Tag Archives: Home buying

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Palo Alto’s New Homes, August 30

Iiiiiiiiiit’s back!  Your new home reviews are back as of this week. I’ve been on vacation and thus the new home write ups have suffered.  All is now well and you can expect to see these reports each week.

This week has been slow, which I expected due to the holiday on Monday.  Expect to see an onslaught of homes hitting the market starting next week and continuing until late October.  We’re officially in the second part of the selling season!

See below for this week’s new homes:

OFF MARKET – Barron Park | 1,500 SF House | 11,250 SF Lot | Guest House | $2,195,000.  Lightly remodeled home on one of the nicest streets in Barron Park.  A larger lot size on this property means that there is some space to expand.  The home is mostly older, but appears to be in reasonable shape.  The home also includes a small but usable guest house.

101 Alma Street #207 – 3 Bedrooms | 2.5 Bathrooms | 1,855 SF Unit | $1,072 per Month HOA | $1,199,000.  Nicely remodeled corner unit on the second floor of this larger building.  Although I am not a big fan of this development because of the interior layout and extremely high HOA Dues, this particular unit was quite nice.  The three bedroom units in this building are quite large, and this unit’s remodel made the spaces feel bright and open.  If you’re looking for a downtown location and don’t mind the building’s apartment-like feel or high HOA dues, this unit is a winner.

252 Colorado Boulevard – 5 Bedrooms | 3.5 Bathrooms | 2,879 SF House | 8,470 SF Lot | $2,695,000.  Large residence in Midtown.  This newer build has fantastic curb appeal and tons of nice interior spaces.  Although the property is located on a busy street with arterial roads nearby (Alma, El Camino and Oregon Expressway), the residence is quiet inside.  The floor plan is not as open as many modern houses, but there is ample space to entertain.  I loved the vaulted ceilings on the second floor, and I liked that the bathroom was nicely sized, but not over the top like in many homes.

428 Alder Lane – 4 Bedrooms | 3.5 Bathrooms | 2,873 SF Unit | $328 per Month HOA | $2,200,000.  One of the larger residences in the Arbor Real complex.  This particular town home has a nice, big first floor with a lot of clean and large spaces.  The floor plan felt a little disjointed to me, but altogether it’s not too bad.  The second floor is well built but felt bland.  The spaces are decently proportioned, but the layout reminded me of a cookie cutter design.  The second master suite was a nice touch, but given the layout and size, the price feels a little big to me.

 

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Palo Alto’s New Homes, August 2

And just like that, August is upon us.  This is likely to be the last big week of inventory until September comes rolling around.  This week we saw a lot of property starting to come out for sale in South Palo Alto, along with a wonderful property in Professorville and some great newer construction in Midtown.  See below for this week’s new homes:

3238 Waverley Street – 6 Bedrooms | 4 Bathrooms | 3,737 SF House | 6,250 SF Lot | $3,198,000.  Newer construction in Midtown.  The floor plan on this home is really well suited for a large family.  Happily, I found the design on this newer construction to be nicely laid out rather than cramped in certain areas.  The living room has a really nice feel to it, and the kitchen is top notch.  My only complaint, which is impossible to fix, is that the house feels extremely large for its lot size.

1560 Mariposa Avenue – 3 Bedrooms | 2 Bathrooms | 1,900 SF House | 6,000 SF Lot | $2,180,000.  Charming home in Southgate.  I love this neighborhood, as all the houses seem to have their own bit of character.  This home is no different.  Although on the smaller side, this home has a reasonably large lot for this particular neighborhood.  The surfaces could all use some modernizing, and the kitchen felt cramped to me.  One thing to keep in mind with this neighborhood is that there is definitely noticeable noise from the train, and some noise from Alma does get through.

3949 Park Boulevard – 3 Bedrooms | 1 Bathroom | 1,228 SF House | 6,678 SF Lot | $928,000.  Older home with an Eichler-esque feel to it.  Park Boulevard is an interesting street because sections of it are not so nice, and other parts are wonderful.  This particular section of Park Boulevard is the nicer part.  The home itself has some obvious work to do, from removing the wood paneling which prevails in the property to re-landscaping certain spots.  The biggest drawback of this home is the family room which is obviously a conversion.  Since the living room is quite large, that room feels unnecessary and detracts from the open but cozy feel of the home.

3553 Alma Village Circle – 3 Bedrooms | 2.5 Bathrooms | 1,754 SF Unit | $245 per Month HOA | $1,798,880.  This townhouse feels like a home.  I liked the layout on this new construction, but the complex itself is somewhat of a cramped complex.  The layout on this unit flows well, but the unit feels very basic in the way its spread out.  The upstairs bedrooms are sized fairly well, but the third bedroom could have been larger.  Buying one of these units is somewhat of a gamble given how press the units have received during their construction.

125 Hawthorne Avenue – 2 Bedrooms | 1 Bathroom | 1,306 SF House | 5,340 SF Lot | $2,000,000.  Older, but well updated home in the Downtown North neighborhood.  Although the home is definitely livable, the real money in this property is in the zoning.  I would check to see if there is a historical rating on this home with the city and then look to develop the property.  The lot is on the smaller side at 5,340 SF.  The home itself appears to be well maintained, but at 77 years old, make sure to pick at the disclosures.

4211 Rickeys Way #A – 3 Bedrooms | 2.5 Bathrooms | 2,214 SF Unit | $299 per Month HOA |  $1,548,000.  I really like the way this complex was built, and think these units are wonderful.  This particular unit is one of the larger floor plans in the complex at 3 bedrooms, and the location within the complex is solid.  The first floor feels a bit small in the living room, but the kitchen is well set up and flows well.  The upstairs bedrooms are not bad, but the bathrooms are on the smaller side.  The HOA on this complex is, from my last recollection, a strong plus.  The pricing feels big to me, but given the size, it will be interesting to see where it sells.

2577 Louis Road – 2 Bedrooms | 1 Bathroom | 1,162 SF House | 10,783 SF Lot | $1,798,000.  Palo Alto’s funkiest kitchen in a nice starter home.  One of the obvious draws to this property is the lot size, but the home itself has its own charm. As an expansion project, it would be a good option.  Most of the home is fairly dark, and given the age of the home, it might be an interesting project to update the wiring.  For a smaller home, the layout is well thought out to maximize the family room and bedrooms.  Unfortunately, the kitchen space and bathroom space suffer for it.  This home will be a nice purchase for someone looking to expand an older home, or build new.

850 Loma Verde Avenue – 3 Bedrooms | 2 Bathrooms | 1,561 SF House | 6,019 SF Lot | $1,425,000.  This home would be a great option for a young couple looking to entertain groups.  The layout of the home is not bad, but feels disjointed in several places.  The big sell on this property is that the backyard is sizable given the orientation of the home on the lot.  The remodel on this home was pretty quickly done, but all the right things were updated.  Pick it up soon and you’ll still have time to barbecue for Labor Day!

251 Lincoln Avenue – 5 Bedrooms | 2.5 Bathrooms | 3,400 SF House | 7,880 SF Lot | $3,800,000.  Very neat, older home in Professorville, one of Palo Alto’s premier neighborhoods.  I absolutely loved this home.  The home could use some contemporary updates, but for the most part, I like that the remodeling did not diverge too far from the home’s older feel.  The bedrooms in this home are all well sized, and although there aren’t many bathrooms in this home for the number of bedrooms, the are unique.  The lot size on this home is also larger, so there is ample space in the backyard (but it could be landscaped differently).  If you’re in the market for a larger home in Professorville, I would jump on this because it won’t last long.

3198 Fallen Leaf Street – 4 Bedrooms | 4 Bathrooms | 2,340 SF Unit | $131 per Month HOA | $1,385,000.  If you don’t mind stairs and some freeway noise, this unit is fantastic.  It’s well sized and designed to maximize open spaces while embracing a modern feel.  Young professionals will find this home an excellent option.  Given the number of bedrooms, the space is also flexible and could work for a family.  My only real complaint is the kitchen layout, which feels somewhat jarring given how it’s placed in the unit.  I would have opened it up a bit more so that the flow would improve.

937 Ilima Way – 4 Bedrooms | 2 Bathrooms | 1,850 SF House | 6,038 SF Lot | $1,785,000.  Well updated rancher home on one of Barron Park’s premier streets.   Personally, this is my favorite street in Barron Park.  this tree-lined street is a wonderfully friendly and charming section of the neighborhood.  This particular home is well updated, and they did a nice job updating the kitchen so that you can look out the front window.  The bedrooms are fairly small on this home, but they work.  Although the countertops have been updated, more work will likely be done to update the bathrooms and flooring in some areas.  This home will make someone a wonderful family home.

424 Homer Avenue – 5 Bedrooms | 3 Bathrooms | 2,200 SF House | 3,920 SF Lot | $2,875,000.  I’m often asked how it is possible to charge so much for a home of this size.  Think about it this way: if you were to live across the street at the Woodmark, you’d be paying a similar amount for a similarly sized condo, and also paying almost $800 per month in HOA Dues.  With that in mind, this particular home is well sized and has a ton of bedrooms.  The main problem is that most of the living spaces feel small.  This is likely because the main priority seems to be adding bedrooms rather than open spaces.  This home is currently being used as a duplex, but would be very easy to convert back to a single family home.

715 Charleston Court – 6 Bedrooms | 2.5 Bathrooms | 2,830 SF House | 8,918 SF Lot | $2,198,000.  Nicely sized home and lot in South Palo Alto.  For a larger family, look no further.  This home has room to spare and the sixth bedroom is an anomaly.  I really liked the layout and the backyard’s configuration.  The way the pool is set up makes it a benefit for entertaining groups.  The location is nice, although there is a lot of commercial use properties nearby.  I especially liked the kitchen set up, which was obviously designed with family meals and watching children in mind. Altogether a great property for a larger family.

 

A Realtor Buys a House, Part 7 – Serendipity

A friend / client is also looking for something in Woodside
and one of his big criteria is a three car garage. We had just had our daughter
in December and this was early February, so I had a 6 week old baby at home who
had spent a lot of time in and out of the hospital in her early days, a new mom
and I was learning a lot about sleep deprivation and coffee.

Every Tuesday is Brokers’ Tour in Woodside, Portola Valley,
Menlo Park, Atherton and Redwood City. It goes further up the Peninsula too,
but I mainly work in Woodside, Portola Valley and Atherton with occasional
forays into Redwood City / Emerald Hills and San Carlos. Tour runs on Tuesdays
from 9:30 – 1:00 and is a great time to stay of the roads, as there are a bunch
of real estate agents tearing around looking for houses, talking on the phone
and gobbling snacks on offer at various new listings as they try to keep up
with new inventory. There is also a healthy dose of gossiping along the way.

It is a necessary evil, as the homes that look great online
and in photos can be very different in person. Cracked foundations, sloping
floors and leaky roofs don’t show up in photos, and understanding the market,
what is selling, what isn’t, and what makes homes good or poor choices is a key
part of the value I provide for my clients, both buyers and sellers. So, I go
“on tour” as well.

I was speaking to an agent about my client’s desire for a
place with a three car garage, and she told me she had just signed a listing
for a house in Woodside Glens, on a cul de sac with a three car garage. Do
tell? When can we see it?

I called my client and we saw it the next day. Well, the
three car garage only has two bays, but they are extra long and there is a
storage space too. It didn’t work for my client, but the garage was good enough
for my desires (See Part 6 for a recap of our criteria), the location was good
and I thought my wife would like it. I called the agent and told her the house didn’t work for my client as he needs a garage for three cars, but I wanted my wife to
see it, and could we schedule a showing?

(Obvious cliffhanger here)

Thanks for reading…..

A Realtor Buys a House, Part 6 – I Get By With A Little Help From My Friends

You may have noticed there aren’t a lot of houses for sale,
relative to demand lately. This is especially true in Woodside, a town of 5100 people and 1700 homes where we we are
trolling the bottom of the market in terms of price. Last year, the least
expensive sale in Woodside near town (not on Skyline) was $850,000, the most
expensive, $117M. Sadly we were looking toward the bottom of that range. With a
median price of a little over $3M, and close to town town averaging around $5-6M, we
knew that finding something meeting our criteria would be two or three houses a
year, not quite a needle in a haystack, but slim pickings nonetheless.

We already have a number of friends in Woodside, and it’s a
small town, so I put the word out. I told everyone I knew that we were looking
for a home there and our criteria:

·
Larger yard

·
True 2 car garage, 3 cars preferable

·
3 bedroom minimum, preferable 4

·
Good floorplan

·
No weird geological issues, slopes, etc.

·
Late in the game, my wife added “Walk to downtown
Woodside”.

(Remember those from Part 4?)

I scoured Craiglist, and talked to friends, neighbors and of
course, other realtors about what they had “coming up”, meaning listings that
were signed, but not on the market yet. Any opportunity to find a house before
the masses, and also to do a reality check on our criteria against our budget and
location requirements. If we had added “unobstructed view of the mountains” we
would be out of luck. The neighborhoods in our budget don’t have big views for
the most part. The same goes for a Bay view. The geography doesn’t allow for
that.

I found homes mentioned on Nextdoor, occasionally on Craigslist and
learned of upcomings and tracked rumors. I was starting to feel like Colombo
without the trench coat. Meanwhile, we were also expecting our first child in
December so I was expecting that we were in for a long search with a hiatus
over the holidays while we welcomed our new arrival.

(Insert cliffhanger here)

Little did we know how it would all play out.

Thanks for reading……

A Realtor Buys a House, Part 5 – The Ones That Got Away

One of the ways you learn a lot about what you want, because
they are hard lessons, is when you look back at homes that sell that you didn’t
make offers on or get. When you find yourself saying weeks or months later “I
wish we had bought that house”, it crystallizes what is important in your mind.

First there was the house on Brookside Drive in Portola
Valley that bordered a creek. My wife fell in love with the master bath that
had a fireplace, the sliding doors overlooking the creek and the hickory
floors. It had kind of a weird floorplan, but it would have worked for us, the
location was great (this was pre-Woodside requirement), and there was room to
add to the garage (see previous post on criteria). The big wine chiller in the
kitchen didn’t hurt either. We were quite ready on the loan side, so when it
sold in a week with four offers, we sighed and decided to focus on that
neighborhood as a good one, and took away a lot of good ideas for our next
home. 4 out of 5 of our eventual criteria.

Then we saw this one in Woodside Glens last winter. Totally
remodeled, it had 3 of our eventual 5 criteria. It was remodeled about 10 years
ago, was funky in a way we could work with, and utilized the 7500sf lot well.
It lacked the privacy I wanted, even with a stockade fence and gate in the
front, and the garage was unusable for a car, let alone a car and small SUV.
The crawlspace had been built out into a media / storage room, and we went back
three times trying to convince ourselves that it was worth $2M to us.
Eventually, someone else decided it was worth that to them and put us out of
our misery.

This house broke our hearts. A little above our stretch
number with some issues involving water under the slab foundation and some
imposing cracks in the framing that had been patched and painted. It’s on a
half acre with an unobstructed view of Windy Hill in a great setting. The house
is an open mid-century modern (think Eichler) which my wife really likes. My
in-laws came along because they are house junkies, and as we sat at the table
on the patio and looked at the view, my father in law looked at me and said “You
should buy this house. We will help you.” Gulp. As we looked reports and I
bugged contractors and engineers to figure out how long before it fell down
without major structural and drainage work, someone with more money paid full
price and cash. I think we dodged a bullet, but it was really cool. Did I
mention that in the disclosures the sellers mentioned that during heavy rains
water ran out of the hood over the stove? Whew…..VERY cool house though.

This last one was back in The Glens of Woodside. Still for
sale, it has big interior spaces, a great setting and three bedrooms plus an
office. The garage has been converted into a guest quarters with kitchenette
and a full bath. Not great as a garage anymore because you can’t fit two cars
in it (see our criteria), but potentially a neat man cave. Recessed lighting in
the garage? Works for me….. It is on the One Way part of Hillside and you can’t
see the yard from the house really. If we didn’t have kids, I think we would
have been all over this house. It has a really private setting and the
neighbors are great. Someone will really like it.

If you have read thus far, thank you and I hope you are
finding the series entertaining. As you can see, this has been a long search,
so agents don’t have a magic wand for finding great houses that consumers won’t
know about. We spent two years on this odyssey, so have patience if you are
looking. Most of my clients are in something in about 6 months. The fastest was
three days, the slowest 18 months.

Thanks for reading…..

How Not to Get Burned in a Hot Market (or, Fools Rush In)

Spring is here, and it’s pretty clear the local real estate market is on fire. With inventory low and demand high, houses are selling in record time. Lots of bids, offers way over asking, no contingencies, the works.

If you’re selling a home right now, lucky you. You’re in the proverbial catbird seat. Even properties with significant flaws will sell in this market, so if you’re holding onto a property with an inferior location, an awkward layout, or substandard construction, I would highly recommend that you get a For Sale sign up in the next couple of months.

If you are buying a home, all is not lost. You have options.

The most important thing to hold onto during these periods when the market is sizzling is your sanity. In the frenzy of getting a roof over your head, don’t talk yourself into a flawed location or a bad layout just to get the deal done. Because when the market normalizes, which it will — after 23 years in the real estate business, I promise it will — the flaw that you convinced yourself you could live with will become glaringly obvious. You will realize with a sense of doom that you really don’t want to live with it. And because the market is no longer as hot as a pistol, you might have to. As I’ve said to many a house-desperate client: Even if you buy the best of three bad houses, you’ve still bought a bad house.

So now you’re saying, “That’s great, Mike, but what can I do? I need a house and I need it now.”

I can sum it up in three words. Rent, and wait. I know, I know. It’s not what you had hoped for. You want to nest and paint and plant tulips. You don’t want to have to move again. You don’t like the idea of “just throwing away money” on rent. But I’m here to tell you that in this hot real estate market, renting may be your best option, saving you from paying too much for an impulse home rather than your dream home. Rent and wait for that right house.

My second piece of advice is to get a really good real estate agent that you trust implicitly to put your interests first. Do your homework. Ask for recommendations from friends who live in the neighborhood where you want to buy. Interview several agents before choosing one.You want an agent who is willing to talk you OUT of buying the home with the awkward layout, who will tell you what you are NOT seeing on the market right now, who will say, “Let’s blow out of this open house and take a look at that rental.” In a hot market, when inventory is low, the temptation is strong to close the deal, but a good real estate agent will put your interests first, knowing down the line that when it’s time to buy, you’ll be back, ready to plant your tulips.

A Realtor Buys a House, Part 4 – The Must Have List

We currently live in a 3 bedroom tract house that was built
in 1953, probably in about a week. It was great when I was one of four people
bidding on it when I was single. The “two car” garage that barely held a
compact car and motorcycle was sufficient for my needs, and initially I didn’t think the
tiny bathrooms and the dark, galley style kitchen were that objectionable. I
had plans to remodel the kitchen and open up a wall to the living room anyway.
The yard was fine, it had some fruit trees and it wasn’t too much to maintain.

Over the last 6 years a few things bugged me more and more,
like a pebble in your shoe, so when we decided it was time to move, I made a
list of Must Haves, things I wouldn’t compromise on.

· 
Larger yard, 1/4 acre minimum

· 
True 2 car garage, 3 cars preferable (it’s amazing how much stuff a baby has and the car required to haul it all!)

· 
3 bedroom minimum, preferable 4

· 
Good floorplan

· 
No weird geological issues, slopes, etc.

· 
Late in the game, my wife added “Walk to downtown
Woodside”.

Seems pretty easy, right? Ha!

The last one is a killer. The south side of Woodside Road in
Woodside is where you find Larry Ellison’s Japanese village, Tom Siebel, Michelle
Pfeiffer and Charles Schwab. A nice neighborhood, but a little out of our price
range. The other side isn’t much better with horse properties and multi-acre
estates starting in the $5M range. Then there is “The Glens” with all kinds of
interesting homes that were originally built as various lodges and vacation homes for people from San Francisco.
The geology of the Glens is pretty wild, with lots of creeks, rock formations,
narrow little ravines, and narrow, winding streets. Suburbia it isn’t. It is a
very closely knit neighborhood and Halloween there is fantastic.

When you make your must have list, you need to write it down
and carry it through every house. It will save you from yourself. We looked at
a house three times that was 1 for 6 on that list trying to talk ourselves into
it because it was a good location and we liked some of the aesthetics and finishes. It would have
been a disaster. All it had was walk to town.

So – sit down when you aren’t in the heat of the moment,
make your “Must-Have” list and stick to it. No matter how cute the kitchen in
the two bedroom place is, if you need three, walk away.

Thanks for reading……..

A Realtor Buys a House – A New Dad’s Journey Through Hell – Part 1
A Realtor Buys a House, Part 2 – Laying the Groundwork

Top 5 Tips for Winning in a Multiple Offer Situation

Top Five Tips for
Winning in a Multiple Offer Situation

In today’s real estate market, with an abundance of buyers
and a shortage of inventory, many desirable properties are receiving multiple
offers—often over asking price. As a buyer it’s scary to think that you have to
compete in an auction to get the house you want.

So what do you do when you find a house you love and are
ready to buy, but find yourself in a multiple offer situation? How can you
improve your odds of making the winning offer?

In my 20 years of working as a real estate agent, I’ve been
through multiple offer scenarios many times—on both sides of the table. I know
what a seller’s agent is looking for and I also know how to present my buyer’s
offer to win the deal. Here’s a countdown of my best tips:

5.  Bid over asking price.

Many times a property will be
listed with a price that seems too good to be true. It is. The agent is pricing
the house low to attract a lot of “buzz” that will result in multiple bidders.
But in the current market, even houses that seem fairly priced are getting
multiple offers over asking price. The trick is to anticipate the level of
interest, know how much to bid and make sure that the seller’s agent is willing
to work with you if you need to go back and forth on price.

4.  Get your financing and paperwork in order.

In this fast-paced market, deals
wait for no lenders. Sellers want to be certain when they accept your offer
that your loan will go through and you can close escrow within their timeframe.
Make sure you are pre-approved and ready to go.

3.  Be prepared to have few or no
contingencies.

In many cases a seller will have
inspections done before they put the house on the market and expect you to
accept their reports. Of course, you can ask to have your own inspections done,
but this may make your offer less favorable than that of another buyer without
this constraint. If you want your own inspection, you can arrange to have it
done before you present your offer to avoid this.

And the contingency of selling
your current home before you buy is a thing of the past in this market. If you
need the cash from the sale on your existing home to buy the next one, your
best move is to sell it first or find some bridge financing.

2.  Don’t be difficult to work with.

If you or your agent exhibit signs
of being too demanding or high maintenance, the seller’s agent may advise their
client to take another offer to avoid the hassle. Make sure you are reasonable
and pleasant in all your interactions.

And the #1 most important tip to winning in a multiple bid situation…

Work with an experienced, respected agent with deep local knowledge in
the area where you want to buy.

An active, local agent knows the
inventory, knows the community and knows her fellow agents. She can advise you
how much to bid, recommend lenders to help you get pre-approved and tell you
what contingencies are important. The seller’s agent will have confidence that
she can move things along easily and quickly.

In this competitive market you
need an experienced agent who you can trust. My clients are made up of 85%
referrals from people I have helped happily buy and sell houses. Call me and
let me help you find the perfect home at the right price for you.

Next Blog: Anatomy of a Multiple
Offer Win—And We Didn’t Have the Highest Bid!

Palo Alto’s 17 New Homes, March 15

What a week!  Palo Alto debuted 17 homes this week, with many homes priced at the lower end of Palo Alto pricing.    See below for an overview of this week’s listings:

1041 Fife Avenue -  5 bedrooms | 4.5 Bathrooms | 3,557 SF House | 10,000 SF Lot.  Located in the coveted Crescent Park Neighborhood, this recently built home offers a fairly traditional floor plan, but has opened up the kitchen to create a great room.  Given the large lot and very comfortable layout of this home, this home makes an excellent choice for a growing family or anyone who likes to entertain.  Listed for $3,950,000.

3449 Ramona Street - 3 Bedrooms | 1 Bathroom | 1,027 SF House | 6,250 SF Lot.  This Midtown starter home has a lot going for it.  A light remodel has updated several of the home’s older features, and the bamboo floors are a nice touch.  The washer/dryer combination in the kitchen is interesting, but nonetheless, it is a good use of space.  Listed for $1,298,000.

733 Colorado Avenue - 2 Bedroom | 1 Bathroom | 811 SF House | 4,620 SF Lot.  Another Midtown starter home, this home is definitely for a young couple or an older family without children who are looking to downsize.  Fortunately, the floor plan is simple and works well for the home’s size.  Anyone looking at this home should also look at 3507 Park Boulevard, which is very similar.  Listed for $998,000.

256 Walter Hayes Drive - 6 Bedrooms | 3 Bathrooms | 2,389 SF House | 6,240 SF Lot.  Located in the Green Gables Neighborhood, this home is unique because of its 6th bedroom.  Some light remodeling to the home (floors and kitchen) would really make it shine.  A few of the bedrooms felt small to me, but given the home size and number of bedrooms, the overall layout is impressive.  Listed for $1,895,000.

919 Clara Drive - 4 Bedrooms | 2 Bathrooms | 1,535 SF House | 6,720 SF Lot.  This Midtown home offers many of the amenities those looking for a starter home will find attractive.  The light remodel that has been done to the home adds a nice touch.  The backyard is mostly hardscaped, so there is not much lawn in the backyard.  Also, be aware that the property has no garage.  Listed for $1,298,000.

360 Everett Avenue, #4B - 2 Bedrooms | 2 Bathrooms | 1,762 Unit | HOA Fees: $771 / Month.  A very spacious unit with an oversized balcony and large bedrooms, this unit has a lot going for it.  The dues on this building are high for 2 bedroom unit, but the complex offers a lot in return.  Typically the view from this level in this building would be of other complexes, but a nice line of trees blocks the view of the neighbors.  Listed for $1,295,000.

1512 Mariposa Avenue - 3 Bedrooms | 2.5 Bathrooms | 1,571 SF House | 6,000 SF Lot.  Located in the Southgate Neighborhood, this home is super cute inside.  The size makes this home an ideal option for a family with a child.  The guest house is a neat addition, but it comes at the expense of a garage.  Street parking in Southgate can be tricky, so the garage would have been nice.  This property is priced low at $1,295,000.

3291 Berryessa Street, #1 - 3 Bedrooms | 2.5 Bathrooms | 1,775 SF Unit | HOA Fees $329 / Month.  This unit is all about the modern look and feel.  Taking a nod from the loft style units which have been the craze recently, this two year old unit has some modern touches in both the exterior and interior.  If condo living is for you, and you want lots of space (and a two car garage), this home may be a nice option.  The dues are also low, which is a definite plus.  Listed for $1,250,000.

2450 Cowper Street - 3 Bedrooms | 2 Bathrooms | 1,920 SF House | 8,340 SF Lot.  Located on Midtown, this home is an older property which has been well taken care of.  The kitchen has some nice touches, but a new buyer may want to consider some light remodeling throughout the house.  Given the spacious size of the home (for a starter home) and the spacious backyard, this home is worth taking a look.  Listed for $1,695,000.

450 Lowell Avenue - 2 Bedrooms | 1.5 Bathrooms | 1,367 SF House | 7,500 SF Lot.  Located in the heart of Old Palo Alto, this home is a rare find.  Although the home is on the smaller side, the lot is something to marvel at.  The large lot size and A+ location of this home are what steal the show.  This home will be a good barometer for lot value in Old Palo Alto.  Listed for $2,595,000.

256 Fulton Street - 3 Bedrooms | 2 Bathrooms | 2,055 SF House | 5,000 SF Lot.  Located in Crescent Park near the border with the Downtown North and Willows Neighborhood, this neat home offers the ability for residents to walk to Downtown Palo Alto.  Given the smaller lot size, this home is laid out really well, with a nice open floor plan.  The kitchen could use some light touch up, but even the tiles look nice with the rest of the home.  Listed for $1,950,000.

1801 Waverly Street - 5 Bedrooms | 3.5 Bathrooms | 2,982 SF House | 9,000 SF Lot.  This is an impressive home in the heart of Old Palo Alto.  the fifth bedroom is a nice addition to an already stunning home.  The traditional floor plan is still able to create some nice gathering spaces, as the living room and dining room are both oversized.  The master suite on the top floor is something to be seen, and the master suite on the first floor is a nice touch.  Listed for $3,295,000.

1143 Guinda Street - 4 Bedrooms | 3 Bathrooms | 2,532 SF House | 7,500 SF Lot.  This home is a light remodel away from being a stunning house.  The homes on Guinda have been selling very well over the last year and a half, and this home is a good example of why.  The countertops throughout the home could use some refreshing with a different material, but I think the home’s layout make this home a hidden gem.  The backyard and carport are a nice addition to avoid the need to park on the street.  Listed for $2,595,000.

836 Colorado Avenue - 5 Bedrooms | 3 Bathrooms | 2,330 SF House | 6,322 SF Lot.  Everyone loves a putting green and hot tub, and this house has both.  Located on Colorado Avenue, and arterial street for Midtown, this home has an interesting layout, with three of the bedrooms on the main floor and two bedrooms on the second floor.  Unusual, but a nice touch for older families who want to avoid stairs, or parents with teenagers, who want to avoid, well, the teenagers.  The kitchen and living room flow well, but the backyard could have been worked better to feel less choppy.  Listed for $2,288,000.

746 De Soto Drive - 3 Bedroom | 2 Bathroom | 1,914 SF House | 8,190 SF Lot.  A 1952 built Eichler home in nearly original condition.  Located in the Green Gables Neighborhood, this home has the standard Eichler floor plan.  Plan on saving some funds for a remodel to the kitchen, bathroom, and possibly the floors.  With that said, people do love the layout and indoor/outdoor feel of Eichlers, and the location is prime.  Listed for $1,800,000.

 292 Carolina Lane - 4 Bedroom | 2 Bathroom | 2,064 SF House | 7,192 SF Lot.  Built in 1951, this home has an Eichler feel with a few modern touches.  The remodel to the floors and kitchens  is a nice touch, but wood paneling in the bonus room did not flow with the rest of the home.  The lack of a garage is also a downside to the home.  However, given the overall home size and price, and location a block offset from Charleston Road, this home may be worth a look.  Listed for $1,688,000.

3375 Stockton Place - 4 Bedroom | 2 Bathroom | 1,716 SF House | 6,400 SF Lot.  Eichlers, Eichlers, Eichlers.  This home and neighborhood is a haven for Eichler construction.  Although this home has not seen much remodeling since its initial build in 1958, the home seems to be well maintained. With a little TLC, this home could be a neat starter.  Listed for $1,299,900.

How to Buy a Condo in Palo Alto

The Good News: You’ve decided to take the plunge and buy a condo in Palo Alto! Congratulations!

The Bad News: Inventory is low, prices are high and figuring out possible HOA issues is giving you a migraine.

Advice: Take two aspirin and hire a local real estate agent who knows condos and can help you navigate the sales process.

Here are a few of the reasons you need to work with agent who is a condo expert:

In 2013, the average condo in Palo Alto sold within 10 days of being put on the market. That means that a buyer would have to go through the property, become pre-approved for a loan, examine all the property disclosures, sign everything and prepare an offer within a week and a half. Yikes! An experienced agent can help you clarify what you’re looking for, get all your paperwork in order and give you real-time information about market conditions so that when it comes time to buy, you’ll make the winning offer.

There are weird loan requirements for condos. Many condos have hidden issues that may affect the loan.  For example, if a property is comprised of more than 30% rental units, as opposed to owner-occupied, many conventional lenders will either require an exception, or not loan on the property. Knowing the specifics about local condos in advance will avoid a possible deal-killing surprise when you are ready to close on a sale.

Trouble with appraisers creates another loan problem. Appraisers often have trouble catching up to Palo Alto’s market prices.  This is especially true with condominiums, which have their own quirks. A knowledgeable agent can help guide appraisers and provide them with up-to-date comps to head off any problems.

HOA Documents are important. You need to make sure that you are well aware of all the issues that can be hidden in the documents, such as the building’s financial situation, reserves, rules and regulations. If necessary, an agent can recommend an HOA document specialist who can do a “wellness check” of the condo’s HOA.

If you’re thinking of buying a condo, be sure to work with someone who understands the local condo market. Call me to learn more about how I can help you purchase the condo that’s right for you in Palo Alto.