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Farmers to write more California home insurance policies ahead of planned reforms

Introduction and Insurance Reform Concerns

Okay. Farmer's Insurance said that they're going to write more home insurance programs or policies ahead of planned reforms. This is last year, December. I think I talked about this already, but guys, this needs to be done. Why is it not? Why is the state not taking care of this? Why aren't we talking about insurance reform right now?


I haven't seen a damn thing about insurance reform. I have people that want to buy houses and they can't afford it because the insurance is too high. I have people who have backed out of contracts because the insurance is too high. It's ridiculous. I get it. I understand these insurance companies are here to make a profit, but they're making.


Record profit, and they're claiming that there's a ton of loss. They're being picky about all the different places that they can. They can write policies in California, Texas, and Florida. I get it. Hurricanes and hail and fire storms. I get it. We should be doing our own thing. If you own a house, you can fi protect your fire, but the state and the local government have to take some responsibility for this and make sure that they're not overbuilding in areas with potential high fire zones.


And if you're an individual homeowner, you have to protect your home, period. So there's gotta be an easier way to do this. Let's see what happens. I. I'd like to see the state talk about insurance reform. 




Cupertino Home of the Week 

Cupertino House of the Week

Cupertino House of the Week. This is brand new on the market, not my listing. Crescent Court. $5 million for a five bedroom house on a quarter acre lot, almost 4,000 square feet, built in 2009, and it's right here down in the below area.


This is, deep. Creek Deep. It's a golf course right here. I can't remember it, but there you go. That's where it is. And the space, the saucer is right here. My brain is not working today. So that's what it looks like inside for 5 million bucks. Thank you for putting together a floor plan. Nice pool. This is gorgeous.



Willow Glen Home of the Week 

Willow Glen House of the Week

All right, Willow Glen, house of the week, Newport Ave, $5.2 million. San Jose, which is, they're gonna be paying the Measure E transfer tax, 3,500 square feet. Six bedroom, five bath, built in 1900. Maybe we looked at this one already.

I don't think you need to have 15 pictures. Yeah, we looked at this one already. This is a nice looking house.

Okay. 




Luxury Home of the Week 

Luxury Home of the Week

And then Luxury Home of the Week. Meadow Lane is not my listing. Portola Valley, $85 million, six-bedroom, 11 and two half baths. 12,000 square feet built in 2021. Yep. Be your Pan of California Fair plan on this one too. Portola Valley. Let's take a look inside. 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 14. Pictures of the outside before you get inside. Yeah, this is gorgeous.


Wow. This is just, everything is opulent here. It's gorgeous. I wonder if they have, doesn't look like they have a walkthrough. 





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

Home Inspection Checklist Tips

This episode was brought to you by the home inspection checklist. If you're thinking about selling your house, get your honey do list done. I had my handyman over this weekend just to fix some odds and ends, but it was just a reminder, get your stuff fixed before you put your house on market.


It is simple stuff to do. You could do it yourself or call me. I'll get you a handyman or painter or a plumber or a painter, a landscaper. Just get stuff done. There you go. That's what it looks like. 






Bay Area Sales Report

And here is this week's 12 Bay Area sales report. I notice that we have 1,282 sales so far this week we're at $3.1 billion in sales.

That's crazy. The average price is $2.4 million and1.08 or 1 million or 108% over the list price. On average, yeah, you can still get deals. There are still houses that sell 90 days off on the market. That means they're overpriced for the condition and the locality. But there, for the most part, houses are selling very quickly in 18 days. 18 days used to be seven, back when it was 2%, but now we're, 6%, 7%, 18 days there's no demand.


There's no drop in, in sales here, the only reason why we're seeing lower numbers is because there's lack of inventory. So you know, 1600 homes in contract, year to date, two hundreds in contract last week alone, we have two and a half months of inventory. It's the lowest in the entire Bay Area.


You look at Napa with 10 months of inventory. That's dropping down. Now, these are not averages. I'll get averages after a couple months, but for the most part, we're still very much under the six month mark for making it a buyer's market. So these numbers are, these numbers fluctuate every week because it's just one of those things where you're gonna have to see end of month results, which is next week, and you'll see a chart eventually all.


Conclusion and Sign-Off


That's it for now. Thanks for watching. I'm Vito with Abano. We'll see you out there.


Please like, and share! FREE HOME BUYER CHECKLIST HERE https://abitanogroup.com/Homebuyerchecklist


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


Vito Scarnecchia

Real Estate Broker, Veteran, Dad

DRE#: 01407676

408-705-6817

Vito@abitano.com

Update your home value: https://hmbt.co/bT7qRJ      

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!


🔴 Willow Glen's five most expensive homes https://youtu.be/3A_E2ck0ePg



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