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🔴[LIVE] Three things to know - US Inventory Watch
🔴[LIVE] Thursday US REAL ESTATE INVENTORY WATCH.
This weekend's Events
$1,000,000 Mansion in CA https://www.onereal.com/vito-scarnecchia-1/listings/crmls/CV23099139/Diamond%20Bar%2C%20CA%2C%20US
Beautiful Day Oct 7 and 8 https://beautifulday.org/
Foreclosures up slightly in 2023
What you get for $1MM Santa Clara County https://search.mlslistings.com/Matrix/Public/Portal.aspx?ID=0-998483112-00&agt=1&L=1
Your home is worth... https://bit.ly/AbitanoHomeValuation
Good morning. It's early. I know this is early, but that's okay. And I'm actually late. I had to reset the computer. Crazy days. Hey, so happy Thursday. The weekend's here. Want to get you in touch with the three things you need to know. Especially living in Silicon Valley this weekend's events.
I have a REWTF I have to share with you and follow up to the hundred that million dollar mansion real quick So stand by let me get there we go Here we are back here. today is July 20th. Holy freak this weekend's going by really quick just so you know, I'm probably gonna be down in Carmel again this weekend just hanging out at the beach With my dogs, and maybe my kids.
I don't know whatever but I need some I'm enjoying being down at the beach. It's just Solving my soul right now. So anyway, if it's something you want to do come on by hang out bring your dogs And just hang out I'll be there with my chair just Watching the dogs play. Also, I want to bring out some other things, some night stuff, and I'm not gonna make it, I'll tell you that because I fall asleep pretty early.
There's this 7:30 PM game show at three below. I would love for somebody to jump on and tell me about that. That sounds like a fun time.
What else? Oh, inside Arena Football. Look at that. They're playing today. Who would have known? There I don't want to get into that one. I could get in trouble saying what I thought I was going to say. But look, Neverland Rocks, Charlie's in Alaska. Charlie's, Mountain Charlie's. Dude, that's going to be so much fun.
Three and a half hours of fun, good music. Great people over there at Mountain Charlie's. And then, Ragtime the Musical, Summer Light Opera. Oh, if you're a Sharks fan... There's going to have a merchandise sale down at the arena guys down there and get some stuff, right? I got to get this moving quick.
Cause I have to jump on another call. A really quick, beautiful day. Again, it's coming up. We have a lot of stuff going on. We're. Justing, we don't need a ton of skilled labor. If you're interested in going and being a part of a community and helping out and making things better, there are so many different projects.
You don't have to go to mine. Mine was, is Latimer Elementary, which is, I went to that school when I was in fifth grade and I get to go and improve it. So it's a fun thing for me. Mansion, I think it's right here. Originally it was listed at 1 million. Guess what? I guess they changed their mind.
So now it's worth 6 million in a diamond bar, which isn't anywhere near anything. If you've ever been there, do I have a map here? I don't have a map. This is like in the middle of between here and. In LA, right? It's in the middle of nowhere.
Oh, no, actually it's in Orange County. So I can see how that's a little more alluring, but six, 6 million. There you go. Okay. R E W T F. Thanks, Brian. Lou, my buddy. I haven't talked to you in, what seems like 20 years, but guys don't do that to you, or to your toilet, please. Just don't. Yeah. Don't. Okay.
Wells Fargo sees a recession arriving later amid strong economic growth. I don't know how to say this. It's not strong economic growth. It's just a veil and curtain of bullshit that people are pushing through. Now I'm not going to jump into this
guy. No way, shape, or form. Is this a healthy market? We have people being laid off. Commodity sales are going bad. Retail stores are closing. We all know why. It's just a matter of time for this recession to happen and I think it's going to be a bad one.
What'd you get for a million dollars? I haven't even taken a look at this yet. Look, there's one right here. Let's take a look at this.
Starcrest Drive. Basic Ranch House.
Do you know what's funny about this? Oh my goodness.
There's no way. Look at that. It's a standard ranch, three bedroom, two bath, four bedroom, two bath. There's just nothing exciting about it. The reason why they made it called it a ranch is because it's single level and they made it look a little ranchy. This is just a standard house, right? And they built these since the forties.
1, 000,000. This is what you get for 1, 000, 000 in San Jose. You're getting a little bit of location here, but everything in this house is, look, the windows are original. I can almost bet you a dollar that and this is going to go for a whole lot more too, guys. I'll tell you that straight up. Here's the thing.
This is either a probate sale or it's a. Trust sale and I do that. I do a lot of these. As a matter of fact, I closed one yesterday. I bet you a dollar that there's no air conditioning. Do they even tell you about cooling? Oh, it does have. Oh wow. Okay. So yeah, that's, this is worth a lot more now.
It's a nice little area. The thing is this is 85 and 87. So you're going to get a lot of traffic noise. This is right where Oak Ridge Mall is. This is Oak Ridge Mall. This is Home Depot, where Home Depot burned down. Let's see if I can get the satellite real quick. Satellite. Yeah, that's Home Depot. Alright, two more minutes.
Let me just jump over here real quick. Inventory is getting better. Look at this. It's all black right now, except for two places, San Jose and Jacksonville. San Jose is always going to have a problem with inventory just because of Silicon Valley, right? But everywhere else is going up and here's the thing.
It's not because it's the market's crashing. It's because it's just the tidal wave. It's not a tidal wave the tide is coming back in from. the 4th of July weekend. People did not put houses on the market or fewer people put houses on the market during the 4th of July weekend and the weekend after because they might be on vacation or they might be taking time off.
I actually took some time off and I just relaxed around the house and took the dogs for longer walks. I went to the beach and because It was slowing down and it's just a normal time for our market to slow down, you're going to see the trot, the inventory come up, but you'll also see it's maintained.
You're not going to see a hockey puck, hockey stick, go a chart of numbers go up. Cause every number that you look here every, time that we look at with inventory, it's going up less than a hundred left, less than 50. Most cases. So that just means that we're equalizing from the holiday weekends. All right, that's it for now.
Have a great weekend. If I saw Carmel, that would be awesome. Just come up, give me a high five, hang out, go grab lunch, or whatever. I'm Vito with Abitano. Have a great weekend. We'll see you out there.