Good News is Pending but, seemingly on its way!
Some of you may have heard this already, but I thought it was worth repeating.
According to statistics presented by Charles McMillan, the 2008 President-elect of NAR at the CAR Board of Director’s meeting in Indian Wells, California, the changes in loan limits and easing of some guidelines will:
1) There will be approximately 210,000 fewer foreclosures
2) Buyers will save $3000 - $5000 in mortgage interest every year on average
3) There will be over 500,000 refi’s over the next year, reducing the number of foreclosures
4) The increase in activity and sales will reduce the time on market for property by 1-5 months.
5) The median sales prices will increase by 2-3% over the next year.
6) The increase in loan amounts will add $44 billion in economic impact.
7) The long run impact is an easing of loan and credit restrictions across the board
Among the possibilities of what this means is when the loan limits increase more buyers will be coming out to take advantage of the historically low rates. There will be fewer short sells and distress sales because owners will be able to refinance out of their bad loans to FHA loans due to easier credit standards. So, buyers & homeowners need to get pre-approved to be ahead of the game, I will help you & your referrals in any way I can...Feel free to contact me with any questions.

Mark Thomason
408.850.3085
Silicon Valley & Sunnyvale Real Estate Professional
Re/Max Real Estate Services

The Downtown Sunnyvale Real Estate Project is making great progress...

Here's the latest information as shown on the City of Sunnyvale website:

The City of Sunnyvale has only one redevelopment project, the 184-acre Central Core Revelopment Project Area. The goal of the project is to rebuild Downtown Sunnyvale as a traditional downtown, a vibrant pedestrian-friendly central place for shopping, working, living and entertainment. The current focus is on the large block bounded by Mathilda, Washington, Sunnyvale and Iowa Avenues, commonly known as the Town Center Mall.
Web Cam
View a live construction Web cam on Sand Hill's Web site.

Weekly Update
January 17, 2008
Vapor extraction and soil treatment process began last week, using the newly-installed soil gas collection system and monitoring wells.

Work on street level retail buildings and parking structures on the west side of the project continues.

Demolition of the fourth building in Town and Country was completed last week.

Project fencing on the east side of the project will be changed slightly in the next week, affect the drive aisles and a small number of parking spots near Macy's.
Previous Updates

January 14, 2008

Town Center Redevelopment Project Soil
Vapor Removal Ready to Begin

The two soil vapor extraction systems, designed to remove the soil vapor contamination under the parking lot and parking structure in the eastern portion of the Town Center redevelopment project, will begin operation within the next two weeks. Extensive sound insulation has been designed into the construction to minimize noise. For the next several months, the extraction equipment will most likely operate 24-hours a day to remove as much vapor as possible. Both systems have been approved by the Regional Water Quality Control Board and have received permits from the Bay Area Air Quality Management District. Noise will be monitored and regulated to ensure compliance with the City’s noise control rules.
If you have any questions, contact the Sunnyvale Department of Public Works:
Mark Rogge: (408) 730-7415, TDD (408) 730-7501
Sand Hill (Developer) – 24-Hour Noise Disturbance Coordinator: (408) 554-2946

Additional Information
GroundWaterFacts.inSunnyvale.com
Community Updates
Sunnyvale Town Center Fact Sheet (PDF)
Downtown Update August 9, 2007 (PDF)
Downtown Update June 25, 2007 (PDF)
Public Outreach
Monthly Public Meetings to discuss demolition mitigation measures and construction schedule are held the last Wednesday of each month at 9 a.m. and 5:30 p.m. Meetings are held at 2502 Town Center (Trailer at corner of Iowa & Mathilda).
January 30, 2008
February 27, 2008

Your Silicon Valley & Sunnyvale Real Estate Professional
Mark Thomason
RE/MAX Real Estate Services
408.850.3085