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Tom McEvoy

Real Eats -- Pezzella's Villa Napoli, Sunnyvale, CA

02-15-08
Tom McEvoy

Standing room only! That's how it was from the time my wife and I got to Pezzella's until the time we left!

Dinner at Pezzella's is something special for us so we chose it for Valentine's Day dinner, even though we've been regular patrons for many years. Reservations made about a week before made the experience even better as we were seated at the time we reserved and left many waiting in the lobby area. So, as with many things in life, planning ahead makes it more enjoyable.

We started off with an off-menu item -- spinach salad. One of our Pezzella's favorite, so instead of splitting a salad which we do frequently, we each ordered one! Inside tip: they often will make this delicious salad even though its not on their regular menu.

For our main courses, my wife had her favorite Red Linguine Misto with clams, prawns, and crab. "It was great" was her words! My entree was off their special Valentine's Day menu. I ordered the Petrale Sole with lemon-butter caper sauce. In addition to a very generous portion of sole, it was served with rice and grilled veggies and was outstanding. We topped it off with a Chocolate Tartuffo (ball of gelato) coated with pistachios and cocoa and served with whipped cream. Wow!

Service was attentive but not overbearing and prices were reasonable so we continue to be pleased with the value package (excellent food, great service and reasonable prices) they present.

Pezzella's, a family-owned restaurant, has been a part of Sunnyvale for more than 50 years and greeting us last night was Pat and Margie Pezzella who are always so gracious and helpful.

To view an excellent website with lunch and dinner menus, photos of menu items and more go to http://www.pezzellas.com/.

Pezzella's Villa Napoli, 1025 W. El Camino Real, Sunnyvale, CA (408) 738-2400.

When you go, say "hello" to Pat and Margie! Thanks for reading!

February Silicon Valley Real Estate Market Update

02-13-08
Tom McEvoy
This information summary and analysis uses MLS Listings Inc. (MLS) transactional data for January 2008. For single family homes in Santa Clara County, January saw the fewest closings (338 closed escrow) of not only any January but of any month going back to at least 1988, when the MLS records began! There were 338 closings in the month with 563 initiated sales (accepted offers) that indicates that closings in February will be higher. This lower closings record occurred across the board in each of the counties I track closely: Santa Clara, San Mateo, Santa Cruz and Monterey. Inventory of available homes was 4,432 up from 4,031 in December compared to a high of 4,925 in October. Since we've had a significant number of homes come off the market in late 2007, I forecasted that we'd see a rebound in inventory either in January or February as some of those homes come back on the market for another try. We did indeed see that occur and we may see even higher inventory in the months ahead.

Days of Unsold Inventory (DUI) or the intersection of the inventory (supply) with the recent sales level (demand), shows Santa Clara County at 214, down from 303 in December, San Mateo County at 161, down from 190, Santa Cruz County at 274, down from 351 and Monterey County at 404, down from 579. Clearly, even with the drops in this indicator, these still are indicating a buyer's market condition as a reading of DUI above 90 depicts. For comparison, a seller's market will have a DUI of less than 45 and a balanced market will have a DUI between the two. Keep in mind that these are county-wide averages so there is an incredible variation between those areas experiencing terrible market conditions compared to those at virtually the other extreme.

As I've mentioned, real estate is local (down to the neighborhood level) and market conditions can vary within each county and even within cities by a large amount. For instance, within Santa Clara County, Mountain View, Los Altos, Palo Alto and Cupertino have the best market climates in the county with a DUI reading of 61, down from 83, while San Jose's East Valley has the worst reading of 542, down from 698 followed by South County (Morgan Hill, San Martin and Gilroy with 440, down from 542. In San Mateo County, the best market climate is in Foster City/Redwood Shores area and contrasts with the San Mateo coast that includes Half Moon Bay and Pacifica.

The following is a ranking of selected Santa Clara County cities or areas with their current DUI readings and last month's calculation in parentheses. Even though there are a lot of "improving" notations made, these areas are still in what we call a "buyer's market". Just some markets are much better off than others.

  • Los Altos, Mountain View, Palo Alto - 61 (last month -83) - improving
  • Cupertino - 61 (94) - improving
  • Almaden Valley - 129 (120) - worsening
  • Los Gatos, Saratoga - 134 (126) - worsening
  • Campbell - 79 (128) - improving
  • Cambrian - 111 (148) - improving
  • Sunnyvale - 106 (152) - improving
  • Willow Glen - 140 (163) - improving
  • Milpitas - 141 (210) - improving
  • North Valley - 248 (263) - improving
  • Downtown SJ - 242 (275) - improving
  • Evergreen - 213 (303) - improving
  • South San Jose - 372 (446) - improving
  • East Valley - 542 (662) - improving
  • Morgan Hill, Gilroy, San Martin - 440 (698) - improving
The median price for single family homes in Santa Clara County was $743,500, down from $799,000 in December and down from the record high reached in April 2007 of $868,400. This is a decrease of 14.4% from the peak. There is still an emphasis (overweighted percentage) of higher-priced homes sold as opposed to the more affordable homes but not as pronounced as last year when the sub-prime loan problems started in February 2007.

Median prices for single family homes by county in January 2007 were:

  • Santa Clara County - $743,500
  • San Mateo County - $877,500
  • Santa Cruz County - $610,000
  • Monterey County - $500,000
These median prices are back to the levels reached in early 2006. The price range with the lowest DUI is called the "sweet-spot" of the market. For January as is was in December, the $1,000,000 to $2,500,000 range is the most brisk. Next comes the $750,000 to $1,000,000 range and then the under $450,000 range. For condo/townhouses the picture is similar but slightly better with a DUI reading of 216, down from 264. Potential real estate investment buyers take heart as the DUI picture has continued to deteriorate to a reading of 563, down from 529. This means under the current rate of sales of multi-unit properties, there are about 1.5 years of supply! The "sweet-spot" of the multi-unit or investor class is the range $1,000,000 to $2,500,000. If not for this range's activity levels, this segment would even be worse! Lenders have substantially increased the borrower's minimum requirements to obtain a loan for investor property purchases.

Why is following all these statistics worth it? I believe that informed clients make the best decisions. The research and staying on top of the changes to market conditions allows me to properly advise my clients on the appropriate strategy to employ so that they make the best decision possible. This is one area I part company from other real estate agents who don't invest the time and would rather spend time working on self-promotion ads for newspapers, magazines and fill your mailbox with either "brag" cards or "spray and pray" cards.

The various real estate markets are too complex for media sound-bites or headlines as they generalize too much (i.e., the national real estate market, the Bay Area real estate market, etc.) and you lose the fineness of being able to use information strategically to make better decisions. These publications are often weeks and sometimes up to a couple of months later than my data which comes directly from the multiple listing service of actual transactions.



If you have any comments or questions, please feel free to post them here or send me an email at tom.mcevoy@remax.net.




Thanks for reading!

World class chocolates in the Valley of Hearts Delights

02-13-08
Tom McEvoy

You've made dinner reservations at a romantic restaurant (I did!) and you might have picked up a little something for her at her favorite store (I'm looking!) but the there's always sweets for your sweets for Valentine's Day. By the way, the Valley of Hearts Delights is another name for Santa Clara Valley!


Here are some world class chocolatiers from Silicon Valley to Santa Cruz:


Chocolate Dream Box



710 Blossom Hill Road, Los Gatos. 408-356-2626 http://www.chocolatedreambox.com/

Pictured are hand-crafted chocolates in beautiful boxes by Chocolate Dream Box




Fleur de Cocoa Patisserie Chocolaterie






39 N. Santa Cruz Avenue, Los Gatos. 408-354-3574 http://www.fleurdecocoa.com/

Pictured are selected handmade chocolates from Fleur de Cocoa




Richard Donnelly Chocolates




Saratoga Chocolates



Schurra's Fine Confections




Shokolaat





Sugar Butter Flour




Pictured is Dark Chocolate Ganache Truffle from Sugar Butter Flour






Happy Valentine's Day!

Thanks for reading!

Real Eats -- Aldo, Los Altos, CA

02-10-08
Tom McEvoy

Real Eats – Aldo, Los Altos, CA
Here are notes that I'd like to share with you of a visit to Aldo by my wife and her two friends last week. I was so impressed with her comments about this restaurant that we've added it to our list!

My two friends and I don’t often have a chance to get together for lunch so when we do, we like to make it special.

We drove to downtown Los Altos on Main Street to look around in some of their shops before lunch. After shopping, we had to make a decision – where to have lunch.

We decided on Aldo, an Italian restaurant on Main Street. Their tag line is "cicchetti e piatti piccolo" or "eat small…live large!" Their menu has something for everyone, even my friend with the limited palate. Choices range from salads, both large and small, paninis, pastas, main courses and, of course, their cicchetti (pronounced chi-ket-ti) or small bites. Our beverages were promptly served along with a wire-coned shaped basket of a variety of unusual but tasty breads. Two of our party chose the Toscana con Pollo which is a bread salad with diced bread, tomatoes, cucumbers, capers, red bell pepper and grilled chicken breasts. The salad was huge! I tasted a bite of the chicken and it was delicious – the seasoning permeated throughout. I chose the Pappa al Pomodoro, a rustic, Tuscan-style tomato-bread soup, although I chose to have the bread cubes served on the side. It was an extremely tasty bowl of soup. Along with the delicious soup, I ordered the Caprese side salad because I love Caprese and this one was served with a twist – grilled eggplant. Along with the eggplant were sliced tomato and mozzarella cheese layered with basil, EVOO (extra virgin olive oil) and topped with a balsamic vinegar reduction which gave it a slightly sweet flavor.

The service and food was worth the upscale pricing and I would gladly return to try some of their fabulous menu offerings. Arrive early for better seating as we arrived at 11:30 am and when we left about an hour later, tables both inside and out were nearly full. Parking is also better for early arrivals.

Aldo Los Altos
388 Main Street
Los Altos, CA 94022

650-949-2300

email: aldolosaltos@sbcglobal.net

Thanks for reading!

Silicon Valley Calendar of Events -- February 2008

01-25-08
Tom McEvoy

Hello and Happy Chinese New Year -- Gung Hey Fat Choy -- Year of the Rat! Here are some events and on-going programs you might want to put on your calendar for February. These are selections from Sunnyvale, Cupertino, Mountain View, Santa Clara and other communities in Silicon Valley.

February 2: Serving Children with Special Needs and their Families, 9:00am

February 2: California Theatre Center presents "The Adventures of Tom Sawyer", 11:00am and 7:30pm

February 2, 9, 16, 23: Farmer's Market, 9:00am

February 3, 10, 17, 24: Fair Oaks Toastmasters, 11:30am

February 4: Sunnyvale Neighborhood Associations Winter Quarterly Meeting, 7:00pm

February 6, 13, 20, 27: Kiwanis Club of Silicon Valley, 7:30am

February 6: American Association of Retired Persons (AARP), monthly, 1:30pm

February 7: SNAIL Neighborhood Association, monthly, 7:00pm

February 8: Heritage District Neighborhood Association, 7:30pm

February 9, 16: California Theatre Center presents, Cinderella, 11:00am

February 9: Evenings of Cultural Arts presents, Sunnyvale Theater, Sunnyvale Community Center, 8:00pm

February 11, 25: Sunnyvale Planning Commission Meeting, 8:00pm

February 12: San Miguel Neighbors Association, general meeting, 7:00pm

February 13: Sunnyvale Parks and Recreation Commission Meeting, 7:00pm

February 13: Lakewood Village Neighborhood Association, monthly, 7:00pm

February 14: Wake Up Sunnyvale!, Sunnyvale Chamber of Commerce Breakfast, 7:29am

February 16: Compost Workshop, 10:00am

February 16: Household Hazardous Waste Drop-Off, 8:00am-1:00pm, Sunnyvale residents

February 16, 23: Sunnyvale Community Players presents, Pippin, 8:00pm

February 18: President's Day Holiday

February 20: Sunnyvale Arts Commission Meeting, 7:00pm

February 21: Sunnyvale Bicycle & Pedestrian Advisory Committee Meeting, 6:30pm

February 27: Glaucoma Support Group of the South Bay, 6:30pm

February 27: Sunnyvale Housing and Human Services Commission Meeting, 7:00pm

February 28: Sunnyvale Chamber Mixer, 5:00pm


Most Tuesdays: Sunnyvale City Council Meetings, 7:00pm


Mondays, Wednesdays, Fridays: Computer and E-Waste Recycling, 8:00am-4:30pm, Cupertino proof of residency


Every Wednesday: South Bay Community Orchestra, Noon-1:00pm for strings, 1:00-4:00pm for full orchestra


Every Saturday: Family Astronomy Evenings, De Anza College Minolta Planetarium, 6:00pm, 7:00pm or 8:00pm


Every Second Monday of Month: Fine Arts League of Cupertino, Quinlan Community Center, 7:00pm

Thanks for reading!