News Reports are NOT helping the situation!

Once again I woke up to the Mercury News headline screaming about home prices plunging this morning. I thought it must be Deja-vu since they ran an article just two weeks ago about prices dropping 41% in February. They couldn't be telling us that prices have plunged again. But alas, I rubbed my eyes, took another look and that is exactly what the headline said.

Well, just like the last article, the Mercury chose to sensationalize their story with a misleading headline. The true story is that due to the price declines that have ALREADY occurred, the county tax roll has declined significantly. No real news there, but home prices plunging sells papers.

We're beginning to see a fragile recovery in the housing market, however, when the Mercury runs irresponsible and misleading headlines like this, buyers that are just starting to poke their heads out of their burrows run for cover.

The real news that the Mercury is not reporting is that prices showed signs of stabilizing in January and February. March's data is not available yet, but early indicators are that the stabilization is continuing.

Those of us that are dealing with already jittery buyers most be able to address their questions and give them an accurate picture of what's going on.

I've put together some graphs that show median price data in a more real time fashion. The Mercury continues to report on what already happened months ago. The graphs below clearly show that the decline began around this time last year as we all know and took a big hit in September though December. The graph also clearly shows that the rate of decline has stabilized and that prices have been flat month on month so far this year.

Looking at data on a month on month basis is more meaningful than year on year. Imagine if we looked at the Dow Jones year on year instead of day on day.

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

Buyer Tax Credits for 2009...Great News!

There's a catch to the first-time-home-buyer tax credit already on the books: Those who receive the credit must pay it back over the years to come. But one provision in the stimulus bill approved by the House of Representatives this week would remove that repayment requirement.

The credit gives buyers who haven't owned a home in the past three years up to a $7,500 credit for buying a home before July. Critics of the current tax credit said the repayment feature made the incentive less appealing, and didn't serve its purpose of luring more buyers back into the market.

Contact me or visit my website to locate a Bank Owned Property (REO) or another property of your dreams.

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

Here's a Foreclosure that Even Surprised Me!

The Investor that had $60,000 second mortgage on this property. They Foreclosed on the owner and then had to pay the 6 months of payments on the first mortgage. They now own this property with a first mortgage of about $305,000. They are able to get the previous owner to vacate the property within 14 days.

Here's what they found once they were able to obtain access to the inside of the home.

• 6+ cats, 2 birds & two dogs had been living in the house with the owner
• The counters & flooring throughout the house was cover with cat & bird crap
• The smell is so bad that you can not make it through the house without a breathing mask
• The previous owner took the toilet, bath & kitchen sinks, refrigerator and the stove/oven.
• Three dumpster loads of garbage left behind
• An old rotten boat and car left in the driveway

Here are some pictures:

They will clean up the property and try to remove all the odors, then rent it until the market recovers.

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

Mortgage Rates are still falling as Refinancing is a booming business once again!

Applications for refinance loans jumped 25.6 percent for the week ending Jan. 9 as borrowers sought to take advantage of a continued free-fall in fixed-rate mortgage rates for borrowers with good credit.

Comparing loan applications: Purchase vs. Refinance
Applications for purchase loans fell 14.1 percent, and refinance applications accounted for 85.3 percent of all mortgage applications, the Mortgage Bankers Association said in releasing a weekly survey of lenders.

Are you in the market for a refinance or purchase loan...Please contact one or both of these highly trusted two lenders:

• Banker's Network Home Loans: Sally Audet 408.981.1089 or SallyAudet@Comcast.net


• Chase Home Loans: Sarah Tart 408.395.3692 or Sarah.L.Tart@Chase.com

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

Looking for a New Home?
I have found two sites that assists Buyers looking for a new home offered by the builders. These are all new home construction links to help you find a new home.

Take note:
Please make sure that you contact me or your preferred Realtor before visiting a new home location. The builders wont allow a Realtor to represent you after your first visit. If you are serious about a new home purchase, I highly recommend that you engage a Real Estate Professional to advise, protect and negotiate with the builders on your behalf. It is strange how this works but the builders don't give you a better deal because you don't have an agent. They may tell you they will but in reality they don't have any different flexibilities in their pricing.

Here are the two site links:
www.hbg.com
www.newhomesource.com

Let me know if you found these helpful?

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

Go "Green" for the Holidays
There are plenty of ways to have an enjoyable holiday season and at the same time keep your environmental conscience clear. Here are a few simple tips to help save the planet and your cash!

Recycle and make your own gift wrapping paper:
Most mass-produced wrapping paper is not recyclable, so instead use newspaper, old maps, catalogs, even your child's artwork to wrap your gifts. You can also save all the ribbons, bows, and tissue paper and store them in a bag for future holidays and events.

Use energy-saving lights when decorating:
The latest LED lights use less electricity, reduce pollution from power plants, and last longer the conventional ones.

Recycle your Christmas tree:
If you take your tree to a garbage collector for recycling it will produce a great amount of usable mulch to help in planting numerous future trees.

Buy items made from organic cotton:
Conventional cotton consumes vast amounts of pesticides and synthetic fertilizers, can deplete the soil, and requires more water than organic cotton. Studies show that organic growing methods reduce the toll on the planet.

Happy Holidays!

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

MORTGAGE RATES DROP TO 2003 LEVELS

This weeks news has been filled with the U.S. Treasury's latest proposal to stabilize the real estate market with a 4.5% mortgage rate.

Everyone wants this rate! Who wouldn't? The key point regarding this proposed program (if it becomes a reality) is that it is for purchase transactions and not for refinance transactions.

MBSQuoteline added this take on the proposed program:

"The incentive to execute such a plan is compelling, however. Lower mortgage rates make homes more affordable. As more people purchase homes, prices will stabilize more quickly and new home construction will pick up, giving the overall economy a much needed boost."

Current market rates for a conforming 30 fixed rate mortgage are in the low to mid 5%'s, depending on qualifications (good fico score, no cash-out, 75% loan to value).

The last time rates were this low was in June 2003 (5.23% .6pts upfront), according to Freddie Mac's historical data ( http://www.freddiemac.com/pmms/pmms30.htm ).

Take advantage of this window of opportunity to lock in a low fixed rate mortgage. Feel free to call for more information.

Sally Audet
Loan Officer
Bankers Network Corporation
1875 S. Bascom Ave., # 2550
Campbell, CA 95008
408-981-1089
SallyAudet@comcast.net

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

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

Homeowner Short Sales with H.O.A.'s - Know what you are responsible to pay...

If you have a Silicon Valley property that you are considering selling because you are unable to make the house payment for whatever reason. The banks & lenders are definitely accepting short sales and eating the losses on their mortgage notes with many homeowners. In most short sales the bank/lender will take whatever the market will pay for your home and they also will cover the Property Taxes and Escrow fees as well. This is a huge relief to the homeowner but you can not walk away with 1-cent of profit from the transaction. Also, you are 100% personally responsible to the Homeowners association (HOA) for all your monthly fees and any special assessments that have been issued prior to the sale of your home.

Short Sales and Bank Owned Properties (commonly referred to as REO's) are still the majority of all listings throughout Santa Clara County.

I consider myself as an expert in this 'Short Sale' and 'Bank Owned (REO)' properties.

Please feel free to contact me with any questions...

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

Happy Halloween!

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

Haunted House at St. Joseph's of Cupertino School

This is an excellent family event put on by the 8th grade students & parents. Their is also Games, Pizza, drinks and a Movie for all to enjoy.

The event cost are down right CHEAP!

$3 for the Haunted House (3 trips through are included)

$3 for a large slice of pizza (Cheese & Pepperoni)

$1 drinks

$0 for the Movie - 'Monster House' on a large projection screen

When: Saturday October 25th from 7:00-10:30

Where: St Joseph's of Cupertino

10120 North DeAnza Blvd., Cupertino, CA 95014

(at the corner of Steven's Creek & De Anza Blvd)

I hope to see you there!

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

Detailed Real Estate Market Statistics for Santa Clara County

These are the most up to date, extensive real estate market statistics broken down by city and even down to zip code for the larger cities. The real estate statistics are all updated weekly.

Real Estate Market Statistics includes both Single Family Homes and Condo/Townhouses as separate charts.
The statistical charts include: Median Price, Inventory, Average Days on Market, Median Market Action Index (Buyer vs. Seller Market), Median Price Per Square Foot, Quartiles (broken in four segments), Summary of latest data at the top of each page.

Click Here to visit this website. Don't forget to bookmark this one.

Sample Chart: Sunnyvale Real Estate Median Home Prices by zip codeThis is a section of my website that is currently being updated with much more information so please come back to see all the new features over the next few weeks.

If you are looking for something that I don't currently have please let me know and I will do all I can to provide this information to my ThomasonTeam.com website.

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

Great Downtown Sunnyvale House For Sale!

$815,000
for a 5-year new house located just 2.5 blocks from downtown Sunnyvale that is currently under a major renovation. This home is in a very quite neighborhood with a private backyard with a fountain. Original owner that took maticulous care of this home as it feels like a brand new home. Completely landscaped, Granite kitchen counters, open floor plan that is extremely light & bright throughout. I Hope to see you this weekend.

Virtual Tour with Floorplan: Click Here

Open House Sat & Sunday October 18 & 19 from 1:30-4:30

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

Has the Value of Your Silicon Valley Home Declined?

Get property tax relief now and likely for years to come!

If you have purchased a home in Santa Clara County in the last few years and you think your assessed value has declined, you may be eligible for a property tax reassessment under California's Proposition 8 (Decline-in-Value Reassessment). I have provided a link to go directly to the Santa Clara County Assessor's Office, Proposition 8 Temporary Assessment Relief, More Information. This site has all the detailed information that you will need to see if you qualify and to submit a form to the county assessor to have your property taxes adjusted appropriately.

Check your County Assessor property tax bill to see if they have assessed your property too high.

Please take action if you qualify!

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

MORTGAGE UPDATE
Are you interesting in buying a property but don't have much money for a down payment? There are programs available for qualified buyers. Here is some information that may help you get into your own home.

Conventional Financing
Wells Fargo offers financing up to 90% of the purchase price for a conventional conforming loan of $417,000. This means that you can purchase a property for $463,333. There are some ifs, ands, or buts with this, though. Most lenders, including Wells Fargo, are reducing loan to value ratios of the offered programs by 5% if the property is in a declining market, which in some cases means that you may need to come in with a 15% down payment. Mortgage insurance is required as well.

CalHFA
CalHFA has their own underwriting guidelines, so please call me to see if this program will work for you.

The California Housing Finance Agency (CalHFA) has recently retracted many of their loan programs. The 30 Fixed Rate Mortgage is still available, and at a rate competitive with current traditional mortgage rates.

CalHFA Program Snapshot

• First Time Homebuyers Only (cannot be on title for the prior 3 years)
• Primary Residence Only
• Loan Program: 30 year fixed rate mortgage
• Purchase Price Limits (existing resale properties: $729,750)
• Income Limits ($127,320 for households with up to 2 people, $148,540 for 3+ people)
• Down Payment Assistance (income limits apply from $88K up to $167k depending on number of people in the household).
• Some city down payment assistance programs available (city's may offer their own programs with their own guidelines).
• Mortgage insurance required on loans greater than 80% loan to value.
• Maximum loan to value: 95% and (up to 102% when combined with down payment assistance from CHDAP and other city down payment assistance programs).

FHA
FHA has a complex set of underwriting guidelines. It is difficult to determine whether or not a client will qualify until all aspects of the transaction are known. Please call for more information.

FHA Program Snapshot

• First Time Homebuyer status not required.
• Loan Programs: Wells Fargo offers the 15 year fixed rate, 30 year fixed rate, 3 year ARM, 5 year ARM (other lenders may offer the 1/1, 7/1 and 10/1 ARMs, Wells Fargo does not offer these at this time)
• Purchase - Primary residence only, up to 97.15% loan to value up to $729,750*.
• Minimum investment = 3% (downpayment and closing costs)
• Refinance - Rate and Term
• Refinance - Cash Out: up to 85% loan to value for loans up to $729,750*, and up to 95% loan to value for loans up to $417,000.
• FHA allows renegotiated 2nd liens to be subordinated behind a new 1st FHA loan. Loan to value limits apply.
• Mortgage Insurance required on all loans.

* The higher loan limit of $729,750 expires on 12/31/08. The new loan limit is expected to be $625,500.

Please do not hesitate to call or email me with any questions you may have.

Sally Audet
Wells Fargo Home Mortgage
CELL: 408-981-1089
EMAIL: sally.audet@wellsfargo.com
WEBSITE: www.wfhm.com/sally-audet


I'm Mark Thomason and I support this message!
Your Silicon Valley & Sunnyvale Real Estate Professional
Mark Thomason
http://www.thomasonteam.com/
408.850.3085

Web Cam on the New Mary Ave Walking Path Over Hwy 280

If you haven't seen this suspension walking path currently being built over highway 280 Connecting Sunnyvale & Cupertino. You need to check out this web-cam, it also has a pretty cool time-lapse feature that you can select at the top left side of the page. This is taking still shot pictures at about 15-20 intervals.

The walking path is being built to allow easier access to Homestead High School in Sunnyvale to the residents of Cupertino that belong to that school district. The homeowners and residents have been asking for this for many years. This will also help with students accessing De Anza College from the Sunnyvale side as well.

Click Here to take a look yourself, don't forget to click on the 'Time-Lapse'.

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

Foreclosure filings slowing down in California or are they?

The Notice of default filings with the county recorders office are what mark the beginning of a home foreclosure process have fallen just over 60 percent in September compared to August and fell about 36 percent compared to the same month last year in California.

The California Senate Bill 1137 in which seeks to reduce foreclosures in the state by requiring lenders to reach out to homeowners prior to initiating foreclosure proceedings, requiring a waiting period, and other provisions. It seems to of had a chilling effect on foreclosures in the state in September. BTW...Good luck getting your lender to take or return your call. Lender's are buried in paperwork and are unable to create the time to resolve issues until they are on fire. This senate bill is pretty much a joke as the lender's don't have the staff to really address the concerns of the consumer. I would love to here that someone has had success because of this bill.

But the slow-down is very likely to be short-lived as this may just be delaying (not stopping) many Notice of Defaults from being filed with the county. Let's see what happens in the next few months. Then we will have a realistic understanding if things are getting better or not.

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

MORTGAGE MARKET INFORMATION

The markets (stock, bond, mortgage, currencies, precious metals, you name it!) continue to be extremely volatile. The Mortgage Bankers Association reports that the current weekly purchase index declined by 1%, while refinances rose 12%. Average rates for the previous week rose to 6.47%, up from 5.99% for 30 year fixed rate mortgages. Apparently, everyone jumped on the bandwagon when the rates dipped.

Mortgage rates are driven by the pricing that occurs in the Mortgage Backed Securities market (MBS), which normally moves in the opposite direction of the stock market. That pattern has been broken by the current economic situation. Pricing of MBS fell when today's economic data was released along with the DJIA drop of 400 - 500 pts. In more normal times, investors would seek a safe haven by rushing into safer investments such as treasuries, bonds and MBS when the stock market declined. Keeping an eye on the MBS pricing data is the best way to see what's happening with rates but with our current whipsaw market activity, it's hard to tell what will happen next (for example, pricing ranged from -8/32 to +20/32 in the first 4 hours of trading today).

LENDING UPDATE

With the continued volatility in rates, many people are choosing to get their loan application underwritten and await the next downturn in rates. This makes a lot of sense because there is an absolute flood of applications submitted when rates fall resulting in very long underwriting lead times . The best plan is to submit the application, get underwriting approval, and float the rate until it dips.

Did you know that the higher conforming loan limit of $729,750 will expire on 12/31/08? All loans using this temporary loan limit must fund by 12/31/08. A rush of borrowers seeking this program is expected as we near year-end, so get your application in as early as possible if your situation requires the higher loan amount.

What will the conforming loan limit be after 12/31/08? The new conforming loan limit of $625,500 is expected to be ratified by Fannie Mae, Freddie Mac, and FHA in November. I'll keep this blog updated on the status of the new loan limits

Why are loans taking so long to fund? Many people seeking financing are amazed at the scrutiny given to every detail of their financial situation. Underwriting guidelines now require full disclosure and that every aspect of the application is solid (income, assets, and credit). Appraisals are reviewed. Documentation is being validated through independent sources (ie, going directly to the financial institution to verify balances, pulling IRS transcripts to verify W2's/income). This is why underwriting is taking so long (especially when there is an influx of loan applications due to a dip in rates).

Are you interested in finding out what your refinance options are in this market? Are you considering purchasing a home and need to know what you are qualified to purchase given today's dynamic lending environment? Please call me. I'm available to help you navigate this market!

Please feel free to contact me if you have any questions regarding the information provided here.

Sally Audet
Wells Fargo Home Mortgage
CELL: 408-981-1089
EMAIL: sally.audet@wellsfargo.com
WEB: www.wfhm.com/sally-audet




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

The stock market still can't find the bottom

We went well below 9000 today, almost getting to 8500! This is crazy...

I know we are all in disbelief of the financial world collapsing in almost every possible way around each of us. I can't see how anyone is shielded from the effects of this economic melt down.

After adding about 150 points early on, the Dow Jones Industrial Average is at 8,579.19, -678.91, -7.3% to close today. Another record low! When will the bleeding stop?

What does this all mean to our Silicon Valley Real Estate investments? More on this issue when I can answer the question.

Let's hope tomorrow brings all of us a brighter day!

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

Things to do this weekend...
If you are struggling on what you can do this weekend, I have put together a things to do this weekend that might help you out.
Click here to view the information.

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

Sunnyvale Downtown Redevelopment Project

Get up to date on all the progress that has been made on the Sunnyvale real estate downtown development project. Click Here

Check out the live web cam that is over looking the construction. Once on this site you will need to click on the "Live Camera" button on the top right. Click Here

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

Here's a chart of the Median Home Prices for the different zip codes in Sunnyvale over the past year (click on the chart to display a larger one). We'll be posting more charts for other cities to this blog.

Most Secure U.S. Places to Live - We are #1

Health, prosperity, safety and security are all desirable aspects when it comes to seeking a place to live work or raise a family. According to our fourth annual Most Secure U.S. Places to live rankings from Farmers Insurance Group of Companies®, the city/metropolitan-area that best meets those qualifications is the San Jose-Sunnyvale-Santa Clara area in northern California's Silicon Valley tops all large metropolitan areas (population of 500,000 or greater), scoring particularly well in the extreme weather and terrorist threats categories. The area is considered one of the leading research and development centers of the world; in 2005, San Jose and Sunnyvale ranked first and second in the number of utility patents filed in the U.S.

Large Metro Areas (500,000 or more residents)

1. San Jose-Sunnyvale-Santa Clara, Calif.

2. Boise City-Nampa, Idaho

3. Bethesda-Gaithersburg-Frederick, Md.

4. San Francisco-San Mateo-Redwood City, Calif.

5. Oxnard-Thousand Oaks-¬Ventura, Calif.

6. Bridgeport-Stamford-Norwalk, Conn.

7. Nassau County-Suffolk County, N.Y.

8. New Haven-Milford, Conn.

9. Lake County, Ill./Kenosha County, Wis.

10. Honolulu, Hawaii

11. Portland-South Portland-Biddeford, Maine

12. Cambridge-Newton-Framingham, Mass.

13. Edison, N.J.

14. Portland-Beaverton, Ore./Vancouver, Wash.

15. Santa Ana-Anaheim, Calif.

16. Madison, Wis.

17. Seattle-Bellevue-Everett, Wash.

18. Rochester, N.Y.

19. Syracuse, N.Y.

20. Essex County, Mass.

For the Complete article click here

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

Sunnyvale Real Estate is the Fastest Selling Real Estate in the County!

This is according to a Business Week press release on Sept 6th, 2008. This article specifically calls out the 94087 zip code of the Sunnyvale Real Estate market.

Click Here to see the complete article.

Great news for Sunnyvale property owners.

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

Silicon Valley Median Sold Price Comparison for Single Familly Homes

Based on a number of emails on my previous comparison from two days ago. I am now providing a Median sold price comparison for Santa Clara County. I have also sorted the chart from the cities that have the highest increase in value (Los Altos) to the largest decline in value (Gilroy).

Please keep providing feedback and requests so I can keep you all informed.

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

What rescue means for mortgage interest rates

Bailout of mortgage giants should result in lower mortgage costs and make credit more available. But lending standards will stay tight and risky borrowers will still pay extra fees.

Sunday's federal takeover of Fannie Mae and Freddie Mac will likely translate into lower mortgage rates and greater availability of credit, experts said. Rates could drop by 1 percentage point from the stubbornly-high 6.39% for a 30-year fixed rate mortgage. The interest rates have dropped about .5% over the last two days. This is great news for buyers and anyone needing to refinance.

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

Silicon Valley Market Home Value Update - Santa Clara County

Single Family Residential Average Sales Price

WOW, Take a look at Gilroy as they've experienced a 40% drop in the average sale price in just 12 months. The chart below is using only the closed home sales in the month of August 2007 comparing to August 2008.

Some cities are still holding pretty strong on their real estate home prices, like Cupertino, Los Altos, Los Altos Hills, and Los Gatos. Although the City of Saratoga has great schools it appears to have lost some value based on this home sales comparision. Saratoga does have a large pricing diversity on homes currently listed as of today from a low of $799,900 to a high of $12,000,000.

I will be providing additional market information on a regular basis so, please let me know what market information you would like to see next.

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

B of A sees additional 20% drop in real estate prices in California

Bank of America expects home prices will fall an additional 15 percent nationwide and 20 percent in California, Chief Executive Officer Ken Lewis said in an interview with the Los Angeles Times.

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

Man's Best Friend May Be Costly When Selling Your Home

As beloved as pets may be to sellers they can be a detriment to the sale of a home.
One of the main reasons has to do with how convenient it is for buyers to see your home. There can be issues caused by the pets that make seeing your home more difficult than viewing other properties. For instance, if sellers have to be called first before their home can be shown this can make it less appealing to buyers and agents. "You've got issues of access because you might have special pet instructions such as remove pets prior to entering home," says Benjamin Little, Realtor with John Hall & Associates in Scottsdale, Arizona. He says that makes it so agents and buyers have to set special appointments. "And in today's market, anything that impedes a showing is a hindrance to selling the house," cautions Little. He adds, "There are so many properties out there for sale that if you've got special pet instructions and there are 10 properties, that on paper are equal, those Realtors are going to be showing the other ones that they have easier access to and don't have to worry about setting up a time so that the pets are removed." It's not just access to viewing the property that causes the problem. Sometimes, regardless of how friendly the pet is, potential buyers can be reluctant to enter the home. "You might have an overly friendly dog, but the buyer still isn't comfortable being in the room with the dog and it could reduce the show time," says Little. He gives this example. "I was showing a house recently and the [sellers] left the house. I felt they should have taken the dogs, because an important feature was going out back and seeing the horse set-up on the property but [potential buyers] weren't allowed outside because of the dogs," says Little. He says the seller's dogs were left in the backyard and the laundry room. There was even a note from the sellers warning buyers and agents that the sellers were unsure of how friendly their dogs were. This makes viewing the home not only uncomfortable but potentially unsafe. Little says as a result, the showing time was compromised and his clients were not able to see several features of the property such as the horse area, laundry room, and garage. The longer buyers stay in a home, the more likely they are to be considering it for their own residence. Even if you don't leave notes about potentially unfriendly pets, sellers should also consider the stigma that goes along with listing a home for sale when it's obvious a pet is living in it. "If the house smells anything like a pet and buyers see the pet, it is a definite problem because non-pet owners are not sure that they can ever get that smell out of the home," says Little. However, Little says pets can also cause potential buyers to assume there are problems with the house even when there aren't any. Little says he worked with a buyer that didn't want any home that had a cat in it even if she couldn't see evidence of a cat living in the home. Her feeling was that cats are climbing around on everything and getting things dirty. Little says that when buyers learn that a pet lives in the house, it can be hard to shake the negative image they create. "The house may be spotless but they already have that image in their mind," says Little. "Sellers need to understand that they may be comfortable with their pet, but the general public won't be; so they need to do everything they can to make the home as accessible as possible. They need to really have a protocol for getting the [pets] out of the house before a showing," says Little. Little says removing pets or putting them in an area of the property that is not considered vital to selling the home is going to create a better experience for potential buyers.
He also recommends asking for advice from people who are non-pet owners. Little says "you should ask your friends if there is any smell or how they would feel if they saw the cat or dog in the house?" But not all pets are a potential hindrance to showing a home. Some pets can actually help to sell a home. "A fish tank can be considered exotic and help to enhance the color of the home, says Little. And if it's a horse property, by all means, have a horse there!
"The horse can actually be a bonus if you're marketing a horse property. So in that sense, the pet actually enhances the property," says Little. But for the most part, sellers have to remember that even though their pet may be treated like family, there's still good reason that man's best friend isn't always friendly to the most successful real estate deals.

That said I still love my dog and the same could be said for kids :) But we are stuck with them.

Cheers,

Mark

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

Real Estate Market in Saratoga, What's happening?

Real Estate Price Trends

The median single family home price as of June 29 2008 for SARATOGA is $2,113,434
Housing Market ConditionsWith a Market Action Index as of June 29 2008 at 19.42, SARATOGA is currently a buyer's market.
Home Sales and Demand Trends

The average property in SARATOGA as of June 29 2008 has been on the market for about 50 days.
Price Per Square Foot

The median price per square foot for homes in SARATOGA as of June 29 2008 is about $724
Homes for SaleThere are about 102 properties on the market in SARATOGA as of June 29 2008.

If you are a buyer in Saratoga now is a great time to be purchasing a home. Give me a call and we can talk about options to get you in your dream home.

Cheers,

Mark

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

Real Estate Market Conditions in Sunnyvale

Real Estate Price Trends

The median single family home price as of June 29 2008 for SUNNYVALE is $2,113,434.
Housing Market Conditions

With a Market Action Index as of June 29 2008 at 19.42, SUNNYVALE is currently a buyer's market.
Home Sales and Demand Trends

The average property in SUNNYVALE as of June 29 2008 has been on the market for about 50 days.
Price Per Square Foot

The median price per square foot for homes in SUNNYVALE as of June 29 2008 is about $724.
Homes for SaleThere are about 102 properties on the market in SUNNYVALE as of June 29 2008.

If you are a buyer in Sunnyvale now is a great time to be purchasing a home. Give me a call and we can talk about options to get you in your dream home.

Cheers,

Mark

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

Bay Area Air Quality in Danger with Recent Fire Activity

Every day in the news we are seeing a new fire break out, either in the 9 county Bay Area or nearby. It appears that California is experiencing an unusually high incidence of wildfires this early in the year. According to the California Department of Forestry and Fire Protection, there are currently 1,032 fires active in the state, burning over 132,000 acres, with only 232 are contained. Almost 12,000 firefighters are battling these blazes at the time of this writing, and my understanding is that more are being hired as the summer fire season progresses.

Right now four fires are throwing smoke our way:
In the north, the Wild Fire in Napa/Solano Counties began on Saturday burning over 4000 acres, and is now 100% contained. Only 1 outbuilding was destroyed.

The Whitehurst/Hummingbird Fire west of Gilroy and Morgan Hill in Santa Clara County began on Saturday afternoon, and has claimed a total of about 994 acres. The Hummingbird Fire is 100% contained, and the Whitehurst was 95% contained at last report.

A bit further south in Monterey County, the Indians Fire has been ongoing in Los Padres National Forest since June 8th. Spread out over the park's 58,000 acres, it is reported to be 71% contained.

A new Basin Complx Fire has broken out just above Monterey, and is comprised of two fires over 20,000 acres. So far 16 residences have been destroyed, with 500 more threatened. It is only 3% contained as of last night.

Smoke from wildfires in northern and central California is currently affecting air quality in the Bay Area. The Bay Area Air Quality District is reporting that air quality in portions of Alameda, Contra Costa, Marin, Solano, and Sonoma Counties is forecast to exceed federal health standards today. They are advising residents in areas affected by the smoke to be cautious and avoid unnecessary outdoor activities.

Stay safe and stay inside.

Cheers,

Mark

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

Some useful links and websites I think will add some value to your life and neighborhood IQ.

Schools: STAR 2007, the state of California site for rating schools. Go

Amenities: Walk Score, to rate how many coffee shops, head shops and restaurants are near a particular house runs a little slow but it’s sweet… GO

Prices: Trulia’s pricing heat maps, which it kills me to link to, are pretty good (chance of reciprocity, ZERO)…GO

Pricing Trends: AltosResearch has good graphs on pricing and days-on-market trends by neighborhood, even if the data is sometimes glitchy. GO

Toddler-Friendliness: Playborhood, a cool Valley blog on jungle gyms and real estate is well written.GO

Public Records, Ad Nauseum: PropertyShark is great for getting all the demographic data on a neighborhood and every public record on a property. It’s an awesome site. You have to register, but the spam isn’t bad. GO

Cheers,

Mark




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

Downtown Campbell Art Walk

Come and experience the ArtWalk in Downtown Campbell every third Friday of the month!! This month is on June 20, 2008

Come and experience the ArtWalk in Downtown Campbell every third Friday of the month!! The Downtown Campbell ArtWalk is a casual, "tour-on-your-own" style art walk. It's a great opportunity to visit with the artists and view their exciting new works in a friendly, casual atmosphere; just get our map and brochure at any of the participating galleries. Including several galleries, showrooms, and studios, Downtown Campbell is the place for art lovers to be!

Downtown Campbell Art Walk E. Campbell Avenue streets, Campbell 408.241.0001

Look for to seeing you at the event.

Cheers,

Mark

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

Campbell Summer Concert: The Houserockers (public event)

The City of Campbell's 2008 Summer Concert Series gets off to a rocking good start with The Houserockers! The Silicon Valley Houserockers is a rock and roll band out of Los Gatos that plays the greatest rock and roll songs ever recorded. With a wailing 5 piece horn section and rock solid rhythm section of two guitars, bass, drums, and keyboard, they bring the timeless rock and roll and rhythm and blues classics to life. It's a recipe for a great time and the Houserockers deliver the goods!

For more information on The Houserockers, please visit: http://www.svhouserockers.com

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

Don't Forget Pop's on Father Day!

Let's face it, Dads are used to getting the short end of the stick, even on Father's Day. While Mom is showered with flowers and prezzies on her special day, dear ole Dad often gets stuck with argyle socks and a hug. This year, let's rally and hook Pops up with something special.

Cheers,

Mark

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

Featured Events In the Upcoming Weeks

Grapevine Tasting Event: Cheap Date Night w/ Grilled Cheese

Downtown Willow Glen Come on down to The Grapevine in Downtown Willow Glen for one of our wonderful tasting events!
A Willow Glen tradition continues as we grill up a absolutely decadent collection of hot, gooey, tummy-busting gourmet grilled cheese sandwiches.
Cost is $20 per person. To reserve a space,
The Grapevine 1389 Lincoln Avenue, San Jose408-293-7574

Burgers & Beer @ good tastes

Hot burgers and cold beer in Downtown Campbell. What could be better on a balmy June evening? good tastes turns into your favorite roadside dive for burgers & beer night! (Of course, you've gotta build it yourself and here you get to top yours off with tasty ingredients like artisinal cheese.)
$12 bucks per person includes a burger, a beer, napkins ('cuz you'll need em), tax and gratuity. Yes, there will be a selection of wine if you prefer. Still hungry? Burgers solo are $6.
Prepaid reservations are required for this event. Reserve a prepaid spot online today, call us with a credit card handy, or drop in to the shop. Our regular small plates menu will not be available. Must be 21 or over to attend.

Reserve Today Good Tastes 379 e campbell ave, campbell (408)370-5705

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

4 Tips for Selling a House in a Slow Market

It's no secret that the days of houses selling like Beanie Babies are over. After real estate appreciated at jaw-dropping rates during the first half of the decade, home prices and sales tallies have dropped precipitously in recent months—tilting market dynamics to favor buyers over sellers. That doesn't mean your house won't sell, just that the playing field has changed. So here are five tips to help you get a timely sale at a fair price in today's reshuffled housing market.

1. Make those repairs. While in years past it may have been enough just to cut the grass and retouch the paint, anyone looking to sell in today's market will have to take care of those more onerous repair projects as well. "The buyer that might have bought a fixer-upper five years ago now has an opportunity to purchase a short sale or a foreclosure," says Ronald Phipps, president of Phipps Realty in Warwick, R.I. "So if you have a property that needs a lot of work, you are competing against real estate-owned [properties] that are compelling rather than interesting." So fix the leaky roof, call the plumber, and rebuild the staircase. "The modest repairs should be done," Phipps says. "Frankly, repairs period should be done."

2. Price to the market. Unfortunate though it may be for sellers, demand for real estate has softened significantly. That means, in many cases, sellers will have to bring down their asking price below what the house might have fetched just a couple of years back. "The best advice that real estate practitioners can give [home sellers] is, 'If you aren't prepared to sell at fair market value, then you probably ought to wait,' " Phipps says. "The properties that are selling are selling at or slightly less than fair market—it is very, very rare to have a premium house."
By setting an asking price above market value, homeowners risk driving potential buyers away. "People think, 'Well, I'll run it up the flag pole at [an above-market] price, and people will come along and make a [lower] offer. That is not really happening in this market," says Elizabeth Blakeslee of Coldwell Banker Residential Brokerage in Washington, D.C. "If people perceive your property is being overpriced, they will just move on to the next." Lowering the price may be difficult, but if you want to sell your home in today's market, grit your teeth and do it. A good agent can run a market analysis on your property to give you an estimate on what you should price your home at? Web sites like http://www.trulia.com/ and http://www.zillow.com/ can help give you a general idea but these sites sometimes are not updated with the correct info.

3. Be flexible. Ensuring that your house is ready to show at all times will make it easier for prospective buyers to see it. So make your bed each morning and clean up the dishes before heading off to work, just in case someone may want to come by at the last minute. In addition, homeowners should be willing to disappear on Saturday and Sunday afternoons if potential buyers are free to see the property. "Access is very important," says Shari Kruse of Prudential Northwest Realty in Seattle. "Things like limiting the hours of showing or requiring an appointment because you have a pet are reasons for real estate agents to bypass your house when they go to show."

4. Bite your tongue: If a potential buyer comes in with an offer you consider too low, resist the urge to turn up your nose, Blakeslee says. After all, it takes a considerable amount of paperwork to make a formal offer, so even a low bid signals interest. "You need to respond—even though you are indignant and insulted," Blakeslee says. "Do a serious counteroffer. You have nothing to lose by countering, everything to lose by rejecting it out of hand."

Cheers,

Mark Thomason

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

Six Secrets of Internet Home Buying

With the worst housing slump in a generation slashing home prices across the country, the dynamics of the market have shifted squarely in favor of buyers. And as the real estate industry grows increasingly Web-savvy, house hunters can now scour through neighborhoods, inspect front porches, and even peek inside bedrooms from the comfort of their desktops. But while this surge of new information can help you find that perfect home, it can also--at times--make the whole process overwhelming. Here are six ways to ensure that your online real estate search is as efficient and effective as possible.

1. Know when to say when. There are plenty of ways to waste time on the Internet. When it comes to home buying, searching through properties you admire--but can't afford--tops the list. So before you grab for that mouse, contact a lender and get preapproved for a mortgage. That way you'll know exactly what you can afford. "It's not difficult," says Elizabeth Deal, senior vice president of ICBA Mortgage, a subsidiary of the trade group Independent Community Bankers of America. After contacting a lender, prospective home buyers will typically be asked to provide information about their income and debts, Deal says. (In some cases, lenders will want to see a credit report as well.) From that information, the lender will be able to issue a letter outlining the price range that the buyer can afford. The whole process can take as little as a half-hour, Deal says.

2. Find the right tools... Real estate search engines are getting better and better. Pat Kitano, a cofounder of Domus Consulting Group, which works with real estate brokerage firms on technology marketing strategies, calls Trulia.com "the most complete national site." Kitano also recommends DotHomes. Jay Thompson, of Thompson's Realty in Arizona, suggests using Zillow.com or Realtor.com, the official site of the National Association of Realtors. Realtor.com "has probably the most listings of any national site," Thompson says. "Just about anything that is on a local [multiple listing service] will be on realtor.com." But rather than limit your search to national search engines, Thompson says, it's a good idea to visit the Web sites of real estate agents and brokers in the market that you are considering as well.

3. Instead of trying to pinpoint the one "best" search engine, home buyers should put together a list of resources and use them in tandem. After all, no single search engine can provide a complete picture of the entire housing market. But by using several as a group, prospective home buyers can get a much better look at the inventory. "A consumer has to go to multiple sites to figure out the whole landscape," Kitano says

4. Be alert. Some online real estate resources now offer e-mail alerts or RSS feeds that provide instant notification of new listings and other information of interest to prospective home buyers. Sign up! This is a great way to stay on top of the changing real estate market as your home search progresses. "Rather than actually pulling the information from a particular source, you want that information pushed to you," says Douglas de Jager, cofounder of DotHomes. "It saves you time."

5. Find a good blog. Few resources allow home buyers to take the pulse of the national and local markets like real estate blogs. "Real estate bloggers know in real time what is going on in the market," Kitano says. Like anything else on the Internet, some blogs are better than others. Shop around. Use your favorite search engine to find a couple of blogs that cover real estate in the markets you are interested in, bookmark them and click through them every day. (Pay special attention to the blogs with the most comments and postings.) By and large, the real estate blogging community understands the dynamics of today's housing market in the way few others do. They've emerged as an important voice on housing issues and a wonderful resource for prospective home buyers.

Remember House Hunting via the internet is a great thing but to help you weed through all the clutter a great agent is something you can’t do with out.

Cheers,

Mark

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

Fannie and Freddie Helping Out the Jumbos

It’s been a few months since February, when Congress approved the temporary rise in the limits of the mortgages Fannie and Freddie could buy. Jumbo loans, which was once defined as anything above $417,000 is now capped at $729,750 (just until the end of 2008). Overall goal to lower jumbo interest rates, and bring relief to those expensive housing areas where the median home price is well over half or even three quarters of a million dollars. In this case, these words of Congress didn’t translate to much action as jumbo rates continue to be expensive relative to their “conforming” peers - sometimes one to one and a half percentages points so.
However, this past week, the Wall Street Journal reported that Fannie and Freddie have gotten on their game face and have been more aggressively purchasing these jumbo loans which have helped bring these interest rate spreads down.
A quick rate check on Bankrate for the San Rafael-Novato area indicates that with 20% down, the rates on a $417,000 or a $729,750 loan are quite similar. Looks like it’s working in these parts! For a 30 year fixed at either of those amounts, Countrywide is quoting 6.125% and no points.
Since this cap is set to expire at the end of this year (the article notes that Congress is trying to permanently reset the cap to at least $550,000), this may spur some more buying activity in the bay from those who’ve been sitting on the sidelines these past few years.

Cheers,

Mark

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

OPEN HOUSE THIS SUNDAY JUNE 1st 2-5pm
20023 GLEN ARBOR CT, Saratoga, CA
Impressive Saratoga Ranch Style Home on Large 1/3 Acre Lot. Top Cupertino Schools, fabulous open floorplan filled with wonderful natural light. Very Spacious 2312 Sq. Ft. Saratoga single level home in a quiet and peaceful setting. Windows bring the outdoors into the home. Park like setting in the backyard.Updated kitchen with Granite Slab Counter Tops. Items you would expect: Air Conditioning Unit, Dual Pane Windows. The Expansive Back Patio offers a pool, Grass, mature trees & plenty enough space for Play, BBQ & Dining. Easy Freeway Access to Highway 85 Property Disclosures avaialble online please email me a request to view Just Move In, You Don’t Need to Change a Thing!

Stop by and take a look. More pictures

Cheers,

Mark


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

Summer at the movie's, how do you save?

Some great movies are coming out this summer. (see list below) If you hate paying over $10+ dollars for movie tickets I have found a website that allows you to purchase movie passes at up to 40% off. You can use the tickets anytime and they are even including free popcorn passes with purchase. Visit http://www.discountmoviepasses.com/ to start saving on movie tickets today!

See you at the movies.

Cheers,

Mark

Upcoming Summer Movie's

You Don't Mess With the Zohan

Mongol

The Incredible Hulk
WALL-E

Australia

The Go-Getter

Indiana Jones and the Kingdom of the Crystal Skull

The Wackness

Eagle Eye

Sex and the City

The Promotion

The Last Mistress

Kung Fu Panda

Watchmen

The Mummy: Tomb of the Dragon Emperor

Trumbo

Get Smart

City of Ember

The Love Guru

Traitor

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

June:
June 7, 10am-6pm; free.
Story Road Tamale Festival-Festival celebrating Latino heritage with food, live music, and dancing. yay.
June 7-8, 10am-6pm; free.
Sunnyvale Art and Wine Festival
Wine tasting, beer, food and crafts booths.
Dancin’ on the Avenue. , Willow Glen.
Dancing, food, beer, music. All in downtown Willow Glen. What more could you want?
June15, 11am-8pm; free
Juneteenth San Jose- Celebration of African American heritage.
Cesar Chavez Park in downtown San Jose.
July:
Fillmore Street Jazz Festival
July 5-6; 10am-6pm; Free
Featuring three stages of continuous live music, street cafes and carts and crafts booths. www.fillmorejazzfestival.com for more information.
Obon Festival
July 12-13; free
Largest Japantown cultural happening of the year. Food, dancers, music.
408.296.1195 for more information.
Gilroy Garlic Festival
$6-$12; July 25-27; 10am-7pm
30th Annual Garlic Festival. Cook-offs, food, music, and more.
408.842.1625 for more information.
August:
Santa Clara County Fair
August 1-3; 408.494.3100 for more information.
Beer Festival
Yes, there is a Beer Festival here in the Bay Area. I am super duper excited. Please note that this is one of my more looked forward to events of the season. Monterey Fairgrounds hosts this miraculous event. $25-$30, 12:30pm-5pm. Enjoy beer from 60 different breweries, live music, and of course good food. Check out local motel listings for a place to stay that night, because there is no way in hell you will be driving. Drink responsibly. 831.373.2843 for more information.
Comcast San Jose Jazz Festival
Annual festival with over 80 acts of performing jazz artists. August 8-10; $5, children under 12 are free (I remember those days). www.sanjosejazz.org for more information. I will definitely be there. Will you?
Comcast Art and Soul Oakland
Three days of music, food, art, poetry, and entertainment in downtown Oakland. August 30-September 1, 11am-6pm; $5-$10, children under 12 are free. www.artandsouloakland.com for more information.
Monterey Bay Reggaefest
12th Annual Music festival in Monterey Bay. Rasta man. August 29-31. 831.394.6534 for more information.
September:
San Francisco Blues Festival
“World’s oldest blues festival” is on September 28 is free. September 26-28, call 415.979.5588 for times and prices.

Have a great summer!

Cheers,

Mark

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

Santa Cruz Mountains Winegrowers Vintners' Festival A Taste of the Mountains

This two-weekend event includes attractions such as tasting of special wines, food, music, art exhibits, winery tours and barrel tasting. This is your best opportunity to purchase the great wines this region has to offer."A Taste of the Mountains"May 31 & June 1, 2008 (Western Side)June 7th and 8th, 2008 (Eastern Side)11pm - 5pm *Restaurant locations close at 4pmLocated at various area winery and restaurant locations to be determined. $30 in advance, $35 at the door

Cheers,

Mark




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

Upcoming Events at Sunset Magazine

First up is the Celebration Weekend being held Saturday and Sunday, June 7th and 8th from 10 am to 5 pm. Plan on heading down to the Sunset headquarters off Highway 101 and enjoying a day of cooking demonstrations, gardening exhibits and demos, music, food, and long list of exhibitors. You can head to the cooking stage and check out any of the 14 scheduled events and meet celebrity chefs Ted Allen, Joey Altman, or Joseph Keller. Or, if you are in the process of landscaping or want to learn more about gardening, there will be 14 demos, with something sure to enlighten you. And over 100 vendors and exhibitors will be there to share their wares, from Cedar Lake Cottage Goods to Pierce Ranch Vineyards to a Hands-On Garden Project. There is something for everyone.
Tickets for the event are not available in advance. General admission is $12, Seniors $10, and children under 12 are free. ($1 savings if you park at Sun Microsystems and take the shuttle over or if you bike to the event). There is also a free shuttle from the Menlo Park Caltrain Station. For more information, go here.
Then, on June 27th, the 2008 Menlo Park Idea House will debut. For two months, this new home located at 85 Willow Road, will open its doors to the public. Decorated using the old and the new in a French flea market chic style, this two-story home will show you news ways of using old items when decorating, provide landscaping ideas, and give you some tips on being green. Tours will be available Fridays, Saturdays, and Sundays from 9 am to 6 pm. Tickets for the event are not available in advance. General admission is $15, Seniors $12 (Fridays only), and children under 10 are free.

More details on this event can be found by visiting Sunsets Website Sunset.com

Look forward to seeing you at the event.

Cheers,

Mark

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

Gas prices got you down?

With all the worry over fuel prices, you'd think drivers would do whatever they can not to waste gas. But look around and you'll see lots of them tooling around as if they owned their own tanker fleet. One of them might be you. Here are six ways drivers typically waste gas every on every trip:
1. Racing away from green lights
When the light turns green, you don't have to take off as quickly as possible. That pedal under your right foot is called the "gas pedal" for a good reason. The more you press down on it, the more gas you're pumping into the engine.
Press lightly on the gas pedal, and you'll still accelerate, and you'll still get where you're going. You might be surprised at how little pressure it takes to get your car up to speed in a reasonable time.
2. Racing up to red lights
When you're driving down the street, and you see a light red light or stop sign up ahead, you should lay off the gas sooner rather than later.
There's no point in keeping your foot on the gas until just before you reach the intersection. Let off the pedal sooner and give your engine a rest as you coast to the stop while braking gently. As an added benefit, your brake pads will last longer, too.
By themselves, these first two tips can improve your fuel economy around town by as much as 35 percent, according to tests conducted by automotive information Web site Edmunds.com.
3. Confusing the highway with a speedway
Even if it doesn't involve hard acceleration, speeding wastes gas. The faster you go, the more air your vehicle has to push out of the way. It's like moving your hand through water. The faster you try to move your hand, the harder the water pushes back.
In tests by Consumer Reports, going 75 instead of 65 miles per hour reduced fuel economy by between 3 and 5 miles per gallon, depending on the vehicle.
4. Bumper-buzzing
Tailgating is a bad move for many reasons. First of all, it's unsafe. You reduce your ability to react if the car in front of you slows or stops. It also means you have to pay ultra-close attention to that car which reduces your ability to scan for other hazards ahead of you and to the sides.
And tailgating wastes gas. Every time the driver ahead taps his brakes, you have to slow down even more than he did. (That's because you can't react immediately so you have to slow even more because you're slowing down later.) Then you accelerate again to get back up to speed and resume your bumper-buzzing routine.
Hang back and you'll be safer - plus you'll be able to drive more smoothly and use less fuel. A good rule of thumb is to allow two seconds of space between your car and the one ahead. You can figure that out by counting off two seconds after the car in front of you passes an obvious landmark like an overpass.
5. Driving standing still
You've probably heard that it takes more gas to restart a car than to let it run. Maybe that used to be true, but it isn't anymore. With modern fuel-injection engines, it takes very little extra gas to restart a car once it's warmed up.
Idling, meanwhile, burns about a half-mile worth of gas every minute, according to the California Energy Commission. That's why hybrid cars shut down their gasoline engines whenever they stop, even for a moment.
Now you don't want to shut your engine down for every little stop in your regular, non-hybrid car - it's not designed for that - but if you're waiting for someone to run in and out of a convenience store, turn off the engine.
And don't go through the drive-through at fast food restaurants. You're already paying enough for the oil in those chicken nuggets.
Bonus tip: Don't idle your engine to let it warm up before driving. It does your engine no good and it wastes gas. Instead, start driving right away, but drive gently until the engine is warm.
6. Short hops
For really short trips, take advantage of the opportunity to get some exercise. Try walking to the store instead of driving. You can save gas and burn a few calories instead.
If you can't hoof it, save up your errands. A lot of short hops that let the engine cool down at home between trips can use twice as much gas as starting the car once and making a big sweep to all your stops, according to the U.S. Department of Energy.
Go to your farthest destination first so your engine has a chance to reach its optimal operating temperature. Then make your other stops on the way back. With the engine warmed up, the car will restart easily and run efficiently all the way home.
Are you feeling the pinch of high gas prices? Tell us how gas prices are affecting you and what you're doing to cope. Send us your photos and videos, or email us to share your story.

Have a great holiday weekend,

Mark



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

Is It Time To Buy?

Depending On City, Ask any realtor what the most important factor in a home's cost is, and the answer will be, "Location, location, location." The location of a home can dictate whether a buyer can get a huge, spacious home for their family or tiny condo. Some hot areas almost guarantee an inflated price for the size of home and amenities included. New York City, San Francisco, San Jose, Miami and Honolulu are some of the more expensive areas to buy a home, but others include Chicago, San Diego, Seattle and even some parts of Minneapolis. The median home price in the U.S. was $200,700 in March 2008, according to the National Association of Realtors.
The most expensive area of the country is the northern California area of San Jose, Sunnyvale and Santa Clara with a median home price reached $845,300 in 2007. The least expensive area is an area including Pennsylvania and Ohio with average home prices of about $72,600. One thing I think is very important is location, where even in a soft market prices continue to rise. Most of my listings in Saratoga/Sunnyvale are still receiving multiple offers over asking.

Prices aside, there are many other important aspects to consider when purchasing a house in a market where prices are unstable.
#1 Hire a good experienced agent.
Their may be agents willing to discount. But a good agent will save you more dollars when purchasing or selling to cover the cost's of any commissions they may get.
Visit the Neighborhood
"Check out the neighborhood," "Don't just drive through it, spend some time in it and take a walk." If you like an area, consider other neighborhoods nearby. Sometimes an adjacent neighborhood can have a similar feel with a lower price tag.
Assess the House
Items to check: Check water pressure by flushing the toilet Check outlets for drafts Test the floor to make sure there aren't soft spots Check appliances to ensure they do work
Hire an Inspector
Many home-buyer resources stress that the new buyer make sure to have their potential home inspected, but that's not enough.

Cheers,

Mark



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

Festival Fridays: A La Carte & Art Festival

There is no way you should be staying indoors this weekend. If you aren't hiking Mt. Tam, picnicking in Huddart Park, or kayaking on the Bay, you should head on down to Mountain View, the venue for the A La Carte & Art Festival. For twelve years, this food-themed multi-ethnic art festival has attracted some of the best local chefs and artists from around the West Coast. There is a juried art show (over 250 exhibitors), several music venues, food galore, and a farmer's market. You can check out local wine and microbrews, cooking demonstrations, 11 local bands, and even the kids have their own place to have fun and hang out at the Fun Zone.

BONUS: Once you are done in Mountain View, you can head to neighboring Los Altos and Fine Art in the Park. Sponsored by the Rotary Club, this annual event takes place in Lincoln Park and features original art, unique gifts, food, entertainment, and free parking. Atu/Sun 10-5:30.

Cheers,

Mark

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

Any Thoughts?

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

Home Value Trends in Cupertino

First Quarter: January-March 2008

According to Zillow's latest Home Value Report, home values in Cupertino increased 7.0% in the first quarter of 2008, compared to the first quarter of 2007. Nationally, single-family home values decreased 7.5% while condo values declined 9.0% during this same period. Use this information to help keep your clients informed.

The Market is picking up and I see a great summer for Real Estate over the next several months.

Cheers,

Mark

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

Greener Choices with the U.S. Postal Service

Did you know that the wood and paper industry plants 1.7 million new trees every day—over 650 million each year, more than making up for all the products made of wood? In fact, since 1987 U.S. forests have increased by 12 million acres to 755 million nationwide—about the same as 100 years ago.

RecycleThe Environmental Protection Agency recognizes all mail as recyclable mixed paper waste, so don’t forget to add yours to the recycle bin when you’re done with it. And many shipping materials, like that cardboard box your shoes came in, can be recycled in your local recycling program.

ReuseSpeaking of that box your shoes came in, isn’t it the perfect size for sending your niece’s birthday gift? You can also shred old direct mail and reuse it as packing material to hold that gift in place.

Not only can you recycle the mail you receive, but you can also share your magazines and catalogs with family and friends, or donate them to hospitals, clinics, and doctors’ offices for the waiting room, to retirement communities, and to schools for use in art projects.

ReduceWhen you move, make sure to update your address. This ensures that you receive the mail you want and reduces waste.

---Source: USPS http://www.usps.com/.

Cheers,
Mark

Your Silicon Valley & Sunnyvale Real Estate Professional

Mark Thomason

RE/MAX Real Estate Services

408.850.3085

How much does it cost to install solar panels on your home?

Installed cost will run from $10/watt to $13watt for what is called a 'on grid system' meaning you are hooked to an electric meter now. (30 to 40 thousand dollars) A standard 3-Kwh system costs between $25,000 and $40,000 installed, before rebates and incentives. About 50 percent of the system's total price is the panels; 30 percent to 35 percent of the cost is an inverter (for the 'on grid system' which turns the direct-current electricity 'DC' the panels produce into the alternating current 'AC' that you can use), a forward- and reverse-running meter, mounting hardware, conduit, and wire; the remaining 15 percent to 20 percent is labor, permit fees, and taxes. Maintenance costs are extra.

If you want an 'off grid system' you'll have to add nearly a third or more the system cost for batteries inverters etc.

Interested in finding out more about solar and how it can help increase your home value while decreasing your monthly PGE bill? Contact me today.

Cheers,

Mark

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

NEW LISTING
Don't miss this beautiful 12 years new Saratoga home for under $1M! Top Cupertino Schools: Blue Hills Elem, Kennedy Middle, Monta Vista High. This is the best home currently listed under a $1.1M in all of Saratoga. I look forward to your visit this weekend.
Pride of Ownership in this Beautiful 12 year new Saratoga home in a quite setting that enjoys the top Cupertino Schools: Blue Hills Elementary, Kennedy Middle School, and Monta Vista High School. This home has soaring ceilings, a large wall of windows facing mature trees to the backyard, and has been meticulously maintained in like new condition. Best Home listed in Saratoga Under $1.1M!
Hands down the best home under $1.1M in Saratoga with Monte Vista High, Kennedy Middle and Blue Hills Elementary. Open Houses on Sat. 5/10 from 11:30-3:00 and Sunday from 1:00-4:00
More photos and information on this property: http://www.kenyoncourt.com
18228 KENYON CT Saratoga, CA 95070



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

Retailers Offering Rebate Check Deals

Lowe's Cos. is offering its most loyal customers $10 off their next $50 purchase or $25 off their next $200 purchase when they turn their checks into its "project starter" cards.

Home Depot Inc. is encouraging customers to spend their refund checks on energy-efficient products, with promotions on florescent light bulbs and Energy Star appliances.

Safeway Inc. announced a plan to give a 10 percent discount on groceries to Club Card members who cash their rebate checks at the store beginning May 14.

Cheers,

Mark

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

Sunnyvale, CA Home Prices Remain Strong

The question I hear everyday is what’s going to happen with home prices in Santa Clara County?
The buyers I’m speaking with wanted to know when home prices were going to drop in Sunnyvale. My response: “I don’t see home prices significantly dropping in Sunnyvale because the demand for housing in this area is too high.”

Isn’t it odd with so many regions of the U.S. facing a glut of inventory included many communities in the Santa Clara County (San Jose: Alum Rock, Berryessa, North Valley, etc.) that the City of Sunnyvale is the exception, not the rule?

I was curious to find some data to back up my statement, and I found it. See below for the details. Since the year 2000 on a quarter-by-quarter basis, the City of Sunnyvale never saw its inventory rise above 245 single family homes. Even at that time, the Average Days on Market was 23 days, averaging 48 homes sold per month. At the peak of the market, Q2 of 2005, the numbers were: Total Inventory - 113, Average Days on Market – 13, with approximately 100+ homes selling per month. Granted, we could go back further and probably find a time when home values did drop; the period after the 1989 Loma Prieta earthquake, or maybe the late 1960’s when the aerospace industry left the valley. Rather, let’s look at the current facts which could cause home prices to drop:

Lack of Demand – Not likely for three reason’s:
1) Limited land mean’s limited places to build.
2) Local population continues to increase.
3) The local job market and economy continue full steam ahead.

We are seeing limited Access to Credit – Yes, we’re seeing some impact due to tight credit right now but this should change in the next qtr.

Now is the time act if you want to own a home in Sunnyvale, California. I project once we’re in the summer buying season we may be looking at multiple offers all over again.

Cheers,

Mark

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

Top 10 Things Not to Do to Decorate Your Home to Sell

1. Put in Expensive New CarpetIf your carpet is dirty and dated, it is a good idea to pull it up. But don't replace it with the best money can buy. Find a modest quality carpet at a modest price and get it put in. Whatever you choose will make the home look cleaner and better cared for and you can save thousands of dollars over pricey carpet. The buyers will probably replace it, anyway, with what they want.

2. Install Top-of-the-Line Appliances in Your KitchenThere's no doubt about it! New appliances are a good selling point. But don't buy gourmet cook-style top-of-the-line appliances. If your stove and dishwasher are dated, get new ones. Many home buyers want to use their own appliances, especially refrigerators. And the features that are important to you might not be to them. Remember, you're doing only what you have to do to sell the home.

3. Retile Your Bathroom with Carrera MarbleThe point here is that the bathroom should look clean and fresh. It doesn't have to look like a bathroom in a 5-star hotel if you have a modest home. Maybe you'll get the result you need by simply removing old dirty caulk around the tub and replacing it with fresh caulk. Or do a good cleaning with the proper cleanser to get the tile sparkling.

4. Put in a Swimming PoolYou may have a wonderful back yard that would be the perfect place for a swimming pool--and you've dreamed of having one since you bought the house. But the expense can be prohibitive, installation can take forever, and many buyers just don't want to be bothered with pool maintenance. Instead, spend several hundred dollars with some colorful landscaping. Clean up the weeds and trim the trees. Plant some sod in the bare spots. You'll get your money back with a happy buyer.

5. Paint Your Child's Bedroom to Match the BedspreadHome buyers are looking for their new home, not yours. Keep the walls neutral and buy inexpensive bedding or window treatments to show off the room they'll live in. If your daughter's favorite colors are lavender and pink, do not paint the walls for her. The buyers will just look at them and think of all the work they'll need to do as soon as they move in.

6. Install Expensive Custom DraperiesMore and more, fussy, heavy, floral window treatments are out. If you must put something on the windows, choose simple side panels or cut-to-measure blinds on all the windows. The look will be uniform throughout the home and the buyer will see a clean pallet to decorate to their own taste when they move in. Keep it simple and see the offers come in.

7. Paint the Outside a Color to Make Your House Really Stand OutIt's true, you do want your home to stand out on the block. But it should attract buyers by how well it fits into the neighborhood, not by how it sticks out like a sore thumb. The exterior might need freshing up and perhaps a good power wash might do the trick. Then consider re-painting the front door, since that's the first thing a buyer will see. If you must paint the house, choose a color that is in harmony with the neighbors.

8. Cut Down All the Trees So People Can See the HouseIf your home is set in the middle of a jungle of weeds, bushes, and trees so that no one can see it, by all means, trim everything back. But mature trees on a property are worth their weight in dollars. Professional tree-trimming is costly, but it's better to get it done so that potential buyers can see what they're buying.

9. Put in Custom Garage OrganizersWho wouldn't love to have a fully-organized garage space, with tools hanging neatly against the wall and the floor clean of oil spills? Dreamy! But not worth spending money on. Get everything in order, put stuff in storage boxes that you can take with you, clean the floor, get rid of junk.

10. Fill in Empty Walls With Family Portraits and Your Child's ArtworkYou have an empty wall in the living room and lots of great family photos, framed and ready to hang. But don't! In fact, you should remove as many family photos as you possible can. For one thing, you don't want a lot of strangers looking at pictures of your adorable kids. In addition, home buyers should be able to visualize their own family pictures on the walls, not yours. Get rid of them!

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

Gas Price Watch

With soaring gas prices at the pump it's always great to know where the best bargains are. Here are several tools that will help you find the cheapest gas prices in the Bay Area.

GasPriceWatch.com All areas
San Jose Gas Prices
Find The Best Gas Prices In The East Bay
Gas Prices in San Francisco

Cheers,

Mark

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

Heads Up for my Valued Clients,

Interest rates are set in two primary ways. With the Fed meeting today and tomorrow, remember that short term rates (credit cards, ARM’s, HELOC’s) are highly influenced by the Federal Reserve. And the Fed keeps a close eye on inflation: if the Fed fears that prices are rising too fast, it will raise rates to slow the economy. But longer term rates, like 30-yr mortgages, are set in the open market. They are partly a bet on how well the Fed will control inflation but also reflect supply and demand. Basically, if there are lots of people with money to lend, and not so many who want to (or are able to) borrow it, rates go down. Rising commodity prices, however, are complicating the Fed’s job – it cost me $40 to fill up my car yesterday on my way to buy rice!

Call me for current market…

Cheers,

Mark

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

"Set the stage"

Hire a staging expert. Staging is to the interior of a home what curb appeal is to the exterior -- nipping and tucking, furnishing and accessorizing, buffing and polishing until the place looks like a model home, without appearing too clinical. The new look will pay for itself in terms of sales speed or a higher sales price.

Cheers,

Mark

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

Economic Stimulus Payment On The Way
The U.S. government began distributing economic stimulus checks today, several days ahead of schedule. Tax filers who qualify and who opted for direct deposit may receive their checks as early as this week. Review your finances before spending your stimulus check. Consider using this money to pay off any high-rate loans, such as credit card debt. Or begin building an emergency fund. April is Financial Literacy Month, so take this opportunity to learn more about your personal finances.

Cheers,

Mark

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

Happy Monday:

This is a good article I wanted to share with you from The Wall Street Journal about credit scores, their current relevance, and what you can do to get yours the highest possible.

http://online.wsj.com/article/SB120882316731333133.html

Cheers,

Mark

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

Great House Value Tool!
If you want to see more data about the homes SOLD around your home or a home you're looking to purchase. This Real Estate Tool will allow you to make your own comparison on the features of the home that matters to you.

http://www.svhousevalues.com

This tool is absolutely free with no hidden obligations or sales ads.

Enjoy,
Mark Thomason
408.850.3085
RE/MAX Real Estate Services

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

Looking for a Real Estate Deal?
Here are some links to Bank Owned Properties (REO), Foreclosures and more...

Just remember...Contact me when you find the property you are considering and I can find out all the details of that property and negotiate the best possible price for you.

REO ASSET LINKS - FREE SERVICES
bankofamerica.reo.com
countrywide.com
downeysavings.com
reo.com
resales.usda.gov
1800fremont.com
homesteps.com
mortgagecontent.net

FREE TRIAL SERVICES
foreclosures.com
realestateforeclosures.net
foreclosurestogo.com
hudhouses.com
buybankhomes.com

FREE MEMBERSHIP
foreclosurestore.com
postforeclosure.com

PAID SERVICES
realtystore.com
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Mark Thomason - 408.850.3085

Home purchasing advantages are on there way...

People are talking and wanting to know how the President’s stimulous package is going to affect our real estate market. The proposal which is being quickly pushed through Congress definitely has consequences for the prices of property.
It will positively affect the availability of FHA loans, we are likely to see the FHA loan limit increase to $700K. This will open up down payment options for buyers to as low as 1.5%. Currently the minimum down payment is at least 10% for most loans. FHA loans are more liberal and this will open the door to thousands of buyers to jump back into the real estate market.
And, the package encourages the directors of Fannie Mae and Freddie Mac (the main purchasers of conforming loans – those under $417K) to increase their loan limits to 125% of the median home price in their given area. Again, this increase will essentially give buyers about a 1% reduction in interest rates saving thousands per year in mortgage interest.
Help does apprear to be on it's way.

The Real Estate market has put on the brakes but not stopped.
For all of 2007, existing home prices fell 1.8% and represented the first nationwide decline in houses since the Realtors started tracking this data over 40 years ago. However, we have experienced historic gains of over 100% in the past several years in many parts of the country, so 1.8% year over year decline is not so bad. If the stock market doubled in the past three years and the market then declined 1.8% - would it make headlines? We are seeing a buyer’s real estate market along with mortgage rates at three year lows.
Also of note, there are rumors that the conforming limit may be raised from $417K to $625,500 as it already exists in Hawaii, Alaska, Guam and Virgin Islands. It’s just a rumor but if it were to happen this would be a sensational opportunity for all our Jumbo clients as essentially it would represent a 1% reduction in interest rates. Let's all hope this conforming limit does get raised.

What the Fed Cut means to our Mortgage Rates?

On days like this, I think it’s important to go back to the ol’ mortgage primer and figure out exactly what all this news means to you, to your mortgage, to your home equity line and to your home’s financial future. I’ve said it before, and I’ll say it again: the 30-year fixed is not tied to short-term treasuries.
Fixed mortgage rates are tied to long-term bond yields that move based on the outlook for the economy and inflation. And guess what? The long-term outlook for the economy isn’t exactly rosy right now.

Today’s rate cut does affect short-term adjustable rate mortgages, but not really as much as you might think. Why? Because this rate cut was already priced into the market, maybe not three quarter's point, but definitely a half-point. So if you are facing a reset on your ARM, you’re in much better shape today than you were just six months ago.
For example, if your rate adjusts Feb. 1st, and your ARM is pegged to the 1-year treasury, than your reset is going to be to 5.25 percent as opposed to the 7.5 percent that it would have been in August. That’s going to make the payment much more manageable.
So does this cut stem the foreclosure crisis? Maybe a bit on the margins, but not really, and here’s why: the bulk of the folks facing foreclosure because they can't make their monthly payments have no equity in their homes and no money to put down on a refinance.
While rates might be lower, this is a market where lenders and investors are much more aware of risk and will gravitate toward borrowers that represent less risk. So many folks will still find themselves in trouble. For people who are having trouble paying the initial rate on the loan, forget it. No help there.
As for those looking to buy a home, that is, get a new mortgage, while ARM rates may be lower, the mortgage landscape is still a far far different tundra than it was just a year ago. You can’t do a stated income loan anymore, and you can’t do 100 percent financing. Tighter standards don’t change with a rate cut.
And I want to add my two cents here about a home equity line of credit. Yes, the rates are lower now, but I really don’t think that means we should all start using our homes as ATM’s again, which is what got us all in trouble in the first place. This is a time to pay off debt, not to gather more. The housing market is still in trouble.
The statement from the Federal Reserve this morning: “incoming information indicates a deepening of the housing contraction as well as some softening in labor markets.” We all know the price correction in housing is still underway with home prices across the nation (yes, I know, some markets worse than others) expected to fall further, so this is no time to put your home in more hoc. Just my two cents, which I’m putting in the bank as we speak.

Largest Home Pricing Declines are California, Nevada & Florida Top the List!

The latest report is out and this is not good news for the home owners...In turn it's a great sign for the home buyer looking to take the plunge into home ownership.

Please check out the complete article and the whole list...Hawaii is leading the pack as having the largest gain in property pricing. Click here to read the article

Mortgage Interest Rates Have Hit a 26-month Low!

This would be a good time for all those who have adjustable rate mortgages to get that refinance completed! I do expect these rates to hold until at least early January 2008.

Click here for a detailed article on this subject

Mark Thomason
RE/MAX Real Estate Services
408.850.3085

Five Ways to Survive the Housing Slump

Expert advice for would-be sellers and buyers.
By Daniel McGinn | Newsweek

The National Association of Realtors has just launched a new ad campaign touting why buying a house "is a decision you shouldn't postpone any longer" and reminding buyers that "the value of a home nearly doubles every 10 years." But real-estate agents' forecasts have a history of being ridiculously optimistic. At the other extreme, housing bears like John Talbott say homeowners' current woes have only just begun. Here's his advice for would-be buyers and sellers right now:

What was your house worth in 1997?
When John Talbott figures how far prices have to fall, he figures they'll return to 1997 levels, since that was the year in which many of the aggressive lending practices—like interest-only mortgages—really began to take off.

Take a hard look at your mortgage.
"There are very few good deals left in the world for consumers, and fixed-rate, 30-year housing debt is one of them," Talbott says, particularly if homeowners set aside money to pay it off faster than the lender requires.

Follow the bailout talk.
Talbott says most people with adjustable-rate mortgages would be better off with a fixed-rate mortgage, but that makes two assumptions: that they can afford the larger payment on a fixed-rate loan, and they believe the government isn't going to offer some sort of bailout plan for borrowers who've gotten in over their heads with mortgage debt. People in mortgage trouble who are thinking about refinancing would be wise to watch headlines about bailout proposals, he says.

Think about home renovations as an expense, not an investment.
During the boom many homeowners came to believe the money they spent on a new kitchen or bath constituted savings, since improvements would only add fuel to their home's soaring value. The bust should help people understand that every dollar homeowners spend on a renovation rarely pays back $1 when they sell the house, Talbott says. Renovations are mostly about comfort and status, not about improving home values, he says.

It may still pay to sell now instead of later.
With home values down, some people may be inclined to hold off listing a home in the hope of a quick recovery. But if Talbott is correct, home prices have only begun to fall, and someone who can sell his home for 5 or 10 percent less than what he thought it was worth during the boom would do very well.

Mortgage brokers fear 'extinction' if new bill passes

Losing yield spread premiums would destroy revenue model, group says

The National Association of Mortgage Brokers is so concerned that recently proposed legislation would crush its revenue model that it scheduled national teleconferences and prepared sample letters for members to mail to their respective congressmen.

In an e-mail to all NAMB dated Nov. 1, Denise Leonard, the organization's government affairs chairperson, wrote:

"Mortgage brokers are facing extinction. The U.S. House of Representatives is considering a bill that will fundamentally change the way we are paid, outlaw YSP, and legislate underwriting guidelines into law. Additionally, we fear that all subprime lending will cease to exist due to excessive lender liability. …''

NAMB members reported that 500 phone lines were made available for two teleconferences last week -- and all lines were busy. An unknown number of brokers could not get through due to the volume of calls.

The bill, H.R. 3915, is known as the Mortgage Reform and Anti-Predatory Lending Act of 2007 and was recently introduced by House Financial Services Committee Chairman Barney Frank, D-Mass., along with Democratic North Carolina Reps. Brad Miller and Mel Watt.

A mortgage broker is often confused with a mortgage banker. A broker does not actually lend money. A broker acts as a liaison between a consumer who needs financing for a mortgage loan and a lender who has money available to finance the purchase. The broker brings the lender and borrower together.

Mortgage brokers receive a loan fee from either the borrower or the lender, or both. Borrowers may pay brokers an origination fee based on a percentage of the loan amount. In some cases, the broker receives a fee from the lender. Fees paid by the lender to the broker are known as yield spread premiums (YSPs). It is this fee that brokers are concerned about losing.

Mark Thomason - 408.850.3085
Offering Flexible Real Estate Commissions to Save my Clients Thousands!

How to Raise Your Credit Score 100 Points in 45 Days

1. GET RID OF YOUR COLLECTION ACCOUNTS.

Did you know that paying a collection account can actually reduce your score? Here’s why: credit scoring software reviews credit reports for each account’s date of last activity to determine the impact it will have on the overall credit score. When payment is made on a collection account,collection agencies update credit bureaus to reflect the account status as “Paid Collection”. When this happens, the date of last activity becomes more recent. Since the guideline for credit scoring software is the date of last activity, recent payment on a collection account damages the credit score more severely. This method of credit scoring may seem unfair, but it is something that must be worked around when trying to maximize your score. How is it possible to pay a collection and maximize your score? The best way to handle this credit scoring dilemma is to contact the collection agency and explain that you are willing to pay off the collection account under the condition that the all reporting is withdrawn from credit bureaus. Request a letter from the collector that explicitly states their agreement to delete the account upon receipt/clearance of your payment. Although not all collection agencies will delete reporting, removing all references to a collection account completely will increase your score and is certainly worth the involved effort.

2. GET RID OF YOUR PAST DUE ACCOUNTS.

Within the delinquent accounts on your credit report, there is a column called “Past Due”. Credit score software penalizes you for keeping accounts past due, so Past Dues destroy a credit score. If you see an amount in this column, pay the creditor the past due amount reported.

3. GET RID OF YOUR CHARGEOFFS AND LIENS.

Charge offs and liens do not affect your credit score when older than 24months. Therefore, paying an older charge off or a lien will neither help nor damage your credit score. Charge offs and liens within the past 24months severely damage your credit score. Paying the past due balance, in this case, is very important. In fact, if you have both charged off accounts and collection accounts, but limited funds available, pay the past due balances first, then pay collection agencies that agree to remove all references to credit bureaus second.

4. GET RID OF YOUR LATE PAYMENTS.

Contact all creditors that report late payments on your credit and request a good faith adjustment that removes the late payments reported on your account. Be persistent if they refuse to remove the late payments at first, and remind them that you have been a good customer that would deeply appreciate their help. Since most creditors receive calls within a call center, if the representative refuses to make a courtesy adjustment on your account, call back and try again with someone else. Persistence and politeness pays off in this scenario. If you are frustrated, rude, and unclear with your request, you are making it very difficult for them to help you.

5. CHECK YOUR CREDIT LIMIT(S) AND EVENLY DISTRIBUTE THE BALANCES YOU ARE CARRYING.

Make sure creditors report your credit limits to bureaus. When no limit is reported, credit scoring software scores the account as though your current balance is “maxed out”. For example, if you know that you have a$10,000 limit on your credit card, make sure that the limit appears on the credit report. Otherwise, your score will be damaged as severely as if you were carrying a balance of the entire available credit. Credit scoring software likes to see you carry credit card balances as close to zero as possible. If it is difficult for you to pay down your balances, read the following guidelines to maximize your score as much as possible under the circumstances:

• There are different degrees that scoring software can impact your score when carrying credit card balances.

• Balances over 70% of your total credit limit on any card damages your score the most. The next level is 50% of your balance, then 30% of your balance.

• In order to maximize your score without having to pay down your balances, evenly distribute your credit card balances among all of your credit cards, rather than carry a largebalance on one credit card. For example, if you are carrying a $9000 balance on a credit card with a$10000 limit, and you have two other credit cards with a $3000 and$5000 limit, transfer your balances so that you have a$1500 balance on the $3000limit card, a $2500 balance on the $5000 limit card and a $5000 balance on the $10000 limit card. Evenly distributing your balances will maximize your score.

6. DO NOT CLOSE YOUR CREDIT CARDS.

Closing a credit card can hurt your credit score, since doing so effects your debt to available credit ratio. For example, if you owe a total credit card debt of $10,000 and your total credit available is $20,000, you are using 50% of your total credit. If you close a credit card with a $5,000 credit limit, you will reduce your credit available to $15,000 and change your ratio to using 66% of your credit. There are caveats to this rule: if the account was opened within the past two years or if you have over six credit cards. The magic number of credit card accounts to have in order to maximize your score is between 3 and 5 (although having more will not significantly damage your score). For example, if a card was opened within the past two years and you have over six credit cards, you may close that account. If you have more than six department store cards, close the newest accounts. Otherwise, do not close any at all.

7. BECOME AN AUTHORIZED USER.

If you have a short and limited credit history you can ask someone who is a primary account holder to add you to their account as a joint account holder or an authorized user. When added, the primary account holder’s credit card will appear on your credit report. Credit scoring software will treat the added account as though it is your account and you will benefit from the low balance and the long payment history for that account. It is important to remember that being an authorized user is helpful for your credit score only if (1) the person is carrying debt below 10% of the credit limit and (2) has had good payment history on the card for seven years or longer. The longer the history, the better. Being an authorized user is potentially detrimental to your credit score if, for example, the primary card holder carries a high balance onthe card and has had it less than five years.

8. KEEP YOUR OLD CREDIT CARDS ACTIVE.

15% of your credit score is determined by the age of the credit file. Fair Isaac’s credit scoring software assumes people who have had credit for a longer time are at less risk of defaulting on payments. Therefore, even if your old credit cards have horrible interest rates, closing those cards will decrease the average length of time you’ve had credit. Use the old card at least once every six months to avoid the account rating to change to “Inactive”. Keeping the card active is as simple as pumping gas or purchasing groceries every few months, then paying the balance down. An inactive account is ignored by Fair Isaac’s credit scoring software, so you won’t get the benefit of the positive payment history and low balance that card may have. The one thing all credit reports with scores over 800 have in common is a credit card that is twenty years old or older. Hold on to those old cards trust me! Preparing credit is a slow and time consuming process. Full knowledge of your credit profile and how it represents you to creditors and credit bureaus is pivotal to full credit restoration success. Credit bureaus always advise individuals that they have a right to dispute their own credit files, but when the rights of the Credit Bureaus slow you down; you know where to ask for help.

Mark Thomason - 408.850.3085

Happy Halloween - Here are some real estate marketing lines for Halloween...
"Boo! Real estate transactions can be a scary thing unless you have the right agent!

"Trick or Treating for your referrals"

"Don't let your friends and family have a scary experience buying or selling their home"

"No tricks here! Call me and I'll treat you right when it comes to your real estate needs"

"Trick or Treat - your referrals are sweet!"

"I always carve our time for my clients!"

Have a great Halloween!

Mark Thomason - 408.850.3085

Seller finds higher commissions move houses

Here's a tidbit from Sunday's San Francisco Chronicle on the benefits of sellers offering a higher commission for the sale of their home. It makes sense; money motivates in a work setting so it comes as no surprise that real estate agents would be more motivated to show a house offering a higher commission than one offering a lower or no commission.

However, is there a gray ethical area here for buyers agents? If the buyer rep gravitates toward homes with higher commission splits, is the buyer getting the best representation in his own interest? Some Inman News readers have said before that this very situation points to the need for buyers to pay their own agents separately.

Any predictions on where commissions and brokerage business models are headed as the downturn continues to shake out the loads of people who entered during boom years? Will more sellers motivate with cash or brave the new world of Internet offerings for less? Will brokerage models take on new shapes?

Mark Thomason - 408.850.3085
Offering a "Flexible Rate Commission Plan" for all Real Estate Transactions!
24 Clients have saved over $500,000 in real estate commissions in 2007.
Contact me to see how much I can save you!

Why isn't my home selling?

If your home is up for sale and isn't selling, here are some questions to ask yourself:

1) Is your home priced right?
If there are comparables to your home, this should be an easy question to answer. You should also be getting weekly reports from your agent with latest market activity. This will tell you if homes that you are competing with are going Pending plus the price homes are being sold for. If other homes you're competing with are going Pending, you need to ask why theirs and not yours! During the housing boom if you overpriced your home, appreciation would eventually catch up to the price you had it listed at. This is not the case in today's market. If you price it 5-10% above what the comparable value says thinking that maybe you can get the price, you are probably going to be one of the homes that sits on the market with the Days on Market (DOM) increasing. You're going to get the most attention from Buyers and Buyer Agents when you first list your home. You don't want the initial impression of your home to be "another overpriced home".

2) How well is your home being presented?
Look for a home like a Buyer would. Search the Internet search engines and see how easy it is to find your home. Do the photos make you want to see your home? For example, is your main photo a "Wow" photo? Do the interior photos make the rooms look small? Sometimes a few photos is better than a lot of photos. EVERY ONE of your home photos should send a postive message. If not, it should be removed or reshot. Dark photos, photos without Blue skies, photos with cars parked in front of the home, etc. are examples. Also, be careful of the 360 degree panoramic "virtual tours". Most of these don't show a home that well and may cause a Buyer to cross your home off their list. Here is an example of a property website with a floorplan & photos that help sell a home- http://www.7233GlenView.com

If your Realtor's marketing plan focuses on print advertising, chances are after a month or two on the market, you aren't seeing your home advertised as much because of the cost. But, since Buyers are really looking at the Internet, you need your home to show up when Buyers search for real estate in your city.

3) Is your flyer box empty?
This is one of the biggest mistakes Realtors make. An empty flyer box could be sending the message that your home is Pending Sale and off the market. If you are occupying the home, ask your Realtor for a stack of brochures so you can refill the box so you don't miss a potential Buyer. Some Realtors may say "I purposely leave the flyer box empty so I get phone calls" but I think it's more like "I don't want to pay for any more brochures".

4) Are you getting showing feedback?
When a potential Buyer looks at your home, their feedback is valuable. If you start hearing the same comments, then you know something that needs to be fixed. If you have a lockbox on your home, your Realtor should be downloading the lockbox entry log to make sure you know everyone that has viewed your home as some Realtors don't leave their business card behind. Your Realtor should follow up with the Realtors that show your home. This is sometimes a challenge as a lot of Realtors won't return the phone call that's asking for feedback but there are other ways of getting it. I use a system where I've been getting 80%+ response rates from Realtors.

Looking to Protect your Sunnyvale Real Estate Home or Business?

If you're looking to put an alarm system in your home you must now get a permit from the city of Sunnyvale.

New Alarm Permit Fees...The City of Sunnyvale has implemented new alarm permit fees. The annual fee for residential customers is $35, and $70 for commercial customers.

Download an alarm permit application (PDF).

Mark Thomason - 408.850.3085

Your Sunnyvale Real Estate Professional!

Good news as real estate rates in 5-night slide
30-year fixed rate at 5.92%; 10-year Treasury yield at 4.37%

Long-term mortgage interest rates dipped again Tuesday, and the benchmark 10-year Treasury bond yield rose to 4.37 percent.
The 30-year fixed-rate average dropped to 5.92 percent, and the 15-year fixed rate slipped to 5.58 percent. The 1-year adjustable stayed at 5.63 percent.
The 30-year Treasury bond yield was up at 4.65 percent.
Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.
Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.
In other economic news, the Dow Jones Industrial Average jumped 180.54 points, or 1.38 percent, finishing at 13,308.39. The Nasdaq climbed 38.36 points, or 1.5 percent, closing at 2,597.47.

Sunnyvale Real Estate Median House prices are up 4.49%
This is comparing July 2006 to July 2007. The Median Sunnyvale Real Estate House is now worth $768,000.

With that said...The tides are a shifting from a Seller's market to a Buyer's market as you read this Sunnyvale Real Estate Blog. I've not seen such a fast change going on in the market as I see right now. The September home sales numbers will really show what I'm seeing today. Stay Tuned!

If you are a Buyer...You should contact me to see how I can find you the right home along with saving you THOUSANDS. Buyer's get CASH BACK of up to 66% of my buyer's agent commission after I negotiated you the best possible purchase price. Just ask me how!

Mark Thomason - 408.850.3085 or Mark@ThomasonTeam.com
"Your Silicon Valley & Sunnyvale Real Estate Professional"

This Years Santa Clara County School API Scores Just Released!These API scores are driving the Silicon Valley Real Estate prices up in the higher scoring schools.
In the red hot real estate area of Cupertino & Saratoga...Lynbrook High School has surpassed the king of the hill Monta Vista High School in the latest API scores.
Who now will get the higher offers on their homes?

Santa Clara County 2007 Growth Academic Performance Index (API) Report

Mark Thomason - 408.850.3085 or mark@thomasonteam.com
Your Sunnyvale Real Estate Professional, Servicing all of Silicon Valley

Complete Professional Real Estate Services at a Fraction of the Price!
Listing homes at 1%, Savings of $16,000 to $32,000 to the Seller
Up to 66% Cash Back to Every Buyer, Savings of $16,000 to $50,000 to the Buyer

Get a view of the Downtown Sunnyvale Real Estate Mall Renovation Project

This is a way to get a view of the progress of what's going on behind the walls surrounding the old Sunnyvale Town Center Mall. The project is on schedule to be completed by the end of 2008. They have a ton of work to do to get this completed by then.

Watch the progress by clicking here for the web cam. You can take control of the web-cam by clicking the 'control panel button in the upper right corner. This will allow you to move the camera and zoom in and out.

Enjoy!

Mark Thomason - 408.850.3085

Your Saratoga & Sunnyvale Real Estate Professional!

Full Service Realtor at only a 1% Listing Commission.

"Short Sale" a term that will be very common in today's new Real Estate Market.
Here's the definition of a 'Short Sale':
In real estate, a short sale refers to the sale of a property in which the sale price is insufficient to pay off all encumbrances (loans, fees, commissions or debts) and pay the expenses of sale. If the lender is convinced that the owner, for various reasons, is unable to continue making the payments the lender will often agree to take less that the full amount owed to allow the sale to close escrow. The incentive for the bank to approve a short sale is to have the property sell before the loan becomes a problem account on their books.
This process may be difficult to believe but it is a definite possibility. As stated below there are hoops to jump through. Banks are willing to allow individuals to assume the loan if they meet the required criteria. This is a system that works because the banks do not want to hold property for one but they also do not want to pay a fee (at times up to $25,000) in order to send the property through the foreclosure process.
Before a lender approves a short sale they will make two key decisions.
First, can the owner afford to continue making the payments on the property? If they can there is no reason for the bank to eat the loss. Banks will not look favorably upon a borrower that they determine lied to get the loan.
Second, will approving the short sale leave the bank in relatively the same position as they are likely to be in by going though the foreclosure process and then selling the property? If the bank can do significantly better by foreclosing they are likely to do so.
The seller must not receive any sale proceeds for themselves.
If there is a junior lien holder, the discounts can be substantial, sometimes as high as 90% or more. Question two is the primary determinant here. If the senior lender forecloses the junior may get nothing so they may take a deep discount to get something out of the property.
Short sale sellers need to be careful because there is no free lunch. The seller may end up with taxable income in the amount of the debt that is forgiven. The seller may also end up with adverse entries in their credit history. Any property owner considering a short sale needs to seek the advice of competent legal and tax advisor before entering into the transaction.
Note: This Definition courtesy of Inman News

Please contact me with any questions or if you know someone that could use my help.
Mark Thomason or 408.850.3085
Your Saratoga & Sunnyvale Real Estate Professional
Full Service at 1% - contact me to see how much money I can save you.

The Future of Real Estate is here Now!
I believe that I have the BEST Sunnyvale Real Estate Buyer & Seller programs in the business.
First of all you get complete professional representation from me & my team of experienced Realtors.
Second is that you get Full Real Estate Services with no limitations throughout the transaction process.
Third you get to save thousands of dollars and it costs you nothing!

Sellers:
1) I will list you home for a 1% listing commission, this will save you 2% of your sales price.
2) We will also offer 2.5% or 3% to an agent that represents the buyer.
3) If I can find a buyer through my marketing and advertising, you will only pay me a total of 2% for the sale of your home.
This means that on a $800,000 you would save between $16,0000 to $32,000 by listing your home with me & my team.

Buyers:
1) Receive up to 66% Cash Back of the Broker Commission offered. How this works that I keep 1% of the sales price and the rest goes back to you.
2) You get full service representation including working with you personally to understand your housing requirements, showing homes, professional negotiations, inspection reports ordered & reviewed, and much more.
This means that on a $800,000 negotiated purchase you could save as much as $16,000 and that could be applied as cash back after close of escrow, reduction of purchase price of $16,000, or a combination of both. Reduction of purchase price is the most common for my clients as it saves them in the long run on property taxes and the lender will have no issues with a lower purchase price vs cash back.

Please feel free to contact me with any questions about Sunnyvale Real Estate or my real estate cash savings programs.

Mark Thomason 408.850.3085 or mark@thomasonteam.com
Your Saratoga & Sunnyvale Real Estate professional!

Some Good News...Overnight real estate rates down again

30-year fixed rate at 6.22%; 10-year Treasury yield at 4.63%

Long-term mortgage interest rates dipped further Monday, and the benchmark 10-year Treasury bond yield fell to 4.63 percent.

The 30-year fixed-rate average fell to 6.22 percent, and the 15-year fixed rate sank to 5.87 percent. The 1-year adjustable dropped to 5.52 percent.

The 30-year Treasury bond yield decreased to 4.96 percent.

My mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.

In other economic news, the Dow Jones Industrial Average was up 42.27 points, or 0.32 percent, finishing at 13,121.35. The Nasdaq gained 3.56 points, or 0.14 percent, closing at 2,508.59.

Mark Thomason 408.850.3085 mark@thomasonteam.com

Your Saratoga & Sunnyvale Real Estate Professional

California home sales dropped more than 20% in July!

Statewide sales have decreased for the past 22 months and Foreclosure resales accounted for almost 8% of the sales in July. According to the data this is the slowest July in the California market since July 1995. Solano County saw the biggest annual drop in home prices, dropping almost 10% to $415,000. Home sales in a nine county area around San Francisco have decreased on an annual basis in that area for the past 30 months. Home sales in a six county region of Southern California also dipped to a 12-year low for July. The numbers do not lie and most agents are seeing their business slow considerably. The forecasts are even worse for California in the coming year, real estate agents must learn to position their business in this changing market in order to survive! We are definitely moving toward a strong buyers market. If you are considering selling in the next year, I would not wait as the statistics show a continued slow down in sales and property values over the months and possibly year(s) to come.

Please feel free to contact me to discuss how this could effect your situation.
Mark Thomason - 408.850.3085 mark@thomasonteam.com
Your Saratoga & Sunnyvale Real Estate Professional

Real estate rates lower overnight

30-year fixed rate at 6.25%; 10-year Treasury yield at 4.72%

Long-term mortgage interest rates were down Wednesday, and the benchmark 10-year Treasury bond yield fell to 4.72 percent.

The 30-year fixed-rate average slipped to 6.25 percent, and the 15-year fixed rate dipped to 5.91 percent. The 1-year adjustable sank to 5.63 percent.

The 30-year Treasury bond yield was up at 5.03 percent.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.

In other economic news, the Dow Jones Industrial Average continued to fall, plummeting 167.45 points, or 1.29 percent, finishing at 12,861.47. The Nasdaq lost 40.29 points, or 1.61 percent, closing at 2,458.83.

Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.
Stock figures are current as of 7:30 p.m. Eastern Standard Time.

Feel free to contact me with any questions...
Mark Thomason - 408.850.3085 or Mark@ThomasonTeam.com

Your Saratoga & Sunnyvale Real Estate Professional

** Listing homes at 1% with Full Service Representation & Marketing
** Buyers get rebated up to 66% of my Agent Commission

The Price of Hiding Homes Sales Price

RE InfoLink, our Silicon Valley-area multiple listing service with about 21,000 members, this month notified members about a new policy that allows its subscribers to pay a fee to conceal the sale price of a property, at the request of a home buyer or seller.

It's not uncommon for an MLS to have a mechanism to deal with such requests, said Jim Harrison, RE InfoLink president and CEO, though he said that the MLS had long resisted such a policy. What prompted the MLS to change the policy was that some subscribers simply chose to pull a property out of the MLS prior to a sale to avoid reporting the sale price, he said, in which case the MLS would lose out on data related to that sale.

Requests to withhold sales price, say MLS officials, are rare and tend to occur in higher-priced neighborhoods. It's an interesting issue: a desire to keep your own financial matters private vs. the public good in knowing what homes are actually selling for in your neighborhood.

Listing agents who are members of RE InfoLink can pay $500 for the first instance in withholding sales price, $1,000 for the second instance, $2,000 for the third instance, $4,000 for the fourth instance and $5,000 for the fifth and subsequent instances to withhold price information, according to the policy description, and agents must enter the code "SPWHLD" in the confidential remarks for those property listings.

The policy also provides that the "listing agent will close the listing as sold using last list price as the sale price," so agents who are conducting a comparative market analysis should avoid using properties that are flagged as sales price withheld.

Lucien Salvant, a spokesman for the National Association of Realtors, said, "NAR does not have a policy that says an MLS can't institute such a rule."

Any questions or comments?

Mark Thomason - 408.850.3085
Your Sunnyvale Real Estate Professional

Full Service Real Estate at only a 1% Listing Commission.
Buyers get up to 66% CASH BACK on any home.

Country Lane School district home for sale!

This is a 1407 sf wonderfully remodeled 3 bedroom & 2 bath home on a 8712 sf lot.
4263 Mc Kinnon Drive, San Jose, 95130 - Just off Saratoga Ave, near Hathaway Park.

Visit this home at www.McKinnonDrive.com and contact me if you would like to take a look at this home.

Mark Thomason - 408.850.3085
Asante Real Estate Group
Your Saratoga & Sunnyvale Real Estate Professional.

Below are the top visited real estate websites for June 2007 as reported by Comscore Media Metrix. Be sure to add three zeros to end of each number below for actual amount (note: AOL and MSN searches on their site to Realtor.com making up most of their traffic so the numbers from those sites are double counted)

Total Unique Visitors (000)

Rank1 is Realtor.com 5,2932
Yahoo! Real Estate 4,0013
HOMEGAIN.COM 3,4834
AOL Real Estate 2,8875
MSN Real Estate 2,5156
REMAX International, Inc. 2,4767
ZILLOW.COM 1,7878
HOMES.COM 1,7209
HPCInter@ctive 1,68010
NCI Interactive 1,51211
Century 21 International 1,37712
COLDWELLBANKER.COM 1,36913
ZIPREALTY.COM 1,19614
Housevalues Sites 1,12315
HOMESCAPE.COM 1,11116
MLXCHANGE.COM 1,07817
LoopNet Sites 97018
FORECLOSURE.COM 90619
TRULIA.COM 86720
FORSALEBYOWNER.COM 84221
REALESTATE.COM 76222
HUDFORECLOSED.COM 73723
PRUDENTIALPROPERTIES.COM* 67624
CIRCLEPIX.COM 67425
OBEO.COM 66526
WEICHERT.COM 66027
RENTALHOUSES.COM 65628
RENTORS.ORG 59029
MYNEWPLACE.COM 57630
Reply! Inc. 57031
SUBLET.COM 53732
MRIS.COM 49433
RENTCLICKS.COM 47734
INTERNEST.COM 46935
MOVINGGURU.COM 465

Mortgage industry is in Real Trouble: The Day The Credit Died

Published on August 3, 2007 in Wall Street and Mortgage News/Insight. Tags: alt a loans, credit crunch, housing meltdown.
Dear readers - what a day. I wish I could recap everything that happened, and I might get to it this weekend; if I try now I will have been working or on the phone or responding to email or writing for the last 13 hours straight and my wife will kill me - literally. So here is a quick recap:A commenter correctly said that NovaStar was not the only one that ceased funding today; many other lenders did as well. Here is a quick summary of those that I know who temporarily (unless otherwise noted) pulled the lending plug today:
NovaStar temporarily suspends funding due to “severe secondary market disruptions”
1st National Lending Services suspends all of the following products: Jumbo, Alt A, Pay Option Arm’s, and Seconds indefinitely (email to brokers) and throws in a round of layoffs for good measure
First Magnus suspends all jumbo ARMs and expanded and niche products (email to brokers)
Credit Suisse Wholesale suspends Subprime, Second Lien, Choice Payment ARMs and all 2 and 3 year ARMs
Wachovia pulls out of Alt-A temporarily
Wells Fargo pulls out of Alt-A
Aegis Wholesale suspends option ARMs, expanded Alt-A and second lien products (email)
Homecomings eliminates rebate on all Option ARMs (email)
Countrywide increases pricing and fees on the LTV/FICO/ Documentation type grids for all documentation types, adjustments for Subordinate Financing, Cash out transactions and larger loan balances (email)
National City makes changes
IndyMac increases pricing and spreads on Alt-A products
American Home Mortgage workers pack it up
Fieldstone stops funding
Bear Stearns says its the worst they’ve seen it in 22 years
And to cap it all of Cramer melts down on air on CNBC; so much so that the network needs to throw up a disclaimer or as a new friend called it DisCramer. Get that guy a single malt scotch ASAP! What a Friday. So now the question becomes - Will the Fed cut rates on Tuesday to calm the credit market? What are your thoughts? I have my own opinion but I’ll save them for later.

Mark Thomason - 408.850.3085 ThomasonTeam.com

Asante Real Estate Group

Your Saratoga & Sunnyvale Real Estate specialist

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66% Cash Back to Buyers of Agent Commission

Great 11 year new home in Saratoga for under a $1,000,000, Monta Vista High, Kennedy Middle & Blue Hills Elementary. Asking $996,000

1702 SF, 3 Bedroom, 2 Bath, and Updated throughout!

Find yourself in beautiful Saratoga and at ease with this wonderful 11 year new home in a quiet and peaceful setting on a private section of streets. Cupertino's finest schools, city & county parks for your children and a quaint downtown district with shops & fine restaurants for all to enjoy. The updates & upgrades of this fine quality home all speak for itself. Once inside you really appreciate and just absorb it all as it all flows in concert together.

Visit this home at www.ArroyoLane.com

Mark Thomason - 408.850.3085

Sunnyvale, Saratoga & Silicon Valley Real Estate Expert!

Bourdais takes San Jose Grand Prix provisional pole!

Sebastien Bourdais, two-time winner of the San Jose Grand Prix, rallied from 17th place on the time sheet Friday and turned in the fastest qualifying lap to earn the provisional pole for Sunday's race.
Bourdais waited until the 14th lap on the 1.443-mile Redback Raceway to turn in a run of 49.509 seconds with an average speed of 104.926. That gave him his sixth front-row starting spot.
Final Qualifying is today (7/28/07)
The San Jose Gand Prix Race is tomorrow (7/29/07)

If you're shopping for San Jose Real Estate in the downtown area, you just might want to wait until next week.

Mark Thomason - Mark@ThomasonTeam.com
Your Santa Clara County Real Estate Expert!

Attention First Time Home Buyers or Investors...Real Estate For Sale!

I have a new listing (7/27/07) in Willow Glen that can't be beat!

A completely remodeled 1100sf, 2 Bedroom & 1.5 Baths Williow Glen Charmer that has a detached 900sf finished garage with a 1/2 bath. The Land is over 6,500sf and is zoned R2 which means that you can have two living quarters on the property. As an Investor you could easily be getting $1,800 for the house & $1,200 for the converted garage. Asking Price: $635,000

Visit this home at http://www.WillowGlenCharmer.com/

Please contact me if you have any interest in seeing this or any other property.
Mark Thomason - Mark@ThomasonTeam.com
Asante Real Estate Group
Sunnyvale, Saratoga & Santa Clara County Real Estate Expert!

I believe this is the best real estate show on TV! Saturday nights at 9:00 on TLC

The Real Estate Pros takes viewers inside the world of Trademark Properties for an eye-opening and unapologetic look at the world of real estate. This fast-paced series takes viewers along for the ride, as it reveals the true reality of making money in real estate.

Click Here for The Real Estate Pro's website on TLC

If you've seen it of after you do see it please give me your opinion of this show.

Mark Thomason - Mark@ThomasonTeam.com

Your Sunnyvale Real Estate Realtor at 1% Full Service!

Asante Real Estate Group

Sunnyvale, Saratoga & Santa Clara County Real Estate Expert!

Real estate commissions once again are at the center of debate.

A recent "60 Minutes" television segment on commissions and a report issued jointly by the Justice Department and Federal Trade Commission have prompted dialogue around the questions, "Are real estate commissions too high?" and "Does the industry create artificial barriers to lowering them?" While some forms of discounted real estate services have been around for decades, the Internet has enabled some brokerage firms to instill efficiencies, which they say allows them to cut costs and pass savings onto consumers. But critics within the industry argue that these efficiencies many times are at their expense. Many discount firms, they say, are able to cut costs by shoving the workload onto the agent working the opposite side of the deal. Further complicating the debate is a lack of information about commission rates, and recent data indicates the median income of Realtors has decreased. In this three-part special report, Inman News looks at recent research on commissions, the mystery around what agents and brokers can and cannot legally discuss, and how the new discount entrants are collaborating up to add pressure to price.
In Part 1, "Critics come down on commissions,"
Every few years, commissions come under the spotlight and Inman News looks at issues some have raised as inefficiencies in traditional commission models.
In Part 2, "'Mum' is sometimes the word with commissions,"
stringent laws around what constitutes price-fixing often have industry participants saying nothing at all when it comes to talk about compensation. This article looks at what industry participants can and cannot discuss regarding commissions, which can complicate debates over pricing.
In Part 3, "Discount brokerages band together,"
if big discount brokers are grabbing the headlines, that doesn’t mean they have a lock on the discount commission market. In Wisconsin, independent discount brokers have devised a way to band together and share marketing costs, raising their visibility to consumers without giving up their autonomy. This part looks at this group and others forming around the country.

Contact Mark Thomason regarding this article or any Silicon Valley Real Estate questions...
Mark@ThomasonTeam.com or 408.850.3085
Your Sunnyvale Real Estate Realtor at 1% Full Service!
Asante Real Estate Group
Sunnyvale, Saratoga & Santa Clara County Real Estate Expert

Realtors still upset after '60 Minutes' of fame

Some viewers will believe that the characterization of real estate industry practices and pricing in a "60 Minutes" segment that aired earlier this month is accurate -- and there are still people who claim the Earth is flat, said Pat V. Combs, 2007 president for the National Association of Realtors (NAR) trade group.

The "60 Minutes" show stated that the 6 percent commission rate charged by Realtors, which is based on the home's selling price, "is sacrosanct" and "has remained in place, even as the price of homes has quadrupled over the past 25 years." The show also stated that "the sacred 6 percent is under assault from online discounters," and profiled Seattle-based brokerage company Redfin as an example of a discount real estate company.

In my opinion...The real estate brokerage commission is headed for a major adjustment (as 60 minutes reported) as soon as consumers start to understand that you don't have any advantage with a nationwide real estate firm any longer. An independent agent/broker has the tools available to market a property as well if not better than any major brokerage. You need to interview your agent and really understand their complete marketing strategy, negotiation skills and compare this along with the commission they want to charge.

I personally charge Sellers a flat 1% (Savings of $6,000-60,000) to sell their home and pay 2.5%-3% to the buyer agent. I also offer Buyers a Cash Back program that rebates them $6,000-$60,000 on a single house/condo/townhouse purchase. Huge savings with full services including custom home website and extensive Internet marketing for every listing.

Please contact me for any questions or comments...

Mark Thomason 408.850.3085 or Mark@ThomasonTeam.com
Your Sunnyvale Real Estate Realtor at 1% Full Service!
Asante Real Estate Group
Sunnyvale, Saratoga & the Santa Clara County Real Estate Expert!

Sunnyvale Real Estate Demolition at the Town Center Mall is finally under way once again!
Sunnyvale, CA...At a few minutes after 8 a.m. on May 14, crews began the job of tearing down the old Sunnyvale Town Center Mall structure to make way for the new redevelopment project. It is expected to take about two months to finish the demolition work. Sunnyvale Real Estate Downtown is finally on its way to being transformed.

As a third generation Sunnyvale resident of more than 47 years myself, I have seen the Sunnyvale Town Center Mall built and now get to see the next transformation of this prime Sunnyvale Real Estate. As a Realtor, I truely see the increased value of what this upgrade to downtown will do for the surrounding real estate housing values in Sunnyvale.

Please feel free to contact me regarding Sunnyvale Real Estate or any Silicon Valley Real Estate related questions...

Mark Thomason 408.850.3085 or Mark@ThomasonTeam.com
Your Sunnyvale Real Estate Realtor at 1% Full Service!
Asante Real Estate Group
Sunnyvale, Saratoga & the Silicon Valley Real Estate Expert!

Buy your next home for nothing down

Good things come to well-qualified buyers
Are you old enough to remember Robert G. Allen's bestseller real estate book "Nothing Down" from the early 1980s?
I'm showing my age, but I vividly remember that book because a) it explained dozens of creative real estate finance methods, and b) I actually used several of those techniques to buy profitable property for nothing down.

Most of those methods are still viable. But for the majority of today's home purchases, there is no longer a need to use creative seller financing and other innovative methods.
Today's mortgage lenders have become very savvy about the profitability of making low- and no-down-payment home loans, even to borrowers with poor credit. Last year, according to the National Association of Realtors, over 30 percent of home sales involved 100 percent financing in one form or another.
THE DEFINITION OF "NOTHING DOWN."
In real estate "nothing down" means zero cash from the buyer's pocket. However, it doesn't mean the seller won't receive 100 percent cash for the home. Personally, I bought several zero-down-payment houses where the sellers walked away with all cash.
Nothing down really means the buyer is borrowing the entire purchase price.
To illustrate, when you read in the newspaper that a commercial property sold for $50 million, do you think the buyer paid $50 million cash from his savings account? Of course not. Using a combination of a first mortgage, perhaps a second mortgage, plus a bank credit line, the investor-buyer probably didn't even pay the closing costs from his pocket. The same procedures apply to home purchases.
BUYING A HOME FOR NOTHING DOWN IS EASY.
If you are in the market to buy your personal residence but you are a little "cash-challenged," don't let that stop you from purchasing for zero cash from your pocket, just like the real estate tycoons.
Although not every mortgage lender offers zero-down-payment mortgages, a savvy mortgage broker can arrange your no-cash home purchase. Especially if you are a first-time home buyer (defined as not owning a house or condo within the last two years), most mortgage lenders offer extra-easy home finance plans.
But there's a catch. You will need 1) a reliable source of income, and 2) a good credit score. Many lenders now offer "stated income" mortgages where, with good credit, you don't even have to prove your income, such as with W-2s or tax returns.
If you qualify, and many home buyers can, lenders will gladly finance 100 percent, sometimes even up to 125 percent, of your purchase price. But you will probably pay an above-market interest rate, often including PMI (private mortgage insurance) premiums. In other words, "nothing down" isn't cheap.
HOW TO DETERMINE IF YOU ARE A "WELL-QUALIFIED BUYER."
If you pay attention to those "no cash required" radio and newspaper ads for some new houses and condos, in the disclaimer you will usually spot the words "well-qualified buyer." That means you must have good income and good credit.
To check your credit reports from all three national credit bureaus, and determine your FICO (Fair Isaac Corporation) score which most lenders use to rate you as a "well-qualified buyer," just go to http://www.myfico.com/.
For $44.85 you will receive your three credit reports, and your FICO credit score. Each credit report will be different, so take time to compare them and follow the instructions to correct any errors.
Or, at no cost, you can obtain all three of your credit reports at 1-877-322-8228 or http://www.annualcreditreport.com/. However, you will not receive your very important FICO score at this free source.
After checking your credit reports and FICO score, the next step is to get written preapproval for a no-down-payment mortgage. Most major mortgage lenders offer this service, or a mortgage broker can obtain a lender's preapproval written mortgage commitment at a low or zero up-front cost. To obtain a zero-down-payment mortgage, most lenders require a FICO score of at least 680.
Armed with your lender's written preapproval mortgage promise (subject to reasonable conditions, such as appraisal of the home you decide to buy), then you can shop with confidence knowing the maximum mortgage you can obtain.
But don't settle for a lender's worthless "pre-qualification" letter, which just means, "We think you can qualify for a mortgage but we really haven't checked you out yet."
HOW TO BUY A HOME WITH 100 PERCENT FINANCING.
However, if you can't qualify for a no-down-payment mortgage, don't give up. There are many alternatives. For example, many buyers' real estate agents recommend 80-20, 80-10-10, or 80-15-5 mortgage choices. The 80 means the lender makes an 80 percent first mortgage, and a 20 percent, 10 percent or 15 percent second mortgage, often in the form of a home equity loan.
If you can make a 5 percent to 10 percent cash down payment, that makes obtaining financing even easier. A special advantage of keeping the first mortgage at 80 percent or less of the home purchase price is you will avoid the dreaded PMI (private mortgage insurance) premiums.
However, in the right circumstances, "seller financing" might be your best and least expensive choice.
Large real estate fortunes have been earned with this method. For example, real estate tycoon, John Schaub, reports in his recent bestseller book, "Building Wealth One House at a Time," he never obtains bank mortgages when buying.
Another example is small-town realty mogul, Jay DeCima, who explains in his bestselling book, "Start Small, Profit Big in Real Estate," why he buys ugly run-down houses, which no mortgage lender, except the seller, will finance.
LEVERAGE ADVANTAGES OF NOTHING DOWN.
Another name for buying real estate with little or no cash is "high leverage." It simply means the borrower controls the entire property with a small amount of cash.
The big leverage benefit is usually a high percentage profit-per-dollar invested if the property goes up in market value due to capital improvements or sales price appreciation.
For example, suppose you buy a house or condo for $200,000 with nothing down. Because of your good income and good credit, the mortgage lender approves a $200,000 mortgage. Suppose that house appreciates in market value by 5 percent annually, or $10,000 in the next 12 months. What percentage return is that on your investment? The correct answer is "infinite," because your only out-of-pocket expense was probably for closing costs.
However, suppose instead you paid $200,000 cash for that same home and it appreciates the same 5 percent in market value ($10,000) during the next 12 months. Now your return on investment is a mere 5 percent. Of course, you avoided the tax-deductible mortgage payments, so those savings should be added to your return.
As the years go by, the advantages of high leverage on your home usually become greater each year. Of course, there is also risk, especially if you have to sell the home within the first five or 10 years when you don't have much equity.
SUMMARY: There are many advantages, and a few disadvantages, of buying a home for nothing down. But the pros usually outweigh the cons. However, as Allen often said in his "Nothing Down" lectures, "Buying real estate for nothing down is easy; the hard part is making the monthly payments."

Mark Thomason - Mark@ThomasonTeam.com
Your Sunnyvale Real Estate Realtor at 1% Full Service!
Asante Real Estate Group
Sunnyvale, Saratoga & the Silicon Valley Real Estate Expert!

'60 Minutes' to shine light on real estate

Nine-month investigation airs Sunday, May 13

"60 Minutes" is turning its lens on the real estate industry with a segment Sunday night investigating some familiar topics.
The television network has been snooping around the industry, crisscrossing the country interviewing brokers, agents, discounters and government figures.
In January at the Real Estate Connect conference in New York, "60 Minutes" sent a crew to film a debate between Move's Allan Dalton and Redfin's Glenn Kelman.
"60 Minutes" is an investigative television newsmagazine on U.S. television, which has run on CBS News since 1968. The program was created by longtime producer Don Hewitt who set it apart by using a unique style of reporter-centered investigation.

Feel free to contact me about any Sunnyvale Real Estate questions or comments,

Mark Thomason 408.850.3085 or mailto:oMark@ThomasonTeam.com

Your Sunnyvale Real Estate Realtor at 1% Full Service!
Asante Real Estate Group
Sunnyvale, Saratoga & the Silicon Valley Real Estate Expert!

Where to Now for Real Estate

The great American Philosopher Yogi Berra once remarked that “when you come to a fork in the road, Take It.” This is actually more profound than it appears.
When the road forks, you can choose one way or the other, or you can decide to remain there at that point, stopped in the road. Dynamic markets, like real estate, do not stop at the fork. They continue on their way influenced by basic economic principals of supply and demand.
Past real estate moves can help us understand where the market will go from here. For example, when older towns have been revitalized after long periods of decay, they tend not to develop along straight trend lines. Visionaries see the potential of the dilapidated real estate and start to buy. New activity spurs new commercial and retail development and traffic.
Others, including speculators, see this early bloom and follow suit, and prices rise quickly. They rise based on the anticipation of what will be instead of the practical issues of how much income can properties generate. Existing tenants are forced out as their new landlords increase rents based on the costs of acquiring the buildings instead of the rent that can be supported based on existing retail traffic. A new group of retailers starts to move in, replacing the sleepy original tenants; but all struggle, as the town economic activity has not kept pace with the price appreciation or costs.
After a growth spurt, the market needs to pause and take a step back, permitting a new alignment of real estate prices with the underlying commercial activity to support it. The further and faster the real estate appreciation gets in front of the commercial development, the longer and steeper the re-alignment back to a sustainable long-term market.
The residential housing market is at this point of retrenchment. The rapid run-up in prices could not be sustained by the incomes earned here. Further, the “other expenses”, i.e. Insurance and Taxes, exacerbate the affordability problem. It will take a while for the market to adjust itself. It cannot happen overnight, but it will eventually. Prices will come down, expenses too. That gets us through the next few years. After that, we will have to see how fundamental issues play out. Issues such as: How our officials develop growth plans, infrastructure and taxes; and insurance. Those hard choices will help the market determine whether it takes the path of long-term economic health at the next fork in the road.

Contact Mark Thomason for any Silicon Valley Real Estate questions or comments...
Mark Thomason : 408.850.3085 or Mark@ThomasonTeam.com
Your Sunnyvale Real Estate Realtor at 1% Full Service!
Asante Real Estate Group
Sunnyvale, Saratoga & the Silicon Valley Real Estate Expert!

PENDING HOME SALES INDEX HITS LOWEST LEVEL IN FOUR YEARS

Activity in the housing market will remain slow during second quarter as consumers continue to react to tighter lending standards and a decline in subprime lending, according to a recent report from NAR. The Association's Pending Home Sales Index (PHSI), a forward-looking indicator that gauges home sales activity for upcoming months, continued to decline in March, falling 10.5 percent from a year ago to a reading of 104.3. While a PHSI of 100 or more generally indicates a high level of home sales activity, the March PHSI was the lowest reading since March 2003. Despite the decline, NAR economists expect home sales to pick up during the second half of the year.

The PHSI declined across the nation in March compared with the readings a year ago. On a regional basis, the PHSI was highest in the South, where it declined 10.6 percent to 115.2. In the West, the index fell 8.6 percent to 104. The PHSI also declined in the Midwest and Northeast regions, decreasing to 95.9 and 94.2, respectively.

Contact Mark Thomason for any Silicon Valley Real Estate questions or comments...
Mark Thomason : 408.850.3085 or Mark@ThomasonTeam.com
Your Sunnyvale Real Estate Realtor at 1% Full Service!
Asante Real Estate Group
Sunnyvale, Saratoga & the Silicon Valley Real Estate Expert!

On the Mortgage front...Overnight real estate interest rates inch up.
30-year fixed rate at 5.77%; 10-year Treasury yield at 4.67%

Long-term mortgage interest rates rose slightly Friday, and the benchmark 10-year Treasury bond yield stayed at 4.67 percent.
The 30-year fixed-rate average gained to 5.77 percent, and the 15-year fixed rate was up at 5.51 percent. The 1-year adjustable dipped to 5.33 percent.
The 30-year Treasury bond yield increased to 4.85 percent.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.

In other economic news, the Dow Jones Industrial Average jumped 153.35 points, or 1.2 percent, finishing at 12,961.98. The Nasdaq was up 21.04 points, or 0.84 percent, closing at 2,526.39.

Contact Mark Thomason for any Silicon Valley Real Estate or Mortgage questions or comments... Mark Thomason : 408.850.3085 or Mark@ThomasonTeam.com
Your Sunnyvale Real Estate Realtor at 1% Full Service!
Asante Real Estate Group
Sunnyvale, Saratoga & the Silicon Valley Real Estate Expert!

Sunnyvale Residents Extra Curbside Garbage Pick-Up...

During the Sunnyvale Extra Garbage Pick-Up, Specialty Solid Waste & Recycling provides curbside pick-up of extra debris and garbage for Sunnyvale residents in single-family, duplex, triplex, and mobile homes, including those Sunnyvale customers with Baseline service. Just place debris neatly out at the curb the evening before or by 6:00 a.m. on the morning of your regularly scheduled collection day. Please do not put any of your curbside material on top of your Sunnyvale water meter boxes.
Each Sunnyvale resident will have four days on which to place additional discards at curbside. See the 2007 Calendar of Events for Sunnyvale's upcoming Extra Garbage Pick-Up dates. Note: Sunnyvale Drivers will start collection at 6:00 a.m. during Extra Garbage Pick-Up instead of the usual 7:00 a.m. Larger items will be picked up by a separate truck on your regularly scheduled pick-up day.

Contact Mark Thomason for any Sunnyvale Real Estate questions or comments...
Mark Thomason : 408.850.3085 or Mark@ThomasonTeam.com

A Tax Law* that all homeowners should know...

*Please note that I'm not a tax consultant or tax advisor and you should consult a CPA or Tax Attorney to verify any of the information that I'm providing here.

You don't have to live in your property for the 2-year minimum out of the last 5-years to get a TAX FREE gain of up to $250K (single) & $500K (married) on your equity!

If you must move out (see tax statute list below) of your home after only 1-year of living in the property you could still qualify for 50% of the tax free equity. This is based on the percentage of time that this was your primary residence divided into the 2-year minimum.
Every competent tax preparer should understand the partial exemption of IRC 121(c). However, to qualify there must be a valid reason for the home sale after less than 24 months of owner-occupancy.
The tax statute lists (1) health reasons, (2) job location change qualifying for the moving-cost tax deduction (the new job site must be 50 miles further from old home than was old job site), and (3) unforeseen circumstances, such as divorce, unemployment, multiple births from the same pregnancy, inability to pay the mortgage, etc.
IRS regulations spell out the details. The 2007 "CCH Master Tax Guide" and "J.K. Lasser's Your Income Tax" have excellent explanations.

This could be a very valuable tax law for any homeowner to understand. Please pass this on to your friends.

Again, please contact a CPA or Tax Attorney to verify any information that I have provided.

Good Luck! Mark

Would you like to know how your cities Real Estate values compare?
This includes the total number of homes, population and average value.

Well, here they are... City by City in the greater Silicon Valley Area:

SAN JOSE, CA Homes: 211,781 Pop: 915,872	Avg Value: $758,133
ATHERTON, CA Homes: 2,222 Pop: 7,155	Avg Value: $3,135,914
PORTOLA VALLEY, CA Homes: 2,264 Pop: 4,573	Avg Value: $2,165,531
STANFORD, CA Homes: 211 Pop: 13,767	Avg Value: $1,807,699
LOS ALTOS, CA Homes: 13,385 Pop: 27,362	Avg Value: $1,782,857
SARATOGA, CA Homes: 10,643 Pop: 29,551	Avg Value: $1,660,602
LOS GATOS, CA Homes: 12,090 Pop: 27,975	Avg Value: $1,410,350
MENLO PARK, CA Homes: 11,289 Pop: 29,963	Avg Value: $1,295,494
PALO ALTO, CA Homes: 20,945 Pop: 57,738	Avg Value: $1,245,005
CUPERTINO, CA Homes: 15,034 Pop: 51,435	Avg Value: $1,101,473
LOS GATOS, CA Homes: 1,644 Pop: 27,975	Avg Value: $1,050,673
MORGAN HILL, CA Homes: 10,522 Pop: 35,000	Avg Value: $864,067
MOUNTAIN VIEW, CA Homes: 15,263 Pop: 56,500	Avg Value: $849,625
SUNNYVALE, CA Homes: 26,353 Pop: 129,441	Avg Value: $836,168
CAMPBELL, CA Homes: 10,661 Pop: 37,733	Avg Value: $775,930
FREMONT, CA Homes: 54,234 Pop: 207,112	Avg Value: $769,998
MILPITAS, CA Homes: 14,382 Pop: 64,285	Avg Value: $718,730
SANTA CLARA, CA Homes: 23,292 Pop: 104,381	Avg Value: $717,011

We're in a Crazy Real Estate Market Once Again!

Sorry, I've been non-existent in my Blog postings lately due to some craziness in the Real Estate Market. My property listings have been flying off the market with multiple offers once again. I have heard of a few properties getting 20-30+ offers and selling for $100,000+ over the asking price. Just a few months ago the market was seemingly headed to a balanced market and the selling frenzy in once again upon us. If you're selling your home this year, I would seriously consider getting it on the market NOW! That said, it's still very important not to over price your home, even in a hot market.

On the Buyer's side of the market it's not a pretty picture...For one client I've been involved in six offers for properties in the last four weeks and final got them into contract on the property they liked best. Offers over asking price and zero Contingencies are becoming a norm in this market. This is a HUGE problem for the buyer's as they have NO WAY to back out of the contract after an offer is accepted. As a buyer you really need an experienced Realtor that can expose most if not all issues prior to that offer acceptance date. Another suggestion in this type of market is to arrange a meeting with the seller's and their agent to review the disclosures, ask many questions, and get that feeling of comfort with your offer price.

Feel free to contact me for any real estate related questions...

Mark Thomason 408.850.3085

SUNNYVALE OPENS BELOW-MARKET-RATE HOUSING WAIT LIST

SUNNYVALE, Calif. – The City of Sunnyvale will open the Below-Market-Rate (BMR) housing wait list
for a one-month period, beginning February 1. Applications will be accepted by the City’s Housing Division through February 28. The BMR program assists first-time homebuyers who want to buy an affordable home for sale in Sunnyvale and helps meet the need for additional affordable housing within the county.

In order to be eligible for the Sunnyvale real estate BMR program, applicants must live or work in Sunnyvale, and have a total household income within the moderate income range for their household size. For example, minimum income for a household of four people is $73,850, and the maximum is $126,600. If accepted on the waiting list to purchase a Sunnyvale real estate BMR home, homebuyers must submit a full application, verifiable documentation of eligibility, and agree to comply with the program benefits and requirements, which include participation in pre- and post-purchase educational programs.

There are more than 200 BMR homes available for purchase throughout the City of Sunnyvale, and approximately 200 additional BMR homes scheduled to become available in the next three years. Current sales prices for BMR properties range from $190,822 for a one-bedroom home, to $269,115 for a four-bedroom home. At the time of purchase, buyers must have a minimum of 3 percent of the purchase price and closing costs in readily-available funds for a downpayment.

The Sunnyvale City Council created the BMR Home Ownership Program to provide home ownership opportunities for low- to moderate-income households. Residential developers building projects with nine or more for-sale units are required to set aside 12.5 percent of the units as BMR homes to be sold at reduced prices.

BMR applications are available at Sunnyvale City Hall, 456 W. Olive Ave., Sunnyvale Public Library, 665 W. Olive Ave., and on the City Web site at AffordableHousing.inSunnyvale.com. For more information, call (408) 730-7456, TDD (408) 730-7501. Completed applications must be returned to City Hall by 4 p.m., February 28.

SUNNYVALE APPROVES DOWNTOWN REAL ESTATE DEVELOPMENT PLAN
Unanimous vote will allow project sale, construction restart
SUNNYVALE, Calif. – By a unanimous vote, Sunnyvale City Council and Redevelopment Agency (RDA) approved a series of motions that will allow the partnership of RREEF and Sand Hill Properties to purchase the mostly-shuttered Sunnyvale Town Center Real Estate and begin site redevelopment. While the central Sunnyvale Town Center mall buildings have been closed for some time, independently-owned Macys and Target have remained open for business. The actions were taken at the Sunnyvale Council and RDA’s regular meeting last night (Tuesday, February 6).
“We have taken a giant step forward this evening,” said Sunnyvale Mayor Otto Lee, following the meeting. “RREEF and Sand Hill, working with City of Sunnyvale staff, have brought us a project that both meets the requirements of our Sunnyvale Downtown Specific Plan, yet moves well ahead of the plan proposed by the previous developer. This is an exciting project that will move us closer to the vibrant downtown Sunnyvale wants and deserves. I am very pleased my fellow Councilmembers saw fit to unanimously endorse this key development.”
The Sunnyvale real estate project came to a halt in early 2006 when developer Fourth Quarter Properties ceased work on the site after razing a parking garage, the first step in the demolition work. The City of Sunnyvale found Fourth Quarter in breach of their contract and, late last year, began to move to take over the project. That’s when Fourth Quarter proposed selling the project to a joint venture between RREEF, a global financing organization, and local developer Sand Hill Properties.
Complete Article: Click Here

Sunnyvale Real Estate at the Town Center has New Plans for the City Counsel to Approve.
I have put in all the links below to the proposed Revisions of the Sunnyvale Town Center Real Estate. The are all .pdf files and I really like the idea of re-connecting Murphy Ave to help the current Sunnyvale downtown businesses as well.

Design for new Sunnyvale city core adds hotel, more retail space
An ambitious new real estate development team in Sunnyvale says it has stripped previous plans to create a thinly veiled shopping mall in the city's core in favor of a more traditional downtown.
In public meetings last week, Sand Hill Property Co., architects and city planners presented designs for a new Sunnyvale downtown, which would add a hotel, more restaurant space and a supermarket to earlier plans.
Complete Article: Click Here

2007 Sunnyvale Real Estate Town Center Plans - .pdf files/drawings

SUNNYVALE PROPOSED SITE PLANS
Towncenter Coversheet
Towncenter Site Plan - Basement Level
Towncenter Site Plan - Street Level
Towncenter Site Plan - Mezzanine Level
Towncenter Site Plan - 2nd Level
Towncenter Site Plan - 3rd Level
Towncenter Site Plan - 4th Level
Towncenter Site Plan - 5th Level
Towncenter Site Plan - Roof Plan

SUNNYVALE PROPOSED ELEVATIONS
Towncenter Elevation - McKinley
Towncenter Elevation - Murphy Macys Target
Towncenter Elevation - Washington
Towncenter Elevation - McKinley Mathilda
Towncenter Elevation - Site Sections 1
Towncenter Elevation - Site Sections 2

SUNNYVALE PROPOSED PERSPECTIVES
Towncenter Perspective - East McKinley
Towncenter Perspective - Redwood Plaza 1
Towncenter Perspective - Theater on McKinley
Towncenter Perspective - Target on McKinley
Towncenter Perspective - Food Court
Towncenter Perspective - Redwood Plaza 2
Towncenter Circulation Plan - Street Level

SUNNYVALE PROPOSED HEIGHT, SOLAR AND LANDSCAPE PLANS
Towncenter Building Height Plan
Towncenter Sun - Shade Study
Towncenter Landscape Plan - Master
Towncenter Landscape Plan - McKinley Taaffe
Towncenter Landscape Plan - Redwood Plaza
Towncenter Landscape Plan - Murphy

Mobile home life not stable, Sunnyvale real estate issue likely to heat up!

For Sunnyvale City Councilman Chris Moylan, the issue of whether to develop the real estate of some of the city's mobile home parks into houses began when an older woman in a wheelchair grabbed his hand at the holiday tree-lighting ceremony on Murphy Avenue in December.
"Don't close our mobile home park!" she said.
The woman asked Moylan to keep the residents in mind when the council considered redevelopment decisions. Startled, Moylan said he didn't know much about it, but that he would do what he could.
As word of Flick's Mobile Home Park likely closure swirled in early January, residents of Blue Bonnet Mobile Home Park at 617 E. Evelyn Ave. in Sunnyvale said they feared it also will close. If it does, it will be the third in the city to shut down in 12 months.

Complete article: Click Here

Buyer real estate incentives appear to be on the rise! Great news for all you Buyers!
one example:
Wanted: Home Buyer -- $1,000 Reward
A property flier in the San Francisco Bay Area contains the usual information on amenities and price -- but the flip side carries an unusual appeal: "Find a qualified buyer ... and receive $1,000!"
The flier also states, "Wouldn't you like to have your friends or family live in your neighborhood and receive a little extra spending money?" Given that the list price of the home is over $575,000, it stands to reason that a friend or relative who buys the home might want to share in that $1,000, or would expect to negotiate down the price of the property at least $1,000 based on the willingness to hand out that sum to someone who is not directly involved in the transaction. It's not clear from the flier whether the actual buyer or an agent representing that buyer would be able to claim the reward directly if there isn't a third-party buyer-finder involved.
The "$1,000 REWARD" is subject to a restriction: Escrow must close on or before Nov. 30 in order for the person who locates the buyer to receive the money, which will be paid at close of escrow.

This is only one of many real estate incentives I see hitting the marketing of homes these days.

Bargains Aplenty At The Sunnyvale Public Library Book Sale

Terrific bargains on a wide variety of books, movies, and music can be found at the Friends of the Sunnyvale Library Book Sale on from 10 a.m. to 4 p.m., Saturday, January 20, at the Sunnyvale Public Library.

Read the news release.

City of Sunnyvale To Hold Town Center Redevelopment Outreach Meetings
The City of Sunnyvale has scheduled two public meetings to inform the community about the current status of the Sunnyvale Town Center real estate redevelopment project. The meetings are scheduled for Saturday, January 20, 9 a.m., at the Senior Center, and Wednesday, January 24, 7 p.m., at the Community Center.
Read the news release.
Read the community update. (pdf)

Bay Area home prices flat, slow sales
Bay Area home prices were flat last month while the sales pace was the slowest pace in a decade, a real estate information service reported today.

Read the article here

There is a chart at the end of the article that breaks down December stats for each Bay Area County.

Here's another Rare Townhouse for Sale!
In Campbell I have a detached townhouse that is the same as many Single Family Homes except it has a Home Owners Association. The HOA fee is only $151! This is approx 1700 sf with 3 bedrooms and 2.5 baths. Brazilian hardwood floors and with no units attached it has windows on all four sides. Priced at $717,000 Call me if you would like to see this Townhouse at 408.221.8788

Looking for that perfect Townhouse on a Golf Course in Silicon Valley?
Well, if you are then I think I have found the place for you. This is about 2000SF and totally remodeled (about $100,000) throughout the inside. It's located on Pruneridge Golf Course in Santa Clara, just off Saratoga Ave & Pruneridge. Open House today (Sunday 1/7) from 1:00-5:00. If you miss the Open House then just call me at 408.221.8788 and I will personally show you this gorgeous Townhouse.
Here's the MLSListings link to the Property: 2479 Golf Links Circle, Santa Clara

Mark's Market Watch

Sunnyvale, CA Real Estate
Single family:
* Homes for Sale: 41
* Pending Sales: 47
* Average Days on Market (DOM): 34

Condo/Townhomes:
* Homes for Sale: 17
* Pending Sales: 19
* Average Days on Market (DOM): 46



Sunnyvale Homes for Sale: Click here (includes Condos & Townhomes)

If you have any Commercial Sunnyvale Real Estate Interest...
You can search any type of commercial real estate in Sunnyvale by going to this link through the City of Sunnyvale's web page or just click here.
The types of Commercial Sunnyvale real estate includes and not limited to Land, Multifamily, Office, Retail, Residential Income, Industrial, Hotel/Motel, Shopping Centers and more.

You can search any other cities for Commercial Real Estate interests by going directly to LoopNet at www.LoopNet.com.

You can always contact me to help you with your Residential and Commercial Real Estate needs. Mark@ThomasonTeam.com

Home Sales decrease 22.2 percent in November, median price of a home in California at $555,290, up 1.4 percent from year ago
LOS ANGELES (Dec. 21) – Home sales decreased 22.2 percent in November in California compared with the same period a year ago, while the median price of an existing home increased 1.4 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
“After fairly steep declines in sales during the first half of the year, the market appears to have stabilized at about 450,000 sales on a seasonally adjusted annualized basis,” said C.A.R. President Colleen Badagliacco. “The median price is holding steady in the $545,000 to $550,000 range, and increased just 1.4 percent last month compared with a year ago.”
Closed escrow sales of existing, single-family detached homes in California totaled 450,930 in November at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity decreased 22.2 percent from the 579,560 sales pace recorded in November 2005.
Complete Article: Click Here

New real estate developer approved for Sunnyvale downtown
In an effort to revive the long-delayed, multi-million dollar real estate redevelopment of downtown Sunnyvale, the city council has unanimously approved transfer of the project to a new developer. The Sunnyvale City council, acting as the Sunnyvale Redevelopment Agency, granted permission at its Dec. 12 meeting for Fourth Quarter Properties to continue negotiations to transfer the 34-acre property and development agreements to San Mateo-based Sand Hill Properties and its financial backer, RREEF, a worldwide financial organization.
Sunnyvale Council members and city staff agreed that the transfer represented the city's best shot at getting the $400 million real estate renovation of the downtown quickly back on track.
"I think we have a very strong developer here," said council member Melinda Hamilton. "It's a positive step in the right direction.''
The real estate redevelopment plan is a mixed-use project designed to convert the old Sunnyvale Town Center mall into a traditional downtown with more than 1 million square feet of retail space, a quarter million square feet of commercial office space, and almost 300 housing units.

Complete article: Click Here

Welcome to Sunnyvale

A GUIDE FOR NEW OR CURRENT SUNNYVALE RESIDENTS

Thank you for being a resident in the City of Sunnyvale. If you've just moved to the City of Sunnyvale, welcome home! This guide is a resource to help you get settled and better understand Sunnyvale as a whole community. It is available for download in PDF format (PDF 1.92 MB). Please be aware that this is a large file that may take several minutes to download.

Click Here to Download

Shop Sunnyvale

Every time you dine out at a Sunnyvale restaurant, purchase a car at a Sunnyvale dealership, rent movies at a Sunnyvale video store or buy any item in Sunnyvale, you're helping the City provide our nationally recognized public services. Every dollar you spend in Sunnyvale directly benefits city services. We can all feel safe, drive on clean, well maintained and lighted streets, relax in our community's beautiful parks and enjoy many other city services, all because of you and our community's valuable businesses. The 9,400 retailers, hotels, restaurants, corporations and home-based businesses located in our City contribute 70% of total revenues to the Sunnyvale General Fund. That's about $63 million annually. So let's keep making our Sunnyvale community one of the best in the nation.

Shopping Center Map
This map will show you the locations of Sunnyvale shopping centers. To view the stores and services available at those locations, select the shopping center. This will provide you with a list of different services and contact information.

Sunnyvale Hotels Map
This map will show you the locations of Sunnyvale hotels. To view contact information and/or hotel web pages, select the hotel name. *Hotel names will link you to outside web pages.

Sunnyvale Auto Row
This link will provide you with a list of auto dealerships located on El Camino Real.

The Sunnyvale Auto is currently promoting the "Support Our Schools" Program. In partnering with the Sunnyvale School District Education Foundation (SSDEF), Sunnyvale Auto Row is pleased to announce the formation of the "Support Our Schools" Program. This program started on February 1, 2006 and will continue until June 30, 2006. Click on Auto Row - Support Our School Program to view promotional brochure.

Yahoo! Yellow Pages
This link will take you to the Yahoo! Yellow Pages for Sunnyvale businesses. If the business you are looking for is not in a shopping center, you can use this link to search for it.

Support your local Sunnyvale businesses!

Sunnyvale Safety and Sobriety Checkpoint Scheduled for December 22
Sunnyvale Department of Public Safety officers will conduct a DUI safety and sobriety checkpoint from 10 p.m. to 3 a.m., Friday, December 22. Sunnyvale will operate the checkpoint with assistance from other regional law enforcement agencies. Cars traveling northbound on Mathilda Avenue between Maude and San Aleso Avenues will be randomly stopped and checked. Officers will look at the safety of the vehicle, the operator’s license and state of sobriety. News Release: Click Here

Caltrain Gate Opens on Hendy Avenue in Sunnyvale
Caltrain arrives in Sunnyvale as viewed through the newly-opened Hendy Avenue gate. Residents can now enter the Multimodal Transit Station from Hendy on the north side of the tracks.

Sunnyvale Pop Warner Jr. Midgets won the Division II National Championship in Florida! Also, Oak Grove (San Jose) Jr. Midgets won the Division I National Championship.What a fantastic accomplishment by all the coaches and kids!
Way to go SUNNYVALE and OAK GROVE!

Watch out...this could cause our Sunnyvale real estate market to jump by popular demand.

Sunnyvale's Pop-Warner Football team is Playing to Qualify for National Championship in Florida today. Great job Sunnyvale!I am happy to report, that the Sunnyvale Micro Rockets won their first game in Florida. They beat a team from the San Diego area 24-8. The Sunnyvale Micro Rockets qualifing championship game has just started (Friday 12/8 at 1:00 EST) and you can get the results under the Jr Midgets games in just a few hours: Click Here If Sunnyvale wins today they will play for the National Championship on Saturday(tomorrow).

Previous article:
Sunnyvale Micro Rockets blast off for Florida...
Disney World long has been a celebration place for football success, honoring the Super Bowl's Most Valuable Player. San Francisco 49ers greats Steve Young, Joe Montana and Jerry Rice all made visits to the Magic Kingdom in Orlando, Fla., following MVP performances and Super Bowl victories.
Now, a team of 31 middle school-aged boys from Sunnyvale and Cupertino is in Orlando, trying to turn an already magical season into a national championship.
The Sunnyvale Micro Knights, newly crowned champions of the Pacific Northwest Region, traveled to Orlando last weekend for the Pop Warner Super Bowl.
In all, 64 regional winners from eight Pop Warner regions converged upon Disney's Wide World of Sports athletic complex for the annual weeklong event. A total of 68 games played on eight different fields will determine eight national champions. There are four age/weight classifications (midget, junior midget, peewee and junior peewee) and two divisions of each class.
The Sunnyvale Micro Knights, whose players are ages 11-13 and weigh no more than 130 pounds, are vying this week with seven other regional kingpins to be the king of the Division II junior midget class. The Sunnyvale Micros entered Super Bowl Week with a 13-1 record, including three victories in the Peninsula Pop Warner Conference playoffs and three more in the Pacific Northwest Regional. During the journey they outscored opponents 305-28, and registered 11 shutouts.
Complete article: Click Here

A little off the subject of Real Estate...
I have just returned back to Sunnyvale from a short lived 1.5 days in the Central Coast of California. I was just south of San Luis Obispo in Arroyo Grande visiting and working with a friend & his family. Soon after I arrived we went to the Pismo Beach Sand Dunes for a couple of hours of incredible fun. There was less than 20 people to be found in the many miles of sand dunes and the weather was about 65-70 degrees, NO fog and NO wind. This was truly a perfect day! Oh, what a BLAST! We escaped without injury and stories to tell for years to come.
We also stopped by a Monarch grove with thousands of butterflies amongst the eucalyptus trees, that was worth seeing any day of the week. We also played some Frisbee golf at a park that has 27 Frisbee golf holes throughout a sprawling park that never seemed to end. Avila Beach was another stop that we swung on the swing sets on the beach with next to no one around. That's something I haven't done since I was 12 years old. We also took his dog Chip on a long walk on the beach in with only the moon light and the tranquil sounds of the ocean to guide us. OK, this would have been much better with my wife!
We did manage to do some real estate work from time to time as well.

Deadline is today for Submitting Notice of Interest
in Onizuka real estate in Sunnyvale

For Nonprofit and Government Agencies Interested in Onizuka Property

SUNNYVALE, Calif. –The Sunnyvale City Council, serving as the Onizuka Local Redevelopment Authority (LRA) for Onizuka Air Force Station, is seeking notices of interest (NOIs) for surplus Sunnyvale real estate at the installation from state and local governments, homeless service providers and other interested parties. The deadline for filing an NOI is 5 p.m., Tuesday, December 5, 2006.
A listing of surplus property at Onizuka Air Force Station was published by the Department of Defense in the Federal Register, May 30, 2006.
NOIs for homeless assistance may be submitted by any state or local government agency or private nonprofit organization that provides – or proposes to provide – services to homeless persons and/or families living in Sunnyvale.

Overnight real estate interest rates in 4-day slump
30-year fixed rate at 5.61%; 10-year Treasury yield at 4.43%
Long-term mortgage interest rates were down again Friday, and the benchmark 10-year Treasury bond yield slipped to 4.43 percent.
The 30-year fixed-rate average dipped to 5.61 percent, and the 15-year fixed rate sank to 5.39 percent. The 1-year adjustable held at 5.3 percent.
The 30-year Treasury bond yield decreased to 4.55 percent.

Rates continue to slide down more this week as well...this is really a good time to consider a refinance or home purchase loan!
Contact me and I will personally refer you to a professional lender I know...(California Properties Only)

Numourous burglaries in the Sunnyvale residential community area known as 'Bird Land".

SUNNYVALE, Calif. – Sunnyvale Department of Public Safety (DPS) is seeking the public’s assistance in solving a series of residential burglaries in the City’s southeast area.
The burglaries, which began November 1, generally occur during early evening hours, typically on a Friday or Saturday. After the residents leave their homes, the suspect or suspects enter the residence through a rear window or sliding glass door, taking money and jewelry. The burglar apparently knows the difference between costume jewelry and valuable items.
No suspect description is available, nor has a possible vehicle been identified. The crimes have generally been in residential areas south of Evelyn Avenue, east of Sunnyvale-Saratoga Road, and as far south as the Sunnyvale city limit.
DPS Crime Prevention Bureau staff reminds the public it is important to report suspicious activity immediately, and residents should always report suspicious persons or vehicles in their neighborhood. To report any emergency or crime in progress, call 9-1-1. For non-emergencies, call (408) 730-7180. More information on burglary prevention is available on the City’s Web site at CrimePrevention.inSunnyvale.com and then follow the link to Residential Crime Prevention, or by calling DPS at (408) 730-7140, TDD (408) 730-7501.

Home prices still getting weaker
First time in six years that any state reported prices falling over a 12-month period, government agency says.
Home prices rose in the third quarter but at a slower pace than in the second quarter, a government agency said Thursday, the latest sign that the housing market is still trying to find a bottom.
The Office of Federal Housing Enterprise Oversight (OFHEO) said that housing prices nationally edged up just 0.9 percent from the prior quarter, leaving them up 7.7 percent from a year earlier. That was down from the second quarter's gains of 1.2 percent quarter-to-quarter and 10.1 percent year-over-year. Complete Article: Click Here

Excellent Holiday Event for the kids and the whole Family! Downtown Sunnyvale This Saturday Evening...
Christmas Tree Lighting, Food & Cheer: 4 p.m. - 8 p.m., 100 block of Murphy Ave., Downtown Sunnyvale. Come join the ceremony and share in the holiday spirit. For more information, contact the Sunnyvale Downtown Association at (408) 404-6655.

C.A.R. reports sales decrease 28.7 percent in October, median price of a home in California at $548,680, up 2 percent from year ago
Home sales decreased 28.7 percent in October in California compared with the same period a year ago, while the median price of an existing home increased 2 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
“While it appears that home sales have stabilized over the past three months, it’s too soon to say whether or not the market has bottomed out,” said C.A.R. President Colleen Badagliacco. “We do expect smaller year-over-year declines in home sales for the remainder of the year.
Complete Article: Click Here

When Is a Real Estate Agent a REALTOR®?
A real estate agent is a REALTOR® when he or she becomes a member of the NATIONAL ASSOCIATION OF REALTORS®, The Voice for Real Estate®, the world's largest professional association. The term "REALTOR®" is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and abides by its strict Code of Ethics.
Founded in 1908, NAR has grown from its original nucleus of 120 members to more than 1 million today. NAR is composed of REALTORS® who are involved in residential and commercial real estate as brokers, salespeople, property managers, appraisers, counselors, and others who are engaged in all aspects of the real estate industry.
Members belong to one or more of 1,700 local associations/boards and 54 state and territory associations of REALTORS® and can join one of our many institutes, societies, and councils. Additionally, NAR offers members the opportunity to be active in our appraisal and international real estate specialty sections. REALTORS® are pledged to a strict Code of Ethics and Standards of Practice.
Working for America's property owners, the NATIONAL ASSOCIATION OF REALTORS® provides a facility for professional development, research, and exchange of information among its members.

Map Based Search to find Residential Rentals Across the US! Pretty Cool...
HotPads.com - Search for Apartments for Rent, Rental Houses, Homes, Sublets, and Roommates

MARKET COMMENT
Last week was definitely a slow week. The Thanksgiving holiday truncated trading in equity and credit markets and meaningful economic data releases were non-existent. That said, it was also a surprising week, and pleasantly so in the mortgage markets, where rates continued to fall to levels unseen since the first quarter of 2006. On that front, the 30-year fixed-rate mortgage averaged 6.18%, the 15-year fixed-rate mortgage averaged 5.91%, and the five-year Treasury-indexed adjustable-rate mortgage averaged 5.99%, according Freddie Mac’s Primary Mortgage Market Survey.

What's up with the Sunnyvale Downtown redevelopment project? Too many details and options still exist but, it's possible that construction could start as early as August/September of 2007. To obtain all the up to date details on the downtown Sunnyvale real estate projects...Click Here

Looking for that Perfect House in Downtown Los Gatos?
Don't miss this one at $5,995,000!
Check out the website at www.HistoricEstate.com.













Welcome to 133 Glenridge Avenue, the architectural jewel of the premier avenue of West Los Gatos. The home was built in the Neo Classical style in 1909 by one of the area’s first industrialists. It is the ultimate stop on the Historical Homes of Los Gatos Tour. Revitalized, warm and accommodating; this is the home you’ve been looking for.
It was lovingly restored over several years, applying the personal touches that reflect the quality of a bygone era. Generous windows, many with their original leaded glass, allow the light to flow into the house. Music and illumination follow you from room to room, as the sophisticated home automation system senses your presence. Beyond the tree-shaded patio, there is a delightful 1,200± sf self-contained guest residence, completely restored with the same uncompromising quality as the main house. Truly this is the house that combines the beauty of master craftsmanship, the lineage of history, and the convenience of modern living.

Another 1.5 acres of the Sunnyvale Olson family cherry orchard evolves into a shopping mall. But, don't be concerned...The CJ Olson Cherry stand is still open daily and going strong under the guidance of Deborah Olson.
While the southwest corner of El Camino Real and Mathilda Avenue in Sunnyvale no longer holds an Olson family cherry orchard, there is still a sense of history at the site.
On Nov. 9, Yvonne Olson Jacobson and her husband William Jacobson, along with and their family and friends, cut three red ribbons at the new Cherry Glen Plaza. On the corner, in clear view of the thousands of cars that pass by each day, are nine cement sculptures that tell the story of Sunnyvale's agricultural past before high technology, cement and commercial outlets came into prominence.
Emeryville-based artist Scott Donahue spent the past five months sculpting the pieces in clay, casting them in plaster and finally pouring cement to make the final products. In addition, each gray-green sculpture has several toy-sized brass-casted icons of the valley, including early-model trucks and grain silos.
The artwork was inspired by Olson Jacobson's book, Passing Farms, Enduring Values.
Complete Article: Click Here

Sunnyvale's DUI Checkpoint Location...
Safety and Sobriety Checkpoint Scheduled for Wednesday November 22, 2006. The Sunnyvale Department of Public Safety officers will conduct a DUI safety and sobriety checkpoint from 10 p.m. to 3 a.m., Wednesday, November 22.
This year, Sunnyvale will again operate its own checkpoint. Cars traveling northbound on Mathilda Avenue between Maude and San Aleso Avenues will be randomly stopped and checked. Officers will look at the safety of the vehicle and the operator’s license and state of sobriety.
Read the news release.

Smart Money magazine released it's lastest "most overvauled" housing cities. They looked at 152 markets (San Jose & SF in top 20).

Here are the most overvalued areas (guess which state dominates the list?)!...
1) Naples, FL
2) Miami, FL
3) Santa Barbara
4) Riverside-San Bernardino
5) Modesto
6) Salinas
7) Stockton
8) Los Angeles
9) Merced
10) Port St. Lucie-Fort Pierce, FL
11) San Jose
12) Sarasota-Venice, FL
13) San Diego
14) Fresno
15) Vallejo-Fairfield
16) Ventura
17) Fort Myers, FL
18) San Francisco
19) Vero Beach, FL
20) Atlantic City, NJ

13 of the Top-20 are in California! WOW!

Read the article here

Event not to miss! All are invited...this Sunday in Los Gatos

Art, Jewels, Music, Luxury Cars & Architecture Event this Sunday, November 12th, 2006 from 4:00 - 8:00 PM held at my fantastic $10M home for sale, formerly owned by Steve Wozniak, co-founder of apple computer. Come see this stunning home with the authentic caves and magnificent setting. To see this gorgeous home, please visit: www.legendaryestate.com.
This event hosted by ASANTE Luxury Homes and RELAX magazine features original art, jewels, wine & hors d’ oeuvres and luxury cars - all set in a beautiful home transformed into a work of art. The address is: 300 Santa Rosa, Los Gatos 95032. We hope you can make it!
Original contemporary paintings and sculptures will be displayed throughout the interior and exterior of the home, provided by artists from the Linda Durnell Gallery. There will also be an exquisite jewelry showcase provided by Deja & Co Jewelers, along with renowned jewelry designer, Peter Storm. These jewels are GORGEOUS! There will be two wine stations plus delicious food provided by Santana Row restaurants: Tanglewood, SINO and Straits. Also, Lamborghini, Ferrari and Bentley will feature their luxury cars in front of the home. Also, we have a wonderfull Jazz Band for music.
This fabulous event will be featured in the January/February 2007 issue of RELAX magazine. So, please come and enjoy yourself for an evening of Art, Wine, Food, Music, Jewels, Cars and Architecture!
Also, please feel free to forward this email to your friends.
Hope to see you on Sunday! No RSVP needed at this point.

Mark Thomason

Mark@ThomasonTeam.com

Sunnyvale Real Estate at the Town Center Mall continues to stand still!
The city of Sunnyvale edges a bit closer to moving on with the mall
Developer's failure to respond to ouster sparks closed meetings.

Complete story: Click Here

Steve Wozniak's (co-founder Apple Computers) previous home in Los Gatos now stands transformed into a Legendary Estate.
Builder and owner Larry Willard & Architect Avi Agasi have turned this Los Gatos home into a masterpiece of art. Keeping some of the Woz's old touches...Kids discovery area, a real cave in the backyard and the arcade room.

Now for sale and
offered at: $10 Million Dollars

Experience this estate at: www.LegendaryEstate.com

My team & I have this listing and would appreciate any feedback... mark@thomasonteam.com