Let us look at the Sunnnyvale Real Estate market from July 2008 to January 2009. The inventory dropped from 187 to 150. A month of July 2008 was sold 62 homes and January this year sold only 28 homes. The average Sunnyvale homes dropped from $851,510 to $676,263  The mediam price dropped from $875K to 579K. Those numbers told us the market is slowing down. It takes longer to sell a home.

Grace Keng, Silicon Valley real estate agent,  member of the Silicon Valley Association of Realtors (SILVAR) and memberships in the National Association of Realtors, (NAR),
the California Association of Realtors, (CAR) and PhD of Realtor - Certified Residential Specialist (CRS).

Sunnyvale Bank Owned homeI just found out a great Sunnyvale Bank owned home or REO home at

Sunnyvale just on the market as February 12, 2009.  It is a 4 bedrooms, 3 bath and2 garage with about 1832 sf and 2 story home. Now I will believe there is a gem in REO home.  Some buyers thought there must be some thing wrong with bank owned home. I don’t think so. I do see you have to work with an experienced Silicon Valley Realtor who understands buy or sell a REO home. It is more then ever the buyers need to be aware.The buyer needs to hire an inspector to inspect the home because the bank seller will not and can not give out the seller disclosure. The realtor needs to provide the buyer a written visual inspection report about any visual issues the realtor had found.  Another red flag will be city permit. Is there an non permitted bathroom? I have a buyer almost going to purchase a Sunnyvale bank owned property. We found out that there are additions done without permit and the city knew about it. In another words, the lender will not offer a home like that.

The Fannie Mae has sent out a new update on February 6 2009, to allow the investors to own up to 10 investment properties. Wow! It will start March 1, 2009 to replace to old guide line of 4 properties. In anther words, the investors and 2^nd home buyers can purchase up to 10 investment properties. 1). The borrowers has to purchase those invest properties on or after March 1, 2009.2) The Borrowers must maintain a credit score FICO  at least 720. The maximum L/V to be 70% to 75%.3). The borrowers cannot did not file the bankruptcy or foreclosure. The borrowers do not delinquencies of 30 days or more within a year.

With the new updates it will be a perfect time to load up investment properties.

1).  There are still many REO homes, Short sales and distress sales in

 2). The Silicon Valley rental market is still strong. Due to the side effect of foreclosures is climbing that there more renters then ever need to rent. From the rental survey sources of  Marcus & Millichap Research Services, Real Facts Online. It is still a landlord’s market. 

*Buildings with five or more units. Average rent includes units that range from studios to four-bedrooms. 

Grace Keng, Silicon Valley real estate agent,  member of the Silicon Valley Association of Realtors (SILVAR) and memberships in the National Association of Realtors, (NAR),
the California Association of Realtors, (CAR) and PhD of Realtor - Certified Residential Specialist (CRS).

 If you are selling a Silicon Valley home. It is very importment to price your home based on the current real estate market not the market of 6 months ago. The seller who chased the down market could cost you. I suggest the seller to follow the simple steps:

1). The 1^st step find out what is the current silicon Valley real estate market?

2). The 2^nd step price the home accordingly.

3). The 3^rd step do everything you can to make the house sellable. Do you have a dripping faucet? Overgrown trees? Or pet smell.

I use the CDNX image of the Canadian Venture Exchange from www.zealLLC.com represent the stock market goes up and down just like real estate.

 (Bordueaux photo is from it’s web page)

Many buyers asked me how to find new homes? Yes! the Brand New homes.

You may check out the local Newspaper: San Jose Mercury News real estate section, NewHomeSource.com , or contact your local realtor who is specialize the area. I know at least 3 new homes projects:

1). Oak park in Cupertino: They are condos right on the De Anza Blvd. near 280 for around $600,000. There are 8 floor plans from 1 bedroom to 3 bedrooms.

2). Cherry Orchard in Sant Clara: It is off Homestead Rd near Lawrence Expressway. There are 14 single family homes. The price range is from $799,888 to $849,888.

3). Bordeaux in Sunnyvale: It is a large townhouse project by KB homes which is a 80 units 3 levels townhouses project. It is located  near  Evelyn Ave and Fairoak Ave. The price start from $561,000.

4). 1244 Poplar Av. Sunnyvale: There are 3 brand new homes. It will be finished around February 20 2009. It is near El Camino Real and Lawrence Expressway.

5). 831, 835, 855 Monroe St. Santa Clara: There are 3 brand new homes from the price of $699,950 to $739,500.

If you are looking to buy new Silicon Valley homes, you may contact me:

GraceKeng1@gmail.com.

Grace Keng, Silicon Valley real estate agent,  creator of www.GraceKeng.com , member of the Silicon Valley Association of Realtors (SILVAR) and memberships in the National Association of Realtors, (NAR),
the California Association of Realtors, (CAR) and PhD of Realtor - Certified Residential Specialist (CRS).

Have you think how to decorate your home to be romantic home?

Happy Valentine’s Day! The Valentine day will be a perfect day to find a romantic home. 

She managed to change a 1000 sf in  Campbell 4 plex apartment to be a beautiful French villa. Cindy Kihn-Santiago  is not a professional interior decorator by all means. She is a 48-year-old single mother of two kids who loves gardening, decorating, knitting, cooking and drawing. She shares her passion at the blogs of  my romantic home  .    After posting a photo on the network’s Rate My Space, the HGTV has found her also.   Cindy’s apartment was used as an HGTV inspiration for a couple who wanted a romantic bedroom. JCPenney handed her a $500 shopping spree for the home decor.Earlier this week she told her audience that she is hoping to land a spot on a new HGTV show, “HGTV Designer for a Day,” to work along with a host to make over a room.

The www.lookiloos.com did a story of her. If you look this web site you can find our local Silicon Valley realtors pay $75.00 to buy a spot to advertising a listing as long as the listing is alive. The aboved photo is Cindy’s kitchen window which is the courtesy from today’s  San Jose Mercury News .

source from www.reil.com

Grace Keng, Silicon Valley real estate agent,  member of the Silicon Valley Association of Realtors (SILVAR) and memberships in the National Association of Realtors, (NAR),
the California Association of Realtors, (CAR) and PhD of Realtor - Certified Residential Specialist (CRS).