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Pandemic Boomtowns... BUSTED?
Pandemic Boomtowns... BUSTED?
Today we're going to talk about the pandemic boomtown's Busted, but there's a lot more to it, right?
http://blog.abitano.com/2022/12/pandemic-boomtowns-busted.html
https://www.youtube.com/watch?v=SoVnguTDkPQ?sub_confirmation=1
INTEREST RATES
The feds just testified again and we went up half a basis point. What is that gonna mean? What's the economy looking like? What's the real estate market looking at, like on the whole, and specifically, I have some new charts. We don't have to look at boring old spreadsheets anymore. We're looking at charts today because I'm learning how to incorporate more stuff that might be more interesting to you.
So without, without, uh, further ado, let's get moving. First off, today's rates are, Fairly low. 6.28. And when I say 6.28, what does that mean? It means that's the called rate, right? That's what people say that they're gonna, they're gonna, um, Start with, or depending on if it's a conventional or jumbo, right? So you look at all these different types of rate or loans, 30 year fixed is 6.33 fixed in year fixed, 15 year fixed is fif 5.75.
A 30 year fixed VA is 5.82, so it's even more aggressive. Same thing with F H A, right? and what people are doing right now is they're going with the five one arm or seven arm or what have you, and buying it down even further because it just, just makes sense because right now a 30 year fully amortized standard conventional loan is 6.33.
Now if you're six point if you're o a jumbo, which just increased or will increase to over a million dollars, 5.7. , right? So when I look at these numbers, I'm just looking at 6.33 and I think even that number went up earlier today. Cause I was at 6.28, maybe that just went up just now because the feds raised the interest rates, right?
So now our policy is 4.25 and 4.5. That means there's gonna be a little bit of money on top of that for the lenders to sell, sell you the money.
Gas is coming down even though it's not where it's supposed to be. Cause I think we were at like three and a quarter on a really good day and three 50 a gallon on bad days.
Um, the highest that I saw was Chevron Elm Winchester, which is always one of the top. Top most expensive gas stations in Santa Clara County, especially San Jose, and it's the one that's right there by Winchester Mystery House. This guy right here, right across the freeway from two 80. So you know, vote with your wallet guys.
Okay, so we're looking at these now. I'm gonna kind of flip back and forth to these charts, to my, my exciting spreadsheet that I talk about every week, mostly because I wanna show you that the numbers are kind of jiving. But when, when I talk about these numbers here, this is just San Jose, and when I look at these numbers right here, this is all of Santa Clara.
Vito Scarnecchia
Realtor®, Broker, Veteran, Dad
DRE#: 01407676
Website: abitano.com
UPDATE YOUR HOME VALUES HERE https://get.homebot.ai/?id=04198407-86e6-4db0-8902-ddf0de6dbabc
If you are moving ANYWHERE in the world - Let me know! I know a LOT of AMAZING Agents!
Book appointments here: https://calendly.com/abitano/15min
Home Buyers Course
YT YouTube.com/SanJoseLiving
IG https://www.instagram.com/abitanogroup/
FB https://www.facebook.com/vito.scarnecchia/
LI https://www.linkedin.com/in/vito-scarnecchia/
POD https://spotifyanchor-web.app.link/e/oxdH1Hwfcvb
Professional Photography by Kim E https://photosbykime.com/
Compass site: https://www.compass.com/agents/vito-scarnecchia/
VydeoEase.com- Post-production service for business marketers. $5 trial- Use Vito50 when you sign up…
Video Marketing Course for Realtors
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By SiliconValleyLivingPandemic Boomtowns... BUSTED?
Today we're going to talk about the pandemic boomtown's Busted, but there's a lot more to it, right?
http://blog.abitano.com/2022/12/pandemic-boomtowns-busted.html
https://www.youtube.com/watch?v=SoVnguTDkPQ?sub_confirmation=1
INTEREST RATES
The feds just testified again and we went up half a basis point. What is that gonna mean? What's the economy looking like? What's the real estate market looking at, like on the whole, and specifically, I have some new charts. We don't have to look at boring old spreadsheets anymore. We're looking at charts today because I'm learning how to incorporate more stuff that might be more interesting to you.
So without, without, uh, further ado, let's get moving. First off, today's rates are, Fairly low. 6.28. And when I say 6.28, what does that mean? It means that's the called rate, right? That's what people say that they're gonna, they're gonna, um, Start with, or depending on if it's a conventional or jumbo, right? So you look at all these different types of rate or loans, 30 year fixed is 6.33 fixed in year fixed, 15 year fixed is fif 5.75.
A 30 year fixed VA is 5.82, so it's even more aggressive. Same thing with F H A, right? and what people are doing right now is they're going with the five one arm or seven arm or what have you, and buying it down even further because it just, just makes sense because right now a 30 year fully amortized standard conventional loan is 6.33.
Now if you're six point if you're o a jumbo, which just increased or will increase to over a million dollars, 5.7. , right? So when I look at these numbers, I'm just looking at 6.33 and I think even that number went up earlier today. Cause I was at 6.28, maybe that just went up just now because the feds raised the interest rates, right?
So now our policy is 4.25 and 4.5. That means there's gonna be a little bit of money on top of that for the lenders to sell, sell you the money.
Gas is coming down even though it's not where it's supposed to be. Cause I think we were at like three and a quarter on a really good day and three 50 a gallon on bad days.
Um, the highest that I saw was Chevron Elm Winchester, which is always one of the top. Top most expensive gas stations in Santa Clara County, especially San Jose, and it's the one that's right there by Winchester Mystery House. This guy right here, right across the freeway from two 80. So you know, vote with your wallet guys.
Okay, so we're looking at these now. I'm gonna kind of flip back and forth to these charts, to my, my exciting spreadsheet that I talk about every week, mostly because I wanna show you that the numbers are kind of jiving. But when, when I talk about these numbers here, this is just San Jose, and when I look at these numbers right here, this is all of Santa Clara.
Vito Scarnecchia
Realtor®, Broker, Veteran, Dad
DRE#: 01407676
Website: abitano.com
UPDATE YOUR HOME VALUES HERE https://get.homebot.ai/?id=04198407-86e6-4db0-8902-ddf0de6dbabc
If you are moving ANYWHERE in the world - Let me know! I know a LOT of AMAZING Agents!
Book appointments here: https://calendly.com/abitano/15min
Home Buyers Course
YT YouTube.com/SanJoseLiving
IG https://www.instagram.com/abitanogroup/
FB https://www.facebook.com/vito.scarnecchia/
LI https://www.linkedin.com/in/vito-scarnecchia/
POD https://spotifyanchor-web.app.link/e/oxdH1Hwfcvb
Professional Photography by Kim E https://photosbykime.com/
Compass site: https://www.compass.com/agents/vito-scarnecchia/
VydeoEase.com- Post-production service for business marketers. $5 trial- Use Vito50 when you sign up…
Video Marketing Course for Realtors