Monday, April 14, 2014

Menlo Park Ca Real Estate Market Update 4/13/14

As a Menlo Park Real Estate Agent I am always being asked, "How's the market in Menlo Park?" The answer is simple:

Not enough inventory, plenty of buyers.

There are currently 19 single family Menlo Park homes for sale down from 20 last week.

There are currently 4 Menlo Park town homes/condos down from 6 last week.

There are currently 34 pending sales of Menlo Park single family homes up from 24 last week.

There are currently 4 pending sales of Menlo Park homes/Condos  up from 2 last week.

This week there were 8 new Menlo Park single family home listings and 1 new Menlo Park condo listings. Not nearly enough to satisfy demand but hopefully more are on the way and it is an increase from last week.

In March of 2014 there were 26 single family Menlo Park homes sold ranging in price from $442,000 to $4,873,050.  In March of 2013 there were 9 Menlo Park Town Homes/Condos sold.   The prices ranged from $673,000 to $1,335,000. 

Of the 26 Menlo Park sales in March of 2014 only 8 were sold with all cash, the other 18 were financed. This is a very good number of financed offers because it means that the buyers actually live in this country and the houses will be occupied by either home owners or tenants. There have been a number of homes that are bought with cash by people from other countries and are often left vacant. This does not help the current housing crunch with our huge need for both owner occupied and rental properties. Of the 9 condos sold, 3 were all cash, or about 33%.

The inventory of single family homes for sale in Menlo Park is still at historically low levels and shows no sign of geting better. At least there was a jump in condo listings.  If you would like to search for homes for sale please click here.

If you have any questions about buying or selling a home in Menlo Park please feel free to contact me.

Marcy Moyer
marcy@marcymoyer.com
Ca B.R.E. 01191194
650-619-9285

Palo Alto Ca Real Estate Market Update 4/13/2014

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 41 single family Palo Alto homes for sale, up from 28 last week
.
There are currently 3 Palo Alto town homes/condos for sale, down from 4 last week.

There are currently 39 pending sales of Palo Alto single family homes up from 28 last week.

There are currently 9 pending sales of Palo Alto Town homes/Condos down from 11 last week.

Last week there were 19 new Palo Alto single family home listings and 2 new Palo Alto condo listings. This is the largest number of new listings for single family homes all year.  

In March. of 2014 there were 23 single family Palo Alto homes sold.  The prices ranged from $1,550,000  to $7,500,000. The home for 1,550,000 was an off market sale. Of the 23 sales 10 were all cash. That is a very high percentage.  Most of the cash sales were wither at the very high end or tear downs so that is not too unusual. 

In March of 2014 there were 13 Palo Alto Town Homes/Condos sold,   The prices ranged from $575,000 to $2,050,000. Eleven of these sales were financed and 2 were cash. It appears that condos in Palo Alto are not considered great investments by cash investors.

Traditionally the market picks up in March and April and we are seeing flickers of that. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation.   If you would like to search for Palo Alto homes for sale please click here.

If you have any questions about buying or selling a home in Palo Alto please feel free to contact me.
Marcy Moyer
marcy@marcymoyer.com
Ca B.R.E. 01191194
650-619-9285

Tuesday, April 8, 2014

Menlo Park Real Estate Market Update 4/6/2014

As a Menlo Park Real Estate Agent I am always being asked, "How's the market in Menlo Park?" The answer is simple:

Not enough inventory, plenty of buyers.

There are currently 20 single family Menlo Park homes for sale down from 26 last week.

There are currently 6 Menlo Park town homes/condos up from 4 last week.

There are currently 26 pending sales of Menlo Park single family homes the same as last week.

There are currently 2 pending sales of Menlo Park homes/Condos  down from 8 last week.

This week there were 4 new Menlo Park single family home listings and 1 new Menlo Park condo listings. Not nearly enough to satisfy demand but hopefully more are on the way. 

In March of 2014 there were 26 single family Menlo Park homes sold ranging in price from $442,000 to $4,873,050.  In March of 2013 there were 9 Menlo Park Town Homes/Condos sold.   The prices ranged from $673,000 to $1,335,000. 

Of the 26 Menlo Park sales in March of 2014 only 8 were sold with all cash, the other 18 were financed. This is a very good number of financed offers because it means that the buyers actually live in this country and the houses will be occupied by either home owners or tenants. There have been a number of homes that are bought with cash by people from other countries and are often left vacant. This does not help the current housing crunch with our huge need for both owner occupied and rental properties. Of the 9 condos sold, 3 were all cash, or about 33%.

The inventory of single family homes for sale in Menlo Park is still at historically low levels and shows no sign of geting better. At least there was a jump in condo listings.  If you would like to search for homes for sale please click here.

If you have any questions about buying or selling a home in Menlo Park please feel free to contact me.

Marcy Moyer
marcy@marcymoyer.com
Ca B.R.E. 01191194
650-619-9285

Palo Alto Ca Real estate Market Update 4/6/2014

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, up from 25 last week
.
There are currently 4 Palo Alto town homes/condos for sale, down from 6 last week.

There are currently 28 pending sales of Palo Alto single family homes down from 31 last week.

There are currently 11 pending sales of Palo Alto Town homes/Condos up from 8 last week.

Last week there were 8 new Palo Alto single family home listings and 1 new Palo Alto condo listings. This is the first time in a month that the number of new listings went down. It may be because it was spring break for the Palo Alto School district.

In March. of 2014 there were 23 single family Palo Alto homes sold.  The prices ranged from $1,550,000  to $7,500,000. The home for 1,550,000 was an off market sale. Of the 23 sales 10 were all cash. That is a very high percentage.  Most of the cash sales were wither at the very high end or tear downs so that is not too unusual. 

In March of 2014 there were 13 Palo Alto Town Homes/Condos sold,   The prices ranged from $575,000 to $2,050,000. Eleven of these sales were financed and 2 were cash. It appears that condos in Palo Alto are not considered great investments by cash investors.

Traditionally the market picks up in March and April and we are seeing flickers of that. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation.   If you would like to search for Palo Alto homes for sale please click here.

If you have any questions about buying or selling a home in Palo Alto please feel free to contact me.
Marcy Moyer
marcy@marcymoyer.com
Ca B.R.E. 01191194
650-619-9285

Monday, March 31, 2014

Menlo Park Ca Real Estate Market Update Marcy 30, 2014


As a Menlo Park Real Estate Agent I am always being asked, "How's the market in Menlo Park?" The answer is simple:

Not enough inventory, plenty of buyers.

There are currently 26 single family Menlo Park homes for sale up from 22 last week.

There are currently 4 Menlo Park town homes/condos the same as last week.

There are currently 26 pending sales of Menlo Park single family homes down from 26 last week.

There are currently 8 pending sales of Menlo Park homes/Condos  down from 9 last week.

This week there were 7 new Menlo Park single family home listings and 1 new Menlo Park condo listings. Not nearly enough to satisfy demand but hopefully more are on the way. 

In Feb. of 2014 there were 17 single family Menlo Park homes sold ranging in price from $1,041,000 to $3,650,000.  In Feb of 2013 there were 4 Menlo Park Town Homes/Condos sold.   The prices ranged from $545,000 to $1,551,000. 

Of the 17 Menlo Park sales in January of 2014 only 6 were sold with all cash, the other 11 were financed. This is a very good number of financed offers because it means that the buyers actually live in this country and the houses will be occupied by either home owners or tenants. There have been a number of homes that are bought with cash by people from other countries and are often left vacant. This does not help the current housing crunch with our huge need for both owner occupied and rental properties.

The inventory of single family homes for sale in Menlo Park is still at historically low levels and shows no sign of geting better. At least there was a jump in condo listings.  If you would like to search for homes for sale please click here.

If you have any questions about buying or selling a home in Menlo Park please feel free to contact me.

Marcy Moyer
marcy@marcymoyer.com
Ca B.R.E. 01191194
650-619-9285

Palo Alto Ca Real Estate Market Update 3/29/2014


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 25 single family Palo Alto homes for sale, the same as last week
.
There are currently 6 Palo Alto town homes/condos for sale, up from 3 last week.

There are currently 31 pending sales of Palo Alto single family homes up from 20 last week.

There are currently 8 pending sales of Palo Alto Town homes/Condos down from 10 last week.

Last week there were 12 new Palo Alto single family home listings and 3 new Palo Alto condo listings. That is a jump over the last 3 weeks and hopefully a trend.

In Feb. of 2014 there were 17 single family Palo Alto homes sold.  The prices ranged from $1,225,000  to $6,0000,000. The lot on the 1.2 mil sale was less than 3000 square feet. Of the 17 sales only 9 were all cash which is not a healthy sign that the sales of Palo Alto homes are not being purchased by foreign investors. However, most of the cash sales were wither at the very high end or tear downs so that is not too unusual. 

In Feb. of 2014 there were 4 Palo Alto Town Homes/Condos sold,   The prices ranged from $1,255,000 to $1,410,000. Two of these sales were financed and 2 were cash. One of the cash sales was for a condo in a senior development so it is typical for there not to loans on those.

Traditionally the market picks up in March and April and we are seeing flickers of that. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation.   If you would like to search for Palo Alto homes for sale please click here.

If you have any questions about buying or selling a home in Palo Alto please feel free to contact me.
Marcy Moyer
marcy@marcymoyer.com
Ca B.R.E. 01191194
650-619-9285

Wednesday, March 26, 2014

How Much Over List Price Are Sunnyvale Condos Selling for in 2014?

Sunnyvale Multiple offers
Anyone trying to buy a condo in Sunnyvale right now knows that it is tough out there. There are many more buyers than sellers and many Sunnyvale 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 Sunnyvale 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 Sunnyvale condo in a multiple offer situation,
1. In my opinion the most important thing is, how much is this home worth to you? In other words, what price would you offer so that if it sold for $1000 more you would not be sorry because you do not want to pay that much. It may be that you would pay more than your offer if you could, but you can't so you are just doing your best. But if that is not the case you need to decide how much the house is worth to you so that if you do not get it you will not have regrets.
2. How is the asking price of this home compared to market value? If the house is listed low it will get multiple offers and sell for much more. If it is listed at or above market value it will not. This is not rocket science. Figuring out market value can be a little tricky since there are many variables, and the market is a moving target, but a good Sunnyvale real estate agent should be able to help you analyze comps. Once you know the market value you will have to offer more in an appreciating market like we are in now. Sorry, but that is the truth.
3. What is the style of the listing agent? Does he or she like to list homes very low to get as many multiple offers as possible on their Sunnyvale listings? Does the agent over value a home to try to get more money for their client, or just try to win out on a competitive listing? Does the agent like to work with multiple counter offers, or accept the the first best offer?  Your agent should be able to give you insight into what other Sunnyvale real estate agents like to do.
 
In the end, the final offer price and terms will be your decision, but if you have a great Sunnyvale real estate agent he or she can help guide you through the murky waters of Sunnyvale multiple offers.
If you have any questions about buying or selling a home in Sunnyvale please feel free to contact me.
If you would like to search for homes for sale in Sunnyvale click here.
 
Marcy Moyer
marcy@marcymoyer.com
Ca B.R.E. 01191194
650-619-9285

Tuesday, March 25, 2014

Mountain View Ca. Multiple Offers: the Facts

Mountain View multiple offers
Anyone trying to buy a home in Mountain View right now knows that it is tough out there. There are many more buyers than sellers and many Mountain View homes 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 Mountain View 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 Mountain View home in a multiple offer situation,
1. In my opinion the most important thing is, how much is this home worth to you? In other words, what price would you offer so that if it sold for $1000 more you would not be sorry because you do not want to pay that much. It may be that you would pay more than your offer if you could, but you can't so you are just doing your best. But if that is not the case you need to decide how much the house is worth to you so that if you do not get it you will not have regrets.
2. How is the asking price of this home compared to market value? If the house is listed low it will get multiple offers and sell for much more. If it is listed at or above market value it will not. This is not rocket science. Figuring out market value can be a little tricky since there are many variables, and the market is a moving target, but a good Mountain View real estate agent should be able to help you analyze comps. Once you know the market value you will have to offer more in an appreciating market like we are in now. Sorry, but that is the truth.
3. What is the style of the listing agent? Does he or she like to list homes very low to get as many multiple offers as possible on their Mountain View listings? Does the agent over value a home to try to get more money for their client, or just try to win out on a competitive listing? Does the agent like to work with multiple counter offers, or accept the the first best offer?  Your agent should be able to give you insight into what other Mountain View real estate agents like to do.
 
In the end, the final offer price and terms will be your decision, but if you have a great Mountain View real estate agent he or she can help guide you through the murky waters of Mountain View multiple offers.
If you have any questions about buying or selling a home in Mountain View please feel free to contact me.
If you would like to search for homes for sale in Mountain View click here.
 
Marcy Moyer
marcy@marcymoyer.com
Ca B.R.E. 01191194
650-619-9285

Menlo Park Ca Real Estate Market Update 3/22/2014

As a Menlo Park Real Estate Agent I am always being asked, "How's the market in Menlo Park?" The answer is simple:

Not enough inventory, plenty of buyers.

There are currently 22 single family Menlo Park homes for sale the same as last week.

There are currently 4 Menlo Park town homes/condos the same as last week.

There are currently 29 pending sales of Menlo Park single family homes the same as last week.

There are currently 9 pending sales of Menlo Park homes/Condos  the same as last week.

This week there were 6 new Menlo Park single family home listings and 1 new Menlo Park condo listings. Not nearly enough to satisfy demand but hopefully more are on the way. It is very odd that everything is exactly as last week.

In Feb. of 2014 there were 17 single family Menlo Park homes sold ranging in price from $1,041,000 to $3,650,000.  In Feb of 2013 there were 4 Menlo Park Town Homes/Condos sold.   The prices ranged from $545,000 to $1,551,000. 

Of the 17 Menlo Park sales in January of 2014 only 6 were sold with all cash, the other 11 were financed. This is a very good number of financed offers because it means that the buyers actually live in this country and the houses will be occupied by either home owners or tenants. There have been a number of homes that are bought with cash by people from other countries and are often left vacant. This does not help the current housing crunch with our huge need for both owner occupied and rental properties.

The inventory of single family homes for sale in Menlo Park is still at historically low levels and shows no sign of geting better. At least there was a jump in condo listings.  If you would like to search for homes for sale please click here.

If you have any questions about buying or selling a home in Menlo Park please feel free to contact me.

Marcy Moyer
marcy@marcymoyer.com
Ca B.R.E. 01191194
650-619-9285

Palo Alto Ca Real Estate Market Update March 22, 2014

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 32 single family Palo Alto homes for sale, up from 25 last week
.
There are currently 5 Palo Alto town homes/condos for sale, up from 3 last week.

There are currently 19 pending sales of Palo Alto single family homes down from 20 last week.

There are currently 10 pending sales of Palo Alto Town homes/Condos the same as last week.

Last week there were 14 new Palo Alto single family home listings and 4 new Palo Alto condo listings. That is a big jump over the last 3 weeks and hopefully a tred.

In Feb. of 2014 there were 17 single family Palo Alto homes sold.  The prices ranged from $1,225,000  to $6,0000,000. The lot on the 1.2 mil sale was less than 3000 square feet. Of the 17 sales only 9 were all cash which is not a healthy sign that the sales of Palo Alto homes are not being purchased by foreign investors. However, most of the cash sales were wither at the very high end or tear downs so that is not too unusual. 

In Feb. of 2014 there were 4 Palo Alto Town Homes/Condos sold,   The prices ranged from $1,255,000 to $1,410,000. Two of these sales were financed and 2 were cash. One of the cash sales was for a condo in a senior development so it is typical for there not to loans on those.

Traditionally the market picks up in March and April and we are seeing flickers of that. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation.   If you would like to search for Palo Alto homes for sale please click here.

If you have any questions about buying or selling a home in Palo Alto please feel free to contact me.
Marcy Moyer
marcy@marcymoyer.com
Ca B.R.E. 01191194
650-619-9285

Friday, March 21, 2014

How Much Over List Price Are Mountain View Condos Selling for in 2014?

Mountain View multiple offers
Anyone trying to buy a condo in Mountain View right now knows that it is tough out there. There are many more buyers than sellers and many Mountain View 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 Mountain View 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 Mountain View condo in a multiple offer situation,
1. In my opinion the most important thing is, how much is this home worth to you? In other words, what price would you offer so that if it sold for $1000 more you would not be sorry because you do not want to pay that much. It may be that you would pay more than your offer if you could, but you can't so you are just doing your best. But if that is not the case you need to decide how much the house is worth to you so that if you do not get it you will not have regrets.
2. How is the asking price of this home compared to market value? If the house is listed low it will get multiple offers and sell for much more. If it is listed at or above market value it will not. This is not rocket science. Figuring out market value can be a little tricky since there are many variables, and the market is a moving target, but a good Mountain View real estate agent should be able to help you analyze comps. Once you know the market value you will have to offer more in an appreciating market like we are in now. Sorry, but that is the truth.
3. What is the style of the listing agent? Does he or she like to list homes very low to get as many multiple offers as possible on their Mountain View listings? Does the agent over value a home to try to get more money for their client, or just try to win out on a competitive listing? Does the agent like to work with multiple counter offers, or accept the the first best offer?  Your agent should be able to give you insight into what other Mountain View real estate agents like to do.
 
In the end, the final offer price and terms will be your decision, but if you have a great Mountain View real estate agent he or she can help guide you through the murky waters of Mountain View multiple offers.
If you have any questions about buying or selling a home in Mountain View please feel free to contact me.
If you would like to search for homes for sale in Palo Alto click here.
 
Marcy Moyer
marcy@marcymoyer.com
Ca B.R.E. 01191194
650-619-9285