most affordable cities to buy a home | This Week's Winners and Losers - 12 County Bay Area Real Estate Report







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Most affordable cities to buy a home
“National” Home Price Index (FMHPI)
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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Pocket Listings Exposed

The industry is so full of shit, so I'm just gonna say this once, and we're gonna move on. Pocket listings, where your home is hidden from everybody and only a few people see it, are basically to let brokerages get market share. It's really not about you as the seller. 

Why Brokerages Push Off the Market

Because to get market share and make a crap ton of money, brokerages need two things.

They need real estate agents, and they need listings. And those listings bring in buyer leads, and those buyer leads allow them to then sell buyers mortgage products, title insurance, and home insurance. And then they can make social media ads talking about how they have all these off-market listings, but you gotta work with me to be able to find them.

And when you start to look at the websites of these, you'll see the pattern, "Hey, we have all these listings," and it'll take you to find an agent. "Hey, we have listings no one else has." Oh, contact an agent. And on the back channels, they're sending emails to agents being like, "Hey, does your brokerage supply off-market leads like we do?

Maybe you should join us." Like, so listen, if you need privacy, there's a certain reason why you need your home hidden. I get it, and that's always been an option. 

Consumers Get Used

And there sure as hell are issues in the industry that need to be resolved. But unfortunately, you as the seller are the marketing tool as to whythere ares problems and why they need to be changed.

But really, you're just being used. 

Ugh.

Reacting to Industry Consolidation

Been telling  you that for a long time, and it's frustrating as all get out because even my company is doing it now. They just bought... Real just bought Remax, and everybody's like, "Oh, great." How does that affect you? How does that... Why, why do you care? That's the big question I have: how does that affect you as a consumer?

It shouldn't. It... And h-honestly, it's underhanded, and it doesn't help you as a consumer. And I've been telling people this for the longest time. 

Off-Market Listings Hurt Sellers

When there are off-market listings, it only goes to a very small, central part of the entire market, and it doesn't help you as a seller. And that's just how it is, unfortunately.

And every company, every brokerage, every aggregator site like Zillow and Redfin is all playing the game, trying to train you as a consumer that that is a good thing. And it's even training some agents; that's a good thing. And I don't think it's a good thing. I don't think it helps you. I don't think it helps.

It helps the bottom line of the company, just like she was mentioning. 

Shoutout to Consumer Advocate

And by the way, this lady, I don't believe everything she says. She's a consumer advocate for real estate buyers and sellers. And she's a little too hardcore for me a lot of the time, but the fact is, she's delivering good value.

So I would definitely go to her and watch what she has to offer and learn a little bit more about what it is and get your own pieces out of it, right? A lot of times, she goes a little bit too into black and white, where there is, there has to be a gray area in certain things. It just is what it is.

But she's a great source of value and content for me to make sure that I keep my skills honed and sharp for you, my clients, so that I bring a good ethical delivery to your service, if that makes sense. Okay, enough of that. 

Memorial Day Reflection

Happy Memorial Day. Today is May 25th. And  I am delighted to tell you that I, to this day, I still have never lost anybody I served with in combat.

And I don't say that bragging because there's hundreds of thousands and millions of people that have lost their lives in, the service of our country. I've had people lose their life during their time in service, but never in combat, which is good. And I'm grateful for that. But we do have to take a few minutes and say  think about those people that have sacrificed for us.

So to them, I thank you. Let's go to this. All right. 




Most Affordable Cities Data
This is a con- con... I got this from Channel 2, KTVU. Oh, crud. This was right here. House hunting, data suggests the most affordable cities to buy a home in the Bay Area, which I tell you that every week in, in, in my, what we're-- our, weekly county-by-county sales report shows you which one's the most affordable.
This one goes through the U.S., right? This Flint, Michigan is  the most affordable city. The data found in Flint, yada, yada. You know, there's Nevada and Arizona and Michigan and Indiana, it looks like, all sorts of different little areas. And if you wanna look at, look into this, you're very welcome to. Not here to get into the nitty-gritty but, notice that a- actually Palm Bay, which is Tampa area, kinda hit the head a little bit hard there.
But here's another look at it, right? Palm Bay Alabama, Georgia, Tennessee Kentucky, Indianapolis, Ohio, Pennsylva-- I, I know all these well, Pennsylvania, New York, and Michigan, and then Arizona, and  Nevada. And Las Vegas is very, very affordable considering the fact that the average home is about four hundred and fifty to five hundred thousand dollars.

And if you are planning on moving to Vegas, let me know, 'cause my sister and my niece both do real estate in, in the Las Vegas area. And Las Vegas is a very affordable place. Henderson is a beautiful place. It's a planned unit development city, and it's just very well-maintained, and the cost of living there is super cheap.

And it's clean Not a lot of homeless, not a lot of trash, not a lot of illegal dumping, and the roads are maintained decently. Okay, so there you go. If you want the links, they're in my, my blo- uh, blog. And then here's another thing. 




Freddie Mac Price Index Dip
Freddie Mac house price index decreased in February. This is three months back, obviously, but it's something to keep an eye on, right?

Because if we go into a negative trend, like it's saying here, this is January, we always go into it in January  we're popping back out of it, right? But we're also seeing s- people struggle because rates keep, keep going up. Punta Gorda is the biggest drop anywhere. We saw that here. That's... Punta Gorda is actually on the West Coast of Florida.

And Austin, Round Rock, Cape Coral, again, is on the, right here. It's right in that area right here. Or maybe it's right here. I think it's, that's Tampa Bay, and that's Cape Coral, Fort Myers, and then down here is Naples Didn't know... I bet you didn't know that I was a geo- geography nerd. So also Oregon and Vallejo and San Francisco.

There's two places in California that have seen a negative hit. 

Bay Area Market Reality Check

However, you're gonna see that our prices continue to go up in the San Francisco Bay Area, in certain areas. Like Vallejo has contracted, Hollister San Benito County has contracted, Monterey County has contracted, but overall it's doing very healthy.

And last week we talked about us being on  the precipice of the dam cracking. I don't know if it's happening or not, but definitely we're doing, we're doing some price reductions in our... for my listings. So there you go. 





House and Luxury Pick
Britton Ave, San Jose, this is, last or m-... Willow Glen, house of the week, brand new.

This thing's gorgeous. Three bedrooms, three bath, twenty-five hundred square feet, built in 1937. Almost 90 years old. Look at that, beautiful house. That had to be an addition of some sort or redone. Everything looks like the floors were redone, the cabinets were redone. Nice house. Not a big fan of purp- the turquoise, but yeah, there you go.



And then luxury home of the week, thirty-five million dollars, not my listing. Six bedroom, five bath, sixty-five hundred square feet, built in 1977. This is new, but I think I looked at this last week As my brain is fading. There you go. 




Marketing Exposure Over Pocket
And, uh, you know, again, another pitch, houses, house- homes.com has been a very, very great advocate for me.

They push out my listings to hundreds of thousands of people. And when you put your ad when you list with me, I get to do that for you. There's some other agents in the Bay Area, I don't know who they are, that do it. It's very few and far between. But this is much better than an off-market listing or coming soon, I think, because you're getting massive exposure to your house.


And if you don't get anything  on top of everything else that I do, if you're not getting anything, it's, it's the price. And prices can track. There's nothing I can do about it. It's the market, right? Uh, download your free home buyer checklist and your home buyer, your listing ins- your inspection thing.
And here you go. 

Santa Clara County Snapshot
Again, nothing major is happening. We're seeing some prices slow down, but overall, like you look at all of Santa Clara County, it's hard to get a beat off of Santa Clara County because it's so wide and vast, and it's the highest volume county in the Bay Area. When you look at the number seven, seven point five billion home in, in revenue sold year to date, that's crazy.

And right now, in the last month, we were saying this at sixty-eight hundred, thinking, oh, it might be a little bit lower, but I think, uh, we're just about to surpass pacing, change two thousand and twenty-three, which means we could be right on target for two thousand and twenty-four if rates come down for the most part.

And it doesn't really help anybody on the west side of eighty-seven. It... what is... the homes that are, I'm selling right now are on the east side of eighty-seven. It tends to take longer to sell on the east side. Just happens to be that way. So nothing I can do about it. It just is what it is. I'm reacting to the market.

I'm being  I'm educating myself on the market so I can educate my clients on the market. There you go. And that's that for then. And yep. 

All right. 

Closing Thanks and Tribute

That's it for now. Thanks for watching. Happy Memorial Day. I hope you get to spend some time with people that serve, so maybe they'll tell you some stories.

 Yep. And for those that have served and those that have not come back, thank you for your service.

 
 


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Vito Scarnecchia
Real Estate Broker, Veteran, Dad
DRE#: 01407676
408-705-6817
Vitos@abitano.com
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