Home&Real Estate SLIM PICKINGS
OPEN HOME GUIDE 55
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Home Front
TEXTILE BOUTIQUE ... Wonder what people make with all those FabMo fabric giveaways? Check out FabMo’s fourth annual Textile Art Boutique from 10 a.m. to 4 p.m. on Saturday, Oct. 27, at the Quadrus Conference Center, 2400 Sand Hill Road, Menlo Park. Close to 50 artists will offer products crafted substantially from repurposed FabMo materials. Information: www.fabmo. org
in the multifamily market
NEW DIRECTOR ... Cynthia D’Agosta will take the reins as executive director at Filoli, Woodside’s historic National Trust for Historic Preservation site located at 86 Cañ ada Road, beginning Dec. 1, and be on hand to greet visitors to the annual Holiday Traditions fundraiser, which begins Nov. 23. The former executive director of the Committee for Green Foothills and the first executive director of the San Francisquito Creek Joint Powers Authority, D’Agosta has a bachelor’s degree in science and fine arts from UC Santa Cruz and a master’s degree in landscape architecture from Harvard University’s Graduate School of Design. D’Agosta is a Bay Area native and a visual artist.
Michelle Le
HEALTHY CHINESE FOOD ... Frances Sterling will teach a class on “Healthy Homemade Chinese in 30 Minutes” from 6:30 to 9 p.m. on Monday, Oct. 29, at Palo Alto High School, Room 103, 50 Embarcadero Road, Palo Alto. Through demonstration, participation and sampling, the class will cover pantry staples and explore new flavors. Class includes pamphlet with names and pictures of Chinese sauces, seasonings and foods used in class. Cost is $50. Information: 650-329-3752 or www.paadultschool.org
Investors have little to choose from because owners hold on by Maytal Mark f you’re looking to purchase investment property in Palo Alto, Mountain View or Menlo Park, you may be facing slim pickingws and a competitive market. In early September, there were only just over a dozen properties on the market within the three cities. At the lowest, a duplex in Menlo Park was offered at about $300,000 while at the highest end, a 26-unit Mountain View complex was listed at $5.9 million. Robert Taylor, of Taylor Properties, Palo Alto, chalks it up to the typical owner of residential in-
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come property. According to Taylor, many multifamily properties have stable ownership and most buyers are looking for a long-term investment, leading to a competitive but non-volatile market. “Most of the property coming on the market is estate. Sometimes people are selling for an exchange for a larger property,” Taylor said. The relative stability of this market often makes for dependable and secure investments. “Rents have increased which means that the number of sellers has dropped. Most people are making very good money and have no incentive
to sell,” he said. “I have elderly clients, this is their investment strategy; it’s their income stream.” Generally there are few transactions in this area, according to Taylor. The rent from paying tenants living in the various units can also provide a sense of security for an owner looking for support in paying the mortgage. “There’s never a time when you can’t rent,” Taylor said. “You can raise or lower rents as needed. (continued on page 39)
CAKE DECORATING ... Christine Hopkins will offer the basics of “Cake Decorating - Level 1” from 6:30 to 8:30 p.m. on Mondays, Nov. 5 to Dec. 3, at the Arrillaga Family Recreation Center, 700 Alma St., Menlo Park. Included in the curriculum is making roses, leveling a cake, making icing, as well as creating decorative strokes such as stars, shells, leaves — even clowns. Cost is $85 for nonresidents, $64 for Menlo Park residents. Information: 650-330-2200 or www.menlopark. org N
(continued on page 39)
Michelle Le
SILICON VALLEY HOME TOUR ... A prototype for a prefab, green home by Connect:Home is a highlight of this year’s Dwell Silicon Valley Home tour on Saturday, Nov. 3, and Sunday, Nov. 4, from 10 a.m. to 4 p.m., with self-guided tours of five modern homes in Los Altos and Los Altos Hills on Nov. 3, and five in Atherton, Menlo Park, Palo Alto and Hillsborough on Nov. 4. The event kicks off with a “meet the architects” cocktail reception at FLOR, 321 University Ave., Palo Alto, from 6 to 9 p.m.
Top, this multifamily complex at 328 Waverly St., Menlo Park, sold in October for $1.4 million. Above, this triplex at 657 Channing Ave., Palo Alto, sold for $2.3 million in October. ÜÜÜ°*> Ì " i°V ÊUÊ*> Ê Ì Ê7ii ÞÊUÊ"VÌ LiÀÊÓÈ]ÊÓä£ÓÊU Page 37