740 - 748 Sutter Avenue, Palo Alto 94303, a Multi-Family residential property in the Midtown neighborhood, closed escrow 6/2/2010. Property Description:  5 units, all 2/1 townhomes Listing Price: $1,450,000 Sales Price:   $1,635,000 Listing Broker:  John A. Souerbry & Associates Selling Broker:  Alain Pinel Realtors, Palo Alto Days On Market:  16 For buying, selling or managing Silicon Valley investment properties, contact John Souerbry:  john@jsrealproperty.com . 06/02/2010

Thanks to those who sent emails with follow-up questions regarding my blog about California real estate licenses.  One of those questions came from a home buyer who has seen the term "Broker-Associate" used behind an agent's name and wants to know what it means.  Here's the answer. In California, an individual who holds a Broker license may provide real estate services on their own or may contract to work for another broker or a real estate company.  When a broker signs a contract to work for another broker or a real estate company, they often use the title "Broker-Associate" in their advertising to let the world know that they are personally licensed as a broker. Why?  Because getting a broker license is no trivial thing.  In addition to pre-licensing educational requirements that are ... 05/29/2010

One of the best ways to start investing in real estate is to buy small multi-family properties (two to four units).  Whether you intend to occupy one of the units or put tenants in all of them, they offer the opportunity to generate cash flow while establishing yourself as an investor and developing your skills as a manager. There are currently three properties on the market in Palo Alto available for under $1.5M.  All have been on the market at least two months, an indication that the seller may be ready to negotiate.             Downtown - 4 units; $1,450,000; 86 days on market             Midtown - 4 units; $998,000; 71 days on market             Stanford/California Avenue business district - 3 units, $1,070,000; 186 days on market To look at these and other investment property oppor... 05/28/2010

In California, a person must be licensed in order to assist a client with buying, selling, or managing real estate for a fee.  Consumers should verify that their agent is properly licensed.  The California Department of Real Estate has an easy to use license look-up system on their web site, www.dre.ca.gov .  Although the National Association of Realtors® recommends additional qualifications for specialized transactions and property types, a license is the basic governmental requirement for practicing real estate. To obtain a license, applicants must take several real estate courses, pass a written exam, pass a Department of Justice criminal background check, and pay a fee.  Licenses are renewed every four years and license holders are required to take continuing education courses prior... 05/27/2010

Real estate terms can be confusing.  Words that have an understandable and precise dictionary definition in normal use can mean something completely different in the world of real estate.  Terms even vary from state to state.  To make it easier for buyers, sellers, investors, and the just plain curious to navigate the wacky world of real estate, I'm going to begin sharing the meanings of some of the more common words used during real estate sales, management and investment in California. Let's start with:  what is a "listing agent" versus a "selling agent"? The listing agent is selling the property for the seller, so isn't he or she also a selling agent?  Not so in the upside down world of real estate lingo. A listing agent is an agent hired by the seller to "list" his property.  This m... 05/26/2010

Midtown Palo Alto CA is a neighborhood that has been near and dear to my family for over 40 years.  My son's grandmother lived there in the early 1970's and loved to walk to the local ice cream parlor.  Twenty years later we moved to Midtown Palo Alto CA and my son loved to do the same thing. Midtown Palo Alto CA is the area is bound by Oregon Expressway to Loma Verde Avenue, and from Alma Street to Highway 101.  Midtown as shopping, parks and several elementary schools all within walking distance.  All these wonderful amenities are what make Midtown Palo Alto CA a lifestyle neighborhood. Midtown Palo Alto CA has two shopping areas; Midtown Shopping Center, located at Middlefield Road and Colorado Avenue; plus an additional shopping area located at Middlefield Road at Loma Verde Avenue ... 05/24/2010

There are not very many opportunities to buy a home in a new home community in Palo Alto because it is hard to find open land to build on. If you are looking for a brand new home community, Sterling Park in Midtown Palo Alto is one of these rare opportunities. Sterling Park is a master planned community with a total of 96 homes composed of 28 single family homes, 39 Townhomes and 29 Condos with two community parks and a recreational center on site. Development Features: Luxurious interiors with durable fiberglass entry doors and tiled entryways. Gourmet kitchens with GE Profile appliances, granite countertops and euro-style cabinetry. Elegant master suite with generously sized closets, master bath with tiled floor. Built with energy efficiency in mind. The homes come with 90% efficient ... 05/23/2010

The Palo Alto real estate market continued its tightening trend in April 2010. This means higher prices for sellers and a more competitive environment for Palo Alto home buyers.Let's take a look at some of the real estate market trends for April 2010. Median Home Prices in Palo Alto - April 2010 The median price for a home for sale in Palo Alto in April 2010 was $1,499,500. This is down 8% from April 2009. During the same time, the median price for a home sold in April 2010 has increased by 27% to $1,584,000. Notice that the average price of homes sold is actually over $83,000 higher than the average home for sale price. Palo Alto Homes for Sale Supply & Demand - April 2010 The number of homes sold in Palo Alto in April 2010 is up 10% over April 2009. The number of homes under contract ... 05/23/2010

1. Excellent public school system 2. World class university Stanford right here - Visit Cantor Arts Center at Stanford University, then take a leisurely stroll to the glittering facade of the Stanford Memorial Church. Hoover Tower - This 285-foot tower furnishes an outstanding view and houses the Hoover Institution on War, Revolution, and Peace. 3. Lively downtown with many restaurant, entertainment, and shopping options. 4. There are many libraries and parks around the area. 5. Countless Cultural events - Catch a play by the Palo Alto Children's Theater, TheatreWorks or the Palo Alto Players at the Lucie Stern Community Center. Listen to summer jazz, admire the floral displays and, yes, shop at Stanford Shopping Center. Relive Hollywood's Golden Age at Stanford Theatre and marvel at th... 05/23/2010

  I'm happy to announce this completed sale in the Ventura neighborhood of Palo Alto on May 20, 2010 - Purchase:  $435,000 condo, 2 bed/1 bath, laundry, fenced garden Listing broker:  John A. Souerbry & Associates, Palo Alto, CA Selling broker:  Cashin Company Realtors, Los Altos, CA The Palo Alto market changes daily.  To catch a home or investment property that's racing across the night sky like a shooting star, work with a Realtor.® 05/23/2010

There are two forms of agency (client-agent relationship) that buyers and sellers need to be aware of when hiring an agent or considering an offer on their property.  They are dual and multiple agency.  As you can tell by the title of this blog, I'm not a fan of either of these relationships.  For those of you reading this who aren't agents or brokers, you should know that this is a hot topic among real estate professionals and friendly discussions can get a little heated when debating over coffee and bagels.  To be fair, there are some brokers who try hard to make such relationships work, but in my opinion there are laws of nature that will never allow these relationships to fully serve the client properly.  Let me start by defining these relationships:     Multiple agency occurs when ... 05/20/2010

•·         Palo Alto Ca Single  Family Home Market Update 05-17-10 •·         As of today this is the snapshot of the Palo Alto single family home market:   87  Active listings 57  Pending sales Breakdown of Price Points: Under 1 million: 6 Active Listings / 14 Pending Sales 1 to 2 Mil:  47 Active Listings/ 30 Pending Sales 2-3 Million 18 Active listings/ 8 Pending Sales 3+ mil: 15 Active Listings/ 5 Pending Sales What does mean? The market overall is pretty healthy and there is a small increase in inventory.  No change in the gradual decrease in active to pending ratios as the price goes to 3 million. Over 3 million is still weak but getting better with a 3 to ration which is not that bad. However, over 4 million there are 15 listings and the only sales are at 4.2 million with nothing ... 05/17/2010

More Articles & Stats www.SiliconValleyBroker.com The March 2010 Completed Sales Report for Palo Alto Single-Family Homes saw a closing of 27 sales receiving 99.46% of list price. These closings represented a median price of $1,410,000 and an average price of $1,645,685. There were 51 new listings reported reported for March. Total Sales: $44,433,500 The March 2009 Completed Sales Report for Palo Alto Single-Family Homes saw a closing of 24 sales receiving 98.30% of list price. These closings represented a median price of $1,205,000 and an average price of $1,391,409. There were 63 new listings reported reported for March. Total Sales: $32,002,411 Palo Alto VA Hospital March 2010~ Palo Alto Condos/Townhouses had 11 closed sales receiving 97.33% of list price. These closings represented... 05/04/2010

Palo Alto  Single Family Home Market Update 05-03-10 As of today this is the snapshot of the Palo Alto single family home market:   69  Active Listings 65 Pending Sales   Price Point Break Down:   Under 1 Million 5 Active Listings 21 Pending Sales   1 mil to 1.5 mil 25 Active Listings 24 Pending Sales   1.5 to 2 mil 11 Active Listings 24 Pending Sales   2-3 mil 17 Active Listings 9 Pending Sales   3mil + 12 Active Listings 4  Pending Sales     This time last year:   148 Active listings 47  Pending sales   Things have really changed since last year.  There is half the inventory as last year, which goes along with the recent California Association of Realtor Stats saying that in Ca. homes over 1 million last year had a 21 month supply of inventory and now there is a 10 month supply of inv... 05/03/2010

The Southgate neighborhood in Palo Alto was named due to its location at the southern end of the Stanford campus. This neighborhood is prized for its convenient location. It is a location where children can walk to school. Families can walk to shopping and sporting events or to public transportation. Southgate is able to maintain a cozy and quiet atmosphere with very little through traffic. The streets are planned in such a way that you can only access the neighborhood from El Camino and Churchhill, keeping street traffic to a minimum. Homes in the Southgate neighborhood in Palo Alto were mostly built in the 1920s, with a few homes built as late as the 1950s. Most are smaller homes with more than one bath. Many of the homes have since been remodeled and/or expanded, including the additi... 04/27/2010

Palo Alto Real Estate Market - Median Price of Homes Sold vs. Homes for Sale -March 2010 In the month of March, the Palo Alto real estate market saw increases in both the median price for homes for sale and in the median price for homes sold as compared to last year. Median homes for sale price increased 9% over March 2009 and median price for homes sold in Palo Alto for March 2010 ($1,410,000) increased 17% year over year ($1,205,000 - March 09). Palo Alto Real Estate Market - Housing Supply & Demand March 2010 As we move into the spring here in Palo Alto, we continue to see an increasing supply of homes for sale compared to the winter months. Overall, however, housing supply is down 37% over one year ago. During the same time period, demand for homes is has increased 23%. This is cre... 04/27/2010

•·         Palo Alto Ca Single  Family Home Market Update 04-19-10 •·         As of today this is the snapshot of the Palo Alto single family home market:   79  Active listings 51  Pending sales Breakdown of Price Points: Under 1 million: 6 Active Listings / 14 Pending Sales 1 to 1.5 Mil:  31 Active Listings/ 19 Pending Sales 1.5-2 mil: 14  Active Listings/ 8 Pending Sales 2-3 Million 12 Active listings/ 10 Pending Sales 3+ mil: 13 Active Listings/ 3 Pending Sales What does mean? The market overall is pretty healthy. There is virtually no change since my last update on 4/11/10.  Under 1 million is very competitive, 1-2 million is trending seller's market, but most surprisingly, 2-3 million is pretty healthy again this week which I will now declare a trend.  Over 3 million is still anemi... 04/19/2010

An offer was presented orally at an open house in Palo Alto this weekend. It was a good offer, for several reasons. First, it was actually above market value (market value being the price point that buyers are willing to pay for this house in Palo Alto at this time), considering everything the offer involved. The buyers were willing to make the offer through the listing agent. The commission discount or "commission rebate" offered to the seller if the listing agent also represents the buyers, represented a substantial savings to the owners selling their home in Palo Alto. The buyers were also willing to let the sellers remain in the house for two or three months following the close of escrow, as the sellers wished, saving the sellers a move. The monetary savings here is also substantial... 04/13/2010

•·         Palo Alto Ca Single  Family Home Market Update 04-11-10 •·         As of today this is the snapshot of the Palo Alto single family home market:   77  Active listings 46  Pending sales Breakdown of Price Points: Under 1 million: 9 Active Listings / 10 Pending Sales 1 to 1.5 Mil:  28 Active Listings/ 15 Pending Sales 1.5-2 mil: 16 Active Listings/ 8 Pending Sales 2-3 Million 13 Active listings/ 8 Pending Sales 3+ mil: 12 Active Listings/ 3 Pending Sales What does mean? The market overall is pretty healthy. There is virtually no change since my last update on 3/3/10.  Under 1 million is very competitive, 1-2 million is trending seller's market, but most surprisingly, 2-3 million is pretty healthy again this week which I will now declare a trend.  Over 3 million is still anemic a... 04/11/2010

"Dual agency" is a situation in which the listing agent, representing the sellers, also represents the buyers in a transaction. Clients sometimes ask how the same agent can effectively represent both parties to a transaction. Isn't there a conflict of interest? This question is natural because at first glance, dual agency may seem counter-intuitive. So a Palo Alto realtor must be capable of explaining the scenario to those selling homes or involved in the process of a realtor search in Palo Alto or surrounding areas, including Menlo Park, Los Altos and Los Altos Hills. There are several aspects to the answer. An agent with relatively little experience would have difficulty with this. More than 20 years of experience, in my case, has given me a solid understanding of the dynamic. First o... 04/05/2010