Is another ‘risk management’ Fed rate cut coming this week?
Is another ‘risk management’ Fed rate cut coming this week?
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Is another ‘risk management’ Fed rate cut coming this week?
Introduction: Market Speculations
Will we see a quarter-point drop tomorrow or today? I don't know. Everybody says it's going to happen. All the articles I've said is, yeah, the sky's falling. Rates are gonna fall, rates are gonna drop, Powell is going to recede another. Quarter point. That's the whole thing. Quarter basis or 25 basis points.
Is it going to happen? Well, we'll find out today. Today's the day that he actually testifies, and we'll go through it.
Big Five Earnings Reports
But here's something else that I found out is all the Big Five, NetflixApplele, Facebook, all these big companies, they're all reporting their earnings. Today and tomorrow. So that has a lot to do with what's going to go on with the stock market.
Impact on the Real Estate Market
And if the stock market tumbles, that's gonna make it really difficult for us in real estate, 'cause this is a real estate channel. This whole thing's all about how the whole world, the whole economy. Affects you as a real estate owner, whether you own a property or rent it out, or you are a commercial property owner, or whatever the case may be.
Historical Rate Trends
If you look at what the rates have done over the last couple of times. We've seen it go down, and now historically we see rates go down in October, November because the market kind of slows down. And that's what I'm showing you today in the numbers. So make sure you stay tuned. The FOMC meeting today will talk about it.
So what happens if it goes down a quarter point while we've already lowered points in anticipation that there, if you look at this right here, we've already lowered the rates in anticipation of it coming down. See? It's not gonna happen. The same thing happened here back in September, and it went down.
This was September. September came around. Boom. We're seeing the rates come down just a little bit to ensure that we make sure that rates. Stabilize the economy, not increase the value of the stakeholders or go crazy.
Current Inventory Analysis
If you look at the inventory right now, you'll see that our inventory is massively low. Not shocking. Now, granted, we've lost a good 40 or 50 bank-owned properties all across California, but not altogether.
I mean, we're looking at numbers here for the Bay Area, and they're pretty stable, but inventory is just not where we want it to be. If the rates came down crazy. Buyers would flood the market and all these properties that are on sale. By the way, we have a thousand homes for sale right now in Santa Clara County, which is actually good for the amount of demand that we have because we're seeing houses stay on the market a lot longer, and it's safer for the market to go this way.
We're in a balanced market. We're not quite yet in a ba in a buyer'ss market. There are markets out there like Austin and Florida, and St. Louis, and all these different places that I'm not an expert in. There, they are buyer's markets, but right here, sellers are holding tight. I am good with my price.
If you don't want it, we can wait. I have until March next year. I'm not in a desperate mode to sell. I don't need to sell. There you go.
Bank-Owned Properties Insight
There are houses out there that are in desperate need to sell. There are bank-owned properties. This one right here, not a lot. Mind you, these are all the distressed properties in the Bay Area, which are 76, meaning you'd have to drive here and there to get them.
And in San Jose, there are Slim Pickens. And again, look, this one on Cherry is not the greatest looking house, and he knows th, bank-owned is going to say, you know what? I don't care. You can take it or leave it. I know it's on a busy street. I know it's not that great of a house, but it's two and a half million dollars.
Now, between you and me, I know that this is way too high for that property because of the condition. I don't care if you put the fancy lights on; you look inside, it's a pretty basic house. There's not much to it.
Yeah, maybe. Yeah. You get a range, I mean, got the full kitchen, et cetera. We'll see what happens.
Investment Opportunities
Like the, but again, bank-owned properties, the way bank-owned properties are sold. Is that an investment company that will buy it, or a company that will buy it? A mid-loss mitigation service will buy not just that one property; they'll buy 20 to 50 properties.
Across the US, and then they go to the mitigation department, and they have people that are kind of like buyers, who go out and contract with real estate agents and say, Hey, I have this property here in San Jose on Cherry app. Would you do? Do you want to sell it? And we're like, okay. And then the deal is that the agent has to take on the utilities, clean out any kind of major repairs, and minor repairs. Maintaining all that stuff. They also have to take care of the HOAs in case the HOAs are in arrears. But then you put it on the market.
The loss mitigation buyer, we call 'em a buyer. That's my point of view: they're paid based on how many houses they sell that month. They want to get rid of 'em, but they also wanna maximize their profit for their stakeholders and stockholders, right? So there's this push at the end of the month, if you drop this thing down to $2 million, I'll bet you anything, you get it accepted.
Cause at the end of the month, they need to make their numbers, kinda like the car industry, which makes it really cheesy, and I don't really care for it. But hey, look, if you're looking for a deal, this is the day to do it. Go put your offer in. Let's go take a look at Cherry Ave. Drop your offer in at $2 million, and then you're off and running.
Same thing with this run here on Musk TerraceDropop an offer $500,000, right? You never know. That's how you get a good deal. If you wanna learn more about it, gimme a call. We'll walk through it. This is what it's 0 days on market, Pemba Court right here in South San Jose.
In Santa Teresa. It is right along Santa Teresa, and it doesn't back into Santa Teresa, but it's there. It's been on the market for 110 days. Three bedroom, two bath, $1.3 million. Let's take a look inside. So if you wanna make this one happen, drop this one.
Let's go write an offer for a million bucks. See what happens. 900. I know. We're insulting the agent. You're gonna insult the seller for sure, but guess what, this one is right. Over the flight path or under the flight path, and you're that much closer to the tracks, and you're that much closer to, freeway, and you're on a busy street.
So this one is a great deal for you to have. There you go. All right. Thanks for watching. We'll see you out there.
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