How should you finance a home?

Is it always, "give me the best rate?" or "the best payment?" Many of us have learned that painful lesson over the last couple years. Negative amortization is not the only loan to be wary of. The assumption is that your home will be the biggest investment of your life. If you know my point of view, I hope it is your first big investment of your life and you have the foresight to have many other true real estate investments in your portfolio. And what about how to buy that investment or really how to finance that investment? A $500,000 house purchase seems like a large investment, especially when you call it "half a million dollars". Although really, you are buying your 10% or 20% down payment part, the other $400,000 or $450,000 is being financed. That is where you should pay much attention. My great lender friend and financial consultant, Yulin Lee at Opes Advisors can guide you in choosing a loan based on your overall financial picture. Again - not just "best rate" or "best payment" - more so - "what loan best fits what I want my overall financial picture to look like. The stud lenders of today will take a comprehensive look at your financial picture before suggesting a loan to you. That's the type of lender you want in your corner.

Active Single Family Home/Townhomes & Condo's

Please click on the above attached spreadsheet to view larger spreadsheet. This spreadsheet includes information such as; active single family home, town homes and condos in the Silicon Valley. If you have any questions please contact krasmussen@interorealestate.com.

Single Tenant Retail Fresno, Ca

For Sale

California Single-Tenant

Net Leased Property

Fresno, Ca

Brand new corporate leased AT&T wireless store

-High traffic retail location

-Free standing building on hard corner

-Brand new 2008 construction

Listing price: $2,300,000- 6.27 CAP RATE

Building: 3,696 +/- square feet

Lot: 0.44 +/- square feet

Zoning: CM (Commercial manufacturing)

For more information please contact me mario@interorealestate.com

Great Bank Owned Single Family Home in Campbell

Excellent bank owned home in Campbell, CA. The 3 bedroom/1 bathroom home is perfect for a first time buyer. This home is approximately 1290 square feet with a lot size of 9400 square feet with marble floors in kitchen area, double pane windows, and some fruit trees. Asking price: $619,000. For more information please contact my assistant krasmussen@interorealestate.com .

Bay Area Apartment Broker Forum

Group: Bay Area Apartment Brokers Forum - Established 1986 - (22 Years)
Guest Speaker: John Klimp - Mayfield Management Company
Topic: The Multi-housing Due Diligence Process
Date: Wednesday, August 13, 2008 - 8 AM
Place: First American Title Company, 1737 North First St., San Jose
Breakfast: Continental Breakfast - no charge - First American Title/Exchange
Chairman: Richard Domich - CB Richard Ellis
Vice Chairman: Keith Suddjian - Cornish & Carey
Membership: Kari Noomen - Washington Mutual
Sponsor: Mary Kay Kennedy - First American Exchange
Sponsor: Joe Campi - First American Title
Sponsor: Paul Monaco - First American Title
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
Sept. 10, 2008 Puneet Singh - Nuisance Tenants 2008
Oct. 8, 2008 Ken Orvick - Apartment Management Issues 2008
Nov. 12, 2008 Michael Thomas - How Technology is Changing Real Estate

Two Wonderful Bangkok Listings For Sale

For sale 2 brand new condos adjacent to each other on the 26th floor of Baan Rajprasong (see http://www.baanrajprasong.com/). Baan Rajprasong is near Ratchadamri BTS sky train station with panoramic views of Lumpini Park. The building is on crown property and the leasehold period is 30 years with option to extend a further 30 years. The one bedrooms/one bathroom unit is type A3 (see http://www.baanrajprasong.com/floorplan/typea3.html for floor plan) and 77 square meters (about 829 square feet). Asking Price: US $260,000. The other unit is a three bedroom/2.5 bathroom unit that is a type C (see http://www.baanrajprasong.com/floorplan/typec.html for floor plan) and 168 square meter (about 1808 square feet). Asking price: US $570,000. For more information please email me mario@interorealestate.com.

8 unit Sunnyvale Apartments for Sale

Just listed, a Sunnvyale apartment building in South Sunnyvale for sale at $1,698,888. Rents per months are $11,245. All 2 bedroom, one bath units, on a strong rental street near Lawrence Expressway and El Camino Real. 6,400 square feet on over 11,700 square foot lot. Two buildings of 4 units each on one lot. Sunnyvale and Santa Clara demographics are doing well. Rents are up and vacancies are down. For a marketing package, please email or call for a showing.

Make A Wish Foundation

Next week we finally start our first Slow-pitch softball game on August 11, 2008 for the Make of Wish Foundation. Many Real Estate offices in the Silicon Valley have put together softball teams to not only play softball but to raise money for such a good cause. The Make Of Wish Foundation specializes in raising money for children who suffer from life threatening illness and then to grant a child's wish such as meeting a famous athlete, or celebrity, or even becoming a police officer. We have raised a good amount of money but would definitely love to raise more. We ask all of you who can participate and donate to this cause to please help us out. You may also visit http://www.wish.org/ to find out more information about this foundation and making a donation. If you have any questions and would like to purchase a make of wish star from Intero Real Estate please contact my assistant krasmussen@interorealestate.com.

Los Gatos Bank Owned/Reo Duplex $849,999

Rarely can you find a solid bank owned property in Los Gatos. Well now's your chance to make a great investment in this 2 unit property that consists of a (1) 3 bedroom 2 bathroom, and a 3 bedroom 1.5 bath which was recently rented month to month @ $2100. This home is move in ready and waiting for a buyer. For more information please contact my assistant krasmussen@interorealestate.com.

Terrific Duplex Investment Opportunity

This is a great opportunity to live in a very quite residential neighborhood on a serene, tree-lined street. You don't want to miss out this excellent bank owned 2-unit property. The duplex is totaling 1752 square feet and has a lot size of 6240 square feet. Both units are 2 bedroom 1 bathroom, laundry area in garage, and one parking space per unit. For more information please contact my assistant krasmussen@interorealestate.com.

Bay Area Apartment Brokers Forum

Group: Bay Area Apartment Brokers Forum - Established 1986 - (22 Years)
Guest Speaker: John Klimp - Mayfield Management Company
Topic: The Multi-housing Due Diligence Process
Date: Wednesday, August 13, 2008 - 8 AM
Place: First American Title Company, 1737 North First St., San Jose
Breakfast: Continental Breakfast - no charge - First American Title/Exchange
Chairman: Richard Domich - CB Richard Ellis
Vice Chairman: Keith Suddjian - Cornish & Carey
Membership: Kari Noomen - Washington Mutual
Sponsor: Mary Kay Kennedy - First American Exchange
Sponsor: Joe Campi - First American Title
Sponsor: Paul Monaco - First American Title

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

Sept. 10, 2008 Puneet Singh - Nuisance Tenants 2008
Oct. 8, 2008 Ken Orvick - Apartment Management Issues 2008
Nov. 12, 2008 Michael Thomas - How Technology is Changing Real Estate

Bank Owned Duplex West San Jose for $644,900

There is a very good deal in west San Jose for a duplex with all the right things going for it. It is by far the worse property on the block - yes that is always the best strategy. Buy the dog and upgrade it to match the pristine neighborhood. Side by side configuration with shared garage, hallway and bathroom walls only between the two units. No bedroom walls shared. Good square feet for 2 bedroom, 1 bath units. Nice roof. Well configured backyards. Convenient to Santana Row, El Paseo de Saratoga, Westgate Mall and more. Hardwood floors under very nasty carpeting! Needs paint and some more touch ups and you will have a very nice duplex to live in or to lease out. Call me for a tour - this will go fast.

Duplex "Coming Soon" in Sunnyvale

We have a really nice 3 bedroom 2 bathroom owners units, and a 2 bedroom 1 bathroom rental unit coming very soon for $875,000. It's in a very nice neighborhood on a good street, with excellent Cupertino Schools surrounding as well as Fremont High School. For more information about this up coming listing please contact me Mario at 408-342-3155.

Stunning Santana Row Condo Listing

This stylish loft has a lot to feature, it's a 1 bedroom 1.5 bath totaling 1250 square feet. The living area features an open floor plan with granite kitchen, den/office area, large bedroom suite, and your own private 300 square feet patio. Custom interior painting and lighting has been done throughout loft as well. You can live in this upscale neighborhood today for $635,000, where there is tons of entertainment and excitement. This condo makes a great weekend getaway. To view this home please contact me mario@interorealestate.com.

Tuscani Pointe

Tuscani Pointe is an opportunity for an investor to acquire a unique commercial real estate investment located in Phoenix, AZ. The property is located at 711 East Carefree Highway and consists of one, two-story , multi-tenant retail building totaling approximately 65,545 square feet. The property is currently leased to a total of 30 tenants on a NNN lease basis.

Price: $11,970,000/ $182.62 Price per square foot
Cap Rate: 8.79%
Land Area: 254,672 sq ft/ 5.846 acres
Year Built: 2004
Major Tenants: Roadrunner Pharmacy, Eaton Vet Labs, Ray's Pizza, Arizona Cosmetic Surgery, Smile Creations, Dentistry, North Valley Magazine
Occupancy: 91%
Parking: 251 total parking spaces

For more information please contact me mario@interorealestate.com

Financial Title - messy situation

Financial Title shuttered its doors yesterday morning. Unfortunately for some buyers and sellers, there were escrows that were pending to close that day and in the next few days. We are helping with one right now that funded yesterday - into a black hole may I add. The accounting department could not be reached by phone, so no word on whether the wire reached, was rejected, or what. The situation was also worsened by the fact that today is the last day of the month - typically an accounting nightmare for escrow companies normally - and bank commitment letters tend to expire at the end of the month too. Many of the families that planned to move in or out this weekend will have to scramble because these transactions will be in limbo for a few days - if they're lucky. It's a mess and I wish those families the best in this situation.

Luxury Santana Row Condo $1,225,000

Rare 2 bedroom, 2 bathroom unit facing Santana Row - only two of these exist! This unit has all the amenities of loft units but on one level. Amenities include: 2 parking spaces in secure garage, stainless steel appliances, granite counter tops, double pane windows, inside laundry, corner view, and a generous patio that opens out to a view of the Santana Row shops. You don't want to miss out on such a good opportunity to live in this fun filled area with so much excitement, entertainment and great food. To view this unit, call me at 415-269-6249.

Financial Title Insurance Update

Any open escrows are being transferred to First American Title Company from the closed Financial Title offices. First American was underwriting the title insurance policies of Financial Title, so it seems like it will be a straight-forward process. First American is a strong financial institution with very good reserves. I am sure the insurance regulators will be looking far more closely at the other privately held insurance companies regarding their financial stability.

Financial Title Company Shut Down

It looks like the rumors were true about the financial stability of Financial Title, the flagship of Mercury Companies, Inc. title and escrow empire in California. While Mercury is a privately held company and not publicly traded - their financial stability did not need to be fully disclosed like a public company and hence the rumors only until today's curtain call.

Another Mercury title insurance company, Alliance Title shut their doors in December 2007. Alliance had approximately a 22% market share locally. Most escrows were folded into Financial Title offices. Recently Financial had approximately a 11-14% of market share in the last couple months. This relatively low figure undoubtedly due to a lack of confidence in the financial stability of the mother ship - Mercury.

When someone chooses an insurance carrier, you want to be able to know they will be there long term.

My pick for title services has been Chicago Title, a Fortune 500 public company with over $1.3 Billion in reserves, nationwide and in business for over 160 years. CT is under the huge umbrella of Fidelity National Financial.

Santa Clara County Market Share

Above is a graph showing what Intero Real Estate has done in the valley since it's inception. Big Blue is next! Sometimes I like to be proud of the company I keep. I truly believe that a forward thinking company that gives space for new ideas has a huge advantage - Intero works this way.

Just click the above picture to view a larger picture of graph. Please contact me if you have any questions at mario@interorealestate.com.