The Oakland A’s officially ended their courtship with the City of Fremont to relocate and build a new baseball stadium in the southern Alameda County city. Lew Wolff, owner of the A’s, sent a letter to the Fremont City Council on Tuesday ceasing his bid to bring the A’s to Fremont. The A’s faced intense opposition at both of its proposed stadium locations in Fremont. Wolff indicated that the opposition could potentially lead to unacceptable delays in construction of the ballpark, which he hoped to have completed in time for the 2011 or 2012 season.

Now that plans to relocate the A’s to Fremont appear to be over, let’s hope Lew Wolff is on the phone with Mayor Chuck Reed to talk about bringing the A’s to downtown San Jose.

A month and a half into this new year and there are already plenty of peaks and valleys. The California legislature finally got the budget impasse resolved and President Obama unveiled a new $75 billion mortgage relief plan. The plan, in essence, is designed to help homeowners avoid foreclosure thereby shoring up the real estate market. In turn, the economy would get a boost from a strengthened real estate market. It all sounds good. Let’s hope it plays out the way its supposed to.

While we are on the topic of foreclosures, let’s take a peak at how the month of January fared in downtown San Jose. January is typically a slower month in terms of closed sales since the preceding month of December includes the holidays, a time when most people are shopping for Christmas presents and not necessarily shopping for real estate. The number of closed transactions didn’t change much from December 2008 to January 2009, but the median sales price and total sales volume both declined. Total dollar sales volume dropped 35% in January 2009 despite there only being two less sales than in December 2008. An even more noticeable decline appears when comparing sales statistics from January 2009 to the same time period last year, January 2008. This past January finds a 43% decline in total sales volume from January 2008 despite again only having two less closed transactions.

So why the big decline in sales volume over a two month period and when comparing year-to-year? Not surprisingly, its the foreclosures! Bank-owned properties accounted for half the closed transactions in January 2009. In addition, the four lowest priced transactions during the month were foreclosed properties. In January 2008, the lowest priced home sale was $255,000. One year later, half the transactions closed under $260,000 in January 2009. Just a sign of times.

Reminder: The following statistics represent resales of Central San Jose’s (MLS Area 9 which includes downtown San Jose) condos, townhomes, and lofts. As noted in past statistical postings, these numbers may not include sales from new construction developments. New developments may or may not provide information to the MLS.

*The above statistics are generated using information from the MLSListings, Inc. (formerly RE InfoLink) MLS, but have not been verified and are not guaranteed. MLSListings, Inc. disclaims any resposibility for the accuracy and reliability of these statistics. This information should not be relied upon for real estate transaction decisions.

The San Jose Downtown Residents Association (SJDRA) will be holding an evening social this Thursday evening, February 19, at Flames Coffee Shop from 7:00pm to 8:30pm. The evening social is a great way for downtown neighbors to meet each other as well as discover new downtown businesses. A few notable guests scheduled to attend this month’s evening social include new City Council member Ash Kalra (District 2) and City of San Jose Downtown Coordinator Lee Wilcox. All those attending the SJDRA evening social will also get a 10% discount on menu items.

SJDRA Evening Social
Thursday, February 19, 2009
7:00pm - 8:30pm
Flames Coffee Shop
88 S. 4th Street (corner of San Fernando and 4th Street)
Downtown San Jose

Upcoming SJDRA Events:

SJDRA Evening Social at Caffe Trieste
March 19, 2009, 7:00pm - 8:30pm
Caffe Trieste
315 S. First Street (next to Original Joe’s)
Downtown San Jose

SJDRA Spring Quarterly Meeting
April 16, 2009, 7:00pm - 8:30pm
San Jose Athletic Club
196 N. 3rd Street
Downtown San Jose

Two important meetings are coming up to discuss the proposed San Jose Public Market in San Pedro Square. The first meeting is the Peralta Action Plan Stakeholder meeting on Thursday, February 19, 5:30p-7:00p, at City Hall. The stakeholder meeting is being held by the Redevelopment Agency and is an opportunity for community members to voice their opinions about the proposed public market development. Next Tuesday, February 24, the San Jose City Council is scheduled to once again vote on the planned San Jose Public Market.

The San Jose Public Market is viewed as an important tool to continue the revitalization of downtown San Jose and to create a vibrant, urban core. The San Jose Public Market would develop a significant neighborhood in downtown San Jose focused around an open-air retail market and restaruants.

As part of the Peralta Action Plan, the San Jose Public Market is planned to be an open-air market similar to Pike Place Market in Seattle and the Ferry Building Marketplace in San Francisco. The proposed San Jose Public Market plan would be located at the north end of San Pedro Square and encompass the the historic Peralta Adobe and Fallon House.

Peralta Action Plan Stakeholder Meeting
Thursday, February 19, 2009
5:30p - 7:00p
San Jose City Hall
200 E. Santa Clara Street, 10th Floor, Room 1047
Downtown San Jose

For more information, call (408) 279-1775, ext. 28 or view the meeting notice here.

City Council Meeting re San Jose Public Market
Tuesday, February 24, 2009
San Jose City Hall
200 E. Santa Clara Street
Downtown San Jose

Click here for the City Council agenda.

Happy President’s Day! I hope you all had a fantastic Friday the 13th and Valentine’s Day. What a trifecta weekend it is with Friday the 13th, Valentine’s Day, and President’s Day all on the same weekend. Plus, this weekend is finally bringing us some much needed rain. I don’t much like the rain (people forget how to drive when it rains) but we definitely need it. And rain or shine, the Amgen Tour of California cycling race will be speeding through the streets of downtown San Jose on Tuesday, February 17.

The largest cycling race in the country, the Tour of California will kick off Stage 3 of the 750-mile course in downtown San Jose, through the East Foothills and the challenging Calaveras Road, before it races off down to Modesto. Overall, Stage 3 will stretch 104.2 miles from San Jose to Modesto. The start line for Stage 3 begins at San Fernando and Almaden Boulevard. The cyclists will race up Almaden, take a right at Santa Clara, then down Market Street towards Plaza de Cesar Chavez Park. After going around Cesar Chavez Park, the racers turn left at Park Avenue on the corner of the Tech Museum before turning back on to Almaden. After a few loops around downtown San Jose, the cyclists will race up 2nd Street and leave downtown San Jose. See the full map here.

The Tour of California is a Tour de France style cycling road race featuring the world’s top cyling teams. The race starts with a prologue in Saramento and ends in Escondido. The entire race stretches 750 miles beginning on Feburary 14 and end on February 22. Last year, Stage 3 began in Modesto and ended in downtown San Jose. This year, Stage 3 is reversed with the start line in downtown San Jose and the finish in Modesto. Stage 3 starts at noon at San Fernando and Almaden Boulevard.

Amgen Tour of California - Stage 3
Tuesday, February 17, 2009
Start Line at San Fernando and Almaden Blvd.
Start Time at 12:00 Noon
Stage 3: San Jose to Modesto

In the San Jose Mercury’s January 29th “Eye” Entertainment Guide, Amy Pizzaro rates the best places for happy hour in downtown San Jose. If you are meeting up with co-workers, friends, or just grabbing a quick drink or appetizer before you head on home, downtown San Jose has a variety of fantastic happy hour spots. There is something for everyone whether you are looking for a hip ultra-lounge, upscale restaurant, or a hole-in-the-wall dive bar. Below are Amy’s picks for her favorite happy hour spots. Share your favorite downtown happy hour destinations and tell us why!

Best Drinks:
E&O Trading Company
96 S. First Street, Downtown San Jose
Happy Hour: M-F 3:00p-7:00p

Best Food:
The Grill on the Alley
172 S. Market Street (Fairmont Hotel)
Downtown San Jose
Happy Hour: M-F 5:00p-7:00p

Best Newcomer:
Mezcal
25 W. San Fernando Street
Downtown San Jose
Happy Hour: M-F 3:00p-6:00p

Best Value:
McCormick & Schmick’s
170 S. Market Street
Downtown San Jose
Happy Hour: M-F 4:00p-6:00p
Late Night Happy Hour: M-Sat 10:00p-12:00a

Best Hidden Gem:
San Pedro Square Bistro & Wine Bar
20 N. Almaden Avenue
Downtown San Jose
Happy Hour: M-F 5:00p-7:00p

Best Atmosphere:
Billy Berk’s
99 S. First Street
Downtown San Jose
Happy Hour: M-F 3:00p-6:00p

The St. James Historic District Neighborhood Association (SJHDNA) is holding its annual “Fun and Fellowship” event in conjunction with its general meeting on Monday, February 9, from 6:30p to 8:30p at Trinity Episcopal Cathedral. The Fun and Fellowship event is a dinner sponsored by the SJHDNA and a great opportunity to meet neighbors who live in the St. James Historic District and in downtown San Jose. Featured guest speakers for the annual gathering are Sam Liccardo, District 3 Councilmember, and Leslie Parks of the San Jose Redevelopment Agency. Liccardo will provide an update on the proposed renovations at St. James Park and other news going on in District 3. Parks will speak about the current and future projects occuring in downtown San Jose. In addition, representatives from the San Jose Police Department will be in attendance to address neighborhood concerns and safety issues.

The SJHDNA is sponsoring a Hawaiin barbeque dinner. All residents are welcome and encouraged to attend! Please bring a side dish or dessert to share with your neighbors!

St. James Historic District Neighborhood Association (SJHDNA)
“Fun and Fellowship”
Monday, February 9, 2009
6:30p - 8:30p
Trinity Episcopal Cathedral
81 N. 2nd Street
Downtown San Jose