Los Gatos is not known for "affordable dining", but here and there we find hidden gems with good food and very reasonable prices. That's the case with Jasmine Chinese in downtown Los Gatos, a modest restaurant in an upscale part of town.
Lunch at Jasmine Chinese is a very good deal if you keep to the specials menu. For $7.25, you can enjoy one of the house lunch combination dishes, such as sweet & sour pork, plus soup, rice and hot tea, of course. If that's too much for for a midday meal, there are smaller lunch specials for $6.25, including a heaping plate of Chinese Chicken Salad, a dish of almond chicken and rice or several other selections. Dinners are more expensive, but still very affordable by downtown Los Gatos standards.
Variety is abundant here, so Jasmine is a great place to bring children, vegetarians, those with special diet constraints, folks preferring mild or spicy food and even picky eaters. I have eaten there dozens of times, mostly at lunch but also for dinner, and have found the staff to be consistently conscientious about "food issues" and special needs. Service is uniformly good and the staff very pleasant.
My own favorite menu items include the eggrolls, the chinese chicken salad, tangerine chicken, hot & sour soup, any of the kung pao dishes and any of the eggplant dishes.
Like many Chinese restaurants, Jasmine will prepare food "to go" as well.
This restaurant can be a little difficult to find for some people, but it's actually in a great, central location. It is in the Lyndon Shopping Center (which is where the old Lyndon Hotel used to stand and where famous people like Charlie Chaplain and John Steinbeck used to drop in for a drink). That building is a bit of a maze, but Jasmine is on the outside, facing Main Street, just in from the corner of Main and Santa Cruz Avenues. There's free valet parking, and also a public lot off Main Street that backs up to Mountain Charlie's and St. Mary's School, so it should always be possible to park.
Jasmine Chinese Restaurant is open for lunch and dinner weekdays, and open for dinner on Saturday and Sunday. For more information, see their website, http://www.jasminechinese.com/.
Jasmine Chinese
20 South Santa Cruz Ave.
Los Gatos, CA 95030
408-395-2373
For the most current Los Gatos Real Estate Market commentary, please click on the "Category" link for Homes & Housing Market. Market updates occur frequently, usually weekly.
Condominiums and Townhomes in Los Gatos
The landscape for Los Gatos condos and townhouses is varied and truly runs the gamut from simple shelter close to freeway walls and train tracks to newer or fully remodeled luxury homes with gorgeous views of Lake Vasona, the coastal mountains or Silicon Valley. Prices range from possibly as low as $250,000 to well over $1,000,000. At this writing, one townhome is being offered for approximately $1.3 million.
Some of these condominiums and townhomes are "in the schools", meaning in the Los Gatos Union School District. Others are in Moreland Schools (Rinconada Hills, Los Gatos Woods) or Union Schools (Los Gatos Village). Schools always factor heavily in home valuations.
The issue of location makes a huge difference in pricing and marketability. Whenever there's a "walk to town" or "walk to schools" type location (whether you bike, take a car or go on foot - the idea is close proximity), it adds great value that will matter to consumers no matter what the market. Likewise, some communities are built up directly against undesireable things like freeways, high voltage lines, and train tracks, and those will always be an issue, but even more so in a buyers' market.
If you are looking to purchase a townhome or condominium in Los Gatos, here are a few of the communities you might consider in the 95030 and 95032 zip codes:
Rancho de Los Gatos - Overlook Road area (close to downtown)
Rinconada Hills - off Pollard near Quito (gated)
Espana Oaks - off Los Gatos Almaden near Los Gatos Blvd
Los Gatos Village - off Los Gatos Almaden Road & Camino del Cerro
Charter Oaks - off Lark, near Los Gatos Creek Trail
Courtside - off Winchester
Courtstyle - off Winchester
Los Gatos Woods - off Pollard
Los Gatos Estates - off Pollard
Pueblo de Los Gatos - seniors community, Alberto Way area off Hwy 9 near 17
Vasona Terrace - off Winchester
There are many smaller communities as well, including some a very short distance to schools (such as along Roberts Road).
How Is the Condo and Townhouse Market in Los Gatos Now?
The real estate market in Los Gatos has been volatile for condominiums and townhouses in 2008 - a true rollar coaster from month to month. Let's have a look at the list price to sales price ratio and also the absorption rate. The numbers are from MLSListings.com. Graphs by yours truly, Mary Pope-Handy.
As you can see, it's been a rollar coaster of a ride on what buyers and sellers are experiencing in terms of how close to list price these homes are selling. With a 9% range in just 2 months, it's hard for anyone to know what to expect. Please note that most sales (escrow timeframes) are 30 days long, so the very high list price to sales price ratio shown in June reflects a "hot market" in May. With the following month so much different, many sellers were caught completely offguard.
This chart is almost an inversion of the first one. When the absorption rate is low, the list price to sales price ratio is higher - and vice versa. It gives a pretty clear idea that most months have favored the buyers more than the sellers - but not all! March was a particularly good month for sellers, with a small 3.86 months of inventory and a list price to sales price ratio of 101.58% (again, most of these contracts were signed in February, not March, as most are 30 day escrows). Conversely, buyers did very well in May closings, with a 95.43 list price to sales price ratio (and the sellers experienced a dismal 17 months of inventory). April was a good month for buyers to buy and a hard month for sellers to sell.
The weird thing is the lack of a strong pattern in all of this. Often there are trends that clearly move one way or the other, or ride back and forth a few months in one direction and then a few in another. But this constant up and down makes it very difficult for anyone to understand the market generally. That said, MOST of the months in 2008 have an absorption rate of over 6 months, which is the number by which the National Association of Realtors declares a swing from buyers to sellers markets. With that in mind, despite the volatility, we could say that in every month but one so far in 2008, it's been a buyers market and the only issue in question is the matter of degree.
Advice for Buyers and Sellers of Condos and Townhomes in Los Gatos
Buyers, this is an excellent time to buy a condo or townhome in Los Gatos. Sellers, if you want or need to sell, it is important to realize that most condominiums and townhouses in Los Gatos are NOT SELLING and that the odds are very much against your being able to sell. How can you get your home to be the one that buyers pick? It has to be in the best condition and the best price out there. Be the "shiny penny" that they cannot resist. If it's not the best deal on the market, it will get passed by.
Please call or email me for a confidential meeting to discuss your real estate wants and needs.
Interested in other Silicon Valley areas? Please also see my Valley of Hearts Delight blog, which covers primarily the "West Valley" communities of Saratoga, Monte Sereno, Los Gatos, Campbell and San Jose's nearby areas of Almaden Valley, Cambrian Park and Willow Glen.
Relocation is an upheaval, but often one full of excitement and promise. People moving to Silicon Valley find themselves coming to a place unlike any other - it's is an entrepenuer's haven, a high tech magnet. With a highly educated population, low crime, fantastic weather, scenic beauty, and opportunities in every aspect of life, the move to Silicon Valley or the San Jose area is abundant with opportunity for success and happiness.
How do you choose where to live once you decide that Santa Clara County, or Silicon Valley, will be home? There are a lot of things to consider, from the type of home you want and the commute distance you can tolerate to the availabilty of parks and trails, excellent schools, and an ambiance where you'll feel at home. And cost, too, of course.
For many, many people relocating to Silicon Valley from within the U.S. or from abroad, Los Gatos is that place that "feels like home". People from Europe have often told me that Los Gatos has a "European feel", and from my year living in Florence, Italy, I can appreciate that correlation! With the many unique shops and great restaurants and the heavy foot traffic, Los Gatos comes across as a place for living and spending time. It's a true community.
The community aspect is extremely important in Los Gatos. Many things bring people together. Big public events are common in Los Gatos - and many of them are free! In summers, there are not one but three free musical concert series (Vasona Vibrations, Jazz on the Plazz and Music in the Park). There's Shakespeare at Oak Meadow Park too. In September, a free movie is shown at Oak Meadow Park and the event is called "Screen on the Green". In December, there will be a well-attended tree lighting ceremony on the first Friday night of the month and a huge holiday parade the next morning. Every Sunday there's a Farmer's Market in the Los Gatos town Park Plaza (across from the post office). There are so many events, all year round, that bring people together. Some are sponsored by local churches (like the St. Mary's Country Fair in early October) or the Chamber of Commerce (Claws for a Cause in September). In November there's an inter-faith Thanksgiving service. Each year it is hosted at a different house of worship. And this is only a passing glance at the fun events that happen each year in the town of Los Gatos.
There are a thousand small things too. Volunteers make this town go! Los Gatos has two museums, and volunteers are the heart and soul of those operations. Volunteers in Policing, the many town commissions are all hosted by volunteers. (My husband is a volunteer on the Los Gatos Parks Commission.)
Schools are a big deal in Los Gatos too. The town is served by three elementary and middle school districts and they range from good to great in terms of the scoring.
Another key element that makes Los Gatos special is scenic beauty. The town of Los Gatos is nestled into the base of the Santa Cruz Mountains, so there are gentle, rolling hills and some steeper hills that provide dramatic and impressive views. The terrain is lovely with oak trees and redwood trees alike, but many grassy meadows where you might find deer or wild turkey. Some of Los Gatos is "horse country" too.
Vineyards are popular in lots with more space and the Santa Cruz Mountains are filled with wineries. You won't have to go far to taste locally grown and bottled wine, though - we have spots right in town where that can be done!
The Old Los Gatos or downtown area is historic and architecturally beautiful too. The Almond Grove District, the Edelen District, and the Broadway area are all turn-of-the-last century vintage and lovely old Victorian homes line the streets. Talk about charm! In December there are horse-drawn carriage rides that meander through the downtown and historic parts of Los Gatos.
Our weather is conducive to year-round fun outdoors - the Santa Clara Valley enjoys 300 sunny days a year! Los Gatos is the gateway to the coast, too, so it's only about a thirty minute drive from downtown Los Gatos to the beach at Santa Cruz.
Los Gatos also enjoys a bountiful supply of great parks. Vasona Lake County Park doesn't belong to the town (it's a county park) but it's over 100 acres, with a lake, right in the middle of the town of Los Gatos. Many other parks grace the town from one end to the other. Some have a fascinating history too.
Low crime, great schools, community spirit, fabulous dining and shops, ambiance, and parks are all a part of the Los Gatos experience.
Chicago Title has a relocation guide online, at no cost. Visit http://www.chicagotitle.com/DesktopDefault.aspx?tabid=352 and input California for the state and Santa Clara for the county and you'll get a very helpful guide to Silicon Valley.
What if you love Los Gatos but it's beyond your budget?
I can help you to find a home either in or near Los Gatos if the town is not quite in reach right now. There are many great areas adjacent to Los Gatos, such as Cambrian Park, Saratoga, Almaden Valley, Campbell, and Willow Glen - many of which are more affordable (or may offer a shorter commute). Call or email me and we'll evaluate your wants and needs together to get you as much as possible within your budget!
The Museums of Los Gatos are again sponsoring the always fun & interesting Historic Homes Tours on Saturday and Sunday, November 1 and 2, 2008, from 10am - 4pm. For more information on the tour of these Victorian-era beauties, please contact the Museums of Los Gatos at 408 395-7386 or visit them online at www.MuseumsOfLosGatos.org.
The Los Gatos real estate market struggled this summer. Noticeably declining prices were required to effect home sales in some price points, in which it seemed as though housing prices dropped quite sharply and rapidly. Please see www.PopeHandy.ReReport.com for a full interactive report on Los Gatos, Saratoga, Monte Sereno, San Jose, Campbell, and all of Silicon Valley.
There are a number of ways of gauging the real estate market in Los Gatos. We'll look at several of them to get a sense of what's happening.
A particularly accurate method of learning how the real estate market is performing can be obtained by studying the absorption rate. That's the rate at which the current inventory of available homes would be absorbed, or bought up, if no new listings came on the market. Below please have a look at the months of inventory, or absorption rate, for single family homes in Los Gatos since August 2007. NB that shorter months means it's more in the sellers' favor, and longer is more in the buyers' favor. (The National Association of Realtors says that longer than 6 months is a buyers' market.)
As the numbers indicate, it got harder to sell as the summer months progressed. May (reflecting April sales) was the best month since December. So homes listed May and later were challenged by comps that made the situation appear more rosey than it was in reality. (Graph created by Mary Pope-Handy using MLSListings.com data.)
Below, please find a "Market Barometer", care of the Real Estate Report, to which I subscribe, for the town of Los Gatos.
By this accounting, too, April and May were the better time of the year for selling in 2008, and prior to that it was the summer of 2007 before there was a really strong looking Los Gatos real estate market. And a glance over all the years shown reveals that 2005 was a great year for selling homes in Los Gatos.
Next, let's look at median prices in Los Gatos - both 95030 and 95032 - and also Monte Sereno, since it's so close geographically. This chart is from Altos Research, and is another subscription service I have, but instead of closed prices, this reflects asking or list prices. It is interesting to see that Monte Sereno fared the best and the 95032 part of Los Gatos (which generally is less expensive than 95030) the worst, with 95030 right in the middle. The wealthier the area, the better it seemed to do by list price in the last year. And that makes sense as the higher priced homes are less dependent on loans.
Next, let's view the Days on Market in the same three areas: Los Gatos 95030, Los Gatos 95032, and Monte Sereno (which is also 95030). All three follow the same general trends, though Monte Sereno (the green line) swings higher and lower than the two zip codes in Los Gatos. Interestingly, the 95032 zip code decreases its days on the market in recent weeks while the other two areas continue their upward climb. (Again, based on active listings in Los Gatos and Monte Sereno, not closed sales.)
Next, let's review inventory. Here we see that the inventory is rising recently.
Once again, Monte Sereno is the healthiest - it has the lower levels of inventory that correspond to lower days on the market and a higher median price.
Since it appears, from this data, that much of "how the market is doing" appears to be by price point, let's break out the data by median list price quartile within each area.
Los Gatos, 95030
Los Gatos, 95032
Monte Sereno, 95030
The highest priced markets are showing the most change during these months and the lowest priced homes are far more flat in the two parts of Los Gatos than in Monte Sereno.
Overall, list prices are fairly flat (looking at all markets in Los Gatos and Monte Sereno) - nothing really dramatic has happened here in the last 3 months for the majority of Los Gatos homes. Overally, days on market are rising. And overall, inventory is rising.
All of these point to a market which is increasingly a buyers' market, and this idea is strongly reinforced by the very first graph, which displays the absorption rate (for all of Los Gatos).
The glimmer of hope in the broader market comes from the fact that the number of sales is rising countywide for the second month in a row afte 46 solid months of declining sales. It could be that this is the bottom of the market - and the very most ideal time to buy. If this is the case, we'll see improvement in these numbers for Los Gatos in the next few months.
Furthermore, trends that may impact one part of Los Gatos, Monte Sereno, Saratoga, or anywhere else in Silicon Valley may not be of direct consequence elsewhere in Santa Clara County. A quick look at the REReport shows that Palo Alto, Cupertino and other areas are quite strong, despite a high number of foreclosures in South San Jose. So, too, with Los Gatos. What happens in Blossom Manor, Surrey Farms, the Edelen District, or the Almond Grove District may have little to bear with things that happen in the hills behind La Hacienda, new townhomes off Winchester Blvd, older condos on Los Gatos Almaden Road, or the comfortable ranch homes near Quito Road. And all of them are a different market than the large homes on Santa Rosa Drive, Aztec Ridge, or Matiliaja.... Because the real estate market here is a collection of micro markets, it's important to ALSO get information on your exact neighborhood and type of home and property (view, equestrian, vineyard, something in the Williamson Act) if you are in the market for buying or selling.
Please call or email me if I can be of help to you in buying or selling your home here in the Los Gatos area.
Today I got an email from a gal thinking of relocating to Los Gatos, and she wanted to know where the various natural hazard zones are. If she buys a house, she wants it to not be in an area prone to mudslides or to be sitting on a fault. Where are the earthquake fault zones in Los Gatos? Where are the landslide or mudslide areas? (She didn't ask about liquifaction zones or dam failure inundation zones, though they are also hazards.)
First, an explanation about the maps. These "natural or geologic hazard" zones in Silicon Valley are not necessarily static. I heard about a condo complex in Santa Clara that was adjacent to a creek or river, and one homeowner was unhappily surprised to learn that the flood plain had been redefined (after she bought her condo) to now include her home! This is expensive because lenders would require flood insurance on the property and of course it impacts resale value.
Conversely, I sold a home in Almaden Valley a few years ago that appeared to be on the Shannon earthquake fault, but the geologic report said that it's not actually in the fault zone at all. And one house I sold in Willow Glen had been in a flood plain, but when the City of San Jose did major repairs to the sewer lines, it was removed officially from the flood plain. That was a great boon for them in reselling their home.
With those disclaimers made, below please find links for maps of the Los Gatos area (it includes most of the town, but not all) from the Santa Clara County Planning Office displaying where the various hazard zones can be found:
Map 35 - MOST of the Town of Los Gatos (but not 100%)
We tend to use our household appliances until they stop functioning or cause problems that we can't miss. If the toilet clogs beyond our fixing, we call a trusted plummer or one of the "rooter" companies. If the roof starts to fail during a storm and the rain comes into the house, we know to contact a roofer.
Sometimes, though, we do not address things because we can't see or detect any damage happening. This can be the case with many elements in our homes and it's the reason you should periodically have your home inspected and its components serviced, even if you can't tell there may be an issue. These can be both costly and/or dangerous. Below please find a few examples.
(1) Risk of Fire exists when you have these conditions.
cracks in your fireplace's flue or firebox
frayed electrical wires (mice or rats in your attic can cause this)
lack of clearance between flue (from heater, water heater) and wood or other combustible materials
(2) Risk of Dry Rot, Fungus Damage, Mold exist under these circumstances
leaks in your roof that go into your attic but not all the way into the living area of your home
leaks from your toilet's wax seal can enable moisture to get into the underlayment
loose flashing can enable water to travel into your walls
(3) Carbon Monoxide Poisoning may occur
if your furnace has a cracked heat exchanger (an "old age" problem for a furnace)
These are only a few examples. Termites (drywood termites and subterranean) are also an issue for us in Santa Clara County, and it's best to catch those sooner rather than later to prevent extensive damage to the structure of your home.
Back to the furnace issue. You've probably heard that it's important to get your heater "serviced" once a year by a qualified, Silicon Valley HVAC company. You may have thought that the typical $99 cost to have your furnace looked at, tuned up and checked was simply a waste of money.
It's not. It could actually be a matter of life and death. If your unit is older (more than 20 or 30 years old), it may well have a crack or hole in the heat exchanger. This won't provide any hints of trouble. There will be no noise, no alarm. Instead, your ducts will likely carry carbon monoxide into your home. Depending on the location of the hole or crack, its size and the amount you use your heater, this poisoning could make you ill or kill you. (A carbon monoxide detector is a great idea, of course.)
I just took my own advice. Fall is a good time to have a heater serviced, so last week I called a company I trust to inspect and service my furnace. Guess what? It's got a hole in the heat exchanger. The good news is that I found out now, when I don't need the heat and can leisurely take bids on replacement units, and even more, no one in our Belwood home got sick or worse from using an unsafe furnace.
Have your heater checked, and do it before you need it. But that's not all. If you've been in your home three years or more, have a periodic termite inspection. Have your fireplace cleaned and checked. Make sure your roof is not in need of repairs or gutters in need of cleaning. Periodic maintenance and inspections will make your home's parts last longer, will be less costly in the long run, and will keep you happier and safer.
Do you need suggestions on whom to contact for various servicing and repairs? Please contact me and I'll share with you the names of companies and tradespeople whom I trust.
Mary
Mary Pope-Handy, Realtor, CRS, ABR, e-PRO, SRES, ASP, RECS, CNHS, ACRE Helping Nice Folks to Buy & Sell Homes Since 1993 Co-Author: "Get The Best Deal When Selling Your Home In Silicon Valley"
Keller Williams, Cupertino, CA (Silicon Valley)
877 397-5391 (Direct/Toll-Free/Fax); 408 204-7673 (Cell) www.DelightHomes.com (PopeHandy.com)
emailto: Mary@PopeHandy.com
Blog: www.LiveInLosGatos.com & www.ValleyOfHeartsDelight.com
A blog about Los Gatos real estate, homes, houses, condos, townhomes, housing market, neightborhoods, history, events, businesses, parks, schools, photos, issues, and lifestyle.
Mary Pope-Handy
Realtor, CRS, ABR, SRES, E-PRO
Luxor Real Estate Group
Mailing Address for Mary: PO Box 440 Los Gatos, CA 95031-0440
877 397-5391 (office/toll-free)
Los Gatos is not known for "affordable dining", but here and there we find hidden gems with good food and very reasonable prices. That's the case with Jasmine Chinese in downtown Los Gatos, a modest restaurant in an upscale part of town. 
Relocation is an upheaval, but often one full of excitement and promise. People moving to Silicon Valley find themselves coming to a place unlike any other - it's is an entrepenuer's haven, a high tech magnet. With a highly educated population, low crime, fantastic weather, scenic beauty, and opportunities in every aspect of life, the move to Silicon Valley or the San Jose area is abundant with opportunity for success and happiness..jpg)
For many, many people relocating to Silicon Valley from within the U.S. or from abroad, Los Gatos is that place that "feels like home". People from Europe have often told me that Los Gatos has a "European feel", and from my year living in Florence, Italy, I can appreciate that correlation! With the many unique shops and great restaurants and the heavy foot traffic, Los Gatos comes across as a place for living and spending time. It's a true community.
The Old Los Gatos or downtown area is historic and architecturally beautiful too. The Almond Grove District, the Edelen District, and the Broadway area are all turn-of-the-last century vintage and lovely old Victorian homes line the streets. Talk about charm! In December there are horse-drawn carriage rides that meander through the downtown and historic parts of Los Gatos.
Back to the furnace issue. You've probably heard that it's important to get your heater "serviced" once a year by a qualified, Silicon Valley HVAC company. You may have thought that the typical $99 cost to have your furnace looked at, tuned up and checked was simply a waste of money. 
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