How Much Over List 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.

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 Palo Alto

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

When Selling A Home In Palo Alto to Bee Or Not To Bee

I was recently asked to go to a home in the Barron Park neighborhood of Palo Alto to speak to the owners about possibly selling their Palo Alto home. We did the typical tour of both inside and outside of this lovely farm home style home from the early 20's. It had been in the family since it was built and the 3 siblings who inherited it are getting ready to sell this beautiful Palo Alto home.
There were many things that stand out about this beautiful old home, but to me the most interesting thing I saw was the largest bee hive I had personally seen in my 20 years in business.
It is not uncommon to see a termite report with a mention of a bee or wasp nest attached to the Palo Alto home for sale. When this happens as a Palo Alto real estate agent I generally tell my client that it is best to remove the wasp nest. Getting stung by a wasp is not going to give a potential buyer a warm fuzzy feeling about buying a Palo Alto home where the sting occurred. Get an exterminator!
Removing a bees nest is a little different. Bees are having some problems with survival, and we need them. They pollinate and make honey. There are a number of local companies that will remove the hives and not kill them. It is more expensive than an exterminator, but better for our environment.
I firmly believe that relocating bees when you are selling a Palo Alto home is the best idea. Not only can being stung by a bee be uncomfortable for potential Palo Alto home buyers, but it can also be a real health hazard for those with bee sting allergies.
If you have any questions about buying or selling a home in Palo Alto 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
Cal BRE 01191194
650-619-9285

Palo Alto Ca Real Estate Market Update 5/18/2014

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. Only the problem, like the drought, is getting worse.

There are currently 28 single family Palo Alto homes for sale, down from 38 last week

.

There are currently 7 Palo Alto town homes/condos for sale, up from 4 last week.

There are currently 47 pending sales of Palo Alto single family homes up from 38 last week.

There are currently 5 pending sales of Palo Alto Town homes/Condos down from 6 last week.

Last week there were 11 new Palo Alto single family home listings and 3 new Palo Alto condo listings. Basically the pending sales are more than keeping up with the new listings.  

In April of 2014 there were 45 single family Palo Alto homes sold.  The prices ranged from $1,670,000  to over $7,500,000. The home for over 7,500,000 withheld the sales price.  Of the 45 sales, 18 were all cash. That is just about 33% which seems to be about the norm.  Most of the cash sales were either at the very high end or tear downs so that is not too unusual. 

In April of 2014 there were 12 Palo Alto Town Homes/Condos sold,   The prices ranged from $580,000 to $1,850,000. Nine of these sales were financed and 3 were cash. 

Traditionally the market picks up in March and April and we saw flickers of that. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and sellers would still reap their appreciation.   If you would like to search for Palo Alto homes for sale please click here.

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

Ca B.R.E. 01191194

650-619-9285

Palo Alto Ca Real Estate Market Update 5/4/2014 Happy Star Wars Day!

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. Only the problem, like the drought is getting worse.

There are currently 38 single family Palo Alto homes for sale, the same as last week

.

There are currently 4 Palo Alto town homes/condos for sale, the same as last week.

There are currently 38 pending sales of Palo Alto single family homes down from 39 last week.

There are currently 6 pending sales of Palo Alto Town homes/Condos the same as last week.

Last week there were 15 new Palo Alto single family home listings and 1 new Palo Alto condo listings. This is a 25% drop from the week before in SFR lisitngs.  

In April of 2014 there were 45 single family Palo Alto homes sold.  The prices ranged from $1,670,000  to over $7,500,000. The home for over 7,500,000 with held the sales price.  Of the 45 sales 18 were all cash. That is just about 33% which seems to be about the norm.  Most of the cash sales were either at the very high end or tear downs so that is not too unusual. 

In April of 2014 there were 12 Palo Alto Town Homes/Condos sold,   The prices ranged from $580,000 to $1,850,000. Nine of these sales were financed and 3 were cash. 

Traditionally the market picks up in March and April and we saw flickers of that. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation.   If you would like to search for Palo Alto homes for sale please click here.

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

Ca B.R.E. 01191194

650-619-9285

Palo Alto Ca Real Estate Market Update 4/28/14

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. Only the problem, like the drought is getting worse.

There are currently 38 single family Palo Alto homes for sale, up from 26 last week

.

There are currently 4 Palo Alto town homes/condos for sale, down from 5 last week.

There are currently 39 pending sales of Palo Alto single family homes the same as last week.

There are currently 6 pending sales of Palo Alto Town homes/Condos up from 5 last week.

Last week there were 20 new Palo Alto single family home listings and 2 new Palo Alto condo listings. This is the highest number of new single family home listings all year.  

In March. of 2014 there were 23 single family Palo Alto homes sold.  The prices ranged from $1,550,000  to $7,500,000. The home for 1,550,000 was an off market sale. Of the 23 sales 10 were all cash. That is a very high percentage.  Most of the cash sales were either at the very high end or tear downs so that is not too unusual. 

In March of 2014 there were 13 Palo Alto Town Homes/Condos sold,   The prices ranged from $575,000 to $2,050,000. Eleven of these sales were financed and 2 were cash. It appears that condos in Palo Alto are not considered great investments by cash investors.

Traditionally the market picks up in March and April and we are seeing flickers of that. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation.   If you would like to search for Palo Alto homes for sale please click here.

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

Ca B.R.E. 01191194

650-619-9285

Palo Alto Ca Real Estate Market Update April 20,2014

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. Only the problem, like the drought is getting worse.

There are currently 26 single family Palo Alto homes for sale, down from 41 last week

.

There are currently 5 Palo Alto town homes/condos for sale, up from 3 last week.

There are currently 39 pending sales of Palo Alto single family homes the same as last week.

There are currently 5 pending sales of Palo Alto Town homes/Condos down from 9 last week.

Last week there were 4 new Palo Alto single family home listings and 2 new Palo Alto condo listings. This drop is expected as it is Easter Week-end.  

In March. of 2014 there were 23 single family Palo Alto homes sold.  The prices ranged from $1,550,000  to $7,500,000. The home for 1,550,000 was an off market sale. Of the 23 sales 10 were all cash. That is a very high percentage.  Most of the cash sales were either at the very high end or tear downs so that is not too unusual. 

In March of 2014 there were 13 Palo Alto Town Homes/Condos sold,   The prices ranged from $575,000 to $2,050,000. Eleven of these sales were financed and 2 were cash. It appears that condos in Palo Alto are not considered great investments by cash investors.

Traditionally the market picks up in March and April and we are seeing flickers of that. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation.   If you would like to search for Palo Alto homes for sale please click here.

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

Ca B.R.E. 01191194

650-619-9285

Palo Alto Ca Real Estate Market Update 4/13/2014

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. Only the problem, like the drought is getting worse.

There are currently 41 single family Palo Alto homes for sale, up from 28 last week

.

There are currently 3 Palo Alto town homes/condos for sale, down from 4 last week.

There are currently 39 pending sales of Palo Alto single family homes up from 28 last week.

There are currently 9 pending sales of Palo Alto Town homes/Condos down from 11 last week.

Last week there were 19 new Palo Alto single family home listings and 2 new Palo Alto condo listings. This is the largest number of new listings for single family homes all year.  

In March. of 2014 there were 23 single family Palo Alto homes sold.  The prices ranged from $1,550,000  to $7,500,000. The home for 1,550,000 was an off market sale. Of the 23 sales 10 were all cash. That is a very high percentage.  Most of the cash sales were wither at the very high end or tear downs so that is not too unusual. 

In March of 2014 there were 13 Palo Alto Town Homes/Condos sold,   The prices ranged from $575,000 to $2,050,000. Eleven of these sales were financed and 2 were cash. It appears that condos in Palo Alto are not considered great investments by cash investors.

Traditionally the market picks up in March and April and we are seeing flickers of that. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation.   If you would like to search for Palo Alto homes for sale please click here.

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

Ca B.R.E. 01191194

650-619-9285

Palo Alto Ca Real estate Market Update 4/6/2014

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. Only the problem, like the drought is getting worse.

There are currently 28 single family Palo Alto homes for sale, up from 25 last week

.

There are currently 4 Palo Alto town homes/condos for sale, down from 6 last week.

There are currently 28 pending sales of Palo Alto single family homes down from 31 last week.

There are currently 11 pending sales of Palo Alto Town homes/Condos up from 8 last week.

Last week there were 8 new Palo Alto single family home listings and 1 new Palo Alto condo listings. This is the first time in a month that the number of new listings went down. It may be because it was spring break for the Palo Alto School district.

In March. of 2014 there were 23 single family Palo Alto homes sold.  The prices ranged from $1,550,000  to $7,500,000. The home for 1,550,000 was an off market sale. Of the 23 sales 10 were all cash. That is a very high percentage.  Most of the cash sales were wither at the very high end or tear downs so that is not too unusual. 

In March of 2014 there were 13 Palo Alto Town Homes/Condos sold,   The prices ranged from $575,000 to $2,050,000. Eleven of these sales were financed and 2 were cash. It appears that condos in Palo Alto are not considered great investments by cash investors.

Traditionally the market picks up in March and April and we are seeing flickers of that. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation.   If you would like to search for Palo Alto homes for sale please click here.

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

Ca B.R.E. 01191194

650-619-9285

Palo Alto Ca Real Estate Market Update 3/29/2014

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. Only the problem, like the drought is getting worse.

There are currently 25 single family Palo Alto homes for sale, the same as last week

.

There are currently 6 Palo Alto town homes/condos for sale, up from 3 last week.

There are currently 31 pending sales of Palo Alto single family homes up from 20 last week.

There are currently 8 pending sales of Palo Alto Town homes/Condos down from 10 last week.

Last week there were 12 new Palo Alto single family home listings and 3 new Palo Alto condo listings. That is a jump over the last 3 weeks and hopefully a trend.

In Feb. of 2014 there were 17 single family Palo Alto homes sold.  The prices ranged from $1,225,000  to $6,0000,000. The lot on the 1.2 mil sale was less than 3000 square feet. Of the 17 sales only 9 were all cash which is not a healthy sign that the sales of Palo Alto homes are not being purchased by foreign investors. However, most of the cash sales were wither at the very high end or tear downs so that is not too unusual. 

In Feb. of 2014 there were 4 Palo Alto Town Homes/Condos sold,   The prices ranged from $1,255,000 to $1,410,000. Two of these sales were financed and 2 were cash. One of the cash sales was for a condo in a senior development so it is typical for there not to loans on those.

Traditionally the market picks up in March and April and we are seeing flickers of that. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation.   If you would like to search for Palo Alto homes for sale please click here.

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

Ca B.R.E. 01191194

650-619-9285

Palo Alto Ca Real Estate Market Update March 22, 2014

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. Only the problem, like the drought is getting worse.

There are currently 32 single family Palo Alto homes for sale, up from 25 last week

.

There are currently 5 Palo Alto town homes/condos for sale, up from 3 last week.

There are currently 19 pending sales of Palo Alto single family homes down from 20 last week.

There are currently 10 pending sales of Palo Alto Town homes/Condos the same as last week.

Last week there were 14 new Palo Alto single family home listings and 4 new Palo Alto condo listings. That is a big jump over the last 3 weeks and hopefully a tred.

In Feb. of 2014 there were 17 single family Palo Alto homes sold.  The prices ranged from $1,225,000  to $6,0000,000. The lot on the 1.2 mil sale was less than 3000 square feet. Of the 17 sales only 9 were all cash which is not a healthy sign that the sales of Palo Alto homes are not being purchased by foreign investors. However, most of the cash sales were wither at the very high end or tear downs so that is not too unusual. 

In Feb. of 2014 there were 4 Palo Alto Town Homes/Condos sold,   The prices ranged from $1,255,000 to $1,410,000. Two of these sales were financed and 2 were cash. One of the cash sales was for a condo in a senior development so it is typical for there not to loans on those.

Traditionally the market picks up in March and April and we are seeing flickers of that. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation.   If you would like to search for Palo Alto homes for sale please click here.

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

Ca B.R.E. 01191194

650-619-9285

Palo Alto Real Estate Market Update 3/16/2014

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. Only the problem, like the drought is getting worse.

There are currently 25 single family Palo Alto homes for sale, up from 21 last week

.

There are currently 3 Palo Alto town homes/condos for sale, down from 6 last week.

There are currently 20 pending sales of Palo Alto single family homes down from 21 last week.

There are currently 10 pending sales of Palo Alto Town homes/Condos up from 9 last week.

Last week there were 11 new Palo Alto single family home listings and 1 new Palo Alto condo listings. That is a jump over the last 2 weeks and hopefully a tred.

In Feb. of 2014 there were 17 single family Palo Alto homes sold.  The prices ranged from $1,225,000  to $6,0000,000. The lot on the 1.2 mil sale was less than 3000 square feet. Of the 17 sales only 9 were all cash which is not a healthy sign that the sales of Palo Alto homes are not being purchased by foreign investors. However, most of the cash sales were wither at the very high end or tear downs so that is not too unusual. 

In Feb. of 2014 there were 4 Palo Alto Town Homes/Condos sold,   The prices ranged from $1,255,000 to $1,410,000. Two of these sales were financed and 2 were cash. One of the cash sales was for a condo in a senior development so it is typical for there not to loans on those.

Traditionally the market picks up in March and April and we are seeing flickers of that. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation.   If you would like to search for Palo Alto homes for sale please click here.

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

Ca B.R.E. 01191194

650-619-9285