🔴[LIVE] 🚨 Declining REAL ESTATE Markets! ?!?! | RV FIRE almost burns HOME



 








🔴[LIVE] 🚨 Declining REAL ESTATE Markets! ?!?! | RV FIRE almost burns HOME


 Happy 2024. Today we're talking about rates, gas prices, declining markets, San Jose residents nearly losing their home from an RV fire, and Santa Clara County being the second most expensive housing market in the U. S. And we'll also do highs and lows, and let's get going. 

Current Rates and Gas Prices

Today we're looking at, although these are non-quoted rates or non-approved rates,  you're looking at a base rate of 6.
67. Or 6. 96 for a 30-year jumbo. And if you're a VA veteran, you get 6. 09.  Now, these are all quoted based on certain stipulations, so don't really look at these numbers, but there you go.
The lowest price in the county right now is 3. 95. Open that up so you can see it real quick. There we go. 3.  95 and it is on Lacretia Avenue and it's 3.
95 a gallon at the quick stop. That's the lowest you're going to find in Santa Clara or San Jose for the most part. Okay. 

Declining Markets in the U.S.

Yes, we do have declining markets in Santa Clara, and in California as well.
There we go. Yes, we do have declining markets in California.  California as well as the United States. As a matter of fact, this is 140 declining markets, quarter over quarter, 35 percent of US housing markets declined quarter over quarter. Now what is quarter over quarter? It's last three months.

And I wanted to prove to the point that we are, even in the Bay area, we're seeing some declines in value. Reno, Nevada saw 2. 2. Chico, California saw 3. 0. And San Rafael, California, which is Marin County. I believe saw 4. 3 and all the way down below Santa Rosa Petaluma, which is Sonoma County lost 8.
3 percent quarter over quarter. So they saw a pretty major decline, not double digits like they saw in Pine Bluff, Arkansas. Let me zoom up so you can see it. There you go. You can see it a little bit better. Even Hawaii saw a little bit of a jump or drop.  Now, these are quarter over quarter. These are from rates being a little bit higher supply coming in, maybe joblessness, maybe a lot of different reasons, right?
But there are places all over the United States that are seeing declining markets, not in Santa Clara. I'm sorry. 

Santa Clara: The Second Most Expensive Housing Market

Not in Santa Clara because we have the second most expensive housing market in the U. S. Thanks to Los Altos and Palo Alto, but I can assure you that Cupertino, Mountain View, Sunnyville, Santa Clara, Cupertino, Los Altos, Los Gatos are also very expensive to live in.
Campbell, okay, Los Gatos is getting up there.



And even in San Jose, there are some high-end areas like Silver Creek and Willow Glen. And Alba den specifically where it's very expensive. But if you go to Campbell, you're still looking at two, two and a half million dollars for a house where here we're about 1.
5 and South San Jose, which is still crazy expensive, but that's what it is. Now some houses sell for 29 million in Palo Alto and Los Altos. And in San Mateo, where all the BC money is, it's where startups are, it's where high tech companies are, it's where VC, venture capital firms are, so there's a lot of money up there, and that's where all the affluence is.
If you want to be near the affluence, you have to move there, and I know the mayor of, I think it's Los Altos. Los Altos or Los Altos Hill. Anyway,  I speak to him regularly at network meetups and he's a pretty good guy, but it's, that's where you if you're going to be in a place where you want to have affluence, that's where you want to be.
I'm happy being in South San Jose with my children going to schools and enjoying people all over the place. There you go. 

Homelessness and Its Impact on San Jose

Okay, a San Jose resident nearly loses home from the RV fire. Now, this is an ongoing problem and it's not just in San Jose, it's not just in California, it's in every Metropolitan area, and it doesn't matter what your political views are.

We're having homeless issues in metropolitan areas. It just happens to be now. San Jose, as well as most metropolitan areas, have received county, state, and federal funding to help promote or help people. Supply resources for the homeless tends to be an ongoing thing and it seems like sometimes it seems like San Jose's doesn't want to curb that issue.
They try to do emergency housing. They try to do temporary housing and they just get through a lot of quagmire. So poor person gets stuck in the cracks and people tend to forget about it. So they wind up being on the streets. I wish there was a better answer.  However, we have higher theft here. We have higher incidents of homeless encampments everywhere, especially by Lowe's and by the police.
There's a satellite station over at San Jose Great Oaks. I think it is tons of homeless there, right? RV camping is everywhere you go around and it's almost like they're brazen about it. I don't have a problem with it except don't include me in that problem, right?  I know not in my backyard however, on November 26, there was an RV that caught on fire next to my Home and it caught the fence on fire and almost burned down a person's house Now that's complete irresponsibility on the RV owners But there's no recourse because probably doesn't have any insurance, probably doesn't have a permit to be on the street, probably doesn't have anything going on.
I think it's a sad situation when it's not politics, it's the government layers of government bureaucracy. Prevent homeowners who are paying taxes, property taxes, and sales taxes. And, they live and work there and there's no actual protection for the homeowners.  That is a little bit of frustration right there, which is why, one of the reasons why San Jose will always have lower-cost housing than any other city in Santa Clara County.
I'm going to do a series on that over the next year about why we. Are see that it's not the homeless problem. It's a lot of other things that are going on. 

Highs and Lows of the Housing Market

Okay, Highs and lows on Cherry Ave in Los Altos. This is a beautiful brand new home with five bedrooms and four and a half baths Looks like a big long ranch house with a bedroom great room.

Not much to look at five bedrooms four and a half 100 square feet built this year, this last year, almost a half acre listed at 4. 65, listed at 5. 465, sold at 5. 465 for a hundred percent over the list price. Of the list price, the lowest-cost house sold the lowest price. So home, in Santa Clara, this last week was in Gilroy sold for 929, 000.
Again, a hundred percent, 200 percent right there. Right now, this is a flipped little cottage. It's 83 years old and it's 1200 square feet. I want to remember 1220, 1232.
There you go. So there you go. Okay. And then the last one is Casa Lane. 26%. Oh no, Gerhardt.

This is the highest list price to sales price. The highest list price to sales price is 126 over the list price. Listed for a million, sold for 1. 324 with change. 68 years old, three bedrooms, one and a half bath, 1176 square feet. But if you look at it, it's been redone pretty nicely. It's a nice house. Now these are not my listings, right?
These are just highs and lows. They're really pretty houses. So there you go. And then the lowest list price to sales price was in Willow Glen. Listed at 3. 4, sold at 2. 1, took 53 days to sell, five bedrooms, four and a half baths.  And this was originally a teardown and then they built this monstrosity. I really don't like the look and feel of this house.
It just wants to capture Nouveau, but I feel like they just try too hard. And it looks like a housing logo almost, but it's pretty inside. But once you get past that curb appeal, it's hard for me to get past that. So there you go.  All right, nice, pretty kitchen,  nice stove floor plan. So there you go.
All right. 

Conclusion

Today we talked about declining markets, Santa Clara being the second most expensive market in the United States a house almost got burned down because of a homeless RV, and highs and lows. Happy 2024. I hope you make it a fantastic 2024. 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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