Great Santa Clara Duplex Investment

In the midst of a slower residential market, the multi-unit investment properties are actually boding quite well. We are tracking a quaint, well-maintained Santa Clara Duplex that is currently occupied by the owners and priced at $828,000. This is the perfect owner occupied investment opportunity where you can live in one and rent the other, or just rent both. A great way to become a homeowner and an investor at the same time. Give us a call for more information on this property!

Afraid of a short sale?

In this volatile market with many sellers trying to find a way out of their homes because they can't afford to pay the mortgage, many sellers are selling short? What does that mean? In a nutshell, when a seller sells short, their lender is allowing them to sell the home for less than what is owed primarily due to the fact that they can no longer afford to pay. For more information go to http://homebuying.about.com/od/4closureshortsales/a/shortsalebasics.htm

When I tell my buyers that a property is being sold as a short sale, they sometimes shy away and get nervous because it's a new phenomenom that's here to stay (at least for a while), but I'm here to tell you that it is to your advantage as a buyer if you are flexible in your time frame. You can get a killer deal and a great price! Even here in Silicon Valley!! Just expect to have some long waiting periods for bank responses as they are back, back, backed up right now! I imagine stacks of files up to the ceiling!!

Buyers, interests rates just improved today so if you're looking for a good buy and you have the time to deal with the banks call 408-396-0770 for short sale properties and bank owned properties.

FOR SALE! Great 3 bedroom 2.5 bath home in prime Milpitas!

Great Milpitas attached single family home in a great location! Only 650,000! Don't miss the open house this weekend on 5/10 & 5/11 from 130pm to 430pm. Move right in! This is a great buy! Call 408-396-0770 for more info! More pics at www.tourfactory.com/420119

April Sales are up...but prices are down

The numbers are in and April transactions were up from last month in Santa Clara county but the median prices continues to fall. The number of sales for single family homes rose 10.3% from last month and condos rose 12% ,but the median prices are down 4.5% and 5.2%, respectively and inventory continues to rise.

For a full report go to http://rereport.com/scc/print/ChristineKimSCC.pdf or call me at 408-396-0770 for more info on your specific neighborhood.

Whats the Trouble~

This is a great little clip poking fun at the housing bubble. If you don't know what's going on lately, this pretty much sums it up in a quirky fun way. enjoy...you might even be humming it in the shower tomorrow morning.
http://www.youtube.com/watch?v=Ivp4YqGCI-s

Economic Stimulus plan and what it means to the South Bay

An informational note on the 2008 Economic Stimulus plan:

The Economic Stimulus plan, as a lot of you may know, was signed through on Feb 13th, 2008 and establishes a temporary increases to Fannie and Freddy's conventional loan limits for first lien mortgage loans in high cost areas, as defined by the US Department of Housing or better known as HUD.

For us folks in the south bay, are loan limit is the full $729,750 so it's time to save yourself some money if you are in the market. Remember that this loan limit is only good through 2008, which means your loan must fund and close in 2008. Fannie Mae finally announced last week that they will start purchasing loans with this new limit starting April 1st, 2008, so be sure to give your lender a call to run some new numbers if you fall within that loan amount. If you don't have a great lender I highly recommend Adeline Johnson from Century Oak Mortgage. She is a great resource for you to have on your side! Happy buying!

Verona at Sunnyvale-Toll Brothers

Just visited a bunch of new home developments yesterday in Sunnyvale off of 101 and Fair Oaks off of Tasman Drive and I was most impressed with Toll Brothers Verona in Sunnyvale on 400 Tasman. Their floor plans had the best use of square footage in the most functional way. There were a bunch of different floor plans and their pricing starts from the low 600K. It's nicely tucked into the community so it's very quiet. I think its the best bang for your buck.

The downside to this community is that it's in a mixed zoning area so you have office parks and a mobile home park as your view depending on your location....but you are also very close to 101 & 237 without having to deal with the humming of the highways. It becomes all about personal preference when it comes down to it. You also may have to wait until 2009 to move in as they are 10-12 months out depending on the location that you buy in. Not good news for those of you trying to take advantage of the stimulus package.

They have already started selling so don't forget to take your Realtor with you on your first visit or they won't be able to help you. It's especially important to get some representation on your end as most new developer purchase contracts are not favorable to buyers so you may need your realtor to advise you on your negotiations. For more information about some of the other developments feel free to contact me. I've seen ALOT!