Jeff Stricker & Steve Tenbroeck
Alain Pinel
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Welcome

Whether you are a first time buyer or seller, or have been through multiple transactions, you might be surprised by how quickly the real estate market changes in Los Altos, Palo Alto and surrounding communities. You need hard-hitting historical data, current market analysis, and insider experience to stay informed and succeed in these real estate markets.

As a service to their clients, Jeff Stricker and Steve TenBroeck of Alain Pinel Realtors provide regular market analysis and commentary. You are invited to read the entries below, add your comments, ask questions or contact them directly.

September Stays Hot!

The lack of homes for sale continued through September and it remained a “Seller’s Market”. New record lows were set in many local towns while new highs were established for median sales prices. The question in everyone’s mind now is, “How will the economic stalemate and government shutdown impact the local housing market?” Since the housing market changes direction much more slowly than other markets, we’ll have to wait to see how October and November play out.

FOR SELLERS:
Now’s the time. Don’t wait for the inventory of homes for sale to climb.

FOR BUYERS:
Select carefully!  It’s better in the long run to “over pay” for a well-located home with few defects than to accept a property with irremediable issues simply because it seems like a “good deal”.


In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of September for Palo Alto, Los Altos, Los Altos Hills, Menlo Park and Mountain View. You can’t find this level of historical data all in one place anywhere else, so if you have any questions or wish to get more info about your community, don’t hesitate to contact us.

Palo Alto Median Price Read the rest of this entry »

Topics: Commentary, Market Trends, Monthly Snapshots      Comments Off

The Homes for Sale Drought Continues!

August saw a repeated lack of homes for sale. For many reasons, home owners are staying put. The demand for homes greatly outstrips supply and the “Seller’s Market” condition continues. Multiple offers and over-bidding remains the standard for rationally priced properties. Homes on busy streets and homes with odd floor plans have no problem finding buyers in today’s market.

FOR SELLERS:
Now’s the time. Don’t wait and miss this opportunity.

FOR BUYERS:
Select carefully. It’s better in the long run to “over pay” for a well-located home with few defects than to accept a property with irremediable issues because it seems like a “good deal”.


In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of August for Palo Alto, Los Altos, Los Altos Hills, Menlo Park and Mountain View. You can’t find this level of historical data all in one place anywhere else, so if you have any questions or wish to get more info about your community, don’t hesitate to contact us.

Palo Alto Median Price Read the rest of this entry »

Topics: Commentary, Market Trends, Monthly Snapshots      Comments Off

Why Is It A “Hot” Market?

It’s HOT simply because the supply of homes for sale is low and demand for homes is high. Why is demand high? Because jobs are plentiful, interest rates are low, and (local) consumer confidence is bullish. Why is supply low? That’s more complicated.

State and Federal tax policies reward those who remain in their homes. This, coupled with a lack of viable options for seniors, is generating a whole new “aging-in-place” industry: In-home care, “Forever Home” remodeling, health monitoring systems, etc.

In addition, home owners who are contemplating selling their home are not likely to do so when prices are rising.

How long will this dynamic last? It will continue until the next economic shock occurs. In 2008 it was the banking collapse. In 2000 it was the NASDAQ bubble bursting. In 1990 it was the cutback in defense spending.

What will it be this time? We don’t know. What does your crystal ball say?


In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of July for Palo Alto, Los Altos, Los Altos Hills, Menlo Park and Mountain View. You can’t find this level of historical data all in one place anywhere else, so if you have any questions or wish to get more info about your community, don’t hesitate to contact us.

PA-Med-SP---Jul-99-13-fixed-2 Read the rest of this entry »

Topics: Commentary, Market Trends, Monthly Snapshots      Comments Off

Q2 2013 Update: Low Inventory + High Demand = HOT Market!

In the second quarter of 2013 listing of homes for sale were down in all the areas below except for Los Altos where the listings were up slightly from Q2 last year. Median sales prices were up to new highs in all areas except Los Altos Hills. One has to look back to 1999/2000 to see similar percentages of list prices received by sellers and homes selling so quickly (Days on Market).


In the charts below, you’ll find 15 years of data for market activity and median sales price for the Second Quarter for Palo Alto, Los Altos, Los Altos Hills, Menlo Park and Mountain View. You can’t find this level of historical data all in one place anywhere else, so if you have any questions or wish to get more info about your community, don’t hesitate to contact us.

Palo Alto Median Price Read the rest of this entry »

Topics: Commentary, Market Trends, Quarterly Updates      Comments Off

May 2013 Market Snapshot: What Constitutes A “Hot” Real Estate Market?

A hot market is simply one where demand is greater than the supply. In each real estate cycle (between recessions) the number of homes for sale has been decreasing in all of the high demand areas.

Compare the current number of homes for sale in Palo Alto, for example, to the number of homes for sale during the previous market peaks of 2000 and 2007. On May 31 of 2000 there were 94 homes for sale. On May 31 of 2007 there were 57 homes for sale. On May 31 of 2013 there were just 35 homes for sale.

Owners in our area have fewer reasons and less motivation to sell than ever before. We do not see this trend changing anytime soon. The supply of homes for sale increases sharply during recessions – but during the rest of the market cycle it is very hot our area!


In the charts below, you’ll find 15 years of data for market activity and median sales price for the month of April for Palo Alto, Los Altos, Los Altos Hills, Menlo Park and Mountain View. You can’t find this level of historical data all in one place anywhere else, so if you have any questions or wish to get more info about your community, don’t hesitate to contact us.

Palo Alto Median Price Read the rest of this entry »

Topics: Commentary, Market Trends, Monthly Snapshots      Comments Off