Where in California are rents falling the fastest?

 


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Introduction: California Rent Trends


Where in California are rents falling the fastest? We'll talk about that as well as Cupertino Home of the Week Willow Glen Home of the Week and Luxury Home of the Week. As well as the Silicon Valley 12 Bay Area County year-to-date sales report. All right, let's get into this where in California are rents falling the fastest? Oakland has the state's largest rent decline of 8. 8%. That's almost 10 percent off of what you were paying last year. It's also the nation's largest slip. 


Oakland, one-year rent change, negative 8. 8, a one-bedroom is now worth 1, 800 a month and a two-bedroom is now worth 2, 200 a month. San Jose is one of the highest as well as Fresno, 2. 5 up, and then Sacramento. Oakland not only had a decline of 8.


8, the drop was also the nation's biggest. It doesn't mean Oakland rents are cheap, landlords wanted 1, 800 for a one-bedroom and 22 for a two-bedroom. 


California Cities Rent Analysis

Renters were winners in these California cities. San Diego, 3. 8 percent down.


Chula Vista, Long Beach, and Los Angeles seem like it's all Southern California except for Fremont and San Francisco. San Francisco is seeing a resurgence of people coming back, at least as far as home sales are concerned.


San Jose 1. 9 in a year. We're now 2, 500 for a one bedroom. That's just preposterous. It's nuts. And 3000 for a two-bedroom, as well as a couple other places in Southern California Sacramento is up 1%, which is 1400 for a one-bedroom and 1800 for a two-bedroom. Fun days.


If you're thinking about selling your house, great time to do it. Rates have come down, more buyers are entering the market, and supplies staying about the same, but if you're thinking about selling it, get some of the honey dues done before you put it on the market.


This checklist will help you get through that. 


Cupertino Home of the Week

Cupertino house of the week. Let's see how this works. Look, isn't that a great professional photo? I don't know, man, you're doing a home sale, and Cupertino 2 million. And that's your first picture is a portrait. Another portrait and then this, you could tell the difference between cheaply done.


This one will sell quickly because 2 million in Cupertino is nothing.  Three bedrooms, one and a half baths, a thousand square feet. It's a Rancho Rinconada. All right. 


Willow Glen Home of the Week

Willow Glen house of the week. Glen and I chose it because it's within walking distance of downtown Lincoln.


It's on Lincoln, four bedroom, four bath, three and one-half bath, 2, 900 square feet, built-in 1925. Looks like it's nicely updated. This is not my listing.


Looks like it was a ranch house at one time. It's pretty nice.


The only problem is, that you're on Lincoln, which is a busy street. 


Luxury Home of the Week

Yeah, I don't know the location, but Waverly Street is our luxury house of the week anyway. This one has been on the market for a really long time. I talk about it during our highs and lows, usually Tuesdays, but this one caught my eye.

So I thought I'd take a look at it. I know I've talked about this before. Again, it's not my listing on market 144 days. This guy's trying to be a market maker. They haven't budged on price whatsoever. And I think it's more ego than anything. Oh, of course. And by the way, if you want to look at any of these luxury homes, I'd be happy to show them to you.



Let's take a look. Very nice home. Very elegant. Castle-esque beautiful house. Everything about it's beautiful. Why isn't it selling?  in the billionaire space, if you have more money than time, it doesn't really matter. You probably don't have a mortgage on this.

  • YTD SALES 12 Bay Area Counties

You don't care if it sells or not. If it does, you're going to get your price. that's the way  this house is being sold 144 days, almost six months. There you go. And then I do this. As easy as possible. we're at over 6, 000 sales for the year, week 39, we're almost at 14 billion in sales volume this last week.


We did 428 in Santa Clara County. San Mateo still holds the reins for the highest, most expensive homes sold in the Bay area. Even though it went down a little bit, year to date listings were at second place. Alameda has just jumped up. Alameda seems to be a place to be, since it's 1.


4 million versus 2. almost 3 million. So if you lived in Fremont or Hayward or in those areas, it would be a lot better for you, a lot more cost-effective, like Napa, when you look at it, 96 cents on the dollar. They've only had a thousand listings and they've only sold 600 homes this year. So yeah, Napa is not the place to be unless you're looking for a great deal.


And again, Santa Clara County has the most in contract by far, almost 400. 600. There you go. Hope this is helpful. I'm Vito with Albatano. We'll see you out there.


Vito Scarnecchia Real Estate Broker, Veteran, Dad DRE#: 01407676 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


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