The real estate market in Palo Alto is probably one of the best ones for sellers in the county. There are many times more buyers than sellers in Palo Alto, but that does not mean every home sells instantly with multiple offers for hundreds of thousands of dollars over asking price.
If you are a Palo Alto home seller and own a home that may have a limited market appeal there are some things you can do to help you get a better price and terms when you sell your Palo Alto home.
There are several reasons why your Palo Alto home may have a limited market appeal. these include:
1. Located on a busy street
2. Located very close to the Cal Train tracks
3. Located very close to 101
4. Having an odd floor plan, like having 2 bedrooms on one floor and 2 bedrooms on another floor
5. Located close to electric transformer towers
The general rule is any home in Palo Alto can sell for the right price, but you want to optimize the price you get for selling your Palo Alto home. So here is a great piece of advice.
SELL YOUR PALO ALTO HOME AT A TIME WHEN YOU ARE LEAST LIKELY TO FIND OTHER PALO ALTO HOMES LISTED. THIS WAY YOU WILL HAVE THE LEAST AMOUNT OF COMPETITION AND THEREFORE THE ATTENTION OF THE MOST BUYERS.
The times when there are the fewest new listings competing with the Palo Alto home you want to sell would be:
1. On a holiday week-end
2. In the month of Aug or the second half of December
The number of buyers looking for homes in Palo Alto is always high. If the home you are selling in Palo Alto is priced right and has less competition you are more likely to get a better price and terms.
So, if you sell your Palo Alto home at a time when other Palo Alto sellers are on sidelines, you will have the best chance of getting the best price and terms.
If you have any questions about selling a home in Palo Alto please feel free to contact me.