Please stop by a Sereno Group office in Los Gatos, Los Altos or Santa Cruz to take part in a FREE e-waste, e-recycling
collection event on   Sunday April 22    9:30AM- 3:30- PM.

Metech Recycling has an incredible 95% success rate with getting these items securely recycled for manufacture!

Items accepted:
Monitors/TVs
Computers/Laptops
Cell phones/Telecom Equipment
Wire/Cable/PC Boards/Scrap Metal
Video tapes
Mice/Keyboards
Printers/Fax/Copy Machines
Stereo Equipment, Speakers
DVD/CD/MP3 Players
Microwave Ovens

Please, No Household Appliances:
Vacuum Cleaners, Toasters, Ovens, Etc.
Also no lights of any kind, no batteries

Where to go to drop off the approved items?

Los Gatos/Saratoga
214 Los Gatos-Saratoga Rd.
Los Gatos 408-335-1400

Los Altos/Palo Alto
369 S. San Antonio Rd.
Los Altos 650-947-2900

Santa Cruz
2407 Porter St. #150
Soquel 831-460-1100

Service Provided by
GreenMouse, Inc. a CA State Approved Col lector , CEW ID# 103153
442 Reynolds Ci rcle, San Jose, CA 95112
(408) 464-9999
www.greenmouse.com

Today we’ll have a look at the most recent closed residential realty sales numbers and then also view “live charts” which are updated weekly for Los Gatos real estate.  This segment of Silicon Valley real estate can be viewed from many angles: zip code, school district, sale type, view or no view, acreage, luxury home or basic home type…. This post will serve as a brief overview only. For information on YOUR Los Gatos subdivision or neighborhood, please contact me!

February 2012 sales numbers for Los Gatos real estate are in via my Real Estate Report.  Have a look:

(1) Houses and Duet Homes

Prices are going way, way up!  And yet the market is cooler – more homes are on the market, the list price to sales price ratio shrank a little.  The rest of the west valley areas are seeing multiple offers, overbids and rising prices – and we are hearing of them here, also.  That may not be reflected in the stats for another 30 days or so.

(2) Condos and Townhouses

More skyrocketing prices!  The LG condo market has been very challenged – but now there seems to be a great turnaround. Have a look at the chart below! (more…)

The annual market report is out at popehandy.REReport.com and we can now learn how 2011 compared to 2010.  The median sales price for houses in Santa Clara County was off 5.3% overall.  But from one part of the valley to the next it varied wildly with 6 cities or areas finding themselves in positive territory while others were off by double digits.

In the image to the left, I’ve put into bold the cities where the median sales price of houses which sold and closed escrow in 2011 were ahead of 2010′s pricing.

What is it that makes Gilroy, Los Altos Hills, Los Gatos, Mountain View and Palo Alto “in the black”?

Most of these cities/towns are upscale, west valley communities.  But so are Saratoga, Cupertino, and Monte Sereno.

Gilroy was especially hard-hit with the housing downturn so perhaps in that case, it’s just coming back into more of a balance. (Then again, so was Morgan Hill and it’s still off by 12%.)

The LinkedIn IPO and others in the Palo Alto area drove prices up for some parts of the housing market nearby and it’s likely that this explains the positive growth for Palo Alto, Mountain View, and Los Altos Hills.  That said, it would seem that Los Altos, and perhaps even Sunnyvale would have seen stronger numbers on the same account.  Perhaps school scores are the key driver here.

Los Gatos, Saratoga and Monte Sereno often behave somewhat similarly as they are adjacent to one another and often attract similar home buyers who want good schools, a nice downtown area nearby and scenic beauty with the hills.  The annual numbers show Monte Sereno down 6.7%, Saratoga down 2% but Los Gatos up 6.4%.  With Monte Sereno, there are very few sales each month and each year (only about 4,000 residents), so there can be a wider swing without it necessarily being accurate. Saratoga and Los Gatos each have about 30,000 people who call these areas home, though, so the data is much more helpful.  Saratoga and Los Gatos both have multiple school districts, views, homes with better proximity to “downtown” and more variables – I think we’d have to dig a lot deeper to learn why these two neighboring markets are so diverse.  We might also have to look at multiple years of data to see if Saratoga spiked while LG slumped to explain the difference. (more…)

AreaVibes.com ranks cities all over the United States and recently came out with the top 100 for California.  Many of our Silicon Valley cities and towns made the grade!

• Los Altos Hills # 3
• Monte Sereno #  6
• Los Altos # 8
• Saratoga #  9
• Palo Alto #  10
• Foster City # 11
• Cupertino # 26
• Mountain View # 27
• Belmont # 29
• San Carlos # 35
• Menlo Park # 38
• Woodside # 46
• Portola Valley # 50
• Atherton # 64
• Los Gatos # 67
• Sunnyvale # 82
• Scotts Valley # 89
• Daly City # 96

They called the Loyola area of Los Altos a city and it was on this list too (# 39 ) but it is only a district, not a city or town. Surprising, then, that they didn’t include Almaden Valley (part of San Jose) or other nice districts as well.

To see the entire list, please visit their website:
http://www.areavibes.com/best-places/california/

Today we’re looking at the real estate market for houses in some of the “west valley” communities along the base of the Santa Cruz Mountains – areas where schools are good, crime is low, residents enjoy scenic views of the hills (or of the valley from the hills, depending on the location) and overall, a highly educated population not too far from Highway 85.

Of the four municipalities, three are really very similar to each other in several regards.  Cupertino has the largest population – about 58,000 people – but Los Altos, Los Gatos and Saratoga are all similarly sized, somewhere between 27,000 and 30,000 residents.  The latter three also enjoy a traditional “downtown” area which is popular with pedestrians, bicyclists and motorists alike. (Monte Sereno has 4,000 residents, which is so small that the statistics are very easily thrown from month to month, so it is omitted in this quick study.)  Of the four, Cupertino, then, is the least similar due to size and lack of a central downtown area.

We’ll take a quick look at these areas now in terms of the real estate market trends and statistics for each area, considering just “class 1″ (houses and duet homes).  The charts used below are from Altos Research, to which I have a subscription, and they will be automatically updated each week.

(1) Median List Price (per Altos Research):

Los Altos and Saratoga are neck and neck for most expensive areas in which to purchase a house. Over the last year, though, Los Altos has seen a rise in the median list price. There has been a corresponding rise in demand with the success of several local companies in the region (Apple, Google, Microsoft, LinkedIn, Facebook), some of which have gone public and others of which are on the verge of doing so. Los Altos is more convenient to most of these.

Los Gatos, which is a little more affordable than Saratoga and Los Altos, has seen a very noticeable increase in pricing also, while Cupertino’s prices have declined a little.

(1A) Median list price of the bottom quartile of all four:

(1B) And, very interestingly, same data but for the top quartile – the luxury market:

Here we see Los Altos clearly overtaking Saratoga! And also that Cupertino’s pricing is significantly lower than Los Gatos in this tier, and also that it has lost a lot of ground in the second half of 2011.  (more…)

Halloween is almost here and it is time to get creative! Sereno’s in on the spirit too.   Each year, Sereno Group Real Estate offices in the San Jose and Silicon Valley area have a Halloween pumpkin decorating contest for kids.  Winner’s pumpkins (and names of winners if parental permission is received) will be advertised in our local papers after the contest is finished.

Contest Rules:

No Carving

Decorate your own small pumpkin, or pick up a complimentary pumpkin at one of our offices in Los Gatos, Saratoga, Soquel/Santa Cruz, Los Altos, or Palo Alto.

3 age groups: toddler, early elementary, late elementary

All contestants will receive a gift goodie bag

One grand prize per age group, per office, will be awarded

Any carved or punctured pumpkins will be disqualified due to rotting

All entries must be dropped off at your nearest Sereno Group Office by Friday, October 21st at 5pm.  Judging will happen the week of October 24th during our regular real estate marketing meeting.

Where and when can you drop off a pumpkin?  Please find the office locations and hours below.  We are looking forward to seeing some wonderful kids’ creations!

How’s the market for condos and townhouses in Los Gatos and Saratoga?  This morning I ran the numbers for “area 16″ (the Los Gatos and Monte Sereno areas, which includes a tiny bit of San Jose also) and “area 17″ (the Saratoga area, also includes borderline areas of San Jose and Cupertino) in our multiple listing service.

Hottest are the distressed condominium or townhome sales – short sales and bank owned or REO properties in Los Gatos and Saratoga.  Coldest (hardest to sell) are the “regular sales”.  Buyers are going after the bargain pricing that the pre-foreclosure and foreclosure listings offer.  Have a look:

The months of inventory are longest in Saratoga, with 9 months of inventory for town houses and condos.  The ratio of pending sales to active listings is lowest there, too, a mere 11%.

The months of inventory for Los Gatos short sales is a fast paced one month and the pendings outnumber the actives four to one!

Home buyers: if you are attempting to purchase a distressed condo in either of these high-end west valley areas, be prepared to act fast and present a strong offer.  Your odds will be better with a regular sale!

Home sellers: if you are selling a non-distressed condominium or townhouse in Saratoga or Los Gatos, especially if it’s a luxury property, be prepared to make your home the best value to attract a good buyer.  As has been said elsewhere, for this segment of the real estate market “it’s a price war and a beauty contest”.  Everything has to be just right for you to enjoy a successful sale now.