Shopping Center Note for Sale Silicon Valley

There are some very good investments available outside of the obvious REO deals. In fact, most of the commercial REO investment properties sell at close to fair market value - some even exceed that price point. We are working closely with some banks to bring the better investments to the table. For various reasons (cash reserve issues, publicity, flooding the market, etc) banks are hesitant to foreclose on their bad commercial loans. The solution is a sale of the note/deed of trust to an investor at a discount. This then allows the investor to foreclose or deed in lieu the real property. One deal that we are reviewing is fully occupied and almost a 10 cap rate for an excellent building. We are also looking for investors to pair with these offerings.

First Time Home Buyer Workshop January 21, 2010

Our next Intero First Time Home Buyer Workshop is on Thursday, January 21, 2010 from 6:00-7:30pm. Located at Intero, 10275 N De Anza Blvd, Cupertino.

Home Purchase Process Step by Step
Pros and Cons of Bank Owned and Short Sale Properties
New Tax Credits from Federal Government
Credit Scoring Explained
Mortgage Options Currently Available
* Jumbo loans to $2,000,000
* Conforming loans with 5% down
* FHA with 3.5% down
* Min Credit Score 620
Title and Escrow
Tax Benefits of Owning a Home

Please RSVP as soon as possible - this workshop fills up.

Mario Pinedo
415-269-6249
mario@interorealestate.com

Real Estate on it's Head in Silicon Valley

For a bank owned home in Silicon Valley - buyers should offer 10% over asking and better be "all cash" in order to beat the competition.
For a "normal" sale - buyers can offer 5-10% below asking and get favorable responses.
For a short sale - buyers can offer less than 10% below asking and get sellers quite thrilled to take that offer to their short selling lender.

Now don't quote me on this - this is NOT completely factual - actually very anecdotal - yet, ask most buyers, sellers and agents in this marketplace and that is typical of what is going on.

Home Buyer Strategies 101

Most home buyers jump on the new listings that come on the market. There is a mad rush to the first open house and then a decision whether to offer on that home - typically with fear that others will do the same. For sure, those homes are worth looking at, but a better strategy tends to be looking at homes that have been on the market for a while, have had a price reduction (and if so how long ago), are vacant (typically more motivation there) or are truly overpriced. This last point needs some clarification. An overpriced home does not typically reflect a motivated seller - but there are sellers out there that will not reduce their price yet will cut a market rate deal when an offer is presented. I talk to a lot of listing agents before showing homes to a buyer to evaluate what is possible in each of these situations. Info wins!
By the way, setting up a listing alert specifically for "changes" in the listing is very beneficial - this will highlight price reductions as well as changes in the comments which may reveal a more motivated seller.