San Jose is towing oversized vehicles from these 30 locations | Inventory And Supply Charts

 




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San Jose's RV Armageddon

San Jose is towing the RV Armageddon. We'll talk about that, as well as the fact that 48 percent of America's population wants to move. That's good news for us. What does that really mean? We'll go in-depth into that and mortgage rates and what you get for 2 million and what you get for 1 million in Santa Clara County and the 12 Bay Area, inventory report.


Let's get moving here. San Jose. This has been a pain. This street you're watching is Chinatown. If you want to know where that is, it's in South San Jose. If you have driven down this road, there is a long line of RVs and housing units.


I think that's Matt. He's talking about how they're going to step up efforts, put them in different places, and offer short-term housing. They're going to be clearing this out.


I think it's 12 different areas. They say it's close to 2000 vehicles. Just in San Jose. It's not just San Jose. It's Santa Clara County, San Francisco, Oakland, LA, which is horrible right now. They're launching an initiative to move them off and make them less of a blight.


These poor neighbors who are paying millions of dollars for homes have to deal with neighbors who are basically squatting on the street and vandalizing and stealing. And the problem here, guys, is It's a problem. That's not going to go away.


Not in the current climate, not in the current policies. We're just going to have to deal with it. And I'm not saying go out and do anything about it. It's a tough problem, right? Because we want these people to feel.


🔴 Video Living in San Jose in the No. 4 spot. in the US | What you get for $1MM in SILICON VALLEY

About where they're moving, but they're also in a place where they're not having to pay anything. I'm happy. And here's the reason why I'm happy about this, especially since I have a listing coming up. Right around here next week. So hopefully by next week, this will be gone. And buyers won't be like, Oh my God, I have to deal with this.


I'm not going to pay, 1. 3, 1. 6 million for this house. I'm going to pay maybe a million dollars. So it's going to help property values go up a little bit. 

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America on the Move: 48% Want to Relocate

I'm hoping 48 percent of Americans eyeing a move in 2025 They're looking at it. They're thinking about it.

They're saying, sure. This is done by a survey of, you know, maybe 500 people. And they asked, would you move if you could in 2025? So among those who are considering a move, 48 percent say the political climate makes them want to do so. Just like all the movie stars say they're going to move out because Trump is president.


It was the same thing when Biden became president, 43 percent of all Americans say they're willing to spend more to live in a place that more closely matches their political ideals. This is done by LendingTree, This is not my opinion. This is a report done by somebody.


And I hate talking about politics because it gets so embarrassing. Incendiary. The result of president blah, blah, blah, safety, and access to healthcare will play a role in 11 percent of Democrats. They won't feel safe where they live compared to 8 percent of Republicans. Geez, that is an incendiary thing anyway.




Real Estate Market Insights: Buyer and Seller Dynamics


My real estate muse, Ryan Lundquist, just posted something. Things for sellers to recognize about buyersIt's's important for us to remember that we're not the king of the hill anymore. Sellers are not the king of the hill.


It's still a seller's market. But buyers are being more patient about this. They're being picky. They're wanting to see good value for what they're selling. Do you need to do a turnkey kitchen new floors and new bathrooms? No, but just price your house accordingly.


If you want to spend 150, to put a brand new everything in, They'll pay top dollar for it, but Don't expect a 200 percent ROI Many buyers lack the urgency to purchase immediately, because rates are so high. They'd rather find the right house versus in 2021 when everybody was buying whatever they could because rates were so low now we have a pent-up. Need for people to move. Buyers will pay top dollar for the right house that checks all the boxes. Some buyers need help with closing costs and other expenses, especially now after the NAR lawsuit, 


These days, it's a typical thing. Buyers want to feel like negotiations are good for them. And if you had a brand new Maserati, you would offer that up as well to get a house today.


We're getting in at or just slightly above unless you're in a different part of the county. So keep that in mind. If you're thinking about selling, make sure you get all your P's and Q's done. Get your honey-do list done. If you need a handyman, let me know. Go through the inspection checklist.


It's right here. You can drop it down for free. Do a checklist, hand this to the handyman and they'll go through it and knock it out for you. And then your house will be ready to sell, or at least you'll feel better about your house being in better condition because maintenance is a constant thing.

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Mortgage Rates and Housing Prices in Santa Clara County

And when you have a house,3 30-year jumbo rates are 7. 4 today going crazy high. It's not a record high of what we saw in the last five years 30-yearr fixed was 7.94. In October of 2023, we're still seeing 7.4, and if you are FHA or VA, you're at six and a half. Something to think about.


These are quoted rates, of course, and there are always points you can add to lower the rate. 





What You Get for $2 Million vs. $1 Million in San Jose

What you get for 2, 000, 000 in Santa Clara County. This is in Colleen Drive and 95123 this is not my listing. This is 2, 000, 000 for bedroom 3 baths 2500 square feet built in 1978 and this is what the house looks like.


On the inside, original, you got the plastic Corian countertops nicely staged, freshly painted carpet and tile. So it's a basic house, but it's a nice larger house. 2, 500 square feet.

And what you get for a million dollars in San Jose, California is three bedrooms, one bath, 1, 174 square feet built in 1946. You get six photos with this, with the green kitchen, original cabinets, and dark dining room. It

Looks like it's a garage over here. You can make that into a bedroom if you wanted to, I guess, A blank slate of a backyard. Here you go. We'll see how quickly that one goes, for a million dollars. 


Current Inventory and Market Conditions

  • Inventory And Supply Charts

And inventory charts are the same. Nothing's changed since this December.

I'm not doing January yet until the end of the month But inventory is low. We need to be at about six months to make it a buyer's market. And if you look here, this is just Santa Clara County. Months of inventory were way low and the active number of homes was way too low.

And these are the individual cities. Thanks for watching. I'm Vito with Avatano. We'll see you out there.







Vito Scarnecchia

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