San Jose Real Estate * Santa Clara County * Richard Gonzalez * Real Estate Broker * Realty World Powerhouse Brokers

I uploaded the latest sales data to youtube. Please take a moment to watch this three minute video.

January 2010 sales data for Santa Clara County.

SOFA Restaurant

Eulipia is located in the South First Street Area(SOFA) and directly across from Eulipia is a beautiful new high rise condo and loft development called Three Sixty Residences. I passed by Eulipia many times since the downtown revitalization began thirty years ago, I even remember having dinner a few years back and for that reason I decided to give it another try.

As I previewed the menu from the window I noticed Eulipia’s California Cuisine had a large variety of options including steak, seafood, pasta. when I walked in I was immediately seated and served a warm basket of bread which by the way was the way I like it; Crunchy on the outside and soft and warm on the inside. The atmosphere was dark with candles on the tables. Perfect for a first date or dinner before heading to the theatre across the street at the California Theatre. There is also a large bar if you decide to to have drinks and appetizers.

Dinner Menu

Starters range from $8-$12  including a Ahi Tuna Tarter that looked great. I overheard another customer state to the manager that the the Ahi was especially good. Most of the main courses are in the $20 – $30 range.

Lately I tend to gravitate to fish but was tempted by the “10 oz Blackened Rib-Eye Steak” but ultimately gravitated to the “Atlantic Salmon Roasted with Cashew Nuts”  marinated in Dijon mustard, with season vegetables and lemon butter.

It was excellent to say the least and the portion was a larger than the usual California Cuisine size.

Eulipia’s Legacy

After the meal I had a conversation with Mark McCandless who stated that Eulipia’s legacy has been 30 years in the making. An incredible stretch by any restaurant. The owners are Steve and Mike Borkenhagen who by the way also have another restaurant in Los Gatos called Valerianos.

My take away

Downtown continues to make strides in the revitalization and through the entire process Eulipia continues to be a perfect example of a romantic restaurant in a city that continues to grow.

Eulipia Menu

Rating: 4 out of 5 stars

Entree Price: $20 – $30

Address:

374 S. 1st St

San Jose, Ca. 95113

(408) 280-6161

Eulipia Website

Santa Clara County sales are down but so is the inventory reported DQNews.com. The article published today states that January 2010 sales are down from December 2009 but those are normal levels for this time of year.

Limited inventory equals less sales activity

The article also attributes this to various factors including tax credit, financing and lack of inventory. I know this already but in our case  our clients are experiencing very limited inventory as the main factor.

Trend should continue in 2010

While sales have fallen in recent months we are going to continue to see this trend in the Silicon Valley mostly because of HAFA and as the demand for housing continues to remain high. Another contributing factor is that sellers not in foreclosure who would normally consider selling are staying put as the economy continues to recover.

The chart below shows in increase in sales volume for Santa Clara County and an improvement in the Median sales price.

source dqnews.com

Click here to read the DQNews article

The very first question most home-buyers ask is “How much do I have to earn to buy a home in Santa Clara County?”. The answer may be found in the California Association of REALTORS 2009 Fourth Quarter Housing Affordability Index report.

• 52% of Santa Clara County residents currently qualify based on current housing prices and personal incomes.
• The Chart below shows that you have to bring home a combined total of $85,200 in order to make an average payment of $2,840(taxes and insurance included).
• Based on this criteria you should be able to purchase a home on an average sales price of $497,250.

There are more affordable homes in Santa Clara County and as such you can qualify for less. Consult your banks loan officer or mortgage broker to pre-qualify yourself.

Click here to read C.A.R.’s full report

I week ago I attended the California Association of REALTOR meetings in Indian Wells and attended an open committee meeting with high level managers from Bank of America and Wells Fargo. I added a video describing these changes to my Youtube Channel.

Click on the video below to see my report from the Indian Wells Resort.