Mountain View, CA Real Estate News

By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Located in the heart of Silicon Valley, the City of Mountain View is centrally located and has a vibrant downtown, excellent shopping, and a growing job market. Like everywhere in California, a few bank-owned foreclosure properties (REO) and potential short sale (SS) properties occasionally come on the market in Mountain View.  Although home prices in this area are generally high, deals can be found.  Here are bank-owned and short sale homes offered for sale as of June 20, 2011.  See any you like?  Let me send you more information and then let's go take a look at them! Type Bed/Bath Price Square Feet Single family, SS 3/2 $639,000 1,340 Condo, REO 3/2.5 $579,000 1,690 Condo, REO 2/2.5 $479,900 1,113 Condo, SS 3/2.5 $475,000 1,611 Condo, SS 2/2 $449,950 1,248 Condo, SS 3/2 $449,000 1,200...
Comments 1
By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
Bank of America has made great strides recently in processing short sales.  For many agents they have gone from being the least favorite to the most favorite bank to work with.  They have managed to do this in part by switching to an online documentation system for short sales, called Equator, but I also think it is a corporate decision to work out an orderly way to deal with defaulting homeowners. B of A has recently instituted a new program called the Co-operative Short sale Program.  The gist of this program is to approve a short sale before the home is listed.  The bank reviews the homeowners financial to see if they qualify for a short sale, then lets them know what price they are willing to accept.  It is similar to the government HAFA short sale program but is primarily for homeo...
Comments 4
By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
  How is a Mountain View Probate Sale Different From a Regular Sale   A probate sale is not the same as a regular sale,  but unless court confirmation is required the differences are not that great. It is a world away from a short sale or foreclosure.   In a probate sale, the owner of a property has passed away and the home is being sold to settle an estate.  The owner may have had a will, or may not have had a will, but definitely did not put the house in personal or family trust.  The seller of the house is the personal representative of the deceased and is charged with disposing of the assets of the estate to be distributed to the heirs.  The personal representative can be anyone the owner requested if their was a will, a child or other relative, a trust department from a bank, a pro...
Comments 5
By Francis Rolland, - Since 1985
(Coldwell Banker)
The real price of buying is the cost of buying.Will prices continue to fall? Should I buy now? While price is always one of the major concerns when buying a property, cost and affordability should be at the forefront of your considerations as a buyer. That means you have to take into account what your monthly payment will be, considering not only the price of the home but also the interest rate of your mortgage. Waiting for prices to bottom out while rates are increasing can wind up costing a lot more. So the price of the property is, in a way, not the thing to focus on: if interest rates are low enough, the home that will make you happy could be a lot lower in price than you'd think. - I know, I know, no one wants to over pay for a property; but this is an other matter - and so "relati...
Comments 1
By Francis Rolland, - Since 1985
(Coldwell Banker)
Market trends -  Mountain View:Following some of my last blogs on average prices in Mountain View and Los Altos, someone asked me to show the evolution of $ price per square foot. So, how is "Google's" City doing in that respect?    As always with figures and statistics one has to take the information with a grain of salt, or a good dose of caution. The figures can be deceiving. The price per square foot is a good measure of the activity, as part of a combination of measures. It is shown below for the market of condominiums and townhouses, for the past 3 years; it is showing a lower value as we go into 2011:...and for the house market, it shows a very healthy trend: But this is one element of a big picture. In this case it is good to remember that as a property is larger, t...
Comments 0
By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Located in the heart of Silicon Valley, the City of Mountain View is centrally located and has a vibrant downtown, excellent shopping, and a growing job market. Like everywhere in California, a few bank-owned foreclosure properties (REO) and potential short sale (SS) properties occasionally come on the market in Mountain View.  Although home prices in this area are generally high, deals can be found.  Here are bank-owned and short sale single family properties offered for sale under $2,000,000 as of May 8, 2011.  See any you like?  Let me send you more information and then let's go take a look at them! Type Bed/Bath Price Square Feet Single family, SS 3/2.5 $888.000 1,910 Single family, SS 4/3.5 $799,000 2,465 Single family, SS 2/1 $630,000 769   There are also over two dozen condo's on...
Comments 2
By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
While out looking for homes for a client in Mountain View I previewed one at 847 Runningwood Circle.  It is a 3 bedroom, 2 bath nicely remodeled home in the planned development Heatherwood.  It is a single family home, no common walls, 1497 square feet on a 6900 square foot lot built in 1977. It is listed and owned by Victor Bell of Elm Lane Properties and is listed for $859,000.  It is a great way to have a single family home with all the amenities of a townhome and get Huff Elementary for under $875,000.  I was impressed. Marcy Moyer Keller Williams Realty www.marcymoyer.com marcy@marcymoyer.com 650-619-9285 DRE  01191194    
Comments 0
By Francis Rolland, - Since 1985
(Coldwell Banker)
Home prices are pretty high in the Silicon Valley.  Here, where sometimes wages are comfortable and disposable income or savings pretty low, it is good to remember that it is still possible to purchase a home with as little as 3.5% downpayment.  How is it possible? with an FHA loan, which is an (almost) normal loan, guaranteed by the Federal Housing Administration. How does it work? Well it is fairly easy in fact - there are few limitations: the buyer does not have to be a first-time home buyer, there is no limitation of income for the buyer, and the property purchased can be pretty much any price.  The loan amount is limited to about $730,000. So I like to remind my clients of this option if they have little savings or family help for the downpayment, or if their salary is modest: they...
Comments 1
By Francis Rolland, - Since 1985
(Coldwell Banker)
To piggy back on my last blog, it is definitely interesting to research and compare how different areas within Mountain View (or any City for that matter) may have fared in the past 4 years, whether in the condominium market or the house market.  But how did houses fare vs condominiums?  It turns out that they did about the same:  from the average price in 2006 to the average price in 2010, condominiums lost 4.4% in value, while houses lost 3.4%  - a close contest.  The only thing one can see is that the condominium market went down faster than the house market in 2008 - in average figures... not in median figures. It mirrors fairly closely what the County of Santa Clara experienced.  Are you curious about your area?  Let me know I am curious too.FrancisSilicon Valley real estateA link ...
Comments 0
By Francis Rolland, - Since 1985
(Coldwell Banker)
How do you search for a home in Mountain View ?...There are plenty of search engines that will help you search for a home online, (i.e. see at the end of this post), but the first step is often to know where in town you would like to be ideally. Most areas in Mountain View are associated with a name, and there is an app for that - I mean a map for that, in the "Neighborhoods" publication of the Mountain View Voice. It includes areas like: Waverly Park, Cuesta Park, Blossom Valley, Gemello Park, The Crossings, Old Mountain View, Sylvan Park, Monta Loma, Rex Manor, Whisman Station, ... and a few others, that I will be glad to send you if you want to know them all, and their boundaries.  Just send me a note. MLS areas, used by real estate agents, function somewhat in the same manner, so th...
Comments 0
By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
California has a lot of disclosure laws for the protection of all parties in a real estate transaction, particularly buyers. There are buyers who do not want to buy a home where there has been a death on the property, and there is a disclosure obligation to disclose if there has been a death in recent years.  This works very well if the seller has to fill out the Seller's Supplemental Disclosure or The Seller's Property Questionnaire and Supplemental and Contractual Disclosure forms. But many trust properties are exempt from those disclosures, and many of those properties would be more likely to have had a recent death.  So what do you do if you want to know if there has been a death on a Mountain View home that is exempt from seller's disclosures? The answer is really simple, ASK THE S...
Comments 1
By Francis Rolland, - Since 1985
(Coldwell Banker)
For Single family residences: California median home price: February 2011: $271,320 (Source: C.A.R.)  California highest median home price by region/county February 2011: Marin $632,580 (Source: C.A.R.)  California lowest median home price by region/county February 2011: Merced $117,270 (Source: C.A.R.)   Santa Clara County median home price in March: $ 567,500, Mountain View median home price in March:        $ 880,000 Los Altos median home price in March:                $ 1,595,500 Palo Alto median home price in March:                $ 1,564,000 (A lot) More Cities and details at:   Santa Clara County  and San Mateo County   Thanks for your interest! Francis Search the MLS from the comfort of your home.
Comments 0
By Carla Dimond, (Silicon Valley)
(CATARRA)
29 single family homes were listed for sale in Mountain View in February.  Of those 29 homes listed in February, 12 are still available for sale, 3 were sold, 13 are under contract and one was canceled. Three of the 29 homes listed in February were short sales. * The mythical average house listed in Mountain View was listed for 967K in February and has 3 bedrooms 2 baths. This mythical average house is a little over 1500 sq ft on a 7000 sq ft lot.   13 homes were sold in February in Mountain View and on average they took 91 days to sell. However, one house took 748 days to sell which skewed the average number of days.  Are you curious about a house that takes 748 days to find a new owner? The mythical average house sold in Mountain View in February is surprisingly close to the mythical ...
Comments 2
By Carla Dimond, (Silicon Valley)
(CATARRA)
Mountain View, CA Single Family Home Real Estate December 2010* As is typical in December very few properties changed hands in December. Eleven Homes were put on the market in December 2010.  The highest priced home was listed at a little over 1.7M and the lowest priced home was listed at 525K and it was the only short sale. Twenty nine homes were sold in December 2010. The highest list price was 1.85M and the house sold for 1.7M. The lowest priced home was listed for 459,900 and sold for list price.   The average list price was 926,165 and the average sold price was 903,240 or  on average of 98% of list price.  Of the homes sold, three homes were bank owned and two homes were short sales. The average number days on the market was 65 days. Six homes went under contract in December 2010 ...
Comments 2
By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Mountain View and Sunnyvale are located in the heart of Silicon Valley, convenient to shopping, airports, and most of the major high tech business parks.  Prices for multi-family properties (5 units or more) have dropped significantly over the past three years, creating opportunity for both new and experienced residential investors to add multi-family properties to their portfolio. Here are multi-family properties currently on the market in Mountain View and Sunnyvale for $2M and under: Type Units Price Unit Mix Multi-Family 12 $1,750,000 2/1x4; 1/1x8 Multi-Family 12 $1,740,000 1/1x12 Multi-Family 8 $1,588,000 2/1x8 Multi-Family 5 $1,498,000 2/1x2; 1/1x2; Sx1 Multi-Family 6 $1,295,000 SFRx1; Sx5 Multi-Family 7 $1,080,000 3/1x1; 2/1x1; 1/1x5 Multi-Family 6 $950,000 1/1x6 Multi-Family 6 $...
Comments 0
By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
  Mountain View Ca. Short Sale and Foreclosure Update 12/4/2010 Are you waiting for a distressed property for sale in Mountain View so you can snatch a bargain, or are just curious about them? Well, there are a few of these types of sales, but not that many. Short sales, as in other places, are more common than foreclosures. Most banks are at least giving homeowners the option to try to do a loan modification or short sale before foreclosing. These options do not always work, but they are worth a try. Active Short Sale Listings:  20  Pending short sale listings:  30 Closed Short Sales since Jan 1, 2010:  23   Foreclosures: Active listings:  8 Pending:   9 Closed since 1/1/10:  18   There have been 470 sales of homes and condos in Mountain View  since Jan 1, 2010 so the percentage of di...
Comments 3
Mountain View, CA Condo/Townhouse Real Estate Activity October 2010 With October ending on Halloween, was the townhouse/condo real estate activity a trick or a treat in Mountain View, CA? 32 townhouses/condos came on the market in October 2010, the highest priced home was 848.5K and the lowest priced home was 190K.  5 are bank owned and 5 are short sales. 17 of the homes were listed for over 500K and 15 were listed for less than 500K. Of the 32 homes that came on the market in October 2010, 24 homes are still currently available.   The current inventory in Mountain View, CA is 99 homes.  The price range for these homes is 848.5K at the high end and 190K at the low end.  21 homes are short sales and 9 homes are bank owned.  33 are listed above 500K and 66 are listed below 500K. 34 homes ...
Comments 1
By Carla Dimond, (Silicon Valley)
(CATARRA)
With October ending on Halloween, was the real estate activity a trick or a treat in Mountain View, CA? 31 Single family homes came on the market in October 2010, the highest priced home was 1.699M and the lowest priced  home was 435K, 12 homes were listed over a 1 M,  16 homes or 50% of the inventory was between 1M and 500K and 3 homes were listed under 500K.  2 homes listed were bank owned.  Of the 31 homes that came on the market in October 2010, 18 homes are still currently available. The current inventory in Mountain View, CA is 54 homes.  The price range for these homes is 1.86M at the high end and 435K at the low end.  2 homes are short sales and 2 homes are bank owned.  34 are listed above 1 M and 20 are listed below 1 M. 29 homes were scheduled to close escrow in October 2010 a...
Comments 3
Mountain View CA Single Family Home Real Estate Activty for September 2010 In the month of September 2010, 32 homes were put on the market in Mountain View, CA.  The price range for these homes was $1,658,800 to $550,000  and only one home was a short sale.  Of those 32 homes, 14 went under contract in September and 3 were sold in September 2010.  Which means that more than 50% of the homes that went on the market in September were under contract or sold in less than 30 days. In the month of September 2010, 23 homes were sold in Mountain View, CA.  The price range was $1,493,000 to $599,000 and only one home was a short sale. The average list price was $961,000 and the average sale price was $954,035.  The average selling price was 99% of asking price. The average number of days on mark...
Comments 4
By Carla Dimond, (Silicon Valley)
(CATARRA)
We do not get many signs it is Autumn in Mountain View, CA but I think this provides proof we get some I walked down to Castro Street (our downtown area) in Mountain View, CA the other night with my son and I saw this beautiful tree in full color.   We don't have many trees around here that change colors so it is a treat when you see one.  Autumn is my favorite season and we do not get many reminders of Autumn in CA so I really cherish the few signs of the season I do see.
Comments 4