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Posts Tagged ‘house’

7 homes closed escrow in the last 30 days in Los Altos Hills, California. The median sale price was $2,575,000.  The average home size was 3,369 square feet on 1.25 acres.  This is information from the MLS – non MLS sales are not reflected in this data.

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Los Altos Real estate update for 5/20/11 from the multiple listing service.

Total Active single family home listings – 67

Total under contract (pending) – 38

Sold (Closed) in the last 30 days – 27.  Of those sold the average square footage was 2,637 with an average lot size of 12,887 and an average sale price of $1,837,570.
The average age of those homes is 42 years old.   Multiple offers are being received on some homes.

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The statistics show that closed sales are strong in October and November  – most properties closed in those months were listed in September and October.  Even December can be a strong month for closed sales (meaning house was marketed in September October November).  January is typically a slower month – as people are focused on other things in December.  These statistics are based on Los Altos and Los Altos Hills market activity. 

The graph shows the level of competition (buyers comparing homes to eachother) in the real estate market and highlights the critical importance of hiring the right agent and pricing the property based on its location and condition.  More at www.BergmanReport.com

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Click on the following link to see what may be the kitchen of the future – creates almost a multipurpose room when the kitchen is stored.

http://bulthaup.com/bulthaup/internet/en/home.nsf/contentview/4EE1ABDA308BCD2BC12574E200291320

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Intero Real Estate’s FREE e-Waste Recycling Day!

2.5 million tons of e-Waste is created each year – 82% of it ends up in landfills unrecycled

Help us change this! Tell your  Family, Friends and Co-workers to Bring their e-Waste to Intero on…

Saturday, June 19, 2010   9:00 — 3:00 pm

Intero Real Estate Services, 496 First St., Los Altos

We take all computer & electronic equipment including:

*Desktops, laptops & PDAs                        *Mice and keyboards

*Monitors  & televisions                         *Stereos, radios & players

*Printers, copy & fax machines      *VCRs, DVD players, etc.

*Computer systems (we erase HDs) *Telephones & cell phones

We do not accept freezers, ACs, batteries or anything with motor oil.

Visit:  www.EarthCareRecycling.com for a complete list of acceptable items.

Any proceeds will benefit the Intero Foundation, funding grants to children’s charities in our communities

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Interested in knowing some of the projects and when they are scheduled for downtown Los Altos.  The city has created a basic webpage showing the areas of public works construction with approximate construction schedules.

City of Los Altos Downtown Projects

It shows public works projects.  If you are looking for private works projects email me at David@DavidBergman.com

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Distressed homeowners no longer have to pay California state income tax on debt forgiven in a short sale, foreclosure, or loan modification.  Enacted into law yesterday, Senate Bill 401 generally aligns California’s tax treatment of mortgage debt relief income with federal law.  For debt forgiven on a loan secured by a “qualified principal residence,” borrowers will now be exempt from both federal and state income tax consequences.  The existing federal exemption is for indebtedness up to $2 million, whereas the new California exemption is for indebtedness up to $800,000 and forgiven debt up to $500,000.

“Qualified principal residence” indebtedness is defined as debt incurred in acquiring, constructing, or substantially improving a principal residence.  It includes both first and second trust deeds.  It also includes a refinance loan to the extent the funds were used to payoff a previous loan that would have qualified.

The tax breaks apply to debts discharged from 2009 through 2012.  Californians who have already filed their 2009 tax returns may claim the exemption by filing a Form 540X amendment.
 
Taxpayers who do not qualify for the above exemptions (e.g., second home or rental property) may nevertheless be exempt under other provisions.  Most notably, taxpayers who are bankrupt are exempt from debt relief income tax.  Also, taxpayers who are insolvent are exempt from debt relief income tax to the extent their current liabilities exceed current assets.

For more information about mortgage forgiveness tax consequences, go to California Franchise Tax Board’s Mortgage Forgiveness Debt Relief Extended webpage and the Internal Revenue Service’s Mortgage Forgiveness Debt Relief Act and Debt Cancellation webpage.  The full text of Senate Bill 401 is available at www.leginfo.ca.gov

C.A.R. provides REALTORS® with many legal articles covering a wide range of topics of interest.  Some of the new or newly revised legal articles available at http://qa.car.org/ are as follows:

This article from CAR.org (California Association of Realtors)

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There are 67 homes for sale in Los Altos Hills; California on the multiple listing service (includes a large lot available for sale). Prices range from $19,500,000 to $1,150,000. Average days on market are 124 with a range of 4 to 380 days on market. the average list price per square foot is $854 of living space. The range varies widely from $430 to almost $1550 per square foot. There are homes – especially in the estate level that are not on the multiple listing service. Call me today to discuss a private showing of those homes or any home.

4 homes have closed escrow in the last 30 days in Los Altos Hills. Prices ranged from $3.8 million to $1,000,000. Square footages ranged from about 1200 to over 5600. Except for the lowest priced home – all sold for below list price.

Call me today for more details about these properties and many off the market properties. I have a list of buyers looking for properties in the area as well.
http://www.DavidBergman.com

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39 single family homes and condos/townhomes have closed escrow in the last month in Los Altos. Sales prices range from $489 to $1052 per square foot of living space. Sale prices were from $1,015,000 to $5,995,000. Days on market average about 34 days with the escrow period averaging 29 days.

80 single family homes and condos/townhomes are available on the multiple listing service in Los Altos. Prices range from $450,000 to just over $6.8 million. This includes a few pieces of land for development.

Many properties are receiving multiple offers.

Call me today for more details about these properties and many off the market properties. I have a list of buyers looking for properties in the area as well.
http://www.DavidBergman.com

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