Tue09012015

News

Enchanté plaza remains open to the public

Enchanté plaza remains open to the public

Alicia Castro/Town Crier
The plaza area at Enchanté Boutique Hotel now serves drinks and small plates.

The Los Altos City Council Aug. 25 voted unanimously in favor of Enchanté Boutique Hotel serving beverages and small plates to the public on t...

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Schools

Mountain View High launches Bring Your Own Device program

Mountain View High launches Bring Your Own Device program


Megan V. Winslow/Town Crier
Mountain View High School staff distribute Chromebooks to students last week. The school is rolling out the Bring Your Own Device program this year, which gives students and teachers around-the-clock access to laptops.

Mo...

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Community

'Rock Back the Clock': End of an era, beginning of new one

'Rock Back the Clock': End of an era, beginning of new one


Town Crier File Photo
Time has run out for “Rock Back the Clock,” the 1950s-themed dance party at Rancho Shopping Center.

After 25 successful years, the “Rock Back the Clock” Committee has decided to end the annual 1950s-themed event held at R...

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Sports

Dean of the badminton court

Dean of the badminton court


Courtesy of the Tan family
Los Altos resident Dean Tan and mixed- doubles partner Jenny Gai stand on the podium shortly after winning the gold at the 2015 Pan Am Junior Badminton Championships earlier this month in Tijuana, Mexico.

Dean Tan began pl...

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Comment

Warning: Useless flood basin ahead

Our water and fire agencies receive much attention (and scrutiny) during the hot, dry days of summer – water for the lack of it and fire for its widespread destruction. During this extreme drought year, we are deluged with water conservation ma...

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Special Sections

A tale of two Los Altos love stories: Country club classic


Photos Courtesy of Kelly Boitano Photography
Lindsey Murray and Christof Wessbecher tie the knot in Los Altos.

Lindsey Murray and Christof Wessbecher grew up in parallel Los Altos orbits, never meeting – he went to St. Francis High School, sh...

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Business

Five thoughts on the current market correction

The 531-point drop in the Dow Jones industrial average Friday (Aug. 21) was certainly headline grabbing in its magnitude. It represented a one-day 3.1 percent drop in the index and resulted in a 10 percent correction from its high in May.

It’s compl...

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People

BRUCE CHARLES MEYER

BRUCE CHARLES MEYER

Bruce Charles Meyer, 81, died Wednesday, August 5th at his home in Carmel, California. He leaves his wife Valda Cotsworth and her daughter Katie Roos; his sons, Bruce and Joseph Meyer from his first marriage and his brother Gordon Meyer; four grand...

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Travel

Carmel Valley Ranch unveils upgrades

Carmel Valley Ranch unveils upgrades


Courtesy of Carmel Valley Ranch
Carmel Valley Ranch recently upgraded its Vineyard Oak suites, which feature sweeping views, rocking chairs and private outdoor tubs for soaking under the stars.

Things are heating up at Carmel Valley Ranch, with 30 n...

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Stepping Out

Open 'House'

Open 'House'


Kevin Berne/Special to the Town Crier
Anna Patterson (played by Kimberly King) accepts a drink from Michael Astor (Jason Kuykendall) in “The Country House.”

TheaterWorks Silicon Valley’s regional premiere of “The Country House” is scheduled to r...

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Spiritual Life

Los Altos native combines Judaism, social justice, advocacy

Los Altos native combines Judaism, social justice, advocacy


Los Altos native Gabriel Lehrman’s passion for Judaism, social justice and advocacy brought him to Washington, D.C., this summer for the Machon Kaplan Summer Social Action Internship program at the Religious Action Center of Reform Judaism.

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Inside Mountain View

MV actress/playwright Garvin wins NY festival award for

MV actress/playwright Garvin wins NY festival award for "Corners Grove"


Courtesy of Undiscovered Countries
Kaela Mei-Shing Garvin received a New York arts festival award for a featured role in “Corners Grove,” a play she wrote.

New York recognized that one of Mountain View’s own can “make it there” when the Planet C...

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Competing with cash offers in the real estate market

It is no secret that even as the local housing market is doing much better these days, it is tough out there for the typical homebuyer – and even tougher for first-time homebuyers.

Because interest rates are still low and inventory is tight, homebuyers are continually losing out to all-cash buyers and investors.

“We are seeing our inventory rise, but not enough to accommodate the demand for homes,” said Carolyn Miller, president of the Silicon Valley Association of Realtors. “Mortgage interest rates are edging upward, and many homebuyers feel they are being squeezed out at a time when they still see a window of opportunity.”

Miller, who has practiced real estate for more than 30 years, has seen more than her share of challenges in the market for all types of buyers and sellers. She said first-time buyers typically face more financial challenges and are less familiar with the complexity of a transaction compared to repeat buyers.

“These homebuyers get so frustrated that they either drop out of the market or make a wrong decision,” she said. “As realtors, it is our job to manage their expectations, help them understand the complexities and financial aspects of a home purchase and prepare them to move quickly in a market where there is a severe shortage of inventory.”

Miller noted that the following strategies may help homebuyers compete in this market.

• Get preapproved. Secure a preapproval letter from a mortgage lender. It is not enough to get prequalified. Getting preapproved is more in-depth than getting prequalified. The process includes an analysis of your credit report and an extensive financial background check. Your lender will be able to tell you the specific mortgage amount for which you are approved and the interest rate you would be charged. You might even be able to lock in a specific rate. Preapproved buyers have an edge with a seller over those who are not preapproved because they have a commitment in writing from their lender. This lets the seller know that they are serious and can afford to purchase the home.

• Check the disclosure documents. When you find a property you like, review and understand the disclosures the listing agent prepares and provides. If you don’t understand something, ask questions and have your agent find the answers. Some realtors schedule inspections when they obtain the listing and use those reports as working documents to prepare the house. There may be differences between what the house is now and what it was then.

• Prepare a clean offer with the help of your realtor. Rather than worrying about the little things, be concerned about the big ones. Be genuine and honest when you make the offer. Remember that obtaining a loan is normal. After all, it’s all cash to the seller at close of escrow, and cash offers don’t always close quickly.

• Write a letter. Write a letter to the sellers telling them why you like the home, why you can see yourselves living there, etc. Owners usually love their homes and want you to feel the same way. Express your heartfelt feelings. Cash buyers may not always want the home for their residence, and that can make a difference to a seller.

• Have your agent present your offer personally. If at all possible, have your agent present your offer in person to the listing agent and seller. Real estate is a very intimate business, and an agent personally presenting a client’s offer can make all the difference.

“Remember that it’s not always all about cash. If you have all your ducks in a row, your offer will be fine,” Miller said.

The Silicon Valley Association of Realtors provided information for this article. For more information, email Rose Meily at This email address is being protected from spambots. You need JavaScript enabled to view it. .

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