County Housing Authority Reports a jaw-dropping $16.2 million loss

 



Government Mismanagement and Financial Losses

County Housing Authority Reports a jaw-dropping $16.2 million loss

 While we're busy yelling and screaming at each other about who the presidential candidate is going to be it matters. Our glorious Santa Clara County housing authority lost 16. 2 million dollars. I often say it's not the politicians that matter. It's the government that manages everything because who you vote for is a temporary thing. Whoever's in office is a temporary thing. It's the County, the state, and the city jurisdictions that make up a massive amount of what affects you the most, 


Now, the grand jury in Santa Clara County went over the sale of this building. A few years ago,  the housing authority Bought this for 30-something million dollars. And because they couldn't get their act together, they had to turn around and sell it and they lost 16. 2 million. How did they do it?


Lack of responsibility, pointing fingers. They know they can get away with it. They have no idea what they're doing with this money. It goes back to what's going on with measure E. That's a city thing, but there's no plan on measure E, Every house sold in San Jose, over 2 million has three or four times the transfer tax.


In it, that's supposed to go to words, housing, affordability, and homelessness. And where are the reports? What good things has that money brought to our city? It's the same thing here. They have no idea what's going on. They have no real goals set to get this stuff done. They're just throwing money away, hand over fist, because they have no idea what they're doing.


It's a sad thing. 16. 2 million loss. How many homes could we put? How many people can we put into tiny homes or into housing? If you want to learn more about it, very disgusted about this, but it's normal. If I think it's true.


To what's going on in our government from the city all the way up to the federal government There's just a lack of accountability over taxation Yeah, I don't know. What do you think? Let me know what you think. Okay. 


Cupertino House of the Week

Cupertino Home of the Week

Cupertino house of the week. Not my listing. Rosario Drive, four bedroom, three bath built in 1972, 2200 square feet, 3.


6 million. Crazy, right? Nice looking house, but it is dated. They're going to get it 3. 6 million. This just came on the market.


This is like the same layout. As a couple of houses, I have coming up on the market, it's crazy. And we're going to struggle getting 1. 6 down here in South San Jose. Because of Measure E, I think. That's my thought. Now, Mona Vista environment. It's next to Kennedy Middle School and Mona Vista And De Anza's right here.


So yeah, nice looking house, 3. 6 million. 


San Jose Real Estate Insights

Willow Glen Home of the Week

This one is in San Jose. It's a nice classic. This is Willow Glen house of the week, 2. 150. And I'll explain this to you in a minute. Let me take a look real quick.


If you sell a house in Santa Clara County, it's the seller pays the County, meaning you pay escrow charges, title fees, and documentary transfer tax for the County. Which is 1. 10 per thousand or 50, and that's split 50, 50, but in San Jose, let me bring this up for you here.


San Jose is 0. 75 or 7. 50 per thousand dollars, anything over 2 million. If it's below 2 million, it's 1. 10 per thousand dollars. Crazy, right? Where does that money go? I haven't seen it. So yeah, Willow Glen House of the Week. Let's take a quick look at this. Beautiful house. Not my listing. And by the way, it's not everything over 2, 000, 000.


It goes all the way back to 1. 00. So they'll be paying 7. 50 per 1, 000 on 2, 100, 000, not the 150, 000.


Wow, that is historical. Not my cup of tea, but it's a beautiful house, kind of Winchester mystery house era, Victorian, nice. Looks like they have HVAC in it. Nice. 


Luxury Home of the Week

Luxury Home of the Week

This is in Los Altos Hills, almost 40 million. Not my listing. Five bedrooms, seven and five half baths. Wow. Five half baths. Nearly 21, 000 square feet built in 2010 I


Probably would have started with a medium-high drone shot and all those outside pictures should be in the back.


I'm not going to go through all 78. If you want to take a look the link is in my blog. All right. 


Bay Area Real Estate Market Overview

YTD SALES 12 Bay Area Counties

If you're considering selling your house, download this home inspection checklist. Does not replace a proper professional home inspection, but it gets you started with things. And here are the 12 County Bay area, year to date sales Alameda.

If you look at Alameda, it's the top dog in the number of listings. So something's happening in Alameda and sales are doing really well. The number in the contract is really close to Contra Costa and that's right. Third place to Santa Clara County.


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


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

Fraud, Jason Walter, Homebuyer workshop, Bay Area housing stats, Veteran Home, best time of the year to buy a house, Bay Area Luxury homes, next housing crash prediction, housing market projections, Should I Buy A House Now Or Wait?, should I buy a house now or wait until 2024, Why You'll Regret Buying A House in 2024, Housing Market 2024: 5 Options If You Regret Buying a Home, when will the housing market crash again


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