Bay Area Market ... Pre-Foreclosures in Palo Alto, California - 12/29/10 01:02 PM
I recently wrote about pre-foreclosures - distressed properties for which the owner has been notified by their lender that they are late on their mortgage payments.  Although these properties are not always listed for sale, it's possible to initiate a sale and potentially help the current owner out of a tight spot.  Many owners won't list their property for sale because they don't want the embarrassment of a For Sale sign in their yard or they don't think they can get the price they want.  Some see foreclosure as unavoidable and a short sale as a long, painful and fruitless process.  … (0 comments)

Bay Area Market ... The Last REO and Short Sale Homes in Palo Alto, California - 12/29/10 09:47 AM
Palo Alto is a community with a lot going for it.  Best of all, home values have remained stable over the past few years in most neighborhoods and prices have even gone up in a few.  During a routine property search for a relocation client this morning, I stumbled across an interesting fact:  In Palo Alto, there is only one bank owned property and one short sale property listed on the MLS (single family homes only).
The lone single family home currently listed as bank-owned:
Is this a sign of economic conditions improving?  Of the housing market rebounding?  I'm not sure, … (0 comments)

Bay Area Market ... Multi-Family Properties in Mountain View and Sunnyvale, California - 12/29/10 09:17 AM
Mountain View and Sunnyvale are located in the heart of Silicon Valley, convenient to shopping, airports, and most of the major high tech business parks.  Prices for multi-family properties (5 units or more) have dropped significantly over the past three years, creating opportunity for both new and experienced residential investors to add multi-family properties to their portfolio.
Here are multi-family properties currently on the market in Mountain View and Sunnyvale for $2M and under:
S = Studio   SFR = single family home
To receive updates on multi-family and other income properties in the Bay Area, give me a call or shoot … (0 comments)

Pre-Foreclosures Are Not Always For Sale... But Might Be - 12/28/10 12:42 PM
Buyers, I hear you.  Several calls and emails each week from buyers of family homes and investment properties saying - "show us foreclosures and short sale properties, we want a deal!"
Many of you are also asking to look at pre-foreclosure properties.  But a common misconception is that these properties, also called distressed properties or NOD's (Notice of Default), are always for sale.  We get visibility to the fact that the current owner is behind on their mortgage when the lender files a Notice of Default with the county recorder's office, which makes the notice a public document.  There are dozens … (0 comments)

Yes, this is rocket surgery... - 12/28/10 11:46 AM
As a former mortgage broker, I was known to tick off more than a few real estate agents by asking that insane question of would-be home buyers:  "How much are you willing to spend on housing each month?"  We'd then look at some papers, run some numbers, then I'd shoot out an email to the buyer's agent that would say something like: "Your client qualifies to buy a house worth $1.5M, but due to other priorities in their family life they want to spend only enough to buy a house worth $750k."
Fast forward to the return email from the agent:  … (2 comments)

Bay Area Market ... Affordable Homes in Los Altos and Los Altos Hills, California - 12/28/10 09:00 AM
Los Altos and Los Altos Hills are adjacent, up-scale communities known for beautiful homes, tree-lined streets, community events, great schools, and many neighborhoods that have continued to hold their value.  They are centrally located in the heart of Silicon Valley, less than 20 minutes from the San Jose airport, but the small town feel keeps homes in this area always in demand.
Is it possible to buy a single family home in Los Altos or Los Altos Hills for under $1,500,000?  Yes.  Here are homes currently listed for under $1,500,000:
            *Bank-owned sale
Whether looking to move up from elsewhere in … (0 comments)

Northern California Life ... A Broker's Weekly Wine - 12/27/10 07:57 PM
Thanks for coming back to another weekly review of California wine and wonderful places to visit in and around wine country.
This week I'm going to share a great find discovered during a recent visit to the tasting room at Napa Valley's Sequoia Grove Winery.  After ordering a tasting and making it far down the list, the bartender presented the 2008 Rebellious Red and announced proudly, "It's made out of grapes and its wine."
End of story.
Rebellious Red is a great all-purpose red table wine that is fine on its own and great with food that you'd usually pair with … (0 comments)

Happy Festivus!!! - 12/23/10 09:03 AM
It's finally here!  Since 1966, Festivus (December 23rd) has been that wonderful holiday that gives the rest of us something to cheer about.  Break out the ham, Pepperidge Farm cake and M&Ms!Those of you invited to my place later, I hope you're prepared to air grievances and display mighty feats of strength.  I got a lot of problems with some of you people!!!And yes, the pole is out of the garage and proudly displayed in the living room.  It's a beauty.
… (1 comments)

Bay Area Market ... Affordable Homes in Palo Alto, California - 12/23/10 08:46 AM
Palo Alto is known for shady streets, great schools, a vibrant downtown, and many neighborhoods that have continued to hold their value.  Home to nearby Stanford University (actually located in the town of Stanford), many of the world's most successful high technology companies, great shopping and public transportation, Palo Alto continues to be a great place to live, work and play.
Is it possible to buy a single family home in Palo Alto for under $800,000?  Yes.  Here are two homes currently listed for under $800,000:

Whether looking to move up from elsewhere in the Bay Area or relocating from … (0 comments)

Northern California Life ... A Broker's Weekly Wine - 12/18/10 08:19 PM
Today, I stand on my soap box and proclaim that the vineyards of California produce some of the finest wines in the world.  As a real estate broker living and working in Silicon Valley during the week and relaxing in the west end of Fairfield on weekends, just 10 miles from downtown Napa, I have the unique opportunity to enjoy both urban life on the peninsula and the beautiful scenery - and wine - of Napa and Sonoma counties on a regular basis.
At the request of many who have asked about what to see and do in northern California wine … (0 comments)

 
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John Souerbry - Luxury Homes, Land, Investments

Palo Alto, CA

More about me…

John A. Souerbry & Associates - Bay Area Real Estate

Address: PO Box 61192, Palo Alto, CA, 94306

Office Phone: (650) 815-6182

Cell Phone: (925) 323-1450

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