Friday, July 30, 2010

Sunnyvale Condos under $300,000 ranked from youngest to oldest age

All the condos in Sunnyvale that have sold under $300,000 in the past year are either 1 bedroom or 2 bedrooms over 27 years old.

If you care about the age of your condo but can only spend up to $300,000, the order of preference from youngest to the oldest is:

4 year old 1 bedrooms on E El Camino Real:
631 E El Camino Real #202 & 633 E El Camino #201 : On E El Camino just E of RemingtonDr/NFairOaksAve.
621 E El Camino St #203 : Similar but closer to Remington/FairOaks than 631 #202 and 633 #201.

16 year old 1 bedroom on Arcadia Terrace:
605 Arcadia Terrace #105 : Many units on Arcadia Terrace are close to Fair Oaks Ave and Hwy 101. However this particular unit is at the corner that is farthest from both Fair Oaks and 101.

22 year old 1 bedroom at 929 E El Camino Real:
929 E El Camino Real #108C : On El Camino across the street from where E Fremont Ave merges/forks from E El Camino Real. Also just E of Wolfe, so suffers from noise from all 3 sources.

23-25 year old 1 bedrooms on San Conrado Terrace:
715 San Conrado Terrace #2 : Similar to 605 Arcadia Terrace except on the W side of N Fair Oaks. (Closer to Fair Oaks but farther from 101.)
708 San Conrado Terrace #3 : Just N of 715 San Conrado Terrace, so a little close to 101.
705 San Conrado Terrace #3 : Closer to Fair Oaks than 708 and 715.

27 year old 1 bedroom on Ironwood Terrace and 2 bedroom on W California Ave:
518 Ironwood Te #2 (Pebble Creek): N of Old San Francisco Rd between N Fair Oaks and N Wolfe
801 W California Av #A : California is a semi-busy street but is not as busy as most of the other streets on this list. The downside is the reduced car traffic is offset by its being the equivalent of a couple blocks away from Caltrain.

32 year old on 1001 E Evelyn & 33 year old on 999 @ Evelyn:
999 W Evelyn Terrace & 1001 E Evelyn Terrace : These units are similar in the amount of noise as W California Ave. However these units on Evelyn Terrace are closer to Evelyn Ave and closer to Caltrain than the W California units.

37 and 38 year old on N Fair Oaks Ave & Reed Ave:

755/771/787/791 N Fair Oaks Ave : Odd number addresses mean these units are on the W side of N Fair Oaks (Same side as San Conrado but closer to Fair Oaks. Opposite side of Fair Oaks from Arcadia Terrace.)

1083/1105/1107/1131/1139 Reed Av (#A-#D) : On Reed Ave, a busy street in its own right, just W of Lawrence, an extremely busy expressway.

Sunnyvale condos under $300,000 ranked from quietest to noisiest locations

Almost all the condos in Sunnyvale that have sold under $300,000 in the past year are either on or near a busy street. If you are sensitive to noise but can only spend up to $300,000, the order of preference from least noisy to most noisy are:
518 Ironwood Te #2 (Pebble Creek): N of Old San Francisco Rd between N Fair Oaks and N Wolfe

801 W California Av #A : California is a semi-busy street but is not as busy as most of the other streets on this list. The downside is the reduced car traffic is offset by its being the equivalent of a couple blocks away from Caltrain.

999 W Evelyn Terrace & 1001 E Evelyn Terrace : These units are similar in the amount of noise as W California Ave. However these units on Evelyn Terrace are closer to Evelyn Ave and closer to Caltrain than the W California units.

605 Arcadia Terrace #105 : Many units on Arcadia Terrace are close to Fair Oaks Ave and Hwy 101. However this particular unit is at the corner that is farthest from both Fair Oaks and 101.

715 San Conrado Terrace #2 : Similar to 605 Arcadia Terrace except on the W side of N Fair Oaks. (Closer to Fair Oaks but farther from 101.)

708 San Conrado Terrace #3 : Just N of 715 San Conrado Terrace, so a little close to 101.

705 San Conrado Terrace #3 : Closer to Fair Oaks than 708 and 715.

755/771/787/791 N Fair Oaks Ave : Odd number addresses mean these units are on the W side of N Fair Oaks (Same side as San Conrado but closer to Fair Oaks. Opposite side of Fair Oaks from Arcadia Terrace.)

631 E El Camino Real #202 & 633 E El Camino #201 : On E El Camino just E of RemingtonDr/NFairOaksAve.

621 E El Camino St #203 : Similar but closer to Remington/FairOaks than 631 #202 and 633 #201.

929 E El Camino Real #108C : On El Camino across the street from where E Fremont Ave merges/forks from E El Camino Real. Also just E of Wolfe, so suffers from noise from all 3 sources.

1083/1105/1107/1131/1139 Reed Av (#A-#D) : On Reed Ave, a busy street in its own right, just W of Lawrence, an extremely busy expressway.

Wednesday, July 14, 2010

Foursquare for Real Estate?

What is Foursquare? In the founders' own words “foursquare is a cross between (1) a friend-finder, (2) a social city-guide and (3) a game that rewards you for doing interesting things.
We aim to build things to not only help you keep up with the places your friends go, but that encourage you to discover new places and challenge you to explore your neighborhood in new ways.”

Basically, Foursquare is a GPS-enabled game. When you arrive at a business, you "check in". By checking in, you:
1. See if any of your connected friends are at or near the same location
2. Discover and/or share tips about the business(es) at that location
3. Earn points toward becoming virtual "Mayor".

Foursquare could provide some relevant feedback if you are a location owner. At the very least, you can follow who has been checking into your establishment. Better yet, if the customers leave feedback, you know what good features you can promote and what areas of improvement you need to work on. Since most check-ins are merely check-ins, you need to make giving feedback fun.
Can Foursquare be used for real estate? Here are some possibilities:


1. Add your listings to Foursquare as a tracking and feedback mechanism. Encourage your visitors to “check in” and leave their feedback. This is another way to get worthwhile information to your seller.

2. Track attendance at office tours, caravans or meetings.

3. Work to become Mayor of a particular neighborhood. This could be of some value on a listing presentation. As Mayor, you advertise yourself as the area expert.

Creative Realtors can distinguish themselves by finding fun, engaging and professional ways to incorporate Foursquare into their business plan.

Wednesday, July 7, 2010

Monthly Real Estate Report (Santa Clara County) 2010 June

WordPress <-- Link to BOTH the Newsletter and the Raw Statistics in WordPress

Newsletter <-- Just newsletter updating the real estate market

Raw Statistics <-- Just the stats

Saturday, July 3, 2010

Great Opportunity for Cash Buyers in Milpitas near Cisco at Parc Metro complex

Here's a great opportunity for CASH buyers to pick up bargains in a complex whose prices have temporarily plunged because right now nobody can get a loan for any unit in this Parc Metro complex. This unit is in a beautiful relatively new (10 yrs young) townhome complex conveniently located in an ideal, desirable commuter location for Cisco, SanDisk, and other high tech companies ...plus walking distance to food and shopping at the Great Mall.

Click this Link to view the Property Flier

Thursday, July 1, 2010

Newsflash: Eaton Elementary feeds to Lawson Middle

Many homeowners in the Eaton Elementary neighborhood don't even realize that their middle school got upgraded to one of the best middle schools in the top Cupertino school district. Back in August 2001, Lawson Middle School opened for the 2001-2002 school year. Immediately Lawson Middle School shot up to one of the top middle schools in Cupertino.

Apparently many longtime homeowners in the Eaton Elementary neighborhood still think their homes channel to Hyde Middle School. I searched through craigslist house rental advertisements that mentioned Eaton and found that the majority of posters/landlords short-changed themselves by still advertising their home as Eaton/Hyde instead of Eaton/Lawson. Hyde is one of the better middle schools but Lawson kicks academic ass.

To check for anything at anytime, go to this link:
Cupertino School Locator

Monday, June 28, 2010

Getting a loan on property that had additions or conversion without permit

Nowadays, will lenders lend on a property whose garage has been converted to living space without permits? It depends on several factors:
1. What type of room was the garage converted to? To a bedroom, kitchen, or just a bonus room?
2. Did the previous owners ADD any new electrical or water supply to the garage? Or are the only utilities to the garage still just the pre-existing washer/dryer hookups that existed in the garage before the conversion?
It is possible to do a loan with a converted garage if the garage was converted to something simple, such as a Family room.

If the converted garage had electrical or water added, then getting a loan gets more difficult. For example, if the owner decided to put a kitchen in the garage, or perhaps a bathroom without permits, the property then becomes non-compliant and getting insurance becomes a problem and getting a loan on the property becomes VERY difficult.

If, for example, the seller built another restroom without permits in the backyard, the restroom built in the backyard will require permits. For the most part, lenders will NOT lend on this property unless it does have permits because of the outside bathroom.

One possible way to get a loan in this difficult case would be to look at who is the existing lender on the property. IF that lender lent on the property previously and it didn't have permits there MAY be a possibility of them re-lending on the structure. IF however, the owner added all these things AFTER the loan was closed, you're going to have a problem.

Guidelines have tightened up A LOT in today's lending market, mainly because of all of the foreclosures and short sales. Previously, IF the appraiser looked at a garage conversion and did NOT give ANY square footage toward living area, many lenders would not be too concerned since that area was NOT counted in the over all square footage and the value of the property was treated as if NO conversion took place.
The real problem comes into play when owners start adding kitchens and bathrooms without permits. This is because of potential fire hazards. A single family residence is supposed to have 1 kitchen and the bathroom count is per the original specs of the floor plan of that unit which is recorded with the building department. If the owner changes any of the original structure without permits it becomes harder to get insurance and loans....ESPECIALLY in today's market.

My lender contacts have closed quite a few loans WITH garage conversions BUT they were closed off rooms with NO additional bathrooms OR kitchens. In several cases the original garage door was still intact, just sheet rocked. This type of conversion is easy enough to convert BACK to the original garage because the structure itself was NOT tampered with.

Saturday, June 19, 2010

3 precautionary steps before you apply for a loan

I got the following inviting email offer in my SPAM folder: "Reach more Qualified Prospects with Credit Bureau Data". Someone claiming to be Amorena Cervantes from Endless Resources, Inc. was offering to sell me a long list of mortgage leads based on mortgage triggers.

What are Mortgage Triggers?
When you apply for a mortgage, your lender pulls a copy of your credit report,which triggers an inquiry. The credit bureau can then turn around and sell your name to other mortgage companies who may want to compete for your business. This is called a mortgage trigger lead.

Here are some examples of information that may get sold to telemarketers:
  • whether or not you've applied for a mortgage recently
  • your location
  • your credit rating
  • your loan-to-value (LTV)
  • aggregate balance of your open mortgage trades
  • your combined mortgage and HELOC balances
  • age of your most recent mortgage trade
  • your mortgage lender name
  • your current mortgage type

Is this legal?
Yes, the Fair Credit Reporting Act allows the sale of your name. That means credit bureaus can legally sell your information to third-party vendors if you don't do anything to prevent them from doing so. That's why you need to take some action to protect yourself from trigger lead harassment.

1. Sign up for OptOutPrescreen.
Go to http://www.optoutprescreen.com/ and follow the instructions. This will stop the four credit bureaus (Equifax, Experian, Innovis and TransUnion) from selling your name as a trigger lead. Opting out puts a stop to trigger leads for five years.

Furthermore, some lenders say that by opting out, you can add 10 to 15 points to your credit score! For permanent restraint, you will need to mail in your registration, which is also available on the OptOut Web site.

Here is the confirmation message you will receive if you go through the online 5 year opt out procedure. "The following is a confirmation of your 5 year Opt-Out request. Please click here to print this confirmation for your records. Your request will be completed within 5 business days. Although your request becomes effective with Equifax, Experian, Innovis and TransUnion within five business days of your request, you may not see an immediate reduction in the amount of offers you receive. This is because your name may have already been provided to some companies that have not yet mailed their offers to you. You may continue to receive certain firm offers for several months.
While your name will be removed from the lists that Equifax, Experian, Innovis and TransUnion provide to businesses for the purpose of making you a firm offer of credit or insurance, you may continue to receive offers from sources that do not use Consumer Credit Reporting Companies to compile their lists."

2. Put your name and phone number on the National Do Not Call Registry. You can register your cell phone number as well. Do this at least a month before you apply for a loan because it takes 31 days to take effect. You'll have to re-register every five years because the order expires at the end of five years.

3. Register with the Direct Mail Association to prevent mortgage lenders from sending you direct mail. You can register online or through mail. Either way, it will cost you $1.00, which can be charged to your credit card. Register early because the DMA distributes its lists quarterly, so it could take a while to become effective. This registration is good for five years.

Monday, June 7, 2010

Monday, May 31, 2010

Sunnyvale Elementary School District Site Boundaries Map

If elementary school ranking is important to you, then be extra careful of school boundaries in western Sunnyvale because the top elementary schools (Cherry Chase, Cumberland, and Ellis) all happen to border the worst performing elementary school (Vargas).

The most critical boundary is the dividing line between Cherry Chase (the top performing elementary school with 2009 API = 943) and Vargas (the worst performing with 2009 API = 729). West of Mary Ave, the homes south of El Camino are in Cherry Chase while the homes north of El Camino are in Vargas Elementary.

The 2nd most critical boundary is between Cumberland (the 2nd best school, API 879) and Vargas. In this case, the homes southeast of the corner formed by Mary Avenue & Washington Avenue are in the desirable Cumberland Elementary school zone.

The 3rd most critical boundary is between Ellis Elementary (the 3rd best school, API 823) and its two lower performing neighbors to the north Vargas (the worst performing, API 729) and Bishop (the 2nd worst, API 736). Ellis includes the Sunnyvale Town Center neighborhood that is southeast of the corner formed by Mathilda Ave and Evelyn Ave. Northwest of Washington Ave & Mathilda Ave is Vargas Elemenary school zone. North of Evelyn Ave between Mathilda Ave & Fair Oaks Ave is the Bishop Elementary school zone.



Reference: Sunnyvale Elementary School District: Site Boundaries Map ,


Tuesday, May 25, 2010

Don't leave scrap wood for termites to munch !!


Termites love to munch on scrap pieces of wood. If you leave the wood, they will come. This is exactly why termites reports warn about "cellulose debris".
Notice the termite fecal matter that looks like dirt. No that's not dirt. It's termite wasteproduct.
Normally, humans only see the "evidence of termite infestation" and rarely see the termites themselves. That's because termites don't like sun and dryness. They like dark and damp. This piece of scrap wood was inverted and soaked with water. When I flipped the board over, I caught the little munchers in action.


Sunday, May 23, 2010

Cupertino Union School District Lottery for Special Schools

Parents of school age kids who live anywhere within the Cupertino Union School District, can choose to apply for open enrollment or alternative education at any of the schools within the district via a lottery system.

"Alternative Education" refers to the four special schools within the district: Meyerholz Chinese (Mandarin) Language Immersion Program (CLIP), Murdoch-Portal, Faria A+, or McAuliffe.

"Open Enrollment" refers to any of the "regular" schools within the district.

Each family is only allowed to apply to ONE single open enrollment school or alternative education program. If the school district sees that you have applied to the lottery at more than one school, you will lose priority at ALL the schools you have requested. Therefore, you need to carefully weigh how desireable each school is, how suitable each school is for your particular child, how likely your child will get in through the lottery, and how much you think your child wil like that particular school.

If your child has a current or pending IEP, you must get approval from Pupil Services Department based on whether the special program your child needs is available at your requested site. If your request is approved, you give up your space in the school your child is currently registered.

The lottery for school registration priority typically takes place in late February. However, To be even eligible for the lottery, you need to complete and return transfer request forms to the school/program you desire during the open enrollment period in early February. If you are interested in applying for a special school, you will have to prepare even earlier than that. All of the four special schools require that at least one parent attend one of their mandatory information sessions before you are allowed to apply. This makes sense because parents need to decide whether schools fit their child's learning style. For example, Faria is a strict academic elementary school. If your child likes to explore and be creative, Faria may not be a great choice. Instead, McAuliffe would give your child more opportunity to flourish.

Friday, May 21, 2010

Eichler Radiant Panel Heating Systems - What to expect

Some homebuyers shy away from Eichlers because they don't know what to expect from a radiant panel heating system.

Before you buy an Eichler home, you should request an inspection of the radiant heating from a reputable radiant heating specialist. A company such as Dan Salzberg's Radiant Heating Service, located in Mountain View, charges just $275 to inspect your radiant heating system for the existence of leaks.

The radiant heating company will perform a pressure test on your radiant heating system with a pressure gauge at approximately 25-psi while the system is at cool ambient temperature. (The test would not be reliable if pressure tested at elevated temperature since the change in pressure might be due to a temperature change rather than a true leak.) If the pressure holds steady, then we know the system has no leaks. However, if the pressure drops over time, that indicates a leak somewhere in the system. For example, if the pressure drops 1-psi in 10 minutes, that indicates a slow drip of approximately 3 drops of water per 10 minutes. Somewhere in the system is a small leak. A leak of 1 drop every 3 minutes is on the small side. A leak of 1 cup every 1 minute is major. If the leak is major, then the pressure test will show the system not holding pressure at all.

The most common area for leaks is wherever the pipes cross under cracks in the concrete slab floor. The expansion and contraction of the concrete slab floor can cause a leak.

To pinpoint the exact locations of the leaks, the consumer can ask the radiant heating service to perform a Helium Leak Detection. Dan Salzberg's Radiant Heating Service charges between $500-$800 for this type of test. They might find one leak; they might find 10 leaks. This technique involves detecting and repairing each individual leak. A typical repair bill using leak detection and repair might be from $1,000 - $2,000. Keep in mind though that radiant repair quoted here does not include replacement of the floor covering. The downside of radiant heating in the Eichler slab floor is the flooring needs to be removed in order to access the heating system.

To replace an entire radiant heating system would cost anywhere from $10,000 to $50,000. Normally, homeowners do not go for this extreme. If the house has large leaks in 3 different rooms, then maybe the homeowner should consider a completely new heating system.

Another technique is to use Hydronic System Sealant to try to stop small leaks in the heating system in general. Instead of detecting each individual leak, the radiant heating company puts sealer in the system and then retests later with the whole leak detection process to check whether it worked. Sometimes the sealant stops the leaks; sometimes not. Sometimes corrosion closes the leak again. However, if a heating system has 10 leaks now, there's no guarantee that 6 months from now another pipe that crosses a crack won't start to leak.

Are leaks in radiant heating systems commonplace? When I asked Dan Salzberg, he responded that if they were to test all the Eichler radiant heating systems in the neighborhood block at any given instant, one third (33%) to one fourth (25%) of the houses would have a small leak.

I hoped I helped give you an idea of what to expect from the radiant heating system that is often found in Eichler homes. Now that you know what to expect from radiant heating systems, you do not have to worry about the heating system when buying an Eichler home.

Tuesday, May 18, 2010

Condo vs PUD - What's the difference?

The two most common forms of common interest developments in California are Condominiums and Planned Unit Developments (PUDs). What's the same and what's different?

The characteristics shared by both forms of ownership are:
  • Common ownership of private residential property
  • Mandatory membership of all owners in an Association which controls use of the common property
  • Governing documents (CC&Rs) which establish the rules which owners must follow in the use of their individual lots, as well as common areas.

The basic differences between ownership of a condominium and ownership of a PUD are:

  • The Condominium owner owns 100% of the unit, as defined by a recorded Condominium Plan, and also owns a fractional, or percentage, interest in all common areas.
  • The PUD owner owns the lot as shown in the recorded Tract Map or Parcel Map along with the structure and improvements. They also receive rights and easements to use in common areas.

Santa Clara County Assessor's New Tool for Estimating Supplemental Property Taxes

The Santa Clara County Assessor's Office has developed a new tax estimator to help new and prospective homeowners estimate the amount of property taxes they will owe following their purchase. Supplemental assessments and taxes are in addition to the regular assessments and taxes. The Regular assessments are prorated during escrow such that the seller and buyer each pay the portion of taxes attributed to their period of ownership. This Regular property tax is based on the old owner's current assessed value prior to the purchase transaction. The supplemental assessment is based on the difference between the prior assessed value and the new assessed value. This value is multiplied by the tax rate then the resultant tax is prorated for the number of months remaining in the fiscal year from the date of acquisition by the new owner. The sum of the regular tax bill and the supplemental tax bill results in effect to a property tax based upon the value of the property as of the new owners' date of purchase. Realtors typically provide prospective homeowners with an estimate of their taxes for future years by multiplying the purchase price by an estimate tax rate. These estimates usually don't emphasize the new property owner's responsibility to pay the supplemental tax bill that will result from their purchase. This is why the Santa Clara County Assessor's Office created the new supplemental estimator at www.sccassessor.org/ste . This site should take the mystery out of supplemental property taxes.