you really quick. I did some of the photos yesterday and yeah, we'll talk about that in a minute. But the question really is how come rates aren't going up to what it was back in the eighties. How come their rates aren't going up to 15 and 16 and 17%? It's because of affordability. One thing. Two, it would shock the market too much. And three, the people that are in power well, and it is not politics or red or blue or whatever, it's the people that are in power, they need to keep us suckling onto this thing to keep the business going, to keep the market going and. A lot of people are afraid of a crash, but I've been saying this for a long time. We need a crash. The quicker we tear off this band-aid, the quicker we can go. Let me go over there and put my nogging over here. Why aren't we paying 15, or 17% right now? Because it would totally shock the. It would be one of the best things you could do. I, it would suck. It would hurt. It would hurt a lot more people but for less time. Cuz the people that are suffering right now, they're going on two years of suffering. Affordability. They can't afford their rent, they can't afford their car, they can't afford food, gas, insurance, health, whatever, prescription. Why aren't we due on 15, 17%? Just rip off that bandaid. Get it over and done with. It's up to you to think about that. If you have thought about it, love to hear your opinion. Just knock it down at the bottom and if you have something that you want to talk about, let's jump on a video together. That'd be great. Ever thought about moving to Europe? You're like, Beto, that's so outta left field. That's exactly right. I just need to keep you thinking because people are like, oh, El California's so awesome. They're not saying it's awesome because of you. The drug pandemic issues and the homelessness, but they're saying the weather and all the jobs, but Spain, Portugal, Italy, Greece Croatia, Bosnia, her Sego, Mont Blanc, all these areas down here are so affordable. What would I do for work? A lot of people are still working outside, remote working. Why don't you work there? I, yeah. Just op, I'm probably just brainstorming this right now. That's really what it is. I think I'm just brainstorming, this is where you can go, to this Newbie and this is linked in the things below. And if I don't have it, you can just text me and I'll send it to you. Happy to. But look, the cost of living is 77%. Kosovo was 32%. Groceries. Why wouldn't you move somewhere where you would enjoy a slower, lower cost of living, slower life, lower cost of living, less stress. In Italy, they live they, work to, live here. We live to work. And I just see that as one of the things that. It might be worth a trip to take a look and see. Spend a couple months out here and check this out. Unfortunately, I'm stuck here because I do real estate. Okay, so that's enough. Here are, last week we had 115 closings. Not as much as the last couple of weeks, but it's still not bad because, at the beginning of the year, we were at 60. So the demand is still there, even though. Are covering at six. Again, you can drop that down to five and a half, 5% if you really wanted to buy some points. Gas went up a little bit, so that's gonna slow down. But again, I mean it's not five and six per $6 a gallon like we were paying before I filled up yesterday. I was right at, I had 40 miles. On my truck, I spent like a hundred bucks. It's $98 or something like that, on, on gas at Costco, and it was just a little bit more than that. I wanna say it was four 30 ish. Okay, let's go take a look at these. Lost Robless Avenue, Amanda Avenue in Gilroy, Madeline Avenue, and Mil Milpitas. What I love about this is it's all over the place. We're all over. Milpitas had the highest bump, and snow drive in San Jose right down the street from us. Let's take a quick look. Los Robles. I'm gonna flip these around. Oh no. What did I do? Okay, so the Palo Alto list price was 7.69, so 7.7 on the market. 88 days are six bedrooms, five and a half, two halves, 6,500 square-foot house built in 2022. Let's take a quick look at, the gorgeous house. Look at. Not, 's really my style. It's not something I would dig. Very clean lines. I don't know. It's all right. I don't know if I'd like to see people looking at me. Take a bath. It's the last thing you wanna see in me. It's naked. They have a wall. Oh, that's, a air intake. Cool. Nice boy. It feels dark, doesn't it? 7 million. You'd think you'd have some natural light coming in. Looks like a swath of Nagle photos there. All right. Not my cup of tea, but you know what? There you go. Five en suite plus one flex room. Wow. So each bedroom has its own bathroom. Nice. Good job. It's sold for 99.5% of this price there. The next one is, Amanda Ab, let's go to this one. It's the lowest one sold today, or this last week happens to be Gilroy. Completely opposite sides of the spectrum. That's downtown right here. It's the outlets. Where's that? That's the outlets. So the DMV's right here. I know because my daughter just had her license or driver's test over here. Cool. So there you go. We didn't do the numbers. Four bedrooms, three baths. Built-in 1965. 1,976 square feet. Let's take a look. Single pane windows. Looks like a rental. Lack of maintenance. Yeah, that's a lot of great pictures there. I'm in shock. So listed 629, so for 641, 10.19% over. Let's go to Madeline. All right. Milpitas, right by Milpitas High, right by the bay. Here you go. I drove by there yesterday up to San Lorenzo. That's where our new listing's coming up. This is listed at 1.5. So 1.95 should have been a little bit listed, a little bit higher. So this is a complete flip because it's a flip. It's built in 1966. And look how updated it is. It looks like a brand-new house. It looks like that part's extra. Nice floor plan, crisp, clean, gray. That tells you it's, it smells a flip. Let's take a look at the history. Nope. Okay. And then the next one is, Snow Drive, which is right down the street from where my first house was. My first house was right here, in this cul-de-sac. 645 Plaza Invierno. I want to say 625. Close enough, but look. This is the lowest list price to sales price ratio right by the freeway. A little bit of work. Okay. Semi updated. Whoa. Why would you take a picture from the ceiling, That's it. All right. There's your 10, your highs and lows for Santa Clara County, and the week of April 18th. All right guys. That's it. Hope this was helpful. If there's any information you wanna know about, let me know. If you think this is helpful, let me know. If you think my news reports are completely off base, let me know. I'm open to a talk. We can debate. We can be friendly. We're gonna have some fun. I'm Vito Scarnecchia with Abitano. We'll see you out there.
🔴[LIVE] Tuesday Highs & Lows Tuesdays are fun because we get to see last week's Highs and Lows of Santa Clara Home Sales. Let's take a look! 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.scarnec... LI https://www.linkedin.com/in/vito-scar... Blog http://blog.abitano.com/ POD https://spotifyanchor-web.app.link/e/... Professional Photography by Kim E https://photosbykime.com / Compass site: https://www.compass.com/agents/vito-s... 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/referra... Try Streamyard! https://streamyard.com/pal/5353055951... Try Melon video streaming https://melonapp.com?ref=vitoscarnecchia



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