Sam Shueh

Depending on the address, block by block, CC&R, needing lot apn. There are certainly more restrictive than
other cities. Garage has guide lines although it is not part of living space. Basement is normally excluded. Materials/labor varies significantly from builder to builder per architect plan. You need to talk to a CU architect.

People have built monster homes in that size of lot. Yes, the kitchen in the basement has a $4K refrigerator, and a $2K stainless steel hood. Yes, it may be a in-law quarter. Few people will be bought into buying a basement. If you decided to build a 2 story version with a basement, talk to a local realtor see how many monster homes have sold and how long it took to sell one. If you try to squeeze at lot into a 6K lot there may
be little room for a yard. People want yard. - Tue Nov 11 2008, 19:27

All Banks are FDIC backed. For example, Santa Clara Savings has been bought and sold 18 times since its inception. Bank of Morgan Hill became Bank of Italy and now it is Bank of America located a few doors away since 1900.

The options are as follows. But you need to work out all the numbers see what makes sense to you.

1. If you are retiring soon and don't have a lot of pension/income. You pay off.
2. If you have low balance left but many years to go, pay more each month,
3. If you need tax write off and have lots of equity, you take a line-of-equity(mostly no fees ) and use the money to buy a rental. Some homes are 45% off from what people paid for and are considered dirt cheap. You purchase same as 100% cash to get even a better price. The deductions are so lucrative that most income goes to your pocket. In the bay area the long term appreciation is there.

The options in other investment are few:
1. CD +3-4%
2. Stocks -15 to 25%
3. Mutual Funds -12 to 15%

Right now, I work with mostly investors who are jumping back on the RE investment. Contact me if you have questions. Sam Shueh
Century 21 Champion - Mon Oct 13 2008, 12:17

South Santa Clara County comes later than core Silicon Valley. If for example hot areas like Cupertino and Palo Alto are experiencing declining situations that is the end of a complete real estate cycle.

US government is predicting a bottom appreciation 3rd-4th quarter this year for West Coast and forcasting an upswing trend starting in 2009. Last week the mortgage interest drops 1% precipitating several clients on hold wanting to buy properties. People are cautiously buying and selling. Most buyers are focused on heavily discounted sales to take advantage of the price slick.

Are you hearing massive lay off in Silicon Valley? This is an area cushioned by very high income and highly educated residents. People wait for the price to drop will miss out the opportunities in this cycle.

If you want to read about history of "SOUTH SANTA CLARA COUNTY"-then and now, check out my new book available on line. Sam Shueh, realtor and author - Sat Sep 13 2008, 10:08

You can consider agent from out of the state. They provide just MLS, sign and may be a lockbox and
you do the showing, negotiation, and contracts. That costs may be as few as 300-400 dollars depending on the program you elect. When something is not going right you are on your own or get sued in some cases.

The advantage of full service agency is service, marketing. A honest agent typ. spends $1K or more in marketing, free virtual tours, give professional advises including staging (16% more vs non-staged), repairs, termite etc. They will show you the virtual visitor statistics and why or why your home is not getting the traffic. Best part is the legal and lawyer support when needed. A good agent will go to RE association handing out your home flyers, contacting every agent in your area alerting that your home is on the market. These days if your home is on the market say longer than 30 days, the interest is viewing left over home is slim. In a declining market it is not uncommon to lose money. - Sat Sep 13 2008, 09:46

try zillow.com it gives you a estimate what the calculator says. This is a ball park estimate.
If you get a letter from the County Assessor Office the government has a good feel for it.

How many Hummers are in the Used Car lot priced below Kelly blue book and how many people are actually purchasing them? The reality is supply and demand. If there is a discounted home in your neighborhood similar to yours, the number will come out lower than you want to hear. - Mon Aug 25 2008, 13:59