🔴[LIVE] 🚨 Foreclosure Rate Going up? Auto Market about to tip. This weeks Hi's and Lo's





 

  • Hi's and Lows


$5000 houses https://www.onereal.com/vito-scarnecchia-1/listings?page_number=0&type=buy&google_place_id=ChIJF3OXpft4I4gRa2gzjgk6hcE&search_label=Flint%2C+MI%2C+USA&sort_by=cheapest&longitude=-83.6874562&latitude=43.0125274&is_house=true


 Did you know that you can buy a house for $5,000? You can! Stay tuned and we'll talk about it. But right now we're going to talk about the three things you need to know about living in Silicon Valley and the highs and lows of Silicon Valley for last week. Repo man returns for more Americans to fall behind.

Car Crisis of 2023: Massive Car Repossessions

The car crisis of 2023 massive car repossessions. The housing market is stuck. Rates inventory, blah, blah, blah. Foreclosure rate. Fred, the Fed is announcing foreclosure rates going up. It's not what you think. All right, let's talk about this.


Let's see. Let's see. Let's see. Inflation is kicking everybody's butt. Most Americans, but if you're not feeling it, it's because you're working in Silicon Valley and you're probably making more than the median price or income, which is like 63, 000 a year. The problem here is that American car manufacturers, car dealers, or what have you, they all got into cahoots and decided they're going to start sticking it to.

The people, not the man and they started selling house cars far above what the market calls for which means that if anything ever happened to the cars the insurance wouldn't cover it. They were charging 750 to a thousand even more for a monthly payment for these basic cars which is far way too unaffordable but they had to because this is the time for people to do it and it's natural for people to be.


And it's just human nature for us to screw each other over. So what's happening is you have cars that are undervalued upside down and people are just walking away. We knew this was going to happen two years ago when people were selling cars for 35, 000 over the list price because they could, there wasn't enough inventory and there was a buzz, and the G Mercedes G wagon was selling for 250, 000 over the list price.


And they could do that because People needed to buy cars and that's what's happening. So now what's happening is they lose, if you lose your job, we can't afford it anymore. You're like, I got to feed my family. I got to pay rent. Screw this car. Repossessions are coming in. And it's happening all over the United States.

The Repo Man Returns as More Americans Fall Behind

Big time. I'm looking for the other article that I had here. I promise I had something here. Let's see the car crisis. There it is. So over 200, 000 cars a month. Are being repossessed. That's crazy. That's just nuts. It's an opportunity with those who you can buy. And I'm looking to buy a car. Why not?

When the market stabilizes, I might make a profit off of it. So just makes sense for me to do that on top of the houses that I'm looking at buying. Combination of high monthly payments, expensive insurance, and increasing car prices. It's easier to take the VTA


This auto situation is getting so bad that even Ford is working on a patent where the vehicles will be able to drive themselves back when people start defaulting Wow, that's crazy so guys It's normal, right? This is the precipice of the market coming down. And if you remember, I've been telling you this about the House of Cards for a very long time.


It's not going to be just the automotive market. It's not going to be the health market. It's not going to be the credit card market. It's going to be the entire economy that comes crashing down because we're on a hat, on a stack, a house of cards that are preventing us from moving forward. Overspending here. Underspending there. Inflation this. Hurting that. Unemployment's kind of going wonky. Misrepresented. Some would say, I don't know what the truth is. The economy's doing great, GDP's doing great, but it's not because of inflation. Just keep an eye out for what's going on. Rates are at 7. 8. They came down a little bit since last week.


Just a little tiny bit same with gas. Just a little tiny bit. Oh, you know what? I didn't do these numbers So let's take a real quick. Look. See if there's something here 128 128 closes versus 95 last week. I don't know what those are Okay. So the last thing we want to talk about is the Fred foreclosure rate Which is right here, guys.

FRED Foreclosure rate https://fred.stlouisfed.org/series/RCMFLBBALDPDPCT30P

It's not going up. I don't know what to tell you. This is still delinquencies, right? This is for cold foreclosures. Tomorrow you come back and take a look at the numbers here where we can talk about the actual REOs, which is not just 90 days out behind, but it's. Really six months to a year behind so my numbers are real-time But this is what's going on in the market


Are foreclosures coming?

possibly, but I don't think we're gonna see that big stack of Foreclosures that we saw in 2008 don't count on that. Don't bank your times on that if it happens great Jump on it, but I don't think people only 60 percent of the houses out there have a mortgage on it And of that, I want to say 75 percent about 65 75 percent Have rates under two and a two and a half three percent.


So why would anybody ever walk away from that? Those are historically low rates not gonna see that again in your lifetime more than likely. So Why would you let that go to foreclosure? You wouldn't not unless you died or massive tragedy or, and that's such a low percentage. And these numbers right here, they track to be, this is 12%, right?


They were literally around on average about 5 percent of the houses that had mortgages on them, right? So again, 60 percent of the mortgages, we have about 300 million or 100 million homes out there. So 5 percent of that over a spread of time is. That's what occurred here when there were 5%.


We're not going to see anything more than one or 2%. That's what the numbers are saying. So there you go. Okay. This house, this episode is brought to you by no event. If you know a veteran and they have issues, whatever it might be, drug, or substance abuse. Depression, mental struggles, joblessness, income issues, whatever.


Send them over to know a vet and they can, there's a place, the self-help portal, if they still need help, they can get a champion. It's a great little program, helping hundreds of veterans. We want to make it tens of thousands of veterans. So let the word. Let everybody know about this, please. Gas again is 45, but let's take a quick look and see where the lowest is here in our area.


559. Holy moly. 499. 489.


Highs and Low's. 

Oh, wait. Yeah, we'll go to that in a second. High's and Low's in Santa Clara County. This is a leash away. It just closed this month. 54 days on the market. 5 bedroom. 4 and a half bedrooms. Bathrooms, 3850 square feet, 16 quarter third to almost 0. 4, four-tenths of, an acre big built in 2015.


I think it was rebuilt original list price 3. 7 0. 4 final sales price 6. 9 93%. Was it 93 percent 93? 3%? Yeah. Really pretty ranch. I love the landscaping in this. I love that the whole entryway is all very hardcore wood. I have the same kind of wood on the front of my house.


Nice looking kitchen. You're going to see some of these pictures. I think the photographer went a little artsy like this. Come on, really? You should have focused more on The shadows instead of your angles. Okay. Nice. It's nice looking. It's a nice-looking house, right?


There you go. All right, let's take a look at the lowest on Soda Springs Road.


It's almost like they darkened everything out there. I don't know why they would do that. That's silly. This is a cabin. Look at this. This is in a pinch that could be your guest bedroom right there.


This is a really tiny house guys. This is like a little cabin, but it has a wet bar. There you go. Got to have that. 861 square feet, two bedrooms, two baths, a third of an acre or almost an acre. 113 years old. Listed for 699 on the market for 39 days. Sold for 675. All right, this highest list price to sales price ratio Flannery Street in Santa Clara Somebody obviously underpriced it sold in nine days three bedroom two bath 1100 square feet built in 1955 It went for what was it?


26 over list price awesome job guys That's how you sell a house right doesn't have to be the best-looking house. You just let the market come to you Don't get greedy. I have two listings coming right now and one of my sellers totally understands this right? Yeah, let's sit low and get it sold. I don't want to mess around The other one's kind of hemming and hawing, questioning why we're listing it so low.


But guys, I'm telling you, look, this house isn't in the best shape. It's not in the best area. It's not in the best, look at the 1980s,


right? Look, there are maintenance issues. Something is going on here. It looks like it, I don't know what the hell that did.


And


this isn't Santa Clara, right? Now, Santa Clara doesn't have amazing homes or what have you, but it's a good opportunity because it's so close to high-tech jobs. And that's why it's sold for what it's sold for because you attract it. You get a ton of people. Let me see if I can show you this.


I know what I can do. I can just take it. I'm going to


bring this over here. There. Now look at that.


You're looking at, you're looking at, when I look at offers, now this is, this happened earlier this year, right? And we had 19 offers, something crazy. And we went back and forth and I, my job is to show you what we're doing. And when you have 5 percent under list price, what you think this, the market's going to go for, you're often.


Pleasantly surprised. And it happened, right? We were, we listed, I want to say we listed at 1. 8 1. 9 and we went all the way up to 2. 5 right? It's because the market will tell you what it's worth. Buyers tell you what your house will sell for. I don't control that. You can't control it. My house is worth 1.


6 million cause that's what it sold for back in last April or March or whatever. Yeah, guys, that was last March. Today is another day and don't come up to us and say, that's what it was worth. You don't know what it's worth because you're not the buyer of your house. When there are four or five or six buyers, then they can compete for it.


And then you're pleasantly surprised. That's what happened here. As opposed to this guy right here 72 percent in Morgan Hill. Now, granted, this is a nice house. Oh, wait, did I, have I been in this one? I think I was in this one.


Okay, so let's take a look at this. It has a weird lot. It's on a cul de sac, which is nice, but you're up in Jackson Oaks, so you're being quiet is not a problem. That looks like an air compressor, the air conditioner compressor. That's an amazing view. Oh, you get a little movie night. That's cheesy as hell.


Oh, two pictures of the front door.


They call it a tray ceiling when they just took out the fluorescent box and just rocked it. That's cheesy. I'm sorry. Yeah. And you have two different kinds of flooring and that looks like laminate. And when you're at a million dollars plus, you shouldn't be using laminate guys. Oh, wait, look, yet another kind of floor.


You have two different kinds of flooring there. I'm not being a prick here. I'm just telling you when a buyer's looking at this,


when a buyer's looking at your house, you can't say, hey, look, oh, by the way, these tubs, they're not cool anymore. Nobody really wants a freaking tub anymore.


And granted, if you're buying a 7 million house, you're gonna have a tub. You're gonna have everything in it, right?


Yeah, nice looking oh my god, that's a garage That's a refrigerator for a garage or a man cave or a shed Okay, so you get where I'm going with this you're putting cheesy Nice tripod guy.


All right. Look at the whole teepee thing. That's spent


some of these interior designers think they're all that This whole extended thing. That's going to be an eyesore. That's poor design


All right. So look let's say two point five two point four million dollars on the market 180 days six months They went, they dropped it down and dropped it down and dropped it down. And then somebody finally came in and said, Nope, I'll pay you what I want to pay for it. Does that make sense? When you're buying a house, you either buy a house that's brand new on the market and it's like little league soccer, right?


I equate new houses on the market. You have seven days to get that house sold. The reason why it's cause it's like little league soccer. You have, I guess I'll use my screen right here. You have the ball over here and all the kids are over here, right? They're supposed to be playing positions. They're supposed to be like here and they're supposed to be kicking the balls back to each other.


Now that's not what happens in a little league soccer. There's a house that goes for sale right here and everybody goes right over here. And they buy it, bid on it and I bid it up. And then another house goes for sale right here. And then all of a sudden, Everybody goes, and then there's another house right here thinking, Oh, my house is worth 1.


6 million because that's what house.


That was six months ago. Nobody cares what happened six months ago. trending up, trending down. And if it's overpriced, everybody's going to look at it and they're going to go, Oh, you know what? There's another house over here that's better priced for the condition, for the size, for the area.


And they're going to ignore that house and the house is going to sit on the market. You missed a seven-day mark. You're overpriced based on the condition, mark condition, market and location, period. And that's what happened here. And then guess what you get to do. You chase the market and we call it biting one, your arm off one inch at a time.


Funny, not funny. I started using that example one day with a lady who lost her arm. It was a sad situation. You had cancer. I'm like, you bite your arm. And I got stuck. I'm like, look, I'm sorry. That's I, and anyway, what happens is you start at 2. 4 thinking in hubris and my arrogance and my ego says my house is worth 2.


4 million and you beat up your agent and say, I'm not going to sell it for anything less than 2. 4 million. And then a month goes by and you drop your list price. And then you drop your list price and you get an offer and you're like, Oh, I'm insulted. I'm not going to take that offer. You need to counter that.


I think my house is, and then you counter it and the buyer's later, I don't need to buy your house. I'm going to go buy the one down the street. That's in better condition sucker. And then your house, they disappear. And then you're asking your agent, why, what happened to that buyer? You told me to counter it.


I gave you the options. You told me to counter it. I suggest you take it. They disappeared. Have you called? Yeah, I called. Of course, I called. It's my job to call. My job is to make sure that we get all possible. You could, and then all of a sudden there's self-doubt and it's my fault that your house isn't selling.


No, it's not because your ego is telling you that your house is worth too much and it's right there as proof.


And then you, here's your proof. 2. 4, 2. 1, 2. 0, 1. 9, 1. 89 final sales price. Now, if you had been smart and listened to your agent. and listed it at 1. 8 and let the market come in, you probably would have sold it for over two, more than likely to 2. 1, 2. 2, but not the 2. 4 because the market corrected. You don't care about what you think your house is worth.


Okay. Thank you for listening, for being my for being my therapist. I appreciate it. That rant really helped. Where can you buy a house for 5, 000? Flint, Michigan, you can. Look at all these houses, 5, 000, 6, 079.


If you're thinking about buying a house, now be careful because I did a little bit of research just for your edification. There are water quality issues here.


I don't know anything more about it. Never been to Flint, Michigan. I, maybe I can find somebody that lives and works in that area.

Yeah, Flint, Michigan, is one of the most depressed areas because this is where Ford used to be, I think. Or Ford still is. Or Ford... Left the manufacturing left and this used to be Motor World, right? So think about it. Let me know I'll send you this link You can look at it and I'll set you up with an agent that's out there and we'll get you a house in Flint Michigan.


All right today we talked about the automotive markets gonna crash be the house of cards Possibly foreclosures really are not on the rise. Not yet. At least that's not what they're reporting to you when your agent tells you to list your house low, list it low, and let the market come to you. Don't struggle.


Don't fight it. It's just the way we do things and it's the way it's always worked and it's the best way for it to work and you can buy a house for 5, 000 in Flint, Michigan. I'm Vito with Abitano. Thanks for listening to me for 23 minutes. We'll see out there.  Did you know that you can buy a house for 5, 000? You can stay tuned and we'll talk about it. But right now we're going to talk about the three things you need to know about living in Silicon Valley and the highs and lows of Silicon Valley for last week. Repo man returns for more Americans to fall behind.


The car crisis of 2023 massive car repossessions. The housing market is stuck. Rates inventory, blah, blah, blah. Foreclosure rate. Fred, the Fed is announcing foreclosure rates going up. It's not what you think. All right, let's talk about this.


Let's see. Let's see. Let's see. Inflation is kicking everybody's butt. Most Americans, but if you're not feeling it, it's because you're working in Silicon Valley and you're probably making more than the median price or income, which is like 63, 000 a year. The problem here is that American car manufacturers, car dealers, or what have you, they all got into cahoots and decided they're going to start sticking it to.


The people, not the man and they started selling house cars far above what the market calls for which means that if anything ever happened to the cars the insurance wouldn't cover it. They were charging 750 to a thousand even more for a monthly payment for these basic cars which is far way too unaffordable but they had to because this is the time for people to do it and it's natural for people to be.


And it's just human nature for us to screw each other over. So what's happening is you have cars that are undervalued upside down and people are just walking away. We knew this was going to happen two years ago when people were selling cars for 35, 000 over the list price because they could, there wasn't enough inventory and there was a buzz, and the G Mercedes G wagon was selling for 250, 000 over the list price.


And they could do that because People needed to buy cars and that's what's happening. So now what's happening is they lose, if you lose your job, we can't afford it anymore. You're like, I got to feed my family. I got to pay rent. Screw this car. Repossessions are coming in. And it's happening all over the United States.


Big time. I'm looking for the other article that I had here. I promise I had something here. Let's see the car crisis. There it is. So over 200, 000 cars a month. Are being repossessed. That's crazy. That's just nuts. It's an opportunity with those who you can buy. And I'm looking to buy a car. Why not?


When the market stabilizes, I might make a profit off of it. So just makes sense for me to do that on top of the houses that I'm looking at buying. Combination of high monthly payments, expensive insurance, and increasing car prices. It's easier to take the VTA


This auto situation is getting so bad that even Ford is working on a patent where the vehicles will be able to drive themselves back when people start defaulting Wow, that's crazy so guys It's normal, right? This is the precipice of the market coming down. And if you remember, I've been telling you this about the House of Cards for a very long time.


It's not going to be just the automotive market. It's not going to be the health market. It's not going to be the credit card market. It's going to be the entire economy that comes crashing down because we're on a hat, on a stack, a house of cards that are preventing us from moving forward. Overspending here. Underspending there. Inflation this. Hurting that. Unemployment's kind of going wonky. Misrepresented. Some would say, I don't know what the truth is. The economy's doing great, GDP's doing great, but it's not because of inflation. Just keep an eye out for what's going on. Rates are at 7. 8. They came down a little bit since last week.

Just a little tiny bit same with gas. Just a little tiny bit. Oh, you know what? I didn't do these numbers So let's take a real quick. Look. See if there's something here 128 128 closes versus 95 last week. I don't know what those are Okay. So the last thing we want to talk about is the Fred foreclosure rate Which is right here, guys.


It's not going up. I don't know what to tell you. This is still delinquencies, right? This is for cold foreclosures. Tomorrow you come back and take a look at the numbers here where we can talk about the actual REOs, which is not just 90 days out behind, but it's. Really six months to a year behind so my numbers are real-time But this is what's going on in the market


Are foreclosures coming?


possibly, but I don't think we're gonna see that big stack of Foreclosures that we saw in 2008 don't count on that. Don't bank your times on that if it happens great Jump on it, but I don't think people only 60 percent of the houses out there have a mortgage on it And of that, I want to say 75 percent about 65 75 percent Have rates under two and a two and a half three percent.


So why would anybody ever walk away from that? Those are historically low rates not gonna see that again in your lifetime more than likely. So Why would you let that go to foreclosure? You wouldn't not unless you died or massive tragedy or, and that's such a low percentage. And these numbers right here, they track to be, this is 12%, right?


They were literally around on the average about 5 percent of the houses that had mortgages on it on them, right? So again, 60 percent of the mortgages, we have about 300 million or 100 million homes out there. So 5 percent of that over a spread of time is. That's what occurred here when there were 5%.


We're not going to see anything more than one or 2%. That's what the numbers are saying. So there you go. Okay. This house, this episode is brought to you by no event. If you know a veteran and they have issues, whatever it might be, drug, or substance abuse. Depression, mental struggles, joblessness, income issues, whatever.


Send them over to know a vet and they can, there's a place, the self-help portal, if they still need help, they can get a champion. It's a great little program, helping hundreds of veterans. We want to make it tens of thousands of veterans. So let the word. Let everybody know about this, please. Gas again is 45, but let's take a quick look and see where the lowest is here in our area.


559. Holy moly. 499.


489.


Costco. There you go. Alright. Alright. Heisen Lowe's. Oh, wait. Yeah, we'll go to that in a second. Heisen Lowe's in Santa Clara County. This is a leash away. It just closed this month. 54 days on the market. 5 bedroom. 4 and a half bedrooms. Bathrooms, 3850 square feet, 16 quarter third to almost 0. 4, four-tenths of, an acre big built in 2015.


I think it was rebuilt original list price 3. 7 0. 4 final sales price 6. 9 93%. Was it 93 percent 93? 3%? Yeah. Really pretty ranch. I love the landscaping in this. I love that the whole entryway is all very hardcore wood. I have the same kind of wood on the front of my house.


Nice looking kitchen. You're going to see some of these pictures. I think the photographer went a little artsy like this. Come on, really? You should have focused more on The shadows instead of your angles. Okay. Nice. It's nice looking. It's a nice-looking house, right?


There you go. All right, let's take a look at the lowest on Soda Springs Road.


It's almost like they darkened everything out there. I don't know why they would do that. That's silly. This is a cabin. Look at this. This is in a pinch that could be your guest bedroom right there.


This is a really tiny house guys. This is like a little cabin, but it has a wet bar. There you go. Got to have that. 861 square feet, two bedrooms, two baths, a third of an acre or almost an acre. 113 years old. Listed for 699 on the market for 39 days. Sold for 675. 


Hi's and Lows

All right, this highest list price to sales price ratio Flannery Street in Santa Clara Somebody obviously underpriced it sold in nine days three bedroom two bath 1100 square feet built in 1955 It went for what was it?

26 over list price awesome job guys That's how you sell a house right doesn't have to be the best-looking house. You just let the market come to you Don't get greedy. I have two listings coming right now and one of my sellers totally understands this right? Yeah, let's sit low and get it sold. I don't want to mess around The other one's kind of hemming and hawing, questioning why we're listing it so low.


But guys, I'm telling you, look, this house isn't in the best shape. It's not in the best area. It's not in the best, look at the 1980s,


right? Look, there are maintenance issues. Something is going on here. It looks like it, I don't know what the hell that did.


And


this isn't Santa Clara, right? Now, Santa Clara doesn't have amazing homes or what have you, but it's a good opportunity because it's so close to high-tech jobs. And that's why it's sold for what it's sold for because you attract it. You get a ton of people. Let me see if I can show you this.


I know what I can do. I can just take it. I'm going to


bring this over here. There. Now look at that.


You're looking at, you're looking at, when I look at offers, now this is, this happened earlier this year, right? And we had 19 offers, something crazy. And we went back and forth and I, my job is to show you what we're doing. And when you have 5 percent under list price, what you think this, the market's going to go for, you're often.


Pleasantly surprised. And it happened, right? We were, we listed, I want to say we listed at 1. 8 1. 9 and we went all the way up to 2. 5 right? It's because the market will tell you what it's worth. Buyers tell you what your house will sell for. I don't control that. You can't control it. My house is worth 1.


6 million cause that's what it sold for back in last April or March or whatever. Yeah, guys, that was last March. Today is another day and don't come up to us and say, that's what it was worth. You don't know what it's worth because you're not the buyer of your house. When there are four or five or six buyers, then they can compete for it.


And then you're pleasantly surprised. That's what happened here. As opposed to this guy right here 72 percent in Morgan Hill. Now, granted, this is a nice house. Oh, wait, did I, have I been in this one? I think I was in this one.


Okay, so let's take a look at this. It has a weird lot. It's on a cul de sac, which is nice, but you're up in Jackson Oaks, so you're being quiet is not a problem. That looks like an air compressor, the air conditioner compressor. That's an amazing view. Oh, you get a little movie night. That's cheesy as hell.


Oh, two pictures of the front door.


They call it a tray ceiling when they just took out the fluorescent box and just rocked it. That's cheesy. I'm sorry. Yeah. And you have two different kinds of flooring and that looks like laminate. And when you're at a million dollars plus, you shouldn't be using laminate guys. Oh, wait, look, yet another kind of floor.


You have two different kinds of flooring there. I'm not being a prick here. I'm just telling you when a buyer's looking at this,


when a buyer's looking at your house, you can't say, hey, look, oh, by the way, these tubs, they're not cool anymore. Nobody really wants a freaking tub anymore.


And granted, if you're buying a 7 million house, you're gonna have a tub. You're gonna have everything in it, right?


Yeah, nice looking oh my god, that's a garage That's a refrigerator for a garage or a man cave or a shed Okay, so you get where I'm going with this you're putting cheesy Nice tripod guy.


All right. Look at the whole teepee thing. That's spent


some of these interior designers think they're all that This whole extended thing. That's going to be an eyesore. That's poor design


All right. So look let's say two point five two point four million dollars on the market 180 days six months They went, they dropped it down and dropped it down and dropped it down. And then somebody finally came in and said, Nope, I'll pay you what I want to pay for it. Does that make sense? When you're buying a house, you either buy a house that's brand new on the market and it's like little league soccer, right?


I equate new houses on the market. You have seven days to get that house sold. The reason why it's cause it's like little league soccer. You have, I guess I'll use my screen right here. You have the ball over here and all the kids are over here, right? They're supposed to be playing positions. They're supposed to be like here and they're supposed to be kicking the balls back to each other.


Now that's not what happens in a little league soccer. There's a house that goes for sale right here and everybody goes right over here. And they buy it, bid on it and I bid it up. And then another house goes for sale right here. And then all of a sudden, Everybody goes, and then there's another house right here thinking, Oh, my house is worth 1.


6 million because that's what house.


That was six months ago. Nobody cares what happened six months ago. trending up, trending down. And if it's overpriced, everybody's going to look at it and they're going to go, Oh, you know what? There's another house over here that's better priced for the condition, for the size, for the area.


And they're going to ignore that house and the house is going to sit on the market. You missed a seven-day mark. You're overpriced based on the condition, mark condition, market and location, period. And that's what happened here. And then guess what you get to do. You chase the market and we call it biting one, your arm off one inch at a time.


Funny, not funny. I started using that example one day with a lady who lost her arm. It was a sad situation. You had cancer. I'm like, you bite your arm. And I got stuck. I'm like, look, I'm sorry. That's I, and anyway, what happens is you start at 2. 4 thinking in hubris and my arrogance and my ego says my house is worth 2.


4 million and you beat up your agent and say, I'm not going to sell it for anything less than 2. 4 million. And then a month goes by and you drop your list price. And then you drop your list price and you get an offer and you're like, Oh, I'm insulted. I'm not going to take that offer. You need to counter that.


I think my house is, and then you counter it and the buyer's later, I don't need to buy your house. I'm going to go buy the one down the street. That's in better condition sucker. And then your house, they disappear. And then you're asking your agent, why, what happened to that buyer? You told me to counter it.


I gave you the options. You told me to counter it. I suggest you take it. They disappeared. Have you called? Yeah, I called. Of course, I called. It's my job to call. My job is to make sure that we get all possible. You could, and then all of a sudden there's self-doubt and it's my fault that your house isn't selling.


No, it's not because your ego is telling you that your house is worth too much and it's right there as proof.


And then you, here's your proof. 2. 4, 2. 1, 2. 0, 1. 9, 1. 89 final sales price. Now, if you had been smart and listened to your agent. and listed it at 1. 8 and let the market come in, you probably would have sold it for over two, more than likely to 2. 1, 2. 2, but not the 2. 4 because the market corrected. You don't care about what you think your house is worth.


Okay. Thank you for listening, for being my for being my therapist. I appreciate it. That rant really helped. Where can you buy a house for 5, 000? Flint, Michigan, you can. Look at all these houses, 5, 000, 6, 079.


If you're thinking about buying a house, now be careful because I did a little bit of research just for your edification. There are water quality issues here.


I don't know anything more about it. Never been to Flint, Michigan. I, maybe I can find somebody that lives and works in that area.


Yeah, Flint, Michigan, is one of the most depressed areas because this is where Ford used to be, I think. Or Ford still is. Or Ford... Left the manufacturing left and this used to be Motor World, right? So think about it. Let me know I'll send you this link You can look at it and I'll set you up with an agent that's out there and we'll get you a house in Flint Michigan.


All right today we talked about the automotive markets gonna crash be the house of cards Possibly foreclosures really are not on the rise. Not yet. At least that's not what they're reporting to you when your agent tells you to list your house low, list it low, and let the market come to you. Don't struggle.

Don't fight it. It's just the way we do things and it's the way it's always worked and it's the best way for it to work and you can buy a house for 5, 000 in Flint, Michigan. I'm Vito with Abitano. Thanks for listening to me for 23 minutes. We'll see out there. 

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