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 24 single family Palo Alto homes for sale down from 25 last week. There are currently 7 Palo Alto town homes/condos for sale, down from 8 last week. There are currently 14 pending sales of Palo Alto single family homes, the same as last week. There are currently 9 pending sales of Palo Alto Town homes/Condos, up from 8 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 low, but not really worse than last week. I am hoping ...
Comments 0
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 25 single family Palo Alto homes for sale up from 25 last week. There are currently 8 Palo Alto town homes/condos for sale, the same number as last week. There are currently 14 pending sales of Palo Alto single family homes, up from 12 last week. There are currently 8 pending sales of Palo Alto Town homes/Condos, up from 6 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 low, but better than last week. I am hoping they w...
Comments 0
By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
If you are a Palo Alto home 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 Palo Alto home 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 Palo Alto home before the sale including property, termite, roof, chimney, and foundation if appropriate. 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? As a Palo Alto Re...
Comments 0
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. Ever walk or drive down a residential street and see a driveway between two homes that appears to not lead to either home?  Chances are it leads to a lot hidden behind those homes, typically referred to as a flag lot (also sometimes called a “land lot”). Take a look at our simple diagram of a residential block below.  It’s a plat map with location and dimension data left off.  We see the shaded area as 104 Miller Street, a flag lot.  The entrance off Miller Street is a driveway leading to the larger area behind 102 Miller Street.  That shaded area kinda looks like a flag, so wahlah!  A flag lot.   How are flag lots created?  Many are the product of “lot ...
Comments 4
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 nature. Have you ever needed to be out of your present home before you close escrow on a new one?  If so, you may have just a few options for temporary living space: 1.    Spend a lot of cash on a hotel 2.    Move in with relatives or friends 3.    Ask the seller of the home you’re buying if you can move in early and pay rent until escrow closes If the home you’re buying is vacant or the seller is moving out early, Option 3 might work.  If you and the seller agree, you will create a form of tenancy called “interim occupancy.”  In short, it means you’re renting your new home until escrow closes.  If you think that you may need Option ...
Comments 3
By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Silicon Valley luxury condos offer a sophisticated lifestyle without the hassles of mowing the lawn or cleaning the pool.  Condos with a full range of amenities are available throughout the Valley, including the most exclusive condos priced above $1,000,000. Here are the 25 Silicon Valley luxury condos listed for sale above $1M as of February 14, 2013.  Click on a property’s Address to view photos and detailed information. Note: Many of these condos have an open house this coming weekend.  If you would like me to accompany you, please send an email: john@jsrealproperty.com   Silicon Valley Luxury Condos For Sale   240 3RD ST #302, LOS ALTOS, CA 94022   $3,999,000 Bedrooms: 2 Bathrooms: 2 full | 1 partial Sq. Ft.: 3,975       356 SANTANA RW #306, SAN JOSE, CA 95128   $3,280,000 Bedrooms:...
Comments 0
By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
This week, there are three Northern Silicon Valley REO foreclosure homes for sale.  This 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 14, 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                 Need help managi...
Comments 0
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 14 are priced under $1M.  Not surprisingly, most are condos. Here are Palo Alto homes and condos for sale under $1M as of February 14, 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                           555 BYRON ST #305, PALO ALTO, CA 94301   $995,000 Bedrooms: 2 Bathrooms: 2 Sq. Ft.: 1,548     131 WASHINGTON AVE, PALO ALTO, CA 94301   $949,950 Bedrooms: 2 Bathrooms: 1 Sq. Ft.: 1,204     447 FERNANDO AV, PALO ALTO, CA 94306   $928,000 Bedrooms: 3 Bathrooms: 1...
Comments 0
By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Silicon Valley luxury homes and estates express the finest neighborhoods on the Peninsula, 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 13, 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. Ft.: 12,508       KINGS MOUNTAIN RD, WOODSIDE, CA 94062   $29,500,000 Bedrooms: 4 Bathrooms: 4 Sq. Ft.: 14,000       16450 AZTEC RIDGE DR, LOS GATO...
Comments 1
By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
There is an easy answer to the question should the real estate agent for the Palo Alto Seller also represent the buyer? NO NO NO NO NO NO NO NO NO NO NO!!!!!!! Should I say it again? NO!!!!! There are many reasons why Palo Alto real estate agents should not represent the Palo Alto buyer and Palo Alto seller from the Palo Alto real estate agent's perspective, but this blog is about why is is not good for the seller. Selling a home in Palo Alto is a big deal. There are very few on the market, right now only 25 single family Palo Alto homes are for sale. There are hundreds of people trying to buy a home in Palo Alto so each home that is for sale in Palo Alto will most likely get many offers, especially if it is listed for less than 2.5 million. While it is not illegal for a Palo Alto real ...
Comments 0
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 nature. Today we’re going to talk about supplemental taxes in California, that little surprise bill that homeowners receive months after buying a property.  In short, supplemental taxes are the difference between the amount of property tax that has been pre-paid prior to a sale and the amount of additional tax that is due after a sale because of the higher assessed value (usually the sale price).  Confusing?  Most people think so.  Here is a simple illustration. Joan bought a house a few years ago for $100,000.  The tax rate in her area is 1.2%, so her annual tax is $1,200.  In April, she paid her property tax for the period April th...
Comments 1
By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
One of the essential house hunting tools often overlooked when buyers hit the pavement to look at properties is a measuring tape or similar device.  Few MLS listings include room dimensions anymore and most listing agents don’t provide even a basic floor plan of the property, so it’s up to buyers to measure for themselves. I carry two essential measuring devices in my “real estate field bag.”  As shown in the photo, they are the standard Stanley 16’ PowerLock® metal measuring tape and the Stanley FatMaxTM laser.  The point-and-click technology of the laser saves a lot of time measuring rooms and larger spaces at distances up to 100 feet.  The laser is also excellent for measuring exterior areas such as patios, driveways, grass areas and garden plots. Here are some of the most common me...
Comments 0
By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
One of the essential house hunting tools often overlooked when buyers hit the pavement to look at properties is a camera.  Given that digital cameras have easily-changeable memory cards that make the number of pictures that can be stored virtually unlimited, taking pictures is an excellent way to supplement the information provided in MLS listings. Most digital cameras also switch between still photos and video, so make use of the video feature if the item being photographed would be better seen through that medium.  Here are suggestions for what to photograph as you look at properties: ·         Property address.  If there is no address on the curb or the structure, print the address on a 3 x 5 card or take a close-up photo of the address on the MLS listing and make that the first pho...
Comments 0
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 asked this question many time. When selling my home in Palo Alto should I give multiple counters to the buyers who make offers? In my opinion there is no right or wrong answer, but I can give you what I think are some common sense guidelines. 1. Where is the original list price? When you sell your home in Palo Alto your Palo Alto Real Estate Agent will give you an opinion as to where your home will sell. It will generally be a range between what he/she thinks the bottom and top are. It is just a guess, although most Palo Alto Real Estate agents will be able to give you an educated guess. If you decide to list the home at the top of that range, your decision to counter or multiple counter an offer may be different than if you list at the bottom of th...
Comments 1
By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Silicon Valley luxury homes and estates express the finest neighborhoods on the Peninsula, 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 4, 2013.  View photos and details by clicking on the Listing Price 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.   Top 10 Silicon Valley Luxury Homes and Estates City Listing Price Bed/Bath Sq. Feet Lot Acres Woodside $85,000,000 9/8.5 9,000 91.94 Atherton $34,888,000 6/7.5(4) 12,508 1.61 Woodside $29,500,000 4/6 14,000 3.00 Atherton $21,500,000 6.7(3) 11,800 1.06 Los Gatos $19,995,000 6/7.5(2) 11,257 50.00 Portola Valley $19,950,000 4/6.5(2) 8,285 11.6...
Comments 0
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 February 4, 2013.  Click on a property’s Price to see photos and detailed information.   City Price Bed/Bath Sq. Feet Notes Menlo Park + $1,207,500 5/3 2,225   Mountain View + $945,330 4/3 1,610   Sunnyvale $790,000 4/2 1,385   Mountain View $415,800 2/1 995 Condo Mountain View + $329,900 1/1 947 Condo Mountain View $259,900 1/1 578 Condo + New or back on the market this week Need help managing your rental units?  We provide complete property management services, p...
Comments 0
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 21 single family Palo Alto homes for sale. There are currently 8 Palo Alto town homes/condos for sale There are currently 12 pending sales of Palo Alto single family homes There are currently 6 pending sales of Palo Alto Town homes/Condos 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 low. I am hoping they will be doubled by the end of February and triple by the end of March. I am an optimist. If you would like to search for home...
Comments 1
By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
When you sell your home in Palo Alto one of the things you want to make sure of is that other Palo Alto Real Estate Agents will show your home. this is important because while many buyers will find your home on the internet, they will almost always be using a Palo Alto Real Estate Agent to help them make the offer, so you will want to make sure other Palo Alto Real Estate Agents enthusiastically want to show the Palo Alto home you are selling. The last thing you want is to have a Palo Alto Real Estate Agent bad mouthing the Palo Alto home you are selling. Here are some simple steps you can take to keep everyone feeling your home is a great one to have their client try to buy. 1. When you interview Palo Alto Real Estate Agents be gracious and smile, even if you can not stand the Palo Alt...
Comments 2
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)
Silicon Valley Estate Sells for Record-Breaking $117.5 Million by Michelle Carr Crowe, Silicon Valley Luxury home sales  An investor's impressive estate in Woodside, Calif., sold for $117.5 million in November, 2012, one of the highest prices ever paid for a residential property in the U.S., as reported in the San Jose Mercury News on January 26, 2013. The sale price for the Mountain Home Road home in Woodside beats the previous Silicon Valley record of $100 million paid for a Los Altos Hills mansion by Russian investor Yuri Milner in 2011 by 17.5 percent. The past year has seen a resurgence of interest in and sales of luxury homes in Silicon Valley, from Saratoga to Cupertino to Palo Alto and beyond. According to public records, the seller was private equity investor Tully M. Friedman,...
Comments 2
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)
5 More Important Interesting Items That Occurred on January 25 By Michelle Carr Crowe, Silicon Valley real estate guide selling homes in San Jose If you’ve read my www.ActiveRain.com/Resultsblog, you know one of the pastimes I enjoy is learning new facts and interesting pieces of history. Sometimes I come across intriguing stories while reading our local San Jose Mercury News, Mental Floss or  Smithsonian Magazine. Other times I find articles or facts online at The History Place, Brainy History,Dates In Historyor the National Geographic Society. Today’s collection of facts was found at History Orb. While these interesting items pique my curiosity, they (usually) have nothing to do with my real estate business, which is helping people like you buy and sell homes in Silicon Valley, Calif....
Comments 2