380 Hillsdale Ave., Santa Clara

Immaculate Santa Clara home in Westwood Oaks neighborhood in Santa Clara. This home is updated and well maintained and features refinished hardwood floors, updated bathrooms, new fixtures, and a spacious family room.  This home is also situated in the Cupertino School district and features Eisenhower Elementary, Hyde Middle, and Cupertino High.

Street: 380 Hillsdale Avenue
City: Santa Clara
Bedrooms: 3
Bathrooms: 2
Price: $849,000
Size: 1,689 Sqft.
Lot: 6,000 Sqft.
Schools: Cupertino Schools : Eisenhower, Hyde, Cupertino High
Virtual Tour: http://www.380Hillsdale.com
Property Flyer: 380 Hillsdale Ave. Flyer by Vinicius Brasil

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I just closed the sale on this Santa Clara home this past week.  My clients have two children and their home was set up to be more conducive to accommodating the children and being comfortable than showing the potential beauty of the home.  Like most sellers they wanted to sell for the highest price the market would produce.

They took my advice and were willing to do some important updates to the home such as granite counter tops in the kitchen and bathrooms.  The existing carpet was fairly new and they went with neutral and updated paint colors.  The home was built 20 years ago, and features a very functional floor plan with high ceilings, a spacious master suite and an open kitchen layout to the family room.  All we needed to do was de-clutter the space and bring in some suitable furniture to make the home feel more luxurious and appealing through staging.

Meeting with my clients I presented my marketing plan and the range of prices that their home could receive in the current market.  To achieve a price in the top range, I recommended that we do some simple updates like refinishing the hardwood floors, cleaning up the landscaping, and staging the home.  They agreed and we went to work.  I coordinated with the gardener, the handyman, and rented some furniture and personally made some accents to the home with artwork and accessories to give it a professionally staged look while still making it comfortable for the owners.

In the end we were able to sell the home for full price.  Take a look at the slideshow to get an idea of the complete transformation.

3120 Membrillo

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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.
View Larger Map

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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.

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The last few weeks I have been writing about the market conditions around Rivermark, Santa Clara.  Citing a number of short sale homes and condos, at significantly reduced prices.  In the last week there has been a slight shift in the market with increased buyer activity that has resulted in some Rivermark home sales.  Although sales numbers for the year are a bit down and a significant portion of the listings are short sales listings buyers have come out and put up some offers.

This past weekend I showed some properties in the Rivermark and Miraval complex, and 2 of the 7 properties that I intended to show just entered into contract, within the last 2 days.  Now that buyers are recognizing that the market may not fall any further the buying opportunties are being noticed.

For a look at the sales and listings for Rivermark so far this year view the Rivermark Single Family market update.

Rivermark Home Listings and Sales

For a look at the sales and listings for Rivermark Townhomes and Miraval Condos so far this year view the market update.

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	Preview Comments:
3415 Notre Dame Drive, Santa Clara - 3 Bedroom 2 Bath in Killarney Farms - List Price: $735,000	Positives:This Killarney Farms home showed nicely.  The floor plan was very functional and some what open.  The decor was a bit dated, but it was clean and well maintained.  There was a large family room addition off the back that was open and well done.  The back yard was decent size, room sizes were sufficient, and there was a large deck of the side of the house.  Separate family and living areas too. Negatives:A bit dated decor, no master bathroom.  Pool in back had been filled in.
3161 James Court, Santa Clara - Darvon Park - 3 Bedroom 2 Bath - 5600 Sqft. Lot - List Price: $599,000	Positives:This Darvon Park home shows well.  The home is a typical smaller 1200 sqft Santa Clara home.  The decor was a bit dated in some parts of the house.  Bathrooms were updated and Kitchen counter tops changed.  Kitchen still featured old cabinets.  Home was clean and decently maintained.  The back yard featured a doughboy pool, new concrete work, and a shed. Negatives:Smaller home. A slightly dated decor and a large dough boy pool that dominates the back yard.
242 Madrone Avenue, Santa Clara - Forest Park - 4 Bedroom 2.5 Bath - 8,500 Sqft. Lot - List Price: $899,000	Positives: This Mackay built home is located in desireable Forest Park and features Cupertino Schools.  It is situated in a quiet location.  The home also features a large cul-de-sac lot with a large andwide back yard with a grass area and pool area. Negatives: This Forest Park home showed poorly.  The decor was a bit dated and the lack of natural light made the house dark inside.  The family room was small.  There was a foreign odor in the home that smelled like a smoker had lived there.
3725 Daniel Way, Santa Clara - Westwood Oaks - 3 Bedroom 2 Bath - 7,000 Sqft. Lot - LIst Price: $699,000	Positives: This WestwoodOaks home is located on a quiet street in a wonderful location.  It has a pie shaped lot with a large back yard area.  Front yard has low maintenance landscaping.  The exterior of the house appears to be well maintained. Negatives: The home shows poorly and is in poor condition.  No updates have been done in any part of the home.  There is a large brick fireplace and inside BBQ dividing the dining area and living room.
2634 Maplewood Lane, Santa Clara - San Tomas Woods - 4 Bedroom 2.5 Bath 10,000 Sqft. Lot. - List Price: $1,075,000	Positives: San Tomas Woods home in a quiet location.  This home is away from the road noise of Pruneridge andSan Tomas.  The property features a large lot witha wide front footage.  These homes were all semi-custom built homes and have unique floor plans.  The floor plan is functional and room sizes are Home was clean andwell maintained.  Home featured inside laundry. Negatives: Home interior and exterior decor is dated.  The fourth bedroom is away from the other bedrooms near the garage and laundry area, makes a good guest room or office.
147 Cronin Drive, Santa Clara - Maywood- 4 Bedroom 2.5 bath - 7,000 Sqft. Lot - List Price: $920,000	Positives: Another well built Mackay home.  This located in the Maywood area of Santa Clara.  Home features Cupertino Schools.  Its a large home that had a 2nd level addition anda half bath added.  The decor of the home has been updated in good taste.  Back and front yards were well lanscaped, overall well maintained and styled home.  Walking distance to Eisenhower School. Negatives: The 4th bedroom is actually a loft bedroom built on the second level with a spiral staircase access.  Home is also on a semi-busy or trafficked street.
257 Cronin Drive, Santa Clara - Maywood - 3 Bedroom 3 Bath - 6,600 Sqft. Home - List Price: $933,500	Positives: Another well built Mackay home in the Maywood area of Santa Clara.  Home features Cupertino Schools.  Overall condition of the home is good.  Simple and clean updates.  Some years ago someone added a new master bathroom and extended the original bedroom.  The new bathroom is spacious and features a large tub andseparate shower enclosure.  Kitchen was also updated with new cabinets and granite counter tops.  The home also had some appealing landscaping. Negatives: The home is situated on a semi-busy road.  The addition took away about 300 sqft of back yard space.

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New Santa Clara listing to hit the market in quiet desirable Killarney Farms. This home is a 3 bedroom 2 bath home with 2,145 square feet of living space and a 6,272 square feet of lot area.

Home features an open floor plan, with spacious family room, seperate formal living room and dinning room. A spacious 2 car garage, and large bedrooms. List price is $735,000.

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With the economy in it’s current state and the housing market seen as the culprit, you can expect that the government is focusing on stimulating housing and home buying.  As a first time home buyer you are already guaranteed an $8000 tax credit if you purchase between January first and November of 2009.

Here is a local first time home buyer program offered by the City of Santa Clara.  It is a $75,000 dollar second mortgage provided by the city towards the purchase of a home in Santa Clara.  Here are some more details below:

City of Santa Clara 1st Time Home Buyer’s Financing Program

How Does The Financing Program Work?
The Financing Program helps first time home buyers purchase a single-family house, town home, or condominium located in the City of Santa Clara.

Who Is Eligible?
People who have not owned a home in the last three years, People whose annual household income is no greater than 120% of the County’s median income (as calculated based on your household size).

What is the maximum assistance amount?
The maximum City second mortgage is $75,000.

Minimum Down Payment Requirement:
3% of the purchase price, more may be required to qualify

What Are The Terms Of The Second Mortgage?
The City’s second mortgage will be a 20-year loan structured in the following way:
For the first 5 years, the City’s loan will be zero percent interest with no payments;
Starting the sixth year through the twentieth year, the City loan converts to the interest rate of the primary loan, and monthly amortized payments of principal and interest are paid.

Is there any equity share with the city if I sell my home?
No, terms are as above.

What loan programs can I go through? Can I refinance if rates come down?
You can go through any approved conventional 30 year fixed mortgage including FHA or CALHFA for the first mortgage. Yes you can refinance as long as it’s a fixed mortgage and no cash out other than to pay off the city loan.

What kind of interest rate can I expect on the first loan?
The interest rates are market rates determined based on the first mortgage guidelines on credit scores and down payment based on program guidelines.

What is the process to get this program?

1. Get pre-qualified to determine maximum purchase price and loan amount (apply online or request application)
2. Provide supporting income and asset documentation
3. Once your pre-approval letter is issued, go out and look for your home!
4. Once you are in contract to purchase, the escrow period to close will take a normal 30 day time frame to close
    

Schedule of 2006 income limits-120% of median income adjusted to family size:

Household Size Maximum Income

•  1 – $ 88,600
•  2 – $101,300
•  3 – $113,900
•  4 – $126,600
•  5 – $136,700
•  6 – $146,900
•  7 – $157,000

To get started download the prequal application:  santa-clara-first-time-home-buyer-prequal

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3265 MACHADO AVE, SANTA CLARA

Beds: 3
Baths: 2
List Price: $399,900
List Date: 1/28/2009
Lot Size: 5000.00 SF
SqFt: 1078
Age: 54
Year Built: 1955

Neighborhood: Bowers Crest
School District: Santa Clara Unified

Another great deal that being offered by the bank.  $400K will get you a simple 3 bedroom 2 bath home in a nice quiet neighborhood.  This same home sold for around $650K three years ago.  Not much has been done to it, but these homes are relatively inexpensive to update.  They feature small bathrooms, but adequate room sizes.  The 3rd bedroom works well as an office.  The living room is large, and kitchen is a medium sized galley kitchen.  A 2 car garage, and some back yard space make it a simple and functional single family home.  At $400K don’t expect to see this on the market for very long.

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I just got my short sale listing 2122 Ventura Place in Santa Clara in contract.  The sellers and I initially tried to sell the home where the sellers could possible come out clean without a short sale on their record.  As the market deteriorated however, this proved to be an impossible venture and eventually we all agreed that this is the best course.

Now begins the time consuming task of working with the lender, in this case Countrywide Home Loans, to get the short sale approved.  For those of you who are unfamiliar with short sale properties,  short sale occurs when the proceeds from the sale of a home will not cover the loans or liens against the home.  In this situation a seller, in order to sell the home, would have to bring money into closing or negotiate with the lien holders to take less than the amounts owed.  The motivation for the secondary lien holders to negotiate would be to get some money as opposed to none.  In the event of a foreclosure the primary lien holder would take title, and the property would become an REO or Bank Owned. 

In many cases it is to the lender’s benefit to work with a short sale as opposed to waiting for the home to be foreclosed.  This is assuming the seller’s are in default and have stopped paying the mortgage.  This Santa Clara home has only one loan which makes the negotiation much easier than dealing with two two loans and possibly two separate lenders.

Now that I have received an offer I can submit it to the lender to get the short sale approved.  I need to provide the lender a summary of the seller’s monthly earnings and expenses.  In addition the lender will also need a copy of the purchase contract, estimated net-sheet, two months of pay check stubs and 3 months of bank account statements.  This is referred to as the Short Sale Package, and different lenders require different items.  Now that I have submitted the package, I will follow up tomorrow to ensure that they received it in its entirety, and wait for the approval.  I will continue to update this blog as the transaction progresses.

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