šŸ”“ Sales Volume lower than expected | Should I buy Air Conditioning? pool?| Mountain View Home of the Week



 





šŸ”“ Sales Volume lower than expected | Should I buy Air Conditioning? pool? | Mountain View Home of the Week




Introduction

You ever have one of those weeks where you're like holy or days where it's just I'm gonna get everything done today and all of a sudden  Business comes your way and you just have to be grateful, right?  

REWTF of the Week: Unusual Home Features
Man, just one thing after another So today we're talking about our REWTF of the week Should I buy an air conditioner or should I have a pool?

Talk about the small costs of that. And that's going to be it towards the end. So stay tuned. And then we'll talk about the REO of the week and a mountain view home of the week. So let's get started. Oh, R E W T F of the week.
Let's see if we can get this thing going here. Play. Okay. Look at this.  Holy moly. Who puts carpet on a wall?  Seriously folks who in their right minds would put carpet on a wall, especially in a bathroom.  Bathrooms have moisture. I just, you can smell that house. It's just gross. It's disgusting. Just think about all the particles that are floating around in the air.



Mountain View Home of the Week
Something nice to talk about is Mountain View Home of the Week. This is on Creedon View. This is not my listing. Okay, this is a beautiful house.
It's a beautiful house. Look at this.  This is how you should make a house look to make it look like a model home. I'd love to do a walkthrough video of this. I'm going to call him up and ask him. The problem is it's going to be sold so fast. Look, Star Wars. Yeah. Okay. I'm a Star Wars nerd. Just so you know, Star Wars, Star Trek Stargate Atlantis, everything star nerd me.

I, okay mountain view close to all the big tech engineers. You can do it. It's only 3. 6 million on the market for 27 days. This sucker is going to sell though. Look at it. It's beautiful. The only thing I don't like is the people being able to look inside. Of my garage because you've never seen my garage.

I'm terribly messy


Bank Owned Property of the Week

REO of the Week


Bank-owned property of the week and I was going to make it this guy Harriet down in Campbell Just spoke to a potential buyer about this sucker. It's been on the market for 119  days original list price Is 2. 5. Now. It's listed at 2 million dollars four bedroom three bath, but look at this fugly Excuse me.
Exterior. Nobody's going to pay 2 million for that. Sorry. And the problem is this is a bank-owned property. So the bank's everything's nice inside. Why can't we get 2 million? Why can't we get 2. 5? Everything else is selling around it.

Location, price, and property condition. Now look, it's a beautiful house, right? Completely gorgeous inside. Whoever lost it. I feel bad for you. Mean has a detached garage built in this in 1978. It's 2, 000 square feet. It's big enough But this thing you got to get rid of it that whatever this is I don't even know what kind of style it is because I've always feared anything that looks like that.

It's just  Wrong on every level. So what I would do is tear all that out,  make that wall go all the way up, put some brick around it and reframe that roof, which means you're going to be spending about 75 to a hundred thousand dollars just to make this thing livable. Livable. Modern looking, right?

I'd probably get rid of these little crested windows, et cetera. It's a beautiful house inside. The location is pretty awesome too. Granted you're on the freeway here. Can you see this?

Go to satellite. This is Campbell. You're bordering on Montecerino, Los Gatos. Downtown Campbell's right here,  Hamilton, and that's Westgate right there, right? That's Westgate. So you're not super far and you're really bordering on Saratoga. So I think what they did is they comped out Saratoga and they're like, Oh, it was worth 2.

5 million. Apparently after  119 days, maybe you should listen to the market instead of what your seller saying.

Already did Mountain View home of the week. There it is again, 119 days guys.

 Right. 

Is Air Conditioning a Good Investment?


Should I buy Air Conditioning? pool?


So maybe you're seeing in here on my Facebook page that I asked you if air conditioning is a good investment,  I thought I'd do some research for you. Is air conditioning a good investment? Now,  I also did it for pools. Now understand this is generally speaking.
This is general. You have to go down to your type of house, the number of bedrooms, the square footage, and the condition and look at the prices. And then to do a comparison just like this. This is just San Jose single-family homes that sold in 2023.  Okay. It has nothing to do with condition or location or what have you.

So take this with a grain of salt,   you ready? Okay. Should I get air conditioning?  Let me make this big for you so you can drop your jaw. The difference between homes sold with air conditioning and without air conditioning is 336, 000. That can't be right. It is because I did the little math and I did the little math and then I did the Delta and that's what it is.
Roughly 30 percent of the houses that sold without an air conditioner last year. These are single-family homes in San Jose.

Now, I want to make sure that I'm very clear about this, right? Doesn't mean go out and spend 40, 000 on an air conditioner, a central air conditioner system, whatever. It's not, Vito said you'll make 300, 000. No, you're not. It all depends on the house, the location, the condition, and the price. What's being sold around it.

And when you tell me, I want to sell my house. I don't have air conditioning. Should I put air conditioning in? I'll do a survey based on that, based on the CMA of your house. Comparative market analysis, CMA. We'll have that discussion and we'll make that decision.

And based on not just The air conditioner or not, but the condition of your kitchen and your bathroom and your flooring and your windows and your appliances and everything else, I'll let you make a judgment call. We'll educate you on the entire process of it.  But generally speaking, your house is worth over 336, 000 if you have air conditioning in San Jose compared to last year.

Should You Get a Pool?


Okay, should I get a pool? Mike McKiernan, I hope you're watching this.

Mike is a buddy of mine, played poker with him, and stayed in touch with him over the years. Great guy. He lives over
East, South,  West San Jose, Almaden area. He hates his pool because pools cost a lot of money to run and I'm telling you it costs you four to seven hundred dollars a month. To run a pool. I sold a house to another couple, a few years back and they don't heat the pool because it's so expensive yet you garner more.

Now, again, this doesn't take into account the condition. If anything else has been rebuilt, if it has an air conditioner or not, and you can't come to me and say, Vito, I have air conditioning and pool. So really I should have 500, 000 more, 600, 000 more than everybody else. No, it doesn't work that way. It absolutely doesn't work that way.

So don't come to me and say that, please. So,, for houses with pools,  356 sold for almost 2 million houses without pools sold for that. Now.  It's a very general number, right? This is a very wide spectrum. We'd have to go way down into the vitals of your house, three bedroom, two bath,  1200 square feet 60 years old at a one-mile radius.

And we'll take a deeper look into that. And then we'll compare and contrast houses with pools and houses without pools and how much more value you're going to get. So please be advised that I'm not advising you to get a pool or air conditioning, unless we do that deep down, deep dive.

Don't look at this as, Oh, I get money in my pocket because I will smack you down. Okay.  Let's see  40 days on the market, 40 days on market. 

Market Trends and Analysis

Medium home value across the United States is 380 Wednesday, 382, 000 median home value in California is 800. Santa Clara County is

about two.  That's about 1. 9 on the median. Days to sell over time is about 17 days on average, right? Your house could take longer like that house with a more modern mountain view or it could be on the market for 119 days because of something that's functionally obsolete and don't come to me and say you promised me 17 days.
I'm not promising anything to do that. That's why our sales volume is much lower than we expected.  Much lower. You ready? Last week we had 22 closes, but that was about a month ago. Remember the week between Christmas and new year's everybody's out skiing or.

On vacation or not thinking about houses. So while I'm not saying it's normal to see a slowdown and that these numbers are still pretty slow. There was a little pre-Christmas rush and we closed 45 and then this week we closed 22 because a month ago there wasn't a whole lot on the market and everybody else was thinking Christmas or vacation or being with their kids.
I totally get it.  What we're going to see is these numbers are going to start building up over, over time. What we're seeing now is active homes for sale about 146 in San Jose. It's dangerous.  What we're seeing in Santa Clara County is about 552, which is completely not normal. These numbers are all based because we're coming out of the winter thaw.
So when I see these numbers of 386 versus 705 versus 1237 average closes per week in 2021, these, this number will bump up. I don't know if we're going to get to 700 every week, but just be aware of that. Okay, I closed last week, last year, average sales price were down 48 percent from last year.

The median price is 1. 4 for San Jose.  That's not true at all. So a lot of these numbers will get more accurate between June, July, and August, you'll see the real numbers coming up. This is just real-time data high was 124 56 percent of homes that are selling over this price. We still have houses that have been on the market for a really long time.

Days on the market with 19. Last year it was 31 because it's again, Christmas push. That was absolutely normal.  67 homes went into contract last week. So we have buyers out there, not as many as we'd like, but we also have very low inventory. And everything else is pretty normal. So there you go today. We talked about the REWTF  Mountain View home of the week and REO of the week. 

And is air conditioning a good investment? I think it is because you actually get some utility out of it on top of the cost. Yes. You're going to run it in the summer and when it's hot it's going to cost more, but you get utility out of that. You get used to that.  And then we also talked about the 40-day days on the market report.


I'm Vito with Abitano.  See you out there. Have a great day.

Vito Scarnecchia Real Estate Broker, Veteran, Dad DRE#: 01407676 408-705-6817 Vito@abitano.com If you are moving ANYWHERE in the world - Let me know! I know a LOT of AMAZING Agents! Website: www.abitano.com Get your Equity and Investment report here RELOCATION@ABITANO.COM FREE DESKTOP APPRAISAL https://www.propertyrate.com/agent/vitoscarnecchia Free Homebuyers Course YT YouTube.com/SanJoseLiving IG https://www.instagram.com/abitanogroup/ FB https://www.facebook.com/vito.scarnecchia/ LI https://www.linkedin.com/in/vito-scarnecchia/ Blog http://blog.abitano.com/ POD https://spotifyanchor-web.app.link/e/oxdH1Hwfcvb Professional Photography by Kim E https://photosbykime.com Local Real Estate Market and Home Value Report https://hmbt.co/bT7qRJ Financial Intelligence https://www.onereal.com/vito-scarnecchia-1 Willow Glen's five most expensive homes https://youtu.be/3A_E2ck0ePg?sub_confirmation=1


Real Estate Market Insights: Air Conditioners, Pools, and Property Evaluations

This video covers various topics including deciding whether to invest in an air conditioner or a pool from a real estate value perspective. The speaker also presents a walkthrough of 'Mountain View Home of the Week' and the bank-owned 'REO of the Week'. The video additionally addresses property pricing and alterations to enhance property value. A detailed review of the San Jose real estate market conditions and trends is also presented.

00:00 Introduction
00:05 REWTF of the Week: Unusual Home Features
00:45 Mountain View Home of the Week
01:32 Bank Owned Property of the Week
03:11 Is Air Conditioning a Good Investment?
04:58 Should You Get a Pool?
06:26 Market Trends and Analysis
09:03 Conclusion and Sign Off

Option 1: šŸ”“ Sales Volume lower than expected | Should I buy Air Conditioning? pool? | Mountain View Home of the Week In this video, we discuss the pros and cons of buying an air conditioner or having a pool. Join the conversation and let us know which one you prefer! #HomeInvestment Option 2: Looking for some real estate insights? Check out our latest video where we explore a Mountain View home of the week. It's a stunning property that you don't want to miss! #RealEstate #HomeTour Option 3: Curious about the current market trends? We've got you covered! Watch our video to learn about the bank-owned property of the week and discover how it can be a great investment opportunity. #RealEstateInvesting #PropertyForSale Option 4: Is air conditioning worth the investment? Find out in our latest video! We break down the numbers and discuss the impact of air conditioning on home values. Don't miss this informative discussion. #HomeImprovement #PropertyValue Option 5: Thinking about adding a pool to your property? Watch our video and learn about the costs and benefits of having a pool. Dive into the discussion and share your thoughts! #HomeUpgrade #SwimmingPool

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