How Much To Offer on a Sunnyvale Home With Multiple Offers

The real estate market for Sunnyvale town homes and condos for sale is pretty crazy right now. There are hundreds of new town homes springing up for sale in the eastern part of Sunnyvale but even so, the resale market is still on fire for sellers in Sunnyvale. Normally, if there is a lot of new construction the resale homes with suffer. This is not the case in Sunnyvale. The demand for homes has so far out paced the town homes available for sale in Sunnyvale that prices continue to appreciate and buyers need to offer more than list price to have the winning offer.

The closed sales of Sunnyvale town homes and condos was only 4.5% over list price, but that was a reflection of Sunnyvale town home and condo sales in December. By February the average sale price was 5% over the list price of Sunnyvale town homes and condos for sale. In March through May the average sale price was almost 8.5% higher than the list price of Sunnyvale town homes and condos for sale. So far in June the sales price is 11% more than the list price, reflecting the sales in May. 

So if you are faced with making an offer for a condo or town home in Sunnvale how much should you offer? Unfortunatley there is no simple answer. Logically we can not expect 10% apprecition every time there is a sale. However, the number of people looking is not decreasing significantly. What is decreasing a little is the number of investors. As the prices have skyrocked, the return on investment for a rental property is decreasing. The amount you can get for rent has not increased at the same rate as Sunnyvale town home and condo prices have. In fact, so many investors have purchased rental properties there is actually a glut on the market nation wide, and a balance in the bay area. 

The market is starting to turn back to buyers with loans intending to live in the property are the majority of people making offers, not investors with all cash.

So to the answer the question, how much should you offer on a Sunnyvale town home or condo for sale is not simple, but it is not an impossible question to answer.  Look at the true market price, not the list price, which can be anywhere from 15% below market value, true market, of 10% higher than market. Take the true market value and go up a percent or two if you want it, and maybe 5% if you REALLY want it and can cover the difference between market value and your offer in cash since the bank will only lend based on market value. You may not win every time, but eventually you will get your Sunnyvale home.

If you have any questions about buying or selling a Sunnyvale town home or condo please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

DRE 01191194

650-619-9285

Some Of The Many Ways A Lender Can Derail Buying Your Sunnyvale Home

Buying a home in Sunnyvale is not easy. There has never been more competition and other very qualified buyers. Prices are at historic highs and inventory at historic lows. Decisions must be made quickly and very often in a multiple offer situation if the Sunnyvale home buyer asks for a contingency for anything they will most likely not be the winning bid.

Making a non contingent bid on a Sunnyvale home is risky, especially if you need for the home to appraise because your down payment is only 20%. In fact, I do not recommend that anyone take that chance. Fortunately my latest Sunnyvale buyers did not have to make a non contingent offer to get the home they want, because they were in the position of only having 20% down at this point. 

Being able to have an offer accepted with a loan contingency for a Sunnyvale home was lucky for them, because the mortgage broker almost derailed the sale.

My clients were pre approved with a mortgage broker from a well known and respected company. The husband had a resident alien visa and he and his wife were pre approved through the mortgage company for a jumbo loan with 20% down. The mortgage broker was going to use Chase.

My clients made an offer on a home in Sunnyvale that is on a fairly busy street and unlike many other Sunnyvale homes for sale was not listed under priced. They were the only Sunnyvale buyers making an offer and so they were able to ask for a loan and appraisal contingency and the sellers agreed.

The appraisal was fine, but the day the contingency should have been removed Chase said they did not qualify for the loan because resident aliens needed 30% down for a jumbo loan. This information should have been known by the mortgage broker, but it wasn't. I can not explain why.

Fortunately the sellers gave my Sunnyvale buyers an extension and the mortgage broker found another lender who would loan 80% on a jumbo loan and managed to close only 2 days late. 

However, this could easily have gone the other way. The sellers could have not given an extension. The mortgage broker could have not found another loan. The mortgage broker could have found another lender but they may not have appraised the house for the offered price.

Bottom line this should not have happened. The mortgage broker should have known the rules. This could have cost my buyer the sale.  I can not tell you how many times my Sunnyvale buyers said they should have used my favored lender.

I did not say I told you so. Not needed.

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

If you would like to search for homes for sale in Sunnyvale click here.

Marcy Moyer

Keller Williams Realty Palo Alto

www.marcymoyer.com

marcy@marcymoyer.com

CAL BRE 01191194

650-619-9285

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

Anyone trying to buy a condo in Sunnyvale right now knows that it is tough out there. There are many more buyers than sellers and many Sunnyvale 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 Sunnyvale 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 Sunnyvale 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 Sunnyvale 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 Sunnyvale 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 Sunnyvale 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 Sunnyvale real estate agent he or she can help guide you through the murky waters of Sunnyvale multiple offers.

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

If you would like to search for homes for sale in Sunnyvale click here.

 

Marcy Moyer

Keller Williams Realty Palo Alto 

www.marcymoyer.com

marcy@marcymoyer.com

Ca B.R.E. 01191194

650-619-9285

Why Dec 26 Is a Great Time To List Your Sunnyvale Home

I know what you are thinking, I am going to wait till after the first of the year or the spring to sell my Sunnyvale home. 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 Sunnyvale, especially right after Christmas.

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

1. The inventory has never been lower. As of today there are only 17 homes for sale in Sunnyvale. A buyer's market doesn't even happen until there are over 80 homes for sale. List this month and you will have no compettion.

2. There are many people who are planning on moving to Sunnyvale who are using winter break to come and look for a home. When there are only 7 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 Sunnyvale schools begins Feb 1 so there are many people with school age children who want a Sunnyvale address when registration begins so they are assured of their neighborhood school. Selling a Sunnyvale 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 Sunnyvale then my sugestion 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 Sunnyvale please feel free to contact me.

Marcy Moyer

Keller Williams Realty Palo Alto

www.marcymoyer.com

marcy@marcymoyer.com

Cal BRE 01191194

650-619-9285

Sunnyvale Community Players

Sunnyvale Community Players are a nonprofit theatre company.  They produce 4-5 shows every season that have specific cast requirements. The have productions for casts of Junior (8- 18 years old), Young Adult (13-26 years old), and Adult ( 18 years old and older).

 

I saw their first show of the season, Pippin.  The cast was obviously having a lot of fun and really putting their energy into the show. This made the audience glued in, which was great because there was a few numbers that asked for audience participation. The production used the alternate ending, which Stephen Shwartz, the lyricist and composer, prefers. It made the production very powerful. This was the first time I saw a Sunnyvale Community Players production and it made me look forward to attending another one.

 

Zombie Prom will be performed November 1- November 24, 2013. Think Grease, but with zombies! It isn’t scary at all and tries to keep that fun, retro energy throughout the whole show.  Tickets are $24 for Adults, $21 for students and seniors, and $11 for children 5 years old and younger.  Thursday productions are $21. There is a $3 service fee for each ticket.  If you buy tickets before October 27, use the code FERMI to get 25% off.

 

A Little Princess is a Junior production that runs from February 21- March 16, 2014. Auditions are December 2 & 3, 2013. More information is available in this audition packet, http://sunnyvaleplayers.org/docs/Auditions/A%20Little%20Princess%20Audition%20Packet.pdf .

 

Little Shop of Horrors will run from April 4- April 27, 2014. Auditions are December 16 & 17, 2013. More information is available in this audition packet, http://www.sunnyvaleplayers.org/docs/Auditions/Little%20Shop%20Audition%20Packet.pdf .

Sunnyvale Community Center hosts the Sunnyvale Community Players at 550 Remington Drive, Sunnyvale.  It is a cozy theatre that could have no “bad seats.” If you have never been there before I would recommend going early to find which building to park next to because it is a sprawling recreational complex. I hope you are able to attend Sunnyvale Community Player’s productions in the future!

 

If you want to look for homes for sale near Sunnyvale Community Theatre click Sunnyvale homes for sale

 

If you have any questions about living in Sunnyvale please feel free to contact me.

 

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

Cal BRE 01191194

650-619-9285

How Much Should I Offer For That Sunnyvale Ca. Town Home or Condo?

The real estate market for Sunnyvale town homes and condos for sale is pretty crazy right now. There are hundreds of new town homes springing up for sale in the eastern part of Sunnyvale but even so, the resale market is still on fire for sellers in Sunnyvale. Normally, if there is a lot of new construction the resale homes with suffer. This is not the case in Sunnyvale. The demand for homes has so far out paced the town homes available for sale in Sunnyvale that prices continue to appreciate and buyers need to offer more than list price to have the winning offer.

The closed sales of Sunnyvale town homes and condos was only 4.5% over list price, but that was a reflection of Sunnyvale town home and condo sales in December. By February the average sale price was 5% over the list price of Sunnyvale town homes and condos for sale. In March through May the average sale price was almost 8.5% higher than the list price of Sunnyvale town homes and condos for sale. So far in June the sales price is 11% more than the list price, reflecting the sales in May.

So if you are faced with making an offer for a condo or town home in Sunnvale how much should you offer? Unfortunatley there is no simple answer. Logically we can not expect 10% apprecition every time there is a sale. However, the number of people looking is not decreasing significantly.

What is decreasing a little is the number of investors. As the prices have skyrocked, the return on investment for a rental property is decreasing. The amount you can get for rent has not increased at the same rate as Sunnyvale town home and condo prices have. In fact, so many investors have purchased rental properties there is actually a glut on the market nation wide, and a balance in the bay area.

The market is starting to turn back to buyers with loans intending to live in the property are the majority of people making offers, not investors with all cash.

So to the answer the question, how much should you offer on a Sunnyvale town home or condo for sale is not simple, but it is not an impossible question to answer.  Look at the true market price, not the list price, which can be anywhere from 15% below market value, true market, of 10% higher than market. Take the true market value and go up a percent or two if you want it, and maybe 5% if you REALLY want it and can cover the difference between market value and your offer in cash since the bank will only lend based on market value. You may not win every time, but eventually you will get your Sunnyvale home.

If you have any questions about buying or selling a Sunnyvale town home or condo please feel free
to contact me.

Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
DRE 01191194
650-619-9285

New listing: Sunnyvale 4 Plex

Marcy Moyer | Keller Williams Realty | (650) 619-9285 1008 Helen Ave, Sunnyvale, CA Sunnyvale 4 Plex in a Superb Location Near El Camino and Lawrence 8BR/4BA Multi-Family, 4 units offered at $915,000 Year Built 1961 Sq Footage 2,910 Bedrooms 8 Bathrooms 4 full, 0 partial Floors 2 Parking 4 Covered spaces Lot Size 6,708 sqft HOA/Maint $0 per month DESCRIPTION Great 4 plex in a great location near Lawrence and El Camino. This large 4 plex offers the investor an excellent chance to take advantage of the HOT Sunnyvale rental market. see additional photos below PROPERTY FEATURES - Tile floor - Living room - Refrigerator - Stove/Oven COMMUNITY FEATURES - Covered parking - Laundry on-site OTHER SPECIAL FEATURES - 4 units, 2 bedroom 1 bath each - Pretty garden area - Great location - Excellent upside rental potential - Room air-conditioners ADDITIONAL PHOTOS Front Side Rear Side Garden Carport Kitchen Kitchen floor Bedroom Bedroom Bath Bath Laundry Contact info: Marcy Moyer Keller Williams Realty (650) 619-9285 For sale by agent/broker Posted: May 25, 2012, 7:07am PDT

Sunnyvale Townhome Open This Saturday, 1-4PM

Marcy Moyer | Keller Williams Realty | (650) 619-9285 969 Asilomar Ter Apt 4, Sunnyvale, CA Elegant Sunnyvale Mediterranean Townhome 2BR/2+1BA Townhouse offered at $535,000 Year Built 1991 Sq Footage 1,553 Bedrooms 2 Bathrooms 2 full, 1 partial Floors Unspecified Parking 2 Car garage Lot Size 2,613 sqft HOA/Maint $411 per month DESCRIPTION OPEN SATURDAY 5/26, 1-4PM. Welcome to Expressions in Sunnyvale. This large 2 bedroom/2.5 bath townhome features 1553 square feet, 2 master suites, granite kitchen counters, walk in closet, huge master bath with a soaking tub and separate shower, 2 balconies and a patio, and a lovely gated complex with a pool and spa. see additional photos below PROPERTY FEATURES - Central heat - Fireplace - High/Vaulted ceiling - Walk-in closet - Tile floor - Living room - Dining room - Dishwasher - Refrigerator - Stove/Oven - Microwave - Granite countertop - Laundry area - inside - Balcony, Deck, or Patio - Swimming pool - Jacuzzi/Whirlpool COMMUNITY FEATURES - Garage parking - Guest parking - Swimming pool(s) - Sauna/Spa - Playground - Gated property - Secured entry OTHER SPECIAL FEATURES - Elegant Sunnyvale Townhome ADDITIONAL PHOTOS Front Living room Living room Fireplace Dining room Breakfast Bar Kitchen Half bath Master bedroom Master bath tub Master bath vanity Bedroom 2 Patio Pool Park Contact info: Marcy Moyer Keller Williams Realty (650) 619-9285 For sale by agent/broker Posted: May 25, 2012, 8:40am PDT

Does Sunnyvale Win for Having the Most Variety in School Districts?

Many cites in the Silicon Valley have multipe school districts that the homes feed into, but I think Sunnyvale wins for the most variety.  All of these combinations are possible:

1. Sunnyvale with Sunnyvale Schools
2. Sunnyvale with Cupertino Schools
3. Sunnyvale with Santa Clara Schools

Within these districts there are numerous combinations of Middle Schools and High Schools
So, with Sunnyvale with Sunnyvale Schools there are 2 possible middle schools: Columbia or Sunnyvale. Columbia covers the eastern part of Sunnyvale and Sunnyvale Middle the western portion.

High Schools for Sunnyvale elementary schools are either Fremont High or Homestead High.

Ok, so Sunnyvale with Cupertino Schools. Here the possibility of Middle school is Cupertino Middle and again either Fremont High or Homestead High.

And finally there is Santa Clara Unified. The Middle School would be Peterson and the High School Wilcox.

It can be confusing! So if you are doing a home search and are interested in a particular school or school district, go to the district's web site and look up the boundaries and also the specific address if you are interested in a particular home.

If you have any questions about buying or selling a home in Santa Clara or San Mateo County please feel free to contact me.

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

Should I Buy a Big or Small Home in Sunnyvale?

any buyers face the question should I buy smaller than I can afford or a larger home that I can afford but is at the higher end of what I can afford. the answer to this is complex and very personal but here are some things to consider:

If I buy smaller:

1. More affordable so better cash flow and safer if unexpected bills or income decreases occur

2. Less money for utilities

3. May have to move sooner if family grows

If I buy larger:

1. More expensive so riskier for cash flow

2. More money for utilities

3. Can expand household without having to move. This may be important if conditions are not favorable for selling in the future or if interest rates are much higher in the future.

There is no way to know what the market will look like 3,5, or 10 years from now, so there are always going to be risks. The important thing is to determine which risks are more comfortable for you.

I can say that I have visited a number of new home developments recently. Fusion and Fair Oaks in Sunnyvale and Toscana in Santa Clara.  At all of these developments  the larger homes are selling faster and the builders built more smaller than larger homes. So, in general, you may get a better deal, or at least an easier buy with the smaller purchase, but the larger homes may be an easier resell, if the popularity of larger stays the same.

If you have any questions about buying or selling homes in Santa Clara or San Mateo counties, please feel free to contact me.

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 Short Sales and Trust and Probate Sales