Is your house in a FIRE ZONE? Tuesday Hi's and Low's

 



Introduction: Is Your House in a Fire Zone?


 Is your house in a fire zone? That, along with List Price Productions, Los Gatos House of the Week, and Highs and Lows of Santa Clara County. Let's get moving 


Understanding Fire Zones in California

Is your house in a FIRE ZONE?

All right, is your house in a fire zone? Obviously red means bad, but if you look, most of California is in a fire zone Just in the areas where there's a lot of residential the Berkeley Hills the Oakland Berkeley Hills, And then over here. Those are the severe areas. How do you know if your house is in a fire zone? You go to this fire map Set by Cal Fire, and then you plug in your address right here.

Los Gatos Home of the Week

Boom. And I have one right here for you to look at Euclid, not my listing. We're going to look at that. That's the Los Gatos home of the week and we plug it in and. zooms right into the severely high fire zone. Why is this important? Why am I talking about it? If you haven't lived in California in the last 10 years, you realize that California has had massive amounts of fire storms, fire, fire storms basically.


We lost property here in the last couple of years. And up in Chico, there's a fire going on right now. Where's Chico? I think it's right here, in Amador County. If your house is in a severely high fire zone or even in the yellow or pink zone, your insurance is going to be crazy high.


I had a house we were looking at in Gilroy. my clients were looking to buy in there. Mind you, these maps, this is just from the fire map for California, Cal Fire. Every insurance carrier has a different map. what they say goes based on their needs and risk tolerance, Yeah, we went to put an offer on a house in the yellow zone. in Gilroy. and no insurance carrier would take it. So that means you have to go to the fair plan, which is a California-sponsored insurance program, which is basically three or four times more I've owned my house for 20 years, so I don't know what it is right now. even if it's 2, 400 a year, 200 a month, it went up to 4, 900. That's just the structure. not everything inside. So on top of that, you have to have insurance for everything inside too.


if you're buying a house, this might be one of the things you want to look at before you make an offer because yeah, and granted this will be in the natural hazard disclosures as well, but this is just a nice little sump check for you. When I go through and I'm looking at houses for my client, I go here and I take a look at the address on here.


And I say, it's in the high fire zone or not. And I don't care if it's moderately high or Very high. If it's anywhere near that, I just say it, I put a little mark in the high fire zone just so we can move on from that one because they don't want to pay that insurance.


What happens if you're selling your house and you're now in a high-fire zone? that's going to be a detriment or something that will slow down the sale of your house to something you have to deal with. You bought that house. Probably knowing it was in a high-fire zone. And at that time they probably did not have massive insurance issues.


So what are you going to do? You're just going to have to sell it and take what you get. unfortunately, that's just a fact of life right now until this insurance issue gets handled.


You're stuck between a rock and a hard spot. Either keep paying the insurance or sell it, take your losses, and go. I think something's going to change in the next couple of years. Can't promise you that though because I don't have a crystal ball, neat state regulations on this on how to make The fare plan and fire insurance a lot more costly because it's just getting out of hand and this isn't the only state that's having this issue.


Florida has the same issue with hurricanes. I heard somewhere where a hurricane area Like Fort Myers, Cape Coral, which is on the West coast of Florida. If you have a house there, hurricane insurance, and flood insurance cost 10, 000 a year. I was thinking maybe eventually I'll move out to Florida, but not right now.


On top of that, they have HOA issues and. they're messed up right now. So yeah, that sucks, but I just thought I'd let you have an idea of one more thing to think about when you're buying a house. If you're thinking about selling your house, this doesn't tell you to go look at that. I will adjust that. 


Navigating Home Inspections

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

But, the home inspection checklist, allows you to go through each part of your house, landscaping, exterior, housing, and structure, And see what's wrong with your house. No house is ever perfect. Plugs burn out, and switches don't work. The lights don't work. Appliances stop working or have issues. This just lets you get through the main things that an inspector would look at and you can fix them before you bring in the inspector and the inspector can come in and give you a nice clean report.


I also recommend it. You disclose everything that you have ever done materially if you change out a switch if you put new windows in whatever disclose just save yourself a whole lot of time we'll get into that later. 


Current Market Trends and Price Reductions

Price Reductions

Price reductions. We've had 200 price reductions, which is down from last week And our inventory is down from last week as well.


all of these houses have been on the market for 10, 15, 40, and 90 days, and they're looking to sell What were they trying to do? They were trying to attract the market. Let's look at Waterford built in 2001. the first picture should be the house, 50 days on market two car garage, 222 a month. Here's the thing. 

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




HOAs and Their Impact on Home Value

Santa Clara County High's and Low's

HOAs are going to lower the value of your home, period. Because there's management, there's things you have to get, ask for permission to do, you have to ask for permission to paint your house. You have to ask for permission to change your windows. not every HOA is like that, but HOAs are a pain in the ass.


And then you also have very intrusive people that are on the board, that are a pain in the butt, and I just stay away from HOAs altogether. I'm not a big fan of them. There are pluses and minuses to them. Sometimes they take care of the landscaping. Sometimes they take care of the streets, et cetera, but HOAs are just, they're not well-regulated 


This is a standard three bedroom, two and a half bath, 1400 square feet. built in 2001. It's a nice-looking house. But yeah, no, thank you. Not interested. Euclid. We talked about this in the fire zone. Okay. 2. 8 million. So technically if you buy a house, that's 1, 900 square feet, you're probably looking at something around, five, six, 7, 000 a year for fire insurance.


It might even be more. I'm not quoting you because I'm not an insurance guy, Go to an insurance broker, and figure out what they can offer you. That's what it's going to be. Do your homework before you put an offer on a house.


I was going to do it. Then I ran out of time, the lowest sale price was 868. The highest sole price is 600 let me see if I can put that up for you real quick.


Seal Avenue, 600, 6 million. for one point, almost 2 percent over the list price. this is in Palo Alto. Not my listing.


The nice-looking house looks almost brand new. built-in 2016, not flipped, brand new. this one is right against the freeway in San Jose It's an attached house. You can tell because. See, look, there's two, this isn't a four-card garage. It took 97 days to sell.


The original list price was nine 10. They bought it for 868, 000. You can't tell me that you won't be hearing freeway noise from this. On top of that, it's an attached house. It's basically a duplex. And is there an HOA? Yep. HOA, 300 a month. I'm not a huge fan of these things.


September 3rd, 119 closes, which is far down from the last couple of weeks, but we also had a holiday week, slow things down there and we also have a drop in inventory as well as the price reductions. We're down to 12 percent instead of the last couple of weeks. We are also close to 20%. So things are shifting.


does this mean we have fewer homes for sale? No, I think we're seeing more Homes pick up. So we're going to see this number drop. We're going to see this one go up.  


Conclusion and Final Thoughts


I'm Vito with Abitano. Thanks for watching. 


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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