Alan Wang's Real Estate Blogger

Q4 2011 Real Estate Update

2011-10-30T23:44:00.000-07:00

Q4 2011 Real Estate Update

Greetings to you all and as the holiday season approaches, I wanted to wish you and your family a holiday season. I wanted to send out a my Q4 Real Estate update before you all head out for the holidays. In my 8 years in this business, this year may rank as the best year in my career. I am blessed and thankful for each and everyone of you who continue to refer me to your friends, family and co-workers; over half of my business was from you as my clients referring my name. Again thank you all for remembering me when it comes to your Real Estate needs.

The market has unfolded as I predicted in 2010. Whereas in 2010 School Sensitive Buyers were buying, this year ALL segments are buying. If you recall earlier this year I said that 2011 is the last year to buy for those of you that wanted to take advantage of the downturn; that bottom has longed passed. Multiple Buyers of mine are looking very hard, but not finding much to buy. Inventory supply levels are low and Buyer demand high. Economics dictates that this means we are in a Seller's market overall. Many of my Buyers are shocked when I say this and the tough lesson gets learned when low offers get rejected while more reasonable offers get accepted. We are in a new market unfortunately so do adjust your expectations accordingly going into 2012. My hope is that there is more inventory in the new year to meet this demand, however right now we are entering a slow period with Thanksgiving and Christmas, so I am expecting inventory levels to remain low.

There has been a surprising come back of Townhomes! My customer segments that do not prioritize schools as high, but rather want to live in a newer town home close to work have taken flight. I think this is a good call as Town homes have been a bargain buy from peak, so much so that there are low inventories in this class of property as well just over the last few months.

Property Taxes Due 11/1 Overdue on 12/10

Remember that property tax is due on 11/1 but you have until 12/10 to pay them without a penalty. After 12/10 penalties will apply. Here are the links to your respective counties accessor sites. You usually can search by your address but if you need your Accessors Parcel Number (APN) let me know!

Santa Clara - http://www.sccgov.org/portal/site/tax/
Alameda - http://www.acgov.org/assessor/assrinfo.htm
San Mateo - http://www.sanmateocountytaxcollector.org/

House Hunters

I am very excited to announce that I will be featured on House Hunters around the May timeframe next year! We just wrapped up 4 full days of filming a few weeks back, with some finishing touches in November. This will air on HGTV. For those of you that are not familiar with House Hunters, initially they start with the Buyer requirements, I show my client 3 homes and go through the pros and cons of the home. They then weigh the pros and cons then they select the home at the end of the show. Since I announced this, I couldn't believe how many people watch this show! I'll send more details once I get the exact air date. It's been a ton of fun to dabble in acting and even more exciting when you don't need to act, they let me be myself the way I usually operate. Welcome to reality TV!

Mortgage Loan Limit Changes

On October 1st, the Conforming Jumbo loan went away and today a Conforming Loan in Santa Clara/Alameda/San Mateo County goes for loan amounts less than $625,500 while the Jumbo loan are loans above $625,500. For those of you that are buying over the $1 million dollar mark the variable second loan has returned for the delta between $625,500 and the loan amount that you need.

Hidden Jewels

- Possible new pocket listing, fully re-modeled and expanded single family home in San Jose Berryessa, more details to come
- There is a subdivision of 4 brand new homes I've been watching for over a year. It's located in Mountain right on the border of Varsity Park/Los Altos border going between $1,278,000 to $1,358,000 for 1,800 to 2,000 square feet. The schools are Mountain View schools though but an opportunity nonetheless. Let me know if you are interested before they are released.
- There is a new Townhome development in which I really like the 3 and 4 bedroom models in the middle of the Bay Area, great location, 2 of my clients bought already, ask me about them!
- There is a new Santa Clara Townhome development as well let me know

Homes Sold

- 5117 Fioli Loop in San Ramon earned my fastest close ever in 14 days! We were $50,000 under market price and $25,000 under the appraisal price, great deal!
- 10220 Sterling Blvd in Cupertino - Sale Pending a lovely brand new home development boasting 5 bedrooms, 5.5 bathrooms, stunning!
- New Townhome development closed, bought in the first release and lines continue for this lovely model!

Summary

If you have thought about selling your home in 2011, do contact me so I can assess where you live. I generally would not advise selling during the holiday season but depending on where you live, this market may allow you to do so and close fairly quickly. Buyers, do expect low inventory at this time which means getting a "deal" most likely won't happen, "multiple offers" is more likely. We have to deploy different strategies in a new market. Not all areas are showing low inventory levels. I've noticed Santa Clara, parts of West San Jose bordering Campbell/Santa Clara, Campbell, Fremont, Belmont, San Ramon seem to have Single Family Homes that have been sitting on the market for a longer period of time than usual. Some of these may need some work, but that is a way to get an under priced home and pour some investment to fixing it up.

2011 Q3 Real Estate Update

2011-08-18T22:17:00.000-07:00

2011 Q3 Real Estate Update

Looking back at Q2 of this year, real estate activity was already equaling that of the entirety of 2010. What is even more amazing is that Q3 has kept me busy beyond what I had imagined and there is no end in site. The bottom line is that Buyers are buying and not enough Seller's are selling. Real Estate in the Bay Area has been on fire to date.

Micro Economy Santa Clara County

We are in the heart of technology and this sector is leading the US economy. Anything social was getting funded this year with most of them founded in the Silicon Valley. A foreign investor told me that it seemed that the United States showed activity in New York, Los Angeles and the Bay Area while the rest of the United States is stagnant or in decline. I would agree with this assessment. We live in a unique pocket with Buyers and Sellers taking advantage of the low interest rates across the country to fuel this micro economy that we all live in. We have always had low supply in the Bay Area and there are new migrants of Tech workers arriving here for work everyday with the dream of home ownership. With the upcoming Technology IPO's there will be more money flowing around the valley and real estate will be on the top of minds.

Analyzing Single Family Homes in Santa Clara County, since December of 2010 there has been a non-stop tight race between Pending and Active home sales. Recently Pending homes have been exceeding Active homes which explains the overall low inventory level of homes I've been seeing. Analyzing Condominiums and Townhomes, since February of this year Pending homes have been exceeding Active homes again showing a clearing out of inventory in that class of homes as well.

Overall low supply and high demand is causing the return of multiple offers and I had to stand in line at a new home development on the release morning. It's not the year 2000, but it is slightly reminding me a little of those days.

Macro Economy United States

The US downgrade and concerns on Europe are causing much uncertainty in the market place. The stock market has been in a free fall so we'll have to see how this shakes out. However, there is good news, I've seen interest rates go further downward in the last few weeks. An article today stated that interest rates are the lowest in 50 years. Also the Fed has indicated it will keep rates low as well to try to send some security to the marketplace. The question specific to the valley is how will factors of the Macro Economy affect Venture Capital funding into technology start-ups and ultimately affect companies looking to liquidate and enter the public market place. Also how does consumer spending as well as enterprise spending affect companies in the valley from a Revenue and Cash Flow perspective. This will all trickle down into how much the average worker like you and I have to spend on housing. I do wish our politicians would be able to compile and execute a viable solution to our debt problem but it it not looking as if this is the case.

Hidden Jewels

- There is a subdivision of 4 new homes I've been watching for over a year. It's located in Mountain right on the border of Varsity Park/Los Altos border going between $1.15M to $1.4. The schools are Mountain View schools though but an opportunity nonetheless. Let me know if you are interested before they are released.
- There is a new Townhome development in which I really like the 3 and 4 bedroom models in the middle of the Bay Area, ask me about them!
- There is a new Santa Clara townhome development that I am keeping an eye on, ask me for more details

Top Award in June

Again it is thanks to your trust and referrals that Keller Williams awarded me the Top Associate in Closed Volume, Closed Units and Written Volume. Thank you for all your support over the years and I continue to look forward to supporting you in your Real Estate needs.

Home Sales in Q3

I always like to give my clients real data from the market so you can gauge for yourself how things are going.

- 717 Madrone in Sunnyvale - Beat out 7 offers and did not overpay! It's all about having the right strategy that varies per home
- 107 Holly Terrace in Sunnyvale - Bank owned foreclosure sold to my Buyers under the comparable prices, picked up after another Buyer decided not to proceed
- 1343 Sarita Way in Santa Clara - This listing was in Sale Pending when the kitchen caught fire and we had to re-model and repair the inside. The local mailman went beyond the call of duty and saved the day! Check out the video! http://sanfrancisco.cbslocal.com/category/watch-listen/video-on-demand/?autoStart=true&topVideoCatNo=default&clipId=6079667. Happy to say that after all the re-modeling and coordination, the home is now SOLD!
- New Home Development (x2) - Most popular plan in this new community sold to 2 sets of my Buyers. One home was part of a first phase release which typically always have the best prices, we moved fast and secured the home. The second home I had to stand in line for 2 hours before opening on release day and beat out at least 3 other interested parties in line for that exact unit

Conclusions

There is a-lot of uncertainty in the global economy over the last few weeks which is some cause for concern. Up until that point, Bay Area real estate was recovering nicely in Santa Clara County especially homes close to companies. Inventory remains generally low. We will have to monitor how the Macro Economy affects our Micro Economy. My advice if you have a stable job take advantage of the low rates and get out of that increasing monthly rent. If you are a homeowner call me so I can assess where your home is at and whether you should hold steady or sell at this time.

Again thank each and everyone of you for your business over the years and all the referrals you have entrusted me.

Sincerely,

Alan

Keller Williams 3 Top Agent Awards!

2011-06-02T23:11:00.000-07:00

3 Top Awards Last Month

Again it is thanks to your trust and referrals that Keller Williams awarded me the Top Associate in Closed Volume, Closed Units and Written Volume. Thank you for all your support over the years and I continue to look forward to supporting you.

Just Listed 1343 Sarita Way in Santa Clara

3 Bedroom, 2 and a half bath Townhome with 1,845 square footage. Largest floor plan just steps from the pool quietly situated near the center of the community. Elegant kitchen with newer cabinetry and granite counter tops. Pergo floors through out the property and as well as two-toned paint. Spacious backyard and ample parking for entertaining guests.

I'll be hosting an Open House Saturday and Sunday from 1:30PM - 4:30PM. Come visit me!

Click this link for further details:

http://alanwangrealty.com/PropertyDetails?fl_hook=1494628562&show_description=yes&show_address=yes&presented_by=yes&show_virtual_tour=yes

Sold Single Family Home in Menlo Park

Congratulations to my clients who closed a lovely home in Menlo Park. 3 bedroom, 2 and a half bedroom home build from the ground up. For more new home developments ask me for more details!

Wishing everyone a happy June and as always let me know if you have any real estate needs.

Regards,

Alan

Wonderfully Located Upgraded Townhome in Santa Clara for a Great Price!

2011-05-31T11:00:00.000-07:00

Largest upgraded floor plan just steps from the pool. Elegant kitchen with newer cabinetry, granite counter tops, pergo floors and two-toned paint. Location, Location, Location! Quietly Positioned at the Center of the Community Steps From the Pool!

Property Highlights

- Kitchen Upgraded With Granite Counter tops and Newer Cabinetry
- Pergo Hardwood Floors Throughout
- Elegant Two Toned Paint & Recessed Lighting in Key Areas
- Walking Distance to Award Winning Schools
- Spacious Backyard for Entertaining Guests
- HOA Dues of $421 Include Water, Exterior, Pool and Front Yard Maintenance
- Convenient access to 101, 237 and Lawrence Expressway

http://alanwangrealty.com/PropertyDetails?fl_hook=1494628562&show_description=yes&show_address=yes&presented_by=yes&show_virtual_tour=yes

2011 Q2 Real Estate Update

2011-04-23T13:47:00.000-07:00

2011 Q2 Real Estate Update

As we approach the end of Q2 this year, I wanted to send on my latest update on the real estate market. As predicted in my 2010 year in review, this year has unfolded as forecasted. Buyers have moved on homes in spades since the New Year. I spent some time in my loan processors office and they have so many files which is clear evidence that our local market is picking up on the buying side. I remember a processor saying that "this is the last year to buy," I fully agree with this statement for you deal hunters out there.

Within my own client base, 1 home closed earlier in the year, 3 of my clients closed on their homes in the last 2 weeks with 2 more homes are in pending and will be closed in the next 2 months.

If you are a Buyer I would suggest not waiting too much longer! Spring has begun and there are fewer homes during this time and Buyer's are starting to emerge. The summer will bring more homes but also more Buyers who will look to move their children during this time to match the summer holiday.

Santa Clara County Inventory Update

I did a study of the trends since the recession over the last few years. I discovered that the Santa Clara County market recovered in May 2009. This is we when the Active homes met the Pending homes and from that inflection point onward, Actives and Pending have maintained a normal distance between each other whereas prior the Active homes were much higher than Pending homes. Inventory was clearing up until May 2009 which is consistent to how busy I was after May 2009 and idle prior to that point in time.

Market Update on Homes in Great School Districts

The old cliche of "Location, location, location" continues to hold true. Homes in Great School Districts are simply on fire overall. A Cupertino home a few weeks back sold with 10 offers and another with 17 offers! Part of the reason is that agents may price homes lower than the comparable prices, the other part is simply the demand driving homes prices onward and upward. Homes that are heavily upgraded and in move-in condition, will generally sell with more offers than a home that needs to be re-done. Either way multiple offers will be prevalent. Ask me how to win these homes, I've won 2 already and we didn't overpay. I've been able to differentiate my clients to beat out multiple offers, ask me how!

Good Elementary Schools

When I say good, I mean schools in the upper 800 API's to possibly lower 900's. There has been slightly a few more homes in these areas that have been on the market. It is unclear why, but if elementary schools are your focus at this time in your life, this maybe an opportunity for you to have your kids get through elementary school, build up equity, save money to make your next move into a better school district if that is your goal down the line.

Market Update on Homes With No School Districts

I've noticed that homes without supporting schools have been fairly slow. There maybe opportunity here for you if you are not looking for schools at this time.

Macro Economy

As the Fed's Quantitative Easing 2 comes to a close, there are questions as to whether the Fed's will possibly raise interest rates. With rising pricing overall, there are inflationary concerns with the rate as low as it is. Even with low rates, the rest of the country's real estate market is still in shambles. We are in a micro-economy here where the job market is strong, led by the Tech industry who are hiring for the latest wave of the Social Web. There is another side that says once Quantitative Easing 2 ceases that our economy will falter due to the amount of debt and money press that has been occurring. There is no crystal ball so anything is possible.

Interest Rates

Rates have calmed slightly from their rise in December. My clients have seen rates from 4.875% to 5.25% of late. It is unclear what the fed's will do to the lending rate which eventually will hit mortgages in the longer term. That being said, even a rate of 6% would be much better than the 12% my parents paid in the 80's for their mortgage.

New Home Development Phase 1

Ask me about a new home development with homes starting at $1.5M for homes from 2,700 square feet homes with 8,000 square foot lots in a great area! Get in on the first phase, prices will rise after each sale in a great community of 50 homes. Schools are in the upper 800's.

Highlights From Recent Transactions

Recently Sold & Pending Homes

- 1390 LLOYD WY, Mountain View, CA 94040 - SOLD! Single Family home in Mountain View Varsity Park area at the Los Altos border. Home required a re-model but still had one more over bid that beat us in price but I had other ways to differentiate my clients that put us in a winning position. As I mentioned a home not upgraded will not draw as many bidders as a re-modeled home. Still pleased to get this home in a great location with Los Altos Schools! An example that just because another competitor has more money, there are other things that could make a greater difference depending on the situation. - Property Details

- New Home Development, Mountain View's Varsity Park! - SOLD! My clients moved into this wonderful new home development in the sought after Varsity Park going to Los Altos Schools. There is only one more model left ask me where and I can negotiate for you.

- 1684 MARCO DR, San Jose, CA 95131 - SOLD! If you don't need schools right now, this is a great example of an opportunity for you. Over $30,000 under comps, where you can get a Single Family Home re-modeled within 25 years of age for $562,000! A brand new townhome development within 2 miles was selling for $510,000 and for $50,000 more we got a Single Family Home what a great value!

- New Home Development, Sunnyvale, CA 94089 - SOLD! A brand new Townhome bought in the first phase and subsequent prices have increased. Again I always like to get my clients in the first release so you can ride the incremental price increases thereafter! Ask me where this is and if this would fit your family!

- 10535 FELTON WY, Cupertino, CA 95014 - SALE PENDING! A Single Family Home Rebuilt 2 years ago sold for the same price as comps of the same size that are 40 to 50 years old! That is immediate value! I had to competed with 3 other offers but came out on top again due to being knowing how to differentiate my clients better and not overpay.

- New Home Development, Menlo Park, CA - SALE PENDING! This home will close in the month of May as the home was bought during a down market and has already sold out.

Closing Thoughts

Many people ask me high level questions about real estate, but the truth is it always depends. It depends on where you own your house, how much you want to spend and what your values are. Once I analyze those components that make up your dream, I can tie those back to the reality of the market and your budget most importantly. Schedule an appointment with me to explore those dreams and let me help you or someone you know who has real estate needs. Here's to a great Q2 , Q3 and onward!

Again thank you all for your trust and referrals in my 8th year in the business!

Regards,

Alan Wang

Real Estate Industry Survey

2011-03-08T00:24:00.000-08:00

Fellow Realtors and real estate enthusiasts. I'd appreciate some help in filling out a survey for my MBA course. The survey link is here, please forward this onto your real estate contacts. I appreciate all of your help!

Survey link: http://tinyurl.com/4lg8ntf

IBM Thinkpad PC to MacBook Air Migration

2011-01-12T10:30:00.000-08:00

3 years ago I tried to move from a PC to a Macbook and I struggled to the point of utter frustration. Folks know me as a pretty loyal PC user especially towards IBM Thinkpads. It was easy to fallback on the comfort of what I've been using since I was a child (yes DOS CLI and Windows 3.1 onward). It seems that it is harder on folks who are used to Windows than someone that starts fresh.

This time around I requested a Mac expert to give me a 15 minute quick start and I have to say that was invaluable. He showed me the equivalents on Mac; Explorer = Finder, System Preferences = Control Panel and the Applications folder. Also more importantly all the shortcut keys fn F8 - F12, etc. Another useful one is the Ctrl right bottom corner of the mousepad to right click. Figuring out the 2 finger scrolling and and 3 home and end scrolling really sped up my user experience. Then of course Mail, Calendaring, IM and VMware access.

With this quick start, the ease of us of the Mac took itself away. Right off the bat as I had my PC and Mac side by side, the Mac's multi-tasking ability (thanks to the good old Unix backend) is superior to the PC. On multiple occasions my PC was frozen and rebooting, the Mac continued to run seamlessly. We'll see in the long run if it can sustain this level of performance but so far so good. Since more and more applications run on the web/cloud/saas, there is less of a need for me to have windows specific software, though the ones I need all have a Mac installation.

MacBook Air Wins

- Sleek design and weight hands down excellent
- Stabilility - Thus far much more stable then a PC
- Faster Performance - Though lags occasionally still superior at this juncture
- Printer Setups - Very easy on any printer on the network including home!
- Mail Setups - Easy on every client, Entourage (bit slow on updating mailboxes), I am using Apple Mail now which performs well
- Calendaring - Took a little getting used to but decent on iCal
- Adium - Is an awesome IM tool, much better than Pidgin for IM's and Trillian for IRC on the PC. It's simple to setup and seamless to chat on this interface
- VMWare Fusion - I almost defaulted back to Outlook on the VM but found that iCal and Apple mail perform sufficiently so that I don't need to use calendaring or fallback to Outlook. Remember it's fn + control + alt/option + delete to unlock the desktop to login. I have not had a need to use the VM. But the VM provides a very nice native feel to using Microsoft application if a need ever arised. You could also allocate one of your workspaces for your Windows applications if so desired.

MacBook Air Shortcomings

- Disk space 128GB is a bit on the low side. I moved my documents and critical files over and I only have 40GB left (Did not migrate my Outlook pst file). I hoard e-mail beyond what the Outlook server allows and I move it locally to store in case I need it for the future. If I migrated these mailboxes, space would be chewed up very quickly. My concern is if folks need native applications to do their jobs there may not be enough space as well.- Does not allow me to dual screen on my 2-24 inch monitors- Lack of some kind of dock as I dock frequently at work and at home (no home solution yet)- Battery Life - It's not bad for the size of the computer but I've managed to get as much as 5 hours or as little as 4 hours if I am constantly working on the machine- I've heard complaints on the Network jack extension needed, I haven't had a need for it but with spotty wireless or need for faster download/upload times I understand the possible need for this

The Bottom Line

I will be keeping the MacBook Air and saying goodbye to my PC, I don't think that I can ever go back. It's a whole new world!

Real Estate 2010 Year in Review

2011-01-03T08:14:00.000-08:00

Real Estate 2010 Year in Review

I wanted to wish you and your families a Happy New Year! I first and foremost wanted to thank each and every one of you for your trust in your own transactions as well as your referrals. It is because of you that I am able to sustain this business through very difficult economical times.

The first question I am typically asked is the status of the Bay Area real estate market. Most people expect a pessimistic answer but they are often surprised by my reply. I continue to see 2 markets; areas with good school districts and areas without. Many of my clients have been competing for homes in Los Altos, Cupertino and Mountain View and each time I have been met with 5 to 10 offers on these homes extending beyond the list price. Even homes with high API elementary schools have been competitive, with low overall inventory levels for these locations. On the other hand homes not supported by schools have generally seen less activity especially town homes and condominiums.

Interest Rates

Interest rates saw some lows down to 4.5% for conforming jumbo loans, but have now increased in the last 2 weeks closer to 5%. It will be interesting to see what interest rates will do in the New Year but still very attractive interest rates nonetheless. It is unclear why the mortgage rates are on the rise, some are tying this to the recent action by the feds that Ben Bernake calls "Quantitative Easing" which was supposed to help the economy but maybe having the opposite effect on rates. We will look towards 2011 to see what the rates do.

The Bottom Line

The bottom line is that if you are living in one of these locations supported by a great school district it is a sell opportunity. If you are looking to buy in one of these locations, don't expect a deal, come in strong on terms, price and be able to close fast. If you are living in a location that is not supported by schools or in a condominium or townhome, I would generally say hold for now, unless you have a ton of equity we can evaluate your situation. If you are a Buyer that is looking to purchase in a non-school supported area or a townhome or condominium, this is a great buy opportunity. These are general trends I am seeing, be sure to meet with me to analyze your particular home situation.

2011 Outlook

Buyer's will continue to pursue homes in good school districts as they always had, however most recently my Buyers of the second market have began to inquire on homes. I expect that in 2011 both markets will continue to purchase real estate and lead the Bay Area market through a slow recovery.

Home Sales

2649 Media Way in San Jose - Multiple offers sold to my Buyers
1104 Castleton Way in Sunnyvale - Sold $50,000 under list price to my Buyers
608 Angus Drive in Milpitas - Listing sold with multiple offers
3436 Chemin de Riviere in San Jose - Multiple offers sold to my Buyers
20211 Merida Drive in Saratoga - Listing sold with multiple offers
309 Homewood Lane in Menlo Park - Negotiated a low price for my Buyers
593 Angus Drive in Milpitas - Listing sold pre-market to my Buyers
Marilyn Drive in Mountain View - Negotiated a great price and package for my Buyers

Here's to 2011!

If you, your family or friends have any real estate needs please don't hesitate to contact me. I am always ready to assist you in any way possible. I wish you a prosperous 2011!

Happy New Year!

Regards,

Alan

August 2010 Real Estate Update

2010-08-06T10:22:00.000-07:00

August 2010 Real Estate Update

First off I apologize for not writing for such a long time. If it is any consolation, I have been busy helping folks buy and sell real estate since Q4 of 2009 and it hasn’t slowed down since. For those of you that want real time market updates from the field, I have been micro-blogging much more often than I have time to blog so follow me on Twitter http://twitter.com/AlanWangRealty.

Repeat Top Associate Closed Volume Award

Big thanks to each and every one of you for referring me to your friends and family for their Real Estate needs. You have all helped me earn the Top Associate in Closed Volume for the second year in a row out of an office of 450+ agents. Again thank you all for remembering me as the primary contact for your Real Estate needs!

Exclusive Featured Saratoga Home

I like to give my clients first dibs at homes before they hit the marketplace especially one as competitive as Saratoga with the Cupertino schools. The address is 20211 Merida Drive, Saratoga, CA 95070. The property has 4 bedrooms and 3 bathrooms with 1,616 square feet of living space. Property sits on an enormous 10,000 square feet lot. The home is fully re-done with pergo hardwood floors throughout the property, newer kitchen cabinets with granite countertops. Where there is no pergo there is marble and bathrooms are filled to the ceiling with granite and marble flooring. This homes goes to the coveted schools such as Blue Hills Elementary, Miller Junior High and Lynbrook High School the best of the best! After an hour of posting this home on Facebook I already have 4 interested parties so move quickly.

Here’s a sneak peak at the home:

http://alanwangrealty.com/MyListings?operation=Details&listing_id=1214497814

Call or e-mail me for an appointment first come first served. Property will go on the market 8/15 so move quickly!

Other Pocket Listings

Pocket listings are homes I have not put on the MLS yet usually due to timing, but my Sellers are definitely willing to work something out, let me know!

Milpitas – I have a rare Beresford Estate property, 3 car garage, 4 bedrooms, 3 bathrooms, 2,590 square feet, 6,500 square foot lot, 14 years of age that will go on sale in January or sooner. If you are interested let me know!

Whisman Park Station – I have a possible newer Whisman Park Single Family home 4 bedrooms, 2.5 bathrooms, 1,839 square feet on a 5,529 square foot lot, 12 years new. The time line here is unknown but we can discuss this with the Seller’s if you are interested.

Homes for Rent

Grapevine Terrace for Rent – If you know an executive who is looking for a beautiful home with views of the city and views of Mission Peak, I have a 4 year new 6 bedroom, 6 bathroom, 7,102 square foot home on a 21,780 square foot lot with a 6 car garage. Let me know if you have anyone interested in this property for rent! http://alanwangrealty.com/MyListings?operation=Details&listing_id=1392835656

Market Update

As predicted in my previous blog post Real Estate in 2010 has continued to pick up in Santa Clara County. You may be asking how is this possible when there is only doom and gloom in the news? Remember that real estate varies by market and in the valley where there are companies, jobs and a new start-up funded everyday; limited supply will continue demand for real estate. This spells opportunity as rates remain at all time lows to jump start the rest of the country, we should take advantage here. My client just locked a 4.875% conforming jumbo loan (up to $729,000) for a 30 year fixed! This is an amazingly low rate I wasn’t even able to get during the worst times in the recession.

Currently the major activity is in areas that have strong overall school districts from elementary to high school. I suppose the question is has this area ever slowed down? They did briefly but not by a whole lot. These are areas such as Fremont (Mission District), Saratoga, Palo Alto, Los Altos, West San Jose and Cupertino you would think we were in a bull market as there is low inventory and multiple and often cash offers! In my opinion always a great investments and it would appear almost recession proof.

I am also seeing activity in areas with good elementary schools such as Willow Glen, Cambrian, Sunnyvale and parts of Mountain View. Milpitas has seen some slowness even with the support of good elementary schools, there could be some opportunity in this city until folks catch on.
Areas without the supporting school districts are not doing as well at this time. Same goes for Townhomes and Condominiums are struggling in this market as buyers are focusing their sites on Single Family Homes. The further you go from the Bay Area the better the deals but the old cliché is true, real estate is about location, location, location! If you and your family has made the decision to send your kids to private schools and don’t want to compete in the public school arena, there are nice areas with newer homes for affordable prices ask me about those areas!

Real Estate Activity Summary 2010

2649 Media Way in Willow Glen – Sold to my Buyers against multiple offers
1104 Castleton Way in Sunnyvale – Negotiated $50,000 under list price for my Buyers
3436 Chemin de Riviere in Evergreen – Beat out 3 other offers and still came under list price
2928 Calico Common in Livermore – Brand new home sold to my Buyers!
New Home in Menlo Park – Negotiated $50,000 off list price for my Buyers!
New Home Builder Mountain View – Negotiated $30,000 off list price and $50,000 in incentives for my Buyers!

Remember before you walk into a new home development bring your Realtor on your first visit so he can negotiate on your behalf! Otherwise he can’t help you in the process!

Living Trust

For those of you who have not done so already, I recommend you spend $1,500 to $2,000 and get a living trust setup for your estate. A trust makes it so that if you and your spouse pass, assets will be managed by a Trustee you assign. The alternative is that your estate goes to probate and by the time all the lawyer fees are paid, most of your estate will be gone. More importantly a trust can instruct who your children will go to in case you pass away. Health care directives can be made part of this as well.

Wishing you and your families a wonderful first half of 2010! May the rest of the year be as fruitful as the beginning!

Sincerely,

Alan

Alan Earns Keller Williams Top Associate in Closed Volume for 2010!

2010-07-15T22:56:00.000-07:00

I wanted to extend a big thanks to all my clients for your referrals and business over the years. For the second year in a row only with the help of your referrals I have earned the Keller Williams award for Top Associate in Closed Volume for 2010 and earning this 2 years in a row! This is an extreme honor as there are over 450+ agents in my office and currently I am in the top 5 at the office. This could not have been possible without your trust and referrals. I wanted to take a moment to thank each and every one of you for your business.

I will be posting a mid 2010 update shortly, apologies for the radio silence, I have been busy making sales!

2009 Bay Area Real Estate Review

2010-01-02T09:57:00.000-08:00

First off I wanted to wish you and your family a Happy New Year in 2010! May 2010 be a prosperous year! I wanted to extend big thanks for your referrals and making 2009 a record year for Alan Wang Realty. I appreciate your trust in allowing me to service the real estate needs for you, your family and your friends and it is your help that has helped me to get through these trying times.

2009 Real Estate in Review

Macroeconomic Environment

2009 has been a year to remember in Real Estate in one of the toughest economic times for the United States with major highs and major lows. The Bay Area real estate market struggled from mid 2007 with the subprime crisis until Q2 2009 and picked up steam in Q3 and came roaring back Q4 of 2009. The reason was primarily due to government tax incentives for resale and new home developments and interest rates as low as 5% for conforming jumbo loans. There has also been a pent up demand since mid 2007 as Buyers were too nervous about their jobs and the market to make a move. In the meantime families have grown and life has squeezed people out of tiny apartments to fulfill that housing need.

Santa Clara County

There is generally low inventory in Santa Clara County which has also created more demand for homes.

I’ve noticed a pickup in activity on the high end homes with good school districts. West San Jose, Cupertino and Saratoga have seen on average 5 offers for homes in the Lynbrook and Monta Vista High School areas. In Palo Alto I have seen on average 10 offers to even a high of 20 offers for a recent sale for Palo Alto and Gunn high schools. There are lots of all cash offers with 1 week closings in these areas. In Los Altos the higher end homes are also seeing on average 4 offers many all cash as well. If you are in the neighborhood of such a home, ask me how to make your offer the strongest to be able to compete with these all cash offers.

On the other end of the spectrum I’ve also seen a pickup on homes less than $400,000. Investors are out in the previously foreclosure heavy East San Jose, I have seen as many as 80 offers on $250,000 Single Family Homes that end up selling for $100,000 or more over list price. Condominiums in this range are also moving due to FHA loans. There is heavy demand in these areas due to the prices and affordability of homes as well as investors looking to invest.

The homes in the middle rung without the support of a strong school district have seen some slowness, but are recovering slowly but steadily. Areas outside of the immediate Bay Area Santa Clara County are still struggling.

Alameda and San Mateo Counties

Generally I am seeing very nice homes in the Fremont Mission area that have homes available and generally slow outside of Mission. San Mateo County has seen some pick up in certain higher demand areas, but homes tend to sit a bit longer in these areas as compared to Santa Clara County.

2010 Outlook

I don’t have a crystal ball but I anticipate the pent up demand from mid 2007 to continue through 2010. My hope is for an increased inventory of homes in 2010 to fulfill this demand. A-lot depends on what the government does with their tax incentive programs. Anytime government intervenes there will be an artificial increase in demand which undoubtedly could create a bubble once natural order is restored. Foreign investors are flooding our area with safe cash investments in real estate which increases demand as well. The key would be to get into this on the early side before everyone jumps in and catches on and hold on for the long term as real estate should be for the long run. All in all the government seems to be doing their part in jumpstarting the economy and backing the banking system.

My expectations for rates to stay steady but slowly increase through 2010 still within reasonably low levels. The Bay Area has always been a resilient real estate market. If you stay close to the companies, anchor yourself with a good solid area, or better yet a school district you will be in a low supply and high demand location simply due to the population and supply of homes. I see us recovering slowly and steadily in 2010 which will trickle over to surrounding neighborhoods.

For those of you that own and want to know your home value, please contact me for a Competitive Market Analysis and I can advise you on what to do with your specific situation.

Homes Sold in 2010

Again thanks to you for your business and referrals, I was able to sell more homes in 4 months than any other year in my career. Thank you for all your support!

2621 Grapevine Terrace, Fremont
7101 Camino Tassajara, Pleasanton
3240 Murdoch Drive, Palo Alto
968 Amstutz Drive, San Jose, CA
4670 Castlewood Drive, San Jose
607 Valley Forge Way #4 in Campbell
2928 Calico Common, Livermore

For more details on these sales please proceed to http://alanwangrealty.com/ and click on Featured Listings.

Happy New Year

Again I wanted to wish you and your families a Happy New Year. If you or someone you know require Real Estate advice or have any Real Estate needs please do not hesitate to e-mail me at alan@alanwangrealty.com or call me at (408)313-4352. It is with your support that I can continue to sustain this business during tough economic times.

As things move faster I am finding less time to blog but follow me on Twitter for real time real estate updates! http://www.twitter.com/AlanWangRealty

Sincerely,

Alan Wang

Sold 3420 Murdoch in Palo Alto and 607 Valley Forge Way in Campbell!

2010-01-02T09:55:00.000-08:00

I am pleased to announce that my Buyers beat out 20 other offers to take 3420 Murdoch in Palo Alto and after a long negotiation 607 Valley Forge Way #4 in Campbell has also sold!

Wishing everyone a very happy New Year!

Sale Pending on 607 Valley Forge Way #4!

2009-11-13T15:18:00.000-08:00

Witihn days we had 1 offer that didn't work out and a week later a second offer that has moved this property to Sale Pending. Thanks for showing!

Just Listed 607 Valley Forge Way #4 in Campbell

2009-11-06T01:13:00.000-08:00

607 Valley Forge #4 in Campbell has just been listed for $275,000 and an offer in hand! Please send your offers to me ASAP!

I am proud to present a brand new listing in 607 Valley Forge Way #4 in Campbell! The property has been completely remodeled please forward this to any of your friends and family who may be interested.

Here are the specifics on the property:

http://alanwangrealty.com/PropertyDetails?fl_hook=1332762123&show_virtual_tour=yes&show_description=yes&show_address=yes&presented_by=yes

List Price: $275,000, 2 Bedrooms, 1 Bathrooms, 840 Sq Ft, 1742 Sq Ft Lot- Fully Remodeled With Over $30k of Upgrades Move in Condition!

- Pergo Hardwood Floors Throughout, Newer Cabinetry, Granite Countertops, Appliances, Recessed Lighting, Two Toned Paint and Partially Tiled Floors

- 2 Bedrooms, 1 Bathroom Condominium in Campbell, 840 Sq Ft With a 1,742 Sq Ft Lot- Private End Unit on the Second Floor With Oversized Balcony for Entertaining Guests

- Parking Steps Away From the Front Door and Plenty of Street Parking- Low Association Dues at $240 p/month. Amenities Include Hot Water, Garbage, Exterior Paint and Common Area Maintenance

- Quick Access to San Tomas Expressway, Highway 17, 85 and 880

Alan Wang's Twitter Feed!

2009-09-08T23:53:00.001-07:00

As you have noticed I have been extremely busy helping clients buy and sell Real Estate that I have not had time to keep my blog up to date. I am experimenting with a Twitter feed to be able to keep you up to date quickly yet with minimal impact on my time requirements. Please follow me today!

http://www.twitter.com/AlanWangRealty

968 Amstutz Drive in San Jose Sold!

2009-09-08T23:47:00.000-07:00

968 Amstutz Drive in San Jose was sold for $693,000 with 5 offers. I had the opportunity to also represent a wonderful Buyer as well. This property ultimately sold for $7,000 under list price which is well in-line with the comparables that surround this property.

968 Amstutz Drive Available Again!

2009-07-19T12:06:00.000-07:00

968 Amstutz drive had an offer the Monday after the first open house and went into pending very quickly. However the Buyer's loan did not go through and the property is now back on the market1 Those of you that missed this property the first time, it is back on the market!

Since there has been so much interest in the property, we have provided more time for Buyers to preview the home.

Join us for an Open House Sunday July 19th from 1PM to 2PM and also July 25th and July 26th from 1PM to 2PM. Offers will be reviewed on July 27th by 5PM. Please e-mail offers to alan@alanwangrealty.com or fax to (408)516-9325.

Disclosures and inspections are all available contact me for more details!

Just Listed 968 Amstutz Drive San Jose 95129

2009-06-22T23:08:00.000-07:00

Single Family home in coveted West San Jose for a bargain price! Property was babied by the owner; move in ready and attain the dream of owning a home with an ample front and backyard space for a great price!

Highlighted Features:

- 3 Bedroom, 2 Bathroom, 1,371 Sq Ft Living Space
- Spacious 6,300 Sq Ft Lot
- Refinished Original Hardwood Floors Throughout Majority of Property
- Spacious Living, Dining and Family Rooms
- Kitchen with enormous counter surface area as well as breakfast bar
- 2 Fireplaces in Living and Family Rooms
- Private Unit Nested on a Quiet Street
- Schools: Easterbrook Discovery (K-8), Prospect High School
- Quick Access to Lawrence Expressway, Saratoga Avenue, Highway 280 and 85

Call me at (408)313-4352 or e-mail me at alan@alanwangrealty.com for more information!

April Real Estate Update

2009-04-01T23:33:00.000-07:00

Market Summary

It has been a turbulent time in the real estate market for every single one of us across the nation, but there could be small signs of relief. It has been a tough market for the last year and especially in the month of October. Many folks are nervous about the economy, job security and the overall situation at hand. On the real estate front I am seeing some better news to report.

In the last few weeks and there has been an uptick in buying activity; agents in my office are writing offers as well as many of my clients. A client of mine put an offer on a house that was relisted and to our surprise the home sold at list price in a very short period of time. Another investment property for a separate client had 5 offers, all of which were countered. Investors and a contingent of Buyers seem to be cautiously seeking out deals in the market place. Homes under $500,000 have been seeing competition even multiple offers and I am seeing some activity in ranges higher than $500,000 as well. These are faint indications and hardly any sign of a grand recovery. The next few months can help us gauge if this is a trend or just an outlier. If you have been on the sidelines, now maybe the time to start thinking about taking advantage of good properties in the marketplace.

An interesting article on rising home sales in February in the New York Times:
http://www.nytimes.com/2009/04/02/business/economy/02econ.html?hpw

By chance I was at my local bank and walked over to ask what the mortgage rates were for the day. In my career I have never seen my bank have rates even comparable to what my loan agents find in the marketplace. To my surprise the rate that was being offered was extremely low. Mortgage rates are at their lowest ever recorded by Freddie Mac and Fannie Mae and it shows! Call your loan agent, call a few banks and go with whichever group has the best rate for a refinance or purchase.

An interesting article in the Mercury News that these are the lowest rates every recorded:
http://www.mercurynews.com/realestatenews/ci_12005655?source=email

New Loan Breakdowns

It used to be that anything above $417,000 was considered a jumbo (and below is a conforming loan). Today there is an intermediate loan product called a jumbo conforming which handles loans between $417,000 to $729,750 which still has decent rates. Any loan amount above $729,750 is considered a jumbo loan and rates are much higher than either conforming or jumbo conforming products. Second loans are pretty much no longer in existence, the model of private mortgage insurance has returned. For those of you who have a 1st loan you do not plan to refinance, some good advice given to me was to take out an equity line of credit (while in a good job situation) which has low rates currently for emergency situations.
Check with your loan agent, accountant and financial advisor to ensure this strategy makes sense for your circumstance.

Reminder Property Tax is Due April 10th

Just a reminder that property tax in Santa Clara County is due on April 10th! There will be a penalty if you pay past this date. Go to http://www.scctax.org/ or call the County of Santa Clara at (408)808-7900.

Beware of Mortgage Foreclosure Consultants

There are legitimate Mortgage Foreclosure Consultants out there, but there have also been many fraudulent companies in these tough times. Mortgage consultants are not allowed to collect any upfront fees until services are fully rendered; this is the first and most common indication that this is a questionable company.

Long Term Investments

It is critically important to step away from the short run and focus on the long run. Any investment should be a long term investment. We have seen time and time again that the economy is cyclical but trends tend to be overall upward in the long run. Position your real estate property for the long run and ride through this turbulent time. If you have an opportunity to do so, it maybe time to buy a property at this low point, so that you can take advantage of the upside once it returns.

If you or someone you know needs Real Estate help, I will do all that I can in my power to assist them.

Mortgage Rates Drop and Another Short Sale Offer In

2008-12-04T09:22:00.000-08:00

Mortgage rates continue to drop with actions from the Fed. This is exactly what the market needs in order to jump start the housing market. Here is the latest article on the drop in rates.

http://www.marketwatch.com/news/story/Mortgage-rates-plummet-after-Fed/story.aspx?guid=%7BABAE25EE-C9D9-4937-A8FB-E58DDD989153%7D

Offer in For a Short Sale By Santa Clara University

Proof that Buyers are on the move, I just put another offer in for a short sale around the Santa Clara University area. The Townhome is way below market price even pre-1st release prices.

Mystery of Short Sales

In the initial stages of Short Sales, many banks and listing agents did not know the process on how to handle such transactions. Banks have now established short sale departments and the Real Estate industry adjusted to this new phenomenon. The trick? Lots of time and lots of patience. Submitting an offer can take as long as 2 months to get a response. Call or e-mail me today on the mystery of Short sales.

I hope everyone had a wonderful Thanksgiving!

Sale Pending and November Market Update

2008-11-20T20:33:00.000-08:00

Market Update

It is no secret that the economic situation continues to deteriorate. Job losses continue to be reported on a daily basis and consumers are cautiously watching their spending. Banks continue to hold onto cash and tightening on issuing of credit. Unfortunately, these activities are both needed in order to jump start the economy.

On a more micro economic level, in the Silicon Valley, there has been much more activity from real estate investors primarily on homes less than $500,000 in the conforming loan arena. Short sales and Bank Owned (REO's) are enticing investors to pick up these properties. These homes are actually competed after and bids over these low list prices are not uncommon.

The MLS now requires that when an offer has been submitted to the bank for a Short sale, the status must be change to Sale Pending even during the review period. Bank Owned (REO's) are more competitive. Banks will typically collect the offers and engage in a bidding process for the property. Of course the Bank Owned properties tend to have extremely low list prices.

My Buyer's are slowly coming out to pick up these good deals. Short Sales have been particularly attractive in the marketplace.

Sale Pending at Rivermark in Santa Clara!

Sold to the Buyers of Alan Wang, an amazing 3 bedroom, 2.5 bathrooms Townhome with 1,716 square feet of living space and a lot at 2,178 square feet in the highly desired Rivermark location. Offer in for $80,000 less than current market prices. Just a few steps to the park and the shopping center. Nicely situated, certainly a bargain.

Conclusions

Although things are grim in the marketplace, each person must make the right decisions for their families. If you are blessed enough to not be affected by the job situation and have been looking for a home, it is a great time to consider picking up a deal in the marketplace. If you are a homeowner, hold steady and if needed try to refinance any variable loans as required and plan to ride out this recession for the long run. Each person's situation will vary, please contact me if you would like a personal assessment of your real estate needs.

Rate Cut of .5% to 1.25% Lending Rate

2008-10-29T13:12:00.000-07:00

When asked for my predictions about future prospects, I often say that I don’t have a crystal ball. This has become clear when even our best and brightest such as Bernake and even Greenspan underestimated how intertwined our economies truly were, and no one in the world foresaw this crisis happening and at the magnitude that it has affected the global economy.

Why did this happen? When you sign those documents closing your home purchase, you sign a document that talks about what percentage of loans the bank you are signing with sells. The reason why Wells Fargo and Bank of America did not fall into the subprime mortgage mess is that they have followed the same high standards in qualifying their buyers and they tend to hold on to the loans that they make. It is in their best interest to qualify the right buyers for the long run. Many of the other lenders would sell a high percentage of their loans in the form of mortgage backed securities and it would no longer be their problem. This created less accountability and incentive to simply get volume. Subsequently mortgage backed securities were investments made by financial firms around the world. When it came time for these 1, 3, 5 year ARMS to be refinanced, already stretched homeowners found that home prices were not increasing, they could not refinance and even if they did, the monthlies were beyond their financial affordability.

This afternoon the fed reduced rates by half a point to 1.25% lending rate. They continue on trying to jump start consumer spending and the economy. It is yet to be seen if this will in turn lower interest rates on the loan side of the house. The concern is not the cost of money but banks that don’t want to issue loans in order to maintain liquidity.

That’s the 10,000 foot high level view, but bringing it straight down to the regular homebuyer what does this mean to us? I am seeing all types of price drops that fluctuate as much as 20% - 30% especially on bank owned properties (even higher in more questionable areas.) The main deals seem to be on condominiums and townhomes which have seen major hits. Most homeowners in the well situated neighborhoods are holding tight.

If they are selling the prices are inching down. Buyers are simply too nervous, can’t qualify and waiting for more of a drop before jumping in. If you are a home owner and have a secure job and finances, do not panic and ride out this downturn. As a homebuyer, it is time to really keep your eyes open for some great deals and if you can qualify for a loan take advantage of the low prices before other people figure this out. Recent articles have shown that home sales are rising in California, but primarily from people picking up these deals.

http://www.mercurynews.com/realestatenews/ci_10776102?nclick_check=1

Here are the most recent rates as of 10/28/2008:

Rates on 30 yr-fixed:

* Conforming - 6.375% (0 Pts)
* Conforming-Jumbo - 6.625% (0 pts)
* Jumbo - 8% with 1pt cost

If you have not already, be sure to ping me if you want me to keep an eye out for some good buys in the market for your home buying criteria. It is a great time to big up your primary home or even an investment property.

Mobile Real Estate Search

2008-09-16T23:29:00.000-07:00

For those of you on Windows Mobile, here is the following Mobile Real Estate search sponsored by Realtor.com.

http://labs.realtor.com/mobile/mobile.html

Reduced Interest Rates are Back

2008-09-11T09:56:00.000-07:00

I hope that all of you are enjoying a beautiful but warm summer in the Bay Area. I have had a-lot of inquiries on when lower mortgage rates will return for refinances and purchases. With the government bail out of Fannie Mae and Freddie Mac it appears the market has had some restored confidence at least for right now. Lower rates are critical for many Buyers who are on the fence on buying a property.

Reduced Rates

Back in May there was a quick dip to a 6% rate for a 30 year fixed loan and these lower rates appear to have returned. For those of you that were planning to refinance or make purchases it may be time to reassess your financials and determine whether you should consider refinancing or planning on purchasing a home.

Please consult your loan agent, or if you do not have one I highly recommend my partner for 5 years Mya Tran with Coldwell Banker. She can be reached at (408)472-7558 or e-mail directly her at mya_tran@yahoo.com for a personalized loan consultation.

For those of you that read the Mercury News here is the latest article on the subject http://www.mercurynews.com/news/ci_10430565.

Reduced Price 607 Valley Forge Way #4 by Over $41,000

607 Valley Forge Way has been reduced from $366,888 to $325,000. If you know of anyone who is interested in this upgraded condominium please forward this onward.

State of the Market

The market continues to have short sales converting into bank repossessions foreclosures. These are all dependant on area, the nicer areas are seeing slight dips from the surrounding areas. The subprime troubled areas are where many of the short sales and bank repossessions are occurring. There are gems to be found in the nicer areas on the Condominium and Townhome fronts. I have even been noticing that the newer Single Family Homes have been dipped below $800,000 for the first time in quite sometime.

Looking at the statistics the increase in Active homes listings has held steady while Pending homes have slightly increased and held steady.

These trends are not exciting trends but a note that folks are slowly reentering the market.
Please let me know if you or someone you know would like a personal assessment of your home situation. I am always available to serve you.

Latest Santa Clara County Trends

2008-09-11T09:47:00.000-07:00

Here are the latest Santa Clara County Active and Pending trends. There is a slight leveling in active listings and a slight increase in pending listings. This is showing some activity on the buying side and a steady influx of inventory.

For a full view please click here: http://spreadsheets.google.com/pub?key=p1vgWgrdqvl3IipOutFlhcA

Valley Forge Way Reduced Over $41K!

2008-09-11T09:43:00.001-07:00

607 Valley Forge Way #4 has been reduced over $41,000 to $325,000. This 2 bedroom, 1 bath condominium is heavily upgraded. If you know of anyone that is in the market please contact me! Furniture is included!

July 2008 Market Update, Sold 549 Ficus Terrace in Fremont and Upcoming Listing

2008-07-28T21:51:00.000-07:00

Sold 549 Ficus Terrace in Fremont!

549 Ficus Terrace has been Sold to the Buyers of Alan Wang! A brand new Single Family Home for $717,000! 3 Bedrooms, 2.5 Baths, 1377 Square Feet. There are still units available from the mid $600,000. Join my Buyers today!

Still Available for Another Week, 607 Valley Forge Way in Campbell!

1 more week left before this heavily remodelled condominium is pulled off the market. Don’t miss out on this excellent opportunity, Sellers are motivated!

607 Valley Forge #4 in Campbell has been reduced again to $349,000. We had two offers come through but we just could not meet at a common number. Since other Buyers have warmed up my Seller for negotiations please forward this to your friends and family and see if we can get an offer that would work for everyone!

Coming Soon Saratoga Home Zoned For Lynbrook High School

Contact me to get on the interest list for an upcoming Saratoga home in the next few months. 4 bedrooms, 3 baths and heavily upgraded. Have your children attend Lynbrook High School in the Fremont Union District!

July 2008 Market Update

The market has definitely been tough in recent months across the nation. Looking at Santa Clara County, we continue to see an increase in Active listings; however the good news is that we also see an equivalent increase of homes in pending as well. For example the amount of active Single Family homes this week was 5,459 with 1,866 in pending which means only 34% of the homes on the market are selling. Condominiums and Townhomes show 1,794 active listings with 600 in pending which is 33.4%. Neither of these numbers or rates of increase of pending homes show any change in the market in the near future. We are in a Buyers market and will be for some time.

The economy continues to struggle with rising consumer prices and tight lines of credit. Although the Fed has reduced rates you maybe asking yourself why have interest rates actually gone up? The Fed’s actions have had the opposite affect. Lowering the rate has caused inflation in prices and has not eased the ability to jump start the real estate industry as occurred in 2001.

The sub prime crisis has maid getting a mortgage extremely difficult. Banks are only funding the best of clients with high credit, 20% down payment and scrutinizing every line on the finances. There have been FHA programs but these are extremely painful to obtain and time consuming but do give folks a break on the down payment. The state of the financial industry and the sub prime issues has made obtaining funds very tight. The rates are extremely unattractive to prospective buyers.

Now inflation appears to be a risk and look to the fed to raise rates in the next few meetings or after the election. What does this mean for Buyers and Sellers? Sellers, unless you live in those prime real estate locations with a wonderful school district or elite area hold onto your home. Buyers, I would recommend keeping an eye open for good deals and also keep a watch on mortgage rates. Although 30 fixes are not attractive, obtaining a 5 or 3 year ARM maybe a temporary solution as we wait for the long term rates to come down if you see a property that you like.

Prices vary by location, so for an analysis on your area please contact me for any and all of your real estate needs!

Enjoy a beautiful summer in 2008!

Sale Pending Brand New Single Family Home For $717,000!

2008-06-25T09:30:00.000-07:00

Sale Pending on a brand new Single Family Home, 3 Bedrooms, 2.5 Baths, 1377 Square Feet at $717,000 sold to the Buyers of Alan Wang.

Yes it is still possible to get a brand new home for a great price.

Call me at (408)313-4352 or e-mail me at alan@alanwangrealty.com today for more details!

Why I Use a Loan Agent

2008-06-25T09:22:00.000-07:00

Many of us have very busy days working, schooling and spending time with our families. When it comes to loans or refinancing why spend your time getting quotes from banks on rates that change daily and between loan companies! In my lifetime I have had mortgage loans from over 8 different banks. Why you ask? The reason is that the bank that has the good rates today is not the one that will tomorrow. Rates and incentives change on a daily basis and you will need a Loan Agent to watch out this for you!

I recently had my loan agent watching rates for over 2 years. We finally got to the lowest rate the 30 year fixed has been at and as soon as I closed the rates shot up again. This type of timing and fast execution is not possible without someone in the industry shopping the rates for you on a daily basis.

For those of you that do now have a loan agent already, I highly recommend Mya Tran with Coldwell Banker who I have been working with for over 5 years. Please feel free to contact her at (408)472-7558 or e-mail her at mya_tran@yahoo.com.

Happy 5th Year Anniversary!

2008-05-16T10:38:00.000-07:00

April of this year was Alan's 5th Year Anniversary as a Realtor specializing in residential real estate! The success of the business would not be possible without the support and referrals of you as the client base.

I wanted to take a moment and thank you for your support throughout the years and I continue to look forward to your business in the years to come.

If you ever have any real estate needs or know of someone who could use my assistance, please do not hesitate to e-mail or call! I am always available to service you.

Sincere Thanks,

Alan Wang

Interesting Statistics on Single Family Homes in Escrow

2008-05-16T10:26:00.000-07:00

Here are the numbers for the week ending 5/10/08.

The following is considered the rule of thumb:

Buyers market if: Less than 25% of the houses in inventory are in Escrow
Sellers market if: 25% or more of the houses in inventory are in Escrow

Class 1= Single Family Homes Only as of 5/10/08:

Zone % of listings in escrow Active # of Listings
1 South County 14.1% 828
2 Santa Teresa 24.9% 139
3 Evergreen 20.5% 438
4 East Valley 16.2% 868
5 North Valley 25.1% 293
6 Milpitas 21.1% 168
8 Santa Clara 23.9% 220
9 Downtown 15.9% 360
10 Willow Glen 19.1% 233
11 South San Jose 16.9% 461
12 Blossom 24.6% 297
13 Almaden 28.6% 100
14 Cambrian 21.6% 207
15 Campbell 24.6% 153
16 Los Gatos 24.8% 155
17 Saratoga 20.9% 106
18 Cupertino 40.8% 100
19 Sunnyvale 32.0% 168

Overall % in escrow (SFR Only) is 20.4%. This percentage is up 3 tenths of a percent from last month.

Total class 1 listings as of 5/10/08 (5363) – 5/12/07 (3348) / Pending 5/10/08 (1375) - 5/12/07 (1106).

Courtesty of Fidelity Title

Feds Cut Rates By Another Quarter Point

2008-04-30T22:28:00.000-07:00

The Federal Reserve cut rates by another quarter point to 2%! What does this mean to Buyers and Sellers trying to refinance? Currently not a whole lot. Rate cuts tend to take a period of months to trickle down into the loan market. Though it may help short term rates, most of us are looking at a secure 30 fixed for the long run.

I have not seen the low rates of 2001 and the close ties to rate cuts that were obvious during that time period. I have been seeing loans take longer periods of time to qualify and get funding. For jumbo loans the rates are in the mid 6's which are really nothing too excited for the average home buyer or owner. Banks are a-lot more cautious with who they loan money to and are dealing with many loans that have fell through as well.

Those of you who are getting regular conforming loans under $417,000, these loans seem to be plentiful. I am still trying to secure one of these stimulus package or Conforming Jumbo loans. When I successfully refinance myself, I will pass my experience onward.

For loan inquiries please contact Mya Tran mya_tran@yahoo.com for a detailed analysis of your loan needs and tell her Alan sent you!

http://www.businessweek.com/bwdaily/dnflash/content/apr2008/db20080430_504053.htm?campaign_id=rss_daily

San Jose Best Cities For Home Sellers

2008-04-27T00:14:00.000-07:00

Here is an interesting article on the San Jose market.

http://www.forbes.com/2008/04/07/homes-sellers-cities-forbeslife-cx_mw_0407realestate.html

State of the Market

2008-04-09T23:25:00.000-07:00

Inventory continues to climb since January 2006. The latest inventory number for Santa Clara County's Single Family Homes is 5092 and 1793 active Condominiums and Townhomes. The good news is that the number of pending homes is slowly climbing but still not enough to clear out the backlog of inventory. Buyers are slowly moving into the market but there is no clear indication that the worst is over yet. If you are a Buyer, I do suggest that you continue to keep an eye out for great deals and motivated Sellers. There does seem to be some buffer still based upon the numbers.

Contact me today for an analysis of your specific property needs!

Price Reduced $15,000 607 Valley Forge Way in Campbell!

2008-04-09T23:00:00.000-07:00

607 Valley Forge #4 in Campbell has been reduced another $8,000 for a total reduction of $15,000 to a list price of $351,888. We had an offer come through but we just could not meet at a common number. Since another Buyer has warmed up my Seller for negotiations please forward this to your friends and family and see if we can get an offer that would work for everyone!

Please call me today for a private showing!

Conforming Jumbo and Stimulus Loans

2008-04-08T13:50:00.000-07:00

My loan broker has been trying hard to get these new Conforming Jumbo and Stimulus loans for purchases and refinancing. These loans are slowly materializing in the market. If you are a homeowner that still has some equity, it is time to consider refinancing that ARM to a 30 year fixed. If you are a new home Buyer, many of these loans may not exist after December of 2008 this year which is something to keep in mind during your planning.

I will keep you posted when I am able to secure one of these loans.

Sold 700 Baltic Circle #714 in Redwood Shores!

2008-04-08T12:40:00.000-07:00

Just Sold 700 Baltic Circle, #714 in Redwood Shores sold to the Buyers of Alan Wang!

Lovely 12 year new Townhome, tri-level with upgraded hardwood floors on the main level, 1424 square feet, near the water and near the pool. I was able to get the price $36,000 below list price! Not all properties will have this type of reduction but if the area is right and the Seller is motivated a-lot could happen. I have noted Condominiums and Townhomes at Redwood Shores sitting on the market for quite some time. This is a great area near the water and near Oracle and other high tech corporations.

For similar properties please give me a call or e-mail me for an assessment!

Just Sold 1101 S. Main St in Milpitas

2008-04-02T17:12:00.000-07:00

Just sold 1101 S. Main Street in Milpitas to the Buyer of Alan Wang! This is a brand new home development in Milpitas offering loan programs with 4.99% financing! Two bedroom, two bathrooms, with 1400 square feet, call me today to join my Buyer on this awesome deal!

It is a great time to buy, call me for a pre-approval!

Conforming Jumbo Loans

2008-03-13T08:44:00.000-07:00

I attended a market update with a financial firm and have an update on the conforming loan increase to $729,750 and what this means to Buyers and those trying to refinance.

These loans are being called Conforming Jumbo loans and the earliest it seems that these will hit the market is April 1st. The rates on these will not be at conforming or jumbo rates but somewhere in between the two. This does make sense since the increased loan amount represents more increased risk to the lender, they would like to make a little more interested for loaning out the funds.

If you have any questions on the loan side please call my partner Mya Tran at (408)472-7558 or e-mail her at mya_tran@yahoo.com.

Dream Dinners Newark Grand Opening!

2008-03-12T23:06:00.000-07:00

A big congratulations to Frank and Jenie on a very successful grand opening of Dream Dinners in Newark. I had a very fun time building my dinners and doing demos! This is how it works, you place the order online for a session, you go in and build your dinners for the month. All of these items are made by your own hand with the freshest ingredients then you can place them in the freezer and instructions are given on how to prepare them. It's a great group activity or team builder. You can also elect to have the staff build it for you for $2 extra per meal.

More details located here:

http://dreamdinners.com/main.php?page=locations&store_id=287&state=California

Campbell Condominium Price Reduced $7,000 to $359,888

2008-03-06T22:45:00.000-08:00

Price reduced $7,000 to $359,000 and increased Buyers Agent commission! The property has been completely remodeled please forward this to any of your friends and family who may be interested. Property is open this weekend Sunday from 1 - 4.

Here are the specifics on the property:

http://alanwangrealty.com/PropertyDetails?pid=776963&ls=REIL&user=client

- List Price: $366,888, reduced $7,000 to $359,888
- 2 Bedrooms, 1 Bathrooms, 840 Sq Ft, 1742 Sq Ft Lot
- Fully Remodeled With Over $30k of Upgrades Move in Condition!
- Pergo Hardwood Floors Throughout, Newer Cabinetry, Granite Countertops, Appliances, Recessed Lighting, Two Toned Paint and Partially Tiled Floors
- 2 Bedrooms, 1 Bathroom Condominium in Campbell, 840 Sq Ft With a 1,742 Sq Ft Lot
- Private End Unit on the Second Floor With Oversized Balcony for Entertaining Guests
- Parking Steps Away From the Front Door and Plenty of Street Parking
- Low Association Dues at $240 p/month. Amenities Include Hot Water, Garbage, Exterior Paint and Common Area Maintenance
- Quick Access to San Tomas Expressway, Highway 17, 85 and 880

Increased Loan Limits Approved and Homebuyer Seminar

2008-03-06T22:42:00.001-08:00

San Jose Mercury News Article on Increased Loan Limits

http://www.mercurynews.com/ci_8481401

First Time Homebuyers, please attend the Homeownership Fair Sponsored by the Santa Clara Association of Realtors!

http://our.web-scheduler.net/?CID=78&sid=&ID=55272&t=1207414800&v=event

Sale Pending Redwood Shores Property Sold to the Buyers of Alan Wang!

2008-03-04T22:57:00.000-08:00

As evidence that Buyers are on the move, I am happy to report a Sale Pending on a lovely Townhome by the water in Redwood Shores to my Buyers. This property has 2 bedrooms, 2 and a half baths with 1,424 square feet and 12 years new.

As mentioned prior, my office seems to suddenly be filled with clients putting down offers. For those of you that have been thinking about buying in this Buyers market please let me know so that we can sit down and see if this is a decision you should make now.

For more details please proceed to http://www.alanwangrealty.com and click Featured Listings

February Market Update

2008-03-04T11:54:00.000-08:00

My loan consultants continue to wait for banks to make the increase in the conforming rates to the new rates loan limits. They are expecting to see this mid March latest end of March for this change to be in affect. It is still debatable how fast banks are going to be able to move following this legislation.

There have been lots of activity as far as offers are concerned. My office has had a mad scramble suddenly of folks that have been placing offers on homes. I would say the economic stimulus is stimulating some activity here in the Bay Area. I also have an offer out on the Peninsula that we are working closely with the Seller to try to come to terms.

There was also an interesting article posted in Time Magazine explaining why it is a good time to purchase property:

http://isvr.net/usr/1006068013/CustomPages/Time_Magazine_February_25th_2008.pdf

For those of you that have thought of buying, it is time to really start moving on this before everyone else catches on!

Economic Stimulus Package

2008-02-14T20:04:00.000-08:00

Many are curious how Bush's economic package will affect us here in California. This $168 billion stimulus packaged approved by Congress will increase the conforming loan limit from $417,000 to as high as $729,750 depending on the median price for an area. My loan agent has informed me that March 13th will be the official date that this will be put into affect. Those of you planning to refinance or purchase a home it is time to get ready.

A few things to keep in mind:

- Be sure to clean up any late fees, unpaid debt. It is very important to have good clean credit in this market.

- Keep in mind that these loans still may not be at the regular conforming rates but they should be still lower than jumbo rates.

For more details this is an excellent Mercury News article.

http://www.mercurynews.com/news/ci_8070140

Statistical Sales Data Comparisons

2008-02-10T14:39:00.000-08:00

I wanted to share a recent data analysis of median home prices for resale homes. I always take median numbers with a grain of salt due to the large variance in the data; but this is interesting data nonetheless.

Location, Location, Location!!!

I have been stating that the "good" areas have been immune to the affects of the sub prime mortgage situation. The reason for this is that the folks buying in these neighborhoods have secure jobs, high credit, equity and downpayments. These are not the people that were flipping homes or extending themselves too far as in "other" neighborhoods, which caused the real estate issues in the market today.

San Francisco County

County/City/Area #Sold 2007 2006 % Change

San Francisco 5,451 $780,000 $763,000 2.23%

The unique, historic and one of a kind San Francisco has shown a 2.23% gain. Of course, a destination for people of all backgrounds, this diverse city has some of the oldest homes that still sell for very high prices. Low supply and high demand will continue to drive real estate prices in the city for many many years to come. The many landmarks and amount of activities make this "the" place to live for city dwellers.
Santa Clara County

Santa Clara County 15,781 $700,000 $680,000 2.94%

Here is an analysis of Santa Clara County homes:

ALVISO 11 $600,000 $710,000 -15.49%

Alviso is a small neighborhood, with some spotty areas and new homes surrounded by older homes. The older homes may have been the culprit in dragging these home prices down in this area. There is also no lure of any schools, but it is close to many Silicon Valley Companies. The low amount of activity maybe skewing the data.

CAMPBELL 503 $720,000 $689,500 4.42%

Campbell borders Cupertino, Saratoga and West San Jose and boasts a decent school system with a small town feel. This area has had substantial gains at 4.42%. I have seen more smaller new home developments sprout up in this area as well.

CUPERTINO 701 $945,000 $935,000 1.07%

The infamous Cupertino schools are no stranger to those seeking the best schools for their children in the Bay Area. Parents will pay top dollar to have their children be in this school district. Things have not slowed, although the median has only increased by 1.07%, you must remember the prices in this area have always been higher and the fact that they are holding shows that schools will always be valuable to parents in the Valley.

GILROY 496 $665,000 $686,000 -3.06%

Gilroy, the distance from Gilroy to the majority of the jobs in the Silicon Valley make this place a bit less popular than most. With gas prices soaring, the long commute no longer seems to cancel out the savings of the cheaper home in cities further from work.

LOS ALTOS 366 $1,655,000 $1,550,000 6.77%, LOS GATOS 548 $1,140,000 $1,100,000 3.64%

Los Altos gained 6.77% and Los Gatos gained 3.64%. This is proof that the subprime issues do not affect the upper middle to upper class. These areas have shown solid growth even in a tough real estate market.

MILPITAS 554 $645,000 $626,000 3.04%

The city of Milpitas has sustained a decent 3.04% gain even in this tough market. This small town is a jumping point between the East Bay, the South Bay and the Penninsula. Also this city boasts excellent API scores in their elementary schools and attracts younger home owners who value a new home and don't have children or have young children and do not need to sacrifice for an older pricey home in Cupertino just yet.

MORGAN HILL 487 $770,000 $771,000 -0.13%

Morgan Hill is much different than Gilroy in that it contains a lovely community that has sustained it's home values. Morgan Hill is a beautiful city with newer homes surrounding. Although it is also a distance from the Silicon Valley, this area has still held in value with a minor dip of .13%.

MOUNTAIN VIEW 673 $720,000 $681,000 5.73%

Mountain View's allure will never cease with Google continually taking over more commercial buildings, many more employees seek housing in this area. Mountain View provides a good mix between the city life and small town feel with Castro street and El Camino Real. Showing a 5.73% gain, shows that Mountain View is still highly desired by all in the Bay Area.

PALO ALTO 200 $1,175,000 $1,010,000 16.34%

Palo Alto by far gained the most in the Bay Area at 16.34%. The prestigious Stanford University, excellent schools and Downtown Palo Alto draws people from all backgrounds to move into this very diverse city.

SAN JOSE 8,336 $663,000 $660,000 0.45%

I am a little surprised to see a .45% gain in San Jose, but it seems to make sense if we are talking about homes that have "sold" during this time frame. High inventory levels exist especially in East San Jose. It is important to note that San Jose is a very large city and should be divided into North, South, East and West. North and West San Jose have sustained well in this market. North Valley has a large section of newer homes and West San Jose bordering Cupertino allows families to send their children to Cupertino Schools. The East and South seems to have had the most people who have sub prime loan issues.

SANTA CLARA 1,116 $660,000 $660,000 0.00%

Santa Clara has remained flat which is still a credit to this area. Being close to companies and being diversified with a mix of homes has sustained this area. Rivermark is by far still the hottest community in Santa Clara.

SARATOGA 395 $1,510,000 $1,397,500 8.05%

Saratoga has sustained itself through some of the worst of times. A private town where there are no street lamps, here are some of the best schools in the Valley. Whether folks are looking for a quiet home in the hills or some of the best schools for their children, Saratoga has shown that no matter how bad the times, their city is still one of the most desired places to live.

SUNNYVALE 1,225 $733,500 $710,000 3.31%

Sunnyvale, a city bordering Cupertino, West San Jose and Mountain View, and also nearby many Silicon Valley companies is still a hot city to live in. Building many many new Townhomes, young workers find this city a great city to reside.

All data was gathered from Data Quick Information Systems: http://www.dqnews.com/ZIPCAR2007.shtm.
All explainations are the opinion of the writer and his interpretation of the data at hand.

Just Listed 607 Valley Forge Way #4 in Campbell

2008-02-09T11:41:00.000-08:00

I am proud to present a brand new listing in 607 Valley Forge Way #4 in Campbell! Open House every Sunday from 1 - 4 until through March 2nd.

The property has been completely remodeled please forward this to any of your friends and family who may be interested.

Here are the specifics on the property: http://alanwangrealty.com/PropertyDetails?pid=776963&ls=REIL&user=client

- List Price: $366,888, 2 Bedrooms, 1 Bathrooms, 840 Sq Ft, 1742 Sq Ft Lot
- Fully Remodeled With Over $30k of Upgrades Move in Condition!
- Pergo Hardwood Floors Throughout, Newer Cabinetry, Granite Countertops, Appliances, Recessed Lighting, Two Toned Paint and Partially Tiled Floors
- 2 Bedrooms, 1 Bathroom Condominium in Campbell, 840 Sq Ft With a 1,742 Sq Ft Lot
- Private End Unit on the Second Floor With Oversized Balcony for Entertaining Guests
- Parking Steps Away From the Front Door and Plenty of Street Parking
- Low Association Dues at $240 p/month. Amenities Include Hot Water, Garbage, Exterior Paint and Common Area Maintenance
- Quick Access to San Tomas Expressway, Highway 17, 85 and 880

Alan’s Real Estate Update 2008

2008-01-30T23:50:00.000-08:00

I hope that you are having a wonderful New Year and also a Happy Chinese New Year to you all! 2008 is shaping up to be a very interesting year for the market and there are a-lot of changes! I thank you all for your business and referrals over the years and please let me know if you have any real estate questions or know of anyone that requires Real Estate services. I am always available to offer my services, experiences and knowledge to assist anyone anytime!

I closed out 2007 with top sales in my office at Pinnacle Bay Properties. I wanted to take a moment to thank you for your trust in me as well as your referrals. Thank you for making this possible and I am looking forward to many years to come as your Realtor.

A New Year a New Office

The issues in the Real Estate market not only hit homeowners hard, it also took a toll on many Real Estate offices. Having been with Pinnacle Properties for 3 years and 1 year with Century 21, I decided that it was time to take my Real Estate career to the next level of customer service. I am proud to join Keller Williams in Cupertino.

How Does This Affect You?

This change does NOT affect you in anyway. The only difference is that I have more tools and office support than ever before. You will always have the same quality of service from Alan Wang, Your Realtor!

A New Year a New Website

With a new office comes a brand new web site design. Please feel free to provide feedback so that I can improve the look and feel of the site. Come to http://www.alanwangrealty.com/ for a preview!

A New Year a New Blog Site

With the slow down in Friendster usage, I have decided to move my blogger from http://alanlwang.blogs.friendster.com/my_blog/ to http://alanwangrealty.blogspot.com/. I will be updating http://www.alanwangrealty.com/ with the major updates. You will be able to link easily to my blogger from my main website.

Market Outlook 2008

Subprime Mortgages

The first question that comes up is how does this sub prime issue affect us? As my clients I would never have allowed you to take on a loan that you could not afford or those that contained a pre-payment penalty. The sub prime issue was caused by folks who had no business affording the homes that they bought into in the first place. They took on adjustable mortgages with zero down expecting Real Estate prices to go up forever. When prices turned the other way, they were stuck with variable loans that they could not refinance and major high mortgages that they could not afford.

This affects us in two ways; one positive and one negative. On the negative side it puts the market in a panic and no one is buying or selling homes. This causes a freeze on real estate prices even in the good areas. The areas where there are high concentrations of sub prime lenders end up having high inventory that eventually fall into foreclosure and lowered prices. This then has a cascading affect on banks that write off these loans that trickles into the economy. Surprisingly, many areas in the Bay Area have held both in prices and low inventory. Please ping me for an inventory analysis of your home area.

Economic Outlook 2008

Many indications are showing that the US economy is heading into a recession. This is why the Federal Reserve dropped rates by 0.75% last week and another 0.5% to 3% today. It will take time for these to trickle into the mortgage market. You will first see short term mortgages lower, then about 90 days for long term mortgages to follow. 2008 will be the year of great rates back to 2001 and 2002 levels. Those of you that missed the low rates during the dot com bust, you have another chance to grab a good rate.

Also the economic stimulus package is planned to increase the conforming loan limit from $417,000 to $729,750 for high cost areas for 1 year. The target for this to pass is mid February.

Buyers and Refinancers

Buyers this is an opportunity to buy that dream home of yours! Rates are extremely low, good inventory and not much competition for homes. Do NOT be nervous about the situation because the Bay Area has one thing many places don’t have, jobs! People have held out in 2007 and did not buy, when the rates are low enough, people will wise up and begin to jump in. This may take some time but let’s be ahead of the curve!
Refinancers, for those of you who have been sitting on 5 year ARMS or higher 30 year fixed loans, it is time to consider whether to continue on another 5 year ARM or to refinance to a lower 30 year fixed. The difference is quite small these days. Here are the most recent numbers from Mya, my trusted Loan Consultant who is now with Coldwell Banker. I anticipate the rates to continue to lower with the news today and I will keep sending rates out as often as I get them.

CONFORMING
5/1 ARM @ 5.25%
30 Yr-fixed @ 5.5%

JUMBO
5/1 ARM @ 5.75%
30 yr-fixed @ 6.75%

If you have any questions regarding to financing, please call Mya at (408)472-7558 or e-mail her at mya_tran@yahoo.com for a personalized loan consultation. Let her know Alan sent you and she will give you extra customer service!

Selling and Buyers

Seller’s if at all possible hold on for now until this crisis passes. For those of you who maybe in one of those pockets of high demand low inventory neighbourhoods. Contact me for an analysis!

Santa Clara County Property Taxes Yet Again

Please feel free to forward this onward and as a reminder to you that property taxes are due yet again. “The second installment is due and payable on February 1. The grace period on the second installment expires at 5 p.m. on April 10. If the installment remains unpaid as of April 10, a 10% penalty and $20.00 cost is imposed.” http://www.scc.gov/. You can also pay your taxes online. If you do not know your assessors number, please let me know so I can assist you! http://payments.scctax.org/payment/jsp/startup.jsp

Relisting 607 Valley Forge #4, Campbell, CA 95008

This property will be re-listed for $371,888 with $30,000 of remodel work! The property has been completely remodeled please forward this to any of your friends and family who may be interested. Here are the specifics on the property: http://alanwangrealty.com/PropertyDetails?pid=747042&ls=REIL&user=client- List Price: $385,000, 2 Bedrooms, 1 Bathrooms, 840 Sq Ft, 1742 Sq Ft Lot- Fully Remodeled With Over $30k of Upgrades Move in Condition!- Pergo Hardwood Floors Throughout, Newer Cabinetry, Granite Countertops, Appliances, Recessed Lighting, Two Toned Paint and Partially Tiled Floors- 2 Bedrooms, 1 Bathroom Condominium in Campbell, 840 Sq Ft With a 1,742 Sq Ft Lot- Private End Unit on the Second Floor With Oversized Balcony for Entertaining Guests- Parking Steps Away From the Front Door and Plenty of Street Parking- Low Association Dues at $240 p/month. Amenities Include Hot Water, Garbage, Exterior Paint and Common Area Maintenance- Quick Access to San Tomas Expressway, Highway 17, 85 and 880Please let me know if you or someone you know is interested in this property!

A Big Thanks Once Again!

Again, I would like to THANK YOU for your trust and business. I wish you and your family a Happy New Year in 2008 with much success in all aspects of your life!