Santa Clara Ca Real Estate Market Update 6/10/2013

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

Not enough inventory, plenty of buyers.

There are currently 40 single family Santa Clara homes for sale, the same as last week.

There are currently 26 Santa Clara town homes/condos for sale, down from 27 last week.

There are currently 71 pending sales of Santa Clara single family homes, down from 78 last week.

There are currently 50 pending sales of Santa Clara town homes/Condos, up from 42 last week.

In May of 2013 there were 45 single family Santa Clara homes sold, 6 more than the number in April, ranging in price from $495,000 to $1,290,000. This shows a decrease in price range of 10% for the lowest priced home sold in April. The highest is the up 3% from April.

In May of 2013 there were 33 Santa Clara Town Homes/Condos sold, five more than in April.  They ranged in price from $280,000 to $825,000. Again the low end is about 25% higher and the high end about the same. The lowest priced traditional sale was $275,000 in April so a low price of $280,000 is not that significant.  

Santa Clara single family home listings had a good jump last week, up about 20% from the previous week. This week there was no change but that is not too surprising considering the large jump after Memorial Week-end.  Hopefully as more homeowners come out from being underwater (owing more on their home than it is worth) more sellers will be able and willing to sell. However, there was not an increase in condos for sale and this is important as there are so many young people trying to 

buy their first homes and so few condos for them to buy.

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 Santa Clara please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Menlo Park Ca Real Estate Market Update 6/10/2013

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

Not enough inventory, plenty of buyers.

There are currently 43 single family Menlo Park homes for sale up from 41 last week.

There are currently 14 Menlo Park town homes/condos for sale the same up from 10 last week.

There are currently 40 pending sales of Menlo Park single family homes down from 41 last week.

There are currently 9 pending sales of Menlo Park homes/Condos the same as last week.

In May of 2013 there were 47 single family Menlo Park homes sold.  The prices ranged from $450,000 to $4,395,000. The lowest priced home in Belle Haven is down $45,000 from April is significant and may show that the market is starting to level off. If you look at just the Menlo Park homes with Menlo Park schools the lowest price in April was $936,000 also down a little form April when no homes with Menlo Park schools sold under a million. This also may indicate that the market is starting to level off.

In May of 2013 there were 7 Menlo Park Town Homes/Condos sold.   The prices ranged from $375,000 to $1,475,000. This is a high starting price point for condos as well. The lowest price condo that is not senior only housing was $690,000 for a 2 

bedroom in Sharon Park, down 10K from April. This also points to a leveling off of the market.

The inventory of single family homes for sale in Menlo Park is still at historically low levels, but at least better than last week. I am hoping that as the summer progresses we will have more inventory.  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 Menlo Park please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Mountain View,Ca Real Estate Market Update 6/10/2013

There are currently 18 single family Mountain View homes for sale,  down from 25  last week.

There are currently 9 Mountain View town homes/condos for sale,  down from 11 last week.

There are currently 38 pending sales of Mountain View single family homes,  down from 35 last week.

There are currently 40 pending sales of Mountain View Town homes/Condos, down from from 41 last week.

In May, 2013 there were 20 single family Mountain View homes sold ranging in price from $765,000 to $1,510,000.  The volume was the same and the low end is about the same as Feb and March, but the high end is not as high as in April.

In May, 2013  there were 38 Mountain View Town Homes/Condos sold ranging in price from $357,000 to $1,350,000. The low end was very similar to April, the volume up a little, and the high end up by $100,000.

The inventory is down this week in condos and single family home listings.  I would like to see at least 40 single family homes for sale and at least 60 condos for sale at any given week. I think as the summer goes on it may still be possible. In some communities such as Palo Alto and Menlo Park there are many empty nestors who would be selling, but do not because their grown children come back to live with them; this is not the case for a Mountain View condo. Many condo owners who would have sold to move up were not able to when prices were below their original purchase price. Appreciation has wiped out that problem so hopefully we see more condo sellers soon.

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

Palo Alto Ca Real Estate Market Update 6/9/2013

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.

There are currently 34 single family Palo Alto homes for sale up from 27 last week.

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

There are currently 30 pending sales of Palo Alto single family homes, down from 37 last week.

There are currently 10 pending sales of Palo Alto Town homes/Condos, down from 15 last week.

In April of 2013 there were 46 single family Palo Alto homes sold, about 50% more than in March. The prices ranged from $1,050,000 to $10,000,000. No homes under a million is significant.

In April of 2013 there were 9 Palo Alto Town Homes/Condos sold, down 3 from March.  The prices ranged from $785,000 to $1,350,000. This is a high starting price point for condos as well. 

This week the lowest price listing of a single family home is $1,099,000 which is higher than the lowest priced sale in April. Since most homes get multiple offers and sell higher than list price it is reasonable to expect that the lowest priced sale could be over $100,000 higher than the lowest sale  in all of April. In other words, the market is still appreciating.

We had a nice little increase in inventory this week with a decrease in pending sales. I believe this trend will continue and still hope that in June and July may see weekly homes in the 40's as more sellers seem to coming into the market. 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 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

Menlo Park Ca Real Estate Market Update 6/2/2013

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

Not enough inventory, plenty of buyers.

There are currently 41 single family Menlo Park homes for sale up from 39 2 weeks ago.

There are currently 10 Menlo Park town homes/condos for sale the same as 2 weeks ago.

There are currently 41 pending sales of Menlo Park single family homes down from 47 2 weeks ago.

There are currently 9 pending sales of Menlo Park homes/Condos up from 6 2 weeks ago.

In May of 2013 there were 47 single family Menlo Park homes sold.  The prices ranged from $450,000 to $4,395,000. The lowest priced home in Belle Haven is down $45,000 from April is significant and may show that the market is strating to level off. If you look at just the Menlo Park homes with Menlo Park schools the lowest price in April was $936,000 also down a little form April when no homes with Menlo Park schools sold under a million. This also may indicate that the market is starting to level off.

In May of 2013 there were 7 Menlo Park Town Homes/Condos sold. The prices ranged from $375,000 to $1,475,000. This is a high starting price point for condos as well. The lowest price condo that is not senior only housing was $690,000 for a 2 bedroom in Sharon Park, down 10K from April. This also points to a leveling off of the market.

This week the lowest price listing of a single family home  with Menlo Park schools is $899,000 which is $200,000 lower than 2 weeks ago. It is too early to say but it is possible that all the signs are pointing towards a leveling off of the rapid appreciation that happened this year. 

The inventory of single family homes for sale in Menlo Park is at historically low levels. I am hoping that as the summer progresses we will have more inventory.  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 Menlo Park please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Santa Clara Ca Market Update 6/2/2013

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

Not enough inventory, plenty of buyers.

There are currently 40 single family Santa Clara homes for sale, up from 32 last week.

There are currently 27 Santa Clara town homes/condos for sale, the same as last week.

There are currently 78 pending sales of Santa Clara single family homes, down from 82 last week.

There are currently 42 pending sales of Santa Clara town homes/Condos, up from 40 last week.

In May of 2013 there were 45 single family Santa Clara homes sold, 6 more than the number in April, ranging in price from $495,000 to $1,290,000. This shows a decrease in price range of 10% for the lowest priced home sold in April. The highest is 

the up 3% from April.

In May of 2013 there were 33 Santa Clara Town Homes/Condos sold, five more than in April.  They ranged in price from $280,000 to $825,000. Again the low end is about 25% higher and the high end about the same. The lowest priced traditional sale was $275,000 in april so a low price of $280,000 is not that significant.  

Santa Clara single family home listings had a good jump this week, up about 20% from last week.  Hopefully as more homeowners come out from being underwater (owing more on their home than it is worth) more sellers will be able and willing to sell. However, there was not an increase in condos for sale and this is important as there are so many young people trying to buy their first homes and so few condos for them to buy.

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 Santa Clara please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Mountain View Ca Real Estate Market Update 6/2/2013

There are currently 25 single family Mountain View homes for sale,  up from 20  last week.

There are currently 11 Mountain View town homes/condos for sale,  down from 18 last week.

There are currently 35 pending sales of Mountain View single family homes,  down from 36 last week.

There are currently 41 pending sales of Mountain View Town homes/Condos, up from from 37 last week.

In May, 2013 there were 20 single family Mountain View homes sold ranging in price from $765,000 to $1,510,000.  The volume was the same and the low end is about the same as Feb and March, but the high end is not as high as in April.

In May, 2013  there were 38 Mountain View Town Homes/Condos sold ranging in price from $357,000 to $1,350,000. The low end was very similar to April, the volume up a little, and the high end up by $100,000.

The inventory is down this week on condos and up on single family home listings. I would have thought there would be more condos after a holiday week-end.  I would like to see at least 40 single family homes for sale and at least 60 condos for sale at any given week. I think as the summer goes on it may still be possible. In some communities such as Palo Alto and Menlo Park there are many empty nestors who would be selling, but do not because their grown children come back to live with them; this is not the case for a Mountain View condo. Many condo owners who would have sold to move up were not able to when prices were below their original purchase price. Appreciation has wiped out that problem so hopefully we see more condo sellers soon.

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

Palo Alto Real Estate Market Update 6/2/2013

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.

There are currently 36 single family Palo Alto homes for sale up from 27 last week.

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

There are currently 36 pending sales of Palo Alto single family homes, down from 37 last week.

There are currently 11 pending sales of Palo Alto Town homes/Condos, down from 15 last week.

In May of 2013 there were 42 single family Palo Alto homes sold, about 4 less than in April. The prices ranged from $975,000 to $6,974,000. There were 2 homes under a million, unlike in April when there were no sales under a million.

In May of 2013 there were 12 Palo Alto Town Homes/Condos sold, up from 7 March.  The prices ranged from $541,000 to $1,358,000. The condo for $541,00 was a one bedroom. 

This week the lowest price listing of a single family home is $1,088,000 which is higher that the lowest priced sale in May. Since most homes get multiple offers and sell higher than list price the market is still appreciating.

It is the week after Memorial Week-end so this increase was expected. New listings rarely come on the market on holiday week-ends. The fact that all the pending sales are down is from the lack of new inventory over memorial week.  However, I think that June and July may see weekly homes in the 40's as more sellers seem to coming into the market. 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 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

Why Do I Have to Wait So Long To Make An Offer on a San Jose Probate?

The San Jose real estate market is hot. Homes go on the market and are sold a few days later, usually with multiple offers. They will often be open over a week-end and then offers will be presented on the following Tuesday or Wednesday. But if the home is a San Jose probate sale, it often takes longer. Why is that?

The answer is not always the same, and some San Jose probate sales will sell quickly, but most go through a process that is longer than the typical traditional resale. The main reason is that the Personal Representative for the San Jose Probate sale either needs to take the home to court for confirmation, or is trying to avoid taking the home to court for confirmation.

Here is how it works:

Court Confirmation Required:

The administrator of the estate is not given full authority by the Probate Court to sell the home. He or she can arrange for the home to go on MLS and can accept an offer, but that offer must be taken to Probate Court and at that time, other potential buyers have the opportunity to make non contingent offers on the home at a higher price than the original accepted offer. This way, the court can prove to all heirs that the home had full exposure to the market and is being sold at the highest price and best terms possible. None of the heirs can say everything was not done to get the most for the house.

Court Confirmation May Not Be Required

The Personal Representative of the San Jose Probate sale has full authority to sell the home. He or she can hire a real estate agent, accept an offer, and then send out a Notice of Proposed Action. A Notice of Proposed Action tells the heirs that the home is going to be sold for the accepted amount and they have a specific time period to object if they do not think the sale should go through. If there are no objections to the San Jose Probate sale, it will go through. If there are, the San Jose Probate home must go through the same court confirmation process as above. It is much easier for the Personal Representative for a 

San Jose Probate sale to prove the offer is the best they will get by having full exposure of the house to the open market. It is very difficult to prove in court that 4 days on the market is full exposure. I always have my San Jose Probate sales on the market for 2 week-ends of open houses before offers are reviewed. I have done this in good markets and bad, and have yet to get an objection on the Notice of Proposed Action.

So if you are selling a San Jose Probate home, it is safer to have the home on the market for a longer than average marketing time to help prevent objections. If you are buying a San Jose probate home be happy that you have some extra time to make this big decision.

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

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

DRE 01191194

650-619-9285

Santa Clara Ca Market Update 5/23/2013

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

Not enough inventory, plenty of buyers.

There are currently 32 single family Santa Clara homes for sale, down from 50 last week.

There are currently 27 Santa Clara town homes/condos for sale, up from 23 last week.

There are currently 82 pending sales of Santa Clara single family homes, up from 56 last week.

There are currently 40 pending sales of Santa Clara town homes/Condos, down from 46 last week.

In April of 2013 there were 39 single family Santa Clara homes sold, 3 less than the number in March.,  ranging in price from $540,000 to $1,250,000. This shows an increase in price range of 10% for the lowest priced home sold. The highest is the same as March.

In April of 2013 there were 27 Santa Clara Town Homes/Condos sold, only one more than in March.  They ranged in price from $225,000 to $805,000. Again the low end is about 10% higher and the high end about the same. what is more significant is that the lowest priced condo at $225,000 was a short sale so the contract date was many months earlier. The lowest priced traditional sale was $275,000.  The lowest price traditional sale in March was $225,000. This shows over a 20% increase in the low end.

Santa Clara defied expectations this week by having more active condos on the market than last week. However, there was a steep drop in single family home listings due to the holiday week-end. Hopefully as more homeowners come out from being underwater (owing more on their home than it is worth) more sellers will be able and willing to sell.

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 Santa Clara please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Mountain View Ca Real Estate Market Update 5/25/2013

There are currently 20 single family Mountain View homes for sale,  down from 26  last week.

There are currently 18 Mountain View town homes/condos for sale,  down from 22 last week.

There are currently 36 pending sales of Mountain View single family homes,  up from 29 last week.

There are currently 37 pending sales of Mountain View Town homes/Condos, down from from 44 last week.

In April, 2013 there were 18 single family Mountain View homes sold ranging in price from $705,000 to $1,900,000.  The volume was the same and the low end is about the same as Feb and March, but the high end is significantly higher..

In April, 2013  there were 32 Mountain View Town Homes/Condos sold ranging in price from $305,000 to $1,210,000. There were almost twice as many sales in April as in March, which is good, but the lowest price condo sold 10% over the lowest price in March.

The inventory is down this week as expected as it is a holiday week-end. I would like to see at least 40 single family homes for sale and at least 60 condos for sale at any given week. I think as the summer goes on it may still be possible. In some communities such as Palo Alto and Menlo Park there are many empty nestors who would be selling, but do not because their grown children come back to live with them. This is not the case for a Mountain View condo. Many condo owners who would have sold to move up were not able to when prices were below their original purchase price. Appreciation has wiped out that problem, so hopefully we see more condo sellers soon.

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

Palo Alto Ca Real Estate Market Update 5/25/2013

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.

There are currently 27 single family Palo Alto homes for sale down from 39 last week.

There are currently 4 Palo Alto town homes/condos for sale, down from 9 last week.

There are currently 37 pending sales of Palo Alto single family homes, up from 28 last week.

There are currently 15 pending sales of Palo Alto Town homes/Condos, up from 11 last week.

In April of 2013 there were 46 single family Palo Alto homes sold, about 50% more than in March. The prices ranged from $1,050,000 to $10,000,000. No homes under a million is significant.

In April of 2013 there were 9 Palo Alto Town Homes/Condos sold, down 3 from March.  The prices ranged from $785,000 to $1,350,000. This is a high starting price point for condos as well. 

This week the lowest price listing of a single family home is $1,099,000 which is higher that the lowest priced sale in April. Since most homes get multiple offers and sell higher than list price it is reasonable to expect that the lowest priced sale could be over $100,000 higher than the lowest sale  in all of April. In other words, the market is still appreciating.

It is Memorial Week-end so this drop was expected. New listings rarely come on the market on holiday week-ends. The fact that all the pending sales are up mean the market is still quickly absorbing homes that do come on the market.  However, I think that June and July may see weekly homes in the 40's as more sellers seem to coming into the market. 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 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 Does It Cost to Buy A Home in Menlo Park, Ca?

As a Menlo Park Real Estate Agent I am often asked, "How much does it cost to buy a home in Menlo Park? This chart tells the story of single family home sales in 2013 in Menlo Park.

Lots of interesting information here. First of all, nothing in Belle Haven sold under $300,000. That is a milestone. There was a City of Menlo Park sale below market rate house that sold for $295,000 but the lowest price fair market price home was $324,000. The next lowest price was $355,000. The days of buying a home in Menlo Park under $300,000 are long gone.

The next interesting fact is that most of the homes sold in Menlo Park in 2013 were sold between $400,000 and $2,000,000. 72 of the 110 single family Menlo Park homes sold in 2013 were purchased between $400,000 and $2,000,000.

There were 24 homes sold in Menlo Park between two million and three million and 10 homes between 3 and 5 million.

If you look at homes sold only in the Menlo Park or Las Lomitas school districts the chart looks like this:

You can see that the lowest priced home you could buy in Menlo Park with Menlo Park or Menlo Park schools, as opposed to Redwood City or East Palo Alto schools was $850,000. Only 3 homes sold under $1,000,000. 46 homes sold under 2 million dollars and 34 sold over 2 million.

What does this all mean for someone trying to buy a home in Menlo Park?


Here are my thoughts:

1. It's not cheap.

2. Only 80 homes sold in Menlo Park with Menlo Park or Las Lomitas schools compared to 135 that sold with Palo Alto schools. In Palo Alto 3 homes sold under a million, the same as in Menlo Park, and 8 homes sold over 5 million, unlike Menlo Park which had none. While more homes sold in Palo Alto, Menlo Park has a little less competition.

3. The average price per square foot to buy a home in Menlo Park with Menlo Park or Las Lomitas schools is $891,971. In Palo Alto is is $1,141.42. Both cities have average lot size of homes sold at 8,578 in Menlo Park vs 8,962 in Palo Alto so in general homes in Menlo Park are less expensive.

4. The average list price to sale price in Menlo Park is $1,954,749 iist $2,048,101 sold compared to $2,381,202 list and $2,524,777 sold in Palo Alto. This is important information when you are making an offer in Menlo Park. In other words the price you pay over list is a smaller percentage than you have to pay in Palo Alto.


If you are buying a home in Menlo Park you will need to pay over a million dollars and on average about $2,000,000. You will often have to pay over list price, but depending on the list price it is on average only about 5% over list. If you are looking in the 1 to 2 million price range there will be on average 10 homes a month that come on the market.

The stats are nothing for Menlo Park buyers to celebrate, but there is no need to cry either.
If you have any questions about buying or selling a home in Menlo Park please feel free to contact me.

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

Menlo Park Real Estate Market UPdate 5/19/2013

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

Not enough inventory, plenty of buyers.
There are currently 39 single family Menlo Park homes for sale
There are currently 10 Menlo Park town homes/condos for sale.
There are currently 47 pending sales of Palo Alto single family homes.
There are currently 6 pending sales of Palo Alto Town homes/Condos.

In April of 2013 there were 30 single family Menlo Park homes sold.  The prices ranged from $495,000 to $4,275,000. The lowest priced home in Belle Haven being almost $500,0000 is significant and shows that the market is up. If you look at just the Menlo Park homes with Menlo Park schools the lowest price in April was $1,075,000. No homes under a million in this category is also very significant.

In April of 2013 there were 6 Menlo Park Town Homes/Condos sold.   The prices ranged from $390,000 to $1,225,000. This is a high starting price point for condos as well. The lowest price condo that is not senior only housing was $700,000 for a 2 bedroom in Sharon Park.

This week the lowest price listing of a single family home is $1,099,000 which is higher that the lowest priced sale in April. Since most homes get multiple offers and sell higher than list price it is reasonable to expect that the lowest priced sale could be over $100,000 higher than the lowest sale in all of April. In other words, the market is still appreciating.

The inventory of single family homes for sale in Menlo Park is at historically low levels. I am hoping that as the summer progresses we will have more inventory.  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 Menlo Park please feel free to contact me.
Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
D.R.E. 01191194
650-619-9285

Should I Have a Foundation Inspection On A Portola Valley Home?

As a Portola Valley Real Estate Agent I am often asked "should I have an inspection on the foundation of the home I am buying in Portala Valley? The answer is always YES. The home in question may have a property inspection that does not sound alarming and home may even be a new home, but if you are buying a home in Portola Valley the answer is YES.

Portola Valley is a wonderful community with beautiful views, great schools, ample recreational activities, a pleasant shopping area, and a close knit community. The competition for homes to buy is much less than in neighboring Menlo Park or Palo Alto, but it is hilly, and close to the San Andreas Fault. Buying a home in Portola Valley is not cheap, and if you are spending over a million dollars at the bottom end, and up to twenty million on the top end, you should make sure you have as much information as possible.

Buying a home in Portola Valley that is on a hillside is not dangerous, but there are problems that can occur with the soil on the property as well as the foundation itself. A good foundation inspector will be able to tell you if he/she sees active or potential problems and how to mitigate those problems after you buy the Portola Valley home.


Some basic inofrmation you will get is:

1. Is the home bolted to the foundation to prevent problems from lateral sway in an earthquake?
2. Are the cripple walls braced to prevent problems from the height differential in the foundation in an earthquake?
3. Are the piers lined up and properly braced to prevent sinking in an earthquake?
4. Is the drainage directing water away from the home to protect the foundation from water damage?
5. Does the soil around the home appear stable, or does it seem to indicate soil creep?
6. Does the Hillside appear stable or are their signs of active or recent mud slides or land slides?
There are many other things the foundation inspector can discover during an inspection but the 2 most basic question you need answered when buying a home in Portola Valley is "Is there a good chance this home will survive an earthquake and is there a good chance this home will not be subject to a landslide or mudslide?

If the answer to those questions is yes, then you can look forward to a wonderful life after you buy a
home in Portola Valley.

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

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

Santa Clara Ca Real Estate Market Update 5/18/2013

As a Santa Clara Real Estate Agent I am always being asked, "How's the market in Santa Clara?" The answer is simple:
Not enough inventory, plenty of buyers.

There are currently 50 single family Santa Clara homes for sale, up from 46 last week.
There are currently 23 Santa Clara town homes/condos for sale, up from 17 last week.
There are currently 64 pending sales of Santa Clara single family homes, up from 59 last week.
There are currently 46 pending sales of Santa Clara town homes/Condos, up from 40 last week.

In April of 2013 there were 39 single family Santa Clara homes sold, 3 less than the number in March.,  ranging in price from $540,000 to $1,250,000. This shows an increase in price range of 10% for the lowest priced home sold. The highest is the same as March.
In April of 2013 there were 27 Santa Clara Town Homes/Condos sold, only one more than in March.

They ranged in price from $225,000 to $805,000. Again the low end is about 10% higher and the high end about the same. what is more significant is that the lowest priced condo at $225,000 was a short sale so the contract date was many months earlier. The lowest priced traditional sale was $275,000.  The lowest price traditional sale in March was $225,000. This shows over a 20% increase in the low end.
 
These numbers are better in all categories, and up for 2 weeks in a row for single family homes. However, the ratio of pending to active listings should be 1:2 not 2:1 in a healthier market. We just do not have enough listings. Hopefully as more homeowners come out from being underwater (owing more on their home than it is worth) more sellers will be able and willing to sell.
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 Santa Clara please feel free to contact me.

Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
D.R.E. 01191194
650-619-928

Mountain View Ca Real Estate Market Update 5/18/2013

There are currently 26 single family Mountain View homes for sale,  up from 23  last week.

There are currently 22 Mountain View town homes/condos for sale,  up from 15 last week.

There are currently 29 pending sales of Mountain View single family homes,  up from 27 last week.

There are currently 44 pending sales of Mountain View Town homes/Condos, down from from 49 last week.

In April, 2013 there were 18 single family Mountain View homes sold ranging in price from $705,000 to $1,900,000.  The volume was the same and the low end is about the same as Feb and March, but the high end is significantly higher..

In April, 2013  there were 32 Mountain View Town Homes/Condos sold ranging in price from $305,000 to $1,210,000. There were almost twice as many sales in April as in March, which is good, but the lowest price condo sold 10% over the lowest price in March.

The inventory is up a little in single family homes and a good increase in condos for sale, although still not a healthy level of either. I would like to see at least 40 single family homes for sale and at least 60 condos for sale at any given week. I think as the summer goes on it may still be possible. In some communities such as Palo Alto and Menlo Park there are many empty nestors who would be selling, but do not because their grown children come back to live with them. this is not the case for a Mountain View condo. Many condo owners who would have sold to move up were not able to when prices were below their original purchase price. Appreciation has wiped out that problem so hopefully we see more condo sellers soon.

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