Duplexes, Fourplexes and Apartment Building Short Sales we are tracking...

This is a list of short sale multi-family residential investment properties that we are tracking in the greater San Jose market. Let me know if you want to run some numbers and see how this can work for you.

Street Address List Price City Zip Code
355-61 S WILLARD AV 3700000 San Jose 95126
141 W HAMILTON AV 950000 Campbell 95008
439 N 8TH ST 839888 San Jose 95112
496 W NORTHLAKE DR 839000 San Jose 95117
3155 WILLIAMSBURG DR 830000 San Jose 95117
994 ZARICK DR 825000 San Jose 95129
32 MANNING AV 825000 San Jose 95127
4295 CAMDEN AV 819900 San Jose 95124
2944 DRIFTWOOD DR 768888 San Jose 95128
5547 THORNWOOD DR 750000 San Jose 95123
4057 BARRYMORE DR 739000 San Jose 95117
1837 MESITA WY 735900 San Jose 95124
1419 ESSEX WY 729000 San Jose 95117
5222 SNOW DR 724000 San Jose 95111
1047 OAKMONT PL 720000 San Jose 95117
180 E YOUNGER AV 700000 San Jose 95112
1517 POMONA AV 699000 San Jose 95110
357 LELAND AV 695000 San Jose 95128
155 OAK ST 690000 San Jose 95110
261 S 22ND ST 689999 San Jose 95116
446 DOMA DR 689000 San Jose 95117
734 DAILEY AV 680000 San Jose 95123
269 WASHINGTON ST 680000 San Jose 95112
700 BANFF ST 680000 San Jose 95116
936 PREVOST ST 679000 San Jose 95125
650 S CYPRESS AV 670000 San Jose 95117
700 BANFF ST 660000 San Jose 95116
188 GRAMERCY PL 650000 San Jose 95116
1025 N 6TH ST 650000 San Jose 95112
5509 RUSSO DR 649784 San Jose 95118
2208 CAMDEN AV 640000 San Jose 95124
822 HARLISS AV 629000 San Jose 95110
229 S 33RD ST 620000 San Jose 95116
213 LYNETTE WY 615999 San Jose 95116
695 BANFF ST 604999 San Jose 95116
323 E HUMBOLDT ST 600000 San Jose 95112
921 S 11TH ST 600000 San Jose 95112
1219 VINE ST 600000 San Jose 95110
80 EASTWOOD CT 595000 San Jose 95116
714 VESTAL ST 589000 San Jose 95112
654 S SUNSET AV 579000 San Jose 95116
727 BANFF ST 571000 San Jose 95116
260 N 17TH ST 550000 San Jose 95112
2470 CLYDA DR 499000 San Jose 95116
409 N 9TH ST 479888 San Jose 95112
24 S 21ST ST 429900 San Jose 95116

Current Single Family, Townhouse & Condo Short Sales we are tracking in Silicon Valley

This is a partial list of the great purchase opportunities we are tracking in the valley. Let us know if you want to see any of these.

Street Address List Price City Zip Code
230 N MURPHY AV 999000 Sunnyvale 94086
4397 LAIRD CI 959000 Santa Clara 95054
654 TULANE DR 899950 Santa Clara 95051
4496 HEADEN WY 815000 Santa Clara 95054
10356 MENHART LN 750000 Cupertino 95014
1364 NORMAN DR 731364 Sunnyvale 94087
1091 LUND TE #00043 730000 Sunnyvale 94089
3395 CABRILLO AV 719000 Santa Clara 95051
18624 LOREE AV 709500 Cupertino 95014
1249 OAK CREEK WY 700000 Sunnyvale 94089
3427 LAGUNA CT 699000 Santa Clara 95051
713 SANTA RITA ST 699000 Sunnyvale 94085
533 SEQUOIA DR 699000 Sunnyvale 94086
1777 POMEROY AV 690000 Santa Clara 95051
1632 CABRILLO AV 685500 Santa Clara 95050
4726 ARMOUR DR 684888 Santa Clara 95054
263 VELVETLAKE DR 680000 Sunnyvale 94089
1128 PRESCOTT AV 679000 Sunnyvale 94089
2543 BORAX DR 679000 Santa Clara 95051
774 SANTA PAULA AV 675000 Sunnyvale 94085
745 SAN SIMEON ST 669000 Sunnyvale 94085
2111 PRUNERIDGE AV 658888 Santa Clara 95050
1749 LOS PADRES BL 650000 Santa Clara 95050
418 S MARY AV 650000 Sunnyvale 94086
1763 HIGGINS AV 649000 Santa Clara 95051
1196 BLACKFIELD DR 649000 Santa Clara 95051
922 BARSTOW CT 640000 Sunnyvale 94085
1035 BLAZINGWOOD DR 635000 Sunnyvale 94089
3226 SAN JUAN AV 630000 Santa Clara 95051
685 HAMILTON LN 629000 Santa Clara 95051
530 PORPOISE BAY TE #UNIT C 619000 Sunnyvale 94089
1796 BOWERS AV 615000 Santa Clara 95051
937 BAIRD AV 610000 Santa Clara 95054
2611 BENTON ST 609950 Santa Clara 95051
2128 MONTEREY AV 600000 Santa Clara 95051
372 GREENLAKE DR 599950 Sunnyvale 94089
827 BAIRD AV 599950 Santa Clara 95054
725 KIELY BL 599000 Santa Clara 95051
1001 E DUANE AV 599000 Sunnyvale 94085
835 SAN PIER CT 599000 Sunnyvale 94085
1167 TUCSON AV 599000 Sunnyvale 94089
294 W EAGLEWOOD AV 599000 Sunnyvale 94085
2629 MEADOWBROOK DR 598888 Santa Clara 95051
2055 MONROE ST 598000 Santa Clara 95050
125 CONNEMARA WY #00016 595000 Sunnyvale 94087
1133 CROWLEY AV 588888 Santa Clara 95051
1334 SANDIA AV 579000 Sunnyvale 94089
925 FAIRWOOD AV 579000 Sunnyvale 94089
993 LAURIE AV 575000 Santa Clara 95054
779 LAURIE AV 575000 Santa Clara 95054
3347 CASHDAN CT 559000 Santa Clara 95051
460 N FAIROAKS AV 550000 Sunnyvale 94085
1290 BLACKFIELD DR 550000 Santa Clara 95051
730 SANTA SUSANA ST 550000 Sunnyvale 94085
3119 AGATE DR 549000 Santa Clara 95051
3210 MACHADO AV 540000 Santa Clara 95051
565 GRESHAM AV 540000 Sunnyvale 94085
363 STOWELL AV 540000 Sunnyvale 94085
2025 JACKSON ST 539000 Santa Clara 95050
2592 GLADE DR 539000 Santa Clara 95051
979 PINTO PALM TE #10 538000 Sunnyvale 94087
638 E DUANE AV 535000 Sunnyvale 94085
710 LAKEBIRD DR 532380 Sunnyvale 94089
1905 HOGAN DR 530000 Santa Clara 95054
1935 HOGAN DR 530000 Santa Clara 95054
2115 HOGAN DR 530000 Santa Clara 95054
842 DWIGHT AV 528000 Sunnyvale 94086
1331 TORRANCE AV 525000 Sunnyvale 94089
3901 LICK MILL BL #420 524000 Santa Clara 95054
608 ARCADIA TE #00104 519000 Sunnyvale 94085
756 SAN MIGUEL AV 518899 Sunnyvale 94085
1157 BLAZINGWOOD DR 515000 Sunnyvale 94089
616 CYPRESS AV 499950 Sunnyvale 94085
879 ACACIA AV 499000 Sunnyvale 94086
828 SAN PIER CT 499000 Sunnyvale 94085
2282 CREEK BED CT 499000 Santa Clara 95054
4709 SNEAD DR 499000 Santa Clara 95054
1385 SOCORRO AV 490000 Sunnyvale 94089
674 LAKEFAIR DR 489999 Sunnyvale 94089
250 SANTA FE TE #00320 485000 Sunnyvale 94085
1754 CABRILLO AV 469000 Santa Clara 95050
781 N FAIROAKS AV #00003 469000 Sunnyvale 94085
755 N FAIROAKS AV #00004 464900 Sunnyvale 94085
1273 CIVIC CENTER DR 450888 Santa Clara 95050
120 SARATOGA AV #00084 449000 Santa Clara 95051
929 E EL CAMINO REAL #416E 449000 Sunnyvale 94087
2580 Homestead RD #7103 429000 Santa Clara 95051
1400 BOWE AV #01807 420000 Santa Clara 95051
1730 HALFORD AV #00139 410000 Santa Clara 95051
755 N FAIROAKS AV #00003 399950 Sunnyvale 94085
3041 KAISER DR #A 399000 Santa Clara 95051
1123 REED AV #C 395888 Sunnyvale 94086
3901 Lick Mill BL #263 375000 Santa Clara 95054
880 E FREMONT AV #634 359999 Sunnyvale 94087
871 W CALIFORNIA AV #0000C 350000 Sunnyvale 94086
946 KIELY BL #0000E 320000 Santa Clara 95051
1750 HALFORD AV #00317 279000 Santa Clara 95051
980 KIELY BL #00128 262000 Santa Clara 95051

San Jose & Sunnyvale Fourplexes

There are some very good opportunities that we are tracking in the 4plex market in Silicon Valley. Four buildings in Sunnyvale look very good. Also, there is a blossom valley 4plex that is in great shape AND has the 5th best price per square foot in the valley. This market has also been affected by financing and seems like a great buying opportunity.

The Bottom Has Passed in Santana Row

Three sales of the popular "A" model just closed escrow. These three were on the market as distressed sales (financial difficulty, short sale, etc). They were also on the market through the late part of 2007 when gloom and doom thoughts were more prevalent. The lowest sale recorded at $500,000 for a model in the Margo building which overlooked the trash dumpster and the east foothills. Another Margo unit - also east foothills - closed at $569,000. And the third was a DeForest building unit facing the west foothills which closed at $525,000. These were models A2, A1 and A1. The recent pending sales are in escrow much higher than this. The last closing, yesterday 2/28/08 was for an A1 unit overlooking SR in Margo for $616,000. I doubt any other SR facing A unit will sell below this from now on. As I've mentioned before, there is a bottom evident out there folks - time to step up and fast!

Short Sales vs. "Normal" Sales

Agents and their buyers are far more apt to make an offer on a "normal" property than a potentially more lucrative short sale especially in a 1031 exchange situation. The best values in the market right now tend to be the most difficult. The "deal" that you see may not even be deliverable - full price or otherwise. This is because a short sale listing is probably not sanctioned by the true seller - the bank or more difficult - the banks. Therefore, a valid offer may languish in committee and a straight forward acceptance or rejection may never come. If you are in an exchange - this is not for you. 45 days go by fast. Therefore, the perhaps not so well-priced, yet deliverable normal sale seems far more attractive when you need or want to act quickly. Of course, there are strategies to counter act this - and that is for another blog entry - I've got to keep my numbers up!

Blossom Valley San Jose Price Support

Where is the bottom? I can tell you it is evident in Blossom Valley single family homes just under $500,000 list price. This is for your typical 40 year old ranch house, 3 bedroom, 2 bath, 1200ish square feet on a quiet street (IE: not on a freeway or on Blossom Hill). The homes that are listing at $499k are getting strong offer activity and going in to escrow! So what's the big deal? This: when the general populous realizes that a bottom has been achieved, a spring board effect will occur - not the 10 meter board height of course - but this will put confidence in the market. And if Palo Alto, Mt View, Cupertino, Saratoga and Los Gatos have confidence on the west side, then confidence starts in Blossom Valley, Campbell, Cambrian - we are at the beginning of stability. Don't crucify me if you think I'm nuts - it's just what I see...

2 bedroom short sale condo Mountain View

At $345,000 for a 2 bedroom, 1 bath, 796 square foot condo in a good Mountain View location - this is a great deal. Check out this lucrative opportunitiy. Very few short sales and foreclosures in Mountain View and Palo Alto. This would be a very good rental property to buy as an investment. Then sell in a few years when prices come back.

Los Gatos Short Sale Pre Foreclosure Condo

Walking distance to downtown Los Gatos - this wonderfully located large one bedroom 2nd floor condo is an excellent value. Offered at $390,000 on a short sale basis - needing bank approval - is $30,000 less than what it sold for one year ago. 789 square feet makes for a very large one bedroom unit. Association fee is a reasonable $390 per month. Call for a tour.

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