You may be aware that 80% of home buyers search the internet first to find their next home and that top real estate brokerages such as Alain Pinel are shifting their media advertising from print to online marketing functionality.

However, you may not be aware that you can get good community information (sign up to receive emails of local real estate market data).  You can sign up to be notified by email of open houses in the San Francisco bay area that match your criteria from our website: Open.APR.com.

This great resource for Alain Pinel listings includes APR exclusives (not on the MLS) as well as listed properties.  There is even a function that takes you to luxury open houses.  Check it out.

Rick Bonetti | Alain Pinel Realtors | 408-857-8800

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• Alain Pinel Agent Attends Prestigious Negotiation Program
• Does The Real Estate Brokerage Brand Really Matter To The Consumer?
• Introducing The New APR Open House App

The recession may not be over, but there are definitely more buyers out there in the west valley communities of Saratoga, Monte Sereno and Los Gatos.  Inventory is also very low, so it is a good time to be a home seller.

Rick Bonetti | Alain Pinel Realtors | 408-857-8800

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Rick Bonetti | Alain Pinel Realtors | Saratoga, CA | 408-857-8800

Saratoga, CA Vice Mayor, Jill Hunter and Brian Berg are two spark-plugs behind the Saratoga Village Development Council, which met Tuesday evening at the Rose International Market on Big Basin Way in Saratoga, CA 95070.

In addition to discussing planned events in March and April, the group saw plans for a $1.2 million Saratoga Village Pedestrian Enhancement project, scheduled to start construction in June and be complete by November 2010.  Old world stamped concrete will be added to pedestrian crossings at intersections of Big Basin Way (Highway 9) with 3rd and 4th streets; medians and even median trees will be added in a few places near 4th street. Eight parking spaces will be sacrificed as side walk planters are “bulged out”.  There will be a new entry sign, hanging flower baskets and a kiosk at Blaney Plaza. The project will improve pedestrian safety as well as providing attractive decorative embellishments.

A vibrant downtown village improves real estate and home values in Saratoga.  Support your local merchants.

For more information on Saratoga Village, check out the Saratoga-Live website or their blog.

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I’m a Saratoga Native – let me help you buy or sell a home in Silicon Valley.

Related article:

• Location, Location, Location in Saratoga, CA

Rick Bonetti | Alain Pinel Realtors | Saratoga, CA | 408-857-8800 | DRE #01237009

Inventory of homes for sale in Saratoga, CA 95070 is climbing, but is still a low 86 detached and 11 attached homes.  Last week 21 detached homes were added to the inventory including 3 homes where unfortunately the transaction fell through (TFT).  Four attached homes were added to the market of available homes for sale in Saratoga.

There were 6 new pending detached sales in Saratoga (including one high priced home on Cuvilly that went into contract last year) and 1 attached home.

Only one detached home on Kosich Ct. closed escrow at $1,160,000.

Go to my website www.RickBonetti.com for detailed information.

Rick Bonetti | Alain Pinel Realtors | 408-857-8800 | DRE # 01237009

In the early 1990′s Alain Pinel Realtors was a pioneer in implementing new internet applications for local real estate and they have just introduced their latest ” killer” application: www.Open.APR.com    This website now gets a feed from the MLS database that shows open houses with maps, a street view and a route plotting via Google Maps.  You can even include all available homes for sale on a map search (not just open houses) an plot a route to drive by.

Try it out.  Don’t miss the real time market report.

Rick Bonetti | Alain Pinel Realtors | 408-857-8800 | DRE #01237009

As we have been discussing all along, rates are going up and most likely soon so it would be in homebuyers best interest to get their deals done sooner than later.

PMA/Wells Fargo is currently running a purchase rate special on all fixed rate conforming and high balance conforming fixed rate loans which should greatly benefit homebuyers.

Rick Bonetti | Alain Pinel Realtors | 408-857-8800 | DRE # 01237009

Last week I reported the avalanche of positive market response to a Saratoga listing Moe Baniani and I have on Wolcot Way and how the Cupertino market is hot.  Today,  in an email to our Alain Pinel office, Alexis Lake, a new agent, gives more evidence as she reports her experience selling her personal home in Saratoga this past week vs. last fall:

“We just sold our house on Obrad in Saratoga with multiple offers to a highly qualified buyer who I’m very confident will perform. We had our Obrad house on the market 4 months ago for a short while and then withdrew it. The market certainly has shifted since September and a compelling statistic that supports this shift is the click thrus on the tour factory virtual tour.”

“In September, it felt like buyers were on Quaaludes, moving very slowly, with absolutely no sense of urgency. Worse, when they finally got in contract, I saw several transactions end up TFTing. (Slow and nervous)”

“Now, it is like buyers are on speed, have all their ducks in a row and are not only motivated and ready, but very likely to perform. (Fast and furious)”

“Take a look at these # of views from Tour Factory for the first 5 days on the market for 12320 Obrad Drive:

NOW                             THEN
1/25/10   1734     9/15/09     27
1/26/10  1,720    9/16/09    673
1/27/10     973     9/17/09    492
1/28/10     837     9/18/09    549
1/29/10     373     9/19/09    517
TOTAL    5,657                      2,258

“250% more views this time around – with the skew of the views towards the listing date vs. a somewhat even distribution of views in September.  Not sure how long this window of opportunity will last, but it sure looks like a good time to sell.”

Here is additional information from Alain Pinel agents Mark Wong and Carol Li:

Palo Alto

• “12 offers received Thursday on 3499 Greer Road. 4beds/2baths, 1,659sf, 8,591sf lot, original condition, Eichler house, listed at $969,000, sold over $1M.”
• Approx. 14 offers received Thursday on 842 Sycamore with 3beds/2baths,1363sf, listed at $949,000. Offers had no contingencies, as is, some with all cash offers.

Cupertino

• 1145 Hunterston Place with 3 bd 2ba, 1,190 sq ft in 6,400 sq ft lot listed at $918,000. With one open house attracted 17 offers and sold for $985,000. The buyers came in with NO contingencies and in AS-IS condition. Several were ALL CASH buyers.

“For the last 28 months, no property in Cupertino was sold over 2.6 million. Yes, there were quite a number of properties listed more than that and ended up with no sale and off the market. Suddenly there were 2 sales over 3 million in the last month. My take is that there are buyers (all cash) out there really see this once-a-lifetime opportunity to buy.”

“The climate in the high-end market, at least in Cupertino, is moving from a dormant to the active territory.The market has already hit the bottom, buyers are out trying to catch the last train. US dollar is still very weak. Oversea investors love bottom fishing and consider real estate in the United States very ‘cheap’.”

West San Jose

• “1212 Lynbrook Way was on the market for 6 days and attracted 21 offers. It is a 3/2 ranch house with 1,599 sq ft of living space. It was listed for $968,000 and sold with NO contingencies in AS-IS condition, about $100,000 over the listing price.”

“West San Jose 95129 with top Cupertino schools used to be the second choice for home buyers versus real Cupertino address 95014 with Monta Vista High. Not anymore…”

Foster City

• “Approx. 4+ offers received yesterday on 1121 Catamaran listed at $888,000,  4/2, 1900sf. It was on the market for about a week only.

East Palo Alto

• “5+ offers received on 128 Abelia way listed at $232,000. Those properties were sold at over $600K two years ago. Buyers are the investors and first time buyers.”

For more up to date reports from the “home front” subscribe to SaratogaVoice blog or call me to find out how these trends apply to your individual situation.

Rick Bonetti | Alain Pinel Realtors | 408-857-8800 | DRE # 01237009

Last week there was very light trading in the bond markets and mortgage rates didn’t move much although we did see a little improvement last Friday.

Current rates for 30 year fixed rate, fully amortized mortgage loans according to John Shapiro of Private Mortgage Advisors are as follows:

Conforming loans ($417K and under):  5.125%
High Balance conforming  ($417K to $729,750): 5.25%
Non-conforming jumbo loans (greater than $729,750):  5.70%

Interest rates are now quite low and home prices in many west valley neighborhoods such as Saratoga, Los Gatos and Monte Sereno are expected to be relatively flat in the near future, so I believe now is a good time to be either a homebuyer and home seller.

Rick Bonetti | APR Referral Network | 408-857-8800 | DRE #01237009