Friday, September 28, 2007

Real Estate in Spanish - Casas en Espanol

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!

Foreclosures San Jose

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.

One Rincon Hill San Francisco New Condo

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.

Laws to Live By - By Gino Blefari - CEO Intero Real Estate

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 life

Law of Posteriorities-before you start something new you must discontinue something old

Law of the Most Valuable Asset- Your most valuable asset is your earning ability

Law of Planning- Every minute spent in planning saves 10 minutes in execution

Law of Rewards- Your rewards will always be determined by your results

Law of Time Pressure- There’s never enough time to do everything but there’s always enough time to do the most important things

Wednesday, September 26, 2007

Santana Row - Capital of San Jose Real Estate

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.

Tuesday, September 25, 2007

Silicon Valley For Sale Homes Inventory Increasing

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...

Mortgage Interest Rates Up? Down? What?

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.

Friday, September 14, 2007

Silver Creek Valley Country Club Real Estate

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!

Tuesday, September 11, 2007

TIC units in San Jose?

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

Foreclosures in Silicon Valley

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.