Santa Clara County Median Price for Condos Continues Rising 2018 April

For Santa Clara County, the median price for condos was up 28.9%, year-over-year, to $915,444. This is the second month in a row the median price for condos has set new highs. Notably, the median price for condos has been higher than the year before every month since July of 2011! The median price for single-family, re-sale homes stayed at the high it set in March. The median price for homes rose 22.1% over last April to $1,450,000. The median price for homes has been higher than the year before by double-digits ten months in a row. The average price was up by double-digits for the ninth consecutive month.

This is also the 74th month in a row the median price has been higher than the year before. The average price for homes was up 20.0%, year-over-year, to $1,722,370. The average price for condos was up 24.5% over last April. Multiple offers continue to be the norm. The sales price to list price ratio, or what buyers are paying over what sellers are asking remains at triple digits: 112.4% for homes and 114.8% for condos. The ratio has been over 100% for homes since March 2012 and for condos since April 2012.

Homes and condos are flying off the shelf. It is taking only fifteen days to sell a home, on average. Condos are taking nine days. All this is due to an incredible lack of inventory. Since January 2000, Santa Clara County has averaged 94 days of inventory. Last month it was twenty-three. Condos have averaged 87 days since 2000. Last month it was seventeen. As of May 7th, there were 753 homes and 229 condos for sale in Santa Clara County.

2bed 1bath condo for around $400,000 at Chiechi Avenue, San Jose 95126 under contract

2bed 1bath condo for around $400,000 at Chiechi Avenue, San Jose 95126 under contract

Two real estate listings that are NOT on the MLS

Two real estate listings that are NOT on the MLS:

• 2-bedroom condo in Sunnyvale.  Convenient location.  Easy commute to high-tech employment.  Great place to live. 
• 4-bedroom single-family home in the North Valley / Berryessa part of San Jose.  Near Townsend Park and the Golf Course.  Good investment.

Call Robert Lei (408) 893-2410 if you know anyone who might be interested.

ROBERT LEI GETS RESULTS IN SUNNYVALE, SUNNYVALE, SUNNYVALE!

Disclosures for 705 San Conrado Terrace Unit8 Sunnyvale CA 94085

Disclosures for 705 San Conrado Terrace Unit8 Sunnyvale CA 94085

http://www.c21mm.com/Search/ListingDocs.aspx?ID=20071&listingID=218-10-81597711

Open House Sunnyvale 2bed 2bath 2carGarage condo Saturday August 6th 2pm-5pm + Sunday August 7th 1pm-5pm

Open House
705 San Conrado Terrace Unit #8
Sunnyvale, CA 94085

Saturday August 6th 2pm-5pm
Sunday August 7th 1pm-5pm

Virtual Tour
http://www.705sanconradounit8fairoaksplacesunnyvale.com/

Condo for Rent 88 Bush Street Unit#2119, San Jose, California 95126

Condo for rent

Luxury modern tri-level condo in Plant 51, the most desirable complex in South bay (for its location, security and amenities). Quiet peaceful inner unit, fully upgraded. Dramatic high ceiling, open floor plan, and large windows. Gated complex with fine fitness center, bicycle kitchen, BBQ area & fire pits. Right next to beautiful Cahill Park, nearby light-rail and Caltrain station, and with walking distance to downtown restaurants and entertainment, including Whole Foods and SAP Center. Luxurious city living, a must see!

88 Bush Street Unit#2119, San Jose, California 95126
Beds: 2 Baths: 2 Bldg SqFt: 1,444 SqFt Age/Yr Blt: 8/2008

333 Santana Row,#242, San Jose 95128 (Open House Today 1pm-4pm)

333 Santana Row,#242, San Jose 95128

Open House Today Sunday May 15th, 1pm-4pm

CEO CONDO - Enjoy the modern urban experience, executive style and comfort in this 2nd floor Santana Row loft/suite with a generous terrace. Freshly painted featuring maple laminate flooring throughout, Lower level den with closet can be used as a guest bedroom with half bath, Upper level features include bedroom, full bath, laundry room, walk-in closet, reading area and terrace with a view. Secured underground parking with one space allocated to this unit. HOA covers water/sewer/garbage/HVAC system and much more! Truly a MUST SEE! 

Open House scheduled for Sunday, May 15 from 1 - 4pm.

Near Santana Row. 3bed 2bath 1407sqft 2car 11yrs new. $649,800 stylish top floor condo.

Near Santana Row. 
3bed 2bath 1407sqft
2car side-by-side parking in gated garage
11yrs new.  stylish top floor condo.
$649,800

Get a 3bed near Santana Row for the price of a 2bed in Sunnyvale.

Offers due TOMORROW for SUNNYVALE Condo 2bed 2bath 2car garage (707 San Conrado Terrace Unit 6)

Offers due TOMORROW for SUNNYVALE Condo 2bed 2bath 2car garage (707 San Conrado Terrace Unit 6)


Virtual Tour : http://tours.victorlinphoto.com/public/vtour/display/495912?a=1










Facebook: https://www.facebook.com/CaliforniaBayAreaRealEstateRobertLei/

Where in the Prelim do I check to saveCondo vs. PUD

Question: How do you determine whether a property is a condo (i.e. has condo ownership) or is in a Planned Unit Development (aka PUD ownership)?
Answer: Check the Preliminary Title Report.   The Prelim Page#1 Item#1 To help determine whether the property is a h Condo or pud from prelim page1.

If Item #1 says "A Condo", then it's a condo.
If Item #1 says "A Fee", then most likely the property is in a PUD.

Check out Page4 of the preliminary title report:
If you see HOA and dues, then the property is part of a PUD because the owners pay a maintenance fee.

Divided interest in your unit plus undivided interest in the common areas.

Condos have undivided interest in the entire complex.

Different lenders charge different fees for different types of ownership.

929 East El Camino Real Condo Investment Property Rental Earnings

Posted under: Home Buying in Sunnyvale, In My Neighborhood in Sunnyvale, Investment Properties in Sunnyvale

929 East El Camino Real Condo Investment Property Rental Earnings:

The condos on 929 East El Camino Real in Sunnyvale are conveniently located on East El Camino Real just east of Wolfe Road, near where Fremont Avenue merges onto East El Camino Real, just south of Sunken Gardens Golf Course.

Unlike most multi-story condos and townhomes, these units walk DOWN to the bedroom level.  The advantage of this arrangement is when it is time for you family to go to bed, the only people who will be above you are your own family.  If someone makes noise in the kitchen, living room, or dining room, it is your own family and/or housemate, so you can walk upstairs to tell your family member or housemate to be walk more quietly.

If the bedrooms were on the upper level of your unit, then above you would be people who live in the unit above you, not people from your own household.  You would have to go outside and knock on their door to get them to walk more quietly at bedtime.

Of course, the biggest consideration if you are considering these condos for investment is the amount of rent you can expect to earn each month from these condos.

The 3 bed 2.5 bath 1,832 sqft models right now earn approximately $3,400/month in rent.
The 3 bed 2 bath 1,440 sqft models right now earn approximately $3,000/month in rent.

To calculate the yearly income, multiply these rents x 12 months.  This is also known as the gross scheduled income.

From that, take into account the vacancy rate.  This location is very convenient -- convenient to commute to work and convenient to grocery stores, restaurants, etc -- so the vacancy rate should be under 5%. 

Multiply the Gross Scheduled Income x Vacancy Rate to arrive at Dollars Lost.
Gross Scheduled Income LESS Dollas Lost gives you Annual Rental Income.

If you gain any other income from the property, then add it to arrive at Gross Operating Income.
Subtract total annual operating expenses to get Net Operating Income.
Subtract Annual Debt Service to get Before-Tax Cash Flow.

The Before-Tax Cash Flow does not take into account your tax savings.
To arrive at your After-Tax Cash Flow, take into account the following:
--The annual interest deduction on your loan
--The annual depreciation on the improvements
--Your combined federal and state tax bracket (e.g. 38%)
   (Ask your tax professional whether all your tax losses may be claimed in the current year)

If your Before-Tax Cash Flow is negative, combine that with your depreciation to get Allowable Loss.
Multiply this Allowable Loss by your combined federal + state tax bracket to calculate Taxes Saved.
If the Taxes Saved is greater than the Before-Tax Cash Flow, then your final resulting After-Tax Cash Flow will be positive!


To calculate the Rate of Return, you'll need to first calculate the Cash Investment.
You can buy the larger unit for approximately $600,000 right now.
You can buy the smaller unit for approximately $550,000 right now.

If you get an 80% loan, then your down payment will be 20% ($120,000 for the larger unit. $110,000 for the smaller unit)  Add the expected buyer's closing costs to arrive at the Total Cash Investment.

The After-Tax Cash Flow divided by the Total Cash Investment = the After-Tax Rate of Return

As rental rates increase over the years, your rate of return will increase.
Perhaps an even bigger gain is the likely large appreciation of the property. 

The condos at 929 East El Camino Real are a viable choice as investment property.  Of course, you could also buy them to live in yourselves, so  you will be the one to enjoy its convenient location.