Dale Warfel

Greetings!

Welcome to Dale Warfel’s August 2010 Newsletter.

Personal News:

This year has been speeding by at what seems like an incredible pace. We took an early summer vacation in May to visit Avila Beach for a week, staying at the beautiful San Luis Bay Inn. Our ocean view room was wonderful and very relaxing. The weather, unfortunately, wasn't very cooperative, with cold weather, fog and wind most of the week, finally warming up the day before we left. Though I was sick with a fever for a few of those days, we all managed to have a great time, especially on the beach, where Johnny seemed to want to live every day, no matter the weather!

Johnny finished up his Tiger Cub activities and has been promoted to Wolf Cub. Johnny also finished his second season as part of our Cabana Club Swim Team, with the championships taking place at the Santa Clara International Swim Center, with over 900 swimmers competing. It was my first time attending this event, and was quite a production.

Baby Nathan is now 10 months old, 23 lbs, and taking his first steps. It is so cute to watch him grow and see his personality develop. Johnny loves being a big brother, and wants to make sure Nathan is well taken care of.

Professional News:

I love short sales! I have been successfully negotiated over 90% of my short sale listings. If you know someone who is in distress, needs to sell their home, owes more than the home is worth, and wants to avoid foreclosure, please contact me with their name and number. I will ensure that they get the most up-to-date information so they understand their options, and will refer them to the appropriate tax and legal professionals to get professional advice regarding the implications of each of those options.

Do You Need A Referral?

If you need a referral for a qualified service provider, chances are that I have someone in my database that can help. From an acupuncturist to a solar solutions company, from a printer to a computer services company, I have an excellent list of resources. E-mail me at Dale@DaleWarfel.com and let me know how I can assist you.

Looking for a Home? (or What’s Happening in My Neighborhood?)

Are you looking for a private, secure place to search for real estate? Would you like to know what's happening in your neighborhood? My MLS Advisor Service provides up to date information on listing activity in your area or in any Bay Area region you choose. Search for active listings, properties in escrow, price reductions, and much more. Take a test drive!
Go to: www.DaleWarfel.com and click on the Search the MLS.

COMING SOON!
Santa Clara Single Family Home
1951 Santa Inez Ct., Santa Clara, CA 95051
3 Bedrooms / 2 Bathrooms / Approx 1637 Sq. Ft.

Have you ever walked into a home and it just kept getting better and better? This is one of those homes! This home is essentially a ground up rebuild, with the exception of the garage. A spacious living room off the main entry is perfect for entertaining. The kitchen is incredible, with gorgeous cabinets and blue granite slab counters, including a huge solid slab of granite for an oversized island and breakfast bar. The adjacent family room completes the main living area, featuring built in surround sound. The bathrooms are absolutely stunning with exceptional tile work, cabinetry, and granite counters. The roof is brand new, wiring and plumbing is new, the electrical panel has been updated, and much, much more. This home should be on the market the week of August 9.

This property will be listed at $745,000.

COMING SOON!
Downtown San Jose Condominium
75 Hobson St., Apt 6B, San Jose, CA 95112
2 Bedrooms / 2 Bathrooms / Approx 1030 Sq. Ft.

This upstairs 2 bedroom, 2 bath condominium is a commuters dream, close to downtown San Jose and Hwy 87, yet on the quiet side of the complex. This unit is the largest floor plan in the development, and is one of only a handful with central air conditioning. This home is perfect for first time homebuyers, and is priced to sell. This home is scheduled to be on the market the week of August 9.

This property will be listed at $260,000.

BACK ON THE MARKET!
Cute Single Family Milpitas Home
521 Printy Ave., Milpitas
2 Bedrooms / 1 Bathrooms / Approx. 891 Sq. Ft.

Who do you know that would like to be able to afford a single family home in Milpitas for under $400K. This cute property features 2 bedrooms and 1 bath, newer kitchen linoleum, hardwood floors in the living room, hall, and both bedrooms. The home is situated on a generous lot, offering plenty of room to expand this home or create a beautiful outdoor living space.

Go to http://dalewarfel.com/ for more details.
This home is listed at $370,000.

PENDING SALE!
Santa Clara Townhome Near Rivermark and Great America
2216 Saint Claire Ct., Santa Clara, 95054
3 Bedrooms / 2.5 Bathrooms / Approx 1,528 Sq. Ft.

This spacious 3 bedroom, 2.5 bath townhome is located in a wonderful neighborhood near Rivermark in Santa Clara. The open floor plan and remodeled kitchen are perfect for entertaining. 3 generous upstairs bedrooms offer plenty of room for family and guests living space. This lovely home features a kitchen has been tastefully updated, dual pane windows, central heating and air conditioning, corner wood burning fireplace, and central vacuum.

Go to http://dalewarfel.com/ for more details.
This property is listed at $436,500.

PENDING SALE!
Remodeled South San Jose Home with Master Bedroom Addition
5231 Roeder Road, San Jose
3 Bed/2 Baths / Approx. 1,787 Sq. Ft.

Nicely remodeled/expanded 3 Bed/2 Bath home is conveniently located with excellent access to Hwy 101, 87, 85, Monterey Hwy, Cal Train, and Light Rail. This home is perfect for 1st time homebuyers, and offers many features including an updated kitchen, living room w/fireplace, separate family room with built-in entertainment center, huge master bedroom with dual walk-in closets, vaulted ceilings, and plenty of natural light.

Go to http://dalewarfel.com/ for more details.
This property is listed at $348,500.

PENDING SALE – SHORT SALE APPROVED!
Santa Teresa Home in Great Neighborhood
6129 San Buena Ct., San Jose, 95119
5 Bedroom / 2.5 Bathrooms / Approx. 2,337 Sq. Ft.

Enjoy all that Rancho Santa Teresa has to offer in this spacious 5 bedroom 2.5 bath home, located in the Rancho Santa Teresa Swim & Racquet Club community. The open floor plan is perfect for entertaining. The spacious living room features a grand fireplace with marble surround and recessed lighting. The dining room offers gleaming hardwood floors and a view if the private back yard. The large kitchen offers plenty of cabinet and counter space. Upstairs, the spacious master bedroom suite features dual closets and a large vanity, with room for 2 sinks. The other 4 bedrooms are spacious as well. Don't miss this chance to own a nice home in a great community.

Go to http://dalewarfel.com/ for more details.
This home is listed for $540,000.

SOLD!
1691 Alder Creek Court, San Jose
4 Bedrooms / 2.5 Bathrooms / Approx. 1780 Sq. Ft.

You are sure to absolutely love this gorgeous 4 Bed, 2 1/2 Bath End Unit Townhouse as the base of the East Foothills. Many, many upgrades at a fantastic price make this huge 1,780 sq. ft. home an exceptional value. There are too many updates to mention, including kitchen cabinets, recessed lighting, beautiful time floors, laminate flooring in the living rooms, 2 patios and 2 decks, central air conditioning, and much more.

SOLD!
4 Years New Penthouse Condo in Rivermark (Santa Clara)
3901 Lick Mill Blvd., Unit 443
1 Bedrooms / 1 Bathrooms / Approx. 908 Sq. Ft.

Gorgeous Penthouse Unit with soaring Cathedral Ceilings in Living Room. This spacious 1 bed/1 bath unit is like new. The sellers added a double door entry to the dining room, so it could also be used as an private office or 2nd bedroom. Enjoy the living room fireplace, functional kitchen with a gas range, granite counters and stainless appliances, west facing deck, and panoramic views! This beautiful home is located in the Miraval community, which offers many amenities including a pool and spa, workout room, theater, and more! Priced to sell, this unit won't last.

Thank You:

Thank you to Andre G., Rafael D., Sirivanh H., Paula C., Chris P., Tim D., for your referrals.

Market Update

Many Silicon Valley homes in the mid range (which I consider $850K - $1.1M) are selling with multiple offers and often going over asking. Three bedroom homes are flying off the shelves, as long as they are in good condition and in the right location.

In cities with the best schools, such as Cupertino, Mountain View, Palo Alto, and Sunnyvale, properly-priced and well-maintained homes are still receiving multiple offers and the sales price to list price ratio in all those cities is over 100%. Investors are buying in the low-end of the market, hoping to buy and flip. That has been somewhat problematic as, when they go to flip, their original purchase price is probably part of the appraisal, which lowers the market value of the property. It is better for investors to buy and rent it out for a year rather than trying to flip immediately.

The problem with prices in this segment of the market is the poor condition of REO properties that have been stripped by the former owners, and short sales with sellers who are no longer doing any maintenance. These sales are skewing the prices on similar properties.

First-time buyers continue to be edged out by investors for REO properties because the investors are coming in with all cash offers.

First-time buyers should concentrate on well-kept homes in good neighborhoods rather than trying to get a steal. Doing that will lower your frustration level.

The high-end market, above $1.2 million, is probably the weakest segment. Homes here are languishing on the market. With interest rates at 50-year lows, now is an excellent time to buy a home, particularly if you plan on staying there for a while.

Inflation is coming, make no mistake about that. It's not a matter of if, but when. In the future, you will look back on this period as a golden time to buy real estate and lock-in a 30-year fixed rate mortgage. Whether or not you look back and smile will depend upon whether you buy or not.

Remember, the real estate market is a matter of neighborhoods and houses. No two are the same. For complete information on a particular neighborhood or property, call me.