The Right Dirt – Old Palo Alto | Moving Real Estate

The Right Dirt – Old Palo Alto | Moving Real Estate

Hey, whats up everybody? Alex Wang here I sell Silicon Valley real estate And I’m here in a premiere neighborhood of Palo Alto called “Old Palo Alto” Arguably one of the best neighborhoods in town. And I’ve got the haulers in today We’re getting the carpets out. Today is day one working on it. Getting the drapes out. Cleaning everything up. Ok, how did I do this? I found a trick. How did I do this? And the value of this property really is in the land. And, let me show you, in Old Palo Alto this is about a – square foot is just about like that much. For dirt in Old Palo Alto is about $500 a square foot. Right there. Hey Guys, so second day. I got confirmation that the haulers got everything out. They got the carpet out. There’s a lot of carpet. All the drapes, everything Tack strips, even staples on the ground. Every little one of those staples were taken out. And so now I’m really happy to see how the woodflooring looks And, you know, we’re going to go take a look right now. Alright, so property looks really good you can see it’s super super deep lot. Great land value here Day two, we put it on the off market, off MLS reached out to local brokers in the community just to let them know that it’s coming We move so quickly and we’ll be on the market this week Friday we have broker tour Saturday and Sunday, open house And then we’ll see So just finished up I got two offers on the property. Now the offers are here. I’m ready to give my client a call. But they’ve got a couple of options and so we’ll talk about that with the seller as well. So I’ve got two offers. They’re both over the asking price. One of them came in strong from the get-go. And one of them was a little bit lets just say inadequate. So now we have to decide on what we want to do. The other option that is what we call Multiple Counter. And the multiple counter is basically countering more than one party. Let them compete it out and one of them is going to add more money on top right? Yeah, one step in the right direction. So let me work on a multiple counter for both. Then we’ll give them 24 hours to respond. Alright, bye. Well, that’s it. Got a little bit of an understanding of kinda what the multiple offer situation looks like, how to really create some competition and so we’re going to draft up the multiple counter and be patient and wait. Hey guys, so we’re at my listing here in Old Palo Alto. and we are pending in contract and you know we knew that the value in this property was more so in the land and in the dirt than the house itself. So we focused on marketing it and get as much exposure as possible. And fortunately we got a lot of activity. We thought we would sell in a couple of days but ultimately in this price point, a higher price point it’s a more, narrower amount of buyers. So we sat it on the market for two weeks. Get a lot of exposure and ultimately we set a deadline and we got multiple offers. Buyers came in and last Tuesday we had one buyer step up and now it’s in contract. Just got word yesterday that the money from the buyer is in escrow. So now, if you take it from last Tuesday to this Tuesday thats a 7 day close and that’s one of the fastest close of escrow that you’re going to ever see in real estate. Now one of the most favorite parts of this process for my clients is that we are now sold.

3 thoughts on “The Right Dirt – Old Palo Alto | Moving Real Estate

  1. Nice job!

  2. Tell me more about multiple counters? I’ve never heard of that ? what would happen if both buyers accepted your sellers counter? Curious how that works? Thanks! Nice video

  3. Enjoyed the video! Can't believe a sq ft of dirt costs $500 there!

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