Who is Selling in Palo Alto This Week?
Active listings: 95
Pending Sales: 50
Our ratios are pretty good again with less than 2 homes for sale for every pending sale. I decided to do another post on who is selling. I did this once last year and thought it was pretty interesting.
Here is this week’s breakdown:
Owner occupied: 32
Bank owned: 1
Short sale: 0
Tenant occupied: 9
Probate: 0
Vacant: 29
New: 16
Lot value: 3
Stanford affiliates only: 3
In foreclosure but not there yet and not a short sale: 1
This is just a generalization and each situation is different, but generally owners with vacant properties (especially trust and probate sellers) are more flexible on price than owner occupied sellers, who often do not have to move if they do not get an acceptable offer. Homes with tenants are the hardest to show and often do not look so great so you may be able to get a better deal there. Also, if a home is in foreclosure but not a short sale you will probably have a very motivated seller.
Happy house hunting!
If you're interested, here's the market update analysis I wrote last year, around this time.
If you're interested, here's the market update analysis I wrote last year, around this time.
Marcy Moyer
Keller Williams Realty
650-619-9285
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