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.

Sunnyvale,Milpitas, Saratoga Bank Owned Homes

We currently have new updated lists of Single Family Bank Owned Homes in Santa Clara County. For more information on bank owned homes please contact me mario@interorealestate.com.

List Price/Street Address/City/Bldg SqFt

$899900/18501 ALLENDALE AV/Saratoga/1494
$84500/18624 LOREE AV/Cupertino/1048
$590000/256 S TEMPLE DR/Milpitas/2037
$509000/329 NORWICH AV/Milpitas/1556
$507900/461 TAYLOR DR/Milpitas/1358
$499999/842 COYOTE ST/Milpitas/936
$499900/372 GREENLAKE DR/Sunnyvale/1612
$479900/472 EASTER AV/Milpitas/1112
$469900/1446 Wabash ST/San Jose/1409
$455900/1384 GLACIER DR/Milpitas/1065
$449900/925 FAIRWOOD AV/Sunnyvale/1000
$439900/907 LAKEBIRD DR/Sunnyvale/964
$439900/1331 TORRANCE AV/Sunnyvale/1275
$435000/52 SMITHWOOD ST/Milpitas/980
$435000/838 SAN RAMON AV/Sunnyvale/1078
$410000/245 HAZEN ST/Milpitas/1064
$349900/1433 FREELAND DR/Milpitas/912

Morgan Hill/ San Martin/ Gilroy Bank Owned Homes

List Price/Street Address/City/Bldg SqFt

$1425000/2549 BUTCH DR/Gilroy/6207
$1013900/2390 SUNFLOWER CI/Gilroy/3676
$889000/7108 LAHINCH DR/Gilroy/3964
$799900/15100 SEYMOUR AV/San Martin/1975
$669900/16637 SAN BENITO PL/Morgan Hill/1916
$659900/2104 GULLANE WY/Gilroy/2417
$649900/897 CAMROSE CT/Gilroy/3496
$629900/16809 CORY DR/Morgan Hill/2292
$609900/920 BROOK WY/Gilroy/2654
$569900/16610 SAN BENITO PL/Morgan Hill/2011
$558000/16485 DEL MONTE AV/Morgan Hill/1839
$535000/17380 CARRIAGE LAMP WY/Morgan Hill/1797
$519900/9610 BLUE HERON CT/Gilroy/2464
$485900/895 OAK PARK DR/Morgan Hill/1771
$474900/910 PERRELLI ST/Gilroy/2851
$459900/920 W 6TH ST/Gilroy/2097
$449900/1605 ACACIA WY/Morgan Hill/1296
$439900/17775 CREST AV/Morgan Hill/1080
$408500/16645 CORY LN/Morgan Hill/1228
$399900/6410 CHURCH ST/Gilroy/2590
$389900/7121 ROSANNA ST/Gilroy/2028
$389500/7685 WREN AV/Gilroy/1839
$384900/2140 PACHECO PASS HW/Gilroy/720
$379900/777 RAMONA WY/Gilroy/1924
$379900/16750 SAN LUIS WY/Morgan Hill/2085
$353900/80 WRIGHT AV/Morgan Hill/932
$352000/767 RAMONA WY/Gilroy/1364
$299900/7151 ROSANNA ST/Gilroy/1058
$259900/8330 FOREST ST/Gilroy/1256
$254900/8070 FOREST ST/Gilroy/1368
$252000/211 W 9TH ST/Gilroy/1296
$929900/191 FENNEL CT/Morgan Hill/3342
$624900/7571 SANTA BARBARA DR/Gilroy/2938
$589900/9131 PADOVA DR/Gilroy/2274
$581900/1636 BRENTWOOD LN/Gilroy/1948
$549900/9238 CALLE DEL REY ST/Gilroy/2270
$529000/790 ALAMO DR/Morgan Hill/1844
$499900/261 RONAN AV/Gilroy/2140
$499900/17950 DEL MONTE AV/Morgan Hill/1825
$489900/776 TENNYSON DR/Gilroy/1497
$484900/7816 DICKENS WY/Gilroy/1568
$459900/691 EDEN ST/Gilroy/1814
$445000/7551 ROGERS LN/Gilroy/1838
$439900/895 SUSAN CT/Gilroy/2042
$434900/700 EL CERRITO WY/Gilroy/1536
$394999/14561 CROWNER AV/San Martin/1536
$384900/7315 CHADWICK ST/Gilroy/1474
$370000/1615 BRENTWOOD LN/Gilroy/1278
$369999/75 W 2ND ST/Morgan Hill/552
$353900/621 SHERWOOD DR/Gilroy/1328
$352000/767 RAMONA WY/Gilroy/1364
$329900/419 HADLEY CT/Gilroy/1071
$319900/7575 CHESTNUT ST/Gilroy/1196
$299500/404 FELLOM CT/Gilroy/1238
$289900/8336 GAUNT AV/Gilroy/1150
$285000/7581 CHURCH ST/Gilroy/1324
$285000/7430 ROGERS LN/Gilroy/1204
$260000/7496 CHESTNUT ST/Gilroy/1670
$244900/7450 ROGERS LN/Gilroy/1204
$237777/564 HOOVER CT/Gilroy/1204

Las Vegas Real Estate

After spending 5 days in Sin City attending the Mike Ferry Real Estate Superstar Retreat - I have the following thoughts about real estate in Las Vegas:
It's all about location - duh! - I got a great deal on a timeshare a half block off the strip - it was gorgeous, very comfortable and comparatively inexpensive - I'll never do that again! Why? because either I had to brave the 100+ degree heat to get anywhere or hop a taxi at $12 per ride. So did it make sense for me to save $20 per night and not stay in a mega casino? I think not.
Expanding on that thought - if you are going to buy in Vegas, buy on the strip itself or don't do it at all. The City Center development which will open in late 2009 will be the crown jewel (sorry Wynn) of the strip - now that is location, location, location.
Of course, the single family home market in Las Vegas is hurting badly - way too many homes bought for investment and too few available tenants. Also, sprawling developments in town and in the adjoining suburbs have flood the market with inventory. At some point, every glut of inventory will reap great deals - be patient though on this - it isn't time yet.
Last thought for today - stick with what you know - I know blackjack ( the book "21" was great - movie not so good - its in the video stores now ) I "learned" Pai Gow Poker this week - please kick me next time I want to expand my gambling horizons... Moral of the story - invest in what you know, many of us think we know Las Vegas (I'm talking to you Californians) and many of us really don't. It may be less exciting and more expensive to invest in your own towns and the results may be far more predictable and manageable.
Ok - final thought - the Red Piano concert by Elton John rocks!