Los Altos Real Estate Trends

Posted on May 30, 2009 by  
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Los Altos has traditionally been a good long-term investment. In terms of trends, the beginning of the 2009 had little activity in home sales compared to the same time last year. The lack of meaningful activity was not attributable to the seasonal winter lull. It was a confluence of events which culminated in a state of shock. Essentially, the housing market was in a deep freeze. As winter morphed into spring, activity clearly increased. However, housing transactions for the first 5 months continue to lag behind 2008.
img_08951Currently, with increasing availability of credit, buyers have begun to seek out viable home options. It appears that a clear segment of Los Altos home shoppers are now actively engaged in the hunt for housing. Sellers, who have priced their properties for the current market, are attracting these buyers. In some cases, sellers are again seeing multiple offers. Just last week, one property received 12 offers.

While home prices have modestly drifted downwards, Los Altos continues to draw qualified buyers looking for a good buy in a great community. More importantly, Los Altos continues to hold its own compared to the significant price declines we have seen in other nearby cities. This strength can be directly tied to the value of our local schools, the quality of life of our residents, and the financial stability of the City itself.

Clearly, housing choices abound in Los Altos. As a buyer, you can select from a wide variety of available properties. As a renter, a diverse selection of apartments, condos, townhouses and single family homes become available, from time to time. At the end of the day, while there are a number of homes to buy, the local rental market remains tight. [Note: We’ll explore two new developments in a future post.]

Going forward, we anticipate Los Altos home prices will stabilize by September. This is a good thing, as pricing expectations achieve equilibrium. Separately, we see the Federal Government’s recent involvement in the capital markets and the manipulation of interest rates will have negative consequences by the end of 2010. Inflation is expected to return, interest rates will rise and mortgage costs will increase. If you are in a position to do so, we recommend locking in today’s historically low rates.

As I mentioned, Los Altos home has historically been a good long-term investment. As a community, this has also been a great place to raise a family. Now is the time to buy, or sell, in Los Altos. Let us help you successfully navigate the changing real estate landscape.

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Los Altos Farmer’s Market – Organic Goodness

Posted on May 18, 2009 by  
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The Los Altos Farmer’s Market returns to State Street with the finest just picked local fruits and vegetables. You can find this wonderful community event between Second & Fourth Streets in Downtown Los Altos every Thursday, May 7th to September 24th, from 4:00 to 8:00 pm.The Market is now being managed by Urban Village, so you’re getting mostly organic food directly from the farmer and that’s good for the earth and good for you and good for the farmer. Parking can be found in nearby parking lots, parallel to the farmers market, behind the stores.

Opening day for the Farmer’s Market was great. Returning this year were several fresh flower vendors providing the best cut and potted flowers and plants. There were many fruit and veggie vendors with terrific displays, and fresh meat and fish vendors were quickly selling their items. Most vendors had umbrellas or shade tents, which was a good thing as the weather was wonderfully warm long into the evening.

A band played to the dancing feet of toddlers and small children while others dined on delicious, fresh and made-from-scratch Mexican food. Several restaurants opened for indoor or outdoor dining along with those set up temporarily on the street. Two new restaurants were debuting and a new martial arts school was also in attendance.

There are more food options here than at the morning markets in nearby cities. More importantly, it’s a great place to pick up dinner. The Farmer’s Market has rotisserie chicken, corn on the cob, baked potatoes, and exotic cuisine among other delicious items. Additionally, a local restaurant can be found selling their goodies … make sure you get lots of napkins. Of course, if you need to pick up something not found at the Farmer’s Market, Safeway can be found at the end of the street.

At the end of the day, it was great to have all of the happy people, reconnect with friends, and enjoy a beautiful evening. Clearly, the Los Altos Farmer’s Market gets better each year. We recommend partaking in this wonderful tradition.

 

Note: This content includes edited yelp and urban village commentary.

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Two great events: Pet Parade & Fine Art Show

Posted on May 15, 2009 by  
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As we move into late spring/early summer, Los Altos has so many wonderful events to offer the community. This weekend, there are two great community events in Los Altos.

Pet Parade …

Los Altos Pet Parade  Los Altos Pet Parade  Los Altos Pet Parade

Los Altos Pet Parade  Los Altos Pet Parade  Los Altos Pet Parade

Since 1947, on the Saturday following Mother’s Day, the Los Altos Kiwanis Club Pet Parade begins on Main Street, promptly at 10 a.m. From simple beginnings, it has evolved into the city’s most renowned civic event – a spring celebration that attracts thousands of kids, along with their pets, wagons, bicycles, parents and neighbors. It includes youth groups, marching bands, fire engines, and antique police cars. There is no fee to participate.

 

Los Altos Rotary Club Fine Art Show …

Since 1976, on the Saturday after Mother’s Day, and continuing through Sunday, the Los Altos Rotary Club presents its annual fundraising event “Fine Art in the Park.” Open each day from 10 a.m.-5:30 p.m., and located in Lincoln Park just across Foothill Expressway from Main Street, it is considered one of the most prestigious art shows in California. This outdoor gallery features the fine art and quality craftwork of 200 juried artists from across the United States. The festivities include live musical entertainment plus a variety of food and beverage booths. Proceeds from the art show benefit local and international charitable projects.

Los Altos Art Show  Los Altos Art Show  Los Altos Art Show

Both of these events have become valued traditions in Los Altos. You are sure to have a great time at either event. We hope to see you there.

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