Santa Clara Valley Living

1598 Lloyd Way, Mountain View

Address: 1598 Lloyd Way, Mountain View
Beds: 3
Baths: 2
Living Area: 1700 Sqft.
Lot Area: 6000 Sqft.

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Tags: my listings

333 Santana Row #214, Sold for $515K.  1 Bedroom 1.5 Bath loft with catwalk, popout, large back patio, and 2 parking spots, great deal.

This short sale transaction just closed last week. For those of you who who are considering buying a short sale understand that the most important figures in the transaction are the negotiators, the listing agent, and the buyers agent, and the most important quality they must all poses is diligence.

Short sales are all about paperwork whether the paper work is the short sale package, lender addenda they need to be completed correctly or to the negotiators satisfaction and they need to be submitted in a timely fashion. Its my contention that a short sale can close quickly in 6 weeks, as long as the agents and negotiator are diligently meeting the negotiators request and submitting the paperwork in a timely fashion.

This particular short sale had two loans which made the agent’s diligence even more important and crucial. You have to satisfy the paperwork for two loans, but the complex issue is that the 2nd loan approval cannot be granted until the first is granted. Once the first loan has short sale approval they will offer funds to the second, the agent must find out from the 2nd loan what amount they will request in order to release their lien, and do that before the 1st loan approval expires.

With all the confusion and uncertainty its incredible that these transactions even close, but they do and its my impression that they are not that bad, and do close. The only frustration I feel is the uncertainty and the possibility of being thrown out of contract by a higher offer from another buyer. This can easily happen, be sure to read your addenda and understand the nature of your contract.

In the end because of the buyer’s patience, she got a great deal on this loft. It was really a great property, and I really enjoyed the feeling of being in this property.

Tags: my listings, Santa Clara Valley Lofts, santana row deforest, Short Sales

3581 Earl Drive, Santa Clara

Street: 3581 Earl Drive
City: Santa Clara
Bedrooms: 3
Bathrooms: 2
Price: $650,000
Size: 1240 Sqft.
Lot: 6500 Sqft.

Another wonderful home in a quiet Santa Clara neighborhood. Earl Drive is a quiet street in Lawrence Meadows. These seller’s have taken meticulous care of this home. The home has a seperate family room, dual paned windows, automatic gararage door, bonus room, and a spacious lot.

The owner has placed special care to put in some nice features such as the two front bay windows, exterior lighting and exterior outlets. I really like this property because of the warmth and care that has been given, I feel it will make a great home for some lucky family.
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3581 Earl Drive Property Flyer

Tags: my listings, santa clara home, santa clara homes

Spacious home designed for two families in the Lynbrook Area of West San Jose.

1015 Avondale Street

 

Street: 1015 Avondale Street
City: San Jose
Bedrooms: 7
Bathrooms: 5
Price: $1,500,000
Size: 3,700 Sqft.
Lot: 10,000 Sqft.

Truly a rare property in the Lynbrook area for a large family. This home has been in the family for over 50 years. Generations of the same family have enjoyed this large expansive home with it’s 7 bedrooms and 5 bathrooms.

The home also features 4 living areas and two kitchen areas, one of which is a large gourmet kitchen with beautiful wood cabinetry and granite slab counters. The kitchen features a 5 burner professional gas cooktop, high powered hood vent, large kitchen sink and separate vegetable sink with individual garbage disposals. Take advantage of the designer Sub Zero wine cooler fridge and built-in GE-Monogram Refrigerator.

A entertainer’s dream this large great room looks out to a spacious backyard with elevated flagstone patio, jacuzzi, and all beautifully landscaped. An ideal property for any large family. Top Schools: Meyerholtz Elementary, Miller Middle, & Lynbrook High.

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Tags: cupertino real estate, cupertino schools, my listings, san jose

2070 Columbus Place

Street: 2720 Columbus Place
City: Santa Clara
Bedrooms: 4
Bathrooms: 2
Price: $585,000
Size: 1330 Sqft.
Lot: 6000 Sqft.

Another wonderful home in a quiet Santa Clara neighborhood. Columbus is a quiet street in the east side of Darvon Park. These seller’s have take meticulous care of this home. The home has an upgraded kitchen, dual paned windows, a newer roof, refinished floors, updated bathrooms, central heating and cool, and overall well built home. We have had a lot of interest in just 2 days, and already an confirmed offer. The Santa Clara market has really began to heat up.

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2720 Columbus Place – Santa Clara – Property Flyer

Tags: my listings, santa clara homes

Just listed, this home in the Lawrence Meadows neighborhood of Santa Clara features a comfortable floor plan. The living room is spacious and features a fireplace. Many have removed the wall between the ktichen and this room to make it larger and more open. This home also features a seperate family room that is spacious and overlooks the back yard. The room is large enough to incorporate a living space and formal dining area for the family.

Bathrooms have been remodeled with new tile floors and cultered marble enclosures. New vanity and pedestal sink with new hardware, fans, and fixtures. The kitchen was remodeled some years back but features quality wood cabinetry and all new appliances. Also a durable Armstrong vinyl floor with a natural stone look.

Througout the house you will notice beautifully refinished hardwood floors

The garage is finished and clean, the slab is intact with no major cracks. Laundry facilities are in the garage as well as a roll up garage door and automatic openor.

A large cottonwood tree that dominated the back yard was removed and left for the new owners to landscape.

Overall this is a quality house with comfortable and spacious living areas in a quiet and respectful neighborhood.

Street: 2164 Nobili Avenue.
City: Santa Clara
Bedrooms: 3
Bathrooms: 2
Price: $605,000
Size:1420 Sqft.
Lot: 6175 Sqft.

2164 Nobili Avenue – Santa Clara – Property Flyer

Tags: my listings, santa clara home, santa clara homes

Immaculate home in Santa Clara’s desirable Forest Park neighborhood. This home features 4 bedrooms 2 and a half baths with with 1810 Sqft. of living space and a spacious 8300 Sqft. lot. The home also features a newer roof, copper plumbing, dual paned windows, wall to wall carpeting, a granite kitchen, spacious back yard, updated baths, and much more.

Street: 3041 Pruneridge Ave.
City: Santa Clara
Bedrooms: 4
Bathrooms: 2.5
Price: $819,000
Size:1810 Sqft.
Lot: 8300 Sqft.

Property Flyer: 3041 Pruneridge Ave. – Santa Clara – Property Flyer

Tags: my listings

3449 Maroun Place

San Jose, CA 95148

4 Bedroom 2.5 Bath

2,022 Sqft. of Living Area

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maroun-property-flyer-vinicius-brasil

Tags: my listings

This immaculate home, located in sought after Evergreen Hills, offers the ultimate in refined sophistication. The well-designed living spaces radiate with elegance and style. A private master suite, three additional bedrooms, two-and-a-half baths, dramatic ceilings, and walls of windows are just a few of the highlights.

Tags: my listings, santa clara county open homes

Buyers who use FHA financing soon will be able to use their $8,000 tax credits for settlement fees, escrow charges, higher down payments or to “buy down” the interest rate.

The Obama administration has put out the official word: Starting soon, first-time home buyers nationwide will be able to turn their $8,000 federal tax credits into cash for use at closing if they use Federal Housing Administration mortgage financing.

But in its final guidelines to lenders and buyers issued May 29, the Department of Housing and Urban Development clarified that buyers obtaining FHA loans through private lenders would have to invest at least some of their own funds — whether from personal savings or gifts from relatives — in the form of a minimum 3.5% down payment.

In other words, you’ll need equity in the house to participate. This won’t be a zero-down plan, with one exception: If you obtain your FHA loan through one of about 10 state housing agency “tax credit monetization” programs, you’ll be allowed to pay for your entire down payment with the help of a bridge loan provided by the agency.

Those bridge loans generally are low-interest or no-interest short-term second liens secured by the property, and convert into second mortgages if they are not paid off with the proceeds of the tax credit.

For FHA lender-supplied cash advances, you’ll be able to use the $8,000 tax credit — or whatever-size credit you qualify to receive — for settlement fees, escrow charges, higher down payments or to “buy down” your interest rate to cut monthly payments.
How will this all work in practical terms? How do you apply? Here’s a quick guide:

To start, you’ll need to qualify as a first-time buyer under the generous definition permitted by Congress — that is, you cannot have owned a principal residence during the previous three years, and your household gross income cannot exceed $95,000 for single taxpayers or $170,000 for married couples filing jointly.

To get the process rolling, you’ll have to write a contract on a house you can afford to buy and apply for a mortgage through an FHA-approved lender. There are more than 12,000 lenders with that designation. Large banks or bank-affiliated mortgage lenders are more likely to be geared up for the program in the near future, according to industry experts. Home builders, who have advocated credit-monetization programs for months, are likely to be major participants. The tax credit program requires all eligible purchases be closed no later than Nov. 30.

Besides the usual mortgage application information, the lender is likely to require some extra paperwork, based on FHA guidelines:

* A filled-out IRS Form 5405, which is your request to the federal government to send you a tax credit check. You can file an amendment to your 2008 return and get the credit within a matter of weeks, or you can file for it on your 2009 taxes. Most buyers are expected to opt for the amended return route. Form 5405 is available for download at www.irs.gov.

* Proof that you have no outstanding judgments, liens, unpaid taxes or other obligations that could reduce or eliminate the tax credit you’re seeking.

* Confirmation from your employer that you are not subject to wage garnishments, which could also affect the amount of the credit.

Your lender will be strictly limited on what it can charge for providing you tax credit money in advance. According to FHA guidelines, fees must be reasonable and nominal — generally no more than 2.5% of the expected tax credit. For example, if you’re in line to receive the full $8,000 credit, that would mean the most you could be charged for the cash in advance typically would be $200.

A senior HUD official said that the agency wanted to keep these fees as low as feasible to avoid abuses or gouging, and that HUD would be monitoring transactions to make sure participating lenders were adhering to the guidelines.

Tags: first time home buyer program, tax credit home buyer