Good News & More Good News

Good News #1 … 2010 is shaping up to be a banner year for real estate in Los Altos.  Comparing the first six months of 2009 with the same time period for 2010, there were 58% more homes sold.  Additionally, we saw an increase in the sales prices of comparative homes year-over-year.

Interestingly, however, the average “days on market” for a home has increased to 87 days.  That is a significant increase for homes which last year were sold in less than 60 days.  So, what gives?

Clearly, lenders are taking a slightly longer to work through the average transaction.  But it’s still feasible to close a transaction in 30-45 days.  Anticipating market demand, for any one home, is still an imperfect science.  However, we have been seeing well priced homes snapped up without dely.

Good News #2 … our last two listing sold in less than a week, and we are confident we can achieve similar results for you.  How did we do it?  We put together an effective plan, executed on that plan in partnership with our clients, and developed an outreach campaign to attract the maximum number of agents and interested buyers.

In all, over 230 Real Estate Agents stop by these two homes on Broker Tour when they first came on the market, in sequential weeks.  Buyer traffic through the properties was consistent from the time 465 Benvenue Ave & 595 Los Altos Ave hit the market.  An average of 270 potential buyers visited each home through open house, while even more buyers came by via private showings.

So, the market remains strong, but inventory is relatively low.  There are a number of buyers looking to move into Los Altos, but they are strategically examining the available options.  With a strong real estate team in place, a seller or buyer could have a tactical advantage, if they utilize the right tools for today’s market.

If you are looking to move into Los Altos, or simply move across town, we are confident that we can help you.  Call us today at 650-823-1434.  We would love the opportunity to earn your business.

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