Los Altos Real Estate Blog

There is a wide variety of clubs in Los Altos and Los Altos Hills that service their members and the community.  Whether you're new to the community or a long time resident, there are plenty of things to do around town.  A club is a great way to make new friends or join existing ones.  Here is a sample of the many clubs available in Los Altos:

Los Altos Newcomers Club:  This club is focused on welcoming new members of the community.  I've met some of these folks and they remind me of the Welcome Wagon group from the 70s.  They have several other secondary clubs with a wide range of interests.  Take a look at their website for membership instructions.

The Garden Club of Los Altos:  This club meets regularly to talk about all things associated with gardening.  At each meeting they have speakers, discussions, and assignments to work on between meetings. 

Los Altos Tennis Club:  Do you love to play tennis socially but want a little competition added for fun?  This is the club for you.  They have ladders to compete among members and play other clubs as well. 

Los Altos Robotics:  Interested in building robots using Lego NXT and other sets?  This is the club for you!  It's for kids but they are serious and compete with other robotics teams from around the Bay Area, the state and the country. 

Los Altos Art Club:  An artist working in virtually any medium can and should join this club. You'll network with fellow artists, get support, gain access to shows, and other things.  They've even got a library of information to help.

Kiwanis Club of Los Altos: This club has been around since 1947 helping around the community.  They're the sponsors of the "Pet Parade" (a long standing tradition in the town) and the Christmas Tree Lot.

Rotary Club of Los Altos:  The Rotary Club has a long tradition of community service and support.  They are also the sponsors and event coordinator of the "Fine Art in the Park" event held every year.  If you are community service oriented, this club is a great one to consider.

The Metro, local magazine, is now taking votes for the 2012 Best of Silicon Valley.  Today is the last day of voting and I want to make sure everyone gets a shot at voting for the many Los Altos businesses that are on the list of candidates.  To vote, follow this link to the MetroActive survey.

Some of the Los Altos businesses that have been nominated include:

• Aldo's (Best italian restaurant)
• Los Altos Golf and Country Club (Best place to hold a wedding reception)
• Beausejour (Best french restarurant)
• JW Catering (Best caterer)
• Los Altos History Museum (Best small/quirky museum)
• Bus Barn Theater (Best Theater Company)
• Bicycle Outfitters (Best Bike Shop)

If you can get on there today and cast your votes that would help our fine local businesses get some exposure and the pride of being voted "The Best".  You can put a write-in candidate as well if you don't see you favorite Los Altos business on the list. 

Social media and networks are constantly in our face, in the media, and their very presence is pervasive in the daily lives of hundreds of millions of people around the world.  From Facebook to LinkedIn to Twitter, you can't go a day without someone you know, somewhere doing something online.  At what point is it all just...too much?

Along comes Pinterest...the latest in a long line of novel social media outlets.  This one offers the ability to "pin" photos and engage in dialog about them.  If that photo is copyrighted, you might actually see a lawsuit (or so I've heard).  I've taken a look at Pinterest and to me it just seems like another way to spend more time online.  Don't we already tagged photos on Facebook?  Do we really need Pinterest or is this just "the next big thing" and a momentary novelty to waste our time?

Real estate is a contact sport

That means real-world, in-person contact, not online.  You can start building relationships online but eventually they MUST move into the real world.  More real world time means more business.  Sure, having your name or business smeared all over another social network increases your chances of being found.  How how much is enough?  Is it enough to be on Facebook and other existing sites?  We don't need another social network.

Real estate is about people and relationships

Social media, like texting, tends to make contact less personal - in my opinion - and more like soundbites.  You can't have a meaningful conversation on Twitter.  Looking at Pinterest, it looks similar in that long dialogs aren't likely.  There are conversations but they appear to be "fluffy".  Do we need more fluff or more substantial?  We don't need another social network focused on "fluff".

I have nothing against social media.  I like it and spend time online every day networking with friends, family, and colleagues.  My networks of choice are Facebook and LinkedIn but I also use Plaxo and Twitter.  They all have their place but do we really need another one that simply wastes our time?  I'm not just talking about Pinterest.  Any other novel way of social networking seems to me, at this point, to be a feature of what already exists.  For me, I'll stay focused on what works and will watch to see where this one goes.

I'm posting this on my blog so my clients can know that while I see the professional need to be on social networks, that's not where I spend all my time.  You can find me in the real world, buying and selling homes.

Yes, but as the spring buying market ramps up it'll take more than just a few open houses to get what you want.  The fact is that as the median and average sales prices keep getting closer to $2 million, buyers are finding it harder and harder to get a "deal".  The biggest issue for buyers is finding a nice home and not overpaying.  Let's face it, when a nice house comes on the market and has 6-10 offers, you're going to pay more just to get in the door.  That's how competitive this market is.  How much more you pay depends on the house.

First - WHERE NOT TO LOOK FOR A DEAL!!

• Short sales
• Foreclosures (have an notice of default already)
• Bank owned properties

But Bryan, those are all great deals!  No, they're not.  Every property that fits one of those categories that has been on the market has sat for a LONG time.  You want to know why?  They have all been overpriced, in bad locations, or had other issues.  If it sits on the market a long time, there's a reason.

Second - Have a local agent

An agent to works in or sells homes in Los Altos will know the market.  They'll know about market activity, buyer profiles (cash, financing - your competition), and properties coming soon.  They'll also know about...

Third - Off-MLS or off market properties

the best way to get a deal in Los Altos (or Los Altos Hills) is to find a home that isn't on the MLS.  You'll typically have much less competition and thus avoid overpaying in most situations.  A well-connected agent will have at least 1 off-market property to show you, even if it's not an exact match.

Fourth - Old listings and everything else

Sellers from many years ago may be interested in selling now, depending on the market.  I also doing mailings to neighborhoods to find possible sellers who haven't done anything with an agent.  Again, find the home and make the deal.  You'll avoid the competition going this route.  The key is not going in with 10 other buyers who drive the price up.

Being a major real estate website these days almost seems as hard as being U.S. President.  For every person who claims you're great there's one more who says you're terrible.  All the major sites have been in the news for a long time, especially recently, vilified by consumers, agents, and the media for a bunch of flaws.  The PR agents for these firms have their hands full trying to handle all the negativity in a manner that makes sense.  Is it really their fault?  Perhaps not as much as you might think.

DATA, DATA, DATA...

One of the biggest arguments against these sites is that the listings are old, not valid, or not accurate (price, size, etc wrong).  From what I can see, that's the source of the most derision.  BOTTOM LINE:  All the sites have flawed data in one form or another.  REALITY CHECK:  There are a lot of good reasons these companies have the data wrong including:

• The county tax records are wrong
• The agent listed it and forgot it
• The seller (FSBO) listed it and forgot it
• General data entry errors by assistants and others
• Merged records errors

All of these reasons are outside the control of the major real estate websites.  Could they put measures into place to regulate this?  Absolutely.  With millions of records nationwide, it's not a small job.  Take their results with a grain of salt.

STATISTICS, VALUES, AND OTHER INACCURACIES...

Another huge argument against Trulia, Realtor.com, and especially Zillow is how they represent data.  Very few sites offer "sold" information and sometimes the statistics of homes sold, average selling price, and other data points are not entirely accurate.  For example, the Zestimate is deemed useless in many areas because, as Zillow rightfully states, there is a 10% or more margin of error.  Consumers and agents don't pay attention to that fine detail - IT'S JUST AN ESTIMATE.  The desire is to take these things at face value, as if they came straight from the local MLS.  Don't!  If you want accurate market statistics using the entire scope of data, visit the local MLS or, better yet, talk to your local agent.  The stats on many of these sites are what they are, stop blaming them. 

The major real estate websites do the best they can with the millions of property records they have and the millions of consumers accessing them.  At the end of the day, they'll never be as accurate as the local MLS or your local real estate agent.  They're a great place to start, but not the place to stay.  Call an agent and get it right.

The local real estate market is back to being on fire with mutliple offers the standard, not the exception.  This is simply a matter of supply and demand, Los Altos (and nearby towns as well) have very little supply and there is LOTS of demand.  It's not uncommon for homes to see 10 or more offers.  As a buyer, everyone one of those situations means you have to make an offer above asking price in order to win.

Should you make an offer over asking price?

• Yes, if you really want the house.  The winning bid will go high and how high depends on how many offers there are and the original asking price.  If the home is priced at $1.2 million (a bargain for Los Altos), it's in nice condition, and it's in a nice neighborhood, be prepared to offer much more than asking.  It's not unusual to see offers 10-15% over the asking price in these situations.  But, the key to knowing if you want the house is asking a few simple questions...
• Have you been looking for a long time?  If you spent the last year looking and having no luck, you're going to spend more this year (market appreciation).  You might want to just bite the bullet and get it over with before the market rises too much.
• Do you have to buy a home now?  Whether relocating, buying for schools, or whatever other reason you have if you need to buy now then just jump in and make an offer that will win.  Be prepared to offer as much above asking price is warranted by the situation.
• Is it "the perfect house"?  The ideal house is rare and you're better off NOT waiting for something similar at a lower price.  Prices are rising in Los Altos so the chances of getting a "deal" are extremely low.  You're better off buying what appeals to you now and making an offer above asking price - if it's needed.

You should not make an offer above asking price if...

• You just started looking in the market
• You're not in a hurry
• You still don't know what you really want
• You can't afford the higher price

Keep in mind that waiting until the slower periods in the year means just as little inventory as now with a little less competition.  You may not get what you want and you're not likely to save, but just not overpay.  One way or another, you'll still be competing against other buyers. 

Today is Valentine's Day in Los Altos and hopefully you're not in a last minute rush to get all the stuff you need for your sweetheart.  Stick with me and I'll give a complete guide to getting all the stuff you need to make it special.

Valentine's Day card

You'll need a nice card so stop by Los Altos Card & Party to get one.  There is also a large selection of Hallmark cards at Walgreen's and a few at Safeway.  Get there early to get the best selection.

Flowers

You don't have to be cliche to get nice flowers.  I highly recommend Safeway for their overall quality and price.  Have the staff create a special arrangement of something other than roses - they can do it!  You should also stop by Davino Florist on Main Street.  They are a full service florist who can do the best job in town.

Dinner Out

For a romantic dinner out there are several options but some of the best include Aldo (awesome Italian food), Beausejour, and the Los Altos Grill.  All have great atmosphere, excellent food, and the right "stuff" for romance.

Sweets

Head on over to Draeger's for fine, imported chocolates, a wide range of freshly baked goods, and even chocolate covered strawberries.  Of all the places in town to get sweets, they're the best.

I hope that all helps!  It's hard to know where to go and what to do but that's why I'm here.  If you have any other suggestions of places around town, please feel free to comment.

I'm holding open a gorgeous home today in Los Altos.  Priced at $1,899,000 - this home is very affordable and located in one of the quietest neighborhoods in the entire town.  It's within walking distance of the Los Altos Hills Country Club and Loyola Corners.  It's 10 minutes to downtown Los Altos - even with the lights.  You get a nice "country" feel on the street with a nice mix of homes styles plus new and old construction.

This home has been substantialy upgraded in 2005 and 2008 but looks "new".  The floor plan has nice flow to it and offers easy access to the back yard from the kitchen, family room, and master bedroom.  The yard offer a pool with automatic cover and plenty of room to move around.  The lot is 11,904sf.

I can't say enough about this place and highly recommend stopping by to take a look.  We had a lot of visitors to the open house yesterday and I'm sure this will move fast. 

In case you hadn't heard, the banking industry and the Federal government settled the "robo-signing" fiasco that resulted in a significant number of improper foreclosures.  The bottom line is that people caught in this mess that haven't lost their homes will get a break and assistance with modifying their mortgages.  The folks who had their homes literally stolen through improper foreclosure procedures get...wait for it...$2000.  You can't even buy a decent car for that much, let alone a house.

How is this a "win" for the American homeowner?

Here's a bigger question - Why are we protecting the banks?  They literally stole property from hundreds of thousands of people and the only compensation offered is barely enough to cover rent.  The banking industry made money when all these loans were made.  They made money on the downturn and got a bailout.  The banks walked away from all this unscathed.  In fact, they still owe $133 billion to the federal government.  Who is looking out for the guy who lost his house?

Bryan's Scorecard on the Foreclosure Fiasco...

• Banks - Winners!
• Investors -Winners!
• Existing homeowners - Winners!  (sort of)
• Former homeowners - Shafted!  (royally)

This sort of "up yours" attitude from the banks and the Federal government is likely to undermine belief that homeownership is an important part of the American lifestyle.  It's also likely to widen the gap between the "haves" and "have nots".  How can we convince all these people who were improperly foreclosed on that they should EVER buy a home again?  Did we just lose 750,000 potential home buyers because they got burned by the system?

In my opinion, NAR should be all over this to speak on behalf of homeowners who otherwise have little voice.  This settlement will have a negative, long-term impact on the faith American homebuyers have in home ownership.

One of the biggest issues with downtown Los Altos has been the lack of large chain stores.  Many of the property owners have wanted to keep the "village" feel and only have small, local shops present - especially on Main Street.  Of course, time and countless lessons learned by other towns has shown that that trend is prone to failure.  Look at the number of vacancies downtown and you'll see what happens when small businesses with little economic backing do.  A recent article in the Los Altos Town Crier talked about this issue, which is what prompted this blog.

What chains could we possible want downtown that would augment the retail experience?  Interestingly enough, Apple was mentioned as was Niketown.  However, I think we could use a few others that would appeal.  We have one major sumbling block before they show up - small properties!

There are 3 major owners downtown who still hold narrow lots, some adjoining.  If those owners would sell those lots, and merge them, we'd have more wide lots with 3000+ sf of store space to accomodate these chains.  The town is is desparate need of more, better stores - c'mon owners, get with the program!  Is keeping the Los Altos "village" feel so important that you'll sink the town's economy to do it?  I think we can have a successful mix of chains and small businesses, very much like Los Gatos.  If they can do it, so can we!

My suggestions for appealing chains include:

• Children's Place (clothes)
• Coldwater Creek (clothes)
• Ed Hardy (clothes)
• Gap (clothes)
• Justice (clothes)
• Pottery Barn (housewares)
• Morton's, Ruth's Chris, or any other steakhouse chain
• Lego (toys)

There are several others but these, in my opinion, fill a gap in what we already have downtown without seriously impacting existing merchants.  In particular, we don't have a serious steakhouse in town and that's popular with many folks.  We have one toy store and the Lego products would probably augment their business instead of taking away from it by bringing more "toy focused buyers" downtown.  The clothes are a no-brainer and these stores are very popular right now.

I'd like to get some more exciting restaurants downtown too.  A theme restaurant that's family oriented would be interesting but I'm not sure where to put it.  Something like "Rainforest Cafe", you know what I mean?  Something with a little flash.  A little "sizzle" downtown would really attract consumers.  Sleepy little villages don't tend to make much money.