Archive for the ‘Market Area’ Category

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What’s New in Los Altos?

By Dawn Thomas | October 9th, 2009 0 Comments

Silicon-Valley-And-Beyond-Presents-New-Homes-In-Los-Altos-CABuyers often contact us – looking for a new home.  With the limited land available in Silicon Valley – most folks start off with a home that could be 30, 40, or even 50 or more years old.  And even though – these older homes might be extensively remodeled and in wonderful condition – the dream of owning a brand new – never lived in – home remains.

In Los Altos – there are approximately 10,000 homes and the median age of Los Altos homes on the market is currently 47 years.  So what’s new in Los Altos?   What is available on the market that is brand new?

Currently – there are 11 new homes on the market.

Here’s the range of new single family homes in Los Altos -

High End: A brand new home with over 6700 sq feet of living space – 6 bedrooms, 4+ bathrooms, a wine cellar, and full basement on a 14,000+ sq ft lot.  List price:  $4,995,000.

Low End: A brand new home with 4000 square feet of living space – 4 bedrooms, 2 ½ bathrooms, and a basement on a 7000 sq foot lot.  This home is located on a smaller corner lot on the edge of a busy street.  On a larger lot on a quieter street – I think this home would sell for significantly more than its current list price of $1,599,000.

Just the Dirt - Note that there is one more brand new “single family” home listed for sale in Los Altos for the bargain price of only $998,888.   On closer inspection – though – it turns out that this home is actually just a nice piece of dirt.  It’s a 6750 square foot lot with approved plans and permits for a 4 bedroom, 2 ½ bath home.   You supply the general contractor, materials, labor and construction budget to build your new dream home.

The median new home on the market in Los Altos is listed for $3.2 million and features 5 bedrooms and 4+ bathrooms.  It has 3557 sq feet of living space on a lot that is approximately a quarter acre.    The spec builders in Los Altos are making these new houses “big” with lots of amenities like

  • wine cellars, outdoor kitchens and dedicated theater rooms
  • basement “suites” for the extended family (a place for your teenagers)
  • decadent master suites with huge master baths and walk-in closets bigger than my first apartment
  • great rooms combining a gourmet kitchen, walk-in pantry and family room
  • dedicated offices with built in bookcases and enough high tech wiring to make your favorite geek grin

In Los Altos, I expect to see a trend in the coming years towards slightly smaller single-level homes with an ongoing emphasis on special amenities and high end finishes.   We need our toys.

If you’re not quite ready to buy or build your brand new dream home in Los Altos, here’s a market snapshot of the overall Los Altos real estate market for single family homes:

Market Snapshot:
All  Los Altos CA Single Family Homes
As of October 5, 2009
Median List Price $1,950,000
Average List Price $2,241,075
Least Expensive Listing $998,888
Most Expensive Listing $4,995,000
Asking Price per Sq. Foot $695
Average Days on Market 123
Total Single Family Homes on Market 78
Median Home Size (sq ft) 2915
Median Lot Size (acre) 0.25- 0.50
Median Number of Bedrooms 4.0
Median Number of Bathrooms 3.0
Median Age 47
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Hot or Not? Silicon Valley Market Trends

By Dawn Thomas | September 25th, 2009 0 Comments

Hot or not?  How is the real estate market these days in Silicon Valley?  Here’s the latest snapshot for the West Valley.

One closely monitored real estate measure is a market’s “inventory” – the number of months it would take to sell everything that is currently on the market.    The “heat” of a real estate market is often described as:

  • Cold – 6 or more months of inventory (a “buyer’s market)
  • Neutral – 3 to 6 months of inventory  (a “balanced” market)
  • Hot – less than 3 months of inventory (a “seller’s” market)

Based on these definitions – it looks like the market is warming up in Silicon Valley!

Silicon Valley Market Snapshot (as of September 1, 2009)


City
# Active
on Market
 #
Pending
Sales		 #
Closed
Sales		 Months
Supply
(Inventory)		 Average
Sales
Price		 Sales Price vs.
List Price
(%)
Santa Clara 76 128 56 1.12 $609,054 98%
San Jose 1110 1997 605 1.17 $540,550 96%
Sunnyvale 107 98 66 1.60 $708,832 96%
Cupertino 105 52 37 2.19 $1,161,895 95%
Campbell 119 79 37 2.16 $670,612 96%
Willow Glen 184 119 55 2.45 $769,212 92%
Mountain View 60 39 20 1.88 $879,950 95%
Palo Alto 91 54 29 2.07 $1,483,068 91%
Los Altos 78 32 27 2.36 $1,787,086 92%
Saratoga 143 41 31 4.33 $1,598,459 94%
Los Gatos 188 48 33 5.22 $1,431,736 87%
Los Altos Hills 65 17 4 4.33 $2,238,750 96%

Santa Clara County Totals

2398

2987

1043

1.52

$703,160

95%

Call us for a more detailed analysis of real estate market conditions in your neighborhood in Silicon Valley!

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Top Ten Reasons To Love Palo Alto

By Marcy Moyer | September 21st, 2009 0 Comments

pizzamyheart

1. Schools, Schools, Schools!

Palo Alto has some of the greatest schools in the country. Whether your kid is seven or seventeen, going to school in Palo Alto guarantees access to incredible academic resources and enrichment programs.

Gunn High School is renowned for its competitive academics (and award-winning robotics team!) They send over twenty graduates a year to college right around the corner at Stanford University.

Palo Alto Children’s Theatre sponsors outreach programs in district elementary, middle, and high schools.

First-rate music programs are available at every turn, and choice programs like teacher-directed learning at Hoover, conceptual learning at Ohlone, and Connections at JLS are always options for parents interested in exploring a wide range of learning possibilities for their children.

2. Rolling Foothills, Open Spaces, Artfully Landscaped Public Gardens, Jasmine Flowers

Palo Alto is a community that treasures its trees and open spaces. The city is classified as an urban forest, and Palo Alto stays true to that description with 34 city parks and almost 4,000 acres of wildlife preserves. A local commitment to keeping businesses “green” ensures a healthy environment, as does a requirement forcing all new buildings to adhere to strict environmental codes. There’s also a Zero Waste Initiative and a dedication to alternative transportation.

3. Calling All Bookworms! Libraries in Palo Alto are truly exemplary.

Creativity blossoms during the interactive story-telling programs at the Children’s Library, and annual summer reading programs keep pages turning. Visits from famous writers dot the library’s schedule. Online programs offer opportunities to learn a new language or to survey newspapers from other countries. Libraries here are a community hallmark and a great enrichment resource.

4. Nationally Acclaimed Theaters

Catch the world premiere of an original play or a Shakespeare staple at TheatreWorks, the best repertory theatre in the Bay Area.

The current season includes the Pulitzer-Prize winning drama Doubt, August Wilson’s Radio Golf, and beloved musical Grey Gardens. Local theatre company the Palo Alto Players mount yearly productions in case you exhaust the shows at TheatreWorks.

The Palo Alto Children’s Theatre gives kids a place to test their acting chops.

5. Easy Access to San Francisco and San Jose

Two nearby CalTrain stops make getting to San Francisco, San Jose, and other Northern California locations a snap.

6. Red Mango Yogurt! Enough said.

If you’ve never tasted Red Mango’s creamy froyo perfection laced with your choice of mango, kiwi, strawberry, blueberry, coconut, blackberry, raspberry, chocolate chips, almonds, or basically any other delicious topping imaginable–that’s reason enough to move to Palo Alto. Or at least visit.

7. University and California Avenues

Both avenues embody Palo Alto’s quaint downtown appeal–personalized local shops and restaurants are nestled next to the Apple Store on University, and at night the thriving bar scene makes this area a prime destination for coeds and graduates.

Word-class Indian, Chinese, Thai, Mediterranean, and Italian restaurants are among the many dining choices.

8. Architecture.

Diverse housing styles make Palo Alto visually appealing. New homes with cutting-edge design line blocks alongside cottages, ranch homes, Eichlers, Tudors, and Spanish Style houses.

9. The Baylands.

The largest tract of undisturbed marshland remaining in the San Francisco Bay is hemmed in by Mountain View and East Palo Alto. The Baylands encompass 1940 acres of unique tidal and freshwater habitats. The best bird watching in the world is done right here. Wildlife observation platforms and picnic areas with barbecues make this spot a family favorite.

10. Locally Sustained Farmers Markets.

From mid-May through mid-December farmers markets downtown and on California Avenue are open every Saturday from 8AM to 12PM.

Local vendors offer a wide array of fresh produce and specialty items like grass-fed beef, artisan cheese, Bay Area wines, California-grown bananas, mangoes, and avocados. Local musicians provide a relaxing atmosphere for browsing samplings from nearby ranches and farms.

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San Jose Makes Effort to Become Completely Energy Independent

By Theresa Wellman | September 8th, 2009 0 Comments

San Jose Councilman talks about San Jose’s plans for becoming energy independent.

Led by Mayor Chuck Reed, San Jose, CA is working toward a 15-year plan to Go Green and become energy independent with the design to also grow the local economy in the process. The unique plan is focused on three main elements: Clean Tech Innovation, Sustainability, and Green Mobility.

San Jose’s Green Vision includes:

1. increasing trail connectivity for alternate transportation

2. converting all public fleet vehicles to alternate fuel

3. planting 100,000 new trees

4. converting all street lights to zero-emission lighting

5. recycling or reusing 100% of our waste water.

6. getting 100% of it’s power from renewable sources

7. divert waste from our landfills

8. adopt a plan for sustainable development

One key challenge the mayor set forth, is for local solar companies to come up with creative financing so San Jose residents can install photovoltaic systems on their homes. The intention is obvious; to help the local businesses grow and decrease energy consumption in San Jose’s neighborhoods. The mayor even put solar cells on his own home just this past month.

Local students at Santa Clara University and California College of the Arts are creating excitement about green and sustainable building too by building their very own Refract House, a Zero-Energy Home. It is obvious this topic is on the top of the minds of tomorrow’s leaders, so it is great to see our local leadership today making goals and progress toward a green and more sustainable future as well.

Green is not just a fad, it’s a new way of living that we are seeing more and more apparent in the homes we sell in Silicon Valley. Energy consumption and sustainable materials are a concern for many of my clients and friends and family.

To learn more about green living in a home you are looking to buy or sell, talk to a certified EcoBroker.

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Where in the World is Holiday Lake Estates?

By Ralph Chellino | August 31st, 2009 1 Comment

lake-best

Located in the east foothills above Lake Anderson, in Morgan Hill, CA lies a community like none other in Santa Clara County.  Holiday Lake Estates consists of just over 500 custom homes each situated on approximately ½ to 1 acre.  Most homes in Holiday are late 70’s vintage however with many homeowners updating and remodeling as of late, Holiday Lake Estates is taking on a new fresh look! Many newer customs have been built in the past decade as well.

Holiday homes are situated in a wooded riparian setting, with many homes enjoying lake frontage. Most homes boast grand views of Lake Anderson and the foothills that one can almost reach out and touch!

Holiday enjoys great community spirit as well. They share community events that range from summertime “Movies in the Meadow” to the annual picnic. Walking, jogging, and biking are daily events in Holiday Lake Estates.

Take Highway 101 to East Dunne Avenue exit – head east and follow the signs to Lake Anderson and enter this wonderful magical place just through the stone gates bearing its namesake.

“Why didn’t I know about this place before?” might occur to you as you drive through the private roads that amble through the oak groves. Oh, be careful of the wildlife because deer, quail and turkeys abound!

Who knows you might even run into Ralph, a resident for over thirty-five years! Why move when every day is a holiday!

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Shadow Inventory of Foreclosed Homes-Fact or Fiction?

By Russ Boyd | August 28th, 2009 0 Comments

You may have heard media stories of a so called “shadow inventory” of foreclosed homes that banks are holding off the market. According to a story in the San Francisco Chronicle, Rick Sharga, vice president of RealtyTrac, which compiles nationwide statistics on foreclosures said, “We believe there are in the neighborhood of 600,000 properties nationwide that banks have repossessed but not put on the market.” He went on to say, “California probably represents 80,000 of those homes.”
The story suggests that there will soon be a torrent of bank owned homes flooding the market. I’m not here to second guess the data reported in the Chronicle article or the data compiled by RealtyTrac, however, I continually marvel at how media stories differ from everyday life experience. In the Bay Area, the inventory of homes for sale has been decreasing for many months and at the same time the number of sales has increased as has the median price.
According to bay area sales activity, in San Mateo County, the median price is up for the seventh month in a row, the number of homes for sale is down 25% from one year ago and the number of days on the market average down to its lowest point since September of ‘08.
In Santa Clara County, the median price is up for the sixth month in a row, the number of homes for sale is down 40% from one year ago and the number of days on the market average is down to its lowest point since March.
For Alameda County, the median price is trending up since the low in March, the number of homes for sale is down 49% from one year ago and the number of days on the market is down to its lowest point in a year.
In Contra Costa County, the median price is up for the sixth month in a row, the number of homes for sale is down 51% from one year ago and the number of days on the market is at its lowest point in a year.
A basic market fundamental is supply and demand. Keep in mind that a market in balance is considered a six month supply of homes for sale. For the four counties above, the highest is San Mateo County with 2.75 month of inventory and the low is Contra Costa County with 1.75%.
Shadow inventory or not, I can confidentially report that there is every indication that what we need in the Bay Area is more inventory. Multiple offers are common and, although qualifying for a loan takes, well, qualifications, there appear to be plenty of qualified buyers eager to buy in the Bay Area.

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Intero lists Sunset Magazine’s Dream Kitchen of the West home

By Teressa Francis | August 17th, 2009 1 Comment

dream-kitchen1Newly-built home in San Jose’s Rose Garden neighborhood showcases the best in Western and green living

We are excited to announced that Intero was chosen as the listing brokerage for Sunset magazine’s 2009 Dream Kitchen of the West home. The home, located in the Rose Garden neighborhood of San Jose, was built by DeMattei Construction, a leading builder of fine homes in Silicon Valley including five Sunset Magazine Idea Houses. The dream kitchen was designed by famous New York City and San Francisco designer/architect Cass Calder Smith.

The creation of the Dream Kitchen of the West was documented on a special section of the Sunset magazine website located at http://dreamkitchen.sunset.com. The completed kitchen will be featured in the October issue of Sunset Magazine.

“We list many extraordinary and unique properties in Silicon Valley, but it is a true privilege to bring this home to market,” said Gino Blefari, CEO of Intero Real Estate Services. “Exceeding the expectations of our clients is always first and foremost. Intero’s out of the box approach to marketing our listings adds to our level of sales success.”

The 3,200 square foot home features five bedrooms and four baths. Constructed with green building standards in mind, this home features: HEPA filtration, cathedralized insulation, bamboo counters, recycled glass tiles and Low-E Anderson windows throughout.

The Intero listing agents are Leslie Heinrichs, Ian Humphries and Valerie Mein. More information on the Sunset Dream Kitchen of the West home can be found on their website.

Take a video tour of the completed Dream Kitchen of the West with builder Mark De Mattei.

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A Night Out with the Kids in Los Altos

By Dawn Thomas | August 14th, 2009 0 Comments

As summer starts to wind down – check out Friday Movie Nights in Los Altos.  Enjoy fun (and free!) movies under the stars in the Village!   The movie schedule is:

•    You already missed “Back to the Future” which showed last week!
•    August 14 – Kung Fu Panda
•    August 21 – Tale of Despereaux
•    August 28 – Wizard of Oz (Dorothy, I don’t think we’re in Kansas anymore!)

If you have ever attended a Los Altos event like this – you know that securing a primo viewing spot is a competitive event!   Come early & stake your claim.    The movies are shown on Main Street in downtown Los Altos at the intersection with 3rd Street.   Main Street is closed starting at 5:30 p.m. and you can start setting up your family’s movie home base at 6 p.m.  Think blankets, chairs, sleeping bags and picnics!

The movies start at 8:30 p.m. – and until then the kids will enjoy face painting, balloon artists and bouncy houses.   If you are looking for a great picnic ideas – consider

Enjoy your last weeks of summer in Los Altos!   Race you to the bouncy house – last one there is a rotten egg!

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Hollister gives you a fairytale escape

By Kristen Para | August 13th, 2009 0 Comments

moviesunderthestarsThis summer Hollister, CA, a small family town about 45 minutes south of San Jose, has been filled with many unforgettable family events such as the Rodeo and Farmers Markets, but we even have some more adventures to wrap up the summer sun.  The Hollister Downtown Association has funded the request for Movies Under the Stars which puts on free weekly outdoor movies on the grass area near Fourth and San Benito Street.  Do not miss the last three movies coming up:

The great movie picks and highly advertised event attracts people of all ages to snuggle up on blankets and lounge chairs at dusk on Thursdays.  The retail community has really gotten involved in the family event by donating raffle items and providing concession stands to make the movie much more enjoyable.  While Hollister has been faced with a lot of foreclosures and short sale, people are still coming together with their families and enjoying the ones they love.  Sometimes we all must take a break from our hectic and stressful lives and get lost in a fairytale movie.

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Ten Reasons To Love Menlo Park

By Marcy Moyer | August 12th, 2009 2 Comments

1. Schools, Schools, Schools! Menlo Park, like Palo Alto and Mountain View, have some really outstanding schools. Students in this district are consistently high performers and many gain admission to top universities after high school.  There are two public elementary school districts:  Menlo Park and Las Lomitas. As well as many private schools which include: Trinity, Phillips Brooks, St. Raymond, St. Joseph’s (part of the Sacred Heart Schools), and Peninsula School.

2. Burgess Park. located next the Civic Center, this park features a little league baseball field, a regulation baseball field, an open play field, lighted tennis courts, a soccer field, picnic areas, and children’s playgrounds. The Burgess pool, rec center, sports center, and skate park are adjacent to the main park area. There’s also a lovely and relaxing duck pond here that’s a great place to relax and read a book.

3. Huge Library. Menlo’s library (a quick walk from Burgess Park) is one of the town’s focal points, especially for children and families. My two sons always enjoyed the Summer Reading Programs, and Storytimes are another free, entertaining, educational, and kid-approved favorite. Professional storytellers spin their magic at scheduled times throughout the week. On certain days, the stories cater to younger or older kids. The online live homework help program is one of the library’s new services. It’s totally free, and many of the tutors also speak Spanish.

4. Annual Connoisseurs’ Marketplace. This is the summer festival for summer festival lovers – and one of the best events in the area. There’s hardly anything more enjoyable than wandering a tree-lined street while local bands play during this popular festival of visual, performing, and culinary arts. It’s always the third weekend of July on Santa Cruz Avenue. This year, Organic Alley will highlight samplings of the finest organic food the area offers. Old favorites like the cooking demos and the kid’s fun zone will be up and running. The festival is always as eco-friendly as possible, and it embodies community values and the sense of civic responsibility cherished in Menlo Park and the Bay Area.

5. The Guild. This independent movie theatre is the place for real film lovers. Hard-to-find independent and foreign films play here, and the space itself has art-deco touches everywhere and velvet curtains surrounding the movie screens. Plus, it’s free refills on Mighty Leaf Tea AND all you can drink coffee (two great touches that make movie-going a lot less draining on your wallet and more pleasurable.) This is not your basic space-age blockbuster twelve screen Cinemax, and sometimes you have to put up with crackly sound or finicky seats. Nevertheless I’ve never had a bad experience here–the movies are always thought provoking, and sometimes the manager thanks you personally for coming.

6. Santa Cruz Avenue. This is the main drag of Menlo Park, where great shopping and world-class restaurants are crammed in side by side. You have endless options here – craft shops, clothing boutiques, interior design stores, bistros – literally anything you need. During lunch time it’s crawling with business professionals eating at sidewalk tables, and there are always shoppers resting on benches or teenagers hanging out in the coffee shops.

7. Every Kind of Home. Wonderful housing options here as well.  New homes, green homes on Willow, ranch homes on huge lots, condos, town homes, and tons of rentals near downtown ensure you’ll find exactly what you’re looking for in Menlo Park when it comes to your living needs.

8. Caltrain Station. You can get anywhere from here! You can also get here from anywhere on Santa Cruz Avenue, which is the biggest plus of all. This station is literally steps from Cafe Barrone and Kepler’s Books, so if you arrive a little early you can always grab a magazine or a cup of coffee to ease your wait.

9. Kepler’s Books. When the final Harry Potter book came out last summer, Kepler’s threw the bash of the century. There was a brass band, tents selling magic charms, Hogwart’s culinary staples, and a sorting hat. Kids of all ages wandered around in robes with magic wands tucked under their arms, and it seemed like everyone from the Bay Area decided Kepler’s was the place to snag this  seventh wonder. My favorite touch was the keepsake ticket handed out at the beginning. You paid for the ticket, and traded the ticket in for the book. The line of Potter fans snaked out the door and around the corner, and the Kepler’s staff did everything possible to make sure the night went smoothly. This place has a great history, and is one of the last independent bookstores standing in the Menlo Park/Palo Alto area. If they don’t have something in stock, they’re always happy to order it for you.

10. Menlo Medical Clinic. The staff here is friendly and accommodating, and the clinic gives off a good – we actually care about your health vibe – instead of that sterile, impersonal feeling. The lab staff is well trained, and it’s very clean. The doctors in this group are among the best in their fields, and everyone in the facility is professional and helpful. MMC is affiliated with Stanford Hospital, so coming here with any illness or ailment guarantees you’ll receive the best medical attention possible.

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