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Daniel Shi's Blog

By Daniel Shi | Broker in Santa Clara County, CA
  • Real Estate Headlines 2012-7-27

    Posted Under: Market Conditions in Santa Clara County, Home Buying in Santa Clara County, Home Selling in Santa Clara County  |  July 27, 2012 9:18 AM  |  189 views  |  No comments
    http://sogorealty.com/sogo-doc/?lang=en&doccat=news&docname=RE-and-Mortgage-Headlines-Latest

    -- Pending home sales in California decline
    -- Home values rise for first time in 5 years
    -- Green-certified homes sell for 9 percent more
    -- Insurance deductibles soar
    -- Calif. homeowners see jump in property taxes

    and more...

    Daniel Shi
    dshi@sogorealty.com
    1.888.785.8818 ext.100
    http://SoGoRealty.com
  • 【Bay Area Homeowners, understanding other Prop 8】

    Posted Under: Market Conditions in Santa Clara County, Property Q&A in Santa Clara County, Home Ownership in Santa Clara County  |  July 23, 2012 11:12 AM  |  202 views  |  No comments
    【Bay Area Homeowners, understanding other Prop 8】: in a nutshell, if your property value ever fell below your original purchase price, and now your value is climbing back up again... your property tax hike rate can be more than 2% annually (limit by Prop 13) until it hits the purchase price threshold!

    http://www.mercurynews.com/bay-area-news/ci_21134921/homeowner-headache-understanding-other-proposition-8
  • Latest R.E. & Mortgage Headlines (2012-7-13)

    Posted Under: Market Conditions in Santa Clara County, Home Buying in Santa Clara County, Financing in Santa Clara County  |  July 19, 2012 9:15 AM  |  183 views  |  No comments
    Click here to read the latest headlines in Real Estate, and Home Financing:

    http://sogorealty.com/sogo-doc/?lang=en&doccat=news&docname=RE-and-Mortgage-Headlines-Latest 

    Daniel Shi
    dshi@sogorealty.com
    1.888.785.8818 ext.100
    http://SoGoRealty.com
  • API Reports for Bay Area Schools (2011-2012)

    Posted Under: Schools in Santa Clara County, Home Buying in Santa Clara County, In My Neighborhood in Santa Clara County  |  July 19, 2012 9:05 AM  |  359 views  |  No comments
    These reports cover schools in following counties: Santa Clara, San Mateo, Alameda, Santa Cruz, Monterey. Click here to view reports:

    http://sogorealty.com/sogo-doc/?lang=en&cntyselect=1&rptid=z4api3 

    Daniel Shi
    dshi@sogorealty.com
    1.888.785.8818 ext.100
    http://SoGoRealty.com
  • Latest Bay Area R.E. Market Report (July 2012)

    Posted Under: Market Conditions in Santa Clara County, Home Buying in Santa Clara County, Home Selling in Santa Clara County  |  July 12, 2012 9:51 AM  |  189 views  |  No comments
    Please see below for the latest R.E. Market Report for Bay Area; you can visualize the numbers, and get a feel of the market trend including: Median Sold Price, Asking Vs. Sold Prices, various Inventory Supply Vs. Demand Indices, Averages Days-On-Market, and more.

    http://sogorealty.com/market-report

    Broker Daniel's comment on current market:
    What ~ Median sold prices keep hiking, up 12% year-on-year, while average inventory keeps slipping, now down 54% year-on-year. After several months increasing number of "sold properties", this index is finally on the slide, down 12% compared to one month ago, mirroring my prediction in June that "short of inventory will cool down the further recovery of R.E. market". Bidding wars is still fierce, with average Days-on-Market on at 34 days, shrunk by half compared to just 6 months ago!
    Why ~ Not so promising economic data is creeping into real estate; however, the consumers that do have the cash (whether first-time-buyer or investors) desire good buys. Indeed why not? the interest rates keep playing historic lows. Wow! Never could believe my own eyes, just checked before wrting this comment, the national average is at 3.43% for 30-year fixed mortgage!

    As always, I am here to help you with all of your real estate needs or concerns. As your local real estate resource, I am only a phone call, text message, email, or mouse click away!
    Best regards,

    Daniel Shi
    dshi@sogorealty.com
    1.888.785.8818 ext.100
    http://SoGoRealty.com
  • Topics in Daniel's R.E. Newsletter (July 2012)

    Posted Under: Market Conditions in Santa Clara County, Home Buying in Santa Clara County, Financing in Santa Clara County  |  July 4, 2012 10:41 PM  |  176 views  |  No comments
    I'm pleased to present you my latest real estate newsletter <Silicon Valley Monthly>:
    http://www.clientdirect.net/news/?Pub=43812  

    Each month I highlight different topics that might be of interest to you. I hope you enjoy reading it, and I invite you to forward this email to any of your friends or relatives who may also be interested.

    This month's topics include:
    * Economists expect 2013 home price rebound
    * Five signs that it's a good time to sell
    * Consumer optimism may bump into housing market reality
    * Impulsive mortgage decisions cost borrowers
    * Eight things to know about buying a home today
    * Using rent payments to rebuild your credit
     

    As always, I am here to help you with all of your real estate needs or concerns. Even if you aren't yet ready to buy or sell, please consider me to be your local real estate resource. I am only a phone call, text message, email, or mouse click away!

    Daniel Shi
    dshi@sogorealty.com
    1.888.785.8818 ext.100
    http://SoGoRealty.com
  • Overview of foreclosing process explained to buyers

    Posted Under: Home Buying in Santa Clara County, Foreclosure in Santa Clara County, How To... in Santa Clara County  |  June 22, 2012 10:28 AM  |  233 views  |  No comments
    I noticed many buyers are confused and try to learn more about various stages and process of foreclosure. To summarize, here is an overview for the three stages of the foreclosing process: 

    1. Pre-foreclosure (Short Sale): when homeowners fail to make three monthly mortgages, a Notice-of-Default is filed by the mortgage lien-holder (the bank that loaned the money). At this stage, owners can work with the bank see if a short sale is possible with their proven hardship. Because most likely it's still owner-occupied, showings are often by appointment only. Some owners may not even cooperate, and you never get a chance to see it. So one option to buyer is to "Make offer contingent upon inspection." The short sale process is indeed very loooong! Depending on the hardship current owner is going through, their short sale filing needs to be agreed & approved by the bank, 60-90 days of wait is quite normal, so you just have to be patiently awaiting and hope the bank approve your offer price & terms. Even worse yet, if two banks are involved (i.e. first loan and secondary), they it could easily double the wait time, mainly because the property value is below what's owed on loan, sale proceeds may not even satisfy what first-lender wants, therefore secondary lender may get nothing; and they're just fighting to reach agreement what amount second lend shall get, which they might never reach that point!

    2. If the property fails to sell during short sale, then goes to public auction (or Sheriff's Sale) conducted at county court-house (usually announced ahead on local media such as SJ Mercury, Los Gatos Weekly, etc). If you win the highest bid, you must pay all cash as a buyer. 

    3. If still doesn't sell, then bank foreclose upon and takes over as REO (real estate owned), from this point on, it's very much like a regular sale: you don't have to wait for approval any more, if your offer gets accepted by bank's authorized asset management, you enter escrow and close just like a regular transaction. You can still have your inspection contingency, loan contingency, etc. And you can get pretty good deals this way. The major disadvantage to you as a buyer is: REO has very limited disclosure other than some basic geo-reports, because remember, bank just took over, they didn't know much about what happened on this property in past years, right? So hiring an experienced inspector is crucial, check it out top-down and inside-out!

    For any buyers out there who are interested in distressed properties (REO or Short Sale), you can do "Advanced" or one-click search on our website: http://SoGoRealty.com

    Feel free to contact me if I could be any help, Good Luck :)

    Daniel Shi
    dshi@sogorealty.com
    1.888.785.8818 ext.100
    http://SoGoRealty.com
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