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Gorgeous Silver Creek Valley Country Club Home for Sale
2007-10-23 04:00:00
5230 Birkdale Way in the fabulous Silver Creek Valley Country Club just went on the market. 3,114 square feet, 4 bedrooms plus a den, 3.5 baths, huge vaulted ceilings, pool, jacuzzi, valley views, large kitchen, great living room and dining room. Offered at $1,349,950. This is a very good value.
More About: For Sale , Home , Sale

Cupertino Short Sale Home on Market
2007-10-23 03:44:00
There is a 1,500+ square foot, 3 bedroom, 2 bath home on the market with a Cupertino address and Cupertino schools that may be a short sale situation. The home is listed for $915,000 and is very possibly a good deal in this strong Cupertino market. Let me know if you want to tour.
More About: Foreclosures , Market , Home , Sale

50 Short Sales in Campbell, West San Jose, Sunnyvale
2007-10-22 21:56:00
I am tracking 50 single family home listings in the western part of Santa Clara County that are currently available for sale in a short sale situation. These are just the single family homes in that area. There are many more condos and townhouses available too. If you are interested in working with us on buying a good deal, please contact me as soon as possible.
More About: Foreclosures , San Jose , Sales , Sunnyvale , West

Short Sale Consumer Protection Laws
2007-10-22 00:16:00
There is a California state law that limits investor purchases of short sale homes. The limitation affects those sales when the home is owner-occupied and the investor does not intend to live in the home he purchases. The exclusions from this situation would be if the home is vacant, tenant occupied or if the purchaser intends to use the property as his principal residence. There are teeth in this law too. Realtors can be held financially and criminally liable as well as the investor.
More About: Foreclosures , Laws , Consumer , Sale , Short

Fourplex Stats Santa Clara County - Dismal
2007-10-17 04:54:00
Courtesy of TIC expert John Reyes of Welton Street Investments comes startling data on the fourplex market for the month of September 2007.In Santa Clara County (excluding Los Altos and Palo Alto) there are:Active Listings 137Average Days on Market 884plexes In Escrow 10Months of Inventory 13.7Closings !!!!2!!!!The values below are not just for September as only 2 closings skews the averages:Average sales price: $980,000Average price per unit: $246,000Average price per square foot: $275Average GRM: 17.5I'll just let you think about the closing number - I hope it goes up next month...
More About: Stats , Santa Clara

Writing Multiple Offers
2007-10-16 04:43:00
A Trulia Voices question that came up today was whether a buyer can make multiple offers on different homes at the same time. Of course they can. This is a good strategy in a seller's market as well as in a buyer's market. It give better chances to a buyer when normally the seller is holding all the cards - or information. Normally a buyer will receive counter offers from all his bids. Then the buyer can weigh the best value vs. the different amenities and locations of each house. At this stage the buyer is closer to knowing that each seller's true motivation is in reference to the price they are willing to sell.
More About: Writing , Offers , Offer

Outstanding Short Sale Property in San Jose's Evergreen Area
2007-10-15 05:00:00
I just spent the weekend researching the Evergreen area of San Jose for a great listing I have coming up next week. What I found was a fantastic short sale opportunity that is ripe for the picking. It's a home that has been listed at $739,000 for 1,960 square feet, 4 bedroom, 2.5 bath home on a large 8,500 sqft lot in a great neighborhood. This is not the listing I was working on. It is a property that is currently on the market begging for a buyer to step in. The sellers are selling at a price less than what they owe. Most cases like this are in an effort to not have the property foreclosed upon and save their credit. If you want some info on this fleeting opportunity, let me know as soon as possible.
More About: Property , Sale , Area , Short

Reverse Mortgages
2007-10-09 19:41:00
Corey Matelli of The Reverse Mort gage company just spoke at my BNI networking meeting this morning about reverse mortgages. One interesting thing I learned was reverse mortgages can be refinanced. A client of his who took out a reverse mortgage two years ago, recently refinanced out another $180,000. Her house had appreciated in the last two years and she had also aged another 2 years. Both of these criteria allowed the bank to put a new loan in place and she walked with a large sum of money. There is definitely a misconception about the permanence of reverse mortgages. If you are 62 years of age or older, this very well may be a great solution for you. Corey's website is very helpful - check it out.
More About: Financing , Mortgages , Ages

San Francisco Real Estate - South Park
2007-10-08 04:57:00
The South Park neighborhood is wonderful - no Cartman to be found. This tucked away street encircling a wonderful little park is predominantly commercial space with a few apartments scattered around. If you are looking for the hub of the architectural firms in San Francisco - go to South Park. There is a 2,000 square foot space for lease perfect for a great neighborhood restaurant. We spent a couple hours today at a great French restaurant snacking on pate and great sourdough bread. No crowds, wonderful weather and a vibrant little street - that is what makes so many of San Francisco's neighborhoods so desirable.
More About: Estate , Real Estate

Foreclosures San Mateo County
2007-10-06 19:37:00
I just got a call from an investor friend of mine who was at this morning's San Mateo County home auction. The auction was delayed because the crowd became too big. The police had to be called to do crowd control! My thoughts - way too many people being "educated" at investor seminars on how to benefit from the foreclosures and to get rich quick. When everybody is doing it... There are still real estate market segment where you can get very good returns, safely and not have to be fighting with mobs as if Loehman's was having a year end sale! BTW - I buy all my 100% cotton dress shirts there - 15 neck, 32/33 - in case you feel generous:-)
More About: Foreclosures

Real Estate in Spanish - Casas en Espanol
2007-09-29 07:57:00
Si quieres ayuda en comprar o vender tu casa o piso en California, yo te puedo ayudar. Desde 1991, estoy ayudando a duenos de casas y personas que quieren ser duenos, con sus asuntos imobilarias. Por favor llamame cuando puedas a 408-342-3155. Gracias!
More About: Estate , Real Estate , Spanish , Real , Span

Foreclosures San Jose
2007-09-28 22:14:00
Please heed this warning - banks are foreclosing on properties. This may seem obvious to many of you. And the reality is that for some home owners - that possibility is not given its due attention. The majority of homes that are foreclosed upon, the owners did not communicate with their lender. This lack of contact, lack of urgency to work out a solution, solidifies the bank's resolve to foreclose. Banks are in a difficult position right now, they are faced with hundreds or thousands of loans in default. They will be cooperative to the home owners who are in constant communication with them. They will also be efficient in the foreclosure process when little or no communication comes from the homeowner. We can hold back the massive losses in the foreclosure arena if we work with the banks to get resolutions in place. If you are facing default, please contact your lender immediately and put into place a repayment plan. Thanks for reading.
More About: Foreclosures , San Jose , Jose

One Rincon Hill San Francisco New Condo
2007-09-28 19:30:00
Closings for some of the One Rincon Hill condos in the first tower are scheduled for January. I was just talking to a client who has a deposit down on one of the units. She is looking for an equity partner or perhaps a sale of her position. If anyone is interested to know more, please give me a call.
More About: San Francisco , Condo , Homes , Francisco

Laws to Live By - By Gino Blefari - CEO Intero Real Estate
2007-09-28 19:14:00
Law of Clarity- The clearer you are about your goals and objectives, the better you are in achieving them.Law of Priorities- Your ability to set clear and accurate priorities on your time determines the entire quality of your lifeLaw of Posteriorities-before you start something new you must discontinue something oldLaw of the Most Valuable Asset- Your most valuable asset is your earning abilityLaw of Planning- Every minute spent in planning saves 10 minutes in executionLaw of Rewards- Your rewards will always be determined by your resultsLaw of Time Pressure- There?s never enough time to do everything but there?s always enough time to do the most important things
More About: Estate , Real Estate , Laws , Live , Real

Santana Row - Capital of San Jose Real Estate
2007-09-27 01:48:00
There is turmoil and traction in Santana Row. The apex of real estate new money and high tech start up playground makes for some interesting stories. There have been foreclosures, short sales and financial difficulties. There also have been winners buying those same foreclosures, short sales and difficulties. It is definitely a wonderful place to live (for some who like that sort of thing) and those who are bullish and solvent are betting long term on Santana Row.
More About: Estate , Real Estate , San Jose , Homes , Real

Silicon Valley For Sale Homes Inventory Increasing
2007-09-26 08:08:00
The inventory trend is definitely up. This is still a bifurcated valley with the west side doing much better than the rest. Time to make some offers...
More About: For Sale , Sale , Inventory , Homes , Silicon Valley

Mortgage Interest Rates Up? Down? What?
2007-09-25 23:12:00
The fed cut rates for the first time in 4 years!!!!!By .5% too!!! And sooooo what? Are mortgage rates lower? That is the question most people want answered. The answer is sadly no. Short term rates get affected immediately, so the monthly and one year ARMs will eventually adjust down. The most popular 5, 7, 10 and 30 year loans will not come down. There is now fear of inflation due to the rate cut which means investors will not oversubcribe offerings of the longer term notes - which tips the see-saw toward higher interest rates. Frustrating, confusing, yes and yes. I do believe that the housing market has been beaten up and will rebound next year. This is definitely the time to consider going long in real estate - IE: buy.
More About: Financing , Interest Rates , Mortgage , Homes , Interest

Silver Creek Valley Country Club Real Estate
2007-09-15 01:46:00
This is a very special place in Silicon Valley. Very well designed community of homes encircling a golf course - and quite a challenging golf course! A great club house, a wonderful community pool and tennis center, all make this pristine community a lovely place to live. All the homes are spacious, well-designed with light and volume. The social atmosphere of Silver Creek is also something special. There is one elementary school within the neighborhood that most kids attend. Residents in this neighborhood will definitely meet the neighbors. Not so normal in the rest of Silicon Valley. Homes range from spacious condos to 5,000+ square foot mansions. If you are interested in a wonderful home that we have coming on the market soon, drop me a line!
More About: Country , Estate , Real Estate

TIC units in San Jose?
2007-09-12 07:07:00
Yes, the trend is more quickly seeping out of San Francisco. Tenant in Common divisions of duplexes, fourplexes and apartment buildings is becoming more accepted in the Peninsula and the South Bay. The impressive Andy Sirkin is speaking this Wednesday Sept. 19th to a Silicon Valley audience of buyers interested in dividing fourplexes to live in. With a little down payment and a good credit score, people can get into a unit for nearly $250,000 or less in pricey San Jose . There are limitations to this TIC arrangement, although they will wane as the market accepts it more. I'll be listening to Andy Sirkin tomorrow in San Mateo as he speaks on his specialty of writing legal documents governing the TICs
More About: Units , Unit

Foreclosures in Silicon Valley
2007-09-12 06:59:00
The tide of foreclosures is rising in even the most solid of areas in Silicon Valley . I do believe though this is just a distribution of wealth from those with shaky financials to those who are ready to benefit from this weakness. There are very many people watching for short sales, foreclosure sales and bank REOs. The low rate of return in local investment properties also makes these low cash flow investments at least as attractive as their alternatives. There is also the ease of flipping a house that was well-acquired. The wealth of this valley will offset any difficulties that a small percentage of people are feeling.
More About: Foreclosures

Investment Shopping Center Santa Clara for sale
2007-08-31 05:03:00
I just saw a listing in Santa Clara that is perfect for an owner-user. Multi-tenant retail in Santa Clara County is very had to come by. This is a nice deal on Keily and Homestead in a very good area of Santa Clara. Priced at $495 per foot, with 4,758 square feet on a 16,000 sqft lot - this is a nice deal. Rents are low. They do have very good verifiable upside. Interested?
More About: Shopping , For Sale , Investment , Sale

1031 Exchange into NNN commercial property
2007-08-30 06:19:00
It is possible to do a 1031 tax deferred exchange from an equity rich position like a rental house in the Bay Area to a cash flow vehicle which dramatically increases cash flow. My client last year traded his 5 rental houses into one NNN drug store and tripled his income. He also eliminated his tenants' annoying phone calls!
More About: Commercial , Property , Exchange , Investments , Merc

San Francisco TIC "condos"
2007-08-29 05:56:00
Andy Sirkin is the premier attorney to consult when structuring a Tenant In Common (TIC) investment purchase in the San Franc isco Bay Area. It is definitely attractive to purchase a home in San Francis co significantly less in price than the same size condo. What are the downsides? Will you ever be able to convert to a true condo? Who oversees the overall maintenance of the building? These are significant issues that need to be answered when buying a TIC. What are the advantages besides price? I will follow up with some more research into this very viable home option soon.

Bad Real Estate Market or What?
2007-08-28 18:13:00
Please consider that there is always a bad real estate market AND a good real estate market at the same time. There is always an advantage position in every market. If there is low inventory and many buyers (seller's market) - then it's great to be a seller and not so great to be a buyer. In today's market - it's not so great to be a seller and very good to be a buyer. If you have the ability to play the side of the fence that is attractive at any give time, do so. I just sat down with a client yesterday who owned a fourplex in San Jose. We decided that it was not the time for him to sell. It was definitely a time for him to buy. Prices are down approximately 15% in that fourplex neighborhood in a year and rents are up maybe 10% in the same year. The trend for both those indices will remain the same for a while. Those who make strong, long-term purchase decisions this year amidst all the negativity will do very well in the medium to long run.
More About: Estate , Real Estate , Real Estate Market , Market , Real

Divorce and Real Estate
2007-08-28 18:02:00
There are many "life events" that affect how we manage our real estate assets. One event, that I have been personally educated in, is going through a divorce. Whether you own one family home which you may want to sell to go your separate ways or you have a portfolio of properties that must be divided - divorce requires planning for best results. Capital gains issues are very important. 1031 issues too play a big role if you have investment property. I humbly say that my ex and I did mediocre at best planning. This was due to antagonistic communication and general distrust. There is never win-lose - that really is lose-lose. Play the win-win game - no matter how tempting is revenge. Both parties can walk away happier and have more assets to start their "phase two". I plan to write more specifics about divorce and real estate issues in further blog entries.
More About: Divorce , Estate , Real Estate , Real , Divo

Real Estate Investment Club - from Hell
2007-08-23 08:59:00
BiggerPockets.com had a great article about real estate investment clubs too.Please read. Yes, I know, the appetizers are tempting at these meetings...
More About: Estate , Real Estate , Real Estate Investment , Investment , Club

I Love East Valley San Jose Real Estate
2007-08-23 08:38:00
Zone 4 for you in the industry in Santa Clara County - or East Valley - but more specifically the are between Evergreen to the South and North Valley to the ________. If there has ever been a more obvious real estate play in recent history, this is it. Evergreen was nothing but green hills 20 years ago - now it is Silver Creek Valley Country Club and a slew of $1,000,000+ homes. North Valley & Milpitas was built out with track homes and yet, it was not THE place to be by any means. Now look at North Valley and especially Milpitas - prices have soared and demand is high. What area is in between and will get squeezed price-wise? Yes, I highly suggest buying in East Valley - the area will definitely regentrify over the next decade. Homes will get more expensive and retail will come back bigger and better. My strategy, buy single family homes and rent them out. Rents will rise too. This boring investment method make people rich - just ask all my clients who did this in the 70s and 80s.
More About: Love , Estate , Real Estate , San Jose

Real Estate Investment Clubs
2007-08-23 08:29:00
It was in front of my face and I didn't see it. Pat Kitano of Transparent Real Estate made it all so clear to me in his article about a certain real estate investment club. Please read and be enlightened - or at least be a bit more cautious.
More About: Real Estate , Real Estate Investment , Clubs , Investment

Whew!!! Bank of America bails out Countrywide's possible bankruptcy
2007-08-23 08:05:00
In a late move today, Bank of America invested over $2 billion into flailing Countrywide Mortgage. Countrywide has notes on 1 out of every 7 households in the US! They are definitely in rough waters with all the foreclosures. I am sure BofA felt that saving this sinking ship is good for the whole mortgage industry and good for BofA. It also got a sweet deal from Countrywide which had few sources left for a bailout. Stock is trading after hours at $25 - BofA now has rights to buy the stock at $18! More details from MarketWatch.
More About: Financing , Bankruptcy , Bank of America

Trulia wins my heart
2007-08-21 08:46:00
I received a Build-a-Bear today with a Trulia button on it. It also has a squeeze hand which when pressed says "You are trulia wonderful" - well that's probably incorrect, but it is close to what is says. The bear was quickly absconded by my daughter. So, I only heard the phrase once. The note christened my a centenarian - I guess I answered over 100 questions on Trulia Voices. Well Trulia, I am listening. If I get to 200 do I get a trip to Las Vegas, perhaps the Wynn Hotel or I'd settle for the Bellagio. $200 worth of gaming chips too. That would be very, very nice:-)
More About: Heart , Wins