ūüŹ° September 2022 Newsletter  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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The Monica & Mandy Group 

WSJ Ranked Among

America's 

Best Teams 

September 2022 Report


Interest rates have increased again and stock markets have declined: they continue to see substantial volatility and it remains difficult to confidently predict their future effects on the real estate markets.  


The next major indicator of buyer and seller psychology and market dynamics will be what occurs during the next two months of the fall selling season. 


Feel free to reach out to us for detailed information about our local real estate market.

Monica & Mandy's

Real Estate Q&A


Refinancing May Be a Good Idea


Dear Monica: How should I react to the recent Federal Reserve comments that they will raise rates more times in the next months? I have a house that I would like to refinance but I don’t know if this is a good time to do so -Judith C.


Dear Judith: This could be a very good opportunity to refinance before rates increase more. Depending on your future plans, you may want to refinance into a lower fixed rate for 5, 7, or 10 years which may reduce your monthly payments.


Then you could either pay down principle during this period and when it reverts to a fluctuating rate, refinance again depending on the lending climate at that time. 

It is hard to predict where the volatility in the present market is going but at least you can manage your payments for the next years with a good loan now.


Interest rates just hit their highest weekly average since 2008.

Over the summer, sales prices declined vs the same period in 2021, but not to the extent that many expected.


It is important to note that median sales prices can be affected by multiple factors other than changes in fair market value.

 The pandemic brought astronomical gains in sales prices and it is perhaps a sign of a re-balancing market that we are "giving back" some of those gains.  However, we are still above pre-pandemic prices!

Featured Listings

151 Melville Avenue
Palo Alto
6 Bed | 4.5 Bath | $4,750,000
1990 Sharon Road
Central Menlo Park
3 Bed | 2 Bath | $2,998,000
2140 Santa Cruz Avenue #B302
Menlo Park
2 Bed | 2 Bath | $939,000
440 Cesano Court #314
Palo Alto
2 Bed | 2 Bath | $1,329,000

Recent Sales

360 Leland Avenue
West Menlo Park
5 Bed | 4.5 Bath | $6,738,000
10600 Chardonnay Lane
Los Altos Hills
4 Bed | 3.5 Bath | $5,500,000

(represented Buyer)

810 Cedro Way
Stanford
3 Bed | 2.5 Bath | $2,300,000
1155 Merrill Street #108
Menlo Park
3 Bed | 2 Bath | $1,585,000

Buyer Needs

We have buyers looking in Atherton, Menlo Park, Palo Alto, Woodside, Portola Valley, and Los Altos Hills in prices ranging from $4M - 15M and are always looking for pre-market opportunities or properties coming soon.  If you know of any properties that fit, we would love to hear about them! 

The Monica Corman &


Mandy Montoya

 Group
DRE# 70012036 | 01111473 | 01911643
M: 650.465.5971 | 650.823.8212

monicaandmandy@compass.com
compass

© Compass 2022 ¦ All Rights Reserved by Compass ¦ Made in NYC

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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