Low down-payment mortgage options return

To be honest, in this hot market here in the Silicon Valley that is going on right now, with many homes receiving 3, 4, 5. . . 10+ offers, CASH IS KING! It is not impossible, but it is difficult getting an offer accepted when the buyer has a loan. For those of you who don't know, sellers typically like an offer from a buyer that is all cash. The reason for this is because 1) a cash offer can close sooner (I've seen cash deals closing in as little as 7 days as opposed to 25 or 30 days for loans), 2) cash deals generally speaking are less headaches (such as appraisal problems - which I won't get into right now).

Be that as it may, I have a buyer who put in an offer with a 10% down loan on great home by the way and his offer still got accepted! So it is possible.

Anyhow, below is a link to a great article from HousingWire about banks easing the restrictions on loans therefore allowing for home buyers who don't have much for a down payment.

Low down-payment mortgage options return

The "Golden Week" Is Here!

February 19th marks the Chinese new year - the year of the goat. Traditionally for a week or so after the new year marks the "golden week." It is a week where many buyers from China travel to foreign countries, typically the US, but now increasingly Europe for vacation and/or to buy properties. These buyers are affluent with allot of money burning a hole in the pocket. They're the type of buyers that I have worked with many times. They are attracted to the silicon valley due to the numerous good school district neighborhoods, property appreciation, and Cupertino in particular is a well known US city to many Chinese buyers. These buyers need an experienced agent like me who speaks the language, knows the market and is a savvy negotiator. 

Get set for “Fly ‘n Buy” Chinese – Golden Week is here!

U.S. Renters Still Dream of Homeownership | RISMedia's Home Update

I know this is an video from back in January, but I believe it is still relevant for renters.

One online real estate company eats another

One online real estate company eats another

Zillow's acquisition of Trulia is said to be completed today. The San Francisco based Zillow began the acquisition of Trulia sometime last year and the deal is finally complete. This is good for Zillow who will now have less competition and bad for consumers who will have less choice in where they can go if they are in the market for a home and are looking for a place for the latest homes for sale - of course if you are looking to buy a home in the Silicon Valley, I would recommend giving yours truly a call :-). Also, another bad thing to come out of this acquisition is that numerous Trulia employees are getting the pink slip.

Layoffs hit Trulia as Zillow acquisition set to close today

Good luck finding Class A office space in Sunnyvale

Good luck finding Class A office space in Sunnyvale

I've known for some time that office space is at a premium here in Cupertino where my office is due to Apple leasing up much of the available office space in the city, but I didn't know this is the case in nearby Sunnyvale. After all, residential real estate is more my specialty, but anyhow, according to the article from the Silicon Valley Business Journal, Blue Coat Systems just took a Class A office building off the market thus making market even tighter for tenants looking for office space.

Sunnyvale's office-space market gets tighter after Blue Coat's major lease

BART Expansion to San Jose Getting Some Help from Obama

President Obama was here in the Bay Area last week to talk cyber security, but interesting story that came out The San Jose Blog is about how as part of his proposed budget, $1 billion is earmarked for California transit, some of which will help with the new Bart expansion in the San Jose area.

BART Expansion to San Jose Getting Some Help from Obama

San Francisco 49ers star Aldon Smith selling San Jose mansion

San Francisco 49ers star Aldon Smith selling San Jose mansion

This is the bay area so naturally we have so Oakland Raider, San Francisco Giants and 49er players who live in the area, particularly the Silicon Valley. So it seems 49er linebacker Aldon Smith is selling his $2.9M estate in the San Jose foothills.

San Francisco 49ers star Aldon Smith selling San Jose mansion