Hadar Gordon Blog

What Home Improvements Can You Make To Ensure You Get More $$$ When You Sell??

Wed, 25 Apr 2012 00:00:00 -0700

HomeGain 2012 National Home Improvement Survey Results

HomeGain.com announced today that it has released the results of its nationwide home improvement and home staging survey. Past findings from the survey have been a guide for thousands of home sellers in preparing their homes for sale.

HomeGain recently surveyed nearly 500 real estate agents nationwide to determine the top 10 low cost*, do-it-yourself home improvements for people getting their home ready to sell.

The top five nationwide home improvements that real estate professionals recommend to home sellers, based on average cost and return on investment (ROI) to sellers, are:

Costs are averages and rounded up.

Cleaning and de-cluttering continues to rank as the top suggested home improvement (since the survey was originally conducted in 2003). This low cost home improvement is recommended by 99% of real estate professionals. The average recommended cost for this project is $402 with a returning value of just over $2,000 to the home’s sale price, or a 403% return (ROI).

In past surveys, Home Staging and Lightening and Brightening were battling it out for the number two spot on the top 10 list. In the 2011 survey, Lightening and Brightening reclaimed the number two position and held on to it in 2012. Home Staging, however, fell to the number five position.

The options to landscape the yard and repair electrical and/or plumbing stay in the top five, both jumping past Home Staging.

“In a buyer’s market, sellers need to dress their homes for success before putting them on the market,” said Louis Cammarosano, General Manager at HomeGain. “The HomeGain results show that do-it-yourself home improvements like cleaning and de-cluttering and lightening and brightening your home are cost effective ways of increasing your chances of selling faster and closing closer to the asking price than homes rushed to the market with no improvements.”

Rounding out the top 10 DIY home improvements are:

The home improvements with the highest price increases to a home’s resale value continues to be Updating the Kitchen and Bathroom ($3,255 price increase), followed by Repairing Electrical & Plumbing ($3,175 price increase) and Painting the Exterior of the Home ($2,176 price increase).

New Off Market Townhome Opportunity in Mountain View w/Los Altos Schools!

Thu, 01 Mar 2012 00:00:00 -0800

Please contact me with questions/interest or pass along to anyone who you think might be!

172 Montelena Court, Mountain View - A must see updated townhome priced to sell $749,000
Desirable 2 bedroom end unit, 2.5 bathrooms, 1,710sf
Lots of natural light, gorgeous vaulted ceilings
Updated kitchen with breakfast bar perfect for entertaining
2 car attached garage
Low HOA
Top Los Altos Schools (Santa Rita, Egan & LA High – buyer to verify)

Virtual Tour: www.tourfactory.com/834447

Your February Silicon Valley Market Update

Sun, 26 Feb 2012 00:00:00 -0800

Spring Selling in Silicon Valley

It's hard to believe we are almost into our 3rd month of 2012! This year's housing market is back in full swing and new Spring inventory has (slowly) begun to hit the Silicon Valley real estate market. Our local economy is in a state of growth. There is much anticipation surrounding the tech world, the recent IPO's and some upcoming ones. Buyers are taking advantage of low interest rates and house hunting for themselves or as an investment. Sellers are taking advantage of the pre-summer housing market and increased buyer demand by listing their homes at strong prices. All seems to be well in our housing world, except the reality that there is just not enough housing inventory to meet this demand. We have 50% less housing inventory today than we have had in the last five years. In Santa Clara County, we have only 1.7 month's supply and in San Mateo County only2.2 months. So what type of market has this created? Well for one, we have slowly shifted into a seller's market. In certain neighborhoods throughout Silicon Valley (namely Mountain View, Los Altos, Menlo Park, Palo Alto, parts of Redwood City and Burlingame), it has created quite a competitive multiple offer market (in the $500K-$2M price point), a bidding war if you will, and in some cases, very frustrated buyers. If you are a buyer in the market this year you have probably noticed this if not been involved in a multiple offer transaction yourself. Now don't get me wrong, now is a terrific time to buy. But for buyers in this market, it will require added time, patience and a great offer strategy/package with strong price, terms and conditions (which is where I come in to help you get there!). Just last week a house on Georgia Street in Palo Alto sold with 38 offers and $500K over the asking price of $1,195,000 (I think the house was priced too low to begin with). The week before a house on Todd Street in Mountain View sold with 16 offers. The dire inventory situation that is driving this demand and upward pressure on prices will certainly improve as the year unfolds, but those sellers who wait until the summer months will also be competing against all of the other listings at the peak season. So for those sellers thinking about putting their house on the market, now (in my opinion) may be a good time and a window of opportunity.

Bay Area Home Sales Reach 5-Year High for January - Bay Area Biz Journal

"Bay Area home sales rose in January to the highest level for the month in five years, the research firm Dataquick reported. It attributed the jump to lower prices, ultra-low mortgage rates, a modestly improved economy and a record level of investor purchases."

How did the Silicon Valley real estate market perform in January? Here is the scorecard:

Don't Forget to Spring Forward!

Thank you for your continued support, and please feel free to contact me regarding specific questions or housing needs.

All my best,

Hadar Gordon

Happy Valentine's Day!

Tue, 14 Feb 2012 00:00:00 -0800

This is an interesting (and funny) article to share in light of Valentine's Day - "Trulia asked 1,000 single people which home features are the biggest turn-ons. Number one turned out to be a master bath. Men (64%) love that private sanctum almost as much as women (75%) do. Walk-in closets were cited by 55% of men and 72% of women and gourmet kitchens got 51% of the male vote and 62% of the female. Hardwood floors, outdoor decks and home theaters also came in high on the list."

Want a date? Buy a home

By Les Christie @CNNMoney February 14, 2012: 5:30 AM ET

When it comes to dating, homeownership can be the ultimate aphrodisiac.

NEW YORK (CNNMoney) -- When it comes to dating, homeownership can be the ultimate aphrodisiac.

In a survey of 1,000 single people, more than a third of women and 18% of men said they would much rather date a homeowner than a renter.

Only 2% of women said they preferred to date a man who rents, while only 3% of men said they would choose a woman who rents over one that owns her home, according to the survey, which was conducted by Harris Interactive for real estate site Trulia.

Both sexes also clearly prefer it when there's no roommate in the picture; 62% of survey respondents, men and women, prefer to date singles who live alone.

I'm home! Adult children move back in with parents

And there was bad news for the growing number of boomerang kids -- the young adults who went off to college, graduated and then wound up back in their old bedrooms. It's going to be hard to find love, except (perhaps) from your parents. Less than 5% of all singles surveyed said they would date someone living in their childhood homes.

"That's a real deal-breaker," said Michael Corbett, a spokesman for Trulia. "If you're still living with your folks, you're dead-on-arrival for dating."

The home they could love

Trulia also asked which home features are the biggest turn-ons. Number one turned out to be a master bath. Men (64%) love that private sanctum almost as much as women (75%) do.

Cool and unusual homes for sale

Walk-in closets were cited by 55% of men and 72% of women and gourmet kitchens got 51% of the male vote and 62% of the female. Hardwood floors, outdoor decks and home theaters also came in high on the list.

Interestingly enough, hot tubs got a lot less love from respondents. Only 26% of men and 22% of women cited the old standby in the science of seduction as an amenity they would truly want.

Source: http://money.cnn.com/2012/02/14/real_estate/dating_homeownership/index.htm

Buyer Activity in Palo Alto

Sun, 12 Feb 2012 00:00:00 -0800

I recently sold this beautiful townhome in the College Terrace neighborhood of Palo Alto - we had lots of buyer activity (over 15 disclosure packages out) and ended up with 5 great offers! The townhome sold in less than a week well above asking price.

It's important to have a great real estate agent on your side who understands the ever-changing market climate especially in an area like Palo Alto. Please contact me if you are or know someone who is the market to buy or sell! I would be glad to assist.

2011 Real Estate Roundup and 2012 Outlook

Wed, 14 Dec 2011 00:00:00 -0800

2011 Real Estate Roundup and 2012 Outlook

It has been quite a year for the housing market in Silicon Valley. Despite the continued but struggling recovery nationwide, the Silicon Valley real estate market truly held up on its own. The median price for a single-family home remained stable in 2011 vs. 2010 for both Santa Clara and San Mateo counties ($575,000 and $735,000, respectively). The percentage of properties under contract grew 22% for SCC and SMC signaling returned buyer confidence in the market, who took advantage of low prices and record-low interest rates. Silicon Valley had the lowest supply of housing inventory we'd seen in the last 10 years (only 2 months), which will put upward pressure on prices next year if buyer demand continues to increase at the rate we saw in 2011. Thanks to the resurgence in corporate hiring and the success of many tech, health and energy companies, we are poised for a promising 2012.

How did the Silicon Valley real estate market perform in November? Here is the scorecard:

What will the Silicon Valley housing market look like in 2012?

Opes Advisors, a trusted Palo-Alto based mortgage/financial firm, recently gave us their outlook at their yearly presentation:

**Profitability for companies in the valley will be very good and this bodes well for our local economic environment as well as our customers.
**We are actually bullish on the stock market in general looking to high single digit gains even though volatility will continue throughout the year.
**We anticipate that rates will stay low for the first half of the year and begin rising toward the second half to highs of 3.2% in 10 year treasuries.
**There is a possibility that we have seen a low in the housing markets except for the severely depressed areas that are over saturated and have high unemployment.
**Housing starts have continued their rise and we may have seen the low in this area as well.
**Consumer confidence should continue to increase.
**There are still many political battles to be fought: the European crisis, extension of payroll tax deductions, fiscal spending cuts and a presidential election. We are optimists that while all of these will come to the final moments, ultimately people will do the right things. Our system of battling over what is right is still the best form of government on the planet. We are very optimistic for our future and for 2012.

I'd like to thank you from the bottom of my heart for a wonderful 2011. Thank you for your continued support, and may you and yours be blessed with a truly spectacular holiday season and an even brighter 2012! Please feel free to contact me for any of your housing needs or questions.

Opes Advisors 2012 Outlook

Mon, 12 Dec 2011 00:00:00 -0800

We had a great meeting with the Opes Advisors Financial/Mortgage team in Palo Alto this morning! Here is their outlook for 2012:

The State of the Macro Economy
- We are still in a recovery that has been happening all year even through the great uncertainty caused by the debt of our nation and European nations
- We believe this continues into 2012 and likely through at least the first half of 2013
- We are also experiencing the lowest level of interest rates in 120 years
- Credit is not universally easy to come by, but we wouldn’t expect it to be easy at these prices.
- Volume of sales and manufacturing levels are continuing to pick up off the beaten down levels of 2009/2010. And the pricing environment for business is improving as well.
- Unemployment has been stubbornly high but as of late is showing more positive signs
- The volatility because of the debt crisis will continue. This is the wild card to this year.

2012 Outlook

**Profitability for companies in the valley will be very good and this bodes well for our local economic environment as well as our clients.
**We are actually bullish on the stock market in general looking to high single digit gains even though volatility will continue throughout the year.
**We anticipate that rates will stay low for the first half of the year and begin rising toward the second half to highs of 3.2% in 10 year treasuries.
**There is a possibility that we have seen a low in the housing markets except for the severely depressed areas that are over saturated and have high unemployment.
**Housing starts have continued their rise and we may have seen the low in this area as well.
Consumer confidence should continue to increase.
**There are still many political battles to be fought: the European crisis, extension of payroll tax deductions, fiscal spending cuts and a presidential election. We are optimists that while all of these will come to the final moments, ultimately people will do the right things. Our system of battling over what is right is still the best form of government on the planet. We are very optimistic for our future and for 2012.

For more information regarding Opes Advisors, how they have helped my clients and can help you, please contact me or visit their website (http://opesadvisors.com/)

Barclays analyst sees housing rebound coming in 2012

Thu, 08 Dec 2011 00:00:00 -0800

Monday, December 5th, 2011, 11:34 am

Barclays Capital (BCS: 11.30 -6.07%) analyst Stephen Kim predicts a housing recovery buoyed by improving jobs numbers and the fact prices for nondistressed homes will have stabilized without government support.

"In the absence of a government homebuyer incentives, prices for non-distressed home sales have stabilized for almost a year," Kim said. "This is the most important trend in the housing industry right now, and we are amazed at how little attention it has been getting from the media and the street. This stability on the part of nondistressed prices has occurred despite a very high share of distressed activity and continued declines in overall prices."

Barclays said recent economic data — including higher job creation in November, housing starts and improved homebuyer traffic — point to some improvement potential in the sector.

In mid-2010, the federal homebuyer tax credit expired, leaving the housing market without training wheels for the first time since the 2008 economic meltdown. Yet, prices in some housing markets remained stable on the back end.

With its new outlook in the market, Barclays upgraded D.R. Horton's (DHI: 12.33 -2.84%) stock to buy and raised price targets for D.R. Horton, Lennar (LEN: 19.12 -2.45%), Toll Brothers (TOL: 20.42 -2.44%) and Meritage Homes(MTH: 22.65 -2.08%).

At the same time, the investment bank raised its 2012 earnings-per-share estimates for D.R. Horton, Lennar, Meritage Homes, Pulte (PHM: 6.15 -4.65%) and Toll Brothers, while lowering its estimates for KB Home (KBH: 7.84 -4.04%).

"Thus, the key to timing housing’s recovery depends primarily on when these first-time buyers decide it is safe to buy a house," Kim concluded.

http://www.housingwire.com/2011/12/05/barclays-analyst-sees-housing-rebound-coming-in-2012

Deck Your House and Win $100,000 for Public Schools in Menlo Park or Atherton

Thu, 08 Dec 2011 00:00:00 -0800

Deck Your House and Win $100,000 for Public Schools in Menlo Park or Atherton

Get out the lights and holly. Your decorating could net $100,000 for your school. Don’t miss out on this opportunity to fund the public education system.

Patch.com is launching a nationwide contest to find the best dressed home in its Patch communities, and the winner’s school district will receive $100,000, no strings attached.

Here’s how the contest works. Beginning on Dec. 8 and continuing through Dec. 26, you can nominate your home by uploading a photo to the contest entry form on the site. During that same time period you and your neighbors will also be able to vote for your favorite festive home.

The winning entry will be forwarded to a national Patch judge that will select 24 finalists. Each finalist will receive $500 that they can apply to their December electric bill.

From Dec. 30 through Jan. 8 you will be able to vote for the Best Decked House in all of Patch. The grand prize winner’s school district will receive a $100,000 check from Patch.

So, get out your lights and ladders (and your competitive spirit)! Whether your style is sophisticated or silly, dress up your house in the name of good cheer and our kids. At the very least, Menlo Park and Atherton will be decked out like they've never been. And if we The Menlo Park or Atherton school district wins, what better gift could we give to the kids than that of an environment conducive to learning?

Enter Now! http://deckthehouse.patch.com/contest/menlopark

Can you lower your property taxes?

Wed, 07 Dec 2011 00:00:00 -0800

Q: Can you lower your property taxes?

A: Possibly.

1. Check the deadline for filing a property assessment appeal in your city or county (see below for Santa Clara County dates)

2. Look up your home values at the assessment website or ask for your property record card

3. Check to make sure the assessor has accurately described your property

4. Get comparisons of other similar homes in your areas

5. If you think something is off, set up an in-person appointment at the office for an informal appeal

6. Bring photos, documents, comps, list of errors, recent sales prices, etc.

7. If the informal appeal fails, schedule a formal presentation before a local board8. If that fails, you can appeal to a state level boar

Santa Clara County Assessor's Calendar of Important Dates

NOTE: If Date falls on Saturday, Sunday or Legal Holiday, mail postmarked on the next business day shall be deemed on time.

January 1	Lien Date for next assessment roll year. This is the time when taxes for the next fiscal year become a lien on the property. Assessed values on this lien date are the basis for the property tax bills that are due in installments in December and the following April.
February 15	Deadline to file all exemption claims.
April 1	Due date for filing statements for business personal property, aircraft and boats. Business property owners must file a property statement each year detailing the cost of all supplies, machinery, equipment, leasehold improvements, fixtures and land owned at each location within Santa Clara County.
April 10	Last day to pay second installment of secured property taxes without penalty. This tax payment is based on property values determined for the January lien date 15 months earlier.
May 7	Last day to file a business personal property statement without incurring a 10% penalty.
Last week of June	Annual mailing of assessment notices to all Santa Clara County real property owners stating the taxable value of the property. Real property owners who disagree with the Assessor's valuation, may present any pertinent factual information to the Assessor's Office to determine the market value of the property before August 1.
July 1	Close of assessment roll and the start of the new assessment roll year. The assessment roll is the official list of all assessable property within the County.
July 2	First day to file assessment appeal application with the Clerk of the Board of Supervisors.
August 1	Last day to request an informal Proposition 8 review.
August 31	Regular roll unsecured taxes due.
September 15	Last day to file an assessment appeal application for reduced assessment with the Clerk of the Board of Supervisors.
December 10	Last day to pay first installment of secured property taxes without penalty and deadline to file a late exemption for homeowners and veterans.
January 1	Lien Date for next assessment roll year.

How Silicon Valley Real Estate performed in October 2011 vs. October 2010

Tue, 08 Nov 2011 00:00:00 -0800

Inventory remains low, demand remains high.

Tech hiring surge helps lower valley unemployment rate

Tue, 01 Nov 2011 00:00:00 -0700

Tech hiring surge helps lower valley unemployment rate

A powerful surge of tech hiring in September kept the valley's job recovery on track, according to figures released Friday by the state Employment Development Department.

The unemployment rate dropped to a seasonally adjusted 9.8 percent, well below the stratospheric 11 percent of a year ago, according to an analysis of the EDD data.

Though tech hiring was the main story, other sectors showed signs of life, including the troubled construction industry. The recovery means people sidelined by the recession are returning to work.

Job growth in the valley "is beginning to eat into the unemployment rate," said Stephen Levy of the Center for Continuing Study of the California Economy.

The region's 3.1 percent year-over-year job growth -- adding 26,000 jobs -- continues to outpace the state and nation, Levy said.

While valley employers added only a few hundred jobs overall, the professional, scientific and technology sector took off, gaining about 2,000 jobs from August to September.

The valley's construction employers also were hiring in September, with an additional 1,000 jobs, adding to steady gains since February. The health care industry added 1,200 jobs for its 13th straight month of gains.

Some unemployed professionals are getting multiple offers, according to ProMatch, a Sunnyvale-based state and federally funded job-networking service.

"We've had so many people return to work in the past couple months it would almost make your head spin," said Connie Brock, a ProMatch program manager.

Some of those being hired are in their 40s and 50s, an age group hit hard by the recession.

"We had a five-month waiting list to get in here a year ago. We have no waiting list now," Brock said. "Many people I'm meeting with daily have multiple offers."

"Most of the new hiring is in high tech," said Brad Kemp of Beacon Economics, which provided the seasonally adjusted data. The valley's tech sector is "rarefied air" compared with the rest of the state and nation, he said.

On Wednesday, computer-maker Dell interviewed job candidates at its new Santa Clara campus as its executives participated in a ribbon-cutting ceremony.

"They want to expand rapidly," said Richard Cress, a veteran of 24 years with Silicon Valley tech companies. Cress said he had four interviews that day at Dell. "There are things that are happening, but you have to constantly keep chasing it."

Ronald Ibaraki, a veteran defense worker, said he's looking for program management jobs but is expanding his search into solar technology. "That's a growing industry," he said Thursday.

But with the national and global economy wobbling, continued growth is not a sure thing. Companies that are hiring are also laying off workers, but it's too soon to say whether that's the typical tech industry churn or signs of slowing growth.

Job losses were reported in local government and durable goods manufacturing, while financial services, retail trade and leisure and hospitality were largely unchanged.

The number of layoff notices in the northern part of Santa Clara County shot up dramatically in the past quarter, said Kris Stadleman, executive director of NOVA, the workforce investment board for northern Santa Clara County.

"It's one quarter, and not necessarily a permanent trend, but it's big enough to make us say, 'Uh-oh.' "

The southern Santa Clara County workforce board, Work2Future, which covers San Jose, is seeing layoffs from small companies that are not required to file official notices, said Jeff Ruster of San Jose's economic development office. Many people have given up looking for work or are underemployed and aren't counted in the unemployment rate, he said.

The unadjusted jobless rate dropped from 10 percent to 9.6 percent for Santa Clara County. The rate was 11.6 percent in San Benito County.

San Mateo County's unadjusted jobless rate was 8 percent, down from 8.3 percent in August.

California's unemployment rate dropped to 11.9 percent from 12.1 percent in August. The nation's jobless rate is 9.1 percent.

The number of unemployed in the San Jose metro area was almost unchanged, at nearly 90,000, while the labor force added more than 5,000 people seeking work. That also helped lower the jobless rate.

http://www.mercurynews.com/bay-area-news/ci_19167721?IADID=Search-www.mercurynews.com-www.mercurynews.com

Fall Is In The Air

Thu, 20 Oct 2011 00:00:00 -0700

Fall Is In The Air

Fall means back to school, beautiful foliage changing colors, the start of football season, holiday preparation, and continued low inventory in the housing world. Inventory remained at record lows in September - Santa Clara County had 2.2mo supply of inventory and 2.6mo in San Mateo County.

As you can see from the summary below, the Silicon Valley market is not equally hot everywhere you look, as inventory levels and buyer demand differ by location. It continues to be a multiple offer market for some areas like Palo Alto, Menlo Park, Los Altos and Mountain View, and also in areas like San Jose where there are prime investment opportunities.

Market Snapshot:

2011 API Scores Released

The state released the Academic Performance Index (API) scores of each district and school in California last week, one of the most commonly cited measures to which parents refer when looking for a place to live.

Los Altos School District, comprising seven elementary and two junior high schools, came out on top with an API score of 969 out of 1,000. It tied with Hillsborough City School District, its Peninsula neighbor 25 miles to the north, which comprises three elementary schools and one middle school.

Cupertino Union School District (CUSD) was the next highest and scored 955. Four of the five top-scoring schools in the state were from Santa Clara County, including CUSD's Faria and Murdock-Portal elementary schools, which scored 998 out of 1,000. Santa Clara's Millikin Elementary (in the Santa Clara School District) was second, with a 997 score, and Hoover Elementary (Palo Alto Union School District) had an API score of 995.

The state benchmark score is 800.

Thirteen of the top 25 elementary schools in the state hail from Santa Clara County; half of the top 10 middle schools; and two of the top 10 high schools.

For a full report please see the Department of Education's website.

Summer Wrap Up

Fri, 26 Aug 2011 00:00:00 -0700

Summer Wrap Up

We are truly fortunate to live and work in what seems like a beacon of light. Silicon Valley's housing market continues to improve and stand alone vs. the rest of the nation. Our current level of housing inventory is at an all-time low and it seems buyer demand is only increasing, putting continued upward pressure on prices. Residential rents continue to rise substantially, and have skyrocketed up +12.6% in Q2. Looking ahead into Fall, we expect housing demand to continue due to record-low mortgage rates, employment hiring, investing and relocating to beautiful Silicon Valley.

Market Snapshot:

What makes Sereno Group such a remarkable and unique company?

Thu, 26 May 2011 00:00:00 -0700

Here is a wonderful video to shed some light on Sereno Group and the family I am so proud to be a part of:

Enjoy!

Please join us for the 2nd Annual Network for the Cure BBQ happening at Shoup Park in Los Altos on June 8th!

Tue, 24 May 2011 00:00:00 -0700

A great event for an even greater cause!

All proceeds will go directly towards American Cancer Society’s
Relay for Life fundraising efforts

Checks made out to “American Cancer Society” are tax deductible.

FOOD
Including barbecued burgers, hot dogs, and lots of sides
$20 - Adults
$10 - Kids, ages 7-13
Free - Kids 6 and under

DRINKS
Free - SOFTDRINKS (free with food purchase)
$3 (suggested donation) - Beer & Wine
$3 (suggested donation) - Margaritas

Sponsored by Sereno Group Real Estate.

Hope to see you there!

Sereno Group Open House Weekend Guide - 5/14 & 5/15

Fri, 13 May 2011 00:00:00 -0700

In the market to buy a home or looking to spend some leisurely time this weekend touring the newest properties on the market? Here is your Sereno Group Weekend Open House Guide for all listings, dates and times available this weekend! We hope to see you!

Sereno Group E-Recycling Day

Mon, 09 May 2011 00:00:00 -0700

Are you in the midst of Spring Cleaning season and would like to know where to donate your old electronics?

Sereno Group is hosting an E-Recycling Day on May 21st from 9am-1pm in our Los Altos office @ 369 S. San Antonio Rd.

Please come by and bring your old monitors, TVs, laptops, cell phones, wire, cable, scrap metal, printers, fax, copy machines, CD players, microwave ovens etc. and ensure they are recycled properly.

It's Easy. It's Free. It's GREEN!

JUST LISTED + Sereno Group Market Dynamic Snapshot

Mon, 11 Apr 2011 00:00:00 -0700

Santa Clara and San Mateo County Highlights

With recent reports in the media discussing the dip in national real estate prices, it's important to remember that it's just that: national level data and cannot always be tied to the specific Bay Area markets. The problem with looking at data on a national level is that it's just too general; real estate has always been and will continue to be driven by local forces. There has been misleading information published in the Mercury News indicating a Silicon Valley home slump, but in all reality our prices remain flat and stable. Depending on which day of the week the media decides to pull the information, the outcome and analysis will be different. In our day-to-day business practice, we look at specific neighborhood trends and housing types when discussing the overall climate, and this is the information we pass onto you.

In Silicon Valley, we are making slow but noticeable progress. Entrepreneurship is alive and well, and consumer confidence continues to rise (spending jumped 0.7% in February). There is a lot of pent up buyer demand in the housing market - we saw more multiple offers in the month February then in all of 2010. The high-end and off-market/exclusive inventory has come back with prices slowly rebounding to support the sales. Over the next few months we will begin to see how much of the pent-up demand comes to fruition during the traditional spring-summer home-buying season. Our sense is that we could see sales jump significantly from today's levels if the economic outlook improves and interest rates remain at these historic lows. On the employment front, the Silicon Valley area had the second most jobs added for California during the last year (140,000), according to figures from the U.S. Bureau of Labor Statistics, and this trend continues into 2011 paving the way for more hiring and investing. GDP is slightly higher than it was at this time last year and consumer spending looks stronger, so people are willing to deploy capital and replenish inventories.

We are starting to see the lowest days on market for housing inventories in areas like Palo Alto and Cupertino than we have in the last three years. Currently, we have 1.6 months supply of inventory in Cupertino with 18 days on market, and a fairly competitive pricing landscape. A property in prime Cupertino just listed last week with 4 bedrooms, 3 bathrooms, 2,100sf and nicely re-modeled for $1,378,000 sold the weekend it came on with 5 offers and slightly over asking price. This was of course a matter of the property itself, and was most closely tied to pricing and perceived value for the buyers.

Santa Clara & San Mateo County Highlights:

The Median Home Price in Santa Clara County declined slightly -1% from $480,000 in January 2011 to $475,000 at the end of February 2011. Looking at specific markets, in Palo Alto the median price for single-family homes increased +8% from February 2010 to February 2011, to $1,674,000. In addition, the average days on market for Palo Alto dropped to 37 days from 72 in February as inventory began to move quickly.

In San Mateo County, Median single-family home price increased +5.2% in February to $605,000 from $575,000 in February 2011.

Supply & Demand: The number of for-sale properties in SCC is currently down -18.1%. While we've seen the number of properties in contract decline in February from the numbers in January, but the year over year numbers are up 39%, indicating healthy growth in the local market. We had 1,631 pending sales in February 2011 vs. 1,173 in February 2010. In SMC, the number of under contract properties is up +1.6%, and the sold/closed escrows up +4.4%.

We currently have a 2.4 months supply of inventory in Santa Clara County and 3.2 in San Mateo. This is a 2-year low for both counties, and is one marker that should be given particular attention to as this is being met with increasing buyer demand in a variety of price ranges. Days on market continues to decline for both counties, and is now at 70 days for SCC and SMC.

Sales Absorption & Percent of Properties Under Contract

Santa Clara County

February 2009: 1,022 or 11.2% of Total Properties UC
February 2010: 1,173 or 16.7%
February 2011: 1,631 or 25%
- In Palo Alto, 24% of all properties are UC with 1.4 Month's supply and 34 DOM
- In Los Altos, 20.% of all properties are UC with 2.2 MSI and 69 DOM
- In Mountain View, 22% of all properties are UC with 1.7 MSI and 31 DOM
- In Cupertino, 28% of all properties are UC with 1.6 MSI and 18 DOM

San Mateo County

February 2009: 321 or 11% of Total Properties UC
February 2010: 364 or 14%
February 2011: 549 or 21%

JUST LISTED

Artistic Loft Style Living in Atheron - 29 Almendral

This Modern three bedroom, two bath home has been stunningly and artistically rebuilt with the finest care, thought,and quality; large spacious rooms seamlessly blend into one another creating an expansive and serene atmosphere. The home is complete with charcoal bamboo floors throughout, skylights and french doors that bring natural light into the home. The kitchen has a five burner gas stove, wenge custom made cabinetry, double ovens and a microwave drawer. Breakfast bar and counter are made from Siles Stone from Spain honed to a perfect finish. Energy efficient updates include "green" lights (automatically turn off after 10 minutes), bamboo floors, and dual heating systems. There are large walk-in roman showers in both bathrooms, glass doors and a large square Japanese soaking tub in masterbath. With french doors leading to yard, it is a perfect home for indoor/outdoor entertaining. Offered for $1,795,000. Virtual Tour

· 3 bedrooms · 2 baths · Approximately 2,265 sf · Approximate lot size 6,750 sf ·1 car detached garage ·

An Enchanted Setting in Los Altos Hills - 10696 Mora Drive

Follow the brick walkway under wisteria covered trellises to an enchanted setting. This lovely California contemporary ranch is located on a quiet, private drive adjacent to Rancho San Antonio Preserve and is minutes to hiking trails, freeway access, Rancho San Antonio shopping center and Loyola Corners. With 4+ bedrooms, 3 and 1/2 bath and a 3 car attached garage, this home boasts spectacular views of the hills, open space and is an ideal setting for intimate gathering or large entertaining. It has a pool, living room with French doors overlooking lush landscape, great room with built-ins, floor to ceiling rock fireplace and windows viewing the pool area. It has a versatile floor plan with an apartment & kitchen. Offered for $2,550,000. Los Altos schools. Virtual Tour

· 4+ bedrooms · 3.5 baths · Approximately 3,584 sf · Approximate lot size 1.5 acres ·3 car attached garage ·

Earthquake Preparedness

In light of the recent disaster and tragic events in Japan, we have created a helpful Earthquake Preparedness Checklist which we strongly encourage you to review and put together for yourself and your family if you haven't already.

Our hearts and thoughts go out to all of those affected by the devastation.

Just Listed - Artistic Loft Style Living in Atherton

Tue, 05 Apr 2011 00:00:00 -0700

Just Listed - Artistic Loft Style Living in Atherton. We had a busy Broker's Tour this morning to preview and showcase the property to Realtors; over 35 agents attended (many whom remembered what this house used to look like before it was torn down to the studs and remarkably re-done). As mentioned in the flier below, this modern home has been stunningly and artistically rebuilt with the finest care, thought and quality; large spacious rooms seamlessly blend into one another creating an expansive and serene atmosphere. It boasts 3 bedrooms, 2 bath approx 2,265sf, with lot size 6,750sf. The list price is $1,795,000.

29 Almendral, Atherton - Flier

Living and Kitchen Area

Kitchen, Living and Dining

Family/Den View

Master Bedroom

Side Yard

Opa! is coming to Downtown Los Altos!

Mon, 04 Apr 2011 00:00:00 -0700

Happy Monday everyone - I have exciting news to share with you. Opa!, the delicious, family-friendly and popular Greek restaurant currently located in Willow Glen and Los Gatos has made plans to open doors in downtown Los Altos! They will be located in the old Zitune restaurant space on 325 Main Street. The timeline is TBD but I will of course keep you udpated when I have more details. http://www.opawillowglen.com/

I would also like to share a recent article that was published in the Mercury News over the weekend. We predicted this housing turnaround at the end of 2010, and now the high-end sales in Silicon Valley are finally making headlines!

Here is the article for your reference:
http://www.mercurynews.com/real-estate/ci_17754937?source=rss&nclick_check=1

Wise Words from Carol Rodoni at the SILVAR District Meeting in Palo Alto

Sat, 02 Apr 2011 00:00:00 -0700

Silicon Valley is the “oasis in the desert,” and buyers should take advantage of present conditions

Carole Rodoni

Real estate consultant Carole Rodoni didn’t mince words when she talked to Silicon Valley REALTORS® at SILVAR’s Palo Alto District this morning. She is appalled at how lawmakers have handled the budget, the deficit, short sales and foreclosures, and even the war in Libya, but with regard to Silicon Valley real estate, Rodoni is upbeat.

The former president of Fox & Carskadon Realtors, former COO of Cornish and Carey Real Estate and Alain Pinel Realtors, and now president of Bamboo Consulting Inc. says the media can talk about a slump in the housing market, but the San Francisco Bay Area is an “oasis in the desert.” This region is the gateway to the Pacific Rim, with the best universities, diversity of culture and education.

“People aspire to live here and there is no more land here. Land is valuable and land here will keep its value,” says Rodoni. “At the end of the day, how can anyone say Silicon Valley isn’t alive and well?”

What should REALTORS® tell buyers? “Tell them they are getting a free gift right now,” Rodoni says.

Prices have come down a bit, interest rates have edged up from 3 percent to about 4 percent, but they are still low. She predicts rates will rise even more by the end of this year, possibly to 5 percent or more, and perhaps 6 and 7 percent in three years because of inflation. “The stars have aligned here,” according to Rodoni. “Where do you find this affordability?”

Rodoni says buyers should “buy it, hold it – don’t spin it, and keep it for at least five years.” Also, while buyers should pay attention to interest rates, she says they should also watch out for lending fees because she is sure they will increase.

“Loans will be 5 to 8 percent more expensive than last year,” Rodoni says. “At the end of the day interest counts, but understand that everything is going up because of loan fees. If you are a buyer, while it’s good to look at price, look also at loan fees. Match interest rate to the loan product.”

She says buyers should ask themselves these questions: Is it the right price? Is it the right place? Examine where you are looking. Will it appraise for that price? Is the lender going to like it? Then she cautions: Do not attempt to low ball when you’re facing a multiple offer situation. How high are you going to go? Especially in this region, you cannot sit with terms and conditions.

“It would be like playing football in a baseball diamond,” she says. “Investors know there is value here and they will continue to come in. Silicon Valley is the bread and butter market. They see the sweet spot and will fight to get it.”

www.silvar.org

How will the mortgage interest deduction (MID) decrease hurt you?

Thu, 24 Mar 2011 00:00:00 -0700

The Mortgage Interest Deduction (MID) may be under attack again. As the 112th Congress struggles to finalize a budget plan for this year, everything is back on the table. House Speaker John Boehner (R-OH) recently stated that MID for second homes is becoming harder and harder to justify in these difficult times. So might be the MID for homes greater than $500,000.

If these rollbacks to the deduction are put into law, it will be devastating for Silicon Valley homeowners and the overall housing market. But how will it impact you? As part of the National Association of REALTORS® (NAR) Home Ownership Matters campaign, NAR has released an APP that calculates how homeowners do and will benefit for the preservation of the mortgage interest deduction.

The MID Calculator allows homeowners to estimate the tax savings value of the mortgage interest rate deduction. Use the buying power calculator to see how your housing dollars are optimized by the tax savings. This APP is compatible with iPhone, iPod touch, and iPad.

By SILVAR Government Affairs

Update on Downtown Los Altos Construction

Wed, 23 Mar 2011 00:00:00 -0700

The closure work at Third & State Streets will continue through next week. A concrete electrical cabinet found under the street has caused a delay in the project. The schedule adjustment will result in the start of the closure work at Second and State Streets to be pushed back until the week of April 4. This new start date is contingent on the weather and is subject to further adjustments.

Electronic Waste Collection at Los Altos High School This Weekend

Fri, 04 Mar 2011 00:00:00 -0800

Are you spring cleaning to prepare your home for market and need green ideas for where to dispose of electronics and appliances no longer needed?

This Saturday, March 5th from 9am-3pm, Los Altos High School will be holding an electronic waste collection. You can drop off anything from TV's, computers, microwaves, monitors, lamps to hair dryers etc. and ensure they are disposed of properly.

The address is 201 Almond Avenue., Los Atos, CA 94022

Make sure you take advantage of this and do what's right for the community and environment!

Downtown Los Altos Construction - Update

Tue, 01 Mar 2011 00:00:00 -0800

This morning I attended a meeting held by the City of Los Altos and Los Altos Village Association (LAVA) to hear updates on the construction and development for downtown Los Altos. Roughly $6M of city funds as well as $100M+ of private funds are being funneled into this project, which will bring a revitalized and vibrant new downtown encompassing retail, office and public improvement projects. What I specifically heard updates on were the public improvement projects, which include expansion of seating areas/sidewalks, replacement of plants, landscaping, addressing of drainage issues and focus on increasing pedestrian safety. A large portion of the construction has already begun, updating utilities, water and sanitary sewer replacements on First Street. Construction of the Intersection Improvement Project will commence the week of March 13, 2011, and conclude June 20, 2011. The construction is expected to affect the following intersections:

Third & State Street: March 13 - March 20, 2011
Second & State Street: March 28 - April 4, 2011
Second & Main Street: April 18 - April 25, 2011
Third & Main Street: April 28 - May 5, 2011

Although the construction, noise and thus potential shopper/pedestrian deterrent is the most worry-some for downtown business owners and merchants, the city is working hard to ensure businesses are as minimally affected as possible. Temporary sidewalk installations have been planned, and the contractors are working around the clock to ensure the project is completed within the time frame promised. I know it seems like this summer may turn out to be a loud and noisy one for Downtown Los Altos, but once all is said and done we will have a beautiful new downtown landscape in this spectacular city, ensuring the overall health and future of Los Altos stays in tact for years to come.

In an attempt to provide full disclosure, the city of Los Altos has provided an interactive map which highlights the eight major improvement projects and the overall timeline: Below is the map with link for your reference:

http://www.ci.los-altos.ca.us/downtown/index.html

When Is Loan Modification a Bad Idea?

Fri, 25 Feb 2011 00:00:00 -0800

The DeVonna Home Show guest, Mark Strombotne gives a legal update to underwater homeowners. Mark is a Bay Area expert in Real Estate Law, that we at Sereno Group work closely with. Mark and DeVonna discuss current issues revolving around the legal prespective that property homeowners are facing today and gives insight to important decisions people face in todays Real Estate economy.

February 2011 Market Dynamic Report

Thu, 24 Feb 2011 00:00:00 -0800

Santa Clara and San Mateo County Highlights

In January, we continued to see price variation in Silicon Valley and the Peninsula, with the overall Santa Clara and San Mateo county median home price declining -6% and -12%, respectively. This is largely driven by seasonality and we expect to see an uptick in prices in February. However, in January we saw multiple offers becoming more frequent. All-cash buyers and many investors came back into the market, targeting foreclosures, tear-downs and income producing property. Though there has been a recent spike in foreclosures, they are still below last year's levels.

While we are all still jittery from the market crash, we are cautiously optimistic with the buzz centered around job growth for Silicon Valley and what the tech, health, and energy industries will bring for the overall local economy. Consumer confidence has continued to rebound, increasing from 64.8 in January to 70.4 in February to date.

Santa Clara & San Mateo Counties : January 2011

The Median Home Price in Santa Clara County declined from $499,000 in December 2010 to $468,000 at the end of January 2011. As mentioned above, this is a typical early year decline that we have seen from December/January in each of the past 3 years. January 2011's median is slightly lower than January 2010 ($475,000) but higher than January two years ago ($417,000). Based on increasing sales activity moving into higher price ranges, we anticipate reaching a two-year high in the median as we move further into 2011.

Similarly, San Mateo County Median declined from $600,000 in December 2010 to $525,000 at the end of January 2011. The median is lower than January of 2010 ($575,000) but slightly higher than January two years ago ($515,000).

Supply & Demand: The number of for sale properties in SCC is currently down -20.1%. Properties under contract are up slightly +2.3% in SCC and in SMC +10.4%. We would like to point out that year over year, the number of under contract properties are up significantly: in January of 2010 in SCC there were 1,007 properties under contract, and in January 2011 there were 1,585 pending sales at month's end! Sold/closed escrows are +2.4% in SCC and impressive +24.3% in SMC.

We are starting out 2011 with 2.3 months supply of inventory in Santa Clara County and 3.3 in San Mateo. This is a 2-year low for both counties, and is one marker that should be given particular attention to as this is being met with increasing buyer demand in a variety of price ranges. Days on market is hovering at 75+ day range in January which is typical for this time of year.

Sales Absorption & Percent of Properties Under Contract

Santa Clara County

January 2009: 977 or 10.4% of Total Properties UC
January 2010: 1,007 or 16.6%
January 2011: 1,585 or 26.7%
- In Palo Alto, 33.8% of all properties are UC with 1.7 Month's supply and 45 DOM
- In Los Altos, 20.7% of all properties are UC with 3.5 MSI and 56 DOM
- In Mountain View, 26% of all properties are UC with 2.3 MSI and 42 DOM

San Mateo County

January 2009: 312 or 11.2% of Total Properties UC
January 2010: 367 or 16.6%
January 2011: 483 or 20.5%

Neighborhood Watch

Los Altos

Every month we will begin to feature a neighborhood snapshot and highlights from around the Peninsula and Silicon Valley. This month we have an eye on Los Altos and the deep-rooted history that makes it such a beautiful place to live. Since incorporation in 1952, then-encompassing apricot and plum orchards, Los Altos has grown to a community of mostly single-family homes and tree-lined streets, with 7-square miles located in between Mountain View and Los Altos Hills. Known for it's excellent schools and neighborhoods, Los Altos supports seven commercial areas developed with small businesses, schools, libraries and churches, and close to 30,000 residents.

Old Los Altos, as the neighborhood is appropriately called because it was the original town, is defined by El Monte and Edith Avenue, Foothill Expressway, and what is now Los Altos Hills. A relatively small neighborhood, most of the lot-sizes are one-quarter acre, with houses built in diverse architectural styles dating as far back as the early 1900's. Prices in this neighborhood have remained stable over the past year: from 2009-2010 prices varied +/- 5% with the average home selling for $1.86M. There are currently 2 active properties on the market in Old Los Altos and no pending sales. In 2010, 8 homes sold in this neighborhood, the same number as in 2009. This sought after neighborhood is highly desirable because of the history, proximity to downtown, local parks and schools in the area.

Housing Finance Market Reform Update

On February 11, the Obama Administration released its plan for reforming America's Housing Finance Market. The proposal, which offers three options for handling the secondary mortgage market participants Fannie Mae and Freddie Mac (full privatization, a guarantee mechanism during crisis, and catastrophic re-insurance), also

proposes criteria that would foster increased down payments to 10%, lowering GSE and FHA loan limits, and raise the GSE's guarantee fees (g-fees) and FHA premiums significantly, in an effort to level the playing field and bring back the private sector. The National Association of Realtors recognizes that the existing system failed and that changes are needed to protect taxpayers from an open-ended bailout; however, they also believe that there must be a certain level of government participation to provide middle-class families access to afforable mortgages at all times and in all markets. To read the administration's report, please visit Realtor Government Affairs

Looking Ahead in the New Year

Wed, 26 Jan 2011 00:00:00 -0800

Economists say a variety of things about the current state from it's recovering to it will take a double dip. In the end, we are saying goodbye to the bottom and setting our sites on upward movement for 2011. We will see some job growth which will prove a positive upward motion and fuel the housing recovery. Many buyers in the market who have held out in 2010 due to the uncertainty in the job and housing market will finally make the move and buy, taking advantage of the lowest mortgage rates we have seen in almost 50 years. At Sereno Group, we are forecasting a +15% increase in overall sales volume for 2011 over 2010. We anticipate home prices will remain mostly flat/stable with 1-3% +/- variation depending on specific market areas, the rate of continued economic recovery and other variables such as continued foreclosures which will be the driving force behind price variation. While distressed properties continue to effect pricing into 2011, the number of borrowers holding underwater mortgages in the Bay Area declined to 9.5% from 10.5% in 2009, signaling that the pace of troubled mortgages in the market is slowing.

Santa Clara & San Mateo Counties : Q4 2010

The Median Price in Santa Clara County clicked up in November 2010 at $510,000, down slightly from October at $525,000 and dipped in December -1.8%. More importantly, in 2010 the median price was up +14.1% vs. 2009, so we have strong momentum going into 2011. Similarly, San Mateo County Median increased from $595,000 in October to $622,500 in November, and then dropped slightly in December. For the year, the median price was +7.4% compared to 2009.

Supply & Demand: For sale properties in SCC is currently down -22.7% as we begin 2011. Properties under contract continues to remain strong +22.9% in SCC and in SMC +40.9%. Nationwide, the number of pending contracts increased +10% in Q4 so the Bay Area continues to lead the country in it's recovery. Sold properties remain an impressive +23.9% in SCC and +42.9% in SMC. The general pattern and direction of this market for the past 12-18 months continues to be declining overall supply/inventory combined with increasing sales and closed escrows. We closed out 2010 with the lowest months supply in the past two years at 2.9 months in Santa Clara County and 3.8 in San Mateo. This is compared to a peak of 14.2 months supply in January 2008. Days on the market now stands at 75 days for both Santa Clara and San Mateo Counties, which is up from the last 7-8 month average of 60 days.

Sales Absorption & Percent of Properties Under Contract

Santa Clara County

•December 2008: 661 or 12% of Total Properties UC
•December 2009: 673 or 22%
•December 2010: 891 or 35%

San Mateo County

•December 2008: 210 or 13% of Total Properties UC
•December 2009: 256 or 22%
•December 2010: 295 or 27%

We are experiencing an increase in pending sales activity carrying well into the New Year. This momentum and level of sales activity has not been seen in four years. As an indicator of overall improvement in the Bay Area real estate market in comparison to 2009, Sereno Group remained significantly up in sales volume (+40%) in 2010 and is anticipating similar growth in 2011.

Sereno Group Ranked as #1 Best Place to Work in the Entire Bay Area for 2010 by Bay Area News Group

Tue, 29 Jun 2010 00:00:00 -0700

Rank	Company	Founded	Ownership	Sector	Locations	Employees
1	Sereno Group Real Estate	2006	Private	Residential	4	131
2	McManis Faulkner	1971	Private	Law	1	52
3	Blach Construction Company	1970	Private	Construction	3	112
4	Clearwell Systems Inc.	2004	Private	Enterprise Software	1	51
5	iD Tech Camps	1999	Private	Summer Technology Programs	6	63
6	Medallia Inc.	2000	Private	Enterprise Software	1	60
7	APN Software Services Inc.	1996	Private	Engineering consultancy	1	56
8	Bailard, Inc.	1969	Private	Investment Management	1	50
9	Alliance Manufactured Homes	2006	Partnership	Residential	4	50
10	A10 Networks	2004	Private	Networking and Application Delivery	1	67
11	Integrated Archive Systems, Inc.	1994	Private	Data Management Solution Provider	2	56
12	Pacific Service Credit Union	1936	Cooperative/Mutual	Credit Union	6	88
13	Alameda County Community Food Bank	1985	Nonprofit	AntiHunger Services and Education Outreach	1	54
14	Encore Industries Inc	1997	Private	Metal Products	2	77
15	Hillbrook School	1935	Nonprofit	Independent Elementary Schools	1	55
16	Merced Systems	2001	Private	Enterprise Software	1	136
17	Easter Seals Bay Area	1927	Nonprofit	Human services	6	83
18	The Cooper Companies, Inc.	1980	Parent company	Medical Devices & Products	1	51
19	Abbott Stringham & Lynch	1977	Private	Accountancy	1	50