Why Is A Palo Alto Escrow Like a Teen Romance?

The beginning of a Palo Alto escrow is like the beginning of a teenage romance, everything is perfect. You have found your soul mate and all promises are meant to be kept.  You never dream that your heart will ever be broken. It doesn't matter that one party is a jock and the other an intellectual, one is a Democrat and one a Republican, or one likes to party and the other is a vegan. And then reality sets in. I don't think I have to go into gory detail.  Well, sometimes an escrow is like that but hopefully your escrow will have a better track record than a teenage romance.

One way to help things along is to not set yourself up for failure. If you are a buyer or buyer's agent do not expect to get a loan approval in 15 days if you do not have every document into the lender a head of time. If you are a seller or seller's agent and accepted an FHA loan do not try to make the buyer get approval in 15 days.  If the seller does not get inspections a head of time do not tell the buyer they have 7 days for property contingencies and then start yelling because the property inspector says there is something wrong with the foundation and they need more time for an engineer to look at it.

Bottom line, do not set yourself up for failure by blowing a gasket over unrealistic time frames. Try to make them realistic to begin with so that the parties can succeed rather than fail.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

Do You Care About Your Children?

I am not a lawyer or an accountant so please do not construe this as legal or tax advice. However, friends do not let friends leave their estates to probates, so let’s just say I am your friend.

Trust Sale in Palo Alto

As a realtor who specializes in Probate and Trust sales, it does not matter to me whether the estate is being probated, or passed down through a trust.  But it does matter to the heirs, especially now that the estate tax will kick in after a million dollars starting in January, unless Congress  and the administration change it. How likely is that?  They can not even agree to have dinner together so changing the estate tax exemption any time soon is unlikely.

So as of Jan. 1, 2011 when you die your heirs can get the first one million dollars of your estate tax free, but anything above that will be taxed at 55%.  So let’s say you have a home that is worth 1.2 million and a mortgage of $700,000. The estate will be valued at 1.2 million not $500,000 which is the equity. If you have your estate in trust you can set things up to help reduce the taxes owed. Even if you do not have a mortgage on your home, if you have a home in Palo Alto you are very likely to have an estate worth over a million dollars because of the value of your home.  You will probably benefit by talking to an estate lawyer to help structure things to get the most tax free money for your heirs.  I can give you names of some excellent estate attorneys if you need a referral.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194

LUXURY GILROY SHORT SALE! Open House This Weekend!

DREAM HOME ON THE GOLF COURSE...

Gorgeous 10 year old home with a huge gourmet kitchen, extensive use of granite, slate, marble, and hardwood.  

4 bedrooms plus an office that can be used as a 5th bedroom. Beautiful views of the hills and golf course. Downstairs bedroom and bath. Extraordinary opportunity to live in Eagleridge

OPEN HOUSE THIS WEEKEND SAT 20 /SUN 21 1 - 4

Take a Visual Tour...

Disclosures available at www.marcymoyer.com

OPEN HOUSE THIS WEEKEND! SAT/ SUN 1:30 to 4:30! Check out this lovely PA gem!

VIEWS  SECURITY  LOCATION!!!!!

Welcome to The Palo Alto. This unique condo has a winning combination of security, views and location.  The building has 24 hour security with a front desk concierge and locked doors.  The views from the balcony are spectacular! The downtown location is perfect for those wanting  to be close to the center of everything. There are 2 bedrooms and 2 baths, a cute kitchen with new counters, new carpet, fresh paint, central heat and air, 1,200 square feet of living space (per county records)  and a large balcony, with a portion  of balcony off the master that is enclosed.  Fabulous Palo Alto schools including Addison, Jordan, and Palo Alto High. (buyer to verify) Come see how living in Palo Alto can be easy and beautiful!

Attractively Priced at $560,000.

Marcy Moyer

Keller Williams Realty

marcy@marcymoyer.com

www.marcymoyer.com

650-619-9285

D.R.E. 01191194

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Trust and Probate Sales

Palo Alto Ca Condo: Location, Views, Security!

VIEWS  SECURITY  LOCATION!!!!!

Welcome to The Palo Alto. This unique condo has a winning combination of security, views and location.  The building has 24 hour security with a front desk concierge and locked doors.  The views from the balcony are spectacular! The downtown location is perfect for those wanting  to be close to the center of everything. There are 2 bedrooms and 2 baths, a cute kitchen with new counters, new carpet, fresh paint, central heat and air, 1,200 square feet of living space (per county records)  and a large balcony, with a portion  of balcony off the master that is enclosed.  Fabulous Palo Alto schools including Addison, Jordan, and Palo Alto High. (buyer to verify) Come see how living in Palo Alto can be easy and beautiful!

Attractively Priced at $560,000.

Marcy Moyer

Keller Williams Realty

marcy@marcymoyer.com

www.marcymoyer.com

650-619-9285

D.R.E. 01191194

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Trust and Probate Sales

Silicon Valley Trust Sales: What is a Notice of Proposed Action?

What is a Notice of Proposed Action in a Silicon Valley Trust Sale?

If you are a trustee selling a Santa Clara or San Mateo County Trust sale, or a potential purchaser of a trust sale you will probably encounter a Notice of Proposed Action. What is it? The successor trustee has the right  and power to sell property left in a trust to be distributed to the heirs. The trustee chooses the agent to list the property, and is responsible for handling the details of the sale. However, in order to accept an offer from a potential buyer the heirs to the estate have to confirm that they agree to the price and terms of the offer. Usually they do and the sale proceeds, but if there is an objection then the trustee must go to court and get the objection heard and settled by consent of the heir, or order of the judge, in order for the sale to proceed.  Obviously this will delay the close and must be included as a contingency for the seller. This is very rare, but it can happen occasionally, so be prepared.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E.  01191194

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Trust and Probate Sales

BIG SUR HALF MARATHON

Look for me this Sunday and you will find me here...

...Running the Big Sur Half Marathon.   This is a bit of a misnomer as the race actually takes place in Monterey and the surrounding area.   The race begins on Del Monte Avenue in Monterey and passes by some of my favorite spots in all of California...Fisherman's Wharf, Cannery Row, and the Monterey Bay aquarium.

After that's it's onto Pacific Grove, up to the Point Pinos Lighthouse and then back to the Wharf for the award ceremony and hot minestrone soup.    Normally when I go to Monterey I prefer clam chowder, but after running a half marathon that doesn't sound too appealing.

I'm told people tend to take longer running this marathon than others, because of how often they stop to take pictures!  And I can believe it, because it's truly one of the most beautiful places in the state.  

Trust and Probate Disclosures in Santa Clara and San Mateo Counties

When you sell or purcahse a trust or probate sale, the disclosures are not the same as in a standard equity sale. The basic premise is that while the trustee or personal representative in the case of a probate does not fill out a Transfer Disclosure Statement or Seller's questionnaire, if that person knows anything about the house it needs to be disclosed.  It can go on a separate addendum but can not be hidden.  This is especially true if that person lived in the home with the person who has died, like a child, or other relative.  There are CAR forms which should be used, The Probate Advisory or the Trust Advisory,  that spell out which disclosures are exempt, and which are not.

The trustee or personal representative are exempt from filling out the TDS, Seller's supplemental or questionnaire, They do not have to sign a Natural Hazard Report or provide a Mello Roos Report. They do not need to provide smoke detectors. they do not need to provide the Hazard Booklet.

They do need to provide a Natural Hazard Report, strap the water heater, provide  a lead based paint disclosure, Data Base Disclosure, and FIRPTA.

I hope this clears it up and that you do not find anything terrible lurking behind the curtain. Please feel free to contact me if you have any questions.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy(At)marcymoyer(Dot)com

D.R.E. 01191194

650-619-9285

Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Trust and Probate Sale

Gilroy Ca Luxury Short Sale

DREAM HOME ON THE GOLF COURSE...

Gorgeous 10 year old home with a huge gourmet kitchen, extensive use of granite, slate, marble, and hardwood.  

4 bedrooms plus an office that can be used as a 5th bedroom. Beautiful views of the hills and golf course. Downstairs bedroom and bath. Extraordinary opportunity to live in Eagleridge

OPEN HOUSE THIS WEEKEND SAT/SUN 1 - 4

Take a Visual Tour...

Disclosures available at www.marcymoyer.com

Today why don't you...

VOTE PLEASE.