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.
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
Peninsula Living Business Page
That is amazing information.
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!
Hey Lottie,
Richard and I will be at San Jose Raincamp.
Let's try to meet while we're there.
Hi John -- I love getting that kind of information out; sometimes people worry needlessly. Hope your market has bright spots, too.
Richard, I'm glad your client understands his market. It truly is local, and Palo Alto townhouses have faired better than most.
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!
Hello Lottie
Thank you for the great wealth of information
and update on your area,
Wishing you the best!
Lottie....your market rallied nicely.....look at those prices rising....that's great.
Good morning Vic. Thanks for stopping by. Wishing you well also.
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.
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!
Thanks for the nice words and vote of confidence, Nevin.
You really did buck the system up there, Lottie. Only a 5% drop. Wow.
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.