Fannie Mae & Freddie Mac

Interesting how two pseudo-government agencies, are now owned by the US Government. Seems as if they were guaranteed by the Fed, that it would suffice. Of course not. Guarantees were only for a small amount of loans - which was the assumed risk factor. The guarantee was never for a system that was about to implode due to wild speculation being generated from Wall Street (for the rationale and map of this statement - it was covered months ago). The FDIC too was formed to give confidence to bank depositors - that security as we all know now was like a carefully worded insurance policy with many limitations and outs for the insurer.
OK, enough Monday morning rambling - what does this mean for you and me? Interest rates will come down - confidence in the market has just improved. Lower interest rates will boost home sales. And more loan products will eventually enter the market. The loans that are highly anticipated are short term loans for people who lost their homes to foreclosures. This is always the case after a downturn in the market. When that happens, the market will again begin to percolate.

REO homes today

It is amazing what can be purchased in Milpitas, Berryessa, Evergreen, South San Jose and Blossom Valley now under $500,000. I just showed 11 homes this afternoon and all were well priced bank owned homes in decent locations and almost decent condition. Time to start taking advantage of a market that has been finally beaten up to deliver good deals.

Reo-Bank Owned Campbell Single Family Home

Lucky buyer will live in beautiful Campbell in a very desirable neighborhood. The home needs some work and updating but has great potential to fix up just how you like. This home is spacious with a separate family room, bright kitchen, with larger backyard and bedrooms. Reo-Bank owned property, Listing price $639,000

Top 10 Wealthiest Cities in America

Did you know Sunnyvale is one of the Top 10 Wealthiest Cities in America??

Quick Facts

Population: 140,516

Wealth index: 11.00 points

Note: Positive score indicates local wealth is higher than normal; negative score, lower than normal.

Wealth profile (Ranks in parentheses)

Per capita income: $38,058 (13th of 261)

Median Household income: $79,926 (11th o 261)

Incomes of $200,000 or more: 8.5% (12th of 261)

Upper 20% threshold for income: $148,437 (6th of 261)

Median home value: $708,700 (7th of 261)

Upper 25 threshold for home value: $900,700 (8th of 261)

Note: Study group includes 261 communities with populations above 100,000.

Save Mart Anchored Shopping Center in Fresno, CA

Figarden New Town

Fresno, Ca

• Purchase Price: $10,270,577
• Cap Rate: 7.25%
• Building Area: 36,461 SF
• Building $/PSF $261
• Year Built 2001
• Occupancy: 87%
• Anchored by newly renovated Save Mart supermarkets
• Tenant Mix includes Carl's Jr., Kragen, Starbucks, Subway, H&R Block, Advance America
• Offering includes Jiffy Lube ground lease
• Neighboring tenants include Walgreens, Ave Hardware, Golden One Credit Union
• Traffic Exposure on Figarden Drive: 55,144 cars per day
  

Bay Area Apartment Brokers Forum, Wednesday, September 10, 2008

Group: Bay Area Apartment Brokers Forum - Established 1986 - (22 Years)
Guest Speaker: Puneet Singh - Managing Partner, Kimball, Tirey & St. John LLP
Topic: Nuisance Tenants 2008
Date: Wednesday, September 10, 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
Oct. 8, 2008 Ken Orvick - Apartment Management Issues 2008
Nov. 12, 2008 Michael Thomas - How Technology is Changing Real Estate
Dec. 10, 2008 Robert Meyer - Tenant-In-Common Update - Proposed NAR Exemption

Evergreen Valley Bank Owned Home

We are now tracking a newly listed bank owned single family in Evergreen. This home is great for first time buyers and on a very nice lot with great surrounds such as; parks, schools, shopping centers and more. The home is a 3 bedroom 2 bathroom home and 1158 square feet on a 6000 square feet lot. Listing price $449,000. Please contact my assistant krasmussen@interorealestate.com to find out more details on this listing or if you would like general information on purchasing a bank owned home.

Absolute NNN Lease - Famous Dave's - Vista, CA

Famous Dave's

Vista,CA

Price $4,600,000

• Rentable Square Feet: 6,339
• Price/SF: $725.67
• CAP Rate: 6.50%
• Year Built: 2007
• Lot Size: 28,314
• New 16 year absolute NNN lease
• Adjacent to California Pizza Kitchen,Chili's & The Wave Waterpark
• Located less than 1/4 mile north of Highway 78
• Other nearby tenants include Staples, Lowe's & the Krikorian 15 MegaPlex

Beautiful Bankok Listings

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.

REMINDER: Peninsula Investment Forum, Tuesday, August 26, 2008

On Tuesday August 26, 2008 you don't want to miss the Peninsula Investment Forum Marketing Meeting. The guest speakers for this meeting will be Vlad Shlafman, development manager of Highland Development Company, and Ali Warner, Land Acquisition Manager of Urban Housing Group. Vlad and Ali will give us an inside look into the investment and development companies and also discuss the apartment and retail market today, and what they are looking for in terms of acquisitions.

Locations: First American Title
1700 South El Camino Real, San Mateo, Ca

Time: Starts at 7:45 A.M.

If you have any questions please contact krasmussen@interorealestate.com

Cupertino Bank Owned 3bed/2 bath Home

Rarely do bank owned homes become available in Cupertino so now's your chance to check out this stunning home. The 3 bedroom 2 bathroom home has a very functional floor plan with hardwood floor throughout, updated kitchen with newer cabinetry, granite counter tops and island. The master suite has his and her closets and vanities, jetted tub, and individual stall shower. This home offers a lot of potential and in some need of fixing, but don't forget about location location location. For more information please contact krasmussen@interorealestate.com .

Santa Teresa Bank Owned Single Family Home

This is a great bargain, you can live in a terrific neighborhood in a very desirable Santa Teresa area. The 4 bedroom/2 baths has wonderful potential with a nice floor plan and spacious rooms. Very private fenced back yard with swimming pool that has been recently drained/cleaned and ready to enjoy the summer.

BANK OWNED!!!

Listing price: $569,900

Sq ft: 1758

Lot Size: 6120 Sq ft

Trust & Estate Planning Seminar August 27th

Trust, Estate, Planning & Form of Title Issues that All Agents Should Understand

Special Discussion Topic

WHAT ARE A SELLER'S OPTIONS WHEN THE NEW ADMINISTRATION RAISES THE CAPITAL GAINS TAX?

Wednesday August 27,2008, 10:00a.m.

Chicago Title Seminar Room

20100 Stevens Creek Blvd

Cupertino, CA 95014

THIS WORKSHOP WILL BE IMPORTANT TO YOU IF ANY OF THE FOLLOWING ARE TRUE:

• You are not sure what the differences are between Joint Tenancy & Community Property Forms of Title
• You want to know more about Private Annuity Trusts
• Your are a 1099 Employee
• You would like to deduct costs of your family's health care
• You would like to guarantee that your investments can not go down in value
• You are one of the 85% of American Investors who is dissatisfied with their investment advice you are or not receiving.

This workshop will be give by CARL L. DIMEFF, Attorney at law and members of his staff. Mr. Dimeff is a nationally recognized speaker on estate planning and tax planning issues. he has been interviewed by, and quoted in, the Wall Street Journal. His office represents hundreds of small businesses by helping them make the Internal Revenue Code work for their clients rather than against them.

RSVP. SPACE IS LIMITED

Please contact Krasmussen@interorealestate.com

Make A Great Investment Now!!

Hester Apartments

Listing Price $3,000,000

San Jose, Ca

Number of Units: 20

Price per unit: $150,000

CAP Rate: 5.86%

Gross Living Area: 14,768SqFt

Lot Size: 27,010SqFt

Parking: Carports

For more details contact krasmussen@interorealestate.com

Unique Mediterranean Themed Townhome

I came across this extremely unique listing today in Mountain View, Ca that is a must see. Luxuriously renovated 3 bedroom 2.5 bathroom townhome furthering the Cuernavaca Mediterranean theme. This home has had the living room area expanded and a very graceful staircase has been added. The community has a lot to offer with pools, tennis, clubhouse, workout room and good schools. Listing price $1,295,000.

For more details please email my assistant krasmussen@interorealestate.com.

100% occupied shopping center Phoenix

I just toured a very nicely located, fully occupied shopping center in western Phoenix. Adjacent to a hard corner Walgreens and only 1 year old. Offered at $5,105,000 which is a 7.25% cap rate. This is a great 1031 exchange replacement property or a straight purchase. Call me for more details.
Mario Pinedo, CCIM
Intero Real Estate
415-269-6249 cell
408-342-3155 office
Sent via my BlackBerry

Home Buyers Workshop

CCIM Silicon Valley Group On August 21st

CCIM Silicon Valley is hosting a training session on tenant-landlord disputes. If you work in commercial real estate or have clients that own or lease commercial real estate, then this seminar is for you (and them)! What you don’t know can hurt you, financially. The information presented will help you to select better tenants, use better lease agreements, and help mitigate the chances of losing a lot of $$$ in the event things go wrong in the tenant-landlord relationship.

Our guest speaker will be Phillip Vermont who is a partner at Randick O'Dea & Tooliatos, LLP. Phillip has spoken to CCIM in the past and was very well received.

A large part of his practice is the litigation of complex landlord-tenant disputes primarily on behalf of commercial property owners and property managers. He developed the firm's Unlawful Detainer Single Fee Program to better serve property owners. He has handled over 1000 eviction and lease dispute actions.

This one hour training session will be held on Thursday, August 21st at 9am, at California Banking & Trust at 515 N. 1st Street in San Jose, 95112 on the second floor. Thank you to C.S. Lai, VP of Business Banking, for hosting our group.

This session is open to CCIM district members, their clients and guests. Please send an RSVP back to me so we can estimate the number of people that will attend mario@interorealestate.com.

Excellent Place To See A Concert

Mountain Winery in Saratoga Hills is such a unique entertainment experience you must experience. This new amphitheatre is great place to see a concert, and not only do you get to see a concert but they also serve delicious dinner before which makes it extremely convenient. This place is a must recommend place to check out, they have several things they offer besides just seeing a concert you can also enjoy a day of wine tasting, and they even hold events corporate or weddings. Visit Mountain Winery website and see for yourself what a great place this is http://www.mountainwinery.com/index.asp

Horseback Riding In Saratoga Foothills

I recently discovered that I didn't have to drive all the way to Half Moon Bay to go horse back riding. I discovered you can horse back locally just 20 minutes from Downtown San Jose. Garrod Farms Horseback riding in Saratoga Foothills was an awesome experience that I got to enjoy with my two wonderful children. For $40 dollars per person we got to ride for one hour through the Cooper Garrod Vineyards and oak chaparral forests with amazing scenic views and wildlife. Garrod Farms also offers other variety of things such as; Wine tasting, wine rides, lessons, and summer camps. This place was very cool and I didn't have to drive way out the way to enjoy something so fun. I recommend you go!! For more information check out their website http://www.garrodfarms.com/.