Housing Inventory vs. Interest Rates

We are seeing a great divergence between the cost of money for loans and the amount of homes on the market in Santa Clara County. This is a great opportunity to act now.

Open House this Sunday...Come and stop by....

Come visit this Sunday my new stunning listing in Silver Creek Valley Country Club at 5230 Birkdale Way, San Jose, CA 95138 open house from 1:30-4:30. 4 bedrooms plus an office, 3 full baths and one half bath, black bottom pool and spa, two story vaulted ceilings in the dining and living rooms, former model home, valley views, large master suite, spacious kitchen, two car garage plus offset one car garage - perfect for the prized weekend sports car, over 3,100 square feet, just painted, great flooring, etc, etc, etc. Come check it out this Sunday! $1,349,950

Open House this Saturday from 1:30pm-4:30pm

This beautifully decorated custom home has 4 bedrooms and 2 baths.
-Approx over 1,600 sqft of living space-cozy wood burning fireplace in the spacious living room and vaulted ceilings with customized skylights through out -kitchen has custom tile, stainless steel appliances with breakfast nook and breakfast bar-All bedromms have fan hook-ups-the roomy master bed has back door and large master bathroom- With so many more features to mention come and see it, I promise you will fall in love with it. P.S We also know of 53 other mobile homes in san jose for under $200,000 and 100 Condos and townhomes for under $300,000. Call Alexandria or Mario at 408-342-8694 & 408-342-3155 if you are interested in us helping you find a home....
OPEN HOUSE SATURDAY DEC, 1 FROM 1:30pm-4:30pm Come and stop by.........

See You There.....

Bay Area Commercial Real Estate Marketing Meetings

This is an updated list (as of June 2008) of commercial Realtor marketing meetings in the San Francisco Bay Area. If you know of another meeting that should be on this list, please let me know.

First Tuesday
Investment Marketing Forum (IMF)
7:30am Registration, 8:00am – 9:00am, $20 members, $25 non-members, full breakfast
Orinda Country Club, 315 Camino Sobrante, Orinda
www.imf1.com
Membership: Richard DiNottia 415-247-2470 rdinottia@landam.com
Moderator: Dave Carney 925-944-1031 dave@davecarney.com


Second Tuesday
Northern California CCIM
$60 non-members, $45 members - includes lunch
8:30-9:30 mentoring meeting, 10-1:30 Regular meeting & lunch
Location varies, typically is at the Sheraton Hotel , 5121 Hopyard Road, Pleasanton
Please verify location and RSVP before going.
Contact: Terry Shores 866-588-CCIM NCalCCIM@earthlink.net


Second Wednesday
Bay Area Apartment Brokers Forum
8:00am – 9:30am, no charge, coffee/pastries
First American Title , 1737 North First St., #100, San Jose
Apartment Investments Only
Chairman: Richard Domich 408-453-7466 rdomich@cbre.com


Second Wednesday
San Francisco Investment Forum
11:30-1pm, includes lunch; Contact Dena Cruz before attending
Embarcadero 4 in the conference room, San Francisco; Must RSVP
Contact: Dena Cruz 415-989-1300 dcruz@firstam.com


Second Thursday
Income Property Marketing Group (IPMG)
7:30am – 9:30am, $5 charge - free if presenting listing for sale
8 Presidio Terrace, San Francisco, CA 94118
Contact: Clifton Wong 415-346-2030 cliftonwong@fnf.com
Moderator: Stephen Pugh 415-345-3056 spugh@pacunion.com


Second Thursday
Commercial Broker's Forum
11:30-1:30
777 N 1st Street, San Jose, CA
Contact: Brad Wheeler 408-292-4212
wheelerb@ctt.com


Fourth Tuesday
Peninsula Investment Forum
7:45am – 9:00am, no charge for meeting, coffee/pastries
First American Title , 555 Marshall, Redwood City
Strengths: Good speakers related to the Peninsula region
Contact: Mary Kay Kennedy - mkkennedy@firstam.com

Every Other Fourth Tuesday - last one was May 2008
8:00-9:30am, no charge for the meeting, coffee/bites to eat
UCSC Extension in Cupertino on Bubb Road
Stregths: best commercial marketing meeting in the South Bay
Contact: Terry Shores 866-588-2246, ncalccim@earthlink.net

San Francisco 2 Units Mixed Use for Sale

2 units on Mission in San Francisco available for sale at a great price - $878,000. One residential flat above a commercial space. No rent control since there is only one residential unit. Due to a fire, much of the building was rebuilt in 1997. No parking although this is a great area for public transit and walking. The commercial lease only has a few months left on the lease. Strong rental market for clean commercial space such as this. Call before this hot deal sells to someone else!

Commercial Office Condo San Jose for Sale

Brand new construction commercial condo fully built out for an office user available in San Jose. Location is east of 880 between Brokaw & Montague. 1,416 square feet, 10 foot high ceilings in a new industrial - flex office condo complex. Offered at $399,000 or $281 per foot. This is a good value for an owner-user who wants to stop paying rent and start earning equity. Call for a tour this week. Larger units available too.

Silver Creek Valley Country Club Home for Sale

5230 Birkdale Drive is an outstanding value within the gates of Silver Creek Valley Country Club. 4 bedrooms plus a den, 3.5 baths, 3 car garage and over 3,100 square feet for just $1,349,000. Nothing else at this price or lower until you drop 600 square feet. Former model home that you will love to own. Call for a tour.

Santana Row Loft Condo for Sale

DeForest Building west facing condo available just above Straits Cafe and Cocolat. What better location can you ask for? This unit has - in my opinion - the best kitchen cabinets and flooring available when the units were built out. Also, situated on the quiet side of the building so you won't be up all night - unless you want to. At $579,900 - this is a very good price for this unit. Hurry before this rare, well priced unit gets snapped up. Call for a tour.

24 Duplex & Fourplex Pre Foreclosures in San Jose

Two fourplexes and 22 duplexes are on the market in San Jose in a short sale or pre foreclosure situation. With rents going up and vacancies dropping, this is a great time to invest. Let's take this opportunity to buy locally and watch equities grow over the next few years as this financial downturn stabilizes. Silicon Valley is hiring and we will lead the nation's recovery.

20 San Jose Condo Pre Foreclosures Available

If you want a good opportunity on these great condos in central San Jose, give me a call. From Ryland Park townhomes to condos in downtown San Jose, these units will be sold and at good prices. Call today for an appointment to see.

Street Address Price Beds Baths Bldg SqFt

30 RYLAND PARK WY SAN JOSE 550000 2 2 1/2 1375
218 GRAYSON TERRACE SAN JOSE 549000 4 2 1/2 1581
735 NORTHRUP ST SAN JOSE 538000 3 2 1/2 1450
2183 SONADOR CM SAN JOSE 498000 2 2 1/2 1860
1510 LIMA CT SAN JOSE 489000 2 1 900
800 N 8TH ST #00120 SAN JOSE 488800 2 2 1214
49 S 24TH ST SAN JOSE 475000 2 2 1/2 1242
1310 SADDLE RACK #343 SAN JOSE 469999 2 2 1131
1280 PREVITERA CT SAN JOSE 469000 2 2 1462
412 S BUENA VISTA AV SAN JOSE 450000 2 2 1/2 1055
167 E EMPIRE ST SAN JOSE 450000 2 1 1/2 876
414 COYOTE CREEK CI SAN JOSE 375000 2 2 849
1060 S 3RD ST #00333 SAN JOSE 345000 1 1 667
1227 COYOTE CREEK CT SAN JOSE 339000 1 1 633
1550 TECHNOLOGY DR#4092 SAN JOSE 333000 1 1 0
1060 S 3RD ST #00204 SAN JOSE 305000 1 1 667
433 COYOTE CREEK CI SAN JOSE 299950 1 1 633
25 MONTE VERANO CT SAN JOSE 289950 1 1 597
516 MARTHA ST #00205 SAN JOSE 239900 1 1 472

1031 Exchange into San Francisco Vacation Rental Condo

I just helped some clients of mine sell their Sunnyvale rental duplex and enact a 1031 tax deferred exchange into their dream location - a stunning condo in San Francisco. This will be a medium term exist strategy for them. They will initially rent out the condo for at least one year and then convert the use later to either their principle residence or to a vacation rental. With the latter strategy - which they could do right away - they would be allowed 14 days of personal use per year and the rest of the time they can rent it through a vacation rental company to tourists. Many times if you achieve only 50% occupancy with the much higher daily rates charged, the investment can be a home run. I have a similar set up in Sitges, Spain and it has been a wonderful investment with very little management from me.

CCIM - what does it stand for?

Certified Commercial Investment Member - essentially this is a Realtor designation given to those agents who have been taught how to analyze commercial and investment property. There are four one week courses - financial analysis, user decision analysis, market analysis and investment analysis. A candidate for the designation also must submit a portfolio of completed transactions with their applicable analysis work done. Finally the candidate must pass a national exam given only twice per year at the CCIM bi-annual conventions. Perhaps some 10% of all commercial agents ever achieve this designation. Those who do are assuredly experts in their trade. Whenever I look in different markets for help on transactions, I seek out other CCIM's for their deep knowledge.

San Jose Turkey Trot 10K

I did it! I ran my first 10K!!!!
This was a great event. The mayor of San Jose Chuck Reed was there as were many of the city council members such as Sam Liccardo. The mayor of Sunnyvale ran too as well. Warm up was with Santa Clara University soccer icon Brandi Chastain. This third running of the race was expected to have 4,500 participants - the number topped 6,000! All the runners entry fees benefit local San Jose area charities such as Second Harvest Food Bank.
Tell all your friends about next years race. Beating 10,000 runners would be very easy. This is a wonderful way to start your Thanksgiving morning. Now, I am off to eat turkey and find some pie!

Loopnet.com's map search feature

Wow I'm very impressed with this upgraded search feature. It allows you to designate a part of the map then sort for certain listing criteria. Then zoom in to see the listings or pass over the icons with your mouse and they pop up. Very cool when location is key. Maybe always, yes?

Conditional Use Permits

When leasing or buying a commercial building it is imperative to know what types of businesses the city will allow there. Normally there are inherently allowed uses - those uses which are under the current zoning ordinances. There are other uses that may be allowed which are outside of the standard zoning uses. These many times require what's called a conditional use permit. An example of this is if someone wants to place an indoor sports facility in a warehouse building. The building probably has inherent warehouse zoning and may allow sports use only through a conditional use permit process. This process and it's eventual approval or not is in the hands of the city council and the planning department. A timely, concise and cohesive proposal helps the city, the planners and the landlord give consent. It is also wise to hire a consultant that has worked with the city on comparable CUP processes. Be prepared for 3 to 6 months to get this CUP approved. This length of time gives rise to the question - how do you keep the landlord and the property tied up during this waiting period? That is another discussion in itself! If we don't chat till then - Happy Thanksgiving - go hug your family, friends and strangers too.

Cupertino Homes for Sale

This is the current list of Cupertino and west San Jose single family homes with outstanding Cupertino schools for sale. Let me know if you would like to view any of these excellent opportunities.

Street Address City Bedrooms Bathrooms Sq Ft Age List Price
10289 MENHART LN Cupertino 2 1 814 55 $699,888.00
18781 ARATA WAY Cupertino 3 3 1430 55 $739,900.00
10356 MENHART LN Cupertino 3 2 1050 -- $750,000.00
10376 MENHART LN Cupertino 3 2 1078 -- $788,000.00
10370 CALVERT DR Cupertino 3 2 1078 55 $799,888.00
10544 JOHNSON AVE Cupertino 4 1 1180 53 $825,000.00
1693 PROVINCETOWN DR Cupertino 5 3 0 0 $825,000.00
18690 CRABTREE AVE Cupertino 3 2 1048 53 $869,000.00
10381 JOHNSON AVE Cupertino 5 3 1965 53 $888,000.00
6264 SHADYGROVE CT Cupertino 4 2 1516 46 $899,000.00
10450 CORTE DE SEVILLE Cupertino 4 3 1684 52 $899,000.00
10876 E ESTATES DR Cupertino 3 2 1545 52 $915,000.00
1681 PROVINCETOWN DR Cupertino 4 3 0 0 $925,000.00
21685 OLIVE AVE Cupertino 3 2 1015 -- $980,000.00
21713 ALCAZAR AVE Cupertino 3 1 1150 -- $1,097,888.00
10260 ORANGE AVE Cupertino 3 1 1015 -- $1,098,000.00
559 SHADOW GL San Jose 4 3 3229 -- $1,149,888.00
18615 RALYA CT Cupertino 4 2 2070 0 $1,150,000.00
10237 PRADO VISTA AVE Cupertino 3 1 1080 54 $1,198,000.00
21988 MCCLELLAN RD Cupertino 4 2 916 -- $1,228,000.00
11518 MURANO CIR Cupertino 3 2.5 1788 -- $1,249,000.00
1153 KENTWOOD AVE Cupertino 4 2 2247 46 $1,249,998.00
21731 ALCAZAR AVE Cupertino 2 1 1020 -- $1,250,000.00
21711 ALCAZAR AVE Cupertino 4 2 1484 -- $1,250,000.00
10585 SAN LEANDRO AVE Cupertino 5 4+ 3650 0 $1,250,000.00
1672 DANROMAS WAY San Jose 4 2.5 2021 38 $1,296,000.00
18650 CRABTREE AVE Cupertino 4 2.5 2167 0 $1,375,000.00
10370 STERN AVE Cupertino 4 3.5 2101 0 $1,398,000.00
10148 PRADO VISTA AVE Cupertino 3 1 1080 54 $1,398,888.00
10352 TERRY WAY Cupertino 5 4+ 2424 30 $1,490,000.00
21871 ALCAZAR AVE Cupertino 3 2 1700 62 $1,538,888.00
10642 N PORTAL AVE Cupertino 3 2 2985 -- $1,588,000.00
10190 STERN AVE Cupertino 5 3.5 3061 8 $1,595,888.00
22438 CUPERTINO RD Cupertino 3 2.5 1810 52 $1,598,000.0
1405 GRAYWOOD DR San Jose 4 3 3346 26 $1,625,000.00
7635 ORANGE BLOSSOM DR Cupertino 4 3 2257 0 $1,626,000.00
1031 CRAIG DR San Jose 5 3.5 3022 0 $1,668,000.00
20730 DUNBAR DR Cupertino 5 4+ 3141 13 $1,680,000.00
10276 ORANGE AVE Cupertino 4 3.5 2500 0 $1,795,000.00
1060 W HILL CT Cupertino 4 3.5 4357 19 $1,798,888.00
10148 BRET AVE Cupertino 5 4+ 3700 0 $1,950,000.00
10700 MERRIMAN RD Cupertino 6+ 4+ 2765 38 $1,999,000.00
10612 FLORA VISTA AVE Cupertino 6+ 4+ 3483 -- $2,098,000.00
10280 PHAR LAP DR Cupertino 5 4+ 4000 39 $2,279,050.00
21914 LOMITA AVE Cupertino 4 4+ 752 77 $2,299,000.00
21740 RAINBOW DR Cupertino 5 4+ 5000 -- $2,500,000.00
19331 PROSPECT RD San Jose 3 3 1475 52 $2,600,000.0
22332 REGNART RD Cupertino 3 3 3928 -- $3,100,000.00

Santana Row Showing Signs of Short Sales

Wow that's a lot of "S's"
And yes, the glitzy Santana Row has the same financial issues as the rest of the valley. In fact, most of the short sales and foreclosures are in homes that sold in the last three years - precisely when all the condos sold at Santana Row. The popular A2 units with one bedroom and a den have been selling for approximately $650,000 in the last few months. Now there are at least two units for sale under $600,000. With rents going up, this may be a great opportunity to buy one and hold it. The market will come back next year, time to go bullish before everyone else does.

Short Sale But Still Making Payments?

Can you get lender cooperation if you need to sell your home via a short sale and you are still current on your loan payments? Most lenders will not capitulate to this. Why should they? If your history shows you can make the payments, they have no incentive to take less than what is owed if you decide to sell. That is the surface answer and then you can fill in the details of what may really be happening. Has there been a change in household income? Did someone lose a job? Are the payments eating through your savings and will the missed payments eventually begin? If you can paint the picture to the lender that the disaster is imminent, then they may become more cooperative. Banks are becoming far more realistic and cooperative as they learn how to deal with these situations. The main thing is to communicate with your lenders. Then together you can work out the difficult situation.

Business Brokerage

Steve Zimmerman, Intero Commercial's Business Broker, spoke today at Provizio in Sunnyvale. He is Intero's and probably the south bay's expert on business sales. He specializes in businesses that have gross sales over $300,000 and up to $2,000,000. These businesses include auto repair facilities, grocery stores, printing companies and other "main street" businesses that almost every community needs. So, if you are looking to buy yourself a business or to sell one, call Steve.

South Willow Glen 4 Bedroom Short Sale 599K

I just toured a wonderful 4 bedroom, 2 bath home just south of Wilow Glen in San Jose. This house was on a perfect street, good curb appeal, nice lot and just needed some tender loving care on the inside. For $599,000 - a price point that hasn't been broken in a long time - it is a very good opportunity. The market is soft right now and more so because it is the end of the year, best to buy now and watch the spring that will happen in the Spring!

Loan Down Payment Assistance in San Jose

I am having a client pre-approved for a loan to buy a house in the Valley. The loan program that my lender is using will give him a cash down payment to assist him to qualify for the loan more easily. This program depends on the client's income vs. the amount of people he supports in his family. In his case, the top income threshold is over $100,000! This is a fantastic program for first time home buyers and well worth asking about. For more information, drop me a line.

Thanksgiving Turkey Trot Race in San Jose

For all those who are looking for something to do while the turkey is cooking, think about the Applied Materials annual Turkey Trot 10K in downtown San Jose running through the Guadalupe River Park. It starts at 9am and is an easy run along the river walk. Look for me - I'll be next to my beautiful girlfriend huffing and puffing from the strain of the race. It benefits a great cause and we can always use the extra company. It's also good justification for the gluttony to come later in the day.

Tulare Strip Mall

We are tracking a retail strip mall in Tulare that is a solid investment offered at $3,000,000. The center is occupied by several national tenants, as well as being shadow anchored by McDonald's and Chevron. The center is just a few years old and almost fully occupied. If interested, please call right away as there will be good activity on this property.

Open House This Sunday

This gorgeous 4 bedroom, 2.5 bath home in the Evergreen foothills of San Jose is going to be open on Sunday November 10th from 1:30-4:30pm. This home was rebuilt in 1994 with custom improvements throughout. There is approximately 1,960 square feet of living space plus a large 2 car garage. It's conveniently located around the corner from Laurelwood Elementary - a blue ribbon school of distinction. This is truly a wonderful home to be enjoyed by a deserving family. Come and see for yourself. Offered at $825,000.

Dear Lee,

You called today and we talked about a condo in Saratoga.
I'd love to help, although the phone number I took down was incorrect.
Please call when you can.
- Mario

First Time Home Buyers to Reap Big Rewards

There are very few times in the history of Silicon Valley where it is a great opportunity to buy homes. This is definitely one of them. Those who will gain the most are the first time home buyers and those who are buying investment single family homes. This is because that group will not have to sell something in the valley to buy another. Move up buyers will also do very well. Have you thought about buying a local home to rent out yet? You can get a very decent 3 bedroom, 2bath in west San Jose for under $600,000. Then, rent the house out for $2,000 per month. This is a great long term asset to own.

Silver Creek Valley Country Club Open House This Sunday

Come visit this Sunday my new stunning listing in Silver Creek Valley Country Club at 5230 Birkdale Way, San Jose, CA 95138 open house from 1:30-4:30. 4 bedrooms plus an office, 3 full baths and one half bath, black bottom pool and spa, two story vaulted ceilings in the dining and living rooms, former model home, valley views, large master suite, spacious kitchen, two car garage plus offset one car garage - perfect for the prized weekend sports car, over 3,100 square feet, just painted, great flooring, etc, etc, etc. Come check it out this Sunday! $1,349,950.

Awesome Russian Hill San Francisco TIC Opportunity

My dear friend from Sperry Van Ness - Kevin Chin, CCIM - just listed an awesome three unit building in Russian Hill for 1.995M - the opportunity is that it is in a great location and it only has two residential units - the ground floor is a commercial space - therefore it can be fast tracked to condo conversion if the two residential spaces are owner occupied or vacant. More impressive is that it has parking and extra storage space. This is a perfect partner deal which can be comprised of investors or owner occupants both. Call me to tour.