🔴[LIVE] Inventory is up?!?!?! But how much?
🔴[LIVE] Thursday US REAL ESTATE INVENTORY WATCH.
What you get for $1MM Santa Clara County
Your home is worth... https://bit.ly/AbitanoHomeValuation new market video https://youtu.be/iEnlrURFx3s
REO's 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.
Good morning. The weekend is here, and that's what we're talking about today. We're actually Thursday, we're counting down. We have one more day, and there's a lot of stuff going on this weekend. In San Jose, in Santa Clara ins Silicon Valley, we have so much stuff going on and it's not just here, it's all over.
If you want to go to the beach, there's stuff to do at the beach. If you want to go up to the cities, you can go to the cities and that's all about Silicon Valley living. Today's March eight, or sorry, May 18th the, month is already halfway through. It's been a whirlwind tour. I've been working. Just going crazy and I thought I'd share some numbers with you.
And the highlight of this is inventory. So let's talk about, let's talk about what's going on in the, events this weekend. Let me put this out here so it's easier for you to see this weekend's offense, tons of stuff to do. They're on pH a. Fain, there's SJ made, so it's a bunch of vendors doing some fun crafts, all sorts of cool things.
Make sure you go and support that. That's Saturday. This Saturday at 11:00 AM and I have the link down there. If you don't know it, it's just go to this weekend and Facebook for events. You'll see it. Downtown Town Campbell is the Boogie Festival. This is. It. It's always fun. It's always a fun thing to do. I know if you have a chance to go spend an hour or a couple hours there, you're just going to have so much fun.
You'll meet new friends, see new vendors, go support this local businesses there. And it's Campbell. Everybody loves Campbell. I. So go check a look. There's an art and wine festival downtown. Pleasant Hill, St. John. I don't even know what that is. There's an open house at the Japanese art and Cultural Center and there was something else I saw.
Downtown Gilroy WA Wine and Art Walk. Guys go support Gilroy, right? Santana Road, there's an Artisan Fair. This is great. There's so much fun stuff going. The weather's going to be amazing. The weather has been amazing. We, I almost turned my air conditioning off, but I, haven't yet.
I really wanted to. I really, wanted to, but I didn't because I just didn't want to. This listing right here, sold for more than 2 million. It's really close to Apple. Guys, I know I've been talking about this, but this has been so fun working on this pro, on this house, catching up with my friends from high school reminiscing, hanging out, talking.
We had 131 groups of people come through on the weekend, on the Saturday, just a Saturday on Sunday. The other agent didn't really keep track. She said it was about 60 people. I think it was probably more, and let me tell you, we had, is this it? No, I have another one coming up. We had 19 offers. We had 246 total showings, including the open houses.
So you do the math. Which was actually, it was 55 total showing, I think it was actually turned out to be about 59 showings. I stopped adding after a while because we were already in contract. We had 68 disclosure downloads and we had. 19 offers. Now, when you look at it, the reason why I'm telling you these numbers, because the numbers started dwindling down and the whole concept of selling houses is to make sure that you get as many eyeballs on the MLS as possible so that you garner interest, you get a ton of interest, right?
And yes, you have the ancillary sites and we measure all that. I wanna say we had over 4,500 people show up, see the house on the mls. 44 82 last time I checked, so I know it's still counting. And you want to build a buzz and you want to build fomo and you want to build this bidding frenzy. And that's something that we've excelled at. We, this house sold for well over 35% Upli price. And we didn't go super, super low. There was another house that was 50 feet square, square, feet lower, and that was listed at 1.6.
We actually came up almost 300, yeah, almost 300 grand off of that one. 8, 8, 8, 8, 8, 8. And the way you market it, the way you push it, the way you get people interested in it, this one was in probably a little bit better condition. So we'll find out later on. So I'm happy that it's sold. I'm so ecstatic. I'm happy for the family.
I'm happy for the buyers that are moving in. I'm really excited for everything. I do beautiful day. I keep pushing on this. I'm going to keep pushing on it until October 7th and eighth. They just asked me to be a lead. I don't know if I'm taking that or yet, or not. I'm supposed to tell them tomorrow.
I'm leaning towards it. But we're looking at doing LaMer. There's 19 different projects that I know of. I know too specifically, I can tell you a little bit more. LaMer is going to be fun. It's in Campbell. I did I grew I, went to school there for one year. I went to something called Coventry and then they closed that down when I lived in Campbell.
This is all memory lane. And then we went to LaMer and then I went to Castro Middle School, which is not a Castro middle school anymore. That's changed. But I just fond memories coming back and talking to the principal and all this stuff. So it was really fun. And then the project they're asking me to lead is Emma PRUs Farm, and there's nine big projects there and I'd love to handle that.
So nostalgia versus leadership. I'm still wandering, but we're go looking for volunteers. Something we'd love to have you enjoy being outside, meeting new people, doing good. And that's what community's all about. If you're stuck in the doldrums, come on out and we'll make friends with you. Okay, I just, uploaded this.
I don't ready yet. Pros and cons in Willow Glen. Everybody loves Willow Glen. It's a great place to live. Great place to go visit amazing stores. They have there I am. They have everything. So if you wanna watch it, go ahead and watch it. And then let's see what you get. For a million dollars, I'm shutting this down.
What you get for $1MM Santa Clara County
What do you get for a million dollars here in San Jose? Now this one's close to us. It's a duplex. I don't know why that one popped up as a duplex. Maybe it's just one side, but there's still houses you can buy for under a million dollars in San Jose. And yeah, that's San Jose, still and Morgan Hill and.
Some in Gilroy too, but let's take a look at some of these. That make sense, right? That's the one I was just looking at. Let's look at this one. It's on Guadalupe, so it's right next to the freeway. Looks like a single car garage. Small single family. 823 square feet, two bedroom, one bath. Built in 1941 on market for 20 days.
And Let's get pull. There you go. All right. Originally it was listed at 13. It's been on market 20 days. They dropped it down to 1,000,050, still sitting around. Mostly because probably proximity and the fact that it's on Busy Street, it's going to take a little bit more effort. Sussex place in Gilroy.
I have a house just looking just like that. This is going to come up and in Blossom Valley. So if you're interested in it, this is about the same square footage? No, this, that one's old. The one I'm looking at is older. I think it's built in the seventies. This one's built in 1981. This is a standard layout.
Very maybe I even went to this one. I actually went to this one.
And just so you know, I sold the same house in Santa Teresa a couple years ago, and I got the highest sales price in all of Santa Teresa history, and it was 1.9 million. So it was a couple years back and I. This is a great layout. It's a little boxy inside, but it's five bedrooms, three full baths. There's a full bathroom downstairs.
Has a great kitchen. The layout has a great option for a kitchen. This is what I'm saying, it's a little boxy, right? Because the stairway is right in the middle, and then there's a kitchen and family room over there. There's the entry to the ma the bedroom downstairs. So you can, if you have elder parents, you can have them come in.
I have that. Did I get rid of it? I think I just got rid of that. So yeah, that's a great house guys. It's a great, house. The house I sold was in a cul-de-sac, had a quarter acre hunk of land there ha There was a pool and a big hu place with grass. And a even further down in the corner of one of the, yard, part of the yard.
It had a fire pit. And we had a ton of movement on that. I think it was sold for 1 1 9 or 1 95 or one nine. Okay. I'll let you know next week. Okay? So let's
results.
Okay. This is in Los Gatos Hills. Look at that. Nobody wants that one. What in the world did I do here? 30 results. Oh, I know it's second page. So let's take a look at another O'Brien on market. One day, 998,000 1,142 square feet, right by Bellerman eight 80, and I think that's the Alameda. Yeah, that's the Alameda.
And this is a nice neighborhood. It's actually quite far away from the freeway. You, do hear it, but it's okay. The problem is it's smaller. Two bedroom, one bath. This is 84 years old. It's a nice house though. Let's see what else we have here. Okay, I, oh yeah. This is the one we were just looking at. Two bedroom, one bath.
This looks like it's what? I don't wanna look at that one. Let's see, what else?
Thorn Haven. Oh, that's dark guys. Use professional photography, guys. That's just, that doesn't look good at all. There you go. That was done by a program. They ha they hired somebody to do that and they just superimposed all that. They put the clouds over on this. You can tell,
but this is a great floor plan. Let's take a look and see. 1354 bedroom two bath built in 1976. Yeah, some great looking house. This one's going to sell really fast and it is north of Edenvale. So there you go. All right. Enough of that, you still get houses for under a million dollars. We just sold a house closed.
It wasn't me, it was somebody else. But there was another house that closed downtown San Jose for $460,000, and it was in a flag lot. You had very little land. It was right next to the freeway. It was really small, but you could still get that. All right, so look at. The numbers here, you don't have to look at the individual numbers, but black means inventory increases LA since last week and red means inventory decreased.
There's only one city that I'm tracking right now with a lower inventory than last week. And actually this is from a week before. So you know, plus or minus, because last week I missed this. It's not high enough though. It's not high enough and I keep mentioning that it's a, it's dangerously low. Remember, these are the numbers that you get from the aggregator sites like Zillow, Redfin, or whatever.
They're not exactly accurate. You want to go to the actual MLS and be as accurate as possible. because look, there's almost a hundred houses that aren't, that are not in that search. For whatever reason, and that's real time. You can even take a look at this 1, 2 88, let's refresh it, see if anything else came back on.
So it hasn't really refreshed yet, and how does this pop up and down all the time. So that's why we're holding that close to the ch chest. Last week we had 67, so I'm going to update that real quick.
But everything seems to be increasing in inventory. That's good things. That's not to say that houses aren't selling, houses aren't expiring, houses aren't. Getting into a contract, just means that there's more inventory and we do need inventory. And I've said this over and over again.
I think I even mentioned it here. Inventory Santa Clara County, we're the lowest We've been in a very, long time. Now I have to update this chart, but we're still super low historically speaking. That means it's a great time to buy. It's a great time to sell. It's not so great a time to buy. See 40 days on the market.
This thing right here, that's the sales price. So anyhow, hope that was helpful. Have a fantastic weekend. If I see you at one of these things, come by, and say Hi, I'm Vito Skk with Aba. We'll see you out there.
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