Mary Pope-Handy
Realtor
CRS, ABR, E-Pro, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805
Selling homes in
Silicon Valley:
San Jose, Los Gatos,
Saratoga, Campbell,
Almaden Valley,
Cambrian Park and
Santa Clara County
Each year, Inman News sponsors a “people’s choice” voting for the most influential person in real estate. Inman nominates 100 strong candidates but voters may also write in someone not listed. This week, I was very deeply honored to have been included on such a prestigious list of real estate leaders nationwide, and I’d be thrilled if you would consider voting for me.
Where to vote: follow this link and the fields for entering your desired winner’s name and info will be about 20% of the way down (midway through the article and just after a large ad) – deadline is Dec 1, 2011:
Some first time home buyers in the San Jose or Silicon Valley area get confused by the “assessed property value” of houses, condos, or townhouses: they mistakenly think that this number has some bearing on the real estate market value. It doesn’t. The assessed value is used only for determining the amount of property tax being paid.
Residential real estate in California is reassessed upon transfer of title, or change of ownership, in most cases (there are some exemptions). From there, the assessed value can only go up 2% per year at most (thanks to the passage of Proposition 13 in the 1970s). When property values decline, as they have recently, owners of properties with higher than market value assessments can appeal and get a temporary rollback in valuation for the purposes of having property taxes lowered. This is very very common (and even so, the assessed value is usually still off as it’s based loosely on the January values of that year – the values are often higher than market value for these petitioned properties). The tax assessor’s office has a lot of latitude in determining the assessed values; it is nothing at all like an appraisal, which should use strict comparisons.
Let’s look at a few hypothetical examples, taking tract housing with the same square footage, layout etc:
1 – If a couple purchased a Cambrian Park house in 1960 to 1970 and paid $20,000 for that property, but today’s value is approximately $500,000, the property tax being paid will reflect the long term ownership and won’t be based on the current market value. That couple might be paying $600 to $800 per year in property taxes with a corresponding “assessed value” of about $52,000. (more…)
You’re invited to see this stunning young urban living condominium in Campbell close to everything featuring two bedrooms plus loft, 2 bathrooms and approximately 1610 square feet. All of this can be found in an elegant resort-like setting! New listing, open this weekend from 2-4 (Aug 13-14) so please stop by!
Urban Living in Campbell
This sleek condo, the Sapphire Penthouse floorplan (see below), is located just steps from the light rail and Los Gatos Creek Trail, shopping at Whole Foods and many other shops across Bascom, the Pruneyard a block or so away and downtown Campbell just around the corner! A myriad of restaurants lie within a tenth of a mile. One of my sellers told me that she had only put 1500 miles on her car in the year living there. Imagine simply not needing your auto much at all!! (The building does include two spots in the underground garage for your vehicle, should you still want one while living there!)
Resort Living, Contemporary Setting
Built by Pinn Brothers with great attention to detail, the Onyx offers tremendous features both in the condo itself and in the many fabulous shared areas.
Interior features include:
open floor plan with high ceilings and dark floors
elegant kitchen with mostly Bosch appliances (fridge is Fisher & Paykel), tremendous counter space with slab quartz countertops, recessed lights and contemporary dark cabinetry
an abundance of natural light, loads of windows and recessed lighting
spacious bedrooms (the master is really large!) and bathrooms
Master bath features two sinks, large soaking tub and separate stall shower
Instead of writing about the news, today I am in the news, so contrary to my normal practice, I’m the focus of this post!
Today’s San Jose Mercury News has a pull out section, styled like a magazine, with its annual “best of” list – the “Best of Silicon Valley in 2011“. I was deeply honored to find myself listed as the “Best real estate agent in Silicon Valley” (if you have the print edition, it’s at the top of page 33). The online edition isn’t yet published.
The results of the list come from voting by consumers. I believe that my clients are the best on the planet (you may have noticed that on all of my sites and blogs, somewhere is the line “helping nice folks to buy and sell homes in Silicon Valley“) and their endorsement is usually apparent with their repeat business and referrals, but this is a wonderful acknowledgment that I deeply appreciate.
For those finding this who do not know me but who are searching for a good, knowledgeable, communicative and ethical Silicon Valley Realtor, I invite you to read about my background and see some comments by clients on my websites.
The scenic Strathmore neighborhood of Los Gatos lies close to the foothills, including both Blossom Hill and the coastal range rising behind it. Homes here enjoy that very beautiful backdrop and access to the park and trails, but many other benefits too.
It’s a pedestrian friendly area with sidewalks and tree lined streets, so it is not uncommon to see people out enjoying a stroll, a jog, a bike ride or otherwise taking in the peaceful region.
Additionally, Strathmore residents share a community pool (or cabana) with a neighborhood swim team. One of the biggest draws of all is that on top of these features, kids in Stratmore get to attend fabulous public schools too. The profile on this neighborhood is overwhelmingly positive!
Where is the Strathmore neighborhood?
Located in east Los Gatos, Strathmore is just off of both Blossom Hill Road and Union Avenue. The main road through the neighborhood is Anne Way.
It’s a quick trip, less than a mile, to the on ramps at Highway 85 (and less than that to the nearest grocery store, Safeway on Union Avenue). It’s about 2.5 miles to Vasona Lake County Park and just a little further to downtown Los Gatos. So this is a wonderfully convenient location.
In those nearby hills, Belgatos Park and the Hines Open Space Preserve offer trails just a few blocks away.
If you are looking for a new or newer home in Cambrian Park or Almaden Valley, look no furter! This exquisite house features an amazing kitchen at the heart of the home. It has been updated with slab granite, stainless steel dishwasher & fridge, gas range, a sunny garden window & recessed lights. It’s open to the breakfast nook and family room on one side and adjacent to the dining & living areas on the other.
You’ll love the open floorplan and the fact that there’s 1 bed and one bath downstairs. More wonderful plusses: inside laundry, AC, dual pane windows. Big master suite offers a walk in closet, soaking tub, separeate shower, big vanity and dual sinks.
Fabulous younger home in the Almaden Winery neighborhood!
Four bedrooms, three bathrooms (one bed/bath downstairs)
Living room features high ceilings, hardwood floors and elegant fireplace & is open to formal dining area
In Almaden Valley, like in other parts of San Jose and Silicon Valley, some parts of “the market” are hotter than others. The real estate sweet spot appears to be homes priced in either the entry level or move-up markets – but things cool considerably as the homes become more elegant, grand and luxurious. (This appears to be true across all of Santa Clara County: the most affordable homes are still the hottest segment of the realty market.)
Months of Inventory in Almaden Valley
Here’s how the current inventory and sales breaks down, together with the months of inventory, for the Almaden Valley part of San Jose (95120 zip code). Info from MLS Listings deemed accurate but not guaranteed. The “closed” column represents homes closed (houses & duet homes) in the last month.
Almaden Houses & Duet Homes
For Sale
Closed
Months of Inventory
$900,000 and under
33
21
1.57
$900,000 – $1,200,000
29
22
1.32
1,200,000- $1,500,000
20
2
10
1,500,000- $2,000,000
10
1
10
$2,000,000 and up
10
0
∞
As you can see, up to about $1,200,000 it’s a very strong seller’s market with less than 2 months of inventory. But beyond that price point, it’s suddenly a completely different market and is instead a very strong buyer’s market.
What about distressed property sales in Almaden?
There are almost no bank owned properties currently for sale or recently closed in Almaden – just 1 in the entry level price band which is currently listed for sale.
There are not many short sales in Almaden: right now just 5 for sale: 3 in the lowest of these five price groups, 1 in the 2nd lowest and one in the highest. Closings among short sales are also few in number: 2 in the lowest price point and one in the second lowest. The absorption rate or months of inventory among short sales was 1.5 in the lowest price point and 1 month in the second lowest. No closings among higher priced homes that were also short sales in the last month. (more…)
Each year, Inman News sponsors a “people’s choice” voting for the most influential person in real estate. Inman nominates 100 strong candidates but voters may also write in someone not listed. This week, I was very deeply honored to have been included on such a prestigious list of real estate leaders nationwide, and I’d be thrilled if you would consider voting for me.
