Bay Area Home Sales Exploding!

According to the latest National Association of Realtors (NAR) report, home sales have increased 10.4% over the same month last year.Home sales started off quietly at the start of 2015 but skyrocketed in March which saw the largest monthly increase in 5 years. Listed below are the increases for Cupertino, Los Altos, Palo Alto, and Mountain View.  The increases may not seem high in terms of absolute numbers, but we have seen a “down” inventory for some time and even small increases are welcomed.

 NUMBER OF HOMES SOLD – MARCH 2014 VS MARCH 2015

# Sales – Mar. 2014

# Sales – Mar. 2015 # Increase

% Increase

Cupertino

21

23 2

10%

Los Altos

30

32 2

7%

Palo Alto

23

28 5

22%

Mountain View

12

22 10

83%

AVERAGE SALE PRICE INCREASE – MARCH 2014 vs. MARCH 2015
 

Avg. Sale Price –  Mar. 2014

Avg. Sale Price – Mar. 2015 $ Increase

% Increase

Cupertino

$1,717,905

$2,019,021 $301,116

18%

Los Altos

$2,542,671

$3,132,679 $590,008

23%

Palo Alto

$2,847,514

$2,986,094 $138,580

5%

Mountain View

$1,604,000

$1,642,727 $38,727

2%

Click on the link below to read more about the NAR report.

http://tinyurl.com/lz5sgmw

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You Have 3 Months – To Save “Book Buyers” in Mountain View!

Castro Street in downtown Mountain View has been a revolving door for many small businesses hoping to find a home to settle down – only to discover that the rising rental costs and competition was more than they could handle. It’s especially sad when Book Buyers, a shop that has been considered a “gem” of downtown Mountain View for 25 years, faces the same predicament.  But, the owner, Hotranatha Ajaya and his tight-knit crew are not going down without a fight and have pledged to do whatever it takes to save their store. Click on the link below to read more about Book Buyers and their strategy to hopefully turn things around before it’s too late.

http://tinyurl.com/nwqgre4

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Your Enchanted, Drought-Resistant Garden

If you’re looking for inspiration on how to transform your backyard into one that needs less water and also suit your entertaining lifestyle, Palo Alto’s 30th Annual Gamble Garden Tour on April 24-25 will be worth a visit. This year’s event theme is “There’s No Place Like Home” and features a tour of 5 private gardens in Palo Alto. Click on the link below for more details.

http://tinyurl.com/l56npyt

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Selling Your Home? Real Estate Supply and Demand…

We all know that supply and demand greatly influences the price of everything – and that includes the price of homes. Every homeowner that is in the process of considering selling their home wants top $$$ for their property.  It makes sense to sell when demand is high and inventory is low.  The summer months have historically been considered “peak” selling season. Home prices in Los Altos, Mountain View, Palo Alto and other surrounding cities have skyrocketed and summer is right around the corner, so if you’re considering selling your home, now is the time! Click on the link below to read more about this topic.

http://tinyurl.com/mxcgjx9

Posted in Bay Area - General, bay area real estate, Los Altos, Mountain View, Palo Alto, Selling | Tagged , , , , , | Leave a comment

Governor Orders State-Wide Water-Use Reduction

With a record-low snowpack amid the state’s ongoing drought and as mandated by Gov. Jerry Brown, the State Water Resources Control Board will be implementing mandatory 25% reductions in water usage by California cities and towns through February 2016. Los Altos had previously set a goal to reduce water consumption by 20% so the city is well on its way in doing its part in conserving water! If you’re looking for more ways to save water (and money) visit:

http://valleywater.org/programs/waterconservation.aspx

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Foothill College in Los Altos Hills offers Canine Therapy for Vets

After serving time overseas, many active or veteran military personnel struggle to get back into the mainstream of everyday life. Fortunately, a variety of services and programs are available throughout the country to those that need it. In the Bay Area, Los Altos Hills’ Foothill College has a Veteran Resource Center that also offers active or veteran military personnel canine therapy by pairing them up with service dogs, some of which had served time overseas as well. Click on the link below to read more about how Foothill College is helping our veterans.

http://tinyurl.com/odmxcc3

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International Investors “Buying” California

According to a recent survey conducted by the California Association of Realtors, U.S. citizens aren’t the only ones that want to share in the “American Dream”. Even with the rising home prices, California continues to be a hot spot for international investors looking for investments and tax advantages. And, Silicon Valley, with its inventory of high-end properties in cities such as Los Altos, Los Altos Hills, Saratoga, Palo Alto, etc. is a magnet drawing foreign homebuyers and 2/3 of international buyers pay all cash. Click on the link below to read more about this topic.

http://tinyurl.com/mybzxgz

Posted in Bay Area - General, bay area real estate, Buying, California Market Statistics, foreign investment, Los Altos, Los Altos Hills, Palo Alto | Tagged , , , , , , , | Leave a comment