Sam Bankman-Fried’s $222M | Silicon Valley Inventory is still too low | What you get for $1MM in SILICON VALLEY

 


Sam Bankman-Fried’s $222M | Silicon Valley Inventory is still too low | What you get for $1MM in SILICON VALLEY

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Introduction to Santa Clara County's Real Estate

 What you get for a million dollars in Santa Clara County, Sam Bankman Freed is selling his Stuff his resorts his manners his estates because he's going to jail Real quick snapshot of inventory and I have a new one for you to take a look at to put it into perspective Of what I've been telling you.

So hold on let's get moving here. 

Exploring a Million Dollar Home in Silicon Valley

What do you get for a million dollars? Eden Ave, 95117. This is not my listing. It is a three bedroom, two bath. And I want to say this is closer to Campbell,

1, 000 square feet built in 1966. This is what you get for a million dollars in Silicon Valley today. It's a nice looking house for the size. It's pretty small, you get what you get. Newer cabinets. Newer floor,

nice paint. This looks like it could have been a flip job, but I don't think so. Oh yeah, you can totally tell it's a flip. No backyard.

All right, so there you go. 1 million dollars, 1523 Eden. If you're looking for something, there you go. That's a great buy for you. Probably going to sell for a little bit more than that, just so you know. Just one day and here's where it is exactly to put in perspective. Campbell is right here, San Jose floats in this so you can walk to downtown.

You can also walk to

Santana row and we should call it Valley Fair. There you go. 

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The Fall of Sam Bankman Freed and His Real Estate Empire

Sam Bankman Fried. 222 million Bahama real estate empire is about to hit the market as he is sentenced to 25 years for FTX fraud. This criminal has screwed over so many people. He gets what he deserves. But at the end of the day,

Vacation home, parents remains in limbo. Look at this. 38 properties in the Bahamas, almost 200 million.

Couldn't happen to a nicer person. 

Inventory And Supply Charts


Deep Dive into Santa Clara County's Real Estate Market

So I spent some extra time juggling numbers a little bit, just to put it more into perspective. And the reason why I did that is because I wanted to show you a graphics of comparison from inventory, but also how many units are for sale. In certain areas. So each County and down to the city, I'll make this later on, but just real quick, I took out Los Altos Hills cause I felt it was an outlier really didn't help with the visualization.
So Los Altos is a lot higher, smaller numbers of inventory takes a lot longer because they're multimillion dollar homes to sell there. These are, that's here in the city, I. Took out some information and redid it so that it's a little more conducive to real time information.
So all these numbers here you see in March are real time now, a couple of days from now, it's going to end, but just so you know. Our month supply are doing really well outside of high cost areas like Napa, it takes a little bit longer to sell, but that's a great place to go get a deal. This is San Benito County and it takes a little bit longer to sell than the average home in Santa, like compared to Santa Clara County. Now I want it also to show you, Oh, see, look at that. Make this bigger for you real quick. This guy right here, I took Santa Clara County months of inventory against the active number of sales. Now this was the outlier, right? And anything over those numbers are a little bit too much, but just to point out the fact that we have such a low amount of inventory right now, 

we need about be about 2000. Units for sale at any given time, 2000 units. I know it's not great. I wish I could make these lines bigger. I'll figure that out, but just to put it in perspective, we have 775 right now. We need to be at this line right here in order to have it a balanced market, not a buyer's market or a seller's market, but a good healthy market.

And if you've seen, we haven't seen that in the past 10 years. That's why prices continue to go up. It doesn't matter the rate demand here in Santa Clara County is going to continue to be high pressure. Even though we have people moving out of California, there's still people moving to Santa Clara County, to Silicon Valley, San Mateo County Alameda County and San Benito County, 

so many high paying jobs that this probably, even if the market does crash across the United States, we're going to see numbers go down a little bit, but not on the whole for Santa Clara County, because there's just so much demand. And I've spoken about this before where anything on this side of 17 or 85 tends to go down a lot more than anything on the west side of 17 or 85.

So that's really our dividing line for the county. I want to say it's really 17, but there's some outlying cities and areas like Willow Glen and Almaden and Los Gatos as a city that will continue to do well because they're high demand areas. San Jose On the west side of 17, or I'm sorry, on the east side of 17 tend to drop more than houses on the west side.

Just keep that in mind. So if you're purchasing a house for value and wanting to watch it grow through a long time on the west side of 17. But again, we're here are our inventory super low. That's just the way it is. And that's not going to go away. Not anytime soon, Santa Clara County cities are the same thing.
Now, you'll see houses take longer to sell in certain cities. Like Monte Sereno and San Martin and Los Gatos, cause they're higher. But again, four months supply versus the inventory, the normal it's mostly because the numbers of houses there are smaller and there are a lot more expensive.

So if you go to Monte Sereno, there's only eight houses for sale. Let me see how many average we about seven and a half, eight houses for sale in Monticello Reno at any given time. Same thing with Los Altos 23. San Martin 4. 2 houses. It's a small little tiny city.

So people don't tend to think, Oh, I'm going to move to San Martin. They just happen to find it there. So there you go. 

Conclusion: The State of Silicon Valley Real Estate

Today we talked about what you get for a million dollars in Silicon Valley. Aida, my God, I tell you, it's one of the best things I've seen in a long time, Sam Bankman Freed is selling off all his assets because he's not going to need it for the next 20 years and inventory versus months supply.

We need to put more houses on the market. I don't think that's going to go up anytime soon.


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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