Brenda Keener
Recent posts
August 31, 2008
The word “mansion” means different things to different people. To someone who lived in poverty all their life, a mansion might be a 4 bed 2 home in a nice neighborhood with enough yard for a garden. To most of us spoiled Silicon Valley-ites, a mansion means a sprawling home on several acres with a pool and spa at a minimum, and maybe even a vineyard.
This is an interesting question…….and I am of the humble opinion that any home can become a mansion with the proper care and love. A smaller home with newer fixtures, carefully tended flowers, and beautiful furnishings can be a mansion to its occupants - and much more hospitable than a larger untended home without proper care.
When I can afford my mansion, here are some of the features I want, and believe will put it in the “mansion” category.
- At least a 10K square foot lot
- 5 beds and 3 baths
- Crown moulding
- Exotic hardwood flooring, not just simple oak
- Engineered quartz kitchen countertops and maple cabinets (not just oak, again)
- A pool and spa
- A Viking stove with six burners
- 6 panel doors- solid
- A fireplace with a stone mantel
- A brightly colored flower garden
- Productive fruit trees
All these little touches to me add up together and say MANSION! Here are some homes I consider to be mansions currently up for sale in the South Bay:
280 Shannon Oaks Lane, Los Gatos This is a 6 bed 4 bath home set on 3.2 acres with an outdoor kitchen, custom pool, and designer carpeting for just under $4M - great for when IPOs start springing up around here again! At 4658 square feet, you could get lost in this home…..
18620 Vessing Road in Saratoga is more reasonably sized at 2766 square feet with one acre of land. This home has a stunning pool area and patio for entertaining, and room for two horses. It is a 5/3 with a 3 car garage and gorgeous views of the valley, and is offered at $1.99M
1015 Avondale in San Jose lies on the Cupertino border and has two kitchens, in-law quarters, 6 beds and 4 baths contained within 3708 square feet. It is priced at $1.695M and has a lot just over 10K square feet. But alas, it has no pool.
What does a “mansion” mean to you?
August 30, 2008
The study of numerology is ancient, and revered by many. I hadn’t realized how accurate it could be until I came by an article recently that described the energy of houses whose numbers could be reduced to certain basic numbers. A five house was described as a “temporary dwelling”, one in which occupants would continually be moving in and out of. During the six years I lived in a five house, I had a constant revolving door. A nine house is described as a house of endings and completion - I got a divorce while living in a nine house.
To find the number of your house, simply add the street numbers together until you get a single digit. For example, if you live in 13752 Easy Street you add 5 and 2 to get 7, then add 7 and 7 to get 14 then 1 and 4 to get 5, then you add 5 and 3 to get 8 - which you finally add to one to get 9. Most of us live in houses with less numbers, so it doesn’t have to be quite this complex! If you come to a point where the last two numbers you have left to add are 1 and 1 or 2 and 2 - then you don’t reduce any more as 11 and 22 are master numbers - and mean great things will happen to you while living in that house.
The numbers and their meanings are:
A One House: One is the number of beginnings, and living in a one house can move its occupants towards trend setting, leadership, and positive new experiences. It has a lot of positive energy, but on the down side, its occupants could be prone to snobbery or selfishness. These houses are are considered more prone to fires.
A Two House: Two homes are cozy, relationship oriented homes that encourage balance in all things. They are peaceful, but can be TOO peaceful. Occupants may find themselves just wanting to relax rather than doing anything constructive.
A Three House: Three houses are cheerful, friendly homes just waiting for a good party to happen. If you like a quiet home, a three home is not for you! Three homes are also prone to clutter, but can inspire creativity in the occupants.
A Four House: Four homes are the natural home of the builder or ladder climber. I made the greatest strides in my career while living in a four home, but was so driven I had very little time to enjoy my nice home. Four homes tend to be neat and tidy, but can be prone to structural difficulties.
A Five House: Five homes are very high energy homes, and considered “temporary shelter”. Numerology books say that either occupants will be moving in and out all the time (this was my experience), or the decor will constantly change. This can be a good thing if you are an interior decorator, but for the rest of us, it can be (and was) a bit harrowing. The intense five energy can also create strife and disagreements among occupants.
A Six House: Six houses have peaceful, loving and considerate vibrations that bring out the best of the occupants. The downside is that others may try to take advantage of your good nature.
A Seven House: A seven house is a sanctuary - quiet and perfect for meditation and spiritual introspection. This house has a water vibration, so pools and ponds go well with its energy. But it also can be prone to plumbing problems.
An Eight House: Eight is the natural number for prosperity, so an eight house is said to be very auspicious. It is a great choice for ambitious people, but can tend to create a strong material focus for occupants.
A Nine House: The natural number of endings, nine homes also attract those who like to help others. Things that need to leave your life will happen while in nine homes, and the occupants can also find themselves having a tendency to be accident prone. Pet lovers are often attracted to nine homes.
I have lived in five homes since I moved to the Bay Area, and I have to say that this newly discovered wisdom applied to every one of them. I am off to seek a 1, 3, or 6 home for my next choice.
August 29, 2008
Cambrian Park, once a city in its own right and now part of San Jose, is one of the older and more established neighborhoods in San Jose. Here, you can find an older home with character if you so choose - or a nice townhome in a newer development. Bordering the town of Campbell, Cambrian Park lies on the West side of San Jose. It also contains an “island” of unincorporated Santa Clara County land that has never been annexed. It is very convenient to highways 85 and 880/17, and to most of the Silicon Valley high tech companies - making it a desirable area in which to live.
According to the 2000 census, Cambrian Park had a population of 3,258 people with a median age of 38.2 years. Most males are employed by the high tech industry, and the most common job category is engineeer. Today, we have seen a surge of homes for sale in Cambrian Park since January and many great deals are to be had. According to Redfin, there are a total of 395 homes on the market in this neighborhood right now - and the overall stats are:
Median prices have dipped here, as well as the rest of San Jose. The median price per square foot is now at $410, a downward trend that appears to have tracked the upwards trend in inventory.
Given the close proximity to major Bay Area employers, great restaurants, and the higher valued towns of Campbell and Los Gatos - Cambrian Park seems like a good place to invest in now. Luckily, there are lots of homes to choose from, and 57 homes are open this weekend.
August 26, 2008
Banks are cracking down on would-be-homeowners with less than ideal credit scores, just as tough economic times make it harder to keep our scores up. What can the common person do? There ARE a few things that can legally be done in order to make sure your score improves.
First of all, there are many online services where you can get full credit reports from all three agencies. I tend to trust the sites ran by the reporting agencies themselves, they just seem more accurate and certainly give more detail. The best I have found is www.experian.com - it is not the cheapest, but you get a lot of detail and can even access a credit report simulator that shows the most probable effect on your credit score by taking a number of typical actions, such as bringing accounts current or adding new credit lines.
After you have your report, scrutinize it carefully for errors. You will be surprised at how many you find! For each error, you will need to write a letter to the offending agency (called a dispute letter) and describe what the error is. If you just don’t have time to do this, there are a lot of agencies out there who will be persistent and write these letters for you. Just be careful and choose wisely - the BBB gets complaints about “fake” credit repair agencies every day! Read reviews on each agency, and talk to the actual personnel before you sign up or pay any fees.
Next, to make sure all your bills are paid on time - set up an automated bill pay service such as the free one offered by Bank of America, or through Quicken. Make sure your bills are all mailed five days before they are due.
It goes without saying that paying off any balance overages and keeping credit cards to a manageable number will help, and so does sending a little bit out over the minimum balance on each card so you show that you are making progress.
Avoid schemes where you add someone with good credit as a signer on your accounts in exchange for payment, this is not only unethical (unless you know the person and they want to help you out), but is soon to become illegal. Also, anyone who claims to be able to remove legitimate bad debt probably also falls into the scammer category, and is best avoided.
If you have no credit or very bad credit, one way that you can build your score even if you are turned down for all credit cards is to get a secured card in which you deposit a certain sum of money. These cards usually carry a fee, but do help reestablish credit after tough times. Use it wisely, and replenish the card’s capital every month.
August 23, 2008
Before the big banks got into the act, the main source of mortgage funding was private lending, also referred to as “hard money”. Now, as banks require accurate appraisals, high downpayments, and verified income with good credit scores - more and more would-be homeowners with risky credit are turning to the private money industry.
According to the San Jose Mercury News, at least 11,008 private mortgages were funded statewide in 2007, worth a total of $3.3B. This is down from $4.96B in 2006? Why? This is partially due to the cooling of the real estate market, but also partially due to the requirement private lenders have for equity in the home. Private lenders usually do not play unless there is at least 20-30% equity in a home, and with equity eroding as prices fall, this has been hard to come by in this market. The Merc also goes on to tell us that this data was reported by the California Department of Real Estate, which cannot track the activities of private money lenders outside of the sphere of regulated mortgage brokers.
Private lenders also are several interest points higher than traditional banks, which are higher than the new FHA loans offered. Those who qualify for FHA are much better off going this route.
One lender, DFI, advertises on its site a NOD bailout plan for 10-11% interest with a minimum 65% LTV, or loan-to-value. The site goes on to say that the quality of the collateral and amount of equity are the primary considerations for a loan. These loans are interest only with a balloon due at maturity, and they do carry a prepayment penalty.
Private money may also be risky. Several private money lenders have been arrested for running fraudulent operations in recent months, so if private money is the solution you choose, it makes sense to do a thorough investigation of the firm you plan to engage with.
August 18, 2008
Adding to the growing tide of builders offering incentives to help move new homes, Pulte Homes has just announced a $7500 incentive to all buyers purchasing any Pulte Home before September 15th. From the San Jose Mercury News,
“Pulte Homes fully supports the tax credit and steps taken in the housing stimulus plan to provide an infusion of buyer confidence within the housing industry”, says Richard J. Dugas, Jr., president and chief executive officer of Pulte Homes. “While we expect the tax credit to get more first-time homebuyers off the sidelines and into a home, we wanted to extend our own special offer to all Pulte homebuyers that would stimulate home buyers and sellers at all points on the homeownership spectrum.”
Dubbed the “Jump-Start” program, this incentive applies in addition to any credits or incentives buyers may glean from new governmental programs.
Pulte currently has a new development in the San Jose area called “Altura” - with 220 new two and three bedroom townhomes located near Santa Clara University. These homes range from $539,900 to $689,900 and feature two car garages, gourmet kitchens, inside laundry, and a white picket fence outside for ambiance.
A City of San Jose community park near this complex is also in the planning stages, and the walkways are lined with beautiful fountains.
August 17, 2008
In the South Bay, one of the hottest “up-and-coming” real estate markets is in Silver Creek. Many new million dollar homes and a prestigious Country Club with a pristine golf course form part of the attraction - and the rest can be attributed to easy freeway access and serene views of the East foothills.
The “Silver” lining to the dark real estate cloud lies in choosing which areas will start appreciating fastest when the market turns, but are still priced under where they were in prior years. Although I don’t claim to have a crystal ball, my bet would be on the Silver Creek area for a quick return to solid appreciation.
Thanks to the new neighborhood features just introduced by Redfin, we can take a closer look at the Silver Creek market to get a snapshot of current market conditions. There are now 92 homes for sale and 7 condos - which is not surprising as this area has many more single family homes than condos. Inventory is at a high right now, but homes are moving a bit faster than in the rest of San Jose with an average time on Redfin of 91.5 days. As condo prices are fairly close to single family home prices, it is not surprising than the average time on Redfin for a condo in this area is 122 days. 
The median total price reduction for a home is 5.8%, so if you find a home here you fall in love with, it is still worth it to wait a bit before putting in an offer. Chances are, the price will adjust.
As the average home price here is higher than most areas of San Jose, even smaller homes are a good investment as they will benefit from the comparables in the area.
Prices range from $448K for a 3/2 at 1742 Silver Creek Court, to $2.999M for a 5 bed, 4 bath mansion at 2026 Biarritz Place. This was a recent reduction from the $3M+ range!
In Silicon Valley, many of my corporate coworkers have measured their success by being able to buy a property in Silver Creek. This mentality will be instrumental in its come-back, when the market turns.
August 15, 2008
Today’s Square Feet blog pointed out that the new Housing Rescue bill - while highly praised as necessary and timely, contains 694 pages of “mumbo-jumbo” that most homeowners in trouble would have trouble plowing through. Federal legislators at least added some help in navigation, but the Square Feet blog went on to point out:
“Unfortunately, if you are going to read the fine print, nothing will save you from paragraphs like this one, which is in the section about the first-time homebuyer tax credit:
‘‘(2) LIMITATION BASED ON MODIFIED ADJUSTED GROSS INCOME.—
‘‘(A) IN GENERAL.—The amount allowable as a credit under subsection (a) (determined
without regard to this paragraph) for the taxable year shall be reduced (but not below zero)
by the amount which bears the same ratio to the amount which is so allowable as—
‘‘(i) the excess (if any) of—
‘‘(I) the taxpayer’s modified adjusted gross income for such taxable year, over
‘‘(II) $75,000 ($150,000 in the case of a joint return), bears to
‘‘(ii) $20,000.”
I don’t know about you, but I am confused! I hope that ambiguity doesn’t create delays that hold up the much needed help for homeowners in our troubled times.
A site that provides a “cheat-sheet” to this tedious document can be found at http://www.ushousingmeltdown.org/2008-housing-law.asp. This site separates out the key areas of the new law and points to the pages in which each section is covered. It also educates citizens about the “pork-barreling” that went into this much needed new law - with this section:
“Pork highlights include tax breaks for an unnamed auto partnership that produces 675,000 autos between 1/1/08 and 6/30/08. Chrysler? Pages 675-676.Another interesting addition is this provision that allows a foreign company, National Steel Car of Canada, to obtain millions of dollars in tax-exempt financing for a railcar manufacturing plant it is already building in Colbert County, Alabama. This is located almost 300 miles from the areas ravaged by Hurricane Katrina. The law expands the Gulf Opportunity Zone (GO Zone) to include Colbert County and Dallas County, Alabama. Pages 680-681On page 681 you’ll find the passage that increases the debt ceiling on national debt to $10,615,000,000,000. Wow! That’s a big number. That’s ten trillion, six hundred and fifteen billion dollars. I’ll take it in pennies, thank you. ”
What do auto dealerships, railcars, and the national debt have to do with the current housing crisis? Hmmmmm - maybe the rail car plant will include worker housing? Or perhaps the government is thinking that those who lose their homes could live in their cars?
[Photo Credit: www.art-contest.com]
August 11, 2008
This weekend, my family and I visited open houses in the South Bay area as the first steps to buying a new “dog and kid friendly” home. We saw several beautifully staged homes, and some that were not so wonderful. Having bought and sold several homes and worked with professional home staging services, I have also seen what works and what doesn’t when holding open houses. Here is my personal checklist of what NOT to do when selling:
- Strong food odors are a turn-off to visitors during an open house. If you absolutely MUST eat fish or curry before your home is open, find a great nearby restaurant
- If you smoke, don’t do it in your home if resale value matters to you! The odor lingers in the carpets and walls - and becomes impossible to remove
- Take your animals temporarily to a boarding facility or friends home. Some people are highly allergic to cats and dogs - and a barking dog becomes a huge distraction to potential sellers. Birds can go outside temporarily
- Don’t leave the lights off. You may be saving energy, but your home will appear darker and smaller
- Don’t leave clutter - it constricts the space and makes areas appear smaller
- Don’t let your yard turn brown - it makes even a spacious yard appear small and makes the potential buyer wonder what else you have neglected
- Don’t leave cars in the driveway, obstructing the view of the property
- Don’t leave obvious defects such as peeling wall paper, paint, or holes in the wall in plain view. Patch them, or cover them with a piece of furniture. If the seller becomes interested, then you can disclose these details
- Don’t leave litter boxes out in plain view
- Don’t assume potential buyers won’t look in your messy closet - take the time to clean it so it appears spacious
- Air fresheners can become overpowering when overdone - best to use them many hours before the open house
- Don’t leave your stove, refrigerator, or oven dirty
- Don’t leave piles of yard waste in your backyard
- Don’t leave dead plants in the yard or home
- Don’t leave laundry out in the laundry room
- Don’t leave cosmetics or toiletries lying around in the bathroom. Bathrooms are one of the first places buyers will look
- Don’t leave carpet stains untreated
- Don’t play music in an effort to make the home appear more sellable. Everyone has different tastes in music, and it can be distracting
- Don’t leave family pictures up, it brands the home as “yours” and makes others uncomfortable
This is my pet peeve list - anyone care to add more?
[Photo Credit: Pilesofpapers.com]
August 8, 2008
The South Bay comes alive this weekend with the sights and sounds of the one truly American art form: jazz! Held in the center of San Jose, this year’s jazz festival features headliners Big Bad Voodoo Daddy in a tribute to Cab Calloway performing on the main stage (in front of the Fairmont Hotel) tonight at 8:30 PM, and Manhattan Transfer, closing the festival on the main stage at 6 PM Sunday.
Other “don’t miss” performers include the Gail Dobson Latin Sextet performing on the Smith Dobson memorial stage at noon tomorrow - featuring 3 generations of talent from this amazing Bay Area family, David Sandborn, the Silicon Valley’s own Full Spectrum Jazz Orchestra(a big band made of mostly performers who are high tech professionals), and the Wayne Wallace Latin Jazz Quintet.
On the Future of Jazz stage - you can catch jazz bands from area high schools and colleges too. Highlights include The Gail Dobson Youth in Jazz performance at 3 PM tomorrow (featuring my two daughters among other talented children!), and the Santa Clara University Jazz Combo at 5 PM tomorrow.
Other events include a Club Crawl of local restaurants/clubs, with many outstanding local talented groups performing in tandem as well as master classes and jam sessions to be held throughout the area. The festival food is outstanding at this event, and the typical festival booths have a wide array of interesting clothing and crafts.
Admission is $10 for adults and free for children under 11. This festival gets VERY crowded and parking is hard to find, so I suggest parking somewhere near the Light Rail and riding in.
