Jeff Hansen & Arvin Paredes

408-657-9837

Downtown San Jose Condo & Townhouse Living

Buyers Category

Sales In The Past Month 8/9/11-9/9/11

Interested in what condos/townhomes have been sold in Downtown San Jose this past month?

According the Multiple Listing Service (MLS) the following is a summary of units that have sold in the zip codes: 95110, 95112, 95126.  Additional Information such as specific details about each property are also included after the chart. Check it out…

Read the rest of this entry »

The Top 18 Things About Living In Silicon Valley

Let’s face it. Living in Silicon Valley is unlike living anywhere else. There are numerous reasons as to why living here is undeniably attractive. With San Jose being the 10th largest city in terms of population in the United States, you start to wonder what it is that brings a huge influx of people to this area. The following is a list of what I think are the top 18 things about living in Silicon Valley in no particular order. 

1. It’s culturally diverse!
2. Approximately a 40 min drive to the ocean and relatively close to the snow. (Tahoe/Sierras)

Santa Cruz Beach Boardwalk

  Read the rest of this entry »

What Are The Consequences Of A Short Sale And Foreclosure?

During a down market, homeowners are faced with decisions such as doing a shortsale, letting their property go, or continuing to pay their headache of a mortgage. In his article, “Life After Short Sales and Foreclosures,” Lender Dave Setti of Turnkey Mortgage explains how going through a short sale or foreclosure affects your credit as well as the time you must wait to be a homeowner once again…

Read the rest of this entry »

Is It Better To Rent Or Better To Buy?

What I’ve come to realize in my 18 years as a realtor, people either rent or they own. It may seem easier and cheaper to rent, but what people forget about are the benefits that come with owning. This article explains that even when home values aren’t at their highest, owning your property proves to be a better decision than renting from a landlord. Leave a comment below about your experiences with buying versus renting.Renting Vs. Owning

How Much Of A Role Does Credit Play In Purchasing A Home?

Lender Dave Setti of Turnkey Mortgage does a fantastic job of breaking down the different aspects of credit and how each of those aspects play a role in purchasing a home. Read below in his article of the “Five Factors of Credit Scoring.”

Five Factors of Credit Scoring

Not to put too fine a point on it, CREDIT IS KING! When it comes to buying a home, yes a lender want you to put some money down and have a solid income. But credit comes before down payment and income every time. Why you say? Simple: if you have a low income, you can always get a co-signer. If you have no down payment, you can always get a gift. However, if you have poor credit, you have to work for months, sometimes years, to erase the damage you have done. Remember, the best indicator of whether you will pay your bills in the future is whether or not you have paid your bills in the past! So what are the factors that make up your credit score?

Credit scores are comprised of five factors. Points are awarded for each component, and a high score is most favorable. The factors are listed below in order of importance.

1. PAYMENT HISTORY – 35% IMPACT
Paying debt on time and in full has the greatest positive impact on your credit score. Late payments, judgments and charge-offs all have a negative impact. Delinquencies that have occurred in the last two years carry more weight than older items.

2. OUTSTANDING CREDIT CARD BALANCES – 30% IMPACT
This factor marks the ratio between the outstanding balance and available credit. Ideally, the consumer should make an effort to keep balances as close to zero as possible, and definitely below 30% of the available credit limit at least 2-3 months prior to trying to purchase a home.

3. CREDIT HISTORY – 15% IMPACT
This portion of the credit score indicates the length of time since a particular credit line was established. A seasoned borrower will always be stronger in this area.

4. TYPE OF CREDIT – 10% IMPACT
A mix of auto loans, credit cards and mortgages is more positive than a concentration of debt from credit cards only. You should always have 1-2 open major credit card accounts.

5. INQUIRIES – 10% IMPACT
This percentage of the credit score quantifies the number of inquiries made on a consumer’s credit within a twelve-month period. Each hard inquiry can cost from two to 25 points on a credit score, depending on the amount of points someone has left in this factor. Note that if you pull your credit report yourself, it will have no effect on your score.

Was this article helpful? If you have any other questions about this topic, please don’t hesitate to contact me.

Curious As To Who Pays What Closing Costs?

I’ve helped many people both clients and non-clients with a variety of questions they’ve had. One question is who pays for closing costs? Sometimes they don’t ask this question because let’s face it, during the midst of finding their dream home, they have so many things running through their mind that they forget. Hopefully this will help you as a buyer, seller, agent, or anyone for that matter to have the ability to answer this question with ease.

Depending on the county, closing costs for a real estate transaction must be paid either by the buyer, the seller, or both. It’s important as a party in a transaction to be well aware of who pays for what. By clicking here, you can find out these exact details for every county in California. For example, if you are purchasing the perfect condo downtown, as a buyer you should know that the seller pays for a majority of the closing costs.  Purchasing a home is, for most people, the biggest transaction they will have made in their entire life, and this gem of a document shows exactly who pays for what in closing costs. Don’t forget to Subscribe!

Do You Forget To Ask These Five Questions When Interested In Buying In A Complex?

Motivated buyers have a lot of decisions to make. They have to decide where they want to live, the type of home, the size, and last but certainly not least, the price they are willing to pay for it all. So what are four questions that a buyer should ask to save time in case their agent isn’t on top of their game?

The first question they should ask if interested in a unit is whether or not the complex is in litigation. This is because it greatly affects their ability to buy. If the complex is in litigation, buyers please be ready to make that offer all cash.

You should then ask what the owner occupancy ratio is because if it isn’t over 50%, it may be nearly impossible to get financing.

Third, it would be smart to ask what percentage of the complex is delinquent on HOA payments. If it reaches 16%, that is 16% or more are late on HOA payments, then it would also be nearly impossible to get financing. Read the rest of this entry »

5 Reasons Why Condo/Townhome Living Is Desirable

5 Reasons To Live In San Jose COndo/TownhomesThere is an incredible amount of reasons why condo/townhome living is more attractive than for example, living in a house. It would be impossible to name them all especially since everyone has their own personal opinions. However, I believe that most people can agree on these five reasons of why condo/townhome living is truly desirable.

1) Little To No Maintenace

First off, there is very little to no maintenance that need to be taken care of such as mowing the lawn, pulling weeds, checking the PH level for your pool…etc. Maintenance consists of two things, time and hassle. If you live in a condo or a townhome, you won’t have to go through the trouble of asking your friends and neighbors who the most trustworthy plumber is at the best price. Typically there is an on-site handyman that you won’t have to micro manage when he/she is making the repairs in your unit.

2) Shared Amenities

Secondly, there are shared amenities. Depending on the complex you live in, you may not have to drive to the gym because you might possibly have one below you or within walking distance in the complex. Read the rest of this entry »