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Short Sales vs. "Normal" Sales
2008-02-27 04:31:00
Agents and their buyers are far more apt to make an offer on a "normal" property than a potentially more lucrative short sale especially in a 1031 exchange situation. The best values in the market right now tend to be the most difficult. The "deal" that you see may not even be deliverable - full price or otherwise. This is because a short sale listing is probably not sanctioned by the true seller - the bank or more difficult - the banks. Therefore, a valid offer may languish in committee and a straight forward acceptance or rejection may never come. If you are in an exchange - this is not for you. 45 days go by fast. Therefore, the perhaps not so well-priced, yet deliverable normal sale seems far more attractive when you need or want to act quickly. Of course, there are strategies to counter act this - and that is for another blog entry - I've got to keep my numbers up!
More About: Sales , Short , Normal

Blossom Valley San Jose Price Support
2008-02-26 05:02:00
Where is the bottom? I can tell you it is evident in Blossom Valley single family homes just under $500,000 list price. This is for your typical 40 year old ranch house, 3 bedroom, 2 bath, 1200ish square feet on a quiet street (IE: not on a freeway or on Blossom Hill). The homes that are listing at $499k are getting strong offer activity and going in to escrow! So what's the big deal? This: when the general populous realizes that a bottom has been achieved, a spring board effect will occur - not the 10 meter board height of course - but this will put confidence in the market. And if Palo Alto, Mt View, Cupertino, Saratoga and Los Gatos have confidence on the west side, then confidence starts in Blossom Valley, Campbell, Cambrian - we are at the beginning of stability. Don't crucify me if you think I'm nuts - it's just what I see...
More About: San Jose , Support , Homes , Price

2 bedroom short sale condo Mountain View
2008-02-17 21:52:00
At $345,000 for a 2 bedroom, 1 bath, 796 square foot condo in a good Mountain View location - this is a great deal. Check out this great opportunitiy. Very few short sales and foreclosures in Mountain View and Palo Alto. This would be a very good rental property to buy as an investment. Then sell in a few years when priced come back.
More About: Foreclosures , Sale , Condo

Los Gatos Short Sale Pre Foreclosure Condo
2008-02-17 21:07:00
Walking distance to downtown Los Gatos - this wonderfully located large one bedroom 2nd floor condo is an excellent value. Offered at $390,000 on a short sale basis - needing bank approval - is $30,000 less than what it sold for one year ago. 789 square feet makes for a very large one bedroom unit. Association fee is a reasonable $390 per month. Call for a tour.
More About: Foreclosures , Sale , Foreclosure , Condo , Homes

Open House Saturday Feb 16th and Sunday Feb. 17th
2008-02-15 21:38:00
This beautifully remodeled 3 bedroom 2 bath home located at 2098 Arrowood Lane San Jose,CA 95130 in west san jose in the campbell area is open this weekend both saturday and sunday from 1:30pm to 4:30pm. Come and stop by bring your agent and agents bring your clients... You will love it
More About: House , Open , Sunday , Saturday , Open House

First Time Home Buyer Class Feb 21, 2008
2008-02-14 05:26:00
Tony Guaraldi of Intero Mortgage is hosting a very informative first time home buyer class to talk about the great lending programs available. He will talk specifically about the CalHFA program which allows excellent financing terms for first time home buyers. Tony is wonderfully qualified on this subject and can get you understanding how much you can afford with the assistance of this program.* California State 1st Time Buyer Program- 103% Financing to $693,000 Purchase Price- All Fixed Interest Rates- Down Payment & Closing Cost Assistance- City & Non-Profit Assistance Programs- Credit Scores Down to 620 with Zero Down* Credit Reports and How They Score You* Role of the Realtor* Title and Escrow Process* Tax Benefits of Home OwnershipPlease RSVP at mario@interorealestate.com10275 N De Anza BlvdCupertino, CA 950146:30-7:45pmThursday, Feb. 21st
More About: Homes

TIC investments
2008-02-12 18:39:00
The National Association of Realtors is working on a new regulation to allow CCIM Realtors to sell TIC investments. The reason behind this effort is to have competent commercial investment Realtors represent securities products that are essentially real estate investments. Right now the current representatives are stock brokers and securities dealers - people who are inherently not real estate experts. I think this a good move to bring expert guidance to this booming industry.Mario Pinedo, CCIMIntero Real Estate415-269-6249 cell408-342-3155 officeSent via my BlackBerry
More About: Investments

Short sale condo deal in Mountain View
2008-02-12 04:52:00
We are tracking a very well priced 2 bedroom 1 bath top floor condo in Mt View for $360,000. It is a pre-forclosure short sale that will make someone a great buy. Let us show you what you can get in pricey Mt View for... ahem... next to nothing... Mario Pinedo, CCIM Intero Real Estate 415-269-6249 cell 408-342-3155 office Sent via my BlackBerry
More About: Sale , Mountain View , Condo , Deal

2098 Arrowood Lane, San Jose Open House This Weekend
2008-02-09 06:48:00
2098 Arrowood Lane will be held open Saturday and Sunday from 1:30 - 4:30. This wonderfully remodeled home in west San Jose is offered at a very reasonable $815,000. A huge master suite with two closets and a wonderful new bathroom. Two other bedrooms and a new hall bath. There is a large open kitchen with all new appliances. Spacious area for a dining table adjacent to the living room. Large lot over 6,900 square feet. All this walking distance to Baker Elementary. Come and be impressed.
More About: House , Open , Weekend

Short Sale Townhouse in Milpitas $319,000
2008-02-08 23:29:00
We just listed a wonderful 2 bedroom, 1 bath, two story townhouse in Milpitas off Calaveras and Abel. This unit has a one car garage, a fenced patio, access to the community pool and is very welll located. It is not on the MLS yet. Give me a call for a preview.
More About: Sale , Homes , Short , Townhouse

Silver Creek Valley Country Club Open House Feb 9th
2008-02-05 00:47:00
Please come see this wonderful home within the gates of Silver Creek Valley Country Club this Saturday from 1:30-4:30. 4 large bedrooms plus a wonderful office, 3.5 baths, 3 car garage, black bottom pool and spa, views of the valley, quiet street - everything you could ask for - offered at $1,349,950. Address is 5230 Birkdale Way, San Jose, CA 95138. With interest rates this low - the lowest in 3 years - this is a great time to buy your new home in the valley.
More About: House , Open , Homes

Team in Training San Diego Marathon Run for a Cure
2008-02-02 23:43:00
My goal for the first half of this year is to raise $5,000 through Team in Training for cancer cure research. Please visit my webpage and make an important donation to this cause. I ran my first real race on Thanksgiving morning in San Jose - the Turkey Trot 10K. After that, I knew I wanted to accomplish more. This coming from a kid who in high school could not finish one mile during football tryouts - no - I didn't make the team!I also just turned the ripe old age of 40 two days ago. I was surrounded by some of my best friends and the love of my life. I cannot ask for more love and happiness. What I can do though, is give something back to those who are not so fortunate. This may be with a grueling 4 hour run in San Diego and it very well may be with some other challenge to myself in the future. It is also done with the support of my friends, coworkers, clients, family and sometimes an annonymous but wonderful donor.Please do what you can and help me help the researchers a...
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Open House 2098 Arrowood Lane, San Jose, CA
2008-02-02 22:59:00
Come to this wonderfully remodeled home walking distance to the impressive Baker Elementary in west San Jose . New price at a very attractive $815,000. Huge master suite with office addition and two other bedrooms. Almost everything was recently upgraded to virtually new condition. All appliances in the kitchen are new plus new washer & dryer in the garage. Harwood floors throughout, new bathrooms, new lighting and paint. Also, all new landscaping in the front and back. Open today and tomorrow from 1:30-4:30.
More About: House , Lane , Open House

1031 Exchange Identification Rules 101
2008-01-26 03:18:00
3 property rule - identify 3 properties and then close escrow on one, two or three of them. This is the most commonly used rule.200% rule - identify up to an aggregate of 200% of the value of the relinquished property. You then must close escrow on one or more of them. No limit to the number of properties identified as long as they total in value no more than 200% of the relinquished value. Common when going in to a lower priced area or coming from a high priced single property.95% rule - unlimited number to be identified and you must close escrow on 95% of the properties that are identified. Common when buying a block of condos with separate parcel numbers which are run as an apartment building.If you want any guidance on how to use these rules or how to navigate the dates of the 1031 exchange process, give me a call or drop me a line. I think I've seen it all!
More About: Exchange , Rules , Identification

Santa Clara County (REO) Bank Properties Available
2008-01-25 19:10:00
This is our updated list of bank owned REO homes available in Santa Clara County :Address, City, bedrooms/baths, square feet & asking price: KNIGHTSBRIDGE LN, SANTA CLARA 3/2;1369 $515,900 QUICKERT RD, SARATOGA 6/5.5;4707 $2,175,000 ALDRICH WAY, SAN JOSE 3/2;1220 $513,900 BERRYWOOD DR, SAN JOSE 3/1;900 $439,900 CHAPEL HILL WAY, SAN JOSE 5/2;1593 $477,500 CHULA VISTA DR, SAN JOSE 2/1;1168 $574,900 CURTNER AVE, SAN JOSE 3/1.5;1635 $564,900 EASTON PL #42, SAN JOSE 2/2;975 $269,900 FLEDERMAUS, SAN JOSE 3/1;1176 $319,900 FLORENCE AVE, SAN JOSE 2/1;896 $419,900 FOOTHILL CT, SAN JOSE 4/2.5;2124 $649,900 JUDITH ST, UNIT #3, SAN JOSE 2/1;903 $249,900 LANIER LN, SAN JOSE 3/2;4791 $499,900 LANTERN WAY, SAN JOSE 3/2;1152 $459,900 N 14TH ST, SAN JOSE 2/1;1064 $399,000 ORLEANS DR, SAN JOSE 4/2.2;1352 $539,900 PEBBLE CT, SAN JOSE 2/2;1045 $369,900 S. 12TH ST #109, SAN JOSE 2/2;1130 $384,500 S. 20TH ST, SAN JOSE 3/2;1247 $500,900 SPIRO DR, SAN JOSE 2/1;938 $400,000 SUTTER ST, SAN JOSE 2/1;928 $369,9...
More About: Foreclosures , Homes

Zillow and Intero Real Estate
2008-01-22 20:09:00
Only certain companies are posting all their listings on mega sites such as Zillow and Trulia. Intero has a bulk feed into both these sites. Alain Pinel and Coldwell Banker do not. How can you pass up approximately 7 million unique real estate visitors every month combined??? Mario Pinedo, CCIM Intero Real Estate 415-269-6249 cell 408-342-3155 office Sent via my BlackBerry
More About: Real Estate

Jumbo loans under 5%
2008-01-22 19:53:00
There is a very aggressive lender offering jumbo rate home loans with 1 point under 5%! The jumbo rates which had a spread of over 200 basis points over conforming rates in the last 6 months are now falling in line with their smaller amount brethren loans. This is attributed to the secondary market coming back to life. This is a very good sign. Mario Pinedo, CCIM Intero Real Estate 415-269-6249 cell 408-342-3155 office Sent via my BlackBerry
More About: Loans , Jumbo

Palo Alto Homes No Foreclosures Here
2008-01-21 20:12:00
Silicon Valley companies are doing very well as is evident in premier communities like Palo Alto . Here's an interesting scenario for both the home buyer and the investor. A coworker just bought a home in midtown for $1,425,000 - not huge at all - 3 bedrooms, 1 bath and maybe 1,300 square feet on a normal lot. One day's rental listing on Craigslist.com generated 4 applicants all willing to pay her $4,800 asking rent! Does this make "investment sense"? Not if you consider cash flow as the only aspect of return on investment. Investment return also involves appreciation, debt reduction, tax benefits, depreciation deductions and holding period. Will my coworker make money on this deal - in my opinion - absolutely yes - does it take guts and risk - yes also - but markets like Palo Alto will forever be in demand - so the risk is quite mitigated.
More About: Foreclosures , Homes

The 88sj.com or just THE 88
2008-01-21 19:36:00
Kudos to the marketing team behind The 88 condo building in San Jose. The ad in the San Jose Business Journal is brilliant. "A 22 story Declaration of Independence. I want my city without the white picket fence. Without three-car garages, trips to the hardware store, to big-box chains, and every trip to anywhere that looks exactly like where I just came from. You can take your rakes, mowers, blowers and your leaf-packed gutters and keep them far away from me. And while you're at it, keep the minivan, the outskirts, and your keeping up with the Joneses, and keep it all to yourself. Just leave me to my own devices, leave me the skyline, spontaneity, and a lust for life, and all its experiences. Leave me a home above, the city below. And leave me THE 88."Very cool way to market a building.
More About: Homes

"Bank Owned REO's in Santa Clara County"
2008-01-18 20:14:00
Property Listing Price2590 KNIGHTSBRIDGE LN, SANTA CLARA 3/2;1369 $515,90015545 QUICKERT RD, SARATOGA 6/5.5;4707 $2,175,0001555 ALDRICH WAY, SAN JOSE 3/2;1220 $513,90011300 CHULA VISTA DR, SAN JOSE 2/1;1168 $574,9001076 CURTNER AVE, SAN JOSE 3/1.5;1635 $564,9002503 EASTON PL #42, SAN JOSE 2/2;975 $269,9001532 FLEDERMAUS, SAN JOSE 3/1;1176 $319,9002989 FLORENCE AVE, SAN JOSE 2/1;896 $419,900856 FOOTHILL CT, SAN JOSE 4/2.5;2124 $649,9004970 GAZANIA DR, SAN JOSE 3/2;1384 $469,9005598 JUDITH ST, UNIT #3, SAN JOSE 2/1;903 $249,9002640 LANIER LN, SAN JOSE 3/2;4791 $499,9003266 LANTERN WAY, SAN JOSE 3/2;1152 $459,90053 MILLAR AVE, SAN JOSE 2/1;1000 $489,900699 N 14TH ST, SAN JOSE 2/1;1064 $399,0001627 ORLEANS DR, SAN JOSE 4/2.2;1352 $539,9001312 PEBBLE CT, SAN JOSE 2/2;1045 $369,900951 S.12TH ST #109, SAN JOSE 2/2;1130 $384,50020 S.20TH ST, SAN JOSE 3/2;1247 $519,9...
More About: Clara , Santa , Owned , County , Bank

6-Unit Investment Apartment Complex
2008-01-17 23:37:00
IncomeGross Rents $62,580Other Income $1,200Gross Sched. Income $63,780(Vacancy) $1,877Net Gross Income $61,903(Expenses) $16,647Net Operating Income $45,256Investment AnalysisPurchase Price $895,000Down Payment $358,000Loan Amount $537,000Interest Rate 6.50%DCR 1.15Cash on Cash 1.55%Expense DetailsProperty Taxes $11,367Insurance $2,394Management $4,067Gas & Electric $1,864Water & Sewer $1,472Maintenance $4,466Garbage $698Miscellaneous $1,686FinancialsGRM 14.0Cap Rate 5.1%Price per Unit $149,166Price per Square Foot $248Square Feet 3,604Lot Size 5,662Age 48Zoning R3Newer HVAC systemsFully Occupied UnitsProfessionally ManagedVery well maintainedExcellent 1031 PropertyRents IncreasingVacancy Rates DownSilicon Valley Job GrowthAttractive Finance RatesSolid San Jose AssetIf you need any additional information call or email me...
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Duplexes, Fourplexes in Cupertino Schools
2008-01-17 00:53:00
Buying in Cupertino is not cheap by any means. One solution to entry into the market is buying a duplex, triplex or fourplex and living in one unit. Many of these properties where built with "owner-occupant" quality units. An example is some of the Pollock & Gambord style fourplexes that have a very distinct owner's unit in the front. These units typically had upgrades over the other units such as forced air heating, fireplaces, garages, dishwashers and more.There are two duplexes and two triplexes that we like in the Cupertino schools area.$799,000 for a duplex at 2884 Malabar, Santa Clara, CA with Cupertino schools.90 Kiely Blvd, a triplex for $869,888Lapa Drive, duplex, for $829,000andCraft Drive, $1,298,000, a triplex across the street from Cupertino High School.If you want us to run the numbers for you on how to make this work, just drop us a line. These are very nice properties and great way to buy Cupertino schools.
More About: Schools , Homes

Very low price point for a NNN investment in the Greater Bay Area
2008-01-15 23:01:00
This offering consists of an office building, two service bays and a parking area for the La Mesa RV Center, a regional chain of RV dealerships. Founded in 1972, La Mesa RV Center, Inc. has grown from it's original La Mesa, CA site to nine locations in California, Nevada, Arizona, Florida and Georgia. La mesa RV is a full service dealership,offering sales, financing, service and repairs.This is a strong tenant in a booming market. Well worth a look.Cap Rate: 6.25%Lease space included: 1,309 sf office, Service Bays, 110 Parking SpacesLand included: 1.15 acres$81,000 of net operating income to the new buyer.Offered at $1,296,000Call to tour this great investment.
More About: Investment , Price , Bay Area , Investments , Point

100% leased high growth center in booming Roseville
2008-01-15 22:42:00
New NNN Retail Shopping Center in High -Growth Market of Roseville , CAExcellent Location Near Housing and BusinessesAverage In-Place Rents Below Market Asking RatesAnnual Rental Increases and 100% CAM Reimbursements in All LeasesTo Be Delivered Free and Clear of DebtThis offering includes a 100% leased four-tenant retail building within Arbor View Village, located at the southeast corner of Pleasant Grove Blvd and Foothills Blvd in the upscale market of Roseville. The average rents at the offering are just over $2.65/sf, putting it at or below market for West Roseville creating stability and income. Arbor View Village is located in a market with growing rents,a growing population and a steady demand for retail space.This is a true 6.5 Cap Rate deal with the ability for new financing. Excellent 1031 exchange property. Offered at $3,150,000. Call us for a marketing package.
More About: Investments

Multi-Family (Apartment) Investment Seminar February 12th in Mountain View
2008-01-15 04:30:00
Yulin Lee of Residential Pacific Mortgage and myself - Mario Pinedo, CCIM of Intero Real Estate are speaking at Michael's in Shoreline Park, Mountain View , CA on Tuesday February 12th from 6:30-8:30pm. The topic of the seminar will be on apartment investments in the Bay Area. Yulin is an expert in lending on apartment investments. She will bring a great amount of knowledge to this forum. I will be speaking on market conditions, rates of return, investment strategies and more.We will be providing appetizers and drinks to keep you focused! If you are interested in attending, please RSVP with me via email. The class will be limited due to room size to 40 people.
More About: Family , Investment , Multi , Seminar

Mobile Home Financing from Bank of the West
2008-01-14 23:43:00
Mobile Home financing is slightly different than financing the typical home. Rates and terms are different. Qualification standards are differ also. One of the largest lenders in the San Jose market is Bank of the West . My favorite officer at Bank of the West is Leo Ortiz (408-998-6800)who specializes in mobile home loans.The typical loan scenario is something like this:80% loan amount - 20% down paymentminimum 620 FICO score with lower rates at 7201977 construction or newerno prepayment penalties20 year amortizationdouble wide homes or largerRates at approximately 8% with 1 point in feesescrow and other closing costs may be financed too46% overall debt to income ratio1-2% points for the loan feesFor my current listing on Monterey Road, the payment would be $1,070 per month plus $850 approximate space rent with 20% down payment on a $159,900 purchase price.Let me know if you want to see this wonderful home.
More About: Mobile , Financing , Homes

San Jose Apartment New Laws & Regulations Seminar
2008-01-11 01:53:00
New Laws and Regulations for San Jose Apartment Owners and ManagersThe City of San Jose Housing Department is hosting a free seminar well worth attending.Legislative issues that impact how you manage your rental unitsThe City of San Jose's rent control ordinanceRenters insuranceCode enforcementFair housingReasonable accommodation and modificationand much more...Thursday, January 31st, 6:00-8:45pmSan Jose City Hall, Wing, Room W-120200 E Santa Clara Street, San Jose, CA 95113RSVP Robert Lopez 408-975-4402 or robert.lopez2@sanjoseca.gov
More About: Seminar

Short Sale or Foreclosure - What is Best?
2008-01-08 19:00:00
Why consider a short sale of a property in lieu of giving the property back to the bank via a foreclosure? The biggest advantage is to avoid a foreclosure mark on your credit report. Also, this is a more cooperative approach with your lender. The lender may be more forgiving by giving you more time to market your home. This means you can stay in your home longer. There also may be equity in your home which can be saved if you sell your house (this then would not be a short sale). If there is equity and you are just not able to keep up with the payments, then your net may be more than if the property sells at a trustee sale auction. The trustee sale auction will almost always yield a far lower sales price than what the normal market would bear. If you are facing the strain of higher payments, please do the first thing, talk to your bank and be honest about the situation. If you need help in the sale of your home, I'd be glad to review some scenarios for you.
More About: Foreclosures , Sale , Foreclosure , Short

Stunning Bank REO in Saratoga
2008-01-08 02:52:00
4,700 square feet of gorgeous 5 year old home in the hills of Saratoga on 5+ private acres. Saratoga schools. Views of the entire South Bay up to San Francisco. This is a fantastic opportunity. This home was for sale in 2002 for $5,500,000. Call for a private tour at 415-269-6249.
More About: Foreclosures , Homes , Stunning , Bank

Lake Tahoe Area Shopping Center for Sale
2008-01-07 01:24:00
There is a very well located shopping center for sale on the way to Lake Tahoe . Offered at $2,950,000 with a very attractive assumable loan. 6.5 cap rate. Fully occupied. Shadow anchored by Safeway and Long's. Call us for this great opportunity.
More About: Shopping , For Sale , Sale , Investments