Silicon Valley Real Estate

CA BRE 01191194

650-619-9285

Friday, December 20, 2013

Where Do Palo Alto Buyers Come From Part 2

Yesterday I spoke about the internet being the major source of buyers when selling a house in Palo Alto. Today I want to discuss real estate agents.

Palo Alto real estate agents are the second largest source of providing a buyer for the home you are selling in Palo Alto. When I first became a Palo Alto real estate agent 19 years ago agents were the number one source. While Palo Alto agents are no longer the keeper of all information, they are still an important resource when you sell your Palo Alto home.

Buyers look to their agents for advice and to keep up with what is going on in the market. Palo Alto buyers with specific requirements will often ask their agent to preview a home first and let them know if it meets their needs.

The Palo Alto real estate agent you choose to help you sell your home in Palo Alto should have a marketing plan for agents as well as for buyers. This can include a variety of methods:

1. MLS listings with private remarks for agents. These remarks should highlight some features that may not be allowed on the public remark section like showing instructions, where the lock box is located, if there is a trick to opening the door. This seems minor but if an agent can not get in your home will not be shown.

2. Broker open house tour with a giveaway or food: You want as many agents as possible to see your home for sale, even if they do not think they have a client for it. If you entice an Palo Alto real estate agent to see your home they may find it actually works for one of their clients, even if they did not think it would.

3. Email blasts: Even though the home you are selling in Palo Alto is on MLS having your agent send email blasts to other agents may help get someone's attention who has a client that may want your home.

The most important thing a Palo Alto real estate agent can do to help you sell your home is be nice to other agents. You want an agent with a reputation of being fair and honest with other agents. There are some real estate agents who are known to cross ethical boundaries that other agents do not like to work with. In this competitive market buyers do not want to waste their time making offers on homes where their offer will not get a fair shot, so the agents are reluctant to present an offer. Things like the listing agent representing a buyer or even multiple buyers or the listing agent's buyer assistant consistently winning in multiple offers will turn other agents away from presenting offers and you may lose out on the best offer.

So while the internet is a vital tool in selling your home in Palo Alto, real estate agents have not gone the way of the Dodo bird and are invaluable in this endeavor.

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

Marcy Moyer

CaBRE 01191194

650-619-9285

Where Do Palo Alto Buyers Come From? Mostly the Internet!

As a Palo Alto real estate agent I am often asked by potential sellers about my marketing plan. While it is true that it is probably easier to sell a home in Palo Alto than most other places, marketing is very important. However, the type of marketing that works in today's market is not the same as the type that worked 20 years ago, and this change should be reflected in your Palo Alto agent's marketing plan.

While over 80% of buyers start their home search on the internet, 40% actually find their home on the net. This is critical! Almost half of all buyers find their home in the internet and then go to see it. So how and where your home is on the internet is the most important thing you can do to get your Palo Alto home sold for the best price price and term. Since these numbers are national, I suspect that in this tech savvy area the figures are even higher.

Not all Palo Alto agents are equal when it comes to internet marketing. Just putting a Palo Alto home for sale on the MLS and letting it get picked up by other sites does not cut it in the wild west of the internet. Your Palo Alto real estate agent should put your home and as many pictures as possible on as many sites as possible. There is a service I use called List Hub that syndicates to 900 real estate sites. It is also important to add as many pictures as possible to the internet because some sites rank the order of the home by the number of pictures. Even sites like Trulia and Zillow needed to be massaged by your Palo Alto real estate agent in order to make sure there are as many pictures as possible, that the open house days and times are listed, and that as much detail on the information about the home is included.

Marketing a home you are selling in Palo Alto should revolve around the internet, but I will talk about other paths tomorrow.

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

Marcy Moyer

Keller Williams Realty

Cal BRE 01191194

650-619-9285

Tuesday, December 10, 2013

Don't Pay For Termite Repairs On A Palo Alto Home In Escrow

As many of my blog followers know I sell a lot of Palo Alto homes in trust and probate. The owners were often very old, as are the homes, and frequently in need of repair. While it is often a good idea to keep repairs at a minimum in order to decrease the liability to the estate, sometimes it is necessary in order to allow buyers to be able buy and move into a home safely, or in order to increase the value exponentially.

I am currently sellling a Palo Alto home that needed some major bathroom repairs since it was unclear an adult could stand on the bathroom floor without falling through to the crawl space. No amount of staging was going to fix that problem. The second bathroom in this Menlo Park home was not much better.

The seller of this Palo Alto home decided to redo both bathrooms and Preferred Termite company was generous enough to allow the $15,000 payment through escrow.

The house went on the market generating plenty of interest and multiple offers. The seller of this Palo Alto home chose a nice couple who were pre-approved for a loan and felt comfortable enough with the reports and repairs done by the seller that they waived the property condition contingency, knowing that there was still more work to be done on the termite report. They could use the new bathrooms and felt the rest of the termite work and replacing the roof could happen over time.

Unfortunately their lender did not agree. There was no problem with the appraisal or underwriting. However, one day before we were due to close the funder looked at the seller's HUD1 (final closing statement) and saw that there was a $15,000 payment going to Preferred Termite. They said that all work called for on the termite report, including providing more access to the crawl space by making a new opening, had to be done before funding the loan.

Lesson learned. Fortunately neither the seller of the Palo Alto home or the buyer were trying to meet a deadline so the buyer switched lenders, the Palo Alto home seller will pay the termite company out of escrow so it is not on the closing statement and we will close in 2-3 weeks.

So remember, when selling a Palo Alto home do not put payments for inspections or termite repairs in escrow or the buyer's lender may ask to see them and muck up the sale.

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

Marcy Moyer

www.marcymoyer.com

Cal BRE 01191194

650-619-9285

Selling Palo Alto Home With Really Ugly Kitchen Counters?

If you are going to sell an older home in Palo Alto which has really ugly counters you may be in a quandary about whether to leave them the way the are, or replace them so the house does not look so bad. Since so many of our older homes are being purchased as tear downs, or at a minimum for major remodel you may wonder if it is worth spending the money if the house and or kitchen are going to be demolished anyway.

I actually think that unless your home is red tagged by the city and unsafe to enter, it is a good idea to make it look livable, and as welcoming as possible when you are selling a home in Palo Alto.

The reason is simple. While it is true that many older and especially smaller homes in Palo Alto are sold and torn down, it is not true for all of them. There are still Palo Alto buyers out there who want to buy a home in Palo Alto and live in it. Some of them will eventually remodel or tear down, but they still plan on spending time living in the Palo Alto home you are selling.

Also, even if the plan for the home in Palo Alto you are selling is to tear it down and build a new one, this process takes time, often a year or more. During that time period it is very common to have the home occupied, either by the person who purchased it, or by a renter. the more livable the home in Palo Alto you are selling the more it will be worth to a potential buyer.

Ikea sells counter tops that are laminate, but look very nice and are cheap. It is about $60 for an eight foot counter plus installation.

The improvement in look is worth much more than the cost to do it.

Remember, when selling a house in Palo Alto the goal is to get as many people as possible interested in your home, no matter what the condition. My making some inexpensive cosmetic improvements you can appeal to end user buyers, people who want to remodel, and people who want to tear down.

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

CAl BRE 01191194

650-619-9285

Monday, December 2, 2013

Why It Is a Great Idea To List Your Palo Alto Home on Dec 26th

I know what you are thinking, I am going to wait till after the first of the year or the spring to sell my home in Palo Alto. It would be stupid to list a home during the holidays, no one does that. Or no one is looking for a home during the holidays.

I need to respectfully disagree with those sentiments. I believe December is a great month to sell a home in Palo Alto, especially right after Christmas.

Here are the reasons I think selling a Palo Alto home on Dec 26th this year is a great idea.

1. The inventory has never been lower. As of today there are only 6 homes for sale in Palo Alto. A buyer's market doesn't even happen until there are over 90 homes for sale. List this month and you will have no compettion.

2. There are many people who are planning on moving to Palo Alto who are using winter break to come and look for a home. When there are only 6 homes for sale it is not hard to see how much your home will be apprectiated.

3. If you list your home on Dec 26 or there abouts, you could get the out of towners who are here over vacation looking for homes. Kepp it on the market 2 weeks with an open house the first week in Jan and then take offers the following week. This way you can also get the locals who were out of town Christmas week.

4. Registration for Palo Alto schools begins January 16th and priority registration ends Feb 14 2014 so there are many people with school age children who want a Palo Alto address before priority registration ends. Selling a Palo Alto home at the end of December would work perfectly for these families.

So in my opinion if you are ready to sell your home in Palo Alto then my suggestion is don't let a great opportunity pass you by. If you are ready to list in December, wait until after Christmas day, and then get it on the market. Your results will be very satisfying.

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

Cal BRE 01191194

650-619-9285

Tuesday, September 24, 2013

Should You Decorate Your Palo Alto House For Sale For Halloween?

As a Palo Alto Real Estate Agent I am often asked this question in the fall, "Should I decorate my house for Halloween?"

I am prejudiced as I love Halloween, but the decision to decorate your Palo Alto home for sale or not needs to be made with your head, not your heart.
selling a house in palo alto

My first rule of thumb is don't do anything that would scare a young child. So no witches, headless horsemen, or "The Nightmare Before Christmas" pumpkins. If a child gets scared when viewing a home he or she will start screaming and the parents are likely to need to leave before they have the chance to really appreciate all that your Palo Alto home has to offer. Put out pumpkins with smiling faces instead.

Making your home smell like Halloween will bring warm feelings to anyone who enters the house. Pumpkin candles, candy corn, apple cider smells are all wonderful and will make people feel good when they come into the house. Halloween is a happy time for most people so reminding them of that happiness is a good thing when you are selling your Palo Alto home.

One thing I like to do when I list a home in Palo Alto over Halloween is to dedicate one room to decorations, instead of doing up the whole house.
selling a home in palo alto

If most of the decorations are in one room of the Palo Alto house for sale then the concept of isn't this a wonderful time of year can be achieved without distracting from the staging and architectural features of the rest of the home.

Creativity in selling a Palo Alto home near Halloween can take many forms.
selling a home in palo alto

As many Palo Alto residents know we have an active raccoon population in town. Digging up lawns is one of their favorite past times. The week I was ready to put this Palo Alto home on the market a band of raccoons decided that this home had the best grubbs on the block and wanted to lift up the grass to get to them. It started in one spot then expanded. The owners wanted to capture the raccoons before re-seeding the lawn. I got some straw and put pumpkins over the dug up area. By the time this Palo Alto house went on the market I had several bales of straw and a few scare crows all over the front lawn. It looked like Halloween and covered up the offending torn up lawn. We eventually relocated the raccoons, and re- seeded the lawn for the new owners.

So as Halloween approaches, if you are selling your home in Palo Alto have fun with the holiday and be careful not to put up anything that could scare a young child, or detract from the better points of your lovely Palo Alto home for sale.

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
BRE 01191194
650-619-9285

Friday, April 5, 2013

When Selling a Palo Alto Home You Can Never Have Too Many Flowers

When selling a home in Palo Alto 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 Palo Alto home 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 Palo Alto home you are selling?

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

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 Palo Alto home you are selling.

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
DRE 01191194
650-619-9285

Thursday, March 14, 2013

When Selling a Palo Alto Home Bring the Cleaners In Before You Close

Are you selling a home in Palo Alto? If so you may take a look at the market conditions and think, I don't have to be nice to the buyers, they should be grateful I am letting them buy my house. This would be a reasonable conclusion considering that so many homes have multiple offers and most buyers are paying 10-20%+ over list price with no contingencies. Seems like a Palo Alto seller's paradise right? Not so fast.

Yes, there are more buyers than sellers in Palo Alto right now. Yes, it seems like sellers are in total control; but we have been down this path before. Buyers will get caught up in the emotions of so much competition to get a home. They will make all kinds of offers that are fraught with risks for the buyer. Before escrow closes on the Palo Alto house you are selling the buyer may be grateful, but once they own the home things can change.

Buyers of all homes can never know all of the things that are wrong, or that will go wrong. As long as the market is appreciating they may not be bothered by a water heater that leaks or a heater that makes noise. But if the home does not keep appreciating the good will may start to diminish. If you add to that a buyer who feels as if he/she was bullied by the seller there is a recipe for problems, ranging from annoying calls and messages to a law suit.

There is no way to completely eliminate the possibility of being sued by a buyer, but there are some things you can do to minimize this unfortunate circumstance. There is the obvious one of disclosing everything. Don't hide material facts from buyers.

However, there are additional things you can do to make a buyer feel as if the transaction was a win for both sides. One of the easiest things you can do when selling your Palo Alto home is remove all personal property and trash from the home, and bring in a cleaner. Even if you had the Palo Alto home you are selling professionally cleaned when you put it on the market, do it again after you leave. When the buyer comes into a home that they have just paid hundreds of thousands of dollars more than they were expecting, and often more than the home will appraise for, don't you think they at least deserve to have a clean home when they move in? It may not seem like a big deal, but the feeling the buyer gets when they come into a clean empty home is priceless.

Trust me, the buyer will feel so much better about a Palo Alto seller who leaves them with a clean, fresh smelling home with no trash, than a Palo Alto seller who leaves a dirty home with trash still in the garbage or even worse all over the house or garage. So when you sell your Palo Alto home, take the outrageous price with no contingencies, but do something nice for the buyer. End the transaction with everyone feeling good and hopefully it will be the end, and not just the beginning a bad relationship.

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

Marcy Moyer

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Monday, February 25, 2013

Palo Alto Sellers: Which is Riskier, A Loan Or Inspection Contingency?

If you are a Palo Alto home 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 Palo Alto home 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 Palo Alto home before the sale including property, termite, roof, chimney, and foundation if appropriate.

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 Palo Alto 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 Palo Alto 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 Palo Alto home 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 Palo Alto home 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 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

Wednesday, February 13, 2013

Palo Alto Sellers, Should Your Real Estate Agent Represent A Buyer?

There is an easy answer to the question should the real estate agent for the Palo Alto Seller also represent the buyer?

NO NO NO NO NO NO NO NO NO NO NO!!!!!!!

Should I say it again? NO!!!!!

There are many reasons why Palo Alto real estate agents should not represent the Palo Alto buyer and Palo Alto seller from the Palo Alto real estate agent's perspective, but this blog is about why is is not good for the seller.

Selling a home in Palo Alto is a big deal. There are very few on the market, right now only 25 single family Palo Alto homes are for sale. There are hundreds of people trying to buy a home in Palo Alto so each home that is for sale in Palo Alto will most likely get many offers, especially if it is listed for less than 2.5 million. While it is not illegal for a Palo Alto real estate agent to represent both the buyer and seller in a single transaction it is pretty impossible to be objective when there are 20 offers and your Palo Alto Real Estate agent is representing one of them.

When you sell a home in Palo Alto your Palo Alto real estate agent should be able to guide and advise you as to which is the best offer, what is the best way to counter, or not counter, what are the pros and cons of each offer. If your Palo Alto real estate agent is also one of the buyer's agent, just how objective is that advice going to be?

So, when you you are selling a home in Palo Alto make sure that your wishes about the Palo Alto real estate agent's representing or not representing a buyer are known up front. If you don't want it (which I hope you dont't,) get it in writing

with the listing agreement.

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

Marcy Moyer

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Monday, February 11, 2013

When Selling a Home In Palo Alto Should You Counter Multiple Offers?

As a Palo Alto Real Estate Agent I am asked this question many time. When selling my home in Palo Alto should I give multiple counters to the buyers who make offers?

In my opinion there is no right or wrong answer, but I can give you what I think are some common sense guidelines.

1. Where is the original list price? When you sell your home in Palo Alto your Palo Alto Real Estate Agent will give you an opinion as to where your home will sell. It will generally be a range between what he/she thinks the bottom and top are. It is just a guess, although most Palo Alto Real Estate agents will be able to give you an educated guess. If you decide to list the home at the top of that range, your decision to counter or multiple counter an offer may be different than if you list at the bottom of that range. You will have a better chance of getting a higher price with a counter or multiple counter if you have listed at the lower end of the range than at the higher.

2. Are there several offers that are all clumped together in price and/or terms? If you are selling a home in Palo Alto and the list price is $1,600,000 and the highest offer is $1,675,000, but there are a number of other offers between $1,665,000 and $1,674,000, with similar contingencies, or lack of contingencies, then as a Palo Alto Real Estate Agent I would advise you to counter all the offers in that price range.

3. If the home you are selling in Palo Alto is listed at $1,600,000 and you have one offer at $1,7000,000 with terms that are acceptable, and all the other offers are $1,675,000 and below, I would advise taking the highest offer and working with that one. My rationale is "Dont get greedy." If only one person thought the home was worth $1,700,000 and you counter that person, he/she may walk away, leaving you with offers that my never even get to $1,700,000.

4. If the home you are selling in Palo Alto has a current market value of $1,600,000 at the top of the price range, and that is where you list it, I would advise that you take the best offer of $1,6000,000 or higher and be happy you got it. If the best offer is $1,610,000 and the other offers are in the $1,550,000 range, do not expect that the others will come up, just because one buyer did.

There is a real art to knowing when to counter, when to multiple counter, and when to accept. Hopefully you will have picked a Palo Alto real estate agent who is savy enough about these negotiations to help guide you through the process of selling your home in Palo and getting you the best price and terms for the home you are selling in Palo Alto.

If you have any questions about selling a home in Palo Alto or picking a Palo Alto real estate agent please feel free to

contact me, a Palo Alto Real Estate Agent myself.

Marcy Moyer

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Thursday, January 24, 2013

Window Coverings and Selling A Palo Alto Home: What Should You Do?

When you sell your home in Palo Alto you want it to look as good as possible. Yes, if it is old and small it may be torn down; but chances are someone who wants to keep the house will also be interested in making an offer on your Palo Alto home. So, you want to make it as attractive as possible, while keeping it neutral. As a Palo Alto real estate agent I can assure you neutrality is important when selling a home in Palo Alto because the potential buyer needs to be able to picture themselves and their furnishings in your house. This is much easier if you do not have something like thick velvet red curtains or broken plastic shades.

There are two big potential problems with window coverings when you sell your Palo Alto home.
There are few things more specific and less neutral than window coverings.

Window coverings are designed to block out light and most buyers are looking for homes that have abundant natural lighting.

If you are a Palo Alto seller who happens to have Hunter Douglas shades that are gorgeous, modern, and add privacy while still letting in light, read no further. If you have wood or plantation shutters make sure to leave them open, the whole shutter and not just the slats open to let light in.

However, if you are like most people who are selling Palo Alto homes you should get rid of your window coverings. They are old, broken, ugly, dusty, or smelly. They may make it easier for you to sleep, or prevent people from looking in at you eating, but they will turn off potential buyers.

In the living spaces like your living room, family room, or dining room you do not need to have window coverings while you are selling your Palo Alto home. If you are still living in the home while it is for sale you can get something light and modern from Bed Bath and Beyond or Penny's for the bedrooms. Just get a neutral color curtain and keep them open during the days.

When selling your Palo Alto home the goal is to get as many people as possible into the house and allowing them to picture themselves living there. Since most buyers of Palo Alto homes want light then you should do as little as possible to prevent light from coming through the windows. Keep the window coverings light and neutral when you sell your home in Palo Alto and you will have a more successful sale.

If you have any questions about selling a home in Palo Alto please feel free to contact me. I am a Palo Alto real estate agent who lives and works here

Marcy Moyer
Keller Williams Realty Palo Alto
www.marcymoyer.com
marcy@marcymoyer.com
D.R.E. 01191194
650-619-9285

Friday, January 18, 2013

When Selling Your Palo Alto Home When Should You Have An Open House?

When you sell your Palo Alto home your real estate agent will discuss with you when you should have open houses. This is an extremely important part of the Palo Alto home sale, so you must take this very seriously.

Most likely the first open for your Palo Alto house will be the Broker's Tour. This happens on Friday, and most of the homes that are being offered for sale in Palo Alto will be open for other real estate agents to see. Some may also bring potential buyers with them. This open house happens on Friday morning from 9:30-1. Many agents will offer an enticement for agents to come to the open house such as a catered lunch, coffee cart, or gift certificate. When selling your home in Palo Alto this broker's tour is a great opportunity for agents to see your home, and let their clients know if it may suit their needs. It is customary for the Palo Alto seller not to be home during the Broker's Open, so find a nice place to be that morning and allow the agents to give open feedback about your home, the price, and how it is prepared.

When selling your home in Palo Alto the week-end is the next opportunity for an open house, this time for the public. I always recommend holding open houses on Saturday and Sunday for as many hours as possible in order to give as many buyers as possible a chance to see the Palo Alt home you are selling. The traditional hours are from 1:30-4:30

Sometimes agents will suggest additonal open houses, such as early evening opens during daylight savings hours. If the home you are selling in Palo Alto looks particularlly beautiful at night, an evening open house may be suggested.

When you sell your home in Palo Alto having as much time for exposure is really in your best interest. You want to get as many people in the house in as short a time frame as possible so your home can sell and your life can get back to normal.

However, you may be selling your home because of advancing age, decreasing mobility, or illness. if this is the case it may not be convenient for you to leave the house for open houses. If this is the case you may be able to get the benefits of an open house by staying home and confining yourself to just one room while people are coming through.

The purpose of an open house while selling your home in Palo Alto is to get as many people as possible in your home in as few hours as possible. So it is really in your best interest to agree to open houses, and help yourself get a quick sale.

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

D.R.E. 01191194

650-619-9285

Tuesday, January 15, 2013

If I Sell My Home In Palo Alto Can I Stay There Until School Is Out?

In case you have not noticed this is an amazing time to sell your home in Palo Alto. However, if you have children who are still in school you may not want to disrupt their school year so you may be thinking of putting off selling your Palo Alto home until school is out. This may not always be necessary.

There are dozens of people who just want to buy in Palo Alto. It does not matter to many of them if they have to wait a few months for possession because it could take many more months to get an offer for a Palo Alto home accepted.
Selling a Palo Alto Home

If you are selling your home in Palo Alto and you want to stay until school is out you need to tell your agent to explain to buyers that while you are able to close before June, the house will not be available for the new buyers until the end of June. You may have to pay the buyer rent for the time between the close of escrow and when you leave your Palo Alto home, but you may not. Some very motivated buyers may offer to let you live in the home for free in order to entice you to take their offer.

The only potential snag when you are selling your home in Palo Alto is that some lenders will not allow a rent back longer than 30-60 days so if your buyer is getting a loan you may need to adjust the close of escrow for those number of days. If you have a cash buyer this will not be an issue.
So if you want to take advantage of the unbelievably low number of homes for sale and Palo Alto, and the huge number of people looking for homes in Palo Alto then by all means, if you want to sell your Palo Alto home now, then do it. Just make sure everyone involved knows your wish to stay put for a few months, and it will be granted.

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

Marcy Moyer
Keller Williams Realty Palo Alto
www.marcymoyer.com
marcy@marcymoyer.com
D.R.E. 01191194
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Friday, January 11, 2013

When Selling A Palo Alto Home What Is The Purpose Of A Title Company?

When selling a Palo Alto home your real estate agent will suggest that you open an escrow account with a title company before you put your home on the market. Most agents have title companies they prefer to use and an escrow officer with whom they like to work. For example I always choose Lee Kocjan with Fidelity National Title in San Carlos.

Most agents will have worked with a specific escrow officer so if you have someone you want to work with be sure and let your agent know.

When selling your home in Palo Alto title and escrow are handled by the same company even though title and escrow are two separate things.

The escrow officer will order a preliminary title report. This will confirm who has the right to sell the property, who has a lien on the property (your mortgage and property taxes, and possibly someone else), and will show any easements on the property. All of these things should be reviewed before you put your Palo Alto home on the market to make sure you have plenty of time to deal with any issues that may show up on the title report. For example there may be a lien on there you know you have paid off, but for some reason did not get recorded. The escrow officer can help you with that. You will be purchasing title insurance to protect the buyer in case there are any future claims by anyone who says they have an interest in the Palo Alto home you are selling.

When selling your Palo Alto home the escrow account will be the place where all the monies are held before being dispersed after close of escrow. The buyer's deposit, down payment, and loan proceeds will be help in escrow until ready for disbursement. The escrow officer will figure out the prorations for taxes and paying off your liens before dispersing the money from selling your Palo Alto home.

After all monies are in escrow and both parties agree the title company will take the deed from the person selling the Palo Alto home to the county and record it in the name of the new buyer.

To summarize when selling your home in Palo Alto the title company makes sure the new buyer has clear title to the property and records the deed. The escrow branch collects the money and then disperses it a close and makes sure everyone who is owed money gets it, and then the seller of the Palo Alto home gets the rest.

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

Marcy Moyer