How's the condo market in Palo Alto, California 94301?

How's the condo market in Palo Alto, California 94301?

Last week I did an analysis of the condominium/townhouse market in downtown Palo Alto, California for a client. This particular client has owned her Palo Alto condo for many years, and her building is a popular one, in an excellent downtown location. She was concerned about the steep price declines seen all over the country, including California, and was afraid her Palo Alto property might have declined substantially.

I was happy to have the following information to share with her, to let her know that prices for her type of property have declined only about 5% from their high point in 2007! And isn't it nice to see that 2010 prices are rising again?

She is relieved to know she's likely to have the funds she needs to move to the retirement center of her choice.

chart of values of downtown Palo Alto CA condos

If you have similar questions about your area, the spot you call home in the mid-Peninsula or Silicon Valley, I'm here to help.



--- Come for a visit; Stay for a lifetime!

Lottie Kendall, Realtor®

Compass

CA DRE#10215160; 650-465-4547

Lottie@LottieKendall.com

www.LottieKendall.com

Peninsula Living Business Page

www.SFCondosForMe.com

 

 

Comment balloon 14 commentsLottie Kendall • September 20 2010 12:52AM

Comments

That is amazing information.

Posted by John Cunningham, Helping Phoenix Sellers and Buyers find each other (eXp Realty) about 9 years ago

Wow that is amazing.  I have a client that owns property in the area and he was sharing similar information.  Wishing you all the best.  Cheers!

Posted by Richard Ruggaber, California Real Estate - (818) 422-5035 (Metro Life Homes) about 9 years ago

Hey Lottie,

Richard and I will be at San Jose Raincamp.

Let's try to meet while we're there.

Posted by Ralph Gorgoglione, Hawaii and California Real Estate (310) 497-9407 (Maui Life Homes / Metro Life Homes) about 9 years ago

Hi John -- I love getting that kind of information out; sometimes people worry needlessly. Hope your market has bright spots, too.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) about 9 years ago

Richard, I'm glad your client understands his market. It truly is local, and Palo Alto townhouses have faired better than most.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) about 9 years ago

Hi Ralph, I'll look for you and Richard at Rain Camp--glad you'll be here. I haven't been to one since SF back in December--I'm ready!

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) about 9 years ago

 

Hello Lottie

Thank you for the great wealth of information

and update on your area,

Wishing you the best!

Posted by Vick The Realtor . (Olympus Executive Realty INC.) about 9 years ago

Lottie....your market rallied nicely.....look at those prices rising....that's great.

Posted by Barbara Todaro, Marketing Agent for The Todaro Team (RE/MAX Executive Realty ) about 9 years ago

Good morning Vic. Thanks for stopping by. Wishing you well also.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) about 9 years ago

Hi Barbara, Palo Alto is a amazingly strong area and holds its values well. It's proximity to Stanford University is one reason, excellent schools and community facilities another. I found this interesting and am pulling similar statistics for other specific neighborhoods.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) about 9 years ago

Lottie - I can't think of anyone better than you to help with people's real estate needs in the mid peninsula or silicon valley areas!  You always provide timely and helpful information to you readers.  Nice work!

Posted by Nevin Williams, Senior Mortgage Advisor (Fairway Independent Mortgage Corporation) about 9 years ago

Thanks for the nice words and vote of confidence, Nevin.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) about 9 years ago

You really did buck the system up there, Lottie.  Only a 5% drop.  Wow.

Posted by Jane Peters, Los Angeles real estate concierge services (Home Jane Realty) about 9 years ago

Hi Jane -- Palo Alto is a market unto itself. I'll be doing similar analyses for other specific market segments for some of my active and down-the-road clients and will remember to post them. It will be interesting to see how they compare with the Palo Alto condos.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) about 9 years ago

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