Sunday, January 6, 2008

Downtown Los Gatos Homes Caliente

Los Gatos - the cats in Spanish - hot - caliente... never mind. I'll come up with a better tag line next post.
The significant message here is this: homes are selling briskly in the Los Gatos market. We are tracking a couple homes that just sold quickly after coming on the market. One of which got a "preemptive offer". These are homes with everything you need and then some. Over 2,000 square feet, 3 and 4 bedrooms, good parking, great locations, nice lots, etc in the $1,800,000 and higher price ranges. This spike in activity is evident in the last week. As is the spike in real estate activity all across the west valley. The lower price ranges, in Los Gatos and in other parts is not springing back as quickly, but it will.
I see the confidence and the acknowledgement of the true scarcity of good homes in the higher income/asset buyers. They know the valley is solid and they want to get in before the window of opportunity slams shut.
It is already too late for that in Palo Alto, parts of Menlo Park and Atherton. Put on your track shoes, the spring is near and we will all be running.
By the way, any takers to run with me at the Bay to Breakers or the Rock and Roll Marathon in San Diego in June?

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