assessor report shows decline in property value

 

Introduction: Top 10 Counties in Foreclosure Market

assessor report shows a decline in property value

 Top 10 counties within the foreclosure market. There's always going to be a top 10. Santa Clara County shows housing value decline and then the stress property of the week apple house of the week and. Mountain view home of the week. let's get going here. 


Analyzing Foreclosure Rates in July


Top 10 counties with the highest foreclosure rates in July.

10 Counties with Highest Foreclosure Rates in July 2024

they're all over the country. There's always going to be the top 10 something, but it's more just to catch your eyeballs than anything. 

California's Real Estate Market Insights

REO of the Week

California, we have 370 REOs right now. Bank-owned properties, real estate owned.

Bank-owned is just not everybody that's doing any kind of stuff to get your attention. It's because it's going up micro percent. we don't have a foreclosure market yet, or I don't know if it's even going to happen, but it's inflammatory and it's funny to see all this stuff, shame on you, Silicon Valley Business Journal.


I know this is just to catch eyeballs. It's ridiculous. 

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Silicon Valley Property Value Trends


Oh, the assessor says Silicon Valley properties drop in value. Yeah. Do you know why? Because we just got an all-time high, just like the stock market goes up and it goes down. It's not that we're over 2 million median prices across Santa Clara County for single-family homes.

So naturally it's going to take a breather, especially during the summer. And I'm going to prove it to you in just a second. It's ridiculous. 180 total homes. captured by the banks all across the United States. across California, we had thousands pouring over like a flood and we have 180 distressed properties or real estate.


They're distressed. It's also, short sales or what have you. look in Silicon Valley, there's nothing in Santa Clara County. There's nothing. So we have nothing going on at foreclosures. If you're thinking about selling your house, drop that, checklist, and then I'll help you sell your house. 


Apple House of the Week

Homes for sale near Apple

Apple house of the week, 2. 5 million. Is this the Apple one? I believe so.

Long spur. Yep. This is around Apple. Not my listing. 2. 6 million, three bedroom, two bath for 2. 6 million. It's a reality whether you like it or not, 1, 284 square feet built in 1959. It's all redone. It's a standard house of 1300 square feet. It's almost 2, 000 per square foot. Crazy when you think about it, but you want to live next to Apple. Walk to school, walk to work. There you go. 


Mountain View Home of the Week

Mountain View home of the week

Mountain View, home of the week. This one is right here. And this one even perplexes me more.

 1500 square feet, four bedrooms. I want to back this up, but I want to take a look at this one real quick. 1542 square feet built in 1952 looks old and ragged. It looks like a mountain house. 2. 7 million. Here we go. looking at all these prices here, right?


2. 5 million. And it's an okay-looking house. It's got a little bit of store history there and horn, which actually hasn't sold. We talked about that one already, but look at this one, 3. 2 million, 3. 2 million. And Oh, by the way, right back up against 85, three bedrooms, two baths, 2, 500 square feet.


You're going to get a lot of traffic noise and that's going to boggle the crap out of you. It will. Annoy the crap out of you and I wouldn't pay for that. In case you're wondering why I'm a little saucy today, I sleep sucks the last couple of days. So there you go. 

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Current Housing Market Challenges

We have over 200 houses that have not sold in over 40 days. Same thing with 90 days. Same thing with bank-owned properties. our numbers are not jumping up. They're not scaling up to thousands and that's nothing to worry about.


We have 483 homes for sale right now in San Jose. We don't have enough. Supply. Same thing in Santa Clara County. We don't have enough supply. We need to be about 2000 in that. When I say 2000, it could be 1800 to 2200. That's what I'm saying. I'm rounding very loosely, but we're so far away from that we're at a deficit in inventory.


All right. So there you go. 


Conclusion and Final Thoughts


I'm Vito with Abitano. Thanks for watching. Have a great day. 

Vito Scarnecchia Real Estate Broker, Veteran, Dad DRE#: 01407676 We’re Hiring! 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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