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Palo Alto CA has outstanding home appreciation rates compared to other communities, even in the generally excellent cities of the San Francisco Bay Area. It is by far my favorite city to for purchasing and listing homes for sale. Why? A few years after my clients have purchased their homes, they always comment something like, “We would never be able to afford this home now.” Home Sellers comment “Even I didn’t think my home was worth so much in so little time…” For more detailed statistical information on Palo Alto area home prices go to the Home Appreciation section of this website. All cities in Santa Clara County and San Mateo County have their own statistical reports. However, Palo Alto also has the most expensive property PRICES per square foot and per square foot of lot size. Palo Alto’s square foot prices for both homes and lots frequently exceed those in the very exclusive community of Atherton CA. In other words, Palo Alto is astonishingly expensive, and just a few miles away in San Carlos and Belmont, the prices are far more reasonable. More >>

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I interviewed four successful Real Estate flippers in the last month, and was surprised at how they all operate based on more or less the same “Real Estate Flipping Rules“. These flippers were working in the Greater Palo Alto communities of Palo Alto, Los Altos, Mountain View, Menlo Park, Sunnyvale and San Jose California, and typically completed their projects in 4-12 weeks. All had at least two “value added” skill sets including the following: Real Estate license and marketing expertise, contractor’s license, ability to make repairs and do simple tasks such as paint or tile the property, staging skills, furniture and accessories, and in some cases, a mortgage broker license. One person was the designated “interior designer”, and spent considerable time and effort in selecting and sourcing attractive materials at reasonable prices. All partnerships involved value added skill sets, and no partnerships had a partner that just brought money to the table. Successful flipper partnerships split costs, risks and value added skill sets. All flippers staged their properties, most with their own staging furniture and accessories. More >>

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A pristine Eichler Home for sale came onto the market in Palo Atlo’s Greenmeadow neighborhood this week. MLS # 772403. The 1648 Sq ft home of 3 bedrooms and 2 bathrooms is located at 4072 Scripps Avenue is on a large (by Palo Alto Real Estate standards) 7045 sq ft lot (per co. assessor) in Palo Alto’s Greenmeadow neighborhood. More >>

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Mortgage Rate Report For January 4, 2008

Rates on a 30 year mortgage fell this week, to 5.57% from 5.59% one month prior.

The average rate on a 15 year mortgage slipped as well, to 5.11% from 5.16% one month prior. More >>