palo alto short sales: Palo Alto Ca Short Sale/Bank Owned Round Up - 07/30/12 05:46 AM
In Palo Alto from Jan 1, 2012 until June 30, 2012 there were:
1 closed short sales
3 closed bank owned homes
Total sales during this time period were 284
Total % Short Sales: .3%
Total % REO Sales: .9%
Total Percentage  Palo Alto Distressed Properties: 1.2%
1.2% of all Palo Alto sales being distressed properties is not enough to even comment on. The price of homes have in Palo Alto is now up to pre 2008 prices in the $2,500,000 price range and the homes over $2,500,000 usually do not have loans that are a very high percentage of their value so anyone … (0 comments)

palo alto short sales: Palo Alto Distressed Property Watch: 2011 - 12/29/11 04:01 PM
It's the end of the year so time for the round-up of distressed property sales in Palo Alto. So here's what happened:
 
Single family and condo townhomes 2011:
Total sales:  590
Short Sales: 13
REO:           9
Distressed sales as a percentage of total sales: 3.73%
Compare to 2010
Total sales:   563
Short Sales:   8
REO:            6
Distressed sales as a percentage of total sales:  2.5
 
My conclusion:
The percentage of distressed properties in Palo Alto are not enough to make a difference in the market value of … (0 comments)

palo alto short sales: Why A Palo Alto Short Sale Agent is Working on Christmas Eve - 12/24/11 10:37 AM
One of the best things that has happened to short sales in the last couple of years is the on line platform for processing a short sale. There are several platforms in use, but Equator is one of the more popular ones, and is the one used for Bank of America and Wells Fargo Short Sales. So, instead of your agent having to fax all the documents, usually several times, the short sale documents are uploaded as PDFs onto the Equator web site. In order to keep the process moving forward Equator will assign a task to be fulfilled by the … (2 comments)

palo alto short sales: What Happens If You Want to Buy a San Jose Condo With More Than 30% Rentals - 09/04/11 01:40 PM

 
Buying a condo can be complicated. There are many things a buyer and lender will look at to determine if it is the right place to buy and if the lender feels it is a safe investment.  Some of the considerations for the lender are:
1. How many delinquent HOA dues are outstanding?
2. How many recent foreclosures or short sales?
3. Is all of the needed insurance in place for full replacement?
4. How well funded are the reserves?
5. Is there any outstanding litigation?
6. And now a very important question is what is the percentage of … (0 comments)

palo alto short sales: What to Do If Credit Report Shows Foreclosure Instead of a Silicon Valley Short Sale - 07/10/11 07:26 AM
Credit reports frequently have mistakes. Very often consumers are not aware of these mistakes until they are trying to obtain credit for a large purchase like a home or car.  There is a process for rectifying credit mistakes, but it can take some time.
As more and more short sales are being processed it is only natural that some mistakes are showing up on credit reports, especially since there is no standard way for a credit report to reflect a short sale. The bank may report loan paid as agreed, or loan paid for less than the full amount. Which ever … (27 comments)

palo alto short sales: Palo Alto Distressed Property Update 2011 Jan-June - 07/05/11 07:51 AM
It's time again. Curious about how many distressed properties there really are in Palo Alto?  Despite what you may be reading these are the homes for sale or sold on MLS as Short Sales or Bank Owned.
Sold: 
Short Sales: Single Family Homes  3
Short Sales: Townhome or condo:  2
Bank Owned: Single Family Homes  2
Bank Owned Townhomes or Condos  4
 
Active:
Short Sales:  Single Family Homes  1
Short Sales Townhomes or condos   1
Bank Owned Single Family Homes   0
Bank Owned Townhome or Condo    1
 
Pending Sales:
Short Sales: Single family homes  2
Short … (0 comments)

palo alto short sales: Distressed Property Watch Palo Alto Ca - 05/02/11 01:35 PM
The first quarter of 2011 has net seen a lot of activity of distressed properties in Palo Alto.  Here’s the update:
 
1.     Sold foreclosures: 1 single family home  4 condos
2.     Active and pending foreclosures: 0
 
1.     Sold short sales:  1 condo
2.     Active and pending short sales:  5 single family homes and 1 condo
 
Total Homes sold in first quarter:  156 (combined single family homes and condos)
 
 
 
The percentage of distressed properties in Palo Alto is still very low compared to most of the country with almost no foreclosure activity.  However, there are a … (0 comments)

palo alto short sales: What if I Want to Buy A Menlo Park House That Should Be a Short Sale But Isn't - 03/07/11 04:21 AM
While much of the Bay Area has seen a large increase in the number of homes being sold as short sales there have not been very many Menlo Park homes or Palo Alto homes that are being sold this way.  However, as long the housing market has not appreciated back to the peak levels, and there are still people who need to sell homes that are worth less than the mortgages on them, short sales will be here, and possibly in increasing numbers.  So what happens when you find a home you really want to buy but it is priced higher … (0 comments)

palo alto short sales: The Whole Neighborhood Does Not Have to Know About Your Palo Alto Short Sale - 12/23/10 03:30 AM
If you want to sell your home but it is worth less than your mortgage then you are not alone. A large percentage of homeowners are in this situation.  Fortunately, in the last year many banks have made the process of doing of short salesmore efficient and are approving short sales in record numbers.  However, many homeowners want to keep their privacy while this is happening. If you are a Palo Alto homeowner, or a homeowner in the surrounding areas like Menlo Park, Los Altos, Portola Valley, Woodside, Redwood City, or Mountain View, and do not want your neighborhood to know … (3 comments)

palo alto short sales: Palo Alto Ca Short Sale/REO Watch 11/30/2010 - 11/30/10 03:32 PM
Are you waiting for the rash of short sales and REO properties in Palo Alto so you can snatch a bargain. or just curious about them? Well, not much has changed in the last few months. There are a few of these types of sales, but not many. Short sales, as in other places, are more common than foreclosures. Most banks are at least giving homeowners the option to try to do a loan modification or short sale before foreclosing. These options do not always work, but they are worth a try.
Active Short Sale Listings:  1 condo  2 Single family … (4 comments)

palo alto short sales: Palo Alto Market Update - 10/30/10 01:08 PM

According to the MLS here is the state of the market for 10/28/2010...  
Active listings:  88 Pending Sales:  60 Active Short Sales:  1 Active Bank owned: 1 Pending Short Sales: 1 Pending Bank owned: 0 Sold Short Sales 2010: 2 Sold Bank Owned in 2010: 1  
What does this mean? Despite the reports of doom and gloom in the media for the national real estate market, and despite the hysteria on many web sites, as of now, the Palo Alto market is not being influenced by distressed properties.  This does not mean that it will not be in the … (0 comments)

palo alto short sales: Silicon Valley/Bay Area Short Sale Up Front Pricing: How It Can Help Both Buyer and Seller - 10/13/10 03:54 PM
 
 
HAFA does it, and now Bank of America is trying it. What is it?  In a short sale the seller owes more to the bank than their home is worth. In order to sell the home the bank or banks have to agree to accept less than property is worth to satisfy the loan.  The problem is that no one knows what the bank will accept until they get an offer and that offer is analyzed by the lenders.  Since this often takes many months it can often lead to foreclosure at worst, and incredible frustration at best.
  
HAFA short sales which … (0 comments)

palo alto short sales: Will Palo Alto Have a Rash of Closed Short Sales? - 07/30/10 02:49 PM
Last year I predicted that Palo Alto will see more short sales in the future. Well, the future is now so what is happening?  There are currently 2  short sales on the market,  5 in escrow,  and 6 closed in the last year.  This isn't a huge number, but certainly more than we saw in the early part of the century.  There's a lot of chatter in the media about how the government is giving banks and homeowners incentives for short sales, and how banks save money by allowing short sales, but does that help the typical Palo Alto underwater seller? The … (0 comments)

palo alto short sales: The FACTS About Palo Alto Short Sales and Foreclosures - 06/08/10 01:51 PM
There's a lot of chatter on real estate blogs about the steep increase in foreclosures and short sales in Palo Alto.Unfortunately many sites post stats from a company called Realty Trac which tracts everything from a Notice of Default through a listed bank owned property.  Many things can happen before a home with a Notice of Default actually gets to be sold by the bank, but unless you read the fine print carefully it is easy to confuse a house that is behind a few months in payments with an actual bank owned property on the market for sale. Most bank owned homes as … (2 comments)

palo alto short sales: Palo Alto California Avenue Farmers' Market - 06/08/10 12:54 PM
 

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)

palo alto short sales: Who is Selling in Palo Alto, Ca Update 04-12-09 - 04/12/09 06:43 AM
Who Is Selling In Palo Alto? Updated 04/11/09
 
On 1/31/09 I wrote the following blog:
There has been a lot of speculation about what will happen to the market in Palo Alto. Will it drip 30%, drop 10%, improve in 6 months? Most of the argument against Palo Alto having a lot more decrease in home value, is the thought that most people here did not get bad loans and therefore do not have to sell. If most people don't have to sell, the prices should not go down too much, but if more people selling do have to sell … (1 comments)

palo alto short sales: Who Is Selling In Palo Alto,Ca? - 01/31/09 01:59 PM
Who Is Selling In Palo Alto?
 
There has been a lot of speculation about what will happen to the market in Palo Alto. Will it drip 30%, drop 10%, improve in 6 months? Most of the argument against Palo Alto having a lot more decrease in home value, is the thought that most people here did not get bad loans and therefore do not have to sell. If most people don't have to sell, the prices should not go down too much, but if more people selling do have to sell that would bode for sharper decreases. I thought it … (0 comments)

 
Marcy Moyer, Probate, Trust, and Investment Specialist (eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales) Rainmaker large

Marcy Moyer

Probate, Trust, and Investment Specialist

Mountain View, CA

More about me…

eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales

Address: 455 West Evelyn Avenue, Ste 1101, Mountain View, Ca, 94041

Office: (650) 619-9285

Mobile: (650) 619-9285

Email Me

Up to date information on real estate in the Silicon Valley and greater San Jose/San Francisco area. Contact Me Interested in selling your home? Contact me to get a professional estimate. Marcy Moyer Call: (650) 619-9285 My Palo Alto real estate listings Visit Short Sale Superstars


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