Are we already in a recession? | Santa Clara County High's and Low's

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Are we already in a recession?
What To Do When Your Home Isn't Selling
PROBATE AND ESTATE SALES
How your Home will be Marketed
Los Gatos Home of the Week 
Santa Clara County Price Reductions 
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​ The sky is falling. The sky is falling, the sky is falling as usual, the sky's falling.

Now, I don't give a crap what side of the aisle these guys pro promote. But it's, I, it's divisive. It's, yes, we knew we were going into a recession. That was part of the promise, right? I know that. I don't think it's the worst that we're going to see. It could be, and I. Quite frankly, I haven't seen it. I've been hoping for a Recession or a downturn in the housing market since 2018, and that just hasn't happened.

That's when we were slotted to 2016 to 2018. 'cause every eight to 10 years we're supposed to have a down cycle. We still haven't done it. And that's why affordability is not in the, works. So there you go. Okay. Recession is coming. Roughly 60% of Americans cannot cover an unexpected. $1,000 expense without borrowing. Not a calamity, not a surprise, a busted transmission.

And I can tell you straight up that transmission replacements do not cost a thousand dollars. They cost about six. Ask me how I know a root canal. Yeah, I get it. 

Rainy Day Savings
It's time to start not living so large and putting away for a rainy day. Living underneath your means. I remember Obama saying that when we're coming out of the 2008 thing, and we were like, Hey, the economy's crashing.

What's going on? and we had the, the housing crisis and what Obama said to calm the nation. Firstly, he turned the spigot off of bank owned property and saying that you can only put out so many so you don't crash the market. Because people still wanna buy houses, even in a downturn market, that's the best time to buy.

But he said, live beneath your means. Short term gain is not help you in the long term. Play out. It can tell you, I know many people that are struggling right now. Has nothing to do with the economy. It has nothing to do with anything. Anything other than they didn't pack away for a rainy day.  Just is what it is. I think it's just.

More economic and crypto and whatever society that still believes in endurance can survive. Con contradiction. 

Displacement And Automation

Oh, it did say something here that I wanted to reply. Reply to AI dis space. Displaced rules do not come back when the economy recovers. They are simply gone permanently retired behind the wall of efficiency gains and margin expansion.

Yes, but we've been doing that since forever. That's what makes America great or better. Yeah. Anyway, in the seventies, the automotive industry was suffering, so they got rid of workers and they put robots in and they far started freaking out. And in the eighties they did the same thing and they moved all the automotive workers, all manufacturing down to Mexico,

The advent of the computer made it harder for artists to make money, but yet they still survive. when TV came around, they said it was going to be the death of radio. And radio is still alive and kicking. It's not as strong as it used to be, but it's still alive and kicking.

And the other thing that we have to think about is, is that when you're a displaced American worker, you're gonna go find something else to do. Unless you have a drinking problem or a drug problem or a depression problem, right? I understand that that's one part of the situation, but I know lots of people that are unemployed right now and they're figuring out what to do next.

It's just part of life. You will be displaced at one time or another. I've been laid off in construction. I've been laid off in the advertising industry. and it sucks. But what I've learned is you need to save, not live large, put away for a rainy day. And unless you're a trust fund baby, or you're making 10 figures a year, you need to put away for a rainy day because there's a good chance if you have a professional job, that you're going to get displaced.

 Think about what's going to happen in the future, right? And understand that companies see you as an employee, as a liability, and that there's gotta be something else for you to do, and your loyalty should be to yourself and to your family before a company. 



Why Housing Holds Up
Are we in a recession? Yeah, probably.

I think we've been in a recession for a long time, but we're still selling houses. why aren't houses collapsing? If you look at all the charts and all the things that I've sent in the past, when there's a recession, when the economy's not doing well, housing does really well because people that have put their money into housing, because housing is housing.

Metals, gold, silver, copper, And now I guess crypto is a way to retain value of your hard earned dollar during inflation times and during down economic turn times. So that's why houses do better. And short-term borrowing, long-term, borrowing, it all comes into play and it just makes it so that buying a house as a rental, buying property as a income source.

All right. If you have an older parent and they're starting to go get a little slower and not being able to take care of their house, let's talk about what we can do before we actually sell your house.

There's a lot of things that we need to do before we sell that house, and it's a lot of education and things to do. My job is to educate you not only on what my job is, but what a lawyer should be doing with you and what a tax person should be doing with you.

And we should all be working in concert to, and not within silos, but together. So to educate you on what your best choices are so you can make the best choices for you and your family and your parents. Okay. So that's really the big message that I have there. 




Los Gatos House Tour
 this is Los Cato's house of the week. It's been on market 24 days.

This is Alexander out, not my listing. $4 million, five bedrooms, four bath, 2,400 square feet, and it has an EDU, so it actually has a 600 square foot, EDU as well. It's been on market for 24 days, and it's a nice little cartage. It's a quarter acre.

Oh, this is a pretty house. I like that brick. I bet it's not real.

Not digging the brick pool. Backyard.

Okay. There you go. Well, thank you for putting out your floor plan. There you go.

And then this is,

what is this?
This is your highs and lows for the week of April 13th.  This one originally listed at $22 million in sulfur, 18.9. So $2 million off took 50 days to sell. Remember, when you're selling houses like this, you're a market maker. you're not a commodity buy. So how houses like this that are unique and large and luxury, you to set the price and be able to hold onto it.

So two months for a house to sell like this. It just needed to find the right buyer to come in and give a good price. And let's take a quick look. See, they went from $22 million down to 19 million or $20 million, and then it went to 18 $19 million. So yeah, when you signal lowering your price shows weakness.

Okay, and this is the lowest sold home in Santa Clara County. It was in Gilroy, and I think this is no 50. No, this is a regular one on sixth Street, which is semi busy. It's not like a crazy busy, but it's a busy street. Three bedroom, two bath, 1500 square feet on a 10th of an acre. Took 22 days to sell. 699 down to 675, so there you go.

And then the lowest, the highest list price to sales price ratio to 1.9 million to 2.8 million. I think that was one 50. 150%. Yeah. It's a standard home on Hawkin. And this is in Cambrian, which is next to Campbell. Los Gatos and Will Little Glen over there. So yeah, these houses are gonna sell for a lot.

Yeah, nice house.
Okay, and then this is the lowest list price to sales price start at 1.2 and it sold for 1.03 and it sold for 85% of list price. And this is Sunny Crest Circle in San Jose, not my listing. Four bedroom, two bath, 1300 square feet, built in 1979 and it's, it looks like it's right on the freeway. Now it's right across the street from the freeway, so you still get freeway noise and you also get freeway dust.
Something you have to consider, right?

I think I sold this floor plan last year. Yeah, I think so. It has a little, there's a little courtyard right there. Yep. Nice. Sold mine for a lot more, but it was also in the Groves Blossom Valley right here. So yeah. Different area. All right.

Wrap Up And Goodbye

That's it for now. Thanks for watching. We'll see you out there.

 
Santa Clara County HHighsand LoLows  5 Cities Near San Jose | Moving to San Jose https://youtu.be/sDkdDq42vo8?t=46  
πŸ”΄ The Five Biggest Turn-Offs For Homeowners 
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Vito Scarnecchia
Real Estate Broker, Veteran, Dad
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408-705-6817
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