Open House Saturday Feb 16th and Sunday Feb. 17th

This beautifully remodeled 3 bedroom 2 bath home located at 2098 Arrowood Lane San Jose,CA 95130 in west san jose in the campbell area is open this weekend both saturday and sunday from 1:30pm to 4:30pm. Come and stop by bring your agent and agents bring your clients... You will love it

First Time Home Buyer Class Feb 21, 2008

Tony Guaraldi of Intero Mortgage is hosting a very informative first time home buyer class to talk about the great lending programs available. He will talk specifically about the CalHFA program which allows excellent financing terms for first time home buyers. Tony is wonderfully qualified on this subject and can get you understanding how much you can afford with the assistance of this program.

* California State 1st Time Buyer Program
- 103% Financing to $693,000 Purchase Price
- All Fixed Interest Rates
- Down Payment & Closing Cost Assistance
- City & Non-Profit Assistance Programs
- Credit Scores Down to 620 with Zero Down
* Credit Reports and How They Score You
* Role of the Realtor
* Title and Escrow Process
* Tax Benefits of Home Ownership

Please RSVP at mario@interorealestate.com

10275 N De Anza Blvd
Cupertino, CA 95014
6:30-7:45pm
Thursday, Feb. 21st

TIC investments

The National Association of Realtors is working on a new regulation to allow CCIM Realtors to sell TIC investments. The reason behind this effort is to have competent commercial investment Realtors represent securities products that are essentially real estate investments. Right now the current representatives are stock brokers and securities dealers - people who are inherently not real estate experts. I think this a good move to bring expert guidance to this booming industry.

Mario Pinedo, CCIM

Intero Real Estate

415-269-6249 cell

408-342-3155 office

Sent via my BlackBerry

Short sale condo deal in Mountain View

We are tracking a very well priced 2 bedroom 1 bath top floor condo in Mt View for $360,000. It is a pre-forclosure short sale that will make someone a great buy. Let us show you what you can get in pricey Mt View for... ahem... next to nothing...
Mario Pinedo, CCIM
Intero Real Estate
415-269-6249 cell
408-342-3155 office
Sent via my BlackBerry

2098 Arrowood Lane, San Jose Open House This Weekend

2098 Arrowood Lane will be held open Saturday and Sunday from 1:30 - 4:30. This wonderfully remodeled home in west San Jose is offered at a very reasonable $815,000. A huge master suite with two closets and a wonderful new bathroom. Two other bedrooms and a new hall bath. There is a large open kitchen with all new appliances. Spacious area for a dining table adjacent to the living room. Large lot over 6,900 square feet. All this walking distance to Baker Elementary. Come and be impressed.

Short Sale Townhouse in Milpitas $319,000

We just listed a wonderful 2 bedroom, 1 bath, two story townhouse in Milpitas off Calaveras and Abel. This unit has a one car garage, a fenced patio, access to the community pool and is very welll located. It is not on the MLS yet. Give me a call for a preview.

Silver Creek Valley Country Club Open House Feb 9th

Please come see this wonderful home within the gates of Silver Creek Valley Country Club this Saturday from 1:30-4:30. 4 large bedrooms plus a wonderful office, 3.5 baths, 3 car garage, black bottom pool and spa, views of the valley, quiet street - everything you could ask for - offered at $1,349,950. Address is 5230 Birkdale Way, San Jose, CA 95138. With interest rates this low - the lowest in 3 years - this is a great time to buy your new home in the valley.

Team in Training San Diego Marathon Run for a Cure

My goal for the first half of this year is to raise $5,000 through Team in Training for cancer cure research. Please visit my webpage and make an important donation to this cause.
I ran my first real race on Thanksgiving morning in San Jose - the Turkey Trot 10K. After that, I knew I wanted to accomplish more. This coming from a kid who in high school could not finish one mile during football tryouts - no - I didn't make the team!
I also just turned the ripe old age of 40 two days ago. I was surrounded by some of my best friends and the love of my life. I cannot ask for more love and happiness. What I can do though, is give something back to those who are not so fortunate. This may be with a grueling 4 hour run in San Diego and it very well may be with some other challenge to myself in the future. It is also done with the support of my friends, coworkers, clients, family and sometimes an annonymous but wonderful donor.
Please do what you can and help me help the researchers and caregivers to find a cure.
Thanks,
- Mario

Open House 2098 Arrowood Lane, San Jose, CA

Come to this wonderfully remodeled home walking distance to the impressive Baker Elementary in west San Jose. New price at a very attractive $815,000. Huge master suite with office addition and two other bedrooms. Almost everything was recently upgraded to virtually new condition. All appliances in the kitchen are new plus new washer & dryer in the garage. Harwood floors throughout, new bathrooms, new lighting and paint. Also, all new landscaping in the front and back. Open today and tomorrow from 1:30-4:30.

1031 Exchange Identification Rules 101

3 property rule - identify 3 properties and then close escrow on one, two or three of them. This is the most commonly used rule.
200% rule - identify up to an aggregate of 200% of the value of the relinquished property. You then must close escrow on one or more of them. No limit to the number of properties identified as long as they total in value no more than 200% of the relinquished value. Common when going in to a lower priced area or coming from a high priced single property.
95% rule - unlimited number to be identified and you must close escrow on 95% of the properties that are identified. Common when buying a block of condos with separate parcel numbers which are run as an apartment building.
If you want any guidance on how to use these rules or how to navigate the dates of the 1031 exchange process, give me a call or drop me a line. I think I've seen it all!

Santa Clara County (REO) Bank Properties Available

This is our updated list of bank owned REO homes available in Santa Clara County:

Address, City, bedrooms/baths, square feet & asking price:

KNIGHTSBRIDGE LN, SANTA CLARA 3/2;1369 $515,900
QUICKERT RD, SARATOGA 6/5.5;4707 $2,175,000
ALDRICH WAY, SAN JOSE 3/2;1220 $513,900
BERRYWOOD DR, SAN JOSE 3/1;900 $439,900
CHAPEL HILL WAY, SAN JOSE 5/2;1593 $477,500
CHULA VISTA DR, SAN JOSE 2/1;1168 $574,900
CURTNER AVE, SAN JOSE 3/1.5;1635 $564,900
EASTON PL #42, SAN JOSE 2/2;975 $269,900
FLEDERMAUS, SAN JOSE 3/1;1176 $319,900
FLORENCE AVE, SAN JOSE 2/1;896 $419,900
FOOTHILL CT, SAN JOSE 4/2.5;2124 $649,900
JUDITH ST, UNIT #3, SAN JOSE 2/1;903 $249,900
LANIER LN, SAN JOSE 3/2;4791 $499,900
LANTERN WAY, SAN JOSE 3/2;1152 $459,900
N 14TH ST, SAN JOSE 2/1;1064 $399,000
ORLEANS DR, SAN JOSE 4/2.2;1352 $539,900
PEBBLE CT, SAN JOSE 2/2;1045 $369,900
S. 12TH ST #109, SAN JOSE 2/2;1130 $384,500
S. 20TH ST, SAN JOSE 3/2;1247 $500,900
SPIRO DR, SAN JOSE 2/1;938 $400,000
SUTTER ST, SAN JOSE 2/1;928 $369,900
TERILYN AVE, SAN JOSE 3/1;960 $374,900
TERILYN AVE, SAN JOSE 3/2;1178 $399,900
WARRING DRIVE #3, SAN JOSE 2/1;903 $284,000

Give us a call to see any of these great opportunities.

Zillow and Intero Real Estate

Only certain companies are posting all their listings on mega sites such as Zillow and Trulia. Intero has a bulk feed into both these sites. Alain Pinel and Coldwell Banker do not. How can you pass up approximately 7 million unique real estate visitors every month combined???
Mario Pinedo, CCIM
Intero Real Estate
415-269-6249 cell
408-342-3155 office
Sent via my BlackBerry

Jumbo loans under 5%

There is a very aggressive lender offering jumbo rate home loans with 1 point under 5%! The jumbo rates which had a spread of over 200 basis points over conforming rates in the last 6 months are now falling in line with their smaller amount brethren loans. This is attributed to the secondary market coming back to life. This is a very good sign.
Mario Pinedo, CCIM
Intero Real Estate
415-269-6249 cell
408-342-3155 office
Sent via my BlackBerry

Palo Alto Homes No Foreclosures Here

Silicon Valley companies are doing very well as is evident in premier communities like Palo Alto. Here's an interesting scenario for both the home buyer and the investor. A coworker just bought a home in midtown for $1,425,000 - not huge at all - 3 bedrooms, 1 bath and maybe 1,300 square feet on a normal lot. One day's rental listing on Craigslist.com generated 4 applicants all willing to pay her $4,800 asking rent! Does this make "investment sense"? Not if you consider cash flow as the only aspect of return on investment. Investment return also involves appreciation, debt reduction, tax benefits, depreciation deductions and holding period. Will my coworker make money on this deal - in my opinion - absolutely yes - does it take guts and risk - yes also - but markets like Palo Alto will forever be in demand - so the risk is quite mitigated.

The 88sj.com or just THE 88

Kudos to the marketing team behind The 88 condo building in San Jose. The ad in the San Jose Business Journal is brilliant.
"A 22 story Declaration of Independence. I want my city without the white picket fence. Without three-car garages, trips to the hardware store, to big-box chains, and every trip to anywhere that looks exactly like where I just came from. You can take your rakes, mowers, blowers and your leaf-packed gutters and keep them far away from me. And while you're at it, keep the minivan, the outskirts, and your keeping up with the Joneses, and keep it all to yourself. Just leave me to my own devices, leave me the skyline, spontaneity, and a lust for life, and all its experiences. Leave me a home above, the city below. And leave me THE 88."
Very cool way to market a building.

"Bank Owned REO's in Santa Clara County"

Property Listing Price
2590 KNIGHTSBRIDGE LN, SANTA CLARA 3/2;1369 $515,900
15545 QUICKERT RD, SARATOGA 6/5.5;4707 $2,175,000
1555 ALDRICH WAY, SAN JOSE 3/2;1220 $513,900
11300 CHULA VISTA DR, SAN JOSE 2/1;1168 $574,900
1076 CURTNER AVE, SAN JOSE 3/1.5;1635 $564,900
2503 EASTON PL #42, SAN JOSE 2/2;975 $269,900
1532 FLEDERMAUS, SAN JOSE 3/1;1176 $319,900
2989 FLORENCE AVE, SAN JOSE 2/1;896 $419,900
856 FOOTHILL CT, SAN JOSE 4/2.5;2124 $649,900
4970 GAZANIA DR, SAN JOSE 3/2;1384 $469,900
5598 JUDITH ST, UNIT #3, SAN JOSE 2/1;903 $249,900
2640 LANIER LN, SAN JOSE 3/2;4791 $499,900
3266 LANTERN WAY, SAN JOSE 3/2;1152 $459,900
53 MILLAR AVE, SAN JOSE 2/1;1000 $489,900
699 N 14TH ST, SAN JOSE 2/1;1064 $399,000
1627 ORLEANS DR, SAN JOSE 4/2.2;1352 $539,900
1312 PEBBLE CT, SAN JOSE 2/2;1045 $369,900
951 S.12TH ST #109, SAN JOSE 2/2;1130 $384,500
20 S.20TH ST, SAN JOSE 3/2;1247 $519,900
1159 SPIRO DR, SAN JOSE 2/1;938 $400,000
127 SUTTER ST, SAN JOSE 2/1;928 $369,900
1528 TERILYN AVE, SAN JOSE 3/1;960 $374,900
1451 TERILYN AVE, SAN JOSE 3/2;1178 $399,900
792 WARRING DRIVE #3, SAN JOSE 2/1;903 $289,900

6-Unit Investment Apartment Complex

Income
Gross Rents $62,580
Other Income $1,200
Gross Sched. Income $63,780
(Vacancy) $1,877
Net Gross Income $61,903
(Expenses) $16,647
Net Operating Income $45,256

Investment Analysis
Purchase Price $895,000
Down Payment $358,000
Loan Amount $537,000
Interest Rate 6.50%
DCR 1.15
Cash on Cash 1.55%


Expense Details
Property Taxes $11,367
Insurance $2,394
Management $4,067
Gas & Electric $1,864
Water & Sewer $1,472
Maintenance $4,466
Garbage $698
Miscellaneous $1,686


Financials
GRM 14.0
Cap Rate 5.1%
Price per Unit $149,166
Price per Square Foot $248
Square Feet 3,604
Lot Size 5,662
Age 48
Zoning R3

Newer HVAC systems
Fully Occupied Units
Professionally Managed
Very well maintained
Excellent 1031 Property


Rents Increasing
Vacancy Rates Down
Silicon Valley Job Growth
Attractive Finance Rates
Solid San Jose Asset


If you need any additional information call or email me...

Duplexes, Fourplexes in Cupertino Schools

Buying in Cupertino is not cheap by any means. One solution to entry into the market is buying a duplex, triplex or fourplex and living in one unit. Many of these properties where built with "owner-occupant" quality units. An example is some of the Pollock & Gambord style fourplexes that have a very distinct owner's unit in the front. These units typically had upgrades over the other units such as forced air heating, fireplaces, garages, dishwashers and more.
There are two duplexes and two triplexes that we like in the Cupertino schools area.
$799,000 for a duplex at 2884 Malabar, Santa Clara, CA with Cupertino schools.
90 Kiely Blvd, a triplex for $869,888
Lapa Drive, duplex, for $829,000
and
Craft Drive, $1,298,000, a triplex across the street from Cupertino High School.
If you want us to run the numbers for you on how to make this work, just drop us a line. These are very nice properties and great way to buy Cupertino schools.

Very low price point for a NNN investment in the Greater Bay Area

This offering consists of an office building, two service bays and a parking area for the La Mesa RV Center, a regional chain of RV dealerships. Founded in 1972, La Mesa RV Center, Inc. has grown from it's original La Mesa, CA site to nine locations in California, Nevada, Arizona, Florida and Georgia. La mesa RV is a full service dealership,offering sales, financing, service and repairs.

This is a strong tenant in a booming market. Well worth a look.

Cap Rate: 6.25%
Lease space included: 1,309 sf office, Service Bays, 110 Parking Spaces
Land included: 1.15 acres
$81,000 of net operating income to the new buyer.
Offered at $1,296,000

Call to tour this great investment.

100% leased high growth center in booming Roseville

New NNN Retail Shopping Center in High-Growth Market of Roseville, CA
Excellent Location Near Housing and Businesses
Average In-Place Rents Below Market Asking Rates
Annual Rental Increases and 100% CAM Reimbursements in All Leases
To Be Delivered Free and Clear of Debt

This offering includes a 100% leased four-tenant retail building within Arbor View Village, located at the southeast corner of Pleasant Grove Blvd and Foothills Blvd in the upscale market of Roseville. The average rents at the offering are just over $2.65/sf, putting it at or below market for West Roseville creating stability and income. Arbor View Village is located in a market with growing rents,a growing population and a steady demand for retail space.

This is a true 6.5 Cap Rate deal with the ability for new financing. Excellent 1031 exchange property. Offered at $3,150,000. Call us for a marketing package.