🔴[LIVE] Thursday US REAL ESTATE INVENTORY WATCH.

 

 

This weekends Events

Beautiful Day Oct 7 and 8

5 Cities Near San Jose | Moving to San Jose

What you get for $1MM Santa Clara County

 🔴[LIVE] Thursday US REAL ESTATE INVENTORY WATCH. \nYour home is worth... https://bit.ly/AbitanoHomeValuation\nnew market video https://youtu.be/iEnlrURFx3s\nREO's are leveling off.\n\nSan Jose Real Estate Sales are moderate\n\nAll these questions and more are unpacked in this edition of Silicon Valley Living!\nWe’re talking about affordability right now. \nFHA and VA are big options right now. \n\nMap tour of Willow Glen\nhttps://www.youtube.com/watch?v=LQgOUjf2QCc\n\nCalifornia Housing Market Trends | Real Estate Inventory is spiraling across the US\nGet 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.\n\n\n"}" style="color: #222222; font-family: "Google Sans", Arial; font-size: 11pt;">

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Podcast

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.

 Good morning, Vitos Scarnecchia with Abitano. We're talking about US inventory watch, but we also have three things you need to know before we go into all that. We want to talk about what's going on this weekend because it's Thursday and I want you to know about some things that are coming up. And yeah, let's go into it real quick.

We're also talking about beautiful day five cities near Near San Jose if you're moving to San Jose so you can get a little bit more things. I'm promoting that and then Realty Times that article I didn't get to yesterday. So let's grab this real quick. There you go. And pop over to the events.

Now, the first thing that caught my mind was this guy right here, Mor, the Mush Morgan Hill, mushroom music benefit. It's not the Mardi Gras. I'm not really knowing what's going on with that photo or anything if you know me and are upset, mine's already in the gutter. It's seven o'clock in the morning.

Some other thing I want to pull out is the P Mae 2023 at the San Jose Convention Center. If you dig Disney, you can see all the princesses get dressed up. All the people that never got to go to Disneyland and dress up like princesses and spend an hour and a half, two hours waiting in line to go and see their princesses.

They all get to do it and relive it and reenact it here. Awesome. That's great. I might even go down for some good B-roll. Action. Not making fun. Having fun. I think it's awesome. You do. There you go. Here's Something cool. Jurassic Park this weekend. Dinosaur experience. You got little kids.

This is the place to go. Guys. Guys, kids. Your kids will enjoy the heck out of this. Go do it.

Phan mania, I guess that kind of rolls into this whole P mania thing with the princesses. There's a P Mania eight, and then Phan Ma Khan. Guys, this has got I think we should just go down, down San Jose and hang out with these people and check 'em out, and that's gotta be so much fun for these people.

Good for them. All right. Enough of that. We talked about this yesterday. I hooked you into coming in and listening to this today. The whole thing is, Live a decluttered life, not like my back. My background over here, I have it set up so that it looks like I should have a white desk, et cetera, or a shelf.

I always tell people when you are selling their house, Make sure there are no more than three objects on any surface wall, desk dresser, or shelf. I have 1, 2, 3, 4, 5, 6, 7, 8, 9. Guilty. I'm guilty. You look at my desk, which I don't want you to see, it's messy. That's okay. I live here. That's not the point.

When you're moving and you want to sell your house, you want to stage it or organize it so it looks decluttered and it looks.

Organized, like somebody can move in and it looks stage right now. Did you know that there are two different people? There are two actually different pro professions. Some people do both. But Moster will focus just on one thing. Now there's a stage and there's an organizer, and the organizer actually helps you pack, gets rid of all the bulky stuff, gets rid of stuff, gets your clothes that you're not wearing if you're selling your house in the summer, gets rid of all your winter clothes, that kind of stuff.

But that's because they help organize the sale. Now I have access to both people and they work together. Sometimes when it's a big project or an amazing person, they will help you declutter, but it really doesn't take that much effort. And guys, if you're selling your house, you need to pack anyway. So start packing, throw some stuff in boxes, and declutter your rooms.

No more than three big, bulky items in a room, like a couch, or a chair. And a table. If you looked at my family room, I have end tables. I have a mess everywhere. I have dog toys, you name it. That's because I live here. Right when I go to sell my house, I will declutter, get rid of half the furniture and make it look big and airy, and make sure all the light comes in.

I personally like a cave. That's just how I am. I like my house, my room's dark. You can't tell right now because I have fake light coming in on me right now. But that's because I'm shooting a video. When I'm not shooting a video, I have the lights off and it's nice and cozy for me. That's just me, right?

If you're showing a house, you want all the lights on, you want everything cluttered, you want the dogs out of the house, that kind of thing. It's, a simple thing to do, but it takes some time. And I have a video on that. Don't have it linked in here. I didn't spend the time to go find it, but it's if you're interested I'll send it to you.

As you may not, may know I am part of this community beautiful day. It's, they go out and help re. Remake or fix up different parts of Santa Clara County and it's a great thing. And it's October, I wanna say sixth and seventh, two days. We're only asking you for four hours of your time. It's come out, enjoy the community, enjoy meeting new people.

Enjoy helping make Santa Clara County better. Cost you nothing but some time. You don't have to be skilled. I hate painting. I've been put on a sub-lead at LA at LaMer Elementary. I'm be doing some repairs and some painting and some planter boxes. But I don't care about painting.

I just never, I. It's a mental block, yeah. But come out and do it. Do it. Do it for good. Do it for yourself. Do it to make yourself feel better. And you know what? When you give four hours of your time, that's it. Four hours. You can spend four hours doing TikTok. Come on out. Enough of that. Five cities near San Jose.

Dang. Damn it, I have it right here. That was my channel.

Simply because

back to this

five cities near San Jose, now we know that there are 10, or 11 different cities in Santa Clara County. I just highlighted five. Five of my favorite ones. Santa Clara Sunnyvale, Cupertino, Los Gatos. Boy, that is, oh, look at that. This video really just goes through and yeah, Morgan Hill, we talk about the different things and that's Las Gatos, right?

So take a quick gander at it, the links down below. I didn't do what you get for a million dollars today. Let's see if I can kick that out already. No, I'm not doing that. I know I'm mumbling, Joe. Thanks. Realty times. That's it. Okay, let's go into inventory guys. Inventory is super bi. Here's you. You hear all these like crash bros talking.

Oh, the market's crash. The market's crashing. Everything's, this is a time to buy real estate. It's yeah, the market might crash, right? So did Chick Chicken Little say the sky was falling. And in that story, the sky did fall.

Look, we're hurting for inventory. If you look at this graph, this is Santa Clara County, single-family homes only, and this is for up to May this year, all this year, and back 12, 10 years, we are so low on inventory right now. That demand, even though it's lower than it has been in a few years, it's.

Desperately low. So people are competing over very few houses. I'll put it to you that way. If you look at what realtors say, it's less than 300. The actual m l s is 360 4 doesn't really matter. That's the real number. I just use that to prove that those aggregator sites aren't exactly accurate all the time, but I just wanna make sure you know that.

I use it as a baseline just so you can see the ups and downs. But if you look again, the reds mean that we're in decline from the week before. From the week before, right? That's all that means, but. The next thing you wanna look at are these numbers right here, the active homes per square mile and the active homes per thousand people by the population.

So for example, now that's actually a bit, no, for every, 3000 people in San Jose, there's one home per sale. That's not saying every 3000 people are looking for a home, but it's just saying by the population. Just to give you a baseline, here's two and a half. Per thousand. So it's really 3.75 per 3000.

There are 23 houses for sale for every thousand Cape Coral is an anomaly. There, that's a snowboard snowbird nation, right? That people come from Chicago and, wherever the north, the great white north, they fly south for the winter and that's where they go. So it's empty most of the time, but a lot of people are just dumped because of Hurricane Inn.

Austin, there are three houses per sale. Per sale, per thousand people, so that's equivalent to nine. San Jose is hurting guys. Atlanta is three. LA is hurting again. There are a lot more people in la, but there are a lot more houses for sale too. Chicago 17 for every. For every 3000 people. There are one and a half homes, right?

New York, same thing. I think there's, a mass exodus going on there though. Las Vegas. Pop the val The, we've been trending down for the last few weeks and the one thing I want you to look at here is not just the numbers we're heading towards the end of our selling season. Get out here. Let me go over here.

There were

AV Geek Producer TV Show host. The reason why I want you to be aware of these numbers is that as we get out of the selling season, March, April, and may, we're going to see inventory go down even less. We're seeing sales go down a little bit less, especially over the summer. People don't think about buying houses during the summer.

Just doesn't, unless you're getting outta here. If you're going to Austin or Vegas or wherever you're moving out of California, or if it were moving to Sacramento or Bakersfield, you're thinking about moving out. You're not looking at selling your house right now. You're looking at, you're exploring different places in the summer.

Last year we went to Cape Coral, Fort Myers. Checked that area out a month before Hurricane Ian happened. Cause we don't know. We don't know where we're moving. We're just exploring different areas, right? We have no commitments anywhere. I like North Carolina. I wanna be on the water. I might wind up on an island somewhere.

Who knows? Who knows? But we're exploring so people don't think about selling houses. In the summer. So inventory goes down, and demand goes down. Sales volume will buffer. I think you will still see houses sell because there are still people that are committed to moving. But if you look at that chart I showed you, we're down about 60% in inventory, and that's not healthy.

What we want is for prices to be affordable for buyers. Yes, we want to make this much money for a seller, so we're in a conundrum, but what would be healthy for the market is to have a good 2008, 2009. I know people would lose their houses. I know all that stuff, but it brings the prices down.

We need to have that happen again, mostly because. When that happens right there, we talked about this yesterday. When recessions happen, it actually makes the market stronger. It's like thrashing all the dead grass out of your lawn. You want it to do that so that it gets more air, gets more water, and more nutrients can go to the roots.

Sorry, roots, and. It will become a stronger, more vibrant lawn. It's the same thing. We need to call out all the deadwood, all the non-performing loans, and all the people, and make it more affordable so more buyers can enter the market. And I know it's a sad thing, but it's also part of life. You have winners, you have losers in the stock market.

It's the same thing in the housing market. It's just the way it is. And recessions actually strengthen. The values over time. Okay, enough of that. It's been 15 minutes.

I'm beato with Alba. I hope you have a fantastic weekend. We'll see you out there. Maybe I'll see you at that Disney thing.