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November 2007
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For the most recent Los Gatos real estate market information, please click on the header above to visit the current week's worth of posts. Every few days, this blogsite will have a market comment, so please visit this site often.
What is the housing market doing in Los Gatos now? Market analysts are divided as to whether it will settle down by the end of this quarter and bring us a better 2008 or if the market will continue to be sluggish for another year or two with increasingly decling sales and in some areas, declining home values. No one knows the future, but there are convincing arguements for both outcomes!
Let's have a look at October's numbers.
Los Gatos prices are up from a year ago -13.7% for the median sales price and 21.5% for the average sales price. But the number of sales was off a whopping 60.6% from the same month last year!
Are home values rising? Not necessarily.
This could be an indicator that what little is selling happens to be selling in the wealthier sectors
of the market. Low end homes are possibly suffering a more direct hit from the mortgage fallout than the extremely high end homes.
An excellent tool for evaluating the market is the absorption rate or "months of inventory". It is the rate at which homes are selling - it is a better indicator than days on the market as it incorporates the pace at which new listings are coming on the market too. This number shows how many months it would take to sell off the current inventory if no new homes were to come on the market. Below please find my graphs for single family homes and also for condos in Los Gatos this year.
Below please find the Single Family Homes in Los Gatos in 2007 "Months of Inventory" (fewer months is a stronger seller's market, more months is a stronger buyer's market). Data pulled from REIL.com, our mls provider.
Over 6 months is considered to be a "Buyer's Market". So the market has become much more favorable for buyers this fall. (Buyers: this is a good opportunity for you to buy now!)
Below, please find Condos and Townhomes in Los Gatos in 2007 "Months of Inventory" (data from REIL, our local MLS provider - math by Mary).
Interestingly, the condo market appears healthier than the single family home market. Is it a matter of affordability? I suspect that it's driven by first time homebuyers who have cash in hand. The more entry level homes in Los Gatos that are single family homes are frequently not a buyer's first home, but a step up. The lower priced homes in the valley are having trouble selling because of the subprime fallout. My thinking is that the stalling out of those sales is impacting the ability to sell entry level homes in Los Gatos.
Here's a key "take away" from this peculiar disparity: this is an EXCELLENT time for condo and townhome owners to sell their current home and make a move up into a single family home. Seldom do things line up so perfectly for this kind of a move!
Want more data? My Real Estate Report is now updated with October's numbers for Los Gatos, Saratoga, and all of Silicon Valley (including by district within San Jose).
To get the county view in a spreadsheet including Los Gatos and nearby cities, look on the left sidebar and click Monthly Trends under the County headline (if you go to the Monthly Trends under the San Jose headline, it will bring you Almaden Valley, Cambrian Park, Willow Glen, etc. rather than the Campbell, Saratoga, etc.). Scroll down on the main part of the page and click on the Continued button.
To view charts of market activity, sales and listings in Los Gatos in particular, click on the words "Los Gatos" in the left sidebar.
This report is updated monthly, usually around the 7th-10th of the month.
If you would like even more information, please view the 4 page, printable PDF version, which includes less statistical information but more market commentary:
For more information on the market, your neighborhood or your home, please contact me!
Warm regards,
Mary
Mary Pope-Handy, Realtor, CRS, ABR, e-PRO, SRES, ASP, RECS, CNHS
Helping Nice Folks to Buy & Sell Homes Since 1993
Co-Author: "Get The Best Deal When Selling Your Home In Silicon Valley"
408 204-7673 (Cell)
www.PopeHandy.com www.ValleyOfHeartsDelight.com
Mary@PopeHandy.com
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 Let's be clear on something: squirrels, possums, skunks, racoons and other wildlife are not generally a problem in Los Gatos. Recently a mountain lion was seen on Cypress Way - and sometimes the big cats wander into suburbia. Those events constitute a problem. But by and large, the small furry animals that share our turf are not an issue.
I bring this up because I like to track who's finding "Live In Los Gatos", how they get here, what are the popular search terms, etc. It's all visible to you, too, if you are in the slightest bit interested. Just scroll to the bottom of the page and find the Site Meter button. Click on it. A whole world of info - probably much more than could possibly interest you - about how people find this spot lies in the pages beyond that portal.
What upset me today was seeing that one Google surfer found this site by asking about killing squirrels in Los Gatos. If you go through the Site Meter link and then look at the left sidebar where it says "Referrals" you will find one that reads as follows:
When I clicked on the Google search page, I saw that there seem to be aggressive squirrels in Palo Alto and people are thinking of extermination. Maybe it's beyond that and it's part of a plan. But as far as I know, there's NOTHING like that in Los Gatos.
That said, I just asked my husband, Jim Handy (who is a volunteer parks commissioner in Los Gatos) if there's anything about a plan to kill squirrels in Los Gatos. "No, but there's a problem with gophers at Oak Meadow Park", he informed me. What kind of problems? "Ankle turners..." Jim explained that people have been getting hurt tripping on gopher holes at the Town's Oak Meadow Park. Apparently there is a plan to poison gophers - at that one park.
 It used to be against the law to use poison in parks in all cases. Apparently now, under heavy regulation, some use of poison is allowed. I can't say this makes me feel any better that it's a very guarded situation.
What about the historic but still timely Macabee Gopher Trap? It has been in production right here in Los Gatos for about a hundred years. Or perhaps it would be better if they would use a product like my old Saratoga High School friend Bob Bruno's "Gophernator" (or "Rodenator" since apparently it handles more than just gophers). Who ya gonna call?
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 Going to a bar alone is really out of my comfort level, but even more so when I'm not even meeting someone there.
But that's exactly what I did yesterday, and it's Comcast's fault.
Why? Because Comcast did not broadcast the NFL "Game of the Century" - the Patriots vs. the Colts. Last week I saw a (national) television ad that it would be shown. Being played at Indy, the game was on yesterday afternoon starting at 1:15pm local time.
But when I looked at the television listings for Sunday, I was shocked and appalled that this incredibly significant game wasn't listed as being televised. We're talking about the game between arch rivals. The game where both went into it undefeated this season, 8-0.
 I did what any paying customer would do: I phoned Comcast. "Can I upgrade the sports package and watch the game?" I asked, rather than complaining. "No, ma'am, Comcast isn't showing that game west of the Rockies."
Incredible. Obviously, I should have satellite television instead of Comcast if I'm going to live in Los Gatos...or apparently anywhere "west of the Rockies".
 Perhaps I should explain why I'm a passionate Pats fan while living in Niners (and Raiders) country. The quarterback, Tom Brady, who hails from nearby San Mateo, is my second cousin. I always liked football - I think I attended every Saratoga High and Bellarmine College Prep game when I was a teenager. (My college, Gonzaga University, didn't do football. Basketball was - and is - king in Spokane.) I didn't grow up watching the Niners or Raiders except occassionally on t.v. But when you have a cousin on the field, it changes everything. Or, as I like to say, "blood is thicker than geography". (We have loads of other family in the area too, including my sibs and their families and other cousins.)
Anyway, all of this to say that we're Patriots fans and I watch any Pats game that Comcast will deign to put on the air. I was certain that the Patriots vs the Colts game would be aired - heck, I saw the ad on TV that asserted it would!
No dice.
 The only alternative was to go to a sports bar. Happily, in Los Gatos we have a wonderful one, Double D's. I phoned them one minute after they opened to ask if they'd be showing the game. "All over!" the gal reassured me.
My husband and kids weren't able to go with me. I tried calling one friend to see if she'd go - she would have but was in southern California with her mom, who'd been ill. Most of my other friends really don't watch football games on television. Since I was sure the game would be on tv, I just hadn't planned out going to a bar to catch a little football.
 I went alone to Double D's to watch at least part of the game. The place was packed!! Saw the first half - the Pats were trailing as it went into the halftime show and it had been hard-fought to that point. I enjoyed a beer and a burger and watched some great football on a huge, super clear screen. Only problem for me was that I don't know all the refs' hand signals and there was such an enthusiastic crowd at Double D's that it was difficult to hear anything.
For that and a lot of other reasons, I still prefer watching the game at home. But I was thankful to be able to see it at all.
I had been sitting next to a guy named Oscar who was sporting a # 12 shirt (and who told me that for Halloween he "was" Tom Brady) and told him as I left at halftime, "they have often come from behind in the second half, and I bet they do it today".
Back at home, there were things I had to do but I kept my computer logged in to NFL.com, where at least I could follow the score and read the plays, if not see what was going on. The fourth quarter was wild. My teens were attempting to finish the weekend's homework load but I updated them on the game fairly frequently. What an upset! The Patriots charged back in the last quarter, reversing the lead and winning 24-20 there on the Indy homefield.
Congrats, Patriots! I knew you could pull it off!
Thank you, Double D's, for showing this game. Obviously a whole lot of other folks wanted to see it "west of the Rockies" too.
And Comcast? Today I'm going to see what it costs to install satellite television. . . .
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Double D's is located in downtown Los Gatos at the corner of Highway 9 and North Santa Cruz Avenue, just off Highway 17. The parking lot there is small but there's tons of free public parking between University Avenue and North Santa Cruz Avenue.
354 N Santa Cruz Avenue
Los Gatos, CA 95030
Phone: (408) 395-6882
Fax: (408) 395-8402
As with other blog posts highlighting local businesses in Los Gatos, this is not a paid post but again this blogger's positive experience with a locally run place.
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.jpg) Third Generation Los Gatan
Jack R. Sorenson's Fantasy Novel
Inspired and imaginative, The Child of the Shadows is Jack R.Sorenson's fantasy story of magic, growth, hope, and the classic issues of good and evil.
Folks who enjoyed reading the Harry Potter series will find many things to like in this book as well, as it shares some of the hallmarks: the use of enchantment and the element of "another world" being among them.
Best of all in this tome is character development. The individuals we meet are complex and intriguing, all with several dimensions to them. In Child of the Shadows, the main players are not always what they seem at first glance - or second, or third.
A month or two ago, I had the pleasure of meeting Jack in person and talking with him about his book, about Los Gatos, ghosts and some neat history of the town. He has a wonderful "sense of story" that he's putting onto paper and I expect to see his current work become a series in a short period of time.
I promised Jack I would read his book and write about it in my Live in Los Gatos blog. At the current time, I'm only halfway through the very long (500 + page) novel. With several open books on my nightstand at once, nothing is consumed too fast, but this one is worthy of a mention for your holiday gift list - well before the end of the year, by which time I'll have finished it!
Where to find the book? It's available at the Los Gatos Public Library and online at Amazon.
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Guest Post by Janet Thrasher of Thrasher Termite & Pest Control in Los Gatos
.jpg) Recently I had the pleasure of spending a couple of hours with Janet Thrasher of Thrasher Termite & Pest Control in Los Gatos. This interview is Part 2 in a series about pest control work and homes.
Mary's Preface: Recently I was working with buyers on the sale of a home where the listing agent had a pre-sale inspection from a pest control company that suffers from a very bad reputation in my industry. The report we were given said that there was no "Section 1" work (no active infestation of termites, dry rot, fungus etc.) in this 50+ year old house. I didn't trust it and had both a new home inspection and a new pest or termite inspection from Thrasher. Both of my inspectors noted lots of damage under the house - visible from the crawl space and images of which I saw from the home inspector's digital camera. As it turns out, there was a whopping $10,000 worth of Section 1 damage (a combination of termites, dry rot and fungus). Clearly, the guy from the company with the bad reputation never went under the house at all. But the homeowner did not know that he'd hired a bad company.
Mary: Janet, how would you suggest that people choose a termite or pest inspection company?
Janet: That's a good question. Often people are not sure how to choose a pest inspection company because they don't have to do it very often. So sometimes they go with a big company that they've seen advertised. That is not what I would suggest.
My recommendation would be to hire a locally owned "Mom & Pop" type company. If there are any problems, the owner of the small, local firm is more directly involved and can address issues quickly. Typically the staff is more closely trained and supervised by the owner of a small company. I would also suggest that a homeowner make sure that their inspection include the crawl
space and the attic. Some companies will not do this unless you specifically request it. It is common to find many early symptoms of pest activity in these locations. It's just not a thorough inspection if these areas are skipped.
Also I would find out how long the pest company has been in the business. You can check with the Structural Pest Control Board to see if there are any complaints with the company you are considering. Maybe you could ask a prominent Realtor for the name of a well-reputed company.
Mary: Great list. I would agree that the agents have a pretty good sense of which companies do good work at a fair price. Word gets around if companies either miss damage, are unreliable, or unprofessional.
Janet: I would add that the chemicals used in the industry have gotten a lot better over the years. They work better and they don't have an odor like they used to.
Some companies will use other methods, like microwaving the termites or a freezing or heat method for drywood termites. We've found that when we tried the non-chemical methods, we simply got a lot more "call backs". In other words, it didn't have as high of a success rate as the chemical methods so we had to go back and re-treat. The chemicals are so much more efficacious than the alternative methods. We simply do not have call-backs anymore with the chemical method.
With subterranean termites, the treatment can take a couple of weeks to fully work. The reason is that the chemical used, Termidor, has a "transfer effect". It can work by indirect contact. One termite gets the chemical and brings it back to others in the colony and it's spread that way - each termite doesn't have to get direct exposure to the pesticide.
Mary: Does it matter when you do the treatment?
Janet: The time of year doesn't really matter, but I do think it's best not to do it on a rainy day.
Mary: Anything else a homeowner should know?
Janet: I think people are nervous about the chemicals. There are myths about how dangerous they are to humans. The applicators are required to attend ongoing, continuing education classes on how to safely apply and the chemicals we use. If the pesticides were dangerous or harmful to us, it would show up in this group of people who work with them all the time. It just isn't the case, so I'd like to dispel that concern.
Thrasher Termite & Pest Control
408 354-9944
info@thrashertermite.com
17427 Farley Road West
Los Gatos, CA 95030
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Live in Los Gatos:
A blog about Los Gatos real estate, homes, houses, condos, townhomes, housing market, neightborhoods, history, events, businesses, parks, schools, photos, issues, and lifestyle.
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