Palo Alto, CA Real Estate News

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 18 single family Palo Alto homes for sale down from 28 last week. There are currently 8 Palo Alto town homes/condos for sale, the same as last week. There are currently 31 pending sales of Palo Alto single family homes, up from 23 last week. There are currently 11 pending sales of Palo Alto Town homes/Condos, up from 10 last week. In Feb of 2013 there were 14 single family Palo Alto homes sold ranging in price from $1,670,000 to $3,100,000. In Feb of 2013 there were 4 Palo Alto Town Homes/Condos sold ranging in price from $900,000 to $1,706,000. the trend, few sales, higher prices since Jan.    These numbers are stil...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Buyers, sellers, investors, welcome back to another installment of Real Estate Jargon, aka, simple explanations of not-so-common real estate terms.  Today, we’re going to discuss a term that’s used a lot by real estate brokers, appraisers and lenders when property values are going through periods of significant change:  “breaking comps.” It’s been said that there is one prediction that can be made with 100% certainty regarding the future of the real estate market, stock market, commodities market – any free market involving buyers and sellers.  That prediction is:  the market will fluctuate. What happens when a local real estate market rises and we want to offer a property for sale at the highest price that market can support?  In classical valuation theory, we shouldn’t value a proper...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Buyers, sellers, investors, welcome back to another installment of Real Estate Jargon, aka, simple explanations of often confusing real estate terms.  Today, we’re going to look at the meaning of “personal property” as it relates to a real estate sale. Items found on a piece of land are most commonly referred to as either “real property” or “personal property.”  Real property is the land itself and the improvements built on it, such as a house, garage, barn, swimming pool, or anything considered “attached.”  Personal property is, therefore, anything “not attached.”  Or is it?  More than one buyer has been burned by a bad assumption regarding what is real or personal property and what is or is not included in a sale.  So, let’s look at some examples of items that could go either way.  Le...
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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 28 single family Palo Alto homes for sale up from 26 last week. There are currently 8 Palo Alto town homes/condos for sale, up from 7 last week. There are currently 23 pending sales of Palo Alto single family homes, up from 19 last week. There are currently 10 pending sales of Palo Alto Town homes/Condos, up from 9 last week. In Feb of 2013 there were 14 single family Palo Alto homes sold ranging in price from $1,670,000 to $3,100,000. In Feb of 2013 there were 4 Palo Alto Town Homes/Condos sold ranging in price from $900,000 to $1,706,000. the trend, few sales, higher prices since Jan.    These numbers are still low...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
This week, there are six Northern Silicon Valley REO foreclosure homes for sale.  The northern Silicon Valley area includes the communities of Atherton, Menlo Park, Portola Valley, Woodside, Palo Alto, Los Altos/Los Altos Hills, Mountain View and Sunnyvale. Here are Northern Silicon Valley REO foreclosure homes for sale as of March 2, 2013.  Click on a property’s Address to see photos and detailed information.     443 OCONNOR ST, MENLO PARK, CA 94025   $1,147,125 Bedrooms: 5 Bathrooms: 3 Sq. Ft.: 2,225       2259 WYANDOTTE ST, MOUNTAIN VIEW, CA 94043   $945,330 Bedrooms: 4 Bathrooms: 3 Sq. Ft.: 1,610       1480 LA HONDA RD, WOODSIDE, CA 94062   $799,000 Bedrooms: 3 Bathrooms: 2 Sq. Ft.: 1,710       415 8TH AV, MENLO PARK, CA 94025   $650,000 Bedrooms: 2 Bathrooms: 2 Sq. Ft.: 780       2...
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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 February 28 By Michelle Carr Crowe, Silicon Valley real estate guide selling homes in San Jose 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 magazines Mental 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 blog post are primarily from Wikipedia. While these interesting items are intriguing, they have nothing to do with my real estate busine...
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
If you are a Mountain View condo seller which do you think is riskier for you, not the buyer, taking an offer with a loan contingency, or taking an offer for your Mountain View condo for sale with an inspection contingency? This question pre supposed several givens: 1. You have multiple offers from which to choose 2. The buyer has been fully pre-approved by a direct lender, is from this country or has the legal status necessary to obtain a loan, and did not ask for an appraisal contingency. 3. You have done all of the inspections on your Mountain View condo before the sale including property, termite, roof, chimney, and have all of the HOA documents. So assuming all of the above conditions have been met, and you have several offers which are around the same price, which would you prefer...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Buyers, Sellers, investors, welcome back to another installment of Real Estate Jargon, aka, simple explanations of often confusing real estate terms. Compensation to real estate Brokers resulting from a real estate sale is typically a commission paid by the Seller upon completion of the transaction.  However, here in California, the standard California Association of REALTORS® Residential Listing Agreement (CAR Form RLA) states in Section 29: “If applicable, upon Close of Escrow, Buyer agrees to pay compensation to Broker as specified in a separate written agreement between Buyer and Broker.” The terms of this written agreement are usually documented in a standard form titled Commission Agreement (CAR Form CA). Why would a Buyer agree to pay her Broker separately, rather than following...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Buyers, sellers, investors, welcome back to another installment of Real Estate Jargon, aka, simple explanations of sometimes confusing real estate terms.  Today, we’ll look at the sometimes confusing definitions of listing and selling agents in real estate transactions. When we sell our home, we typically seek out a licensed real estate professional to “list” our home on the local Multiple Listing Service (MLS).  The term “list” is an action verb that has its roots in the practice of adding our home to a list of properties for sale by the broker we hired.  Some time ago, the list became “multiple” when brokers began circulating their lists (also called “listing books”) among all the brokers in the area to generate maximum exposure of the properties available for purchase.  This central ...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Home buyers often look at dozens of homes during their property search.  In post-purchase surveys, most buyers say that the home they ultimately bought met their basic selection criteria and was one “they could see themselves living in.”  As sellers, we can take that intangible “see themselves…” and solidify it with an open house photo opportunity. Virtually every home has a unique feature that “sells the house.”  It could be a large wooden deck from which the owner can see miles of Napa Valley vineyards as he sips coffee and reads the paper in the morning.  Or perhaps a large, professional-grade kitchen with new Viking appliances that come with the home.  Or master bedroom suite with a walk-in closet as big as Texas.  While an agent can’t always predict which features might connect wit...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Buyers, sellers, investors, welcome back to another installment of Real Estate Jargon, aka, simple explanations of sometimes confusing real estate terms.  Today, we’ll look at an important feature of real estate contracts that determines when you actually get the keys to a new home: “closing and possession.” Buyers and sellers often assume that in a real estate sale “closing and possession” naturally occurs at the same time.  This is not always true, so let’s look at why and what options could be available for different situations.  We’ll assume that our example sale takes place in California and that we will be using standard California Association of REALTORS® (CAR) forms for the purchase contract.  If you’re not in California, please just try to follow the key concepts. First, we ne...
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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 7 Palo Alto town homes/condos for sale, the same number as last week. There are currently 19 pending sales of Palo Alto single family homes, up from 14 last week. There are currently 9 pending sales of Palo Alto Town homes/Condos, the same as last week. In Jan of 2013 there were 14 single family Palo Alto homes sold ranging in price from $1,999,000 to $6,500,000. In Jan of 2013 there were 7 Palo Alto Town Homes/Condos sold ranging in price from $500,000 to $938,000   These numbers are still low, but a little better than last week. I...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
When selling your home or estate, you want the highest price you can get – period – regardless of market conditions and the property’s location, size or zoning.  So, what can we do to maximize the sale value?  Here are five simple tips for selling your home and getting the best sale price and contract terms. 1.    Define Your Goals.  Write down what you need to accomplish for you to call the sale a success.  Parameters might include: a.    Minimum price b.    When you want the home listed for sale and when you want to close escrow c.    How quickly you want the property sold (under contract) after it’s listed for sale d.    Maximum you’re willing to spend to get the property ready to sell e.    How you want closing costs split with the buyer f.     Maximum closing costs 2.    Clean Up T...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Palo Alto homes and condos are leading Silicon Valley in demand due to increased employment in the area and lack of homes for sale in surrounding communities.  Of 40 homes now on the market, only 12 are priced under $1M.  Not surprisingly, most are condos. Here are Palo Alto homes and condos for sale under $1M as of February 22, 2013.  Click on a property’s Address to view photos and detailed information.   2065 ALMA ST, PALO ALTO, CA 94301   $998,000 Bedrooms: 3 Bathrooms: 2 Sq. Ft.: 1,386 Open House on Saturday, Feb 23, 2013 1:30 PM - 4:30 PM                   555 BYRON ST #305, PALO ALTO, CA 94301   $995,000 Bedrooms: 2 Bathrooms: 2 Sq. Ft.: 1,548     131 WASHINGTON AV, PALO ALTO, CA 94301   $949,950 Bedrooms: 2 Bathrooms: 1 Sq. Ft.: 1,204       447 FERNANDO AV, PALO ALTO, CA 94306  ...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
This week, there are seven Northern Silicon Valley REO foreclosure homes for sale.  The northern Silicon Valley area includes the communities of Atherton, Menlo Park, Portola Valley, Woodside, Palo Alto, Los Altos/Los Altos Hills, Mountain View and Sunnyvale. Here are Northern Silicon Valley REO foreclosure homes for sale as of February 22, 2013.  Click on a property’s Address to see photos and detailed information.   862 WAVERLEY ST, PALO ALTO, CA 94301   $2,490,000 Bedrooms: 3 Bathrooms: 3 full | 1 partial Sq. Ft.: 2,024       443 OCONNOR ST, MENLO PARK, CA 94025   $1,207,500 Bedrooms: 5 Bathrooms: 3 Sq. Ft.: 2,225     2259 WYANDOTTE ST, MOUNTAIN VIEW, CA 94043   $945,330 Bedrooms: 4 Bathrooms: 3 Sq. Ft.: 1,610     1060 MARIGOLD CT, SUNNYVALE, CA 94086   $790,000 Bedrooms: 4 Bathrooms...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Silicon Valley luxury homes and estates can be found in the finest neighborhoods on the Peninsula, from  Atherton to Los Gatos.  Mid-priced luxury homes are receiving good offers quickly, though ultra-luxury homes priced above $10M continue to sell slowly. Here are Silicon Valley’s Top 10 luxury homes and estates for sale as of February 21, 2013.  View photos and details by clicking on the Address for each property.  Please contact me if you have any questions or if I may assist with your search of Silicon Valley luxury homes and estates.   331 GREER RD, WOODSIDE, CA 94062                 $85,000,000 Bedrooms: 6 Bathrooms: 4 full | 1 partial Sq. Ft.: 9,000                                        236 PARK LN, ATHERTON, CA 94027   $34,888,000 Bedrooms: 6 Bathrooms: 4 full | 4 partial Sq. F...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Investors, here are northern Silicon Valley multi-family properties for sale as of February 20, 2013.  This area includes the towns of Atherton, Menlo Park, Portola Valley, Woodside, Palo Alto, Los Altos, Los Altos Hills, Mountain View, and Sunnyvale. This is the lowest sales inventory of units in a long time, due primarily to increasing home prices and rents throughout Silicon Valley.  If you would like to be contacted immediately when a property that fits your investment criteria comes on the market, drop me an email. Click on a property’s Address to view photos and the property’s MLS listing information.   1960 SAN RAMON AV, MOUNTAIN VIEW, CA 94043   $5,790,000 7 Units                  1187 BORANDA AV, MOUNTAIN VIEW, CA 94040   $2,500,000 8 Units               475 OXFORD AV, PALO ALT...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Ladies, don’t be a victim. Santa Clara Kenpo Academy, Silicon Valley’s premier martial arts training center, has scheduled another in their series of Women’s Self Defense Workshops for March 5, 2013 beginning at 7:45pm.  The cost is $25 and the Workshop will cover - ·         Situational awareness ·         Risk avoidance ·         Simple moves to protect yourself in common situations Led by Owner/Senior Instructor Sandra Agonoy (4th Degree Black Belt), the Workshop will help to instill a sense of awareness and confidence that you will be able to handle and escape from many potentially dangerous situations.  Click Here for more information and to sign up.   About Santa Clara Kenpo Academy SCKA is a woman-owned business that offers a full schedule of karate, kickboxing, and Just Move car...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
“Where did I put my keys?”  Words typically cried with painful frustration as home owners retrace their steps, check pants pockets, dump purses on the floor, rummage through drawers… look everywhere for the magic ring that holds security and mobility.  Even in this age of electronic everything, the simple, mechanical key remains the most common tool for locking and unlocking our cars, bicycles, gym lockers, and homes.  Despite our dependence upon keys to navigate through each day, we still find new and amazing ways to lose them. Here are ten simple steps to managing keys that will help to reduce frustration and anxiety. Step 1:  Change or re-key locks.  This is the first thing any new home owner should do upon closing escrow.  Change or re-key locks before moving anything of value into ...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Buyers, sellers, investors, welcome back to another installment of Real Estate Jargon, aka, simple explanations of real estate terms not normally found in everyday conversation.  Today we’re going to look at pass-through deposits and how they are used in real estate purchase transactions. Real estate Buyers specify in their purchase offer the amount of the initial deposit they will be place in escrow upon acceptance.  Buyers may offer to make additional deposits (increased deposit) of a specified amount at a specific point in time during the escrow period to increase the attractiveness of their offer.  But these deposits remain in escrow until the sale is concluded.  Therefore, they merely demonstrate the increased commitment of the Buyer without directly benefiting the Seller. Pass-thr...
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