Palo Alto Open House This Weekend! Location, Location, Location.

Welcome to this lovingly upgraded 2 story Midtown Palo Alto townhome in a fantastic location.  

Exterior View 

OPEN HOUSE THIS SATURDAY AND SUNDAY, 

AUGUST 28 & 29, 1:30-4:30.

ALL VISITORS ENTER TO WIN A $100 TIFFANY'S GIFT CARD!

This home boasts pergo flooring throughout the home, corium kitchen counters, stainless steel appliances, a built in entertainment center, granite faced fireplace, granite vanity top in the half bath, and a spectacular back patio and deck. 

Additionally there is a large kitchen, separate dining room, step down living room, and three bedrooms plus 2.5 baths. The complex has all new hard scape with gorgeous walkways and planters.  


There is also a pool and spa, and underground parking with an elevator to the main level. The HOA fee of $575 covers exterior maintenance including the roof, painting, pool, and landscaping, water and garbage, and earthquake and fire insurance.  

Fantastic schools include Palo Verde Elementary, JLS Middle School, and Palo Alto High School (buyer to verify.) 

Come see this gem, you will not be disappointed!

Mountain View Open House Sat! A Striking Townhome in Whisman Station!

148 Holly Court, Mountain View, CA

EXPERIENCE THE LIGHT.

$585,000

DON'T MISS THE OPEN HOUSE THIS WEEKEND, August 28th.

 Saturday from 1-5PM.

Welcome to this striking townhome in the popular Whisman Station Development. 

You will delight in the modern amenities, convenient location, and wonderful life style options available to you if you live here.

Some of the lovely features include a fenced yard, central heat and air, new carpet and paint, attached 2 car garage, kitchen with granite counters, a center island, and gas stove, family room/kitchen, high ceilings, and, and rich cherry laminate floors.

Add to that wonderful Mountain View Schools and a great community with pools, parks, and easy access to light rail, freeways, and major emplyment centers. Don't miss this wonderful home buying opportunity!

Marcy Moyer
Keller Williams
650-619-9285
marcy@marcymoyer.com
https://twitter.com/marcyagent
DRE # 01191194

Why Don't Banks Act Rationally in a Short Sale?

Why do some short sales get approved, and others rejected? 

Why do some short sales with loans from the same bank get approved while others don’t? 

Why do some short sales with loans by the same bank in the same developments get approved while others are denied?

The world of the short sale is changing on a daily basis, and what you know today will be different tomorrow. The rules change, the players change, the documentation changes every minute.  There is, however, one constant: you do not always know whether a short sale will close or not. 

Two years ago only about 5% were closing, now that number is more like 50%. Still, it's quite risky for buyers and sellers to get their hopes invested in a successful short sale when the odds are 50/50.  There are some things you can do to help insure the process has the best chance of closing. 

In general if the following are true then the chances are better:

1.     The realtors on both ends know what they are doing and have the time, energy, and resources to follow up to set expectations appropriately.  The buyer can not be in a hurry!

2.     The fewer the liens the better. One loan is best, two loans with the same bank is second, two loans with two banks third, two loans with other liens such as taxes are probably not going to work out.

3.     The short sale process was started before a notice of default was filed.

4.     The buyer is well qualified.

5.     The home is owner occupied.

None of these things will guarantee a positive result, but they help.  The biggest problem in the short sale process comes from third parties who are not the bank, but either investors that purchased the loans like hedge funds, or insurance companies who insure the loans for the banks (not mortgage insurance for the borrower). 

These entities can derail a short sale, and it is not possible to know if they exist, or what they will say before the process begins, unless of course you are dealing with a bank approved short sale--but that is a different story.  So the lender may appear to be Bank of America or Chase, but the investor who put up the money maybe someone else and if so they have to agree to the price and terms.  Or sometimes the second lender will get more money in a foreclosure and will not agree to release the lien.  When this happens, what appears to be an irrational move by the bank, may have nothing to do with them.

These are a few of the reasons why seemingly illogical things often happen in the world of short sales. 

Marcy Moyer

Keller Williams Realty

DRE  01191914

marcy@marcymoyer.com

www.marcymoyer.com

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Open House Sat & Sun! Palo Alto Schools, Great Location!

Welcome to this lovingly upgraded 2 story Midtown Palo Alto townhome in a fantastic location.  

Exterior View 

OPEN HOUSE THIS SATURDAY AND SUNDAY, 

AUGUST 21st & 22nd, 1:30-4:30.

ALL VISITORS ENTER TO WIN A $100 TIFFANY'S GIFT CARD!

This home boasts pergo flooring throughout the home, corium kitchen counters, stainless steel appliances, a built in entertainment center, granite faced fireplace, granite vanity top in the half bath, and a spectacular back patio and deck. 

Additionally there is a large kitchen, separate dining room, step down living room, and three bedrooms plus 2.5 baths. The complex has all new hard scape with gorgeous walkways and planters.  


There is also a pool and spa, and underground parking with an elevator to the main level. The HOA fee of $575 covers exterior maintenance including the roof, painting, pool, and landscaping, water and garbage, and earthquake and fire insurance.  

Fantastic schools include Palo Verde Elementary, JLS Middle School, and Palo Alto High School (buyer to verify.) 

Come see this gem, you will not be disappointed!

Palo Alto Ca Market Update, August 8th: Single Family Homes

Who is Selling in Palo Alto This Week?

Active listings:  95

Pending Sales:  50

Our ratios are pretty good again with less than 2 homes for sale for every pending sale.  I decided to do another post on who is selling. I did this once last year and thought it was pretty interesting.

Here is this week’s breakdown:

Owner occupied:  32

Bank owned: 1

Short sale: 0

Tenant occupied: 9

Probate: 0

Vacant: 29

New: 16

Lot value: 3

Stanford affiliates only: 3

In foreclosure but not there yet and not a short sale: 1

This is just a generalization and each situation is different, but generally owners with vacant properties (especially trust and probate sellers) are more flexible on price than owner occupied sellers, who often do not have to move if they do not get an acceptable offer.  Homes with tenants are the hardest to show and often do not look so great so you may be able to get a better deal there.  Also, if a home is in foreclosure but not a short sale you will probably have a very motivated seller.

Happy house hunting!

If you're interested, here's the market update analysis I wrote last year, around this time. 

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285
Twitter

The Bay Area Food Truck Craze: Trend, or Here to Stay?

Food trucks have been all the rage in the San Francisco Bay Area for some time now, and it looks like Palo Alto’s catching on to the trendy new foodie fixation. 

These trucks, which inspire passionate devotion and straight-up wars in the comments sections of websites like Chowhound and Yelp, keep fans on their toes by switching locations often and "tweeting" their whereabouts to followers on Twitter. The sensation is about as Silicon Valley as you can get: local food cooked by creative entrepreneurs who found a way around the shaky economy (food trucks have low overhead and far less risk than a new restaurant), by utilizing popular social media platforms like Facebook and Twitter to connect with existing customers and lure in new ones.

Perhaps the best example of the fanaticism surrounding food trucks is Kogi Korean BBQ. It’s an LA-based Korean/Mexican fusion truck that’s the brainchild of thirty-year old Mark Manguera, who came up with the idea at 4 in the morning after a long night of drinking, while eating (you guessed it!) a taco. His business plan? Buy a truck, get a bunch of friends and family to post about it on Twitter, Facebook and Craigslist, and start cooking. Not long after Kogi’s 2009 opening, the truck began attracting crowds of 300-800 people every time it parked. It’s since launched a satellite truck in Manhattan, and is responsible for a foodie movement known on the web as “Kogi Kulture.”

Most of the Bay Area’s food trucks are located in the Mission District of San Francisco. There’s the “Crème Brulee guy,” who dishes out the French dessert in an ever-changing variety of flavors. Depending on the night the menu might offer Dulche de Leche, Mexican chocolate, vanilla bean, coffee, s’mores, or even Pina Colada. Fans talk of the crème brulee guy’s caramelized custard with a hushed reverence--some describe themselves as stalkers.  Other popular San Francisco/Bay Area trucks include the El Tonayense taco truck, Spencer on the Go Truck (escargot on a stick is one of the premium bistro-menu offerings), Magic Curry Kart, Treatbot (the "Karaoke ice cream truck from the future"), NetAppetit, MoBowl, Lumpia Cart (Filipino egg rolls), Adobo Hobo, and MoGo BBQ. 

Google any of these names and you’ll find the trucks’ Twitter profiles and numerous blog posts either ranting or raving about their menus. Most of them have thousands of followers--yet another example of the way the food industry has tapped into the skyrocketing business potential of social media, providing a perfect model for real estate agents (or really anyone in a service-type industry) who want to turn their online profiles into offline transactions. 

MoGo BBQ is based in Palo Alto, and like the rest of the trucks can only be found via Facebook and Twitter. Like Kogi, MoGo focuses on Mexican/Korean BBQ. Most successful food trucks offer niche products--menus tend to be small, prices are cheap, and the food is easy to eat with your hands. The MoGo menu has five options (Taco, Quesadilla, Short Rib Silders, Bay Area Dog, and Burritos), and you can choose your protein/toppings. Nothing is more than $7.  The truck is less than a year old, and relies exclusively on the hungry residents of Palo Alto and neighboring cities. As of today, MoGo has over 5,000 followers on Twitter (Kogi has 12,000) and 8,000 “likes” on Facebook. It looks like in Palo Alto, the food truck craze might be less a trend and more a permanent change in the way we go “out” to eat. 

*photos courtesy of SFBlog Pavement Cuisine, the fantastic, James Beard Award winning This Week for Dinner, and SFGate 

Mountain View Open House this Sunday (August 8th) 1:30-4:30: Experience the Light!

148 Holly Court, Mountain View, CA

EXPERIENCE THE LIGHT.

$599,000

DON'T MISS THE OPEN HOUSE THIS WEEKEND, August 8th.

 Sunday from 1:30-4:30.

Welcome to this striking townhome in the popular Whisman Station Development. 

You will delight in the modern amenities, convenient location, and wonderful life style options available to you if you live here.

Some of the lovely features include a fenced yard, central heat and air, new carpet and paint, attached 2 car garage, kitchen with granite counters, a center island, and gas stove, family room/kitchen, high ceilings, and, and rich cherry laminate floors.

Add to that wonderful Mountain View Schools and a great community with pools, parks, and easy access to light rail, freeways, and major emplyment centers. Don't miss this wonderful home buying opportunity!

Marcy Moyer
Keller Williams
650-619-9285
marcy@marcymoyer.com
https://twitter.com/marcyagent
DRE # 01191194

A Local's Guide to the Bay Area's Best End of Summer Events, Part 1

 It’s August. I don’t know how it happened, but Labor Day is coming up fast (one month!), which means this summer’s on its final stretch. If you’re anything like me, life doesn’t change much with the seasons--summer just means work with more sun shining through the windows.

But there are still a few weeks left, and tons of great events and concerts scheduled all over the Bay Area. You haven't missed the whole party!  Don’t you owe it to yourself to get out of the office and to connect with the community? Or, if you're less socially-minded, to eat some killer food? 

Here are a handful of August highlights. My apologies if these are skewed toward foodie culture--I’ll include some links at the end of the post for those of you aren’t quite as obsessed with food.

EAT Restaurant at 111 Minna Gallery: Tonight, August 4th, from 5:00-10:00.

One of my favorite things about Palo Alto is that it’s just a quick drive to San Francisco. I might try and make it up there for this one. Eat Restaurant is the city’s only pop-up restaurant (run by chef Tommy Halverson)--it switches venues all the time. Tonight Eat’s at the gorgeous Minna Gallery, and the mouth-watering menu features local, sustainable produce and cocktails developed by San Francisco’s finest mixologists.

Here’s the menu:

$5 SAILOR JERRY RUM COCKTAILS ALL NIGHT!

Creekstone Sliders (2 for $10 from 5pm-6pm): with havarti or blue - $6 each

Nachos: House fried tortilla chips, Carnitas, queso fresco, cilantro-cabbage slaw, black beans, avocado, lime, salsa - $8

"Franks And Beans": Housemade Baked Beans, Whiskey-Fennel Sausage, Bacon, Sweet Roll, Braised Greens - $9

"BBQ" Chicken and Corn: Braised then Seared and Basted Chicken Quarter, Cilantro Wrapped Corn on the Cob, Grilled, then Roasted Potatoes - $10

Red Trout: Dwelley Farms Romano Beans, Blue Lake and Yellow Wax Beans, Ancho Cress, Red Onion - $10

Melon: Compressed Water and Sharlyn Melon, Feta, Basil, Balsamic Redux, Cold Pressed Olive Oil - $9

Panzanella: Heirloom Tomatoes, Levain, Tomato-Sherry Vinaigrette, Wild Arugula, Reggiano - $9

S'mores: Housemade Chocolate Brownie, Graham Cracker Crust, Marshmallow Brulee, Chocolate Sauce - $6

The 16th Annual San Francisco Aloha Festival: August 7th-8th, 10am-5pm

This two day festival celebrates the talents and culture of San Francisco's community of Pacific Islanders. It's a free event, featuring arts and crafts, Polynesian dancing, island cuisine, workshops and educational exhibits, games for kids, and something called an 'Ohana Korner (I'm definitely going to find out what this is). There's no alcohol permitted on premises. This seems like the kind of event that's great for the whole family. 

Off the Grid: Fort Mason Center: August 6th, 5Pm-9Pm

Promo materials are billing this re-occuring event (every Friday throughout August) as a food adventure. Which sounds about right, considering this description: "Off The Grid brings a diverse group of mobile food vendors, with music, to the Marina neighborhood. Enjoy such delights as the Chairman Bao Bun Truck, Kung Fu Tacos, El Porteno Empanadas, Curry Up Now, and Chaac Mool." 

Also, it's in a parking lot. For some reason street food just tastes better when you're standing on concrete. 

FREE Friday Night Concerts at the Santa Cruz Boardwalk: Every Friday thru September 3rd,  6:30PM

The Santa Cruz Boardwalk is one of my favorite places in the Bay Area. It’s the quintessential summer scene--sandy beach, an ocean dotted with surfers, the smell of hot dogs, and that brightly lit Ferris Wheel turning in the background. The bands play right on the beach, and every concert is free. This Friday catch A Flock of Seagulls, followed in the coming weeks by Spin Doctors, Papa Doo Run Run, and Starship.

Taiwanese Dish Crawl: August 10th, 6pm (Cupertino) 

Okay, so I know I've given you three and half food events so far, but here's another local food showdown that sounds particularly noteworthy. For $30, you can join a group of adventurous eaters on a dish crawl through Cupertino. It’s your chance to try Taiwanese food, if you’re unfamiliar with the cuisine. The dish crawl official website offers a hunger-pang inducing description: Taiwanese cuisine has an extremely unique flavour. Dishes range from sticky oyster pancakes with egg and sweet chili sauce to meatballs encased in a mochi-like shell. Sometimes it's the simplicity of a well executed pork chop over rice and served with pickled veggies. If your tastebuds are up for it, you must come explore. ;) $30 for 4+ courses at a few local hidden faves.

Don’t forget to RSVP!

San Jose Super Toy, Comic, and Collectible Show: August 14^th, 11-4, Santa Clara County Fairgrounds

Get in touch with your nerdy side (or make your kids happy) at the annual toy/comic book/vintage collectible bonanza. No seriously, it’s a bonanza--with over 250 tables offering toys and collectibles that range from Transformers and Star Wars figurines to vintage lunch boxes, this event promises to be a wonderland of nostalgia. Tickets are cheap too--five bucks for adults, and kids get in half price.

AT&T San Jose Jazz Festival: August 13-15^th, 5:30-11:45

The San Jose Jazz festival is one of the most exciting and well-attended jazz festivals in the country. Last year over 100,000 people swarmed the Plaza de Cesar Chavez in downtown San Jose to listen to a truly international line-up of musicians. Whether you’re into funk, blues, fusion, Latin, R&B, folk--there’s a band on the schedule for you (Tower of Power is playing the first night!). Check out the official website for online discounts and more information, including past attendee memories of the festival, and the details on joining a Salsa Flash Mob… Tickets go fast!

Shakespeare Santa Cruz: shows run through August 29^th, weekend matinees at 2pm, weeknight shows at 7:30 & 8:00

A couple of years ago I saw the Shakespeare Santa Cruz production of Beckett’s End Game on the mainstage, and couldn’t have been more impressed with the quality of the performances, the gorgeous and bleak set design, and the directorial interpretation of such a difficult play. There’s world-class theater happening right in our neighborhood, and you really shouldn’t miss it--there’s something spectacular about seeing a show outdoors in the Festival Glen, as the sky darkens and the redwoods seem to creep closer to listen. Starting at $15 a pop, tickets are cheap. August offerings include The Lion in Winter (a contemporary family drama), Love’s Labor’s Lost, and the heart-searing Othello.

OTHER EVENT RESOURCES

SFGATE

YELP

PALO ALTO ONLINE

BAY AREA EVENTS

*photos courtesy of Planetware and SFGate Blog 

California Disclosures and Probate Sales

California has very extensive disclosure requirements for residential sales which are of great benefit to the buyer. They are a very good blue print for what kinds of issues need to be disclosed, which is of great benefit for the seller. However, when you’re in charge of selling a home that’s in probate the personal representative for the estate is not required to give some of the California mandated disclosures to the buyer.

The disclosures that are not provided by the personal representative include: The Transfer Disclosure Statement, The Seller’s Questionnaire, Earthquake Hazard Booklet, Earthquake Hazard Questionnaire, the signature on the Natural Hazard Disclosure but the report needs to be provided, and Smoke Detector Compliance.  The personal representative of the estate is not exempt from Lead Based Disclosure, Data Base Disclosure (Megan’s Law), Water Heater Disclosure and strapping, and disclosing anything that is personally known by the representative.

The anything that is known is the big one. It is probably better to do this on a separate addendum rather than just answer a few of the questions on the seller’s disclosure forms. So if you ever lived in the house or spent time there and know something, disclose it. It is so much easier to disclose before the sale, than after in front of an arbitrator or judge.  The estate will thank you!

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285
Twitter

*photo courtesy of Housing Information

To Fix, or Not to Fix: Probate and Trust Sales

If you have been given the responsibility to sell a home through probate or trust there are many things to consider. Today I want to talk about one. 

What should you do to the home to put it on the market? 

There are many right answers to this question, and a few wrong ones as well.  Let’s discuss.

First of all, many homes that are in probates are trusts have been well used. There are often deferred maintenance issues as well as great cosmetic challenges.  If your probate or trust home is in beautiful shape you can skip this blog post. If not, which is more likely, please read on. 

The most important thing to remember is that you should not fix structural problems, just disclose them. The reason for this is that the estate will become responsible if you do something like re-pipe the home, put on a new roof, or upgrade the foundation.  If the contractor does something incorrectly, or without needed permits, the liability to the estate will be on your hands. So just get the home inspected and let the potential buyers know what they are getting into.

A BEFORE PICTURE OF A KITCHEN I WORKED ON WITH MY PARTNER

That said, these homes are often dirty, smelly, ugly, or just outdated.  Very often home appearances are ignored during the end of an owner’s life. It is totally normal and not a moral flaw on anyone’s part, so don’t worry about snarky neighbor,  buyer, or agent’s comments if they occur.  It is perfectly ok, and even beneficial to do some cosmetic upgrades and staging.  

What I tell my clients when I list a probate or trust home is that we are trying to remove the yuck factor. When a potential buyer comes into a home we just do not want them to say “yuck.”  

It is amazing what paint, removing old carpet, and replacing lights and electrical faceplates can do. Paint and an air filter can even help remove the smell of cigarette smoke.  If the home has carpets with smoke smell they will have to be removed. Old fashioned drapes can be removed and modern, inexpensive ones from places like Bed Bath & Beyond can be used.  The kitchen can have old cabinets painted and new hardware installed for a whole new look. Staging is essential and can really change the feel of a home from old and dated to “I can live here.” It does not even have to be in every room, but if you can do the living room and one bedroom even that is a help.

AFTER PHOTO OF KITCHEN

There are plenty of investors in the market who will want to purchase a probate for as little money as possible, but you also want to appeal to the buyer looking for a home to live in. 

By taking away the yuck and replacing it with this looks livable, you will get a much better price for the estate.

Please feel free to contact me if you have any questions about probate or trust sales. I would love to hear from you.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285
Twitter