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General Area in Palo Alto : Real Estate Advice

  • All334
  • Local Info27
  • Home Buying162
  • Home Selling21
  • Market Conditions42

Activity 11
Sun Feb 16, 2014
Grace Hanamoto answered:
You can't since ownership "type" is recorded with the property. Although the unit is detached, because the property title is defined by the city prior to construction, it cannot be changed to something it's not by building code. Most often a detached home is called a "condo" when it is constructed on a smaller than allowed lot size by building codes of the city. Often the city also allows a larger than allowed home to be built on the property by using the condominium definition. To allow affordable and denser single family homes to be built, the city allows the homes to be called condos with the perimeter of the defined condo being the exterior lot lines of the property. This title would apply to all homes within the community, so neither you nor the other owners can change title without removing some homes and increasing lot sizes to at least 5500 SF and often decreasing square footage inside the home, in most cases. Sorry, but this is not going to be allowed. ... more
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Wed Jun 27, 2012
Erica Glessing answered:
This is a new listing! Love this area! FYI!

General Property Information
1500 block CHANNING AVENUE, Palo Alto 94303 Status: Active MLS #: 81223394
Class: Single Family Residential Orig Price: $1,425,000 List: 06/21/2012
Area: Green Gables (238) List Price: $1,425,000 Original: 06/21/2012
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Thu May 3, 2012
John Souerbry answered:
I work with many rentals in Palo Alto, both as a property manager and a broker.
In most areas of the city, rents have kept pace with rapidly-increasing prices for residential property. Single family homes are often rented based upon bids rather than advertised rent rates and apartment rents are approaching monthly ownership costs for condos.
The forcast for residential property values is very strong over the next 24 to 48 months due to expanding employment opportunities throughout Silicon Valley. Despite the difficult development process in the City of Palo Alto, builders are still anxious to work in town, mostly on urban infill projects for rentals and re-sale (condos and small lot single family).
See my current Trulia listing - 595 Maybell. This 2.46 acre lot is being sold for residential development and we have multiple offers at or above the $16M listing price (seller to pick an offer this week).
Palo Alto can be an excellent investment target, given the right property and purchase terms.
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Fri Aug 27, 2010
Marcy Moyer answered:
Southgate is a little different because the section of El Camino that borders it is Stanford, not Ernie's Liquor Store. Also, there are larger and more charming homes, and it is close to Calif. Ave, Town and Country, and downtown, none of which are true for Ventura. Still, homes along the train track are going to be a tough sell until the high speed rail issue is settled. That being said, Ventura is a great place to get a home under 900K in PA.

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Mon Mar 29, 2010
Mary Runkel Chacon answered:
It will be difficult to find what your looking for in Palo Alto. Although, not impossible...fixer upper. For example, one just came on the market today in PA, 3 bedroom 1 bath, 1060 sq ft asking price $750k. I haven't seen it but I'm sure it's a fixer-upper. Menlo Park in the Willows there are 3 house on the market under $900k. Redwood City & Mt. View you will have more options.

Good Luck and let me know if I can help!! Mary
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Sun Oct 25, 2009
Grace Hanamoto answered:
Hello Marcy and thanks for you note.

I am speaking only from personal experience that my clients have all (for the past four years) found the best bargains in Palo Alto and surrounding areas in early January. Course, that's just my experience. However, Jason, I will say that all my buyers were still actively looking in December and put in their offers in January to close by the end of January or the first part of February. So, Marcy is correct that you should still be looking at the end of the year.

Grace Morioka, SRES, E-Pro
Area Pro Realty
Tel 408-426-1616
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Tue Aug 25, 2009
Steven answered:
I agree with Nova. I've charted single family homes prices in these and other south bay cities using data from the past 15-20 years, and they stay fairly consistent relative to one another. I see a warning sign in Palo Alto though. It's priced higher relative to its peers the past few years. I suspect this will revert back to the average ... i.e. I expect Palo Alto to fall more than its peers. ... more
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Wed Jul 23, 2008
David Blockhus answered:
You might look at the web sites of the local newspapers like the Palo Alto daily and the los altos town crier. Bay rentals is a local company that works mainly with local rentals (homes) ... more
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Fri May 9, 2008
John Souerbry answered:
In the Barron Park area, about 1 mile south of Page Mill Road on El Camino Real, you can find 1 bedroom apartments for $900 - $1200 and 2 bedrooms for $1450 - $1650.
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Fri May 9, 2008
John Souerbry answered:
I work with many Palo Alto investors who don't list their property on the MLS, they prefer to do private sales and will use an attorney to administrate the sale rather than a broker (I'm a broker and consult for a fee in these situations, but don't list the property for the client or negotiate the sale). They might put their own For Sale sign on the property or sell it through a network of buyers they already know. If you are truly interested in the property, call the seller or send them a letter and ask for all the details that you would normally see on an MLS printout. ... more
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Tue Sep 25, 2007
Denise Stuart answered:
I thought they gave you a list of participating renters?
This may have been years ago though, my Mom rents three homes through housing but they are all in San Jose, sorry if this was no help
Good Luck
Denise Stuart
Coldwell Banker
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