🔴 Cities With the Most Millionaires | 8 Benefits of Buying a House at Year's End



🔴 Cities With the Most Millionaires | 8 Benefits of Buying a House at Year's End




  The city with the most cities with the most millionaires in the world, which is what you're looking at right now. Should you buy in December during the holidays and the inventory across the United States? Let's get going. Yeah. Look at this. This is a fun thing. I do subscribe to Visual Capitalists because I think it's pretty amazing when you think about it.

What's eye-opening to me is  We're the Bay Area has the third highest, most populist population of millionaires in the entire world next to Tokyo and New York, the Bay Area. Now that's a lot of people, a lot of areas.  New York is one city, one island. I'm not sure exactly how they count this, but at the same time, look, 300, almost 300, 000 millionaires.
That's out of a million 1. 3 million, 1. 2 million people in San Jose. I don't know how many people, I think we have probably 6 million people, 5 million people that live in the Bay area. That's a huge density. And that's probably why that leads to how much less affordable it is to live here than it is in Tokyo New York and London.



it. So anyway, okay, there you go. Eight benefits of buying a house at year's end. I'm going to do a pros and cons right here. One is tax savings. Here's the thing. I don't know if it's tax savings or not. You have to talk to your tax person because I'm not a licensed tax person to tell you or give you that kind of advice, but you do have certain tax advantages of being a homeowner. 
I do. Yeah. Motivated sellers. Yeah, no, sometimes if the house has been on the market for 30 or 40 days, they don't give a crap if it's Christmas or not. They're like, just sell my house. I understand that's a motivated seller. If it's brand new on the market this week, we're going to get into it in a minute then they're not going to be motivated.

So yeah, builder incentives. Yes. Every builder incentive.  Every new builder will have incentives, but here's the thing. It's just like buying a car Wow major epiphany there buy a car at the new car centers The new house centers will give you better deals at the end of the month. So your end is a month.

Yeah, absolutely There's nothing better than going in at the end of the month and racking a deal for a client In August or December, it doesn't matter whether available movers. I'll give you that most of the movers right now are slowing down and pace. They don't have a long list of weight, so it's not that big of a deal.

So that's one incentive. That's one actual positive thing. I'll tell you right now,  because during the summer it gets busy, but it's not as busy as it was two years ago. Paying forward, paying towards something you own. That doesn't matter when you do it, your end or. Next year, August. Yeah. You should always be looking towards creating your own legacy.

And we have courses on that down in the links are down below consistent payments. That's exactly what we've been telling you all along. That's not a year-end thing. That's just another kind of bullshit.  Sorry bull only article just because these guys need something to write. Paying towards something you own, consistent payments.

Yes, I understand that. It's the stuff that I talk about all the time. Why you should be a homeowner if you're not a homeowner. You have the freedom to renovate. But you also don't have the freedom to move. So let's say that you have to move or get relocated. You'd have to sell that house or rent it or do something with it.

You can paint. Absolutely. I painted this house like five times already. I've redone the kitchen twice. I put new windows in it, put insulation in it, put a new HVAC in. You absolutely have the freedom to do all that. That's absolutely it. But it's not the year-end of the year. Gaining equity doesn't matter what time of the year you're always going to gain equity. The minute you own a house, you're going to gain equity and yeah, you might get negative equity.  That's a gain of a negative equity. But anyway, there you go.  It's a crappy article.


What'd you get for a million dollars? Let's take a quick look and see what this comes up with here today. Let's see 950  on Blossom Hill guys. Okay. My philosophy on busy streets is don't ever buy a house. On a busy street ever. I don't care. If it's a busy street, don't buy it. 


Stephens Creek, I don't know. Whatever it is, Blossom Hill Road. Let's take a quick look at this one.  This one's gonna be on the market for a little bit. Because it's on a busy street. And yeah, it might be completely updated, but

avenues are busy streets. Lean is

and you have these streets too. Are there main access roads?

Let me show you real quick. I got my high horse there. Blossom Hill, Snell, right? Lean, they're filter roads. And then you have main access roads like Colville. And the developers here did a pretty good job of mixing things up, but Calero,

I tend to take my buyers away

on, and it's right next to a high school. You have traffic issues. So  I will bet you that this thing has been on the market for a long time for the price. I'll bet you a dollar. It's a good-looking house. The basic ranch house has one bit, one, one whole photo. There you go. That's what you get for a million dollars in Santa Clara County.

Inventory Watch

.

Inventory is going down all the way around the world.  Mostly because it's the holiday season, guys. Nobody wants to go Christmas shopping and get their house ready to go on the market. It just doesn't happen, right? There are motivated buyers, but there are also motivated sellers, so there's something in between, but the lack of inventory right now only bumps up in January, and February,  as we come through this deep freeze, we're going to see people start to thaw out and go, I need to sell my house.
And you'll see those numbers come up. The average home that we have for sale right now, or the average number is two 62, right? Yep. 262 in San Jose,  we're at 175. We don't have any inventory. People are going into hibernation. I get it. I would too. I would too. Cupertino is 15, that's less than the average.

Los Gatos has 70, 60, which is less than the average.  We're all below average. Even across here, Cape Coral. Actually Cape Coral is the only one that went up, but Tampa went down. Austin went down. We're all below the, not, Atlanta's a little high, but anyway, that's probably because nobody wants to buy an Atlanta.
Anyway, nothing is going crazy right now. Inventory is still low. I'm going to start working on charts here over the next week since it's a little slow for me, but there you go. All right. Today we talked about where the millionaires are. We have a ton of them here. 350, 380, 000 millionaires in the Bay Area.

Crazy. Should you buy during the holiday season? That's up to you. I just debunked it. And inventories are still low. I'm Vito have a fantastic weekend.

​ 


Vito Scarnecchia

Realtor®, Broker, Veteran, Dad

DRE#: 01407676

408-705-6817

Vito@abitano.com

Website: abitano.com https://www.onereal.com/vito-scarnecchia-1

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