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The Silicon Valley Market Report for February 2010

So far 2010 is off to a roaring start, with multiple offers again becoming commonplace, and highly qualified buyers lining up in some cases to present strong offers for well-priced, desirable properties.

As a couple of data points, our listing for a three bedroom home at 842 Sycamore Drive in Palo Alto, an entry-level home priced at $949,000, received 14 offers and sold for over $1,100,000. A similar property nearby on Greer received 12 offers the same week and sold for just under $1,100,000 vs. a list price of $979,000.

This market imbalance of large demand chasing limited supply isn’t limited to the entry level, homes in Los Altos and Palo Alto listed between $1.5M and $2M are receiving multiple offers as well, and even our office listing at 75 Coronado in Los Altos priced at $3,995,000 has been getting more interest lately.

As we begin to see more homes coming on the market as we move through the spring, I expect to see the market cool as the supply of homes for sale catches up with demand, and buyers have more choices. In the meantime, the Sellers seem to have the advantage if they have homes that are attractive to mainstream buyers.

That $45,000,000 estate on Stonebrook Drive in Los Altos Hills is a great example, as it is now an $28,000,000 estate. Do I hear $15,000,000?

In summary our current market continues to be driven by the following conditions:

• Low inventory of desirable homes for sale that are well priced
• Buyers motivated & feeling like they will miss out with limited selection
• Fears of rising interest rates are driving motivation to buy now
• Realization by buyers that they can’t buy for 20% below list now. Most sales in $1M – $2M are 10% under to 10% over list.

Opportunities:

• Interest rates are currently at historic lows
• The government is buying down conforming rates under $729,750 through March 2010, which holds down jumbo rates as well
• Consumer confidence is picking up – I’m seeing new cars more often, and new car sales are an indicator of increasing consumer confidence which leads to a strengthening economy, as consumer spending is the largest component of our economy

Threats:

• Government buydowns of conforming loans are scheduled to end in March which will lead to rising interest rates on conforming and jumbo loans
• Forecasted loan resets on commercial property in 2011. You can’t refi empty office buildings and vacancies are up
• Lots of buyers rushed to purchase before the tax credit expired December 1,2009 – Will this leave a hole in demand in early 2010? Not so far . . .
• Unemployment is 10% locally, and there is limited job growth forecasted for the next year.

In the threat department, I’ll refer again to this report from Bloomberg last month, which is especially relevant in our area:

Homeowners with mortgages of more than $1 million are defaulting at almost twice the U.S. rate. This brings the rate of default for these considerable loans up to a skyrocketing level of 12 percent as of September, compared with 6.3 percent on loans less than $250,000 and 7.4 percent on all U.S. mortgages. This is quite a jump from the year prior where the rate for default on the $1 million dollar plus mortgages as only 4.7 percent.

In contrast to these ominous reports and Threats, we are seeing strong upwards trends across our area in our Market Action Index, that catch all indicator based on prices, inventory, and time on the market. We are even seeing the MAI climb toward parity in the lower price ranges in markets like Palo Alto and Mountain View.

On to the numbers:

Atherton:

The Average Price of a Single Family Home in Atherton is $6,124,821 with a range of $1,150,000 to $14,900,000. 25% (versus 33% last month) of the homes in Atherton have had price reductions, and the average number of Days on Market is 270 days versus 272 last month. It remains a Strong Buyer’s Market in Atherton, although the Market Action Index has been trending upward over the last quarter.

Los Altos:

Currently, the Average Price of a Single Family Home in Los Altos is $2,165,536, with a range of $995,000 to $4,995,000. 25% (down from 39% last month) of the homes in Los Altos have had price reductions, and the average number of Days on Market has fallen to 165 days versus 172 last month.

Los Altos Hills:

In Los Altos Hills, the Average Price of a Single Family Home is $4,983,866, with a range of $944,900 to $28,500,000. 30% (down from 33% last month) of the homes in Los Altos Hills have had price reductions, as Sellers are learning that the market has shifted, and the average number of Days on Market has declined to 247 days from 261 days last month.

Menlo Park:

This month, the Average Price of a Single Family Home in Menlo Park is $1,491,797 with a range of $190,000 to $6,495,000 (The $225,225 is in East Menlo Park, the bottom of the Menlo Park market is about $800,000). 27% (up from 24% last month) of the homes in Menlo Park have had price reductions, and the average number of Days on Market has risen to 163 days versus 150 last month.

Palo Alto:

In Palo Alto the Average Price of a Single Family Home is $2,270,343, with a range of $750,000 to $23,950,000. 20% (versus 34% last month) of the homes in Palo Alto have had price reductions, and the average number of Days on Market has fallen to 158 from 179 last month.

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If I can answer any questions for you regarding the market, please contact me directly at: 650-450-0450.

Thanks for reading . . .

Economic Forecast, Extending the Tax Credit and the Golden Window for Buyers

On October 12, I attended a SILVAR sponsored economic update and forecasting presentation by CAR EVP Joel Singer, and I thought you might find the following summary and comments beneficial:

• As we all know financing is the primary key to housing stability, and Singer is 100% confident that both tax credits and the $729,750 conforming limits will be extended into 2010—both of which are keys to continued recovery
  • 40% of first-time buyers for 2009 bought because of the tax credit
  • The Feds are on track to extend the credit, maybe even improve it, so let’s keep our fingers’ crossed
  • The CA State Senate already approved the extension of the state $10,000 tax credit, and it should pass Assembly this week—yeah!
  • Food for thought: before the competition increases due to formalizing the tax credits, first-timers should make their move sooner than later
• The move-up market here is the most impacted, but will improve as financing does; as such, he feels as though there will be some level of government involvement to stimulate the secondary market for non-conforming loans
  • Right now, inventory levels for $750k-$1mm are at 6.1 months, which is healthy; inventory levels for $1mm+ are at 12.8 months, which signals a clear buyers’ market
  • With government support, non-conforming lending will ease, but not necessarily cause rates to be lower—current margins are already at all-time highs primarily due to risk—by stabilizing the system and improving liquidity, risk is reduced, savings rates increase and rates remain about the same
• Futures point to a Fed funds rate rise of .500% to .750% and conforming 30-year fixed mortgages at 5.6% in Q2 2010
  • As such, this gives anyone needing a conforming loan about 5 months before both rates and prices are up significantly
  • And if you missed the headline on September 24th about the Fed easing their policy of keeping mortgage rates low, you’ll want to know that they are almost cutting in HALF the  the effort– $14B versus $25B
• The overall number of homes/units sold next year will be down, but that’s only because we had a record number of units sell already this year—foreclosures will be DOWN relatively significantly
  • Activity will still be high and it’s likely the $1mm+ segment that will provide buyers with the best value
  • The “second wave” of foreclosures due to rate adjustments is a farce—many people, like myself, are looking forward to loans adjusting at lower rates, which is precisely what the majority of those loans will do
• 2010 will be a growth year with GDP expected at about 1.9%
  • Great news for the economy, but growth causes higher prices and higher rates—
• The population of CA will grow another 1.1%, so that’s about $370,000
  • We’ve added about 600k people per year since 2000, and about 500k babies are born in CA each year, so I guess that means there will be more demand on housing, which is also good news
• Unemployment may be 12% in CA, but that number is tied mostly to construction-related industries. 
  • With High Tech, Finance, Exports and Travel all on the rise for the Bay Area, our property values and local economy should benefit significantly

The Latest on Rates and Activity

Even with the incredible rates that continue to drive the refinance market, over 50% of the transactions that we closed in September were purchase transactions.  Also of importance is the fact that of those purchase transactions, 35% were financed using “JUMBO” loans!   Jumbo 30-year fixed loans are running about 5.75% and that jumbo 5/1’s are around 4.50%.  And if you have a $417k conforming loan, 5/1’s are available at 3.75%!!

According to the MBAA, last week’s applications were down, but the four week moving average is up, along with interest rates (albeit slightly).  We’re seeing the opposite effect locally, but it’s likely due to the many move-up buyers looking to take advantage of the $1mm+ market through Winter.

Is it just me, or does it genuinely feel like the golden window of opportunity for buyers right now..?

A great success story for us lately included funding a loan for a borrower who had a 63% debt-to-income ratio.  We have also bridged three separate transactions that allowed buyers to move up without having to sell their current home first.  And finally, we improved a client’s credit score by 100 points and saved them over $8,000 by having an erroneous collection removed from their credit record.  So even with all the news headlining the challenges in the mortgage world, at least some great success stories continue to be made.

A Fair Oaks Castle

Fair Oaks is one of my favorite Menlo Park neighborhoods, partly because of the unpredictable mix of properties. There is a sprinkling — but only a sprinkling, mind you — of McMansions, but the rest are a melange of cottages, Victorians, Craftsmen, bungalows, and small Ranches.

Today’s tour offered a surprise in the form of 655 14th Ave, brought to the market by friend and colleague Shelly Roberson, wife of 3Oceans contributor David Roberson. I’ve driven by the home many times and found the exterior square-castle look intriguing, but the inside is even more so.

Though 1900 sq ft in size — larger that most Fair Oaks homes — the inside has a warm, cozy feel, brought about by the owners’ artistic flair and Shelly’s own staging handiwork. (She’s one of a handful of agents who stage their own properties. Trust me, you don’t want me doing that for you!)

My favorite touch was the Tintin poster on the wall in the upstair’s kid’s bedroom, which brought back nostalgic childhood memories — which I suppose was the intent! (If you did not grow up in the UK, France, or a former colony of either, you may not be familiar with the Tintin series. Do yourself a favor and buy a couple comic books. While you’re at it, get some from the Asterix series as well.)

This listing looked like a good excuse to try out the Popup Image Gallery Wordpress plugin from Yellow Swordfish (not to be confused with Redfin).

To The New Owners of 730 Seale, Palo Alto: I Want to be Your Au Pair

Every now and then you come across a home that’s just enchanting and has a story that’s simply begging to be told.  Suzie Provo — friend, colleague, and a top local agent — had one such property on tour this morning:  730 Seale in Palo Alto.

Come with me as we take a walking photo tour…

Read more

Fire Engine Red, A Proud Fixer Upper, and More Eichlers: All in a Day’s Palo Alto Real Estate Tour

Chomping at the bit to go, I headed straight out of this morning’s broker marketing meeting to see what the new Palo Alto inventory looks like. The outcome? Inventory is definitely on the rise, with both statistical proof (the Altos Research chart on the left) and the general buzz and business of everybody touring around today.

With six homes on my list — scattered throughout town — and only two hours on my calendar, it was all about efficiency.

First up was 1045 Newell, an “original Barrett & Hilp home,” a Leannah Hunt (Coldwell Banker) listing in the Green Gables neighborhood. $1.25M gets you 3 bedrooms, 2 bathrooms, 1500 sq ft, and a quick 5-10 minute drive on Embarcadero over to the 101. A trust sale home and not particularly updated — but well-staged, per Leannah’s custom — this home awaits the next generation of Palo Altan home owners.

Then it was across Embarcadero and Oregon over to South Palo Alto to see another Coldwell Banker listing — this one from Robert Lane — at 2898 Louis Road. “This one has charm,” says the listing, and it would be hard to argue with that. It has 2 bedrooms and 2 baths squeezed into just under 1000 sq ft, so the next owner will most likely want to expand — but since it’s a corner lot, the only way to do so and still keep in line with Palo Alto’s setback laws may be to go into the side yard.

Just south of this Louis Road listing was 770 Allen Ct, a fixer upper and proud of it. The listing agent, Steve Greenbaum from Keller Williams (another technophile like myself!) explained that a contractor actually lived in the property in its current condition — something I’m not sure I could have done even in my Peace Corps days — but simply didn’t finish the project. The bones of the home look good, and the yard is large, though in need of some TLC. An old fashioned pot-bellied stove in one of the rooms awaits the new owner.

Then there’s the fire-engine red Eichler at 3924 Louis. Nancy Goldcamp (Coldwell Banker again — what’s with this? Did Alain Pinel go out of business?) brings us this $1.175M 3/2 1900 sq ft, adorned with a great kitchen, and with all the light you would expect from an Eichler. Great staging, though tragically not done by my friend Ann O’Connell. Oh well, we’ll give her a few more years to completely corner the market.

Rounding out my tour today was another small property begging for a facelift or perhaps even a complete organ transplant. 3176 Emerson is, as the listing agent Richard Cottrell himself describes it in the MLS, a real fixer upper on a terrific lot in a great neighborhood. Folks living outside of this fantasy land we call the Bay Area may be shocked that a fixer-upper — and an 840 sq ft one at that — is not only on the market at $935,000, but will in fact probably sell with multiple offers, well above that price.

Fair Oaks, the Bastard Stepchild of Menlo Park? Not so Fast There!

On today’s broker tour list were a few properties in Fair Oaks, sometimes considered the bastard stepchild of Menlo Park.  Fair Oaks residents naturally bristle at the description, brought about by the harsh reality of being a) unincorporated and, more importantly b) in a poor school district.  Menlo Park-ians (and their southward Palo Alto-an neighbors) are nothing if not school-obsessed.  Throw in streets that might politely be called “rustic”, generally small lots, and starter homes, and the image is complete.

You generally know what to expect when you see a Fair Oaks home:  a small, but generally cute and nicely done up place.  Nothing exciting, but certainly nothing shabby either.

As a sign of the neighborhood’s attempt to catch up with the rest of the city, I present two properties that were on tour today.

First up was 657 10th Avenue, a Natalie Comartin (Coldwell Banker) listing.  Priced at just a whisker under $1.2M, the home looks respectable from the outside…but upon entering you have to stop and take a breath.  “Am I still in Fair Oaks?  Did I take a wrong turn and somehow end up in a small Atherton home?”  Its columned entrance leads in to an elegant tall ceiling, painted a bold but pleasing red, with shining-to-within-an-inch-of-its-life hardwood floors.  Even more striking is the high-ceilinged living room, with a fireplace and a skylight that gives the room a proper sun-drenching.  With 4 bedrooms, 3 bathrooms, 2320 sq ft, and a lot size just over 6700 sq ft, this same home in Menlo Park proper would set you back an extra $250K — at least — money that would buy years of private education.

Next up was Vincent Armando’s listing 433 8th Ave, a 3/2 with 1770 sq ft and a 5300 sq ft lot — standard in Fair Oaks.  The home was on the market last year during the doldrums and didn’t sell; the owner should have better luck this time.  Though quite modest from the outside, the inside was again a different story, with hardwood floors that may well have been done by the same craftsman as 657 10th.  Most surprising was the small pool in the back yard — a rarity in Fair Oaks — which unfortunately left not much of a back yard.

Lingering Appeal

Friday tour in Palo Alto wasn’t necessarily a big tour numbers wise (seems sellers aren’t moving or they’re still waiting to put their houses on the market) but it was a tour in which I felt like I wanted to linger.

First I wanted to linger at 293 Bryant Street ($839,000), a sophisticated 2Bedrm/2.5Bth Townhouse I knew was perfect for my traveling client. Freshly painted with an open floor plan – perfect for both everyday living and entertaining – this unit has an updated gourmet kitchen, fireplace and patio lined with mature trees and a beautiful camellia. It definitely felt like the Townhouse for “jet set lifestyle.” Check it out now, cuz it will be gone by Wednesday!

Then my touring companion and I moved on to 1319 Hopkins Avenue ($1,695,000) ($1,195,000 — ed; apologies to Ken DeLeon, the listing agent), a property situated down a long driveway and set next to a charming two story unit with two one bedrooms. I remember when this property went on tour last fall. It felt like an artist’s enclave to me. “Who,” I thought, “wouldn’t want to live here.” The home, over 1300 sf, has 2 bedrooms and 2 full updated bathrooms. The dining area overlooks the courtyard as does the gourmet kitchen with two windows that open out onto a bar perfect for spring, summer and fall yard parties. With hardwood floors throughout, the elegant living room has a fireplace for cozy gatherings. This house feels like a place where creative types and intellectuals might gather for wine tastings and dinners with delectable delights. Sadly we had to press on.

But gladly we arrived at a stunning Villa situated on 2061 Webster Street ($4,295,000). Pack my bags, I’m movin in. The colors… the flow of the floor plan. Oh my God! Standing in the entry way I slowing turned 360 degrees, imaging how the architect had imagined lines folding into lines. From the attention to detail from the curve of the staircase to the view from the tub in the master bedroom to the au pairs bedroom window in the basement, which looked out onto a square courtyard. No need to travel if you lived in this house.

Onward! We arrived at 514 Santa Rita Avenue ($2,295,000) – a meticulously maintained English Tudor home where care has been taken to preserve its original character. Memories… this house is all about creating memories and one’s own fairytales. I could barely make myself leave the upstairs with its three charming bedrooms and 2 baths. The front bedroom’s windows were opened out onto the front lawn and as I stood there, I imaged myself as the teenager of the house being courted by some handsome Romeo… And the bathroom with its tub – long enough for someone of my 5’11 stature to luxuriate in while looking up and out through the window framed by a tree and the rooftop next door, which at night might be covered with starlight.

Although not our final visit, the tour ended for me at 776 Barron Avenue ($1,495,000). Make an offer quick. Gone by Wednesday as well I’m sure. This 4 bedroom 2 bath home has wonderful interior and exterior lines for instant curb appeal. While there, I couldn’t decide if I wanted to stand in the remodeled gourmet kitchen, which opened into the family room and looked out through French doors to the pool and yard. Or should I stand in the master bedroom, which felt like I was away on vacation in France somewhere. Double French doors open out onto a secluded courtyard and I imagined myself sipping my Sunday morning coffee of Graffeo and ambling through the New York Times in a comfy bathrobe and slippers.

Since Friday’s tour I’ve pondered: what makes one want to linger – to remain or stay (as it is stated in the dictionary) on in a place, as if from reluctance to leave? I think it’s in part because homes have their own souls and essence. After all, they were made by people for people and it’s wonderful to walk into a home where I can feel the thought that has gone into creating good and peaceful energy. And to see the care that has been taken with the angles, color and design. You know when someone has loved their home; taken great care while they have dwelled there. And you can feel when an owner has made every effort to present their home in a way that will attract the next person who wants to take up residence. So here’s the thing with lingering; when putting your house on the market, don’t forget to consider Lingering Appeal.

Note: Images courtesy of mlslistings.com

Today’s Palo Alto homes review: Bait ‘n Switch, Bad Staging, Unresponsive Contractors, and Other Rants

Normally I take care of my daily frustrations through a vigorous workout at 24-hr fitness, but this time I thought I’d let my blog take the brunt of it.

You see, I spent a good part of this morning touring the new crop of properties available in Palo Alto (all of which will likely sell in a flash, with multiple offers, well above list price). You’d think that if I and dozens of my colleagues are going to take the time to go see what’s out there, the listing agents and sellers would give us something good to look at!

Alas, one of the first properties I went to, 797 Mayview in Palo Alto, was a “bait ‘n switch.” Looked good on paper, perhaps was good in reality…but the listing agent and her lockbox were AWOL, and the street sign said, “Don’t disturb.” Ok…you’re gonna put a property on the MLS, you’re gonna post the tour date…and then you’re gonna make the property inaccessible? Grrrr…. It was a shame, too, since this one has some potential: a large lot — big enough for two homes, in fact — and a great location with easy access to highway 101.

At least three properties were clearly competing for the Solstice Staging “Yikes, get these sellers a stager!” award. See for yourself the photos of this property:

For the other two, the listing agent (wisely, I think) chose not to post shots of the interior, and by a stroke of luck for the sellers, I had forgotten my camera.

Thankfully all was not lost, however. 281 Parkside (Charlene Geers of Coldwell Banker) and 1103 Stanford (Judy Levin and Lisa Blair, Alain Pinel Realtors) were both delightful, and well-presented to boot. The first is a bright, upgraded Eichler, adorned with skylights, and richly landscaped. The second is small and cozy, done up to the 9’s, but unfortunately garage-less since it was converted into an additional living space.

281 Parkside…

and 1103 Stanford

And now, back to my rant…

Will somebody please teach these guys how to answer a phone? Palo Alto Concrete is a local, well-respected construction company with a reputation for good work. Alas, neither I nor my clients will have a chance to test that bit of their reputation. You see, we asked them for a quote for some foundation work about, oh, 2 months ago. Took them nearly one month, plus innumerable phone calls to every number I had available for them, before we got the quote. Then it took another month to retrieve the plans they had borrowed — again, only after numerous phone calls. Guys, you might be busy, you might not have really even been interested in getting the gig…but at least GIVE ME A CALL DAMMIT!

There, I feel much better now.

Today’s Palo Alto and Menlo Park Properties: A Guard Tower to Ward off Marauding Athertonians

What better way to spend a balmy, sunny, spring day than viewing the new crop of homes to hit the market in Palo Alto? Come along for the ride as we explore the inventory, which, per our friends at Altos Research, is still tight, but improving.

First up was a stray Menlo Park property — “stray” because Menlo Park properties are normally on broker tour on Tuesdays, not Fridays — namely, 1026 Menlo Oaks in the Menlo Oaks/Flood Park neighborhood of Menlo Park. A retired fireman’s residence, this classic old 3/2 home sits on a 9000 sq ft lot, a size more commonly found south of Bay Road than north of it. The listing agent, Jeanne Wangsness of Coldwell Banker, has it listed at $1,047,000, and in this market it’s anybody’s guess what the winning bid will be, despite how close it is to the charming sounds of highway 101. Look at it this way: you’re paying $100,000 for the home, another $2000 for the quaint (but gas-burning) stove, and $945000 for the land.

From there it was on to Palo Alto and 2297 St. Francis, listed by local Coldwell Banker superstar Brendan Leary. Tragically close to highway 101 and Embarcadero — and priced accordingly at $925,000 — is a definite candidate for the cute award, with 2 bedrooms, 2 bathrooms and 1120 square feet. Detracting from its charm, however, is a somewhat unkempt back yard.

After popping by Intero Real Estate’s Lana Raltson’s listing at 290 Iris Way in Palo Alto, I mosied on over to see fellow Alain Pinel-er Arti Miglani’s listing at 3055 Stelling. Showing my softer side, I took time to coo over an adorable little 8-month baby whose mother was busy looking over the property. Listed at just under $1.2M, this 3/2 Eichler home has been well-looked after and nicely remodelled, maintaining some of the original charm. Typical of this style home, there is a partial wall separating the kitchen from the living area, but the kitchen has been redone with tasteful tiles, cabinetry, and appliances, and is well lit from both the large windows and door leading outside and the track lighting. Arti had thoughtfully provided a coffee cart service — a wonderful way to keep Realtors lingering longer at the property.

Then it was two quick stops at 3934 Nelson (Pat Miller, Alain Pinel) and 2590 Bryant (Tim Anderson, also Alain Pinel) — the latter a small home on a big yard, whose nearly-certain fate is to be torn down and built into a McMansion like the one currently being built 2 houses down.

Today’s pièce de résistance was definitely the last property I saw: 345 Lincoln Ave, a grand century-old Professorville home listed by the Carol/Rosemary/Nicole team (again — Alain Pinel!) For just under $5M, you get a 21000 sq ft lot (pretty rare in Palo Alto), an elegant 4000+ sq ft home, 6 (or more) bedrooms, two stories plus an attic — and thought I can’t speak for the listing agents, they would probably be happy to throw in a GPS so you can find your way around. The nicest touch of this property was undoubtedly the “guard tower” perched above the back of the house, extending up to a four-story house, surrounded by a wall of glass. A perfect place for a sundowner or a late afternoon nap, one imagines this tower would have been perfect for spying on those marauding Athertonians in the old days before peace broke out between the two neighboring towns.

Curious about the route I took? I didn’t think so…but here it is anyways.

Today’s Palo Alto Real Estate Gems

Undeterred by the light rain — and well-protected by bright yellow rain gear — I ventured out to sample a pick of today’s properties.
First up was a listing from the local real estate triumvirate of Carol, Rosemary, and Nicole of Alain Pinel at 1428 Hamilton Ave.  The home’s ranch-style exterior gives an undeserved first impression of blandness, an impression completely undone once you see the inside.  The living room, presumably an addition, uses skylights, light paint, recessed lighting, and the natural sunlight coming in from the French doors to give a large, warm, welcome feel.  A little office cottage in the back went unvisited, alas — I had left my shoes at the front door — but I did take the time to check out the basement, an unusual enough feature of Bay Area homes that they always warrant a visit.

Bob and Lori Ann Wolff of Coldwell Banker’s entree at 1295 Wilson, also in Palo Alto, is one of those classic “they just don’t build ‘em like that any more” Victorians with a 112-year old history.  The inside is as true to form as the outside, with wooden staircases, a charming attic, storage nooks, a jack-and-jill bathroom.  The original owner took a picture of the home in all its Palo Alto farmland glory which has remained with each subsequent owner, and will pass on to the next lucky owner as well.

After seeing a few other properties, my last one was a contemporary listing in downtown Palo Alto by Alan Dunckel (Alain Pinel Realtors).  Situated at 334 Hawthorne and designed by local architect David Solnick it is sleek and well-lit, with all the creature comforts of a contemporary:  recessed lighting, open plan granite-counter kitchen, and snazzy bathroom fixtures.  If you’d like a look, drop by this afternoon (Feb 9, 2007) from 5pm to 7pm for Alan’s cheese and wine soiree.

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