Santa Clara Open House Listed for $789,000

On June 28th between 1:30-4:30 PM don't miss this opportunity to come check out this nicely sized 3 bedroom/2 bathroom home that sits on a 5300 sq ft lot in Santa Clara. This kitchen has great perks as you can see with granite counter tops, stainless appliances, and beautiful hardwood floors. This home has been beautifully kept with an additional building on property-art studio or workshop, or whatever you may turn it in to. If you have additional questions and would like to come to the open house, please email me to get further information mario@interorealestate.com.

Santa Clara County Inventory, Townhomes/Condo's

Date: 6-25-08, Townhomes/Condo's Active vs. Pending

Area/# of Listings/# of pendings/# Active/% Pending/#Short Sale Pendings/# Short sale Active

Morgan Hill/Gilroy/65/10/55/15%/3/25
Santa Teresa/35/10/25/29%/3/10
Evergreen/146/27/119/18%/2/31
Alum Rock/150/23/127/15%/11/69
Berryessa/166/36/130/22%/13/57
Milpitas/83/21/62/25%/6/20
Santa Clara/170/43/127/25%/7/20
Central SJ/193/28/165/15%/5/30
Willow Glen/49/9/40/18%/1/7
South San Jose/218/35/183/16%/9/104
Blossom Valley/278/60/218/22%/21/100
Almaden Valley/18/5/13/28%/0/0
Cambrian/74/13/61/18%/7/14
Campbell/133/20/113/15%/2/11
Los Gatos/54/6/48/11%/2/4
Saratoga/20/3/17/15%/0/0
Cupertino/72/22/50/31%/0/1
Sunnyvale/137/29/108/21%/5/10
Mt.View/106/32/74/30%/3/9
Los Altos/LA Hills/8/2/6/25%/0/0
Palo Alto/37/11/26/30%/0/1

Santa Clara County Inventory Report for June 25,2008

Date: 6/25/08, Single Family Homes Active vs. Pending

Area/#of listings/# of Pendings/ # Active/ % Pending/ Short Sale Pendings/Short Sale Active

Morgan Hill/Gilroy/955/161/794/17%/51/219
Santa Teresa/185/53/132/29%/20/53
Evergreen/532/108/424/20%/46/132
Alum Rock/996/185/811/19%/75/442
Berryessa/382/105/277/27%/48/97
Milpitas/208/51/157/25%/15/56
Santa Clara/283/70/213/25%/15/56
Central SJ/426/75/351/18%/27/94
Willow Glen/290/74/216/26%/9/21
South San Jose/567/134/433/24%/45/264
Blossom Valley/390/100/290/26%/37/103
Almaden Valley/148/38/110/26%/3/10
Cambrian/263/69/194/26%/9/45
Campbell/211/58/153/27%/18
Los Gatos/210/46/164/22%/1/5
Los Gatos Mtns/80/5/75/6%/0/3
Saratoga/148/28/120/19%/1/1
Cupertino/164/61/103/37%/0/1
Sunnyvale/245/86/159/35%/20/38
Mt.View/89/30/59/34%/0/3
Los Altos Hills/87/25/62/29%/1/0
Los Altos/52/10/42/19%/0/1
Palo Alto/114/47/67/41%/0/0

Active Single Family Homes/Townhomes Trends by MLS

We are now tracking the inventory trend in Santa Clara County done by MLS. The spreadsheet shows the active listings for single family homes, town homes and condos. This spreadsheet is broken up by city and months of these current active listings.Please click the spreadsheet to the left of the screen to view a larger picture.

Wonderful Sharon Park Condo Just Listed

Just on the market - 1860 square foot, 2 bedroom, 2 bath condo in prestigious Sharon Park complex in west Menlo Park. Drive through the fairways to reach your quiet, idyllic, serene home. Walk to the pool and spa. The home features a very large master bedroom suite with two walk in closets AND two additional closets. The master bath has two entrances - one for each of you. A private deck looks over the rolling hills and the golf course - at an appropriate distance of course. Large living room & dining room perfect for entertaining. Two parking spaces in the underground garage. This is a great value in the very hot Menlo Park market. Offered at $979,000. Call for a tour before it goes on the multiple listing service.

Section 1 clearances required by banks

We are starting to see lenders asking for termite reports when evaluating loans for purchases. This request has not been part of most transactions for over a decade. Lenders are even starting to require section 1 termite clearances. The lending pendulum has definitely swung hard to the conservative side. When will it swing back? Probably not for a few years. For better or for worse.
Mario Pinedo, CCIM
Intero Real Estate
415-269-6249 cell
408-342-3155 office
Sent via my BlackBerry

Peninsula Investment Forum Marketing Meeting

Mountain View Townhouse Deals

For just under $700,000, there are two townhomes in Whisman Station that are very good values this week. One home overlooking the park is a great full blown starter 3 bed home with 2 car garage and an open feel. The other unit about 150 larger is a bit more expensive and well worth the cost due to its very spacious layout. Both are worth looking at right away.
Mario Pinedo, CCIM
Intero Real Estate
415-269-6249 cell
408-342-3155 office
Sent via my BlackBerry

San Jose SaberCats Arena Football

A friend scored some tickets to last night's SaberCats game at the HP Arena. I was nonplussed - never having seen an arena football game - and also had no plans for the evening with my kids - so we accepted. I can say now I am a fan of that very interesting version of an NFL game. Huge scoring - some 18 touchdowns in the game - very fast action - great cheerleaders - The SaberKittens - great inexpensive seats and a crowd that was very into the game. It amazes me how many interesting things there are to do in this valley - some things never get experienced if you don't get forced to do them - so my recommendation - next weekend evening that you are bored with the same old stuff - go to a 'Cat's game - you'll be pleasantly surprised. BTW - this has no real estate relevance whatsoever!

Investment Offering: 4 Unit Apartment Building

We are now tracking this great investment property in Mountain View. It's a 4 unit apartment building just walking distance to convenience shopping on El Camino Real and very easy access to freeways.

Offering Highlights
Pride of Ownership. Upscale neighborhood
Original Owner. New exterior paint. Copper Plumbing
Garages. Double Pane Windows. New Roof & Driveway
Two Laundry Rooms
Unit Mix: (4) 2BR/1BA with Dishwashers & Disposals
Building Size: 3,687 SF
Site Size: 8,000SF
Cap Rate: 3.0% $366/SF with upscale potential

Schedule Annual Income & Expense

Income $67,500.00
Expenses/Vacancy Factor $25,500.00
Net Operating Income $42,000.00

Offered at $1,348,000

Please contact me at mario@interorealestate.com if you would like a tour of this property and I would be happy to set something up.

Foot Spas in Cupertino or the Changing Face of Commercial Property

Had I not traveled to China in late 2005 with the CCIM Institute to look at commercial and residential investment property, I would not have the perspective that hit me last night. After a late appointment, two of my coworkers came to my office and proposed a pho (Vietnamese noodle) run. Sure, at 9pm, that always hits the spot...well maybe for some. So, down the street on De Anza Blvd, we went. After the huge bowl of broth and unknown meat pieces, someone suggested a foot massage. None of us thought the others would massage feet as well as the professionals (two competing locations) who just opened up in Cupertino in the last year. So five minutes to closing time at 10pm, we plopped down in the massage chairs. The experience was wonderful and cheap - don't pass this along or the prices will start to go up - think gas prices. $20 + tip for an hour and the massage was head to toe. All in an open room with twenty or so other customers. Very above board and professional. Now - what does this have to do with real estate???
Foot massage is rampant in China. Huge facilities are packed with customers. Would the mom and pop strip center owner in the South Bay have expected that a foot massage place be a viable tenant - let alone a reputable one? Other new tenants that are popping up: badminton facilities in warehouses, Pinkberry (sure it's from LA - but if you don't pay attention to trends...), which is usurping Tapioca Express pearl milk tea shops, Tofu Houses (this is lost on me as to how MANY are needed although I won't argue their popularity), and yes, the pho noodle shops (some even numbered because there are so many) - can I say "melting pot" without getting too much grief?
So, the moral of the story is: things change all the time, reading and traveling will keep you ahead of the curve, there are many who could have given guidance to all these trends - and all this is about real estate my dear people - not just 9pm cravings for broth and tired feet..:-)
And finally a shout out to the next unique tenants to open at the venerable Santana Row: Kara's Cupcakes & Boutique Harajuku - the first very yummy and the 2nd - suitable clothes for my daughter - maybe...

550 Vista Ridge Home in Milpitas

Look at what $1,350,000 will get you for views and land in the low foothills of Milpitas. 550 Vista Ridge is a 10 acre parcel with approximately 3 acres of flat view land in a gated community of large estate size homes. The current home is a low slung 50s ranch home with a couple outbuildings to park cars or farm equipment. The home is livable, although not for a permanent stay. The vision with this property is to erect a majestic home to capture the lifestyle and views of the land. You will love the easy access and the well maintained community within the gates.

Bank Owned Condo in San Jose

Bank owned opportunity in Blossom Valley! Don"t wait on this one! Spacious 3 bedroom, 2 bath with 1 car garage and 1205 square feet of living space. Central AC, private patio, common area swimming pool, and much more now listed for $444,900. You don't want to pass up this great deal in this wonderful neighborhood. Contact me if you are interested in this property or something similar, and we can always find something that fits you.

Beautiful Mountain View Home for Sale

Boasting Bubb Elementary, Graham Middle School and Los Altos High School, this very new home walking distance to Castro Street is all you can ask for in this great location. 2,800 square feet, 5 bedrooms, 3.5 baths, on a 7,500 square foot lot offered at $1,588,888. Huge master bedroom, large backyard, great kitchen, etc. Call for a preview peek at this new listing.

Premier Restaurant Lease Location Castro Street Mountain View

A new, old space just came available in the heart of Castro Street for a top flight restaurant to occupy. It is a 5,250 square foot single story space 1/2 block from the train station, next to Vaso Azuro, Xanh and across from the Hong Kong Bistro. Offered at approximately $4 per foot, this location will be wonderful for any great foodie hangout. Call for more details or to arrange a tour.

Active Bank/Reo Listings in San Jose

We are now tracking bank/reo listings in Santa Clara County. Below are three different lists that include listing price, location, and sq ft of the home. If you have any additonal questions feel free to contact me, or if you are interested in looking in any of these following areas for a great deal lets talk!



$1099900 399 S 14TH ST, San Jose 2856sq ft
$1098900 3087 HIGH MEADOW LN, San Jose 2652sq ft
$799900 1358 MARIPOSA AV, San Jose 3236sq ft
$789900 1951 ENSIGN WY, San Jose 2940sq ft
$759050 1076 E WILLIAM ST, San Jose 2250sq ft
$739000 3756 EVANGELHO CI, San Jose 1820sq ft
$669500 2696 SCOTTSDALE DR, San Jose 1824sq ft
$651600 2331 SAMOA WY, San Jose 1478sq ft
$649900 1170 RANDOL AV, San Jose 1288sq ft
$628000 15836 HIGHLAND DR, San Jose 1432sq ft
$618900 956 CAPE JESSUP DR, San Jose 2124sq ft
$610000 1654 LEDERER CI, San Jose 1662sq ft
$579900 504 VERANO CT, San Jose 1792sq ft
$569900 1846 SAINT ANDREWS PL, San Jose 1480sq ft
$569900 72 CALLE DE GUADALUPE, San Jose 1152sq ft
$564900 2380 PORTAL WY, San Jose 2125sq ft
$559900 824 SENTRY PALM CT, San Jose 1406sq ft
$554900 5058 JARVIS AV, San Jose 1520sq ft
$549900 148 WOLFBERRY CT, San Jose 1581sq ft
$541900 1652 SALAMONI CT, San Jose 1880sq ft
$539900 936 FELLER Ave, San Jose 1358sq ft
$530000 440 RIDGEFARM DR, San Jose 1223sq ft
$529900 1091 PRINCESS ANNE DR, San Jose 1214sq ft
$525000 1623 SAWGRASS DR, San Jose 1786sq ft
$524900 960 BRANHAM LN, San Jose 2050sq ft
$524900 6128 BLOSSOM Ave, San Jose 1321sq ft
$522405 1526 KOOSER RD, San Jose 1185sq ft
$519900 567 BREEZYGLEN CT, San Jose 1234sq ft
$519900 5667 SILVER LEAF RD, San Jose 1474sq ft
$519900 29 CLAREVIEW AV, San Jose 1578sq ft
$518000 2186 STRATTON PL, San Jose 1234sq ft
$515000 1886 PINE HOLLOW CI, San Jose 1625sq ft
$505000 3182 ROSS AV, San Jose 1248sq ft
$502500 2949 CASTLETON DR, San Jose 1463sq ft
$500000 2803 CROSSMILL CT, San Jose 1377sq ft
$499900 1742 CHENEY DR, San Jose 1264sq ft
$499900 6117 MAREE CT, San Jose 1529sq ft
$499900 1196 GAINSVILLE AV, San Jose 1432sq ft
$499000 387 N 16TH ST, San Jose 1691sq ft
$499000 6062 STANLEY CT, San Jose 1410sq ft
$499000 1481 HILLSDALE AV, San jose
$498900 1821 S CAPITOL AV, San Jose 1353sq ft
$495900 722 SHAWNEE LN, San Jose 1228sq ft
$494500 5915 SOUTHWIND DRSan Jose1355
$490000 2967 PLUMSTEAD WY, San Jose 1538sq ft
$490000 581 OLDBROOK CT, San Jose 1220sq ft
$489900 1882 ORLANDO DR, San Jose 1352sq ft
$489900 1596 CROSS WY, San Jose 1080sq ft
$489900 3002 ARROBA WY, San Jose 1140sq ft
$489900 417 CALERO AV, San Jose 1342sq ft
$489500 415 GRIDLEY ST, San Jose 1296sq ft
$489500 1617 HERMOCILLA WY, San Jose 1786sq ft
$485000 4459 HOUNDSHAVEN WY, San Jose 1502sq ft
$484900 1518 MOUNT LASSEN DR, San Jose 1659sq ft
$484900 5799 HILLBRIGHT CI, San Jose 1409sq ft
$480000 1915 DECATUR DR, San Jose 960sq ft
$479900 1195 WINSLOW DR, San Jose 1068sq ft
$479000 408 LYONCROSS WY, San Jose 1409sq ft
$475000 666 SINGLETON RD, San Jose 1241sq ft
$474900 3275 EVCO CT, San Jose 1357sq ft
$469800 1348 PARK PLEASANT CI, San Jose 1917sq ft
$469000 518 N 15TH ST, San Jose 992sq ft
$464900 5477 GIUFFRIDA CT, San Jose 1222sq ft
$464900 2497 BRITT WY, San Jose 1278sq ft
$464900 2051 MABEL AV, San Jose 1711sq ft
$464900 4209 ARPEGGIO AV, San Jose 1305sq ft
$460000 21 KITTERY CT, San Jose 1120sq ft
$460000 2782 SCOTTSDALE DR, San Jose 1554sq ft
$459900 3273 ARAMIS DR, San Jose 1129sq ft
$459900 5287 GARRISON CI, San Jose 1207sq ft
$456000 195 MOORE DR, San Jose 1275sq ft
$455000 3139 COLDWATER DR, San Jose 1564sq ft
$454950 4112 VALLEYBROOK CT, San Jose 1220sq ft
$449900 775 MCLAUGHLIN AV, San Jose 1354sq ft
$449900 1436 TAPER CT, San Jose 1728sq ft
$449000 529 MENKER AV, San Jose 852sq ft
$440000 2702 PUCCINI AV, San Jose 1120sq ft
$439900 3664 HEATHCOT CT, San Jose 1470sq ft
$439900 255 LAUMER AV, San Jose 2020sq ft
$439900 10337 SINGLETON RD, San Jose 1417sq ft
$439900 1954 N CAPITOL AV, San Jose 1427sq ft
$439900 2964 SUNBURST DR, San Jose 1742sq ft
$439899 3569 PITCAIRN WY, San Jose 1241sq ft
$434500 3176 HAGA DR, San Jose 1672sq ft
$433500 1174 BAYARD DR, San Jose 1350sq ft
$429900 3495 MOUNT SAINT HELENA DR, San Jose 1659sq ft
$429900 3021 WATER ST, San Jose 1196sq ft
$429900 2042 CRANWORTH CI, San Jose 1152sq ft
$429000 1723 VISTA GLEN CT, San Jose 1094sq ft
$425000 3291 CURLING CT, San Jose 1179sq ft
$424900 1863 SUMATRA AV, San Jose 1306sq ft
$419900 5367 GREAT OAKS DR, San Jose 1440sq ft

$417900 773 COTTON TAIL AV, San Jose 1200sq ft
$415000 1961 ORLANDO DR, San Jose 1352sq ft
$415000 1731 PINE HOLLOW CI, San Jose 1000sq ft
$415000 2525 ARCTIC AV, San Jose 1552sq ft
$411000 2565 DUMONT CT, San Jose 1176sq ft
$409900 484 N 14TH ST, San Jose 924sq ft
$409500 2518 GALAHAD CT, San Jose 1220sq ft
$405845 1930 WAVERLY AV, San Jose 1040sq ft
$439899 3569 PITCAIRN WY, San Jose 1241sq ft
$434500 3176 HAGA DR, San Jose 1672sq ft
$433500 1174 BAYARD DR, San Jose 1350sq ft
$429900 3495 MOUNT SAINT HELENA DR, San Jose 1659sq ft
$429900 3021 WATER ST, San Jose 1196sq ft
$429900 2042 CRANWORTH CI, San Jose 1152sq ft
$429000 1723 VISTA GLEN CT, San Jose 1094sq ft
$425000 3291 CURLING CT, San Jose 1179sq ft
$424900 1863 SUMATRA AV, San Jose 1306sq ft
$405000 3507 COLUMBINE DR, San Jose 1324sq ft
$400000 3232 BLUE MOUNTAIN DR, San Jose 1198sq ft
$400000 2191 MONDIGO AV, San Jose 1320sq ft
$399900 1676 TAMPA WY, San Jose 1637sq ft
$399900 4584 RHAPSODY WY, San Jose 1137sq ft
$399900 4189 LO BUE WY, San Jose 1442sq ft
$399900 344 EZIE ST, San Jose 1113sq ft
$399000 155 DALE DR, San Jose 984sq ft
$396450 1197 ADRIAN WY, San Jose 1283sq ft
$394900 2510 DOBERN AV, San Jose 1233sq ft
$394900 5289 DISCOVERY AV, San Jose 1295sq ft
$394900 165 N 16TH ST, San Jose 1104sq ft
$391577 232 N CLAREMONT AV, San Jose 1169sq ft
$390000 1306 BAGELY WY, San Jose 1155sq ft
$390000 1263 MONTEAGLE DR, San Jose 1041sq ft
$389900 3335 MOUNT LOGAN DR, San Jose 1130sq ft
$387900 429 COYOTE RD, San Jose 1056sq ft
$385000 850 S 7TH ST, San Jose 1115sq ft
$384900 24 S 21ST ST, San Jose 1320sq ft
$384900 1788 TERILYN AV, San Jose 1306sq ft
$384900 3003 MARKINGDON AV, San Jose1188sq ft
$382000 3404 BLUE MOUNTAIN DR, San Jose1269
$380000 10290 DALE DR, San Jose 1078sq ft
$379900 1936 TAMPA WY, San Jose1701sq ft
$379900 3291 HICKERSON DR, San Jose 1129sq ft
$379900 1627 FLORIDA AV, San Jose 1121sq ft
$379791 881 MOSS DR, San Jose 1300sq ft
$369900 2080 NOTTOWAY AV, San Jose1 066sq ft
$369900 1206 SUNNY CT, San Jose 938sq ft
$369900 2090 INMAN WY, San Jose 960sq ft
$369000 425 CARPENTIER WY, San Jose 1442sq ft
$364900 1334 WOODALE CT, San Jose 1040sq ft
$364900 1601 HAVANA DR, San Jose1040
$359910 410 LOCHRIDGE DR, San Jose971
$359900 3298 MOUNT LOGAN DR, San Jose1000
$359900 2101 PALM BEACH WY, San Jose1020
$359900 10291 REVA CT, San Jose1115
$350000 2790 OPHELIA AV, San Jose1120
$349900 1491 CLIFFWOOD DR, San Jose910
$348900 1451 TERILYN AV, San Jose1178
$344900 572 JIM DR, San Jose975
$342900 4243 SANTA RITA WY, San Jose900
$341000 1757 TAMPA WY, San Jose1121
$340000 10351 ATHENE DR, San Jose1009
$340000 244 SUNNYSLOPE AV, San Jose1008
$339900 1889 SARASOTA WY, San Jose1380
$338900 1472 JUNE AV, San Jose1444
$337900 2028 HURAN DR, San Jose912
$337900 225 N CRAGMONT AV, San Jose1001
$330300 10055 TORRANCE AV, San Jose946
$329900 10265 RYAN ST, San Jose1163
$327000 2780 COVENTRY DR, San Jose960
$324900 19 KIRK AV, San Jose1625
$320000 10090 ENDFIELD WY, San Jose840
$319900 2688 OPHELIA AV, San Jose1252
$319900 1239 TURTLEROCK DR, San Jose1061
$319000 1769 EVERGLADE AV, San Jose1460
$318900 2039 MALDEN AV, San Jose853
$314910 3181 E HILLS DR, San Jose1001
$309900 132 SCHOTT ST, San Jose933
$309000 224 S 22ND ST, San Jose780
$299900 10036 KENILWORTH WY, San Jose840
$299900 1895 TERILYN AV, San Jose1040
$299900 1628 CHRISTOPHER ST, San Jose960
$299000 138 SCHOTT ST, San Jose933
$297000 125 MAGELLAN AV, San Jose993
$289900 330 GLORIA AV, San Jose1148
$289900 1531 LITTLE ORCHARD ST, San Jose864
$289900 1027 N 12TH ST, San Jose600
$285000 2180 NASSAU DR, San Jose960
$284900 14471 CHRISLAND AV, San Jose992
$249900 2989 FLORENCE AV, San Jose896
$225150 338 E JULIAN ST, San Jose1532
$180500 486 N 8TH ST, San Jose868

Active Bank/Reo listings in Morgan Hill, Gilroy and San Martin

2549 Butch Dr, Gilroy $1,504000, 6207sq ft
7108 Lahinch Dr, Gilroy $939000, 3964sq ft
15100 Seymour Ave, San Martin $899900, 1975sq ft
15930 La Escuela Ct, Morgan Hill $774900, 2605sq ft
16637 San Benito Pl, Morgan Hill $669900, 1916sq ft
16809 Cory Dr, Morgan Hill $664900, 2292sq ft
1451 Peregrine Dr, Gilroy $590000, 2439sq ft
645 San Gabriel Ave, Morgan Hill $549900, 1916sq ft
841 Lawrence Dr, Gilroy $539900, 2309sq ft
920 W 6th St, Gilroy $539900, 2097sq ft
17380 Carriage Lamp Way, Morgan Hill $535000, 1797sq ft
831 El Gato Way, Gilroy $510000, 2297sq ft
9197 Orinda Way, Gilroy $507500, 1790sq ft
553 El Invierno Dr, Gilroy $499900, 2544sq ft
910 Perrelli St, Gilroy $489900, 2851sq ft
17673 Peak Ave, Morgan Hill $488900, 1754sq ft
1605 Acacia Way, Morgan Hill $479900, 1296sq ft
385 W Dunne Ave, Morgan Hill $469900, 1504sq ft
777 Ramona Way, Gilroy $459900, 1924sq ft
9220 Calle Del Rey St, Gilroy $459000, 1606sq ft
8809 Daffodil Pl, Gilroy $450000, 1466sq ft
8731 Church St, Gilroy $446500, 1976 sq ft
740 Babbs Creek Dr, Gilroy $445410, 1845 sq ft
16750 San Luis Way, Morgan Hill $428900, 2085sq ft
305 Mantelli Dr, Gilroy $425000, 1829sq ft
9351 Hirasaki Ave, Gilroy $424900, 1564sq ft
1015 Wentz Dr, Gilroy $409900, 1525sq ft
767 Ramona Way, Gilroy $390000, 1364sq ft
7121 Rosanna St, Gilroy $3899000, 2028
7685 Wren Ave, Gilroy $389500, 1839sq ft
8080 Carmel St, Gilroy $370000, 1192sq ft
80 Wright Ave, Morgan Hill $367900, 932sq ft
428 La Sierra Way, Gilroy $350000, 980sq ft
432 Willy Ct, Gilroy $349900, 1479sq ft
17644 Crest Ave, Morgan Hill $334900, 916sq ft
7151 Rosanna St, Gilroy $329900, 1058sq ft
8330 Forest St, Gilroy $299900, 1256sq ft
7496 Chestnut St, Gilroy $299000, 1670sq ft
200 Lilly Ave, Gilroy $265000, 1123sq ft
7440 Forest St, Gilroy $250000, 1683sq ft
191 Fennel Ct, Morgan Hill $949900, 3342sq ft
11430 New Ave, Gilroy $869900, 2237sq ft
7270 Lahinch Ct, Gilroy $799900, 2819sq ft
1250 Okeefe Ct, Gilroy $635000, 2695sq ft
7571 Santa Barbara Dr, Gilroy $624900, 2938sq ft
9131 Padova Dr, Gilroy $599900, 2274sq ft
1636 Brentwood Ln, Gilroy $581900, 1948sq ft
9238 Calle Del Rey St, Gilroy $549900, 2270sq ft
17950 Del Monte Ave, Morgan Hill $529900, 1825sq ft
1130 Sage Hill Dr, Gilroy $519900, 1689sq ft
261 Ronan Ave, Gilroy $515000, 2140sq ft
776 Tennyson Dr, Gilroy $509000, 1497sq ft
70170 Harvard Pl, Gilroy $482900, 2014sq ft
7551 Rogers Ln, Gilroy $475000, 1838sq ft
895 Susan Ct, Gilroy $469900, 2042sq ft
831 WoodCreek Way, Gilroy $449900, 1504sq ft
9212 Severance St, Gilroy $441000, 1581sq ft
1615 Brentwood Ln, Gilroy $440000, 1278sq ft
14561 Crowner Ave, San Martin $419900, 1536sq ft
7790 Santa Barbara Dr, Gilroy $407500, 1540sq ft
7670 Wren Ave, Gilroy $395000, 1839sq ft
75 W 2nd St, Morgan Hill $390000, 552sq ft
8581 Delta Dr, Gilroy $381900, 1102sq ft
7575 Chestnut St, Gilroy $358150, 1196sq ft
419 Hadley Ct, Gilroy $329900, 1071sq ft
7810 Santa Barbarba Dr $329900, 2000sq ft
7430 Rogers Ln, Gilroy $285000, 1204sq ft
564 Hoover ct, Gilroy $269900, 1204sq ft
7450 Rogers Ln, Gilroy $259900, 1204sq ft

Active Bank/Reo's in Milpitas, Saratoga, Cupertino and Sunnyvale

256 S Temple Dr, Milpitas $590000, 2037sq ft
677 Vasona St, Milpitas $569000, 1512sq ft
239 Callan St, Milpitas $520000, 1802sq ft
151 Heath St, Milpitas $509900, 980sq ft
472 Easter Ave, Milpitas $495000, 1112sq ft
1668 Pinewood Way, Milpitas $459900, 1270sq ft
190 Carnegie Dr, Milpitas $439900, 1271sq ft
1433 Freeland Dr, Milpitas $384900, 912sq ft
504 Redwood Ave, Milpitas $445900, 1057sq ft
15560 On Orbit Dr, Saratoga $1,499000, 3831sq ft
10295 Wunderlich Dr, Cupertino $659900, 814sq ft
1249 Oak Creek Way, Sunnyvale $585900, 1772sq ft
910 Lakewood Dr, Sunnyvale $454900, 1108sq ft

Home Buyers Workshop

It's that time again, our Intero Mortgage team will be hosting the Home Buyers Workshop on Thursday June 19th. They will be going over different topics such as home purchase process step by step, title and escrow process, and many others. You don't want to miss out!! If you have additional questions or would like to R.S.V.P. please contact myself at mario@interorealestate.com or my assistant Krasmussen@interorealestate.com.

What to do with a zero equity home in a divorce?

Sad reality these days when a separating couple must decide how to deal with their home when it has negative equity. In better years, one spouse may buy the other out with a refinance or cash payment for their share of the equity. Now, if the home was purchased or cash-out refinanced recently and the home went down in value, the spouses are in a very different situation. With a negative equity position, one spouse may have to offer the other money to get out of the situation. The other spouse may very well not want to keep the house too. But what if both don't want the burden of the home? The solutions are difficult - bring money to the closing to pay off the lenders, attempt a short sale (low likelihood of success) or let the home slip into foreclosure - with all the negative affects associated with that. Keeping the house may or may not be possible depending on the loan that exists. Will it readjust? Will the single income earner be able to keep up with the payments? Will the exiting spouse still have liability if the loan is not kept current? Probably. Can a refinance even be possible? These are all very complicated questions - more so influenced by how well the two parties communicate now and in the future. There is a price for freedom to be sure. Any magical solutions greatly appreciated!

PENINSULA INVESTMENT FORUM MARKETING MEETING

This month, please come join Jeff Eliason, Managing Director of Highland Realty Capital. Highland Realty Capital is one of California’s leading commercial real estate finance firms, working with all property types, including office, multifamily, residential subdivisions, retail, industrial and hospitality. Jeff will provide us with an insider’s perspective on what has happened in the credit markets and why, what the ramifications to industry participants are, and how to go forward from here.

Guest Speaker: Jeffrey K. Eliason, Managing Director

Moderator: Jack Turturici
SPERRY VAN NESS TURTURICI PROPERTIES

DATE: June 24, 2008 (fourth Tuesday of each month)

LOCATION: FIRST AMERICAN TITLE
PLEASE NOTE NEW ADDRESS:
1700 South El Camino Real
San Mateo, Ca

AGENDA:
7:45 A.M. NETWORKING
8:00 INTRODUCTIONS
8:10 PROPERTY PRESENTATIONS
8:15 GUEST SPEAKER

THE PENINSULA INVESTMENT FORUM provides the opportunity to market your exclusive for sale listings to professionals in the commercial investment real estate community. Please bring 40 copies of your package for presentation. Please also email Neil Santiago with your available properties for sale at neil.santiago@bridgebank.com. Minimum purchase price of $750,000.

Sponsored by:
Janine McCaffery-First American Title (650) 569-2517
Mary Kay Kennedy-First American Exchange (800) 833-4343
Neil Santiago-Bridge Bank (650) 462-8522

US Bank Economic Forecast June 2008

As paraphrased by my best contact at US Bank, Kit Ng, Client Manager of the Northern California Business Banking Group: Keith Hembre, Chief Economist for US Bank says:

First, he does not believe that inflation will become problematic enough for the Federal Reserve to reverse direction and begin to increase its fed funds rate this year. If he is correct, interest rates in general should be relatively stable in 2008. Second, he believes that the S&P 500 Index, valued at 15.8x our 2008 earnings forecast, is now fairly valued by historical P/E standards. How we arrived at a fair valuation is a painful story, with S&P 500 index down 4.5% since May 1st (the S&P financial index down 16.7% during that period).

If you want the full 17 page June outlook, please email me for a copy.

Palo Alto Office Building For Sale 6.1% Cap Rate

This is a great opportunity to own your own office building in Palo Alto. The building is fully occupied by one tenant who then subleases about half of the property to another tenant. Great location on San Antonio within striking distance of Google, Yahoo or your favorite medical device customer. Offered at a 6.11% cap rate for Palo Alto is an outstanding return. Then when the leases expire, this could be a great re-rent or owner user building. Very impressive exterior and signage too. Call us to set up a tour or for a fully financing look at this property. Offered at $4,728,000 for 8,758 square feet on a 19,046 lot.

4 Unit Garden Style Apartment Building Listed for $1,275,000

This very unique four unit garden style apartment building consists of a two-story building totaling approximately 3,776 square feet is now on the market. All the units are spacious two-bedroom/one bath, and the current owner has maintained the interiors very well. The apartments are just walking distance from downtown Mountain View with all the dining and cultural amenities this city has to offer. There are many newly renovated and recently upgraded buildings in the neighborhood, and conveniently located in a close proximity to many of the Bay Area's largest employers including Google, Yahoo and Linked In (some of my favorites) and many other technology companies that will provide many new jobs in the immediate area and a need for housing. With it's great proximity to Castro Street and all the employers in the area, this would be a great Tenant in Common investment (TIC) or for four enterprising people to buy their own condo-like units for a fraction of the going Mountain View price. Let's talk about this when you have time to sit down. Very great way of getting into this market.

Beautiful Short Sale Home in Silver Creek Valley Country Club

This home won't be on the market long, it's the lowest priced 3 bedroom 2.5 bath in Silver Creek Country Club listed for $990,000. This is a once is a lifetime opportunity in an exclusive community that is privately gated. This home is bright with many windows, has an open floor plan, wood blinds, recessed lighting, private backyard, spacious office that can be used as a 4th bedroom, recently updated granite counter tops in kitchen and master bathroom. Please let me know if this home is of any interest to you, and if this home is out of your price range lets set up a time to chat and see what we can arrange to accommodate you. Remember this home won't last long so take the advantage now of living in the beautiful Silver Creek Valley Country Club.

Campbell Condo Bank REO $229,900

704 square foot one bedroom condo situated walking distance to the Pruneyard and downtown Campbell is now a bank owned REO at a very attractive price. Now offered at $229,900. The same unit sold for $340,000 in July 2006. Hurry before this deal goes away.

Santa Clara 8 Unit Apartment Building For Sale

Now for only $1,190,000 million you could own this beautiful 8 unit 1 bedroom 1 bath apartment complex. This well- maintained property consists of a one two-story building totaling approximately 4,312 square feet that is rentable and has a lot size of 7,800 square feet. Seven out of eight apartments have been upgraded with new appliances, new kitchen cabinets and granite counter tops along with Pergo floors. All eight units have updated bathrooms with new linoleum floors and new tub enclosures. For the convenience of the tenants, there is also an on-site laundry facility with owned machines, which is a excellent additional source of income. To take a tour or if you have additional questions, please contact me.

Stunning Apartment Complex For Sale $3,795,000

The Balboa Apartments are located in Sunnyvale, Ca within 1/2 mile from numerous shopping centers, gas stations, and about 20 miles from Stanford University which is considered one of California's most prestigious universities. The building consists of one continuous structure that is wood framed and built on perimeter foundation (wood exterior) surrounding a garden courtyard and swimming pool. This building has 18 units, (5) 2 bedroom/ 2 baths, (3) 2 bedroom/ 1 bath, and (10) 1 bedroom/ 1 baths on a lot size of 27,122 sq. ft. All units have medium size refrigerators, electric stove/oven and hood, Formica counter tops, linoleum floor coverings, all units are carpeted throughout, and the bathrooms have a tub/shower unit. The Balboa Apartments are now listed for $3,795,000 which has been recently reduced. If you are interested in taking a tour or would like more information please contact me and I would be happy to set something up.

Bay Area Apartment Brokers Forum

Group: Bay Area Apartment Brokers Forum - Established 1986 - (26 Years)
Guest Speaker: Changes Monthly
Topic: TBD
Date: 2nd Wednesday of the Month 8:00am
Place: First American Title Company, 1737 North First St., San Jose
Breakfast: Continental Breakfast - no charge - First American Title/Exchange
Chairman: Richard Domich - Broker
Vice Chairman: Keith Suddjian - Cornish & Carey
Membership: Kari Noomen - Chase
Sponsor: Mary Kay Kennedy - First American Exchange
Sponsor: First American Exchange

Note: All present will have an opportunity to present their listings, buyer requirements, as well as their analysis of current events and market trends that directly effect the multi-housing (apartment) industry in Silicon Valley and greater Bay Area.
Adjournment: 9:30 AM

Past speakers & topics:

July 9, 2008 Kirby Sack - (topic to be determined)
Aug. 13, 2008 John Klimp - The Multi-Housing Due Diligence Process
Sept. 10, 2008 Puneet Singh - Nuisance Tenants 2008
Oct. 8, 2008 Ken Orvick - Apartment Management - Issues 2008

OPEN HOUSE IN SILVER CREEK

On Sunday June 8, 2008 I will be holding an open house between 1:30-4:00 for this beautiful home in Silver Creek. Remarkable home nestled in the hills of Silver Creek Country Club, 4 bedrooms 3.5 baths, maple floors, granite counters, huge master suite with marble bath, large living and dining rooms, chefs kitchen and separate family room with fireplace. This home is also in a gated court yard with fountain, gorgeous landscaping, and flagstone patios. The current listing price is $1,198,000, so don't miss out and come to the open house that I will be holding. Please contact me if you have any questions regarding this home or even if this home is out of your price range we can definitely sit down and see what works best for you.



When: Sunday June 8,2008

Where: 5892 Pistoia Way, San Jose

Time: 1:30-4:00

Active Single Family Homes/ Townhomes & Condo's

This is Santa Clara county's current inventory trend broken down by areas and cities. Click on the image to enlarge it for better viewing.

Small Business Administration Loans SBA

The Small Business Administration guaranteed loan programs are a great way for businesses to purchase real estate that they need. The most attractive aspect of the SBA is the low 10% down payment required. Also, the SBA loans are tied to the prime rate which right now is approaching historical lows. Banks are very willing to lend on SBA loans because their risk exposure is far less due to the guarantee provided by the SBA. Let me know if you want a great recommendation to an SBA loan agent.

Short Sale, Reo/ Bank Owned Duplex Deals in Santa Clara County

We are tracking four duplex properties located in the valley with exceptionally great values that are short sales, reo/bank owned or just motivated normal sellers. These homes are all located in very nice neighborhoods, and is also a great investment opportunity you don't want to miss. This property above is located in San Jose/Campbell area which is a high rent demand area. There is a nearby elementary school and just minutes away from Santana Row and Valley Fair Mall. Very cozy place to live, one unit has 3 bedrooms, 2 baths, tile floors and carpet in bedrooms. The other side has 2 bedrooms, 1.5 baths, hardwood floors throughout and both sides have indoor laundry, garage and own backyard.

Bright and clean and lots of upgrades that you will love, with a great location close to Baker Elementary. First unit is 3 bedrooms, with 2 bathrooms, and the other is a 2 bedroom 1 bathroom unit. Each unit has it's own laundry hook up, shared three car garage and covered car ports. This duplex is a short sale and listed for $749,000.
Located in a wonderful area near the University of Santa Clara, Valley Fair Mall and Santana Row is a duplex listed for $695,000. These are 2 bedrooms and 1 bathroom units with single car garages.

Finally we have one more duplex listed for $739,000, located in San Jose/Campbell area which has been remodeled just over a year ago. The units are in very good condition, first unit is a 3 bedroom 2 bath, and the other unit is 2 bedroom 2 bath. This is a short sale opportunity, so if you are looking for a great deal, in a great location, this is the one. If you have additional questions or would like more information or a tour please let me know, and I will be happy to help.

Evergreen Bank Owned Home

We are now tracking a bank owned REO home in the Evergreen area of San Jose, listed for $669,500. This is a great home and in a nice neighborhood, 4 bedrooms, 2 baths, separate family room with fireplace, living room/dining room combo, possible RV access, and also a storage shed. This lot is about 7,840 sq ft in size and 1824 sq ft home. It is priced to sell quickly, if you have additional questions or would like a tour please contact me and I would be happy to help.

Stunning Bel Aire Luxury Estate in Silver Creek Valley

This home has it all..Views Views Views, beautiful grand formal entry way, 5 bedrooms, 4.5 baths, huge lot .60 acre, landscaped beautifully with park like setting, custom BBQ area under gazebo and deck with amazing views of the city and located near Smith Elementary, Chaboya Middle School, and Silver Creek High. This home is listed for $1,665,000, so come take a tour and check out the awesome views of this home.