New home listings continue slowdown

 

YOUTUBE LINK

 

New home listings continue months-long slowdown.
Homebuyer purchasing power rises in September
Wednesday Real Estate Snapshot 🦅 🌎 ⚓️ 
REO of the Week 
Apple Home of the Week  
Mountain View Home of the Week 
FREE HOME BUYER CHECKLIST HERE https://abitanogroup.com/Homebuyerchecklist
Home Inspection CHECKLIST HERE https://abitanogroup.com/homeinspectionchecklist

YOUTUBE
BLOG
PODCAST

  

New home listings continue months-long slowdown.

Introduction and Personal Rant

Word to the wise. If your dentist tells you that they wanna replace a crown that's not hurting you, or bothering yo,u or affecting you in any way, shape or form, tell them no. Just tell 'em no, say it works. If it's not broke, don't fix it. For years, my dentist harangued me and pushed me and sold me on the idea that I need to replace my crowns every, whatever, 10 years or so

and I pushed it off, and I pushed it off. And finally, I relented. And I had three crowns replaced and six months to the day, plus or minus, one of my crowns that was replaced, cracked, popped right off pain in the ass, called 'em up, said, Hey, popped off. You need to fix it. It wasn't a big deal, but it was a pain in the ass, right?

It was painful. My. The nub of a tooth was raw, and it was painful. Got that done. A year later, I don't know if you can see it, but another one popped off. It broke. It actually cracked

Real Estate Market Overview

I have two stories today that I want you to understand what's going on. One is talking about how the listings are continuing mwith a months-longslowdown. We'll go into that. But then the other one, the home buyer purchasing the property. Rises in September. We're in a battle right now. The sellers are. Struggling to let loose of their dominance of the market. They're, refusing to say, my house is not worth what I thought it was worth. I'm going to sit here and wait for the right buyer to come along. I know that I have two listings right now.

Buyers can be picky. Sellers can hold out. They're not in a desperate situation. And it's for us to say, Hey, look, if we wanna make this deal happen, we have to be a little aggressive and figure out where the middle ground is and let things loose.

And we talk about that on the buyer side and on the seller side, a lot of sellers are still very, very stubborn about what's going on right now.  When it says it's slowing down, it means that we're losing inventory. Prices are, for the most part, going up in different parts of the county, in different parts of the Bay Area, but in different areas like Napa and Santa Cruz and San Benito counties, we're seeing massive contractions.

 It's just a natural evolution of what's going to happen if we do go into. A buyer's market right now, we're still balanced here in different parts of the country. It's not so balanced. It's a buyer's market. And when you look at these articles, realize that they're written for all of the us, all of America, and it's affecting us on a grand scale.

each zip code. Almost has its own little micro economy of what's going on  in real estate, right? It's just like when you buy stocks or gold It goes up and down daily because the market goes up and down daily here. The interest rates go up and down daily. 

Interest Rates and Market Trends

We're seeing a downward trend for the interest rates.

We don't think we're gonna see anything come December when the feds testified, we thought months ago that we were gonna get three total  rate reductions, quarter point each to slowly bring the economy down to a non-inflationary point. But now we're saying, I don't know. I don't know if we're gonna get that.

Last quarter points. So buyers are holding back, holding fast, right? You can get rates down below 6% by buying a point. Buying a point is 1% of the loan, right?  What if we give the seller what they want, which is technically the price? It's an ego thing for the seller to say, I sold my house at this price, but you need to get to a certain payment level.

if we drop the rate. Your payment level should come down on my Hayward listing and got, somebody said he wanted to buy the house, but he can only afford $4,000 a Month. he's looking at six at where it is now. it was a VA loan. No money down. Didn't have any money down. He's a renter and he's I need to keep it around four.

I'm like we can get you up to five and you still get write offs, et cetera. But you also have to understand that we can drop the rate, we can give you points, we can give you the price and give you concessions, like let's say 2% to drop the rate down to get it close to your 45 to $5,000 a month. All in.

So that's the way it has to be. Now, the buyer, he's comfortable in his $4,000 a month payment, which I get when you jump it up to five or six. It's. 25, 50% more than what you're used to paying. It's painful. I get it. But that's, the cost of doing business today. If you're gonna be a buyer, that's where you're looking at, right?

That's unaffordability at its best. So buyers can be picky. They can say, I'm gonna wait until I see what I want. And sometimes that's the price come down. Sometimes it just, it goes to 60 days and then you can put an offer on it. See what happens. Sometimes it's just price and concessions, and you have to make it all work together so that both the buyer and seller are happy.

And that's what we do. that's what we're doing successfully. You know, let's see. Today's Wednesday, we do it 145 times a week. It just is. It is what it is, right? So there you go. It is what it is. Nothing crazy is going out except for res or going down.

Current Inventory and Market Conditions

That means bank owned properties are not, the inventory and bank owned properties are going down as well, and our inventory is shrinking, meaning buyers have less to look at. Buyers can be picky, but know that what is out there, it might not fit their needs. They might have to wait a month or two or wait until spring.

So when you look at the San Jose chart for sale, you're seeing the inventory go down, which is natural. After April, which is the end of the selling season, March, April, may, the inventory goes down. Sales kind of. Dwindle down as well. It's the same thing as Santa Clara County.

Inventory goes down as this report says right here.

rates are going down, but so is inventory. So buyers are kind of in a conundrum. 

Conclusion and Upcoming Content

All right, that's it for now. I'm actually gonna do another video right now for Thursday, which is tomorrow, but I'm leaving. I have to go down to Valencia to help a buddy buy some property.

So there you go. That's it for now. I'll see you in a couple minutes on the next one. I'm Vito with thanks for watching. We'll see you out there.

 

🔴 Insurance Adjuster What You Should Know https://youtu.be/8IWgof1qvnc

🔴 Renters losing MORE than Rent! (Bay Area Median Home Prices) https://youtu.be/VwLrwX2YuHo?t=41

🔴 MoonBeans Coffee https://www.youtube.com/watch?v=OmHpGXVu5sQ&feature=youtu.be

Videos edited by Vydeoease.com Use Exemption code VEASY

Vito Scarnecchia

Real Estate Broker, Veteran, Dad

DRE#: 01407676

408-479-2427

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

#BedlamWhereChaosResides, What should a realtor do to sell your house,What should you not do when selling a house,Why is home not selling,Is it better to sell as is or fix up,Home much money is lost when selling a house,Is it bas to sell a house as is,Where should I sell my house for money is 2021,Is money from the sale of a house considered income,Do you get all the money when you sell your house,Do you have to buy another home to active capital gains,What happens when you sell a house and make a profit,Can I sell my house and keep the money ,What month is the best to sell a house,How much money do I keep when I sell my house,How to I avoid paying taxes when I sell my house,How do I sell my house in 5 days,Whats the quickest way to sell a house,How can I sell my house quickly ,Is it better to sell my house or rent it out,How do I sell my house in 30 days,What does teh seller have to pay when selling a house,How p[ays closing costs on for sale by owner ,Who pays the title company at closing,Who pays for appraisal buyer or seller,How do I calculate my closing costs as a seller,Can a realtor lie about other offers,Do sellers always pick the highest offer,Can ou sue a real estate agent for lying,How do you make sure your offer is accepted,Can buyer talk to seller directly,What do you say when you reach out to a realtor,Do you tip your realtor,Why do realtors now want buyers and sellers to meet,Do I have to pay my realtor if I decide not to sell,Can you work with multiple realtors,Can you fire your real estate agent,Are realtors rich,Should I interview multiple realtors,Are you obligated to a real estate agent,What should I do to my house before selling ,What sells a house fast,What brings more value to a house,What features sell a house,What to do if a house is not selling,Do vacant homes sell faster,What are the worst months to sell a house,Which month is best to sell a house,Is 2021 a good year to sell a house,What adds most value to a home,How can I increase my chances of selling my house,What makes a house harder to sell,What brings down property value,What are houses not selling 2021,What adds teh most value to a house,What is the most common reason a property fails to sell,What should you not fix when selling a house,What adds teh most value to a house,Does Zillow pay fair prices for homes,How to I sell my house that need repairs,Do sellers have to fix everything on home inspection,Can you sell your own property as a real estate agents,Does a realtor make money on a for sale by owner,Can I use a real estate attorney instead of an agent,Can I be my own buyers agent,Do real estate agents make more than lawyers,Do realtors get paid if a house doesn’t sell,Do agents get paid for open house,Can I ask my realtor to take a lower commission,How much does a real estate agent make monthly,Which real estate agent has the lowest commission,Can I represent myself as a real estate agent,Do brokers make more than real estate agents,Can you bypass a real estate agent,Can I represent myself in buying a house,Can you buy a house yourself,Do Realtors get commission on for sale by owner,Is it better sell your house by owner or realtor,How do you negotiated for sale by owner,Is it hard to sell a house without a realtor,Can you ask a realtor to take a lower commission,What home improvements add the most value,What should you not fix when selling a house,What color carpet is best for selling a house,Which home renovations are your best investments,Which home improvements pay off,What is the best way to renovate a house,What is the most expensive part of a kitch remodel,What home improvements do not add value,Is a 4 bedroom house worth more than a 3 bedroom house,Do home improvements increase value,What features sell a house,What order do you renovate a house,What renovations are worth doing,Is it better to renovate or move,Is it cheaper to renovate or build new,How much does it cost to fully renovate a house ,What should I renovate first,What makes property value increase ,What negatively affects home appraisal,Do home appraisers look in cabinets,Do appraisers look in showers,What matters in a home appraisal,How can I maximize my home appraisal,Is land a good investment 2020,Is buying land a building a house cheaper,Is it better to buy land first,How to I buy money with no money,Is land a bad investment,Does age of house affect value,Are 100 year old houses safe,What is the average age of a house,What age is a house considered old,How do I price my house,How is property value determined,What are the 5 methods of valuation,How do I determine fair market value of my home,How does a bank value a house,Why is my tax assessment so high,What brings down,calhoun.savingmoneyonhomes.com

95035,95123,95020,95127,95014,95051,95111,94087,95112,95125,95023,95122,95037,94550,95116,95124,95136,94086,95148,95008,94303,95050,95132,95120,95129,94040,95121,95128,95126,95118,95131,95070,94043,95134,95032,95117,95133,94306,94089,95054,94085,94024,95135,95110,95138,94022,94301,94305,94041,95030,95130,94090,95119,95033,95102,94310,95139,95046,95171,94028,95142,95114,95113,94304,94308,95140,94035,95141,95053,95101,95137,95002,95196,95009,95011,95013,95015,95021,95026,95031,95036,95038,95042,95044,95157,95156,95159,95158,95161,95160,95170,95164,95172,95190,95173,95192,95191,95194,95193,94302,94309,95052,95056,95055,95071,95106,95103,95109,95108,95115,95151,95150,95153,95152,95155,95154,94023,94039,94042,94088,94080,94015,94014,94303,94403,94025,94066,94010,94061,94044,94404,94063,94401,94070,94062,94002,94402,94030,94019,94405,94409,94065,94407,94408,94098,95006,94071,94027,94099,94012,94031,94003,94067,94028,94005,94029,94037,94406,94096,94060,94020,94045,94038,94059,94021,94074,94128,94013,94307,94011,94016,94018,94017,94497,94026,94064,94083,94125,94544,94536,94538,94587,94541,94501,94568,94539,94601,94550,94577,94560,94546,94551,94605,94566,94611,94588,94621,94578,94606,94555,94545,94608,94602,94610,94603,94580,94704,94607,94619,94609,95391,94579,94703,94625,94552,94706,94643,94618,94702,94502,94612,94542,94705,94708,94707,94709,94710,94720,94627,94586,94514,95140,94615,94557,94604,94613,94537,94540,94543,94614,94617,94620,94622,94624,94623,94649,94660,94659,94662,94661,94701,94666,94712,95076,95060,95062,95003,95066,95064,95073,95033,95065,95010,95006,95018,95005,95019,95017,95001,95007,95041,95061,95063,95067,95077,

Santa Rosa Real Estate,Petaluma Real Estate,Rohnert Park Real Estate,Sonoma Real Estate,Sebastopol Real Estate,Windsor Real Estate,Healdsburg Real Estate,Cloverdale Real Estate,Cotati Real Estate,Calistoga Real Estate,Forestville Real Estate,Guerneville Real Estate,Penngrove Real Estate,Glen Ellen Real Estate,Geyserville Real Estate,Occidental Real Estate,Kenwood Real Estate,Cazadero Real Estate,Fulton Real Estate,Monte Rio Real Estate,Bodega Bay Real Estate,Stewarts Point Real Estate,Jenner Real Estate,The Sea Ranch Real Estate,Bodega Real Estate,Graton Real Estate,Annapolis Real Estate,Valley Ford Real Estate,Duncans Mills Real Estate,Camp Meeker Real Estate,Concord Real Estate,Richmond Real Estate,Antioch Real Estate,Pittsburg Real Estate,Walnut Creek Real Estate,San Ramon Real Estate,Brentwood Real Estate,Danville Real Estate,Martinez Real Estate,San Pablo Real Estate,Oakley Real Estate,Pleasant Hill Real Estate,Lafayette Real Estate,El Cerrito Real Estate,Hercules Real Estate,Orinda Real Estate,Pinole Real Estate,Moraga Real Estate,Alamo Real Estate,Clayton Real Estate,El Sobrante Real Estate,Discovery Bay Real Estate,Rodeo Real Estate,Kensington Real Estate,Byron Real Estate,Crockett Real Estate,Bethel Island Real Estate,Diablo Real Estate,Canyon Real Estate,Port Costa Real Estate,Napa Real Estate,American Canyon Real Estate,Saint Helena Real Estate,Calistoga Real Estate,Angwin Real Estate,Yountville Real Estate,Pope Valley Real Estate,Deer Park Real Estate,Napa Real Estate,American Canyon Real Estate,Saint Helena Real Estate,Calistoga Real Estate,Angwin Real Estate,Yountville Real Estate,Pope Valley Real Estate,Deer Park Real Estate,Oakland Real Estate,Fremont Real Estate,Hayward Real Estate,Berkeley Real Estate,San Leandro Real Estate,Livermore Real Estate,Pleasanton Real Estate,Alameda Real Estate,Union City Real Estate,Dublin Real Estate,Castro Valley Real Estate,Newark Real Estate,San Lorenzo Real Estate,Albany Real Estate,Emeryville Real Estate,hayward real estate,Piedmont Real Estate,Byron Real Estate,Sunol Real Estate,Canyon Real Estate,Farwell Real Estate,Brookshire Real Estate,Concord Real Estate,Richmond Real Estate,Antioch Real Estate,Pittsburg Real Estate,Walnut Creek Real Estate,San Ramon Real Estate,Brentwood Real Estate,Danville Real Estate,Martinez Real Estate,San Pablo Real Estate,Oakley Real Estate,Pleasant Hill Real Estate,Lafayette Real Estate,El Cerrito Real Estate,Hercules Real Estate,Orinda Real Estate,Pinole Real Estate,Moraga Real Estate,Alamo Real Estate,Clayton Real Estate,El Sobrante Real Estate,Discovery Bay Real Estate,Rodeo Real Estate,Kensington Real Estate,Byron Real Estate,Crockett Real Estate,Bethel Island Real Estate,Diablo Real Estate,Canyon Real Estate,Port Costa Real Estate,Petaluma Real Estate,San Rafael Real Estate,Novato Real Estate,Mill Valley Real Estate,San Anselmo Real Estate,Sausalito Real Estate,Corte Madera Real Estate,Tiburon Real Estate,Fairfax Real Estate,Kentfield Real Estate,Larkspur Real Estate,Ross Real Estate,Belvedere Real Estate,Bolinas Real Estate,Nicasio Real Estate,Point Reyes Station Real Estate,Dillon Beach Real Estate,Woodacre Real Estate,Lagunitas Real Estate,Inverness Real Estate,San Quentin Real Estate,Tomales Real Estate,Marshall Real Estate,Olema Real Estate,Stinson Beach Real Estate,San Geronimo Real Estate,Blakes Landing Real Estate,Salinas Real Estate,Watsonville Real Estate,Seaside Real Estate,Monterey Real Estate,Soledad Real Estate,Marina Real Estate,Greenfield Real Estate,King City Real Estate,Carmel-by-the-Sea Real Estate,Pacific Grove Real Estate,Gonzales Real Estate,Castroville Real Estate,Carmel Valley Real Estate,Aromas Real Estate,Moss Landing Real Estate,Del Monte Forest Real Estate,Big Sur Real Estate,Del Rey Oaks Real Estate,Bradley Real Estate,Chualar Real Estate,Sand City Real Estate,Jolon Real Estate,San Simeon Real Estate,San Ardo Real Estate,Lockwood Real Estate,San Lucas Real Estate,Hollister Real Estate,San Juan Bautista Real Estate,Aromas Real Estate,Paicines Real Estate,Tres Pinos Real Estate,San Francisco Real Estate,San Mateo Real Estate,Daly City Real Estate,Redwood City Real Estate,South San Francisco Real Estate,San Bruno Real Estate,Menlo Park Real Estate,Pacifica Real Estate,Foster City Real Estate,Burlingame Real Estate,San Carlos Real Estate,Belmont Real Estate,East Palo Alto Real Estate,Millbrae Real Estate,Half Moon Bay Real Estate,Hillsborough Real Estate,Woodside Real Estate,Atherton Real Estate,Portola Valley Real Estate,Brisbane Real Estate,Emerald Lake Hills Real Estate,Moss Beach Real Estate,Colma Real Estate,Pescadero Real Estate,La Honda Real Estate,Montara Real Estate,San Gregorio Real Estate,Loma Mar Real Estate,San Jose Real Estate,Sunnyvale Real Estate,Santa Clara Real Estate,Livermore Real Estate,Mountain View Real Estate,Milpitas Real Estate,Palo Alto Real Estate,Gilroy Real Estate,Cupertino Real Estate,Morgan Hill Real Estate,Campbell Real Estate,Los Gatos Real Estate,Los Altos Real Estate,Saratoga Real Estate,Stanford Real Estate,Los Altos Hills Real Estate,San Martin Real Estate,Monte Sereno Real Estate,Lexington Hills Real Estate,Mount Hamilton Rea