This Week's Winners and Losers - 12 County Bay Area Real Estate Report
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Over One-Third of American Workers Are Delaying or Canceling Major Purchases Due to Job Security Concerns
The Best Ways to Save Money on a Bathroom Remodel
PROBATE AND ESTATE SALES
Cupertino Home of the Week
Willow Glen Home of the Week
Luxury Home of the Week
How your Home will be Marketed
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More than one third 36% American workers are delaying or canceling major purchases like a home or car due to their feelings about job security, according to the new survey.
Job Security Fears Rise
Alright, why is this? Well, most American workers are confident about job security, but 33% aren't in comparison. 27% now say they're either somewhat concerned or very concerned about job concerns.
Job security because of the economy and AI; they think their job is possibly going to go away due to AI. Nearly one in three workers is more concerned about job security now than six months ago. Yep. Becomes more and more prevalent as the economy tightens up.
AI and Economy Anxiety
Company performance and ar AI are top reasons for job insecurity. Roughly three in 10 to 30% workers are concerned about job security, citing their company's performance as their primary reason. You could be with a big Fortune 500. Or mom and pop, we're all getting hit the same, right? So, currently, ly the most cited reason for job security concerns is the impactful or artificial impact of artificial intelligence, followed by government restructuring efforts. You know, whether you like to talk about the fraud and all that, it is putting a dent in the economy, right?
I mean, it's hitting California pretty hard because billions of dollars were going into the economy, some way, some form, and yeah, it's not good that they were defrauding the government and our tax dollars, but that was going towards buying houses and buying impactful, like large, large purchases, right?
Not for it. I think it's abhorrent that they do it. I think the massive amount of fraud that's being unravel, un, un uncovered, unraveled is going to affect the economy. California is the fourth-largest economy in the world. Right. So I think there's a lot of stuff going on there, too.
Right.
Emergency Funds Reality
A slim majority of American workers have an emergency fund and a housing PA for housing payments. I mean you, you know, in real estate. You go through dry period, dry periods, and you figure it out. You learn after 23 years that you have, yeah, I know that there's business coming in, but it might be three, four months before I get a close, so you just have to deal with it.
Right. You just have to deal with those costs as time goes by and put the money away, and yeah. Oh my God, you make so much. No, you don't make a ton of money. But you also have taxes, and you have to pay your broker, and you have professional dues, and you have covering costs. You have to do marketing like what I'm doing right now.
Saving and Money Resources
So the point is, you can live below your means, not go on vacation, and sometimes you don't go on vacation for a year, and you take that money, and you put it towards an emergency fund because you didn't over the last couple of years. So if you have questions about how to save money and all that, we have another podcast called Financial Intelligence, and you're very welcome to go see it.
It's on YouTube, it's I'll put it into my blog so you can come and jump on it and take a look at it. But it goes through all things, from investing to things that I didn't know where. I have my banker, and I have a financial advisor. I have accountants come in, and we ask them questions, and they just learn stuff, and it's all about that.
The Best Ways to Save Money on a Bathroom Remodel
Bathroom Remodel Savings
So yeah, we could all use the best ways to save money on a bathroom remodel. Well, here's the thing: don't change the footprint. That's going to be a big thing. Primarily because if you do any movement change, any structural change, it might require a permit.
I'm not a contractor. I'm not giving you contracting advice or permit advice. I'm just saying it might. Require a permit if you replace a toilet or a sink. It depends on your jurisdiction. So you have to call your pre, so how do you know? You call up a plumber, you call up a contractor, or you call up the permit department, saying, Hey, I'm thinking about doing this to my house.
Does it require a permit? And if it does, then you're going to be spending a lot more money on that. Just keep that in mind, right? One permit could do an entire footprint or an entire bathroom remodel. But just be aware that sometimes it might require a permit.
If you move plumbing or structure, structural, or cabinets, or whatever is going to cost you more. So if you don't like the way it looks, you think the toilet should be there instead of there. Or the shower should be that much bigger. Or you could have four boxes for cabinets instead of three. You might be looking at more cost.
DIY Timeline and Patience
Give yourself time and be patient. I've done multiple, multiple bathroom remodels in my life, and they're not difficult. They're just time re trying to take time. And you do have to be patient because while you might tear out a cabinet and put new cabinets in, you still have to wait for somebody to come in with the counter, unless you're doing the counter yourself.
And then if you're gonna do tile, you have to tear out the tile and then set the tile. You put your subfloor in there and make everything done, and you do the tile, and you have to wait, and it's gonna take a couple of days for it to be done. That means you can't use the bathroom until that's all done.
And then you have to grout it, and you have to polish it, and you have to seal it, and you have to do all this stuff for it. So you give yourself some time. And if you're doing it yourself, you're doing it at nights and weekends, and it's going to take a little bit longer than if you had a DIY contractor coming in to do it.
Refinish Cabinets Tips
Refinish instead of replace this, taking the cabinet,s replacing the door, nd the drawers, and the poles,s and the. Little roller things. Replace all of that, repaint it, and you're saving money. It's gonna cost you about 60% of what it would be to replace the boxes, but it's still something to think about 'cause you're, you're saving money if you're okay with old, the old wood, the old boxes, the old format of how that's set up.
And again, be realistic with what you can do. YouTube is amazing. Instructor, Pretty cool.
Pretty amazing stuff. So just keep this in mind that you can do this right. Let's give Jamie a big five stars because this is a good article. I do the project management. I don't necessarily swing hammers anymore. I'm not afraid to, but it just doesn't make sense for me to do the hammer swinging stuff anymore.
I come in, and I manage the project for you as a real estate professional. Kind of acting like a general contractor, but you're not paying me because I'm not a general contractor,r and I bring bids and I manage time. I manage all that stuff, but I also dthe cleaningan out. I also handle the estate sale and all that other stuff.
So if you have a house that's coming up that your parents are leaving behind and you don't want to keep it, or even if you want to move into it and you need to do some remodeling, then that's what we do. Let me know. Happy to help you on that.
Cupertino House Review
Cupertino House of the Week. Remember what I said about location, right?
Cupertino? Oh, they have great schools. Oh, it's close to Apple. OH, really expensive. $3 million for a three-bedroom house. Okay, that sounds right. This was built in 1968. We'll go into it in a second, but I wanted to point this out.
Location, right on two freeways. You are going to get not only a lot of noise, motorcycles, and a bunch of traffic running through back and forth, but you're gonna get a lot of dust. And I know it might feel like you're far away from it, but you're still going to be getting dust in dirt and hazardous materials.
So $3 million for a cup, a house in Cupertino. I don't think it's a buy for this because of the location. It might be in great condition. It has a pool lo, and then you have a big backyard that you can use.
But it's been lipstick frosting on a cake. See, and you can tell because they have this thing right here that should be a pony wall. That fireplace is old, OAF. The kitchen looks nice, nicely remodeled. That's nice.
Let's take a look. Yeah, so it's a pretty house, 3 million bucks, but I guarantee you're gonna be dealing with chemicals. Looks like it's a big bedroom. Looks nice. I tell you. A stage room, a staged house, it looks so much better. So good for you. Did they do a floor plan?
Yay. They did a floor plan. Thank you for doing that.
Nice. 1, 2, 3. And you can turn this into your family room, dining room. Open that up. But then I would close this off and make it into a fourth bedroom slash office slash whatever. And the reason why I would do that is that you get a lot more out of a four-bedroom than you do a three-bedroom.
That's just me. Okay.
Willow Glen Pick
This is Willow Glen, house of the week. $3 million, four-bedroom, three-and-a-half bath. Built in 2020 to 26 to 2,700 square feet, and it's within walking distance to downtown Lincoln Ave. Let's take a look at the pictures. This is nice. This is a pretty house, but it's brand new, right? I mean, people bought the land, tore down the house, and put this on there. This is kind of funky looking. And let's see, they have a detached garage.
Yeah, I'm not a fan of that, but that's old school. That's old world right there. You have a little patio hangout here.
There you go. All right.
Atherton Luxury Tour
And then this is Luxury Home of the Week. $25 million for PMOs, not my listing. This is in Atherton, an eight-bedroom, nine. In two half baths, 11,000 square feet, 1.4 million or 1.4 acres built in 1922. This one looks familiar, but I don't think I've seen it. Wow, that's an old school charm.
That's a lot of dark. Dark wood right there.
So this is a coffered ceiling. I think this is a tray ceiling, a coffered ceiling. The difference is coffered. Has all the little woodwork inside there and a tray ceiling. This has a lot of, so I'd argue this is more like a tray ceiling. That's funky looking, but yeah. And that's your basement, which is still nice.
I don't, it feels low to me, but what do I know? There you go. All right. No floor plan. That's okay.
FREE HOME BUYER CHECKLIST HERE https://abitanogroup.com/Homebuyerchecklist
Buyer Checklist Download
If you are going to buy a house. Soon, download this Checklist. It allows you to go to multiple houses and allows you to see the compare and contrast the differences between each house that you go to because it kind of blends in.
And I designed this so that you, when you go to five or six houses, you can go and take a look at every little nook and cranny, write it down, write the notes, and it gives you a little mental picture. Blast to go, oh, yeah, I need to look at the windows. I need to look for cracks. I need to look at the air conditioner or what have you, so you know what you're buying.
I think the market's just kind of trending and slowing down right now. So Santa Clara, we're at 21 days on average. For a house, and we've sold $5 billion worth of real estate so far, year to date in 17 weeks. And then the average sales price in Santa Clara County is$2.4 million4, and in San Mateo is $2.8 million, and the median sales price is at $2 million.
So if you have something under $2 million, then you shouldn't be complaining. There you go. All right, that's it for now. Thanks for watching. I'm Vito with Abano. We'll see you out there.
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Vito Scarnecchia
Real Estate Broker, Veteran, Dad
DRE#: 01407676
408-705-6817
Vitos@abitano.com
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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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