22% of U.S. Residents Are More Likely to Move Now That Election Is Over,

 



22% of U.S. Residents Are More Likely to Move Now That Election Is Over, With Many Considering a Different Country or State

Introduction and Brainwashing If the army and the navy ever looked on heaven's scenes, they would Behind the gates are guarded by United States Marines. I tell you when you get brainwashed. Post-Election Moving Trends Today we're talking about 22 percent of US residents considering a move now that the election is over. Some of them are looking to move to a different state or out of the country. That's true. First-Time Home Buyer Challenges

First-Time Home Buyers Shrink to Historic Low of 24% as Buyer Age Hits Record High

And then also first-time home buyers shrink to a historic low of 24 percent as buyer age hits recorded highs. And also we'll talk about mortgage rates this week. The what you get for 2 million and what you get for 1 million in Santa Clara County, as well as the 12 Bay Area County months of inventory report. Let's get moving here. All right, let's get first-time home buyers saying that, yeah, I don't know, it's too unaffordable. Here's the thing: We're at the median price across the U.S. 400 and something and change thousand dollars, and the average income is super low right now. The median household income rose from 108 to 107. So that means it's about 50, 000 a person. Married couples increase up to 62 percent of all buyers with single female buyers, seeing a slight rise to 20%. Conversely, the share of single males decreased to 8%. Imagine an unmarried couple. Drop to 6 percent in addition to the share of single-family first-time homebuyers Jumped up 5 percent you can read the whole thing here. But the bottom line is Affordability first-time homebuyers are struggling to buy First-time homes, and I'm looking at buying a house for my parents in the Las Vegas area. My sister's a broker there So if you're moving, let me know I'll hook you guys up a standard house is about 450 to 600, 000. It's a little bit above the medium price, but that's because there are a lot of people moving there, even though there's a huge amount of inventory. I'm very specific about what I'm buying though. I'm like no HOAs, three car garage, four plus bedrooms. So I'm being a prick, but that's because I'm the buyer. Read this article. It's pretty interesting. The link is down below in my blog. Yeah, there you go.

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Current Mortgage Rates and Advice

Mortgage Rates this week

Rates are 7. 2. They've actually continued to go up, over the last couple of days. It just boggles my mind. Yesterday, we talked about how the new normal will be five and a half to six and a half where 6 percent is the average. Right now we're saying, don't go out and buy a house. Unless you can afford it, unless you can see that there's a five to 10-year horizon on your purchase because what you buy today is going to be worth a whole lot more in 10, or 12 months. I can guarantee it. Not guaranteed. Nobody can guarantee anything, right? Here's the problem, right? What happens if the market crashes? What happens if the global economy crashes? What happens if we have a zombie apocalypse? We don't know. But for right now, if we're continuing the course that we are, and we're seeing the future of house prices increase over the next two years, There's no reason for us to have low interest rates because when the interest rates lower, that means more buyers enter the market. That means there's more competition. That means prices go higher. And then we have the affordability problem altogether. If you bought a house right now and then in a year or two the rates went down, they say to date the rate, buy the house, and date whatever. I'm not a big believer in that because I don't know when the rates are coming down. I'm a better believer in buying at the current price, and asking for concessions. A couple points to drop your 7.2 down to six or 6.2. Or whatever, right? So something to think about.

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VA Loans and Veteran Home Buying And yesterday I did a talk at San Jose State, the VRC, and the Veterans Resource Center, about the home-buying process the VA 30 year Loan is so much more competitive for our veterans and service members, because if you're buying a house and you're a service member, chances are you don't have a ton of money packed away, right? And it's a 0 percent down product. It's easy to get in. It's great for our veterans. I just heard that there was a 4 point 7 million house being bought by a former sergeant who became an orthopedic surgeon. So you can use the VA. There are no limits, et cetera. These are unquoted rates. So again, you can get it down to six and a half if you really tried, but I wonder what it would be if you paid a full point down and see what that came out to. There you go. Home Buyer Checklist If you're thinking about buying a house, Make sure you take a look at this home buyer checklist. Walks you through every nook and cranny. I showed it yesterday. I don't have it up today, but it allows you to walk through every part of the house and look at it a little bit finer than, Oh, this is pretty. I like the paint. I don't really care for the paint type of thing. So download it, and get it done.

What you get for $2MM Santa Clara County

What'd you get for 2 million in San Jose, Santa Clara County? This is Bimmerley Place, and it is right on the cusp of Almaden. It's still Blossom Valley, but it's really close to it. Almaden Lake Park, Oak Ridge Mall is over here and it is a four-bedroom, three-bath, almost 2,500-square-foot house built in 1981. Let's take a look at the pictures real quick. Again, this is not my listing. Yep, really nice. Wow, this is a much better layout. Ooh, look at that. Yeah, that is as is, That are some original-looking cabinets there. At least they put in new refrigerators. Too bad, no sale. You get a built-in fireplace, which is nice, and that looks like it's a dishwasher? Maybe? A built-in dishwasher? Good for them. Everything you need. Big master room. I guess that is some old-looking tile. So 2 million and you still have to do some upgrades to it. There you go.


What'd you get for a million dollars in San Jose, California, Santa Clara County?
This is right by Capitol Expressway and Coyote Creek. This is Andrew Hill High School, three bedroom, two bath, 1000 square foot. Built in 1976. Open houses this weekend. I love the name bourgeois. Don't be so bougie. It is a flip I don't know if they bought it and fixed it and flipped it or they just updated it. At least they did something to it compared to the last one we looked at. Look at that blank slate of a backyard. That's a lot of cement to get rid of. I wish I had done that to my garage. Put that chip paint down there. That's nice. All right. That's what you get for a million dollars on the market one day.

AIDA Attract, Interest, Desire, Action

Real Estate Market Analysis

Inventory And Supply Charts

This one has been on the market for seven days, 22 percent of us residents are more likely to move now that the election is over with many considering a different country or state. It's true. I talked to a lot of people about this. A lot of people are like, Hey, you know what? Scott's sales are looking really nice. I talked to one of my lenders yesterday. He's thinking about moving out. One of my other lenders moved to Austin, and another one moved up to Galt, Elk Grove. People are just getting out because it's hard for them to make a living here. What if you moved out of state? What would it look like for you? I've been looking at a lot of different options my girls are graduating in May, and I'm not sticking around. I'm getting out of here because I think there are other things for me to do better things for me to enjoy and a slower life that I want to live. If you're thinking about selling, let me know. Spring and summer next year is going to be gangbusters. There's a lot of pent-up need for people to move. I have at least four listings coming up in the spring already. These numbers are still from October. We're in November now and nothing's really changing outside of the fact that we knew in October the inventory would drop down a little bit as it always does. Last year we had a little bit of Harry Carey. Up and down. These big squiggly lines are days on the months of inventory. And then the big blue line is the U S median inventory number. And again, we're looking at six months here. Like we saw in 2008, the 2012. Since then, we haven't really been in a seller's market. This is a seller's market and it's been like that for a long time. And you can see during the summer, things slow down every month. It's different. So just keep that in mind. Pricing Strategy for Sellers The biggest thing I tell people is don't get greedy and don't get cocky when it comes to pricing out your house, because if you overpriced your house, you're going to sit on the market for a long time and think your agent's not doing anything. We do a course of action for every house that we do. We have a list of things that we do to market it, get it out there, and get a buzz going. And if your house is overpriced, it will sit. And that's the worst thing you can do let your house sit in a seller's market. Because once you're at 15 to 30 days, the vultures start coming around and looking for deals. My job is to convince you that when you do put your house on the market, list it low, attract the market, bring in the offers, and then negotiate it up. Are you going to get to the crazy number that you're thinking? Maybe you never know, right? I just sold a lot with a house on it. A piece of crap house 400, 000. Then close to it. 340, 000 over the list price and when you bring in multiple offers, magical things happen. Thanks for watching. This is my girl's lasgirl'spetition before state this weekend where I'll be up at James Logan High School, Union City, or some, and watching my girls compete in band. Have a great weekend. I'm Vito with Abitano. Thanks for watching. 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


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