Bank Reo Condo in Milpitas $259,900

Two bedrooms, 1 bath, upstairs condo very convenient to Calaveras, 237, 880 and 680. 924 square feet. 1 car garage. Offered at $259,900. HOAs at only $265 per month. Pool in complex too. Let me show you this great opportunity.

Apartment Insights Silicon Valley

Larry Losness spoke today at the 2nd inaugural meeting of the CCIM Silicon Valley group. Some interesting points from his presentation on apartment properties:

Only 30 duplexes closed escrow in 2008 so far - 495 had closed in 2005
Only 22 fourplexes closed escrow in 2008 so far - 316 in 2005
188 duplexes on the market in the county
102 fourplexes on the market in the county

Rents going up
Vacancy at 3.2% average across the valley
Housing affordability gap of rent vs. mortgage is the spread between average rent of $1,500 and average mortgage of $4,000. This causes many people in the valley to rent till they pair up (get married) or till they rise in the corporate ranks and make more income. Either way, it makes for longer term tenants not moving in to purchase housing till their mid-thirties or later. Good for landlords. The rest you can extrapolate!

Valley Fair Santana Row Homes Under 600k

I just showed three homes near the very popular Santana Row and Valley Fair neighborhoods under $600,000 and they are very attractive. It amazes me how reasonable the market has become in an area that is historically well sought-after. 2240 Woodland Avenue as an example is a three bedroom, 1 bath, single family home on a 6,500 square foot lot for $585,000. This is a neighborhood that has a great elementary school and is convenient to everything in the valley. Definitely this value gives pause to the thought of buying a 1 bedroom with den loft in Santana Row. Let me know if you are interested in seeing what I am seeing in this great market.

CCIM Commercial Marketing Meeting May 27th in Cupertino

NCalCCIM Silicon Valley District Meeting
The Current State of the Silicon Valley's Commercial Real Estate Market: An Insiders' View
A panel of brokers from CCIM and the Silicon Valley discuss the commercial real estate market in the Silicon Valley at this meeting of the Silicon Valley District of NCalCCIM.
Moderated by Pete Chrzaszcz, President, Commercial Masterminds, and Mario Pinedo, CCIM, Intero Real Estate.
The panelists are: Larry Losness, President, Losness Group Investment Real Estate Corporation Ed Mendence, SIOR, Senior VP REMAX Commercial, Silicon Valley Robert Badagliacco, Senior Vice President of Remax Commercial, Silicon Valley Geri Wong, CCIM, Senior Vice President, Ritchie Commercial
Coffee will be served and the meeting is free of charge
WHEN: Tuesday, May 27, 2008 8:30 - 9:00 Networking9:00-10:30 Program
WHERE: UCSC Extension-Silicon Valley10420 Bubb RoadCupertino, CA 95014
RSVP: Monday, May 26, 2008
Please email my assistant at Krasmussen@interorealestate.com if you are interested in attending

Fabulous San Francisco Soma Loft $599k

Read about this wonderful San Francisco loft condo in the SOMA district for only $599,000:

Address: 175 Bluxome Street #133
District: SOMA/Mission Bay
Bedrooms: 1 BR+ Den
Bathrooms: 1.5 BA
Style: Loft
Parking: 1 car deeded
Offered At: $599,000

SOMA Loft

• High Loft Ceiling Height in Principle Rooms• Honey Bamboo Floors• Ample Closets• Renovated Kitchen with maple cabinetry, granite counter tops, and stainless steel appliances including microwave, refrigerator, stove, and dishwasher• Washer/Dryer• Large Private Outdoor Space• Modern Ceiling Fan• Upgraded Track Lighting• Deeded Parking• 2 Entrances
The heartbeat of San Francisco is at 175 Bluxome. Located in the burgeoning Mission Bay and SOMA, this loft is the epitome of urban living. Who says you can't have it all? With deeded parking, deeded outdoor space, two outdoor entrances, and a truly turn-key loft home, city life can be yours.From the very first steps into 175 Bluxome your senses will be enveloped. Feel the cool, industrial tile as you walk through the entrance into the bamboo courtyard. Hear the sounds of the serene fountain as it lulls the urban jungle outside. Witness the shimmering bamboo as it sways gentle in the wind, bringing a sense of the great outdoors inside.Once inside, Loft 133 is a compact, loft-styled condominium that delivers exactly what you need where it counts the most. The entry hall opens to a den with a large closet and washer/dryer. The renovated kitchen with modern appliances opens to a dining area and living area. There is a second entrance to this home that opens to a deeded outdoor space. Upstairs, the mezzanine bedroom is very secluded and private. A full bathroom upstairs and ample closet space make this a functional yet versatile home. Bamboo hardwood floors, modern ceiling fan, and industrial staircase bring big style to this loft space.Located at the intersection of SOMA, SouthBeach and Mission Bay, coveted amenities are all within walking distance. From gourmet grocery stores and world class dining to quaint corner cafes you have an all access pass to the best the city has to offer. Not to be under-played is the fine weather, convenience, and stimulation of the thriving SOMA neighborhood where you can work, play, wine, and dine in a banquet of eclectic offerings. The Embarcadero, Financial District, Waterfront Trail and Mission Bay are all within walking distance.

If this is the year for your pied-a-terre... let's talk. And if this doesn't float your boat - I can show you some flats that surely will:-)

Beautiful Bank Owned Homes in Evergreen Hills

We are now tracking two beautiful homes in the foothills of Evergreen(San Jose). This first home is a bank owned opportunity listed for $959,900. It's surrounded by the very popular Evergreen Hills neighborhood, and award winning Evergreen Schools and also very close to the Silver Creek Valley Country Club. This home has 4 bedrooms and 4.5 baths with high ceilings, large kitchen, separate living, dining and family rooms and beautifully landscaped.

This next home located in the beautiful hills of Evergreen is as well a bank owned deal listed for $739,000. This home is a 3 bedroom 2.5 bath with ceramic title floors in entry and baths. There is also recessed lights throughout, dual pane french windows, central A/C, complex has a pool, and just walking distance to Evergreen's top school. If you have additional questions or would like to tour one of these homes please contact me.

Downtown Mountain View Condo - Very Good Value

This is an awesome 3 bedroom, 2.5 bath condo in downtown Mountain View. Perfect commute location, excellent dining and shopping within walking distance, great modern building. This building is one block off the best of Castro Street. There is a park walking distance, the library, Cal Train station and many many more things steps from your door. Let me show you this very good deal before it is long gone. $699,000 for 1,263 square feet.

Bank REO Condo in Mountain View $599,000

This is a rare find that we're currently tracking in Mountain View. This gorgeous 3 bedroom/2 bath penthouse condo has over $30,000 in recent upgrades. 1,482 square feet of living space. Some new improvements include: beautiful kitchen with maple cabinets, granite counter tops, recessed lighting, new sink and faucet, stainless steel appliances, new carpet, paint, fixtures and also new bathrooms. This condo is in a great location, very close to shopping, and highways. This condo is now a bank owned REO which means a GREAT PRICE! Call me to tour.

Landmark Office Building for Sub-Lease in San Jose

Everyone knows the triangle building visible off of 280 at Stevens Creek & Lawrence Expressway. There is a good opportunity to sub-lease 14,645 square feet at an attractive $2.75 full service rate through January 31, 2010. An additional 16,777 square feet may also be available directly from the landlord. Great parking, great presence, great visibility to run your company. Call me to tour if you are interested in expanding.

Free Bone Marrow Registration Ends Today!

Normally $52 to register to the National Marrow Donor Program, if you register on line by the end of the day today, it is free due to corporate sponsorships. Go to www.marrow.org - it takes about 10 minutes and you will receive your swab kit in a couple weeks. The marrow typing is now just a cotton swab in the mouth and very easy. Of course - there is a big commitment if you actually donate marrow some day - and don't you think that gift will give huge benefits to someone?

Start Monday off right - challenge yourself and do something worthwhile.

Thanks!

Bay to Breakers

I, along with 65,000 other people ran the Bay to Breakers race in San Francisco this morning. The B to B is a must event to do sometime in every Bay Arean's life. Crazy costumes, tortillas flying in the air, garage bands all along the course, amazing views and much much more. Plan to run with the Intero team - this year 60 strong - next 3rd Sunday in May.

Mario Pinedo, CCIM

Intero Real Estate

415-269-6249 cell

408-342-3155 office

Sent via my BlackBerry

PENINSULA INVESTMENT FORUM MARKETING MEETING

On Tuesday May 27, 2008 Mary Kay Kennedy, the senior vice president of First American Exchange Company will be guest speaking at First American Title Company in Redwood City. Mary Kay Kennedy manages the Northern California Region for First American Exchange, and prior to joining First American Exchange, Ms. Kennedy practiced real estate law in the corporate sector for over 20 years. Mary Kay will discuss how the creative use of 1031 exchanges can save your deals in a difficult market. Topics will include combining a 1031 exchange with an installment note, reverse and build to suit exchanges, trading options to purchase, understanding what is "like kind" to real estate, and the new vacation home safe harbor rule.

MODERATOR: JACK TURTURICI
SPERRY VAN NESS TURTURICI PROPERTIES

DATE: May 27, 2008 (fourth Tuesday of each month)

LOCATION: FIRST AMERICAN TITLE
555 Marshall Street, Redwood City
AGENDA: 7:45 A.M. NETWORKING

8:00 INTRODUCTIONS
8:10 PROPERTY PRESENTATIONS
8:15 GUEST SPEAKER

THE PENINSULA INVESTMENT FORUM provides the opportunity to market your exclusive for sale listings to professionals in the commercial investment real estate community. Please bring 40 copies of your package for presentation.

Sponsored by:
Janine McCaffery-First American Title (650) 569-2517
Mary Kay Kennedy-First American Exchange (800) 833-4343
Neil Santiago-Bridge Bank (650) 462-8522

Saratoga Open House Sunday May 18, 2008

On Sunday, May 18, 2008 I will be holding an open house for this beautiful Saratoga hills home, located at 21021 Sarahills Dr, Saratoga Ca 95070, listed for $3,108,000.00 million. This stunning view home consists of 6 bedrooms, 3 baths with panoramic views of the city that are to die for (or to live for). Great home for entertainment and just walking/biking distance to excellent Saratoga Schools. This is one house you don't want to miss. For more details, come visit me on Sunday May 18, 2008 between 1:30pm- 4:30pm. If you have additional questions before coming to tour this home you may always contact us www.bayareainvestmentrealestate.com

Great Investment Property Located In San Jose

We are tracking a fully occupied and very well maintained upgraded apartment building located near downtown San Jose. This 6 unit building is an excellent unit mix of two 2-bedroom units and four 1-bedroom units, now listed for $875,000.00. New upgrades in units that have been recently modified are central forced air heating, air-conditioning, double pane windows, new doors, and many more upgrades. These units also include great parking in both front and back of building which make it very convenient. The building is professionally managed and is a great turning point for investment. This is a must see!!! If you have any questions about this property or would like a tour please feel free to contact me or my assistant.

Mario Pinedo- (408)342-3155
Mario@interorealestate.com

Kelli Rasmussen- (408)342-8694
krasmussen@interorealestate.com

NCalCCIM Silicon Valley District Meeting

NCalCCIM Silicon Valley District Meeting

The Current State of the Silicon Valley's Commercial Real Estate Market: An Insiders' View

A panel of brokers from CCIM and the Silicon Valley discuss the commercial real estate market in the Silicon Valley at this meeting of the Silicon Valley District of NCalCCIM.

Moderated by Pete Chrzaszcz, President, Commercial Masterminds, and Mario Pinedo, CCIM, Intero Real Estate.

The panelists are: Larry Losness, President, Losness Group Investment Real Estate Corporation Ed Mendence, SIOR, Senior VP REMAX Commercial, Silicon Valley Robert Badagliacco, Senior Vice President of Remax Commercial, Silicon Valley Geri Wong, CCIM, Senior Vice President, Ritchie Commercial

Coffee will be served and the meeting is free of charge

WHEN: Tuesday, May 27, 2008 8:30 - 9:00 Networking9:00-10:30 Program

WHERE: UCSC Extension-Silicon Valley
10420 Bubb Road
Cupertino, CA 95014

RSVP: Monday, May 26, 2008
Please email my assistant at Krasmussen@interorealestate.com if you are interested in attending

Great Investment Just Listed in Cupertino

Here's a great investment opportunity that has just been listed in Cupertino on quiet Leola Ct. Two duplexes on one lot going for $1,549,000. Each building is comprised of (1) 3 bedroom/2 bath, and (1) 2 bedroom/ 1.5 bath unit. These beautiful duplexes are a total of 5,318 Sq. Ft. living area on a 11,325 Sq. Ft. lot. For questions regarding this property please feel free to give myself or my assistant a call and we would be more than happy to help.

Mario Pinedo
mario@interorealestate.com
Direct Ph: 408-342-3155
Kelli Rasmussen-Assistant to Mario
Krasmussen@interorealestate.com
Direct: 408-342-8694

First Time Home Buyers Seminar

It's that month again on Thursday May 15,2008 we are holding our First Time Buyers Workshop. It is a great opportunity that you shouldn't miss out on. If you are interested please R.S.V.P. as soon as possible. You can R.S.V.P. to either,

Mario Pinedo
Mario@interorealestate.com
Direct Ph: 408-342-3155
or
Kelli Rasmussen-Assistant to Mario
krasmussen@interorealestate.com
Direct Ph: 408-342-8694

Bay Area Apartment Brokers Forum

On Wednesday, May 14, 2008 Steve Seligman- regional manager of Marcus and Millichap will be speaking at the Bay Area Broker Forum at First America Title Company. The topic is "What Makes a Great Broker 2008". 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. This will include many guest speakers as well as a free continental breakfast. Please read below to get information on this great opportunity.

Group: Bay Area Apartment Brokers Forum
Guest Speaker: Steve Seligman, Marcus and Millichap, Palo Alto
Topic: What Makes A Great Broker 2008
Date: Wednesday, May 14, 2008- 8AM
Place: First America Title Company
1737 North First St
San Jose, Ca

New construction closing costs Santa Clara County

Answer to the question about who pays closing costs for new construction in Santa Clara County:

The convention on sales in Santa Clara County is that the seller pays for escrow fee and seller's title insurance. The buyer pays for the lender's supplemental title insurance. County transfer tax is paid by seller and City of San Jose transfer tax is split 50/50. Santa Clara County is very buyer favorable. Alameda and San Mateo counties are very seller favorable. As for new construction developments - many have been making the buyer pay for all of it. This rubs many buyers the wrong way because they will have to pay the most on both the purchase and the eventual sale - because as a resale - it would normally fall under the accepted convention of the county. It is what it is unfortunately...

Gilroy, Morgan Hill and San Martin bank owned Reo's

We have currently updated our list of bank owned Reo's in Santa Clara County. You will see a list below of current listings in Gilroy, Morgan Hill and San Martin with price ranges from 1.6 million to low 300's k.

List Price Street Address City Bldg SqFt

1600000
2549 BUTCH DR
Gilroy
6207

939000
7108 LAHINCH DR
Gilroy
3964

909000
17471 BELLETTO DR
Morgan Hill
3219

774900
15930 LA ESCUELA CT
Morgan Hill
2605

719000
20 ANGELICA WY
Morgan Hill
2423

669900
16637 SAN BENITO PL
Morgan Hill
1916

630000
8845 DAFFODIL PL
Gilroy
2287

599000
12860 LLAGAS AV
San Martin
1286

590000
1451 PEREGRINE DR
Gilroy
2439

579900
811 SIENA CT
Gilroy
2274

560000
831 EL GATO WY
Gilroy
3255

554900
1310 FERNWOOD LN
Gilroy
2474

549000
16740 FELIZ CT
Morgan Hill
1502

539900
920 W 6TH ST
Gilroy
2097

535000
17380 CARRIAGE LAMP WY
Morgan Hill
1797

494900
740 BABBS CREEK DR
Gilroy
1845

479900
1605 ACACIA WY
Morgan Hill
1296

477900
777 RAMONA WY
Gilroy
1924

477000
8809 DAFFODIL PL
Gilroy
1466

469900
9351 HIRASAKI AV
Gilroy
1564

469900
385 W DUNNE AV
Morgan Hill
1504

467900
7305 HAGEN CT
Gilroy
1304

444500
189 BENDER CI
Morgan Hill
1552

419900
7121 ROSANNA ST
Gilroy
2028

410000
767 RAMONA WY
Gilroy
1364

409900
1015 WENTZ DR
Gilroy
1525

409900
7685 WREN AV
Gilroy
1839

403900
760 LA ALONDRA WY
Gilroy
1463

395000
8080 CARMEL ST
Gilroy
1192

390000
750 LA ALONDRA WY
Gilroy
1463

369900
432 WILLY CT
Gilroy
1478

362400
7030 ROSANNA ST
Gilroy
1912

359900
17644 CREST AV
Morgan Hill
916

349900
591 EDEN ST
Gilroy
1300

330000
7526 DOWDY ST
Gilroy
1014

329900
7151 ROSANNA ST
Gilroy
1058

319000
7496 CHESTNUT ST
Gilroy
1670

285000
200 LILLY AV
Gilroy
1123

1103900
191 FENNEL CT
Morgan Hill
3342

999900
1360 ARLIA CT
San Martin
2632

869900
11430 NEW AV
Gilroy
2237

829900
2772 MIRA BELLA CI
Morgan Hill
3313

624900
7571 SANTA BARBARA DR
Gilroy
2938

549900
9238 CALLE DEL REY ST
Gilroy
2270

549900
1471 SWALLOW LN
Gilroy
1832

549900
17950 DEL MONTE AV
Morgan Hill
1825

539900
1130 SAGE HILL DR
Gilroy
1689

515000
261 RONAN AV
Gilroy
2140

499900
790 CORDOVA CT
Morgan Hill
1446

489900
7170 HARVARD PL
Gilroy
2014

479900
895 SUSAN CT
Gilroy
2042

469900
700 EL CERRITO WY
Gilroy
1536

441000
9212 SEVERANCE ST
Gilroy
1581

440000
9257 ORINDA WY
Gilroy
1606

440000
1615 BRENTWOOD LN
Gilroy
1278

419900
1280 PAPPANI DR
Gilroy
1150

399900
7555 SANTA THERESA DR
Gilroy
1839

383900
7810 SANTA BARBARA DR
Gilroy
2000

359900
419 HADLEY CT
Gilroy
1071

319900
7216 CARMEL ST
Gilroy
1120

299000
7430 ROGERS LN
Gilroy
1204

294000
7450 ROGERS LN
Gilroy
1204