This weekend's featured open home is 377 Stockbridge Ave in Atherton. Hosted by Ali Faghiri of Alain Pinel Realtor's Menlo Park Office, this 6bd/6.5ba home features 8897+/-sf of living space. New construction in the Old Spanish Colonial style. Open this Sunday from 1:30-4:30 pm.

By now you have probably heard the news that existing home sales sank 27.2% nationally in July, attributed in large part to the end of the homebuyer tax credit. While the U.S. forecast isn't great, California and the Bay Area are doing better than the national averages, especially at APR where we are up over 2008, which was generally considered a stronger year for real estate. Currently, we have year-to-date closed dollars 5.5% above 2008, and are 28% above 2009. So remember that all real estate is local, and the national forecast doesn't ...

This weekend's featured open home is 15305 Suview Drive in Los Gatos. Hosted by Joe Piazza of Alain Pinel Realtor's Los Gatos office, this 4.31+/-ac lot offers spectacular valley and city light views. Private gated community. Approved plans for 5600+/-sf, 4bd/4.5ba Tuscan villa plus separate guest suite and 3-car garage. Room for pool, stables, sports court and vineyards. Los Gatos schools. Open this Saturday and Sunday from 1:00-4:00 pm.

Short sales, sales of homes for less than the amount of their outstanding mortgage debt, have tripled since 2008, particularly in California, according to a recent article in the Los Angeles Times. The number of transactions had risen to more than 160,000 in 2009 from roughly 96,000 the year before, with more than a quarter of the transactions occurring in California. The increasingly common transactions are projected to rise to 400,000 in 2010, and such sales will likely remain routine as the mortgage industry attempts to stabilize.

This weekend's featured open home is 5341 Blackhawk Drive in Blackhawk. Hosted by Sharon Barr-Day of Alain Pinel Realtor's Danville/Blackhawk office, this custom estate features a remodeled kitchen with Wolf gas cook top, granite slab and Sub Zero fridge. Office on first floor and 5th bedroom could be used as bonus room. Custom 4-car garage. 0.39+/-ac lot borders golf course with views of hills and lake. Open this Sunday from 1:00-4:00 pm.

The median value of homes in Santa Clara County was up 7.3 percent to $600,800 from April through June, and San Mateo County was up 2.5 percent to $655,800, according to a recent article in the San Jose Mercury News. Other local market news includes: Median home values in Santa Clara County have increased every quarter for the past year Median home values in San Mateo County have increased for the past two quarters Median home values in Santa Clara, San Jose, Mountain View and Redwood City were up over the year On the national level, ...