While most years I would say wait until the tenants are gone but with the uncertainty of how interest rates will affect prices and what will happen to a Palo Alto market that has already shown signs of slowing, even with very tight inventory, the answer is not clear cut.
Sell Palo Alto Probate or Trust Home With Tenant: Pros:
A trust sale is not the same as a regular sale. But the differences are not that great. It is actually a much more simple process than a probate sale, and a world away from a short sale or foreclosure.
In a trust sale, the owner of a property has passed away and the home is being sold to settle an estate. The seller of the house is the successor trustee to the estate and is charged with disposing of the assets of the estate to … (1 comments)
palo alto trust realtor: Why Is A Palo Alto Escrow Like a Teen Romance?
- 11/23/10 03:33 PM
The beginning of a Palo Alto escrow is like the beginning of a teenage romance, everything is perfect. You have found your soul mate and all promises are meant to be kept. You never dream that your heart will ever be broken. It doesn't matter that one party is a jock and the other an intellectual, one is a Democrat and one a Republican, or one likes to party and the other is a vegan. And then reality sets in. I don't think I have to go into gory detail. Well, sometimes an escrow is like that but hopefully your escrow will have a better track … (9 comments)
palo alto trust realtor: Do You Care About Your Children?
- 11/21/10 07:57 AM
I am not a lawyer or an accountant so please do not construe this as legal or tax advice. However, friends do not let friends leave their estates to probates, so let’s just say I am your friend. As a realtor who specializes in Probate and Trust sales, it does not matter to me whether the estate is being probated, or passed down through a trust. But it does matter to the heirs, especially now that the estate tax will kick in after a million dollars starting in January, unless Congress and the administration change it. How likely is that? They can … (9 comments)
palo alto trust realtor: Palo Alto CA Market Update, July 27th: One Year Later!
- 07/27/10 02:50 PM
Sorry for the recent silence on my blog. Summer is busy! Lately I've been interested in tracking market changes by looking at my old market update posts and comparing them to current trends. Here's the latest in what I hope to be a semi-regular occurrence... the One Year Later market update. Let me know if these compare/contrast updates are as interesting for you as they are for me. My Market Update for 7/26/10 Here's today's 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 … (0 comments)
palo alto trust realtor: I Have Learned More Than I Want to About Second Story Additions
- 07/16/10 12:11 PM
I have never been a huge fan of expanded homes. There are a number of problems that can come with these properties. The expansion could have been done in a way that destroyed the original charm of the home. The addition could have been done without the needed permits. And then there's what I am dealing with right now: the extension was done in a way that enhances the look of the home, and was done with architectural drawings, an engineering stamp, and a permit that has a final from the city, but there are still problems. When a home is built … (2 comments)
palo alto trust realtor: An Interesting Alternative to Foreclosure: A Deed in Lieu of Foreclosure
- 07/02/10 06:02 AM
There is a new (actually renewed ) option for underwater homeowners who cannot, or do not want to pay their mortgage. A deed in lieu of foreclosure is an agreement between the bank and the borrower. The borrower gives the home back to the bank and the bank does not have to go through the foreclosure process. It can be a win win situation for both the bank and the borrower. The government HAFA program is the major force behind this renewed option. If a borrower does not qualify for a loan mod, or gets a mod and is not able to make the payments, … (8 comments)
palo alto trust realtor: Palo Alto CA Market Update, June 27th: With A Neighborhood Twist!
- 06/30/10 08:24 AM
Active Listings: 110 Pending Sales: 49 There has been a jump in inventory this week ahead of the fourth of July holiday. Since there will not be a lot of new listings this week due to the holiday some of this inventory may be sold off, or maybe not. I will keep my eye on it. I thought the neighborhood breakdown was interesting so I am going to do it again. So here is the neighborhood breakdown: Downtown: 5 Active 2 Pending one less pending Professorville: 3 Active 2 Pending exactly the same Community Center: 6 Active 3 Pending more listings … (0 comments)
I did it. I finally joined Twitter. And after playing around with it for a little while, I have to admit... it's actually kind of FUN. Feels like a big spontaneous conversation. Are any of you on Twitter? What do you think of the networking tool?
Follow Me, marcyagent!
… (6 comments)
palo alto trust realtor: Is Zibibbo Closed?
- 06/08/10 01:04 PM
I was walking around downtown Palo Alto yesterday and I noticed that the typically crowded Zibibbo is closed. Not sure if it's temporary or what, but it looked pretty permanent. Does anyone know anything about this? I've always heard great things about Zibibbo--it has over three hundred reviews on Yelp (most of them positive) and a few years ago it was one of Gourmet Magazine's twenty best American restaurants. Which I guess doesn't mean so much anymore, considering Gourmet's sad fate earlier this spring. Like Gourmet, Zibibbo may have just been too stranded in an earlier time--a time when people … (0 comments)
How good do these blackberries look? Few places in the world make me as happy as the Palo Alto Farmers' Market. Every Saturday morning (8AM to 12PM) from mid-May to mid-December local farms and artisanal food vendors line up along California Avenue, selling the freshest produce imaginable and other hard-to-find foodstuffs. This time of year is particularly wonderful, because it's the peak of cherry season (I LOVE CHERRIES) which means for a couple of months I have access to unbelievable cherries, cherries so good they ruin me for the rest of the year--seriously, it's hard to eat frozen cherries or even … (0 comments)
Under 1 million: 14 Active Listings / 10 Pending Sales 1 to 2 Mil: 48 Active Listings/ 28 Pending Sales 2-3 Million 27 Active listings/ 9 Pending Sales 3+ mil: 14 Active Listings/ 3 Pending Sales
What does mean? There is a pretty good jump in inventory for 89 to 103 active listings. Active to pending ratio is starting to increase in the under 1 million and 1-2 million dollar price points. It had … (0 comments)
Remember my last blog post, about the Palo Alto farmers' market, where I promised to speak at greater length about the amazingness that is American Spoon Foods and everything that comes out of their kitchen?
Well, I'm moved to speak sooner than I thought, because I just discovered something ridiculously cool---American Spoon Foods has a blog. A detailed, adorable blog, complete with pictures of the chefs at work and hunger-pang inducing close-ups of fruit in various stages of the canning (is that the right word? maybe preserving?) process. It's called Spoon Blog. SPOON BLOG. Love it (as only a truly obsessive blogger could). I'm getting … (2 comments)
1. Probate courts have various responsibilities, but in regards to real estate probate is the process of distributing the estate of a deceased person, called the decedent. The estate is any property or cash that has not been distributed into a trust.
2. The decedent can either die leaving a will (testate) or not leaving a will (intestate) In either case the estate needs to be probated in order to distribute the assets. (property, cash, real estate)
3. If there is a will, a Testate Estate, the person named in the will as the … (5 comments)
Under 1 million: 7 Active Listings / 12 Pending Sales 1 to 2 Mil: 41 Active Listings/ 37 Pending Sales 2-3 Million 25 Active listings/ 9 Pending Sales 3+ mil: 16 Active Listings/ 4 Pending Sales
What does this mean? Active to pending ratio is stagnant in all categories from last week, with the exception of the 2-3 million price point. It was 18 to 8 and is now 25 to 9. If … (0 comments)
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 … (0 comments)
This home needs major repair, but the lot is lovely and has great potential. Features include:
1,044 square foot of living space (per city records) 5,931 square foot lot (per city records) One bedroom One bathroom Bonus room Large eat in kitchen with gas stove Garage with additional storage City says 2 story home of 2000 square feet can be built (buyer to verify) Excellent Palo Alto Schools including Barron Park elementary, Terman Middle School, and Gunn High School
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