3883 Woodcreek | Middle-class home buyers are getting priced out of these California cities | What you get for $1MM in SILICON VALLEY


3883 Woodcreek | Middle-class home buyers are getting priced out of these California cities | What you get for $1MM in SILICON VALLEY

3883 Woodcreek https://www.abitanogroup.com/3883woodcreek


Welcome Home to your home on a quiet, low-traffic, tree-lined street. walk into an inviting courtyard adorned with greenery and a natural stone fountain. The main floor is a spacious entertainer room with a custom-designed kitchen and a 4-burner gas stove with grill.

4 bedrooms

2.5 baths

1,937 SF+/-

6,534 SF Lot +/-

2 car garage

built 1973

private courtyard

large pool

master chef kitchen

Welcome to Clare County's Real Estate Insights

 Clare County, Silicon Valley, and a new listing I'm popping up went active yesterday, wanted to show you a little bit about it and then the inventory snapshot across the county. Let's get moving. All right. 

Middle-class home buyers are getting priced out of these California cities

The Struggle of Middle-Class Homebuyers in California

Middle-class home buyers getting priced out of these California cities. I see it happening every day.

Guys, I've been waiting for the crash that happened for the last, I don't know, since 2008. Back then, I couldn't afford to buy a house, another house. I just wasn't financially able to. Today, I'm in a position where it was a crash, I'm going to buy a house. I'm going to buy a couple houses at the crash on the way down.

It's the way it is. The problem is that everybody has that mindset, right? And I get that and housing prices continue to go up. Inflation continues to go up. Everything. I just priced out the insurance for this car that I want to buy. And it put me in, stopped me in my tracks. This is crazy. Yeah.

The Harsh Reality of Renting vs. Owning

So other things that you have to think about is if you're a renter, your legacy is renting for the rest of your life. You're not building an asset. You're not building equity and it's happening to multiple friends of mine that are continuing to rent. They have to move when the landlord says that they're going to sell the house or that they want to do something else or that they want to increase the price or what have you.

It just, it sucks. And I understand that it's becoming unbearable and there's going to be a tipping point. I understand that. But if the market does crash, don't think that you're going to be able to buy a house. Just not here. Obviously, it's here, but in other places out here too, people are just saying we're priced out.

I can't afford to buy it.

The income you need is 425, 000. I think this is getting by the hair of your chinny chin. But how many people do you know that make over 400 grand a year?

No, my clients, but I also know a lot more that cannot afford that. So what's the person to do? 

Exploring Affordable Housing Options

Commute there's Hollister. There's the Monterey Bay area. There's Salinas, there's Los Banos, there's Central Valley. If you absolutely have to live here.

Think about buying something where you have to commute a little bit. And yes, it's going to suck, but what sucks worse is having to move every couple of years. So you just have to figure that out. We were fortunate a long time ago, got jumped in and we couldn't afford it, but we did it, bought a little house for about two 25 and it was in an HOA.

It was a single-family house. And then I'll never buy a house in a single HOA again, but it's getting tough everywhere. 

The High Cost of Living in Silicon Valley

San Jose, Sunnyvale, and Santa Clara are some of the most expensive places to live. San Diego, it's the most expensive place to live in the U. S. because the cost of living is so high for everything.

Don't know what to tell you other than if you can, scrape by, get a condo or something. Otherwise, you're going to be renting for the rest of your life. 

San Jose nightlife hotspot closing after two decades

Saying Goodbye to a San Jose Nightlife Icon

San Jose nightlife hotspot closing after 20 years. Rosie McCann is, I have good memories of Rosie McCann.

And if you know me, I'm not a huge drinker. I'm not a huge pubgoer. That was in my twenties. Did that a lot back then, but I just don't do it because I'm a dad, right? I'm here for my kids when they need me, et cetera. But every time I go to Rosie, it's great service, great products, great food great drinks.

They're just great people. It's just a really fun thing. And I'm sad to see them closing down. They have probably just been struggling along ever since. And I know that they're this, the owner has. Two or three other places. So sorry to see you go. You create a lot of great memories for a lot of people.

Thank you for everything you did. And anyway, let's not be sad about everything. 

What you get for $1MM in SILICON VALLEY

What $1 Million Buys You in Silicon Valley

So what do you get for a million dollars in Silicon Valley? You can get an old craftsman style, right? Three bedrooms, one bath, 1, 356 square feet, over a hundred years old. Probably doesn't even have a garage.

Oh, yeah, it does have maybe it's not a garage or a shed. Yeah, that's correct

This is real, really nicely done, guys. Let me see if I can pop this up for you. There you go.

Wow. The good thing about this is it's very rustic, and historic. The negative thing is if you do anything to the outside, you have to go through, What's inequitable to an HOA, they have a historical society and they tell you what you can and can't do to this house. For example, you can't replace the windows.

You can't paint the house, certain colors, et cetera. But when you go into this, there are certain CCs and R's that you have to buy and understand. So when you look at something, it's rich, and historic, right? And luxurious for its time. This is a beautiful house. It's just not a modern house. So if you're interested, let me know.

Happy to go show it to you. That's what you get for a million dollars, brand new on the market. Let's see five days. There you go. All right. This episode is brought to you by AIDA. AIDA is my automated intelligence digital assistance. It does a lot of the marketing, the funnel, the workflow, and all that stuff.

So I don't have to do it. And when this came along, I just said, jump into it. And it's such a great product, such a great service. They take care of everything for me. I say, I want to have a lead funnel for this and then they create it for me. I need to have, I want to talk to all my past buyers and they create a buyer program for me, right?


And they just do it. It's just done. If you're interested, give him a call. This is my buyer's checklist. You fill this out and you get a home buyers checklist, right? It's all done automatically. I don't have to lift a finger.

AIDA Attract, Interest, Desire, Action

Brought to you by AIDA. 

Showcasing a New Listing: Wood Creek Lane

The next thing is Wood Creek, 383 883 WOOD CREEK LANE, San Jose, 95117 this beautiful home I've been working on for the last couple of months. We finally got it up on the market and it is going to be glorious. This is one of the fun things we get to do is show off houses. And inside there is a video.

I just put it on YouTube. I'll put it onto the website here in a minute. The cool thing guys, look, this is a dropdown projector system and I don't know if you can tell. Yeah, there's seating back there, but there's also a gas fireplace and a wet bar. This is the downstairs. It's a tri-level. So the main level is the kitchen and the entertaining area.

If you want to have a nice dinner with friends if you want to just have a nice cozy. Time you go down here and watch some TV or some sports, bring a couch down there. You have a bar, wine, refrigerator, et cetera. And if you're not watching a game, you can just have the fireplace going. And then this goes out to the outside, which is a nice pool photo there for you.

They're a nice pool gazebo. There's a hot tub and a lazy area here. And it's just great. Very quiet oasis. And the beautiful thing about it is from the front to the back. It's a wedge. So the backyard is a lot larger than the front yard. And this is all low maintenance. You don't have to worry about anything.

Beautiful place. Got to come take a look at it this weekend. Open houses, Saturday and Sunday, one to four. Give it a call. Give it a try. All right. 

Understanding the Current Real Estate Market

County months of inventory. Wow. It shot up. No, it didn't. It just right now they're reporting high because we're at the beginning of the month.

So don't freak out when you see that. When you see this charcoal shooting up, Oh my God, this is the time for the crash to happen. It's not going to happen. It could, but it's not because this is the middle of the month. I just reported in the middle of the month. So don't freak out about that.

The numbers are high artificially because. I don't know why it's just, that's what they're giving me. These numbers are not really officially happening because there's just not enough inventory houses are still selling really quick. 

Embarking on a Caribbean Adventure

15-day trip to the British Virgin Islands. I feel like I'm smashing into your face. I'm so excited for this guys. You don't understand. I've never done a huge trip like this. Sailing is something I don't do. 

It's a Caribbean Island, the British Virgin Islands. We're going to be island hopping and just all sorts of stuff. Just really fun. Can't wait to show you those videos and pictures. I bought a one-terabyte chip, so I'm going to be doing a lot.

I just bought a second one too, just in case. So it's 250 hours per. Things at 4k are really crazy. Okay, there we go. 

Wrapping Up and Final Thoughts

Let me get out of here and get ready All right, guys, it is April 11th today. We talked about homebuyers middle-class homebuyers being priced out of, California Rosie McCann, thanks for all the memories sad, but it is What you get for a million dollars.

And my new listing on Wood Creek Lane and the inventory snapshot for Santa Clara County. I'm Vito with Abitano. Have a great weekend. We'll see you out there.

Vito Scarnecchia Real Estate Broker, Veteran, Dad DRE#: 01407676 We’re Hiring! 408-705-6817 Vito@abitano.com Website: abitano.com https://www.onereal.com/vito-scarnecchia-1 update your home value: https://hmbt.co/bT7qRJ RELOCATION@ABITANO.COM 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! Book appointments here: https://calendly.com/abitano/15min Home Buyers Course YT YouTube.com/SanJoseLiving IG https://www.instagram.com/abitanogroup/ FB https://www.facebook.com/vito.scarnecchia/ LI https://www.linkedin.com/in/vito-scarnecchia/ Blog http://blog.abitano.com/ POD https://spotifyanchor-web.app.link/e/oxdH1Hwfcvb Professional Photography by Kim E https://photosbykime.com / Local Real Estate Market and Home Value Report https://hmbt.co/bT7qRJ Financial Intelligence https://docs.google.com/forms/d/e/1FAIpQLSc0R5pjHIAPguZ5GDEB-fTbGJXKpWK3coK9Khymv_GTWkMnyQ/viewform?usp=send_form https://www.onereal.com/vito-scarnecchia-1 Willow Glen's five most expensive homes https://youtu.be/3A_E2ck0ePg

Fraud, Homebuyer workshop, Bay Area housing stats, Veteran Home, best time of the year to buy a house, Bay Area Luxury homes, next housing crash prediction, housing market projections, Should I Buy A House Now Or Wait?, should I buy a house now or wait until 2024, Why You'll Regret Buying A House in 2024, Housing Market 2024: 5 Options If You Regret Buying a Home, when will the housing market crash again