The Top Ten Reasons It’s a Great Time To Buy Real Estate!

by Paul Pastore

 Selection, selection, selection. There are about 57,000 resale homes on the market in Maricopa county(Phoenix). Regardless of the price range a buyer desires, there are plenty of houses from which to choose. Just a few years ago the resale inventory dropped below 5,000 units. A buyer was forced to make compromises if they were going to locate the home of their dreams. There is a great selection of attached homes, condos, and townhouses. You can find large lots, small lots, and a lot that will accommodate your boat or RV. There are lots of options in this market.
No Bidding Wars (in most areas!). In 2005 we had one client that made an offer on ten homes. They lost the first nine to the ‘feeding frenzy’ that existed. Other buyers bid the properties up substantially from the original listing price. There were escalation clauses where buyers authorized their agents to outbid other offers by thousands of dollars. There is no competitive bidding in this buyer’s market.

You can make an offer. A few years ago when you made an offer, the only question was how high above the list price could the buyer reach in hopes of being the best offer on the table. Today the sell price list vs. price ration is about 96%. A seller will not be insulted if you ‘make them an offer they can’t refuse’.

Patience is tolerated. In the hot seller’s market that existed everything was rushed. Find a house before other buyers did. Hurry up and make the offer.  Today a buyer can take their time. Look at several homes and think about your decision for a few hours.
Due diligence is welcomed. In this market a buyer is encouraged to obtain a home inspection, termite inspection, and appraisal. In 2005 many buyers waived these contingencies in order gain an advantage with multiple offers.

There are plenty of specs. In the not too distant past buyer had to ‘play games’ if they wanted a new home. There were lotteries and waiting lists in order to obtain new construction. Some buyers slept in their cars in order to get to the head of the lines. R.L. Brown estimates that builders have thousands of specs ready for immediate occupancy.
Repair requests are welcomed. After a buyer completes a home inspection, they are allowed to submit a repair request to the seller. In the past a seller might insist the home was sold ‘as is’. Many times, there were back-up buyers waiting for a primary buyer to upset the seller whose home was increasing in value almost daily.
Few, if any investors. It is estimated that one third of all sales in 2005 were to investors. These non-owner occupied buyer caused the market to inflate and affordability to decline. Mortgage fraud became commonplace.

Popularity: 75% [?]

What you need to know before you decide to enter a lease-to-own agreement. If youʼre a cash-challenged home buyer, a lease-to-own agreement may be a way to buy a home and accumulate a down payment. A lease-option also gives you a chance to check out the neighborhood and occupy the home before you decide whether you want to buy it. What is a lease-to-own or lease-option agreement? A lease-option agreement is both a lease that allows you to occupy the home and an option that allows you to purchase the home in the future at an agreed-upon price. A typical lease-option agreement requires you to pay a somewhat higher monthly rent for the home and obligates the owner to credit a portion of that rent toward your down payment. For example, if the ownerʼs expected market rent were $1,500 per month, he or she might increase that to $1,800 per month and apply $300 per month to your down payment. After one year, you would have a down payment credit of $3,600. A formal contract is a must A lease-option agreement should be formalized in a written contract that specifies the monthly rent, the amount of rent that will be credited to the down payment, the sales price and the expiration date of the option. Any contingencies (e.g., your right to obtain a home inspection) or other important terms of the agreement should be stated in the contract as well. A lease-option allows the owner to sell the home to you without paying a commission to a real estate broker. But keep in mind that the transaction is thus bereft of a brokerʼs advice, expertise and assistance. Payment of other closing costs such as title insurance and transfer fees is subject to negotiation and should be addressed in either the lease-option contract or a later addendum to that contract. Lease-option isnʼt an obligation to buy, A lease-option doesnʼt obligate you to purchase the home; rather, it is simply an opportunity to do so with the advantages of a known purchase price and a rent credit toward the down payment. If you elect not to exercise the option to purchase the home, your credited rent usually is forfeited to the owner. This money is a form of compensation to the owner for the option, which compromises his or her freedom to sell the property to someone else during that time. Reasons why you might decide not to exercise an option include lower property values in the area, an inability to obtain a mortgage, a job transfer or disenchantment with the neighborhood or the home, among others. Who pays taxes, insurance, repairs? The owner is responsible for property taxes, insurance, and repairs and maintenance of the property during the lease-option term since you have no ownership interest in the property. Likewise, the owner, not you, would suffer a loss if the property were damaged or destroyed by a natural disaster that occurred during your lease-option term. Nonetheless, you may want to purchase separate renterʼs insurance to cover your own personal belongings. Of course, once you purchase the property at the end of the lease-option term, youʼll be responsible for the taxes, insurance, and repairs related to the home.

http://www.realtoramir.com/

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The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Popularity: 90% [?]

All of the Realtors in the five countis have been using ReInfolink Multiple Listing Service. There have been some major and new developments for the former RE InfoLink/CVMLS.  After the acquisition by NCREX in September, the board announced a new company name:  MLSListings Inc., in recognition of one of the company’s key assets, MLSListings.com. And today (November 14, 2007), you will note that REIL.com has been re-named to reflect this overall company branding:  MLSListings Professional Edition, or MLSListings Pro, for short.  The functionality of the former REIL.com remains exactly the same.  Only the logo and colors have changed.

The new MLSListingsPro covers the following counties:

• San Mateo

• Santa Cruz

• Santa Clara

• San Benito

• Monterey

• Merced

• Stanislaus

• San Joaquin

Very soon these other counties will be part of MLSListingsPro:

• San Francisco

• Marin

• Sonoma

• Napa

• Solano

• Contra Costa

• Alameda

• Calaveras

• Mendocino

Now as Realtors we can access the MLS information for more counties than before.

Working together for the good of the real estate professionals in Northern California, two key MLS’s–RE InfoLink and Central Valley MLS–have merged to form MLSListings, formerly the Northern California Real Estate Exchange (NCREX).   MLSListings is changing the face of the MLS industry.  With the cooperation of several Northern California MLS’s,  MLSListings has built a RETS-compliant data repository of aggregated listing information based on a single set of rules with a single data format. Although data sharing has proved beneficial to the marketplace over the years, database consolidation undoubtedly provides the greatest benefit to the marketplace.
 

http://www.realtoramir.com/

For instant MLS search click here. 

For an automated MLS search click here. 

The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Popularity: 90% [?]

HLC Housing e-Agenda is a very useful newsletter from Housing Leadership Council of San Mateo County.
The Housing e-Agenda is the email newsletter from the Housing Leadership Council of San Mateo County (HLC). We send this on an occasional basis as a way to keep members and supporters informed about housing issues. Please add grichane@hlcsmc.org to your spam filter so you continue to receive these updates.

CONTENTS
Housing Leadership Day Wrap up
Upcoming Events
Volunteer

Housing Leadership Day 2007Building Great Communities for the 21st Century

Upcoming EventsVolunteer With HLC
HLC is engaged in an ongoing effort to gather and publish key information about housing-related policies, ordinances, and project sites. With this information, we’ll be able to create a comprehensive picture of how we’re doing on housing in San Mateo County, and find out where we need to improve. This effort is a critical step in resolving our local housing shortage, but we can’t make make it work without volunteer assistance. HLC needs volunteers to help us collect and organize this information, which will be published on our web site, www.hlcsmc.org. If you’d like to help collect information, please contact HLC Program Organizer Greg Richane for more details.

Join HLC and Support Housing at All Affordability LevelsHLC depends on the participation and support of its members to advance our housing agenda. We now have over 100 organizational and 70 individual members. If you’re a member and haven’t already done so, please renew your membership now. If you’re not a member yet, please consider becoming one in 2007. You can also give online through our web site if you’d like to invest in our mission to accelerate production of new homes at all affordability levels to create opportunities and a viable quality of life. Join HLC today!

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Housing Leadership Council of San Mateo County
T: 650-872-4444
F: 650-872-4411
http://www.hlcsmc.org
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Our postal address is
139 Mitchell Ave
Suite 108
South San Francisco, California 94080
United States

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For instant MLS search click here. 

For an automated MLS search click here. 

The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Popularity: 89% [?]

9 TIPS FOR A BETTER HOME INSPECTION REPORT
With a tighter Real Estate market, below are some cheap and fairly easy items to check and repair before a home inspector or pest inspector shows up to inspect your home.

These are typical items that show up on reports. By checking these items, you can have a cleaner inspection on your home. Most of these items you can do yourself.

1. Seismic Strap Water Heater

Kits can be bought at any hardware store for about $15.00. It is required by the seller to install the straps before the close of escrow. The straps are usually pretty easy to install but can require the water heater to be removed and then the straps installed. The kits come with directions for correct installation.

2. Smoke Detectors

Make sure all smoke detectors are working. Smoke detectors should be installed within 15 feet of all bedrooms and there should be at least one on all levels of the home. Newer construction requires smoke alarms in the sleeping areas also. To make sure this item doesn’t show up on an inspection, install smoke alarms outside and inside bedrooms and on all levels of the home no matter what the age of the home.

3. Loose Toilet

This is an item that shows up on most inspections. Stand in front of the toilet and put slight pressure on the front right side of the toilet and then the front left. If the toilet is loose you may be able to tighten the bolts. Don’t over tighten, as it can be easy to crack the toilet. It is also possible that the toilet will need to be pulled up and wax seal replaced. You may want to hire a Plumber or Handyman to repair this item.

4. Lower Soil from Wood Siding at Least 6 Inches

Soil should be lowered from the wood siding or stucco weep screed at least 6 inches. When untreated wood and earth are very close there is increased risk of wood damage from moisture and or wood boring insects. Remove the excess soil, but in such a fashion as to not cause water to stand against the foundation. Water should always drain away at least 3 feet from the home.

5. Cut Back Shrubbery or Remove Clinging Vines from the Side of the Home

Any plant growing on a home may eventually damage the siding and other parts of the home. Clinging vines can also create an environment for insects and other pests and may hold moisture against the home. Also the inspectors may not be able to inspect the entire exterior of the home due to limited access.

6. Clean Debris from the Roof and Gutters

Excessive debris on the roof and in the gutters can limit the Visual Inspection. Typically the home inspector will recommend further inspection of the roof. It is best to use a blower to clean the debris off of the roof. Brooms or rakes can damage the roof shingles or granules. Use extreme care when on the roof. Roofs can be slippery. If you are hesitant about walking on the roof, hire someone to do the work for you.

7. Remove Debris under the Home

Most houses have some scrap wood or debris under the home. This is always called out on a home inspection and termite report. We recommend that all debris be removed to a rake able size. While under the home, be sure to check for leaks on water and drain lines. Also check for separated heating ducts (if present) and or any other damage.

8. GFCI Ground Fault Circuit Interrupt

In the late 1990s GFCI type receptacles were required in all wet area. This includes within 72 inches from sinks and exterior outlets including in garages. Although these receptacles may not have been required when the home was built it will show up on the Home Inspection Report as a recommended upgrade. These receptacles generally cost about $20 each. You may want to hire an electrician or handyman to install the receptacles.

9. Excessive Storage

It is not uncommon to find a garage or room full of storage. Because the Inspectors cannot see all areas of the room or garage (walls floors etc.). Be sure locks are off all electrical panels or sub-area doors and that all sub-area and attic access doors are accessible. We will recommend a re-inspection if not. This can cost the seller of the home extra money to have the inspectors come back.

Clive Belvoir
Home Inspector
Country Home Inspection
831-338-6269 or 408-267-6269
clivebelvoir@yahoo.com

http://www.realtoramir.com/

For instant MLS search click here. 

For an automated MLS search click here. 

The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Popularity: 28% [?]

Dealing with Seller Financing in a 1031 Exchange…

Investors who decide to carry a  note on the sale of their investment property have a few options  if they are also doing a 1031 Exchange.

1. Do not include the note in the exchange. If the note is not included in the exchange, taxes will be payable using the installment method of accounting.
2. Include the note in the exchange and defer taxes owed.

With option #2, investors have several alternatives for attempting to use the note as part of the exchange. It is important that Asset Exchange Company be named as the beneficiary of the note in order to avoid any constructive receipt issues.  The alternatives available include:

1. Use the note as consideration for the replacement property.
2. Replace the note with cash.

•     “Buy” the note with your own cash
•      Sell the note on the secondary market
•     Have the note paid off prior to close of escrow

Seller financing can be an attractive option in today’s market.

http://www.realtoramir.com/

For instant MLS search click here. 

For an automated MLS search click here. 

The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Popularity: 60% [?]

10170 East Estates Drive, Cupertino Real Estate, California

Popularity: 20% [?]

The single family home1165 FAIRFORD WY, San Jose 95129 just closed escrow for $ 1,164,000. This represents a 6.9% increase over the asking price. This neighborhood is one of the most popular neighborhoods in Cupertino Real Estate market. Even though the address is San Jose, the public schools for this home are:

Elem: Nelson S. Dilworth Elementary/ Cupertino Union School
Middle: Joaquin Miller Middle
High: Lynbrook High / Fremont Union High
 

Sale Prices
Minimum: $650,000.00 
Average: $1,231,409.00 
Median: $1,150,000.00 
Maximum:  $2,860,000.00  

List Prices  
Minimum: $3,000.00 
Average: $1,301,001.00 
Median: $1,198,888.00 
Maximum: $4,995,000.00 

The most recent 100 Single Family home transactions in West San Jose and Cupertino Real Estate market are as follow:

Status  Street Address  Orig List Price  Sale Price  Beds  Baths  Bldg SqFt  Lot Size  Age CDOM City 
                   
5-Sold , 1165 FAIRFORD WY , $1,090,000 => $1,164,000 ( 3 , 2 ) 1811 , 5663   6 San Jose  Real Estate
1-Active , 10201 AMELIA CT , $1,175,000 =>  ( 3 , 1 1/2 ) 1481 , 10890  60 6 Cupertino  Real Estate
5-Sold , 18745 LOREE AV , $775,000 => $710,000 ( 3 , 2 ) 1278 , 5227   68 Cupertino  Real Estate
1-Active , 10370 STERN AV , $1,450,000 =>  ( 4 , 3 1/2 ) 2457 , 5568   142 Cupertino  Real Estate
5-Sold , 7564 SHADOWHILL LN , $998,000 => $1,035,000 ( 3 , 2 ) 1190 , 5662   12 Cupertino  Real Estate
1-Active , 11518 MURANO CI , $1,249,000 =>  ( 3 , 2 1/2 ) 1788 , 1308   34 Cupertino  Real Estate
1-Active , 7548 BOLLINGER RD , $1,098,888 =>  ( 4 , 2 1/2 ) 1412 , 6500   31 Cupertino  Real Estate
1-Active , 1195 MILLER AV , $1,059,999 =>  ( 3 , 2 ) 1601 , 5662   28 San Jose  Real Estate
1-Active , 5080 ENGLEWOOD DR , $945,000 =>  ( 4 , 2 ) 1585 , 5662  48 23 San Jose  Real Estate
1-Active , 1467 TARTARIAN WY , $1,675,000 =>  ( 5 , 3 ) 3277 , 6000  22 20 San Jose  Real Estate
1-Active , 10540 WUNDERLICH DR , $788,000 =>  ( 3 , 1 ) 1006 , 6098  54 13 Cupertino  Real Estate
1-Active , 22560 KINST CT , $896,500 =>  ( 3 , 2 1/2 ) 1655 , 1742  19 9 Cupertino  Real Estate
3-PendingWithoutRelease , 21897 SHATTUCK DR , $1,350,000 =>  ( 4 , 3 ) 2119 , 7405  39 8 Cupertino  Real Estate
1-Active , 7635 ORANGE BLOSSOM DR , $1,626,000 =>  ( 4 , 3 ) 2257 , 6000  0 3 Cupertino  Real Estate
1-Active , 6072 RAINBOW DR , $1,049,000 =>  ( 4 , 2 ) 1607 , 6500  43 2 San Jose  Real Estate
1-Active , 20725 ACADIA CT , $1,298,000 =>  ( 3 , 2 ) 1845 , 7405  28 3 Cupertino  Real Estate
1-Active , 1590 DEERFIELD DR , $1,060,000 =>  ( 4 , 2 1/2 ) 1479 , 5662  45 1 San Jose  Real Estate
1-Active , 519 WAGMAN DR , $938,000 =>  ( 4 , 2 ) 1655 , 5662  42 1 San Jose  Real Estate
1-Active , 6832 DARTMOOR WY , $969,950 =>  ( 3 , 2 ) 1300 , 5662  49 1 San Jose  Real Estate
1-Active , 1053 JACQUELINE WY , $1,599,999 =>  ( 4 , 3 1/2 ) 2500 , 6969  51 20 San Jose  Real Estate
5-Sold , 1174 ELMSFORD DR , $1,348,888 => $1,248,980 ( 4 , 2 1/2 ) 2086 , 5662   30 Cupertino  Real Estate
1-Active , 21988 MCCLELLAN RD , $2,528,000 =>  ( 4 , 2 ) 916 , 22641   44 Cupertino  Real Estate
1-Active , 5621 ORA ST , $1,399,000 =>  ( 5 , 2 1/2 ) 2156 , 6098   45 San Jose  Real Estate
1-Active , 1282 POPPY WY , $1,998,000 =>  ( 4 , 3 1/2 ) 3012 , 7405  2 22 Cupertino  Real Estate
1-Active , 20730 DUNBAR DR , $1,688,000 =>  ( 5 , 4+ ) 3141 , 9125  13 49 Cupertino  Real Estate
4-PendingDoNotShow , 20960 GARDEN GATE DR , $2,048,000 =>  ( 5 , 4+ ) 3659 , 9291  0 13 Cupertino  Real Estate
1-Active , 4732 CASTLEWOOD DR , $886,000 =>  ( 3 , 2 ) 1456 , 5662  46 13 San Jose  Real Estate
1-Active , 7895 FIESTA LN , $1,288,000 =>  ( 3 , 4+ ) 2017 , 5662  47 10 Cupertino  Real Estate
1-Active , 10700 MERRIMAN RD , $1,999,000 =>  ( 6+ , 4+ ) 2765 , 10890  38 7 Cupertino  Real Estate
1-Active , 20925 JOLLYMAN LN , $1,898,000 =>  ( 5 , 3 1/2 ) 2873 , 7370  0 6 Cupertino  Real Estate
1-Active , 15681 MONTEBELLO RD , $3,700,000 =>  ( 4 , 4+ ) 0 , 2357902   168 Cupertino  Real Estate
1-Active , 20338 VIA PORTOFINO , $1,298,000 =>  ( 5 , 3 ) 2356 , 4791  11 58 Cupertino  Real Estate
3-PendingWithoutRelease , 10237 PRADO VISTA AV , $1,212,000 =>  ( 3 , 1 ) 1080 , 11761   7 Cupertino  Real Estate
4-PendingDoNotShow , 4580 CATALINA DR , $839,000 =>  ( 3 , 2 ) 1452 , 6534  50 7 San Jose  Real Estate
1-Active , 21885 OAKVIEW LN , $1,078,000 =>  ( 3 , 2 ) 1100 , 10625  52 9 Cupertino  Real Estate
1-Active , 1104 HYDE AV , $1,190,000 =>  ( 4 , 2 ) 1721 , 6969  41 22 San Jose  Real Estate
1-Active , 799 BROADMOOR DR , $829,000 =>  ( 3 , 2 ) 1147 , 7700  52 6 San Jose  Real Estate
4-PendingDoNotShow , 21912 ALMADEN AV , $1,360,000 =>  ( 3 , 2 ) 1746 , 4792   100 Cupertino  Real Estate
4-PendingDoNotShow , 10525 METEOR PL , $1,250,000 =>  ( 3 , 2 ) 1852 , 8276   19 Cupertino  Real Estate
1-Active , 10210 JOHNSON AV , $1,249,888 =>  ( 3 , 3 ) 2293 , 5100  0 23 Cupertino  Real Estate
1-Active , 1121 DANBURY DR , $1,075,000 =>  ( 6+ , 3 ) 1792 , 6534   33 San Jose  Real Estate
4-PendingDoNotShow , 1598 PROVINCETOWN DR , $1,188,000 =>  ( 4 , 2 1/2 ) 2297 , 6534  46 10 San Jose  Real Estate
1-Active , 22366 AINSWORTH DR , $1,300,000 =>  ( 3 , 2 ) 1451 , 10018  52 9 Cupertino  Real Estate
5-Sold , 10197 FINCH AV , $998,000 => $999,000 ( 3 , 2 ) 1691 , 11761   31 Cupertino  Real Estate
4-PendingDoNotShow , 10405 MORETTI DR , $769,900 =>  ( 3 , 1 ) 1342 , 5568  55 123 Cupertino  Real Estate
4-PendingDoNotShow , 7486 BOLLINGER RD , $998,000 =>  ( 4 , 2 ) 1306 , 5662   8 Cupertino  Real Estate
4-PendingDoNotShow , 1024 LANCER DR , $1,598,000 =>  ( 5 , 4+ ) 2810 , 6300   31 San Jose  Real Estate
5-Sold , 1109 HUNTERSTON PL , $1,088,000 => $1,068,000 ( 3 , 2 ) 1688 , 6098   9 Cupertino  Real Estate
5-Sold , 10273 NORWICH AV , $998,000 => $1,125,000 ( 3 , 2 ) 1550 , 7405   9 Cupertino  Real Estate
1-Active , 10276 ORANGE AV , $1,880,000 =>  ( 4 , 3 1/2 ) 2500 , 6250  0 21 Cupertino  Real Estate
4-PendingDoNotShow , 11101 CHADWICK PL , $1,498,000 =>  ( 4 , 3 ) 2119 , 7405  41 12 Cupertino  Real Estate
1-Active , 20915 JOLLYMAN LN , $1,898,000 =>  ( 5 , 3 1/2 ) 2882 , 7370  0 6 Cupertino  Real Estate
1-Active , 20905 JOLLYMAN LN , $1,898,000 =>  ( 5 , 3 1/2 ) 2873 , 7522  0 6 Cupertino  Real Estate
1-Active , 18868 HUNTER WY , $799,000 =>  ( 3 , 2 ) 932 , 5227   76 Cupertino  Real Estate
4-PendingDoNotShow , 877 LILY AV , $1,482,780 =>  ( 4 , 3 ) 2416 , 10018   58 Cupertino  Real Estate
1-Active , 10336 S STELLING RD , $1,875,800 =>  ( 6+ , 4+ ) 3559 , 11326  9 57 Cupertino  Real Estate
3-PendingWithoutRelease , 4454 VENICE WY , $849,999 =>  ( 3 , 2 ) 1404 , 6534   36 San Jose  Real Estate
3-PendingWithoutRelease , 10475 BEARDON DR , $1,049,000 =>  ( 3 , 1 ) 1008 , 9583  56 16 Cupertino  Real Estate
1-Active , 859 FERNGROVE DR , $829,000 =>  ( 4 , 2 ) 1432 , 6098  47 13 Cupertino  Real Estate
1-Active , 10605 GASCOIGNE DR , $729,000 =>  ( 3 , 1 ) 1048 , 5512   69 Cupertino  Real Estate
5-Sold , 5131 COUNTRY LN , $699,950 => $730,000 ( 3 , 2 ) 1383 , 6098   9 San Jose  Real Estate
5-Sold , 19717 AMHERST DR , $998,000 => $1,060,000 ( 3 , 2 ) 1550 , 6969   9 Cupertino  Real Estate
1-Active , 10376 MENHART LN , $788,000 =>  ( 3 , 2 ) 1078 , 5227   215 Cupertino  Real Estate
1-Active , 10230 YOSHINO PL , $899,900 =>  ( 3 , 2 ) 1688 , 3049  31 23 Cupertino  Real Estate
1-Active , 10066 JUDY AV , $1,880,000 =>  ( 5 , 4+ ) 3588 , 9147   68 Cupertino  Real Estate
5-Sold , 1048 CORVETTE DR , $938,000 => $971,000 ( 3 , 2 ) 1133 , 6098   13 San Jose  Real Estate
1-Active , 855 SARATOGA AV , $895,000 =>  ( 3 , 2 ) 1107 , 7840   29 San Jose  Real Estate
4-PendingDoNotShow , 898 E ESTATES DR , $775,000 =>  ( 3 , 2 ) 1080 , 7405  49 13 Cupertino  Real Estate
1-Active , 10361 MENHART LN , $749,000 =>  ( 2 , 1 ) 814 , 5000  55 21 Cupertino  Real Estate
1-Active , 18781 ARATA WY , $755,000 =>  ( 3 , 3 ) 1430 , 4791  55 20 Cupertino  Real Estate
1-Active , 10370 CALVERT DR , $799,888 =>  ( 3 , 2 ) 1078 , 5586  55 14 Cupertino  Real Estate
1-Active , 10685 STEVENS CANYON RD , $124,900 =>  ( 3 , 2 ) 1650 , 12343  87 10 Cupertino  Real Estate
5-Sold , 10670 LARRY WY , $1,700,000 => $1,650,000 ( 6+ , 4+ ) 3200 , 9147   15 Cupertino  Real Estate
3-PendingWithoutRelease , 6559 CLIFFORD DR , $968,000 =>  ( 4 , 2 ) 1515 , 5662  49 11 Cupertino  Real Estate
4-PendingDoNotShow , 10228 COLD HARBOR AV , $1,249,000 =>  ( 4 , 2 ) 2002 , 7405  39 12 Cupertino  Real Estate
1-Active , 10275 MORETTI DR , $865,000 =>  ( 3 , 2 1/2 ) 1651 , 5662  55 68 Cupertino  Real Estate
4-PendingDoNotShow , 814 BETLIN AV , $1,299,800 =>  ( 5 , 4+ ) 2350 , 6214   31 Cupertino  Real Estate
5-Sold , 10580 SAN LEANDRO AV , $2,250,000 => $2,070,000 ( 5 , 3 1/2 ) 3602 , 9600   1 Cupertino  Real Estate
5-Sold , 10380 STERN AV , $1,398,000 => $1,338,000 ( 4 , 3 ) 1950 , 5310   97 Cupertino  Real Estate
4-PendingDoNotShow , 810 ALDERBROOK LN , $974,950 =>  ( 3 , 2 ) 1201 , 5663   60 Cupertino  Real Estate
5-Sold , 10894 S BLANEY AV , $868,888 => $880,000 ( 3 , 2 ) 1176 , 8712   9 Cupertino  Real Estate
4-PendingDoNotShow , 1528 DANROMAS WY , $998,000 =>  ( 3 , 2 ) 1300 , 5663   49 San Jose  Real Estate
1-Active , 1405 GRAYWOOD DR , $1,670,888 =>  ( 4 , 3 ) 3346 , 5663   59 San Jose  Real Estate
5-Sold , 5194 RHONDA DR , $699,000 => $860,000 ( 3 , 2 ) 1608 , 8137   1 San Jose  Real Estate
1-Active , 10612 FLORA VISTA AV , $2,188,000 =>  ( 6+ , 4+ ) 3483 , 9625   50 Cupertino  Real Estate
4-PendingDoNotShow , 1384 JOHNSON AV , $1,050,000 =>  ( 3 , 2 ) 1247 , 6098   37 San Jose  Real Estate
3-PendingWithoutRelease , 10212 DUBON AV , $1,098,000 =>  ( 3 , 2 ) 1117 , 9148   7 Cupertino  Real Estate
1-Active , 15595 SWISS CREEK LN , $1,749,950 =>  ( 5 , 4+ ) 3641 , 435164   85 Cupertino  Real Estate
4-PendingDoNotShow , 10696 JOHANSEN DR , $788,000 =>  ( 3 , 2 ) 1247 , 5662   15 Cupertino  Real Estate
3-PendingWithoutRelease , 10511 BEARDON DR , $1,149,000 =>  ( 3 , 2 ) 1670 , 10018  56 9 Cupertino  Real Estate
4-PendingDoNotShow , 22245 CUPERTINO RD , $1,250,000 =>  ( 3 , 3 ) 1926 , 9583  32 8 Cupertino  Real Estate
1-Active , 1153 KENTWOOD AV , $1,299,998 =>  ( 4 , 2 ) 2247 , 5662  46 16 Cupertino  Real Estate
5-Sold , 1362 OAK KNOLL DR , $1,395,000 => $1,325,000 ( 4 , 3 ) 2330 , 10560   56 San Jose  Real Estate
5-Sold , 21543 TERRACE DR , $1,329,000 => $1,427,000 ( 3 , 2 ) 1766 , 8276   9 Cupertino  Real Estate
5-Sold , 1010 LANCER DR , $938,000 => $980,000 ( 3 , 2 ) 1133 , 6500   10 San Jose  Real Estate
5-Sold , 4738 ELMHURST DR , $739,000 => $745,000 ( 3 , 2 ) 1107 , 5662   6 San Jose  Real Estate
1-Active , 10642 N PORTAL AV , $1,688,000 =>  ( 3 , 2 ) 2985 , 14250   36 Cupertino  Real Estate
1-Active , 1672 DANROMAS WY , $1,197,000 =>  ( 4 , 2 1/2 ) 2021 , 6098  38 28 San Jose  Real Estate
5-Sold , 5263 LASSEN AV , $875,000 => $875,000 ( 3 , 2 ) 1544 , 5662   9 San Jose  Real Estate
5-Sold , 7582 KIRWIN LN , $1,189,950 => $1,265,000 ( 4 , 2 ) 1568 , 6534   9 Cupertino  Real Estate

Popularity: 50% [?]

Frequently Asked Questions - 1031 Exchange

Q: How long do I have to own a property before I can exchange it?

A: The longer the better. Unfortunately, there is no safe holding period for property to automatically qualify for an exchange. Keep in mind, the property only needs to be “held for investment or productive use in trade or business” for it to be eligible for an exchange. Time of ownership is only one factor the IRS looks at when determining if the property was “held for investment”. Some tax advisors recommend a minimum holding period of one year.

Q: Can I sell my duplex and purchase raw land?

A: Certainly. Properties involved in an exchange need to be “held for investment or productive use in trade or business”. Holding land for its future appreciation would be considered held for investment. Don’t get confused by the “like-kind” requirement. “Like-kind” can be any real property used for business or investment purposes within the U.S.

Q: Can I move into a rental property that was originally purchased as part of a 1031 Exchange?

A: Yes - but not right away. Keep in mind that the IRS will look at your “intent” in determining if your exchange is valid. If the IRS feels your original intent when the property was initially acquired was to use it as a primary residence, you may have your exchange disqualified. To play it safe, rent the property out for as long as possible before moving in.

Q: Do I have to reinvest ALL of my cash (equity)?

A: No. However, any cash (equity) that is not reinvested in real estate will be taxable (and is known as cash boot). The general rule of thumb if you don’t want to pay any taxes is to reinvest all of your cash and purchase a property equal or greater in value.

Q: How long do I have to complete my exchange?

A: 180 days. However, also keep in mind you will be required to identify your potential replacement properties on day 45 of your exchange. Your timeline starts when you close escrow on the property you are selling.

Q: Does my Realtor need to do anything special since I am exchanging?

A: Your Realtor should make sure the sales contract is assignable. Asset Exchange Company can provide the necessary language for the contract.

Q: How do I get my exchange started?

A: Call Asset Exchange Company at 877-471-1031 as soon as you’ve opened escrow. We’ll draft up an exchange agreement and coordinate with you and your escrow company to facilitate the exchange.

Q: What are their fees?

A: $499 for a standard one for one delayed exchange.

Q: Do you handle Reverse 1031 Exchanges?

A: Yes. Asset Exchange Company can accommodate Reverse 1031 Exchanges. We also handle multi-property exchanges, construction and improvement exchanges and reverse construction/improvement exchanges.

Q: Does your company have an Attorney or a CPA on staff?

A: Both. When you work with Asset Exchange Company, your transaction is handled from start to finish by an attorney and a CPA. You can consult with the attorney/CPA as much as necessary at no additional fee.

Q: What distinguishes Asset Exchange Company?

A: Hard work - and we like what we do. Asset Exchange Company wants to be the resource for all your 1031 Exchange needs. We work hard for our clients, we are responsive and we offer great rates.
  
 
 
 
 

Popularity: 31% [?]

10370 Calvert Driver, Cupertino, California is another one of the homes that are very suited for a tear down and rebuild. This is a common practice in Rancho Rinconada and in Cupertino Real Estate market in general. The house to the right of this home is rebuilt and across the street fromt his home the is a new property going on on a large piece of real estate.

Popularity: 58% [?]