Palo Alto, CA Real Estate News

By Christina Sanchez Hood, #SiliconValleyHOODS | Inspired Living
Downtown Palo Alto Music On The Plaza - Concert Series Begins... The free summer concert series kicked off last Thursday, July 9, at the King Plaza in front of Palo Alto city Hall; 250 Hamilton Avenue.  The concerts last from 6 to 8 p.m. and will conclude with the final concert on August 13. The complete line up is as follows:July 9th - Dutch Uncle / Rock & RollJuly 16th - Chris Cain Band / BluesJuly 23rd - Pride & Joy / R&B PartyJuly 30th - California Cowboys / CountryAugust 6th - SOL / Latin RockAugust 13th - Fleetwood Mask / Tribute to Fleetwood Mac For complete information and event details visit:www.MusicOnThePlaza.com  Palo Alto is a great place to live.  View Palo Alto Homes For Sale HERE.
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By Christina Sanchez Hood, #SiliconValleyHOODS | Inspired Living
Market Monday:  Palo Alto Sales Stats The market is still strong for home sales in Palo Alto, CA.  The following two charts show that Sales by Price Range, as well as,  Sales to List Price Ratio are both in favor of the seller for the last 12 months. The bulk of the home sales are between the $2,000,000 to $3,000,000 range and $3,000,000 to $5,000,000 range is a strong second. The key point of the Sale to List Price chart is simply, the homes are selling above list price, and despite the dips over the last few years, we appear to see an upward trend continuing through the rest of 2015.   For more details on the home prices in the #SiliconValleyHOODS, contact us today for a detailed report.  650.382.2880.
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
  Homes in Palo Alto are expensive and there is a lot of competition for them. Lots in Palo Alto tend to be relatively small. Most are 6,000 to 8,000 square feet. Palo Alto lots (or tear down homes more commonly) are selling for 2 -5 million dollars, making the cost of a new home in Palo Alto astronomical. If a new home is going to cost 4.5 million and up, most buyers want more than 2,000 square feet of living space. This is hard to do when the lot is only 6,000 square feet and the developer has paid $2,500,000 to purchase the lot. The solution has been to build the house with a basement. The reason is that Palo Alto building rules state that square footage under ground does not count towards the total allowable square footage of lot coverage. Additonally Palo Alto single family homes ...
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
Anyone trying to buy a home in Palo Alto right now knows that it is tough out there. There are many more buyers than sellers and many Palo Alto homes sell with multiple offers way over list price. Some homes go as much as 40% over asking, but some do not. How does a buyer make the decision about how much to offer to have the winning bid in a Palo Alto multiple offer situation and not overpay? The answer is not simple, and sometimes it not a question of price, but terms, like contingencies, length of escrow, length of rent back, etc. But for right now, let's just discuss price. Here are some things to keep in mind when you make an offer on a Palo Alto home in a multiple offer situation, 1. In my opinion the most import thing is, how much is this home worth to you? In other words, what p...
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By Lottie Kendall, Helping make your real estate dreams a reality
(Compass)
Yesterday, I had a hour between showing property in Mountain View and hosting an open house in San Carlos, so drove back roads between the two towns. My meanderings took me by the Palo Alto Baylands, where I stopped to eat my lunch, wishing I had time to run on the baylands trails as I used to do quite often. Some of the trails are paved and are often used for biking to Google, Intuit and other high tech firms. Enjoy! my favorite biker from yesterday
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By Lottie Kendall, Helping make your real estate dreams a reality
(Compass)
Question: Who do you want on your referral team? Answer: Someone who gets stellar reviews like this one: "Caroline is the best out there. She helped us finance a home on a very aggressive timeline and is meticulous with details, deadlines, and reminders. She is a superior communicator and working with her is an education in real estate finance. She also served as the key coordinator between us, the real estate agents, and the title company, insuring everything went smoothly. Caroline is professionalism incarnate. Very highly recommended. " When I recommend Caroline Wolf, Senior Loan Officer with Princeton Capital in Palo Alto, CA, I am assured that she will take the utmost care of her clients. The above review was written by a buyer who came to one of my listings at an open house and kn...
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
I have a client who made an offer on a condo in Palo Alto at Tall Tree Estates downtown. I love this building. When I first came to Palo Alto in 1981 my dance teacher lived here. I thought it was the most elegant apartment I had ever seen. It was about 7 years old at the time, the building not me. Since my clients are planned on writing an offer we got the disclosures, along with the home owner association docs to review before the offer. One thing stood out to me which is this Palo Alto condo has no reserve fund. A reserve fund is generally part of a Palo Alto condo complex budget. The complex will collect money every month as part of the HOA dues. A portion of this money will not be used for day to day expenses, but rather be put aside in a reserve fund. This fund is used to pay for m...
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By Chris Freck, EstaR Mortgage, A Bilingual Brokerage
(EstaR Mortgage)
VA Mortgage Loans in Palo Alto CA and 100% financing on VA Loans - the best loan program and loan payment in the country! VA Mortgage Loans are one of the best mortgage loan programs available today for active duty and honorably discharged Veterans. Here are some of the main features of this great program: - 100% financing, no down payment required. - Monthly mortgage insurance is not tacked on to your payment. - More lenient credit qualifying standards than other types of mortgage loans. - Low rates compared to other loan programs. Here's how to qualify for a VA Mortgage Loan in Palo Alto CA: You must first verify your eligibility. Eligibility is verified by ordering your Certificate of Eligibility or COE. An approved Palo Alto CA VA loan lender can order your COE for you, or you can c...
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
  I was recently asked to go to a home in the Barron Park neighborhood of Palo Alto to speak to the owners about possibly selling their Palo Alto home. We did the typical tour of both inside and outside of this lovely farm home style home from the early 20's. It had been in the family since it was built and the 3 siblings who inherited it are getting ready to sell this beautiful Palo Alto home.  There were many things that stand out about this beautiful old home, but to me the most interesting thing I saw was the largest bee hive I had personally seen in my 20 years in business. It is not uncommon to see a termite report with a mention of a bee or wasp nest attached to the Palo Alto home for sale. When this happens as a Palo Alto real estate agent I generally tell my client that it is ...
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
Anyone trying to buy a condo in Palo Alto right now knows that it is tough out there. There are many more buyers than sellers and many Palo Alto condos sell with multiple offers way over list price. Some homes go as much as 30% over asking, but some do not. How does a buyer make the decision about how much to offer to have the winning bid in a Palo Alto condo multiple offer situation and not overpay? The answer is not simple, and sometimes it is not a question of price, but terms, like contingencies, length of escrow, length of rent back, etc.   But for right now, let's just discuss price. Here are some things to keep in mind when you make an offer on a Palo Alto hcondo in a multiple offer situation, 1. In my opinion the most important thing is, how much is this home worth to you? In o...
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
  I am currently in Maryland, for the third time this summer. One of my sons had surgery and his wonderful neurosurgeon is in Maryland. I really miss Palo Alto. Fortunately we should be able to come home on Tuesday night. The day before surgery my New York based son came to visit my Palo Alto son with some other friends from Palo Alto who are living in New York as well as some of their New York friends. We were discussing the HBO show Silicon Valley and we all agreed it was an accurate description of life in Palo Alto. They claimed much more so than Jame's Franco's movie "Palo Alto", but Franco's childhood in Palo Alto was 10 years before my son's and his friends, so maybe his experiences were very different. In any case, being in Maryland really makes me appreciate Palo Alto.  I miss, ...
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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)
Three Clean Jokes From National Tell-a-Joke Day August 16 by Michelle Carr Crowe   What did one bug say to the other after they hit the windshield?   "I bet you don't have the guts to do that again."   What do you call a sleepwalking nun?  A Roman Catholic.   Did you hear about what happened to the dyslexic devil worshipper? He sold his soul to Santa.   Fortunately Santa understand and returned his soul. Thankful for a second chance to get it right, the dyslexic went straight to the source...and sold his soul to dog.   Have a happy day!   Image courtesy of stock photos from www.freedigitalphotos.net.    Thank you to my friend Brenda for sharing National Tell-a-Joke Day with me.   Thanks for reading "Three Clean Jokes From National Tell-a-Joke Day August 16".    
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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)
Those Awkward Moments-What Do You Say About Life-Size Nude Photos? June Contest  So June's contest is about "those awkward moments"-after 28 years, how do you choose which one ?  How about life-size nude photos of the seller and his friends? (And this was NOT in the 1970's!) I went to do a market analysis in tony Palo Alto of a revised Eichler home that was currently selling "for sale by owner". The seller had a list of his home's features. However, the most stand-out feature was the life-size nude photos of the seller and his friends-in multiple rooms. Not to mention the custom double king-size bed. And that his friend from the photo was at the consultation. I gave my analysis and never followed up. I think he was looking to "meet new women" if you know what I mean.  This is an entry f...
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By Chris Freck, EstaR Mortgage, A Bilingual Brokerage
(EstaR Mortgage)
VA Mortgage Loans in Palo Alto California and 100% financing on VA Loans - the best loan program and loan payment in the country! VA Mortgage Loans are one of the best mortgage loan programs available today for active duty and honorably discharged Veterans. Here are some of the great features of this fantastic program: - 100% financing, no down payment required. - Monthly mortgage insurance is not tacked on to your payment. - Easier credit qualifying compared to other types of mortgage loans. - VA Mortgage Rates are low compared to other types of home loans. How do you know if you qualify for a VA Mortgage Loan in Palo Alto California?   You must first verify your eligibility. Eligibility is verified by ordering your Certificate of Eligibility or COE. An approved Palo Alto California VA...
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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)
5 More Fun Facts That Happened on This Date in History June 15 by Michelle Carr Crowe Do you enjoy learning interesting facts about history? Here are 5 more fun facts about June 15 you might like to know about. 1844 – Charles Goodyear receives a patent for vulcanization, a process to strengthen rubber. 1846 – The Oregon Treaty establishes the 49th parallel as the border between the United States and Canada, from the Rocky Mountains to the Strait of Juan de Fuca. 1864 – Arlington National Cemetery is established when 200 acres (0.81 km2) around Arlington Mansion (formerly owned by Confederate General Robert E. Lee) are officially set aside as a military cemetery by U.S. Secretary of War Edwin M. Stanton. 1877 – Henry Ossian Flipper becomes the first African American cadet to graduate fro...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
In today’s market, many home buyers are buying residential lots instead and building custom homes.  Improved market conditions in many areas are also allowing investors to return to the business of buying land and building custom “spec” homes or small subdivisions.  If you’re thinking about buying unimproved residential land and building – whether for a home or investment – here are a few tips for finding the right property and closing the sale. 1. Site Selection Criteria Buying an existing home or buying land starts with similar criteria – the right location, total cost and ability to use the property as we want.  Here are common selection criteria for buying residential lots. Location: schools, business center(s) commute, shopping/services, public facilities/services/transportation, p...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
The Palo Alto May 2014 home sales report indicates that Palo Alto homes continue to be in high demand, as inventory is stable and overall prices appear to be escalating.  Of the 24 homes that closed escrow in May (down from 58 in April), 22 sold within 30 days. Palo Alto homes are not staying on the market long, with 20 of the 34 homes now for sale on the market less than 30 days.  37 of the 42 homes now in escrow sold within 30 days.  Only seven homes have been on the market longer than 90 days.  There is only one short sale on the market and no foreclosed homes. June 1st Palo Alto Market Snapshot: Homes active on the market: 34 (click to view > Palo Alto homes for sale) Distressed properties for sale:  Short Sale – 1  Foreclosed – 0 Price range of active listings:  $599,000 to $21,500...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
When you’re a buyer in the market for a home, business or investment property, one of the first things to consider as you begin your search is where does real estate for sale come from?  We can rule out the stork flying them in or growing properties in a pumpkin patch, since we know that’s where babies come from, not real estate.  Let’s look at some of the most common sources of real estate for sale and how we can access those sources in our property search. 1.  Multiple Listing Service and Syndication Sites The local Multiple Listing Service (MLS) is the most common place to find real estate of all types, including homes, land and commercial properties.  Almost all MLS systems “syndicate” their listings by sharing them electronically with public real estate information sites such as RE...
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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. Only the problem, like the drought, is getting worse.   There are currently 28 single family Palo Alto homes for sale, down from 38 last week . There are currently 7 Palo Alto town homes/condos for sale, up from 4 last week.   There are currently 47 pending sales of Palo Alto single family homes up from 38 last week.   There are currently 5 pending sales of Palo Alto Town homes/Condos down from 6 last week.   Last week there were 11 new Palo Alto single family home listings and 3 new Palo Alto condo listings. Basically the pending sales are more than keeping up with the new listings.     In April of 2014 there were 45 single family Pal...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Whether buying or selling, we rely on real estate market statistics to help us make many important decisions.  We trust that sources providing market information are reliable, but just how reliable are they?  We certainly hope they’re more accurate than a TV weather man, but in a constantly changing environment market data are a moving target.  Let’s look at a few common real estate market statistics that we may want to look at a little closer before making important decisions based on them.   Price Per Square Foot. Price Per Square Foot is the asking or sale price divided by the number of square feet of improvements.  It’s an inaccurate measurement of value because it doesn’t take into account the type and quality of materials and workmanship, the property’s specific location, and the ...
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