Would you believe that you can find a place in Palo Alto for under $100,000? Yes, it’s true. Under the Below Market Rate Program, a buyer purchased a 2 bedroom 1-1/2 bath residence for $98,800 back in April 2007. However, to be a qualified buyer, you must meet the Palo Alto Housing Corporation’s income and asset limits. So, what’s the catch?
With a deal this good, you have to join a long waiting list. Palo Alto Housing Corporation estimates a wait of 5 to 10 years or more for people currently seeking to join the wait list. If you are fortunate to be given the opportunity to purchase a residence under this program, well, there’s good news and bad news.
The good news is that if you finance with a 30-year fixed-rate mortgage, you can lock down your housing costs. You won’t be subject to changes in the general housing market, including interest rate fluctuations or annual increases in rent. The bad news is that unless you manage to dramatically improve your finances, you will not be moving out anytime soon. If you ever have to move, you do not benefit from the current market rate of housing in Palo Alto. Instead, you must sell to another Below Market Rate buyer at a price indexed to the Consumer Price Index (CPI). Buy low, sell low.
I stopped by the Palo Alto Airport Day festivities this afternoon. I saw quite a few small planes on display, as well as helicopters from the Santa Clara County sheriff, U.S. Coast Guard and Stanford Hospital. The San Francisco Bay Area offers many fun activities and events. Many charge admission, but some are free. I really enjoyed the visit to the Palo Alto Airport. Wish I had time to join the Palo Alto airport tower tour though.
I stopped by Sushi House in the Palo Alto Town and Country complex for lunch today. I saw some respectable reviews on Yelp and decided to give it a shot. I ordered the tempura and salmon teriyaki bento box with a side order of hamachi (yellowtail). The hamachi and tempura were good. The miso soup was exceedingly salty. Wasn’t a big fan of the salad. I don’t think the dressing was well incorporated so some bites were seasoned and others were just plain lettuce. But, worse of all, the salmon teriyaki was overcooked. I don’t like dry, overcooked fish. And, to top it off, they charged me 75 cents for a cup of tea. C’mon. Do you really have to nickel-and-dime me on the tea? Let’s say that while the tempura was good, it wasn’t good enough to overcome the overcooked fish. 
Had lunch at Mike’s Cafe in Palo Alto yesterday. I usually don’t order a salad for lunch (except as a side dish) because I don’t want to be hungry in the middle of the afternoon. But, being in an experimental mood, I tried the Cobb Salad—which I have never ordered before at any restaurant. That experimental!
Anyways, the Cobb Salad featured a bed of fresh, crisp lettuce tossed with dressing. On top were slices of hard-boiled egg, feta cheese, chicken breast, tomatoes and crumbled bacon. I also tasted a hint of anchovies, but I didn’t see them. Maybe they were mixed in with the bacon or I was just imagining these flavors. Despite being just a salad, I found this dish quite filling. It keep me full through the afternnon and well into dinner time.
However, I discovered that I wasn’t a fan of cold chicken breast. I can handle deli-sliced chicken breast, like the kind found in sandwiches, but chunks of cold chicken wasn’t my thing. Also, a few weeks ago, after I bought some Cherokee Purple heirloom tomatoes at the Farmers Market, regular tomatoes have tasted “just regular” since.
Despite my above comments, I still think this was a good, solid, filling salad.
Palo Alto Online reported that the city utility will be raising water rates.
The commission also recommended raising water rates by 10 percent to generate $2.2 million. A fixed charge of $5 per residence and more for businesses would also be added that is not based on water usage, according to a staff report. Additional money is needed because less water is being used due to efficiency and the loss of large customers. Supply, operating and staff costs continue to increase, however, according to the staff report.
So, if you use a lot of water, your rates will go up. And, if you conserve water, your rates will still go up. Either way, you’ll end up paying more. So, the next time they send you a flyer about conservation, you know where to file it.
