Almaden House

Nice Almaden House for 600K only!

2011-11-19T15:52:00.001-08:00

Hey, take a look - we are selling a nice Almaden House in 2 blocks from Guadalupe Elementary for about $600K only! It has 3 bed / 2 bath, open kitchen in the living room, formal dining, large living room, 2 car garage and a swimming pool. Contact Gary 408-772-1720.

No more outstanding debt after the short sale.

2011-07-18T22:35:00.000-07:00

Governor Brown signed SB 458 (Corbett) into law. SB 458 extends the protections of SB 931 (2010), to ensure that any lender that agrees to a short sale must accept the agreed upon short sale payment as payment in full of the outstanding balance of all loans.
Under previous law (SB 931 of 2010), a first mortgage holder could accept an agreed-upon short sale payment as full payment for the outstanding balance of the loan, but unfortunately, the rule did not apply to junior lien holders. SB 458 extends the protections of SB 931 to junior liens.

“The signing of this bill is a victory for California homeowners who have been forced to short sell their home only to find that the lender will pursue them after the short sale closes, and demand an additional payment to subsidize the difference,” said C.A.R. President Beth L. Peerce. “SB 458 brings closure and certainty to the short sale process and ensures that once a lender has agreed to accept a short sale payment on a property, all lienholders – those in first position and in junior positions – will consider the outstanding balance as paid in full and the homeowner will not be held responsible for any additional payments on the property.”

More Almaden houses. 89 more to be precise.

2011-03-31T16:33:00.000-07:00

If you drive through Almaden along Camden Ave, you probably pass intersection with Guadalupe Mines Road (close to intersection with Coleman) without any interest - that road leads to a landfill. You probably do not know that the landfill is quite far away, and if you turned on Guadalupe Mines you would see a very nice residential area on the left side and large, practically empty, lots on the right. The lots on the right side are going to become another nice residential area comprised of 89 homes constructed as a planned development. Click the title of this post - you will see permit application.
Planned development has several advantages. First of all, all houses are beautiful, because they are built by one builder under one plan, and the standard requirements by the city may be not applicable. Second, if the plan is good, the land is used wisely and all houses stay right on the border with the neighbor, so the other side of the lot remains wide open. Next - there is no web of electric and phone/TV wires in the sky, all wires are underground. There may be a community pool. And finally, the street between the houses probably will be private, so nobody can walk/drive on that street without invitation. I know all this, because I live myself in one of such private communities of Almaden houses built by Shapell Industries.

Almaden goes urban.

2011-03-30T22:16:00.000-07:00

If you agree that Almaden border goes along Blossom Hill Road rather than Coleman Ave, than you should know that Almaden is about to take a close look at the urban style of life, like Santana Row for instance. You probably know Cornerstone Community Church with the roof which looks like three semi-spheres - it is next to Wholefoods store, behind dental office on Blossom Hill Road. The owner of the site where the church stays, has formed new corporation - SYWEST DEVELOPMENT - and transferred ownership of the property to it. New entity is created with purpose to re-develop the site completely. The first step has been done - SYWEST filed an application with the city to change the current draft Envision 2040 designation of NCC to Urban Residential.
This short sentence has so much of dramatic changes coming to our understanding of typical Almaden house! Instead of single detached residence on a lot about 8,000-10,000 sq.ft. it is going to be a condo in multi-story building, that's what "Urban Residential" means. You probably noticed several such buildings in downtown San Jose. They call themselves "AXIS", "City Heights", "The 88". I wonder how nice it will be to look in my current backyard from the 20th floor!

What is the boundary of Almaden?

2011-03-30T20:55:00.000-07:00

Well, well, well... We are talking about Almaden, but it turns out there are different points of view what Almaden is. Many people say - it is area in South San Jose covered by postal ZIP code 95120. Is it really?
Here comes an interesting question: does Old Almaden belong to Almaden? I'd say sure it does, despite it's in the zip code 95141, to the South from 95120. The opposite North border of ZIP 95120 goes along Coleman Ave. So if we admit the idea the area equals ZIP code, it means that "ALMADEN plaza" with COSTCO, Red Lobster, Trader Joe's and Tilly's is located outside of Almaden. So is the Oakridge shopping mall with the theaters and shops!
I don't know about you, but having lived here 13 years I believe all those objects comprise the Almaden area. In the North it is urban, on the South it is rural and wild, going to the mountains.

For your convenience, I linked the title of this post with a map of San Jose zip codes on the government's website.

Average home price dropped to the level of 2004!

2011-02-21T13:42:00.000-08:00

The results of last 3 months sales in zip code 95120 show the average price of single family houses dropped to the level of July-September 2004. Can the market reach the level of 2003? Quite possible.

Wireless phone companies do not care about the residents either

2010-12-26T15:14:00.000-08:00

There is another powerful radio antenna being erected in our area. The owners of Camden Business Center located on the corner of Blossom Hill Rd and Camden Ave signed a deal with NSA WIRELESS INC. The wireless communication company is installing "THREE PANEL ANTENNAS AND FIVE MICROWAVE DISHES WITH NEW RF-FRIENDLY ROOF SCREENING AND ASSOCIATED EQUIPMENT ON EXISTING BUILDING". The height of that existing 1 story building is about 15 feet. The transmitting antenna is located on its top, just a little bit above the neighbors residential houses. Folks, you going to be exposed to RF electromagnetic fields all the time inside your homes!

Wireless phone companies do not care about kids!

2010-10-24T20:20:00.000-07:00

T-MOBILE ( Address: 12920 SE 38TH ST BELLEVUE WA 98006) has filed an application to the city of San Jose "to install 1 (one) 60' slimline monopole with 6 (six) antennas with 4 (four) associated cabinets in an existing middle school on 19.89 gross acre site"

Planning Project Manager

Project Review

Open

Jodie Clark

The middle school is Castillero. The address of future antenna is 6384 LEYLAND PARK DR SAN JOSE. Who cares about the electromagnetic fields? Kids are very flexible, they will adapt.

Neighbors, stop this expansion! Call building department 408-535-3555 and object!!! Send them e-mail OnlinePermits@sanjoseca.gov . If you do not act today, tomorrow it will be too late.

Voters, say NO to marijuana!

2010-10-18T08:56:00.000-07:00

Citizens, let's say NO to narcotics. Marijuana is the step one in creation of drug-addicted people. I'm also questioning the measure U by the city of San Jose - impose a tax 10% of gross receipts on marijuana businesses. If we do this, they will stay forever and multiply. How can we cut such good source of revenue! (Yeah, let's sell illegal drugs - even better source).
We better prohibit such type of business completely, as citizens of Campbell did.

Beware: high tension electromagnetic fields!

2010-09-15T09:59:00.000-07:00

Almaden residents close to Almaden Golf and Country Club are in danger: there is a plan to erect a transmitting wireless communication antenna at the end of WEBB CANYON DR . See it here: https://www.sjpermits.org/permits/general/emailpermitquery.asp?permitnum=SP10-037

New subdivision in Almaden: the same or another?

2010-07-21T12:48:00.000-07:00

This is interesting: simultaneously with the application described in the previous post, the Planning Department has got one more at the same address:

Planned Development Permit to implement two PD Zonings for a total of 16 single-family detached residential units. Zoning File # PDC07-064 and PDC08-051.
Contact: Mr Erik Schoennauer, The Schoennauer Company
90 HAWTHORNE WY SAN JOSE CA 95110 Cell: (408)947-7774

So, what is it going to be: 16 houses or 19? Or 16 + 19?

New subdivision in Almaden

2010-07-21T10:24:00.000-07:00

There is going to be more houses in Almaden: the planning department of San Jose considers an application to reconfigure 2 parcels into 19 lots on a 1.78 gross acre site in the R-1-1 residential zoning district. It means: where were 2 houses, there will be 19. The lots will be about 4,000 sq.ft. - much less than usual for Almaden, where majority of the parcels are greater than 8,000 sq.ft.

Location: 16440 Almaden Expresway (next to Redmond Ave).
Engineer: DANNY RAYMOND with V.E.R. CONSULTANTS
Contact phone: (408)834-7889

Almaden House: Tax Credit Extension

2010-06-21T09:31:00.000-07:00

Almaden House: Tax Credit Extension

Tax Credit Extension

2010-06-21T09:27:00.001-07:00

The Senate has passed a bill to give homebuyers another three months to close on their homes and receive tax credits up to $8,000. The Tax Extenders Bill would apply to homebuyers who met the April 30, 2010 deadline with a signed contract to purchase a new or existing primary residence. The amendment would extend the deadline to September 30, 2010 for homebuyers to close on their real estate transaction. The previous deadline was June 30, 2010. The bill now goes to the House of Representatives, where it is expected to pass.

Primary Election tomorrow.

2010-06-07T16:24:00.000-07:00

Tomorrow is the day to make your choice, unless you have already voted by mail. One interesting item is measure 16. From my point of view, this measure, if enacted, makes practically impossible to establish new Community Choice Aggregation program. So I'm going to vote "NO", no doubt. The interesting question remains: does anybody in Almaden receive electric power not from PG&E?

The least expensive house

2010-05-18T23:25:00.001-07:00

Recently a single house on Almaden Road was sold for a record low price $400,000. I believe the almost half an acre lot itself is worth it. And the lucky owner, Michael, received the structure for free. Hope he's got good hands or quite a good deal of money to renovate his property and make it beautiful. Such low price was previously recorded in 2002, for a falling down "bungalow" practically across the road from Michael's house.

Mount Umunhum will become a park!

2010-03-24T19:39:00.000-07:00

I just found out a good news - the landmark visible from every point in Almaden - Mount Umunhum - will be turned into a public park. After the Air Forces left the base on the top of the mountain, they left behind buildings and structures contaminated with asbestos and lead. Mike Honda was able to secure $4,000,000 for cleaning the space and creating a public park. I do not know anything about the time line, though.

If You Don't Buy a House, You're Stupid or Broke

2010-01-22T09:58:00.000-08:00

I just came across this title in mass media, and I absolutely agree with it.

Gary Likhatchev.

Winter came to Almaden

2009-12-07T20:18:00.000-08:00

The winter came this year strong, with real snow - on the top of the mountains it is. In the streets, it was raining heavily. I took my son to Leland High school this morning, and the 1 mile drive took us 30 minutes.

HUD / Congress Hacks Reverse Mortgage Limits by 10%

2009-09-25T10:32:00.000-07:00

We discussed the monies being spent in the stimulus package that went to things like tunnels for turtles, guard rails for dried lakes, rehabs for airports that saw very few customers, repairs to train stations that had been closed for decades and much more, but we never thought that Congress was considering Bills which would make our seniors carry the cost of the HUD reverse mortgage program.

We felt that surely Congress could find the money to help our seniors continue to utilize the HUD Home Equity Conversion Mortgage (HECM or “Heck-um”) program to continue to stay in their homes. Unfortunately, we all were wrong!

Just yesterday a news item came out that we were going to send $36.7Billion in foreign aid to wealthy countries and countries who don’t like us. That’s right, we can find almost $40Billion for countries who are already wealthy or would like to see us fall into the ocean, but we don’t have the money to fund a program that helps our senior homeowners stay in their homes without cutting the benefit amount to those senior homeowners. Our mothers, fathers, grandmothers and grandfathers aren’t as important as the money we will send to North Korea, Cuba, Venezuela, Libya, Bolivia, Russia and others.

HUD announced with Mortgagee Letter 2009-34 that Principal Limit Factors are being changed effective October 1, 2009 to “assist with the viability of the program”.

According to the notice issued by the NRMLA yesterday, reduction of benefits under the program would have left approximately 21% of all the borrowers with too little proceeds to pay off the existing loans on their homes. In other words, more than one fifth of all reverse mortgages done would not have been able to be closed unless the borrowers had additional cash they could bring in to closing!

Everyone, even if you are not a senior yourself, contact your representative at http://www.usa.gov/Contact/Elected.shtml and tell them that you strongly urge them to find a way to fully fund the HUD HECM program and instruct HUD to revert back to the existing benefits so that our seniors do not have to foot the bill by way of reduced benefits.
Hope that the Congress hears from a lot of concerned citizens before it’s too late.

You can see available properties on the go.

2009-07-09T11:09:00.000-07:00

The main website of our company - Weichert.com now is Mobile. It Brings Home Search to the Next Level.

More and more of our clients are using mobile devices such as BlackBerries and iPhones. There's no doubt that "smart phones" are moving from a purely business-related tool to a must-have accessory, and Weichert is poised to help you capture more business via its mobile site that provides homebuyers with access to more than 2 million listings from their phones.

The mobile-compatible version of Weichert.com gives homebuyers the ability to search properties for sale from any cell phone or other portable device with a data plan. The light and streamlined site design ensures a fast load time so on-the-go homebuyers can get the information they want quickly and conveniently.

There is also a "click to call" feature to offer further convenience for buyers conducting their home search from a mobile device. If, at any time while looking at listings, the site visitor wishes to receive more information or set up an appointment to see a property, they can be put in touch with a Weichert sales professional with one simple click.

Cupertino schools are not the best ones.

2009-06-17T08:33:00.000-07:00

Today's news: two Fremont schools - Irvington High and San Jose Mission High - made it into the list of the best nation schools. Congratulations, Fremont! Bye-bye, Cupertino!

"Remember, all real estate is local."

2009-05-08T15:49:00.000-07:00

Recently one of Weichert Realtors said:

"Remember, all real estate is local. You don't watch the weather in Boise, Idaho, to decide what to wear tomorrow, so why watch the national news to make your real estate decisions?"

This is absolutely true! Watch our blog for the freshest news about Almaden Real Estate.

We closed a transaction!

2009-04-30T16:47:00.000-07:00

Hurray - we closed a transaction! This transaction is worth a special note - the story started in 2005. And, take a look what our happy clients write about this:

"If you would like to buy or sell your home - you have to call Irene & Gary.

Why? Let me tell you our story. In 2005 me and my wife tried to buy a house. Irene showed us numerous homes, but we didn't find what we really like. After 2 months of active home hunting, we decided to take a break and Irene offered us kindly to call her whenever we will be ready to restart our home-hunting process. In March 2008, we decided to restart the process and called Irene again. We found Irene working with her husband as a partner and team member. I'm sure we were the most time consuming clients for Irene & Gary. They provided us with very detailed full and useful information about any and all house we had any questions. Most of the information they provided to us was unique and it hard to imagine where they found it for us. The quantity of the papers Irene and Gary have read can be measured in tons. I don't know how to measure their patience and ethics in dealing with us. They are not only true professionals- they are just wonderful people and a joy to deal with.

If you are looking for professional service - call Irene & Gary. If you looking for complete understanding of your needs and desires even in smallest details - call Irene & Gary. Looking for intelligent, well educated knowledgeable agents with nice manners, who really are thinking about your needs first- call Irene & Gary. If you don't like to lose your money and time, if you looking for honest professionals - call Irene and Gary . You will be happy, trust my true experience.

Andrew and Ocsana Girshfeld."

The least expensive home in Almaden

2009-04-21T10:09:00.000-07:00

In January we wrote: "The least expensive home in Almaden offered right now for sale is a nice townhouse on Shelby. Its asking price is $550,000. 3 bed, 2 bath, 23 years old - great deal!"

You know what? That house is back on market with much lower price $505,000! This price pushes it into the category of short sales (when the sale proceeds are not enough to cover the debt to the lenders). Since the lenders will loose some money anyway, we can negotiate with them purchase price $475,000. That will be a GREAT DEAL - last time this house was sold for $675,000. Let your friends know and call us: 1-800-974-HOME.

Point of life. Point of our company.

2009-04-01T15:39:00.000-07:00

Listening to talk radio this morning coming in to work, the topic was European lifestyle versus American. I found it particularly important and pertinent to our current circumstances. This topic happens to hit my personal sweet spot because it touches on some elements I find critical: the point of life, children, money, politics, and Real Estate.

As you may be following, the country is deciding at some collective level whether to follow the European model of higher cost of living in exchange for an increased safety net versus higher level of freedom to succeed or fail which requires and offers a higher level of individual responsibility. As the population ages the opportunity to make up for lost opportunities, forgone choices, and plain ol' mistakes is diminished. How that is handled is more than just about money, it's about choosing the kind of people we want to be.

Of course, Americans want all people to be well fed, live in decent homes, have good educations, get adequate medical care, and live a reasonably good life. Who could argue otherwise? It just gets a little more complicated when someone other than the person involved decides what's desired, what's appropriate, what's enough. As in Europe that situation leads to powerlessness in individuals and, once institutionalized, pointlessness.

So, what is the point of life, really? We are born, we learn stuff, do stuff, and die. If there is no point to life, there's no reason to postpone the pursuit of the good life. And if the good life is assured by the state, then why put forth the extra effort to store enough nuts for yourself and others if someone else will take care of that anyway? Indeed, doing so would just draw attention of the taxing authorities who might take the extra nuts away anyway. No, better to just live life to the fullest for today and enjoy "La Pura Vida"- the good life. Better to focus on the next relaxing vacation than concern yourself with saving for some uncertain future.

Is this some extreme hypothetical point I'm making that is not really a valid question? No. Europeans live for today and don't subordinate today's pleasures for tomorrow's well being. How so? Children. To have a family, young people must postpone for a very long time today's pursuits of career, economics, travel, and personal enrichment for the sake of bringing someone into this uncertain world. Talk about an act of faith! Having children requires the belief that the world will be stable in the future. To pour yourself into another human being for a couple of decades at the expense of personal pleasures is to live an extremely hopeful life. In a high cost society, young people postpone child bearing until they can afford children. The longer the delay, the more the decision moves away from a biological choice and more into sociological one. And what are Europeans collectively deciding? Not to have children! All European nations, including Russia, are not reproducing children at a rate that will replace the population. In two generations, traditional Europeans will be almost extinct. It’s a fact, look it up. It is the ultimate democratic vote on the referendum of life.

I believe the point of life is to live for something worthwhile, to subordinate self to something greater- an idea, a hope, a child. Though the individual is not likely to change the whole world, he can change his world. She can decide to make a stand and live her life in such a way that demonstrates values beyond self indulgence and present pleasures. That idea requires a positive hope that one's efforts will matter and circumstances will, if nothing else, be better for the next generation. In my opinion America provides hope for the future because our current systems imperfectly allow individuals to live a life with hope that our efforts will matter.

My world, the place I have chosen to make my stand and declare who I am and what I’m about is in my family and my extended family of Weichert, Realtors -1 st Team. Weichert, Realtors - 1 st Team is an idea to make some positive changes in the clients' experience of buying and selling Real Estate.

The industry is changing, so are we. I am optimistic, because I believe, and I know many our agents and clients believe, that Weichert, Realtors - 1 st Team is working for a larger idea, not just short term profits. We are working together to make the business a good and fair place to devote our energies.

New Spring in Almaden

2009-03-19T12:25:00.000-07:00

The spring is here. It's in the air, in the smiles, the spring is everywhere.

The price of houses sold in Almaden

2009-03-09T17:35:00.000-07:00

I have a firm opinion - we are back to the price level seen in year 2004. Take a look at the picture below. It's a graph showing the change of average price per square foot of all single family houses in Almaden since 2004.

As you see, in 2004 it started below $400/sq.ft. Then - big jump: you probably remember those crazy days in the first half of 2005 - every listing collected 10-30 offers, buyers competed for the privelledge to buy a house. As a result, the prices rose to $450/sq.ft. and kept growing to the maximum $490/sq.ft. achieved in the 2nd quarter of year 2007. Then slowly, a little bit faster, then even faster, then really fast, the price dropped. It dropped to $410/sq.ft. What is it doing now? The graph shows it goes up again. Yes, it does, but the problem is that the number of houses sold since January 1st 2009 is much fewer than a year ago. It means the market is thin, the buyers are hesitating, waiting for a better deal. It gives me firm believe that by the end of the second calendar quarter we will find the average price of sold houses in Almaden on the same level as it was in the beginning of 2004 - about $380/sq.ft.

Do you have a house to sell? Calculate your outcome: a nice house with 2199 sq.ft. living area will sell for about $835K. Right now, a very nice house on Mountain Quail Cir is offered for sale for $948,000. Its living area is 2372 sq.ft. Do the math - the asking price per sq.ft. is $400 sharp.

The most affordable home in Almaden as of March 5th 2009

2009-03-05T16:47:00.000-08:00

In Almaden today, you can find the following home for the lowest price: a 2 bedr/2 bath 1140 sq.ft. townhouse in the complex next to Safeway on Almaden expressway is offered for $539,000. Well, there is a cheaper single house, but you can not call it home. You would have to spend another 50-80 grand to make it livable. Let's take a look at the townhouse:

Doesn't impress, does it? And the association fee is $310 monthly, what is equal to payments for more than $50,000 mortgage, so the price effectively is about $590K.

You would prefer a single house. No problem. Just be ready for a price tag $659,000 for the least expensive single house on a piece of land 2,500 SqFt - just a little bigger than under the townhouse above.

You would prefer to buy a house on a lot at least 7,000 sq.ft. No problem, just lift the price level to $720,000 and here it is:

Call us 1-800-974-HOME, we will be glad to show you this nice house. It's a good financial deal for you.
The house is 1,845 SqFt on a lot 7,840 SqFt. The asking price per square foot is mere $390, while the average in Almaden is $474.
We will discuss the average price per a square foot of living space in another posting.

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HUGE CREDITS TO HOME-BUYERS

2009-03-04T10:47:00.000-08:00

State Tax Credit FAQ

How much is the state tax credit?
The state tax credit is for $10,000 or 5 percent of the purchase price of a newly built home, whichever is less. The home must be the principal residence of the buyer for at least two years following the purchase, and the sale must close between March 1, 2009 and March 1, 2010.

How does the tax credit work?
• A tax credit of up to $10,000 credit (5 percent of home price or $10,000, whichever is less) for the purchase of a newly constructed, previously unoccupied home.

• Available March 1, 2009, until March 1, 2010, or when funding authority runs out – whichever comes first ($100 million was allocated to program).

• Allocated by the state’s Franchise Tax Board (FTB) on a first-come, first-served basis (details still to be worked out).

• Paid out to home purchasers over three tax years in equal amounts (i.e. $3,333 for 2009, $3,333 for 2010, etc.).

• Purchasers must reside in the home for at least two years.

• There are no income limitations that have to be met by purchasers.

• There is no first-time homebuyer requirement.

• There is no repayment requirement (unless the purchaser sells, rents out, etc., before two years expire).

Complete Information: http://www.ftb.ca.gov/individuals/New_Home_Credit.shtml

Expanded Tax Break Available for 2009 First-Time Homebuyers (Federal)

IR-2009-14, Feb. 25, 2009

WASHINGTON — The Internal Revenue Service announced today that taxpayers who qualify for the first-time homebuyer credit and purchase a home this year before Dec. 1 have a special option available for claiming the tax credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year.

Qualifying taxpayers who buy a home this year before Dec. 1 can get up to $8,000, or $4,000 for married filing separately.

“For first-time homebuyers this year, this special feature can put money in their pockets right now rather than waiting another year to claim the tax credit," said IRS Commissioner Doug Shulman. “This important change gives qualifying homebuyers cash they do not have to pay back.”

The IRS has posted a revised version of Form 5405, First-Time Homebuyer Credit, on IRS.gov. The revised form incorporates provisions from the American Recovery and Reinvestment Act of 2009. The instructions to the revised Form 5405 provide additional information on who can and cannot claim the credit, income limitations and repayment of the credit.

This year, qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.

The amount of the credit begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.

For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase.

The IRS also alerted taxpayers that the new law does not affect people who purchased a home after April 8, 2008, and on or before Dec. 31, 2008. For these taxpayers who are claiming the credit on their 2008 tax returns, the maximum credit remains 10 percent of the purchase price, up to $7,500, or $3,750 for married individuals filing separately. In addition, the credit for these 2008 purchases must be repaid in 15 equal installments over 15 years, beginning with the 2010 tax year.

Complete Information : http://www.irs.gov/newsroom/article/0,,id=204671,00.html

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Viva la Active Market!

2009-02-12T17:52:00.000-08:00

Can you see multiple offers nowadays?

I'd like to tell you what happened two days ago. We found a really nice house for our buyer, performed thorough visual inspection - practically no defects were found. Gary found 2 minor and Irene one. The buyer wrote an offer with our help. And we were struck by the response: "there are 15 offers already submitted. If you want to get into the club - increase yours about 50K".
What is it, year 2005 back? Well, no. But the smart buyers are out there shopping right now for good deals in Almaden and other portions of San Jose. It is time to buy: the prices dropped, the mortgage interest rate is UNBELIEVABLE LOW, IRS is giving away good amount of money to the first time buyers (BTW, it's not going to last forever, this government "promo" is in force till 06/30/2009). And when a good deal turns into great one, many buyers gather all together.
That's exactly what happened. The house will be sold for a fair market price, which is determined as the price which the buyers are willing to pay (and, of course, the seller is willing to accept). It's not the seller, it's not the Realtor who determines that fair market price. It's the market. Viva la Active Market!

About "Viva la ..." The Coldplay's album "Viva la Vida" and its title song won three awards at the 2009 Grammy. Suddenly, we find out that the Rock guitarist Joe Satriani accused Coldplay of copyright infringement in a lawsuit filed in a Los Angeles federal court on 4 December 2008. Satriani claims that the title track, "Viva la Vida", incorporates "substantial original portions" of an instrumental piece he released in 2004 called "If I Could Fly". Satriani is seeking damages and "any and all profits" from the alleged copyright infringement.
Recently our local rock station "106.5 The BONE" aired "If I could Fly". For me, the melody is identical.

Gary.
Weichert, Realtors - 1st Team

Re: Super Bowl Open house

2009-02-04T13:54:00.001-08:00

You know,
We had many visitors during that Sunday openhouse. It's because of our structured Weichert Open House program: we do not just "hold a house open", we actively invite people and actively "SELL THE HOUSE".
Of course, the fact that the house itself is gorgeous also helped :-) Take a look:

And it's offered for very reasonable price - $710,000 only.

Super Bowl day

2009-02-01T15:31:00.000-08:00

Today Irene planned to hold an open house on Phileo Ct - a very nice house on the border of Almaden and Cambrian areas. By midday I realized - it's the SUPER BOWL DAY!!! Nobody will come to you, Irene! Today Pittsburgh Steelers have a great chance to become the only team who won Super Bowl 6 times, and thus beat SF 49ers.

She replied: "Well, holding an open house for me is like a game. The tickets sold and the game will take place regardless shine or rain. And by the way, do you remember who is one of my clients?"
Yes, of course I remember how Irene represented a Director of San Francisco 49ers when his family bought their home.

Go, Irene Borz, go! Good luck!

So, can I buy that Almaden house such cheap?

2009-01-29T19:36:00.000-08:00

It's a known fact - the houses being sold as "short sale" are often offered for very low asking price. One of the bright examples - the Almaden house we described before. The reason is simple - the owners do not care at all for how much the house will be sold, their only goal is to get rid of the mortgage and tax payments. They are loosing all the money they had invested in the house in the form of downpayment and later improvements.
How come? Well, that's the essence of a short sale - the proceeds of the sale would not be enough to pay-off all the debt, even if they sold it for the highest market price. So, when you can not receive ANY money after the sale, why would you care about the price?

"That's great," can say someone who is on hunt for a bargain - "I can buy it really cheap!". Not so fast my friend, hold your horses. There are more parties involved in the transaction besides the seller and buyer. First of all Mr. Lender - like Countrywide, or Bank of America (which owns Countrywide now), or CITI Mortgage, or Wells Fargo (which owns Wachovia bank by now), Chase, Washington Mutual (which do not lend money for mortgages any more) - you name it. Then, there is county tax collector, there is city of San Jose charging 0.33% and county of Santa Clara charging 0.11% of the sale price (we talk here about Almaden House, it is within San Jose), then possibly local HOA if it's a condo or town-house, then title company, then me - your Realtor. All want some money out of the sale proceeds.

The whole deal can be possible only in one case: Mr. Lender receives less money than the seller owes to him, i.e. the bank looses some money. Obviously, in such case the lender is actually the one who decides upon the sale price. You may submit an offer as low as you want, and the seller will accept it. In fact, the seller invites you to submit a very low offer by setting very low asking price. But it doesn't mean that you will buy the property for that price, because you need to receive an approval from Mr. Lender, approval of the loss for him.

It is very important to understand which short sale is doable and which probably not. We have been doing such transactions over 2 years by now, and we can estimate pretty well the amount of the loss the lender would approve. We also can arrange all necessary documents and perform the negotiation with the lender. The amount of approved loss may vary in wide range based on the skills of the Realtor. Especially interesting (read - difficult) deals occur when there are several lenders involved.

Re: the least expensive home in Almaden

2009-01-28T13:06:00.000-08:00

That home may be foreclosed soon. The owner received a notice of default from the lender. This is the last chance to buy it for such low price!

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Re: the least expensive home in Almaden

2009-01-23T09:04:00.000-08:00

Actually, we take it back. The home on Shelby Creek is not offered for the lowest price. There is a listing in "Montanas de Los Gatos" community with unbelievable low price. 2 bedrooms (actually 2 master suites), 2 and 1/2 bath, 1,490sq.ft, huge 2 car garage - all for $450,000!!!

See the description here.

Somebody can argue: it's in zip code 95124, hence it's not in Almaden! We strongly believe that complex belongs to the same area as ZIP 95120. Probably, we should discuss what the boundaries of Almaden are. Yes, the complex is in ZIP 95124, but all its connections are the same as for the houses across Camden Ave.

Well, there is a catch. It's a short sale. We will discuss the handling of short sales later.

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The least expensive home in Almaden

2009-01-20T15:32:00.000-08:00

The least expensive home in Almaden amongst offered right now is a nice townhouse on Shelby. Its asking price is $550,000. 3 bed, 2 bath, 23 years old - great deal!

Take a look at the pictures here

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Today is Presidential Inauguration.

2009-01-20T11:21:00.000-08:00

Today is Presidential Inauguration. And it seems different from many ones before.

All researches on the leadership make a conclusion that one of the most important qualities of a true leader is ability to take other people along their enthusiastic vision of the future.
Here is a quote from TERENCE HUNT, Associated Press writer:
``Stepping into history, Barack Hussein Obama grasped the reins of power as America's first black president on Tuesday, saying the nation must choose "hope over fear, unity of purpose over conflict and discord" to overcome the worst economic crisis since the Great Depression...
Young and untested, Obama is a man of enormous confidence and electrifying oratorical skills. Hopes for Obama are extremely high, suggesting that Americans are willing to give him a long honeymoon to strengthen the economy and lift the financial gloom. ``

On this day, we'd like to remind you the first Inaugural Address by Franklin Delano Roosevelt, from the time of Great Depression. Some paragraphs of that Address sound really appropriate today:

<<... let me assert my firm belief that the only thing we have to fear is fear itself..>>
<< Our greatest primary task is to put people to work.>>
<< ... in our progress toward a resumption of work we require two safeguards against a return of the evils of the old order; there must be a strict supervision of all banking and credits and investments; there must be an end to speculation with other people's money...>>

Franklin D. Roosevelt: First Inaugural Address

Bomb threats - who's making fun?

2009-01-18T15:23:00.000-08:00

Our son Gregory, freshman at Leland High, told me they had interruption of the classes last week, because somebody called in with a bomb threat. The students were immediately directed to the stadium.

- We stood on the soccer field probably more than an hour, while the school was searched. All classes kept together, everything went more organized and calm, than it was the first time.

- When was the first time?

- I think, it was August 29th 2008, the third day of 2008/09 school year. That morning some students got really scared and ran away from school. Amazingly, they were penalized by the Leland High school administration for non-authorized leaving the school premises. I do not think it's fair, because we had not received any instruction what to do in case of emergency.

Interesting fact: before that, a false bomb threat happened about 20 years ago. Now we have two cases within half a year. It's really annoying, I would like if police could find that "joker".

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Some things you probably will NEVER see in Almaden

2009-01-14T08:57:00.000-08:00

In Almaden and entire San Jose, you probably will never see sculptures made of snow, like the ones shown below.


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The temperature here practically always above freezing point. (Let me remind - it is zero degrees from the point of view of Mr. Celsius and 32 degrees from the point of view of Mr. Fahrenheit). Only during the first week of January 2009 we saw some icing on the roofs and frosted cars on the driveways.

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Hello, residents of Almaden!

2009-01-13T13:30:00.000-08:00

This is the start of our blog devoted to Almaden, the community where we live, raise children, do business and try to make our community better.

We begin this blog in hope that you will share your opinion on the topics discussed here. Otherwise, it probably doesn't make sense.

And here is one: Why do you think there are two Starbucks shops within 300 feet from each other on Almaden Center plaza? One is inside Safeway, the other right next to it. Do they benefit us or their own business?