944 Sladky Avenue is a 3 bedroom, 2 bathroom home that is located just around the corner from the neighborhood park (Varsity Park).  It is also just a few blocks from an excellent shopping center (Blossom Valley Shopping Center ) that is home to Safeway, Starbucks, the post office, CVC Pharmacy as well as many other stores and restaurants.  It also is just a few blocks to one of the best elementary schools in the area (Springer Elementary – 963 API).  Children would also attend Blach Intermediate School (944 – API) and Mountain View High School (865 – API).  The list price is $1,098,000.

This home has been beautifully remodeled and expanded.   It has a flexible floor plan that includes a remodeled kitchen that opens to the sun lit family room, a separate dining area, a spacious living room, and two large bathrooms.  There are nine skylights that provide an abundance of natural light.   Lastly, there is an over-sized one-car garage with built in storage.  See photos and virtual tour of the property below.

The front and back yards where designed to be attractive and edible.  The property features many drought tolerant and native species of plants as well as edible herbs (Sage, Thyme, Rosemary, and Oregano).  There are also many prolific fruit trees (Apple, Plum, Orange, Guava, and Lemon).  The property is on an automated sprinkler and drip watering system.

I will be holding this home open June 26th and 27th from 1:30 – 4:30 p.m.  Please stop by!

[View with PicLens]

Click on the Obeo Power Tour icon below for a virtual tour of 944 Sladky Avenue, Mountain View

This freshly painted home has an excellent floor plan and features a spacious living room with vaulted ceiling, large family kitchen with island, 3 spacious bedrooms, 2 bathrooms (one completely remodeled) and a 2-car attached garage.   See photos and virtual tour below.

Children would attend Parkview Elementary school (API score of 824), Davis Intermediate School (API score of 744) and Andrew Hill High School (API score of 683).

Lastly, this home is not a short sale property or owned by a bank, so any potential buyer can be confident that all offers will be responded to within a reasonable time frame. 

The home will be held open this weekend (June 26th and 27th) from 1:30 – 4:30 p.m..  Please stop by.  You might be surprised by this great value.

[View with PicLens]

Click on the Obeo Power Tour icon below for a virtual tour of the property

33 single family homes closed escrow in Mountain View in the month of May.  Note:  On average, we see 40 homes close escrow in the month of May.  5 homes closed escrow above 1.5 million, with the highest selling at 2,475,000 million.  Interesting fact about this property; a developer originally bought the property and partially built out four homes before having financial problems.  These homes sat partially constructed and exposed to the elements for a significant time.  The new buyer will no doubt finish the construction and sell the homes. 

33 single family homes closed escrow in Mountain View in the month of May.  Note:  33 homes sold is the 12 year average of single family homes sold in Mountain View in the month of May. 

Lastly, at least 12 properties had multiple offers and sold at or above their asking price.  The highest over bid came in at 9.2% above the asking price.

Click Mountain View Real Estate Market Update – May 2010 for a detailed 24-month history of single family home sales activity in Mountain View.  Note: all data was taken from our local MLS and is deemed accurate but not guaranteed. 

For a more detailed look at the Miramonte or Grant neighborhoods of Mountain View, click on the below links:

Real Estate Market Update for the Miramonte Neighborhoods of Mountain View - May 2010  

Real Estate Market Update for the Waverly Park Area of Mountain View - May 2010  

Should you have any questions about your home and/or it’s value relative to our current market, please contact me directly at 650 917-4250.

The higher end of the market is still tough.  Five homes priced above 2.5 million are under contract with the highest coming in at almost 4.2 million.  Only four homes closed escrow above 2 million in May, with the highest selling at 2.75 million.

Thirty single family homes closed escrow in the month of May.  Note:  On average, we see 40 homes close escrow in the month of May.

Lastly, twelve properties had multiple offers and sold above their asking price.

Click Los Altos Real Estate Market Update – May 2010 for a detailed 24-month history of home sales activity in Los Altos. Note: all data was taken from our local MLS and is deemed accurate but not guaranteed.  For a more detailed look at your neighborhood, click on the below links:

Real Estate Market Update for South Los Altos - May 2010 

Real Estate Market Update for the Highlands Neighborhoods of Los Altos – May 2010 

Real Estate Market Update for the Country Club Neighborhoods of Los Altos – May 2010 

Real Estate Market Update for North Los Altos – May 2010 

Should you have any questions about your home and/or it’s value relative to our current market, please contact me directly at 650 917-4250.

The life span of a typical short sale listing in Los Altos/Los Altos Hills goes as follows:

• The property is originally listed at a price very close to the debt on the property plus the transaction costs and maybe a little profit
• The property sits on the market for quite a looong time with no activity
• The Seller realizes that they are financially bleeding from every Orifice
• The property is re-listed at a below market value in an effort to induce offers
• The Seller receives multiple offers which are reviewed and submitted to the bank/investor(s)
• Everyone waits to see if a deal can be worked out.  Some are, but many aren’t

Below is a graph of short sale properties that are currently or have recently been on the market in Los Altos/Los Altos Hills.  I have included the original list price, current approximate debt and list price when the property ratified a purchase offer with the seller.

The actual numbers are below.

Sellers, a home’s value is not based on its loan balance.  Price it to the market and try to move on.

If you are thinking of buying a short sale property, check out the amount of debt on it and the number of lenders involved.  It may make sense to pass on it if there is too much debt or more than two lenders.

It is unknown how quickly Congress will move to reinstate this federal program when they return to Washington on April 12^th.  As such, we are facing a minimum of a 2 week gap in the availability of this important federal program.

Buyer Tip: check to see in there is any effect on the funding of your loan with your lender prior to removing the financing contingency.  Otherwise you may up a creek without a paddle or a boat.

The higher end of the market saw an increase in activity in March.  Three single family homes priced above three million sold, including one home that sold close to six million.  This all cash deal closed within a week of being listed.

Thirty four single family homes closed escrow in the month of March.  Note:  34 closed sales is the 12 year monthly average of closed escrows for March.

Eight properties had multiple offers and sold above their asking price.

Click los altos real estate market update – March 2010  for a detailed 24-month history of home sales activity in Los Altos. Note: all data was taken from our local MLS and is deemed accurate but not guaranteed.

Should you have any questions about your home and/or its value relative to our current market, please contact me directly at 650 917-4250. Thanks for reading.

The 76-page 2010 Index reports the latest data and trends in economic development, workforce, housing, education, public health, land use, environment, governance, arts and culture and other sectors throughout Santa Clara and San Mateo Counties and portions of Alameda and Santa Cruz Counties. An accompanying Special Analysis section of the report each year takes a closer look at a particularly significant topic.

Some of the issues highlighted in the publication include:

• Shifts in methods of funding innovation
• Governmental forces negatively effecting the region
• Decline in employment opportunities
• Housing affordability
• High commercial vacancy rates

All is not bad, but the report is not overly optimistic.  If you like analytics and statistics than this is the publication for you.

Under a newly enacted California law, a home buyer may receive up to $10,000 in tax credits for purchasing a qualifying single-family residence in 2010.   The credit is claimed over the next three years (e.g. $3,333 for 2010, $3,333 for 2011, and $3,333 for 2012). 

There is a total of 100 million in tax credits available and once the credits are gone, they are gone.  The beauty of the program is that there are no income restrictions or maximum purchase price requirements.  The program is perfect for those wanting to buy their first home in Silicon Valley .

Note: In addition to the first time home buyer credit, there is a total of 100 million in tax credits set aside for new home buyers as well.

Further details of the program can be found by clicking here.

If you are think of buying your first home in Silicon Valley and you are a first time home buyer, please give me a call at 650 917-4250.

February sales of single family homes continued to be sluggish in Mountain View with only six homes closing escrow.  This is slightly above last years total of four, but far below the 12 years average sales number of 18.

Oddly enough, listings in Mountain View were up.  Therefore, February’s slow sales activity can’t be blamed on a lack of inventory.  In February, homes located west of El Camino Real had the highest interest.

Click  Mountain View Real Estate Update – February 2010  for a detailed 24-month history of home sales activity in Mountain View.  Note: all data was taken from our local MLS and is deemed accurate but not guaranteed.

Should you have any questions about your home and/or its value relative to our current market, please contact me directly at 650 917-4250.  Thanks for reading.