Before                                                                     After

A Santa Clara  investor  flipped a home in 3 months and walked away with profit.This home is 1865 CABRILLO AV, Santa Clara 95050. It was a bank owned home on May 30, 2008 which is an extremely lowed price for $375,250. It was a clean flat-top roof home with 3 bedrooms and 1 bath the 1 car garage converted to another living quarter with living room and 1 bedroom plus1 bath. The lot size is 7140 sf. I showed it to my client. He did not like the add on. Little I know…It sold in 3 days with 38 offers for $382,000 and it closed on July 2 2008. Two months later the house is painted in and out with new window covering. It is back on the market again for $499K on September 4 2008. It is sold again and closed on October 10 for $490,000.

Let me put the dates as follows:

5/30, 2008 listed $375,250

7/2/2008 closed & closed $ 382,000

9/4/2008 listed again $499,000

10/10,2008 sold & closed $490,000

It is pretty good for an investor to walk away $108,000 (before the cost) in short 3 months. I see the investor are flipping the house but the buyers are waiting.If you are have questions, please email or contact me.

Grace Keng, CRS, Silicon Valley, Northern California Real Estate Residential Specialist 408 733-8887

Rated number #2 featured Cupertino Realtor on Activerain.com and Localism.com. California relocation, local events, homeowner information and fun! For more information on Grace Keng Silicon Valley homes

There is an article of “But even real estate in the best Zip Codes are spending longer on the market than in 2007″ from the businessweek.com. The author said that “Houses in Sunnyvale, Calif., home to companies such as Juniper Network (JNPR), AMD (AMD), and Yahoo! (YHOO), are typically on the market for 66 days, making it the fastest selling real estate market in the country. That’s the good news. The bad news is that listings a year ago in the affluent Silicon Valley suburb normally sold after just 31 days on the market. “

I know the single family home takes less then 66 days to close, so I did a Sunnyvale real estate market research and I found out the four facts of Sunnyvale real estate from August 2007 to August 2008.

It takes us that it takes a lot longer then last year to sell a home. It has less homes did get sold. The inventory increased 22% and median sold price dropped 7%. The real estate market source is from www.reil.com

After I wrote the above article,Santa Clara REO and short sale homes for sale 1 of 2,more buyers have asked me for good real estate deal in city of Santa Clara. The good deal here means good valued home for sale.

I will give you my two picks today.

1).2229 Brown Ave Santa Clara, CA asking for
$477,500 with 4 bedrooms and 2 car garage is converted to another rental unit.

The front yard has about 8 grape vines with purple grapes on it also. The back yard needs some work.

2). 2105 MAIN ST, Santa Clara 95050
$384,900 Beds: 3 bedrooms 1 bath. It is a smaller and cozy home. It do need some repairs which reflect for this excellent price for a single family home in city of Santa Clara.

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Two Cupertino almost identical homes but sold for a lot difference in price.

Yes! There are two Cupertino Rancho homes both are located at the same street Wunderlich Dr.

A street with mixed sized of homes some are about 2000 sf for 1.2 millions and the other tiny homes are about $650,000 range.

The 10415 Wunderlich past owner applied the building permit and approved by city of Cupertino for an addition to become a 3 bedrooms and 2 baths. Will this city permit costs $55,000?? I don’t think so.

There is only one Cupertino bank own/REO homes on the market and two Cupertino REO have sold in pending. This home located 10440 JOHNSON AV, Cupertino 95014. It is only 7 years old, 3 bedrooms and 2 baths and two car garage. It is located at the most affordable area Cupertino Rancho Riconada. This area has the excellent Cupertino schools with Hyde Junior High and Cupertino High School. It has light color hardwood flooring through out with open floor plan. It has high ceilings. The kitchen has nice matching colored cabinets and granite counter tops and island. The master suite comes with his/her sinks, jetted tub, and shower. It does need a special attention. The garage door needs adjustment, missing wall lights. There are many other bank owned listings in the surrounding areas such as Sunnyvale, Santa Clara, San Jose and Campbell. The San Jose has the most bank own and short sales homes available. I have another article about the foreclosure homes you may want to read it.

2549 Butch Dr. Gilory CA 95030 5 bedrooms 4+ baths was sold for 2.4 Millions in March 2006.This 3 year new custom home on the hills of Gilroy is bank owned now and the asking price is $1.325 Millions which is about half it was sold in 2005.

Can you picture yourself live in a large home 6207 sf on the lot of 491,792 sq ft for only 1.325 Millions dollars?

It has2 master bedroom suites,beautiful chandeliers almost every rooms , with magnificent foyer,a large swimming w/spa,4 balconies w/mountain &city light view!

If I have the money, I will love to own this mansion.

3347 Cashdan Ct Santa Clara Ca 4 bedrooms 3 baths $484900

Larger lot small homes. The kitchen has been remodeled with granite counter top and newer cabinets. The both baths are redone also. I like the over sided lot with an old tree.

I know it does need new landscape but overall it is a good buy.

1070 MARYANN DR, San Jose 95050 (Santa Clara)
$545,000 Beds: 3 bed(s) Baths: 1 1/2 bath(s) It is located at just the cornor of Lawrence and Benton. It has a fireplace and updated.

2028 LOS PADRES BL, Santa Clara 95050 (Santa Clara)
$499,999 Beds: 3 bed(s) Baths: 2 bath(s) with an open floor plan and 1566 sf.This one is a short sale. If you want to know more about the short sale please check on this blog.

Those two homes are all sold. If you want to see more you can check with