Palo Alto, CA Real Estate News

By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Here are quick tips for an online real estate search made simple.  The vast majority of home buyers now begin looking for a home by searching online.  So do many real estate investors, especially those who invest in residential rental properties – both single and multi-family.  The real estate industry has responded by providing a wide range of search tools and web sites.  The sheer volume of information sources can be overwhelming, so let’s navigate through the dense jungle and fog of information to simplify our online search to make it easier and more productive.   Online Real Estate Search Tip #1: Understand Your Needs Whether you’re looking for a home or an investment property, begin by deciding what you “must have”, “would like to have” and “will not have.”  I prefer to create two ...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Palo Alto homes for sale under $1M make up just a small part of all properties for sale in town on any given day under present market conditions.  Currently they are about 25% of all homes for sale. The supply of Palo Alto homes for sale under $1M is not keeping up with demand.  This is generating a leap in home prices and significant competition among buyers.  Sellers of homes in good locations are receiving multiple offers within hours of placing their homes on the market.  Buyers are finding that they need to submit creative offers to compete with cash buyers and others who can close escrow quickly or offer other types of incentives to make their offer more competitive. Click on >>> Palo Alto homes for sale under $1M <<< to view listings of Palo Alto homes for sale under $1M.  Click ...
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
As a Palo Alto Real Estate Agent I am always being asked, "How's the market in Palo Alto?" The answer is simple: Not enough inventory, plenty of buyers. There are currently 26 single family Palo Alto homes for sale up from 24 last week. There are currently 8 Palo Alto town homes/condos for sale, up from 5 last week. There are currently 41 pending sales of Palo Alto single family homes, down from 44 last week. There are currently 12 pending sales of Palo Alto Town homes/Condos, up from 11 last week. In April of 2013 there were 46 single family Palo Alto homes sold, about 50% more than in March. The prices ranged from $1,050,000 to $10,000,000. No homes under a million is significant. In April of 2013 there were 9 Palo Alto Town Homes/Condos sold, down 3 from March.  The prices ranged fro...
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
Anyone shopping for a home in Palo Alto knows that it is a seller's market. The inventory is low, and there are a lot of other buyers out there looking for the perfect home at a great price.    The market is still active and you may only have a week to find a home, make a decision about whether you want to make an offer, and then try to make a strategy to make the offer for your dream home in Palo Alto.   This fast paced real estate market in Palo Alto can cause a great deal of stress and angst. Feeling pressure to make quick decisions can be frightening. Loosing offers on homes can be frustrating.    I can't tell you what home deserves your offer, or how much it will take to for sure get your dream home in Palo Alto, but I can give you a little perspective that will helpfully help bri...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Brokers are often asked if a market is “hot.”  When I was asked about one of our local markets yesterday – and whether or not it is “hot” – I had to think for a moment.  “Hot” is one of those terms seen through “the eye of the beholder.”  So, instead of giving a yes or no answer, here’s how I described the market in question. For sellers, this market is definitely hot.  Demand is high and there are very few properties coming on the market, so sellers offering well located properties with attractive features and in good condition are in the driver’s seat.  They can jack up their asking price without having to worry about comparable appraisal values because there are a lot of cash buyers in the market willing to pay more than “market value.”  Sellers can demand ridiculous terms and condit...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
The Palo Alto luxury home sales report for April 2013 reflects a very strong market throughout Silicon Valley.  Homes priced or sold above $3M (luxury homes) are moving briskly and price escalations are expected throughout the remainder of the year. Today, six of the nine Palo Alto luxury homes active on the market (not in escrow) have been listed than 30 days or less.  Two have been listed for less than 60 days.  The only home on the market for an extended period is the one short sale listed at $4,500,000.  Of the six luxury homes now in escrow, four were on the market less than two weeks, one was on the market about two and half months and one was on the market six months.  Given that there are always a few properties that will sell slowly under any market conditions, it appears that ...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Palo Alto downtown condos for sale are not plentiful right now.  There are few downtown homes of any type on the market, including condos or single family homes in any price range. The three Palo Alto downtown condos for sale today are all in the same complex – the luxury building at 555 Byron Street.  This complex, located between University and Hamilton, is an easy walk to everything downtown.  There a forth unit for sale in this building, but it is already in escrow. Here are Palo Alto downtown condos for sale as of April 30, 2013.  Click on a property’s Address to view photos and detailed information.   555 BYRON ST #306, PALO ALTO, CA 94301   $1,198,000 Bedrooms: 3Bathrooms: 2 full | 1 partialSq. Ft.: 1,825     555 BYRON ST #206, PALO ALTO, CA 94301   $1,100,000 Bedrooms: 3Bathroom...
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
As a Palo Alto Real Estate Agent I am always being asked, "How's the market in Palo Alto?" The answer is simple: Not enough inventory, plenty of buyers. There are currently 24 single family Palo Alto homes for sale down from 30 last week. There are currently 5 Palo Alto town homes/condos for sale, down from 11 last week. There are currently 44 pending sales of Palo Alto single family homes, down from 45 last week. There are currently 11 pending sales of Palo Alto Town homes/Condos, up from 6 last week. In March of 2013 there were 28 single family Palo Alto homes sold, twice as many as in Feb.,  ranging in price from $859,000 to $7,650,000. This is a much broader price range than in Feb as well. In March of 2013 there were 12 Palo Alto Town Homes/Condos sold, 3 times as many as in Feb., ...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
There are four condos for sale under $700K in Palo Alto this week, a small share of the total 50 single family homes and condos currently on the market.  There are no single family homes available under $700,000. The Palo Alto housing market continues to lead Silicon Valley in terms of demand and price escalation.  Very few affordable homes are offered for sale, making condos the most attractive and affordable option. Here are the condos for sale under $700K in Palo Alto as of April 25, 2013.  Click on a property’s Address to view photos and detailed information.   572 VISTA AV, PALO ALTO, CA 94306   $650,000 Bedrooms: 2Bathrooms: 2Sq. Ft.: 1,109 Open House on Saturday, Apr 27, 2013 1:00 PM - 4:00 PM     321 POE ST, PALO ALTO, CA 94301   $649,000 Bedrooms: 1Bathrooms: 1Sq. Ft.: 678     ...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Palo Alto residential land for sale is scarce as general inventory of homes in the area are leading Silicon Valley’s housing market recovery.  Very few single family lots have come on the market, driving many who would like to build a custom home in Palo Alto to buy tear-downs and rebuild.  If you’re looking for a home site to build on in Palo Alto – tear-down or an empty lot – we can help. Here is Palo Alto residential land for sale as of April 24, 2013.  Click on the property’s Address to view detailed information and photos.  Both these properties have been on the market for several weeks and present unique opportunities for custom development.   0 LOS TRANCOS RD, PALO ALTO, CA 94304   $12,500,000 - approx. 5.42 acres     0 PAGE MILL RD, PALO ALTO, CA 94304   $3,890,000  - approx. 20...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Silicon Valley luxury homes and estates are some of the most expensive luxury homes in California, if not the entire United States.  Mid-priced luxury homes are selling moderately, but ultra-luxury homes priced above $10M continue to move slowly. Click here >>> Top 10 Silicon Valley luxury homes <<< for the list as of April 24, 2013.  View photos and details by clicking on a property’s Address. Homes and estates were selected per their current listing price alone, as featured in the Silicon Valley local MLS on this date.  Each property has unique features that a potential buyer may find of greater or lesser value based upon individual needs and tastes. Contact us  to schedule a viewing of Silicon Valley luxury homes.  Presentation of written purchase qualifications may be required prior...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Residential property owners know that problem tenants will always be with us, which is why our Palo Alto property management services include leasing and general management, plus specific solutions to common, but difficult, tenant problems. Problem tenants are a significant drag on management resources.  In addition to often causing significant property damage, they also drive off good tenants in a multi-family facility.  No amount of screening will eliminate them completely, but addressing problems early can reduce their negative impact on operations and profitability.  We offer these Palo Alto property management services to do just that:    ·   Regularly scheduled inspections1 - Quarterly, semi-annual, annual    ·   Special inspections1: in response to tenant or neighbor complaints, ...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Despite this article’s title, it’s not one of those home selling tips about yard maintenance.  It’s about preparing for your home sale in a way that may be a bit more difficult than replacing a few boards or slapping on a coat of paint. When you put your home on the market, potential buyers will look not only at the home, but also the schools, public transportation, parks, and other local features.  They will look at other homes on the block to see if they are well cared for and demonstrate a shared pride of ownership.  More astute buyers will seek out information about neighbors, wanting to know if there are any who are habitual problems due to loud parties, frequent late night traffic, junk in the yard, or other “un-neighborly” behavior.  Some buyers will walk the street and speak wi...
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
As a Palo Alto Real Estate Agent I am always being asked, "How's the market in Palo Alto?" The answer is simple: Not enough inventory, plenty of buyers. There are currently 30 single family Palo Alto homes for sale down from 33 last week. There are currently 11 Palo Alto town homes/condos for sale, up from 7 last week. There are currently 45 pending sales of Palo Alto single family homes, up from 40 last week. There are currently 6 pending sales of Palo Alto Town homes/Condos, the same as last week. In March of 2013 there were 28 single family Palo Alto homes sold, twice as many as in Feb.,  ranging in price from $859,000 to $7,650,000. This is a much broader price range than in Feb as well. In March of 2013 there were 12 Palo Alto Town Homes/Condos sold, 3 times as many as in Feb.,  ra...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Today’s home selling tip could have also been shared in my “Real Estate Jargon” series, but since I’m getting questions from mostly sellers on this topic, this is as good a time to talk about why “sold is not closed.” Let’s use today’s home selling tip to penetrate the veil of real estate industry gobbledy-gook and look at just a few terms that have very specific meanings and represent significant milestones in a sale. Listed.  A property becomes listed on a specific date identified in the listing agreement with the listing broker.  If you’re in California, that would be Section 1 of CAR Form RLA.  Unless the broker is instructed otherwise, the broker is authorized to begin publically marketing the property on that date.  Point of clarification:  If you sign an agreement on December 1st...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Inventory of Palo Alto homes for sale is currently 44 single family homes and condos on the market and 53 sold and in escrow. Of the 44 homes that closed escrow in March, 10 homes sold at or below their listing price, 1 home withheld reporting its sale price, and 33 sold above their listing price. Of the Palo Alto homes for sale at this time, there are no foreclosures and no short sales. Click here >>>Palo Alto home sales March 2013<<< to view the list of homes that closed escrow in March. Contact Us for more information on Palo Alto homes for sale or to search the local Santa Clara County MLS. ---------------------------------------------------------------------------- John A. Souerbry & Associates      Tel (650) 815-6182      (DRE 01370983)   
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By MichelleCherie Carr Crowe .Just Call. 408-252-8900, Family Helping Families Buy & Sell Homes 40+ Years
(Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty)
Celebrating World Heritage Day in Silicon Valley April 18, 2013 By Michelle Carr Crowe, Silicon Valley guide and Cupertino real estate agent selling homes in San Jose World Heritage Day, held annually on April 18, is a time to honor and care for culturally important natural and man-made structures and sites. The idea was for the event was first approved in UNESCO’s General Conference in November 1983. International Monuments and Sites Day has been traditionally referred to as World Heritage Day. The day celebrates the diversity of heritage throughout the world.  While the United States boasts 21 different UNESCO World Heritage Sites, only 2 are located in California: Yosemite National Park  and Redwood National and State Parks, just north of San Francisco. Silicon Valley residents can s...
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By MichelleCherie Carr Crowe .Just Call. 408-252-8900, Family Helping Families Buy & Sell Homes 40+ Years
(Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty)
8 Unusual and Unique World-Changing Facts That Happened on April 18 By Michelle Carr Crowe, Silicon Valley real estate guide selling homes in San Jose What do Paul Revere, Joan of Arc and the First King of Polard have in common? All 3 share an important anniversary today, April 18, 2013. Are you an inquisitive person who enjoys learning? If you’ve read my blog, you know one of the pastimes I enjoy is discovering new facts and interesting pieces of history. I like to share intriguing stories from our local newspaper the San Jose Mercury News, as well as my favorite print and online magazinesMental Floss, the National Geographic Society or  Smithsonian Magazine. Other times I find articles or facts online at  The History Place, Brainy History,orDates In History.These events for today’s bl...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Our home selling tip for today focuses on that green patch on the exterior of some homes that we’ll generously call a lawn.  We see them in every neighborhood – otherwise healthy expanses of deep, healthy grass turned unsightly by slender shoots of interloping flora interspersed within.  Big weeds that may go dormant off season, but in the spring grow big and flower, blasting pollen and their dreaded seedling spawn into the breeze to land on other healthy lawns in the neighborhood and turn them quickly into ugly weed patches, too. Many home sellers assume that a weekly shave with the mower will keep weeds down to grass level and make them disappear.  But it doesn’t work.  Those weeds get right back up again and flower within days.  There is only one sure cure: weed killer. I’m not goin...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
I announced this workshop earlier in the week, just want to share the flyer now that it's out.  Please forward to anyone in the San Francisco Bay area who might be interested.  Live links to click on for more information and registration are at the bottom of the page. Here's the link to my interview with the Silicon Valley Business Journal today, re: agent safety and agent self defense: http://www.bizjournals.com/sanjose/news/2013/04/17/for-realtors-the-dark-side-of-selling.html Thanks!  John More information:  Santa Clara Kenpo Academy or SaferAgent Workshop Registration:  http://realestatesafety1st.eventbrite.com  
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