After having grown up in the Los Gatos/Saratoga area, living in the City (S.F., that is) and moving to Sun Valley, Idaho, I felt 100% certain where my husband and I would want to put down roots: Los Gatos.
How can any other town compete? 20 minutes to the beach, 2 minutes to the closest winery (Testarossa), walking distance to fantastic restaurants (Michelin rated Manresa, to name just one), not to mention excellent schools, shopping, people watching, farmers markets and more...need I go on?
So how has Los Gatos real estate been, with all of the turmoil and terrible headlines that one reads about every day? While the rest of the nation suffers, and even parts of our own Silicon Valley has, Los Gatos has yet to feel any pain. Why? It goes back to the old real estate addage: location, location, location.
Los Gatos home prices have not gone down; the homes may be on the market longer than normal, but the prices have only continued to go up. There are, on the other hand, a couple of "buys" out there in the condo market, where prices seem to be flat, compared to a year ago.
In addition, homes bordering Los Gatos, such as those in the 95124 zip of San Jose, are also desireable due to their proximity to Los Gatos and may not cost as much as those in or near downtown Los Gatos. Something many savvy buyers jump on, when given the opportunity.
What is curious to me is how so many people (mostly those new to California) put a premium on other comparable 'burbs on the Peninsula, such as Palo Alto. I say this because I have had many clients who think that they only want to buy in Palo Alto and then get very frustrated because almost everything still sells for more than the asking price there. Granted, Palo Alto has Stanford, and perhaps is more recognized than humble Los Gatos...and it is closer to the City...but Los Gatos has more charm and is just as close to the heart of Silicon Valley and is closer to the coast and Monterey/Carmel, Santa Cruz Mountain Wineries, and still only 1 hour from downtown San Francisco. The schools, by the way, are just as good if not better than those in Palo Alto. Los Gatos even has a nationally reknowned bicyling club (LGBRC) that sponsors the Cat's Hill Classic, where the likes of Greg LeMond and Davis Phinney have raced. It is also home to the oldest Children's Christmas Parade in the country - just a little extra tidbit for the parents out there! And, on top of all of that, Joe DiMaggio and Marilyn Monroe even stayed here after they were married in San Francisco!
I guess my only question is: what are you waiting for?? With interest rates down and the market being slow, this is a great opportunity to buy in a premier destination...Los Gatos, California.
