SF Apartment Foreclosure

 

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Commercial Property Foreclosures in San Francisco and San Diego

SF Apartment Foreclosure

San Francisco and San Diego are seeing commercial properties in foreclosure. We'll talk about that and Los Gatos, the home of the week, and list price reductions and highs and lows. Downtown San Francisco.

 

Now 63% vacant. They haven't paid a mortgage payment in a year, and it's going to foreclosure. So why does that bother me? 

Impact of Foreclosures on the Economy

San Diego Commercial Building Foreclosure

It's something just to be aware of because it's happening all across the United States, including San Francisco. This is 152 acres, 3,200 units sold at $558,000 per unit, $558,000 per unit.

8 billion loan service. That one's going to hurt a lot of banks and that's something you got to be aware of because why is this hurting us? Because it's all part of the state. This house cards. This was done a couple of years ago. I haven't actually seen a number recently, but the amount of foreclosures that are happening on the commercial side is deafening.

It's going to hurt a lot of people because it will start shaking down. You see a lot of jobless. I think it was like 350, 000 jobs eliminated over the last year from the big tech companies, Intel, et cetera. It's all coming down. So just be aware stuff is going to happen. 

Current Market Conditions and Selling Advice

Is it going to be a good time to sell right now?

Home Inspection CHECKLIST HERE whttps://abitanogroup.com/homeinspectionchecklist

It's a great time to sell in September, October, and November. We don't know what's going to happen. There's going to be a lot of hesitation in the market because of the election as well as what's really going on in the market. So just be aware. 

Los Gatos Home of the Week

Los Gatos Home of the Week

Los Gatos home of the week, Glen Ridge. This is not my listing three bedrooms, two and a half baths, almost 3, 800 square feet built in 2013.

It's a really awesome-looking house. Look at this thing, guys. This is worth every penny. It's hard to believe that this was built in 2013 and it looks like so old world, Every nook and cranny. And if you want to look at it, it's in my blog. Go take a look at my blog. 

Price Reductions in Los Gatos

Price Reductions

This price reduction again in Los Gatos, Creffield two bedroom, one bath, a thousand square feet built in 1936 for almost 2 million.

This is crazy, huh? 2 million for a house. But it's a nice old-world charm. Got a nice little view. If you're interested in looking at any of these, let me know. I'm happy to help you out. 

Home Buyers Checklist

FREE HOME BUYER CHECKLIST HERE https://abitanogroup.com/Homebuyerchecklist

Home buyers checklist. When you're looking at houses, this one will help you get through it. The whole idea behind this was to help you compare and contrast four five, or six homes that you go to over an open house weekend.

Highs and Lows in the Real Estate Market

Santa Clara County High's and Low's

Highs and lows. Newell Road, Palo Alto. Guys, this is a standard 2000-square-foot ranch house sold for 7. 2 million in 18 days. Crazy. I can't show you what it is, but it's three bedrooms, and two baths, nothing great about it other than it's three-quarters of an acre.

So maybe that's what it's worth, but 7 million for a Standard Ranch home. There you go. And then this one right here is 55 plus community. It's 945 square feet sold for almost 700, 000 in Morgan Hill. That's what it's going for. And I think this does come with, an HOA. I'm pretty sure because it's a community.

230 a month for the HOA. And then the highest for sale is still Waverly talked about that again. And the lowest is still Loma Chiquita. Those two are not moving. 

Market Trends and Predictions

August 13th, 163 closes 1, 045 active. 19 percent of them are, have seen price reductions. So are we seeing a price reduction right now?

I think we're going into a market where it's starting to slow. Will it pick up again? Probably this is Silicon Valley and it always is very resilient, but we always see tough times. So that's how life goes. 

Conclusion and Sign-Off

That's it for now. I'm Vito with Abitano. 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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