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Almaden Homes for sale

Blossom Valley Homes for sale

TheBlossom Valley homes for sale had a median sales price in ZIP code 95123 in San Jose from Oct 10 to Dec 10 was $382,445 based on 205 sales. Compared to the same period one year ago, the median sales price fo Blossom Valley homes for sale decreased 6.8%, or $27,855, and the number of sales decreased 26.5%. Average price per square foot for Blossom Valley homes for sale was $263, a decrease of 4.4% compared to the same period last year. There are currently 190 resale and new homes in ZIP code 95123 The average listing price for homes for sale in 95123 was $345,285 for the week ending Jan 26, which was unchanged compared to the prior week. Other popular ZIP codes in San Jose include 95125 and 95123, with average listing prices of $710,757 and $345,285.

Cambrian Homes for Sale

Cambrian Park homes for sale in ZIP code 95124 in San Jose had a median sales price, from Oct 10 to Dec 10, of $593,500 based on 149 sales. Compared to the same period one year ago, the median sales price for Cambrian Park homes for sale increased 2.4%, or $13,900, and the number of sales decreased 5.1%. Average price per square foot for homes in 95124 was $373, a decrease of 2.9% compared to the same period last year.  The average listing price for homes for sale in Cambrian Park  (zip code 95124) was $604,981 for the week ending Jan 26, which represents a decrease of 0.6%, or $3,451, compared to the prior week. Popular ZIP codes in San Jose include 95125 and 95123, with average listing prices of $710,757 and $345,285.

Los Gatos Homes for sale

Average price per square foot for homes for sale in Los Gatos CA was $514, a decrease of 1% compared to the same period last year. The median sales price for homes for sale in Los Gatos CA for Oct 10 to Dec 10 was $840,000 based on 158 home sales.  Compared to the same period one year ago, the median home sales price increased 4.5%, or $35,804, and the number of home sales decreased 3.1%.  The average listing price for homes for sale in Los Gatos CA was $2,007,652 for the week ending Jan 26, which represents an increase of 0.4%, or $8,013, compared to the prior week.

San Jose Homes for sale

San Jose homes for sale have an average price per square foot of $291, a decrease of 1.4% compared to the same period last year for San Jose homes for sale. The median sales price for homes for sale in San Jose CA for Oct 10 to Dec 10 was $400,000 based on 2,628 home sales. Compared to the same period one year ago, the median home sales price increased 0%, or $0, and the number of home sales decreased 27.6%.   The average listing price for homes for sale in San Jose CA was $468,834 for the week ending Jan 26, which represents a decrease of 0.1%, or $458, compared to the prior week. Some popular neighborhoods for homes for sale in San Jose include Willow Glen and Evergreen, with average listing prices of, respectively, $662,649 and $678,615.

Willow Glen Homes for sale

The median sales price for homes for sale in Willow Glen, San Jose for Oct 10 to Dec 10 was $550,000 based on 227 sales. Compared to the same period one year ago, the median sales price for Willow Glen homes for sale decreased 10.9%, or $67,000, and the number of sales decreased 23.3%. Average price per square foot for Willow Glen was $377, a decrease of 1.8% compared to the same period last year. The average listing price for homes for sale in Willow Glen was $662,649 for the week ending Jan 26, which represents a decrease of 5%, or $34,711, compared to the prior week.

When visiting a nearby Cambrian home I found some fantastic upgrades.  The Super high quality finishes and design choices really stoked my curiosity.  Who does work like this anymore?

This wasn’t the first time I had the chance to see this kind of affordable quality.  A few months before I had the pleasure to witness some outstanding Vanity and Armour choices being installed in a beautiful Los Gatos Estate home.   Matched with the suttle venetian plaster walls in the Master Bath and the  faux Limestone  walls in the Bedroom caused me to want to learn more about this craftsman.

The owners of this Los Gatos Estate Home knew that selling their home today would not meet their personal goal of having a newer construction home.    There just wasn’t enough equity to roll it over.   the best choice:  Do some needed upgrades and stay put.

The craftsman responsible for all this quality, Greg Hendricker, owns the Cambrian Park  home I mentioned before.  Simply put, it’s a live in design studio.   There are too many functional upgrades to mention them all.    The bedroom built in’s are what really inspired me to write this post.

Greg specializes in custom designed built in cabinetry at affordable prices.    Not only does he design them, he builds them and applies the custom finishes to match  specific decor choices.

Greg’s wife Chele has embraced the flexibility in their designs and deserves some credit too.    The kitchen has a hidden refrigerator that would amaze the most discerning decorator/architect.

With the number of custom choices Greg offers,  it is apparent the choice of selling your home or upgrading may not be so difficult. following his free design consultation.

If you are considering upgrading or have thoughts of selling  your Los Gatos or Cambrian Home,  allow me to help.   I will  provide you with a FREE market analysis and guidance to help you determine your best course of action.   In addition to the free analysis,  you can learn more about the long list of contractors I have compiled.    All this with no obligation!  Why wouldn’t you?  click here to view all the homes for sale in Cambrian or  all the homes for sale in Los Gatos can be found here.

Cambrian Park in a Few Words

The common contingency periods are 10- 17 days.  The clock starts at the ratification date of the contract or when your purchase offer is signed and acknowledged by all parties.

• Property Condition

• Financing

• Title Conditions

These are the most common contingencies found in your purchase contract.  They are not required , however your contract should have one or more of these the contingencies.   Which contingencies, is dependent upon the structure of your particular home purchase offer.  The following details their significance to help you avoid the most serious consequences.

Property Condition: This is usually based on reports like the home buyer property inspection, the termite report, roof report and, when applicable, the fireplace or masonry report.

You may order any number of inspections you deem necessary.   Inspections for rural property would be far more extensive than those necessary for a home in the suburbs or condominium.  Raw land (dirt) properties require the most intensive inspection process.  This would include septic or perk, utility soil, geological etc.

Loan Contingency: The loan approval or financing contingency is used to give you time to gain your loan approval.  There is an additional element, the appraisal.  These should be tied together.  If the home you want to buy appraises at a value equal or in excess of your offer you won’t have any problem.

The appraisal contingency can cause a problem if it is incorrectly used in the contract.   What if  the home does not appraise for the amount you offered and you removed your loan contingency?  For example, you received your loan approval subject to the appraisal and you removed your loan contingency.   What if the home appraisal did not meet the offer price you and the seller agreed on?

You would likely find yourself in a pickle.   It would be up to you to find a way to cover the difference in price.   Not a fun place to be.  You could negotiate with the seller and ask for help, pull money out of your pocket or hope you  have another contingency to use to cancel the contract.  I suggest you take measures to prevent that from happening.   Make sure the contract uses language that ties the loan approval and home appraisal together.

appraisal note: The new loan disclosure process, that began last July, requires the lender to disclose your costs and allow you 72 hours to review them (commonly called the GFE  [good faith estimate]).   Often by email (except Wells Fargo).   When that is sent to you by email or if your lender sends by regular mail you simply respond to it and that initiates the appraisal order.

The appraisal then occurs.  The appraised value simply needs to meet the value that you offered for the home.   We then remove appraisal and loan contingency.

Title: The title search is performed by the title company hired to hold escrow and perform it’s duties as a neutral third party.  The  title report is necessary to identify any clouds on title.   Clouds on title are issues that affect ownership.   This would include liens (encumbrances) and ownership rights of others attached to the property.

In addition, it clarifies lot lines, easements and the ownership title chain.    The title company will provide a preliminary title report during the contingency period set forth in your home purchase contract and a final report, an updated version of the preliminary report, is available prior to the transfer of ownership.

Condominium buyers have a few other items to consider and should have these built into any contract.  The most common of these is the Home Owners Association documentation.    This package can be quite extensive.   It covers the contingencies mentioned earlier and other important  items: HOA budget, HOA reserves, HOA meeting minutes covering the past 12 months, articles of incorporation and by laws.

Not as common, yet  becoming very important in today’s atmosphere,  is to determine if the HOA project, sometimes called a PD or PUD, is FHA  approved for FHA lending or VA approved if you are considering a VA loan (veteran’s administration).

Michael Roberts is a licensed California Realtor and real estate investor providing agent representation to home buyers and sellers in the San Fransisco Bay area.

He can be contacted at mroberts@rwnetwork.com or his Website http://www.LosGatosHomesandRealEstateBlog.com

Terry (not her real name) called our office in tears.  Her home was going on the county steps, the following day, to be sold to the highest bidder in a trustee sale.

She did have a little cash in the house in the form of equity.  Not Fair!

Not a fun call by any measure.    After living there for 25 years and raising her family, the lender was foreclosing.   Not a rare story…I know.

This put the whole office in a buzz to solve Terry’s problem.  I called my cash investors, others called attorneys.    My ‘ace in the hole’ investor was in Europe the other was unable to put it all together in such a short time.

It was looking dire by the end of the day.

The only solution turned out to be bankruptcy…according to legal council!  That’s not what this story is about though.  This was the only way to halt the foreclosure and allow Terry some time to get a grip.  After all, she raised her kids in this home, had no job prospects and was on the verge of a serious breakdown.

She needed to hit pause.

Terry was not devoid of responsibility and I won’t defend her position.   She just needed help.

So, the only alternative was bankruptcy.  The search began for an attorney to embrace Terry and get the ball rolling.   This was done in an attempt stop the snowballing effect!  One found,  we began to focus on solutions.

Move ahead a few days….

Terry hired us to meet the required ‘sale of the home‘ that the Trustee ordered.   This is where it went haywire AGAIN!  The Trustee said he had the legal authority to choose and hire a Realtor.  Well, his Realtor was preparing to sell the home for a ridiculously low price (about $100K low).   Leaving Terry with nothing!  The Trustee’s agent claimed his price was based on his ‘expert opinion‘, the current market and the home’s condition.

Not so fast mister!  We appealed to the Judge that this agent was out of his gourd.  Providing some strong fact based data, we were granted the job to sell Terry’s home.  Sorry Mr. Trustee‘s agent (and Mr. Trustee)!

The home was in bad shape, for sure.  The kitchen cabinet doors were falling off, the Master Bath was in need of a Hazardous Materials Team and the yard more resembled a Jungle than a forest meadow with curb appeal.

We jumped in with both feet.  Providing labor, guidance, advice and, in some cases, a late night shoulder for Terry to cry on.

The home sold in 10 days.  The offer was great and provided Terry with $90,000.00 dollars after expenses.

We make money doing this, right?  In this case there was little money left over after all the hours and effort.   It wasn’t what I earned that was rewarding, it’s what I learned…..

I work with the best group of ‘people’ in the world!  They’re not your typical, robotic, scripted salespeople who only look out for themselves…they’re real people – that care!

I almost  forgot the best part.    Once Terry began to see the light at the end of the tunnel she gained enough confidence and piece of mind to secure a great job!

Terry has a bright future on the horizon!

note:  this solution is not for everyone there are short sale and other options to consider

There are no ‘Magic Wand’ solutions if you find yourself against the wall with your mortgage.  Using common sense and a applying pragmatic approach is still the best and most effective way to determine whether you should sell your Los Gatos home or buy a smaller more affordable house in San Jose.

A good rule of thumb is to obtain 3 professional opinions and weigh them one against the other.   The first solution may not be the only solution and… Watch This Video!

California property owners who are over 55 years of age may qualify to transfer the assessed value of their principal residence home sold in one County to their new principal residence they buy in another County.

A copy of the tax bill from the other county and a copy of the applicant’s birth certificate will be required by the County Assessor to be included in the application.

This website provides property tax answers for property owners who are selling and plan to move.

A Copy of the grant deed for the new purchase along with a copy of the closing statement of both the sale and purchase are also required.

Here is a short summary of the eligibility requirements…

• Either the seller, or a spouse residing with the seller, must be at least 55 years of age when the original property is transferred.
• The replacement home must be of equal or lesser “current market value” than the original property.
• The replacement property must be purchased or built (newly constructed) within two years (before or after) the sale of the original property.
• An application must be filed by the owner within the three years following the purchase date, or completion date of new construction, of the sale of the original property.
• The filing is a one-time-only opportunity.  Prop 60/90 cannot be granted if the claimant, or spouse of the claimant has already been granted this relief in the past.
• Prop 60/90 relief includes, but is not limited to: single family residences, condos, units in planned unit developments, cooperative housing, corporation units or lots, community apartment units, mobile homes subject to local real property tax, and owners’ living premises which are a portion of a larger structure.
• You, the taxpayer, are not eligible for this relief until you actually own AND occupy the replacement property as your principle residence

Proposition 90

Proposition 90 allows a homeowner to transfer the base year value of their principal residence in one county to a newly purchased residence in another county providing that certain requirements are met. Only a limited number of counties are participating in Proposition 90.

Proposition 90 Requirements (Santa Clara County):

• The requirements for Proposition 90 in Santa Clara County are the same as for Proposition 60 except for the following:

1.  Effective date: November 9, 1988.
2.  A non-refundable processing fee of $78 is required.

• The effective dates and filing fees vary from county to county. Those property owners interested in transferring the base year value from their principal residence located in Santa Clara County to a newly purchased residence in another county should call that county to make sure that the other county is participating in Proposition 90.
• Applications must be filed in the county where the newly purchased residence is located.
• The following is a list of those counties which have approved Proposition 90 and will currently accept base year value transfers from other counties.

It is essential for you to call the co-operating County to which you wish to relocate.  You will want to verify that they are currently accepting the value transfer under Prop 90 and what their particular requirements are.  For any further questions, the property tax office in Sacramento for all counties in California can be reached by calling (916) 445-4982.

Counties can and should be verified by calling the appropriate number…

• Alameda – (415) 272-3755
• Orange – (714) 834-2746
• San Diego – (619) 531-5507
• San Mateo - (415) 363-4500
• Los Angeles – (213) 974-3101
• Santa Clara – (408) 299-4347
• Ventura – (805) 654-2181

Assessor Real Property – General Questions, Property valuations and Propositions 3, 8, 60, 90
70 West Hedding St., East Wing
5th Floor
San Jose, CA 95110
Phone: 408-299-5300
Email: RP@asr.sccgov.org

Staging – 5 Easy Ways to Sell  Your  Home For More Money

Thinking about putting your home on the market this spring?  Are you going to be a home seller or just another host of a Los Gatos ‘home for sale’?  It’s never too early to start planning for your upcoming  home for sale.  And there’s a lot to think about.  Perhaps one of the most crucial pieces to finding that perfect buyer is staging your home for sale properly.  And that means…..de-cluttering.

Having a lot of clutter lying around the house tends to tell prospective buyers that “this house is your place, not theirs”…..never a good message to send.  Removing clutter will not only make your home appear clean, well maintained, and move-in ready, but will also give you the added benefit of helping you relax after a stressful day of work.  Here are seven tips on how to de-clutter your home.

1. Prepare for a de-cluttering marathon.  This is a big, sometimes emotionally draining task and is best tackled in small bites.  You’ll want to gather some de-cluttering tools before you begin.   Garbage bags, boxes, and dusting cloths can be most helpful.  If you find yourself having trouble staying organized throughout the process you may want to start three piles labeled “throw out”, “put away”, and “charity.”  This approach will keep you from throwing out things you want to save, and saving things you want to throw out.

2. Throw out old, unused stuff that tends to find itself on countertops and shelving such as junk mail, bills, receipts, etc….  Outdated paperwork can also find its way into drawers and closets.  Potential buyers want to see San Jose homes for sale that have lots of counter space, not your mail or last Sunday’s paper.  So don’t let the junk mail keep you from receiving an offer.

3. Sort through closets to find extra storage space.  If your closets are overflowing with “stuff”, it may be time to do some closet purging.  Potential buyers love to see storage space when they open closets.  If the buyer’s eye goes directly to the boxes, cloths and clutter, they won’t notice all the great storage space you have.  Overflowing closets also have the habit of telling buyers that your home doesn’t have enough storage.  But not to worry, there is an easy fix to the full closet…..  If you haven’t used something in a year, throw it out.

4. Clean off book shelves to give your room an open, lighter feeling.  Again, buyers are looking for a Los Gatos home that has lots of storage space and if your shelving is packed with stuff, buyers will assume your home doesn’t have enough storage.  Maintaining well organized, half-full book shelves also gives the appearance of space and can make a room feel larger than it actually is.  And don’t forget to pack up the majority of your personal pictures when staging a home for sale.  You want potential buyers to see themselves in your home.
5. Maintaining clear kitchen countertops has the potential to visually double the size of your kitchen.  Always a good thing.  The golden rule for countertops is to have no more than two appliances sitting on the counter.  Los Gatos homes for sale that feature vast expanses of countertop space will have a competitive advantage in today’s buyer’s market.  And it would be a shame to miss out on an offer because kitchen clutter overshadowed your fabulous countertop space.

Then you are on your way to the 26  seller tips.

And last, but not least, celebrate!  If you’ve managed to de-clutter your entire home, then you deserve a pat on the back.  You’ve just completed the most inexpensive remodel of your home possible.  Potential buyers will see the value in your work and you will, quite possibly, be rewarded with a higher offer!

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Do you own a HUD-FHA financed home, and need to do a Short Sale? Here is a summary of the requirements to perform an FHA-insured HUD shortsale or “Pre-Foreclosure” Sale:

1. You must be delinquent 31 days or more delinquent at the time of sale.
2. You must list the property with an un-related Licensed Real Estate Broker
3. You must actively market the property for four months (up to six).For the first 30 days of marketing, the short sale lender (mortgagee) may only approve offers that will result in a minimum net sale proceeds of 88% of the “as-is” appraised Fair Market Value (FMV). During the next 30 days of marketing, the lender may only approve offers that will result in minimum net sale proceeds of 86% of the “as-is” appraised FMV. For the rest of the marketing time (60 days), the lender may only approve offers that will result in minimum net sale proceeds of 84% of the “as-is” appraised FMV.
4. The property must be an owner-occupied, except for cases of job transfer, death, divorce, job loss
5. There should be written proof of your decrease in income showing inability to pay the mortgage, job loss, etc.
6. HUD will pay up to 1% of buyer’s mortgage as part of closing costs if the new mortgage is also FHA, plus reasonable “seller” costs
7. HUD allows 6% Realtor commission
8. HUD will not pay for Home Warranties, points or lender’s title insurance
9. You must get approval to participate in the HUD Pre-Foreclosure Sale Program in advance
10. Upon acceptance into the program, you will be given Approval To Participate Form which will outline program restrictions

There are a number of basic short sale faqs not addressed here.   This HUD guideline sets some of the story straight though.    For more FAQs read this.