Silicon Valley Real Estate

Palo Alto Market Update, Single Family Homes: November 3rd

marcyhome@gmail.com (Silicon Valley Real Estate) — Wed, 04 Nov 2009 19:00:00 +0000

Here is today's snapshot of the Palo Alto market for single family homes:

86 Active listings

56 Pending sales

So, active listings continue to decrease. Pending sales are also down a little, but not as much as active listings have decreased.

Here are the interesting numbers for this week:

Under 2 million: Active 59 Pending 45 a great ratio!

Over 2 million 27 active and 11 pending which on the face is not bad but there is more:

Over 2.6 million: 20 active listings and ZERO pending sales. This will probably change in the next week, but the pattern of the upper end of the market being slow has not changed.

2 million t 2.6 million: 7 active listings 11 pending sales This is a very healthy segment right now.

My prediction for the upper end market is still the same as last week. I think that we are going to start to see some short sales if the seller’s have overleveraged their homes and need to sell. Banks are starting to streamline the short sale process and the credit hit is not nearly as severe as a foreclosure. Added to that is the fact that the debt relief is not taxed by the feds leads me to believe that we will not see a wave of foreclosures in Palo Alto, but maybe a trickle of short sales if the employment picture does not pick up or if a homeowner needs to leave the area.

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

A Better Way to Do a Short Sale

marcyhome@gmail.com (Silicon Valley Real Estate) — Tue, 03 Nov 2009 19:36:00 +0000

In the past few years short sales have been long, frustrating, and undependable. The sellers had to prove they were desperate and often had to stop making payments in order to qualify for a short sale. The listing agent had to spend hours trying to figure out who was able to make the decision and whether or not the documents were even received. They buyer’s agent had to wait endlessly for an answer while his or her buyer threatened every day to bail. The closing statistics for short sales have been estimated at 10-30%. Many people felt why bother?

So why should you bother? For some reason banks are getting on board with the idea that allowing a seller to do a short sale is a better deal for them than foreclosure. In general banks get 45 cents on the dollar for a foreclosed home and 75 cents on the dollar for a short sale. It has taken a long time for the banks to get on board with short sale approvals, but short sales are now getting approved and some banks have started trying to make the process more efficient.

Bank of America, who has taken over Countrywide, is now using a platform called REOtrans for their short sales. This platform started as a method for asset managers to process bank owned properties with realtors and is a very effective method for all parties, as they can see in real time where the file is and what else needs to be done. As anyone knows who has dealt with a Bank of America or Countrywide short sale, it can take a month after an agent faxes the short sale package to the bank for the bank to upload it onto their system. Now it is uploaded directly on the site and everyone knows it is there. Everyone will always know where they are in the process so no more allocating 3 hours a week for follow up per file.

Wachovia wins the prize for the best short sale system. Twenty five percent of Wachovia loans are 60 days or more past due, so they have decided to encourage more short sales. They have a system that will get the sale approved and closed in 45 days or less, and do not care if the seller has hardship, or just made the decision that they would rather give up a home than pay for a home for 10-20 years before they are no longer underwater. Underwater means that more is owned on the home than the home is worth. Some estimates put the number of underwater homes in this country as high as 50%. Given those stats Wachovia has made a decision that if someone wants to sell short they will facilitate it. This is not to say they will just give a home away, but if a home has $700,000 of loans on it, and it is now worth $500,000, Wachovia will let someone buy it for close to $500,000 and forgive the other $200,000 debt, and do it in a reasonable amount of time. Plus, they will even give the seller up to $5000 for moving expenses.

Wachovia bought World Savings so this applies to World Savings loans as well. Wachovia was acquired by Wells Fargo but as of now Wells is not doing the same thing with short sales. Hopefully this program with Wachovia will work well and spread to not only Wells Fargo, but to other banks as well.

If you have any questions about short sales, or other real estate related questions please feel free to contact me.

Marcy Moyer

Intero Real Estate Services

marcy@marcymoyer.com

650-619-9285

www.marcymoyer.com

D.R.E. 01191194

Steve Papapietro's Mortgage Bulletin: For the Week of Nov 2nd

marcyhome@gmail.com (Silicon Valley Real Estate) — Tue, 03 Nov 2009 19:00:00 +0000

LAST WEEK IN REVIEW

"Don't believe the hype!" The words from Public Enemy's hit song title rang true once again last week when the Commerce Department reported the Gross Domestic Product (GDP) for the 3rd Quarter. As you can see from the chart below, GDP rose by 3.5% for the first gain in a year and the strongest reading in two years.

While most media outlets were giddy about the news and started the hype that the recession is behind us, it's important to remember that there's more to the economic data than just the headlines.

The temporary "Cash for Clunkers" program has now expired, but was a big part of last quarter's GDP gain. If we remove it from the total, the reading would have been a more modest 1.9%. But there is even more to the rise in the latest GDP number that is just temporary...

Also bolstering the economy has been the $8,000 first-time homebuyer tax credit - which is set to expire at the end of this month. Many home buyers have been taking advantage of this program - and wisely so.

-----------------------
Chart: US Gross Domestic Product (By Quarter)

New Home Sales were reported last week, showing a 7.5-month supply of inventory. While that number is slightly worse than last month's 7.3 reading, it's still a big improvement from where we were in January. Back in January, inventory levels reached a high of 12.4-month supply! The improvement in housing inventories has been due in large part to the $8,000 First Time Homebuyer Tax Credit, which is set to expire on November 30.

There is a real possibility of an extension of this program through a proposed Bill, but it is not yet a certainty. The extension Bill still must be reconciled between the House and Senate, and then voted on for final approval. Under the current extension proposal, sales with signed purchase agreements by April 30th that close before June 30^th, 2010 would qualify for the credit.

Another positive element would be the possible addition of $6,500 tax credit for other primary home purchasers, meaning the tax credit would no longer be limited only to first-time homebuyers. There is also a possibility that qualifying income limits could increase from $75,000 to $125,000 for singles, and from $150,000 to $250,000 for joint tax filers.

I will be keeping an eye on this for you, so stay tuned.

After all last week's news and movement in the markets, Bonds and rates ended the week slightly better than where they began.

DON'T FORGET: THIS WEEKEND MARKS THE END OF DAYLIGHT SAVING TIME. SO MAKE SURE YOU SET YOUR CLOCKS BACK TO AVOID UNEXPECTED PROBLEMS...LIKE THE KIND DESCRIBED IN THE MORTGAGE MARKET GUIDE VIEW ARTICLE BELOW!

FORECAST FOR THE WEEK

This week brings us new employment numbers...and a chance to see if the labor market is showing signs of recovery. The employment news begins Wednesday with the ADP National Employment Report. Sandwiched between that report and Friday's Jobs Report, is the Initial Jobless Claims report on Thursday.

The big news comes on Friday, when the all-important Jobs Report will be released. Last month's report underscored the struggling labor market, as the Labor Department reported 263,000 jobs lost in September and an increase in the unemployment rate to 9.8%. The report due out this week is expected to show 166,000 jobs lost in October, which would be significantly better than the previous month if it happens. However, the Unemployment Rate is expected to continue its climb to 9.9%.

In addition to employment news, we'll also see the ISM Index on Monday. This is the king of all manufacturing indices and is considered the single best snapshot of the factory sector.

Finally, the Federal Open Market Committee (FOMC) holds its two-day meeting this week, with an announcement of the Fed Rate Decision and Policy Statement due on Wednesday at 2:15 p.m. (ET).

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. As you can see in the chart below, Mortgage Bonds were able to bounce back last week with help from weakness in the Stock markets.

Chart: Fannie Mae 4.5%% Mortgage Bond (Friday Oct 30, 2009)

THE MORTGAGE MARKET VIEW

Turning Back the Hands of Time

This weekend, the sun set on another season of Daylight Saving Time. The extra daylight we now enjoy was actually the result of the Energy Policy Act, which was enacted by Congress back in 2005. But did you know that throughout its long history, Daylight Saving Time has had a remarkable and sometimes unexpected impact?

A man was actually able to avoid the draft for the Vietnam War using a Daylight Saving Time loophole. When he was born, it was just after midnight, DST. When he was drafted, he successfully argued that in his home state of Delaware, standard time - not DST - was the official time for recording births. So he was technically born on the previous date--which had a much higher draft lottery number - and he was able to avoid being drafted.

In September 1999, the West Bank was on Daylight Saving Time, while Israel had switched back to standard time. A group of West Bank terrorists prepared some timed bombs - but misunderstood the time change - and the bombs exploded early, killing the terrorists themselves, rather than the intended victims - two busloads of innocent citizens.

In the 1950s and 60s, each state and locality was permitted to choose start and end DST dates as they desired. During 1965, Minneapolis and St. Paul - which are considered one metropolitan area - didn't agree on start dates, and for a period of time, these Twin Cities had a one hour time change between them. And on one Ohio to Virginia bus route, passengers technically had to change their watches seven times in 35 miles!

To keep to their published timetables, Amtrak trains cannot leave a station before the scheduled time. So when the clocks "fall back" in the fall, all trains that are running on time actually stop at 2 am - the official time of DST change - and wait one hour before resuming their routes. In the spring, the routes instantaneously become one hour behind schedule, but they just keep going and do their best to make up the time.

So Daylight Saving Time sure can have some unexpected impact.

As we enter the first week of Daylight Saving Time, be sure to double-check all of your electronic devices and confirm that the time is correct. Although you may be accustomed to your computer and maybe even your digital clock in your car automatically updating, the recent change of dates for Daylight Saving Time may require that these devices be manually changed, as they now may NOT be ready to update to the correct time on the correct date!

THE WEEK'S ECONOMIC INDICATOR CALENDAR

Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.

Economic Calendar for the Week of November 02 - November 06

Date	ET	Economic Report	For	Estimate	Actual	Prior	Impact
Mon. November 02	10:00	ISM Index	Oct	53.0		52.6	HIGH
Mon. November 02	10:00	Pending Home Sales	Sept	0.4%		6.4%	Moderate
Wed. November 04	10:30	Crude Inventories	10/30	NA		0.78M	Moderate
Wed. November 04	08:15	ADP National Employment Report	Oct	-190K		-254K	HIGH
Wed. November 04	02:15	FOMC Meeting	11/4	unch		.25%	HIGH
Wed. November 04	10:00	ISM Services Index	Oct	51.5		50.9	Moderate
Thu. November 05	08:30	Productivity	Q3	5.8%		6.6%	Moderate
Thu. November 05	08:30	Jobless Claims (Initial)	10/31	520K		530K	Moderate
Fri. November 06	08:30	Average Work Week	Oct	33.1		33.0	HIGH
Fri. November 06	08:30	Hourly Earnings	Oct	0.1%		0.1%	HIGH
Fri. November 06	08:30	Non-farm Payrolls	Oct	-175K		-263K	HIGH
Fri. November 06	08:30	Unemployment Rate	Oct	9.9%		9.8%	HIGH

The material contained in this newsletter is provided by a third party to real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is not without errors.

As your trusted advisor, I am sending you the MetLife newsletter because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.

In the unlikely event that you no longer wish to receive these valuable market updates, please USE THIS LINK or email: spapapietro@metlife.com

If you prefer to send your removal request by mail the address is:
Steve Papapietro
4300 El Camino Real
Suite 100
Los Altos, CA 94022

Mortgage Success Source, LLC is the copyright owner or licensee of the content and/or information in this email, unless otherwise indicated. Mortgage Success Source, LLC does not grant to you a license to any content, features or materials in this email. You may not distribute, download, or save a copy of any of the content or screens except as otherwise provided in our Terms and Conditions of Membership, for any purpose.

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Palo Alto Market Update, Single Family Homes: October 25th

marcyhome@gmail.com (Silicon Valley Real Estate) — Tue, 27 Oct 2009 19:26:00 +0000

Here's today's snapshot of the Palo Alto single family home market:

93 Active listings

61 Pending sales

What does this mean? Inventory has decreased again, down to a more favorable number for sellers, especially in the under 1.5 mil range, and pending sales are up. To me the big news is that between Sept. 1, 2009 and Oct 10, 2009 there were 43 single family home sales on MLS. Of these, three homes sold over $2,000,000 and 40 sold under $2,000,000. That is not good news for sellers in the over 2 million market. That segment has a long way to go before we see any real recovery. However, as of today there are 8 pending sales between $2,089,000 and $2,198,000 which is good for that segment. There are still only 4 pending sales over 2.2 and the 49 remaining pending sales are all under 2 million. My prediction for the upper end market is that we are going to start to see some short sales if the sellers have overleveraged their homes and need to sell. Banks are starting to streamline the short sale process and the credit hit is not nearly as severe as a foreclosure. Added to that is the fact that the debt relief is not taxed by the feds leads me to believe that we will not see a wave of foreclosures in Palo Alto, but maybe a trickle of short sales if the employment picture does not pick up or if a homeowner needs to leave the area.

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 Market Update, Single Family Homes: October 13th

marcyhome@gmail.com (Silicon Valley Real Estate) — Tue, 13 Oct 2009 18:41:00 +0000

Here is today's snapshot of Palo Alto's single family home market:

102 Active listings

55 Pending sales

What does this mean? After a big increase in inventory after Labor Day the inventory has decreased again down to a more favorable number for sellers, especially in the under 1.5 mil range. To me the big news is that between Sept. 1, 2009 and Oct 10, 2009 there were 43 single family home sales on MLS. Of these three homes sold over $2,000,000 and 40 sold under $2,000,000. That is not good news for sellers in the over 2 million market. That segment has a long way to go before we see any real recovery.

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 Market Update, September 29th: Single Family Homes

marcyhome@gmail.com (Silicon Valley Real Estate) — Wed, 30 Sep 2009 00:05:00 +0000

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

107 Active listings

51 Pending sales

What does this mean? After a big increase in inventory after Labor Day the inventory has decreased by 10 and the pending sales have increased by 8. This is not because of long escrows because the average length of escrow in the last 3 months is 29 days. This is because there are so few short sales and bank owned properties in Palo Alto. These sales are the ones that take so long to close. The middle section of the market, homes listed between $900,000 and $1,500,000 are the ones with the most activity and offers. In this segment there are 40 active listings and 29 pending sales which is a great ratio. Interest rates are still low and there are certainly buyers out there wanting to living in Palo Alto, and now that prices have dropped 20% the market seems to be picking up.

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

Steve Papapietro's Mortgage Bulletin

marcyhome@gmail.com (Silicon Valley Real Estate) — Wed, 30 Sep 2009 00:01:00 +0000

For the Week of Sept 28th, 2009

LAST WEEK IN REVIEW

"BE WILLING TO MAKE DECISIONS." General George Patton. And that's exactly what the Fed did last week at their regularly scheduled Federal Open Market Committee meeting. But just what did they decide...and what do their decisions mean for home loan rates?

The Fed said they are going to ration out the remaining commitment of Mortgage Backed Security purchases through the first quarter of 2010. There will be no additional buying, but instead, a longer weaning off of the program. There was some speculation about the Fed increasing the amount of buying above the $1.25T committed to, and last week's statement is the Fed's nice way of saying "no." They will not be buying more in quantity, but what they will do is attempt to provide a smoother transition to normal market conditions.

It is a given that once the Fed ceases its purchases, that interest rates will climb significantly higher...most likely back above the 6% area. So instead of a hard transition with a large bump in rates, the Fed is attempting to allow rates to gradually rise.This means that waiting to purchase or refinance will very likely mean a higher interest rate.

Their decision also means that the Fed's remaining purchases will all be lower in quantity, as the remaining allotment for purchases will be spread over a longer period of time - and additionally, will not necessarily be spread out as evenly as their past purchases - which could lead to more volatility for rates in the near term.

In other news, Existing Home Sales and New Home Sales were reported slightly less than expected, but both reports continue to show signs of an improving housing market. The inventory of unsold existing homes fell to its lowest inventory level since April 2007, while the inventory of unsold new homes dropped to its lowest level since January 2007. While some of the decline in new home inventory may be due to builders constructing fewer homes - these reports indicate that the housing market is indeed showing signs of life.

Remember, with home loan rates still low - but slated to increase with the Fed's recent decision - as well as a juicy tax credit for First Time Home Buyers that is going to expire on November 30th, it makes sense to get off the fence if you've been considering a purchase or refinance. Or do you have a family member, neighbor, friend or coworker who might benefit from getting some good home loan advice? I'm always glad to get your referrals, so simply let me know who I might be able to help.

Also in the news, Durable Goods Orders for August unexpectedly fell 2.4% for the largest decline since January. The weaker than expected economic data helped fuel a rally in the Bond market and a late week improvement in home loan rates...while on the other hand, Stocks struggled, particularly with the increasing concerns of Iran's construction of nuclear sites. This kind of geopolitical unrest is troubling on many fronts, and if the situation continues to escalate, it could have a big impact on both the Stock and Bond markets.

FORECAST FOR THE WEEK

There are several important economic reports in store for this week, the biggest likely being Friday's Jobs Report for September. The Jobs Report for August showed a troublesome 216,000 jobs lost for the month, with prior months revised to show an additional 50,000 jobs lost. In addition, the last report showed that the Unemployment Rate for August jumped to the highest level in 26 years, at 9.7% from July's 9.4%. This is more than double the rate of unemployment from just two years ago and significantly higher than the 5.9% average during the past 40 years. The Unemployment Rate portion of the Jobs Report is often seen as more reliable than the job loss numbers since it is an actual survey, where about 60,000 households are contacted - so this is a particularly important element of the report, as we watch to see signs of an improving economy.

Also this week, we have a read on Consumer Confidence coming on Tuesday, while Thursday brings the Fed's favorite gauge of inflation, the Core Personal Consumption Expenditure (PCE) Index, found within the Personal Income Report. Thursday will also bring another weekly Initial Jobless Claims Report, just ahead of the Labor Department's big Jobs Report coming on Friday.

It will most certainly be a full week of news, particularly as the aforementioned tension in the Middle East continues to simmer. There is a meeting scheduled for this Thursday with representatives from six nations to discuss this situation further.

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. As you can see in the chart below, Bonds were able to mount a late-week rally through a key "ceiling of resistance", and this move higher for Bonds caused home loan rates to improve. I'll be watching closely to see if Bonds can hold their ground, and continue in this improving direction in the week ahead.

Chart: Fannie Mae 4.5%% Mortgage Bond (Friday Sep 25, 2009)

MORTGAGE MARKET VIEW

Financial Benefits of Home Ownership

There are a number of personal and emotional reasons to buy a home. But there are also some strong financial reasons to make the investment. In addition to exceptional home affordability and near historic interest rates, here are some important financial benefits of owning a home:
Increased Net Worth: Few things have a greater impact on net worth than owning a home. In a comparison of renters versus homeowners, the Federal Reserve Board of Consumer Finance found that the average net worth of renters was just $4,000 compared to homeowners at $184,400.
A Big Tax Deduction: One of the largest tax deductions available is the amount of interest paid on a mortgage. In fact, a $150,000 home at a 5.50% interest rate can add up to approximately $8,000 in first year's interest. This amounts to a significant savings - effectively reducing the amount of a homeowner's monthly loan payment.
Long-Term Appreciation: Over the last few years, home prices have corrected and become more affordable. While that's good news for potential buyers, it has overshadowed the long-term appreciation of a home's value. The reality is, despite market ups and downs, real estate historically appreciates around 6% per year. Even if you calculate a modest appreciation of 3%, a home purchased today for $150,000 should grow in value to $364,000 over 30 years.
$8,000 Tax Credit: Don't forget, the government is offering an $8,000 tax credit for first-time homebuyers - or for folks that haven't owned a home during the past three years. However, the program is scheduled to end soon. In fact, the Internal Revenue Service recently reminded potential buyers that they must complete their first-time home purchases before December 1, 2009 to qualify for the special credit, which means the last day to close on a home and qualify for the credit is November 30, 2009.
If you're considering purchasing a home or refinancing, this is an ideal time. Call or email me today to discuss your specific situation and how you can benefit from today's market.
This Week's Economic Indicator Calendar
Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.
Economic Calendar for the Week of September 28 - October 02

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Tue. September 29
10:00
Consumer Confidence
Sept
57.0

54.1
Moderate
Wed. September 30
08:15
ADP National Employment Report
Sept
-200K

-298K
HIGH
Wed. September 30
08:30
Gross Domestic Product (GDP)
Q2
-1.2%

-1.0%
Moderate
Wed. September 30
09:45
Chicago PMI
Sept
52.0

50.0
HIGH
Wed. September 30
10:30
Crude Inventories
9/25
NA

NA
Moderate
Thu. October 01
10:00
ISM Index
Sept
54.0

52.9
HIGH
Thu. October 01
08:30
Jobless Claims (Initial)
9/26
NA

530K
Moderate
Thu. October 01
08:30
Personal Consumption Expenditures and Core PCE
YOY
NA

1.4%
HIGH
Thu. October 01
08:30
Personal Consumption Expenditures and Core PCE
Aug
NA

0.1%
HIGH
Thu. October 01
08:30
Personal Spending
Aug
1.1%

0.2%
Moderate
Thu. October 01
08:30
Personal Income
Aug
0.1%

0.0%
Moderate
Thu. October 01
10:00
Pending Home Sales
Aug
NA

12.9%
Moderate
Fri. October 02
08:30
Average Work Week
Sept
33.1

33.1
HIGH
Fri. October 02
08:30
Hourly Earnings
Sept
0.2%

0.3%
HIGH
Fri. October 02
08:30
Non-farm Payrolls
Sept
-188K

-216K
HIGH
Fri. October 02
08:30
Unemployment Rate
Sept
9.8%

9.7%
HIGH

A Very Special Duplex in a Very Special Location

marcyhome@gmail.com (Silicon Valley Real Estate) — Sun, 27 Sep 2009 21:22:00 +0000

10412 Meadow Place, Cupertino

Virtual Tour

This is a special home at the end of a lovely cul-de-sac in a residential neighborhood down the street from Monte Vista Park.

2 units

2 bedrooms in each unit

1 ½ bathrooms in each unit

Large, sunny dining room/sun room in the back unit

9,580 +/- square foot lot with mature landscaping

2,780 square feet of living space

Entire exterior has just been painted

2 car garage

Back unit has new carpet, new kitchen counters, and new bathroom floors

In unit washer and dryer in both units

Fantastic cul-de-sac location

Renowned Cupertino schools including Stevens Creek Elementary, Kennedy Middle School. Monte Vista High School (buyer to verify)

For more information please contact agent:

Marcy Moyer

Intero Real Estate Services

marcy@marcymoyer.com

650-19-9285

www.marcymoyer.com

D.R.E. 01191194

Palo Alto Market Update, September 16th: Single Family Homes

marcyhome@gmail.com (Silicon Valley Real Estate) — Wed, 16 Sep 2009 21:16:00 +0000

As of today, here's the snapshot of the Palo Alto single family home market:

115 Active listings

43 Pending sales

What does this mean? There was a huge increase in inventory last week. The PA broker’s tour was the biggest it had been all year. This may be a fluke as many people do not put their homes on the market in August so the first week after Labor Day has a lot of pent-up sales. I will know more next week regarding how the pending sales are doing, whether they're still brisk or if there's a slow down. Also it will be interesting to see how many new listings come on the market in the next 2 weeks. If we continue to see huge increases then the gains in the market we saw over the summer will probably not hold. If the inventory does not continure to increase and pending sales keep up then we should go back to a healthy though not overheated market.

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 Market Update, Single Family Homes: Sept 6th

marcyhome@gmail.com (Silicon Valley Real Estate) — Tue, 08 Sep 2009 22:01:00 +0000

Here's today's snapshot of the Palo Alto single family home market:
86 Active listings
50 Pending sales

What does this mean? The inventory of active listings continues to decrease, and the pending sales continue to increase. I think that we are experiencing significant change in the under 2 million dollar market. We have seen a number of multiple offers in Palo Alto and I think by Sept we may start to see that there is an up tick in the prices in the lower than 2 million dollar market.

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

Palo Alto Market Update, August 25th: Single Family Homes

marcyhome@gmail.com (Silicon Valley Real Estate) — Wed, 26 Aug 2009 04:32:00 +0000

Here's today's snapshot of the Palo Alto single family home market:

94 Active Listings

53 Pending Sales

It has been a month since my last update. I apologize! No excuse really, just needed a break. So here are my thoughts. The inventory is definitely getting closer to a buyer's market territory. Under 80 is definitely a buyer's market in Palo Alto. I don't think we will necessarily get there soon because August is always a low inventory month. However, the active to pending ratio going below 2 to 1 is a sign to me that things are getting better for sellers. But if you look at the over and under 2 million breakdown things are very uneven. There are 23 active listings over 2 million and 6 pending sales. Not a great ration, but not horrible, just short of 4 to 1. Under 2 million there are 71 active listings and 47 pending sales, better than 2 to one. What I find more interesting than the ratio of active to pending is the ration of over and under 2 million. There are more than 3 times the number of listing under 2 million as over, which for Palo Alto is a big change. It seems that Palo Alto has gone through a big correction without having had large numbers of short sales and foreclosures.

Sold stats are coming soon!

If 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

Palo Alto Market Update, July 26th: Single Family Homes

marcyhome@gmail.com (Silicon Valley Real Estate) — Mon, 27 Jul 2009 13:03:00 +0000

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

121 Active listings

33 Pending sales

What does this mean? The inventory of active listings decreased by 1 and pending sales decreased by 3. This is virtually unchanged from last week when there was a huge decrease in pending sales. The fact that pending has stayed stable is a good sign. The over 2 million market has 37 active listings and 7 pending sales which is pretty much the same as last week with only a decrease of 3 in active listings and the same number of pending . Under 2 million there are 84 active listings and 33 pending sales, which is slightly better than last weeks numbers. My guess is that we have hit the doldrums of summer and we will not see much change in August except maybe a little less inventory which is typical for August.

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 Market Update, July 5th: Single Family Homes

marcyhome@gmail.com (Silicon Valley Real Estate) — Mon, 06 Jul 2009 12:59:00 +0000

Here's today's snapshot of the Palo Alto single family home market:

112 Active listings

50 Pending sales

What does this mean? The inventory of active listings decreased by 6 and pending sales are decreased by 7. The ratio of active to pending hasn't changed much but since this was a holiday weekend there were not a lot of new listings. Again, the over 2 million market is holding on with 37 active listings and 14 pending sales--almost unchanged from June 7th and June 26th . Under 2 million there are 75 active listings and 36 pending sales, putting the ratio at little less than to 1 to 2 which is not changing much this month. Overall, things are better than they were a few months ago, and the same compared to a few weeks ago with more realistic sellers and more qualified buyers. July is traditionally a busier selling time than June so it will be interesting to see if the improvement holds even further into the summer months. The inventory is less this week, so it will be interesting to see if this continues or if it is just a function of the holiday

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

Palo Alto Market Update, June 27th: Single Family Homes

marcyhome@gmail.com (Silicon Valley Real Estate) — Sat, 27 Jun 2009 13:02:00 +0000

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

118 Active listings

57 Pending sales

What does this mean? The inventory of active listings decreased by 7 and pending sales are decreased by 1. We are now getting even closer to a 1 to 2 ratio which is pretty good. During 2006 we were at 1 to 1. Again, the over 2 million market is holding on with 38 active listings and 14 pending sales which is almost unchanged from June 7th. . Under 2 million there are 80 active listings and 43 pending sales, putting the ratio at little better than to 1 to 2 which is definitely improving. Overall, things are a little better than they were a few months ago, and even better than a few weeks ago with more realistic sellers and more qualified buyers. June is traditionally not the busiest selling time so it will be interesting to see if the improvement holds even further into the summer months which tend to be a little slower in this area. The inventory is less this week, so it will e interesting to see if this continues.

Solds will be in the next post.

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

East Palo Alto Ikea

marcyhome@gmail.com (Silicon Valley Real Estate) — Tue, 16 Jun 2009 00:29:00 +0000

The gargantuan IKEA store in East Palo Alto should be a go-to place for anyone seeking inexpensive stylish furniture for their home or rental. Even if you're just after a replacement sofa or a new bedside table, Ikea's got a huge selection, and the prices are low enough to make it worth the hassle of dealing with the store's admittedly stressful checkout experience.

The store is designed with shoppers in mind. There's a restaurant (open from 9:30-8PM) featuring Swedish meatballs with lingonberry sauce for five dollars (a must-have for any true IKEA adventure), pasta dishes, cinnamon buns, and 99 cent mix-and-match kids menu (organic applesauce and mac&cheese are among the offerings). In the mornings there's often a long line for the 99 cent breakfasts of eggs, Swedish potatoes, and bacon.

IKEA gets another huge plus for kid friendliness--there's a colorful play area staffed with babysitters where the kids can hang out until you're done shopping. If anything goes wrong, the staff will page you, so you can go ahead and relax while browsing.

The showrooms are a good jumping-off point for anyone starting from scratch. They are organized by room-purpose (living room, bedroom, dining room, etc.), and an endless variety of styles. Seeing the showrooms already put together can help you get a feel for what goes with what, and how certain pieces of furniture might look in your own space. Here's an example of one--

Some shoppers are put-off by IKEA's mass produced products, and it's true there's a certain automaton quality about the product room with of all its numbered boxes. But still, the prices are unbeatable, and most of the furniture is hardy and reliable. Supplementing heirlooms or antiques with IKEA furniture isn't a bad way to go, and even if your study looks like an IKEA showroom, little touches of personality are all it takes to make a space unique and personal.

Temporary renters should especially consider a trip to IKEA--almost everything in the store is lightweight, easy to dismantle, and comes in do-it-yourself pieces that can fit through any door or tight hallway. If putting together a wall-sized bookshelf is too daunting for you, IKEA offers a builder service for a fee.

In case you've missed it or you're new to the area, IKEA is located at 1700 E. Bayshore Road, directly across the freeway from the Four Seasons Hotel. It's open daily from 10AM-9PM, and the phone number is 650-323-4532. This handy little map shows where the store is located in relation to the surrounding area.

Happy shopping!

Menlo Park, CA: Condo For Rent, $2500 a Month

marcyhome@gmail.com (Silicon Valley Real Estate) — Mon, 15 Jun 2009 01:57:00 +0000

Wonderful Condo For Rent in Sharon Heights

2371 Sharon Rd., Menlo Park, Ca

CLICK HERE FOR VIRTUAL TOUR!

2 bedrooms

2 baths

Inside washer/dryer

Wood floors

Central heat and air

Patio

Pets permitted

Huge extra storage

1 car garage plus additional parking

Las Lomitas Schools

Complex with pool and lush landscaping

Close to shops and schools

Marcy Moyer
Intero Real Estate
650-619-9285
marcy@marcymoyer.com
www.marcymoyer.com

Mountain View, CA: Brand New Townhome for Rent Near Google

marcyhome@gmail.com (Silicon Valley Real Estate) — Sun, 14 Jun 2009 01:43:00 +0000

Gorgeous Brand New Townhome For Rent

Near Google,New Price!

$2750 a month

CLICK HERE FOR VISUAL TOUR!

2 Large Bedrooms

2 1/2 Baths

Gorgeous huge kitchen with slab granite counters and stainless steel appliances

Inside washer/dryer

Wood floors

2 car tandem garage

CentralHeat and Air-conditioning

Great new complex in a very convenient location

1 year lease required

No smoking or pets please

Marcy Moyer

Intero Real Estate

650-619-9285

marcy@marcymoyer.com

www.marcymoyer.com

Palo Alto, CA: Wonderful Townhome for Sale

marcyhome@gmail.com (Silicon Valley Real Estate) — Thu, 11 Jun 2009 01:32:00 +0000

Wonderful Townhome For Sale

Open Sat/Sun 1:30-4:30

733 Loma Verde Ave. #C Palo Alto

Offered for $725,000

CLICK HERE FOR VIRTUAL TOUR!

Affordable 3 Bedroom Townhome in Midtown Palo Alto

This is a great opportunity to own a 3 bedroom/2.5 bath townhome in Midtown at an affordable price, and it looks pretty too! The location is ideal, with shops, schools, library, parks, and commute routes right outside the doorstep. Come by and see how much fun it is to live in this friendly community.

This lovely home features:

3 bedrooms including a master suite

Master bedroom with walk in closet

One bedroom with built in shelving

Third bedroom also with ample closet space

2 ½ baths including a master bathroom, hall bath upstairs, and ½ bath downstairs

Remodeled kitchen with gorgeous sea foam green corian counters, stainless steel appliances, and abundant counter space

Gorgeous maple pergo floors through out the house

Step down living room with cozy fireplace and sliding doors to the back patio

Separate dining room

Washer and dryer on second floor where the bedrooms are

Large lovely patio with flower beds, decking, and tall privacy walls

Two underground parking spaces in a secured parking lot with elevator

Additional storage room

Complex with pool

HOA fees of $525 a month which cover roof, painting, landscaping, garbage, sewer

Assessment for repairs to the garage and walkways to be paid by seller

Excellent Palo Alto Schools including Palo Verde, JLS, and Palo Alto High (buyer to verify availability of individual schools)

1,426 square feet of living space (per county records)

1,742 square foot lot per county records

Palo Alto Market Update, June 7th; Single Family Homes

marcyhome@gmail.com (Silicon Valley Real Estate) — Mon, 08 Jun 2009 21:20:00 +0000

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

125 Active listings

58 Pending sales

What does this mean? The inventory of active listings decreased by 9 and pending sales have decreased by 2. Now we're getting even closer to a 1 to 2 ratio which is pretty good news. During 2006 we were at 1 to 1. Again, the over 2 million market is a little better with 42 active listings and 13 pending sales which is almost unchanged from last week. Under 2 million there are 83 active listings and 45 pending sales, putting the ration at slightly better than to 1 to 2 which is definitely an improvement. Overall, things are a little better than they were a few months ago, and even better than a few weeks ago with more realistic sellers and more qualified buyers. This is traditionally the busiest selling time so it will be interesting to see if the improvement holds into the summer months which tend to be a little slower in this area. The inventory is less this week, so again, it will be interesting to see if this continues.

Solds will be separate again.

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

Palo Alto Citywide Yard Sale: Tomorrow!!

marcyhome@gmail.com (Silicon Valley Real Estate) — Sat, 06 Jun 2009 00:03:00 +0000

Help the environment, your wallet, and the community by participating in Palo Alto's citywide yard sale tomorrow. It's from 8:00AM to 1:00PM, and you can plan your route by visiting the adorable maps here--sale addresses are marked with stars, and little ice cream cones, coffee cups, and froyo swirls represent places to refuel.

There's even a nifty activity for the kids--Captain Greenbeard's Treasure Hunt Adventure--which uses those fun maps as guides for a treasure hunt doubling as a lesson in waste prevention (and a way to keep the kids out of your hair while you're shopping). Make sure you download the tip sheet. It includes coupons for free froyo, coffee, and ice cream.

This year a record 307 residents are taking place in the event. According to an article in Palo Alto Online, sale items include an antique bed, a zither, persian rugs, and cigarette-lighter collection.

The sale is part of the city's Zero Waste Program. Here's how they describe themselves (from the website):

Inspired by the environment’s natural cycles, the mission of the City of Palo Alto Zero Waste Program is to work in partnership with our community to conserve resources and minimize material consumption to reduce our waste to zero (or darn close) by 2021.

Gotta love this town.

Mantra Restaurant: The Best Deal in Town

marcyhome@gmail.com (Silicon Valley Real Estate) — Fri, 05 Jun 2009 23:40:00 +0000

Last August I wrote a post describing the deliciousness that is Mantra Restaurant (check that out here). For those of you who haven't yet tried it, you no longer have any excuse. Everyday in the Daru Lounge (a comfortable seating area adjacent to the main dining room) Mantra offers two ridiculously inexpensive happy hour specials.

The first is from 4:30 to 6:30PM, and it's 50% off the entire menu--that means half-priced wines, cocktails, and food. The second happy hour starts at 9:30, and it offers a 25% discount, again on everything.

If you're having trouble believing this, click here for the restaurant's website. Don't miss the drool-worthy menus.

According to rumors circulating through yelp reviews, Mantra's shocking happy hour discounts are the owner's attempt to create good karma for the restaurant and the community. I'd say he's doing a pretty good job.

New Townhome For Rent in Mountain View at Gables End

marcyhome@gmail.com (Silicon Valley Real Estate) — Sat, 30 May 2009 23:27:00 +0000

Gorgeous Brand New Townhome For Rent Near Google

Virtual tour: http://www.visualtour.com/shownp.asp?T=1900653

2 Large Bedrooms
2 1/2 Baths
Gorgeous huge kitchen with slab granite counters and stainless steel appliances
Inside washer/dryer
Wood floors
2 car tandem garage
CentralHeat and Air-conditioning
Great new complex in a very convenient location
1 year lease required
No smoking or pets

Pictures available
Site http://www.agustinito.com
Grand Room
Second Bedroom

Marcy Moyer
Intero Real Estate
650-619-9285
marcy@marcymoyer.com
www.marcymoyer.com

Palo Alto Market Update, May 23rd: Sold in the Last Week

marcyhome@gmail.com (Silicon Valley Real Estate) — Sun, 24 May 2009 23:22:00 +0000

Summary Of Comparable Properties
Single Family Residential

Address	City	Beds	Bath	DOM	CDOM	LOE	SqFt	$/SqFt	Lot(SqFt)	List Price	Age	Sale Price

SOLD
1196 Hamilton Av	Palo Alto	4	3 1/2	80	80	25	3,000	$921	11,250	$2,825,000	84	$2,763,000
1250 Lincoln Av	Palo Alto	5	3	214	214	23	3,055	$746.32	12,155	$2,295,000	83	$2,280,000
776 Forest Av	Palo Alto	3	2	6	6	30	1,657	$964.39	7,500	$1,598,000	89	$1,598,000
826 Los Robles Av	Palo Alto	3	2	91	91	21	1,254	$841.31	5,754	$1,098,000	44	$1,055,000

AVERAGE VALUES				98	98	25	2,242	$868.26	9,165	$1,954,000	75	$1,924,000

1196 Hamilton originally listed at $3,195,000.

1250 Forest originally listed at $3,195,000.

The homes over 2 million with large lots seem to be very popular right now.

If you're having trouble viewing charts in their entirety, try expanding your browser window to its maximum size.

Palo Alto Market Update, May 23rd: Single Family Homes

marcyhome@gmail.com (Silicon Valley Real Estate) — Sun, 24 May 2009 23:19:00 +0000

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

136 Active listings

60 Pending sales

What does this mean? The inventory of active listings decreased by 2 while pending sales are increased by 4. . We are now getting closer to a 1 to 2 ratio which is pretty good. During 2006 we were at 1 to 1. Again, the over 2 million market is a little better with 46 active listings and 14 pending sales which is almost unchanged from last week. Under 2 million there are 90 active listings and 47 pending sales, putting the ration at very close to 1 to 2 which is definitely improving. Overall, things are a little better than they were a few months ago, and even better than a few weeks ago with more realistic sellers and more qualified buyers. This is traditionally the busiest selling time so it will be interesting to see if the improvement holds into the summer monthswhich tend to be a little slower in this area.

Solds will be separate again.

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

Mountain View, Brand New Townhome for Rent: $3000 a Month

marcyhome@gmail.com (Silicon Valley Real Estate) — Fri, 22 May 2009 23:16:00 +0000

Gorgeous Brand New Townhome For Rent Near Google

2 Large Bedrooms
2 1/2 Baths
Gorgeous huge kitchen with slab granite counters and stainless steel appliances
Inside washer/dryer
Wood floors
2 car tandem garage
CentralHeat and Air-conditioning
Great new complex in a very convenient location
1 year lease required
No smoking or pets

Pictures available
Site http://www.agustinito.com
Grand Room
Second Bedroom

Marcy Moyer
Intero Real Estate
650-619-9285
marcy@marcymoyer.com
www.marcymoyer.com