The Los Gatos real estate market seems to be improving as more homes are selling now than in recent months. The “absorption rate” has been declining and is now well under the 6 months that differentiates a buyers vs a sellers market. Many are thinking that the worst is behind us.
And if that is the case, now really is the “best time to buy” in Los Gatos, San Jose, Saratoga, or anywhere in Silicon Valley.
Recently I listed a great, sunny home and it will be held open this weekend (Sat 2-4, Aug 9). If you are looking to buy a house in Los Gatos, with the schools and close to shops, stores, banks and restaurants, you will want to know about this home and see it ASAP!
120 Magneson Terrace (off Magneson Loop and Los Gatos Blvd), Los Gatos, CA 95032
Offered at $1,250,000 – New Roof as of late June!!
- 3 Bedrooms
- 2.5 Bathrooms
- Living Room, Dining Room, Study (or Music Room or Library)
- Lovely Hardwood Floors Throughout (all but bathrooms)
- Appx 1800 SF
- Lot Size appx 8700 SF
- Los Gatos Schools very close by
- Home situated on a quiet cul-de-sac
- Air Conditioning & Extra Insulation
- Laundry Room
- Attached 2 Car Garage
- So close to the schools and shops that it’s “walk to”, “bike to”, “scooter to” and for driving, “less than 2 minutes to” – no matter how you get around, this home is close to schools and shops!
A quick introduction to downtown San Jose via YouTube. Downtown San Jose is Sharks Territory (NHL team), home to a diverse number of theaters and museums (including a quilting museum) and a huge variety of shops and restaurants. When the Sharks aren’t playing at the Arena, the Shark Tank becomes a musical venue too.
In summer, fireworks and many events draw large crowds downtown.
In winter, downtown offers Christmas in the Park and a palm tree encircled ice rink as wonderful ways to enjoy the sunny, cool days downtown. The Catholic Cathedral features free musical concerts for all from many groups around Silicon Valley, with each concert performed twice in many of the evenings leading up to Christmas.
There’s loads to do in downtown San Jose!
Did you know that there are some things which your Realtor or real estate licensee/salesperson is prohibited from discussing with you? This is a surprise to many Silicon Valley home buyers.
Fair Housing Laws prevent real estate professionals from telling consumers certain types of information, particularly demographic information, anywhere in the United States. For instance, your agent cannot discuss with you these things:
- where racial groups have the highest concentration
- where people are found by religious affiliation
- where certain languages are spoken or not spoken
- whether or not there are halfway houses for alcoholics or other addicts nearby
- if neighbors are mentally ill
- whether someone died of AID or HIV (not the death, but cause of death)
Many Silicon Valley home sellers want to sell their homes As Is. In the case of short sales, it is likely that the sale will be As Is, and with foreclosed or bank-owned properties, you can be fairly sure that it will be an As Is sale.
But what does that mean, exactly?
As Is means that the home will be conveyed to the buyer at the end of the transaction in the same general condition it was in on the day that the buyers wrote the offer. If the roof has leaks, the crawl space is full of termites, and the appliances do not work, that is how it will be on the day escrow closes.
What it does not mean is that the seller can let the property condition deteriorate. The seller must continue to maintain the home and land in the same general condition. So if the lawn was green and well trimmed, the seller cannot suddenly let the grass die and neglect to mow it. If a baseball breaks a window after the buyer and seller have a ratified contract, the seller must repair it. The condition will not have to be better, but it should not be worse, either, than on the day the buyer and seller agreed on the price and terms of the sale.
The city of Campbell, California, was founded by Benjamin Campbell and local history of the region as “Campbell” goes back over 150 years. His first land purchase there occurred in 1851, and he planted it with grain and hay. This was a busy place during the orchard and fruit canning eras of the valley; it boasted three canneries in what is now the city of Campbell. Situated perfectly along the railroad line to Los Gatos, the Campbell area became a shipping center for the prized produce of The Valley of Hearts Delight.
Interestingly, while the city’s origins go back to the orchard era, Campbell was not incorporated until 1952. As with many other incorporations in Santa Clara County at that time, it was largely as a defensive maneuver against being swallowed up by the fast growing city of San Jose.
Today Campbell has a small town feel while offering a quaint downtown area, good schools, and more affordably priced homes (for our valley, anyway). Crime is low and there’s great community spirit. Downtown Campbell is a destination for many with some excellent restaurants, shops, art galleries and museums. Campbell is also home to several excellent parks and movie theaters and recently became tied in to the light rail system too, making it not just a great place to live, but also a great location for businesses who want to be more “green” and give its employees a better shot at using public transit.
See more articles on Campbell within this blog – the Campbell real estate market, events, photos and much more.
For more information about Campbell, visit the city’s official website at http://www.ci.campbell.ca.us.
Sitting at the base of El Sereno, part of the Santa Cruz Mountains, Monte Sereno is an upscale residential community snuggled between Los Gatos and Saratoga, California. The population is very tiny with about 4000 folks living in Monte Sereno any given time. It is composed of about one and a half square miles. This small city shares many services with the town of Los Gatos (such as schools and police). There are no businesses in Monte Sereno, only homes, the citys offices and the post office.
Real estate prices are high in this low-crime city, and while there are some modest homes, there are also some palatial estates featuring extreme amenities.
The geography is mostly flat to gentle hills, with much of it wooded. Redwood trees, oak trees, madrone and many others cluster together in the nooks and crannies of Monte Sereno. There are open places too, of course, with grassy fields. Along Daves Avenue, there are several streets that tie in together with a common horse stable, and it has meandering equestrian trails. Most of those homes are on half acre, level lots, with generous ranch style homes that back to the trails. This is a great neighborhood for horse lovers!
If you have a chance to visit Austin Way behind La Hacienda Restaurant and Inn, youll be delighted to find an old brick road, part of the heritage of Monte Sereno. And on the other side of Highway 9 along Austin Way, youll see a historic building recounting the citys agricultural past in Austin Corners.
John Steinbeck once called this area home – but later decided the rural hamlet was too crowded, so moved into the Santa Cruz Mountains to regain his serenity! It is said that he wrote ˜Of Mice and Men while living here.
|Official town website
The Town of Monte Sereno
|History, population, and more on this tiny town which is nestled between Saratoga and Los Gatos.
Wikipedia on Monte Sereno
Natural Hazard Reports are included in the disclosures when homes are bought and sold here in Silicon Valley. Those reports will indicate whether or not the property is located in areas with known natural hazards, including
- Flood Plains
- Liquifaction Zones
- Earthquake Fault Zones
- Unstable Soils Areas
But wouldn’t you like to know where those places are before ever writing an offer?
Many Silicon Valley Realtors utilize a tool that combines this natural hazard information with other boundaries that may be of interest to you, such as zip code lines, town boundaries, school district boundaries, district names within San Jose (like Berryessa, Cambrian Park, Evergreen, etc.) and so on. This is the Barclays Locaide and you can buy it online or in Realtor stores in the San Jose area. They arent cheap at just under $60, but they are extremely helpful and worthwhile for having a sense of where the issue areas are in Santa Clara County.
Saratoga is a highly desireable place in which to live, a great retreat from the hustle and bustle of Silicon Valley. Nestled into the Santa Cruz Mountains, it is just a few miles to the north of Los Gatos. Its an upscale town noted for great schools, low crime, scenic beauty, fabulous shops and restaurants, and stunning estates. Like most of the valley, this area was largely orchards and also some vineyards & wineries 50 or 70 years ago. In fact, the largest prune orchard in the world was once Hume Ranch, which had 680 acres of prune trees!
Exceptional entertainment is abundant in Saratoga. Take in concerts at The Mountain Winery (formerly called Paul Masson Mountain Winery) and at Villa Montalvo, two lovely outdoor venues for music, or go wine tasting or horseback riding at Cooper-Garrod off Pierce Road. The new Saratoga Library is a wonderful place to spend a rainy winter day too.
Los Gatos is a charming town snuggled into the base of the coastal range between San Jose/Silicon Valley and Santa Cruz, which is on the other side of ˜the hill as locals call it. Its an upscale community with great schools, shopping, restaurants, and community involvement. Diversity abounds in things to do, from sailing, rollerblading and picnicking at Vasona Lake County Park to wine tasting at the Testarossa Vineyards to strolling down the main streets in search of dining or shopping. Every season offers something in this smallish community of 30,000 or so.
The hills help to define Los Gatos. Facing the coastal range and the pass that leads to Santa Cruz, you see El Sombroso rising on the left and El Sereno on the right. Other well known peaks are Loma Prieta (the epicenter of the 1989 earthquake) and Mt.Umunhum, which rises over Almaden Valley (Ununhum was the Ohlone word for Hummingbird). Closer in, Blossom Hill is a small hill in front of El Sombroso over which you drive on Blossom Hill Road. Behind it is the Kennedy-Shannon Road area, which is delightfully remote feeling while really being close in. Near downtown, St. Josephs Hill overlooks Main Street and is the home to the old Jesuit Novitiate, Sacred Heart, as well as Testarossa Vineyards tasting room (formerly the Novitiate Winery).
A sub-tropical climate makes it easy to enjoy events year-round. While palm trees are not native to northern California, they do thrive here! Our annual rainfall is only about 20 a year. If we get cold temperatures, its because the wind happens to be blowing south from Alaska. On those rare cold snaps, it might even snow – to everyones delight since it only happens about once in every decade, and at most will stick to the ground for an hour or two! Los Gatos does have its micro-climates. The pass through which highway 17 runs to Santa Cruz is a low spot that allows the cooler coastal weather to come through can make downtown a little colder, windier and wetter than parts of town to the south of Blossom Hill or toward the Saratoga limit. In summer this can make downtown more comfortable and in winter it can make the outlying areas more so.
Homebuyers sometimes call or email me, explaining, ˜I want to buy a home so that my child can go to Williams Elementary in Almaden Valley or ˜I want to buy a house and have my kids attend Alta Vista Elementary School in Los Gatos or ˜If I purchase a condo in downtown Saratoga, my son or daughter will be able to attend Saratoga Elementary School.
But its not guaranteed. Schools tend to drive real estate values here in highly educated Silicon Valley. But we dont have as much control of this slippery issue as most might think.
It is a big mistake to believe that if you purchase a home in a certain location, you’ll be guaranteed that certain school. Lots can happen.