Sunnyvale Community Services - Annual Christmas Center Auction

Dear Friend,
As you may know, I serve on the Board of Directors and am Treasurer of Sunnyvale Community Services.  Our mission is to prevent homelessness and hunger in our local community.

I’d like to personally invite you to:

·         Sunnyvale Community Services’ (SCS) annual holiday auction

·         5-7:30 p.m. Thursday, December 1^st

·         Location at SCS, 725 Kifer Road, Sunnyvale

The SCS auction features delicious food and beverages, as well as the chance to bid on exciting gifts, all donated by local businesses and friends of SCS!  Auction items include platters of home-made cookies; gift certificates to local restaurants and businesses; gift baskets in diverse themes; tickets to A’s, Giants, and Sharks games; vacations in Cancun and Sonoma County; wine and olive oil tastings; a red Radio Flyer wagon filled with toys; Leslie Lawton’s Luscious Limoncello; a hiking and camping adventure; jewelry; electronics; and group dinners hosted by community leaders!

100% of all proceeds go to provide food and financial support during the holidays and throughout the year.  You can do your holiday shopping and help others at the same time by joining in this fun community event!

For a list of auction items, please visit our website: www.svcommunityservices.org
 
Admission is free, but we ask that you bring a bag of non-perishable food or a new unwrapped gift to donate.  SCS is especially in need of canned meals, peanut butter, gift cards for teens, and gifts for children ages 7-11.  This is a festive night of food, friends, helping out, and having fun, and I would personally love to see you there!
 
If you can’t make it to the holiday auction, you can still help local families by making a financial gift to SCS.  We’re striving to raise more than $500,000 during the holiday season to serve more than 7,000 individuals in the coming year.  Every dollar donated makes a difference, helping to keep struggling families housed and fed.  For example, a gift of $50 keeps a family sheltered for one night, and $1,000 buys 300 jars of protein-rich peanut butter!
 
To donate to SCS or learn more about our services, our clients, or how our funds are used, please visit www.svcommunityservices.org .  I would be delighted to talk with you further about our work. You may also contact Marie Bernard, Executive Director at Sunnyvale Community Services, at 408-738-0121.

Best Wishes for a healthy and happy Holiday Season!

To life's best,

Tom

Tom McEvoy, MBA

Realtor® / Seniors Real Estate Specialist® / Broker Associate

408-830-0092

RE/MAX Santa Clara Valley

1530 Parkmoor Avenue, Suite B

San Jose, CA 95128

DRE #01275853

email: Tom.McEvoy@remax.net  

web: www.ThomasMcEvoy.com

blog: http://behindtherealestatescenes.blogspot.com/  - Market updates and more!

Member, Board of Directors and Treasurer, Sunnyvale Community Services  (www.svcommunityservices.org ) – A non-profit dedicated to preventing hunger and homelessness.

November Silicon Valley Real Estate Market Comments

Here are my observations of the most recent October transactions for Santa Clara County real estate and San Mateo County real estate. Your comments and questions are always welcome. If you see something in your neighborhood that you are curious about or have a question, please don't hesitate to share with us. If you have questions or a comment, please leave them here, or feel free to contact me through my website.

> General Market Observations and Comments -- Closings as well as the number of homes available for sale have decreased these past few months in both counties. Inventory, or the number of single family homes available for sale (supply) has stood at 2,200 in Santa Clara and 1,203 in San Mateo County. These figures are substantially less than those in the year prior. 73% of the inventory in Santa Clara County are traditional and the balance are lender-controlled (short sales 19%; bank-owned/REO's 8%); San Mateo County saw these figures at 77% for traditional, 16% for short sales and 7% for bank-owned/REO's.

Much different with condos/townhouses where 55% in Santa Clara County and 48% in San Mateo County are lender-controlled. Demand continues to point to single family residences (SFR) and away from condos/townhouses so my advice for buyers: if you prefer the life-style of a condo or townhouse, there are better buys possible. Yes, they have homeowner association dues but those often cover additional ownership features and benefits (e.g., some utilities, pool/spa, exercise rooms, and the like). One thing about it is that the owner doesn't have to worry about these items.

As for the available homes for sale -- we're seeing a bifurcated market. How I can tell is that homes available for sale have a median days on market of 69 whereas those homes that closed escrow have a median days on market of just 31. Homes priced well and in good condition, sell quickly and get the most activity (i.e., higher prices, quicker sale). Overpriced homes or those in poor locations or in poor condition (bank-owned or short sale homes are mainly in this category) stay on the market far longer.

Days of unsold inventory (DUI) for Santa Clara County stands at 57 for SFR's, 48 for condos/townhouses. San Mateo County stands at 83 for SFR's and 72 for condos/townhouses.

Days of Unsold Inventory is a calculation I use to gauge whether the market is a Buyer's market, Seller's market or what we call a Balanced market and is the intersection of supply and demand. In Santa Clara County, the Buyer's market exists for those areas above 90 DUI, a Seller's market would have a DUI reading under 45 and a Balanced market exists in between those numbers.

Mortgage rates remain very favorable in the range in the low 4% area. Since most buyers need a loan to purchase a home, mortgage rates are a major consideration in the decision and ability of the buyers to purchase. Even with lowered sales figures, escrow companies seem to be busy with loan refinance or refi activity.

For October, SFR median prices, half above and half below, stood at $550,000 and $675,000 for Santa Clara and San Mateo counties, respectively. Condos/townhouses stood at $316,500 and $355,000, respectively.

Thanks for reading my blog. I'm Tom McEvoy, Realtor with RE/MAX Santa Clara Valley -- Let me know your comments, questions, observations you may have or any future topics you'd like me to address.

Perfect First Home in Serene Santa Clara Neighborhood

See the full gallery on Posterous

 

1746 Oswald Place, Santa Clara, CA 95051

3 Bedrooms, 2 Full Baths, 1,283 SF Living Space on 5,670 SF lot

Offered at: $552,000

Home features several improvements but waiting for your personal touch/décor. Formal entry opens to great room, open floor plan with hardwood floors and cozy, wood-burning fireplace. Fresh interior paint and newer updates in kitchen, baths. Backyard with spacious patio, perfect for entertaining and your family gatherings. Peaceful, away from San Tomas and El Camino traffic.                                                                                                        Santa Clara Schools: Bowers Elementary; Cabrillo Middle; Wilcox High School.

 

    SEE OUR VIRTUAL TOUR AT:  http://www.circlepix.com/home/ 8X32FE

Open Houses:

Saturday, November 12, 2011 -- 1:00pm to 4:00pm

Sunday, November 13, 2011 -- 1:00pm to 4:00pm

 

For more information, call or email:

TOM McEVOY, MBA

REALTOR® / BROKER ASSOCIATE / 

 

SENIORS REAL ESTATE SPECIALIST®

 

RE/MAX Santa Clara Valley

408-830-0092

Tom.McEvoy@remax.net

Information believed to be accurate but not guaranteed.

Each office is Independently Owned and Operated

   

 

 

39th Annual Sunnyvale Community Services Holiday Affaire

Please join us at this special annual event sponsored by Sunnyvale Community Services (SCS). Many items including ornaments, quilts, baked goods, jams, knit and crocheted items, jewelry, gifts and more will be available. 100% of the proceeds benefit SCS. We thank the SCS Auxiliary for donating their time, energy and creativity to make this happen each year!

WHERE: Sunnyvale Community Services, 725 Kifer Road, Sunnyvale, CA 94086

WHEN: Saturday, October 22nd from 9:30am to 3:30pm

Sunnyvale Community Services is a non-profit organization who's mission is to prevent homelessness and hunger in Sunnyvale. I am a proud member of the Board of Directors and Treasurer of SCS.

Wonderful Birdland Sunnyvale Home with Cupertino Schools

New on Market...

 

1657 Heron Avenue, Sunnyvale, CA 94087 // List price: $758,000

Open Houses: Saturday, October 1st and Sunday, October 2nd --

both days 1:30pm - 4:30pm

Features: 3 bedrooms, 2 full baths, 1,417 SF of living space, lot 6,300 SF

 

Home features several improvements but ready for your personal touch/décor. Living room with freshly finished hardwood floor and cozy, wood-burning fireplace. Step-down family room with fireplace. Fresh paint, flooring and some new windows. Professionally landscaped new front yard. Large backyard with spacious patio, perfect for entertaining and your family gatherings. Award winning Cupertino schools including Stocklmeir Elem., Cupertino Middle; Fremont HS.

For additional information or to arrange a showing, please call:

Tom McEvoy, MBA

Realtor / Seniors Real Estate Specialist / Broker Associate

RE/MAX Santa Clara Valley

408-830-0092

DRE#01275853

 Copy this link and Take a Virtual Tour: http://www.circlepix.com/home/N4BHJK

 

See the full gallery on Posterous

 

 
 

 

July Silicon Valley Real Estate Market Comments

Here are my observations of the most recent June transactions for Santa Clara County real estate and San Mateo County real estate. Your comments and questions are always welcome. If you see something in your neighborhood that you are curious about or have a question, please don't hesitate to share with us. If you have questions or a comment, please leave them here, or feel free to contact me through my website.

> General Market Observations and Comments -- Closings continue to increase in both counties but the level remains below the average of the past ten Junes. The "market" seems like it is bipolar. There is one portion of well-priced, good condition homes that sell quickly and those others which are over-priced or have other issues like poor condition that linger on the market for a long time. Inventory, or the number of homes available for sale (supply) has increased but it, too, continues to grow at a slower rate than the ten-year average.

Buyer demand continues to point to single family residences (SFR) and away from condos/townhouses. This is especially evident for First Time Buyers as well as Investors. About a third of all transactions are for all cash. I continue to advise buyers that if there is a preference for the life-style of a condo or townhouse, there are better buys possible and buyers can have more advantages than sellers. Yes, condos and townhouses have homeowner association dues, of course, that often cover additional ownership features and benefits (e.g., utilities, pool/spa, exercise rooms, and the like) but the owner doesn't have to worry about mowing the lawn!

Of the 1,128 Santa Clara County single family homes that closed escrow in June, 50% sold in 22 days! One of my closings last month was a Sunnyvale home on the market just six days. It sold comfortably above list price. Another of my closings, a Santa Clara home in a nice neighborhood sold in about a month for 6% under list price.

The northwest quadrant of Santa Clara County continued to be the hottest market area, as was the case last month. The area comprises the cities of Mountain View, Los Altos and Palo Alto. This area had the lowest DUI reading in Santa Clara County of just 37 days, clearly a seller's market. Next door, Sunnyvale and Cupertino had a DUI of 50, balanced to seller's market. Some of us are calling this the "Facebook" effect. By contrast, the DUI for the expensive Los Altos Hills is 153, clearly indicating a buyer's market.

Days of unsold inventory (DUI) for Santa Clara County by price range is interesting. Overall, the DUI reading was 60, up slightly from last month of 58. The DUI for homes priced under $450,000 was just 35 days; those priced from $450,000-600,000 was 59 days; those priced from $600,000-750,000 was 74 days; from $750,000 to $1 million was 66 days; from $1.0 million to $2.5 million was 74 days; from $2.5 million to $5.0 million jumped to 225 days and finally, those priced above $5.0 million was 1,330 days! Clearly, the higher priced homes in both counties may have to undergo more aggressive price concessions to move in this bipolar market environment. One of my clients leased a new, never-been-lived-in Hillsborough home a bit more than two years old that the owner tried to sell ever since he completed the construction. List price was $4.8 million and the home never had a price adjustment during the entire time on the market!

Days of Unsold Inventory is an indicator I use to gauge whether the market is a Buyer's market, Seller's market or what we call a Balanced market. In Santa Clara County, the Buyer's market are for those areas above 90 DUI a Seller's market would have a DUI reading under 45. Balanced markets are those in between.

Mortgage rates remain very favorable in the range in the high 4% to about 5% range. Since most buyers need a loan to purchase a home, mortgage rates are a major consideration in the decision and ability of the buyers to purchase.

Thanks for reading my blog. I'm Tom McEvoy, Realtor with RE/MAX Santa Clara Valley -- Let me know your comments, questions, observations you may have or any future topics you'd like me to address.

June Silicon Valley Real Estate Market Comments

Here are my observations of the most recent May transactions for Santa Clara County real estate and San Mateo County real estate. Your comments and questions are always welcome. If you see something in your neighborhood that you are curious about or have a question, please don't hesitate to share with us. If you have questions or a comment, please leave them here, or feel free to contact me through my website.

> General Market Observations and Comments -- Closings increased a bit more in May than in April but continues to be less than the average May over the past ten years. Inventory, or the number of homes available for sale (supply) has increased but it, too, continues to grow at a slower rate than the ten-year average.

Demand continues to point to single family residences (SFR) and away from condos/townhouses. My advice for buyers: if you prefer the life-style of a condo or townhouse, there are better buys possible. Yes, they have homeowner association dues that often cover additional ownership features and benefits (e.g., utilities, pool/spa, exercise rooms, and the like) but the owner doesn't have to worry about it.

As for the available homes for sale -- we're seeing a bipolar market. Homes priced well and in good condition, sell quickly and get the most activity (i.e., higher prices, quicker sale). Overpriced homes or those in poor locations or in poor condition (bank-owned or short sale homes are mainly in this category) stay on the market far longer and eventually sell with lower prices or as "fixer uppers" or "fix and flips".

As was the case last month, one of the hot markets was the area comprising the cities of Mountain View, Los Altos and Palo Alto. This area had the lowest DUI reading in Santa Clara County of just 37 days, clearly a seller's market. Next door, Sunnyvale and Cupertino had a DUI of 50, balanced to seller's market. Some of us are calling this the "Facebook" effect. By contrast, the DUI for Los Altos Hills is 153, clearly indicating a buyer's market.

Days of unsold inventory (DUI) for Santa Clara County by price range is interesting. Overall, the DUI reading was 58. The DUI for homes priced under $450,000 was just 35 days; those priced from $450,000-600,000 was 59 days; those priced from $600,000-750,000 was 74 days; from $750,000 to $1 million was 66 days; from $1.0 million to $2.5 million was 74 days; from $2.5 million to $5.0 million jumped to 225 days and finally, those priced above $5.0 million was 1,330 days! Clearly, the higher priced homes may have to undergo more aggressive price concessions to move in this bipolar market environment.

Days of Unsold Inventory is an indicator I use to gauge whether the market is a Buyer's market, Seller's market or what we call a Balanced market. In Santa Clara County, the Buyer's market are for those areas above 90 DUI a Seller's market would have a DUI reading under 45. Balanced markets are those in between.

Reversal for Reverse Mortgages -- Wells Fargo, following Bank of America's lead a couple of months ago, announced they were leaving this market. This means that the two large banks controlling 50% of this market left! This does not bode well for the future as less competition means even higher rates and fees, something not pleasant for the consumer. Reverse mortgages were inherently high-cost items to begin with and in the past I've recommended clients being extremely careful of them. In theory reverse mortgages were good but more difficult certainly in practice.

Mortgage rates remain very favorable in the range in the high 4's. Since most buyers need a loan to purchase a home, mortgage rates are a major consideration in the decision and ability of the buyers to purchase.

Thanks for reading my blog. I'm Tom McEvoy, Realtor with RE/MAX Santa Clara Valley -- Let me know your comments, questions, observations you may have or any future topics you'd like me to address.

May Silicon Valley Real Estate Market Comments

Here are my observations of the most recent April transactions for Santa Clara County real estate and San Mateo County real estate. Your comments and questions are always welcome. If you see something in your neighborhood that you are curious about or have a question, please don't hesitate to share with us. If you have questions or a comment, please leave them here, or feel free to contact me through my website at www.thomasmcevoy.com .

> General Market Observations and Comments -- Closings increased a bit more in April than in March, indicating continued strength in the various real estate markets in Silicon Valley. Inventory, or the number of homes available for sale (supply) has increased but it continues to grow at a slower rate than the average of the past ten years.

Demand continues to point to single family residences (SFR) and away from condos/townhouses. My advice for buyers: if you prefer the life-style of a condo or townhouse, there are better buys possible. Yes, they have homeowner association dues that often cover additional ownership features and benefits (e.g., utilities, pool/spa, exercise rooms, and the like) but the owner doesn't have to worry about it.

As for the available homes for sale -- we're seeing a bipolar market. Homes priced well and in good condition, sell quickly and get the most activity (i.e., higher prices, quicker sale). Overpriced homes or those in poor locations or in poor condition stay on the market far longer and eventually sell with lower prices or as "fixer uppers" or "fix and flips".

Last month, I stated that one of the hot markets was the area comprising the cities of Mountain View, Los Altos and Palo Alto. For April, this continued to occur but the market with the fewest days of unsold inventory was Sunnyvale and Cupertino. The DUI reading was only 34, clearly a Seller's market! My most recent Sunnyvale listing in the Cupertino Schools attendance area garnered about 200 people in a single weekend of open houses and sold in six days, above list price. This home listed above $1 million.

Days of unsold inventory (DUI) by price range is interesting. The DUI for homes priced under $450,000 was just 32 days; those priced from $450,000-600,000 was 56 days; those priced from $600,000-750,000 was 75 days; from $750,000 to $1 million was 67 days; from $1.0 million to $2.5 million was 73 days; from $2.5 million to $5.0 million jumped to 325 days and finally, those priced above $5.0 million was 443 days. Clearly, the higher priced homes may have to undergo more aggressive price concessions to move in this bipolar market environment.

Days of Unsold Inventory is an indicator I use to gauge whether the market is a Buyer's market, Seller's market or what we call a Balanced market. In Santa Clara County, the Buyer's market are for those areas above 90 DUI a Seller's market would have a DUI reading under 45. Balanced markets are those in between.

Mortgage rates remain in a very favorable range in the high 4's, actually decreased from last month. Since most buyers need a loan to purchase a home, mortgage rates are a major consideration in the decision and ability of the buyers.

Since there were continued problems obtaining accurate detailed statistical information on April transactions, I thought to at least provide you some of my observations. I'm available for consultation if you are seeking marketing intelligence and strategies as you firm up your real estate plans.

Thanks for reading my blog. I'm Tom McEvoy, Realtor with RE/MAX Santa Clara Valley -- Let me know your comments, questions, observations you may have or any future topics you'd like me to address.

May Silicon Valley Real Estate Market Comments

Here are my observations of the most recent April transactions for Santa Clara County real estate and San Mateo County real estate. Your comments and questions are always welcome. If you see something in your neighborhood that you are curious about or have a question, please don't hesitate to share with us. If you have questions or a comment, please leave them here, or feel free to contact me through my website at www.thomasmcevoy.com .

> General Market Observations and Comments -- Closings increased a bit more in April than in March, indicating continued strength in the various real estate markets in Silicon Valley. Inventory, or the number of homes available for sale (supply) has increased but it continues to grow at a slower rate than the average of the past ten years.

Demand continues to point to single family residences (SFR) and away from condos/townhouses. My advice for buyers: if you prefer the life-style of a condo or townhouse, there are better buys possible. Yes, they have homeowner association dues that often cover additional ownership features and benefits (e.g., utilities, pool/spa, exercise rooms, and the like) but the owner doesn't have to worry about it.

As for the available homes for sale -- we're seeing a bipolar market. Homes priced well and in good condition, sell quickly and get the most activity (i.e., higher prices, quicker sale). Overpriced homes or those in poor locations or in poor condition stay on the market far longer and eventually sell with lower prices or as "fixer uppers" or "fix and flips".

Last month, I stated that one of the hot markets was the area comprising the cities of Mountain View, Los Altos and Palo Alto. For April, this continued to occur but the market with the fewest days of unsold inventory was Sunnyvale and Cupertino. The DUI reading was only 34, clearly a Seller's market! My most recent Sunnyvale listing in the Cupertino Schools attendance area garnered about 200 people in a single weekend of open houses and sold in six days, above list price. This home listed above $1 million.

Days of unsold inventory (DUI) by price range is interesting. The DUI for homes priced under $450,000 was just 32 days; those priced from $450,000-600,000 was 56 days; those priced from $600,000-750,000 was 75 days; from $750,000 to $1 million was 67 days; from $1.0 million to $2.5 million was 73 days; from $2.5 million to $5.0 million jumped to 325 days and finally, those priced above $5.0 million was 443 days. Clearly, the higher priced homes may have to undergo more aggressive price concessions to move in this bipolar market environment.

Days of Unsold Inventory is an indicator I use to gauge whether the market is a Buyer's market, Seller's market or what we call a Balanced market. In Santa Clara County, the Buyer's market are for those areas above 90 DUI a Seller's market would have a DUI reading under 45. Balanced markets are those in between.

Mortgage rates remain in a very favorable range in the high 4's, actually decreased from last month. Since most buyers need a loan to purchase a home, mortgage rates are a major consideration in the decision and ability of the buyers.

Since there were continued problems obtaining accurate detailed statistical information on April transactions, I thought to at least provide you some of my observations. I'm available for consultation if you are seeking marketing intelligence and strategies as you firm up your real estate plans.

Thanks for reading my blog. I'm Tom McEvoy, Realtor with RE/MAX Santa Clara Valley -- Let me know your comments, questions, observations you may have or any future topics you'd like me to address.

April Silicon Valley Real Estate Market Comments

Here are my observations of the most recent March transactions for Santa Clara County real estate and San Mateo County real estate. Your comments and questions are always welcome. If you see something in your neighborhood that you are curious about or have a question, please don't hesitate to share with us. If you have questions or a comment, please leave them here, or feel free to contact me through my website at www.thomasmcevoy.com .

> General Market Observations and Comments -- Closings turned up sharply in March, indicating much stronger markets in Silicon Valley. Additionally, the amount of homes available for sale (supply) has increased as it usually does in the last winter, early spring. However, what's different is that the rate of increase is lower than the average over the last ten years.

Demand continues to point to single family residences (SFR) and away from condos/townhouses. My advice for buyers: if you prefer the life-style of a condo or townhouse, there are better buys possible. Yes, they have homeowner association dues that often cover additional ownership features and benefits (e.g., utilities, pool/spa, exercise rooms, and the like) but the owner doesn't have to worry about it.

As for the available homes for sale -- we're seeing a bipolar market. Homes priced well and in good condition, sell quickly and get the most activity (i.e., higher prices, quicker sale). Overpriced homes or those in poor locations or in poor condition stay on the market far longer and eventually sell with lower prices or as "fixer uppers" or "fix and flips".

Last month, I stated that one of the hot markets was the area comprising the cities of Mountain View, Los Altos and Palo Alto. This continues to occur but has spilled out to include some adjacent areas. One case involves Sunnyvale, where homes in the Cupertino school attendance area are selling rather quickly with multiple offers if they are good values and in good condition. These include those with list prices above $1 million.

Mortgage rates remain in the high 4 to low 5% range. Certainly this is positive inducement for buyer's home affordability. If rates go to 5 1/2%, that would be equivalent to a 10% increase in the price in terms of affordability. Those buyers needing financing could be forced to "buy down" or not buy at all if rates should seek higher ground.

Since there were problems obtaining accurate detailed statistical information on March transactions, I thought to at least provide you some of my observations. I'm available for consultation if you are seeking marketing intelligence and strategies as you firm up your real estate plans.

Thanks for reading my blog. I'm Tom McEvoy, Realtor with RE/MAX Santa Clara Valley -- Let me know your comments, questions, observations you may have or any future topics you'd like me to address.

April Silicon Valley Real Estate Market Comments

Here are my observations of the most recent March transactions for Santa Clara County real estate and San Mateo County real estate. Your comments and questions are always welcome. If you see something in your neighborhood that you are curious about or have a question, please don't hesitate to share with us. If you have questions or a comment, please leave them here, or feel free to contact me through my website.

> General Market Observations and Comments -- Closings turned up sharply in March, indicating much stronger markets in Silicon Valley. Additionally, the amount of homes available for sale (supply) has increased as it usually does in the last winter, early spring. However, what's different is that the rate of increase is lower than the average over the last ten years.

Demand continues to point to single family residences (SFR) and away from condos/townhouses. My advice for buyers: if you prefer the life-style of a condo or townhouse, there are better buys possible. Yes, they have homeowner association dues that often cover additional ownership features and benefits (e.g., utilities, pool/spa, exercise rooms, and the like) but the owner doesn't have to worry about it.

As for the available homes for sale -- we're seeing a bipolar market. Homes priced well and in good condition, sell quickly and get the most activity (i.e., higher prices, quicker sale). Overpriced homes or those in poor locations or in poor condition stay on the market far longer and eventually sell with lower prices or as "fixer uppers" or "fix and flips".

Last month, I stated that one of the hot markets was the area comprising the cities of Mountain View, Los Altos and Palo Alto. This continues to occur but has spilled out to include some adjacent areas. One case involves Sunnyvale, where homes in the Cupertino school attendance area are selling rather quickly with multiple offers if they are good values and in good condition. These include those with list prices above $1 million.

Mortgage rates remain in the high 4 to low 5% range. Certainly this is positive inducement for buyer's home affordability. If rates go to 5 1/2%, that would be equivalent to a 10% increase in the price in terms of affordability. Those buyers needing financing could be forced to "buy down" or not buy at all if rates should seek higher ground.

Since there were problems obtaining accurate statistical information on March transactions, I thought to at least provide you some of my observations. I'm available for consultation if you are seeking marketing intelligence and strategies as you gel your real estate plans.

Thanks for reading my blog. I'm Tom McEvoy, Realtor with RE/MAX Santa Clara Valley -- Let me know your comments, questions, observations you may have or any future topics you'd like me to address.

March Silicon Valley Real Estate Market Highlights

Here are the highlights of February transactions and market comments for Santa Clara County real estate and San Mateo County real estate. Your comments and questions are always welcome. If you see something in your neighborhood that you are curious about or have a question, please don't hesitate to share with us. If you have questions or a comment, please leave them here, or feel free to contact me through my website.

> Market Overview -- The decrease in the amount of closed sales in both counties continues, an indicator of slowing markets. Closings of single family residences (SFR) in Santa Clara County decreased slightly from last month to 632 at match the level of the same month a year ago. For San Mateo County, SFR closings were 221, down from 234 last month and down from 230 from the same month a year ago. My analysis of the transactional information reveals:

* The supply of single family residences available for sale (inventory) in Santa Clara County, increased to 2,417 from 2,335 and is 10.1% higher than the same month a year ago. Similarly, we saw San Mateo County's inventory jump to 1,158 from 1,088 last month and was 18.2% higher than the same month a year ago. Keep in mind that many sellers remove their homes from the marketplace at the end of the year so this is not unexpected to see an increase into the first part of a year. The rate of increase is not too steep so that portends a more positive market environment. Generally, inventory is about on track with the ten-year average -- not too high or not too low. Against this backdrop, the market continues more positive in Santa Clara County than in San Mateo County.

* 46.5% of sellers in Santa Clara County get at least list price for their homes! In San Mateo County, the corresponding percentage is 43.9%. This is another indicator that the overall market remains stronger in Santa Clara County. Also, these indicators have perked up a bit in each county.

* Days of Unsold Inventory (DUI), continues to move lower making for a more positive market in both counties. We watch this important indicator closely to provide insight into how the market is handling demand and supply. DUI is a calculation using both supply and demand so is not an opinion. A higher figure for DUI, then, means the market is becoming weaker. For February, Santa Clara County had a DUI of 56 for SFR's, down from 62, 58 for condos/townhouses, down from 64 and 99 for multi-unit properties, up slightly from 95. San Mateo County had a DUI for SFR's of 71 down from 85 last month, 87 for condos/townhouses down from 103. Once again, all readings continue to point to a more positive market for Santa Clara County.

> Seller Markets? -- For Santa Clara County the hottest (seller) market areas are Santa Teresa, South San Jose, and East Valley portions of San Jose followed by the market area comprising Mountain View, Los Altos and Palo Alto. For San Mateo County, there were again NO hot markets! A seller's market has characteristics of a shorter time on the market, fewer number of homes available for sale, higher demand by buyers along with a tendency for multiple offers and sale prices generally exceeding list prices. A seller's market area has a potential of price appreciation.

> Buyer's Markets? -- For Santa Clara County, we see buyer's markets in the Willow Glen area of San Jose and Campbell. Willow Glen is currently my "Best Buy" area in the county. For San Mateo County, we see buyer's markets in Foster City/Redwood Shores and especially the San Mateo Coast cities. The "Bay Cities" of San Mateo County like San Mateo, Redwood City, etc. are a bit cool. What makes a buyer's market is the relationship of supply to demand -- simply put as higher supply relative to demand, the area will have the characteristics of a longer time on the market, higher number of homes available for sale, lower demand by buyers which translates into a lower probability of multiple offers and a tendency for price stabilization or even price depreciation. We see buyer's market areas have price reductions before a buyer makes an offer.

Where do I get "Seller's" and "Buyer's" market information? This is not based on price levels but a calculation I make using the number of homes for sale (supply) and the number of sales (demand) in the prior month which results in days of unsold inventory (DUI).

> Median prices have moved lower in Santa Clara County but increased in San Mateo County -- The median price for SFR's in Santa Clara County has decreased for the last several months. It now stands at $530,000, versus $532,000, or a 0.4% decrease from last month and a decrease of 4.0% from the same month a year ago. The median price for condos/townhouses was unavailable due to incomplete data. San Mateo County's median price for SFR's was $640,000, up 8.5% from $590,000 last month and down 2.3% from the same month a year ago. The median price for San Mateo County condo/townhouses was $372,500, up 1.4% from $367,500 last month and down 1.7% from the same month a year ago. I continue to advise my clients NOT to use an entire county's median price level to decide whether to buy or sell or time the market as market areas within each county differ. For instance, I see divergences in the different market areas in each county so these are general statements. Ask me to provide you with how your area compares.

> $5+ million sales return! -- More rare is the fact that there are now some high end transactions that have taken place in Santa Clara and San Mateo counties. Matter of fact, there were 7 sales in each county last month. I use this as a leading indicator of market conditions which have swung to positive in other price ranges as well.

Need help with understanding the market in your area? For instance, how can there be a difference between the relatively hot market conditions in Los Altos and Palo Alto but very cool market conditions in Campbell? Give me a call or email me for a no-obligation consultation and research to arm you with market intelligence to help you make a better, more-informed decision.

Thanks for reading my blog. I'm Tom McEvoy, Realtor with RE/MAX Santa Clara Valley -- Let me know your comments, questions, observations you may have or any future topics you'd like me to address.

March Silicon Valley Real Estate Market Highlights

Here are the highlights of February transactions and market comments for Santa Clara County real estate and San Mateo County real estate. Your comments and questions are always welcome. If you see something in your neighborhood that you are curious about or have a question, please don't hesitate to share with us. If you have questions or a comment, please leave them here, or feel free to contact me through my website.

> Market Overview -- The decrease in the amount of closed sales in both counties continues, an indicator of slowing markets. Closings of single family residences (SFR) in Santa Clara County decreased slightly from last month to 632 at match the level of the same month a year ago. For San Mateo County, SFR closings were 221, down from 234 last month and down from 230 from the same month a year ago. My analysis of the transactional information reveals:

* The supply of single family residences available for sale (inventory) in Santa Clara County, increased to 2,417 from 2,335 and is 10.1% higher than the same month a year ago. Similarly, we saw San Mateo County's inventory jump to 1,158 from 1,088 last month and was 18.2% higher than the same month a year ago. Keep in mind that many sellers remove their homes from the marketplace at the end of the year so this is not unexpected to see an increase into the first part of a year. The rate of increase is not too steep so that portends a more positive market environment. Generally, inventory is about on track with the ten-year average -- not too high or not too low. Against this backdrop, the market continues more positive in Santa Clara County than in San Mateo County.

* 46.5% of sellers in Santa Clara County get at least list price for their homes! In San Mateo County, the corresponding percentage is 43.9%. This is another indicator that the overall market remains stronger in Santa Clara County. Also, these indicators have perked up a bit in each county.

* Days of Unsold Inventory (DUI), continues to move lower making for a more positive market in both counties. We watch this important indicator closely to provide insight into how the market is handling demand and supply. DUI is a calculation using both supply and demand so is not an opinion. A higher figure for DUI, then, means the market is becoming weaker. For February, Santa Clara County had a DUI of 56 for SFR's, down from 62, 58 for condos/townhouses, down from 64 and 99 for multi-unit properties, up slightly from 95. San Mateo County had a DUI for SFR's of 71 down from 85 last month, 87 for condos/townhouses down from 103. Once again, all readings continue to point to a more positive market for Santa Clara County.

> Seller Markets? -- For Santa Clara County the hottest (seller) market areas are Santa Teresa, South San Jose, and East Valley portions of San Jose followed by the market area comprising Mountain View, Los Altos and Palo Alto. For San Mateo County, there were again NO hot markets! A seller's market has characteristics of a shorter time on the market, fewer number of homes available for sale, higher demand by buyers along with a tendency for multiple offers and sale prices generally exceeding list prices. A seller's market area has a potential of price appreciation.

> Buyer's Markets? -- For Santa Clara County, we see buyer's markets in the Willow Glen area of San Jose and Campbell. Willow Glen is currently my "Best Buy" area in the county. For San Mateo County, we see buyer's markets in Foster City/Redwood Shores and especially the San Mateo Coast cities. The "Bay Cities" of San Mateo County like San Mateo, Redwood City, etc. are a bit cool. What makes a buyer's market is the relationship of supply to demand -- simply put as higher supply relative to demand, the area will have the characteristics of a longer time on the market, higher number of homes available for sale, lower demand by buyers which translates into a lower probability of multiple offers and a tendency for price stabilization or even price depreciation. We see buyer's market areas have price reductions before a buyer makes an offer.

Where do I get "Seller's" and "Buyer's" market information? This is not based on price levels but a calculation I make using the number of homes for sale (supply) and the number of sales (demand) in the prior month which results in days of unsold inventory (DUI).

> Median prices have moved lower in Santa Clara County but increased in San Mateo County -- The median price for SFR's in Santa Clara County has decreased for the last several months. It now stands at $530,000, versus $532,000, or a 0.4% decrease from last month and a decrease of 4.0% from the same month a year ago. The median price for condos/townhouses was unavailable due to incomplete data. San Mateo County's median price for SFR's was $640,000, up 8.5% from $590,000 last month and down 2.3% from the same month a year ago. The median price for San Mateo County condo/townhouses was $372,500, up 1.4% from $367,500 last month and down 1.7% from the same month a year ago. I continue to advise my clients NOT to use an entire county's median price level to decide whether to buy or sell or time the market as market areas within each county differ. For instance, I see divergencies in the different market areas in each county so these are general statements. Ask me to provide you with how your area compares.

> $5+ million sales return! -- More rare is the fact that there are now some high end transactions that have taken place in Santa Clara and San Mateo counties. Matter of fact, there were 7 sales in each county last month. I use this as a leading indicator of market conditions which have swung to positive in other price ranges as well.

Need help with understanding the market in your area? For instance, how can there be a difference between the relatively hot market conditions in Los Altos and Palo Alto but very cool market conditions in Campbell? Give me a call or email me for a no-obligation consultation and research to arm you with market intelligence to help you make a better, more-informed decision.


Thanks for reading my blog. I'm Tom McEvoy, Realtor with RE/MAX Santa Clara Valley -- Let me know your comments, questions, observations you may have or any future topics you'd like me to address.

World Class Chocolates in the Valley of Hearts Delight

You've made dinner reservations at a romantic restaurant (I did at Birk's Restaurant in Santa Clara, CA) and you might have picked up a little something for her at her favorite store, perhaps even some nice long-stems. Of course, there's always sweets for your sweets for Valentine's Day.


Here is a selection of some world class chocolatiers from Palo Alto, Sunnyvale, Saratoga, Los Gatos and Santa Cruz:


Chocolate Dream Box - Handcrafted European style chocolates specializing in gifts for holidays such as Valentine's Day

* 710 Blossom Hill Road, Los Gatos. 408-356-2626


Fleur e Cocoa Patisserie Chocolaterie - Offering cakes, pastries, chocolates, light lunch & more

39 N. Santa Cruz Avenue, Los Gatos. 408-354-3574


Richard Donnelly Chocolates - Handmade, award winning chocolates

* 1509 Mission Street, Santa Cruz. 888-685-1871


Saratoga Chocolates
* 14572-B Big Basin Way, Saratoga. 408-872-1431


Chocolatier Desiree - Featuring Belgian chocolates

* 165 South Murphy Avenue, #C, Sunnyvale, CA 94086 408-289-1562


Shokolaat - Fine dining with a special Valentine's Day menu

* 516 University Avenue, Palo Alto. 650-289-0719


Sugar Butter Flour - Desserts, chocolates & more

* 669 S. Bernardo Avenue, Sunnyvale. 408-732-8597





How About Wine with Chocolate? Selections from Los Gatos and San Jose...

Testarossa Vineyards
Testarossa Vineyards (formerly Novitiate Winery) is hosting a wine and chocolate pairing event on Saturday, February 12th and Sunday, February 13th from 12:00pm to 4:00pm. Check their details on their website.

J. Lohr Winery
Brunch Sunday, February 13th catered by Jeffreys 11:00am - 1:00pm




Happy Valentine's Day!

February Silicon Valley Real Estate Market Highlights

Here are the highlights of January transactions and market comments for Santa Clara County real estate and San Mateo County real estate. Your comments and questions are always welcome. If you see something in your neighborhood that you are curious about or have a question, please don't hesitate to share with us. If you have questions or a comment, please leave them here, or feel free to contact me through my website.

> Market Overview -- The last several months has seen a continual decrease in the amount of sales in both counties, an indicator of slowing markets and something we see each year as we enter the holiday and winter season. Closings of single family residences (SFR) in Santa Clara County decreased from last month to 640 from 951 but was 7.9% higher than the same month a year ago. For San Mateo County, SFR closings were 234, down from 370 last month and up 0.9% from the same month a year ago. My analysis of the transactional information reveals:

* The supply of single family residences available for sale (inventory) in Santa Clara County, jumped to 2,335 homes from 2,228 and is 23.7% higher than the same month a year ago. Similarly, we saw San Mateo County's inventory jump to 1,088 homes from 983 and was 33.8% higher than the same month a year ago. Keep in mind that many sellers remove their homes from the marketplace at the end of the year so this is not unexpected to see an increase into January. Generally, inventory is about on track with the ten-year average. Against this backdrop, the market continues more positive in Santa Clara County than in San Mateo County.

* More than 40% of sellers in Santa Clara County get at least list price for their homes! In San Mateo County, the corresponding percentage is a bit over 37%. This is another indicator that the overall market remains stronger in Santa Clara County. Also, these indicators have drifted lower but perked up a bit in January in each county.

* Days of Unsold Inventory (DUI), after a recent upswing has resumed a move lower. If this positive trend continues, it could portend a market that is gaining strength and could point to more positive market conditions later in the year. We watch this important indicator closely. As we have discussed, DUI is a calculation using both supply and demand so not an opinion. A higher figure for DUI, then, means the market is becoming weaker. For January, Santa Clara County had a DUI of 60 for SFR's, down from 77, 64 for condos/townhouses, down from 88 and 94 for multi-unit properties, down from 128. San Mateo County had a DUI reading of 85 (down from 106) for SFR's, 107 (down from 140) for condos/townhouses. Once again, all readings continue to point to a more positive market for Santa Clara County.

> Seller Markets? -- For Santa Clara County the hottest (seller) market areas are South San Jose, Santa Teresa and East Valley portions of San Jose. For San Mateo County, there were NO hot markets! A seller's market has shorter time on the market, fewer number of homes available for sale, higher demand by buyers with a tendency to have multiple offers and sale prices generally exceeding list prices with a potential of price appreciation.

> Buyer's Markets? -- For Santa Clara County, we see buyer's markets in Los Gatos, Saratoga and Campbell. Los Gatos is currently my "Best Buy" area in the county. For San Mateo County, we see buyer's markets in Foster City/Redwood Shores and especially the San Mateo Coast cities. The "Bay Cities" of San Mateo County like San Mateo, Redwood City, etc. are a bit cool right now. What makes a "buyers" market is the relationship of supply to demand -- simply put as higher supply and lower demand. The characteristics of a buyer's market is a longer time on the market, higher number of homes available for sale, lower demand by buyers which translates into a lower probability of multiple offers and a tendency for price stabilization or even price depreciation.

Where do I get "Seller's" and "Buyer's" market information? This is not an opinion or based on price levels but a calculation I make using the number of homes for sale (supply) and the number of sales (demand) in the prior month which results in days of unsold inventory (DUI).

> Median prices have moved lower in Santa Clara and San Mateo counties -- The median price for SFR's in Santa Clara County has decreased for the last several months. It now stands at $532,000, versus $558,000, or a 4.7% decrease from last month and an increase of 0.1% from the same month a year ago. The median price for condos/townhouses decreased to $271,500 from last month's $335,000, and is down 15.4%from the same month last year. San Mateo County's median price for SFR's was $590,000, down from $719,500 last month, down 9.2% from the same month a year ago. The median price for San Mateo County condo/townhouses was $367,500, down from $370,000 last month and 20.9% from the same month last year. I continue to advise my clients NOT to use an entire county's median price level to decide whether to buy or sell or time the market as market areas within each county differ. For instance, I see divergences in the different market areas in each county so these are general statements. Ask me to provide you with how your area compares.

> 80 days and no offer! -- One of the indicators I review closely is the median days on market (median DOM) for available homes. For Santa Clara County it stands at 79 and for San Mateo County it is at 86. This means that half of the homes on the market are over this figure and half under. The homes that sold are at just 54 and 48, respectively, in Santa Clara and San Mateo counties.

Need help with understanding the market in your area? Give me a call or email me for a no-obligation consultation and research to arm you with market intelligence to help you make a better, more-informed decision.

Thanks for reading my blog. I'm Tom McEvoy, Realtor with RE/MAX Santa Clara Valley -- Let me know your comments, questions, observations you may have or any future topics you'd like me to address.

February Silicon Valley Real Estate Market Highlights

Here are the highlights of January transactions and market comments for Santa Clara County real estate and San Mateo County real estate. Your comments and questions are always welcome. If you see something in your neighborhood that you are curious about or have a question, please don't hesitate to share with us. If you have questions or a comment, please leave them here, or feel free to contact me through my website.

> Market Overview -- The last several months has seen a continual decrease in the amount of sales in both counties, an indicator of slowing markets and something we see each year as we enter the holiday and winter season. Closings of single family residences (SFR) in Santa Clara County decreased from last month to 640 from 951 but was 7.9% higher than the same month a year ago. For San Mateo County, SFR closings were 234, down from 370 last month and up 0.9% from the same month a year ago. My analysis of the transactional information reveals:

* The supply of single family residences available for sale (inventory) in Santa Clara County, jumped to 2,335 homes from 2,228 and is 23.7% higher than the same month a year ago. Similarly, we saw San Mateo County's inventory jump to 1,088 homes from 983 and was 33.8% higher than the same month a year ago. Keep in mind that many sellers remove their homes from the marketplace at the end of the year so this is not unexpected to see an increase into January. Generally, inventory is about on track with the ten-year average. Against this backdrop, the market continues more positive in Santa Clara County than in San Mateo County.

* More than 40% of sellers in Santa Clara County get at least list price for their homes! In San Mateo County, the corresponding percentage is a bit over 37%. This is another indicator that the overall market remains stronger in Santa Clara County. Also, these indicators have drifted lower but perked up a bit in January in each county.

* Days of Unsold Inventory (DUI), after a recent upswing has resumed a move lower. If this positive trend continues, it could portend a market that is gaining strength and could point to more positive market conditions later in the year. We watch this important indicator closely. As we have discussed, DUI is a calculation using both supply and demand so not an opinion. A higher figure for DUI, then, means the market is becoming weaker. For January, Santa Clara County had a DUI of 60 for SFR's, down from 77, 64 for condos/townhouses, down from 88 and 94 for multi-unit properties, down from 128. San Mateo County had a DUI reading of 85 (down from 106) for SFR's, 107 (down from 140) for condos/townhouses. Once again, all readings continue to point to a more positive market for Santa Clara County.

> Seller Markets? -- For Santa Clara County the hottest (seller) market areas are South San Jose, Santa Teresa and East Valley portions of San Jose. For San Mateo County, there were NO hot markets! A seller's market has shorter time on the market, fewer number of homes available for sale, higher demand by buyers with a tendency to have multiple offers and sale prices generally exceeding list prices with a potential of price appreciation.

> Buyer's Markets? -- For Santa Clara County, we see buyer's markets in Los Gatos, Saratoga and Campbell. Los Gatos is currently my "Best Buy" area in the county. For San Mateo County, we see buyer's markets in Foster City/Redwood Shores and especially the San Mateo Coast cities. The "Bay Cities" of San Mateo County like San Mateo, Redwood City, etc. are a bit cool right now. What makes a "buyers" market is the relationship of supply to demand -- simply put as higher supply and lower demand. The characteristics of a buyer's market is a longer time on the market, higher number of homes available for sale, lower demand by buyers which translates into a lower probability of multiple offers and a tendency for price stabilization or even price depreciation.

Where do I get "Seller's" and "Buyer's" market information? This is not an opinion or based on price levels but a calculation I make using the number of homes for sale (supply) and the number of sales (demand) in the prior month which results in days of unsold inventory (DUI).

> Median prices have moved lower in Santa Clara and San Mateo counties -- The median price for SFR's in Santa Clara County has decreased for the last several months. It now stands at $532,000, versus $558,000, or a 4.7% decrease from last month and an increase of 0.1% from the same month a year ago. The median price for condos/townhouses decreased to $271,500 from last month's $335,000, and is down 15.4%from the same month last year. San Mateo County's median price for SFR's was $590,000, down from $719,500 last month, down 9.2% from the same month a year ago. The median price for San Mateo County condo/townhouses was $367,500, down from $370,000 last month and 20.9% from the same month last year. I continue to advise my clients NOT to use an entire county's median price level to decide whether to buy or sell or time the market as market areas within each county differ. For instance, I see divergencies in the different market areas in each county so these are general statements. Ask me to provide you with how your area compares.

> 80 days and no offer! -- One of the indicators I review closely is the median days on market (median DOM) for available homes. For Santa Clara County it stands at 79 and for San Mateo County it is at 86. This means that half of the homes on the market are over this figure and half under. The homes that sold are at just 54 and 48, respectively, in Santa Clara and San Mateo counties.

Need help with understanding the market in your area? Give me a call or email me for a no-obligation consultation and research to arm you with market intelligence to help you make a better, more-informed decision.


Thanks for reading my blog. I'm Tom McEvoy, Realtor with RE/MAX Santa Clara Valley -- Let me know your comments, questions, observations you may have or any future topics you'd like me to address.

Lunar New Year Events - 2011

Happy New Year! OK, Happy Lunar New Year! In the Chinese calendar, the longest chronological record in history dating back to 2600 B.C., this year marks the lunar year 4709 -- Year of the Hare or Rabbit. The first day of the lunar year is February 3, 2011. For the Tet Vietnamese New Year it will be the Year of the Cat!


Famous people born in the Year of the Rabbit include: Albert Einstein, Leon Trotsky, Frank Sinatra, Pope Benedict XVI, Angelina Jolie, Brad Pitt, Johnny Depp, David Beckham, Tiger Woods, Whitney Houston


Here are selected local events celebrating the Lunar New Year in Santa Clara and San Francisco counties.

Silicon Valley/Santa Clara County:
Saturday, February 12, 1:00-4:00pm - Performances, cooking demos & more, Santana Row Park, Santana Row, San Jose
Gung Hey Fat Choi! Santana Row celebrates Chinese New Year with a festival of live performances, cooking demos and more to usher in the Year of the Rabbit.
http://www.santanarow.com/events/item/santana_row_celebrates_chinese_new_year/


San Francisco/San Francisco Chinatown:
Thursday, January 27, 6:30 - 9:00pm - Fine Arts Exhibit Art, People Gallery - San Francisco

Saturday, January 29, 10:00am-10:00pm, also Sunday, January 30, 9:00am-6:00pm - Flower Fair San Francisco Chinatown
Celebration of Chinese New Year in San Francisco kicks off with the Chinese New Year Flower Fair. Each year, the Chinese New Year Flower Fair takes place the weekend before the lunar new year holiday so that families can come to the flower fair and purchase their traditional holiday plants, flowers and fruits.
http://www.chineseparade.com/parade_events.asp?pEvent=flower_fair

Saturday, January 29, 3:00pm - Chinese New Year Symphony, San Francisco Symphony, Davies Symphony Hall - San Francisco http://www.sfsymphony.org/season/Event.aspx?eventid=43474

Thursday, February 10, 7:30pm - Miss Chinatown USA Pageant, Palace of Fine Arts Theater - San Francisco http://www.chineseparade.com/pageant.asp

Sunday, February 13, 7:00am registration, run starts at 8:00am at Sacramento and Grant, YMCA Chinese New Year Run.
This event raises funds for the YMCA's youth and teen programs. This year's proceeds will benefit PEP, the Physical Education Program serving more than 1,200 youth in Chinatown with weekly physical fitness programs and expects 2,500 participants and 300 volunteers. Registration must be postmarked by 2/1/11. http://www.active.com/running/san-francisco-ca/chinese-new-year-run-year-of-the-hare-2011

Saturday, February 19, 10:00am - 4:30pm, also Sunday, February 20, 9:00am-5:00pm - Chinatown Community Street Faire, SF Chinatown http://www.sanfranciscochinatown.com/events/communityfair.html


San Francisco's Chinese New Year Parade began in 1860 and was named by the IFEA to be one of the top ten parades in the world! It is also one of the remaining night illuminated parades left in the country. Since 1958 the parade has been organized and directed by the Chinese Chamber of Commerce.

Saturday, February 19, 5:15pm-8:00pm - 2011 Chinese New Year Festival and Parade, Market and Second Streets to Kearney and Jackson. Check out "Gum Lung", the 201-foot-long Golden Dragon! http://www.chineseparade.com/



A Hundred Years of the Chinese Calendar (1924 to 2024) --
The Chinese Calendar names each year after an animal and legend has it that a person born under a certain animal will display traits of that animal. What sign are you in the Chinese 12-year calendar cycle? Look up in the table below what year you were born and the corresponding animal.

Rat: 1924 1936 1948 1960 1972 1984 1996 2008 2020

Ox: 1925 1937 1949 1961 1973 1985 1997 2009 2021

Tiger: 1926 1938 1950 1962 1974 1986 1998 2010 2022

Rabbit: 1927 1939 1951 1963 1975 1987 1999 2011 2023

Dragon: 1928 1940 1952 1964 1976 1988 2000 2012 2024

Snake: 1929 1941 1953 1965 1977 1989 2001 2013

Horse: 1930 1942 1954 1966 1978 1990 2002 2014

Ram: 1931 1943 1955 1967 1979 1991 2003 2015

Monkey: 1932 1944 1956 1968 1980 1992 2004 2016

Rooster: 1933 1945 1957 1969 1981 1993 2005 2017

Dog: 1934 1946 1958 1970 1982 1994 2006 2018

Boar: 1935 1947 1959 1971 1983 1995 2007 2019


Gung Hey Fat Choy! Happy Year of the Rabbit!

Chúc Mừng Năm Mới! Happy Year of the Cat!

Cost vs. Value Report - 2010-2011

Remodeling Magazine, published by Hanley-Wood, LLC, Washington, D.C., has been publishing the "Cost vs. Value Report" annually for more than twenty years. The 2010-2011 version compiles information for 80 markets, same as last year on 35 home improvement projects included in the analysis by HomeTech Information Systems , which publishes estimating software for professional remodelers. This information is collected and compiled from their national network of remodeling contractors and suppliers. Adjustment factors are employed to account for regional pricing differences.

What do the latest numbers have to say? Continued downward home prices (nationwide) have brought the overall cost-to-value ratios down to their lowest levels in the last ten years. So, the best rule of thumb is to be pragmatic as lowered home values have moved remodelers to those projects which don't require, in most instances, large outlays of capital. Of the top five projects, only one (minor kitchen remodel), involves costs of more than $14,000.

The least expensive of the 35 projects, an entry door replacement, actually had the highest return on investment nationally at 102.1% and 112.1% in the Pacific region. Generally, the replacement projects like entry door and garage door (improves curb appeal), have a much higher percentage of cost recouped.

Higher cost estimates for projects coupled with lower resale prices have tipped the percentages to below 100% with one exception -- the previously mentioned entry door replacement (steel). The report's findings underscored the fact that the percentage of cost recouped on upscale additions and remodels were significantly lower than mid-range additions, remodels and replacements. As you might suspect, many upscale projects are not undertaken using an investment return mentality and so I recommend against them if the project(s) are contemplated for resale of a home.

If interested, check out the full national Cost vs. Value Report. A map on the site shows cost comparisons by region. You may click on the region to make the information more relevant to your needs and even peruse past reports. For instance, click for the Pacific region report.

Here are selected 2010-2011 remodel and replacement projects for the Pacific region along with its average percentage of cost recouped (last year's report values in parentheses):

* Bathroom addition - 63% (68%)
* Deck addition (wood) - 76% (91%)
* Family room addition - 71% (73%)
* Master Suite addition - 67% (72%)
* Bathroom remodel - 79% (77%) (Only one to have increased from 2009-2010 report)
* Home office remodel - 54% (56%)
* Major kitchen remodel - 77% (84%)
* Minor kitchen remodel - 84% (94%)(project I have advised my clients to consider)
* Roof replacement - 65% (68%) (recommended sometimes to improve curb appeal)
* Siding replacement (fiber cement) - 72% (92%)
* Windows replacement (vinyl) - 80% (88%) (project I have advised my clients to consider)
* Entry door (steel) 112% (not in last year's report) (recommended to improve curb appeal)
* Garage door 77% (not in last year's report) (recommended to improve curb appeal

Hope this information is of help to you as you decide on remodeling projects to either enhance the value of your home for immediate reselling or to enjoy the lifestyle benefits of the improvements and have no plans to sell. Please remember that not all remodeling projects will result in higher resale values. Many folks think that someone will want to pay $100,000 more for their remodeled home that costs them $50,000 to complete. Not too likely as it depends upon on the project, the neighborhood, the likely market conditions upon completion, and other factors. If you are considering remodeling for a sale or just want to see what projects may cost and understand the process, I recommend reading the book "Remodel or Move?" by Dan Fritschen available at Amazon.com or his website. His website also has a handy remodel or move calculator to help you with your decision.

If you want a professional opinion of how the market will react to your proposed project and as a way to save time, money and hassle, please contact me. I would provide you a market assessment of your contemplated remodeling project and if you want, a referral to a licensed trades-person who can provide free estimates or just to talk it over with as you firm up your plans, please let me know. I would do this whether or not you would be doing the project for resale as I work exclusively by referral so regularly provide referrals to my clients to help them maintain or improve their homes. By the way, these referrals are from the heart, not the wallet as the only thing I get for a referral of this type is the satisfaction that you will be well-cared for by a licensed professional.

Thanks for reading Tom McEvoy's blog! Post your comment here or send me an email through my website.

January Silicon Valley Real Estate Market Highlights

Here are the highlights of December transactions and market comments for Santa Clara County real estate and San Mateo County real estate. Your comments and questions are always welcome. If you see something in your neighborhood that you are curious about or have a question, please don't hesitate to share with us. If you have questions or a comment, please leave them here, or feel free to contact me through my website.

> Market Overview -- The last several months has seen a continual decrease in the amount of sales in both counties, an indicator of slowing markets and something we see each year as we enter the fall and holiday season. Closings of single family residences (SFR) in Santa Clara County jumped a bit from last month to 904 but was 3.6% lower than the same month a year ago. For San Mateo County, closings were 370, up 3.9% from November 2009. My analysis of the transactional information reveals:

* The supply of homes available for sale (inventory), which was increasing later in the year (far longer than in most years), has now reversed course and is following historical trends in both counties. We did see a significant drop this month as many listings have expirations dated in December, especially December 31st! Having a listing expire so late in the year is a poor strategy that will likely set sellers up to lose (more?) money. Against this backdrop, the market remains more positive in Santa Clara County than in San Mateo County. However, inventory levels were about 41%higher in Santa Clara County and 36% higher in San Mateo County than the same month a year ago.

* 40% of sellers in Santa Clara County get at least list price for their single family homes! In San Mateo County, the corresponding percentage is a bit over 31%. This is another indicator that the overall market remains stronger in Santa Clara County. Also, these indicators have drifted lower and underscore a slowing market in both counties -- usual though for this time of year.

* Days of Unsold Inventory (DUI), after a recent upswing has resumed a move lower. If this trend continues, it could portend a market that is gaining strength and could point to more positive market conditions next year. We watch this important indicator closely. As we have discussed, DUI is conceptually the inverse of inventory turns ratio and represents a calculation using both supply and demand. A higher figure for DUI, then, means the market is becoming weaker. For December, Santa Clara County had a DUI of 77 for SFR's, 88 for condos/townhouses and 128 for multi-unit properties. San Mateo County had a DUI reading of 106 for SFR's, 140 for condos/townhouses and an even higher number of 358 for multi-unit properties. Once again, all readings continue to point to a more positive market for Santa Clara County.

> Seller Markets? -- For Santa Clara County the hottest (seller) market areas are East Valley, Central San Jose and South San Jose, and the South County area comprising the cities of Morgan Hill and Gilroy. For San Mateo County, there were NO hot markets! A seller's market has shorter time on the market, fewer number of homes available for sale, higher demand by buyers with a tendency to have multiple offers and sale prices generally exceeding list prices with a potential of price appreciation.

> Buyer's Markets? -- For Santa Clara County, we see buyer's markets in Saratoga, Los Gatos/Monte Sereno, Almaden Valley (SJ) and Sunnyvale. Saratoga is my current "Best Buy" area in the county. For San Mateo County, we see buyer's markets in Menlo Park, Atherton, Belmont, Burlingame, Redwood City, Foster City/Redwood Shores and especially the San Mateo Coast cities. What makes a "buyers" market is the relationship of supply to demand -- simply put as higher supply and lower demand. The characteristics of a buyer's market is a longer time on the market, higher number of homes available for sale, lower demand by buyers which translates into a lower probability of multiple offers and a tendency for price stabilization or even price depreciation.

Where do I get "Seller's" and "Buyer's" market information? This is not an opinion or based on price levels but a calculation I make using the number of homes for sale (supply) and the number of sales (demand) in the prior month which results in days of unsold inventory (DUI).

> Median prices have moved lower in Santa Clara and San Mateo counties -- The median price for SFR's in Santa Clara County which has mainly remained flat to slightly nudging upwards for several months has decreased again. It now stands at $559,000, versus $590,000, or an 5.3% decrease from last month and a decrease of 0.9% from the same month a year ago. The median price for condos/townhouses climbed to $335,000, up 6.0%from last month but decreased 6.2% from the same month last year. San Mateo County's median price for SFR's was $719,500, down 0.5% from last month and down 4.1% from the same month a year ago. The median price for San Mateo County condo/townhouses was $370,000, down 10.8% from last month and down 18.9% from the same month last year. I continue to advise my clients NOT to use an entire county's median price level to decide whether to buy or sell or time the market as market areas within each county differ. Ask me to provide you with how your area compares.

> Buyers now paying 10% higher prices! -- Since the rate of which buyers will receive from mortgage lenders has risen of late to 5%, that's the equivalent of at least a 10% increase in the price of the home! To put another way, if a buyer was preapproved for a purchase of $500,000 a few months ago and decided to wait, they would now be looking at something closer to a $450,000 home because of the increase in the monthly payment.

Need help with understanding the market in your area? Give me a call or email me for a no-obligation consultation and research to arm you with market intelligence to help you make a better, more-informed decision.


Thanks for reading my blog. I'm Tom McEvoy, Realtor with RE/MAX Santa Clara Valley -- Let me know your comments, questions, observations you may have or any future topics you'd like me to address.