We will be holding open this weekend:

10390 Moretti Drive, Cupertino - Saturday, 7/25 from 1-4 pm
18871 Tuggle Avenue, Cupertino - Sunday, 7/26 from 1-4 pm

Stop by to see this showplace Cupertino home! We'll be holding it open from 1 to 4 pm on Saturday, July 18 and Sunday, July 19.

Some quick details:

– 11-Year-New 6 Bedroom, 4 Bath Home (3 Bedrooms, 2 Bathrooms Downstairs; 3 Bedrooms, 2 Bathrooms Upstairs)
– Expansive Formal Foyer with Custom Marble Floor
– Formal Living Room/Dining Room with High Ceilings & Exotic Hardwood Floor
– Elegant Kitchen with Marble Floor, Maple Cabinets, Granite Counters, New Stainless Steel Appliances & Large Pantry
– Ground-Floor In-Law or Guest Suite with Private Entrance
– Second Downstairs Bedroom with Private Entrance & Double Closets (possible second in-law suite—plumbed for bath in closet)

For more info visit our real estate site. If you'd like to preview the virtual tour, click here.

It appears lenders are implementing a new policy that will affect "flipped" homes. While there is money to be made fixing up REOs and reselling them, there may be less money made if you can't sell them immediately. Why? The income of house flipping is typically based on speed. The faster you can flip it and unload it, the more you profit.

So enter the latest fly in the ointment: lenders are beginning to refuse to loan on a property that hasn't been off the market for six months.

As it is, most REOs aren't in the best condition, so often the purchase is made with cash. And now that the house is rehabbed and will qualify for a loan…..well….HUMMM.

Buyers, do some research on your prospective purchase first and check with your lender on their policies!

This is your dream home! Effectively rebuilt in 1995, this stunning 3/3 is one-of-a-kind! Open floor plan is perfect for entertaining, with beautiful wood floors throughout! Spacious family room features vaulted ceiling, wet bar & pass through to gourmet kitchen with cherry cabinets, stainless appliances, granite counters & wine storage. Formal dining room with built-in mirrored hutch with marble counters, wood stove insert with marble face, plus view of the yard through the bay window. HUGE master suite has space for office, library or nursery, gas fireplace, 3 walk-in closets, luxury bath with sunken tub, stall shower & his & hers pedestal sinks. Private, landscaped grounds give you the feel of a country estate with paver walkways, breakfast patio, gazebo with hot tub, brick planter beds, water feature, mature trees & colorful shrubs & landscape lighting. Excellent Cupertino schools, including Monte Vista High School.

For more info on this home, click here to go to our real estate site.

For a preview of the inside, click here to see the virtual tour.

Help! The house I'm selling will close escrow before the house I'm buying! It wasn't supposed to be this way, but my loan has been taking forever and now I can't close escrow when planned. What can I do? I need to be moved out by the time my sale closes!

You have several options.

Step 1 - See if your buyer can delay the close of escrow until after your purchase closes. Due to rate locks and terms, this may not be an option, but it's the simplest.

Step 2 - Ask if you can stay in your sale until your purchase closes. This is called a "rent back" agreement. Usually the buyer will request that daily rent be paid at a flat rate or amount equal to their PITI (mortgage payment including taxes, insurance, and HOA fees, if applicable). This option is convenient if you expect the delay to be minor. Most buyers who purchase with intent to occupy must move in at or shortly after close of escrow, so a two- to three-month rent back is probably not going to fly.

Step 3 - See if you can move into your purchase before close of escrow. This will be a similar situation as Step 2, just in reverse. The benefit is, of course, that once you move, you can settle

Step 4 - Secure temporary housing at a Stay America or other "hotel" or short-term apartment rental. It's not fun to move twice, but neither party (your buyer or your seller) is required to let you stay or move in to a home you don't own. There can be reprecussions to either "rent back" situation, making the property owners nervous about what ifs (what if you can't close escrow, what if you don't move out on time and THEY have no place to go).

TIP - NEVER, NEVER, NEVER allow someone to stay in or rent your home without a legal rental agreement in place.