How's The Market?

The question consumers always ask real estate professionals is "how's the market?"  For a month or so, I have been telling my clients, friends, prospects - anyone who has asked me - that the market is "running hot and cold".  It's got a split personality. Some homes are flying off the market, and others are just sitting. The real answer? "It depends."

Today's San Jose Mercury News (March 31) runs a cover story with huge print and graphics, exclaiming, "Home Sales Run Hot, Cold". The online version of the article is titled In Silicon Valley, Real Estate Market Has Two Faces. It is typical that what we are seeing happening in the market gets reported about a month after the Realtors have noticed what's going on.

So what are these two situations, why are they different, and how can a buyer or seller take advantage of a market so weird?

The homes that are selling for top dollar tend to be in these categories: (1) in the northwest part of the valley (Palo Alto, Cupertino, etc.) , (2) completely fixed up (we are talking granite and high end appliances, A/C, newer windows, no significant structural repairs or updating needed),   (3) priced lower than recent sales.

Sellers are confused and when they read about multiple offers, they think they can put a home on the market that is priced high for recent sales and that doesn't have a lot of curb appeal or staging inside.

Generally, buyers want a turnkey home that is value-priced.

What to do? Sellers:  If your home isn't a "10", don't price it as if it were - it will just sit there (in any part of the valley).  Clean your home (and keep it clean for the duration of the listing - some sellers treat a home sale like a sprint and the place is only clean for the first two weeks after it goes on the market). Make the "right improvements" to your home. Realtors will gladly advise potential clients on the improvements which pay. Some don't!  When you are looking to market your home, whether it needs work or not, take a hard look at the competition - and price lower.  The value homes are the ones getting all the attention, and this is true in every part of the valley.

And buyers, what about you? If you see a good value, don't wait around - it could turn into multiple offers. Go into the market pre-approved and ready to move if you see the right home. Have a great Realtor, whose advice you trust, to assist you at each step of the way.

It's not a bad market.  It's just not 2000.

For personalized information & guidance, please call me: Mary Pope-Handy, Intero Real Estate Services, Los Gatos (Silicon Valley), 408 357-5760.

Photo Tour: College and Main

College and Main: A Photo Tour

Unmistakeably Los Gatos, the intersection of College and Main has both recognizeable design elements, such as the two-story "cats" which are the town's signature images, and also classic older architecture blended with new construction in a tasteful manner. The latter is a hallmark of the town's high value on character and history.

The Penthouse Apartments is the view to your left, with the two story image of Leo and Leona, the cat sculptures which are synonomous with Los Gatos itself. This four story building is the gateway of St. Joseph's Hill, home to beautiful houses, an entrance to a hiking park and open space preserve (St. Joseph's Hill Open Space Preserve), The Holy Names Sister's convent, retreat center and retirement home, and also, accross the street and up a long driveway, Sacred Heart, the California Jesuit's (Society of Jesus')  headquarters & retirement home  (and one time novitiate, founded in 1888) and the wonderful Testarossa Vineyards Tasting Room, located on Jesuit land. 

Just as there's a lot going on "up the hill", there's a lot going on at this intersection too!  (It is a three-way stop sign intersection and I must advise you to be very careful of cyclists - sometimes they are not as careful of all the activity as we might want them to be and I have seen many near-accidents here.)  We have a saying in Los Gatos, which is that if you have cash, you won't starve: there are a lot of restaurants here. One of my favorites is Tapestry, which is across the street from the Penthouse Apartments on College Avenue. The food is an ecclectic mix of fresh California style cuisine. The servers are friendly and there's usually no trouble parking nearby, as they have a shared lot plus street parking.

In the same little quad as Tapestry is the ancient Soda Works Building, which now houses a cigar shop.

Right next to Tapestry lies a little sandwich shop that I tried twice recently and really love: Caffe Siena. It is Italian-style with many delicious imported specialty foods and great entrees. It's also a great place to people-watch! The building itself is newer but just outside lies a lovely old stone wall that begs to be photographed.

On the other side of Main is one of my favorite dinner spots, I Gatti (not pictured), which is Italian for "The Cats".  If you are getting the impression that Los Gatos has a number of places with an Italian flair, you're right. But there are many other types of food too: Romanian, Thai, Viet Namese, Japanese, Mexican, American - and these are just the ones on the top of my head!

Testarossa Vineyards is a popular destination for people heading up the hill. It's quite scenic, starting with the long trek up the winding driveway, and then at the top there are beautiful valley views.  The tasting room itself is extremely inviting - it's spacious, comfortable, and nicely laid out. But best of all, the wine is truly delicious and the folks who work there are both knowledgeable and friendly. There are no pretentious airs, just genuine helpfulness and useful information. I'm always proud to bring our out-of-town visitors to the old novitiate for a little tasting.  It is a wonderful way to wrap up an afternoon of strolling and shopping - a calm oasis just steps from the business of this bustling town.  And perhaps one of the reasons I like it so much is that like much of Los Gatos, it is a classic mix of things to do...and places simply to relax and be.

Photographs by Mary Pope-Handy,
Los Gatos & Silicon Valley (San Jose area) Residential Real Estate Specialist and
Realtor, CRS, ABR, SRES, ASP, CNHS, RECS, E-Pro,
Intero Real Estate Services, 518 N. Santa Cruz Ave., Los Gatos, CA 95030
www.PopeHandy.com

. Please do not use without permission!

Highest & Best Use

Have you ever noticed the Verizon Building on Los Gatos Boulevard? It has an architectural style that screams "1960's" with apparently no windows facing the front but a strange sort of grille decorating the facade instead.  It backs into one edge of Blossom Manor (a neighborhood in Los Gatos - well, mostly in the county but with a Los Gatos mailing address - that was once apricot orchards).  Verizon, with its huge network (I'm assuming you've seen the ads), needed more space and wanted to do an expansion on the current site. The neighbors didn't agree that this was a good plan. The result: the Town of Los Gatos is going to buy the property from Verizon, for $3.2 million,  and it may well become the new police headquarters. I'll keep you posted!

No Prohibition in Los Gatos

Carrie Nation is probably turning over in her grave.

A strong advocate for the Women's Christian Temperance Movement, Carrie Nation was opposed to alcohol in a very big way. History has it that she attacked dozens of bars together with a band of praying & singing women and eventually wielded a a hatchet to make her point. In fact, in later years this seems to have become her "niche market" as her newletter was called "The Hatchet". Though jailed some 30 times, she paid her fines with lecture fees and  (believe it or not) the sales of small souvenier hatchets. 

I suppose it is true that "actions speak louder than words".  But it's also true that irony is one of the funniest forms of humor.

And so it is quite humorous indeed to most folks in Los Gatos that the town's most popular bar (and there's no shortage of them)  is named none other than "Carrie Nation's".  In case you don't know this colorful bit of history, the beveled glass in the main door portrays an ax.  (If nothing else, it's a conversation starter!)   Located at 8 North Santa Cruz Avenue (close to Main Street), Carrie Nation's is a fun place to stop in for a drink if you have a sense of humor and enjoy the old "fern bar" atmosphere.

Of course, I'm not saying that the folks who run the bar have a sense of humor themselves. Once, when my kids were small, we'd seen the Holiday Parade on a cold December morning and one of small our kids desperately needed to use a restroom. My office was too far down the street for practical purposes (that is, when the child says "I need to go" he or she usually means NOW). We went in the back door of Carrie Nation's, and zoomed down the stairs like folks on an urgent mission to the restrooms. There was no walking through the bar area or anything like that. When we emerged, two minutes later, there was a scowling employee waiting for us and quite ready to escort us out.  You'd have thought we had pick pocketed our way down the stairs.

All I could think of was that the dour disposition of the gal for whom the bar was named had somehow been imparted on a unsympathetic employee.  (That was a lot of years ago, and I imagine that person has since had children of his own and perhaps has learned to think about the urgency of a young person's need for a restroom.)

I have never been back since! But even so, I love that front door. It tickles me every time I see it.

There are many fine bars in Los Gatos. I was intent upon writing about them here until I found an excellent article in the San Jose Mercury News which did a beautiful job reviewing them. Depending on your mood and the circumstances, you may prefer Viva (at Los Gatos Blvd and Blossom Hill), Mountain Charlie's, The Black Watch, or Johnny's, or Double D's or any of the great sites in town from Steamer's or The Wine Cellar or who knows what. Read the article.  If you have kids in tow, I do suggest Double D's  (at Highway 9 and North Santa Cruz Avenue) or Johnny's Northside Grill (532 N Santa Cruz Ave)Both are most welcoming!

But whether you frequent bars or not, next time you are in downtown Los Gatos, take a gander at 8 North Santa Cruz and enjoy a chuckle at the image of the hatchet on the door there.  Imagine what Carrie would have to say!

Blog entry by Mary Pope-Handy,
Los Gatos Enthusiast,
Los Gatos & Silicon Valley (San Jose area) Residential Real Estate Specialist and
Realtor, CRS, ABR, SRES, ASP, CNHS, RECS, E-Pro,
Intero Real Estate Services, 518 N. Santa Cruz Ave., Los Gatos, CA 95030
www.PopeHandy.com
Do not use without permission, please.

Quito Road

Winding Quito Road tacks back and forth in zig-zag fashion, an ideal "speed trap" as it tucks around oak trees and occassionally crosses over the San Tomas Aquino Creek (named after St. Thomas Aquinas, a Dominican Priest). The creek and the road separate Los Gatos from Saratoga, and I believe it also marks the edge of the original Mexican Land Grant that comprised La Rinconada de Los Gatos, or "The Corner of the Cats".

It's a beautiful drive, it really is. But the temptation is to drive just a little too fast on this scenic route from the hills to the suburbs or vice versa. There have been too many accidents and so the good folks in charge of the shared road decided to use surprise to help in slowing down the traffic. The yellow diamond-shaped speed advisory signs admonish the driver coming into a turn that the recommended speed is 19 mph, or 23, or 22.  Visitors from out of state give a mixed reaction of delight and disgust, as if a sense of humor on government property could only take place on The Left Coast.

But it seems to work.

There are lots of hidden treasures along Quito Road.  I will protect the current homeowners by not giving the address, but there's an original log cabin from I believe the early 1800's sitting close to one of the many bends in the road. I saw it myself when that property was for sale a few years ago.  One room in all, the redwood logs stretched about 10 feet in one direction, and perhaps 8 in another, with just a door and a window or two for ingress and egress. Situated near the water, it was probably an idylic spot - if you like camping.  The last time I drove past, it looked like the log exterior had been covered by clapboard. I hope my eyes were just fooling me.  Isn't it a landmark?

And you'll find some orchards, the remanents of The Valley of Heart's Delight days, too. The prune was first introduced here exactly 150 years ago (in the winter of 1856-1857 by a Frenchman who grafted some French prune branches onto some native wild plums).  It's living history.  Deer and horses can be seen from time to time too. Even in Silicon Valley, the High Tech Mecca, we love to see the animals, the trees, and the open spaces. 

Yes, there are lots of expensive houses that most of us cannot afford there too (an average value of perhaps $2,000,000), but even so, they are a joy to visit on a warm spring or summer weekend when the Open House signs appear like the mustard flowers in March.  One home is an original adobe...another a contemporary of some sort, and another a ranch.

No matter what your pleasure, a trip down Quito Road is a perfect weekend outing.

Just watch your speed.

Blog entry by Mary Pope-Handy,
Los Gatos & Silicon Valley (San Jose area) Residential Real Estate Specialist and
Realtor, CRS, ABR, SRES, ASP, CNHS, RECS, E-Pro,
Intero Real Estate Services, 518 N. Santa Cruz Ave., Los Gatos, CA 95030
www.PopeHandy.com
Do not use without permission, please.

The Haunted Opera House of Los Gatos

More Haunted Places in Los Gatos

When people first hear that there are ghosts in Los Gatos, they want to know - right away - where they are!  The old cemetery location doesn't surprise them, at least not once they hear that there's a former graveyard that now has shops residing there.

But aside from a final resting place, where else are there ghostly sightings and activities?

One of them is the popular Los Gatos party destination, The Opera House. Apparently it's just too much fun to leave!  Seriously, the ghost there is said to be a woman - she has been seen and heard so many times, by so many people, that it is one of the few spots absolutely not in doubt to be inhabited by a spirit of a former human being. One of the most remarkable things is not just that she has been seen and heard, but that she has even been photographed.

But not to worry, whatever her name is (there is some dispute about that), she is known to be benevolent. I spoke to several employees there myself a few years ago. Those who'd had an experience of her (not all had, but many did) all claimed that she was kindly, protective. One told me that this gal has a conscience. The worker wanted to sneak out early but amazingly, the door was unable to be opened until her shift was over. Scary? The woman I spoke with said no. "She was not about to let me leave early - this is a ghost who's ethical", she confided.

Great Places to Kiss in Los Gatos

Spring is in the Air...