Who Is Selling In Palo Alto,Ca?

By
Real Estate Agent with eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales B.R.E. 01191194

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 would be interesting to see as best I can, who is selling.  I have broken the listings up into over 2 million and under 2 million for the asking price and put the listings into the following categories:

 

 

Over 2 Million:

 

•10    New construction

 

•5        Vacant

 

•7        Owner occupied

 

•1        Short Sale (this is also new construction but I put it in short sale)

 

•1        Rental

 

•1        to be built

 

      0   Bank owned

 

 

 

 

 

Under 2 Million:

 

•10    New construction

 

•14    Vacant

 

•17    Owner occupied

 

•0        Short Sale

 

•1        Bank Owned

 

   5 Rentals

 

1   Stanford property

 

 

So what does this mean?  Quite frankly I am not entirely sure, but I believe that new and vacant properties are likely to have more flexibility in pricing than owner occupied homes.  The one big exception to that rule would be short sales, but as you can see there is only 1 in Palo Alto.  There is a much higher percentage of new and vacant homes in the listings over 2 million, so maybe it means there is more room for prices to drop in this segment.  We'll see.  I will keep you updated about who is selling over the next few months and how that may relate to what the market is doing.

 

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

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Marcy Moyer eXp Realty of California  Specializing in Probate and Trust Sales, and Rental Investment Properties

 

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California Santa Clara County Palo Alto
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