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

When Selling a Mountain View Condo You Can Never Have Too Many Flowers

When selling a condo in Mountain View I don't believe there is such a thing as too many fresh flowers, especially in the spring time. I will concede that it is probably better not to have the home look like a funeral parlor, but short of that, nothing makes a Mountain View condo for sale more appealing than fresh flowers.

Home buying may be the biggest financial investment a person makes in his/her lifetime, but it is still ultimately an emotional decision. Walnut floors and quartz counter tops may be on a buyer's wish list, but the impact of coming into a home with fresh flowers is as the saying goes, "Like a breath of fresh air." Flowers never fail to give the buyer that over joyed feeling so important for a first impression.

There is a reason that people give flowers on Valentine's day. They say, LOVE. And don't you want buyers to love the Mountain View condo you are selling?

Now that it is spring there is no reason not to use fresh flowers in every room of the Mountain View you are selling. Trader Joes has them at ridiculously inexpensive prices. The Mountain View Farmert's Market have a gorgeous selection of the finest locally grown flowers. Even Costco has a fabulous selection of fresh cut flowers for your Mountain View.

So, tell your home stager who brings in pretty, but not emotionally charged silk flowers, thanks, but no thanks. Only fresh flowers are good enough for the Mountain View condo you are selling.

When Selling a Mountain View Ca Condo Which Contingencies Are Riskier?

If you are a Mountain View condo seller which do you think is riskier for you, not the buyer, taking an offer with a loan contingency, or taking an offer for your Mountain View condo for sale with an inspection contingency?

This question pre supposed several givens:

1. You have multiple offers from which to choose

2. The buyer has been fully pre-approved by a direct lender, is from this country or has the legal status necessary to obtain a loan, and did not ask for an appraisal contingency.

3. You have done all of the inspections on your Mountain View condo before the sale including property, termite, roof, chimney, and have all of the HOA documents.

So assuming all of the above conditions have been met, and you have several offers which are around the same price, which would you prefer?

As a Mountain View Real Estate Agent my choice is different than what you may think.

I think it is riskier for a seller to take an offer for the home being sold in Mountain View from a buyer with no loan contingency, but a property/disclosure contingency.

Here is my thinking/experience:

1. Most buyers in this market have ample income and assets to get a loan. As long as there is a strong pre-approval letter a loan contingency should not be a problem. If you have a strong buyer and one bank has a problem with the loan, there is most likely another bank who will do it. With a loan contingency there is only one reason to get out of the contract, and that is the buyer just can not get a loan.

2. A property/disclosure contingency is open ended. The buyer can use any excuse about the property, neighborhood, schools, city government, they want if they want to get out of the contract to buy a Mountain View condo for sale. Also, things can come up on the buyer's inspections that could ultimately cost money if they say they will not buy the house if you don't fix, replace, or do something expensive to the Mountain View condo for sale.

I believe if you have to choose between an offer for the Palo Alto home you are selling with a loan contingnecy, and one with a property contingency, the loan contingency is generally the less risky of the two contingencies.

If you have any questions about selling a condo in Mountain View 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

Mountain View Ca Real Estate Market Update Feb 24.2013

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

Not enough inventory, plenty of buyers.


There are currently 13 single family Mountain View homes for sale
There are currently 16 Mountain View town homes/condos for sale.
There are currently 21 pending sales of Mountain View single family homes.
There are currently 27 pending sales of Mountain View Town homes/Condos.
As of Feb 24, 2013 there were 23 single family Mountain View homes sold ranging in price from $685,000 to $2,165,000.
As of Feb 24, 2013 of 2013 there were 33 Mountain View Town Homes/Condos sold ranging in price from $250,000 to $1,075,000.


These numbers are still low, but a little better than last week. I still expect an increase in inventory, but possibly not till late spring or early summer till we see a significant difference.
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