More Than 50,000 Home-Purchase Contracts Fell Through in March

 
More Than 50,000 Home-Purchase Contracts Fell Through in March
Real estate investor optimism fades amid geopolitical tensions and inflation resurgence
PROBATE AND ESTATE SALES
Open Houses this weekend, Silicon Valley Curated
Mortgage Rates this week
Home Inspection CHECKLIST HERE https://abitanogroup.com/homeinspectionchecklist
What you get for $2MM Santa Clara County
AIDA: Attract, Interest, Desire, Action 
What you get for $1MM in SILICON VALLEY 
Inventory And Supply Charts
FREE HOME BUYER CHECKLIST HERE https://abitanogroup.com/Homebuyerchecklist

YOUTUBE
BLOG
PODCAST

WHEN IT'S TIME TO SELL YOUR HOME:
-$15,000 off the list fee if we don’t sell it within the first 15 Days
-Repairs and upgrades managed and paid at closing
-Your home sold guaranteed, or we’ll buy it
-Inspections paid at closing
-Staging included
-360 Virtual Tour

Vito Scarnecchia,
Broker, Realtor, Dad
Abitano.com DRE01407676 408.479.2427
Call today to get started! Offer Valid until 5/30/2026

  

More Than 50,000 Home-Purchase Contracts Fell Through in March

There you go. Listen, did you know that? How many people are faking anyway? We're not really into that. That's not real. 

AI Layoffs Shockwave

What we're here for today, we're talking about how many layoffs are happening all across, not just Silicon Valley, but also across the United States, all because of ai and  tech, tech workers are seeing a lot of layoff. Did you know that we're actually over a hundred thousand tech workers being laid off over the from, for, from since the beginning of the year? Since January. Yeah. A hundred thousand. And look, not saying that they're all in Santa Clara County or Silicon Valley at all.

At all. This is global across the United States, maybe even some other countries. 

Silicon Valley By Numbers

But I just did like this little parlay thing and just like, oh, I wonder how many households we have in Silicon Valley. Did you know that it was a 900,000 households in the Silicon Valley? Holy crap. I mean, what would happen if that was  let me break this open here. There you go. A hundred thousand people Since the beginning of the year right here, 27,000, 24,000, 38,000. Now meta just announced 8,000 people, but I think it got even bigger than that. So yeah, we're over a hundred thousand people globally. But geez you're seeing a slow down.

You're seeing this and that. We're like, oh my God, what's going on? AI is taking the job of multiple software engineers and other types of engineers, people that write software, and it's hurting our little micro economy just is what it is. Could it be why? Here's the thing, right? 

Is This Another 2008

In 2008, it was.

Of the people that had the new mortgages, which was roughly 60% of the entire households across the United States, 5% of those 60% were affected by the pick a pay. And people started falling out of   paying their mortgage. And it was roughly due to 5% of the population, I guess you can say, This is roughly 10% of the households, or 11.1% of the households are. If it was all of just Silicon Valley, it's not, but it is not really, let's just be conservative and say it's half of the people that live in Silicon Valley are being, or half the people that got laid off live in Silicon Valley.

Well, it's 5% or maybe like five and a half percent, but it's, it's the same thing. So wherever you see little tech hubs that are affected by AI taking jobs, and look, this is nothing new. We're Americans, we're resilient. We bounce back, we learn how to adjust. Some don't. 

History Of Job Disruption

Some do most, do you know, like the auto workers back in the eighties, right?

Michael Keaton had a movie out and it was all about the Japanese taking over, oh my God, blah, blah, blah, and you just learned to cope. And then it was the robotics that came in and started taking jobs. Oh my God. It was blah, blah, blah. And then it was nafta, the trade organization. Not the other one that was, yeah, that was the big joke.

 But that was when we started sending our jobs down to Mexico and ba massively over to China and to Vietnam and all that other stuff. So we started exporting jobs to other parts of the world because of cheap labor. Yeah, we bounce back. Not everybody, we still have people that are generally generationally unemployed for whatever reason, but a lot of them bounce Back.

they retrained, they got another type of job. They went from auto worker or manufacturing or assembly or whatever to a professional job or design services or what have you.  That's something you have to worry about. This is something you have to worry about, right? 

Which Jobs Are Next

This is gonna take over multiple, industries.

It's not just tech, work workers. They're saying this could take over lawyers, they could take over bookkeepers, they could take over a lot of soft skill, not soft skill, hard skill, technical things that you want to to school for. I went to school for a degree. My degree is in business management as supply chain management.

 How are you gonna change that? Well, AI will take over a lot of the thought process. They're still not gonna need people to implement the supply chain. But I could see my, my, if I was in supply chain, I could see that a lot of people would be getting out of their work, right? Finance. You look at buying a business, you can ask AI to take a look at that business and bring you information.

So guess what? It could replace the need of business brokers or at least, uh, mergers and acquisition people saying, we don't need you anymore, right? So anyway, not saying it's going to happen, I'm saying it can't happen. I'm just saying. 

How To Adapt Now

If, if you think it's a, one of the reasons why you might be getting laid off or why you got laid off, it's time to start changing your attitude and start moving towards figuring out stuff that you can live off of.

Get another job, get into construction, voting. I, don't know, I don't know what all the answers are because I'm not that guy, but just something to be aware of. Okay let's see, this thing right here. Over 100,000 tech jobs lost in four months as 2026. And then TrueUp shows this.

That was where, right where we were. And it doesn't go specifically into it. So that's the thing. Like you say, how many laid off in Silicon Valley in 2026 and it says over a hundred thousand tech employees were laid off globally. So you, I can't tell you specifically just in Silicon Valley, so let's just say it's half.

I could be wrong, but at least you know where we're at, right? Keep that in mind. 

Investor Confidence Slips

Real estate investors optimism fades amid geopolitical tr tensions. This is done on the 22nd, which is five days ago, but it's just something we need to be aware of, be talking about, because I've been telling people this for a bit.

It's just something that's going to happen because. Wars tend to scare people. Right now, out of my three listings, I had three showings this weekend.  Nothing to write home about. People are looking for good deals right now. And if you're not in a need to sell situation, well you're gonna hold onto that house because  if you don't need to sell it or it doesn't make sense for you to sell it right now, rent it.

 If the market's collapsing, and I did. I told people this in 2008 when the market collapses, and I told 'em in 2010 and I, or 2015, I told 'em in 2018, I told 'em in two TH two, whenever the market starts, plateauing, hold off. Are you in a need to sell? Then keep it on market.

So anyway, just something to be aware of. Again, this link is in my, my blog, so please feel free to do it. But even investors are walking away from deals right now because they don't know where the market's going, and they have thin margins today because everybody's a mom and pop investor. So if you're looking at, if you're looking at buying a house for an investment, maybe you should hold off.

If you're thinking about buying a business, let's talk. 'cause I'm looking at buying businesses right now and I'm talking about that on my financial intelligence  platform. And if you're interested in learning more, go over there. But there you go. So everybody's buying everybody in real estate right now.

More. Okay. 

Market Shift Buy Signals

What does that first and foremost, that's a big indicator to me that the market is shifting.   Do you go in when the market is super hot and Well, yeah, most people do. Okay. Smart investors don't buy when the market's crazy hot, like in 2021, and the market was 2.5% interest rates and everybody's throwing 500,000, $400,000 over list price just to get a house.

'cause they got desperate and they got the me too attitude going on. Well, that was dangerous, right? Because now. You're stuck in that house, whether it was your forever house or not. You're two and a half percent might not be the perfect house, but I can tell you that you have equity in that house. Unless you've completely refinanced and refinanced and refinanced, and you're overboard, then you're in a short sale situation that's on you.

Money management matters. When the markets hedge and they start to ebb instead of flow, and people say, you know what? This might be a good time to buy. That's when a good time to buy is when people are questioning the market and they're saying, what the hell's going on in the market? Well, maybe this is a good time to buy.

 Compass got bought by Berkshire Hathaway, who got bought by anywhere or any way or whatever, who was a big, huge holding company. And they own, like, own like 10, 12 different big, huge brands now, like Century 21, compass, Berkshire Hathaway, all these other companies. It's this big, huge, plain vanilla, massive holding company.

' cause they did strategic buys and it makes sense for you to do that sometimes when you're in that business, right? Well, real, the company I work with, I hang my broker's license under there. I'm not a broker, I'm a broker associate. I don't want to do with the management of, other agents. They bought re max.

The oldest brands out there, real bot re max, what does that mean to you? Nothing. You don't really care because why should you?  I think it's an indication of the market. Am I excited that re max got bought? I don't care. Never really thought much about re max. Thought they were a good brand.  They were like the Tom McCann of the shoes back in the eighties.

They were good brand, but they were, you know, they laughed. They were shoes. They weren't like brand specific. So,  I don't know what it means to me. Don't really care what it means to you. Is this an indication that the market is hedging or ebbing? As a consumer might be a buy indicator. This might be a time for you to at least get your muscles working right now.

Get your loan approval done to see if it's a good time to buy. In the next couple weeks, see what happens. Because if it's all indication where we're plateauing and something might happen, I'm not saying it's going to, 'cause it hasn't happened since 2008. We saw a couple plateaus. 2018. 2022 could be a plateau, but it could also be a massive dump because we're in a war joblessness with job situations going on.

We just talked about AI taking jobs. So just be aware that this might be a good time to look at buying a house. 

Cupertino House Tour

Not saying it is, but I'd also talk to a lender right now, Cupertino House of the Week. This is South Elling, not my listing. $5.3 million brand, spank and new. Looks like they bought a hunk of land and they put four or five houses on it.

Now they're selling it for $5 million. They probably paid just a quarter acre hunk of land. They subdivided into four different pieces of, uh, for four different parcels, and they put four houses on it. That's kind of what it looks like to me. And then they had Thomas James do the build out and put another million and a half.

So each house is worth about $3 million. Hard cost. So then you have 1.2 million, $1.3 million in equity rate there. When you sell, there you go, oh, this isn't even built. Well, it looks like it's built, they just don't have interior pictures. So  to me it looks weird because it's like a one car garage Two spaces, carport, minimum. So I don't know. I can't tell. You know what? I can't tell because there's a floor plan. Thank you for putting the floor plan out. That's upstairs. That's the dining. They don't show you. Oh, right here. But that's weird because it's just the angle. So there you go. So if you're interested in learning more, let me know.

Take you to it. We'll get you into it. It's a seven bedroom, meaning it's a massive, massive home for multi-generational. If you're a multi-generational family, meaning parents, grandparents, yourself and your kids, it's a good place to put in 'em. 

Willow Glen Deal Breakdown

Okay, Willow Glen. House of the week. Merle Ave. Not my listing.

Brand new listing $1.8 million in Willow Glen, but Vito, the median price is $2.4 million. Why are you showing me this? Because it's in Willow Glen. Remember? Location, location. Location though, right? Three bedroom, two bath. Built in 1939.

Here's my phone. There it is.

Oh no. Hang on a second.

Okay,

Cooper, this is Willow Glen, house of the Week. And we're looking at this, but here's the thing. Remember I tell you, Willow Glen House of the week do you remember this right here, what is this? It's a trail, but also there is a railroad track right here. So this isn't a bad place. This is actually a nice place right here.

A little busy, but it's also in a cul-de-sac.  But also it's not where everybody wants to be in Willow Glen. If you're gonna be anywhere on Willow Glen, it's down here, everything up here closer to the freeway, closer to the flight path, which is why it's $1.8 million, but it's also an 80-year-old house.

So there you go. Not much to look at inside. I don't think it was redone. Okay, we're not gonna go that and then it's just taking too long. 

Woodside Luxury Listing

This is Luxury House of the Week, olive Hill, not my listing on Woodside. $35 million, six bedroom, five bath, 6,400 square feet built in 1977. And it looks like, I don't know, it looks like, uh, it looks to me, it looks like it's a big green lake, but it's probably just  a nice grass lawn.

I can't look at it right now. It's also in the fire zone. But if you can afford $35 million, that's okay. You can afford the fire plan, the fair plan. So there you go.

Yeah, it's a nice house, $35 million. If you wanna take a look, gimme a call. Happy to work with you. There you go again, all these listings are in my blog. You're very welcome to take a look at it and take a look and ask questions. 

Bay Area Market Snapshot

so nothing much to talk about here outside of the fact that I. San Mateo is still number one.

San Francisco bumped up on average to a 2.7 million versus 2.4 million on on average. The median price is still $2 million, and San Mateo holds the 2.1, but where you gotta remember is that Santa Clara County is the highest volume by multitudes. The next highest one is San Mateo, which is 2.7, and they've only closed.

How many closes? Oh, sale. They've only closed half of what Santa Clara has. So little dichotomy, because those houses are so much more expensive. Nothing else to really worry about. We haven't seen these numbers really jolt up. As a matter of fact, we're seeing some of them recede, meaning that that days on market are going a little bit faster.

Houses are selling a little bit faster. Nothing really to think about much. 21 houses or 21 days on market. It's uncomfortable for some sellers, but um, again, if you don't need to sell, you don't need to sell, right? So once rates come down, things will change and everybody will come back. And then we will  we'll go crazy.

Let's see. All right. 

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

 

Videos edited by Vydeoease.com Use Exemption code VEASY
🔴 Video Living in San Jose in the No. 4 spot. ithe n US https://youtu.be/hxw5k739OKU?t=521
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


#BedlamWhereChaosResides, #abitano, #realestatesherpa, #rewtf, Silver Tsunai , 2035 Housing, 2025 tax lien investin , Jason Walter, home staging kitchen, Cost Of Living Calculator, Fraud, Homebuyer workshop, Bay Area housing stats, Veteran Home, best time of the year to buy a house, Bay Area Luxury homes, next housing crash prediction, housing market projections, Should I Buy A House Now Or Wait?, should I buy a house now or wait until 2025, Why You'll Regret Buying A House in 2026, realestatemindset, Housing Market 2025: 5 Options If You Regret Buying a Home, when will the housing market crash again, lance lambert

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,E`

Inventory vs Sales