• Why pricing your house for sale is important
• Los Gatos Home of the Week
• Silver Tsunami? What an Aging Population Means for California
• Price Reductions

Why pricing your house for sale is important, Silver Tsunami? What an Aging Population Means for California, Los Gatos Home of the Week

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Los Gatos Home of the Week

Exploring Las Gatos House of the Week

 Let's talk about Tuesday. Las Gatos house of the week. Today's Las Gatos house of the week is 77 Broadway. This is not my listing. It's just listed at 3.

8 million. It's a beautiful house built in 1994, four bedroom, four bath, 2, 800 square foot house on a 6, 000 square foot lot. And it looks old and dated, but not inside. We're going to go into it. And this is the reason why I like it because it's super close to downtown. See, that's all downtown right there.

You can just. Stumble there, stumble back, and have a good night. Four bedrooms, four baths. Let's take a look at this guy. It looks like it's a corner lot and I don't know if it has a, so you actually walk to it right from the street right here. This is downtown and there you go. Beautiful house.

Really well done. Completely beautiful. Every aspect of it.

Everything you could want in the house right here and you're walking distance to downtown and my feelings on Main Street USA, right? I love having the option to just walk down to the coffee shop, read the newspaper, and be a little social, and that's what this house gives you. There's your backyard, hardscaped, beautiful house. And the pictures are done really nicely. Professional and I love this right here. You actually get floor plans and understand that these aren't exact measurements. These are done by computers. They're not always exact and there's your two-car garage.

So just take that with a grain of salt, but that's your Tuesday Los Gatos house of the week. 

Silver Tsunami? What an Aging Population Means for California

Navigating the Silver Tsunami: Elder Care and Housing

Silver tsunami. What does that mean? Anything that has to do with your parents, elder care, where they will move. Are they going to stay in place until they pass on or do they need help? How are you going to get help?

The main reason why I'm talking about this is because there is a huge shortage of people who can help these people. There's a gap in employment for caregivers for the elderly. And while we might be seeing 20 an hour for fast food. You're going to see the cost of management here in California, especially that's going to go up as well.

It's just hard to justify having certificates and professionalism and everything when you have caregivers, just expect the cost of that's going to go up, right? 10, 000. Americans turn 65 every day. And as we age, we are more dependent on our society, on our family and our friends to help be available for them.

Whether you're suffering from dementia or Alzheimer's, or you just can't get around anymore, you're going to need people to help you out. My mom was here for a couple of days over Easter. And my dad stayed at home and we brought in a caregiver to just be with them for five hours a day in case something happened with him, right?

He's older. He's walking around on a cane. He's got gout and arthritis and everything you can imagine. So it's just one of those things. As you slow down, as you get older, you will be more dependent on people to help you out and time. So if you're looking at, Creating a business or looking for employment.

This is a great opportunity for you. And it translates really well into housing because the housing that we have for aging citizens, is impacted to use a term from the university. It's very hard to find placement for people. With any kind of ailments, whether it's dementia or what have you, I'm helping somebody sell their house for a parent who has dementia and they're putting her into a home and it's just part of life, right?

This is the next huge wave of opportunity for people to create businesses and places for people to stay, whether it's long-term, a daycare, or a meet-at-home type of care provider. So maybe something for you to think about.

And I got this from caregiver California. org. It's a great place for you to go to if you have issues with your parents or if you're older and you're looking for help, go here. There's also no event. org. They have an aging population. Place our links to go get help as well.

Why pricing your house for sale is important

The Importance of Pricing in Real Estate

Why pricing is important. This is on Harwell. I sold a house right here, actually two houses a couple of years back here in this area right here. And this house is a four bedroom, three bath, almost 2000 square foot house. And it's 39 years old on the market for 105 days. They only dropped it 20, 000. And everything about this house is great, except for when you consider the fact that this house was bought just in 2022. So for whatever reason, they've bought it and they're moving. I can tell you that the photos should have been done a little bit differently.

I wouldn't have spent so many first pictures in the backyard. That is just a plain old backyard. And by the way, this is Monterey Highway. So your house backs into Monterey Highway, but when you're setting up your house or pictures. You want to do the first couple of pictures of the front and then go right into the house and walk them through the house as you would go, right?

Start to the left, to the right. This one, the kitchen's on the left, so you probably want to start to the left, go into the living room, the kitchen, and then the sleeping quarters, right? not a barren backyard. So there you go. But I can also show you really quickly if you look at comparables, which is important.

This is the subject property right here. It's 2000 square feet. Here's another two that sold within the last year. And they were both listed far below. The list price, is where this guy's listed at right here, right? So this guy's trying to be a market maker. He's trying to sell the house at a premium when the house really doesn't justify a premium.

The front yard has zero curb appeal. The backyard is barren and you're backed up into Monterey Highway, don't take those things into consideration. You're just. Being greedy when you sell a house based on greed and you limit yourself on The possibility of selling that house quickly.

Here's your example, right? And I told you last week that I'm going to start doing this. I'm going to start taking subject properties and show you why these houses are not selling. This one right here is overpriced by a hundred thousand dollars and it's going to sit and this guy bought this house, I want to say two years ago for 1.

3 million. Overall, it's a great property. But because of the proximity to, let me show you right here, you look at it and this house backs right onto Monterey highway. It's not a bad thing, but also something to note is Monterey highway is also the flight path for San Jose airport, I've sold this property right here and this property right here and I sold it in days. Didn't get 1. 4 for it because it was a couple of years back, but still when you put a house on the market, you have to understand how the market is sold right here in Silicon Valley. We listed them a little bit lower, especially when they're commodity homes.

You can't be a market maker, right? We have other houses that are 20, million and those are sold a little bit differently. Enough said.

Price Reductions

Market Analysis: Highs and Lows in Property Sales

This is highs and lows. And today we're going to look at the highs and lows. The highest was 5. 6. The lowest was 665, 000 the sales price ratio was also 137 percent and the lowest list price was 51. So let's go take a look at this real quick.

This is the highest list price sold for over 17 days because they put it on the market and listed it lower than what the anticipated price would be. They sold it quickly, right? And this is the lowest home sold. This is a complete shack, completely burnt out.

Wow. Look, I just sold a house like this. Look at that.

That's crazy. So it was abandoned, left behind, mold, fire, you name it. Here you go. So for 665, 000 sold 14 days. We're easy. This is the highest list price to sales price ratio listed at 1. 2. So for 1. 6 and seven days, right? Okay. And look, this is not the best-looking house that needs work, but you list it low, attract the market, you bring buyers, you get multiple offers and it's sold quickly. Probably had 15, or 20 different offers on it.

There's linoleum peeling off, water damage, the whole nine yards. But still. You don't have to have a house sold for the highest price. If that's not what you want to do, I have different opportunities, different levels of service that I offer when I go to market and I sit down with my sellers and I say, here's what we can do.

We can sell it as if this one was sold as is right. A quick look at it. If this house is completely turnkey, it probably would have sold for 1. 7, 1. 8, but then you have to put money into it. You have time, energy, dust, delays, et cetera. So there you go. This one was the lowest list price to sales price ratio, which was 51%,

right? Oh, my house is worth 3. 5. I'm going to wait for the market to come to me. First of all, you're up in the mountains at your house. I don't know. Yeah. Okay. You have 87 acres, but that doesn't justify three and a half million dollars, especially if it's not livable, right? We'll go look at the pictures real quick.

So you can see, it's probably the crust of the hill right there and you're on a hill. So it's probably not really usable. And how are you going to get to that? There are no roads. There are back roads. I'm sure. But it doesn't really show it.

So then you look at the house, nice little house. It's a two-bedroom, one-bath, 1, 100 square feet.

This house isn't worth 3. 5. They finally dropped it down to two, 2 million

and somebody got it, took it for 1. 8. So there you go. Don't be a market maker. Attract the market. It's the easiest way to sell a house. This one's sold off the market. They listed up 1. 5 I don't think I'm a big fan of zero days on the market for sale coming soon because you really don't attract the market. And this is the highest house for sale in Santa Clara County right now.

It has six bedrooms, six and a half baths, 8, 500 square feet on a full acre and it's 12 years old. It's Los Altos Hills and it's a gorgeous house. Look at this. I

mean, just purely opulent.

This house is going to sell fast, beautiful house. It's 525, 000 has been on the market for 48 days and it's right off Santa Clara Street. So one bedroom, one bath, 700 square feet, 64 years old. And can't believe you get virtually staged. Yeah, we saw this one last week. They just, they actually lower the price 25, 000. So there you go. All right. 

Concluding Thoughts on Real Estate Strategies

So today we talked about Oscar's house of the week, Silver Tsunami. There's a job opportunities out there galore. Why pricing your house is important. 

You're not going to be able to sell that house. If you're trying to market that house, you're in. When you come to me and say, Oh, I won't be, I'll be patient. I'm I'll wait for the right buyer to come around. You're taking away from our ability to negotiate for you to get the highest and best for you. There's, you're never going to get the price you expect when you go higher.

When you go low, you bring in the market. You bring buyers, you bring offers, and then you have the temp. You can control the tempo. You control negotiation, you control terms, and you're always going to be pleasantly surprised about the price. So just remember that. Thanks for watching. I'm Vito with Avatano. We'll see you out there.

VitoScarnecchia 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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