Author Archives: jenipfeiffer

BAY AREA PINCH $1 million ‘average’ homes? Let’s talk!

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Voracious demand driving record sales in ‘mansion’ bracket.

Courtesy San Jose Mercury News by Steve Johnson and Pete Carey

There was a time when a million-dollar home was something families drove by on a Sunday outing to get a glimpse of how rich folks lived. But now they’re more common than Starbucks, at least around here.

Fueled by the booming tech economy and seemingly insatiable demand for housing, the Bay Area set records in the second quarter of this year in the number of homes sold for $1 million or more as well as those costing at least $2 million, a real estate information service said Thursday.

CLICK HERE for the full San Jose Mercury news article.

June home prices recover pre-crash peaks in much of Bay Area

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Courtesy Pete Carey San Jose Mercury News, July 16, 2014

Soaring single-family home prices in much of the Bay Area are near or above pre-crash peaks — and topped $1 million in San Francisco for the second month in a row — according to a report released Wednesday.

The median sale price of single-family homes sold in June in the nine-county Bay Area was only 8.6 percent off a 2007 peak of $675,000, according to the real estate information service DataQuick.

“The Bay Area is leading the way in price recovery and has for a couple years now, because it’s seen relatively strong job growth,” said Andrew LePage of DataQuick.

CLICK HERE for the full San Jose Mercury News article.

Gorgeous Evergreen Home_OPEN HOUSE Sat/Sun July 5 & 6 1:00-3:00pm

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OPEN HOUSE Sat/Sun July 5 & 6 1:00-3:00pm. Gorgeous Evergreen Home nestled near the elite Silver Creek Hills. Courtesy Jeni Pfeiffer, Realtor

This beautiful 4 Bed and 3 Bath home located at 1639 Gypsy Place Court, San Jose 95121 is listed for $600,000 and won’t last long.

CLICK HERE for more information about this listing.

Please feel welcome to contact Legacy Real Estate Agent Jeni Pfeiffer for additional questions. 408.813.4256

BRE#01709666

 

Silicon Valley Mortgage Rates June 13_2014

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Courtesy Tony Guaraldi, VP of Mortgage Lending Guaranteed Rate Mortgage

Are Interest Only loans coming back???  Well technically they never fully left the industry even after the mortgage market meltdown in 2008, but most people are unaware these programs still exist today.  However, there is only a small handful of lenders that offer the Interest Only programs today and they are nothing like “fog the mirror” test to qualify for them as it many people joked about prior to 2008.  In fact the Interest Only programs offered today are even more strict in terms of income, down payment, and credit requirements then their principal in interest counter parts.  Makes sense that underwriting would be more strict as the lender is taking more risk by not have principal reduced every month.

CLICK HERE for the current Friday Mortgage Rate Sheet effective June 13, 2014.  Continue reading →

Bay Area home sales great for sellers, tough on buyers

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“Bay Area Housing – Hopeful buyers face big hurdles – Low inventory drives up prices shutting out midlevel shoppers”

Courtesy Pete Carey – June 12, 2014

The Bay Area’s housing market stumbled in May — prime home-buying season — as high prices and low inventory held real estate sales well below normal levels, according to a report Thursday.

Sales of single-family houses were down from the same month last year in the East Bay, Peninsula and South Bay, while prices were up, according to real estate information service DataQuick, which released the report. Prices for all types of homes were at their highest since November 2007 in the nine-county Bay Area.

CLICK HERE for the full Mercury News article.

 

Intero founder Gino Blefari to take charge of Warren Buffett’s real estate franchise business

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Congratulations Gino Blefari – A great businessman, leader, inspirational mentor who I appreciate many great years having been a part of his team!

Courtesy Inman News, June 10, 2014

Earl Lee, the veteran Prudential Real Estate executive who helped launch Warren Buffett’s new real estate franchise brand, Berkshire Hathaway Home Services, will step down as CEO of parent company HSF Affiliates Inc. on Jan. 1 and hand over the reins to Gino Blefari, the founder of Intero Real Estate Services.

Cupertino, Calif.-based Intero Real Estate Services was acquired last month by Buffett’s giant brokerage firm, HomeServices of America Inc., giving the company a foothold in Silicon Valley.

CLICK HERE for the full Inman News article.

Gorgeous Homes in Mountain View and Los Altos_Broker Tour June. 6

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By Jeni Pfeiffer, Associate Broker, Realtor

June 6, 2014 – It was a busy Mountain View and Los Altos Broker Tour today! Here are some highlights of homes that I visited. First, three favorites from the Mountain View Whisman Station:

  1. 125 HUNTINGTON CT Mountain View – Boasts 16 year new unit with 3 Bedrooms and 2 1/2 Baths, listed for $849,000. with $215 HOA fees – Serenity and pride of ownership, I found the painted soft beach colors very soothing.
  2. 121 FREDERICK CT Mountain View featuring 3 Bedrooms and 2 1/2 Baths – The stately column entryway is handsome! This nice end unit means more windows, natural light and lovely views of the greenbelt! Listed for $840,000 with $215 HOA fees.
  3. 248 WALKER DR #8 Mountain View featuring 2 Bedrooms and 2 Baths, 33 year new. The greenbelt view is inviting, and unit has been nicely updated. Listed for $698,000 with $440 HOA fee.

Continue reading →

Magnificent SF Pacific Heights Decorator Showcase 2014 Mansion

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By Jeni Pfeiffer, Associate Broker, Realtor

2014 San Francisco Decorator Showcase. 3660 Jackson Street_Pacific Heights designed by Walter Danforth Bliss and William Baker Faville

2014 San Francisco Decorator Showcase. 3660 Jackson Street_Pacific Heights designed by Walter Danforth Bliss and William Baker Faville.

Today is the final day to tour the magnificent 3660 Jackson Street, San Francisco Pacific Heights Decorator Showcase 2014 mansion.

Crafted in 1908 for Alfred and Rose Sutro, designed by the architectural team of Walter Danforth Bliss and William Baker Faville, this stately Classical Revival structure, embraced by climbing figs, sits on a third of an acre overlooking the Presidio and San Francisco Bay.

This extraordinary home was listed for sale in 2013, and quickly Sold for $18,000,000. Dozens of the Bay Area’s top interior and landscape designers have transformed the elegant 9,000 square-foot mansion combining modern touches with an elegant backdrop. Continue reading →

Mortgage Rates May 9_2014 in Silicon Valley

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Courtesy Tony Guaraldi, VP of Mortgage Lending Guaranteed Rate Mortgage

CLICK HERE for the current Friday Mortgage Rate Sheet effective May 9, 2014.

As we had hoped Bonds continued to climb for most of the week.  As you can see from the below Bond prices are at their peak for 2014 which means rates are among the best available this year so far.  Continue reading →

Low-water landscapes think outside the box

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By Angela Hill: Oakland Tribune, March 6, 2014

Water-Wise Garden_Photo Courtesy Jeni Pfeiffer

Water-Wise Garden_Photo Courtesy Jeni Pfeiffer

Gardeners, dry those tears — or maybe collect them to water your hydrangeas. Yes, we’re looking at drought-induced water restrictions in the coming months despite the recent rain, and reality soon will place California home landscapes on a permanent water diet — reducing liquid-loving lawns and moisture-gluttonous plants and instead bulking up on water-wise vegetation that’s fit for the future.

But that doesn’t mean we will be left with rock gardens and cactus — not that there’s anything wrong with that. Experts say we can use this as an opportunity to get creative, think outside the boxwood, reimagine lawn areas and go wild with the abundant beauty of natives, succulents and even, yes, cactus in its many colors and structural shapes.

CLICK HERE for the full Mercury News Article