Palo Alto, CA Real Estate News

By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
There are 24 Palo Alto homes for sale holding an open house this coming weekend in this popular Silicon Valley community.  Click on the address included in the listings below to view details of each of the Palo Alto homes for sale.  If you would like assistance during your open house visit or more information about any of these homes, contact me directly or use the “Request More Info” tab on the individual property listing page. Palo Alto Homes For Sale Holding An Open House September 28-29   4155 OLD TRACE CT, PALO ALTO, CA 94306   $5,988,000 Bedrooms: 5Bathrooms: 4 full | 1 partialSq. Ft.: 6,500     Open House on Sunday, Sep 29, 2013 1:30 PM - 4:30 PM     2303 COWPER ST, PALO ALTO, CA 94301   $5,198,000 Bedrooms: 5Bathrooms: 4 full | 2 partialSq. Ft.: 4,320     Open House on Sunday, S...
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By Carla Dimond, (Silicon Valley)
(CATARRA)
7 Condo/Townhouse sold in Palo Alto, CA August 2013* Average List Price: $917,000 Average Sales Price: $989,000 Median Sales Price: $945,000 On average 8% above list price Average Days on Market:  15 days Highest price: $1,7000 listed at $1,299,000 ALL cash Lowest price: $550,000 listed at $525,000  ALL cash 57% of condo sales were cash in Palo Alto, CA August 2013  *Information obtained from MLSListings, Inc deemed reliable but not guaranteed.   Want to know more about what is happening the Palo Alto real estate market?  Give me a call!    
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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 often asked this question in the fall, "Should I decorate my house for Halloween?" I am prejudiced as I love Halloween, but the decision to decorate your Palo Alto home for sale or not needs to be made with your head, not your heart. My first rule of thumb is don't do anything that would scare a young child. So no witches, headless horsemen, or "The Nightmare Before Christmas" pumpkins. If a child gets scared when viewing a home he or she will start screaming and the parents are likely to need to leave before they have the chance to really appreciate all that your Palo Alto home has to offer. Put out pumpkins with smiling faces instead. Making your home smell like Halloween will bring warm feelings to anyone who enters the house. Pumpkin candles, ...
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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 45 single family Palo Alto homes for sale, up from 23 last month. There are currently 9 Palo Alto town homes/condos for sale, up from 5 last month. There are currently 28 pending sales of Palo Alto single family homes, down from 41 last month. There are currently 13 pending sales of Palo Alto Town homes/Condos, up from 4 last month. In Aug of 2013 there were 43 single family Palo Alto homes sold, just 2 less than in July. The prices ranged from $980,000 to $5,400,000. This is the first sale under a million dollars since last spring. In August of 2013 there were 7 Palo Alto Town Homes/Condos sold, 2 more than in July....
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
Curry Up Now is in downtown Palo Alto at 321 Hamilton Ave, Palo Alto. It is open Monday- Friday 11:00am- 10:00pm, Saturday 11:30am- 10:00pm, and Sunday 11:30am- 9:00pm. It is a chain that is also located in San Mateo and San Francisco. They have 3 food trucks that you are able to check for their schedule online. You can also hire the food trucks for one of your events. You are able to order online for any of their locations or food trucks.   Curry Up Now serves Indian fusion street food and even offers many vegan and gluten free options. They warn that they prepare their vegan items in a common kitchen that would have the risk of dairy exposure. For gluten free options they offer a gluten free tortilla and flat bread. They do warn that they prepare gluten free food in a common kitchen s...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
There were 17 Palo Alto homes for sale added to the MLS within the past week.  These homes reflect the middle of the Palo Alto market, priced from $882,000 to $4,290,000.  33 of the 35 Palo Alto homes that closed escrow in the past 30 days fall within this price range, most priced between $1,500,000 and $2,000,000 Click on a property’s address to view detailed information, map location and more.  To view all Palo Alto homes currently for sale in  the MLS, click here: Palo Alto homes for sale.   Palo Alto Homes For Sale Added To The MLS In The Past Week   950 GUINDA ST, PALO ALTO, CA 94301   $4,290,000 Bedrooms: 6Bathrooms: 4Sq. Ft.: 4,359     2226 LOUIS RD, PALO ALTO, CA 94303   $4,195,000 Bedrooms: 5Bathrooms: 3 full | 1 partialSq. Ft.: 3,563     1499 COWPER ST, PALO ALTO, CA 94301   $...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
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 misused titles of listing agents 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 database went from being a f...
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By Carla Dimond, (Silicon Valley)
(CATARRA)
43 Single Family Homes Sold in Palo Alto, CA August 2013* All Zip codes Highest Prce: $5,400,000 Only one house sold for under a Million Dollars in Palo Alto in August 2013 Average List Price: $1,955,000 Average Sales Price: $2,144,000 On average 10% over asking price Average Days on Market: 21 days Zip Code 94301 14 Single Family Homes Sold in Palo Alto, CA  94301 August 2013 Average List Price:$2,683,000 Average Sales Price: $2,813,000 On average 5% over asking price Average Days on Market: 39 days Zip code 94303 12 Single Family Homes Sold in Palo Alto, CA  94303 August 2013 Average List Price:$1,699,000 Average Sales Price: $1,984,000 On average 17% over asking price Average Days on Market: 12 days Zip code 94305 1 Single Family home sold in Palo Alto, CA 94305 August 2013 List Pric...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Selling real estate with pass through deposits is very common in commercial property and land transactions, but not in residential sales.  Let’s look at what pass through deposits are and how they can be used to reduce the seller’s risk in a home sale. A pass through deposit is simply a cash deposit made into escrow by the buyer that is then released to the seller prior to escrow closing.  The cash to be released may be all of the initial purchase deposit, just part of that deposit, or come from an additional deposit made later during the transaction. The release (pass through) of deposit funds is most often tied to a specific date or event.  As sellers, we usually prefer that contingencies are tied to either specific days after the contract was signed or to a calendar date.  Those days...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
The Palo Alto home sales report for August 2013 reflects the strong market throughout Silicon Valley and consistently strong demand for Palo Alto housing, both single family homes and condos.  Homes priced below $5M are moving briskly and current value levels are expected to hold or increase through the end of 2013.  Inventory increased from 34 units on August 1st to 43 units on September 1st (homes for sale not yet in escrow). Of the 50 homes that closed escrow in August, only 8 were on the market longer than 30 days and 30 sold in less than 10 days.  Sales activity increased slightly in August over July, with more homes on the market and more homes going into escrow.                 September 1st Palo Alto Market Snapshot: Homes active on the market: 43 (click to view > Palo Alto home...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Keeping A Rent Roll Keeping a rent roll is fundamental for most real estate investors and property managers.  A rent roll is simply a written account of rents and other fees assessed to a tenant and when they were paid.  Rent rolls can be hand written in a notebook or automatically generated by property management software programs. When will you need a rent roll? Here’s a short list of when keeping a rent roll up-to-date is essential: Settling a balance dispute with a tenant Filing an Unlawful Detainer lawsuit to evict a tenant Annual lender audit (5+ unit properties)* Disclosing tenant payments to potential buyers when offering the property for sale When preparing taxes or conducting an internal audit What should a rent roll contain? For many property managers, a rent roll is a summar...
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By Gary Frimann, CRS, GRI, SRES, REALTOR and Broker
(Eagle Ridge Realty / Signature Homes & Estates)
Here is the latest real estate market report for Palo Alto, CA.  Centrally located to all the high tech centers and the high paying jobs that are offered there, Palo Alto is a great place to live.  Demand is always strong. Palo Alto is also home to Stanford University.  It has a wonderful walkable downtown and some great schools. Shopping at the local mall offers a little bit of everything one could hope for, and there are many great restaurants in Palo Alto.
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Santa Clara Kenpo Academy has provided me with a limited number of complimentary passes to this Agent Self Defense Workshop on August 24th.  To register and receive a free, complimentary pass, complete the brief registration form by clicking here. -------------------------------------------------- SaferAgent and Santa Clara Kenpo Academy (SCKA) will conduct a Real Estate Agent Self Defense Workshop at SCKA's martial arts training facility on Homestead Road in Santa Clara on August 24, 2013 from 9am to 10:30am.  This hands-on workshop is designed to address the unique safety threats agents face in the workplace.  Instruction will focus on self defense methods agents can use once careful planning and other precautions have failed. “The workshop provides agents with the tools to respond t...
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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 23 single family Palo Alto homes for sale, down from 28 last week. There are currently 5 Palo Alto town homes/condos for sale, down from 6 last week. There are currently 41 pending sales of Palo Alto single family homes, down from 42 last week. There are currently 4 pending sales of Palo Alto Town homes/Condos, down from 6 last week. In July of 2013 there were 41 single family Palo Alto homes sold, a big drop from April, May  and June sales. The prices ranged from $1,250,000 to $5,495,000. No homes under a million is significant and a higher lowest price than June. This is getting to be a common occurrence in Palo Al...
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By Gary Frimann, CRS, GRI, SRES, REALTOR and Broker
(Eagle Ridge Realty / Signature Homes & Estates)
Palo Alto is a high sought after city to live in.  Located at the northern end of Santa Clara County, Palo Alto is where many Silicon Valley executives and workers call home.  It is the city that is headquarters for Hewlett Packard, and it offers a much sought after diserable commute to the tremendous job hubs that comprise SIlicon Valley. Palo Alto is also located near Stanford University, and the university influences much of the town.  Stanford might bring them to Palo Alto, but it is the weather that keeps them there.  Although there may be older homes in some of the neighborhoods, these homes generally command high prices, and are well kept. Search for all Palo Alto homes that are listed on the Multiple Listing Service on the map below:  
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Local martial arts school Santa Clara Kenpo Academy (SCKA) will conduct a self-defense workshop tailored specifically for real estate agents on Saturday, August 24th at their facility on Homestead Road in Santa Clara, CA. This hands-on workshop addresses the unique personal safety threats that agents face in the workplace.  The workshop begins with an overview of basic agent safety methods and jumps straight into self defense techniques that any agent can use once careful planning and other precautions have failed. “The workshop provides agents with the tools to respond to attacks in situations typical to their profession,” explains Sandra Agonoy, Owner and Head Instructor at Santa Clara Kenpo Academy.  The workshop expands upon recent women’s self-defense courses taught by Mrs. Agonoy,...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Most rental property owners eventually face this question – what to do when a tenant breaks something?  Rental properties require constant inspection and maintenance, but some of those costs should be justifiably paid by the tenant when they are clearly responsible. Here are a few tips for dealing with the unfortunate situation of when a tenant breaks something. 1.    Document the problem.  As soon as a problem is discovered, document it with a written preliminary inspection report supported by photos and/or video. 2.    Get written repair quotes.  Depending on the specific problem, you may need to have it inspected by a qualified contractor.  Ask the contractor for a written inspection report and repair quote.  If the quote is over $200 (or another limit you chose), ask for quotes from...
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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, down from 29 last week. There are currently 6 Palo Alto town homes/condos for sale, the same as last week. There are currently 42 pending sales of Palo Alto single family homes, down from 45 last week. There are currently 6 pending sales of Palo Alto Town homes/Condos, down from 7 last week. In July of 2013 there were 41 single family Palo Alto homes sold, a big drop from April, May  and June sales. The prices ranged from $1,250,000 to $5,495,000. No homes under a million is significant and a higher lowest price than June. This is getting to be a common occurrence in Palo Al...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
The Palo Alto home sales report for July 2013 reflects the strong market throughout Silicon Valley and consistently strong demand for Palo Alto housing, both single family homes and condos.  Homes priced below $5M are moving briskly and current value levels are expected to hold through fall. Even though the chart at the end of this report lists the listing price and the final sale price of the homes that sold in July, statistics regarding how many homes sell above or below their listing price or the difference between listing and sale prices have become meaningless.  Listing brokers have historically urged their sellers to ask for slightly higher than the estimated market value in hope of finding a buyer with the desire and ability to pay a little bit more.  But now there is a trend amo...
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Here are my Bay Area real estate market predictions for August 2013.  Rather than quoting statistics and numbers that may not apply to individual buyers, sellers and investors, I’m sharing my general opinion regarding the general Bay Area market and conditions we might expect to see over the next month or so.   Bay Area Home Buying Prediction Home prices shot up in the first half of 2013 due to low interest rates and active competition for the few homes for sale in the neighborhoods most in demand.  Good homes received multiple offers above their asking price, pushing some buyers to the sidelines as they grew weary of being out-bid over and over and over.  The good news is that many potential buyers have opted to continue renting or stay in their present homes until later this fall or s...
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