• San Jose, San Francisco home prices expected to drop in 2024, Zillow predicts
• Average credit score to buy a house
• 12 Bay Area County Report
• Graphic
• Willow Glen Home of the Week
• Luxury Home of the Week

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Home prices expected to drop in 2024, Average credit score to buy a house, 12 County Home Sales (Willow Glen home of the week)

Home prices are expected to drop in 2024. That's what this article talks about. Also, what's the average credit score you need to buy a house today. And then we'll also go into the 12 Bay area County report, which we do every Monday. Have a little update on last week's Willow Glen house of the week. And then we'll talk about Willow Glen's house of the week this week. And then the Bay Area luxury house of the week, as well as just a snapshot of where we are this Week for the 12th Bay Area counties. Let's get moving. Okay, really quick.

San Jose, San Francisco home prices expected to drop in 2024, Zillow predicts

Predictions for Home Prices in 2024 Like this here , San Francisco and San Jose home prices are expected to drop in 2024. Now, this is a, I don't know, based on data that they're showing a 4. 8 decrease. And I don't know how that's going to happen. Other than that, the feds increase the rates. It's a very possible thing where we increase rates again, and then it slows down the market. Okay. But I don't know. I don't know. I think what Zillow is doing is just being very conservative here and my hair. Anyway, they're being a little too conservative. And I don't know if this is true or not right now. You could say it makes sense, but it doesn't. The lack of inventory and the amount of pressure we have here. I think whoever wrote this article doesn't really undo the velocity of the market. Now I'm not going to say that, Oh, something might happen and it'll trigger a stop or a stall or a depression. It absolutely can happen, but if things continue to go the way they are. Evenif Chickenn Littlee comes and says the sky is falling, I think houses here are still going to sell for more than what we're looking at, for what we're listing it at. And I can show you that with some proof. However in World War III, Bitcoin was the value of the dollar and economic decline globally, we don't know, right? So all sorts of things can happen. Spoken about that in the past, but just be aware that Zillow is talking about it, and they also say that they reset these numbers every quarter. So in the summer, we're going to see the numbers say that the depression really didn't happen. Just be aware of that. Okay.

Willow Glen Home of the Week

Update on Willow Glen House of the Week Last week, I talked about this Cherry Valley listing in Willow Glen. It was the Willow Glen house of the week. And I said I was going to sell really fast and guess what? nine days, nine days. It went pending. Just crazy. And this was original. This is an original house listed at that. It could sell for 2. 6 after it's fixed up, there you go. Median sales price and average sales price. I'm trying to redo my grid because I lost it. I, yeah, went through a house cleaning and I accidentally got rid of my lives spreadsheet, which I've spent three years building, but that's okay. The numbers are here. The numbers are going up methodically. The good news is we have a huge glut of inventory right now, and we're going to talk about that in a minute.

Average credit score to buy a house

Understanding Credit Scores for Home Buying What's the average score by state? What average score do you need to buy a house? In California, you need an average of 721. Obviously, 800, 820 is pretty damn good. So if you can get there, you're good on gold. You're writing gold paper, right? There are still subprime lenders that will go out there and Take the risk of loaning you a mortgage for a house something to be aware of up here in Montana 730 so don't be afraid if you have bad credit, let's talk to a Loan broker. They have the means to talk to you about credit counseling paying off debt Massaging it getting your credit score in a place where you're more Salable to the underwriter. So something to think about remember, it's not just credit score. It's also your employment history and obviously, your income, how much down payment you have a debt to income ratio, and what kind of assets. Now I'm not talking about gold or Bitcoin. You could use Bitcoin, but that's still talking about 401k retirement saving stocks and bonds, that kind of stuff. You have to have assets to say, Hey, I'm a worthy buyer. In case I get laid off tomorrow, I'm still able to pay my loan. My monthly mortgage. I hope that makes sense. Okay.

12 Bay Area County Report

Showcasing Willow Glen House of the Week Will a Glen house of the week is Mildred Ave. Another older home. This one has three bedrooms, two baths 200, 2200 square feet built in 1941. Let's look inside. They let us again. These are not my listings. These are just beautiful Willow Glen houses. I love Willow Glen. I love Los Gatos. I love. Everything about this area, right? So the house has been updated. It's still a little boxy, but that's what you get when you buy Willow Glen. If you buy an older original house that hasn't been torn down and put a McMansion on it, this is what you're looking at. Older style, but they have a little tile granite tile that can all be torn out. That's not a big deal. It's just something to be aware of. And I can guarantee you before they put this on the market, that these, how these that these walls were a different color and. The cabinets were probably dark as you can see everything else is dark in here That's how houses were back in the 50s and 60s cow hide See that was the original color right here in the kitchen betcha 50 cents. So this is vacant. This one's priced Pretty good. I mean the area probably would have gone down a little bit lower But again, it's hubri,s and what's? Amazing about it is you are this close to downtown Willow Glen. You can walk there and back and make a day out of it. It's walkable.

Luxury Home of the Week

Luxury Home of the Week Luxury home of the week. I think we talked about this one before. It has only 34 bedrooms. This could be a hotel. 19 full baths, seven and a half baths, and seven half baths. 24, 000 square feet. Nobody in their right mind needs that 74 acres. That's one. Yeah, that's one-an-eighth of a square mile crazy See, it doesn't say when it was built. Not a big deal. Anyway, this thing's gorgeous. This is a castle, right? This is like Hearst Castle, but it's not it's more wooden Yeah, I think I might buy it. It's only 110 million dollars. I don't know what the mortgage payment on that is. All right, really quick. Current Market Snapshot and Predictions

Graphic

I'm going to open this up so you can see it a little bit better because I want you to see five. There you go. So nothing crazy going on. However, I do see that our numbers have gone up. We have 1500 active listings. Remember I told you that we need to have about 2000, 1800 to 2000 to have a balanced market or at least a healthy market. We're getting there. And it's the 1st of March, the 1st week of March. March, April, May. That's when we sell. That's our selling season. That's when we sell the most houses. Drop this down again so you can see me better. More of, we need to have this inventory. And over the last three, or four months since October, we saw the market, the supply dwindle and dwindle. And we did limp stuff along, but now we have 1500 houses on the market. These are single-family houses. And We're going to see that number continue to increase until May when we see it flatten out, if not decline, that's normal. That's okay. We do see the same thing in Alameda Contra Costa and San Mateo. We're seeing that bump up. San Mateo is a smaller County, so that's a good, healthy number, but for us, we want to see 2000, 1800 to 2004 to be, it's not a buyer's market. It's just a balanced, healthy market, right? We're going to see. Prices flattened out, but I don't know if we're going to see a decline unless we get a glut. If we go over like 3000, the months of inventory for Santa Clara County will go over six months. That becomes a buyer's market, but not everywhere because you go to Cupertino and those still sell like hotcakes. If you go to East San Jose, they're going to take a little bit longer to sell. Milpitas is going to take a little bit longer to sell, et cetera. If that makes sense. All right. Conclusion and Final Thoughts Today we talked about San Jose and San Francisco poised to lose 4. 8 percent by Zillow. I don't know if that's right or not. And we did see the Willow Glen house of the week last week go in pending within seven days. And we talked about the median price and your average credit score does play a factor. It's not the only factor though. So if you have credit issues, let me know, and I'll introduce you to my loan brokers unless you know somebody. And we can talk about credit counseling and get your credit score up. But again, you can still have a 700 or six 80 score and still buy a house. If you're a veteran you're insulated from that. So there's a lot of different options. Don't be afraid to buy. If you can afford it, if you're paying a lot of taxes, this might be a good way to offset those taxes. And we also had the Willow Glen and the luxury homes of the week. And then we talked about the County Bay area snapshot. I'm Vito with Abitano. Hope you had a great weekend. We'll see you out there.

Vito Scarnecchia Real Estate Broker, Veteran, Dad DRE#: 01407676 408-705-6817 Vito@abitano.com Website: abitano.com https://www.onereal.com/vito-scarnecchia-1 update your home value: https://hmbt.co/bT7qRJ RELOCATION@ABITANO.COM FREE DESKTOP APPRAISAL https://www.propertyrate.com/agent/vitoscarnecchia If you are moving ANYWHERE in the world - Let me know! I know a LOT of AMAZING Agents! Book appointments here: https://calendly.com/abitano/15min Home Buyers 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://docs.google.com/forms/d/e/1FAIpQLSc0R5pjHIAPguZ5GDEB-fTbGJXKpWK3coK9Khymv_GTWkMnyQ/viewform?usp=send_form https://www.onereal.com/vito-scarnecchia-1 Willow Glen's five most expensive homes https://youtu.be/3A_E2ck0ePg

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Title: Home Prices Expected to Drop in 2024: Average Credit Score to Buy a House & 12 County Home Sales (Willow Glen Home of the Week) Introduction: In this blog post, we will explore the exciting world of real estate and delve into some interesting topics. We'll begin by discussing the projected drop in home prices for 2024, followed by the average credit score required to purchase a house. Additionally, we'll provide an update on the latest home sales in the 12 Bay Area counties, with a special feature on the Willow Glen House of the Week. Lastly, we'll take a peek at the luxurious homes available in the market and provide a snapshot of the current state of the real estate market. Let's dive right in! Predictions for Home Prices in 2024: According to an article discussed in our script, there is speculation regarding a drop in home prices in 2024. The projected decrease of 4.8% in San Francisco and San Jose raises questions about the potential impact on the market. While some experts argue that the lack of inventory and the current market velocity may help sustain prices, others believe that external factors such as interest rate fluctuations could slow down the market. It's important to note that these projections are subject to change, as they are revised quarterly. Therefore, it's essential to stay informed and monitor market trends closely. Update on Willow Glen House of the Week:

Last week, the Willow Glen House of the Week, located in Cherry Valley, created a buzz in the real estate market. This original house received tremendous interest and went pending within just nine days. The property, listed at a certain price, has the potential to sell for even more after undergoing renovations. This success story reinforces the desirability of the Willow Glen area and highlights the methodical growth in home prices. It's worth mentioning that there is currently a surplus of inventory available, providing prospective buyers with a variety of options. Understanding Credit Scores for Home Buying: Buying a house involves various factors, one of which is your credit score. In California, the average credit score required to buy a house is 721, but higher scores around 800 or 820 are considered impressive. However, it's essential to remember that credit scores are not the sole determining factor for loan approval. Lenders also consider employment history, income, down payment amount, debt-to-income ratio, and assets when assessing mortgage applications. It's important to be aware that even with a lower credit score, there are still loan options available. Consulting with a loan broker can provide valuable insights into credit counseling and strategies to improve your creditworthiness. Showcasing Willow Glen House of the Week: This week's featured Willow Glen House of the Week can be found on Mildred Ave. This charming three-bedroom, two-bath home was built in 1941 and spans approximately 2,200 square feet. While it retains its original style, some updates have been made to enhance its appeal. As with many older homes in the area, thoughtful renovations can transform the property into a modern gem. The proximity to downtown Willow Glen adds to its allure, making it a delightful choice for those who enjoy a vibrant neighborhood. Luxury Home of the Week: For those with a taste for extravagance, we present the luxury home of the week. This remarkable property boasts an impressive 34 bedrooms, 19 full baths, and seven half baths. With a staggering 24,000 square feet and 74 acres of land, this estate offers unparalleled grandeur. Although the construction date was not specified, the exquisite design reminiscent of a castle showcases the epitome of luxury living. Priced at a jaw-dropping $110 million, this property caters to the most discerning buyers. Current Market Snapshot and Predictions: Now, let's take a look at the current state of the real estate market. As of March 1st, the market is beginning to gather momentum. With approximately 1,500 active listings, we are gradually approaching the balanced inventory range of 1,800 to 2,000 homes for sale. This increase in inventory aligns with the upcoming spring selling season. Although prices may stabilize, an overall decline will only occur if there is a significant surplus of inventory, exceeding 3,000 homes. It's essential to note that various neighborhoods within the Bay Area may still experience high demand and quicker sales. Conclusion: In conclusion, the real estate landscape is ever-evolving, with predictions suggesting a potential drop in home prices in 2024. While these projections can fluctuate, it's crucial to stay informed about market trends. The success story of the Willow Glen House of the Week emphasizes the desirability of the area, along with the methodical growth in home prices. Understanding credit scores is vital for aspiring homeowners, as they are not the sole criteria for loan approval. Finally, we explored a luxurious estate that exceeds the wildest imagination and glimpsed into the current state of the real estate market. As always, stay informed and consult with professionals to make the best decisions in your real estate endeavors.

Home Price Forecasts, Housing Market Updates, and Credit Score Insights The video discusses the prediction of home prices dropping in 2024, particularly in the San Francisco and San Jose areas. The host also covers the average credit score needed to buy a house in California, updates on the housing market in the 12 Bay area counties, and features the Willow Glen house of the week. The video concludes with an overview of luxury homes in the area and a discussion of potential factors that could impact the housing market, including global economic decline and the value of Bitcoin. 00:00 Introduction and Overview 00:33 Predictions for Home Prices in 2024 02:02 Update on Willow Glen House of the Week 02:36 Understanding Credit Scores for Home Buying 03:37 Showcasing Willow Glen House of the Week 04:47 Luxury Home of the Week 05:12 Current Market Snapshot and Predictions 06:38 Conclusion and Final Thoughts

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