🔴 Be Careful who you hire as your real estate agent | 3 Reasons to Buy Houses That Aren't Selling
- Los Angeles Realtor Accused of flooding clients' home and refusing to help
- |Luxury HOME of the week
- Price Reductions
- Bay Area 10 County Report
🔴 Be Careful who you hire as your real estate agent | 3 Reasons to Buy Houses That Aren't Selling
Los Angeles realtor accused of flooding a client's home and refusing to help. We're talking about that as well as price productions, Bay Area, 10 county report, and luxury home of the week. Let's jump into the luxury home.
|Luxury HOME of the week
The luxury home of the week is this guy right here, only
39 million on. The Always Fun Pebble Beach. It even has its own little mini golf course there. Look at that. Little putting green. 7 beds, 10 baths, 7455 square feet on 3. 16 acres. Crazy. Look at this.
I walk that beach once a week. At least I try to walk it every week, but that's a great view. Especially if you're on a drone.
Look at the nice little walkways.
If you know anybody, let me know. I love to do this job with with this is not my listing. This is a listing from, I think he's Coal Banker down here in Carmel. And this is just beautiful. Look at that. It's amazing. It's funny how we looked at white painted cabinets as the cool mode right now, but nowadays it's the wood veneer that might be real wood, but it looks like it's veneer little wine room.
That is amazing. Look at that beautiful view.
Gorgeous house. It has one of those steel roofs that you see a lot in snow and hurricane areas, but it's great for high-wind areas too. So if you're a golfer, this is a great place for you to sack up on the weekend. If you want to know more about it, let me know. We can arrange a showing. Okay, price reductions.
This one is right here. It's a paltry 1. 149 million or 1. 150 three bedrooms, two baths built in 1960, 1687 square feet, and pretty small dated. This is in 95111. It
looks like it was updated and fixed up for the show. Pretty tight little area. It looks like they took out a wall to make a larger great room if you want to call it that. I think the kitchen in that other place was larger than this whole house.
Yeah, cute little cabin-looking, I want to call it a ranch, but I don't even know.
Oh, it's on the other side of where I used to live. So I used to live right,
I used to live over here, further down. So yep, Maui Drive, Kauai is in the Hawaii area. So it's a nice, it's a nice home for 1. 1, but it's been on the market for 63 days and they just recently reduced it 50, 000 because it's not selling it's not moving and it's a clear indication that's something you have to do Let's take a look and see if this was the original list price was here.
A Realtor who appeared on the TV SHOW "Million Dollar Listing" is accused of flooding clients' homes and refusing to help.
Here's the problem, right? They listed it for 2 million. They found him on million dollar listing and they're like, Hey, this guy's gotta be. right? But they took it and I'm sure this is an accident, right? This is an accident. I'm not saying that they, this agent did it out of malice or had forethought of this.
I'm sure it was just, an oversight, but he left the fireplace on and I believe it, the whole house got up to 135 degrees and the sprinkler system went off and the neighbors were calling the owners and saying, Hey, What's going on? There's a bunch of alarms going on. Your house is flooding and of course, the sellers are freaking out.
Now, here's the worst part the sellers bought another house and they called this agent and said, we want you to sell this house because we need to sell it and buy the other or start making payments. We don't want to have two mortgage payments. After this debacle. Now the company, the brokerage is pushing back and saying, no, it's not our fault.
It's not something we're going to take care of. We're not going to help you out. And now the buyers or the sellers are stuck between a rock and a hard spot. And the way the contracts are set up is that the seller can't force the buyers out of the contract because this happened during. The escrow process.
So it's still the seller's responsibility, right? And because the way it's set up on this other house, the buyer's house is, Hey, can't get out of contract on that because. That has nothing to do with the fact that they can't sell that house or close on that house until all the repairs are made.
That's not the seller's fault for the other house that they're buying. So on top of this, to make things even worse, the seller still has to pay the commissions of a hundred thousand dollars. There's 200, 000 worth of damage and they're stuck between having to pay two rents or two mortgages and they're pushing the buyers off.
Hopefully, the buyers will pull out, but probably not because, all the repairs have to be made. That's an insurance claim issue, but it's also the fault and negligence of the agent and the agents saying, Nope, not our fault. We're not going to take care of it. Sorry that I did that. And if you read here, they also said that they showed video coverage of the agent coming in during that time.
Turning on the fireplace, either an open house or showing turned on the fire. And I think it's just like a gas fireplace, right? So it's a heating fireplace, a gas-run fireplace. And when they left, when that agent left, they didn't turn it off. And that's when it got hot and just. Cooked off the whole house the fire sprinklers went off and caused all this damage.
So there's smoke there's water damage, there's all this stuff, 200, 000. And now the sellers are going to have to sue. They're saying that they have to sue. This is all supposition. This is all from a report. I can't say this is actually what happened. I don't know the backstory, but here's the thing. We have something called E& O insurance, and E& O insurance has to take care of this.
And maybe it's the due process of how we handle E& O. I've never done something like this, so I wouldn't know. But I would feel really horrible. If that happened to me, I would check some balances, making sure that lights doors, and windows are all locked up before I leave as the buyers leave. I go, I'll be right back.
And I go and check and double-check, make sure that nothing ever scandalous happens fireplace, unfortunately. happened. I can't say that I would I can't say that it's a bad thing. It's a bad thing, but I can't say that they're doing it out of malice. I would say I, if that was me as the agent, I would probably be losing months of sleep.
Couldn't sleep. Massive stress. Don't know what to do. I know that it would be me at fault, but because the way the brokerage is coming at it is they're saying vehicle, it's not my fault. It's not our fault. We're not to blame for that. Now, apparently where they are. In LA, wherever this is, they can tell you specifically what hours the gas meter is being used because it's a smart meter.
They went away for the weekend, the sellers went away for the weekend, and then the show, the showing, the agent showed up, turned on the fireplace. And left, they have video footage of him turning it on and not turning it off, showing the house, and then leaving. And then the gas meter shows the hour-by-hour usage and it was zero, zero, zero all the way up until it showed the showing happened.
And then it just kept on going. So on top of that, the sellers have to pay the gas bill for all this to make things even worse. What do you think is this something how would you handle this if you were the seller and how would you handle? If you were the agent, yeah, let's talk about that.
Bay Area 10 County Report
10 County sales report not a whole lot to talk about We're still all under from last year except for Napa now actually came up a little bit Which is good because all last year now post-suffering
If you look, they came in, they're always like the lowest and this last week they had a good punch. Santa Cruz came in 85%, 85 percent of the list price of last, I'm sorry, last year. It doesn't mean that the sales prices aren't going up or not, but anyway Solano, the average sales price is 581, 000. So if you're really struggling to buy a house, maybe you look at Solano.
Just saying, this because here in Santa Clara, the average price of a house is 2, 000, 000. It's a far cry from 581, 000. Sonoma is probably a little bit more on average. You're looking at 1, 000, 000. That's the average of that week. The average sales price in Sonoma last year was 900, 000. There you go.
Sonoma has Petaluma, and Santa Rosa in it. It's a nice, more country. But it's a nice place to live. Solano is north of the Delta and it's a little bit further to go than even Alameda County. Contra Costa County. 968, 000 that's just above Alameda. So think about it. If you have questions about where you want to go, let me know.
I haven't averaged that out yet for the next week I will. And then this is it goes based on negative or subtracting last week's from this week. So that'll be all set up, but there's your close for the week where the average sales volume is 234 million. We had a hundred. We had a
339 closes this last week in 10. counties. That's a lot less than last year.
I didn't count the numbers then, but February was 496 over two months. That's about right. Okay, so there you go. All right, that was it. 13 minutes. Today we talked about luxury homes and list price productions in Santa Clara. The realtor decided not to make good on something. They did, supposedly, and the 10 County Bay Area report.
I'm Vito with Abitano. We'll see you out there.
Vito Scarnecchia
Realtor®, Broker, Veteran, Dad
DRE#: 01407676
408-705-6817
Vito@abitano.com
Website: abitano.com https://www.onereal.com/vito-scarnecchia-1
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Luxury Homes, Realtor Scandal and Bay Area Realty Update
In this episode, we cover a variety of real estate topics. We start off by showcasing a luxury home in the Pebble Beach area, valued at $39 million. Next up is a discussion of price reductions on a property in the 95111 area. A major part of the episode is the story of a realtor from the TV show 'Million Dollar Listing' who allegedly flooded a client's house and refused to accept responsibility, causing the homeowners substantial distress and financial hardship. In the end, we provide a 10-county Bay Area report, discussing the sales volumes and average house prices. Be informed and gain insights into the world of real estate.
00:00 Introduction
00:14 Luxury Home of the Week: Pebble Beach Mansion
01:47 Price Reductions: A Closer Look at a Property
03:10 Realtor Accused of Flooding Client's Home
08:30 10 County Sales Report: Market Analysis
10:46 Conclusion and Recap
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