🔴[LIVE] 🚨 Houses built to withstand hurricanes | reimagine the refrigerator | Gas at $4.09
- Inside Whirlpool’s ambitious plan to reimagine the refrigerator
- NAR Finds Typical Home Buyer’s Annual Household Income Climbed to Record High of $107,000 in Wake of Rising Home Prices and Mortgage Rates
- In Florida, these houses are being built to withstand hurricanes and slash electric bills
- Price Reductions Santa Clara County
- Tuesday Highs & Lows
- HOME SEARCH https://www.onereal.com/vito-scarnecchia-1
- TITLE THEFT IS ON THE RISE WHAT IS IT, HOW DO YOU PROTECT YOURSELF AND WIRE FRAUD http://blog.abitano.com/2023/08/title-theft-is-on-rise-what-is-it-how.html
🔴[LIVE] 🚨 Houses built to withstand hurricanes | reimagine the refrigerator | Gas at $4.09
Good morning. Three things you need to know living in Santa Clara County, Silicon Valley, real estate. Houses to be built with, to withstand hurricanes. I know that has nothing to do with Silicon Valley, but I thought it would be interesting to talk about. NAR finds typical homebuyers' annual household income climbed to a record of 107, 000 and Inside Whirlpool's ambitious plan to reimagine the refrigerator.
Why are these important? Because the cost of living is getting expensive. Everything is getting super expensive. And when you buy an appliance, I can tell you that the appliances that we have, I won't mention the fact that mine are GE, they tend to not last. They're ten they're built to break.
They're built to have a lifespan. The next set of appliances that I will buy will be Whirlpool, but Whirlpool owns a few different brands. So I would probably where is it? It's KitchenAid every time I look at KitchenAid appliances because I see a lot of houses, right? They look amazing. They feel super strong like they're going to last a long time.
And there's Whirlpool they're owned by Whirlpool, right? So there's KitchenAid, Whirlpool, Maytag, and Amana. Guys, I feel like KitchenAid is the brand to get. Now let's take a look at this. They're re-imagining this. Refrigerator. And the reason why I bring this up is because we have a pretty deep, we have a pretty deep, hang on a second.
There we go. See wider. We have a pretty deep refrigerator, which I appreciate. I enjoy my appreciation of my refrigerator. It's not perfect, right? The ice machine tends to have first-world problems, right? My, ice machine tends to freeze over so I have to defrost it every once in a while, although it's not supposed to do that.
At least it's not LG or Samsung. They don't destroy my floors, which is okay. I feel it's too deep. I feel it's too deep, mostly because what my kids like to do is make something and then they put it into a Tupperware or What have you a little storage bucket thing, and then they put it on the front of the shelf and then Over the next week or two or three it gets pushed to the way back and then when you finally go to clean up the nasty Refrigerator, there's a bunch of nasty bowls of food there.
So what I'm seeing here is a refrigerator that's not only more efficient, it has better insulation. The design is not as deep. I'd like to see the door shelves come out a little bit more. I'm not an expert. I'm not an industrial design expert. What do I know? But look at this. It's pretty nice.
And it opens up nice and big.
So they're using this thing called slim tech, which is supposed to be thinner. And it's supposed to open up the capacity by 25%. And it's so much more efficient that you would, the energy use would drop by 50%. That's awesome. All right. I'm looking into it. I'll look, and learn more. What I like about this is that you have a lot more options.
I think we're going to see a refrigerator change to look and feel right now. If I were to redo my kitchen right now, I would get rid of some like my microwave. I have to slam it shut four or five times for it to work. It's only a couple of years old. It's three or four years old. That's ridiculous.
Appliance makers. Do you have to buy not KitchenAid or Wilp? The other ones build stuff that lasts. So I'm going to say build stuff that lasts. I was just watching Breakfast Club and Sixteen Candles and I looked at those, they were doing a bunch, there's a kitchen scene, I saw the old appliances and I see these old appliances still around today, and guess what?
They still work! Yeah, they might have broken this or broken that, but they still work. These appliances built today are only built to last five years. That's the life cycle of the appliances today. Because, they know, they don't care. They're going to say, Oh, you have to go this. A new look and all that stuff.
I swear up and down that there is a market for buying those licenses, buying the licenses of the design of those 1980s, 1970s, less efficient appliances, and remaking the front so that it's stainless steel, but you still have the mechanics, no computers. It's ruggedly built. There's no, not a lot of plastic parts in it.
So it's going to last a long time. Car manufacturers are doing the same thing. They're building cars out of plastic. Now they have engine parts that are built out of plastic designed obsolescence. It's ridiculous. And we're continuing to buy stuff like this without changing them, coming back to them and saying, stop, we don't want to buy a piece of shit.
Don't say a piece of crap car. I don't want to buy a piece of crap appliances and you're charging me three times more because it's new and cool. So anyway, there you go. The rates have gone up just a tad bit again. Last week was down to 5. Now it's 7. 5. So I don't know. Everybody's saying, Hey, it's going back down, but it's not.
And we're seeing closes slow down to gas is coming down. Now. I don't know if you're in, I don't know, Knoxville, Tennessee, where you're paying 3 a gallon. But when we see in California, when we see 4 and 9 cents at a Costco, that's something to celebrate. That, my friends, is something to celebrate. And here's the thing, if you're a gas station owner and you're charging five, over 5 now, shame on you.
Shame on you. All right. Homebuyers Workshop. Take the time. We have a few people using this right now. And I think it's a great thing because we're not here to sell you anything. We're here to educate you on the process, right? There's a lot of stuff that goes through the whole process of buying a house, right?
There's a lot of unknowns. This walks you through a major portion of it. We won't call you and bug you. We'll we're there for you. If you have any questions, give it a try. Okay, we talked about that list price reduction yesterday. It was a 170, 180. Today's 130, 179.
Nice standard-looking house. We're seeing a lot more houses. I think it was 20, 25, 25 percent of the houses that are listed today. Single-family homes in Santa Clara County, right? Nice house. Older built in 1953. It's older. Look original everything. That's a newer appliance right there, right? I would love to see that
I Think you're gonna have a treat when you see the houses the house that I'm putting up for sale Okay, so three bedrooms one and a half bath 1138 square feet really close to a freeway. That's why it's taking forever. And that's why You have to be careful about pricing Went from 2 million down to 1.
8, that's 200, 000 less than what the seller thought and the listing agent took it saying, Oh, we'll just take it and let it sit on the market for a while and see what happens. And then nothing happens. And they are
both of what's happening, right? Housing afford
at the bottom all the way to those at the top that Elon Musk's in the
Bezos and all those people there at the very top. And all of us at the bottom, there are people in the middle, but where you can buy a house today, it's going up and up. And I know it's more unaffordable. And it's because it's, I can't say it's us. Yeah. As an industry, our job is to make sure our seller gets the best deal for them in terms of cost of price Everything right?
NAR Finds Typical Home Buyer’s Annual Household Income Climbed to Record High of $107,000 in Wake of Rising Home Prices and Mortgage Rates
We set you up for success. That's my job when you hire me I Sherpa you I take you through the entire process and I do all that stuff for you so you can live your life That's why you hire a real estate agent. We have Red Finns and corporate America buying up swaths of houses and making it very difficult.
We have homebuilders barely building historically low numbers of new homes. We still have a lot of building going on, but not at the rate that we are that we need because our population is increasing. Our population is increasing. And more people are buying houses and technically speaking, it's more difficult because, as you become more affluent, you go from, poverty to middle income, to wealthy, and you will tend to not sell your house.
You buy, you might. Have to, but a lot of people are opting not to, so they decide to sell them, rent their house out, and buy another house that will help create that general generational wealth that we talk about. So that's one. And then also there is a huge swath of those with home mortgages right now, 67 percent have refinanced their home.
Down to two and a half to 3 percent than historically low-interest rates. So those people would tend to not sell that house. So a mix of all policy decisions, corporate, corporate purchases, and investments. And people becoming wealthier, not selling those houses. What we're seeing is there's a plethora of homes that are being sold by divorces, by deaths.
Your parents get older and that's it. And then those that are being relocated. Those are the three that are really strong right now. We're not seeing a ton of bank-owned properties. That's not going to happen, not for a while. And even if it does, it probably won't be to the numbers that we see.
Also, Airbnb bought up a lot. The individuals using the Airbnb business model helped make this problem a problem because they're taking them off the market and they're struggling. Now Airbnb is suffering. There are a lot of people that are walking away from that idea and either going long-term rentals or they're.
They're putting it on the market, but it's not such a huge amount of numbers that it's even one of the three legs that I look at. I'm in Silicon Valley, so I don't get a lot of those people anyway. So that's why it's becoming less affordable. It's a whole lot of little tiny points that make up a big difference in a big part of our GDP and becomes an issue when you have to have 107, 000 to be able to buy a house.
You can buy a small house. You can go out to Chattanooga and buy a house for 40, 000. It's not gonna be the nicest-looking house, but you can still do that. All right, enough of that. Let's talk about VA. If you're having issues finding a veteran, find resources for your veteran friends or family, or if you are a veteran and need help, you can find a VA location here.
If you get to a point where they're taking too long to help you, there are other resources here for you. PTSD, uh, you need a caregiver, whatever your problem is. I just watched something about guilt, which is PTSD. There are lots of things that go on in your head, right? And guys, I'll tell you, this isn't just for bets.
You can go and get better. These resources for yourself too. If you need help, these houses right here are being built in Florida. They're supposed to be more efficient. They're able to take you off the grid for a short time and they're supposed to be able to withstand hurricanes. Why is that important?
It's important because we have to dig deeper into our environment and become more self-sufficient here in California when we build homes. Now, I'm not talking about it. Building in the suburban block and building 50 to 250 homes. That's a totally different dynamic, right? Obviously, we need to be more LEED certified, lean towards LEED certified, which is green efficiency appliances and installation and building.
Depending on what the sources of You are like in California and most of the West Coast. We have a lot of fire firestorms, but forest fires and people live in the forest or in the woods and those tend to burn down. How do we make that house more efficient and more protective of the fires that might happen, right?
You build a house out of. out of wood, it will burn down. You build a house out of brick, we have earthquakes, it might fall down. So, my point here is, I don't know what the answer is. But we have to start looking towards building homes like this, where it makes more sense for us to build in environments to protect the house and also the environment.
That's today's highs and lows. I was going to talk about that, but I never did segue. These are the four highs and lows and I'll show you those numbers real quick. 9. 5 Princeville came in and Gilroy came in at 735 at 91 percent power drive in Santa Clara sold for 2. 2 at 130 percent of the list price and Shasta Ave in San Jose came in at 83 percent let's take a real quick look previous there.
This one right here, beautiful house, this to another, now you get to see nice pictures.
This makes me want to go buy some property in Los Altos, Palo Alto, Saratoga, Cupertino, some, a lot of property, and do something like this. This is such a creative design. So beautiful. I feel like the designer, the architect, and the builders all worked in harmony to make this house beautiful.
Okay, that's just dumb, but just think if this house is designed for living and entertaining, and yes, it's expensive. I understand that. I think this was seven or 8 million, maybe nine. Look, they even put in electrical everything. Every little detail here is thought out. It's a beautiful house.
Everything about this. The funny thing about it is 5, 000 square feet, four bedrooms, five and a half baths, five and two half baths, and an ADU on half an acre. 0. 7 acres, eight years old, took three days to sell at market Atlas price, 9. 5 million. The funny thing about this guy is that a similar house is a million, a million and a half, maybe two.
If you have it all completely decked out and other parts of the world, not saying that this is a beautiful house. This is gorgeous. Every little part of this house is gorgeous.
Yep. Gilroy, two bedroom, one bath, 1, 100 square feet. Built in 1941. Little bungalow. Bungalow. Very modest home. 670, no. What is South Florida? 735. Wow.
But originally listed at 800, went down to 7 in 35 days on the market. 40
Howard Drive. This is the biggest this, the 38, 30 1% over or 30% over list price. Listed at 1.7. Sold for 2.26. Bedroom, some monstrosity. Look at this. This is a, it should be like a duplex.
Yeah. Wallpaper getting nauseated. Just looking at it. Oh,
so here's the trick, right? You go low, right? There's no magic to it. If your ego tells you that your house is worth 2. 3, 2. 2, or 2 million, go low. It doesn't matter because the buyers will come out in droves and see it. And the other reason why this went for so much, look at that. That's where it's near.
It's within walking distance of Apple. So you can put 12 engineers in there, charge them 2, 000 each and it'll float. Crazy. Okay. This is a Shasta Ave. This is the lowest, the biggest dig started off at 2. 35. Sold at 1. 65625 127 days. What happened to this house? This is a beautiful house in the Rose Garden right down by guys.
This is where you want to live, right? Not necessarily San Jose, but if you're in Santa Clara, you're right there, right? Why in the world would you listen at 2. 35 other than ego? I did all this house and I remodeled this house 20 years ago. This is a beautiful house. Look at this.
All right. But it's original, right?
There's got to be a balance between there's got to be a balance between the buyer, the seller, and the agent. And if the agent is desperate, they'll take off the seller's recommendation of listing at high. I never subscribed to that. I did when I was younger. I learned my lesson because if I Do everything that I'm supposed to do.
And you as a seller, come to me and tell me that I am only going to sell it. If it's. 2. 3. I can tell you by the numbers and by the condition and the local and the market and the news that you hired me because I know my market, right? I know what's going on in the market. I know that we're contracting or we're expanding or I know, and I know in specific areas, I know how to read the data.
That's what you hired me for. And if you come back to me and say, my house is worth 2. 35, just like this person did and the agent concedes, you're going to think that the agent isn't doing their job. The agent does their marketing. They do their networking. They do their promoting. They do their open houses.
I bet they did 1520 open houses with this thing, right? It doesn't matter because of. Buyer comes through and sees this compared to something else and they have 15 other choices, especially now they're going to come in and say, no, I don't want that house. I didn't want that house. I want the other houses priced more reasonably.
I'd rather get that house than this because there's just no way. No way I'm going to buy that house for 2. 35 because that same house or something similar to it, size, condition, location, and market, half a mile away is 1. 7. I'd rather pay 1. 7, 1. 8, a little bit further away. Because what have you buyers are smart.
They're very well educated They have access to all the information and they know what houses are worth And if you overprice your house is going to sit on the market. Okay, enough of that Enough of my little meandering I'm vetoing with Abitano today. We talked about Whirlpool's new refrigerator hurricane-proof, uh, homes and why it matters to us in California.
And the household income at 107, 000 as an average. Crazy. All right. I'm Vito with Abitano. Hope you have a fantastic day. We'll see you out there.
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