New US home sales fall short as borrowing costs climb
New US home sales fall short as borrowing costs climb
AI uncertainty clouds office construction outlook
PROBATE AND ESTATE SALES
How your Home will be Marketed
Los Gatos Home of the Week
Santa Clara County Price Reductions
FREE HOME BUYER CHECKLIST HERE https://abitanogroup.com/Homebuyerchecklist
Home Inspection CHECKLIST HERE https://abitanogroup.com/homeinspectionchecklist
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!
-$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!
Home Maintenance Hook
Ignoring home maintenance is one of the fastest ways to tank your home’s value. 😬
Here’s the truth: waiting until you’re ready to sell to start fixing things can cost you big time.
Your home is your biggest investment — regular maintenance is how you protect it. 🏡
Save this checklist ✅ (These are the things that always show up on inspections!)
Big systems to stay on top of:
• HVAC — change filters every 1–3 months
• Roof — check for damage after storms
• Water heater
• Plumbing — fix drips, leaks & slow drains
• Electrical — flickering lights or tripped breakers? ⚡️
Easy routine check-ins:
• Clean out gutters
• Caulk windows & doors before winter
• Repair broken windows
• Pressure wash siding, patios & walkways
• Test smoke + carbon monoxide detectors 🚨
• Clean dryer vent
• Touch up exterior paint/stain
• Inspect & clean chimney
• Lubricate garage door tracks
• Check for leaks under sinks
• Repair cracks in brick or foundation
• Run water + flush toilets in unused areas
• Clear weep holes in windows/sliding doors
• Clean refrigerator coils
• Drain & winterize outdoor faucets
• Check crawlspace for moisture
• Make sure water drains away from your home
• Maintain landscaping — catching up later costs way more! 🌿
Little habits = big peace of mind (and fewer inspection headaches when you sell).
📲 Want my step-by-step plan for selling — without the stress? DM me!
#HomeMaintenance
#HomeownerTips
#RealEstateTips
#HouseCare
#ProtectYourInvestment @
Mo Thweny | Residential Real Estate
Just wanted to go over this real quick so we understand what we're doing and talking about a little bit. Now, this is a... This is a hook, but there's a little bit of information here. You may not be able to read it, but the key is maintaining your home. If you own a house and you're thinking about selling it in the next couple years, which is a be- will be a b- much better time to sell than right now, you wanna make sure that your house is maintained well.
And it goes from gutters to caulk in the windows and the doors, repair broken windows, pressure wash yada. The list is in my bro- in my blog. If you wanna take a look at it, take a look down below and you'll be able to, get the, to the link to go. All right, enough said. But don't be dramatic, just get the stuff done.
Don't neglect your house. All right?
Inspection Checklist Download
Okay, let's take a little bit bigger look here. Okay. And if you ha- if you need a list, download this inspection checklist. It's the same thing. It allows you to go look at every nook and cranny of your house, from appliances to sockets, to bathrooms, to what have you.
It lets you walk through it and take a look and look for cracks and broken things and things that don't work, and just mental jogs, right? So there you go.
Why Homes Aren’t Selling
Okay new US home sales fall short as borrowing costs climb. That's exactly where it is, s- some of my clients are like what else can you do?"
I can lower the rates There's not much else I can do, right? I've been selling houses for twenty-three years, not to take that as a brag or a mental block. Why are houses not selling? Because that market is contracting. When markets contract, the prices lo- go down because everything else being the same, affordability needs to come down, and we're in a place where affordability needs to come down.
So unless you sold your house in February, you missed the market. We did not have a sell season, selling season this year. It's because the rates have been ex-exorbitantly high, and they're not going to come down. At least we don't think they are, and at least not till July. Be patient or don't.
I don't know what to tell you. Okay.
New Home Sales Reality Check
New home sales fell six point two. This is with new home sales, and the only reason why I'm bringing this up is because we do not live in a vacuum. I talk about house of cards and everything else. This is a little... The, divestiture or d-diversion of my typical resale, but it still holds true.
So something to be aware of, right? Is it part and parcel reason why we're go- seeing hard times in, res-- residential sales? We're not seeing it in places where people don't have to worry about money. We're talking about standard homes for the ordinary per- working person. If you have five million dollars in the bank, you're not worried about the rates.
And there's a lot of people in Santa Clara County that have five million. Not everybody. I'm just saying. New home sales fell six point two. Higher mortgage rates and global uncertainty made buyers more cautious. Yep, that's the Iran war. It's the tariffs. It's everything, right? We don't know what's going on economically, so we're just holding on.
We're going on pause till all this strife goes away. Prices rose as a larger share of the homes were sold higher end. What did I just say? If you have $5 million in the bank, you can afford a little bit more house. So if your house is worth three, four, $5 million, you're not s- you're not seeing these problems.
That's why we go to Los Gatos House of the Week. That's why we look at Mountain View House of the Week. That's why we look at Willow Glen House of the Week, because that's where the haves have their houses. Okay? Prices rose as larger sh- as a larger share of the homes sold were higher end
New home sales fell short expectations. The number of new single family homes trading hands in April totaled a seasonally adjusted annual rate of six hundred and twenty-two thousand, down six point two percent. Yada. Okay.
Don’t Panic and AI Uncertainty
Bottom line is w- everything is gonna come back, right? Don't panic. Life is not-- the sky isn't falling Don't get dramatic.
Don't lose your cool. It will come back But we also have AI uncertainty, right? I was watching a, documentary about AI and how all the movies over the last thirty, forty years have been about-- anything about AI has been about dystopia. Like Terminator one, two, three, four, five hundred thousand and all these other movies where computers take over and then they lose control and all this other stuff.
So it's fun to watch what's happening in real time, 'cause we're here. This is the time, and there's a lot of uncertainty of what's going to happen. Not so much in the dystopian focus, but more about what's going to happen to your job, right? And just like the advent of the radio and then television and then everybody was fear-fearing new technology, and things worked out, and everybody did the same thing when we had the onset of the internet, right?
Oh my God, it's gonna take o-over so many jobs. But look, it created so many more jobs. And I think that's the same thing with AI. We're just gonna reinvent ourselves. 'cause the bottom line is whether you're left or right, it doesn't... Again, I, you don't care. I don't care what side of the aisle you're on.
We're Americans and we're resilient, and we fight back and we come back, and we always come back stronger. And if you look at all the different things that are happening, yes China's outpacing us in certain slivers of the world, as is Israel. There's a la, all these different places. But you know what?
On the whole, America's still doing great as far as technology and creating new things. So God bless America. Is it great? Is it perfect? No. No, we're not. On either side of the aisle, we're not perfect, so keep it at that, right? I've been pondering and talking to a lot of my Marine buddies and some are left, some are right, and I'm a centrist, and I'm always talking to them, "How can we get together and bring each other closer?"
Not necessarily Marines that are divided, but us as America, as Can-- Rodney King said it best, "Can't we all just get along?"
Okay, enough of that.
AI and the Future of Offices
AI uncertainty clouds office construction outlook. Yeah, if you-- if you're AI, you don't need to work in the office. But there is something to be about working in the con- in the office. And I've worked out of my house for thirty years, thirty-five years. I love it, but I do miss that social interaction.
I miss being connected to people, and there's a certain social contract that you have, and I'm talking about it with my parents because they're recluses in their own homes. And love my parents, but they generally do not go out and socialize. And I force myself to go out and socialize with the neighbors and say hi to people and do that.
And it's n-normal and natural for us to do that. AI will definitely make it so it'll be easier for us to be recluse and stay in our house and stay close. So outside of that, I think what we're going to see is we're gonna be a-- see a resurgence of people coming back to work solely for social interaction and social connection So yeah, this is something that could hurt office buildings for the short term.
When I say short term, it could be four, five, 10 years. But overall, I think what we're going to see is a resurgence of people coming back to work because they miss that social connection Yep.
Los Gatos Home of the Week
All right, this is nice. This is Los Gatos home of the week. This is Edolyn Avenue, $4.5 million, three bedroom, three bath, three and a half bath, 3,000 square feet.
Probably rebuilt Total home directory. Okay it is not in the fire area. It is right off of So- University Ave, and it's in a very, sharp, smart parket- pocket of the world because that's where all your restaurants are. That's where all your restaurants and shopping are, right here. So it's a awesome place to be.
Yeah, you're gonna get a little bit of 17 noise, but that's okay. Let's take a look inside and see how amazing this house is. So I, I wanna say this is restructured colonial 'cause I don't think they, they had these types of clobber back in the day, but maybe they did, and it's probably re-engineered. But you look, you have the farm sink- farmhouse sink.
You have nice... This, whole house is redesigned perfect- You could see that there was a designer that came behind this and really put some great touches and details on this house. Beautiful house. Everything about it is just nook and cranny beautiful. It looks like there's an ADU with it. Yep, there you go.
There's your ADU, which is this little section right here. Wow, that's awesome. Let's take a look. Three bedroom, two and a half ba- I didn't even catch that. Wow, that is a great value. I know, $4.5 million, great value. Hey, it is what it is.
Santa Clara County Highs and Lows
Okay lows and highs of Santa Clara County. This is the lowest sold house in Santa Clara County.
It's also the, Is it? What was the, thing? Yeah, 65 and, 65.3% of the original sales price. They started at 1.1, they let it go at 730,000. It should have started at 730,000, to be honest with you, because that's what it is. It was on market for almost 300 days. Crazy. Three bedroom, two bath, 956 square feet, but maybe a year ago.
No it was down by San José State, I get it. There's an allure to it, but it's also a very, small lot, small house, not a whole lot of value there. And it's also the lowest list price to sales price ratio, so we'll see that in a second. This is the highest sales price home, and yeah, 10 point...
And it sold for 115%. La Cresta Drive in Los Altos. Nothing great outside of the fact that it's an acre, 43560. Like Rain Man, approximate building size, it's big old sucker. There's nothing wrong with a big house as long as it's well-maintained. Ooh, wow, look at that detail. That's nice.
Lot of wood. You gotta like wood if you like this house. Not a fan of that rock, all that rock hardscape there. Try to bring the- they're-- Looks like they're trying to bring nature into the house, but if they do, they have to move those windows out of the way. Let's see. Yeah, this is gigantic. See if they have a floor plan.
Way too many pictures, guys. Okay. And then the last one is There's this one
The highest list price to sales price ratio, which is 138, started off at two point one million, sold for two point nine million Sold in nine days. That's crazy. That's awesome. And it's not even Willow Glen, it's Cambrian Park. Wow, good for them. You can never know. You just never know, right? You never know.
That's actually San Jose. Yeah, crazy. Not my cup of tea, but there you go.
Market Stats and Wrap Up
And then those are the numbers right here. We have 1,461 active homes for sale right now. That's probably gonna start going down here 'cause we're entering into the summer. Happy June. We have 381 price reductions. Again, most of those guys are on the east side where the have-nots have- have it, and then that's 26%, which we haven't had 26% in a long time.
26% of the active homes right now have seen a price reduction. And we did close at 204, but I can almost guarantee you that most of those that have sold on the east side sold with a price reduction or even a lower cost or lower value than what they originally intended. There you go. That's it for now.
Thanks for watching. I'm Vito with Avotano. We'll see you out there
https://www.tiktok.com/t/ZP8bVMogp/ what your house needs.
Santa Clara County Highs and Lows
🔴 5 Cities Near San Jose | Moving to San Jose https://youtu.be/sDkdDq42vo8?t=46
🔴 The Five Biggest Turn-Offs For Homeowners https://youtube.com/shorts/lwknH5DCS5c
Videos edited by Vydeoease.com Use Exemption code VEASY
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
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🔴 5 Cities Near San Jose | Moving to San Jose https://youtu.be/sDkdDq42vo8?t=46
🔴 The Five Biggest Turn-Offs For Homeowners https://youtube.com/shorts/lwknH5DCS5c
Videos edited by Vydeoease.com Use Exemption code VEASY
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
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