Saturday, March 29, 2014
Proposed Four-Story Mixed Use Building on El Camino in Palo Alto to be heard
Friday, March 28, 2014
Menlo Park Hiring Expert to Research Initiative to Revamp Downtown Plan
The Menlo
Park City Council has actually authorized investing up to $150,000 on a
consultant to examine the brand-new effort proposed by locals that would
significantly change the city's downtown/El Camino particular strategy. The strategy took 5 years to develop, with
considerable community involvement, and cost $1.7 million. A group of Menlo Park citizens is presently
attempting to alter that strategy and require voter approval for large project.
After Menlo
Park authorized the specific strategy in 2012, Stanford University suggested
developing a mixed-use complex on eight acres along El Camino Real. Although the strategy falls within the
parameters of the city's particular plan, plenty of residents oppose it and
have actually formed a group which call themselves "Save Menlo."
‘Save Menlo’
is now gathering signatures of registered voters to certify a ballot measure
that would change the downtown plan. ‘Save
Menlo’ needs 1,780 signatures of voters to certify. If approved as Save Menlo
is proposed, the effort would dramatically shrink the size of permitted
projects, and require voter approval on large projects, just like the Stanford
development.
The council
wants their expert to examine the Save Menlo campaign and contrast it to the city’s
plan. The city will use the expert's report as a basis for discussion at a public
conference.
Thursday, March 27, 2014
Off-Market Listings Only Reduce Profits for Home Sellers
Off-market,
private, or pocket listings are becoming more and more commonplace as sellers
are somehow being persuaded to keep their properties off of the Multiple
Listing Service during this hot real estate.
Generally, they are being told that by keeping their property listing ‘private’
their privacy will not be invaded by troops of public gawkers traipsing through
their homes, and that they will not have to hassle with signs, lock-boxes, and agents
showing their homes, etc. Whatever the
rationale that is being sold to sellers it is unfortunate because they are
actually unknowingly leaving large percentages of potential profits on the
table.
In the real
property market, today's victims of secret or private sales are homeowners that
are letting their property be marketed at least 10% under real market value. Dishonest brokers/agents who are playing coy
first gain the sellers' confidence then encourage them that it would be most
effective to keep their property off the Multiple List Service
("MLS"); to maintain personal privacy and stay away from potential fraud;
and limit the inconvenience that comes with marketing one's home like signage,
broker tours, lock-boxes, etc.
The claim
that some brokers and agents are using to convince sellers to have a “private”
or “pocket” listing/sale is to guarantee buyers to their clients. However, in a
lot of instances those guaranteed buyers are coming from the broker’s and agent’s
own offices or circles of close net friends which dramatically reduces exposure
to the marketplace, but allows for the brokers and agents to possibly
double-end the transaction, or “keep the whole deal in the office.”
What they also
fail to tell unsuspecting sellers is that exposing the property on the MLS
places it in front of over 14,500 local networked broker and agent members, all
of whom then have the possibility to work with the property. Limiting exposure to the MLS is by definition
limiting the marketability of the property.
And coincidentally these “private” or “pocket” listings are common when
the real estate market heats up and there is limited inventory.
It is
estimated that in Santa Clara county residential properties on the MLS sold for
13% more than “private” or "pocket" or “off-market” listings in 2012.
It is a
violation of a listing broker's fiduciary duty to the seller to keep the home off
the MLS unless the homeowner, after being fully and faithfully informed, has a
legitimate reason for not marketing the property to all brokers and agents in
the MLS. It is always in a seller's best
interest to have a massive advertising of a home, which encourages and promotes
bidding wars and greater sales prices. Sellers who are convinced to have an
“off-market” listing probably do not recognize the concomitant advantages of
placing their home on the MLS, so they acquiesce and go along with their broker
or agent’s recommendation based on guarantees from their broker/agent that they
will get either equally as good a sale price by doing so; all without the
hassles of signs, tours, brochures, lock-boxes, etc.
Broker and agents
have the duty to exercise care, integrity, fair-dealing, and loyalty for their
customers. This task consists of performing
their best possible acts and conduct to acquire the greatest sales price for
the home. Recommending “private” or
“pocket” listings is typically NOT in a seller’s best interests. There are however exceptions or rare occasions
where these type sales make sense for sellers, but they are extremely rare; not
10-15% of the active marketplace.
It is
estimated that as the local real estate market began warming back up,
exclusions from the MLS raised considerably, almost doubling for the first
quarter of 2013 as compared to the same timeframe in previous years. In 2012, homes not put on the MLS amounted to approximately
15 % of the market or $340 billion in sales volume. Incredibly, at a conservative 10 % decrease
in fair market value (due to private or off-market listings), that would equate
to $340 million in potential lost seller net proceeds – all “cloaked” in the
name of privacy and/or hassle free transactions.
The MLS was designed
to subject properties to maximum exposure leading to a maximum sales price for
the specific timeframe. Leaving a
property off of the MLS dramatically limits exposure – doing exactly opposite
of what a seller should be doing.
The brokers
and agents who recommend “private” or “pocket” or “off-market” listings should
be held to answer with specific reasons and factual details for this
recommendation and be asked to provide verifiable proof that their
recommendation will lead to a maximum sales price for the seller. The bottom line is that a broker or agent
will never be able to prove that limiting exposure of a home by preventing the
listing on the MLS will maximize the sales price.
Shelly Roberson
Alain Pinel Realtors, Palo Alto, CA
23 Years Experience, 600+ Closed
Transactions
1-650-464-3797
Wednesday, March 26, 2014
Staging a Listing is a ‘Must’ in Any Marketplace
Staging has
entered into the ‘standard of practice’ in preparing a home to place on the
real estate market. Making a great first
impression, whether via photos on the web, or as the purchaser walks into the
front door, has never been much more essential when marketing a property. In fact it is tantamount to having a listing
look it’s best for the marketplace.
Brokers and agents today commonly suggest to their seller clients to
embark on some degree of staging, ranging from a detailed cleaning and
de-cluttering, to rearranging furniture including accessories, or in some
cases, an interior redesign or renovation, or even renting out furniture to
load a vacant residence. The ideal level
of staging relies on the house's perceived problem (if any) and the seller's
spending plan, and depending upon the level of staging and dimension of the
residence, could set a seller back $2,000 to $20,000 depending on how many
rooms are being addressed.
Homeowners
should be amenable to the process and take to heart the recommendations of a
seasoned real estate agent along with a quality stager, who both have a keen
sense of ways to present a home to its finest advantage. Yet even with organizing largely accepted as
an important component of marketing a home we do meet resistance once in a
while from sellers who love their stuff, their furnishings, and their home the
way it is.
Some sellers
presume that, in a seller's market, such as the one we have now, with housing
stock in such short supply staging isn't necessary. Various other sellers diligently pay
attention to brokers' and agents’ proposed repairs and abide by the stagers'
proposals, but at the same time begin to really feel completely bewildered and
question the necessity. Occasionally
homeowners are immune to staging given that they feel their residence is best
as is, or they think they have the skills to make modifications on their
own. In each of these situations a
seller should just let the professionals take over. By way of an example would you go to a
plumber to have your front yard landscaped?
Periodically
a house shows really well without any staging at all, however even the most
spotless beautiful home can take advantage of some tweaking to make certain the
images standout on a computer or when a buyer walks through the front door for
the first time. A lot of homes benefit
from an examination by an individual with an unbiased eye who could determine
the weaknesses as viewed by potential customers. These professionals have the expertise to
boost the property's appearance in the most affordable and cost effective way. And even though staging might seem like a huge
effort, a lot of the work entails de-cluttering, which can also be valuable as
an organizational exercise for the vacating seller.
The costs to
properly stage a house in any market are justified, because for the bulk of
properties it truly pays dividends. It
is estimated that staging normally elevates list prices by 2.5% to 6% (and
frequently often times much more), which can total up to an added $25,000 to
$60,000 for a $1,000,000 sale. As a
bonus, homes that are properly staged likewise tend to get into contract
faster.
Staging is an investment of time
and money for the seller, yet, as we have actually seen time and time again,
it's an investment that pays dividends handsomely, most of the time in
multiples of the investment spent.
Shelly Roberson
Alain Pinel Realtors, Palo Alto, CA
23 Years Experience, 600+ Closed
Transactions
1-650-464-3797
Monday, March 24, 2014
How to Choose the Right Neighborhood for You
Finding
a good neighborhood to live in is probably more important as choosing the
actual physical home. The neighborhood needs to be secure, fit your budget and
your ideal lifestyle. Many people make the mistake of focusing primarily on the
house and secondarily on the neighborhood while it should probably be the
reverse. You can always remodel a home, you can almost always add-on or modify
your home, but you can’t change a neighborhood, its characteristics, or the
neighbors.
When
purchasing a home you need to know that you are not only buying a place for you
and your family to live in but you are investing in the neighborhood. So before
getting started, ask yourself the following questions
ü
Do
I prefer a quiet street or an active one?
ü
Do
I need a view, or a certain orientation?
ü
What
do I like or dislike about my old neighborhood?
ü
What
is important to my family and me?
After
you create a clear picture of the kind of neighborhood you want consider these
tips and important factors to consider to help you find the right neighborhood:
Crime and safety- You need to ensure the
neighborhood you choose is safe. Contact the local police and inquire about the
area’s crime and safety information. Drive around and look for any tell tales
signs of crime such as graffiti, abandoned homes or homes in disrepair. You can
also research online about the neighborhood’s crime statistics. Another important step is to walk around the
neighborhood and talk to all the neighbors you can find.
Location- The ideal neighborhood
should have amenities such as the grocery store, restaurants, cafes, hospitals,
and recreational parks nearby. Many people prefer walking to the mall or their
favorite restaurant in the neighborhood. Also, consider your individual needs;
do you want a quite family oriented neighborhood or a hip urban area? If you
have kids, you may want them to have potential playmates and so choosing a
family friendly neighborhood might be right for you.
Transportation - Accessibility to
highways is important, as well as a neighborhood that can be accessed using
public transportation. It’s important to consider how easy it is to get to
international access such as airports and how far you have to drive to get
there. You should learn the traffic patterns as well, so that you know what to
expect when traveling to and from work.
School district - Schools are among the
best selling points of a neighborhood. Quite simply, the better the schools,
the better the investment in a property with good resale value. Even if you
don’t have school going kids, the quality of schools matters when looking at
your home as an investment. This is
especially true when you go to re-sell the home.
Taxes and property values – Different counties and
cities have varying property and local taxes. Research how much tax you will be
required to pay within the coming years.
Ask
your agent to tell you about the areas you are considering. They should be able
to share added flavor about the neighborhoods for which you are interested.
If
you do a little research, you should be able to find the ideal neighborhood to
fit your needs, your lifestyle and your budget.
Questions
Let
me know if you have questions. Don’t hesitate to contact me via email sroberson@apr.com, or cell phone
1-650-464-3797.
http://twitter.com/sroberson2
Saturday, March 22, 2014
Mid-Peninsula Regional Open Space Seeks Public Funds for Parks & Open Space
Votes in the
MidPen jurisdiction, which includes many cities in San Mateo and Santa Clara
counties will be presented with an opportunity to approve a bond measure to
help fund a $300 million bond measure for park funding. A two-thirds vote will be necessary for
approval.
The bond
authorization, if approved, will be a tax rate not to exceed $3.18 per $100,000
of assessed property value, and would probably start at about $1 per $100,000
which would be in addition to the current $17 per $100,000 in assessed value
that homeowners currently pay to the Open Space District.
The MidPen
region covers approximately 62,000 acres of Open Space. This bond money would help fund expanding
access to public land, preserving redwood forests, restoring land that feeds
lakes, streams and waterways, preserving agricultural land in San Mateo county
coast, and restoring native vegetation.
This is the first time in 41 years that MidPen is seeking additional help
from voters.
http://www.shellyroberson.com
Thursday, March 20, 2014
Dual Agency Only Creates Conflicts & Increases Risks for All Parties
A dual agency real estate relationship exists when a real
estate agent or a broker represents both sides of a real estate transaction. By definition an agent is required to act as a
fiduciary towards their clients, however, under a dual agency scenario it is
virtually impossible to be a fiduciary for both a buyer and a seller in the
same transaction. “Fiduciary” is defined
by Black’s Law as a word derived from Roman law meaning, as a noun, a person or
entity, holding the character and position as a trustee, with respect to the trust
and confidence involved with candor and scrupulous good-faith towards their
principal’s affairs and property. A
fiduciary has duties to their principal involving good-faith, fair dealing,
trust, special confidence, and candor towards their principal’s interests. Fiduciary duties are imposed by law on real
estate agents and brokers.
The only way a seller can legally agree to a dual agency
relationship is when; 1) they have been provided a Dual Agency Disclosure
document; 2) have been fully informed as to all of the pitfalls and potential
problems associated with dual agency representation including being told the
relationship will be now be limited and no longer a relationship that they
should expect to exist; 3) have been advised to seek legal counsel; and 4) and
after all of this cautionary language has been disclosed and reviewed still
agree to the dual agency representation.
Several States Prohibit
Dual Agency Real Estate Transactions for Good Reason
For good reason several states including Colorado, Florida
and Kansas strictly prohibit dual agency transactions because it is incredibly
difficult to withhold confidential information about a seller or a buyer when
an agent is privy to such information.
Moreover, it is never in a seller’s best interest to allow their agent
to represent a buyer on their property.
The seller should insist that the agent refer the buyer to another agent
such that each party has equal and fiduciary relationships which will help
avoid conflicts that are inevitable in a dual agency transaction.
Potential Conflicts,
Issues, and Unknown Problems are Prevalent
The potential conflicts, disagreements, issues and parade of
horribles that can arise in a dual agency relationship are almost
infinite. The best practice for all
parties concerned is to have each party represented separately and equitably.
Buyers Asking For Help at
Open Houses Are Common
Finally, it is a common practice these days for a buyer to
walk into an Open House and tell the listing agent that they are unrepresented
and would like to have the listing agent represent them because they feel like
they would have an advantage or upper hand on other buyers. It is precisely this thinking that should
alert a competent and seasoned listing agent to refer this type of buyer to
another agent for representation because there are unreasonable expectations at
the outset of this relationship on behalf of the buyer. A seller who agrees to a dual agency
relationship should also have second thoughts and consider their own interests
first before they agree to this dual representation. Several of the reasons stated above should
give enough pause for sellers, however, those reasons are merely the tip of the
proverbial iceberg.
Best Practice:
As a listing agent with 23 years of experience and over 600 closed
transactions I always refer any potential buyer to another agent so I avoid this
conflict and maintain my primary fiduciary relationship with the principal who
hired me in the first place.
Palo Alto Foothills Park to Expand?
The Palo
Alto Resident-Only Foothills Park may be expanding under a current proposal in
front of the Palo Alto City Council. In
a memo to council members 7.7 acres of city-owned land next to the exclusive
Foothills Park preserve was described as an environmentally important riparian
(next to water) corridor.
The memo’s
author indicated that it was “time” for the property to become dedicated
parkland accessible to the public. The
three council authors, Pat Burt, Karen Holman, and Greg Schmid would like an
ordinance that would permanently add the land to Foothills Park.
The land at issue
was originally granted to the City in 1981 by the family of Palo Alto Medical
Clinic founder Russell Lee with the reversionary caution that it be used for
conservation purposes like parks and recreation.
The
Foothills Park land (1,194 acres) was originally owned by Lee as well, but was
sold to the City for $1,000/acre in 1958 as a “residents only” park. Although the restriction was relaxed in 2005
only residents and guests can access the main gate to the Park on Page Mill
Road.
If you have
concerns or would like to attend the City Council meeting on this issue it is
Monday, March 24, 2014 at 6PM, Palo Alto City Council Chambers.
Wednesday, March 19, 2014
Palo Alto’s California Avenue Farmers Market – Kick-Off This Sunday
The new and
expanded California Avenue Farmer’s Market is kicking off this Sunday, March 23
from 9A to 1P. This expanded market will
help the city’s massive streetscape project which also began this week. The weekly market will extend from California
Avenue to Birch Street which will allow 25 new vendors to participate and share
their products.
The new
vendors are bringing a bushel of new food and drink options to compliment an
already abundant display of food, drink and other products.
Several new
vendors include the Manresa Bread Project (Los Gatos restaurant), Beet
Generation Juice, Tru Gourmet (organic dim sum), and Ladera Granola. Spice Hound and the San Benito Tea Company
will rotate every other week in one vendor space.
Barrett
Farms (poultry), Fogline Farm (chicken and pork), and H&H Fresh Fish Co.
round out the meat vendors.
Mariposa and
Flour Chylde Bakery will provide gluten-free baked options.
Far West
Fungi will feature their specialty mushrooms.
Palo Alto
Mayor Nancy Shepherd will cut the ceremonial ribbon at 10:30A.
Looking
forward to seeing you out there.
Thursday, March 13, 2014
Palo Alto Plans New Bike Routes throughout City
Three decades after Palo Alto turned
Bryant Street into the nation's first "bicycle boulevard," the city
council is hearing a proposal to create similar bike-friendly routes on Greer
Road, Wilkie Way, Park Boulevard and Stanford
Avenue.
The four proposed bike routes are among
the 17 bike type projects for which staff is requesting proposals. If City
Council approves the request from city planners on
Monday night, five contracts worth $2.2 million will be awarded to four
different consultants for design work on these projects, which also include new
bike routes on sections of Ross Road, Moreno Avenue and Bryant Street, where an
existing bike boulevard would be extended north to Palo Alto Avenue and south
to East Meadow Circle.
Consultants will also consider new
bike routes
in the Barron Park neighborhood and biking enhancements on Homer and Channing
avenues.
Though the projects range in size and
ambition, most seek to turn major segments of existing streets into bike
boulevards -- streets with low traffic volumes, traffic-calming features such
as speed humps, traffic circles and barriers and lane markings that aim to make
it easy for cars and bikes to share the road. Bike boulevards also typically
facilitate free-flow travel for bicycles by placing stop signs on streets
crossing the boulevard, rather than the boulevard itself.
The Homer and Channing avenues project,
which would stretch between Alma and Boyce Avenue, would turn each one-way
street into an "enhanced bikeway," a less intense version of a bike
boulevard that relies on lane markings and signage to encourage cars and
cyclists to share the road.
In the staff proposal, the 10 projects
would be divvied up between two consultants: Fehr & Peers and Alta Planning
+ Design. In addition, staff is proposing a $275,000 contract with Sandis
Engineers to design bike enhancements on Churchill Avenue, between El Camino
Real and Castilleja Avenue, and a $737,767 contract with Mark Thomas &
Associates for a bike corridor on Charleston-Arastradero Road, between Fabian
Way and Miranda Avenue.
The project includes new
landscaped median islands, intersection bulb-outs, enhanced bike lanes, trees
and streetlights, according to a staff report. The city has already received
$450,000 in state funding and a $1 million grant from the Santa
Clara Valley Transportation
Authority for these improvements.
A fifth contract would also go to Alta
for creation of a bike route along the Matadero Creek trail.
The city has also received a proposal
from Mountain View-based tech giant Google, which is planning to occupy 200 San Antonio Road, a site that once housed Hewlett-Packard Co. and sits
on the border between the two cities.
According to the staff report, Google
has proposed to make various improvements in south Palo Alto, including a bike
route on San Antonio near U.S. Highway 101; another one on San Antonio between
Bryant and Alma; a third one on Alma between San Antonio and East Charleston
Road; and a fourth one near Cubberley Community Center on Middlefield.
"Staff sees synergy opportunities
in expanding this project to include these bicycle linkages," a report
from the city's planning department states, noting that Google has agreed to
fund "all consultant expenses for these projects directly."
The ambitious list of biking proposals
comes at a time of high enthusiasm on the council for both improving the city
for bicyclists and a healthy revenue landscape, which makes it possible for
city officials to turn their bike dreams into reality.
In July 2012, the council approved a new bike and pedestrian master plan. Members vowed at the time not to let the
document languish on a shelf and collect dust as its predecessor had been doing
since 2003.
The new plan proposes to create a
citywide network of bike trails and boulevards as well as new connections
across existing barriers such as El Camino Real, Alma Street and U.S. Highway
101.
The plan states that Palo Alto can
build upon its bike-friendly history and its demand for better bike and pedestrian
access "to solidify its status as one of the most bicycle friendly
communities in California, if not the country."
The proposed projects would be the
biggest step taken by the city to address the vision of the bike plan since the
council committed more than $1.3 million for a new bike bridge over Highway 101, a $10 million project that will be
funded largely by grants.
The council is also considering
including bike improvements on its list of infrastructure projects that could
potentially be funded by a 2% hotel tax increase which voters could approve in November.
Wednesday, March 12, 2014
Palo Alto High School Gym Bids Farewell
After 85 years of being a focal point for Viking pride and hosting thousands of
events such as games, dances, and rallies, Palo Alto High School
community members, esteemed alumni, and current students and staff will spend
the afternoon of Sunday, March 16, bidding farewell to their beloved
gymnasium. Built in the late 1920’s, Paly’s gym is one of the few classic
gyms still serving students in the Bay Area.
“We are excited to
provide a chance for the community to celebrate the deep history of this iconic
building as we put a festive closure on the 85 years of student life and
athletic events. At the same time, we look forward to the new sports
complex which will serve the same purpose for the next several generations,”
shared event coordinator Jane Gee.
The event: “Farewell Paly Gym – Celebrating 85 Years of
Memories” will be an afternoon filled with campus tours, food, a vintage
fashion show, a “then and now” display of classic and modern items, a
memorabilia booth by the Palo Alto Historical Association, and a special
program featuring well known leaders such as Palo Alto Mayor Nancy Shepherd, San
Francisco 49ers Coach Jim Harbaugh, former ESPN Announcer Dave Feldman,Santa
Clara County Supervisor Joe Simitian, and beloved basketball coach Clem
Wiser. Display booths and
tours will open to the community at 12:30 p.m. with the formal
program starting at 2:30 p.m. in the Paly gym.
Palo Alto High Principal Kim Diorio said, “The volunteer
committee has done an outstanding job of gathering interesting speakers and
displays that memorialize the proud legacy of our Viking Spirit while finding
ways to focus us on the exciting future we will find in our new athletic
complex. I hope everyone will come out and be part of this great event.”
To see photos of the gym throughout its history, leave a
note with your favorite gym memory, make a donation, and learn more about the program, please go
to http://www.paly.net/event/farewell-paly-gym-celebrating-85-years-fond-memories.
This free event is open to the whole
community. Since parking is extremely limited, attendees are encouraged
to carpool, walk, or bike. Paly gear will be for sale by the Paly Sports
Boosters Club including pre-sales of sections of the gymnasium’s classic wood
floor.
Donations to help cover the costs for this event are greatly
appreciated. Checks should be made payable to Palo Alto High School - Athletics
and mailed to Palo Alto High School, 50 Embarcadero Road, Palo Alto, CA
94301 Attention - Lisa Stone, Farewell Paly Gym. All donations are tax deductible and all donors will be listed
in the printed program.
Monday, March 10, 2014
New Alma Village Grocery Store Sign Getting Complaints
A supermarket that is expected to open in Palo Alto’s Alma
Village next month is already drawing complaints over a large sign that
recently was installed on Alma Avenue. The larege sign is crucial for the
grocery store’s survival according to the owner, and the City Council has
already approved the size of the sign.
Watch video below for a recap of the sign story on local news.
http://sanfrancisco.cbslocal.com/video?autoStart=true&topVideoCatNo=default&clipId=9931703
Tuesday, March 4, 2014
Electric Vehicles Get Preference in New Palo Alto Homes
In an effort
to be more green oriented the Palo Alto City Council unanimously approved a
requirement for all new homes built in the city to be pre-wired to charge
electric vehicles. Estimates place the
additional cost per home at approximately $500 which would be significantly
less than a retrofit of an existing home for an electric charging system.
It is
estimated that 1,000 new electric vehicles are sold in California every month
with Palo Alto being one of the leading cities in electric vehicle purchases.
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