Here’s are some sample numbers taken from the Merc’s article published on Monday, August 10th:

Willowbrook Drive, San Jose, List: $335,610, 74 Offers, Sold for $484,500

Sark Way, San Jose, List $299,000, 112 Offers, Sold for $360,000

Panama Avenue, San Jose, List $185,000, 50 Offers, Sold for $206,560

Of course, these numbers aren’t typical, but they demonstrate that entry level buyers/investors are taking advantage of the low prices, low interest rates and 1st time home buyer credit.

Here’s a link to the complete article: 

http://www.mercurynews.com/ci_13009813?source=email

We have reduced the price to $1,850,000. It’s a 5 bedroom, 3 bathroom home that features:

•3,277 sf of living space (per Real Quest)

•9,148 sf Lot (per Real Quest)

•Dramatic 2 story entry 

•Hardwood Floors downstairs, wall-to-wall carpeting upstairs

•3 wood-burning fireplaces w/gas starters

•Bonus loft serves as children’s retreat or 2nd family room

•Family Room w/built-in cabinetry

•Formal dining room w/French Doors leading to backyard

•Full Size bar with granite counter & Marvel wine refrigerator

•Wood-paneled subzero refrigerator/freezer

•Walk-in Pantry & Breakfast nook with window seats

•Downstairs Bed/Den w/ built-in murphy bed

•Full Bathroom downstairs

•Great master w/fireplace, high ceilings & jacuzzi bath with jets

•Hheated gazebo

•Lynx outdoor 6 Burner gas grill & 2 burner cook top

•Marvel outdoor mini refrigerator

•Black bottom pool & spa with solar & standard heating

•Stone waterfall

•Pop-up cleaning system

•Views of Black Mountain

• Indoor & outdoor built-in sound system

• Professional landscaping

• Custom built storage sheds & 2 car attached garage

It will be open Saturday and Sunday, October 18 & 19, 1:30-4:30

Photo taken by Brian Sumner

All the new plumbing, wiring and windows are in!

 Channing living room ceiling on 6/18/08

 more to come…

My first trail run of 2008, the Sequoia Trail Run  in the Oakland Hills, got off to a late start. We got stuck in traffic approaching the Bay Bridge and by the time we arrived at the park and checked in, we were already 16 minutes behind. That’s no excuse for my poor finish, though. My time for the 19 mile run (subtracting the 16 minutes) was 3:54:44. Mark’s actual time was 3:12:14. Not his best time, either. The elevation gain was 3,070 feet, not as difficult as some of our other runs. I need to train harder!  

5‐1 ARMs: Yes, this is good news if your 5‐year ARM is pegged to a treasury index. The one‐year treasury is a common index for many adjustable rate loans, and it has plummeted from 5 percent in July down to now about 3.25 percent. So if you’re facing a reset on, say, a $200,000 loan, you’re now getting a payment increase of about $150 a month, as opposed to $370 a month, which you would have had before the Fed started cutting rates.