Palo Alto, CA

•· Ca Single Family Home Market Update 02-04-2010

•· As of today this is the snapshot of the Palo Alto single family home market:

70 Active listings

33 Pending sales

I have taken a break from my inventory tracking but it is definitely time to get back. So, the inventory in Palo Alto is still low, but the pending sales are down a little also. What is most interesting is the incredible number of offers on a few listings last week. Sycamore and Greer and 12 and 14 offers each. They were both listed under a million and sold over a million. I think that these two sales are backing up my position that the lower end of the Palo Alto market has bottomed, and now may be showing signs of appreciation.

There is also a little more activity in the upper end. There are 18 active listings and 6 pending sales over 2.5 million which is a better ratio than anytime in 2009. I am not ready to say that segment of the market has bottomed, but it is a little better than before.

I will be back next week, I promise!

•· If you are interested in finding the final selling price of any home, anywhere, you can do it on my web site. Go to www.marcymoyer.com and click on Cyberhome Home Valuation. You can then type in any address next to the search icon and get the county records.

If you need anything else please feel free to contact me. I am here to help you.

Marcy Moyer Intero Real Estate

marcy@marcymoyer.com

650-619-9285

www.marcymoyer.com

DRE 01191194

•· Palo Alto Ca Single Family Home Market Update 01-07

•· As of today this is the snapshot of the Palo Alto single family home market:

49 Active listings

32 Pending sales

So, As 2010 begins we have very little inventory, interest rates are not too bad, and housing prices are probably close to 20% lower than at this time last year. So, what is different than in other times where the inventory was this low? I can start by saying what is similar. If a house is price very low it will get multiple offers. There was a house on Bowdoin that listed for $728,000 and got 21 offers. It sold over $900,000. I do not know the final price, but I have a client who offered over 900K and was not the highest offer. The house was probably worth $850-900K but pricing it so low incited a feeding frenzy and it sold higher than what I think it was worth. This is not my idea of how to sell real estate. Call me lazy, but I have no interest in dealing with 20 offers, and it is such a waste of time for so many people. Never the less, it is still true that a home priced way below market value will get many offers. But what about the other homes on the market? This is not 2007, even though the inventory level is similar. Money is not too expensive, but it is not easy to get. Down payment and reserve requirements are high, banks are tight fisted with our bail out money, and appraisers are tight on their appraisals. It is not uncommon to have an appraisal come in 10% less than what experienced realtors think a house is worth. Buyers do not have irrational exuberance and are not jumping at any house that is in their price range and fits some of their needs. They want value for their hard earned, and ever harder to obtain financing. Job security is non existent for many people. I think this will be an active year in Palo Alto real estate, with more homes changing hands, but I do not think that there will be a lot of appreciation. And of course, as I have been saying for months, the over 2.5 million segment has not is bottom yet.

•· If you are interested in finding the final selling price of any home, anywhere, you can do it on my web site. Go to www.marcymoyer.com and click on Cyberhome Home Valuation. You can then type in any address next to the search icon and get the county records.

If you need anything else please feel free to contact me. I am here to help you.

Marcy Moyer Intero Real Estate

marcy@marcymoyer.com

650-619-9285

www.marcymoyer.com

DRE 01191194

•· Palo Alto Ca Single Family Home Market Update 12-11-09

•· As of today this is the snapshot of the Palo Alto single family home market:

67 Active listings

43 Pending sales

It is the end of the year, and as usual the number of active listings decreases as so the pending sales. For this week's breakdown we have 26 active listings and 26 pending sales under 1.5, 24 active listings and 13 pending sales between 1.5 and 2.5 mil, and 18 listings and 5 pending sales over 2.5 million. This pattern has remained steady for the last 6 months.

In looking at sales for the past year several really interesting things have occurred. There have been a total of 369 sales of single family homes in the last year. Of those 12 homes sold over 3 million, but none over 5 million. 54 homes under a million with the lowest price being at $703,000 for 225 Wilton. Both of those facts are important, nothing over 5 million and 53 under a million. The market has changed and no one denies that fact now. Will it stabilize, continue to drop, or go up? No one knows for sure, but my next blog will be what I think and why.

Happy Hanukah!

•· If you are interested in finding the final selling price of any home, anywhere, you can do it on my web site. Go to www.marcymoyer.com and click on Cyberhome Home Valuation. You can then type in any address next to the search icon and get the county records.

If you need anything else please feel free to contact me. I am here to help you.

Marcy Moyer Intero Real Estate

marcy@marcymoyer.com

650-619-9285

www.marcymoyer.com

DRE 01191194