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Archive | May, 2008

De-Clutter is key of staging home to sell

Posted on 25 May 2008 by gracekeng

Clutter-free interiors allow potential home buyers to see all of the home can offer — resulting in a shorter sales and a higher selling price. The fewer items there are in a home, the easier it is for a home shopper to visualize the space of their own.  I pick up some good declutter tips from the PODS. Over 80 % real estate agents agree with de-clutter homes helps the sells but only 30% of the listing agents were actually de-clutter their listings.  Some sellers are serious about selling you should go over with your home to de-clutter them.

Offer these easy decluttering tips to home owners:

1. If an item hasn’t been used in three months, box it up and take it offsite.

2. Limit items in closets and drawers to make them seem more spacious.

3. Remove excess and or worn furniture to create more room. The old files, books and memorabilia should be stored away from the house. You could rent the a mini storage to store them.

4. Remove excess and or worn furniture to create more room.

5. Pack away off-season clothes. Buyers value storage. Don’t just stash items in the basement or the garage - take them offsite.

6. Remove excess items from decks, driveways and the yard, including kids toys and pool supplies

7. Park away additonal car or cars you don’t drive often.

Don’t foget to maintain the de-cluttered home during the home is on the market to sell.

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San Jose is the number 4th of the top 10 recession-proof cities.

Posted on 20 May 2008 by gracekeng

San Jose curtsey of © Shutterstock

 I found an interesting article of the -Top 10 recession proof cities from the forbes.com . The City of

San Jose is the #4 of the top recession proof cities. They used the following 3 sources to create the 10 recession proof cities.

        1). The unemployment data supplied by the U.S. Bureau of Labor Statistics for the year ending in February 2008 to see which areas are most adding or subtracting jobs. Next, we looked at the BLS data on job growth in non-farm payrolls, through February 2008.

        2). The median home price data from the National Association of Realtors—from the fourth quarter of 2006 to the fourth quarter of 2007–to see which areas posted the largest annual gains. Our data don’t account for the impact of declining sales in the first several months of this year.

         3).The numbers were adjusted using data from a November 2007 report, “U.S. Metro Economies: The Mortgage Crisis,” by the U.S. Conference of Mayors. It lists each city’s estimated gross metropolitan product growth by projecting how rising foreclosures and falling home prices would affect overall levels of productivity in local economies

“And in the

San Jose area, the median home sale price is over $830,000. That’s 11% higher than it was in the fourth quarter of 2006, helping to land the area at No. 4 on our list. Problem is, that growth has since cooled, and it remains to be seen whether pricey homes coupled with a 5.3% unemployment rate will cause trouble for homeowners this year. “

     I don’t know how the editor found the the

San Jose median price to be $830K. I checked the local real estate information from the

www.reil.com today. It shows the

San Jose median home sale price in 1st quarter of 2008 is $660K vs the 4th quarter of 2006 was $710K. It was dropped 7% dropped rather then 11% increased in price. If we add this new information the

San Jose could be the #1 recession proof cities in U. S.The author ended the article with a comment that If you’re tired of waiting, these might be the best places to go. Yes! It is a good time to buy home in

San Jose.

 

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Lynbrook High school Real Estate Update May 2008

Posted on 13 May 2008 by gracekeng

lynbrook_high.jpgLynbrook High schools area real estate is still in demend.

The rating of this school is 10 out 10 from the greatschools.net.




The Lynbrook High School’s boundry can be found at http://www.lhs.fuhsd.org/school_info/fuhsdzon.htm It is in between the
De Anaza Blvd

&

Lawrence and another 2 roads are 
Bollinger Rd

and Prospect.Now there are 29 homes for sale and 17 of them are pending. The ratio is 58.6 % which is higher than 25 % usually we are considering this area is on the seller’s market. The highest priced home is at





1568 Ardenwood Dr San Jose

. I saw this home about one week ago. It is a brand new home for 3010 sf inside and lot is 6400 sf. It is beautiful home.

It shows a  lot of detailing. The back yard is kind of small. The lowest single family home is located at





6650 Bollinger Rd

for $880K 3/2 and 1264 sf. I remember there are mutiple offers for homes at

Bollinger Rd

at the beginning this year. Both of them are 4 bedrooms and 2 bath and at the same square footage. One is was asking $988K and sold for $1,001,000 and the other one asked $1,049K sold for $994,450.

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How to take advantage of real estate down turn market of 2008?

Posted on 13 May 2008 by gracekeng

My client asked me yesterday that “How can I  take advantage of real estate down turn market of 2008?”

1). Move up to another home:

If you cannot win the over bid  to buy a home at year 2005 or 2007, Don’t worry! Now is your time to move up  to a home with  better schools and or also larger.

2). Buy a mutiple units:

Use the renter’s rent to pay your mortgage. Find one can break even on monthly mortgage. For example: there is a duplex in Sunnyvale 380 Morse Ave Sunnyvale asking for $630K.  It has 3 bedrooms 2 baths in the front and 2 bedrooms 2 baths in the back.It is in a fair condition and it is on a quiet  tree lined street. The buyer can live in one and rent the others. If you can put down $160,000 down payment $470K as loan for 6.125% 30 yrs fix. The monthly payment will be $2892. The back unit could rented for $1500.00 then your own monthly payment will $1392. Don’t forget to check current mortgage with your own lender. Last week I heard this home is pending.

3). Refiance your current jumbo loan:

The new Jumbo conforming is rasied up to $729,000 and last week we can get a jumbo confirming for 6.125% 30 years fix with 0 point.

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Buy foreclosure home

Posted on 01 May 2008 by gracekeng

j04275941.jpg Yesterday I read an article of “No deal for anxious home buyers” by Sue McAllister of the San Jose Mercury news. She mentioned that “more than 900 houses for sale in

Santa Clara

County for $450,000 or less, many home buyers assumed that market was soft and are shocked to find themselves outbid on foreclosed, bank-owned properties in this price range.” There is a Santa Clara 4 bedrooms home asking for $430K. When my buyer tried to put an offer, the agent told us she has one accepted offer and 5 backup offers for over $500K. I don’t agree with Sue’s openion. Some of those foreclosure home purchase price has been dropped for $200K. Do the math… even you have to over bid for $40K it could still be a good deal. I believed there are still alot of deals out there. I think it is important for the buyer to be pre-qualified before writing an offer. Do remember that our slow market is not going to be forever and it is not local either.

I saw  a blog article of how to buy foreclosure home was written  by Norman of myeastbayagent.com

He listed the following 4 steps:

1. Define your strategy.

2. Is your financing in place?

3. Don’t be disapoointed by rejection or failure.

4. Write clean offers, write clean offers, write clean offers.

Of course it is over simplified steps of buying foreclosure home. If you are interested in buying foreclosure home, Please contact me.

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