Menlo Park Ca Real Estate Market Update 7/21/2013

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 down from 42 last week..
There are currently 7 Menlo Park town homes/condos for sale the down from 8 last week.
There are currently 29 pending sales of Menlo Park single family homes down from 30 last week.
There are currently 7 pending sales of Menlo Park homes/Condos down from 10 last week.

In June of 2013 there were 33 single family Menlo Park homes sold down from 47 in May.  The prices ranged from $540,000 to $4,375,000. The lowest priced home in Belle Haven is up $100,000 from May. I thought we may have been leveling off but this number does not prove it. If you look at just the Menlo Park homes with Menlo Park schools the lowest price in June was $975,000 up a little from May but the only home with Menlo Park schools sold under a million. In June of 2013 there were 10 Menlo Park Town Homes/Condos sold. The prices ranged from $395,000 to $1,800,000.

This is a high starting price point for condos, but not as high as Palo Alto. The lowest price condo that is not senior only housing was $551,00 for a 1 bedroom in Sharon Park which is similar to a one bedroom condo in Palo Alto.

The inventory of single family homes for sale in Menlo Park is still at historically low levels, and unlike Palo Alto, Mountain View and Santa Clara down from last week, again. I am hoping that as the summer progresses we will have more inventory and that this week is not a trend

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 7/20/2013

There are currently 15 single family Mountain View homes for sale,  down from 20  last week.
There are currently 19 Mountain View town homes/condos for sale,  up from 17 last week.
There are currently 28 pending sales of Mountain View single family homes,  up from 24 last week.
There are currently 34 pending sales of Mountain View Town homes/Condos, up from from 31 last week.

In June, 2013 there were 31 single family Mountain View homes sold ranging in price from $765,000 to $1,510,000.  The volume was up 30% from May.  The prices ranged from $770,000 to $2,498,000. this does not include sales in the new development in Waverley Park.
In June, 2013  there were 35 Mountain View Town Homes/Condos sold ranging in price from $351,000 to $1,215,000. These numbers are very similar to May. Are we starting to level off in appreciation? I think so.

The inventory is down this week in single family home listings and up in condos. I would like to see at least 40 single family homes for sale and at least 60 condos for sale at any given week, but that is not happening. One problem with so few single family homes for sale is that there are not as many single family homes in Mountain View as there are condos. With few homes and more buyers it is a difficult market for buyers.  I think as the summer goes on it may still be possible to get a healthier number on the market, but the structural problem of not enough single family homes is not going to be solved this summer. In some communities such as Palo Alto and Menlo Park there are many empty nesters 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 7/20/2013

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 35 single family Palo Alto homes for sale, down from 40 last week.
There are currently 9 Palo Alto town homes/condos for sale, up from 7 last week.
There are currently 42 pending sales of Palo Alto single family homes, up from 32 last week.
There are currently 7 pending sales of Palo Alto Town homes/Condos, down from 7 last week.

In June of 2013 there were 29 single family Palo Alto homes sold, a big drop from April and May sales. The prices ranged from $1,141,400 to $5,750,000. No homes under a million is significant.

This is getting to be a common occurance in Palo Alto.
In June of 2013 there were 15 Palo Alto Town Homes/Condos sold, a nice increase from earlier in the spring. The prices ranged from $535,000 to $1,521,000. This is not a high starting price point for condos in Palo Alto, but it was ony one bedroom.

We had decrease in single family homes for sale, but an increase in condos. We were in the 40 home range for a few weeks and I hope we get back there again this week. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation. 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

San Jose Ca. Sellers, How to Price Your Home This Summer?

Are you going to sell your home in San Jose this summer or fall? Are you wondering how to price your home? Have you been getting conflicting advice about the market in San Jose? Are you confused about the San Jose real estate market?

It is not surprising if you are confused about the best strategy to price your home to get the best price in the fastest time. The market is going through a change. Inventory is up a little, although not anywhere near buyer's market range. The big issue could be the rising interest rates. For homes under a million dollars the increase in interest rates does make homes less affordable for those buyers who are buying at or near the maximum they can afford. On top of that is a decrease in investors who will want to buy the San Jose home you are selling. Price have appreciated so much that many investors no longer see a good return on their dollar and are looking elsewhere for a place to buy rental properties

I am not trying to imply that this is a bad time to try to sell your San Jose home, because it is not, It is just a slightly different market than last spring, and as such you need to take this small shift in account when deciding on a strategy to sell your San Jose home.


Here are the recommendations I give my San Jose sellers when they ask me what price they should list their San Jose home for:

1. Look at the most recent closed sales in the immediate neighborhood and the condition of the homes at that price as well as the lot size and location.

2. Adjust for things like remodeling, noise, structural issues, lot size, and square footage.

3. After adding and subtracting for the differences take an average of at least 3 comps.

4. List just slightly below the average, maybe 1-2%


In this market I would not suggest listing very low in order to generate multiple offers as it may not happen.  I would also not suggest to list high to see if someone will pay. I believe if you list close to market you will sell your home in San Jose for the best price in the fastest time period.

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

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

Santa Clara County Real Estate Market Update 7/14/2013

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 46 single family Santa Clara homes for sale, down from 49 before the July 4th Holiday.
There are currently 34 Santa Clara town homes/condos for sale, up from 30 before the July 4th Holiday.
There are currently 59 pending sales of Santa Clara single family homes, down from 69 last week.
There are currently 51 pending sales of Santa Clara town homes/Condos, down from 54 last week.

In June of 2013 there were 61 single family Santa Clara homes sold, up from 47 in May, ranging in price from $420,000 to $1,240,000. This shows a decrease in price range of 10% for the lowest priced home sold in May, but it was a short sale that took a long time to close so the market at time of sale was lower. The lowest price traditional sale was $550,000 which is $100,000 higher than the lowest price in May.

In June of 2013 there were 33 Santa Clara Town Homes/Condos sold, the same as in May.  They ranged in price from $230,000 to $790,000. This is 20% lower than the lowest price in May and 5% lower than the highest price in May. Has the appreciation started to slow down? I think so.
Santa Clara single family home listings are not up from before the holiday.  Condos are up 10% from before the holiday.  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 Real Estate Market Update 7/14/2013

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 42 single family Menlo Park homes for sale down from 43 before the July 4th Holiday.
There are currently 8 Menlo Park town homes/condos for sale the down from 9 before the July 4th Holiday.
There are currently 30 pending sales of Menlo Park single family homes down from 35 before the July 4th Holiday
There are currently 10 pending sales of Menlo Park homes/Condos down from 11 before the July 4th Holiday.

In June of 2013 there were 33 single family Menlo Park homes sold down from 47 in May.  The prices ranged from $540,000 to $4,375,000. The lowest priced home in Belle Haven is up $100,000 from May. I thought we may have been leveling off but this number does not prove it. If you look at just the Menlo Park homes with Menlo Park schools the lowest price in June was $975,000 up a little form May but the only home with Menlo Park schools sold under a million. In June of 2013 there were 10 Menlo Park Town Homes/Condos sold.   The prices ranged from $395,000 to $1,800,000. This is a high starting price point for condos, but not as high as Palo Alto. The lowest price condo that is not senior only housing was $551,00 for a 1 bedroom in Sharon Park which is similar to a one bedroom condo in Palo Alto.

The inventory of single family homes for sale in Menlo Park is still at historically low levels, and unlike Palo Alto, Mountain View and Santa Clara down from last week. I am hoping that as the summer progresses we will have more inventory and that this week is not a trend.  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 Market Update 7/14/2013

There are currently 20 single family Mountain View homes for sale,  down from 21  before the July 4th Holiday.
There are currently 17 Mountain View town homes/condos for sale,  up from 12 before the July 4th Holiday.
There are currently 24 pending sales of Mountain View single family homes,  down from 35 before the 4th of July Holiday.
There are currently 31 pending sales of Mountain View Town homes/Condos, down from from 37 before the 4th of July Holiday.

In June, 2013 there were 31 single family Mountain View homes sold ranging in price from $765,000 to $1,510,000.  The volume was up 30% from May.  The prices ranged from $770,000 to $2,498,000. this does not include sales in the new development in Waverley Park.
In June, 2013  there were 35 Mountain View Town Homes/Condos sold ranging in price from $351,000 to $1,215,000. These numbers are very similar to May. Are we starting to level off in appreciation? I think so.

The inventory is stable this week in single family home listings and up from the holiday in condos. I would like to see at least 40 single family homes for sale and at least 60 condos for sale at any given week, but that is not happening. One problem with so few single family homes for sale is that there are not as many single family homes in Mountain View as there are condos. With few homes and more buyers it is a difficult market for buyers.  I think as the summer goes on it may still be possible to get a healthier number on the market, but the structural problem of not enough single family homes is not going to be solved this summer. 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 7/14/2013

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 40 single family Palo Alto homes for sale down from 42 before the 4th of July holiday.
There are currently 7 Palo Alto town homes/condos for sale, the same as before the 4th of July holiday.
There are currently 32 pending sales of Palo Alto single family homes, up from 29 before the 4th of July holiday.
There are currently 7 pending sales of Palo Alto Town homes/Condos, up from 6 before the 4th of July holiday

In June of 2013 there were 29 single family Palo Alto homes sold, a big drop from April and May sales. The prices ranged from $1,141,400 to $5,750,000. No homes under a million is significant.

This is getting to be a common occurance in Palo Alto.
In June of 2013 there were 15 Palo Alto Town Homes/Condos sold, a nice increase from earlier in the spring. The prices ranged from $535,000 to $1,521,000. This is not a high starting price point for condos in Palo Alto, but it was ony one bedroom.

We had a nice little increase in inventory this week after a drop down to 24 during the July 4th holiday. I believe this trend will continue as more sellers seem to coming into the market. Now 40 homes for sale is still a strong seller's market, but it is not a ridiculous seller's market. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market.   As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation. 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

San Jose For Sale By Owner A Lot Can Go Wrong

The real estate market in San Jose is hot! Homes are "flying off the shelf." As the owner of a San Jose home you may think it is such a strong seller's market why should I pay so many thousands of dollars to a San Jose real estate agent when I can find the buyer myself.

Well, I can tell you a story about just one of the things that can happen when a San Jose home owner decides to try to do it herself. These are not all the things that can possibly go wrong, just what happened to one poor San Jose for sale by owner seller.

So Ms For Sale by Owner from Blossom Valley in San Jose inherited a home from her mother a few months ago. Mom was ill at the end of her life and dies with no money, just a home with a mortgage. The mortgage was 6 months past due when Ms For Sale By Owner decided she would try to preserve what equity was left so she decided to try to sell the house herself.

Ms For Sale by Owner put the home on Zillow and found a buyer. After Ms For Sale By Owner agreed to the price and terms with the Mr Buyer with No Agent a friend of Ms For Sale By Owner who works at a law firm advised her to call me to handle the paper work. Now this is not something I normally do, but I agreed since it was a referral from a law firm that I work with a lot. I agreed to write up the contract and provide the disclosures for the seller, but not to represent the buyer.

So I wrote up a contract which gave the Mr Buyer Without an Agent 17 days to do any additional inspections he desired, 17 days for his loan approval, and a very clear addendum saying I was not his agent. I explained nothing to him.
At the end of 17 days I gave Mr Buyer Without an Agent a contingency removal to sign which he did.

A week later when I asked his lender when the loan docs would be drawn I was told that Mr Buyer Without An Agent had to sell his mobile home to get the down payment to buy Ms For Sale By Owner's Blossom Valley house. The first buyer backed out but he had an all cash back up buyer so we were just waiting for the mobile home park to approve the buyer for the open house. Guess what, that buyer backs out also.

So Ms For Sale By Owner has to cancel the contract with Mr Buyer Without An Agent. Mr Buyer Without An Agent had breached his contract. The contract was never written with a contingency on the sale of another property. Mr Buyer without an Agent signed a contingencies removal removing all contingencies. If he had an agent he would not have done that. He may lose his deposit now.

Ms For Sale By Owner has now lost 6 weeks of time that the mortgage is past due and not paid off. The bank has been patient, but there is nothing from stopping the bank from recording a Notice of Default which will cost her even more money.

Ms For Sale By Owner has learned her lesson. We are signing a new listing agreement and the new buyer will have an agent or their offer will not be accepted.

So in this case, no one won by trying to do a "for sale by owner" in San Jose. This is just one example on how trying to save some money can make you lose more than you thought you could save. In other words, friends don't let friends buy or sell houses without a good agent.

If you are looking for a good real estate agent in the Silicon Valley please feel free to contact me.

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

San Mateo County Probate Sale

If you are a Personal Representative for a San Mateo County Probate sale which do you think is riskier for you, not the buyer, taking an offer with a loan contingency, or taking an offer for your San Mateo County Probate 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.
3. You have done all of the inspections on your San Mateo County Probate 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 San Mateo County Probate 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 San Mateo County 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 San Mateo County Probate 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 San Mateo county Probate home for sale. Additionally since disclosures are limited in a probate sale in order for the buyer to make a non contingent offer they must do all their investigation up front. If it is done after the offer is made you could run into trouble.

I believe if you have to choose between an offer for the San Mateo County Probate 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 Probate home in San Mateo County 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 County Short Sale Update 2013

If you are looking for a short sale home in Santa Clara County don't hold your breath. The number of short sales in Santa Clara County have plummeted in 2013. Here are the numbers:
Short Sale Single Family Homes:
Active listings: 25
Pending sales: 394
Closed Escrow in 2013  436
Total single family homes in Santa Clara County
Active listings: 1215
Pending Sales: 1665
Closed escrows in 2012:  4982
 The percentage of single family homes that are short sales are:
Active listings: 2 Percent
Pending Sales: 23 Percent
Closed Sales: 8.7 Percent

Short Sale Condos/Townhomes
Active listings: 13
Pending sales: 161
Closed sales in 2013: 242

Total Townhome Sales in 2013
Active listings: 384
Pending Sales: 673
Closed Sales 2013

Percentage of townhomes that are short sales
Active listings 3.4%
Pending sales: 24%
Closed sales in 2013: 12%

Total Sold Short Sales in 2013: 678
Total Sold Short Sales in the last 6 months of 2012: 1871

What do these numbers tell us? Short sales are down, by a lot. There are less than half the number of short sale homes sold in the first six months of 2013 compared to the second six months of 2012. Additionally there are fewer active and pending listings by percentage compared to closed sales in 2013. This leads me to believe there will be even fewer closed sales in the second half of 2013.

Prices have increased dramatically in Santa Clara County. In many cities we are back to values seen at the peak in early 2008. With these higher values owners can sell if they can not afford the payments, or take advantage of the historically low interest rates and refinance. Short sales are no longer needed for most home owners.

So if you are looking for a bargain in Santa Clara County it is probably a good idea to look for homes other than short sales. It is unlikely this decrease in short sale homes in Santa Clara County is going to change in the near future.

If you have any questions about short sales or any other type of sale in Santa Clara County please feel free to contact me.

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

Santa Clara County Foreclosure Update 2013

If you are looking for a bank owned home in Santa Clara County don't hold your breath. The number of foreclosures in Santa Clara County have plummeted in 2013. Here are the numbers:

Bank Owned Single Family Homes:

Active listings: 13

Pending sales: 18

Closed Escrow in 2013  163

Total single family homes in Santa Clara County

Active listings: 1215

Pending Sales: 1665

Closed escrows in 2012:  4982

 The percentage of single family homes that are foreclosures are:

Active listings: 1 Percent

Pending Sales: 1 Percent

Closed Sales: 3 Percent

Bank Owned Condos/Townhomes

Active listings: 10

Pending sales: 16

Closed sales in 2013: 2026

Total Townhome Sales in 2013

Active listings: 384

Pending Sales: 673

Closed Sales 2013

Percentage of townhomes that are foreclosures

Active listings 2.6%

Pending sales: 2.4%

Closed sales in 2013: 3.3%

Total Sold Foreclosures in 2013: 231

Total Sold foreclosures in the last 6 months of 2012: 579

What do these numbers tell us? Foreclosures are down, by a lot. There are less than half the number of bank owned homes sold in the first six months of 2013 compared to the second six months of 2012. Additionally there are fewer active and pending listings by percentage compared to closed sales in 2013. This leads me to believe there will be even fewer closed sales in the second half of 2013.

There are many reasons for the decreased in foreclosures in 2013. Many of the large banks had settlements with the governent in which they agreed to work on loan modifications and principal reductions instead of foreclosures. Also short sales have been getting approved a lot more than previously rather than being foreclosed.

There is chatter in the foreclosure world that now that the banks have fulfilled their obligations they will begin foreclosing again. While this may be true in some markets, I do not believe it will happen in Santa Clara County. Prices have increased dramatically in Santa Clara County. In many cities we are back to values seen at the peak in early 2008. With these higher values owners can sell if they can not afford the payments, or take advantage of the historically low interest rates and refinance.

So if you are looking for a bargain in Santa Clara County it is probably a good idea to look for homes other than foreclosures. It is unlikely this decrease in bank owned homes in Santa Clara County is going to change in the near future.

If you have any questions about foreclosures or any other type of sale in Santa Clara County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

maryc@marcymoyer.com

D.R.E. 01191194

650-619-9285

Menlo Park Ca Real Estate Market Update 6/23/2013

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 9 Menlo Park town homes/condos for sale the down from 11 last week.

There are currently 35 pending sales of Menlo Park single family homes the same as last week.

There are currently 11 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, and unlike Palo Alto, Mountain View and Santa Clara down from last week. I am hoping that as the summer progresses we will have more inventory and that this week is not a trentd.  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 Real Estate Market Update 6/23/2013

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 49 single family Santa Clara homes for sale, up from 48 last week.

There are currently 30 Santa Clara town homes/condos for sale, down from 33 last week.

There are currently 69 pending sales of Santa Clara single family homes, up from 66 last week.

There are currently 54 pending sales of Santa Clara town homes/Condos, up from 46 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 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 are up from last week, but only by one. However that is up for 3 weeks in a row which is great news. Condos are down 10% 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 June 23, 2013

There are currently 21 single family Mountain View homes for sale,  up from 23  last week.

There are currently 12 Mountain View town homes/condos for sale,  the same as last week.

There are currently 35 pending sales of Mountain View single family homes,  up from 31 last week.

There are currently 37 pending sales of Mountain View Town homes/Condos, down from from 36 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 single family home listings and unchanged from last week in condos. I would like to see at least 40 single family homes for sale and at least 60 condos for sale at any given week, but that is not happening. One problem with so few single family homes for sale is that there are not as many single family homes in Mountain View as there are condos. With few homes and more buyers it is a difficult market for buyers.  I think as the summer goes on it may still be possible to get a healthier number on the market, but the structural problem of not enough single family homes is not going to be solved this summer. 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 June 23, 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 42 single family Palo Alto homes for sale up from 38 last week.

There are currently 7 Palo Alto town homes/condos for sale, the same as last week.

There are currently 29 pending sales of Palo Alto single family homes, up from 26 last week.

There are currently 6 pending sales of Palo Alto Town homes/Condos, down 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. 

We had a nice little increase in inventory this week with an increase in pending sales as well. I believe this trend will continue and we finally hit 42 single family homes for sale as more sellers seem to coming into the market. Now 42 homes for sale is still a strong seller's market, but it is not a ridiculous seller's market. Anything between 40 and 60 is typical seller's market for Palo Alto and over 90 is a buyer's market. I am concerned that as we come on to 4th of July week-end the number of active listings will drop again, but hopefully will pick up after Jully 7th.  As you can see, the chances of a buyer's market in the near future look slim, but if we could just have enough inventory that all the serious buyers could eventually win a bid I would be happy and seller's would still reap their appreciation.

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

Palo Alto Ca Junior Museum and Zoo: A Palo Alto Treasure

Palo Alto is home is so many activities for children is an embarrassment of riches. One of my favorite spots for children has always been the Palo Alto Junior Museum and Zoo. I spent many happy hours there when my children were young talking to the goose and learning about raccoon in Palo Alto.

The Palo Alto Junior Museum and Zoo is located off Middlefield Road next to Walter Hays Elementary. It is in the Palo Alto Community Center complex which also includes Rinconada Park, Palo Alto Children's Library, and the Lucy Stern Community Center.

The Museum and Zoo is home to 50 species of local wild life including owls, snakes, fruit bats raccoons, geese, ducks, bobcats, and various other small animals that can be on display. There are rotating exhibits that explain science to children in ways they can experience and understand.

Some of the exhibits are Bobcat Ridge, a natural habitat for the two resident bobcats Rufus and Tule. Next to bobcat Ridge is the Kitten's Den which is a naturally landscaped sculpture garden. The African Bat Cave gives children the opportunity to explore a rain forest and watch fruit bats in their natural habitat. Raccoon Creek is a place where children can get up close and personal with the two resident raccoons Loki and Aigon. Tortoise Hill is where the African spurred tortoise Edward lives. He often goes on walks around the zoo with his keeper and the many children who visit.

The Palo Alto Museum and Zoo holds classes in the winter and runs camps in the summer.

This is no ordinary zoo or ordinary museum. It is a place where the children of Palo Alto can learn about science and nature in a real world environment, and on a scale appropriate to even the youngest children. 

The Palo Alto Museum and Zoo is closed Mondays and open from 10-5 Tues thru Sat and 1-4 on Sunday. Admission is free 

but donations are gladly accepted!

The Palo Alto Junior Museum and Zoo is just one of the reasons that Palo Alto is such an ideal place to live.

If you are interested in looking for homes for sale in Palo Alto or surrounding areas just click here.

If you have nay questions about living 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