1st Time Buyer Seminar Dec. 17th

Please come join us tonight for our monthly Home Buyers Workshop seminar. You may bring you client who benefit a great amount of information. We hope to see you there!!

Santa Clara County Market Trend Update

Please click the above spreadsheets to view larger pictures

Country Cottage-Style Bank Owned Home

Very gorgeous Cottage-style bank owned home with nice wood railing porch. Country french kitchen with granite counters, island, and double ovens; updated baths, hardwood floors, crown moldings, two fireplaces, front room bay window with plantation shutters, huge enclosed patio sun room, deck off master bedroom with spa/hot tub. List Price $630,000. San Jose, Ca. For more information contact my assistant krasmussen@interorealestate.com.

Apartments For Sale

Apartments For Sale

9 Units In Great Central Coast Location

Aptos, California

Located on a quiet neighborhood setting in the desirable Seacliff Beach area, the property is just across Highway 1 from Cabrillo College and walking distance to some of the best beaches in Santa Cruz County. This building was built in approximately 1962 and the interior and exterior of the property has been well maintained.

• Asking Price $1,795,000
• Unit Description- The property consists of two-story building with a total of 9 units, 6-2 bedroom/1 ba, 2-1 bedroom/1 ba, & 1 studio
• Improvement Size- 5,578 sq ft
• Lot Size 8,189 sq ft
• Parking- 9 reserved covered spaces in a tuck-under carport

Please contact mario@interorealestate.com for more information.

Mervyn's Bankruptcy Leases Purchased by Kohl's & Forever 21

Good locations trump bad economic times.

I'm leading with the moral of the story. I know that is bass ackward. Although this market is somewhat that way too. So, it makes sense!

Have you seen a Forever 21 store? I have, they do not look like a company that would set up shop in a 80,000 square foot space recently occupied by Mervyn's. Maybe they will take a front corner section and install ice skating or a BMX park in the other 70,000 square feet. Now to be news worthy, F21 expects to widen their product line offerings and step up to a big box presence. I am NOT going to that new store with my daughter anytime soon.

Kohl's I understand. They were head to head competitors with Mervyn's. Although, may I ask, where was Target in this bidding?

The bankruptcy auction of these spaces yielded interesting results. F21 bid on some 70 Mervyn's locations. They walked away with 15. Other bidders were real estate investors. They undoubtedly won some spaces. Which probably will then be offered to the Kohl's and Forever 21 companies.

The auctions were oversubscribed because there was good value in the under- market leases that Mervyn's controlled. As in a previous posting, some of these spaces were at $.20 per foot! Bankruptcies gives us a good vantage point on real estate. Kmart went through the same process years ago. Some sites were swooped up (as in Kohl's first entry into the Bay Area) and other sites sit vacant in the middle of long stretches of highway from here to nowhere. Yes, that is why I like in-fill locations in strong metros. (Hmmm....is that the moral of the story?)

Great Investment 4 Unit Building In Campbell, Ca

Great investment opportunity just minutes away from Santana Row. This is a 4 unit bank owned building with lots of potential. The unit mix consists of 2 and 3 bedrooms units, and totaling in 3986 sq ft on a lot size of 6900 sq ft. List Price $799,900.

Wonderful Santana Row Unit for Sale

This unit has it all - 1 bedroom with den, loft unit, FACING Santana Row, the catwalk too, and no big red X earthquake support beam in the windows. Offered at a great price of $560,000. If you want a perfect location and amenity unit at a steal of a price, let me show you this today!

Excellent Deal in South San Jose

Lovely bank owned home on a quiet cul-de-sac. Great South San Jose location that's close to everything. This 4 bedroom, 2.5 bath is a large private lot with fruit trees, garden area, sparkling pool, covered deck, tool shed, extra parking, & lots more. Lots of interior upgrades & featuring dual pane windows, updated bathrooms, cozy wood burning fireplace, and an updated kitchen. You will love this home. List price $509,900. Please contact my assistant krasmussen@interorealestate.com for more details.

Santa Clara Weekly Stats 12/1/2008

Please click the above picture to view a larger version.

1st Time Buyer Seminar Dec. 17th - Changed the Date

Our monthly home buyer seminar that is usually on the 3rd Thursday of the month has been changed for the month of December. Please see the date below.

Sunnyvale Bank Owned Home

Beautifully remodeled and upgraded home in Sunnyvale. New upgrades include: kitchen cabinets, granite slab counters, kitchen appliances, carpet, bathroom vanity, front door, and many light/plumbing fixtures..More newer upgrades includes: roof, stucco, interior/exterior paint, double pane windows, tile floor, garage door, 6 panel interior doors. This property is bank owned and listed for $479,900. If you have further questions please contact my assistant krasmussen@interorealestate.com

For Sale Small Medical/Dental Building 3,533 Square Feet

Highlights

• $1,350,000
• 5 Units, 1 Vacant
• 4 Occupied Month-to-Month
• Value Added Opportunity
• Owner-User/Investor
• 100% MEDICAL FINANCING
• 0% Down MD, DDS, DO, DCLow 7, 10, 15 Year Fixed Rate15, 20, 25 YR Amortized3-2-1 Prepay PenaltyLoan includes improvements, equipment
  
• LAND: 12,632 SF (.29ac)
• SIZE: 3,533 Sq. Ft.
• BUILDING: Single Story, L Shaped
• PARKING: 24
• BUILT: 1954
• ZONE: R1-8 County

Please contact mario@interorealestate.com for more information

Bay Area Apartment Brokers Forum

Please come join

Group: Bay Area Apartment Brokers Forum - Established 1986 - (22 Years)
Guest Speaker: Robert Meyer, CCIM, MBA-Principal,Realty ExchangeSolutions
Topic: Tenant-In-Common Industry Overview2009
Date: Wednesday, December 10, 2008 - 8 AM
Place: First American Title Company, 1737 North First St., San Jose ---- 4th Floor
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
Jan. 14, 2009 Kari Nooman - Financing Multi-Housing Properties 2009
Feb. 11, 2009 Ric Russell - The Future of Multi-Housing Brokerage 2009
March 11, 2009 Larry Souza - Bay Area Multi-Housing Overview 2009

Santana Row Bank REO for Sale

The Margo building has a great opportunity for a 1 bedroom + den loft unit facing the East Foothills. 1,099 square feet, nice kitchen, very good condition. The parking at the Margo building is preferred over the DeForest building because you have direct elevator access to your floor from the garage. This unit is now bank owned and a very good value at $499,900. Now at this price, I expect over asking price offers which is very common these days on bank REOs. The banks or their listing agents now understand that sub-market pricing brings them fast sales. Call me to tour this great unit.

Happy Thanksgiving - Time to Remember and be Grateful

After a year of wonder, a year of gut-wrenching markets, trials, tribulations and more.... please everyone take the time to reflect and be grateful for what we have. Look around. Sometimes they don't appear evident - There are people who care about you, people who support you, carry you through the hard times, sometimes even without recognition. Thank the guy who cleans your office, your mailman, the receptionist at the front desk (as nutty as Corrine may be!) - thank your parents (I wish they are still alive) your siblings, your children, friends and any other loved one, here or there, alive or passed on. All these people make up the world that YOU live in. Everyone needs a hug and a short word of acknowledgement. Time to smile on them as they have been smiling on you this whole year. So, hold hands this Thanksgiving and be happy to be here, amidst all that we have.

If you want to give back in a great way today - please click on the link for Team in Training to help in the cure for Blood Cancers: http://pages.teamintraining.org/sj/lavatri09/jpham My good friend is running a triathlon to A. have a better butt and B. to support the research. Please give what you can. Thanks All!!! :-)

REO SEMINAR 12/11....'Unlock Hidden Wealth'

Unlock Hidden Wealth

Investing in Foreclosures, Bank Owned and Short Sale Properties

Join us for the FREE siminar and discover the "inside sercrets" of buying foreclosures.

• Exclusive access to bank owned inventory
• Great deals for first time home buyers and investors
• Learn how to profit from bank owned properties
• Positive cash flow on single family homes
• Strategies to get your offer accepted by the bank
• Special financing with 3.5% down payment

FREE EVENT

Thursday, Decemeber 11th

6:30 p.m. - 8:00 p.m.

10275 N. De Anza Blvd

Cupertino, Ca 95014

R.S.V.P. 408-342-8644

Real Estate Investment Software Seminar

Please look at this website: http://www.erealinvestor.com/

Mike Genstil, the CEO of eRealinvestor will be hosting a free presentation of his very impressive real estate investment analysis software in San Francisco a week from next Monday. Real estate investors are welcome to come and demo the software. Also, included for those who attend will be a 3 month free use of the service!

Where: 410 Townsend, San Francisco
Date and Time: December 8, 2008, 7pm-8pm - time to be confirmed shortly*

And... pizza and drinks...!

Please email me at mario@interorealestate.com to RSVP and to get the confirmation time sent to you.

Santa Clara County Weekly Stats, Week 11/25/2008

San Jose Bay Area Apartment Marketing Meeting for Real Estate Agents

Bay Area Apartment Brokers Forum
MARKETING MEETING Guest Speaker Monthly

DATE: Second Wednesday of Each Month
LOCATION: First American Exchange or Title Building
1737 N First Street
San Jose, CA
AGENDA:
8:00am Start
Guest Speaker
Property Presentations
Have - Wants
9:30 MEETING ADJOURNS

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.
Minimum purchase price of $750,000.

Since 1986, the Bay Area Apartment Broker Forum has met to discuss multi-family invesetments in Silicon Valley.

Mervyn's Bankruptcy Leases for Sale

One of Mervyn's greatest assets is the leaseholds it has in prime retail locations in Arizona, California, Nevada, Utah, New Mexico and Texas. These leases have value because most of them are significantly under market and some are held for decades into the future. The fast approaching bid deadline is currently scheduled for December 5, 2008. For sale are 154 leases in the 6 states. A couple Bay Area leases are highlighted below:

375 N. Capitol, San Jose, 70,000 sqft, through 2020, rent $9.85 per year

749 E. Calaveras Blvd, Milpitas, 75,000 sqft, through 2041, rent $18.51 per year

1500 Del Monte Center, Monterey, 81,000 sqft, through 2040, rent $1.22 per year

950 W. Hamilton Ave, Campbell, 75,000 sqft, through 2019, rent $2.21 per year

350 Showers Drive, Mountain View, 64,000 sqft, through 2010, rent $2.55 per year

2675 Geary Blvd, San Francisco, 90,000 sqft, through 2047, rent $24.95 per year

880 Mowry Ave, Newark, 82,000 sqft, through 2049, rent $12.23 per year

Yes those rents are very low - take the Monterey building for example, they are paying approximately TEN CENTS per foot per month and they have control of the building for another 32 years!

If you want to make an offer on any of these. Give me a call ASAP.