Thursday, August 27, 2009

Short Sale Condo Berryessa Area Not on MLS Yet

Just listed, 2 bedroom, 2 bath short sale condo. Ground floor in modern complex. Very rare attached 2 car garage. Patio, 2 master suites, 1040 square feet, nice condition. Offered at $249,000. 2 bank owned REO condos in same complex in escrow already at similar prices. This is a deal and no huge competition like the bank owned deals. HOA just spent $800,000+ on repairs and modernisation in complex. HOA dues are approx. $480 per month. Call me for details and to write an offer on this property.

Thursday, August 13, 2009

Zillow Zestimate Values - How they are derived

Good video from explaining clearly how the Zestimate is derived. Please let me know what you agree with and what you don't.

Tuesday, August 11, 2009

Trulia Voices Question - Convert Campbell Detached Garage to Legal 2nd Unit?

Absolutely POSSIBLE - there have been many 2nd units done in the Campbell area legally. Of course, the City will require everything done according to code - while this may not sound unreasonable - the cost of making a true 2nd unit legal may cost far more than what you may want to spend. The best solution would be to check with an architect and have some plans drawn up. The architect will check with the City and see what needs to be done to make this legal. Some initial blocks that will come up that may derail the project are set back requirements of the structure. While the garage may be "grandfathered legal', any re-work to the space may trigger all new approvals and zoning compliance - 5' from side property lines, 20' from rear, etc. If you don't own the home yet, perhaps consider a duplex which was built legally as 2 units.

Trulia Question - Arbitration or Not?

Do most buyers opt for arbitration? Question arose from a buyer who has an offer in to a seller. The seller is requiring the arbitration clause signed or no deal.

Yes, in most contracts, the buyer and seller agree to arbitration. Though this may not be the best solution depending on what transaction and which party you are. By not agreeing to arbitration up front, this does not eliminate the option if a litigious situation occurs - but then both parties must opt for arbitration. By opting for arbitration, then you are forced into that situation without choice. Arbitration is effective in the most part to save money and time, but it very well may limit what you can achieve in a full blow court situation. By the way, most attorneys, who buy homes, don't opt for arbitration, obviously.

Monday, August 10, 2009

Short Sale Commercial Warehouse Condo for Sale Union City

Short Sale APPROVED on this 2,452 square foot commercial warehouse condo in a great location in Union City. Very convenient to highways 880, 92 and the Dumbarton Bridge. Offered at $399,000 - this is a great price per square foot for this building in excellent condition. Address is 33371 Croation Way, Union City, CA.

Sunday, August 9, 2009

Santana Row Area Apartment Building for Sale

10 units near Santana Row, Winchester Blvd and 280 for sale at a very attractive price.
7,050 square foot living building on a 12,000 square foot lot, fully rented, nine 1 bedroom units and one two bedroom unit. $116,000 gross rents annually offered at $1,300,000. Great 1031 exchange replacement property. Rents are strong and stable in this market segment. Excellent opportunity to buy into a good rental market. Call me to tour this property or to see the other great apartment deals available that we are tracking.

Saturday, August 8, 2009

San Jose Silicon Valley Real Estate First Time Home Buyer Seminar

Our very informative first time home buyer seminar is scheduled for Thursday August 20th from 6pm - 7:30pm at the Intero Cupertino office. Tony Guaraldi of Intero Mortgage will talk about current financing options and our manager Jess Wible will talk about buying opportunities in the REO, short sale and conventional markets. Buyers in 2009 will do very well in my opinion. Get to the class and let's start looking at your first home.

RSVP please as seating fills up every meeting.

Wednesday, August 5, 2009

*** Need a Buyer for Approved Short Sale Townhouse in San Jose ***

After 4 months waiting on a short sale approval from the bank, buyer is no longer around. Short sale is now approved and I need a buyer for this great deal by Friday, August 7th! $400,000 price for a 2 year old townhouse, 1,496 square feet, 3 bedroom, 2.5 bath, end unit, 2 car garage, HOA is only $158 per month! View the virtual tour here. Address is 3234 Lago De Como Place, San Jose, CA 95136. Call me to tour as soon as possible!

Monday, August 3, 2009

Absolute NNN California Burger King

Walmart pad ABSOLUTE NNN Burger King with 9 years left on lease. Built in 1998, this Burger King is operated by a master franchisee with 40 stores. Personally guaranteed by the franchisee. Currently $115,000 per year rent to landlord. Offered at $1,695,000. No landlord responsibilities! Perfect 1031 tax deferred exchange replacement property. Let's run the numbers on your single family rental or fourplex and see how much more you can get in income and without the headaches of management.

Sunday, August 2, 2009

Great Neighborhood Bank Owned Duplex Santa Clara

Off Bascom and Newhall - very close to Santa Clara University, Westfield Valley Fair and Santana Row is a quality duplex now owned by the bank. 1,550 square feet, 2 bedrooms and one bath on each side. Shared two car garage. Upgraded kitchens and baths, hardwood floors, vacant units. This is a very nice duplex investment in a solid neighborhood. Nice, easy investment property. Let me show you the numbers and the area. $575,000. One more short sale duplex in the area too. May take a long time, but well worth the wait.