I guess I got a little ahead of myself believing I could run from Rancho San Antonio in Cupertino up to the Monte Bello Open Space Preserve. Sixteen miles round trip, the distance alone is not that bad. However, add hot temperatures and steep climbs, it becomes ugly. I was fine for the first hour, but then the hills and the temperatures got to me.  Mark kept running, while I had to walk. I honestly don’t think I’ll ever be able to do the run up. Before I could even reach the top, Mark was on his way down and insisted that I turn around and go back. I was dehydrated, so was he, and it was getting hotter. This was the first run that I couldn’t complete. I began questioning whether or not I would be ready for the Big Sur marathon in September. I have a long way to go.

On Monday, Mark and I ran up Windy Hill, an eight mile run that has become easy, so easy that we questioned whether or not it was a good use of time.

Our times can be seen at http://ourruntimes.google.pages.com

A Palo Alto home listed at $15,500,000 took less than a month to sell and sold for near the asking price. The stunning Queen Anne style 7 bedroom, 4.5 bath home at 1055 Forest Avenue was originally built in 1896 for Stanford University English Professor Alphonso Newcomer. The home, situated on an over 3/4 acre lot, features a reception hall, a sun room, a music room, a pool and an exercise room/dance studio. The master bedroom includes its own library wing.

This is more proof that our local market is still HOT.

Rancho San Antonio Park was the place to be on Saturday afternoon. Mark saw an owl upon entering the parking lot. Then, within a 95 minute window, we saw a baby snake, multiple rabbits, a ton of birds and a total of 3 bobcats!  Mark saw the first two crossing a trail. Later, near the farm, there was another bobcat walking down the pedestrian path, totally ignoring all the people watching it. On Sunday we ran Windy Hill, but unfortunately we didn’t see any animals. 

Listed at just $449,950,  2458 W. Bayshore #10 is the best deal in Palo Alto.  It is a two bedroom, one bath, upstairs end-unit with new appliances (including a washer and dryer) and fresh paint and carpet. The monthly HOA fee is approximately $336. There is a covered parking space, extra storage and a community pool. I will be holding it open from 1:30 to 4:30 on Saturday! Come by and take a look.

On Monday, the Santa Clara County Assessors Office mailed 466,614 assessment notification cards. The card provides the property owner the opportunity to review the taxable value before it is formally enrolled on July 1. Should the taxpayer disagree with the assessed value, there is sufficient time to contact the Assessor for further review before the July 1 deadline.

“By encouraging property owners to contact us before the close of the assessment roll, we hope to substantially reduce the need for property owners to file a formal appeal with the Assessment Appeals Board.  Notifying property owners of their assessed value six months before their tax bill arrives in the fall is a significant benefit to taxpayers,” said County Assessor Larry Stone.

Click here to see the complete media release:

notification-card-release-2007.pdf

Spring  shopping season is here and with it comes evidence of an upswing in the market. March worked its magic- for all our regions! February-to-March sales activity rose by 15% at least, almost 40% at most. Rising median home prices, a sufficient amount of inventory on the market in many areas and still generous interest rates have created a favorable situation for those in the hunt for a new home. If the historically strong spring market has its way, we should be looking forward to bright and sunny summer months to come.

Statewide: the median resale price of a single-family detached home in California for March was $580,090, an increase of almost 4% over February and roughly 3% over March 2006. Unsold resale inventory represented an 8.7 month supply, compared to about 4.7 months for the same month a year ago. Median number of days on the market was 56, up from 44 a year earlier, but below 60 for the first time since October.

Bay Area: The California Association of Realtors’ March median price figure, $785,380, is improved by 5.5% from February and by 5.6% from March, 2006. The Santa Clara County median price has risen 5.1% in a month and 9.2% for the year, to a striking $830,000. March sales are up by nearly 35% for the month. Silicon Valley is currently riding on sales of relatively few and expensive properties.

In honor of Bike to Work Month, I have recovered my bike from my garage and have given it a much needed tune-up. Since then, it has become my vehicle of choice. With the warmer temperatures, higher gas prices, and on-going traffic and parking challenges, I am finding it more practical to bike rather than to drive. This month, Palo Alto realtors are being encouraged to ride their bikes instead of driving from house to house on Friday Broker’s Tours.  I am also a novice rider on the “Coast to Coast” team in the Second Annual Team Bike Challenge. Currently we’re in 13th place with 45 points! On Thursday, May 17th, there are events all over the Bay Area to celebrate “Bike to Work Day.”

http://www.bayareabikes.org/btwd/index.php?page=index.htm

A small one bedroom cottage in the Sunnyside neighborhood of San Francisco collapsed over the weekend, hitting a neighboring house. The owners of 149 Mangels bought the house last year and were in the process of doing foundation work. From what I’ve heard, the owners were trying to do most the work themselves.

The house was marketed last year as a major fixer-upper.  At $399,950, it was one of the most affordable homes listed in San Francisco. The couple paid $524,250.

The house will now be torn down. On the bright side, the couple still have their land, which is where the value is! 

I wonder if the young couple knew what they were getting into. Purchasing a house in it’s “as-is” condition does not mean you give up your right to have inspections. I advise all buyers to get all relevant inspections (regardless of age or appearance of the house, or if they’re buying it “as-is”) before removing contingencies.

Traditionally, in Palo Alto and the surrounding cities, sellers with order an inspection(s) upfront and furnish the report(s) to all potential buyers before they write up their offers. If buyers are not satisfied with the sellers’ reports, they should order their own inspections from licensed professionals.  The buyers’ inspections will be conducted during a contingency period, after a contract has been ratified.

We had a full house at last night’s fund-raiser at the Menlo Circus Club.  Our final count was at 372 guests, about 100 more attendees than we have ever had in the past! We raised over $400,000, a good portion of our $650,000 annual budget. Jack Gifford made a brief announcement at the dinner where he pointed out that financially, EPATT survives “year-to-year.” Without the support we get from our annual dinner, the program would not exist! 

Last night began with a tennis exhibition featuring Stanford players Paul Morrissey, a freshman from Ireland, and Whitney Deason, a junior from Texas. After tennis, everyone gathered in the Circus Club’s dining room for a spectacular dinner and program, which included a video and four unforgettable speeches.  Many thanks to all our generous supporters, many of whom have been donors since our first dinner 15 years ago!  Also, special thanks to all the first-timers who joined us last night. We hope to see you again next year.

There are hundreds of new homes coming to Palo Alto, Mountain View and Menlo Park.  

DR Horton’s Arbor Real development, set on 15.4 acres at the former Rickey’s Hyatt Hotel on El Camino Real, is bringing 181 new residences to Palo Alto, ranging from condominiums to single family homes. The single family homes are completed and sold out, but, as of today, there are still 36 townhomes and condominiums available. There will also be 34 Below Market Rate (BMR) residences for sale to provide a more affordable housing component.  Also, on East Meadow in South Palo Alto, “Vantage of Palo Alto” will offer over 70 new two and three bedroom townhomes, priced from the mid $800’s.  

In Mountain View, at 180 Evandale Avenue, Classic Communities’ single family detached homes went on sale in April. These are three bedroom homes that start in the high $600s. Closer to downtown Mountain View, there are 22 new two bedrooms condominiums being built, priced between $850,000 and $950,000.  There are also 106 townhomes being built at “Bedford Square,” a community closer to Highway 85, but still near downtown. These are priced between $660,000 and $780,000. Twenty-nine of these units have already sold. Another twenty new attached townhomes will make up “Granada Park,” priced in the $800s and $900s.

Summer Hill Homes will be building 32 new three and four bedroom homes in the Linfield Oaks neighborhood of Menlo Park. The 4.5 acre site is located at 75 Willow Road, near Sunset magazine. The homes are expected to be listed in the $1 million to $2 million range.  The same neighborhood is also getting 56 new homes at 110 and 175 Linfield Drive.