Should You Stay Or You Should Go?

 


 





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Introduction: Should You Stay or Sell Your House?
Are you an empty nester wondering if you should stay or should sell your house and downgrade your house to a condo or something? Well, this kinda walks you through it. I don't know if it's the best article out there, but let me open this up so you can see it.

Come on. There you go. All right. 

When to Stay: Financial and Practical Considerations

When to stay. If your mortgage is close to paid off or paid off, that means you have very low living costs. You have electricity, water, you know that kind of stuff. Cable and your mortgage are paid off. That means you have property tax insurance. That's pretty much it. It's a huge cut.

If you move, you might move to a more expensive place, and it might make sense for you. Even if you're retired, you still have to deal with taxes. I don't understand all that. I understand how it works for me.

But I can't give you advice, so talk to a tax guy. If you have bad credit, you can still get a loan. It's not gonna get favorable rates, so you have to do the math, see if it makes sense.

And this year it's been crazy. I've been working with a lot of people, and they either don't have the income or they don't have the credit, or they just can't make that move just yet. So they have to work on it, and it ight seem that I'm not doing a lot, but I'm doing a lot because I'm working with a lot of different people, helping them get into the mode of where they need to be.

If you have money to renovate and you don't want to put it on a second mortgage or what have you, if you have that money and you want to invest it in your house, then absolutely. You know, I've been here for 20-something years, probably 20, yeah, 20 years. And, every year I put money into the house, whether it's.

Five or 10,000, or a complete kitchen renovation. And that doesn't hurt as much as if I just did it in one big fell swoop, but I also did it with my style, with my quality, what I expect. You know, if you do something like get air conditioning in your house, like right now, there's no need for air conditioning or heating.

So you call up an HVAC guy, and he needs to make money, so he's gonna probably give you a better deal. He's not gonna make His whole month on one air conditioning unit install. So something like that makes sense for some people. And you get a big ROI out of air conditioning, just so you know. 

Well, if you need to stay in your, your kids are around, et cetera, you wanna watch your kids grow up or what have you, that makes sense. But your neighborhood isn't. Just your neighborhood, right? You can create living spaces wherever you go, but be careful about that. Like we'll go into something here on the price reduced tab, and I'll show you something that caught my eye when to go.

When to Move: Signs It's Time to Sell

Kids are gone. If you're an empty nester, get all your little things. The only thing that matters to me is my kids. First shoes, everything else. I don't care if it burns down; it's all replaceable. Nothing else means anything to me because I have digital copies of my photos, you know, all that stuff.

It's just clothes, it's just computers, it's just trinkety stuff. Nothing is cherished as much as my kids. Shoes. So that's just me. Not saying that's for you, but that's just how it is. You can cash out and cash in if it makes sense for you to move into another house, whether it's smaller or bigger.

If it just makes sense for you to do that, that's a good indication that you should do it. If you have that itch, renovations are too costly. Yeah. I mean. It is crazy what anything costs. Today. I just had my house painted. Granted, it was the fence and the pergola inside and outside, and some of the cabinets, et cetera, that cost me 14 grand to paint, and they still didn't do the greatest job.

So things just cost a lot of money. The neighborhood is changing. The parents would hang out at night, and the dogs would run around, and it was a fun thing. I have great memories.

I cherish those memories, and I'm not sentimental about them. I appreciate them. I know that's gone. All the kids are growing up, and they have outgrown. We've had some neighbors move out. And that's just it, right? Sometimes you don't like what the neighborhood's turning into, and that's time for you to get out.

That's a huge indicator, right? I think our neighborhood, my block especially, cause I know my block, but I know this neighborhood's still a great neighborhood and it's not changing. I think it's moving up. So that's my opinion.  







Market Trends and Insights

And then, let's see, 75% of recent and most prospective buyers. Oh, there it is. NER Pending Home Sales Report. 4% increase in August. I don't know how realistic that really is. And that's across the US year over year. We're 3.8 now. August, we're at 4% increase. Northeast, Midwest,
Southwest, 5% increase overall month-to-month. June, July, we're slow. We knew that. Talked about that a lot, and over the year it's been kind of a doldrum. So we saw a slight uptick in August, but. Nothing great. I have one house pending.

I have one house active. I have a few more coming up, and the buyer and the pending listing are kicking around a little bit. Their contingency is due I don't have any wiggle room, so we might be putting that back on the market.





Property Highlights: Deals and Listings
Los Gatos Home of the Week 

Oh, this is the price reduction of the week. It's gone down $400,000 roughly. And this is in Santa Clara. And this is a newer home built in 1993. It's in an HOA. And I wanted to bring it to you so that you can take a look at this single-family house with, two-car garage.

Kingston Place, not my listing. It's on the market, 22 days, three bedroom, three bath, 1900 square feet, built in 1993, and it has an HOA of $146 a month. Not a huge fan of HOAs, and you know that if you listen to me, but it's got a huge, tall ceiling. Looks like single-pane windows, maybe.

I'm not sure. I'd have to take a close look at it, but you have the aluminum cladding there. Simple Kitchen, which is great because if you have a fancy kitchen in a smaller home, it just doesn't work well. This funky thing, I don't know what the hell this is. Maybe it's a drop-down microwave.
Standard three-level home. Where the garage is on the bottom. Let's see if they have a floor plan. Nope. But look, this thing's on the market for 22 days, it's dropped $400,000 of signaling that they're desperate to get out. So to me, this is a great opportunity to at least go look at it and put a bid in if it makes sense for you.

That's just. Okay. And then, oh, I was gonna do this. 




Highs and Lows: Market Extremes
I'm gonna show you the Highs and lows. 19.2 million. It went 10% over list price. That's awesome. And then the lowest sole price was 102%, 500. That was a one-bedroom. High is 128 and the lowest. This is what I'm really excited about is 68.9 guys.

Deals are still ready to be had. There are still houses out there to look at. It's like you can absolutely see homes and make crazy deals on 'em if they've been on the market a long time. This one on Clayton Road, not my listing, 129 days sold for $500,000 under list price, right?

There are still houses that are selling for over because they're priced properly. Burbank Ave and San Martin. This one's sold for 500. It's a one-bedroom. I wouldn't know what to do with that one. This one is the highest-selling listed at 17 five. They obviously did it right 'cause it's sold in six days.

This house is beautiful. We can go into it, but I really wanna look at this one right here, Indiana. 9 5 1 2 3, listed at 9 9 9. Sold for 1.28, Why? Because it went. Offer. It went to, coming soon and people bid it up. However, it should have sold for one to three to one to four, not 1, 2, 8. So the buyer got a great deal.

The seller didn't have to go on the market; they didn't have to mess around with it, but it still sold. And look, it originally listed, and it was an all-cash offer, closed in how many days? Four days.







If you don't care that you get the top dolla,r and you just list it on coming so, on and you're like, I just don't want to mess around with it, boom. Done. This guy didn't do anything o, it, and they did it inside; hey, it was a pocket listing for the broker. I'm not a fan of pocket listings or coming soon or what have you. I think you need to push it out to the market, get the full exposure, because a four-bedroom should never have sold for 1.28 unless this thing was a piece of crap, right? If it were a total fixer-upper, et cetera. But whoever sold it could have made more money on it.

So let's take a look at Clayton Road. It's on the East Hills and Ala Rock. It's in the fire zone. So, for $2 million, I took 129 days to sell. And let's take a look inside. I can guarantee you that it's beautiful, but it's dated. Look, it has my, I love these cabinets. I would've painted the cabinets white. I would've done this.

And then let's go back to that $19 million one. This one is six bedrooms, six and a half baths, 8,300 square feet, built in 2008, and six days to sell. What makes this one so amazing?

What was priced correctly first? It's beautiful. It's like a Thomas skin case picture. 1990s, right? 


🔴  5 Cities Near San Jose | Moving to San Jose https://youtu.be/sDkdDq42vo8?t=46  

🔴 The Five Biggest Turn-Offs For Homeowners https://youtube.com/shorts/lwknH5DCS5c 

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Vito Scarnecchia

Real Estate Broker, Veteran, Dad

DRE#: 01407676

408-705-6817

Vitos@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!

🔴 Willow Glen's five most expensive homes https://youtu.be/3A_E2ck0ePg


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