Palo Alto Market Update, Jan 30: Single Family Homes

Here's today's snapshot of the Palo Alto single family home market:

81 active listings

17 pending sales

5 sold listings in past week.

What does this mean? Well, there's been a big change since the last update on Jan 18th. There are 16 more active listings than 11 days ago, but only 1 more pending sale. In the 2 million dollar price range, there are 29 active listings and 2 pending sales. In the under 2 million dollar range the numbers are much higher, at 52 active listings and 15 pending sales. The ratio of pending to active sales overall has increased from 1 to 4 to almost 1 to 5. The ratio of active to pending over 2 million is almost 1 to 15, while in the under 2 million market it's almost 1 to 4. So, things don't look bright, except for the fact that a lot of homes came onto the market for last Friday's tour, and very few for this week's tour. Last Friday there were 78 listings and tonight there are 81. This is probably a Super Bowl weekend phenomenon.

Tomorrow I will give the details on the homes that sold since the last update and who seems to be putting their homes on the market in today's climate. I will try to get as much info as possible on new construction, financial hardship, or selling by heirs to attempt to get a feel for what's happening.

If you are interested in finding the final selling price of any home, anywhere, you can do it on my website. Click here to get to my site. Once there, flick on Cyberhome Home Valuation. You can then type in any address to get the county records.

If you need anything else, please contact me. I am always here to help you.

Marcy Moyer, Intero Real Estate

marcy@marcymoyer.com

650-619-9285

Mountain View Market Update, Jan 25th: Condos

Here's your daily snapshot of Mountain View's condo market:

62 active listings

28 pending sales

2 closed sales in last week

What does this mean? Well, there's been another big jump this week in pending sales. Last week there were 61 active sales, and 19 pending sales. The active sales only increased by 1, but the pending sales went up by 9. Not only that, but we're very close to the 1-2 ratio of active to pending sales that I think will stop the bleeding of home sale price decreases. If this continues, it may portend an increase in sales, at least in the lower end. However, this is only 2 weeks, so it's still too early to detect a trend.

If you're interested in finding the final selling price of any home, anywhere, you can do it on my website. Click here to get to my site. Once there click on Cyberhome Home Valuation. You can then type in any address to get the county records.

If you have any other needs, please contact me. I am here to help!

Marcy Moyer, Intero Real Estate

marcy@marcymoyer.com

650-619-9285

Mountain View Market Update, Jan 25th: Single Family Homes

As of today, here's the snapshot of the Mountain View single family home market:

65 active listings

12 pending listings

2 closed sales in the last week

What does this mean? There hasn't been much change since last week. Active listings are up by 3 and pending sales are the same. The ratio of pending to active is still not very healthy with over a 1-4 number, but the sky isn't falling either. 

If you're interested in finding the final selling price of any home, anywhere, you can do it on my website. Click here to get to my site, and once there click on Cyberhome Home Valuation. You can then type in any address and get the county records.

If you need anything else, please contact me. I am here to help!

Marcy Moyer Intero Real Estate

marcy@marcymoyer.com

650-619-9285

Red Mango: Another Reason to Love Palo Alto

My favorite latest addition to University Avenue's line-up of great restaurants, coffee shops, and boutiques, is perfect any time of day or night. I consider it meal replacement, necessary dessert, fuel, and pure tastebud joy. If you haven't made a pit stop at Palo Alto's Red Mango, you should. The line stretches out the door nightly for a reason--the frozen yogurt and fresh fruit toppings dished out at Red Mango are a thousand times more delicious than rival Pinkberry's similar froyo (that's frozen yogurt for all you non-yogurt addicts), and to top things off, Red Mango's totally guiltless.

Palo Alto doesn't have a Pinkberry of course, but most people are aware of last year's debacle. There was a big fuss when the news came out that Pinkberry (nicknamed Crackberry by fanatics in LA) wasn't half as healthy as advertisements claimed--apparently, the frozen yogurt is weirdly addictive because it kind of IS a drug--they pour gallons of sugar into the stuff, and a ton of unnatural chemicals to make it all so much worse. Not to knock Pinkberry too hard--it still tastes pretty darn good, no matter what's in it. And fresh fruit is always fresh fruit. But you can rest assured that Red Mango isn't hiding any dirty secrets in their yogurt tanks-- 

Here's the official statement, taken straight from the website:

Red Mango frozen yogurt is authentic yogurt, frozen to perfection. Made only with 100% all-natural ingredients, Red Mango is irresistibly delicious and undeniably nutritious. Pure, creamy, and refreshingly tangy, Red Mango frozen yogurt has all of yogurt's natural goodness, such as calcium, protein, and live and active cultures that are good for your body. Red Mango frozen yogurt is also fat-free, gluten-free, and certified Kosher.

I have a gluten allergy, so it's a real blessing that a Red Mango popped up in the area--it's hard to miss gluten heavy desserts when the substitute is so delicious. The Palo Alto Red Mango is a small space, with bright lights and a clean, trendy vibe (and is allegedly owned, at least in part by Yul Kwon, the Bay Area winner of Survivor Cook Islands). There are a lot of neon colored chairs facing the windows (and they are almost always taken) and a few tables along the walls. Red Mango frozen yogurt comes in two flavors: original and green tea. I hear they are testing out a new pomegranate flavor as well, although I haven't tasted that one yet. You can choose from tons of toppings--fresh fruit like peaches, raspberries, blueberries, kiwi, mango (of course!), banana, blackberries, and so on, as well as loads of cereals and more traditional ice cream toppings like chocolate chips. An original flavored small size with no toppings is 4oz, 90 calories, and only $2.95.

Here's a link to Red Mango-Palo Alto's fan page on facebook. The page includes event updates, store hours, and promotion details. 

You really can't get much better than that.

Happy eating! 

Sunnyvale Market Update, Jan 21: Single Family Homes

Here is today's snapshot of the Sunnyvale single family home market:

129 active listings

54 pending listings

7 sold homes in last week

What does this mean? There isn't much change from last week, when there were 124 active listings and 54 pending listings. The sold number is the same. There is tremendous activity in the lower end market. For homes under $500,000, there are 44 active listings and 34 pending sales. That's a .75 to 1 ratio of pending to active listings. That's an incredible number, and it says to me that we really have hit bottom for that segment of the market. The overall ratio is 2.5 to 1, which in itself is very healthy. However, for homes over $800,000 there are 48 active listings and 6 pending sales. This ratio of 1 to 8 pending to active isn't too healthy at all, and my guess is we will continue to see some softening. 

If you're interested in finding the final selling price of any home, anywhere, you can do it on my website. Click here to get to my site. Once there, click on Cyberhome Home Valuation. You can then type in any address to get the county records.

If you need anything else please contact me. I am here to help you!

Marcy Moyer Intero Real Estate

marcy@marcymoyer.com

650-619-9285

Sunnyvale Market Update, Jan 21: Condos

Here is today's market update for condos/townhomes in Sunnyvale:

88 active listings

25 pending sales

2 sales in last week

What does this mean? The inventory of active sales is up from 73 last week, with pending sales also up a little--they were at 23 last week. Solds are down slightly, from 4 last week. The ratio of pending to active sales is still between 3-4 to 1, so the change isn't huge. That ratio needs to get a little closer to stabilize prices, but we'll have to see how things go. 16 of the pending sales are for condos less than $500,000, so it is quite obvious that the lower end of the market is doing better than the upper end. 

If you are interested in finding the final selling price of any home, anywhere, you can do it on my website. Click here to go to my site. Once there click on Cyberhome Home Valuation. You can then type in any address next to the search icon to get the county records.

If you need anything else, please, contact me. I am here to help you.

Marcy Moyer Intero Real Estate

marcy@marcymoyer.com

650-619-9285

Palo Alto Market Update, Jan 19th: Single Family Homes

Here's today's snapshot of the Palo Alto market:

65 active listings

16 pending sales

1 sold in last week

What does this mean? Not much change from last week. The inventory is still pretty low. All of the pending sales are under 2 million. The ratio of active to pending sales overall is about 1 to 4, but then ratio of active to pending under 2 million is less than 1 to 2. There are 43 active listings under 2 million. I maintain my prediction from last week that the under 2 million market is fairly healthy right now, and I don't see any drops in prices. The over 2 million market is stagnant. Those homes may be sold at large discounts if the sellers are motivated. What we don't know is how many of these sellers are motivated and how many are willing to wait, or will just snatch those homes off the market.

If you are interested in finding the final selling price of any home, anywhere, you can do it on my website. Click here to go to my site. Once there, click on Cyberhome Home Valuation. you can then type in any address to get the county records.

If you have any questions please, contact me. I'm always here to help!

Marcy Moyer Intero Real Estate

marcy@marcymoyer.com

650-619-9285

Mountain View Market Update, Jan 17th: Condos and Town Houses

Here's today's snapshot of the condo market in Mountain View--

61 active listings

19 pending sales

2 closed sales in last week

What does this mean? First of all, there's been a huge jump this week in pending sales. Last week there were 58 active sales, and 9 pending sales. The active sales only increased by 3, but pending sales skyrocketed up by 10. Not only that, but we're very close to the 1-3 ratio of active to pending sales that I think will stop the bleeding of home sale price decreases. However, this is only one week--so it's still to early to decide if this is the start of a trend.

If you are interested in finding the final selling price of any home, anywhere, you can do it on my website. Click here to get to the site. Once there, type in Cyberhome Home Valuation. You can then type in any address to get the county records. 

Please contact me if you have any questions whatsoever. I am always here to help.

Marcy Moyer Intero Real Estate

marcy@marcymoyer.com

650-619-9285

Mountain View Market Update, Jan 17th: Single Family Homes

Today's snapshot of the Mountain View single family home market:

61 active listings

12 pending sales

1 closed sale in last week

What does this mean? Not much has changed since last week. Active listings are down by 2, and pending sales are up 2.  There's really not enough for me to say that the market is turning around, but at least this week it isn't getting worse.

If you are interested in finding the final selling price of any home, anywhere, you can do it on my website. Click here to get to my site. Once there, click on Cyberhome Home Valuation. You can then type in any address and get the county records. 

If you need anything else please feel free to contact me. I am here to help you! 

Palo Alto is the Best City for Dogs

As if it isn't obvious from my previous posts (especially the last one!), let me reiterate--I love dogs. Love them. One of my favorite things to do is take my labradoodle Demi out for a run or to the docks at Redwood Shores. Demi is at her happiest here, chasing balls into the water for hours. Palo Alto is very dog compatible, with a number of quality dog runs and dog approved local businesses. It sometimes seems like most members of the community are dog owners, and I've made some surprising friends while watching Demi play in local off-leash parks. As most pet owners know, owning a dog is a great ice-breaker.

This isn't just personal opinion--according to the Dog Blog, San Francisco and the surrounding Bay Area is one of the country's top cities for dogs. But if you're looking for the perfect place for you and your dog, don't overlook neighboring areas like Palo Alto, which feature dog-friendly amenities just as good as San Francisco's. In fact, two years ago our very own Palo Alto was the runner-up for the title of most dog friendly city in the USA. The rankings are determined by a number of criteria, including the percentage of of households that own dogs, number of dog parks, number of pet supply stores per capita, number of animal shelters per capita, number of dog boarding or daycare facilities per capita, number of heartworm cases--lowest incidence scores the highest (I love that this is taken into consideration--it's not just where dogs are happiest, but where dogs are healthiest), and the tie-breaker is the severity of local laws prohibiting animal cruelty and abuse.

There's no doubt about it: people in Palo Alto love their dogs. There are a few places that are absolutely indispensable for dog-owners considering the area. If you and your pet are surveying real estate in Palo Alto, you'll want to get familiar with these places quickly--

1. Pet Health: Palo Alto Pet Hospital

Located on El Camino next to the Palo Alto Medical Foundation, this is THE place to go for your pet's health needs. There's comfortable (heated!) boarding for your pets if they require an overnight stay and plenty of roomy areas so they aren't cooped up all day. Most medical services are performed at this facility, including surgery. They also provide excellent referrals. 

2. Home Away From Home: PetsHotel by PetSmart

An overnight or daycare facility for those days when you and your dog must be separated. There's tons of options as far as the comfort level you'd like your dog to have--in this way it's like a real hotel, offering a kind of sliding scale from standard accommodations to deluxe. PetsHotel is located in nearby Mountain View (very close to Palo Alto and almost as dog friendly), and they will also provide grooming services. Maybe your dog will make some friends!  

3. You and Your Dog: Dog Friendly Hotels and Restaurants

There are a number of dog-friendly businesses in Palo Alto. If you're strolling down University Avenue or through Stanford Shopping Center, it's very likely you won't have any trouble at all taking your well-behaved, and LEASHED dog inside the stores with you to browse. There's even a large number of dog-only boutiques (like one in Stanford Shopping Center), where your dog can check out speciality items ranging from full-fledged outfits to giant organic bones. Here's a short list of place I'm sure will welcome you and your dog. Hotels: Four Seasons, Crowne Plaza, The Westin, Sheraton, and Motel 6.  Restaurants and Shopping: Restoration Hardware, Whole Foods, Nordstrom, Hear Music, Neiman Marcus, Books Inc, Giants Dugout, Bloomingdales, Postel Annex, The Sharper Image, Baja Fresh Mexican Grill, Golden Wok, Izzy's Brooklyn Bagels, Taxi's, Spalti Restaurant.

4. DOGS ONLY: Dog Runs, Dog Parks, Dog Docks

The Palo Alto Baylands Preserve, on San Antonio Road, is five mostly unpaved miles of loop trail, where leashed dogs are allowed to run to their heart's content. This is an excellent spot for bird-watching, as well as a great place for your dog to play.

Stanford University is another great place for you and your dog--Demi and I frequent Stanford's miles of paths and tree-lined walkways. At the end of Palm Drive there's a popular little hang-out spot where locals bring their dogs on nice days.

Hoover Park is a lovely little off-leash dog park on Cowper St. It's a great place to let your dog loose and get some exercise. Greer Park, on Amarillo Avenue, is a fenced off leash exercise park. Mitchell Park, located at 3800 Middlefield, is another wonderful spot. 

Although it's not technically Palo Alto, there's another dog park I especially love located in nearby Mountain View (the same town as the PetsHotel). Shoreline Dog Park has two areas, one for big dogs and one for small dogs, and shaded picnic tables for people too. Outside of each area you'll find purel hand sanitizer, paper towels, and poop bags. Water fountains for dogs and people, and close walking distance to downtown. This place is always crowded, so you and your dog will definitely leave with some new friends. The owners who take their dogs here are respectful, and if you go in the morning you'll see rake marks in the sandy dog areas--they're cleaned nightly. 

There really are so many reasons your dog will love Palo Alto. The city has a lovely natural setting, and the community definitely treasures its open spaces. It's actually classified as an urban forest, and with 34 city parks and almost 4,000 acres of wildlife preserves, Palo Alto stays true to that description. Your dog will thrive in the healthy atmosphere. If you have any questions about more dog friendly Palo Alto areas or similar amenities in areas like Sunnyvale, Menlo Park, and Mountain View, please feel free to ask. Demi and I know these places inside out! 

The Obama's Top Dog Picks: Labradoodle or Portuguese Water Dog

My dog, Demi, a black labradoodle. Isn't she cute?!

All the news casts this morning were abuzz with updates on the Obama's ongoing search for the perfect puppy--apparently, the family has narrowed their search down to two breeds. They're considering either a Labradoodle, or a Portuguese Water Dog. Both of these dogs are hypoallergenic, which is obviously very important to this family. Also, President Elect Obama has been quoted as saying he wants a real dog, as a opposed to a little wimpy one, and both of these breeds feature dogs big enough to satisfy the future President. Labradoodles range in size from 14 inches to much, much bigger, depending on the line. Portuguese Water Dogs usually weight between 40 and 60 pounds. Ted Kennedy has Portuguese Water Dogs.

The reason this topic interests me particularly is because I have a small (16 inches!) black labradoodle, who is often mistaken for a Portuguese Water Dog, and I want to go on record as having my dog for almost 2 years now. Despite my great admiration for the Obama family, I am not copying them. I did this before they did. I expect a huge surge in the popularity of either of these breeds once one is picked, and I don't want people to think I am a copy cat! 

Also, I love my dog, Demi, and could spend all my time writing about her instead of real estate, but then who would that help? So, I will continue to keep all of you updated on real estate in the Silicon Valley, including Palo Alto, Menlo Park, Mountain View, and Sunnyvale, among other cities, and only occasionally bore you with my dog stories! 

Palo Alto Market Update, Jan 11th: Single Family Homes

As of this afternoon here is the snap shot of the Palo Alto Market: 

62 Active Listings                                                                                                                                           15 Pending Sales                                                                                                                                               6 Closed Sales in the Last Week

Closed Sales:

4212 Suzanne Dr.: Listed for $1,089,000 and sold for $1,151,000

2351 Santa Catalina St.: Listed for $1,695,000 and sold for $1,675,000

Interesting observation on the pending sales:

1 pending sale is at $3,995,000, 3 pending sales are hovering at the 2 million mark, and 14 pending sales are under $1,588,000. These are all list prices. The higher end market, (ie. over  2 million) is not healthy right now. The number of active listings over 2 million is 21, with one pending sale. THIS IS A VERY BAD RATIO.

 There are 41 listings under 2 million and only 14 pending sales, which is a 1 to 3 ratio, more or less. Not terrible, but not great. At this ratio I would expect either a leveling of sales prices, or maybe a small decline. If you drop the price range down to 1.3 and lower,  there are 19 active listings and 6 pending sales, exactly the same ratio as for 2 million and under.

So my preliminary prediction is that the market over 2 million will decrease, and the lower end is not going to get hit as badly. It may even hold its own. I reserve the right to change that prediction every week, but I would love to hear your thoughts regarding what these numbers indicate for the future of the Palo Alto market. 

If you are interested in finding the final selling price of any home, anywhere, you can do it on my web site. Go to www.marcymoyer.com and click on Cyberhome Home Valuation. You can then type in any address and get the county records.

If you need anything else please feel free to contact me. I am here to help you.

Marcy Moyer Intero Real Estate

marcy@marcymoyer.com

650-619-9285

www.marcymoyer.com

 

Sunnyvale Market Update, Condos: Jan 11th

As of this evening, here is the snapshot look at Sunnyvale's condo/townhome market--

73 active sales

23 pending sales

4 closed sales Jan 2nd 

What does this mean? The inventory is only by 3 since my last report. The active to pending ratios still hold between 3-4. It's still too early to make any predictions on what will happen in the next few months, but here's some clues on what to watch for: if the active listings go above 100 and/or the active/pending ratio gets worse, we will see more declines. If the active to pending ratio gets to 1-3 we will see prices stabilize. If it goes 1-2, we'll see appreciation. 

If you are interested in finding the final selling price of any home, anywhere, you can do it on my website. Go to my website and click on Cyberhome Home Valuation. You can then type in any address and get the county records.

If you need anything else, please, contact me!

Sunnyvale Market Update, Single Family Homes: Jan 10

As of this evening, here is a snapshot of the Sunnyvale single family home market inventory:

124 active listings

58 pending sales

7 closed sales in last week

What does this mean? We are probably at the bottom of inventory for a while. The number of homes for sale should increase over the next few months, whether the market is good or bad. Things to watch for: is the inventory of homes over 150 listings? How are the pending sales going? Even if the active sales stay under 120, if the pending sales don't go up to at least 2 for every pending listing we will see some more price decreases. If we can get up to 2 to 1 we won't see much change in prices. If we go better than 2 to 1 we will see appreciation. I personally think we'll see better numbers of sales in the lower price range, as jumbo mortgages remain very expensive. We'll have to see how things shake out over the next few months.

If you are interested in finding the final selling price of any home, anywhere, you can do it on my website. Click here to get to my site, and then click on Cyberhome Home Valuation. You can then type in any address to get the county records.

If you need anything else, I am here to help! 

Marcy Moyer 

marcy@marcymoyer.com

650 619 9285

www.marcymoyer.com

Mountain View Market Update, Jan 9th: Single Family Homes

As of this evening this is a snapshot of the Mountain View single family home market:

63 active listings

10 pending sales 

2 closed sales in the last week

What does this mean? We are probably at the bottom of inventory for a while. The number of homes for sale should increase over the next few months, whether the market is good or bad. Things to watch: is the inventory of homes over 80 active listings? How are the pending sales going? Even if the active sales stay under 70, if the pending sales do not go up to at least 3 active for every pending listing we will see some more price decreases. If we can get up to 3 to 1 we won't see much change in prices. If we go better than 3 to 1 we will see appreciation. 

If you are interested in finding the final selling price of any home, anywhere, you can do it on my website. Click here to go to my website. Once there, click on Cyberhome Home Valuation. You can then type in any address and get the county records.

If you need anything else please, feel free to contact me. I am here to help you!

Mountain View Market Update, Jan 10th

As of this morning, this is the snapshot of the Mountain View real estate market--

Single Family Homes:

Active Listings: 57

Pending Sales: 9

Sold Last Week: 1

Condos/ Town Homes:

Active Listings: 57

Pending Sales: 12

Sold Last Week: 4

So what does this mean? Not too much. There wouldn't normally be too many closed sales at the end of the year because of the holidays. The condo market and the single family home market have a similar ratio of pending to active listings, although it is a little better for single family homes. The result may be a little off, however, because there are more new condo/town homes on the market than single family homes, so these numbers are not an exact picture--not every new home in a development is on MLS. The inventory of both classes is shrinking, but that is to be expected as most sellers don't put their homes on the market at this time of year, preferring to wait until after the New Year. I will have a better idea of where the market is going a few weeks into January. If the inventory goes up a lot faster than the pending sales, we will see price declines. If the inventory stays the same and the pending sale rate stays the same, we should have some stability in prices. If the inventory goes down and pending sales stay the same or increase, we could see some appreciation. I will let you know when I think there is a real trend I can put my finger on. 

If you are interested in finding the final selling price of any home, anywhere, you can do it on my website. Click here to go to my website. Once there, click on Cyberhome Home Valuation. You can then type in any address and get the county records. 

If you need anything else, please contact me! I'm always here to help you. 

Marcy Moyer Intero Real Estate

650-619-9285

Market Updates: What they are and why they help you

On a weekly basis, I intend to provide readers of this blog with an insider's look at specific markets in the Bay Area. I focus these snapshot market updates on Palo Alto, Mountain View, and Sunnyvale. These are the towns I've had the most experience with, and the places where I currently work. My predictions can give you the insight you need to track the market or make an informed decision about what you're buying, where you're buying it, and when to finally pull out your wallet. 

I predict market movement based on the number of active listings in a given area, pending sales, and closed sales in the last week. By looking at these numbers in relationship to each other, as well as considering the selling prices and exact addresses of sold homes, I can usually come up with an accurate forecast for the short-term (and sometimes long-term) future of nearby housing prices. It's also a handy way to determine the length of time a house might sit on the market before being sold. 

The value of reading my market updates is at least twofold. First of all, they leave you armed with knowledge about your area (if you are a Palo Alto/Sunnyvale/Mountain View resident), which is always an invaluable asset. If you're a buyer considering a home in one of these areas, my market updates can keep you abreast of the market's trends and upcoming shifts (or plateaus). Finally, these market updates can help you make sense out of the real estate market around you. After reading enough, you'll be able to make your own predictions! 

If you have any questions pertaining to your market or real estate in general, I am always happy to answer anything. If you disagree with one of my market predictions, please, let me know! 

Palo Alto Market Update, Jan 6th: Condos

As of this evening, here is a snapshot of the Palo Alto condo/town home market--

Active Listings: 20

Pending Sales: 5

Sold in Last Week: 1

Sold Details:

2579 Park Blvd. X102: Listed for $639,950 and sold for $630,000

What does this mean? We are probably at the bottom of inventory for a while. The number of condos for sale should increase over the next few months, whether the market is good or bad. Things to watch for: is the inventory of condos over 35 active listings, and how are the pending sales going? Even if the active sales stay under 30, if the pending sales don't rise to at least 2 active for every pending listing we will see some more price decreases. If we can get up to 2 to 1 we won't see much change in the way of prices. If we go better than 2 to 1, we will see appreciation. 

If you are interested in finding the final selling price of any home, anywhere, you can do it on my website. Click here to go to my website. Once there, click on Cyberhome Home Valuation. You can then type in any address and get the county records. 

If you need anything else feel free to contact me-- I am always here to help! 

Palo Alto Market Update, Jan 5th: Single Family Homes

As of this morning, here is a snapshot of the real estate market in Palo Alto:

Single Family Homes:

Active Listings: 60

Pending Sales: 11

Sold in Last Week: 4

Sold Homes Included:

1. 1018 Los Robles: listed for $1,350,000 and sold for $1,390,000

2. 821 E Meadow: listed for $1,298,000 and sold for $1,350,000

3. 1151 Middlefield: listed for $1,495,000, reduced to $1,295,000, and sold for $1,600,000

4.  2774 Randers Ct: listed for $799,000, and sold for $800,000

What does this mean? We are probably at the bottom of inventory for a while. The number of homes for sale should increase over the next few months, whether the market is good or bad. Things to watch for: is the inventory of homes over 130 active listings, and how are the pending sales going? Even if the active sales stay under 100, if the pending sales do not go up to at least 2 active for every pending listing we will see some more price decreases. If we can get up to 2 to 1 we won't see much change in prices. If we go better than 2 to 1 we will see appreciation.

The fact that all four sold homes went for over asking price is interesting--I don't know if it's a fluke or not. They were all listed under 1.5 million, which is the lower end for Palo Alto. If this trend continues, I'll have more comments--but if not, then I guess it is just a fluke.

If you are interested in finding the selling price of any home, anywhere, you can do it on my website. Click Here to go to my website. Once there, click on Cyberhome Home Valuation. You can then type in any address and get the county records. 

I'm always here to help, so feel free to contact me with questions or comments. 

Save San Francisco's Magic Theatre

Saving the Magic Theatre isn't just about retaining one of San Francisco's most valuable historic landmarks and cultural institutions--it's about saving modern theater itself. For 42 years the Magic Theatre has stood for what's new, ground-breaking, and yes, magical, about the stage and its stories, about the possibility behind the curtain.

The theatre's impact isn't just on the Bay Area. It extends into the national theater community and beyond. The Magic has acted as a haven for playwrights that rose to the forefront of the artistic world: Sam Shepard, Nilo Cruz, and Paula Vogel are among the four Pulitzer prize winners whose voices came to life here. The Magic Theatre is one of the places that makes San Francisco a cultural destination rivaling cities like New York and Chicago.

Now, due to the economic turbulence wreaking havoc across the world, the Magic might be forced to cancel the rest of its current season and close its doors for good. In order to continue with their current season, stop a staff shutdown, and keep on the right side of creditors, the Magic needs to raise $350,000 by January 9th--this upcoming Friday. The Magic has always prized artistic risk over money-making, and their admirable, barrier-breaking history proves just how much that choice has influenced contemporary theater. Beyond all this, the Magic employs over 200 artists annually and changes the lives of countless audience members with every performance. If we allow the Magic to shut its doors, we're turning our back on the artists that make the Bay Area such a vibrant place. 

Financial losses have hammered the Magic, and this 43rd year might be the theatre's far too early end. The theatre has already enacted drastic budget cutbacks and begun a rigorous campaign to increase revenue despite the recession.  This season is the inaugural year with new artistic director Loretta Greco, and the first two shows under her leadership, The K of D: An Urban Legend and Evie's Waltz, won much critical praise. Loretta Greco and the rest of the staff have been working without pay since December 19th. 

The rest of the season promises to be equally stunning, featuring new works by some of the most talented and creative writers around. Without the Magic, it's hard to imagine work by luminaries like Theresa Rebeck (Mauritius, slated to run April 18-May 21) or Craig Wright (Mistakes were Made, May 23-June 21) finding a suitable space to run in the Bay Area. Especially since three major Bay Area theaters have either closed on or been on the brink of closing in the last month. Shakespeare Santa Cruz was in a similar plight back in December, but thanks to over $400,000 in pledges that theater will make it through another season. 

The season has four plays left, and without our help these plays might never see an audience in the Bay Area. In a recent San Francisco Chronicle article, Loretta Greco says, "This $350,000 appeal, the third prong, is more grassroots. We're sending it to our colleagues and friends here and around the country. We've raised about $170,000 so far, and no gift is too small. That's where we are. We've got to get back in rehearsal."

You can help. No donation is too small. To contribute to the Magic Theatre and help keep its doors open CLICK HERE. Help us save the Magic and everything it stands for!