The median price of an existing home in California in January increased 13.8 percent and sales decreased 24.1 percent compared with the same period a year ago, the California Association of Realtors® (C.A.R.) reported. (For complete article go to http://www.rismedia.com/index.php/article/articleview/13682/1/1/ )

What does that mean to somebody living in Palo Alto or Mountain View or the immediate surrounding communities? In an area that is famous for its micro climates, it isn't too much of a stretch to understand that the real estate market also has micro climates. All you have to do is look at the zip code maps in the local newspaper every weekend to see that sales and appreciation can vary widely, even within the same city.

It is early in the year, and there is no established pattern just yet as to which way our area will go this year. Some areas are still hot, while others have cooled substantially. However, consider the following: homes that are listed under $1,200,000 in Palo Alto and under $900,000 in Mountain View, if prepared and marketed correctly, are still getting multiple offers in almost all cases and selling above asking price. Prices seem to be continuing to climb, despite the slowdown in sales activity.

Houses in the $1.2 million to $2 million range, especially in Palo Alto, are still selling briskly, although many only get one or two offers. On the other hand, it is clear that the market has slowed in the over $2 million range. Those prices are softer and those houses are staying on the market longer. Still, after being in the business since 1980, I am convinced that this area is very resilient. The fantasic climate, the proximity to Stanford and other great institutions, and the quality of life in general make this area a draw for people all over the world.

There is no right or wrong time to sell, except what works for you. If you are thinking of selling your home, be sure to work with an experienced agent who is familiar with your specific market so that you can accomplish your aims and maximize your bottom line. That is what counts in the long term.