Why Do I Have to Wait So Long To Make An Offer on a San Jose Probate?

The San Jose real estate market is hot. Homes go on the market and are sold a few days later, usually with multiple offers. They will often be open over a week-end and then offers will be presented on the following Tuesday or Wednesday. But if the home is a San Jose probate sale, it often takes longer. Why is that?

The answer is not always the same, and some San Jose probate sales will sell quickly, but most go through a process that is longer than the typical traditional resale. The main reason is that the Personal Representative for the San Jose Probate sale either needs to take the home to court for confirmation, or is trying to avoid taking the home to court for confirmation.

Here is how it works:

Court Confirmation Required:

The administrator of the estate is not given full authority by the Probate Court to sell the home. He or she can arrange for the home to go on MLS and can accept an offer, but that offer must be taken to Probate Court and at that time, other potential buyers have the opportunity to make non contingent offers on the home at a higher price than the original accepted offer. This way, the court can prove to all heirs that the home had full exposure to the market and is being sold at the highest price and best terms possible. None of the heirs can say everything was not done to get the most for the house.

Court Confirmation May Not Be Required

The Personal Representative of the San Jose Probate sale has full authority to sell the home. He or she can hire a real estate agent, accept an offer, and then send out a Notice of Proposed Action. A Notice of Proposed Action tells the heirs that the home is going to be sold for the accepted amount and they have a specific time period to object if they do not think the sale should go through. If there are no objections to the San Jose Probate sale, it will go through. If there are, the San Jose Probate home must go through the same court confirmation process as above. It is much easier for the Personal Representative for a 

San Jose Probate sale to prove the offer is the best they will get by having full exposure of the house to the open market. It is very difficult to prove in court that 4 days on the market is full exposure. I always have my San Jose Probate sales on the market for 2 week-ends of open houses before offers are reviewed. I have done this in good markets and bad, and have yet to get an objection on the Notice of Proposed Action.

So if you are selling a San Jose Probate home, it is safer to have the home on the market for a longer than average marketing time to help prevent objections. If you are buying a San Jose probate home be happy that you have some extra time to make this big decision.

If you have any questions about buying or selling a Probate home in San Jose please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

DRE 01191194

650-619-9285

Santa Clara Ca Market Update 5/23/2013

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

Not enough inventory, plenty of buyers.

There are currently 32 single family Santa Clara homes for sale, down from 50 last week.

There are currently 27 Santa Clara town homes/condos for sale, up from 23 last week.

There are currently 82 pending sales of Santa Clara single family homes, up from 56 last week.

There are currently 40 pending sales of Santa Clara town homes/Condos, down from 46 last week.

In April of 2013 there were 39 single family Santa Clara homes sold, 3 less than the number in March.,  ranging in price from $540,000 to $1,250,000. This shows an increase in price range of 10% for the lowest priced home sold. The highest is the same as March.

In April of 2013 there were 27 Santa Clara Town Homes/Condos sold, only one more than in March.  They ranged in price from $225,000 to $805,000. Again the low end is about 10% higher and the high end about the same. what is more significant is that the lowest priced condo at $225,000 was a short sale so the contract date was many months earlier. The lowest priced traditional sale was $275,000.  The lowest price traditional sale in March was $225,000. This shows over a 20% increase in the low end.

Santa Clara defied expectations this week by having more active condos on the market than last week. However, there was a steep drop in single family home listings due to the holiday week-end. Hopefully as more homeowners come out from being underwater (owing more on their home than it is worth) more sellers will be able and willing to sell.

If you would like to search for homes for sale please feel free to visit my website for a custom search.

http://marcymoyer.com/OnlineSearchRequest2?operation=choose_mls&timestamp=1359953266454

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

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Mountain View Ca Real Estate Market Update 5/25/2013

There are currently 20 single family Mountain View homes for sale,  down from 26  last week.

There are currently 18 Mountain View town homes/condos for sale,  down from 22 last week.

There are currently 36 pending sales of Mountain View single family homes,  up from 29 last week.

There are currently 37 pending sales of Mountain View Town homes/Condos, down from from 44 last week.

In April, 2013 there were 18 single family Mountain View homes sold ranging in price from $705,000 to $1,900,000.  The volume was the same and the low end is about the same as Feb and March, but the high end is significantly higher..

In April, 2013  there were 32 Mountain View Town Homes/Condos sold ranging in price from $305,000 to $1,210,000. There were almost twice as many sales in April as in March, which is good, but the lowest price condo sold 10% over the lowest price in March.

The inventory is down this week as expected as it is a holiday week-end. I would like to see at least 40 single family homes for sale and at least 60 condos for sale at any given week. I think as the summer goes on it may still be possible. In some communities such as Palo Alto and Menlo Park there are many empty nestors who would be selling, but do not because their grown children come back to live with them. This is not the case for a Mountain View condo. Many condo owners who would have sold to move up were not able to when prices were below their original purchase price. Appreciation has wiped out that problem, so hopefully we see more condo sellers soon.

If you would like to search for homes for sale please feel free to visit my website for a custom search.

http://marcymoyer.com/OnlineSearchRequest2?operation=choose_mls&timestamp=1359953266454

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

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Palo Alto Ca Real Estate Market Update 5/25/2013

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 27 single family Palo Alto homes for sale down from 39 last week.

There are currently 4 Palo Alto town homes/condos for sale, down from 9 last week.

There are currently 37 pending sales of Palo Alto single family homes, up from 28 last week.

There are currently 15 pending sales of Palo Alto Town homes/Condos, up from 11 last week.

In April of 2013 there were 46 single family Palo Alto homes sold, about 50% more than in March. The prices ranged from $1,050,000 to $10,000,000. No homes under a million is significant.

In April of 2013 there were 9 Palo Alto Town Homes/Condos sold, down 3 from March.  The prices ranged from $785,000 to $1,350,000. This is a high starting price point for condos as well. 

This week the lowest price listing of a single family home is $1,099,000 which is higher that the lowest priced sale in April. Since most homes get multiple offers and sell higher than list price it is reasonable to expect that the lowest priced sale could be over $100,000 higher than the lowest sale  in all of April. In other words, the market is still appreciating.

It is Memorial Week-end so this drop was expected. New listings rarely come on the market on holiday week-ends. The fact that all the pending sales are up mean the market is still quickly absorbing homes that do come on the market.  However, I think that June and July may see weekly homes in the 40's as more sellers seem to coming into the market. If you would like to search for homes for sale please feel free to visit my website for a custom search.

http://marcymoyer.com/OnlineSearchRequest2?operation=choose_mls&timestamp=1359953266454

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

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

How Much Does It Cost to Buy A Home in Menlo Park, Ca?

As a Menlo Park Real Estate Agent I am often asked, "How much does it cost to buy a home in Menlo Park? This chart tells the story of single family home sales in 2013 in Menlo Park.

Lots of interesting information here. First of all, nothing in Belle Haven sold under $300,000. That is a milestone. There was a City of Menlo Park sale below market rate house that sold for $295,000 but the lowest price fair market price home was $324,000. The next lowest price was $355,000. The days of buying a home in Menlo Park under $300,000 are long gone.

The next interesting fact is that most of the homes sold in Menlo Park in 2013 were sold between $400,000 and $2,000,000. 72 of the 110 single family Menlo Park homes sold in 2013 were purchased between $400,000 and $2,000,000.

There were 24 homes sold in Menlo Park between two million and three million and 10 homes between 3 and 5 million.

If you look at homes sold only in the Menlo Park or Las Lomitas school districts the chart looks like this:

You can see that the lowest priced home you could buy in Menlo Park with Menlo Park or Menlo Park schools, as opposed to Redwood City or East Palo Alto schools was $850,000. Only 3 homes sold under $1,000,000. 46 homes sold under 2 million dollars and 34 sold over 2 million.

What does this all mean for someone trying to buy a home in Menlo Park?


Here are my thoughts:

1. It's not cheap.

2. Only 80 homes sold in Menlo Park with Menlo Park or Las Lomitas schools compared to 135 that sold with Palo Alto schools. In Palo Alto 3 homes sold under a million, the same as in Menlo Park, and 8 homes sold over 5 million, unlike Menlo Park which had none. While more homes sold in Palo Alto, Menlo Park has a little less competition.

3. The average price per square foot to buy a home in Menlo Park with Menlo Park or Las Lomitas schools is $891,971. In Palo Alto is is $1,141.42. Both cities have average lot size of homes sold at 8,578 in Menlo Park vs 8,962 in Palo Alto so in general homes in Menlo Park are less expensive.

4. The average list price to sale price in Menlo Park is $1,954,749 iist $2,048,101 sold compared to $2,381,202 list and $2,524,777 sold in Palo Alto. This is important information when you are making an offer in Menlo Park. In other words the price you pay over list is a smaller percentage than you have to pay in Palo Alto.


If you are buying a home in Menlo Park you will need to pay over a million dollars and on average about $2,000,000. You will often have to pay over list price, but depending on the list price it is on average only about 5% over list. If you are looking in the 1 to 2 million price range there will be on average 10 homes a month that come on the market.

The stats are nothing for Menlo Park buyers to celebrate, but there is no need to cry either.
If you have any questions about buying or selling a home in Menlo Park please feel free to contact me.

Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
D.R.E. 01191194
650-619-9285

Menlo Park Real Estate Market UPdate 5/19/2013

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 39 single family Menlo Park homes for sale
There are currently 10 Menlo Park town homes/condos for sale.
There are currently 47 pending sales of Palo Alto single family homes.
There are currently 6 pending sales of Palo Alto Town homes/Condos.

In April of 2013 there were 30 single family Menlo Park homes sold.  The prices ranged from $495,000 to $4,275,000. The lowest priced home in Belle Haven being almost $500,0000 is significant and shows that the market is up. If you look at just the Menlo Park homes with Menlo Park schools the lowest price in April was $1,075,000. No homes under a million in this category is also very significant.

In April of 2013 there were 6 Menlo Park Town Homes/Condos sold.   The prices ranged from $390,000 to $1,225,000. This is a high starting price point for condos as well. The lowest price condo that is not senior only housing was $700,000 for a 2 bedroom in Sharon Park.

This week the lowest price listing of a single family home is $1,099,000 which is higher that the lowest priced sale in April. Since most homes get multiple offers and sell higher than list price it is reasonable to expect that the lowest priced sale could be over $100,000 higher than the lowest sale in all of April. In other words, the market is still appreciating.

The inventory of single family homes for sale in Menlo Park is at historically low levels. I am hoping that as the summer progresses we will have more inventory.  If you would like to search for homes for sale please feel free to visit my website for a custom search.

http://marcymoyer.com/OnlineSearchRequest2?operation=choose_mls&timestamp=1359953266454

If you have any questions about buying or selling a home in Menlo Park please feel free to contact me.
Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
D.R.E. 01191194
650-619-9285

Should I Have a Foundation Inspection On A Portola Valley Home?

As a Portola Valley Real Estate Agent I am often asked "should I have an inspection on the foundation of the home I am buying in Portala Valley? The answer is always YES. The home in question may have a property inspection that does not sound alarming and home may even be a new home, but if you are buying a home in Portola Valley the answer is YES.

Portola Valley is a wonderful community with beautiful views, great schools, ample recreational activities, a pleasant shopping area, and a close knit community. The competition for homes to buy is much less than in neighboring Menlo Park or Palo Alto, but it is hilly, and close to the San Andreas Fault. Buying a home in Portola Valley is not cheap, and if you are spending over a million dollars at the bottom end, and up to twenty million on the top end, you should make sure you have as much information as possible.

Buying a home in Portola Valley that is on a hillside is not dangerous, but there are problems that can occur with the soil on the property as well as the foundation itself. A good foundation inspector will be able to tell you if he/she sees active or potential problems and how to mitigate those problems after you buy the Portola Valley home.


Some basic inofrmation you will get is:

1. Is the home bolted to the foundation to prevent problems from lateral sway in an earthquake?
2. Are the cripple walls braced to prevent problems from the height differential in the foundation in an earthquake?
3. Are the piers lined up and properly braced to prevent sinking in an earthquake?
4. Is the drainage directing water away from the home to protect the foundation from water damage?
5. Does the soil around the home appear stable, or does it seem to indicate soil creep?
6. Does the Hillside appear stable or are their signs of active or recent mud slides or land slides?
There are many other things the foundation inspector can discover during an inspection but the 2 most basic question you need answered when buying a home in Portola Valley is "Is there a good chance this home will survive an earthquake and is there a good chance this home will not be subject to a landslide or mudslide?

If the answer to those questions is yes, then you can look forward to a wonderful life after you buy a
home in Portola Valley.

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

Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
DRE 01191194
650-619-9285

Santa Clara Ca Real Estate Market Update 5/18/2013

As a Santa Clara Real Estate Agent I am always being asked, "How's the market in Santa Clara?" The answer is simple:
Not enough inventory, plenty of buyers.

There are currently 50 single family Santa Clara homes for sale, up from 46 last week.
There are currently 23 Santa Clara town homes/condos for sale, up from 17 last week.
There are currently 64 pending sales of Santa Clara single family homes, up from 59 last week.
There are currently 46 pending sales of Santa Clara town homes/Condos, up from 40 last week.

In April of 2013 there were 39 single family Santa Clara homes sold, 3 less than the number in March.,  ranging in price from $540,000 to $1,250,000. This shows an increase in price range of 10% for the lowest priced home sold. The highest is the same as March.
In April of 2013 there were 27 Santa Clara Town Homes/Condos sold, only one more than in March.

They ranged in price from $225,000 to $805,000. Again the low end is about 10% higher and the high end about the same. what is more significant is that the lowest priced condo at $225,000 was a short sale so the contract date was many months earlier. The lowest priced traditional sale was $275,000.  The lowest price traditional sale in March was $225,000. This shows over a 20% increase in the low end.
 
These numbers are better in all categories, and up for 2 weeks in a row for single family homes. However, the ratio of pending to active listings should be 1:2 not 2:1 in a healthier market. We just do not have enough listings. Hopefully as more homeowners come out from being underwater (owing more on their home than it is worth) more sellers will be able and willing to sell.
If you would like to search for homes for sale please feel free to visit my website for a custom search.

http://marcymoyer.com/OnlineSearchRequest2?operation=choose_mls&timestamp=1359953266454

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

Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
D.R.E. 01191194
650-619-928

Mountain View Ca Real Estate Market Update 5/18/2013

There are currently 26 single family Mountain View homes for sale,  up from 23  last week.

There are currently 22 Mountain View town homes/condos for sale,  up from 15 last week.

There are currently 29 pending sales of Mountain View single family homes,  up from 27 last week.

There are currently 44 pending sales of Mountain View Town homes/Condos, down from from 49 last week.

In April, 2013 there were 18 single family Mountain View homes sold ranging in price from $705,000 to $1,900,000.  The volume was the same and the low end is about the same as Feb and March, but the high end is significantly higher..

In April, 2013  there were 32 Mountain View Town Homes/Condos sold ranging in price from $305,000 to $1,210,000. There were almost twice as many sales in April as in March, which is good, but the lowest price condo sold 10% over the lowest price in March.

The inventory is up a little in single family homes and a good increase in condos for sale, although still not a healthy level of either. I would like to see at least 40 single family homes for sale and at least 60 condos for sale at any given week. I think as the summer goes on it may still be possible. In some communities such as Palo Alto and Menlo Park there are many empty nestors who would be selling, but do not because their grown children come back to live with them. this is not the case for a Mountain View condo. Many condo owners who would have sold to move up were not able to when prices were below their original purchase price. Appreciation has wiped out that problem so hopefully we see more condo sellers soon.

If you would like to search for homes for sale please feel free to visit my website for a custom search.

http://marcymoyer.com/OnlineSearchRequest2?operation=choose_mls&timestamp=1359953266454

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

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Palo Alto Ca Real Estate Market Update 5/18/2013

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 39 single family Palo Alto homes for sale up from 29 last week.

There are currently 9 Palo Alto town homes/condos for sale, down from 12 last week.

There are currently 28 pending sales of Palo Alto single family homes, down from 36 last week.

There are currently 11 pending sales of Palo Alto Town homes/Condos, down from 12 last week.

In April of 2013 there were 46 single family Palo Alto homes sold, about 50% more than in March. The prices ranged from $1,050,000 to $10,000,000. No homes under a million is significant.

In April of 2013 there were 9 Palo Alto Town Homes/Condos sold, down 3 from March.  The prices ranged from $785,000 to $1,350,000. This is a high starting price point for condos as well. 

This week the lowest price listing of a single family home is $1,099,000 which is higher that the lowest priced sale in April. Since most homes get multiple offers and sell higher than list price it is reasonable to expect that the lowest priced sale could be over $100,000 higher than the lowest sale  in all of April. In other words, the market is still appreciating.

The inventory of single family homes for sale is better than last week, for the third week in a row which is a good sign. It is a big increase, but since next week-end is Memorial Day Week-end I expect another drop at that time.  However, I think that June and July may see weekly homes in the 40's as more sellers seem to coming into the market. If you would like to search for homes for sale please feel free to visit my website for a custom search.

http://marcymoyer.com/OnlineSearchRequest2?operation=choose_mls&timestamp=1359953266454

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

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

How Much Should I Offer on The Mountain View Home with Multiple Offers

Anyone trying to buy a home in Moutain 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 home 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 condo 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 condo 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. the good news is the amount over asking seems to have peaked is is now down a little from the 12% over average in March.

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 home multiple offers.

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

Marcy Moyer

Keller Williams Realty 

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

How Much to Offer For a Mountain View Ca Condo With Multiple Offers

Anyone trying to buy a condo in Moutain 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 condo 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 condo compared to market value? If the condo 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 variable, 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 condo 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 condo multiple offers.

If you have any questions about buying or selling a condo in Mountain View please feel free to contact me.

Marcy Moyer

Keller Williams Realty 

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

How Much To Offer on a Menlo Park Home With Multiple Offers

Anyone trying to buy a home in Menlo Park right now knows that it is tough out there. There are many more buyers than sellers and many Menlo Park 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 Menlo Park 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 Menlo Park 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 price would you offer so 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 variable, and the market is a moving target, but a good Menlo Park 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 Menlo Park 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 Menlo Park 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 Menlo Park real estate agent he or she can help guide you through the murky waters of Menlo Park multiple offers.

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

Marcy Moyer
Keller Williams Realty 
www.marcymoyer.com
marcy@marcymoyer.com
D.R.E. 01191194
650-619-9285

How Much to Offer on A Palo Alto Home With Multiple Offers

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 price would you offer so 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 variable, and the market is a moving target, but a good Palo Alto 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 Palo Alto 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 Palo Alto 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 Palo Alto real estate agent he or she can help guide you through the murky waters of Palo Alto multiple offers.

Santa Clara Ca. Real Estate Market Update 5/11/2013

As a Santa Clara Real Estate Agent I am always being asked, "How's the market in Santa Clara?" The answer is simple:
Not enough inventory, plenty of buyers.

There are currently 46 single family Santa Clara homes for sale, up from 40 last week.
There are currently 17 Santa Clara town homes/condos for sale, down from 20 last week.
There are currently 59 pending sales of Santa Clara single family homes, down from 60 last week.
There are currently 40 pending sales of Santa Clara town homes/Condos, down from 42 last week.

In April of 2013 there were 39 single family Santa Clara homes sold, 3 less than the number in March.,  ranging in price from $540,000 to $1,250,000. This shows an increase in price range of 10% for the lowest priced home sold. The highest is the same as March.
In April of 2013 there were 27 Santa Clara Town Homes/Condos sold, only one more than in March.

 They ranged in price from $225,000 to $805,000. Again the low end is about 10% higher and the high end about the same. what is more significant is that the lowest priced condo at $225,000 was a short sale so the contract date was many months earlier. The lowest priced traditonal sale was $275,000.  The lowest price traditional sale in March was $225,000. This shows over a 20% increase
in the low end.

 Single family homes for sale are up and condos are down. Both catagories are still too low. 
If you would like to search for homes for sale please feel free to visit my website for a custom search.
http://marcymoyer.com/OnlineSearchRequest2?operation=choose_mls&timestamp=1359953266454

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

Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
D.R.E. 01191194
650-619-928

Mountain View Ca Real Estate Market Update 5/11/2013

There are currently 23 single family Mountain View homes for sale, the same as last week.
There are currently 15 Mountain View town homes/condos for sale,  down from 17 last week.
There are currently 27 pending sales of Mountain View single family homes,  the same as last week.
There are currently 49 pending sales of Mountain View Town homes/Condos, up from from 40 last week.

In April, 2013 there were 18 single family Mountain View homes sold ranging in price from $705,000 to $1,900,000.  The volume was the same and the low end is about the same as Feb and March, but the high end is significantly higher..
In April, 2013  there were 32 Mountain View Town Homes/Condos sold ranging in price from $305,000 to $1,210,000. There were almost twice as many sales in April as in March, which is good, but the lowest price condo sold 10% over the lowest price in March.
The inventory is not increasing. As soon as most homes and condos come on the market, they sell. This appears as if it is going to continue for a while.
If you would like to search for homes for sale please feel free to visit my website for a custom search.

http://marcymoyer.com/OnlineSearchRequest2?operation=choose_mls&timestamp=1359953266454

If you have any questions about buying or selling a home in Mountain View please feel free to contact me.
Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
D.R.E. 01191194

Palo Alto Ca REal Estate Market Update 5/11/2013

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 29 single family Palo Alto homes for sale up from 26 last week.
There are currently 12 Palo Alto town homes/condos for sale, up from 8 last week.
There are currently 36 pending sales of Palo Alto single family homes, down from 41 last week.
There are currently 12 pending sales of Palo Alto Town homes/Condos, the same as last week.
In April of 2013 there were 46 single family Palo Alto homes sold, about 50% more than in March. The prices ranged from $1,050,000 to $10,000,000. No homes under a million is significant.
In April of 2013 there were 9 Palo Alto Town Homes/Condos sold, down 3 from March.  The prices ranged from $785,000 to $1,350,000. This is a high starting price point for condos as well.

The inventory is just slightly better than last week, for the second week in a row which is a good sign. We have a long ways to go to get into the 40's by May which makes me believe my expectation of a significant increase in inventory in the late spring/early summer may not happen. If you would like to search for homes for sale please feel free to visit my website for a custom search.
http://marcymoyer.com/OnlineSearchRequest2?operation=choose_mls&timestamp=1359953266454

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

Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
D.R.E. 01191194
650-619-9285