Feng Shui Issues in Selling Homes
on Nov 14, 2009 in Real Estate Ramblings Buyer's agent called me today, thrilled about my new listing. Her clients have been waiting for a townhome in that complex to come available. She even said they will write an offer this weekend once they see the inside. Then the agent asked me: Wh...

Real Estate on it's Head in Silicon Valley
on Nov 13, 2009 in Short Sales Buyer Strategies The Economy Bank Owned Real Estate Ramblings Bank REOs For a bank owned home in Silicon Valley - buyers should offer 10% over asking and better be "all cash" in order to beat the competition.For a "normal" sale - buyers can offer 5-10% below asking and get favorable responses.For a short sale - buyers ca...

Home Buyer Tax Credits
on Nov 11, 2009 in Real Estate Tax Implications TAX CREDIT OVERVIEWWho Gets What?First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the...

Silicon Valley Turkey Trot 2009
on Nov 8, 2009 in Local Events I love this race! Great way to pre-offset the gluttony of Thanksgiving - run a fun, flat, enjoyable 6 miles through downtown San Jose, Naglee Park and the Rose Garden. The 10K run finishes well running from The Alameda @ Race Street to the Shark Ta...

Duplex Short Sale San Jose - Oakridge Mall
on Nov 8, 2009 in Short Sales Local Residential Investments The acceptance of short sale properties is becoming the norm. There is a very nice duplex by Westfield Oakridge Mall which was put on the market 4 days ago. There are now 4 offers in hand and the listing agent is submitting the best one to the bank...

United Commercial Bank seized by FDIC and sold to East West Bank
on Nov 8, 2009 in commercial The Economy Foreclosures One of the largest banks in the US focusing on Asian American lending was seized this weekend by the FDIC. This is the 120th bank to fail this year. East West Bank, with a similar Asian American focus was chosen by the FDIC to acquire UCB's assets,...

Wells Fargo Short Sale Department Wins My Respect!
on Nov 5, 2009 in Short Sales I thought I was sunk with a short sale listing that I took just 6 days before the trustee sale date on the courthouse steps in San Jose. I had to get this done so that the owner could process a short sale instead of a foreclosure. I listed the prop...

Why Wells Fargo bought Wachovia and not Washington Mutual
on Nov 5, 2009 in Short Sales The Economy Real Estate Ramblings Great insight into why Wells Fargo bought Wachovia. I just read this article as I was searching for ways to get my client's Wells Fargo short sale approved. The banking industry of course is very influential to real estate and knowing why banks do...

Proposition 60 Information 55 and over - Santa Clara County
on Nov 4, 2009 in Real Estate Tax Implications As per SCCGOV.org site:Proposition 60 allows homeowners 55 years of age and older to transfer the base year value of their principal residence to a newly purchased residence in the same county, providing that certain requirements are met.The requirem...

Short Sale Townhouse Willow Glen $515,000 San Jose
on Nov 3, 2009 in Short Sales Local Residential Investments Townhouses Best schools - Booksin Elementary, Willow Glen Middle and Willow Glen High. 2 bedrooms, 2.5 baths, two story townhouse in quiet complex off Malone and Bird. 1290 square feet. 1 car attached garage plus one car space in complex. Motivated sellers. Gr...