As a general rule I advise my clients to give their home maximum exposure before accepting an offer, in order to obtain the highest possible sales price. Achieving maximum exposure requires a complex marketing plan, an integral part of which is listing the home on MLS.
By listing a home on MLS, a seller ensures that it will be available to the hundreds of agents who subscribe to and use the MLS as the main source to find properties to their buyers. Conversely, in an off-MLS transaction a seller is relying only on one agent to market their home.
Private sales transactions, which are not recorded on the MLS,often indirectly affect the public market activity and property values for other homes. For example a seller may get an acceptable offer from a buyer, but because of the lack of reported sales on the MLS the appraiser will not be able to appraise the house at the offer price. This in turn may prompt the buyer and seller to negotiate a lower sale price in order to close the transaction.
The market remains a seller market . Only 5 new listings of single family homes were listed on the MLS last week as oppose to 4 the week before. 11 listings changed status to pending as oppose to 9 the week before and 5 listings closed escrow as oppose to 14 listings the previous week. We have 25 active listings in Menlo park as of today.
If you are planning to sell your home it is an opportune time to sell.
Please contact me for a free market analysis to your home and to help you achieve your goals quickly and stress free .
Following is the detail of the market activity in Menlo Park for last week: