Excellent location in the Villa's, just walking distance to Santana Row's upscale shops and restaurants. Very nice sized 3 bedroom/2.5 bath with large living and dining room. Very clean and bright home. Good sized fenced and landscaped rear yard. We are currently tracking this excellent bank owned deal listed for $724,000. If you have additonal questions please contact my assistant krasmussen@interorealestate.com.

South Lake Tahoe Bank Owned Homes

I just took a trip up to south shore Lake Tahoe to see the inventory of bank owned homes. There are some very nice deals up there. My focus was on the sub $400,000 price range, single family homes all near Stateline, Heavenly Ski Resort and the lake. Of course, everything in south shore meets these requirements. There are very nice homes selling at or near $200 per square foot prices. Some that take a bit more work are in the $150 per square foot range. These homes are selling significantly below what the market was a year ago ($300 per square foot range - with many homes still listed at those prices). If you have an opportunity to invest in this market, you will be very happy a few years from now. Let me know if you want to see some of the standout opportunities that I saw.

Home Buyers Workshop Thursday, January 15th

Peninsula Investment Forum - January 27, 2009

Don't miss out on the Peninsula Investment Forum on January 27, 2009. To find out more information just click the flyer above.

Great Bank Owned Homes for First Time Buyers

Great opportunity for first time home buyer or investor! Charming Cambrian home in a wonderful neighborhood. Close to all services including schools, parks, shopping and transportation. Corner lot, 4 bedroom/2 bathroom house! Recently remodeled kitchen with granite countertops, hardwood floors, dual pane windows, recessed lighting,newer electrical panels . Bank owned. List price $449,900.

Nice 3 bedroom 2 bath bank owned Cambrian home with an extremely low listing price. This home has updates throughout, very close to schools, shopping and freeways. List price $378,900.

Willow Glen Bank Owned Duplex

Spacious Willow Glen duplex for the price of a single family home. Live in one and rent out the other! Unit #1 3 bedroom/2 bathroom, upgraded, Unit #2 is a 2 bedroom/1 bathroom. Each unit has a fireplace and laundry facility. This home is just walking distance to banks, shopping, restaurants, schools and churches. Don't let this one pass you by. List price $589,000.

Santa Clara County Market Update Week Ending 1/1/09

Here is the Santa Clara County market update week ending 1/1/2009. To view larger picture of diagrams please click on the picture below.

Bay Area Apartment Brokers Forum

Group: Bay Area Apartment Brokers Forum - Established 1986 - (23 Years)
Guest Speaker: Kari Noomen-WaMu - J.P.Morgan Chase - The Noomen Team
Topic: Financing Multi-Housing Properties2009
Date: Wednesday, January 14, 2008 - 8 AM
Place: First American Exchange 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 - WaMu - J. P. Morgan Chase
Sponsor: Mary Kay Kennedy - First American Exchange

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
Feb. 11, 2009 Larry Souza - Bay Area Multi-Housing Overview 2009
March 11, 2009 Ric Russell - The Future of Multi-Housing Brokerage 2009

Happy New Year's Eve!

This year has been....____________. Fill in the blank for your most relevant description. I am sure we are all very glad to wrap up 2008. Home prices have dropped dramatically, the economy is hurting, friends have been laid off, bailouts, bank closures, investment houses disappeared, etc. etc. etc. Yuck!

And then I look at the things that I cherish. My kids, Max & Vivienne, now 10 years old. My lovely "significant other" with a smile that won't quit. My mom, grandma and other family members. My friends, coworkers, and the far flung supporters of my life and our community (from local to global). These "assets" never lose their value. In fact, they become more precious every day. I hope you have wonderful people in your life too.

It's time to be thankful for what we have and to look forward to what 2009 will bring. I wish you all a wonderful evening to wrap up this year and an awesome new year. May it be the best you can hope for. Happy New Years:-)

New Milpitas Listing

Great low pricing for 5 bedroom/2.5 bath bank-owned property!This home is 5227 sq. ft. lot, 1bedroom/1bath on 1st level, hardwood & tile floors, high ceilings in family room, very spacious backyard, open floor plan. Great neighborhood, adjacent to Milpitas Montessori school yard. Close to shopping and Hwy. 680. List price $599,845

Bank Owned 4-plex Listings In Silicon Valley

Here is a short list of some interesting bank owned REO fourplexes in the South Bay. The 5+ unit apartment market is very healthy because financing was based on the building's net operating income. The fourplex market has had the same hits that the single family sub-prime market had. So, this is where the deals are:

$869,875 1850 SOUTHWEST EXPRESSWAY, San Jose, CA 95126, 4,339 square feet
$799,900 3829 UNDERWOOD DR, San Jose, CA 95117, 3,986 square feet
$708,100 1407 CALLE ORIENTE, Milpitas, CA 95035, 2,944 square feet
$650,000 188 GRAMERCY PLACE, San Jose, CA 95116, 3,206 square feet
$529,900 1352 CARNELIAN DRIVE, San Jose, CA 95122, 3,214 square feet

Let's take advantage of the great rental market and the softness in the 4plex market.

We are tracking over 40 fourplexes in the valley alone!

Bank Owned Almaden Valley Home

Very gorgeous Almaden Valley bank owned home that has been updated throughout with remodeled kitchen and baths with new appliances, cabinets, and granite vanities. The backyard has a beautiful large in ground pool, fire pit, boat and RV parking. Excellent schools and neighborhood. List price $799,900. Please contact krasmussen@interorealestate.com for more information.

Santa Clara County Market Trend Week Ending 12/29/08

Please click on the below spreadsheets to view larger pictures of the Santa Clara County weekly stats.

30 year fixed rate near 5%

Conforming rates for a 30 year fixed were at 5.375% with zero points on Friday. This is a payment of $5.60 per $1,000 borrowed. If you pay one point, then your rate is 4.875% or a payment of $5.29 per $1,000 borrowed. This is a great time to refinance into a historically low rate.

Need a Lender For Your Rental Properties

Many investors are not able to take advantage of this great rental investment market. The reason is an arbitrary new rule that many banks have imposed. Most lenders are not making new loans to borrowers that have 4 mortgages over their whole portfolio. Heck, I have some clients with 40+ mortgages. All of those loans were taken out before this credit clamp down. We have researched and have found a good lender who is willing to lend with no limit on the number of loans. Yes, they are strict as to cash flow, debt to income, FICO, etc. And for a strong investor, this lender is ready to step up.

The interest rates would be about 5.5% full adjusted. Please call or email me and I can set you up with our great loan broker who has access to this lender.

Beautiful Willow Glen Home

Beautiful 4 bedroom, 2.5 bath Willowglen home, with open floor plan, nice size kitchen with center island, great for entertaining. Cozy family room with fireplace. Private backyard, and great neighborhood. List price $749,000.

Great Bank Owned Deal!

Very nice bank owned Blossom Hill home with an in ground pool a new remodeled kitchen with granite counter tops. This home consists of 4 bedrooms 2.5 bathrooms, family room with fireplace, breakfast nook, living room and dining room. Very nice size home of 2096 sq ft, with a lot size of 5663 sq ft. List Price $682,500

Just On The Market Bank Owned Campbell Home

Very new listing, just went on the market today and what a great deal it is. A bank owned 3 bedroom 2 bathroom spacious single family home located in lovely Campbell. The kitchen has a separate range top with newer counter and cabinets. Fireplace in living room that has added comfort and coziness to the home. For more information please contact krasmussen@interorealestate.com.

Recently "REDUCED" Cambrian Home

Great 4 bedroom/2 bath home in a great neighborhood with good schools and a lot of home for the price. This home is a bank owned and originally listed for $639,900 and recently reduced to $574,900. Spacious updated kitchen and large separate family room with fireplace. Come see for yourself!!

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!!