Santa Clara County Hi's and Low's πŸ”΄[LIVE] Tuesday Highs & Lows


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 Three things you need to know in Santa Clara County and. Highs and lows of Santa Clara County. So let's get into it real quick. I have not been around the last couple of days, and I'm pretty sure you haven't noticed.

That's okay. Just got really busy with some real estate. I had a reunion this year. This last weekend. I got to catch up with a bunch of people, some amazing people that I hadn't seen. Feels like a hundred years. But yeah, it was just an amazing thing to go there and see people. And I caught up with my best friend, Chandra Permaul.

I saw Alex Chameleon. I met people that I hadn't seen in 30-something years, and it was just a really fun time. Yeah, it was; that was fun. I suggest it's always a good thing to go and see people that you haven't seen in a long time and catch up, rekindle old relationships, and have fun. This last week we sold 187 homes, single-family homes, and single-family residences.

It's not including condos or townhouses and over. Of those 118. So a very good po percentage. Again, that's about 65, 70%. Right now, we have 827 single-family homes available for sale. That's dangerously low. We're supposed to be around 1600, 15, 16, or 1700 depending on the day, depending on the season, et cetera.

Mostly because rates are high. We're still seeing. I don't think that really matters, guys. I don't think it does, it hurts affordability, but people here tend to have more money than the average American. The problem is the supply is low, and that's why rates are still coming in higher.

On average, rates sell prices are coming in higher than average, and that's, I think, that's going to continue on until World War III breaks out or the global economy crashes or what have you. But I don't see that happening anytime soon. You look at the doomsday chicken littles, and they're saying that it's imminent.

I don't see it. I don't see it for a long time. So today, we're talking about the highs and lows. The first two we'll talk a look at are the highest price and the lowest price in Silicon Valley. This one is Lowell Ave in Santa Clara County or Palo Alto. Not a whole lot of houses to look at, but look at the, I think they bought this based on just the value of the property cause it looks fairly old.

Not a lot to it. And the old outage is location; Palo Alto is where everybody wants to be if you're in VC, finance, tech, et cetera. Fi being in Palo Alto is important right now. Let's take a look at where it is. It's really downtown. Hello? Hello. It's really downtown. The closest you can be to Palo Alto, right?

This is where everything is. My buddy lives over here, so yeah. Listed at 69 95, it sold for 7 million. That's one. 101%. 100.1%. The next one is 12th Street in San Jose. This is the lowest sales price in San Jose. Two bedrooms, one bath, 875 square feet, right on the freeway. Let's take a look at this. Spartan Keys.

Look at that. Two streets away, or two hours or an empty block and an on-ramp next to the freeway. So you're basically right next to the freeway on this. That's San Jose State? Yep. That's San Jose State. This is the southern part of San Jose. Yeah, so goodbye, $710,000. It's amazing what you can get in Santa Clara County.

All right. The next one is the highest percentage. Ratio 127.6% in Sunnyville Poplar Ave. This home's listed at 1.98. It's 2 million and sold for 2.55. Three bedroom, two bath, 1600 square feet, 46 years old, seven days on the market. This one looks like it got flipped. Yeah. And we're doing that to a house right now.

We're not flipping it. We're just upgrading it. This one was; this one probably got flipped.

Yeah. I don't know. Maybe. It looks like it has a Nice roof. It's a standard ranch for two and a half million Sunnyvale in the Ponderosa Park area. So Cupertino, Monte Vistas over here. Deanne's is right here. The spaceship is right here. So it's still pretty close to Apple. It's a lot closer to technology up here.

Most of the tech is all up in this area right here. All right. The lowest percentage was 76. Yeah, I gotta go back to the number and check. It wasn't 760; I think it was 76.8% listed at 2.33 on the market, 23 days, and the market was only willing to pay 1.8 million for it. And it is 1 32 5 1 32. Oh. So it's North San Jose.

I see. I have a house that looks similar to that coming up. It's a five-bedroom, three full bath, three car garage. I actually sold that model on Purple Vale Court a couple years ago, and I sold it for 1.9, which at that time was the highest sales price in the Santa Teresa area. Record breaking. That's a beautiful model.

This is an awesome model. Two, two for what it is. You know the house is very blocked off because this is the center part of the house where the kitchen is and it's very standard. You see these all over the place.

Not a whole lot to look at. Took 23 days to sell. The market was saying, Hey, look, you can ask for 2.3. But at the end of the day, the market will deliver what they're willing to pay for it. Buyers will pay what they're willing to pay for it. For example, I had a condo in Morgan Hill; we just went into contract yesterday.

Let me jump in real quick. Go full screen. We had a condo yesterday going into contract. We had two offers over one 600 or 700,000, let's say, at six 50, expecting to get close to 700. They were going back and forth, and then both of them balked. They just, and it happens, right? We were pushing him, and pushing him, and we broke him.

So the third offer in place came in at six 80. That's the way it is, six 80, and we lost $20,000 because buyers are becoming more persnickety right now. The market's slowing down not because of the market, not because of the economy, not because of anything. It's just the season. In the summer, it's not as hot as in the spring.

Our sales cycle is March, April, and May. I have a house coming up for sale over here in North San Jose, and the mindset is 1.6. We may get that right. It's not 2200 square feet; it's a single story. Ranch, four bedrooms, two full baths. We're updating it a little bit. It's not going to be in perfect condition.

Not like that flipped house, but at the same time we're we'll price it accordingly to attract the right amount of buyers. This one was priced a little too high for its condition, even though I wanna say Arcadia. Yeah, I don't know. I'd have to go take a look. It's a nice house.

It's a really pretty house. All the living's upstairs, it's a four bedroom, three bath, and this model tends to sell really well. It's a good-looking house. It looks like they did update it. They put canned lights in. We always recommend getting rid of the fluorescence. Oh, sorry. Let me get back to you.

There you go. See, they took out the floor, the fluorescent box. They edged it out. They took out the popcorn and put new counters on. It looks like they may have. No, that's new. Those are new cabinets. Yeah. And this model is great because you can actually make this into a multi-level or a tri-level. So if it's on a hill, these typically sell pretty well.

This is, see, this needs to be redone. And the machine, the pump, and the machinery should have been in the side yard. Back in the seventies, that's what they did. Nice. Anodized gold. Whew. That's rough. This thing's in pretty rough shape. So the only thing that they have to talk about is a nice new kitchen, a small kitchen, which is a great segue into how to make a small kitchen look more appealing.

I haven't actually read this thing, but it's a great article about bringing the light and making everything bright and airy, right? Try to stay away from dark colors, bright and airy. The brighter the house, the brighter the room, the bigger it looks. It just is like that, right? Declutter the counters, tops, and walls.

The house that I'm working on today tended to be more, or yesterday it's been lived in for 48 years. They're the original owners. They live there, they're moving up to the Sacramento area, and the guy hasn't really started moving. He's mentally not ready to move. So if a seller came or a buyer came in right now and looked at this house, it would be like, okay, when are you moving?

When are you planning on getting out? The first thing on their mind is, if I close, is he going to be out? Is he going to be out of the house? So we're treading lightly because, as he is, he's older. And when I deal with seniors, it's very slow; it's a much slower process because I need them to absorb it and be okay with it.

I don't push people into anything that they're not comfortable with. Brighter and lighter. The great thing about this house or the walls are in, that are inside are white. Now, they are not perfectly white, but they're white, which allows us to bring in a lot more light. The lighting is older, so we're recommending putting in the canned lights.

It's really the puck lights today. But yeah. And then. Yeah, that was a simple thing. Other things that we do we clean the windows. Another thing we do is when we clean the windows, we take the screens off, and that five and 10% of the screen that blocks the sun there, that, that makes all the difference.

It makes it look brighter, and we keep the shades open so that we have natural sunlight. And if we don't have a lot of light in that room, no matter what, we bring in artificial lighting, and we keep that light, that that room looking bright. It's important. And we do stage it. Now you're like, oh, staging doesn't sell a house.

It doesn't sell a house, but it, attracts more buyers, right? When you look at the marketing funnel of the buyer, let me see if I can show you real quick how we do this. The mindset, where is it marketing there? It's okay. Let me bring this over for you. This is my worksheet. I have a complete worksheet when we go to sell your house, and these are all the links that we use to help promote your house when we sell it, right?

This we talk about, we talk about, how to price the house, right? If you price it above the market, it's going to sit on the market. You're missing out on a ton of buyers. You're not going to get the price that you want. You want to be about 5% below to attract the most serious buyers. These people, yeah, you're going to get stragglers of these, and yes, you're going to get lowball offers, but at the end of the day, that's what we want, right?

When we sell. Sorry, let me go over here, make sure I'm on target. When we sell your house, our idea is to get as much marketing out there, not just the MLS, not just the aggregate sites. We also go and market your house. We do it through social channels. We do pay to advertise. We do all sorts of things to make sure that we get more eyes on your home.

That way, we get more listings, and if it's priced right, we're going to get a lot of listings or a lot of showings. We want to get a lot of people coming through your house. The. So we do the drone, we do the 360, we do the photos, we do a video walkthrough. We get it out there so people can really look inside and understand what your house looks like.

We have a 2D floor plan of the house so that you can understand. If you're, let's say, coming in from Idaho or Canada or China or wherever, you can look at the LA layout and say, yes, this makes sense to me. That's why I put on my; I see the floor plans come through. We go through and digest those.

And then when you the next K P I or key performance indicator, we want to see how many downloads we get. And this one, we get, I want to say, 23 downloads, and then we get more offers. And with this one, we had five offers in total. Two we couldn't work with because there were just two low, the top two we worked with, and then we wound up going with the third.

We wanna get. A lot of offers in the heat of the market. We can see 25, 30, and Mar 30 offers, which is tough, but it's part of life. Okay. The second thing is we have a lot of people leaving this market a lot. I hear it was like 63,000. This, one says it's 60,000.

We're expecting a whole lot more people leaving this market, and part of my problem with real estate is that it's a very low barrier to entry, and I've always maintained that it should be a master's level degree to be able to buy and sell, to present, represent people, as an agent, you don't necessarily need to do that, but because it's such a low barrier to entry, it only takes three classes, and you pass the test by 60%, and I think it's 150 questions.

That just gets you the test, right? It takes years to understand the market. It takes years to of, doing transactions and understanding how to work with people because you don't just sell real estate. You're a counselor; you're a contractor or a con maestro, right? Somebody that comes in and conducts all the work.

Make sure that it gets done correctly. You're a marketer, you're a salesperson, you're a negotiator. You have to know rules and regulations and laws and tax laws. Enough to say these are the questions you should ask. Your tax professional or your law. Law pr your family trust person, right? We can't give that advice, but we can give you the questions so that you can ask the right person for those questions for your scenario, right?

So when people come in, they're like, oh, I'm just going to make hundred 200,000, $400,000 doing real estate. And sometimes they do, and that's great, especially when the market's super piping hot. But it takes somebody with tenacity and a long-term vision of being, making this your profession too, to continue to do this over to 20. I've been doing this 20 almost 20 years now.

In December, I'll be 20 years and. People come in, and they're in for a couple years, and then they're like, oh, I need to get a job. I need a regular income. And then they get out, and then they stop selling real estate. This is normal when the market tightens up. This is absolute; this happened in 2008, and it happens every time the market drops off, and now we're seeing the market drop off only because the supply is down.

You might have an agent, but you might want to check in and see how they're doing.

All right. Expert tips for selling with your pets. Guys, my house smells like dogs. It's they have the run of the house, right? And they sleep on the couches, which I don't really care for. And they sleep on my bed, which I wake up and I have to pull hair outta my eyes. It's just part of living with pets, right?

But the other part that they don't talk about is the smell. Your house, you can; some people come in, and they know right away you have pets. I'm allergic to dogs. I'm not allergic to cats. I know right away that a cat or a dog lives there, and I can tell right away; I mostly cats because they have the litter box, and that tends to have a little bit of a smell.

So what happens when you sell a house? We tend to want to have the pets away, especially during showings. But we gotta get your house set up to sell. So we recommend if you have cloth, couches and chairs, or upholstery, have that steam cleaned. It's not going to get rid of every little bit.

But it does affect it. We take every carpet and rug and get those steam cleaned. Gotta keep that up. And, unfortunately, your pet needs to be corded off a little bit, right? You're going to want to put 'em in a place where they can only do a little bit of damage, so to say, in a specific area. And if they're outside, that's great, but they're also going to tear up your lawns.

So how do you manage that? If you're going to stay in your house while you're selling your house, you have to work double duty to make sure that your pets are stored away so that the buyers can come through and look at the house. Clean the house, get it all dusted out, and have it professionally cleaned.

If you see the damage, like cats love to tear up couches, dogs tend to destroy, like my dog has destroyed my leather couch because that's just where she likes to sit. And then put away the toys. I have; my entire living room has toys everywhere, and I just kick 'em to the corner all the time. But if you're selling your house, I would suggest that you put 'em in a closet tucked away, and then you give them one or two toys a day to play with.

And if you have a buyer come through to clean that up. So when you have an open house or showings, your job is to take your pets out for a walk while they're, while the buyers are coming through. What happens if you work and you're at work? Luckily you have a good real estate agent that'll come and take the pet and take them for a walk.

That's one way to do it. It takes a little bit of energy. It takes a lot more time and forethought to get this done, but truthfully, the best way to do it is to buy another house. Move in, move all your stuff out. Let us deep clean the house and bring in staging, and that's the way to do it, right?

Sometimes that works. Sometimes it depends on how much you can afford to do it or not. All right. Last thing, quick pitch. We have a Home Buyer workshop with Scott. Love for you to come and attend this. It's a great little 40-minute walkthrough of the entire process. It's more educational; it's not very salty at all.

Come on and take a look. I'm Vito with Abitano. We'll see you out there.

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