A Real estate crash is imminent. - Says Reddit | Cancelations are up! Wednesday Real Estate Snapshot 🦅 🌎 ⚓️

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A Real estate crash is imminent. 
PROBATE AND ESTATE SALES 
REO of the Week 
Apple Home of the Week 
Mountain View Home of the Week
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Eight Gross Home Clues

These aren’t deal-breakers… but they’re clues 👇

1️⃣ Hard water rings in toilets and sinks – This isn’t “Ontario water.” It’s neglect. Buyers don’t see minerals. They see maintenance habits.

2️⃣ A mystery smell no one can explain – When everyone shrugs and says “you get used to it,” that’s a red flag. In a cold Canadian winter, trapped odours get amplified.

3️⃣ Bathroom fans that don’t actually vent outside – Steam + -10° weather = moisture problems waiting to show up in an inspection report.

4️⃣ Caulking that’s black, cracked, or peeling – Small detail. Big signal. If this wasn’t handled, buyers assume the bigger stuff wasn’t either.

5️⃣ Furnace filters that look ancient – In Canada, HVAC matters. If the system looks ignored, buyers assume costly replacements are coming.

6️⃣ Peeling paint around windows – Our freeze-thaw cycles are brutal. If the trim is deteriorating, buyers think of water intrusion.

7️⃣ Grimy light switches, door handles, stair railings – High-touch areas tell the truth about how a home is treated.

8️⃣ Dryer vents packed with lint – Not just gross. A real fire hazard. Buyers notice safety issues fast.

Most homes don’t lose value overnight.

They decline through small, ignored patterns.

And when buyers walk through a house, they’re not just admiring the

All right, let's go through this real quick. Eight gross things that tell me your home isn't being maintained. And yes, every real estate agent that's worth their salt... Every real estate agent who is worth their salt will go through there. I just got off the phone with an agent whom I don't know, kinda crazy, crazy.

Not saying she's cra- I don't know. I'm not saying she's crazy, but she just... I don't know if she knows the process. So anyway, these aren't deal breakers, but they're clues. Now let's go through it real quick. 

Hard Water Rings

Hard water rings in toilets and sinks. This isn't Ont- now this is Canad, but water is water.

If you see neglect, it rings loud and true, right? Not this, that, but it's also hard water. If you see rings in the toilet or in the sinks or anywhere else, it's a clue you're not maintaining your house. When you send-- when you ask for a realtor to come and do a listing presentation for you, you wanna make sure your house is in the best possible light.

It doesn't have to be perfect 'cause we know how to fix those things, right? But let's make sure that it's professionally cleaned or at least very clean, right? 

Mystery Smells Warning

A mystery smell no one can explain. Whenever ev- when everyone shrugs and says, "You get used to it," that's a red flag. In a, in c- even in hot weather or moderate weather, it doesn't matter.

If you have a smell, it needs to be handled. It could be a garbage can, it could be a garbage disposal, or in Canada, they call them Garburators. Something you probably didn't know unless you're from Canada, eh? A Garburator, or sewer, or drain, or a wall, it doesn't matter. If something is festering, you know the smell.

Don't get used to it, 'cause that will turn off buyers really quick. 

Bathroom Ventilation Issues

Bathroom fans that don't actually vent outside. Tender steam, plus or minus, or plu- steam plus ten degree weather. Now that's Celsius. In Fahrenheit, that'fourteen degrees. That's freaking cold. Moisture problems waiting for you to show up in an inspection report.

Yeah, in the cold where it freezes, you have to worry about freezing. You don't have, we don't have to worry about that in California for the most part. Up in the mountains, you do. I've had pipes break in my cabin that I had years ago. But it's true. You never know, right? Smells need to be handled, and we know how to take care of that.

There's pest control, there's drywall, there's handymen, there's all sorts of different possibilities. Fans need to be working. You need to clean out the fans, period. You see the dust festering around the fan, so that's a clear indication that you're not maintaining your house. 

Caulk and Moisture Signs

Caulking that's black, cracked, or peeling, small detail, but big signal.

Absolutely. That should be done every year, especially if you have it rotating all the way through. And what it's indicative of is water moisture problems behind the tile, behind the bathtub, behind the... whatever the tile is. If you have black gunk happening all the time, there's an issue behind that.

HVAC Filter Neglect

Furnace filters that look ancient, yes, you have to change them out every six months, and there's a reason why. For the efficiency of the HVAC system, heating, venting, air co- air conditioning, absolutely. My parents' place just cost 500 bucks for us to get that fixed 'cause they didn't clean the filters, they didn't maintain it right, and it needed a new capacitor, on top of some other things.

Paint and Touch Points

Peeling paint around windows or frieze. Yeah, but if you see paint or caulking that's peeling, there's some kind of moisture issue going on around your windows or your doors, especially if they're outside, right? Grimy switch plates, door handles, stair railings, and high-touch areas tell the truth about a home, how it's treated.

There's something called melanine. It's like a white sponge. It'll take that stuff right off. It takes off the grease, the dirt, all sorts of stuff. It just naturally occurs 'cause you touch stuff, and then you cook, and then you touch more stuff. And it's not that you're filthy, it's just, you just let it go and you don't think about it.

Dryer Vent Fire Risk Eighth, dryer vents are packed with lint. Oh, yeah, that's a bad one, guys, and that's the number one reason why houses catch on fire. Absolutely crazy. It's a huge fire hazard, and some ins- insurance companies tell you that they will not cover that. They'll give you a hard time if they notice that the fire started at the dryer vents.

Clean your dryer, vents, and clean all that stuff, guys. It's just for the health of your life and your house. Okay? Eight gross things that tell me your home isn't being maintained. There you go. 

A Real estate crash is imminent. 

Crash Talk Global Signals

Real estate crash is imminent. Now, look, this is from India, full disclosure, but here we are looking at it from a place where...

Why am I bringing this up? Because we live on a house of cards, right? The globe is a house of cards today. We're a global economy. Our housing market is affected by the gas prices, which are affected by the Iranian, the Iran war, which is affected by whatever, right? The stock market and unemployment, all this other stuff, it's global, so keeping an eye out on what's going on is really important for all of us to understand what's going on in the world.

Not the politics, but understand what could happen to you. So this one's talking about home loans being less dispersed, meaning fewer home loans is being funded, right? Areas with four to five thousand square feet are buying... So it's being overpriced, being sold at eight to nine thousand square feet, right?

That means it's overpriced. When something's overpriced for too long, there's going to be a comeback, right? SBA versus SAC, that's square footage. Again, it's the same thing. If it's being written, obviously there's probab- maybe that's appraisal fraud or loan fraud there, which could happen, who knows?

Higher construction costs are there. It's higher expenses, but our construction costs have actually come down quite a bit in the last five years, so that's a good thing, right? Who will be affected? Tier one flat owners all the way down to tier two. It could be tier two. It depends on where you are.

But if stuff happens, it could affect a lot of people, and then that could tumble into a house of cards, right? And that's why this is important for us to understand. How many crashes? It's not going to thank two thousand and eight. Yesterday we talked about the oncoming foreclosure epidemic, and while we know that's...

The funding is there, the equity is there, it could happen, but we just don't have that many pre-foreclosures rolling it out. That's what he's saying there. It could be because it could be completely overbought, oversold, right? We talked about China doing that with all the apartments. So it's something that you have to be aware of about global real estate that affects everybody.

So just be aware that coit could be one of the things of the house of cards. 

PROBATE AND ESTATE SALES 

Probate and Estate Help

house... Probate sales, we talk about that. Even if your parents are going into an an adult, an active adult community, and you need to offset your house, you need to sell your hou- your, childhood home or your parents' home, let us know.

We can come in and fix things up, take care of stuff, get rid of... Do an estate sale. We have a bunch of people on that team who can help you out with that kind of stuff, and we can get everything done pretty quick. You're not gonna make a bazillion dollars off the estate sale, especially with older furniture, but just realize that, right?

Talk about that all the time. 

Buyers Market Check

Becoming a buyer's market? Not yet. I don't think we're gonna do it here in Silicon Valley, but there are other areas, like San Leandro is a buyer's market. Hollister is a buyer's market. Santa Cruz is not so much, but down the coast, around the Monterey Bay, yes, there are some buyer's markets that are coming up.

Just be away... Be aware. And if you're interested in doing this, the link is in my blog. Take a look. 

REO of the Week 

Distressed Deal San Leandro

This is the distressed sale of the week. This is in San Leandro. It's the only bank-owned property in San Leandro right now, but it's $700,000 for a two-bedroom, one bath built in 1951. This is a World War II-era house.

I sold a couple of houses right down the street from here, and those are some great photos. That's so awesome that they took those types of photos. That means the occupants, the former owners, are still living in it. When you see this little thing right here, it means it's a real estate owned. There you go.

That's it. It's a good property. It's just been on the market for 20 days, and it's really close to the bay, so you don't have a lot to worry about. And yeah. 

Mountain View Home of the Week

Mountain View Home Pick

And then this is Mountain View Home of the Week. T-two point, $2.4 million for a house versus $600,000 for a house. Four bedroom, three bath, 1,700 square feet, built in 1940.

Completely built out, but it has a small lot. The only good thing it has going for it is its walking distance to downtown Castro Street. And here are your pictures. It's a nice house. It's not like gargantuan or anything, but this is what you get for $4.5 million. Which was it? 200... 2, $2.4 million in Mountain View, which actually is not that bad of a price, 'cause I know that they usually go for about $4 million, butt you can see why, 'cause while things have been maintained, these are a little bit dated. There's nothing wrong with that, right?

There you go. And I like the fact that you're... You probably have pretty decent parking. Let's see what the map looks like real quick. I know we looked at it, but let's take a quick look.

Yeah, so you're right on Franklin Street. There's like a park right here. That's a park right there. So I've driven around here, but you're walking distance to Castro Street, so fine dining, fun dining, meet your friends there, have a good time. Nothing else is going on right now. 

Market Stats and Inventory

Things are slowing down just a little bit, and inventory is normalizing at 1,400.

I think we've hit the peak, right? We've hit the peak. We're at- We're seeing the numbers, the days on market go up a tad bit, but nothing crazy. We've seen those numbers go up just a tad bit here and there. And then bank owns are pretty much stabilized. The same thing with San Jose. We've had seven hundred and two for sale right now.

Seven hundred eleven was May two thousand twenty-five. And right now... So we haven't really peaked over for San Jose, but in Santa Clara, we definitely have. Two thou- twelve hundred fifty-two versus, oh, no, fourteen hundred. So that's misleading. Oh, wait. Maybe that number was... Fourteen fifty-six. So we did peak in April,l but I think the numbers are gonna come down here a little bit.

We only have a few more weeksleftt and then that's it. 

Rates Shift Season Bust

So what I'm saying is this selling season has been a bust. What really threw us off is that in February, rates came down to five point nine nine, came under six percent. And then we got some really great flooding in, and within three days, the rates went back up and it screwed everybody.

And when you s- when, you plan on the market getting bett, er and things turn aro ,und there you go. Now we see the market slowing down. We could have had three or four hundred houses selling every week, but now we're still at two hundred. And that's unfortunate. But you just deal with it.

You just deal with it. All right. 

Wrap Up and Sign Off

That's it for now. Thanks for calling. That's it for now. Thanks for watching. I'm Vito with Abitano. We'll see you out there.

Wednesday Real Estate Snapshot 🦅 🌎 ⚓️

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Vito Scarnecchia
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