There has been a lot of happenings at the Warfel household! Our son, John, had his 5th birthday, and ‘graduated’ preschool. He is excited about going to Kindergarten in the fall. As far as other milestones, Mimi and I celebrated or 19th wedding anniversary. She still chases me around the house, but at a slower pace!! On the home front, we’ve been updating the look of our kitchen. With the help of our friend Cindy, our handyman Phil, and many many, hours of hard work, we sanded and painted the kitchen cabinets, installed new door and drawer hardware, installed a built-in microwave/range hood combo, and replaced our original avocado green single oven with a more modern convection double oven. All the appliances finally are the same color!! It is looking light and bright in the kitchen! There are still some finishing touches to work on, but it sure is a vast improvement over the original dark cabinets.

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Professional News:

I completed the coursework for and received the designation of Certified Short Sale Professional (CSP). A short sale occurs when the net proceeds after all sales expenses have been paid are inadequate to pay all the loans in full. This situation is happening more frequently as housing values have fallen. In order to have a successful short sale transaction, it is critical that the listing agent be knowledgeable in the short sale process. Ensuring your Realtor® has a CSP designation is a great way to ensure that the agent has the knowledge to execute a successful short sale. A seller must qualify for a short sale, including demonstrating financial hardship. In terms of the effect on credit score, the short sale may have a negative impact, depending on how the bank reports the short sale, but historically it has shown to be far less damaging than a foreclosure. If you or someone you know is in this type of situation and needs the services of a Certified Short Sale Professional, please contact me with their information. I’ll be sure to take great care of them.

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 a handyman to pool service, from a dentist to a podiatrist, I have an excellent list of resources. E-mail me at dale@dalewarfel.com and let me know what you need.

Looking for Property? (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: http://advisormls.com/Advisor?operation=search&key=11876785849682

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HOT NEW LISTING! - Tri-Plex Near Downtown San Jose


Thinking of owning some investment property in a great location? Located just minutes from downtown San Jose, this affordable 3-unit property is fully rented and ready for a new owner. This property features a separate 3 bed / 1 bath ‘owners’ unit and a separate duplex building in the back with two 2 bed/ 1 bath units. These units have been updated with dual pane windows and newer central heating and air conditioning systems. Each unit has laundry hookups. This property needs some TLC, but with some sweat equity and some help from the trades, this property could be in tip top condition. Excellent cash flow - Over $3,800/month rent!! Great location near downtown San Jose, SJSU, Hwy 280, 101, 87, light rail, and more!

This property is listed for $703,250.
Click here for more details.

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This property is next door to 125 Duane street. This 4-plex also has been updated with dual pane windows and central heating/air conditioning systems. All 4 units are 1 bed/1 bath units, These units are in a high demand area, and are very easy to keep rented, as they are only a few minutes drive from Downtown San Jose, SJSU, shopping and restaurants. Detached laundry room services all 4 units. These units also feature ceiling fans in each bedroom. Cash flow is over $3,900 per month!

This property is listed at $727,500.
Click here for more details.

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This wonderful home features remodeled baths with new fixtures, tile floors and custom tile surrounds in the tub and shower enclosures. Gleaming hardwood floors adorn the living room and hallway. Dual pane windows and a newer central heating system. The kitchen could use some updating, but offers plenty of counter space and storage, especially with the pantry. This home is priced to sell. Did I mention copper plumbing??

This home is listed for $579,000.
Click here for more details.

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This gorgeous, 14 year old home is in a prime Sunnyvale location, has been updated throughout, and offers a tranquil respite from the daily grind with golf course views! The functional kitchen features granite counters and stainless appliances. 9’ ceilings with recessed lighting, and an open floor plan offer a feeling of spaciousness you would expect in a larger home. The beautiful living room fireplace is accented with a marble surround. The stylish custom plantation shutters dress up the windows beautifully. This home must been seen to be fully appreciated.

This home is listed for $539,950.
Click here for more details.

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This wonderful townhome is located walking distance from beautiful Santa Teresa Golf Club. This unit is the largest floor plan in the Santa Teresa Townhome community. The plumbing was recently replace with copper piping throughout. Bathrooms have been remodeled with gorgeous vanities, and the full baths feature custom marble tile floors and tub/shower surrounds. This home also features a 2 car garage, plenty of guest parking, and a private courtyard. Located near Hwys 101, 85, and 87, and VTA Light Rail, this home is a commuter’s dream!

This home is priced to sell at $490,000.
Click here for more details.

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Walk to downtown Willow Glen in minutes from this spacious 3 bedroom townhome. Remodeled kitchen, Berber carpeting, wood frame windows, skylights, sun tunnels, spa tub, central AC, fireplace, 2 car garage with storage and much more! Small complex with mature landscaping, oak trees, and secluded pool/spa.

Click here for more details.

Thank You:

Thank you to Steven P., Salvador P., Jeana N., Sandra W., and Tony D. for your referrals.

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Remember to check out my website and benefit from the wealth of information: http://dalewarfel.com/

You could also contact me via email at: dale@dalewarfel.com or on the phone at: 408.624.6202

My expertise lies in selling homes in Almaden Valley and Willow Glen. Log on to these two
websites to get local news and information, which you can use, for these areas.

http://almadenvalleyhomesforsale.com
http://willowglenhomesforsale.com

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Market Update

With all the news of foreclosures headlining the news, it is easy to overlook the signs that we may be near the bottom of the market.

According to a May 20, 2008 Bay Area Home Sales Report released by real estate news source DataQuick, ‘Bay Area home sales edged up from a seven-month run of record lows last month, indicating that mortgage availability and an increased number of fence sitters have decided they like today’s lower prices.’

In other news, a May 22, 2008 Realty Times article entitled, ‘Real Estate Outlook: Worst is Over’, ‘The housing market offered some immediate hints of recovery with new home starts up by 8.2 percent last month [April, 2008] and building permits up by 5 percent.’

The California Association of Realtors reported on May 23rd that ‘Home sales registered a 2.5 percent year-to-year gain compared with April 2007, ending a 30-month string of year-to-year percentage decreases that began in October 2005.’

Other signs that we are at, or near, the bottom of this cycle are:

Buy and hold investors are coming back into the market.

Multiple offers on bank-owned properties, trophy properties, and well-priced homes in the best school districts.

If you have been sitting on the sidelines waiting to enter the market, there may not be a better time than now. Prices in some markets may not have hit their lowest point, but they probably aren’t far off. In many areas, only the pace of sales has been affected while prices have held firm and in some cases, have gone up.

The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home’s worth, please call or e-mail me at dale@dalewarfel.com.

Bank-owned properties in Santa Clara County continue to offer prospective home buyers an exceptional opportunity to save on their home purchase. If you are interested in learning more about bank owned properties, call or e-mail me at dale@dalewarfel.com!

Thinking of moving up?

With the combination of low interest rates, higher inventory and settling market values (in most communities), this is a great time to consider making a move to a larger home. How long will this market last? No one knows for sure, but, historically, prices and interest rates typically move up faster than they fall, so we may not have this type of a market opportunity again for quite some time.

Market Snapshot - Santa Clara County

Single Family Homes

	Inventory	Closed Sales	% LP Rec7rs d	Avg. Price	Avg. DOM	New Listings
May-08	6,132	873	98.29	$970,702	47	2,124
Mar-08	5,522	583	98.94	$984,325	55	2,051
Feb-08	5,068	424	98.20	$988,772	58	1,855
Jan-08	4,563	337	97.13	$1,005,253	59	1,629
Dec-07	4,163	490	98.16	$998,788	54	946
Sep-07	4,875	506	99.83	$1,079,868	36	1,730
Jun-07	4,465	979	100.20	$1,065,282	40	1,984
Mar-07	3,345	890	99.73	$1,065,798	57	1,888
Dec-06	2,349	825	98.30	$903,208	59	562
Sep-06	3,926	887	99.00	$922,195	50	2,006
Jun-06	3,793	1,192	100.17	$989,891	35	2,491
Dec-05	1,958	970	98.98	$881,718	41	705
Jun-05	2,654	1,623	100.95	$926,348	17	1,743

Condos / Town homes

	Inventory	Closed Sales	% LP Rec’d	Avg. Price	Avg. DOM	New Listings
May-08	2,022	252	97.84	$527,957	50	691
Mar-08	1,808	196	98.37	$569,869	53	625
Feb-08	1,730	141	97.99	$553,161	64	623
Jan-08	1,591	138	98.07	$523,566	66	599
Dec-07	1,384	188	97.77	$533,120	51	321
Sep-07	1,752	184	99.36	$558,182	42	598
Jun-07	1,604	415	100.00	$574,099	36	742
Mar-07	1,202	416	100.00	$559,760	61	739
Dec-06	948	343	99.07	$522,741	53	214
Sep-06	1,525	387	99.43	$523,614	44	773
Jun-06	1,291	479	100.50	$522,932	34	953
Dec-05	707	423	100.25	$514,549	36	312
Jun-05	760	673	103.79	$506,697	14	683

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