Los Altos Real Estate Market Update for December 2009
Posted Under: Market Conditions in Los
Altos | January 21, 2010 2:49 PM | 444 views | No comments
According to MLS Listings Inc. data, 25 single family homes closed escrow in
December within the Los Altos zip codes of 94024 and 94022. This is up from 10
homes sales last year and 19 home sales in 2007.
The median list price of single family homes for December 2007 as compared to December 2009 dropped 13% from $2,150,000 to $1,869,000. The median sales price dropped 10% from $1,750,000 to $1,582,895.
Finally, the list price to sale price ratio for the month of December 2009 is 96.07%.
Our market continues to favor buyers, especially in the higher price points (half the homes that closed escrow in Los Altos in December sold at or below $1,500,000.). Fortunately, prices are firming up a little and sales are up.
Could it be that we are starting to see a little real estate rebound locally? I think our real estate market is still slightly Bearish but the statistics indicate that the market does appear to be getting a little more active.
Click on the link below for a 20 page summary of Los Altos real estate market statistics for the month of December 2009 (information provided by Clarus MarketMetrics®).
Los Altos Real Estate Market Update for December 2009
The median list price of single family homes for December 2007 as compared to December 2009 dropped 13% from $2,150,000 to $1,869,000. The median sales price dropped 10% from $1,750,000 to $1,582,895.
Finally, the list price to sale price ratio for the month of December 2009 is 96.07%.
Our market continues to favor buyers, especially in the higher price points (half the homes that closed escrow in Los Altos in December sold at or below $1,500,000.). Fortunately, prices are firming up a little and sales are up.
Could it be that we are starting to see a little real estate rebound locally? I think our real estate market is still slightly Bearish but the statistics indicate that the market does appear to be getting a little more active.
Click on the link below for a 20 page summary of Los Altos real estate market statistics for the month of December 2009 (information provided by Clarus MarketMetrics®).
Los Altos Real Estate Market Update for December 2009
Realtors And Their Suitors
Posted Under: Market Conditions in Los
Altos | January 21, 2010 2:46 PM | 461 views | 1 comment
It's the start of a new decade, a new year, and a new month. It is also the
start of the 2010 dating season between the managers of our local real estate
companies and our local real estate agents!
Agents who had exemplary home sales in 2009 are being courted by competing brokerage houses. Managers are looking to recruit agents who will make their office more profitable.
The recruiting process is like dating and usually begins with a phone call or an e-mail. The first "in-person" meeting is short and usually occurs at a public location like Peets, Starbucks, or the Main Street Cafe. Note, a short casual meeting is preferred because if the agent doesn't like the manager and/or the company, he/she can leave sooner!
If the conversation is good and it appears that there might be some chemistry, the obvious next step is a private tour of the office. This gives the manager the opportunity to show off his office's assets....the computers, the conference rooms, the support staff and lastly, the desk and/or private office the perspective agent will get.
Lastly, if the relationship is consummated, it is usually behind closed doors. This is where commission splits, technology fees and transferring one's real estate license are discussed.
I would venture to guess that 2009 was a down year for most agents so it will be interesting to see the results of this year's dating season!
Agents who had exemplary home sales in 2009 are being courted by competing brokerage houses. Managers are looking to recruit agents who will make their office more profitable.
The recruiting process is like dating and usually begins with a phone call or an e-mail. The first "in-person" meeting is short and usually occurs at a public location like Peets, Starbucks, or the Main Street Cafe. Note, a short casual meeting is preferred because if the agent doesn't like the manager and/or the company, he/she can leave sooner!
If the conversation is good and it appears that there might be some chemistry, the obvious next step is a private tour of the office. This gives the manager the opportunity to show off his office's assets....the computers, the conference rooms, the support staff and lastly, the desk and/or private office the perspective agent will get.
Lastly, if the relationship is consummated, it is usually behind closed doors. This is where commission splits, technology fees and transferring one's real estate license are discussed.
I would venture to guess that 2009 was a down year for most agents so it will be interesting to see the results of this year's dating season!
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