Santa Clara County Hi's and Low's
Santa Clara County Hi's and Low's
- Santa Clara County Hi's and Low's
- Is Feng Shui a thing?
- New Home Builders cancellation rates
- CALHFA 2564 contracts in 2 weeks
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Vito Scarnecchia
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Santa Clara County Hi's and Low's
Good morning. Today we're talking about a house that closed and gets both the honor of the highest and the lowest sell Sold home in Santa Clara County this week, as well as talking about, is Feng Shui a thing? What happened to Cal h f a and what was the other thing? I just lost it. Oh, new home builders.
Let's get.
Hang on a second. Let me go back to my streaming thing. I'm still trying to figure this out. All right, so today we had, or this last week, we had 137 homes sold, closed in Santa Clara County. The rates have gone down quite well. Now, again, these are non quoted rates. You can't say Vito Sudo, I can get 5.99 with a jumbo.
Or this was 5.99, just went up one point or 10th of a print point. This doesn't have anything to do with your quoted rate. You still have to apply. Look at your credit, look at your job history, look at your reserves. Look how much money you make, look how much the house is worth, that kind of stuff.
And you still have to pay the lender, right? So understand that. There's certain things that you have to pay for on top of these numbers, so generally speaking, you're looking at under six today. If you pay a point or so or two or whatever, depending on your credit, gases come down quite a bit. Six, 6 cents.
Over the last week. That's nice. 137 closed homes versus 130 last week. If you talk about this, we're seeing volume go up, closed sales go up, and it, if you look back four weeks, we're looking at over 6%.
So everybody's freaking out. Oh, the pr, it doesn't matter guys. It doesn't matter what the rate is. It never mattered. It'll slow down. It'll make people hesitate. It might put some people out of the market because of affordability, but when rates are, at six and a half or four and a half, it doesn't matter.
Yeah, you can afford a whole lot more when it's four and a half, but you have a whole lot more people. Affording four and a half percent, or two and a half percent, or three and a half percent, which means you have more competition. So now is the best time to buy. What happens when the market crashes? One, we don't know if it's going to crash or not, it possibly could.
Everybody's expecting it, but there's a lot of signs that if the economy crashes, prices probably won't crash. Mostly because there's lack of inventory. The low cost of homes, or the low cost of interest, the low interest rates that were out there. So people that are buying now are buying for the future.
Okay, let's get into this. The highest and the lowest sold this week is drum roll pre please. Donna Lane. In Saratoga, it had the honor of being the highest priced as well as the lowest. List price to sales price ratio. If you can see that, maybe I can expand it a little bit. Out of all the houses that sold out of the 137 houses that sold Donna Elaine sold for 8.45 million, which is also 85% off of the original.
This. And it was a hundred year old house in Saratoga, 500 or 5,888 square feet, and it was on market for almost a year. It looks like 11 months or 10 months. Yeah, lemme break this out so you can look at it. This, these are not my listings. If you wanna look at who's who the listing agent is and who the buying agent is, let me know.
I have these on record so I can send them. But this is a beautiful house. We talked about this yesterday, a nice old farmhouse, coffered, ceilings, and see what I've been seeing a TikTok about a guy that's going, what's white trash or high end, and guys, Dark cabinets are high end. I'm telling you. It's funny cuz every time we look at this, dark cabinets are high end.
The painteds, the painted cabinets, it's paint grade. I don't know how else to explain it to you. Yeah, you could take these and they're older, right? It's a hundred year old house. These were older cabinets that even though it was remodeled, it looked like it was remodeled back in the eighties, nineties, even the early two thousands.
Look at, there's two dishwashers. There's a wine cabinet there, there's a big stove top there, but they're not modernized.
Right.
Look at that. Look at that. It's gorgeous. Yeah. Next time I have $10 million, I'll drop a something on this one. Something like this. That's nice. I'll, start playing the lottery maybe. That's gorgeous. That is just yeah, there you go.
Okay, so let's go back to this and take a look at Water Street, which is the lowest sold house, $775,000. Original list price was 680, sold for 10.9% over list.
Wow. That's what you get for $775,000. Holy moly. We were so poor. We didn't know we were broke. Look at that like it's true, right? Doesn't matter. That's crazy. What can you get for $775,000? And another part of the US is, wow, that's just crazy. All right. Three bedroom, one bath, 932 square feet, almost. That's 180 7, so that's one eighth of an acre.
Probably sold to an investor. Yeah. Go back to this and then we're going to go to the highest. Closed ratio, 37.5% over list price. North White Road. I didn't get a chance to take a look at this, but look, it's a pretty regular home. We're not going to go through 80 pictures, but looks like they flipped it. I don't know about that color.
That looks like the original Star Trek, captain Kirk Tonic Color Green. And because Technic color has hadn't tuned in, it was really showed up as. That's what that reminds me of. And yeah, I'm a Star Trek nerd,
so yeah.
Is Feng Shui a thing?
Go figure. I don't know when I shut myself off. Maybe I did it. All right. What's going on with CALHFA 2,564 contracts in two weeks? Less than two weeks? Three, 300 million sucked into the air. Four new home buyers. Good for them. I'm Vito Scarnecchia with Abitano, we'll see out there.
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