Whose Fault Is It?
Yesterday at open house in Almaden I was asked by a gentleman about earthquakes which is actually an infrequent question. I commented to the man that the earthquake faults are disclosed in Natural Hazard Disclosure maps for all properties, but this seems to have little impact on Silicon Valley property…
Saratoga Luxury Market Heats Up
This past week there have been several new pending sales in the upper end of the Saratoga, CA real estate market, which suggest that savvy buyers are finding opportunity in the market and motivated sellers are coming together. Â In addition to the escrow closing this past week of 16150 Cuvilly…
One Nation, Invincible
Last evening my wife and I again watched the 1997 movie Titanic. Â Most see it as a romantic story of two attractive young people and an exciting tragedy/thriller – which it was; we thoroughly enjoyed it on that level. The movie can also be viewed as a metaphor for issues…
Read the Last Paragraph
Don’t just read the headlines of a news story - read the last paragraph first to get the real story. Headlines are written to grab your attention and sell newspapers. Today, the headline of the print version of the Mercury News shouts “Grimmer Economic Forecast For State;” The online version more dispassionately states “State’s Economy…
Plan B for Low Appraisals
The pendulum regarding real estate appraisals has swung to the opposite extreme compared with the lax attitude that was rampant a couple of years ago. First, it is important to understand that appraisals are just “quesstimates” and the process is not an “exact science”, even though the process is guided…
Stay-cation
A builder friend of mine, Paul Conrado sent out a direct mail advertisement asking “Why wait for a resort vacation when every day can be a relaxing get-a-way?” The clever mailer included a “Building Pass” in the form of a faux travel ticket inviting you to “transform your current residence into…
Saratoga Home Sales
There have been five closed sales in Saratoga in the past two weeks: 15670 Glen Una Drive, a 10,385+/-sf home on 2.75+/-ac, listed at just under $7 million, sold for an undisclosed amount after being listed for 337 days; 15139 Park Drive sold at $2.175 million; 19581 Scotland Drive sold…
Concierge Services
Today I met with Saratoga resident Vickie Epstein, who has been Program Director for Avenidas Village in Palo Alto since it was launched in October 2007. Her focus is to help people stay at home as they age by providing concierge and other services. Avenidas Village covers a broad geographic…
Green and Clean
 Russell Hancock, President and CEO of Joint Venture: Silicon Valley Network spoke this evening at Saratoga Men’s Club. Established in 1993, Joint Venture: Silicon Valley Network provides analysis and action on issues affecting our region’s economy and quality of life. The organization brings together established and emerging leaders –…
Saratoga, Los Gatos/MS and Almaden Markets Currently Imbalanced
Currently, Santa Clara County has 6,160 Detached homes on the market, 1,951 (31%) of which are Pending. Cambrian has 225 homes on the market, 81 (36% ) of which are Pending. Campbell with 202 homes on the market, 49 (24%) of which are Pending. Almaden has 141 homes on the…
FHA Financing is Hot Again
Because of the current credit crisis and the weak secondary market for non-conforming, jumbo loans, FHA has again become important financing in Silicon Valley. Here is a summary highlights for FHA Loans: Loan Amount:Â Up to $729,750 (Santa Clara/San Mateo Counties) Down Payment:Â 3.5% Credit Score:Â As low as 600…
Getting The Most Out of your Client Organizer
If you are one of my homebuyer clients, I have probably set up an automatic Home Search for you through my website www.RickBonetti.com. You will have also received an email from me with you username and password and a link to log on to your Client Organizer where you may…
Campbell, CA Resale Housing Market Update
Homes are selling in Campbell! In MLS Market Area 15 the past 15 days there have been 17 new pending sales and only 5 (29%) of them have been short sales or real estate owned by a bank. They range the full price spectrum of Campbell, but the largest segment…
Discovering What Matters
Yesterday I participated in a stimulating discussion with some outstanding Saratoga leaders and volunteers concerned about providing a strong economic foundation for the Saratoga Area Senior Coordinating Council (SASCC). They were looking at the success of Aveidas in Palo Alto and Senior Center Inc., of Charlottesville, VA. Part of our…
Homeowner Affordability and Stability Plan
President Obama recently unveiled the Homeowner Affordability and Stability Plan, which will offer assistance to as many as 9 million homeowners. The Plan only applies to primary residences, and loans in the Plan cannot exceed Freddie Mac/Fannie Mae conforming loan limits. The Plan has three components: 1. For owners who…
