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.

Great opportunity Bank -Owned 4-plex

With lots of potential this 4plex has 2bed/1bath units approx 800sqft per unit with separate laundry room for added income source.
Call me if you are interested in taking advantage of this income producing opportunity.

Trading Up or Downsizing - Strategies

I was having a conversation with a buyer today who owned a condo and wanted to trade up to a larger house. The difficulty was she needed to sell her condo first to buy the new home. Then of course she would have a very short window to buy a new home. This probably reduces her chances of finding a good deal or the perfect home. What's the solution? She can refinance out the downpayment of her condo, buy the new home and then sell the condo. She can also rent the condo after buying the house. Finally, she can buy the house as a rental for a while and then move into the house in a few years when her income will better support it. There are always good solutions if you do some brainstorming.

Fourplex San Jose for Sale

We are tracking a fourplex in San Jose that is a good value. It is offered at $695,000 for two 2 bedroom units and two 1 bedroom units with $52,000 in annual rental income. Total loans on the property are over $800,000 so obviously this is a short sale. The neighborhood is a bit rough and will require an experienced owner or a good property management company. If interested, give me a call right away.