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

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

Keller Williams Realty Palo Alto 

www.marcymoyer.com

marcy@marcymoyer.com

Ca B.R.E. 01191194

650-619-9285

I Can't Find You a Mountain View Town Home That Doesn't Exist

Inventory is low, employment is high, and buyers are out in force. The Silicon Valley is loaded with young professional people who are looking for a place to call home. Many are looking for homes that do not exist. It is sad, and I want to help, but I can only help those who are realistic.

We have a joke in the real estate business. We make fun of people who want 3 bedrooms, 3 baths, 1600 square feet, less than 5 years old in Mountain View for $400,000 or less. When I hear this I have to bite my tongue to keep from laughing.

This is an extreme case. $400,000 will get you a 2 bedroom 40 year old condo with less than 1,000 square feet in Mountain View. 

What about the the less extreme cases? How can you tell if what you want is realistic.

It is not that difficult, even in a market with historically low inventory.

Make a list of your priorities.

Check the MLS ( or better yet have a real estate agent check the MLS for you) with these parameters sold in the last 6 months.

Increase the price by 10%.

If what you are looking for has sold i the last 6 months and you can afford the additional 10% price increase ( as prices are appreciating in Mountain View) then you are being realistic and your patience is likely to pay off.

If your parameters +10% do not produce results you are likely unrealistic and your dream town home in Mountain View does not exist.

You may believe in the power of positive thinking, goal setting, positive thinking, or any other mind over matter technique, but in the world of real estate, real is the operative word. Either something exists, or it doesn't. If a Mountain View town home does not exist, even I am not good enough to find it for you.

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

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

DRE  01191194

650-619-9285