King Condo Real Estate in San Jose by Jeff Hansen

History of Home Values

2012-05-03T23:04:02Z

How Does This Grab You?

First off, I’d like to mention that these statistics are inflation adjusted values, not absolute values. It’s safe to say that overall, home values are up since the 1890 benchmark. However, because we experienced such a huge rise in prices in the late 1990’s and early 2000’s, the sharp decline in home prices in the summer of 2006 was a major shock. What a lot of us tend to forget is that home values are still above the national average since the benchmark of 1890. As with anything else, it’s easy to believe that when the market is up, it will continue that trend. On the flip side, when we’re experiencing a down market, people have a hard time imagining that things could ever be different. This graph is a good reminder that the market goes through cycles and that what we’re going through today, won’t last forever.

There was a point during this recession that buyers had a complete lack of confidence and were fearful of buying. Currently there’s multiple offers on almost every property at almost every price point. Buyers are trying to take advantage of these historically record low interest rates and low home values. It’s a changing market, one I believe that has already reached the bottom.

Do you believe that now is the time to engage in the market and purchase a home? Feel free to contact me so we can chat about your situation and your perspective; I’d love to help. As always, don’t forget to subscribe.

Recent Short Sales Listings Closed!

2012-05-02T22:52:22Z

2140 Silver Vale Court And 30 E. Julian Street

I am proud to say that after somewhat lengthy processes, we have successfully closed on my two short sale listings on the same day as a matter of fact. My sellers could not be happier that we were able to handle each of their transactions as opposed to just letting the property go to foreclosure. As for the buyers, well each now have a great place to live at amazing values. The short sale process, like I’ve said time and time again, isn’t for the faint of heart. It takes motivated sellers, patient and dedicated buyers, competent agents, an incredible escrow company, knowledgeable lenders, and impeccable timing. During the short sale process, it’s typical that you’ll run into speed bumps. It’s important that the listing agent for any home going through the short sale process has fantastic follow-up with the banks, their sellers, and the buyer’s agent. Every party has to be aware that at some point during the process, the bank might request for different things such as, the buyer to pay for the delinquent HOA fees on the property, if such exists.

One huge surprise we had with the condo on Silver Vale was that we learned that the complex was in litigation with the builder, which means that a buyer would have to pay all cash because lenders won’t make loans on “condo-ownership” homes. On a side note, the buyer in escrow was not an all cash buyer. What we also learned is that there are two communities where the Silver Vale home is located. One of those communities is in litigation with the builder, however, through a lot of investigation, we found out that it had nothing to do with the structure of the buildings, meaning the lender has the ability to make a loan. If you guessed that the litigation actually had to do with the palm trees in the community, then you are a genius!

Obviously, there were other situations we had to work through for each of these transactions. My point is that there are many moving parts to short sale transactions, and they all have to work just right. If everything is resolved in a timely manner, then you could have a win-win situation. I’ve been a Realtor for 19 years, and aside from two short sale transactions, I’ve been able to work through all short sales successfully that I’ve been a part of.

If you’re a seller and want to know if the short sale route is something you want to pursue, please don’t hesitate to contact me. If you’re a buyer who needs advice on looking to purchase a short sale, please contact me as well. Hopefully you’ve learned a thing or two through this post, and please don’t forget to subscribe!

Condo Crawl

2012-04-12T21:42:03Z

This Is One Event You Shouldn’t Miss!

The Downtown San Jose Condo Crawl Open House features three high-rise condo buildings: the Axis, The 88, and City Heights. You have probably seen these buildings from Highway 87 or driving through downtown. The crawl will be taking place on Saturday, April 21st from noon to 4 p.m. This is going to be a great opportunity to check-out model homes and penthouses in each of these buildings. For more information on this event, click here.

Have you ever thought about purchasing a unit at one of these high-rises? What are your impressions of living in one of these buildings? Feel free to contact me with your thoughts.

Don’t forget to subscribe!

New Listing!

2012-04-05T23:06:40Z

The Best Of The Best At Paseo Plaza

Unit #242

One of Only Five Separate Residences With Their Own Private Elevator Landing and Patio/Garden with Views of the Inner Courtyard

Tri-Level with Voluminous Ceilings (16 ft. in Living Room)

Townhosue Style With No One Else Living Above or Below

Southern Exposure with Light on Two Sides

Two Bedroom with Two and One Half Baths

Original Owner Well Maintained City Home

1,695 sq. ft. of Living Area not including Private Patio and 2 Balconies

Two Deeded Side by Side Desirable Parking Spaces #91 and #93 (not tandem, very close to elevator & with sapce on sides so no dings from other cars)

Newer Tile and Paint

Newer Kitchen Appliances

Two Sided Gas Fireplace

Two Deeded Storage Spaces Included in Sale

Pool, Spa, Workout Room & Sauna

On Site HOA Management and Maintenance

Community Room Available For Private Events

Beautifully Maintained Common Areas

Quiet location yet right in the heart of vibrant downtown. Within a city block of Safeway, US Post Office, The Repertory Theater, Camera Cinemas, a world class library (combined SJSU and San Jose Main), Philz Coffee, a great French Bakery, Starbuck’s, Tangerine Salon, too many quality restaurants to mention, the VTA Light Rail lines, and so much more.

One of Only Five Separate Residences With Their Own Private Elevator Landing and Patio/Garden with Views of the Inner Courtyard

Tri-Level with Voluminous Ceilings (16 ft. in Living Room)

Townhouse Style With No One Else Living Above or Below

Southern Exposure with Light on Two Sides

Two Bedroom with Two and One Half Baths

Original Owner Well Maintained City Home

1,695 sq. ft. of Living Area not including Private Patio and 2 Balconies

Two Deeded Side by Side Desirable Parking Spaces #91 and #93 (not tandem, very close to elevator & with sapce on sides so no dings from other cars)

Newer Tile and Paint

Newer Kitchen Appliances

Two Sided Gas Fireplace

Two Deeded Storage Spaces Included in Sale

Pool, Spa, Workout Room & Sauna

On Site HOA Management and Maintenance

Community Room Available For Private Events

Beautifully Maintained Common Areas

Quiet location yet right in the heart of vibrant downtown San Jose. Within a city block of Safeway, US Post Office, The Repertory Theater, Camera Cinemas, a world class library (combined SJSU and San Jose Main), Philz Coffee, a great French Bakery, Starbuck’s, Tangerine Salon, too many quality restaurants to mention, the VTA Light Rail lines, and so much more.

For more info on this amazing unit, just click here.

Showing Property

2012-03-30T22:19:21Z

Modern Ice

A couple weeks ago, we showed this downtown San Jose condo complex to a buyer we’re working with. Modern Ice was built by Taylor Morrison, and there are even more town homes that are currently in the middle of construction within this complex. You’ll find a nice park in the center where you can let your dogs run around and/or bring your kids to play. Modern Ice is located at 652 Luna Park Drive San Jose, CA. 95112.

The great thing about these town home style condos is that they are FHA (Federal Housing Administration) approved. This means that through the government program, you can do low down as a buyer. However, the trick here is that the entire complex has to be FHA approved. This is only true if the units are “condo-ownership,” which happens to be the case here. Compared to the amount of condo complexes in the Silicon Valley, there aren’t too many condo complexes that are FHA approved. Luckily for all of you buyers out there, the Modern Ice complex is FHA approved.

Do you have any questions about the FHA program or about this really cool complex? Please don’t hesitate to contact me and don’t forget to leave a comment down below with any of your thoughts. Onward!

BART Coming To The Silicon Valley

2012-03-26T17:42:41Z

So Cool…

Click here to view the embedded video.

I couldn’t be happier that BART is finally going to be extended to our area. Like many of you, I’ve been stuck in traffic wishing someone would come up with a more efficient way to travel to different parts of the Bay Area. BART is going to save so much more time and energy. Because of our fast-paced culture here in the valley, I am put an ease knowing that I won’t forever be bumper to bumper on the 880 freeway at 6pm.

For more information on this fantastic project, just click here.

What do all of you think about BART coming to San Jose? Are you looking forward to it? Will it have any impact on your commute? Leave a comment down below, and don’t forget to subscribe!

Mortgage Update

2012-03-22T23:48:50Z

I wanted to pass on to you some information regarding current mortgage rates from a lender I work closely with, Mike Aning, of Turnkey Mortgage. Here is a quick and simple summary from him, which you can definitely share with your friends:

News

While employment numbers are certainly moving in the right direction, a rapid acceleration in labor demand is not yet in the cards – which by extension strongly suggests that a steady upward move for mortgage interest rates is not yet a threat either.

Another month or two of increased price paid for raw materials at farms, factories and refineries, should it occur, will almost certainly add upward pressure on mortgage interest rates.

Interest rates are slightly worse than last week.

Rates

Conventional 30 Year Fixed – 3.75%

FHA 30 Year Fixed – 4.00%

Conventional 30 Year Fixed 4.125%

FHA 30 Year Fixed – 4.00%

If you, a friend, family member, or neighbor, are thinking about buying and need to be connected with an intelligent lender, please feel free to contact me. In addition, if you have any questions regarding the real estate market and/or could use some guidance throughout the home search process, I’d be more than happy to talk to you. Send me an email or just give me a ring.

Downtown San Jose A Tech Magnet?

2012-03-20T00:21:12Z

It isn’t yet, but will it ever be?

Anyone who has heard of Silicon Valley knows that our area is the leading tech hub of the world. However, start-ups and other high tech companies are most famous for being located primarily in Mountain View and Palo Alto.

Could downtown San Jose ever be the place where start-ups, start up? There are many elements to downtown that make it seem like this should be one of the major areas of Silicon Valley, where high tech companies are attracted to. Almost everything is within walking distance, and if that’s not enough, there are different methods of transportation to get you from point A to point B within good time. You will find professionals walking the streets during day time hours, although, significantly less on the weekends.

Downtown San Jose is an action-packed city with a melting pot of people just like the rest of Silicon Valley. As a huge supporter of downtown, I couldn’t imagine why high tech companies wouldn’t want to get their feet on the ground running in this amazing place. The finance companies sure don’t seem to mind being in the middle of it all.

I came across an article that dives into this topic written by Mary Ann Azevedo, reporter for the Silicon Valley/San Jose Business Journal. You can read about her observations and opinions on this matter by clicking here.

What are your thoughts on downtown San Jose becoming a tech magnet? Why do you think it hasn’t happened yet or will it ever? Please leave me a comment down below or feel free to contact me. Don’t forget to subscribe!

Talking Real Estate On Get Real TV

2012-03-14T17:38:33Z

Get Real With Brian Stuckey

I had the privilege of interviewing with CreaTV San Jose’s Brian Stuckey. During this market, I’m usually asked the same questions that revolve around our current real estate market. We are all constantly influenced by the media on their observations of whether this market will be turning around in the near future or if it’s already beginning to pick up. What you might forget is that all markets are slightly different, and what should matter to you is what’s going on in your local market. What most can agree on is that this is a buyer’s market when considering the historically low interest rates and where we see home prices.

I would like to invite you to watch a clip of my interview as I go further in depth with Brian on my prediction for the remaining of the 2012 year. Just click here, and my interview starts around the 2:00 minute mark.

If you have any questions, thoughts, or comments about the clip, please leave a comment down below or simply email me. I’d love to hear from you and what your experiences have been like in this market. Onward!

This Month In Real Estate – March 2012

2012-03-02T01:37:48Z

The Pulse Of The Market

Click here to view the embedded video.

For the sellers out there, what do you think about the ideas explained in the video regarding pricing your home? Have you ever priced your home higher than market value? Were you worried that if you set the price too low, you’d regret it if you had a buyer interested instantly?

If you have ever been in the market to purchase a home, what has your reaction been like after seeing homes sit on the market for a long time, solely because the price isn’t set at market value?

If you need great advice on determining how to price your home or how to get it more attention, please don’t hesitate to contact me. Don’t forget to subscribe to get the latest and greatest real estate info. Happy Leap Year!

King Condo Real Estate in San Jose by Jeff Hansen

History of Home Values

How Does This Grab You?

Recent Short Sales Listings Closed!

2140 Silver Vale Court And 30 E. Julian Street

Condo Crawl

This Is One Event You Shouldn’t Miss!

New Listing!

The Best Of The Best At Paseo Plaza

Unit #242

Showing Property

Modern Ice

BART Coming To The Silicon Valley

So Cool…

Mortgage Update

News

Rates

Leave a comment down below and subscribe to my blog!

Downtown San Jose A Tech Magnet?

It isn’t yet, but will it ever be?

Talking Real Estate On Get Real TV

This Month In Real Estate – March 2012

The Pulse Of The Market