Why this Is A Great Time To Sell Your Studio Condo In San Jose

The San Jose real estate market is booming. Inventory has never been lower. Everything is getting multiple offers. Buyers are out in droves. But for some types of properties there is still the fear on the part of the sellers that they will have trouble selling.

Studio condos are in that class of traditionally hard to sell homes. If you own a studio condo in San Jose and are thinking of selling, do not hesitate.

Small is in. The size of your home is now not as important as it was in the past. This trend is already very popular in San Francisco so San Jose is never far behind.

http://www.sfgate.com/business/article/Micro-apartment-developments-on-rise-in-S-F-4951775.php

The potential occupant of a studio condo in San Jose would be a young busy tech professional, city or county worker on a budget, or even a young doctor or post doc student. The buyer of a San Jose studio condo could be any of the above, parent of any of the above, or investor looking for a rental property.

Young professional buyers and renters are very busy. They spend so little time at home there is not a need for a huge living space. Tech companies often provide meals on site and many young foodies love to buy from food trucks or local restaurants. Huge kitchens are not a necessity for them.  Easy access to transportation, entertainment, and coffee shops is. 

As buying a home becomes more and more expensive buying a small San Joae studio condo is a more reasonable option than a larger 1 or 2 bedroom condo.

So if you have a San Jose studio condo you would like to sell, now is the time. When I list San Jose studio condos for sale I like to have the home cleared out. Then I stage it with Ikea furniture designed specifically for one room spaces. The bed should wither be elevated, or be able to convert to a sofa. Tables should fold, and there should be plenty of shelving on the wall.  The San Jose studio condo should be staged to be move in ready, and then the whole set up can be sold to the new buyer if they want. If not, I pack it up and stage my next San Jose studio condo with it.

If you have any questions about selling a studio condo in San Jose please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

Ca BRE 01191194

650-619-9285

The Hamilton In Palo Alto Luxury Adult Living

The Hamilton in Palo Alto is a 36 unit condominium at the corner of Hamilton and Byron/Middlefield in Palo Alto that is the epitome of luxury in Palo Alto retirement living. Built in 1997 it was designed to meet the needs of adults over 55 who want to stay in Palo Alto and live in downtown, but want the security and convenience of condo living.

Unlike some other Palo Alto retirement communities The Hamilton does not offer assisted living or skilled nursing care.  What it does offer, beside gorgeous, spacious condos, is 24 hour security 7 days a week. a car service to drive you to appointments within 10 miles of the Hamilton, pool, fitness room, common living room, common library, courtyard, coffee, tea and bisccotti in the morning, and a gourmet restaurant for dinners 5 nights a week. The meals are $10.50 a person to cover the cost of the food, and additional charges if you would like wine. There is maid service and on site handymen, but these are also charged additionally, although at very reasonable rates.

The residence age requirements are one occupant must be at least 55 years old. The second occupant must be at least 45 years old. The only exceptions to this would be if an occupant over 55 has full time help, or a disabled child living with him or her. In these cases the minimum age requirement is waived.

The monthly dues are hefty, ranging from around $4000 a month to $4400 a month for one person, and $5000 a month to $5300 a month for two people.  All utilities except electricity are included in the dues. The reason for the high cost in this Palo Alto retirement residence is that this is a large building with only 36 owners and a huge staff. There are not a lot of owners to split the costs.

The condos are large and beautiful, ranging from about 1400 sq feet to 2000 square feet which is very large for retirement homes in the Silicon Valley.

Prices are going up. Last year the average price per square foot was $635 but my recent listing just sold for $793 a square foot. This is a huge jump, but still not at the level of $1000 a sq foot which is common in downtown Palo Alto.

If you have any questions about what your options are for retirement living in Palo Alto please feel free to contact me.

Marcy Moyer

Keller Williams Realty Palo Alto

www.marcymoyer.com

marcy@marcymoyer.com

Ca BRE 01191194

650-619-9285

Retirement In The Silicon Valley

While the Silicon Valley is known for many things, high tech, great schools, and expensive housing, it is also actually a wonderful place for retirement. The options available for independent adult living, assisted care, nursing homes, continuing care, as well as home health care are abundant.

This is the first blog in a series about what some of the many options you have for your retirement in the Silicon Valley. Today I will talk about independent living for active senior adults.

Independent living in a retirement community means that you would have your own home, condo, or apartment, but the other people in the community would all be seniors. The age cut off depends on the number of units in the community. The smaller communities may have older age requirements, ie 62 years old vs 55 years old. 

In an independent Silicon Valley active retirement community there are generally some services provided but not true assisted living. Meals may be available or there may be restaurants on the premises. There may be shuttle services to take residents shopping or to doctors appointments. There are frequently recreational activities such as pools, golf, hiking trails, gyms, art classes, excursions to theatres and concerts, and organized card games.

Some of these independent retirement communities offer additional services for their residents, like maid services or in room meals. 

Purchasing a home or condo in an independent Silicon Valley retirement community is generally less expensive than an equivalent home in a non age restricted community. For example Los Gatos Commons has a two bedroom condo listed for $320,000 when no non age restricted condo in Los Gatos sold for less than $500,000 in 2013. There are also options for renting in adult only apartments or buying a mobile hone in an adult only park.

The cost of independent living monthly fees can be steep depending on what is included. It is not unusual to pay $1000 to $5000 a month for dues if meals are included or if there are a lot of recreational facilities offered.

These independent Silicon Valley retirement communities can be found all over the bay area. South San Jose has the Villages, Los Gatos has the commons, Menlo Park has the Commons, Palo Alto has the Hamilton, and San Mateo has The Gramercy just as a few examples. Whether you want a rural, suburban, or urban experience, you can find it in a Silicon Valley retirement community.

If you have any questions about buying a home in a Silicon Valley retirement community please feel free to contact me. 

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

Ca BRE 01191194

650-619-9285

I Love Living In Palo Alto

A cold snap is covering most of the country. I just got a message from a friend in Maryland saying it is 7 degrees this morning so he is going to the gym instead of out running. This is after a big snow storm blanketed the mid west and east coast. I love living in Palo Alto.

Today is supposed to be 73 in Palo Alto. I have to decide between going for a run/walk on the Dish at Stanford (walk the steep uphill and run the flat and downhill parts) or taking my dog to the beach at Half Moon Bay. Did I mention I love living in Palo Alto?

Maybe I will do both, although I do have a lot of work to do today.

It is wonderful to living in Palo Alto, but there are challenges.

Homes are expensive, and there is a lot of competition for them. If you want to buy a home in Palo Alto be prepared to pay a lot of money and have a lot of competition. Most homes sell for over list price and have multiple offers as the inventory of homes for sale has been very low for a long time.

In 2013 there were 407 single family homes sold. only 5 sold under a million dollars. The average 3 bedroom 2 bath house sold for $1,923,541, was 1661 square feet with a 7,000 square foot lot, and was on the market 14 days.

But a smaller house than you find in other neighborhoods for me is a small price to pay for the benefits of living in Palo Alto. I think we have the best schools, parks, restaurants, stores, and people in the world. And who can complain about our wonderful weather?

Palo Alto also has great diversity in the neighborhoods. There is the vibrant downtown area with condos, apartments, and cute older homes. Then Professorville with gorgeous historic homes from the turn of the century. Old Palo Alto has both stately homes form the 20's and 30's as well as large newer homes and many larger lots. Crossing Oregon you get to Midtown where older cottages and ranch homes are mixed with many new builds. Then South Palo Alto is the mid century modern lover's dream with street after street of Eichlers. 

If you want to look for homes in Palo Alto click here.

If you have any questions about living in Palo Alto please feel free to contact me.

Marcy Moyer

Keller Williams Realty Palo Alto

www.marcymoyer.com

marcy@marcymoyer.com

Ca BRE 01191194

650-619-9285

Where Do Palo Alto Buyers Come From Part 3

In Where Do Palo Alto Buyers Come From Parts 1 and 2 http://actvra.in/48kQ#sthash.72NoBZSb.dpuf, http://actvra.in/48hM#sthash.oRB1OcTH.dpuf I discussed the fact that 40% of buyers come from the internet and 35% come from other agents. That means that on a national basis 75% of buyers come from the internet or agents and 25% come from other sources. This blog will talk about those other sources.

On a National basis 11% of buyers will come from a yard sign. There are still people who want to buy in Palo Alto who will drive through neighborhoods looking for open houses and for sale signs. When you are selling your home in Palo Alto it really is a good idea to have a for sale sign in your yard. It is not that important what the color, height, or sign post looks like. Just make sure that the Palo Alto agent you chose to sell your home in Palo Alto has a sign with a large phone number on it so that if someone drives by it is easy to see the phone number they need to call to get the info on the home you are selling in Palo Alto.

Nationally about 6% of all buyers of homes are friends of the seller and that is how they find their home. Given that it is not a bad idea to post the fact you are selling your Palo Alto home on Facebook, take fliers of your home to work, and talk it up with your friends.

5% of homes are sold by builders so this does not apply to you if you are selling your home in Palo Alto.

2% of all homes nationally are sold because of a newspaper ad. Everyone knows that newspaper ads sell real estate agents, not real estate. So if a Palo Alto real estate agent tells you they are better at marketing because of all their beautiful newspaper ads ask to see their internet ads and put that in the mix.

2% of all homes are sold by owner. The numbers are not in your favor to try it that way.

Less than 1% of homes find their buyer in magazines.

So if you are selling a home in Palo Alto it is a great idea to keep these figures in your head when you are interviewing Palo Alto real estate agents. this will help you make a more objective decision.

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

Marcy Moyer

Keller Williams Realty Palo Alto

www.marcymoyer.com

marcy@marcymoyer.com

CA BRE 01191194

650-619-9285