Saturday, April 25, 2009

Communications Hills Townhouse Bank REO $425,000

Two bedroom, two and a half bath, modern townhouse built in 2002. 1,264 square feet, end unit model on Communications Hill. Great location. Granite upgrades, Views!, two master suites. Two car garage. Too much to list. Great value! Call me to tour 415-269-6249.

Tuesday, April 21, 2009

Loan - Purchase Perspective - It's not all about rate

From Yulin Lee of Opes Advisors, Yulin is one of my trusted advisers in the lending world:

Since January we've been seeing historically low conforming loan interest rates. It seems we've almost gotten used to having them around.

Most recently we've been seeing some incredible rates for jumbo loans. This is great news for the high cost Bay Area and it opens up new opportunities for both purchases and refinances.

It's easy to get enamored by great rates. But rates aren't the whole story. The rest of the story includes having the chance to consider the many other variables involved and to reveal opportunities and potential threats that aren't immediately apparent.

In fact, all the buzz about low rates led a client to contact me about a purchase he was considering. Rather than immediately jumping into a rate conversation, I suggested we take a broader look at what he wanted to accomplish.

Taking advantage of Opes' blended expertise of Wealth Management and Mortgage Banking; we looked further into his financial situation and discussed his financial goals. Through this planning, we assessed that increasing his down payment somewhat would enable him to get a considerably lower rate. We were also able to demonstrate that he would be receiving the equivalent of a guaranteed return of 8.25% on the additional down payment money.

Whether securing a home loan for a purchase or a refinance through Opes Advisors, we provide our clients key financial advice. And, because comprehensive financial advice is so important to meeting financial objectives, we do this at no additional charge. Here is a link to some of our client case studies.

Please contact me to discuss a specific situation or to review the potential impact of options that are being considered.

Best regards,

Monday, April 20, 2009

Union City Pre-Foreclosure Warehouse Condo for Sale

2,452 square feet warehouse condo for sale at 33371 Croation Way, Union City, CA 94587
This is a short sale with financing from a conventional bank and the SBA (Small Business Administration). Seller is facing foreclosure. Looking for an interested buyer who can make an offer subject to obtaining bank and SBA short sale approval.
Ideally located near Hwys 92 and 880.
Call to tour this great property perfect for your business.

Commercial Office Building BANK REO San Jose

New bank REO in a great location of South San Jose near Silver Creek Valley Country Club and Hwys 101 and 85. 6,093 square foot stand alone office building, well built out with 7 perimeter offices, two conference rooms and a break room. Also approximately 60% of the space is open floor plan for cubes or lab/work space. 100% drop ceiling. 8.7 per thousand parking with reciprocal parking agreements. Built in 2006 in a complex of similar office buildings, this deal is very well priced. Offered at $175 per foot for almost new product or $1,066,275. Call me to tour this great opportunity.

Tuesday, April 14, 2009

Home Buyer Workshop April 21, 2009

Intero Mortgage is hosting their monthly Home Buyer Workshop
Tuesday April 21st, 6pm - 7:30pm
10275 N De Anza Blvd, Cupertino, CA 95014

* Home Purchase Process Step by Step
* Credit Reports Revealed
* Mortgage Options Currently Available
* Jumbo Loans to 2 Million
* Conforming with 5% Down
* FHA with 3.5% Down
* Min Credit Score 620
* Title & Escrow Process
* New Tax Credits From Fed. and CA

Tony and Jason give a very informative talk on how to finance a home in this market. This is well worth the time for anyone looking to buy a home. Please email me or call to RSVP.

7 Bank REOs in Los Gatos

A total of 7 bank owned homes in Los Gatos available now. These are some very nice deals. Call me to get a run down of which would work best for you.

17450 Phillips Avenue - $2,750,000 - gorgeous estate home, gated entry, 5,725 square feet.
15433 Blossom Hill Road - $1,399,900 - 4,324 square feet
101 Via De Tesoros - $949,000 - 3,505 square feet, gorgeous pool, setting, amazing price per square foot in a great area
301 Blossom Valley Drive - $749,000 - 1,602 square feet - very nice house in Los Gatos
16449 Lucky Road - $1,919,000 - Monte Sereno address - 4,913 square feet - modern light filled home. A short drive up the hill from Hwy 9. Spectacular views.
16040 Escobar Avenue - $1,225,000 - 2,096 square feet - very pretty house on nice lot.
15075 Garden Hill Drive - $825,000 - 2,106 square feet on over 19,000 square foot lot - large fixer upper in great Los Gatos schools

Mario Pinedo, CCIM
Intero Real Estate
415-269-6249 c
408-342-3155 office

Friday, April 10, 2009

Mortgage Update April 10, 2009

The big news this week was Wells Fargo announcing that earnings a positive number for the 1st quarter of this year to the tune of 3 billion dollars. The was largely due to high mortgage origination volume and also some profit taking by the bank. The mortgage bonds improved big time this past quarter, and the lenders have dropped rates as a result. But at the same time they are taking fatter profit margins per deal because the demand for loans is so high, they can price in more profit per deal and still have more than enough business. Additionally, a major reason that earnings were higher for them this past quarter is due the change in “Mark to Market” accounting earlier this month. I think we will see a positive trend here with other banks major US Banks as a result of the change in Mark to Market accounting. The bank also went on to say that the Wachovia acquisition is exceeding expectations.

In other news, Initial Jobless Claims were reported at 654,000, still a bad number but better than expectations. The Bank of England left their benchmark interest rate steady at a record low of 0.5% today and said it will continue to buy government bonds in an attempt to keep the UK from falling into a deeper recession. This is more good news for the global financial system.

The market is closed today for Good Friday. We’ll be around this weekend. Gave a good one!

Tony Guaraldi
Mortgage Consultant

Wednesday, April 8, 2009

Santana Row Loft for RENT

FULLY FURNISHED LOFT FOR LEASE: Perfect location A-2 floorplan loft with a large master bedroom suite upstairs, including stackable washer & dryer, deep soaking tub, walk-in closet, and bonus alcove perfect for an office. Downstairs is a 2nd bedroom area with half-height walls - very nice for guest bedroom or roommate situation. Large 1/2 bath on ground floor, wonderful kitchen with granite counters - views of Santana Row - facing Taryn Rose store and above H&M - very unique additional parking downstairs - one assigned underground parking space plus AN ENCLOSED ONE CAR GARAGE IN THE UNDERGROUND PARKING GARAGE - perfect for tons of storage or to completely secure a high end vehicle. Offered at $2,450. Available June 1, 2009. Call me for an appointment 415-269-6249

Tuesday, April 7, 2009

$8,000 Tax Credit for First-Time Home Buyers in 2009

Buy this year and you can receive a tax credit up to $8,000!

A new law could put up to $8,000 in your pocket via a first-time homebuyer tax credit that does not have to be repaid.

But you must purchase a property this year to qualify.


When do I need to purchase to qualify?

If you buy a home between Jan. 1 and Dec. 1 this year and close escrow during these dates, you will qualify for a tax credit up to $8,000 - as long as it is your primary residence and you meet the simple requirements.

How does the law define "first-time homebuyer"?

The law defines "first-time homebuyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase.

What are other requirements to qualify?

All U.S. citizens who file taxes are eligible to participate. An income limit of $75,000 a year for individuals and $150,000 a year for joint filers also applies.

How do I apply for the credit?

Taxpayers should use IRS Tax Form 5450 to claim the first-time homebuyer tax credit.

Does the credit have to be repaid?

No. Unlike a similar tax credit passed in 2008, this $8,000 tax credit does not have to be repaid to the IRS.

( email blast April 7, 2009)

4plex Investments in San Jose

There are some very good deals out there. And there is also a very fluid market too. If a property hits a certain price point, there are buyers who are lining up. I just went after a fourplex in San Jose. Decent condition, large property, fully occupied were the upsides. Crowded "fourplex neighborhood", not a great unit mix were the downsides. Approximately 4,000 square feet building with a short sale asking price of $675,000. After a few days, the listing agent has 5 offers! I'm sure this deal will sell very close to what they are asking or even higher. To land a good deal out there, I suggest being fast and when need be, aggressive. These low interst rates and low prices make for some very good cashflows. Buyers this year will be very happy down the road.

Stunning Estate Bank REO in Los Gatos - Open House April 11th.

Amazing Bank owned REO estate in Los Gatos. Huge, gated property very close to downtown Los Gatos. Outstanding schools, great demographics, perfect place to call home for a long time. Countrywide Home Loans took this property back and they are pricing it very low to get it sold! I am holding the home open on Saturday, April 11th from 1:30-4:30pm. Or call me for a private tour anytime this week. You will fall in love with this house and with the opportunity. Home is at 17450 Phillips Avenue, Los Gatos, CA 95030. Offered at $2,750,000 (new price as of April 7, 2009)for 5,725 square feet on over 4 acres. See the virtual tour here.

Sunday, April 5, 2009

2 Stunning Short Sale Homes in Saratoga


Leonard was built in 2007 and never lived in! Amazing opportunity to buy a true estate home in Saratoga.

14190 Victor Place, Saratoga, $2,300,000, 5 bedrooms, 6.5 baths, 6,000+ square feet. Built in 2002. This is a wonderful home in a perfect location. The short sales were brain damage last year, now most banks are returning decisions in less than a month. Don't wait till this home becomes an REO and then there will be multiple offers.

Call me to tour - these are worth seeing.

Saturday, April 4, 2009

Open House Bank Owned REO in Monte Sereno Stunning Estate Home

This Countrywide bank REO is an amazing opportunity to buy a stunning estate home in Monte Sereno, a short distance to downtown Los Gatos and downtown Saratoga. Over 4,900 square feet on 1.69 acres, stunning valley views. 5 bedrooms, 4.5 baths, Saratoga schools, built in 1990 with walls of glass to view the valley below. Easy access to the home from Saratoga Los Gatos Road @ Greenwood. I will be showing this home on Sunday April 5th from 1:30 - 4:30. Please come and see what this downturn in housing prices has to offer you. Asking price is $1,919,000.

Come to the open house even if this may not be the perfect home for you. This is a great time to talk about the market, plan your next move, strategize and find a solution to your housing desires. I am always glad to talk face to face - although it is very un-techie!

Friday, April 3, 2009

Bank REO San Jose Great Price $124,900

828 square feet, 2 bedrooms, 1 very nicely remodeled bath, open floorplan on 2nd story of two story building. Great location in complex near main gate. Bank owned by Countrywide. Very good value in Berryessa area. Offered at $124,900. This is a steal!

San Jose Bank REO on Communications Hill

2,200 square foot end unit townhouse in wonderful Communications Hill with views. 4 bedrooms and 4 baths! Bank owned by Countrywide, offered at $594,900. This home has had many upgrades including granite counters and located across the street from a quiet park. Very wonderful home and very well priced. Call to tour today.