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 .  Good morning. Good morning.  All right.  How much home can you afford?  In Santa Clara County.   That's crazy. REWTF,  San Jose to pay six figures after losing public records lawsuit.  Title theft is on the rise and gas prices are below 4 in some places. Let's get moving.  All right, let's do this real quick. 

And then we're also going to do the highs and lows. So just be patient with me a little bit. How much? What money do you need to make every year in this valley to buy a median-priced home?  There are your numbers right there. You need to make 675, 000 that median price Average right now. Let me get to it real quick.

How Much House Can I Afford?

I just did this number This is why I'm running a little bit half haphazard one million seven hundred and sixty thousand dollars  This is the median sales price of all homes family Condos and Santa Clara County. Here's the chart right here. I'm going to make a little screenshot of this sucker right here too, which I already did.

But 1,  760, 000 is the median sales price. That means half of the houses below that are going to be median less than the median price, right? So you need  675, 000. Now I just rounded numbers because I was rushing.  You need 1,000,760, -1,000,775. Your monthly payments will be, let's take a look. 11,  000 you need a down payment at 20 percent which is 352, 000 your monthly payment would be 11, 579 that's including taxes and fees assuming everything is normally nominal, right?
It's not an exact quote.  Don't expect me to be like this is exactly what Vito said. So now this is just about if you're going to buy a median-priced home,  There you go. Now I just sold a house for one three eight. Oh,  is that right?  Oh wow. I wish it was 138, 1. 38 million with 276, 000 at the going rate is 6. 8.

You're looking at  900, 9, 079 a month.  That means you need to make,  Oh, I don't know how much that was.  575. 
Okay, so somewhere you need to be five hundred sixty thousand dollars to afford the house I just sold, which was original, everything,  original, everything. It's a fixer-upper. You're going to have to put money into it. So when you have about 5, 000 a monthly debt, that's which I don't know what that, if that's normal or not, but,  and.

Your property tax is 17, 000 per year. Just so you know,  fun times. I'm going to do this real quick for  S and G so I can put this into my blog. By the way, my blog link is down below in case you want to ever go see it. A nice thing to reference back.  How much house can you afford?  Now let's go back to that real quick.
You don't need to afford that. There are certain things where we can adjust stuff. Your lender can do certain credits and lower the price and all this other stuff. There's, these aren't exact quotes. These are just to get it in your brain to how much you can afford to find out how much you can really afford.

You have to figure out how much monthly budget you can afford to put towards your mortgage, which includes principal interest taxes and insurance as P I T I, and how much you can make it. So it's sustainable right now. I know people are spending about four or five six thousand dollars a month on rent.

So  There you go. Now again, let's talk to a lender if you're interested in buying but there you go Okay, San Jose to pay six figures after losing a public records lawsuit yeah, so apparently Our former mayor decided we weren't going to give out information that was rightfully open to the public and that was fought on first By a first amendment lawyer and sounds a spotlight asked for this information.

San Jose to pay six figures after losing public records lawsuit - San José Spotlight

Now. What is it?  Sounds like he's paying the half a million six figures Yeah, half a million dollars sounds like a spotlight on the First Amendment and the First Amendment coalition that prevailed over us We think it was a fight ba  Sounds like a spotlight that protects and promotes free press sued the city former summit sent former mayor Sam Liccardo in 22 for violating the California Public Records Act now you can go get any kind of information that's publicly available And if they get blocked let us know. 

When you have power, I don't know anything about Sam, Mr. Mc, or the Honorable Mr. Liccardo. I shook his hand once because I took an award from him.  Outside of that, I don't know anything about him or his politics or what have you. I don't know why this is, but government should be open. They should never hide anything from you.

It's a problem. I don't care what side of the aisle you sit on.  It's the government. Government needs to work for the people.  And that's the problem that I have here.  So there you go. Lessons learned. San Jose.  I keep mentioning this like I have a hole in my head. Title theft. I've only had one person take me up on this.

I'm not going to sell you anything. This is a free service for you so I can help. Make sure you're protected. There are scumbags out there that will take your house. And by doing that illegally and it becomes a legal matter, you can do it several ways, but the sooner you catch it, the better.

And if you have elder parents and they get scammed through this, make sure that you talk to me and I can put you in touch with the right people. Enough said and done.  Okay. Mortgage rates are down to 6. 11, 7,  I'm sorry, 7. 11 for a 30-year fix conventional, and a 30-year jumbo is 7. 6. So you're probably looking around there, you probably want to buy a couple points down to get to that quote, that's 9.

8. This is 6. 85. So yeah, there you go.  And gas is below 4.  I am just dumbfounded and happy to see this. It's about time. I know it's probably cause yeah, my Costco is four Oh five. So I'm actually going to put.  

The house is up for sale here. I'll be driving by that center Costco and filling up today  Just because we're gonna go into weekly highs and lows in a minute. 
We talked about that yesterday I think this is an awesome house. Just the way it's set up the 80s vibe in It's beautiful. I think it's really cool.  There you go. Okay, let's take a quick look at the highs and lows.  Here are the numbers real quick. 

Tuesday Highs & Lows

Nash Edelberry.  Nash, look at this beauty. This is the highest-sold house, the highest-priced house in Santa Clara County this last week. Nash Road, Los Altos. These are not my listings. Sold in six days, four bedrooms, three and a half bath, 4, 000 square foot, beautiful home. The way that looks, that picture makes it look like a little. 

cottage.  This is an older-style house, but it's nicely updated. I love the wood cabinets.  I like painted cabinets too, but that's a nice-looking cap set of cabinets there. 

Nice finishes, updated finishes, the doors, the knobs, the lights all look nice and modern.  The tiles are a little dated. 

There you go. Okay, that's the highest-priced one. The lowest price is    Eagleberry Street in Gilroy. Three bedroom, one bath, thousand square foot, built in.  1915.  It's 108 years old and has an ADU of 535 square feet,  listed originally at 599. 00, took eight days to sell for 750, 000, which was 25 percent over the list price. 

Pretty cool. 

There you go. Okay. 

Now we're going to go to this one first.  Wait, is that right? 

Golf drive,  4 golf drive in San Jose.  Originalist price. See, yesterday I talked about having the market come to you, right? This is a standard home. There's nothing fancy about it.  When they knew the price was probably worth 1. 5,  but when you attract people, you attract a huge amount of buyers.  You're going to sell this thing quickly and fast.

If you try to overprice it, say my house is worth 1. 6, you're not going to get the right amount of eyeballs.  You're just not, you're not going to get the right amount of buyers coming in. You're not going to get the right amount of contracts. You're not going to get the right.  You're not going to get the ability to leverage and negotiate and work buyers off each other.

And I can almost tell you that this one sold, it probably had 15 offers, maybe 10 offers on it. And then you just work them and work them. And you get up to where it makes sense. And you work with the players,  right? I'm sure that they had some people come in right at list price and they have some other people that went up, maybe 4.

And then you have one or two that got up here and those are the ones you work with. That's just a reality.  And you have better terms when you work on pricing like this. This is a beautiful home. It's 1600 square feet.  Looks like it has been really nicely updated. This is far better than the one in Los Altos. 

It's not as big, but it's far more modern. Look at that. And you're backed up against a golf course. It's great.  It's a little sunken. I don't know about that. I'd probably make that a waiting pool if I was me. But there you go. All right.  This is the biggest dive. 53 percent off the list price. Original list price. 

203 days.  I can sit here all day long and tell you all these stories, right? But I'm just showing you, this is it. This is a beautiful home. It should have sold a lot faster, probably not as updated as it should be. Look at this. It's beautiful.  It's a mountain house.  Really care for the red cabinets and red drum. 

Yeah. So dated 

the whole rock architecture is 90-ish and 80s-ish. 

It's 6, 475 square feet four four-bedroom five five-bath ADU with 1. 3 acres built in 1981. There you go. I called it the original list price of six million dollars Took 203 days to sell when you do that And you only get one buyer. The buyer controls the sale.  I'm sure that they had to do repairs. I'm sure that they had to do credits.

I'm sure that they had to do all sorts of stuff. When you go and buy a listing just to sell it,, you're not serving your client. And if you're arguing with your agent, you're just going to be.  Painfully disgusted with the whole process. So listen to your agent when it comes to selling houses. They know that's what we do I've been doing this for 20 years now. 

This is my 20 at 20 20th anniversary month I don't know the exact date  Tell you now, I'll tell you later,  but officially I've been doing this for 20 years and I can tell you that if you over-list a property, you're just going to sit there and be pissed off and disgusted with the whole process and you're probably going to blame your agent. 

When I sell 15 houses a year and I can tell you that your house needs to be at this price point to sell and make it a smooth transaction all the way through, listen.  That's it.  So today we talked about how much you can afford the lawsuit in San Jose. We have a home value tool. We went through highs and lows.

And I have a bunch of other links here,  call me and let me know your title, and ask me about your title. I'll just send you a quick property report and make sure it's set up the way it's supposed to be set up.  It costs, it takes me literally 30 seconds to do that and I'll email it to you. There you go. 

I'm Vito with Abitano. We'll see out there. Oh, and tomorrow I have a listing that I'm putting up today and I'll show you all the pictures. We'll see you there. 

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TITLE THEFT IS ON THE RISE WHAT IS IT, HOW DO YOU PROTECT YOURSELF AND WIRE FRAUD http://blog.abitano.com/2023/08/title... https://www.onereal.com/vito-scarnecc... Silicon Valley real estate, real estate news, stock market, Silicon Valley real estate, real estate crash, Bond yields, Wealthion, Airbnb, Blackstone real estate, MLS listings, Zillow, redfin, Santa Clara homes for sale, MLS listings san Jose, Airbnb property for sale, AirBnBust


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