Announcing our New MLS Search Capabilities...
In our efforts to provide you with the best information about local real estate while making the info as easy as possible to access, we are excited to announce our new MLS Search menu. This menu is now included on all property searches and property detail pages.

The New MLS Search Menu allows you to choose from the following by just pointing and clicking:

- MLS Form Search
Choose either basic, advanced, address, and MLS number search forms.

- MLS Map Search
From here, you can jump to different city web pages to display the MLS Map Search. You can also use the neighborhood menu next to the map to easily display different areas within a city.

- REO/Foreclosure Listings (Bank Owned Properties)
From here, you can choose to see REO listings in the city of your choice. When in the map search you can also just select the "REO Only" box and hit the 'Search' button. Now all you see is the REO Foreclosed Bank Owned Properties.

- Short Sale Listings
Use the Menu located on the upper left side of page to select 'Short Sale Listings' and then choose a city. Only Short Sale listings will be displayed.

- New Listings
From this new menu choice, you can choose a type of property (single family, condo/townhouse, REO, short sale, and mutlifamily), then choose the city, and then either listings from the past day, 3 days ago, or 7 days ago.

- Specialty Properties
This will allow you to easily choose a variety of properties such as 'Over $7M Estates', 'Victorian Homes', 'Horse properties', 'RV parking', '3+ Car Garages', 'Homes with granny quarters', and more.

- Search By Price Range
If you want to choose to see listings in a price range in a particular city by just using your mouse, this will do it for you!

- MLS Listings Report
From here you can choose our popular listing reports; New listings, REO, Short Sales, and Price Changes.

We'll be adding the new MLS Menu to other pages on our site in the near future so you always have easy access to it.

Click Here to see the new pages.

Please let me know what you think...

Your Silicon Valley & Sunnyvale Real Estate Professional
Mark Thomason
www.ThomasonTeam.com
408.850.3085

BLOGGER NEWS FLASH - MORTGAGE RATES ARE DROPPING!

Just wanted to give you some GREAT NEWS and a hot tip to start the holiday season with...

The Fed has just agreed to buy $600 Billion of Mortgage Backed Securities from Fannie Mae, Freddie Mac, and Ginnie Mae.

The result has been a nice drop in interest rates, about a 1/2% in most cases so far.

Now is an excellent time to consider a refinance or purchase with a conforming loan (loan amounts up to $417,000) or jumbo conforming loan (loan amounts up to $729,750 thru the end of the year, or up to $625,500 starting January 1, 2009).

Jumbo Loans are still here and available through a number of lenders as well.

If you'd like to know if you can save some money, give us a call at 408-850-3085 or send me an email at Mark@ThomasonTeam.com. I will personally refer you to the right lender for your situation. I make no money by referring you or any of my clients to a lender. I make my living buying and selling real estate. I treat all my clients as if they where family, looking out for their best interest.

Your Silicon Valley & Sunnyvale Real Estate Professional
Mark Thomason
http://www.thomasonteam.com/
408.850.3085

Worst U.S. Real Estate Market hit is California in the Central Valley

12-month change (decline) in home values:

Merced: -42.3

Stockton: -40

Salinas: -38.7

Modesto: -37.9

Riverside: -36.8

Vallejo: -34.5

The market hit hardest by the housing bubble is the Central Valley in California, where aggressive development and price hiking has yielded more homes than jobs. Now many homeowners owe more than their house is worth and are being forced into default.
Still, it's not all doom and gloom for the California housing market. The drop in home values has created an affordable market for first-time home buyers. And, on average, monthly sales have almost tripled from last year. Although the Valley has seen the worst of the crash, it may well be one of the first areas to recover.

So, here are the big questions...

Have we hit the bottom in these areas?

Is it time to buy?

Where should I buy?

Will the banks actually lend money?

Without having a 'Crystal-Ball' that is 100% accurate...I would say that all indicators is that somewhere in the first quarter of 2009 we should be at the bottom of this real estate housing crash of 2008. I would be getting your funds in order and ready to make some "bank" on the housing opportunity that really does exist. History is our best barometer to know what goes down has ALWAYS gone back up. This is in regards to housing prices of course.

If you are getting ready or considering to invest in real estate, feel free to contact me for a detailed consultation.

Your Silicon Valley & Sunnyvale Real Estate Professional
Mark Thomason
http://www.thomasonteam.com/
408.850.3085

New and Revised Real Estate Contracts and Forms

One of the benefits of using a Realtor is that the Realtor has access to contract forms provided by the California Association of Realtors (C.A.R.) and PRDS forms. In years past, the forms were printed and updated every few years but Realtors had to purchase a bunch (package) at a time and would continue to use the old forms. Today, all the latest forms are available on the Internet through C.A.R. (Realtor member access only) and updated on a regular basis with all the latest forms. If a Realtor isn't Internet-savvy, they may not be using the most current forms! Make sure your agent protects you by using the updated online forms verses the preprinted ones.

Here are some changes that happened just this month to C.A.R. Forms:

Buyer’s Inspection Elections -

This form is used by a buyer to identify which specific inspections or reports the buyer wants to order. It is to be kept by the buyer’s agent and does not need to be given to the seller or listing agent. The form may be used more than once in a transaction if buyer decides to order some items at one time and others later.

Septic Inspection, Well Inspection, Property Monument and Allocation of Cost Addendum -

This addendum to a purchase agreement identifies what is going to be ordered and who is going to pay for items related to septic systems, wells and property boundaries.

Contingency for Sale or Purchase of Other Property-

Paragraph A6 has been modified to clarify that seller should only accept back-up offers after a primary contract has been entered into and to distinguish when the seller can ask the primary buyer to remove the contingency for the sale of the primary buyer’s home.

Market Conditions Advisory-

Language was added to paragraph A informing the buyer that a real estate agent cannot predict with specificity the affect of distressed property sales on values of homes in the neighborhood.

Please contact me with any Silicon Valley Real Estate questions that you might have...

Your Silicon Valley & Sunnyvale Real Estate Professional
Mark Thomason
http://www.thomasonteam.com/
408.850.3085

REO Real Estate Property Search that has ALL of the Bank Owned Properties in the Santa Clara County Area and more...

This REO real estate map based search tool is brand new and not even linked to my website as of this Blog. You can visually see Bank Owned Properties from South San Francisco, Oakland/East Bay down to the Heart of Silicon Valley and all the way through Monterey County (including San Benito & Santa Cruz Counties).
I believe that this is the most complete up to date foreclosures / REO / Bank Owned properties that you can find anywhere. If you find a better REO search site for Santa Clara County...please let me know and I will blog about it too!

This site does NOT include any other active property listings other than REO / Bank Owned properties for you to search. Grab the map to move it around, zoom in to get a more complete look at all the properties as the map only shows a maximum of 100 properties in any given window. By zooming in you will see all the latest active REO homes for sale.

Please provide some feedback... what do you think of this REO Real Estate searching tool?

Click here or directly on the map above to see the REO Map-Based Search.

Your Silicon Valley & Sunnyvale Real Estate Professional
Mark Thomason
http://www.thomasonteam.com/
408.850.3085

Silicon Valley Median Sold Price Comparison for Single Family Homes

Some interesting information as you compare the previous months of real estate market sales statistics here in Santa Clara County.

Topping the charts for two months in a row with the largest declines in Single Family Homes are Gilroy at -37.66% and San Jose at -33.50%.

The Real Estate in Saratoga California has a two month run of property values increasing in annual month over month comparisons in the median sales price.

For a more complete annual look at the market trends by city and even down to zip codes, go to my website at ThomasonTeam.com and select the 'Market Statistics' page.

Feel free to contact me with any real estate questions you might have...

Your Silicon Valley & Sunnyvale Real Estate Professional
Mark Thomason
http://www.thomasonteam.com/
408.850.3085

"Hope for the Homeowner"

Do you, or someone you know, need help with a mortgage modification or work-out?

Foreclosure action can begin approximately 120 days after the first missed payment. Take action as soon as possible. Here are some resources available to homeowners:

HUD approved counselor: 1-800-569-4287 http://www.hud.gov/offices/hsg/sfh/hcc/hccprof14.cfm

HOPE Homeownership Preservation Foundation

1-888-995-HOPE (4673)

http://www.995hope.org/

The important thing to do is ask questions. Not all options are available with all investors, and in some cases, lenders or investors may offer other options.

1. Will I still owe money to the lender?
2. How will this be reported to the credit bureaus?
3. How will this be reported to the IRS?
4. Will a judgement be issued against me?
5. Can I stay in my home?

The process requires a hardship letter explaining your circumstances, disclosure of your financial information (paystubs, tax returns, W2's, bank statements, debts and obligations, assets).

Loss Mitigation options include forbearance plans, repayment plans, loan modifications, and partial claims (FHA loans only-interest free loan from HUD insurer to bring the loan current).

You may be able to Short Sell your property. This is when your property is sold for fair market value and the lender agrees to accept the proceeds of the sale even though it is less than the full payoff amount. This avoids foreclosure.

Deed-in-Lieu of Foreclosure is when the homeowner voluntarily signs the deed over to the lender to avoid the foreclosure process.

Sally Audet
Wells Fargo Home Mortgage
408-981-1089 Cell
408-335-2525 Office
sally.audet@wellsfargo.com
www.wfhm.com/sally-audet



Your Silicon Valley & Sunnyvale Real Estate Professional
Mark Thomason
http://www.thomasonteam.com/
408.850.3085

Silicon Valley Median Sold Price Comparison for Single Family Homes

Just about everyone asks me how's the Real Estate Market doing? Well, I have now created a complete up to date real estate statistics website covering all Santa Clara County cities down to the zip code. Click here to visit my Silicon Valley Real Estate Market Statistics website.

Below are the Median sold price comparison for the Santa Clara County cities. I have also sorted the chart from the cities that have the highest decrease in real estate value (Gilroy at -50.70% followed by San Jose at -33.11%) to the only two cities (Saratoga +1.93% & Los Altos at +3.41) that have increased in real estate value from August 2007 (month to month comparason).
As you will notice...a few cities are really holding their own in this tough real estate market. Under a 10% drop in value is a major feat in today's market. Sunnyvale Real Estate along with Los Gatos Real Estate are keeping property values within reason compared to the drastic decline in values from almost all citites throught Santa Clara County and the state of California.

Please feel free to contact me with any questions...I'm here to help!

Your Silicon Valley & Sunnyvale Real Estate Professional
Mark Thomason
http://www.thomasonteam.com/
408.850.3085