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

How Much Over List Price Are Palo Alto Ca Homes Selling in 2014?

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 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 Palo Alto 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 Palo Alto home 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 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 Menlo Park 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

How Much Should I 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.

- See more at: http://activerain.com/blogsview/3724323/how-much-to-offer-on-a-palo-alto-home-with-multiple-offers-#sthash.WSHTf7jm.dpuf

Palo Alto Ca How Much Over Asking Do I Need to Pay?

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

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

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

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.

Palo Alto Market: Multiple Offers

For anyone following the Palo Alto Market, especially in South Palo Alto, things are pretty crazy.  Homes are once again getting multiple offers and there are many more people trying to buy right now, than there are homes to buy.  For some buyers this can be very discouraging if not downright maddening.  Many do not understand why their wonderful offer at or above asking is not getting accepted. What does it take to "win" in one of these multiple offer situations? How much risk are you willing to take to buy a Palo Alto home?

These are not easy questions to answer.  So as usual, I want to look at facts first.  

Summary Of Comparable Properties Single Family Residential   Address City Beds Bath DOM LOE SqFt $/SqFt Lot(SqFt) List Price Age Sale Price   SOLD  510 Jefferson Dr   Palo Alto   4   3|0  10   26   2,818   $691.98   11,400   $1,895,000   62   $1,950,000    675 Kellogg Av   Palo Alto   4   3|0  1   22   3,303   $590.37   5,600   $1,950,000   21   $1,950,000    820 Arroyo Ct   Palo Alto   5   3|1  5   27   3,095   $621.97   9,193   $1,899,999   12   $1,925,000    639 Homer Av   Palo Alto   3   3|0  1   32   1,925   $1,000   3,333   $1,925,000     $1,925,000    754 San Carlos Ct   Palo Alto   4   3|1  9   28   2,986   $644.68   9,200   $1,645,000   8   $1,925,000    593 Chimalus Dr   Palo Alto   4   3|1  5   36   2,405   $790.02   6,135   $1,850,000   3   $1,900,000    5 Phillips Rd   Palo Alto   3   2|1  6   30   2,220   $810.81   11,550   $1,695,000   63   $1,800,000    870 Garland Dr   Palo Alto   3   2|0  7   34   1,938   $890.09   6,962   $1,699,000   55   $1,725,000    3650 La Calle Ct   Palo Alto   3   2|0  7   29   1,659   $994.58   13,395   $1,495,000   70   $1,650,000    2207 Greer Rd   Palo Alto   5   3|0  7   14   2,304   $694.44   7,902   $1,249,000   54   $1,600,000    595 Homer Av   Palo Alto   3   2|1    8   1,500   $1,066.67     $1,575,000     $1,600,000    225 Wilton Av   Palo Alto   4   3|1  7   27   2,304   $690.1   5,970   $1,590,000     $1,590,000    975 Stanley Wy   Palo Alto   3   2|0  1   18   1,394   $1,111.91   9,364   $1,298,000   61   $1,550,000    959 Mears Ct   Palo Alto   4   2|0  7   27   2,447   $628.52   12,100   $1,538,000   42   $1,538,000    797 Cereza Dr   Palo Alto   3   3|0  8   34   2,022   $751.73   8,250   $1,500,000   61   $1,520,000    2036 Emerson St   Palo Alto   2   2|0  7   8   1,502   $1,006.16   5,000   $1,445,000   52   $1,511,250    889 La Para Av   Palo Alto   3   1|0  8   33   1,169   $1,267.75   9,738   $1,349,000   70   $1,482,000    828 Esplanada Wy   Palo Alto   3   2|0  8   41   1,765   $793.2   11,186   $1,470,000   53   $1,400,000    4012 Scripps Av   Palo Alto   5   2|0  6   35   2,078   $673.72   7,650   $1,395,000   56   $1,400,000    620 Saint Claire Dr   Palo Alto   3   2|0  10   31   1,365   $975.09   6,100   $1,295,000   58   $1,331,000    233 Creekside Dr   Palo Alto   3   2|0  7   27   1,674   $776.58   7,260   $1,299,000   57   $1,300,000    3193 Bryant St   Palo Alto   3   2|0  10   33   1,408   $919.74   6,750   $1,300,000   62   $1,295,000    3624 Bryant St   Palo Alto   3   2|0  7   35   1,318   $963.58   6,111   $1,175,000   59   $1,270,000    724 San Carlos Ct   Palo Alto   3   2|0  11   29   1,714   $740.96   9,450   $929,000   65   $1,270,000    3256 Clifton Ct   Palo Alto   3   2|0  8   15   1,122   $1,114.08   8,400   $998,000   59   $1,250,000    2046 Edgewood Dr   Palo Alto   3   2|0      1,589   $774.07   8,911   $1,199,000   55   $1,230,000    982 Lawrence Ln   Palo Alto   4   2|0  9   31   1,603   $767.31   6,420   $1,088,000   60   $1,230,000    670 Marion Av   Palo Alto   2   1|1  7   15   1,291   $952.75   7,475   $980,000   65   $1,230,000    3249 Morris Dr   Palo Alto   4   2|0  10   32   1,660   $739.76   6,400   $1,168,000   59   $1,228,000    836 Kipling St   Palo Alto   3   2|0  7   21   1,274   $961.54   2,800   $1,248,000   95   $1,225,000    14 Roosevelt Ci   Palo Alto   3   2|0  7   28   1,410   $852.48   6,080   $1,088,000   60   $1,202,000    886 Moreno Av   Palo Alto   2   2|0  9   14   1,480   $810.81   7,800   $988,000   65   $1,200,000    3837 Carlson Ct   Palo Alto   3   2|0  8   40   1,560   $737.18   7,000   $1,098,000   58   $1,150,000    931 Clara Dr   Palo Alto   3   1|1    3   1,302   $883.26   9,970   $1,150,000   58   $1,150,000    711 Kingsley Av   Palo Alto   3   2|0  8   29   1,215   $925.93   3,900   $1,125,000   91   $1,125,000    743 Moreno Av   Palo Alto   2   1|0  6   30   988   $1,062.75   6,600   $895,000   64   $1,050,000    1125 Oregon Av   Palo Alto   3   1|0  2   33   1,093   $743.82   6,000   $775,000   61   $813,000    741 Ellsworth Pl   Palo Alto   2   1|0  7   21   880   $875   4,596   $749,000   62   $770,000    111 Washington Av   Palo Alto   2   1|0  8   15   1,113   $664.87   5,625   $749,000   79   $740,000    575 Oxford Av   Palo Alto   1   1|0  10   6   600   $1,050   3,969   $599,950   57   $630,000     AVERAGE VALUES     7   26   1,712   $850.26   7,476   $1,308,974   57   $1,390,756       AVERAGE VALUES FOR ALL     7   26   1,712   $850.26   7,476   $1,308,974   57   $1,390,756

Quick Statistics ( 40 Listings Total)   Min Max Median List Price $599,950 $1,950,000 $1,296,500 Sale Price $630,000 $1,950,000 $1,315,500

So as you can see for homes on the market less than 12 days the average sale price was about ninety thousand dollars more than the average list price.   So, if you are in a multiple offer situation you may have to offer more than the asking price if you are going to get the house.

I am not saying that to do so is a great idea in all cases. but if you want to buy in Palo Alto right now in some cases that is the reality.

Next time I will go into some of the other considerations in a multiple offer situation.

Please feel free to contact me if you have any questions.

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