Stimulus Bill--What it means to the real estate market

Wondering what the recently passed stimulus bill means to the housing market? Here are some bullets for you to know:

1) the loan limits will be raised to $727,000 in high cost areas (that would be us in the bay area)
2) the tax credit will be raised to $8,000 with NO payback [a true credit]
3) interest rates have come down 125-150 basis points (1.25-1.5%)
4) the bill has over $50 billion in it for foreclosure mitigation, with Geitners Treasury plan signaling that the second half of TARP and TALF will be used to mitigate foreclosures through a government guarantee, drive down interest rates by buying another $200-300 billion of mortgage paper from the GSES's thereby freeing them up to do the same with new mortgages, and Fannie has just agreed to lift the cap of 4 investment properties eligible for loans and raise it to 10--YEAH!!! I was waiting for this one!

(summary courtesy of the National Association of Realtors)

Foreclosure & Pre Foreclosre websites--BEWARE!

It's never as good as it seems..Everyone is out to make a buck right now so be careful of foreclosure/pre foreclosure websites that give you teaser addresses that list ridiculously low prices and than ask you to pay for more details.

We often encounter buyers who come in with lists from these websites asking us why the MLS doesn't list these cheap homes and how they can buy them. Truth is that some of these homes are not even for sale. The prices that are being listed are usually loan amounts for first or second trust deeds that are in default. If you see an incredibly low number listed, be skeptical as it is usually the 2nd loan amount. It DOES NOT mean that it is for sale at that price

If you are a savvy investor who knows how to approach homeowners, put contracts together, and real estate disclosure requirements than these websites can be helpful. If you don't know what to do with the information given than it's best that you contact your Realtor for help in this market. Don't get sucked in!!!

February Sampler of Bank Owned and Pre-Foreclosure Properties

Today there are 819 condominium properties in Santa County on the market that are either Bank Owned or in Pre-foreclosure. Below is a quick sampling of what is out there. For a full list contact me and I can email a spreadsheet! if you don't know the difference between the 2 stay tuned... Good news if you are out to buy!

55 CHURCH ST #1101/Los Gatos/769000/2bed/2baths/1404sf
254 EUCALYPTUS TE/Sunnyvale/729000/3bed/2.5baths/1629sf
901 GARRITY WY/Santa Clara/688000/3bed/2.5baths/1894sf
5141 CAPANELLE TE/San Jose/659000/2bed/2.5baths/1366sf
4059 CRANDALL CI/Santa Clara/650000/3bed/2.5baths/1716sf
4550 LICK MILL BL/Santa Clara/649000/3bed/2.5baths/1894sf
734 SENECA TE/Sunnyvale/648888/3bed/3baths/1687sf
4478 LAIRD CI/Santa Clara/645000/3bed/3baths/1588sf
4453 LAIRD CI/Santa Clara/645000/3bed/3baths/1588sf
4360 RIVERMARK PY/Santa Clara/638888/3bed/3baths/1716sf
849 AGNEW RD/Santa Clara/635000/3bed/2.5baths/1700sf
120 CARLTON AV #2/Los Gatos/589000/3bed/2.5baths/1604sf
833 AGNEW RD/Santa Clara/575000/2bed/2.5baths/1616sf
4461 LITTLE MEADOW CT/San Jose/568484/4bed/2.5baths/1489sf
422 E EVELYN AV #201/Sunnyvale/565000/3bed/3baths/1821sf
256 FRINGE TREE TE/Sunnyvale/562000/3bed/2.5baths/1629sf
671 MONTARA TE/Sunnyvale/548888/3bed/3baths/1612sf
530 PORPOISE BAY TE #C/Sunnyvale/540000/2bed/2.5baths/1480sf
4534 LAIRD CI/Santa Clara/524900/2bed/2.5baths/1437sf
14345 SARATOGA AV #34/Saratoga/524000/2bed/1baths/925sf
1354 DALE AV #13/Mountain View/522900/2bed/2.5baths/1478sf
648 ASH CT/Campbell/520000/4bed/3baths/1412sf
541 TYNDALL ST/Los Altos/508900/2bed/2baths/956sf
173 ORTEGA AV/Mountain View/499999/2bed/2.5baths/1584sf
134 CARROLL ST #303/Sunnyvale/499000/3bed/2baths/1200sf
443 ALEGRA TE/Milpitas/499000/3bed/2.5baths/1547sf
87 JACKLIN CT/Milpitas/499000/3bed/3baths/1657sf
506 N CASHMERE TE/Sunnyvale/499000/2bed/1.5baths/1188sf
19218 VINEYARD LN/Saratoga/495000/2bed/1.5baths/1088sf
553 CRYSTALBERRY TE/San Jose/489900/3bed/1.5baths/1306sf
895 QUINCE AV #12/Santa Clara/488800/2bed/2.5baths/1470sf
1277 POPLAR AV #109/Sunnyvale/487600/2bed/2.5baths/1342sf
175 EVANDALE AV #6/Mountain View/485900/2bed/2.5baths/1167sf
102 ESCOBAR AV/Los Gatos/479000/2bed/2baths/1015sf
411 TERRA MESA WY/Milpitas/475000/3bed/2.5baths/1375sf
315 DUNSMUIR TE #1/Sunnyvale/470000/3bed/3baths/1150sf
578 LATIMER CI/Campbell/469950/3bed/2.5baths/1364sf
43 PARC PLACE DR/Milpitas/460000/3bed/2baths/1530sf
2383 SHORESIDE CT/Santa Clara/458000/4bed/2.5baths/1800sf
146 MARYLINN DR/Milpitas/455000/2bed/2.5baths/1378sf
6095 CALLE DE AMOR/San Jose/450000/2bed/2.5baths/1490sf
449 Costa Mesa TE #D/Sunnyvale/450000/3bed/2baths/1094sf
2266 CREEK BED CT/Santa Clara/449900/4bed/2.5baths/1800sf
154 MILMAR WY/Los Gatos/449000/2bed/2baths/1015sf
27 CURTIS AV/Milpitas/446500/3bed/2baths/1530sf
1081 REED AV #C/Sunnyvale/440000/3bed/1.5baths/1215sf
86 MARYLINN DR/Milpitas/439900/4bed/2baths/1505sf
35 CURTIS AV/Milpitas/435000/3bed/2baths/1530sf
1937 LANDESS AV/Milpitas/432000/2bed/1baths/900sf
359 IMAGINATION PL/Milpitas/430000/3bed/3baths/1243sf
183 PARC PLACE DR/Milpitas/430000/3bed/3baths/1280sf
334 SANTANA RW #224/San Jose/429000/1bed/1baths/880sf
1094 MENTE LINDA LP/Milpitas/429000/2bed/2baths/1372sf
858 FASCINATION PL/Milpitas/425000/2bed/2baths/1158sf
1135 N ABBOTT AV/Milpitas/425000/3bed/2baths/1345sf
2111 LATHAM ST #313/Mountain View/424888/2bed/2baths/1206sf
3901 LICK MILL BL #369/Santa Clara/420000/2bed/2baths/1280sf
2560 S PARK LN/Santa Clara/419000/3bed/2baths/1334sf
701 N RENGSTORFF AV #2/Mountain View/409000/2bed/1baths/1332sf
3901 LICK MILL BL #325/Santa Clara/405000/2bed/2baths/1148sf
801 S WINCHESTER BL #6304/San Jose/400000/2bed/2baths/986sf
3128 LOMA VERDE DR #312/San Jose/399950/2bed/2baths/901sf
3115 LOMA VERDE DR #31/San Jose/399900/2bed/2.5baths/1308sf
621 E EL CAMINO REAL #201/Sunnyvale/399500/2bed/2baths/878sf
1921 ROCK ST #4/Mountain View/399000/2bed/1.5baths/972sf
905 W MIDDLEFIELD RD #907/Mountain View/399000/2bed/2baths/998sf
1883 AGNEW RD #213/Santa Clara/399000/2bed/2baths/1152sf
505 CYPRESS POINT DR #240/Mountain View/399000/2bed/2baths/1105sf
453 ALBERTO WY #D158/Los Gatos/399000/2bed/2baths/1076sf
1671 BRANHAM PARK PL/San Jose/399000/2bed/2baths/984sf
5009 PONDEROSA TE/Campbell/392900/2bed/1.5baths/970sf
2025 CALIFORNIA ST #00041/Mountain View/388000/2bed/1baths/895sf
2398 AVENIDA DE GUADALUPE/Santa Clara/384500/2bed/2baths/1121sf
2601 CORTEZ DR #1202/Santa Clara/382422/3bed/2baths/974sf
2559 LANCASTER CT/Santa Clara/379000/3bed/1.5baths/1311sf
2071 FOXHALL LP/San Jose/375000/2bed/1.5baths/1004sf
905 APRICOT AV #F/Campbell/374900/2bed/2baths/1187sf
1777 LAFAYETTE ST #124/Santa Clara/374000/1bed/1baths/1530sf
2580 HOMESTEAD RD #2201/Santa Clara/369900/3bed/2baths/0sf
607 ARCADIA TE #101/Sunnyvale/365750/2bed/2baths/1058sf
1721 CALIFORNIA ST #23/Mountain View/365000/2bed/2baths/860sf
1579 DELANTE TE/San Jose/358000/2bed/2.5baths/1013sf
19419 VINEYARD LN/Saratoga/354900/1bed/1baths/724sf
2253 CREEK BED CT/Santa Clara/350000/2bed/1.5baths/1215sf
1728 BRADDOCK CT/San Jose/350000/2bed/1baths/865sf
854 PRINTEMPO PL/San Jose/350000/2bed/2baths/925sf
999 W EVELYN TE #81/Sunnyvale/350000/2bed/2baths/1123sf
1921 ROCK ST #20/Mountain View/349900/2bed/1baths/972sf
1269 POPLAR AV #409/Sunnyvale/349888/2bed/1.5baths/1045sf
1840 PETALUMA CT/Milpitas/349000/3bed/1.5baths/1150sf
880 E FREMONT AV #328/Sunnyvale/349000/2bed/1baths/850sf
4415 NORWALK DR #21/San Jose/345000/3bed/2.5baths/1374sf
2282 CREEK BED CT/Santa Clara/342000/2bed/1.5baths/1215sf
103 SERENITY PL/Milpitas/339000/2bed/2baths/1012sf
5060 PLAZA CORONA/Santa Clara/335000/3bed/1.5baths/1240sf
3043 KAISER DR #A/Santa Clara/330000/2bed/1.5baths/1097sf
371 N 1st ST #2/Campbell/329900/2bed/1baths/903sf
490 AUBURN WY #2/San Jose/329000/2bed/1.5baths/1099sf
1031 CLYDE AV #1203/Santa Clara/329000/2bed/2.5baths/1300sf
2250 MONROE ST #162/Santa Clara/325000/2bed/1baths/858sf
5561 RUSSO DR/San Jose/324900/2bed/2baths/1104sf
2201 MONROE ST #607/Santa Clara/320460/2bed/1baths/853sf
3588 PAYNE AV #14/San Jose/320000/3bed/2baths/1032sf
4891 LAFAYETTE ST/Santa Clara/320000/3bed/1.5baths/1260sf
1031 CLYDE AV #601/Santa Clara/319950/2bed/2.5baths/1300sf
801 S WINCHESTER BL #5300/San Jose/319900/1bed/1baths/692sf
1031 CLYDE AV #1504/Santa Clara/319900/3bed/2baths/1266sf
2040 MAIN ST #120/Santa Clara/315000/2bed/2.5baths/1125sf
2869 S BASCOM AV #501/Campbell/309500/2bed/2baths/841sf
880 E FREMONT AV #701/Sunnyvale/308000/1bed/1baths/712sf
325 N 3RD ST #2/Campbell/300000/2bed/1baths/903sf
3338 KIMBER CT #9/San Jose/299950/2bed/1baths/886sf
1001 E EVELYN TE #121/Sunnyvale/299900/2bed/1baths/822sf
1118 N ABBOTT AV/Milpitas/299000/3bed/2baths/1143sf
2030 MAIN ST #4/Santa Clara/299000/3bed/2baths/1272sf
2580 HOMESTEAD RD #4201/Santa Clara/299000/2bed/1.5baths/990sf
880 E FREMONT AV #712/Sunnyvale/299000/1bed/1baths/712sf
891 W CALIFORNIA AV #M/Sunnyvale/299000/2bed/1.5baths/760sf
4914 PLAZA ESCUELA/Santa Clara/299000/2bed/1.5baths/1080sf
1143 REED AV #A/Sunnyvale/299000/2bed/1baths/858sf
3901 LICK MILL BL #234/Santa Clara/291900/1bed/1baths/908sf
1675 DENNIS AV/Milpitas/290000/3bed/1.5baths/1146sf
192 JUNIPERO DR #1/Milpitas/289888/3bed/1baths/1050sf
255 S RENGSTORFF AV #95/Mountain View/289000/1bed/1baths/812sf
1013 N ABBOTT AV/Milpitas/285000/3bed/2baths/1143sf
3037 KAISER DR #E/Santa Clara/285000/2bed/1.5baths/1097sf
1043 N ABBOTT AV/Milpitas/284900/3bed/2baths/1143sf
812 N ABBOTT AV/Milpitas/280888/3bed/2baths/1143sf
2250 MONROE ST #119/Santa Clara/280000/1bed/1baths/716sf
956 KIELY BL #G/Santa Clara/279999/2bed/2baths/956sf
280 EASY ST #00406/Mountain View/279000/2bed/1baths/894sf
2201 MONROE ST #208/Santa Clara/275900/2bed/1baths/853sf
320 AUBURN WY #25/San Jose/275900/2bed/1baths/924sf
535 VALLEY FORGE WY #1/Campbell/275000/2bed/1baths/840sf
348 LYNN AV/Milpitas/274000/3bed/1.5baths/1122sf
255 S RENGSTORFF AV #133/Mountain View/270900/2bed/1baths/935sf
105 SURREY CT/Milpitas/269950/3bed/1.5baths/1328sf
453 N RENGSTORFF AV #3/Mountain View/269000/2bed/1baths/828sf
3155 PAYNE AV #15/San Jose/268000/2bed/3baths/1300sf
1113 N ABBOTT AV/Milpitas/262900/2bed/1baths/863sf
380 AUBURN WY #19/San Jose/262000/2bed/1baths/924sf
255 S RENGSTORFF AV #142/Mountain View/260000/1bed/1baths/731sf
2201 MONROE ST #104/Santa Clara/260000/2bed/1baths/853sf
1654 KENNEDY DR/Milpitas/259900/3bed/1.5baths/1146sf
3041 KAISER DR #D/Santa Clara/259000/2bed/1.5baths/1097sf
4425 NORWALK DR #1/San Jose/259000/2bed/1baths/924sf
428 DEMPSEY RD #128/Milpitas/252800/3bed/2baths/1021sf
3594 PAYNE AV #00001/San Jose/250000/2bed/1baths/910sf
952 KIELY BL #H/Santa Clara/250000/2bed/2baths/956sf
1967 LANDESS AV/Milpitas/250000/3bed/1.5baths/1155sf
880 N WINCHESTER BL #202/Santa Clara/250000/1bed/1baths/781sf
3592 PAYNE AV #1/San Jose/249999/3bed/2baths/1032sf
1324 HIGHLAND CT/Milpitas/249000/3bed/1.5baths/1155sf
150 JUNIPERO DR #2/Milpitas/239900/2bed/1baths/882sf
1360 HIGHLAND CT/Milpitas/239900/2bed/1.5baths/1005sf
330 LYNN AV/Milpitas/235000/2bed/1.5baths/976sf
1026 N ABBOTT AV/Milpitas/235000/2bed/2baths/1174sf
144 SURREY CT/Milpitas/230000/2bed/1.5baths/980sf
327 SAN PETRA CT #2/Milpitas/230000/2bed/1baths/882sf
178 JUNIPERO DR #2/Milpitas/230000/2bed/1baths/882sf
1379 HIGHLAND CT/Milpitas/228000/2bed/1.5baths/1005sf
1750 HALFORD AV #318/Santa Clara/225000/1bed/1baths/678sf
127 JASMINE CT/Milpitas/225000/2bed/1baths/873sf
1032 N ABBOTT AV/Milpitas/220890/2bed/1baths/863sf
1750 HALFORD AV #217/Santa Clara/220000/1bed/1baths/678sf
492 DEMPSEY RD #192/Milpitas/219000/2bed/1baths/842sf
1372 Lowland CT/Milpitas/214500/2bed/1.5baths/1005sf
185 UNION AV #81/Campbell/210888/1bed/1baths/704sf
1156 N ABBOTT AV/Milpitas/209950/3bed/2baths/1174sf
1338 SW SHAWN DR #4/San Jose/209000/2bed/1baths/798sf
1317 JOPLIN DR #3/San Jose/205000/2bed/1baths/903sf
492 DEMPSEY RD #194/Milpitas/200000/2bed/1baths/842sf
936 KIELY BL #D/Santa Clara/199999/2bed/1baths/882sf
1354 BRANHAM LN #3/San Jose/199900/2bed/1baths/903sf
1376 BRANHAM LN #3/San Jose/199000/2bed/1baths/903sf
1760 HALFORD AV #271/Santa Clara/195000/1bed/1baths/678sf
980 KIELY BL #317/Santa Clara/195000/1bed/1baths/622sf
1334 JOPLIN DR #3/San Jose/187500/2bed/1baths/903sf
1343 SCOSSA AV #1/San Jose/184900/2bed/1baths/810sf
364 SAN MIGUEL CT #3/Milpitas/182800/2bed/1baths/882sf
1374 BRANHAM LN #4/San Jose/175000/2bed/1baths/798sf
340 RIO VERDE PL #4/Milpitas/175000/2bed/1baths/924sf
942 KIELY BL #C/Santa Clara/174999/1bed/1baths/440sf
1339 SHAWN DR #2/San Jose/160000/2bed/1baths/903sf
4807 CAPAY DR #4/San Jose/159900/2bed/1baths/798sf
4608 CAPAY DR #4/San Jose/150000/2bed/1baths/798sf

FEB 19TH: Home Buyers Workshop & Getting a Loan

One of the key components of the home buying process is getting the MONEY! It's a tight lending market right now. Yes, interest rates are low but it's not that easy to get a loan. Don't be fooled by advertising and low rates. They are out there, but find out whether or not you can qualify for them and what the guidelines are.

Don't worry! There will be no Realtors at this workshop trying to push homes on you, just a great way to get educated if you are planning on jumping in this market.

If you have any questions feel free to contact me with any questions.

Where: 10275 N. De Anza Blvd., Cupertino, CA
When: Feb 19th- 6:00pm-7:30pm

$38 million anyone?

There may be a time where you need to blow a cool $38 million and when that time comes, why not buy a fully restored 1914 English Tudor Estate right here in Los Altos. No biggie right? We can have high tea and go hiking in the back yard together. Don't forget to invite me~

Definitely something to keep us all motivated! Forget Britney Spears's home for sale! Check it out! http://tinyurl.com/ba6t84

Duplex, Triplex--Quick way to build your Real Estate Portfolio

Think outside the box! A smart investment strategy for those who are open to less traditional housing scenarios is purchasing a multi-unit property (ie. duplex or triplex) and living in one unit. This is great way to get a feel for being a landlord and property manager while keeping a watchful eye over your tenant(s). There are some great properties out there in places like Palo Alto, Mountain View, Sunnyvale, San Mateo and San Francisco that are a bargain right now. Pricing is similar to, or lower than single family homes. Also, rental markets are strong so your tenants can definitely help pay the mortgage. One could even enjoy a little "vacay" for being a smart investor and saving some cash over time. Better yet...buy another house!

Forget about competing against everyone looking for the single family bargain. Time to go after a buyers market that's not saturated! well...at least for now...

Downtown San Jose Tri-Plex Under $350K!! Seriously?

I just came across this 3-plex that would make a great rental. Walking distance from San Jose State University and close to shopping and restaurants and KFC--a college fave! I remember my college days living with the girls in a house just like this! I couldn't believe it when I saw the price of $340,900. Downtown San Jose is on Clearance right now!! Blue Light special on 12th street!!! All 3 units are fully occupied bringing in $3170 per month. Time for me to crunch the numbers! For more information click here! http://tinyurl.com/demf6u