Great Investment Opportunity

Very solid rental investment property at the gateway of booming downtown San Jose. This well-located apartment building has been very well kept as well as upgraded over the last years. All units have newer central HVAC systems, double pane windows, new doors and other upgrades. There is good parking for the building both in the front and back. Fully occupied investment property - come look!
Great condition apartment building. Your buyers will be pleased. Building has underwent the airport upgrades and is now in excellent shape. Not your typical downtown building.

Please contact Mario Pinedo for any information
Bus:408-342-3155
mario@interorealestate.com

Best Deal in Silver Creek Country Club

GORGEOUS PROPERTY!!! EXCELLENT CONDITION!!! BEST DEAL IN SILVER CREEK COUNTRY CLUB!! VIEW OF MOUNTAINS!! BRITE & OPEN FLOOR PLAN WITH HIGH CEILINGS* LOTS OF WINDOWS!!* GRANITE KITCHEN COUNTERTOPS* NEWLY REFINISHED KITCHEN CABINETS* TILE ISLAND* UPGRADED CARPET* DOWNSTAIRS GUEST SUITE* STUNNING OFFICE WITH CUSTOM BUILT-IN CHERRY WOOD CABINETRY* ATTAHCED 3 CAR GARAGE* ENJOY POOL & JACUZZI*

Please call Mario Pinedo, CCIM Intero Real Estate Services
for any information on this property
Bus:408-342-3155
mario@interorealestate.com

Bank Owned REO Condo in Mountain View

I just toured this very nice 2 bedroom, 1 bath condo in Mountain View at $349,900 for 894 square feet that was a very good deal. It was a short sale for months and is now wholly owned by the bank and finally deliverable without all the headaches of a short sale. Near Castro Street and off of Middlefield and HWY 85. Call me to tour asap!

New loan guidelines and higher limits

Yulin Lee of Opes Advisors - she is my go-to lender - submitted this press release on the new loan limits by Fannie Mae:

Fannie Mae Implements Jumbo-Conforming Mortgages
As of this morning, Fannie Mae announced that it will increase its conventional loan limits to a maximum of $729,750 for single family homes. This increase is a temporary one, and is good through the end of 2008.

This new "breed" of loans between $417K - $729,750 are being called Jumbo-Conforming loans, and Fannie Mae has published details on borrower and product eligibility, underwriting, pricing, and delivery of these loans for certain high-cost areas.

Here's a quote from Fannie Mae:
"To help provide liquidity to this market segment, we will accept whole loans and MBS deliveries of Jumbo-Conforming Mortgages starting April 1, 2008 for 15- and 30-year FRMs, and starting May 1, 2008 for 5/1 ARMs. A 5/1 ARM with a 10-year interest-only period will be available in addition to fully amortizing options."

Ten Bay Area counties will have their limits raised to the new maximum loan limit of $729,750 for all three types of loans (FHA, Fannie Mae, Freddie Mac). Those 10 counties include: Alameda, Contra Costa, Marin, San Francisco, San Mateo, San Benito, Santa Clara, Santa Cruz, Napa and Monterey.

What we still don't know is when the lenders will start rolling out programs with the new loan limits and pricing. We expect it to be in the next couple of weeks. If you are interested in learning more about the details and how this change might impact you, feel free to give me a call.


Below are some useful links for more info:

http://www.ofheo.gov/newsroom.aspx?ID=418&q1=1&q2=None
https://entp.hud.gov/idapp/html/hicost1.cfm

Change Is In the Air

In an effort to continue serving my clients with the best products and services available, I have recently changed company. I am excited to tell you that I am now with Opes Advisors in Palo Alto. In my capacity as your Mortgage Advisor, I will continue to support you and serve you with all your Mortgage Planning & real estate investment needs.

To learn more about Opes Advisors, please check us out at www.opesadvisors.com.



Yulin S. Lee, MBA, CMPS
Mortgage Advisor
Building Wealth, One Piece At A Time!

Phone: 650-799-8768
www.yulinlee.com
www.yulin-lee.blogspot.com