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)
I am sure you have read the news paper articles, and heard all your neighbors talking. The Palo Alto real estate market is on fire! Homes are getting multiple offers and selling for hundreds of thousands of dollars over asking prices. Buyers are buying homes in horrible condition and on busy streets. People are desperate to buy a home in Palo Alto so selling your Palo Alto home should be so easy why would you spend any money on preparing it for sale? There is a very good reason for spending money to get a home prepared for sale: YOU WILL MAKE MORE MONEY SELLING YOUR HOME IF YOU SPEND MONEY WISELY So, how should you spend money?  Today, I want to talk about the first thing that should be done when you want to sell your Palo Alto home. GET INSPECTIONS At a minimum when selling your Palo A...
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
Many homeowners in Palo Alto feel that selling at the end of the year, during the holiday season is not a good idea.  Traditional wisdom in Palo Alto real estate is: 1. The height of the selling season in Palo Alto is Feb-June so that is the best chance to make the most money. 2. There are not as many buyers at the end of the year since they are busy with holidays and family activities. 3. Life will be disrupted if they have to put their home on the market during the holidays. I am not going to dispute this but there are some things to think about to counter balance these assumptions: 1. There is less competition from other homes at the end of the year so that can keep the price elevated 2. Right now there are still many many more buyers than homes to buy in Palo Alto so there will be p...
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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)
  Daylight Saving Time or Daylight Savings Time-6 Facts You Don't Know By Michelle Carr-Crowe, Silicon Valley, Calif. guide and Cupertino real estate agent So when you "fall back" tonight at 2:00 a.m. on November 4, 2012, and put your clocks back one hour, Daylight Saving Time officially ends. But how much do you really know about DST? Test your knowledge to see if you know these 6 facts about Daylight Saving Time. 1)  True or False? The correct name is “Daylight Saving Time” not “Daylight Savings Time?” 2)       The American who first proposed a form of daylight saving time was: a)       George W. Bush b)        Franklin D. Roosevelt  c)       George Bush d)     Benjamin Franklin   3)     The first year for Daylight Saving Time was: a)      1918 b)       2005 c)       1784 d)       189...
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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 59 homes now on the market (not including those in escrow), only 7 are priced under $1M.  Note: there were 15 homes under $1M just two weeks ago. Here are Palo Alto homes and condos for sale under $1M as of November 2, 2012.  To view photos and the MLS listing for a property, click on the property’s Price.   Price Location Bed/Bath Sq. Feet $998,000 3282 Berryessa Street 2.3 1,519 $995,000 555 Byron Street #305 2/2 1,548 $925,000 365 Charleston Road 2/1.5 1.045 $800,000 1103 Trinity Lane 2/2.5 1,130 $649,000 412 Pepper Avenue 2/1 748 $529,950 4250 El Camino Real #D232 2/1 880 $528,000 4250 El Camino Real #A107 1/1 885   Visit ...
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
In 2004 my son left to go to college at New York University which is in the Village. At the time, the Village was The place to be for not only NYU students, but young professionals as well as the artists struggling in NY. When he graduated in 2008 the financial market was in crisis so rents were dropping, and young graduates could still afford (although barely) to live there.  However, by 2010 Village rents were up again, and by 2012 most young people not working on Wall Street had left for Brooklyn. Brooklyn is now the center of the universe for 20 somethings (as evidenced by Girls and everyone I know under 30) The investors who own rental properties in Brooklyn are now blessed with an endless stream of ready and willing renters. I see the same thing happening in West Oakland. San Fran...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Good homes are in short supply.  Have you been looking for longer than you would like and still can’t find the right home listed for sale in the neighborhood where you most want to live?  The simple fact is that homes in the most desirable areas don’t come on the market very often and they disappear quickly once they do.  But do we really have to wait forever to buy in these neighborhoods?  Nope. A growing number of homes are sold “off market” or in response to unsolicited offers.  Statistics vary greatly by location, but we know that many homes are sold without ever making it onto the Multiple Listing Service (MLS).  These could be homes “For Sale By Owner” or “pocket listings” that sellers want their agents to market out of the public eye for personal reasons.  Some homeowners haven’t...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Buyers, sellers, and investors – welcome to another installment of Real Estate Jargon, aka, simple explanations of real estate terms. In the Lethal Weapon movie series, Danny Glover and Mel Gibson did a recurring bit based upon the confusion created by a common predicament: “Do we go on 3, or count to 3 and then go?” In real estate, buyers and sellers are often faced by a similar situation.  When a real estate listing agreement or real estate purchase contract says “X days prior…” or “X days after…”, what is the specific date that everyone can agree is the right one? Agents often prepare a real estate transaction timeline with specific dates (“date certain” in legal language) to help buyers and sellers understand the dates that everyone has committed to.  To answer the question of how ...
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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)
Why Silicon Valley Sellers Should Provide a Property Inspection Report By Michelle Carr-Crowe, Silicon Valley real estate agent and home selling expert Should a home seller in San Jose, Saratoga or Cupertino provide a property inspection report? Sellers from Palo Alto to Campbell, Calif. ask me this every in my real estate consultation appointments. They ask, “Paying for inspections is something the buyer should do, not the seller, right? True, a buyer may pay for a second property control inspection. However, in today's market, providing a property inspection report (and a pest inspection) can help buyers make quicker decisions when it's time to make offers-and forego additional negotiations when it's time to remove contingencies. If you're considering selling a Silicon Valley home, ta...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
When selling residential lots and land, 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 residential lot or land and getting the best sale price and contract terms. 1.    Clean Up The Property.  Remove junk, trash, brush and excess foliage.  Remove structures that are fire hazards or dangerous to enter.  If needed, have fences repaired and trees trimmed.  Look for ways to make the property more visually attractive. 2.    Have The Land Surveyed.  The surveyor will stake the lot’s corners, mark lot lines, and file an updated survey report with the county.  If the survey indicates that either you or a neighbor has built ac...
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
There are many people living in Palo Alto who have been here for a long time and have a lot of equity in their homes. They may not have huge retirement income, but there is money in the value in their home if money is needed. The question is what is the best thing to do if a senior needs money? Sell, rent, reverse mortgage? There is no correct answer. Each option has pros and cons. The first thing to do would be to speak with an accountant or financial adviser to understand the tax consequences of the different options. I just want to give you some broad information about each of these options to help you make an informed decision based on what is best for your particular circumstance. Reverse Mortgage: The mortgage company will give you a monthly amount, or a lump sum. The interest and...
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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 69 homes now on the market (not including those in escrow), only 15 are priced under $1M. Here are Palo Alto homes and condos for sale under $1M as of October 19, 2012.  To view photos and the MLS listing for a property, click on the property’s Price.   Price Location Bed/Bath Sq. Feet $1,000,000 3510 Middlefield Road 3/1 1,120 $999,888 4277 Park Boulevard 4/2 1,496 $998,000 3282 Berryessa Street 2.3 1,519 $998,000 310 Maclane Street 3/1 1,050 $998,000 434 Webster Street 2/2 1,171 $995,000 555 Byron Street #305 2/2 1,548 $949,000 749 Loma Verde #A 3/3 1.549 $890,000 931 Curlew Lane 2/2 1,197 $588,000 777 San Antonio Road #95 2...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Silicon Valley small unit residential properties of 4 units or less often provide a great starting point for new investors or the opportunity to cost-effectively build an existing property portfolio.  There are no new properties on the market this week and four properties on last week’s list have gone into escrow.   Here are northern Silicon Valley small multi-family investment properties for sale as of October 19, 2012.  This area includes Atherton, Menlo Park, Portola Valley, Woodside, Palo Alto, Los Altos, Los Altos Hills, Mountain View, and Sunnyvale.   Click on a property’s Location to view photos and the property’s its MLS listing information.   City Location Price Units Notes Palo Alto 251 El Carmelo Ave $1,985,000 4   Menlo Park 312 Waverly Street $1,950,000 4 + Menlo Park 308 W...
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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)
Today, October 14, 2012 is the 52nd Birthday of the Peace Corps by Michelle Carr-Crowe, Silicon Valley guide and real estate agent Fifty-two years ago today, on October 14, 1960, then-Senator John F. Kennedy inspired a 10,000-student strong crowd at the University of Michigan in Ann Arbor when he first  described his vision of a Peace Corps during a presidential campaign speech. The students immediately took action, further empowering Kennedy's fledgling idea, with a  petition signed by 1,000 students stating they were willing to serve abroad in such a capacity.  Soon after taking office as the President of the United States, and less than 6 months from its first mention, President John F. Kennedy established the Peace Corps on March 1, 1961.  
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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 69 homes now on the market (not including those in escrow), only 15 are priced under $1M. Here are Palo Alto homes and condos for sale under $1M as of October 12, 2012.  To view photos and the MLS listing for a property, click on the property’s Price.   Price Location Bed/Bath Sq. Feet $1,000,000 3510 Middlefield Road 3/1 1,120 $999,999 754 Homer Avenue 2/2 836 $999,888 4277 Park Boulevard 4/2 1,496 $998,000 220 Chestnut Avenue 2/1 816 $998,000 3282 Berryessa Street 2.3 1,519 $998,000 310 Maclane Street 3/1 1,050 $995,000 555 Byron Street #305 2/2 1,548 $949,000 749 Loma Verde #A 3/2.5 1,549 $925,000 365 Charleston Road 2/1.5 ...
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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 complex or obscure real estate terms.  As a departure from terms typically used in real estate transactions or property management, I’m responding to a question I’ve received a couple times regarding “rug joints” and “sawdust joints.” All men know that anything they need to learn about being a man they can learn from watching “The Godfather.”  Women – if you want to understand men, watch this movie.  Mario Puzzo, the late author who wrote the book, said that the story isn’t about the Mafia, it’s about the relationship between a father and his sons.  But I digress… In “The Godfather, Part II,” one of the Mafia chiefs talks about how their casino hotels in Cuba are bigger and...
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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 (no homes from this list sold in the past week). Here are Silicon Valley’s Top 10 luxury homes and estates for sale as of October 10, 2012.  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.  john@jsrealproperty.com   Top 10 Silicon Valley Luxury Homes and Estates City Listing Price Bed/Bath Sq. Feet Lot Acres Woodside $39,500,000 4/6 14,000 3.00 Atherton $21,800,000 6/10 14,000 1.25 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 $...
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
Today I pulled into my Midtown Palo Alto driveway around 2:30. Like most of the homes in midtown there is only a one car garage, and after you put the washer and dryer in it there is no room for a car. Most people park in their driveways, which today was very fortunate. When I opened my car door my neighbor from across the street called out "Marcy I need help!" His garage door was open and I ran across the street. Ed was lying on his kitchen floor after falling in the driveway and crawling back to the house. Quite a feat for this feisty 88 year old man. His wife Char was out shopping and he had been alone on the floor for about an hour.  I called 911 who showed up in less than 10 minutes and took him to Stanford. Char came home and I drove her to Stanford. She was shaking and obviously ...
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By Carla Dimond, (Silicon Valley)
(CATARRA)
    Single Family Home Sales in Palo Alto, CA September 2012* All Zip codes Single Family Homes Sold- 28 Average list price- $ 1,986,010 Average sold price- $ 2,041,973  (3% OVER asking price) Average Days on Market-30 days Over asking price-68% Under asking price-32% 70% of houses listed over 2M sold for less than asking price 89% of houses listed for less than 2M sold for more than asking price   Zip Code 94303 Single Family Homes Sold- 6 Average list price-$ 1,457,000 Average sold price- $ 1,732,667 (19 % OVER asking price) Average Days on Market- 10 days Over asking-100%   Zip Code 94301 Single Family Homes Sold- 6 List price-$ 2,764,333 Sold price-$2,639,167 (5% UNDER asking price) Days on Market-48 days Over asking price-33% Under asking price-67%   Zip Code 94306 Single Family Ho...
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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 64 homes now on the market (not including those in escrow), only 15 are priced under $1M. Here are Palo Alto homes and condos for sale under $1M as of October 5, 2012.  To view photos and the MLS listing for a property, click on the property’s Price.   Price Location Bed/Bath Sq. Feet $1,000,000 3510 Middlefield Road 3/1 1,120 $999,999 754 Homer Avenue 2/2 836 $999,888 4277 Park Boulevard 4/2 1,496 $998,000 220 Chestnut Avenue 2/1 816 $998,000 3282 Berryessa Street 2.3 1,519 $995,000 555 Byron Street #305 2/2 1,548 $950,000 4022 Villa Vera 3/2 1,451 $925,000 365 Charleston Road 2/1.5 1,045 $899,000 430 Pepper Avenue 2/1 942 $8...
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
Everyone knows Palo Alto's housing market is hot, homes get multiple offers, and sales can be wildly over asking price, but that does not mean a seller can price his/her home at any price and get these results. As a long time Palo Alto real estate agent I can assure you that today's buyers are more informed than any buyers from previous years. Most buyers looking at a specific neighborhood are as informed about values as most realtors helping them. They know what has sold, and for how much and they know how the recent sales compare to your home, so don't think you can fool them. If you price your Palo Alto home a lot under market value you will get many offers and a price over asking. If you price your Palo Alto home at market value, you will not get as many offers, and you will not end...
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