Wall Street is predicting a 2023 recession | What you get for $1MM Santa Clara County

 

Wall Street is predicting a 2023 recession | What you get for $1MM Santa Clara County

🔴[LIVE] Thursday US REAL ESTATE INVENTORY WATCH. 4/13/2023 CarMAX Report Wall Street is predicting a 2023 recession Clutter-Free Tips That Can Make Your Home Look More Appealing What you get for $1MM Santa Clara County

More detail: http://blog.abitano.com/2023/04/wall-street-is-predicting-2023.html

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Vito Scarnecchia Realtor®, Broker, Veteran, Dad DRE#: 01407676 Website: abitano.com update your home value: https://hmbt.co/bT7qRJ RELOCATION@ABITANO.COM FREE DESKTOP APPRAISAL https://www.propertyrate.com/agent/vitoscarnecchia If you are moving ANYWHERE in the world - Let me know! I know a LOT of AMAZING Agents! 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

CarMAX Report
Wall Street is predicting a 2023 recession
Clutter-Free Tips That Can Make Your Home Look More Appealing
What you get for $1MM Santa Clara County

 Good morning. It is Thursday, April th 13th. Hang on a sec. Everything that can go wrong will go wrong, I promise. That's just the way life is these days. Let's get to our inventory watch. Today we're talking about three things you need to know about real estate in real estate. an 11 trillion loss in value in commercial real estate. What you get for a million dollars. We're going to go into a little bit more about let's see, wall Street predicting a two-year recession at CarMax being a problem. One of the tipping points. Another one of the tipping points, right? Cuz we're talking about the $11 trillion. Here you go. I added, and I re-shifted this. This is why I'm all discombobulated. I'm adding this as a tipping point. Commercial real estate, 11 trillion loss, and value retail chains, closing up shop because of unchecked theft. I saw it on Easter. Let me get this little, here you go. I saw it on Easter. I went to the Safeway right down the street. And I said this yesterday, I went to the Safeway Yes. On, on, on Easter to get some donuts for the camera crew, for the church to thank him for serving. There's this gal, I wanna say, she's late teens, early twenties, and she's just walking around and I didn't make pay much attention to her. Get my donuts. I go in and pay for it. The self-checkout, was cuz there was one person there. They didn't look like they wanted to be talked to and paid for my stuff. And I got out As I was getting into my truck with my, thing, she had a handful of. Snacks and groceries or whatever ran into a car and they bolted. They took off like it was ridiculous. And a good friend of mine sees him at the gym all the time. His son got him, his son, and his two, his son's, two friends, had bikes stolen. Out of the Safeway, I think it was Safeway, it's like it's rampant now. And they found out who, where this, one kid was, where two of the bikes were. Unfortunately, my friend's son lost his bike. It's not that he hasn't recovered. But that's the point this is unchecked and it's affecting everybody. It doesn't just affect. Do you or the stores think they have all the money? No, it's not because what they're, what's going to happen is they're going to close up shop and they're going to, they're, then you won't have access to it. So you better start caring, start telling your politicians, your governor, a government that we need to change this stuff.

11 trillion in lost. Okay. Lost value. That's just, I think the coast, Washington, down to Sacramento CarMax report.

CarMAX Report

They're losing their butt. Their, attitudes are they don't negotiate, they don't haggle and they have high-cost cars. They're whatever it is, if it's a Corolla, you're going to pay a premium to buy a car through CarMax. Now you get a lot of services. I get that. You get a lot of all the other stuff, but their profits are down. The gross profit is down 14% versus last year. Last year was an anomaly, right? But this is where things like CarMax, where they have huge inventory if they're not balancing their budgets right if they're not selling a lot, they could lose their shirt, they could lose their business because, and that could be the tipping point. Another tipping point. The automotive industry, where did I say it right here? This was down 15, 18%. This was last year when I wrote this. Could that happen, could that be an issue to, affect us in the residential real estate market? Absolutely. All of these things. All of these things on the tipping points could be a problem. Credit cards, housing, right? That whole thing that went down last week with Cal H f A, they went 20 over 2,600 home buyers got into a contract with Cal H G F A. Great for them. But my problem with that is that when you get something for free, you tend not to take care of it. We're all guilty of it. I am guilty of that. Okay. Enough said about that.

What you get for $1MM Santa Clara County

Oh yeah. What do you get for a million dollars in San Jose, Santa Clara County? What do you get for a million dollars when you get this beauty ray here? Now this is right off of St. Carlos Stevens Creek in the Bascom area, what we call bur. And that's always been smaller "cottagey" older homes they went through back in the early two thousand and went through a revamping and a lot of people updated their homes and it was a glitchy place to go and live. It was like a cool place to go to live. The cool thing about Burbank is. If you don't know where that is specifically, it's really close. Where is it? Yeah, it's close to the mall. It's close to, why is that? Not that. Oh, it's right here. And then it's also close to Santana Row. So you can walk there, have some fun, and then if you really wanted to, you can walk downtown. It's not that far. It's, and the cool thing is it's going to also be close to Apple Place. I think this is, where's Apple going to be? The Google-Plex. I think this is all going to be Google Plex right here, in this area. So if you're buying into it, that's what you're buying. You're buying into the future. Now two bedrooms, one bath, 855 square feet, 6,300 square foot lot. It's a little tiny thing built in 1950 for $995,000. Let's take a look real quick and see what it looks like. Let's see what goes. Yeah, it's nothing big. It's a nice-looking house. A little cottage. Doesn't look like it has a garage. Maybe a garage in the back or maybe they converted the garage. Wait, What's that? They have a table blocking the front door. Awesome. It's a wall heater. You used carpet. So this was a rental. You can tell this was a rental, right? This is where the refrigerator is. Maybe this is where the refrigerator goes, or maybe that's where the, look at that tiny thing. This is definitely a rental. Yep. So if you're a first-time buyer and you've been struggling with buying a house, maybe buy something like this where you can either, Have a nicer backyard. Obviously, this one needs a bit of, little bit of love and attention. There's that. That right there is the A D U. That's a, Ooh, that's a shack. I have a friend who would love that,

Clutter-Free Tips That Can Make Your Home Look More Appealing

but there you go. That's what you get for a million dollars in Santa Clara County today Day. All right. Been on market for 48 days. I bet that they'll work with you. Okay. Let's see. Clutter-free. Do we wanna go into this clutter, free tips. Now, do this video once a year about three things, the things you need to do to get your house ready to sell, but also if you wanna make yourself look a little bit freer. This is really not a great article. The whole idea is if your house is getting ready to sell make sure you declutter and you're like I wanna live my life. I want to enjoy my life. You're moving, right? Get in the mindset that you're moving. Pack up everything. Put 'em in boxes, put 'em in the garage, put the boxes in the garage. Get rid of all the furniture. You see this? Background here. I would absolutely never sell my house like this. I would go down to three things on any surface, whether it's a wall or a shelf bookcase. A dresser, anything, three things max. And then I would make sure that there's less furniture in every room. Not if you look at my living room where we hang out, we have a big C way too big of a couch. But it's comfy. It's like a cozy, comfy bed couch. And then we have a smaller loveseat, and then we have a rec recliner and an ottoman. It's just too much. I would get rid of one of those things and drop it so clutter-free. Yeah. This is clutter-free living. Nobody lives like, Nobody lives like that. Who stacks, and bottles like that? You throw 'em in the refrigerator. That's that. Okay, so inventory watch inventory is an issue all the way around the world right now or around us. The only places I'm seeing. That is growing in Cape Coral, Austin, and Chicago only went up by once. That's not really even fair. New York not that much. Maybe 60 there.

Wall Street is predicting a 2023 recession

Inventory is creeping down and we've been talking about this for the last few weeks. That is an issue. It's going to continue a continuing issue for us for a very long time. Lemme get to it. I have a few houses coming up for sale. I just got a call yesterday for another one. We are seeing it, but not at the same rate that we had. We're going to see a lot more agents exiting the market. Pricing will come down, but it's also going to make it more difficult for you to get a loan. So you need to make sure you have good credit, a good down payment, and all that other stuff. Yes, there's U S D A VA and f H low down payment program. There are city-based down payment assistance programs, but they won't be as competitive because there are. Inventory sellers are going to be more pop picky about who they sell to because they want smooth transactions, period. And yes, if the market collapses, if the economy collapses, it'll be a different story. But for right now, that's what we're seeing. Houses are selling, inventory is shortening, low rates are getting lower, and competition's heating up a bit. That's it for now. Vito with Abitano we'll see you out there