What is a Short Sale or Short Payoff? A short sale (also known as a short payoff) is when a lender or lenders accept a discounted payoff on an existing mortgage to avoid the cost of a foreclosure. In other words, when a homeowner owes more than can be collected through a real estate sale, a short sale allows them to sell their property to avoid a foreclosure for themselves and the lender.                                                                                               Who Benefits?  A short sale can be a win-win situation for all parties. It can minimizes the time and costs associated with a foreclosure by the lender. By accepting a short sale, the lender experiences savings on average of $14,000 and reduces the time to receive payment by approximately 6 months.  In turn, t... 03/01/2008

It is not always a lack of money that creates financial pressure. Many times it is simply a matter of attitude. It's the use of money and the attitude toward money that is the problem when overspending.  There are many ways to get into debt but only one sure way to get out and stay out of debt: self-discipline.  Regardless of income, disciplined debt elimination is mandatory in order for a money management plan to work effectively.Allow no more debtDon't use any more credit or credit cards until all existing debt has been paid. Pay with cash, check, or debit card at the time of purchase. Don't borrow any more money from institutions, family, or friends until all indebtedness (home mortgage excepted) has been satisfied. Develop a realistic budgetYou will need a written budget that alloca... 03/01/2008

From time to time The Mortgage & Property Connection sends out specialized surveys to selected groups for marketing and educational services.  With the recent changes in the real estate market place, as well as the wedding season around the corner, we decided to gather information about local newlyweds.  I think you will find the results thought provoking.The majority of responders were between the ages of 33-40 and first marriages.  Most did not have a written budget.  Every responder lived in our area for more than 2 years.  An incredible percentage eats out on a regular basis.  Only 23% of the responders owned their own homes. The parents helped with the down payment in most situations. A small percent knew what their credit score was or even if their spouse had good credit.  One que... 03/01/2008

I wanted to take a minute to wish much success to the new President of the Campbell Chamber of Commerce, Art Low.  While Art has held this post before, he takes over after Carl San Miguel held the position for the past 4 year. I have no doubt he will continue to improve the Chamber's position in this great community.The Chamber has been an asset to the community for over 100 years now. The Chamber is a vital part of the economic growth to any region, here in Campbell that is no different.  I know Art will be a strong and influential leader and his devotion to the city's success is surpassed by none.If you are not sure what the Chamber is about feel free to check out the website and become a part of the solution...... http://www.campbellchamber.com/ 02/28/2008

  I'm not sure if they're serving green beer, but I can tell you the atmosphere at Katie Bloom's is a blast. Great Irish food, lively entertaiment.  You may even be inclinded to do an Irish Jig.  Please drink sensiblyDid you know... The largest St. Patrick's Day parade is held in New York City and it is watched by 2 million spectators. The St. Patrick's day parade was first held in New York City on 17 March, 1756 when Irish soldiers marched through the city. The national symbol of Ireland is the Celtic harp, not the shamrock. The original Guinness Brewery in Dublin has a 9,000 year lease on it's property, at a perpetual rate of 45 Irish pounds per year. 02/26/2008

It's almost here!  What you say? The Downtown Campbell's 11th Annual Bunnies & Bonnets Parade at 12pm and the Old Fashioned Kids' Fair following the parade, 1pm-3pm!The parade, beginning at 12pm, will feature marching bands, baton dancers, classic cars and more. It's a wonderful Campbell tradition the entire family can enjoy! It will start at the east end of Downtown, by the railroad tracks, and run along Campbell Avenue to Third Street, and will be held rain or shine. But that's only the start of all the fun! Following the parade, around 1pm, an old fashioned fair for children will be held on South First Street between Campbell Avenue and Orchard City Drive. There will be live music and free games for all the kids.If your group would like to participate in this year's parade, please do... 02/26/2008

We have a local event called the Early Settlers Day.  It's when Campbell residents have gathered to celebrate Early Settlers' Day (formally Old Settlers' day). The event began in 1892, as a way for neighboring farmers and friends to spend time together. The event has the distinction of being known as the second oldest continuous public celebration in California, the oldest being the Tournament of Roses Parade in Pasadena.  It started out as a picnic lunch and patriotic flag-raising celebration on July 4, 1892, and then festive floats and marching band parades from 1939 to the late 1960s were added.  It became a very popular event. The parade had numerous floats representing businesses and organizations like SunSweet--the dried fruit company, Future Farmers of America and the Red Cross. ... 02/24/2008

 Blendz was selected as 2007 Business of the year by the Campbell Chamber of Commerce. Matt Phipps, president and CEO of the business has grown his stores to a total of 15 locations in various stages.  He currently has 15 employees in his Campbell location alone.I've personally worked with Matt on several fundraising committees.  Matt is always willing to help with any request large or small when it's for a good cause.  Blendz is a strong supporter for Campbell's Relay for Life event held in July. Way to go Matt Phipps and Blendz! 02/24/2008

 Don't miss the 30th Anniversary of the Campbell Higland Games! We always have a great time when we attend.  You won't want to miss this one...Watch The Caber Toss and other Heavy Athletics Listen to Pipe Bands and Celtic Music Enjoy the Highland & Scottish Country Dancers Watch the Old World Sports of Shinty & Rugby Shop for Celtic and Scottish Crafts, Clothing and Souvenirs Special Children's Area, Clans Area for the Wee'uns Learn about Scottish Traditions & History in the Clans and Living History areas Partake in Scottish-Style Food & Drink 02/23/2008

 Come join us and make the City of Campbell an even better place to live!Campbell is a great place to spend your time. We are a fairly small community with a quaint Historical Downtown.  The City of Campbell is proud of its annual community celebrations and special events. Some events require hundreds of volunteers to ensure success. For example, the Carol of Lights Celebration in December includes a community parade, fee events such as a snow area for kids to play in, and several jumpy houses. This celebration relies heavily on volunteers and donors to make it a success. Why would you want to volunteer?Interested in helping others? New to the area? Looking to share your skills and talents? Want to make a difference in your community? One of the hardest parts of volunteering can be find... 02/23/2008

  The economic stimulus package proposed by the government today will do something that the real estate industry in California has been fighting for many years.  The conforming loan will finally rise from its current $417,000 to a more accommodating $729,000.  Without getting into an overly complicated explanation, it simply means that conforming loans will cost the average home buyer less money to borrow than non-conforming or jumbo loans.    Typically, home buyers borrow 80% and come up with 20% as down payment to avoid PMI (private mortgage insurance).  In Santa Clara County, where the median home is over $800,000, this means you will not have to come up with the difference between $417,000 and the purchase price.  This means if you don’t have equity built up from a previous home, m... 01/24/2008

I have reviewed the November MLS statistics for Condominiums & Townhomes in Campbell, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto 12/14/2007

I have reviewed the November MLS statistics for Single Family Homes in Campbell, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto 12/13/2007

What are the numbers telling us about the market?  Considering what is happening with the County as a whole and other areas within our County, Campbell is performing relatively well in this market.  (4.9 months  vs. 9.2 months for the County).   Activity since September has been very slow with sales activity dropping as buyers sit and wait to hear market reaction to the banking sector and unsold inventory increasing.    According to NAR, a 6 months or great inventory means we are in a buyer's market; Campbell is not quite there (only 4.9 months of unsold) but given the trend in the past few months and the traditional inactivity during the coming Holiday season, it seems likely the rate of unsold inventory will continue or get worse until the end of the year.       Single Family Residenc... 11/17/2007

I have reviewed the October MLS statistics for Condominiums & Townhomes in Campbell, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto 11/12/2007

I have reviewed the October MLS statistics for Single Family Homes in Campbell, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto 11/12/2007

As a Realtor, this is perhaps the question most frequently asked of me.  Someone asked me this at a friend's BBQ over this weekend.  I had to tell him: "it depends on the specific market, but properties are not moving as quickly as they did the same time last year but prices are not falling as people would expect" was my response. To illustrate this point (and perhaps to give him some supporting data now), here are two areas (Campbell and Cupertino) and how they have been doing recently.    Campbell  If we look at $/square feet, we see that in Campbell, it remained pretty consistent (Sept 07 @ $481; Sept 06 @ $480 and Sept 05 @ $479).  So price has not really had much of an impact, even with all of this brouhaha about the sub-prime market.        However, things are a bit different in ... 11/04/2007

I have reviewed the September MLS statistics for Single Family Homes in Campbell, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto 10/09/2007

I have reviewed the September MLS statistics for Condominiums & Townhomes in Campbell, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto 10/09/2007

  First time home buyers and low income families are suffering the most during this period of credit crunch we are currently experiencing.   With some people are having more difficulty now getting loans or down payments to purchase their dream homes, I thought it might be helpful to provide a list of various housing assistance and other loan programs that I am aware of in local cities.    The City of San Jose has different programs, but perhaps the most notable one is the assistance for teachers program.    The City of Campbell has a first time home buyer assistance program.   The City of Santa Clara has a similar program.   The City of Sunnyvale has several assistance programs.   The City of San Mateo has a first time home buyer assistance program.   The City of Menlo Park has PAL.   ... 09/20/2007