California Real Estate – Hello there, I’m Michael Acquisto, and this is luxury real estate broker Shana Acquisto, we’re based in Frisco, Texas. But we’re going to talk about California real estate right now, specifically your trip that you just went on and just the highlights of it, just the highlights.
So just a couple of highlights. So Hannah and I went to California kind of on a tour talking with different agents and actually clients looking to move out of the state of California. OK, so we went and had a very productive week. And I just want to talk about a few takeaways. OK, so Omkar is going to share a couple of photos that we have. We met with many agents.
Oh, good. A selfie. That’s a great way to start. I’m always a big fan of a good-looking selfie.
Yes. So it was crazy to us that there are so many people moving out of California, which is legit. We spoke to these agents and they all verified that of their listings, 70 percent of them are moving out of state. Yeah, that’s 70 percent, you guys. And in talking through them, just think about that for a minute.
Yes, 70 percent of and we met with what ten agents of their sellers are moving out of the state of California. So, yes, that was exciting, but at the same time, they are in the same market as we are. It’s super competitive. Agents are struggling. There are so many agents in the state of California. So with everything going above list price, multiple offers in such a crazy seller’s market there and then so many people moving out of the state, we found that to be extremely interesting.
Wow. So imagine if the people weren’t leaving the state, how long the market would be because those people would be competing for new homes or for the same homes that are in there with that pool and they’d be bumping those prices up. Did you have any indication as to how high the homes were selling for above this price?
They’re going I mean, the same as ours. They’re going hundreds of thousand over over their list price. And then they also have a lot of new construction. So we toured some new construction properties and those are to build a home are eight hundred two thousand dollars per square foot. Eight hundred to a thousand dollars per square foot,
And what kind of property does that come with? Is that like on the edge of the cliff overlooking the ocean, or is that just a typical home?
It’s just a you know, for California, it’s a typical home.
How large were those? And just like
So they ranged from like six thousand square feet to. Well, you know, and I like those numbers, and those are just typical, they’re not on the ocean. They’re not.
Oh, no. These are outside in a way, from the ocean. These are no ocean view, ocean front in front. All right. And standard communities. So, yes. So that was that was very interesting. You know, there’s a lot of concern there because the kids are still not going to school full time. So they’re still homeschooling the kids there. So that’s a big concern for a lot of people. And I think one of the reasons, you know. People want to move out of there. I mean, it’s really difficult. There’s a big concern that the kids are not learning anything. We heard that from several people.
So what are they doing? Are they all still remote or are they even getting the motor or they’re doing about it? They’re doing remote. But, you know, the pulse of people are is there. They’re not learning. They’re not learning. So that’s a big concern. Mm hmm. Yeah, so lack of education, affordability, political reasons, I mean, there’s lots of reasons that people are freaking out.
So my suggestion to all of you is if you know anybody that has moved here and from California. Ever like it, not recently, but in in the last 10 years. Or, you know, I would reach out to them right now because they may know other people that are considering moving.
That’s a really, really good point there.
Yeah. So there anybody that you know from California, maybe you have friends or know people that live there or people that have moved from there, but any acquaintances that you have? From California, I would reach out to them and say, hey, do you have anyone do you know anyone that could that may be considering moving out of state? If so, we would love to help them. Right.
So it’s a huge opportunity. It’s happening. Covid is still a thing there. People are wearing masks outside in their cars. And, you know, it really does depend on where you go when you go to some of the smaller communities. They’re also booming, right. Because they’re more affordable. And when you go to those smaller communities, it’s kind of funny. They’re they’re kind of over the mask. So, you know, there are there are the big cities are definitely still super covid cautious, but the smaller ones, not so much.
All right. And then you talked about a couple of additional trends that you saw with a laundry room. Yes. Like, it’s crazy how. Amy, Amy, Amy.
So to expand on that, in California, it is common to have three sets of washers and dryers. So in your laundry room, if you have a two story home, if you have a laundry room, you typically will have two washers and dryers and there stackable full size, stackable. And then upstairs you’ll have another laundry room with another set.
I like I like that a lot because then you essentially can do twice as much laundry in a shorter time period. Yeah, because no one wants to spend all day doing it right. Not cut that time. And half just put two sets, you know,
In talking with people, they, you know, the agents and the new construction sales reps who are telling us that, you know, people typically have somebody that will come in and help them with laundry or something like that. And then it takes so long to get caught up so it’s more efficient if they have multiple machines.
I like that. And gas prices are still up like for gas price.
It is so expensive there. So their sales tax is great. I think it’s nine and a half percent gas prices. So gas prices, when the day we left, we saw gas prices for four dollars and sixty nine cents.
And that’s a gallon per gallon.
Yes, so it’s so expensive to live there. I don’t know how we could live there, so it’s crazy and then. Probably our highlight of the week is we were able to visit a fruit farm, OK, and Danube, the newbie, I always say incorrectly, but we went to this little small farm town and met the greatest family. We really enjoyed meeting them.
This is someone that Megan and Mike are working with that will be moving out of state. So we have the opportunity to drive out and meet them and tour their fruit farm, their production facility and pick fruit. So we had a great time out there. It was awesome. I think Omkar had one of the videos that will show. But this is a. I mean, a very sophisticated system that.
They they tag them. Anything with the. With a big seed, I guess, and Ullman’s so it was a great, great trip, very educational. I would suggest if you have children to to seek out places like this and when you’re on vacation, take your kids and tour a place like this, because it’s very impressive and it’s something you don’t even think about when you’re eating your fruit, like where it really came from in the process of how it got there. S
o, you know, this guy said that his dad, the owner of this, said to his father when they were kids, any time they went on vacation, they would they would tour a plant like a paper plant or a recycling plant or something. And, you know, thought it was really cool.
So that’s about it. All. And we’ll we’ll talk more about this market and kind of her ideas and what she’s doing with it and she can share with you guys. But it’s this is very impressive. It was a great idea that she had and we had a great time. Very productive.
Yeah, but you did have a really good time.
Yes. But we were exhausted. When we got home, I mean, it was action packed all day, every day,
And how many wineries did
You hit? We did not hit up a winery. Our plans were to hit a lot up. We actually stayed at one one night, but we got there so late that we had to eat McDonald’s in our bed and go to bed, get up the next day and leave. So we didn’t even get to enjoy it.
No winery and had to eat McDonald’s and had to eat McDonald’s
Because nothing else was open, the labor, they you know, they’re just now reopening and they don’t have workers and everything shuts down super early and it’s crazy. Crazy. Be thankful. Well, thank you for sharing that. We appreciate great ideas and we’re very appreciative of Hannah. So thank you guys very much. Let’s go ahead and move on.