Rates Surge again | Inflation anxiety seen dampening appetite for credit






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Inflation anxiety is seen dampening the appetite for credit
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Mortgage Rate Shock
The biggest fear for me ever is being on stage and tripping or falling, so I feel bad for that lady. It's horrible. But hey, look, you wanna talk about something shocking, let's look at this. Let's look at this right here. 6.83% for a 30-year jumbo. That's shocking. That is... That's embarrassing. Poor thing. Yeah, I just, I, I don't know.

I don't know what to tell you. Rates are just c- they're not going down. What are you gonna do? You're just gonna have to wait, and then we just pull back and see what happens. 

Should You Sell Now

Hey, look, if you do need to sell, houses are selling. Just not a huge take. It's not a firestorm like it was six years ago. Things change, right? Things will change. The inevitability of anything ever staying the same is nil, statistically speaking, and that means change.

Is this a g- good time to sell? Not if you're looking for top dollar, but if you do need to sell, i.e., your parents need to move into a retirement community, a memory care s- pla- place where they can be watched,d we have programs for that. Nine times out of ten, I convince you to wait for certain reasons to not sell, get your house ready to sell, et cetera, et cetera, and there are reasons for that.

W- we could talk a little bit more about that later

Okay. If you're interested in learning more, let me know. I'm here to talk to you about that. 

Listing SEO With Homescom
I wanna talk to you about this homes.com. It's one of my listings, and the reason why it's important to go through and regurgitate why this is important is that this helps you with search, right? SEO being what it is, GEO and AIEU, AIUE

AI search engine optimization, that kind of stuff. It helps so that when you have stories to talk about, it brings it to this website, which is the home's website, right? So we talk about the neighborhood, we talk about schools. I'm not allowed to talk about schools. I'm not allowed to tell you which schools that house goes to.

I'm not allowed to tell you if it's a great neighborhood or a bad neighborhood. But since this is not my website, it helps me tell you a little bit more about what's going on. And yes, they can talk about great schools, they can talk about all that other stuff. They can talk about parks, they can talk about transit, they can talk about environmental facts, all these different little facts about this area.

So when you're buying into this area, you get to know a little bit more about it, right? You get to see photos and cool things like that. Every little photo helps. That looks like one of the houses I'm selling right there. So here, it's just a nice-- is it a need, need to have? No, absolutely not.

But here's the thing, it allows you to get to see a little bit more about it as a buyer, but also when it comes to search, you get to see the different parts about it. You get to see also... and you get to see my competition as well. The whole point is it really homes in on and promotes your home that's for sale,e and allows buyers to go in and learn more about it.

Yes, they have this little lead gen thing. Typically, ly what I get out of that are people who are interested in learning if I would do business with them, like by advertising, et cetera, or whatever. It sits, a pain, but it is what it is. You have to flat through that. I don't see it as lead gen.

I see this as a value add to selling your home. Okay? Let's see. 







Inflation Anxiety And Credit
Oh, this is a good one. Inflation anxiety seems to be dampening the appetite for credit. Why is this important? Less credit. If you're walking away from spending money or needing to spend on things, you're looking at other ways of tightening your belt, right?

On the whole, America is starting to tighten its belt, right? Whether you like Trump or not, whether you like the Democratic or Republican parties or not, it doesn't matter. The fact is, we're going through an economic shift, and right now, more and more Americans are having to tighten their belt and not waste money on certain spending habits.

So just keep that in mind. What we're seeing is just a little bit of a regression right now. I don't think we're going to go into a full spin, but some people are saying that the Iran war is a reason to keep our GDP up and moving because there's nothing else much going on outside of this promise of AI, because solar's kind of a drudge match, right?
There are a lot of things that are happening. And, for people who have everybody on the west side of eighty-seven, they're not really worried about it. It's the people on the east side of eighty-seven that are working every day, and they're hoping and praying that nothing bad happens.

So against the backdrop of ongoing pressure from inflation and higher everyday expenses such as filling up their gas, food, and everything, it just-- it drives pessimism on the side, right? Thirty percent of survey respondents said job displacement may be a negative long-term impact for A-AI. So all sorts of different things are happening.

Just something to keep an eye out for things, right? Okay. 








One Million Dollar Home Tour
What do you get for a million dollars in Santa Clara County? This is May Ellen Avenue, and this is in the Buena Vista or Burbank area, right? That's Belly Fair and s- Santana Road right there. It's a nice older home. It's a great community.

I've sold many homes in this area. I used to live in this area when I was a kid, and this is a sixteen-hundred-square-foot, three-bedroom, two-bath, over a hundred years old, hundred and sixty years old. So looks like it was remodeled back in the early 2000s. I would scrape that paint and paint it spray-- I would, I'd definitely make that brighter pink, like a white or a gray. Get rid of those carpets.

But you know what? For a million bucks, this is a nice carriage house. It's not a craftsman, it's a carriage house. You can tell because this right here, this is the area where you used to walk out and load yourself into the carriage, the horse-drawn, horse-drawn carriage. Yeah. Not a fantastic house. What's... Oh, my God.

Really? You're not allowed to do that. I'm gonna have to report you. And no floor plan. 








Two Million Rose Garden Compare
What you get for 2 million what you get for $2 million in Santa Clara County is Topeka Ave, not my listing. $1.998000. Three bedroom, one and a half bath. 1806 sq ft- square feet. Built in 1948. It's half the age. And this is in the Rose Garden.

If you look at the Rose Garden compared to where Burbank is, right here. The  Rose Garden is right here. It's a $1 million difference. And let's take a look inside.

Somewhat updated. Let's take a look at the kitchen. I think, yeah, nice. Nicely redone. Not gonna complain about it. Yeah, worth it

There you go. I bet this thing's worth more than $2 million. There you go. And thank you for putting a floor plan on. All right, nothing else is going on here. 

Market Shift Final Thoughts
We're still in a seller's market; however, buyers are being more picky. So just remember, don't be arrogant. This isn't 2021 or 2020. The market has shifted.

Rates have gone up, inflation's up, the economy's in a wank. We don't know where we're at. So that's it for now. If you're interested in learning more about what's going on this weekend, I have open house lists and all sorts of stuff on my blog. Thanks for watching. I'm Vito with Abitano.

We'll see you out there.


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Inventory vs Sales




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