Posts Tagged ‘Intero’

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The Intero Foundation donates over $200,000 in 2011 to organizations that support children in need

By Teressa Francis | November 28th, 2011 0 Comments

Intero Real Estate Services Agent’s and Employees Contribute Back

Silicon Valley, California (November 28, 2011) – The Intero Foundation (www.interofoundation.org), a non-profit organization, founded by Intero Real Estate Services founders in 2002 to benefit children in need, announced that it has donated over $200,000 to 20 charities throughout the San Francisco Bay Area in 2011 as part of its mission to positively impact the growth and well being of children in our communities.

John Thompson, Intero’s Executive Vice President explains, “Agents donate a portion of their commission per transaction. As a company, this commitment makes a big statement. Therefore, when you drive by an Intero for sale sign or work with an Intero Realtor, feel good that at risk children in the community will be served and we thank each and every one of you for your support.”

“When Intero Real Estate Services was founded just nine years ago, its founders set out to create a company that was different. That difference would be based on values,” states Founder, President and CEO of Intero, Gino Blefari. “One of those values is Commitment. The Intero Foundation is our vehicle for expressing a meaningful and sustained commitment to our community.”

Intero Foundation CFO, Cathy Jackson adds, “The organizations we support may be smaller, but they have a huge impact on thousands of lives in the Bay Area. Unfortunately, they’re often over shadowed by the larger nonprofits that people are more aware of. For many of the organizations we give to, our donation makes up a large portion of their annual budget. They really rely on us for help in keeping their programs and services up and running.”

The Intero Foundation continues to impact the growth and well being of children and youth in the communities we serve. Empowered by Intero agents and employees, the Intero Foundation has given over $1.9 million in grants to nonprofit organizations that support children in need. In 2011 alone, over $200,000 was granted to organizations benefitting children in need.

Small Steps
Family Connections
Advocates for Children
Family Supportive Housing, Inc.
Just Read Centers
Rape Trauma Services
My New Red Shoes
Breakthrough Silicon Valley
Abilities United
Achieve Kids
JustMATH
At the Crossroads
CASA of San Mateo
SPARK
Pajama Program
Role Model Program
Reach Potential
Good Karma Bikes
CCPY
Turning Wheels for Kids

The Intero Foundation is funded, promoted and governed by Intero agents – each of whom are vested in the health of the communities in which they work and live. An executive committee, led by Intero President and CEO Gino Blefari, provides strategic guidance. All members of the Intero community – executives, staff and agents – donate their time to further the Foundation’s mission.

Intero and its agents have always believed in the importance of giving back to communities in which we serve, and 2011 was a perfect example of ‘paying it forward’.

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Intero Silver Creek Moving to NEW Prime Location

By Teressa Francis | September 28th, 2011 0 Comments

Canyon Creek Plaza, new home for Intero’s Silver Creek location

Cupertino, California – (September 28, 2011) – After many successful years, the Intero Silver Creek office is relocating to a new premier luxury location in the Canyon Creek Plaza, near the entrance of one of Silicon Valley’s hidden treasures – Silver Creek Country Club. All 56 superb agents from the existing office will transfer to this new location.

Canyon Creek Plaza is a community shopping center located in a highly trafficked area in the upscale Silver Creek Valley neighborhood. Silver Creek Valley is a region located in southeast San Jose, near the southern end of the city’s Evergreen neighborhood. It is home to the gated, famous Silver Creek Valley Country Club, the Ranch on Silver Creek and mostly consists of upscale residences. Many of the wealthiest Silicon Valley citizens reside here, not limited to television stars, web moguls, and various players for the San Francisco 49ers and San Jose Sharks.

“We are thrilled to be relocating our office to the Silver Creek Valley Country Club community,” said Robert Cruz, Vice President and Managing Officer of Intero Silver Creek. “This opportunity will bring our agents and their clients a trusted real estate source that is easily found and in a comfortable central location. Much like the Silver Creek community, Intero is a company of unwavering values, we’re committed to maintaining a culture of the highest integrity and excited to continue to do business in this thriving community.”

Intero Real Estate Services was founded in 2002 and became the fastest growing company in the history of real estate. Today, Intero is the #1 real estate company in Silicon Valley by market share as well as in the 2011 San Jose Mercury News  Reader’s Choice Awards and have extended their reach across the U.S. and around the globe.

Currently, Intero Real Estate Services has more than 60 offices serving four U.S. states; California, Colorado, Nevada and Texas and internationally in Shanghai, Hong Kong and London and over 2,000 agents. Intero also plans to further expand into the international market with offices scheduled to open in Malaysia, Beijing, Vietnam, Philippines, Netherlands and Turkey.

“While other companies have been forced to pull back in this market – cutting services and slashing budgets – we continue to innovate and embrace change,” concludes Intero President and CEO, Gino Blefari. “Robert Cruz has done a tremendous job with the Silver Creek branch and I expect our move will help better establish the Intero brand in the Silver Creek community as more consumers and agents gravitate to our company’s unique offerings.”

Intero Silver Creek
5609 & 5613 Silver Creek Valley Road
San Jose, CA 95138
408.574.5000

http://www.interorealestate.com/offices/silvercreek

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Grand Opening of Newest Location: Intero West Ave.

By Teressa Francis | September 23rd, 2011 0 Comments

Daniel Ciscomani and Katie Maxwell held the grand opening of their new Intero Real Estate Services office in Houston, Texas on September 22, 2011.

Intero President and CEO Gino Blefari explains, “Continuing to build on our global presence, this launch presents an incredible opportunity to further align Intero with internationally recognized U.S. markets.”

The Intero office in West Ave features the concept of the Intero Andare design, a smaller technology-rich and more eco-friendly space designed for today’s mobile REALTOR.

“We are honored to align with the Intero family of companies, a premier brand with an amazing story that is rapidly expanding domestically and internationally,” said Avanti CEO and President of Intero Houston, Daniel Ciscomani. “We are excited to introduce a fresh approach into the Houston market with innovative systems, training, technologies, and unmatched executive leadership.”

Welcome to the Intero family!

Below are some photos from the event:

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Intero Real Estate Services Launches Marketing Program for Indian Developers

By Teressa Francis | September 21st, 2011 0 Comments

Leading brokerage company reaches agreement with Myriad WPI Services Pvt. Ltd.

Cupertino, California – (September 21, 2011) – Intero International Franchise Services, LLC, announced that is has expanded its network in India through the developer marketing program with Myriad WPI Services Pvt. Ltd., an independent marketing and property consultancy agency.

Myriad WPI Services Pvt. Ltd. is an Investment Management company providing solutions to individuals, Corporations and high net worth investors (HNI’s). The promoters believe that each one of these segments requires a unique perspective and innovative approach in realizing their goals. The company offers four services: Advisory Services, Buyer Service, Seller Services, Realty Developer Services and Portfolio Management Services. Myriad WPI Services Pvt. Ltd. is committed to offering investors, buyers and other private institutional clients prompt solutions to their investment requirements.

Intero will collaborate with Myriad WPI Services Pvt. Ltd. on Intero International’s developer marketing program directly to Indian developers. The main objective of the program is to assist in marketing new development projects in India to overseas Indian investors (non-resident Indians).

As part of the agreement, Intero will collaborate with Myriad WPI Services Pvt. Ltd. to provide Indian developers and investors with knowledge and access to trusted international real estate professionals within the Intero global network. In addition, this collaboration will provide a promotional opportunity for developers to increase awareness and advertise directly to a targeted ethnic community. Intero offices in California and the new Intero office in Houston are eager to host these projects and connect with the NRI community. Joining together, both firms will create a platform to assist clients in the purchase of real estate property.

“This opportunity provides our clientele a simple and trustworthy solution to investing overseas,” says Ajay Khankhoje, Director of Myriad WPI Services Pvt. Ltd. “Likewise, we are pleased for the opportunity to showcase attractive property investments in India to Intero’s international community.”

Robert Moles, Chairman of Intero Real Estate explains, “With this alignment between Intero and Myriad WPI Services Pvt. Ltd., Indian developers will now have the ability to expand their exposure of developments with a leading U.S. property agency. The Intero brand’s strength in the US, particularly in California, make it the ideal partner to provide quality real estate investment opportunities to Indian investors.”

According to the Center for Immigration Studies in Washington D.C., about 300,000 Indian Americans work in technology firms in California’s Silicon Valley and the average income of Indian Americans in Silicon Valley is about $125,000 a year.

“This collaboration allows us to seek opportunities to expand abroad and represents Intero’s commitment to solidifying a global brand presence, a necessary element to thrive and innovate in a real estate business,” concludes Intero President and CEO Gino Blefari.

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Intero Insider: Housing and the Freelance Economy

By Gino Blefari | September 20th, 2011 0 Comments

Most of us in the real estate business understand what it’s like to be an independent contractor, aka freelancer – or as I often refer to it as “we eat what we kill.” The various challenges with getting a loan or line of credit are quite different when you’re in this type of employment situation. This has become an important issue in the housing market as millions more American workers move to independent or freelance status in a continuously tight job market.

Now is the time to be mindful of the challenges ahead. What happens when a self-employed individual tries to buy a home? He’s making decent money, has a sizeable down payment stashed, and is ready to jump in. But with extremely tight lending standards and non-traditional income, he faces a complicated battle.

Here are some tips for independent contractors looking to buy a home and for agents who have them as clients:

  1. The road is difficult, but not impossible: This is the first thing to keep in mind. As a contractor, you will have to prepare a lot more than a traditionally employed borrower. But this doesn’t mean you won’t get the loan. Brace yourself for a mountain of paperwork as lenders naturally are going to ask more questions about your source(s) of income, and you’ll need the paperwork to back up your claims.
  2. Highlight income stability: What lenders are looking for is proof that your income is and has been stable for a period of time. Basically, they can’t take a chance lending you money if you’ve not proven that you can consistently pay them back. Many mortgage brokers say to expect to have to show your earnings for the year-to-date when applying for a loan this fall. This goes with the point about income stability. They need to know that you’ll have steady income throughout the year, not just seasonally.
  3. Pay off other debts: All borrowers’ credit and debt situations are highly scrutinized these days. You’re going to help your case much more by coming to the loan with a lot less debt already on the books.
  4. Gather three years’ worth of tax returns: Even if you’ve only been self-employed for the past year, showing a few years’ worth of returns can help the lender see that you have been entrenched in your industry, and even give a view of what kind of salary you’ll likely fetch should you get a payroll job once again.
  5. Seek out local banks and credit unions: Don’t rule out larger lenders, but take some extra time to shop around at local banks and credit unions. These smaller operations are sometimes more willing to take the time to get you qualified.

The Freelance Economy is a new reality for post-recession America. But it shouldn’t stop those individuals who own their own business from buying homes. Freelancing is a legitimate way of making a living – you just have to expect a lot more hurdles when seeking a loan.

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Intero Insider: Can Refinancing Save the Day?

By Gino Blefari | September 13th, 2011 0 Comments

We haven’t heard much from President Obama this summer on the housing market – other than ideas for fixing the Fannie Mae/Freddie Mac problem. He’s certainly had a lot of other things to deal with. But he ended the silence in his speech on jobs last week when he said that he’s looking to broaden U.S. homeowners’ access to mortgage refinancing as a way to get more money back in their pockets.

This wasn’t terribly exciting to hear since we’ve already seen some pretty big failed attempts at “refinancing” away the housing problem. In fact, the real housing news in the President’s speech was the $447 billion jobs package itself. We all know that jobs are the real answer to cleaning up the national housing recession.

Still, Obama believes that by broadening refinancing, the average family can save more than $2,000 a year – a much-needed boost for many. In fact, with average rates on long-term fixed-rate mortgages at ridiculously low levels – 4.12% on a 30-year fixed last week – refinancing does seem like a great option for the economy. So, what is the problem? Why aren’t millions of people already refinancing their loans? Why does the government even need to create a special refinancing program?

The problem has been that even with rates as low as they are, many homeowners have been shut out of refinancing because they either have shoddy credit histories or owe more on their original mortgage than their home is worth. What the government is trying to do now is remove these and other barriers. White House officials said in news reports on the topic that the U.S. Treasury was in talks with Fannie Mae, Freddie Mac and the Federal Housing Finance Agency about ways to open up refinancing.

The problem with simply removing these barriers to refinancing is that it could cause investors in the mortgage market to lose billions of dollars. Some also say it could put Fannie and Freddie at greater financial risk. It will come down to weighing cost versus benefit: Will that extra $2,000 per year for the average homeowner be enough to save him? And is that worth turning off many more investors who will lose much more than that?

The administration hasn’t released any specifics of how a new refinancing program would work or how it would affect the mortgage industry. But they expect to begin releasing details over the next several weeks.

Refinancing is a great idea and a great privilege to those homeowners for whom it makes sense. But, at some point in this plan, I hope we see more scrutiny of the overall benefit of a government-supported program to help the overall housing economy. We have real problems in the national housing market that affect real people; I’d hate to see it continue to be just another political platform to stand on.

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Five Realtors Of Intero Named One Of America’s Top 1,000 Real Estate Professionals By The Wall Street Journal and REAL Trends

By Teressa Francis | September 13th, 2011 1 Comment

Local Realtors Had an Impressive Total on Transaction Volume on Their Way to Becoming One of Silicon Valley’s Top Professionals

CUPERTINO, SILICON VALLEY (September 13, 2011) – David Troyer, Dominic Nicoli, Minhua Jin, Efi Luzon and Eric Fischer-Colbrie of Intero Real Estate Services, Inc. were named one of America’s top real estate professionals by The Wall Street Journal and REAL Trends. They are now a member of the “The Thousand Top Real Estate Professionals,” a prestigious national awards ranking sponsored annually by the two respected publications. Troyer, Nicoli, Jin, Luzon and Fischer-Colbrie are now ranked in the top one half of 1 percent of the more than 1 million REALTORS® nationwide.

The Thousand Top Real Estate Professionals was announced on September 6, 2011 with four separate categories honoring the top 250 residential agents and agent teams for excellence in:

  • Individual Sales Professionals – Sales volume
  • Individual Sales Professionals – Transaction sides (in each real estate transaction, there are two sides that can be represented by a real estate agent: a buyer’s and a seller’s.)
  • Team Professionals – Sales Volume
  • Team Professionals – Transaction sides

“The best individual agents – including Troyer, Nicoli, Jin, Luzon and Fischer-Colbrie’s award-winning efforts – were nothing short of phenomenal considering the challenging real estate market,” said Steve Murray, founder of Denver-based publishing and communications company REAL Trends, which compiled the list. “Ironically, if you look at the top 250 in each category you will find that collectively, their sales volume and transaction sides held up quite nicely compared with the market as a whole.”

“Becoming a member of such an elite group as the “The Thousand Top Real Estate Professionals” is an incredible accomplishment in any market, but what David, Dominic, Minhua, Efi and Eric did during these challenging times is impressive on so many levels,” said Gino Blefari, President and CEO of Intero Real Estate Services. “Intero is very proud to have these five Intero agents be named to The Thousand. Their efforts topped 99.99 percent of the more than 1 million REALTORS nationwide.”

The four lists of the “The Thousand” can be found at:

http://realtrends.com/products/top-1000-sales-professionals/individual-sides

http://realtrends.com/products/top-1000-sales-professionals/individual-volume

http://realtrends.com/products/top-1000-sales-professionals/team-sides

http://realtrends.com/products/top-1000-sales-professionals/team-volume

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Intero Hong Kong Appoints U.S. Intero Real Estate Services Agents to Assist Investors Visiting Silicon Valley

By Teressa Francis | September 9th, 2011 0 Comments

Agents will attract investors from China and across the Pacific region to U.S. properties

Cupertino, California – (Sept 9, 2011) – Intero Hong Kong has appointed three Realtors from Intero Real Estate Services, corporately owned offices based out of Silicon Valley to be the U.S. contacts for investors from Hong Kong. Guru Toor from Intero Cupertino, Lisa Wendl, and Renuka Ahuja from Intero Los Altos, all are part of the international team and serve as Directors of Marketing and Sales.

“Intero was born in Silicon Valley, which is a crossroads of innovation for the entire Pacific Rim,” said Executive Vice President & Managing Officer of Intero Hong Kong John Thompson. “Guru, Lisa and Renuka’s primary mission is to provide one-stop services for mainland Chinese clients to fulfill their quests and purchase their new homes or investments in the United States.”

A number of Chinese investors are already waiting to take advantage of opportunities in U.S. and Bay Area real estate markets, particularly in California, where many Asians choose to buy given its geographical proximity to Asia, established Chinese community, favorable climate, and economic, educational and work opportunities. The Asia-Pacific region’s economic growth, high real estate prices and rising currencies relative to the U.S. dollar have created a lot of interest in U.S. properties

With Guru, Lisa and Renuka’s business connections and fundamental understanding of what the local Chinese buyers want, together they can attract investors from Hong Kong and across the Pacific region to U.S. properties. They’ll be working in capacity of business director in the areas of sales, marketing and business development. In addition they’ll be working in local marketing, sales, and business development for Far East clients

Guru Toor focuses on real estate investment. With a graduate degree in Management and a Masters in Strategies and Planning, he has a long experience in management and has a desire and penchant for working with international buyers. Currently he is working on a number of projects with international clients.

Lisa Wendel has 20 years experience with real estate investment and financing. She obtained an MBA in Finance from University of Illinois at Chicago and a BS in Economics from Fudan University in Shanghai. Lisa also works with several major U.S. based developers to promote developments in Shanghai.

With roots and past experience in the Silicon Valley tech industry, Renuka Ahuja brings years of experience in buying and selling Real Estate in the Bay area as well as in the luxury home developments. She takes an integrated approach and works diligently hands on selling and buying Real Estate for her clients.

Kenny Lo, General Manager of Intero Hong Kong adds, “I welcome such a high caliber group to join the Intero Hong Kong team. I am very pleased to have the opportunity to work with them closely on projects of Far East origin going forward.”

The continued growth of Asia’s economies, high asset prices, particularly in real estate, and rising currencies relative to the U.S. dollar, have made Asians significant buyers of U.S. real estate. According to The 2011 NAR Profile of International Home Buying Activity, the international market for U.S. residential property approaches $82 billion on an annual basis, of which more than $7 billion comes directly from China. This upward trend is likely to continue this year.

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Intero Insider: Study Spotlights Bay Area College Towns for Investing

By Gino Blefari | September 6th, 2011 0 Comments

While the real estate and economic news is often bleak these days – no new jobs in the latest national report, persistent foreclosures, softening values and slower sales – the reality is that now is a great time to take advantage of the lows. This is especially true for investors.

An interesting report from ZipRealty last week tackled an age-old question in real estate investing: Are college towns better investments for landlords? The study included data pulled for Berkeley compared with the East Bay in general, Palo Alto compared with the South Bay in general, and Cambridge, Mass., compared with Boston in general.

In each case, the college town proved to be a much better real estate bet. In Berkeley, home to the University of California, the median price-per-square foot for homes sold doubled that for the East Bay as a whole for almost two years. This is no big surprise to anyone who’s tried to buy a home in Berkeley over the last few years; the market has been just as fierce for the most part as that the rest of the country felt back in 2004.

In terms of market distribution, though, Berkeley showed more market-priced sales than distressed ones compared with the East Bay as a whole. While this shows stability, distressed sales are often the sweet spot investors need to really make waves.

In Palo Alto, home to Stanford University, the data showed a similar story. The median price-per-square foot for homes sold doubled that for the South Bay as a whole for almost two years. Palo Alto also had a much higher distribution of market-priced sales than distressed sales.

College towns can be great investments for the real estate-minded. A steady influx of young twentysomethings attending school makes for a steady supply of renters. These renters usually have financial support of some kind as well, making them reliable sources of income.

However, a university alone isn’t a great gauge of whether or not to invest in one town over another. Berkeley, for instance, is infamous for its restrictive rent stabilization laws, which can quickly become a landlord’s biggest nemesis. College towns are also much more transient than other towns – so that steady influx of potential renters also means constant turnover, which can eat into profits.

One other thing that may turn the “college towns are great places to invest” theory on its head is a way investing Warren Buffet lives by – the best investments are those that no one else is paying attention to. Buffet says (about stocks), “The time to get interested is when no one else is. You can’t buy what is popular and do well.”

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From luxury to bank-owned, a review of this summer’s real estate market

By Teressa Francis | August 30th, 2011 1 Comment

This Intero Insider – Video Series brings you Dominic Nicoli, one of our top real estate agents at Intero Real Estate Services from the Los Altos office. He speaks candidly with Intero COO Tom Tognoli and shares his insight and projections on today’s real estate market from luxury real estate to foreclosures – where we have been, where we are now, and where we are headed.

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