Silicon Valley Real Estate Blog

What is the best way to get short sale listings?

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Thu, 22 Oct 2009 23:17:46 -0500

Does any short sale realtor can share with us how do you get the listings?

I know we can mail postcard, door knocking etc. I like learn from activerainers of how to get the short sale listings,

agentpro247.com

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Wed, 14 Oct 2009 14:02:56 -0500

Does anyone uses the agentpro247.com?

It is a way to find out the property profiles regarding the foreclosure mortgage, ARM reset data.

You can find the owners who may be the leads for the short sale owners. It cost about $30/mo to load 1000 records.

I found there is another two web page you can do it like foreclosureradar.com, You may find more information from the dataquick site www.dataquick.com Both those two sites charge $49/mo.

Anyone has use any of the above web sites to get the owner's data. As the new regulation to the title company's ability to provide us the vital property profiles, we need get the information ourselves. I don't know anyone uses any product? Please let me know.

If you or someone you know is thinking of buying or selling a property in Santa Clara County (Sunnyvale, Cupertino, Saratoga, Mountain View, San Jose), California, please contact me. I offer a free 45 min. consultation. You may email me GraceKeng1@gmail.com for an appoinment.

New listing 1st open house Sat 1:30 PM to 4:30 August 29

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Sat, 29 Aug 2009 12:53:47 -0500

1437 S. Mary Ave., Sunnyvale, CA 94087

•· Beautiful home in Sunnyvale with Cupertino Schools.

•· Approximately 1768 SQFT living space on over 8000 SQFT lot.

•· Built in year 1960.

•· 4 bedrooms, 2 bathrooms, 2 car garages.

•· Dual pane windows in all rooms.

•· Spacious living and family room with gleaming hardwood floor.

•· Central forced heating and central vacuum cleaning system.

•· Skylight in kitchen.

•· New water heater.

•· Nice front and back yards.

•· Powerful ceiling fan to keep the house cool.

•· Termite Section I and roof repair works are done.

•· Great schools: West Valley Elem. (API 930), Cupertino Middle (API 913), and Homestead High (API 840)

•· Close to shopping, park, and work!

•· Located in the heart of Silicon Valley, easy commute with Highway 280 and 85.

Sunnyvale CA current real estate market

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Thu, 06 Aug 2009 15:32:22 -0500

Sunnyvale CA June 2009 Real Estate Market

Posted on 31 July 2009 by gracekeng

What is the current Sunnyvale Ca Real Estate market? If we compare from June 2008 to June 2009, you will find some interesting changes:

1). Home inventory reduced from from last year's 203 to this year 193. The numbers of sold homes has dropped from last year 63 to 59 this year.

2.) The average hoThis June sales price is $762,735 vs last June's ' $918,552. The median sales of June sales price is lower from last year's $898,000 to this year's $755,000 .

3.) Last June took average 35 days to sell a home however this year will need 79 days to sell a home.

This real estate trend is the same as last month. In June of 2009 there are 4.92% less homes inventory and this year there is 6.6 % less the Sunnyvale homes get sold. The average Sunnyvale sales price dropped 16.96% and the Sunnyvale median price homes dropped 13.96% from last June to this June. The above data information came from the www.reil.com.

Cupertino CA June Real Estate Market

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Thu, 06 Aug 2009 15:29:06 -0500

What is the current Cupertino Ca Real Estate market? Let us compare from June 2008 to June 2009 we can see some interesting changes:

1). Home inventory rose this year to 132 from last year's 79. The numbers of sold homes dropped this year to 37 from last year's 38.

2.) The average Cupertino homes sales price is lower this year. This June's sales
price is $1,148,020 vs last June $1,199,084. The median sales of
June 2009 is $1.111,000 which has dropped from last June $1,197,000.

3.) Last June took average 35 days to sell a home but it took 50 days this year.

This real estate trend is the same as last month. In June of 2009
there were 67% more homes for sale and 33% less Cupertino homes
were sold. The average Cupertino sales price dropped 4.25% and the
Cupertino median price homes has dropped 7.18% from last June to this June.
The above data information came from the www.reil.com.

Grace Keng of RE/MAX Real Estate Services DRE#00919545 the members of the National Association of Realtors, (NAR),the California Association of Realtors, (CAR), and the Silicon ValleyAssociation of Realtors, (SILVAR), MLS listings Services, (REIL).

Sunnyvale property value increases

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Thu, 06 Aug 2009 15:25:57 -0500

The left graph shows the median price of Santa Clara county value from July 2008 to July 2009.

Jul-08

$705,000

Jul-09

$605,000

Change

$100,000

Changed

-14%

Sunnyvale property values increased much better than most other cities in the Santa Clara County, according to the annual tax roll released by the office of Santa Clara County assessor, Larry Stone on July 1, 2009. Sunnyvale saw a 4.75 % gain in assessed property values. Only Mountain View saw a higher gain as 6.22% than Sunnyvale.

Each year the county appraisers reassess the value of residential and commercial property. According the deputy to the assessor, David Ginsborg the Sunnyvale property values grew significantly in the form of redevelopment, and the Sunnyvale town Center project,

Ginsborg said:" Assessment values are typically affected by changes in ownership, new construction and property tax reductions when market values fall below assessed values."

This year a significant number of changes in ownership are home in foreclosures and distressed sales. Sunnyvale remained steady because it has older and more established communities. On the other hands, the communities with newly constructed, entry-level homes such as Gilroy, were hit hardest. Ginsborg said, Gilroy had a 9.48% drop which is the most in the county.If you want to read more, you can find it at Sunnyvale sun.

The assessed values has steadily declining for last three years. In 2008, the number of foreclosures in Santa Clara county has gone up fourfold to 6200. Although property assessment is dropping in Santa Clara County, the minor growth in cities like Sunnyvale is significant relative to the rest of California.

Realtor safety week

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Tue, 28 Jul 2009 14:30:46 -0500

The strategy of Buying Bank Owned home

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Mon, 27 Jul 2009 17:38:08 -0500

Buying bank owned homes strategy

This Sunnyvale bank owned home 418 S. Mary Ave was sold quickly with over 20 offers. The asking price is $420,750 and the sold price probably will be over $550,000.

How to buy a good deal of bank owned own homes, you need to follow the following rules:

1). Price and initial deposit. The price is major issue. If you only qualify to buy $430K and try to put an offer to buy a home for the asking price then you will be disappointed. The asking price is like a teaser price which is not the reflect the real price.You need to ask the your agent to run an Comparable Market Analysis which will show the current value that include of homes on the market, pending sales and sold homes in the neighborhood.
The May home's comps shows over $600K with good condition. This home's condition is marginal with non-permitted remodeling work. You need to put a correct purchase price with 3% initial deposit.

2). Contingency period: This the period of time for buyer to inspect the home and find a real estate loan . Don't take longer then 15 days to do those activities.

3). Close the home to be within 30 days after acceptance. The bank usually likes the home to be close within 30 days All cash offer will be the best to them.

Grace Keng of RE/MAX Real Estate Services DRE#00919545 the members of the National Association of Realtors, (NAR),the California Association of Realtors, (CAR), and the Silicon Valley
Association of Realtors, (SILVAR), MLS listings Services, (REIL).

Introduction to Cupertino city of California

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Fri, 24 Jul 2009 18:10:31 -0500

Cupertino is a mid sized city. It is about 45 minutes drive to city of San Francisco. It is close to the heart of Silicon Valley. Cupertino offers a short commute to most high tech firms, including the headquarters of HP, Apple, Trend Micro System, Symantec and Borland. Cupertino has joined Milpitas as the second city in the silicon Valley where the majority of residents is Asian.Cupertino is best renowned for the quality of its schools for good students and teachers with end result of great API scores.

Many schools have won state and national recognition for their academic excellence. The Computer education is one of best part. The Vice President Al Gore once visited theMonta Vista High School and Homestead High was honored at a White House ceremony. While Cupertino schools receive most of the attention, the recreational activities are plentiful as well also.

The city itself offers over 200 activities from cross culture acitivities for different backgrounds to the soccer teams. There are a lot of after-school music programs. Residents enjoy the city events such as the arts and wine festival, Heritage parade , Summer Shakespeare concert, sun down movies , Spring Cherry Blossom festival etc. The Cupertino has 13 parks, a nature preserve, and a racquet club as well as bowling and ice-skating. The local Junior College, De Anza, offers many classes for local community. The Cupertino weather is mild from the winter average temperatures from 50 degrees to summer averages around 80 to 90 degrees.

Cupertino has a wide variety of housing choices. The view homes are more expensive, around 1 to $2 millions in price. The rest city homes are more moderately from a condo of $400k to a single family home for $900,000. This spring I sold a newer Cupertino homes in Seven Spring for over 1.3 millions. While schools receive most of the attention in Cupertino, recreational activities are plentiful as well. Residents enjoy the city events such as the arts and wine festival, Heritage parade and De Anza Days under pleasant skies with winter average temperatures of around 50 degrees and summer averages around 80 degrees. Cupertino is a great place to live!

Tips of buying bank owned homes

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Fri, 24 Jul 2009 17:08:29 -0500

Now it is a buyer's market. the buyer's have a buffet to choose from all kinds of the homes. There are a lot of good deals now I found a good REO (Real Estate Owned) home at 418 S Mary Ave in Sunnyvale asking price is only $420,750. It is a 3 bedrooms 2 baths 2 car garage home. The schools are Cumberland, Sunnyvale Middle, Homestead High. This home is listed by REO group of RE/MAX Real Estate Services. Last spring there was a home at the Mary Ave sold for $692,000. This home is about $270,000 lower then last home. This home is a REO home. What is the tips to buy a REO home?

· Finding a good realtor: A good realtor will help you find the home and assist you to submit the offer.

· Prepare the financial statement: Unless you can pay all cash home then you need a direct lender to write a pre-approval letter . You meet with a few lenders to find out one can offer you the best interest rate and term and just work with one.

· Determine the market value of the home: Ask the realtor to prepare a Market Analysis for this home. You use the current available homes, pending homes and sold within 1 years near by homes. Don't low ball the home. Usually the bank owned home are low. If you think you can still negotiate on top of them you will not get it.

• AS IS condition: Most of the bank owned homes sold "AS IS" condition and without seller's disclosure either. It is very important to allow yourself time to inspect the home before you commit to buy. That means what you see is what you get. The biggest rish of buying "AS IS" condition home: there are hidden damage to the home. It could be the broken foundation, leaky roof, or unpermitted addtion etc. You need to look carefully before you submit an offer.

• Sweeten the deal: You may shorten the inspection period. Offer to pay half the title insurance cost. Make sure the buyer's agent follow what requirement was set up by the listing agent. If the listing agent required using BOA to qualify you, you have to do so. This home a work sheet is required, then your agent has to prepare the work sheet.

Tracking the total Eclipse

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Tue, 21 Jul 2009 16:31:10 -0500

This above image shows the last total solar eclipse, March 29, 2006.

On July 22 2009 you can see the total eclipse in south asia include of India, China and Japan. This web site http://www.shadowandsubstance.com/ explains the location and how it will happen that it very informative. I will definitely watch them on TV and web also. This one will be the longest one.

Rent to Pet Owners to Reduce Vacancies

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Tue, 21 Jul 2009 13:46:26 -0500

Those furry animals can save the property owner's bottom line. The above dog name is my daughter's golden retriver named "Honey". We all love him a lot.

The Pets are an important factor to renters during their apartment search. Nearly 90% of renters who responded to a survey by Apartments.com, said they have a pet and of those that do not, more than half plan to become pet owners within the next year. More than 80% of respondents said a pet-friendly policy played a major role in where they chose to live. About the 60% renters said they would be less likely to rent an apartment requiring a pet deposit and more than half of them said they would pay more than $200 for a pet deposit.

According the San Jose Mercury news that the Silicon Valley's unemployment rate has soared to 11.8% and ths quarter apartment rent has dropped 3.8% to be the biggest declined in the nation. Yes! I do rent to pet owners also.

Cupertino Short sale home under $500K!!

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Mon, 20 Jul 2009 19:08:03 -0500

I found a Cupertino short sale homes asking only $499K today. I rubbed my eyes to see if I come cross a mistake. It is not a mistake! This small 2 bedrooms and one bath fix upper home with over 6000 sf lot. Considering the median sales price of $927,500 for 95014 , this small fixer upper is a steal. A real estate short sale is a type of pre-foreclosure sale in which the lender agrees to sell a property for less than the mortgage owed by the owner.

Yes! This Rancho Rinchonada area of Cupertino home price just like the price durning the year of 2002 or 2003. Accordining the Wikipedia that "Rancho Rinconada is a residential neighborhood in the eastern part of Cupertino, California. It is bordered by Saratoga Creek (just west of Lawrence Expressway), Stevens Creek Boulevard, Miller Road, and Bollinger Road. Cupertino High School, Sedgwick Elementary School, and Hyde Middle School." There are many large newer home up to 1.5 Millions and small home as this one for only $495K. There home owners and flippers built larger homes in this area.

Rancho Rinconda is a unique area. It is the most affordable area in Cupertino . This area has blocks and blocks of inexpensively built homes. As the time goes by some of the larger and newer homes were built in between of those small homes. We all know the value is in the LAND. If you buy this home you can either redevelope or add roomes to it.

Is it Possible to buy a Santa Clara County CA home without downpayment?

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Mon, 20 Jul 2009 18:58:39 -0500

Wow! Is it possible to buy a home without money?
As the loan guide line is tough now, it is very difficult to buy any home without down payment. Today I come across an interesting infromation that city of Santa clara. This city of Santa Clara Below Market Price Housing Program administered by neighborhood housing services silicon valley (NHSSV). It offers a 5 year deffed secondary loan of $125K with zero interest during the deferrment period, for the first time home buyers. You may contact NHSSV for a list of preferred lenders.

The applicants must not exceed the following income limits:

Household of 2 persons = $101,300

Household of 3 persons = $113,900

Household of 4 persons =$126,600

Income limits are based on the total gross before taxs annuyal income per household
You will need the proof of employment, residency and other list of preferred lenders, The applicants must submit a pre-qualification or preapproval letter froma direct lender for a 30 year fixed rate conventional loan.

Cupertino CA Sundown movies series shows 'Panda'

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Mon, 20 Jul 2009 18:44:32 -0500

City of Cupertino’s Cinema of the Sundown series begins July 16 with a showing of Kung Fu Panda. The animated film will be shown outside on big screen at the memorial park amphitheater. The series will continue with showing of Back to the future on July 23 and Hairspray on July 30. All films Begin at 8:30 PM and admission is free. Memorial Park is located at the intersection of Stevens Creek Boul. and Mary Av. You may access to the park is also available from 10185 N. Stelling Rd Cupertino..

Cupertino California Home 95014 for sale

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Sun, 19 Jul 2009 12:22:34 -0500

BEAUTIFULL FLOOR PLAN,
SEP FAMILY ROOM AND DINING ROOM,
PERGO AND MARBLE FLOORS
GRANITE COUNTER TOPS, GAS COOK TOP
CENTRAL A/C, DOUBLE PANE WINDOWS, WET-BAR
GAS SUMMER POOL, WALKING DISTANCE TO ALL TOP SCHOOLS
WALKING DISTANCE TO ALL TOP SCHOOLS:
REGNART ELEMENTARY, KENNEDY MIDDLE, MONTA VISTA HIGH,

11141 BUBB RD, Cupertino 95014 (Cupertino)
OPEN HOUSE Sun July 19th 1:30 to 4:30 PM

50 sound real estate blogging tips

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Tue, 14 Jul 2009 01:23:31 -0500

I just came across this blog from the www.realesatetomato.com about 50 sounds tip of real estate blog which was written by Jim Cronin on July 03, 2009

I particular like the following tips:

1. Near holidays, timely posts can drive HUGE traffic to your blog. Great article on just that phenomena: http://bit.ly/WysfJ Here is that article of firework location near sacramento from Gina

9. Want good SEO content about yourself on your blog? Interview yourself with some keyword rich questions. It'll be fun too You want to have more listings may be you can interview yourself regarding what is your speciality.

14. 2 great locations for FREE and interesting IMAGES for your blog posts: http://cli.gs/DHsj1R and http://cli.gs/RTBRj8

27. End each article with links to related articles. Use descriptive sentences to improve SEO on the link. You'll thank me later.

29. Write with your Ideal Reader in mind. Define them, name them, and then write to them. They will start to hear you.

50. Define your Ideal Reader; Age, Gender, Profession, Income, Needs. Now write your articles to and for him/her.

He used the concept of writing the blogs --beginning with ending mind.If you want attract the move up and move down buyers, you can write the blogs of how to buy and sell a home successfully. How to interview a good listing agent in Silicon Valley which may attract the sellers who are planing to sell.

Mountain View Real Estate Market Trend

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Sat, 11 Jul 2009 01:27:21 -0500

What is the current Mountain View Ca Real Estate market? If we compare from May 2008 to May 2009, you will find some interesting changes:

1). Home inventory rose up from from last year's 56 to this year 86. The numbers of sold homes is the same from last year 31 to 31 this year.

2.) The average Mountain View homes sales price is lower. This May sales price is $931,506 vs last May's ' $1,046,080. The median sales of May 2009 is $890,000 which is dropped from last May's $975,000.

3.) Last May took average 32 days to sell a home however this year will need 53 days to sell a home.

This real estate trend is the same as last month. In May of 2009 there are ?? more home inventory and ?? less inventory in the Mountain View market. The average Mountain View sales price dropped ?? and the Mountain View median price homes dropped ?? from last May to this May. The above data information came from the www.reil.com.

Any home buyers and sellers need a good realtor to help them. If you or someone you know is thinking of buying or selling property in Santa Clara County (Sunnyvale, Cupertino, Saratoga, Mountain View, San Jose), California, please contact me because I offer a free 45 min. consultation to cover the complete local current real estate market. You can email me GraceKeng1@gmail.com

Los Altos Ca Real Estate Market

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Sat, 11 Jul 2009 01:20:53 -0500

This photo is my Los Altos listing - 1456 Ranchita Court Los Altos asking 1.468 Millions and was sold in May 2009.

What is the current Los Altos Calif Real Estate market? If we compare from May 2008 to May 2009, you will find some interesting changes:

1). Home inventory rose up from from last year's 78 to this year 124. The numbers of sold homes has dropped from last year 41 to 22 this year.

2.) The average Los Altos home sales price is lower. This May sales price is $1,560.373 vs last May's ' $1,980.409 The median sales of May 2009 is $1.500,000 which is a drop from last May's $1,738,888.

3.) Last May took average 27 days to sell a home however this year will need 61 days to sell a home.

This real estate trend is the same as last month. In the may of 2009 there are 58.9% more home inventory and 46.3% less the Los Altos homes get sold. The average Los Altos sales price dropped 21.2% and the Los Altos median price homes dropped 13.7% from last May to this May. The above data information came from the www.reil.com.

Any home buyers and sellers need a good realtor to help them. If you or someone you know is thinking of buying or selling property in Santa Clara County (Sunnyvale, Cupertino, Saratoga, Mountain View, San Jose), California, please contact me because I offer a free 45 min. consultation to cover an over all current real estate market. You can email me GraceKeng1@gmail.com

Santa Clara County of Ca current Real Estate Market Trend

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Sat, 11 Jul 2009 01:17:00 -0500

What is the current Santa Clara county Ca Real Estate market? If we compare from May 2008 to May 2009, you will find some interesting changes:

1). Home inventory dropped from from last year's 6130 to this year 4445 . The numbers of sold homes increased from last year 874 to 987 this year.

2.) The average Santa Clara County homes sales price is lower. This May sales price is $645,774 vs last May's ' $976,263. The median sales of May 2009 is $490,000 which is dropped from last May's $772,500.

3.) Last May took average 71 days to sell a home however this year will need 86 days to sell a home.

This real estate trend is the same as last month. In the may of 2009 there are 27.48% less home in inventory and 12.92% more the Santa Clara County homes get sold. The average Santa Clara County sales price dropped 33.8% and the Santa Clara County median price homes dropped 36.56% from last May to this May. We have more homes sold and less inventory for sale form year to year. Both Median and average home price dropped about 1/3 year to year. The above data information came from the www.reil.com.

Any home buyers and sellers really need a good realtor to help them. If you or someone you know is thinking of buying or selling property in Santa Clara County (Sunnyvale, Santa Clara County, Saratoga, Mountain View, San Jose), California, please contact me because I offer a free 45 min. consultation to cover a complete current real estate market. You can email me GraceKeng1@gmail.com

Sunnyvale current real estate market

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Sat, 11 Jul 2009 01:09:55 -0500

Sunnyvale CA Real Estate Market -May 2009

What is the current Sunnyvale Ca Real Estate market? If we compare from May 2008 to May 2009, you will find some interesting changes:

1). Home inventory reduced from from last year's 200 to this year 188. The numbers of sold homes has dropped from last year 68 to 36 this year.

2.) The average homes sales price is lower. This May sales price is $681,266 vs last May's ' $926,252. The median sales of May 2009 is $745,550 which is dropped from last May's $930,000.

3.) Last May took average 36 days to sell a home however this year will need 51 days to sell a home.

This real estate trend is the same as last month. In the may of 2009 there are 1% less home inventory and 50% less the Sunnyvale homes get sold. The average Sunnyvale sales price dropped 26% and the Sunnyvale median price homes dropped 19.8 from last May to this May. The above data information came from the www.reil.com.

Sunnyvale Downtown Summer Music Series - Celebrating 10 years

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Sat, 11 Jul 2009 01:04:46 -0500

SDA Music Summer Series -Celebrating 10 Years

July 08 - The Vintage Band (r&b, funk, pop & jazz)
July 15 - Silicon Valley House Rockers (rhythm & blues)
July 22 - Sage (70's old school) presented by Sunnyvale
Chamber of Commerce
July 29 - Too Smooth (pop, dance, soul)
Aug. 05- MamaLuke! (classic rock)
Aug. 12- T.Y.T (rhythm & blues/funk/latin)
Aug. 19- Pacific Standard Time (70's funk/r&b)
Aug. 26- Flashback (classic rock, surf)

I've gone the Wednesday Sunnyvale Summer Music Series in the past. It's pretty fun. Small - just the one strip of Murphy Ave. in Downtown Sunnyvale. Music is cool...cover bands hitman. It all starts at 5:30 pm and the music starts @ 6 PM to 8 PM on every Wednesday evenings. A couple of food booths and a lot of the restaurants have outdoor seating. I seated at Firehouse outdoor seating before. You have pretty good view of everything. The beer average is about $4 a cup or you can bring your own chairs and eat outdoors. I usually go to a couple of them each year. See you all tonight there!

Santa Clara and San Mateo County half year Inventory Report 2009

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Sat, 11 Jul 2009 00:57:56 -0500

Santa Clara and San Mateo County half year Inventory Report 2009


Santa Clara County, CA Average price Median price Days on market
Single Family under $1M	$607,736	$600,000	82
Single Family over $1M	$2,150,771	$1,625,000	76
Condo/Townhome under $600K	$349,001	$340,000	81
Condo/Townhome over $600K	$827,820	$749,880	82
San Mateo County, CA
Single Family under $1M	$668,223	$680,000	80
Single Family over $1M	$2,432,311	$1,688,000	74
Condo/Townhome under $600K	$398,632	$400,000	72
Condo/Townhome over $600K	$874,685	$749,000	77

Every home buyers and sellers need a good realtor to help them. If you or someone you know is thinking of buying or selling property in Santa Clara County ( Sunnyvale, Cupertino, Saratoga, Moutain View, San jose..), California, please contact me because I offer a free 45 min. consultation to cover the complete local current real estate market. You can email me GraceKeng1@gmail.com

Cupertino California recent Real Estate Market

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Sat, 11 Jul 2009 00:54:21 -0500

Posted on 29 June 2009 by gracekeng

What is the current Cupertino Ca Real Estate market? If we compare from May 2008 to May 2009 which has shown some interesting changes:

1). Home inventory rose up from this year from last year's 81 to this year 127. The numbers of sold homes has dropped from last year 46 to 31 this year.

2.) The average Cupertino homes sales price is lower. This May sales price is $1,112,518 vs last May's ' $1,299,204. The median sales of May 2009 is $1.062,000 which is dropped from last May's $1,250,000.

3.) Last May took average 27 days to sell a home however this year will need 61 days to sell a home.

This real estate trend is the same as last month. In the may of 2009 there are 70% more home inventory and 30% less the Cupertino homes get sold. The average Cupertino sales price dropped 13% and the Cupertino median price homes dropped 16% from last May to this May. The above data information came from the www.reil.com.

California Association of Realtors opposes Proposal to withhold on business tax

Grace Keng, CRS, e-pro (RE/MAX Real Estate Services) — Wed, 08 Jul 2009 22:57:13 -0500

After I wrote the article of stop withhold business tax today, I found the C.A.R. has sent the members this red alert about C.A.R. OPPOSES Proposal to Force Over Withholding on Independent Contractors.
Please Call Your Assembly Member or Senator Today!

C.A.R. is opposing a proposal to force those making payments to independent contractors to withhold 3%. C.A.R. opposes this FORCED OVER WITHHOLDING because it unfairly singles out independent contractors to share the burden of the state's budget troubles and it fails to address the problems in California's budgeting process.

One bill that included the withholding proposal was passed by the Legislature, but vetoed by Governor Schwarzenegger lJune 30th. Afterwords, yet another version of the same legislation was approved by the state Senate and may be considered by the Assembly shortly.

Action Item
C.A.R. has emailed a personalized Red Alert to all REALTORS® who reside in legislative districts represented by a Democrat, asking them to contact their legislators to oppose this proposal. C.A.R. is NOT asking members to contact Republican legislators because they already oppose the idea.

Please look for Red Alerts from, "C.A.R. Government Affairs Team" received Tuesday, June 30th with the subject line: "Assembly Red Alert: Help Stop Over Withholding!" or "Senate Red Alert: Help Stop Over Withholding!"

If you received both Red Alerts, please respond to both because it means Democratic legislators represent you in BOTH the state Assembly and Senate.

If you have not received these alerts, and you believe you reside in districts represented by Democrats, please call the following numbers and use your NRDS ID to be connected to your legislator's office.

For the Senate: 1-800-961-3302
For the Assembly: 1-800-672-3135

Again, enter your NRDS ID when directed so you will be connected to the correct legislator.

Here's how the proposal would work:

When an agent closes a transaction, they are typically paid their commission by their broker. Now, the broker would need to withhold 3% of the commission and pay it to the Franchise Tax Board (FTB). Agents would still pay their normal quarterly estimated income tax payments to the FTB in addition to the withholding. When the agent files their state income tax return the following April, they will deduct the withholdings along with the quarterly estimated tax payments from their tax liability and, in theory, receive a refund for the 3% that was withheld. This allows California to earn interest on your money!

C.A.R. has emailed a personalized Red Alert to all REALTORS® who reside in legislative districts represented by a Democrat, asking them to contact their legislators to oppose this proposal

Background
Tuesday evening of this week the Assembly and the Senate approved one version of this proposal in one of the many pieces of legislation comprising the budget; however, Governor Schwarzenegger vetoed the bill. The Legislature will need to send him new versions of the budget in order to end the stalemate.

Our goal is make sure the next version of the state budget DOES NOT INCLUDE THE INEDEPENDENT CONTRACTOR WITHHOLDING PROPOSAL.

Talking Points
While it is understood that the state is facing a substantial budget gap, increasing withholding on payments to independent contractors should NOT be one of the ways that the budget gap is addressed. Among the arguments against this proposal:

There is no evidence that independent contractors are failing to pay their income tax obligations. The proposed withholding requirement is merely intended to accelerate income tax payments so that the state can make money from the "float" that's earned while the funds are in its possession.

It creates significant administrative burdens for individuals that are now required to file 1099MISC information reports with the Franchise Tax Board. Under the proposal these individuals would now need to also calculate the required withholding amount and remit that amount to the state.

There will be significant administrative costs to the Franchise Tax Board that will be faced with making refunds to those independent contractors whose withholding amount remitted to the state exceeds their income tax obligation.

For More Information
Please contact DeAnn Kerr at deannk@car.org or Christopher Carlisle at christopherc@car.org. If your PIN number doesn't work, please contact C.A.R. at 916-492-5200.