Archives
January 2008
.jpg) Travel is the undisputed passion in my household. It trumps almost everything else: remodeling, artwork, new furniture, you name it. (OK, not education. We pay a lot of tuition here and have never regretted it.)
When I learned that Sellabration, the annual educational conference of the Certified Residentail Specialists (CRS, of which I am a member), was being held in Hawaii rather than the usual Vegas in January of 2008, I knew I had to go. Late last night I returned from 5 days on O'Ahu - first with my family and then later with my Realtor colleagues as I took classes in real estate - working with buyers and sellers in this challenging market.
It was a great trip, from start to finish. (Even if I did bring the rain with me!) We had a few sunny patches that were ideal for visiting the Polynesian Cultural Center, the beaches, the pineapple plantation, snorkeling, or just being out in the cherished sun. At other times, the rain came down in buckets, to our surprise. "It's unseasonal" they kept insisting. No matter, we were on vacation and we were having a great time.
.jpg) The amazing thing that I wanted to share, though, is that our small town of Los Gatos seems to have an amazingly big presence on the national scene. I kept bumping into Realtors who were not from Los Gatos, but who were familiar with it.
"How'd you get so lucky that you live in Los Gatos?" said one woman to me at a booth there. Over and over, I met agents who had wonderful experiences of living or visiting here in Los Gatos - even if their homes were no where near our fair abode. One gal even told me about renting a room in a house in Los Gatos, only to discover it was haunted. I happen to collect stories of haunted homes - what are the odds?
So I return home, an ambassador Realtor, to tell you this: Los Gatos is not so much of a secret after all.
.jpg) That's both good news and bad news, isn't it? On the one hand, we want people to know and savor our town. On the other, we don't want to be overrun with so many enthusiastic visitors so that the town becomes more like a mega-mall. No Hilo Hattie's for us. No Westfield Los Gatos, please.
My friends in Seattle joke, "tell everyone there that it rains here constantly". They don't want any more Californians to move there. Perhaps we should take that approach. "It is a great town, but it costs an arm and a leg to live here."
Maybe that would do the trick?
Probably not. I don't think there's a way that we could make it a secret anymore.
So go ahead, tell people it's a great town. Tell them to visit.
The cat's out of the bag already.
|
|
Comments (0) :: Post A Comment! :: Permanent Link :: Email This Entry
|
|
Perhaps the most hotly contested and divisive issue in the history of Los Gatos has been the skatepark ballot initiative. It is upsetting to see how much hostility has emerged.
The Los Gatos Observer carries the controvery in an "up close and personal" kind of way. There have been an inordinate about of personal opinions, rebuttals, comments, and accusations - all found on this news site's pages. It's a soap opera with a political bent.
As for me: I have just one request. Please vote. My hope is that the town gets a huge turnout next Tuesday and that the voters will speak their peace and then we will HAVE peace. Truthfully, I am sick of the complaints. Most of them are coming from the "pro D" camp, but they are found on both sides. I am sick of the stolen political signs. And perhaps most of all, I am sick of the villification of the other side. There are good people on both sides of the argument and it is sickening to read the villification of folks on the other side of the argument. Arguments could be made for voting either way - so let's leave the "ad hominems" out of it.
Vote.
And then, please, let's move forward.
|
|
Comments (0) :: Post A Comment! :: Permanent Link :: Email This Entry
|
Date: Jan. 21, 2008
Tags: Los Gatos Real Estate Market, Absorption Rate, Months Of Inventory, Silicon Valley, Saratoga, Cambrian Park, Opportunity Market, Single Family Homes, Condos, Townhomes
Tired of hearing the doom and gloom regarding the real esate market? Most of that negative press is national news, not local news. Truly, it doesn't impact home values in Los Gatos if prices are falling in parts of Florida, Vegas, or even in Sacramento. The local market - our town plus neighboring communities here in Silicon Valley - is the crucial one.
Things are just not that bad for home sales in Los Gatos overall.
That said, "the market" consists of several sub-markets. It's one thing if you are trying to sell a very expensive home with an unpopular architectural style. It's another if you're marketing a modest or at least non-extravagent home in a good location with great schools. Still another if you have a view property...or a lot that could be split. And no matter what, overpriced just won't work.
A view of the big picture in the Los Gatos real estate market reveals that 2006 was a lot tougher on sellers (and folks watching their equity) than 2007 was. The first three quarters of 2007 were remarkably good for single family homes, in fact. Have a look at the "months of inventory" or "absorption rate" by month for last year for single family homes. (As a point of reference, the National Association of Realtors says that less than 6 months of inventory is a sellers market.)
For the condo and townhome market, it was even stronger. Once again, it was a little more challenging late in the year (not an unusual pattern for any year).
What about now? How is the inventory of homes in Los Gatos right now?
About one house in four is selling in this area overall. That's pretty much the case in Los Gatos, Saratoga, and Cambrian Park. In Los Gatos there are 97 single family homes available and 27 sale pending (in Saratoga it's 61 and 17, and in Cambrian Park it's 140 and 34).
The condo market, which was much stronger throughout 2007 than the single family market, is now cooler than the single family home market in town. As of today, January 21st, there are 26 townhouses or condominiums for sale and just 2 under contract or sale pending. (So instead of a 1 in 4 chance of selling, it's closer to 1 in 10.) In Saratoga it's a little better with 10 available and 3 pending. In Cambrian there are 41 "class 2" (condo/townhome) on the market and 7 which are pending sales.
Every market presents an opportunity for buyers or sellers. Where's the best real estate opportunity in Los Gatos now?
Late in 2007, it appeared to be an ideal time to be a "move up buyer" - to sell that townhouse and to buy a single family home. Now, early in 2008, the opportunity has shifted. It is now a great time to sell that single family home and to downsize into a townhouse or condominium.
The market is always changing and the micro markets can all be different from the general trends in the town. If you'd like to discuss your home, your neighborhood, or buying and selling, please send me an email or give me a call. I'd be happy to set up a time to talk with you about your unique situation.
Mary Pope-Handy
|
|
Comments (6) :: Post A Comment! :: Permanent Link :: Email This Entry
|
|
Los Gatos prides itself on being a town rather than a city, with the intimacy and friendlines that being a town implies.
Don't let the name "town" fool you, though. There's a lot of "big" in this small town. We do the holidays in a big way in Los Gatos: the tree lighting, the holiday parade, the fantasy of lights, the carriage rides, and the decor throughtout the downtown and neighborhoods are all on a great and beautiful scale. Summer's the same scale of big with outdoor events: we enjoy Shakespeare in the Park, Screen on the Green, and more musical venues than anywhere else in the county (Jazz on the Plazz, Music in the Park, Vasona Vibrations, and last year a newcomer joined the musical scene in Old Town with Saturday afternoon music on the deck next to Borders - all of these are free musical events).
.JPG) Los Gatos real estate is varied; while it's a well-to-do town, not everyone lives in large homes or view estates with vineyards and olympic sized pools. In fact there is a lot of variety in the size and character of our houses from the inauspicious 1100 sf to 1400 sf track homes built in the 1960s to charming, 100+ year old houses in the heart of downtown - in the Almond Grove, Edelen, Fairway Plaza or Broadway districts. Close by, there are woodsy mountain homes in the neighborhoods off of Highway 17 that are "part of the town" if not legally incorporated into it. And there are the homes in great view locations on enormous lots. Most of these lovely houses that sit atop our closest foothills are not monster homes, but tasteful, larger homes. It's just that the collossal strutures are impossible to miss.
With so much variety, so much "big" and "small", is it any wonder that the valley's smallest home is also in Los Gatos? The former chicken coop is now a showplace of stye and design and blends in modestly among its larger peers in the Almond Grove District. After a fire destroyed the old structure, it was rebuilt in 1997. Designed by Gary Schloh, it is a perfect fit for the tiniest lot (956 SF) in the county too. How tiny is tiny, you are wondering. Would you believe 514 square feet? Needless to say, there's no wasted space!
The smallest home is a private residence and is not for sale. Watch for the annual home tour events in town - the generous owners have offered it as part of charitable tours in the past, and if you are lucky, may do so again!
|
|
Comments (2) :: Post A Comment! :: Permanent Link :: Email This Entry
|
Date: Jan. 12, 2008
Tags: East Los Gatos, Belwood, Belgatos, Surmont, Homes, Real Estate, Houses, View, Large Lots, Tree Lined Streets
.jpg) On the eastern edge of the town of Los Gatos, there sits a neighborhood of about 500 homes that most people refer to as simply "Belwood" but in fact is comprised of three different neighborhoods: Belwood of Los Gatos, the Belgatos area and the Surmont subdivision. Collectively, they enjoy close access to fabulous Belgatos Park and the use of a great neighborhood pool and cabaña.
Being partial to this region of town since my family and I reside there, I provide a small website, BelwoodOfLosGatos.com (also Belwood-Belgatos.com points to it), which includes hyper local information about that neighborhood's homes and real estate, Belgatos Park, the cabaña and also an area-specific blog to which I occassionally post. Today I blogged about the three parts of the area and homes for sale there - what is currently on the market and a hint about an upcoming listing (not mine, but one I'm aware of). Additionally, there's a link to the "home info" section, which includes sales prices of homes in Belwood, Belgatos and Surmont in recent years.
Interested in the Los Gatos real estate market? It's not "one market", but many micro-markets. What applies in one region or price point (or even school district, at times) may not be true in another. The Belwood area homes in east Los Gatos is one of those many markets. Pop by my blog and site there and get to know the neighborhood! A photo slideshow is available too.
|
|
Comments (0) :: Post A Comment! :: Permanent Link :: Email This Entry
|
|
The numbers are in for December 2007 and the real estate market in San Jose, Santa Clara County, Silicon Valley, and Los Gatos, to name a few areas.
Cliff notes version: prices are holding, or even going up in areas year over year (this last December compared to the one before). But sales are decidedly down. So again, if most homes are NOT selling, it's not much consolation that values are rising. It's a mixed message, but that's precisely what is happening. A great home in a great area with a great price (low) will sell and for "top dollar". Anything less, no such luck!
If you would like DETAILED information on San Jose (and by district, such as Almaden Valley, Cambrian Park, Evergreen, Willow Glen, West San Jose, etc.) and the cities and towns that comprise Silicon Valley or Santa Clara County, including Los Gatos, Saratoga, Campbell, Santa Clara, Los Altos, etc., please visit my just-updated Real Estate Report. You will find monthly and annual information on all of these areas and more. And if you'd like a commentary on how to make sense of it, please download my newsletter, which is 18 pages long and in pdf format:
http://rereport.com/scc/print/MaryPopeHandySCCannual.pdf
Right now it's quiet for many of us on the real estate front - and that is not untypical though I usually am busier in January than I am now! Things often pick up in February just after the SuperBowl. (At my house, we are cheering on the Patriots - you may know that I'm related to the QB there, so we are perhaps biased, but not too much.)
I would say to buyers: prices are NOT going down in the best parts of Santa Clara County. Interest rates are good. Inventory favors you. BUY NOW. Homes are not going down in price while you wait!
And to sellers I would say this: yes, prices are going up, but still most homes are not selling. If you wait, you risk having much more competition in the marketplace. If you're ready to sell, get your home on the market NOW.
Each situation is different. Please email or call me for specific input and assistance. I do offer a free one hour consultation to prospective clients.
Happy New Year!
Mary
|
|
Comments (0) :: Post A Comment! :: Permanent Link :: Email This Entry
|
|
Silicon Valley is not alone in being pounded by a fierce Alaskan storm this weekend. The Friday rains - which we desperately need - came in a short period of time, together with strong winds which apparently gusted close to 100mph in the Santa Cruz Mountains.
 It's a mess out there, and it's not over yet. The roads are filled with fallen leaves and branches. In the Almond Grove District of downtown Los Gatos, a bough actually blocked off an entire street and damaged a car. This is not an uncommon story from one end of the state to the other. Fences are down all over. Emergency personnel are working overtime to handle the accidents and weather related problems. In Southern California, they face mudslides after the fires a few months ago - homes are truly at risk there.
Not surprisingly, power was lost to over a million P, G & E customers in northern California alone. Additionally, cable and internet services are out for many of us too. At our house in the Belwood area of east Los Gatos, we have Comcast cable for high speed internet and television. But they are both out. (The town of Los Gatos requires the cable boxes to be below ground, at least where we live, and every time we get a heavy rainfall, the boxes flood and those services go out. Our neighbors used a sump pump on theirs, and helped us use it on ours, to no avail. We keep dialup as a backup here since my husband and I both work from home and can't afford to not have internet access.)
The end is in sight. By Monday, the rain should have stopped. Then it will be time to do the cleanup.
Once you take care of the immediately obvious items, let me suggest a few others to protect your home while they are on the top of your mind.
(1) Water Against Your Home: Get It Away
 Did the water pool up against your house, or come very close to doing so, during these storms? If so, it's imperative to get the water away from the house. If you live in Los Gatos, Monte Sereno, Saratoga, Almaden Valley, or any of the regions close to the coastal foothills, you may be getting hillside runoff. Or you may have a very high water table - both which are much more serious and will require expert help. (Call or email me if you'd like a recommendation for an inspector.)
Often water pools for two very simple, and easy to remedy, reasons. Fist, it may be there because the downspouts don't extend away from the house and/or secondly because the dirt around the soil is not properly graded.
If your downspouts don't have extenders, go get them! They are ugly but functionally very important. They are cheap. Ace Hardware in Los Gatos carries them and the folks there are friendly and will assist you. Next, see if you need to work on the grading around your home to carry the water away from your home's foundation. (If you lay a marble 1' away from your house, would it roll toward or away from it? You want it to go away from your house.)
Here in Santa Clara County, in the San Jose area generally, we have clay soil. It expands when wet and is extremely strong - much more powerful than the concrete and rebar in most homes' foundations. Foundations can be very costly to repair, and a moving foundation can put your home out of level and cause other problems too - most of which are not easy or inexpensive to fix. So if you care about your real estate as an investment, protect your house's foundation: get the water away from it.
(2) Leaves On Your Roof and In Your Gutters: Get Them Off
 We love our trees, especially here in the west valley communities. When they are too close to our residences, though, they can be an issue. (In the photo here, the house has a shake roof, which is dark gray. But there are so many leaves on the roof that it's almost not visible at all.)
Overhanging branches can be a superhighway for rodents to get onto your roof. Depending on your roof type, from there it may not be a whole lot of effort for them to get into your attic, and then down into your walls, too. Rats munching on electrical wires can spark a fire. The list of why you don't want your home to be a habitrail go on and on.
But the leaves themselves are a problem too if they pile up on your roof and in your gutters. On the roof, they can trap moisture and cause accelerating aging to the shingles, or encourage the growth of moss (also ages the roof faster). Perhaps worse, when the roof and gutters fill with tree debris, it can cause actual roof leakage as the water does not drain properly but instead backs up into your home from between the shingles or tiles.
Meanwhile, though, we need to wait out this series of storms. Our total rainfall has been off by about half of last year's, and last year's was low too. (Not unlike the real estate market...) If we don't get more rainfall, the folks at San Jose Water are saying we may have a full on drought and rationing next summer. So we are thankful for the precipitation - just wish it wouldn't all come at once!
|
|
Comments (0) :: Post A Comment! :: Permanent Link :: Email This Entry
|
|
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.
|
RSS Blog Feed
