Executive Living in Saratoga
Filed under Blog, Current Listings · Tagged: 3 Car Garage, 4 Bedrooms, Saratoga, Swimming Pool
Move into this beautifully remodeled home perfect for the executive who wants both elegance as well as convenience. Situated on nearly one-half acre a short stroll to the Saratoga Village on a quiet cul-de-sac, this remodeled beauty of 3,733sf +/- (assessor) with high ceilings and a light infused comfort, will stand up to both busy family as well as entertaining demands. Two family rooms and one living room, all very spacious along with a large back yard with swimming pool and two decks mean you never run out of space. Three bedrooms have their own full bathroom and walk-in closet. The fourth bedroom is currently configured as an office. The three car garage has extra storage and deep bays accommodating a work shop.
14232 Juniper Lane
Saratoga, CA
Offered at $2,598,000
What is MDA and MFA in Los Altos Hills?
Understanding the constraints of remodeling and new construction in Los Altos Hills should be considered before you buy a house in Los Altos Hills. The Town relies extensively on calculations commonly known as MDA and MFA in determining the maximum size house you can build and also how much impermeable space (hard scape) you can have on your property.
Controlling the MDA, or maximum development area lets the town protect the hillsides against too much run off and erosion and also helps to retain the rural natural setting for which the town is revered. Typical MDA for the standard one acre lot is 7,500 square foot. This varies depending upon the slop of the lot and other factors. Items that are included in MDA include concrete walk ways, paved driveways, tennis courts, pools and patios. You can get an allowance for more MDA by using pavers that have holes in them through which grass can grow or gravel or other means.
MFA stands for maximum floor area ratio. Like MDA, MFA can be pretty complicated. Floor area, as per the official town document, “shall be defined as the gross horizontal area of the several floors of all buildings, including garage and carport spaces, measured to the outside of exterior walls.” Basements, if they fit the town definition of basements , are not included. Typical MFA on a standard acre lot is 5,000SF. This can be complicated and usually requires a survey to determine the exact MDA and MFA.
It is best to reference the town documents and work with a planner to be certain of your constraints. For more information see the Town’s worksheet and info at http://www.losaltoshills.ca.gov/doc-browse/doc_details/144-mfa-mda-worksheets
Los Altos Hills Sellers – Only The Serious Need Apply
With nearly one-third the rate of houses going sale pending as the Los Altos “Flats”, Los Altos Hills sellers take heed. Only put your house on up for sale if you are serious about selling. Of all the communities in Santa Clara County, Los Altos Hills currently has the slowest velocity or rate of properties selling. If you look at the current inventory in Los Altos Hills, you can break it down to three types of sellers. Half of them have homes that have been on the market before, many that sit over-priced. These sellers just want a price and are willing to ‘hold out’ for the right buyer to come along at a price the market cannot justify. The second type of Los Altos Hills sellers might need to sell but are stuck on a price the home might have fetched when the market was at its peak. These homes can be identified by a long string of price reductions and time on market that can be measured in months not days. Then there is a sliver of the Los Altos Hills market pie that is serious buyers whose agents have tracked the market and helped their clients price their homes properly for what the market will bear. They will also be able to market the subtle nuances of what is sure to be a unique property.
Many factors deter people from living in the ‘Hills’ over the ‘Flats’. Unfamiliarity with septic systems, distance from town, scary factor of winding narrow roads, older homes or ultra-steep driveways all contribute to a prospective buyer devaluing what on paper looks like incredible value for large acreage and a large home. One of the joys of Los Altos Hills is that no two homes are alike. This means agents experienced in selling unique properties are worth their weight in gold. Understanding the value of unique views, usable land, proximity to attractions, MDA/MFA make a great ‘Hills’ realtor.
We are still in a declining market in Los Altos Hills, where values are dropping. We are even starting to see a sprinkling of short sales and bank owned properties. In this case, sellers, time is your enemy. If you price your home too high, you risk riding the market decline down and making less in the long run than if you were to have priced your home aggressively to sell in the first place. For those of you ‘testing the market,’ now is not the time for that. You will only end up frustrated. Finally, beware of realtors who set your price expectation artificially high just to ‘buy’ the listing. They are not doing you any favors and should not be chosen just because they tell you what you want to hear with respect to price.
Challenging Your Property Tax Bill
So, you think your property values have dropped and you don’t think you should be paying the property tax your assessor is asking you for. What do you do? First, speak up by the deadline for filing an appeal or you will have to wait an entire year before you get another chance. The appeal window for each county varies. Here are the primary ones in Silicon Valley:
- San Francisco County: July 2, 2010 to September 15, 2010
- San Mateo County: July 2, 2010 to November 30, 2010
- Santa Clara County: July 2, 2010 to September 15, 2010
- Santa Cruz County: July 2, 2010 to November 30, 2010
Find the appeal form on each of the County Assessors’s web sites. It will take you through what you need to provide and give you numbers to call if you have specific questions. It is best is to include a few comparable property sales that justifies your position. Your realtor can provide these for you. The tax relief you get is not subject to the annual 1% increase once it is reset. My experience is that along with any relief you do get for the period of your appeal, you will receive notification that the assessed value can reset back up to the previously taxed amount at any time.
If you need help getting a list of comparable properties for your home, call Connie Miller at 650-279-7074.
Multiple offers in Cupertino
The market is really heating up, perhaps nowhere more than in Cupertino. In the month of March there have been numerous properties that have gone under contract in Cupertino with an astonishing number of buyers vying for the same property. Here are just some of the data points our office has been able to piece together. They might not be exact because this data was collected from calls and networking but they are representative of the level of activity in the market:
19773 Wintergreen Listed at $974,888 Sold for $1,120,000 20 offers
1570 Bonnie Joy Listed at $938,000 Sold for >$1,030,000 17 offers (2 ALL CASH buyers, close in 5 days)
7428 Tiptoe Listed at $1,150,000 Sold for >$1,200,000 10 offers (4 ALL CASH buyers)
7572 Lockford Listed at $999,000 Sold for ~$1,050,000 9 offers
7912 August Listed at $998,000 Sold for ~$1,030,000 5 offers
10445 Westacres Listed at 969,000 Sold for ~$1,050,000 10 offers (Totally fixer upper!!!)
801 Betlin Listed at $888,000 Sold for ~$950,000 5 offers (2 ALL CASH buyers)
5073 Shady Listed at $899,000 Sold for $970,000 13 offers
10607 Glenview Listed at $1,099,888 Sold for ~$1,150,000 17 offers
21330 Columbus Listed at $1,298,000 Sold for ~$1,330,000 7 offers
10250 Mann Listed at $895,000 Sold for >$1,050,000 30 offers
883 S. Tantau Listed at $685,000 Sold for $740,000 9 offers
76 Arcadia Listed at $768,000 Sold for ~$840,000 27 offers
To all of you sellers, hear this, it is an incredible time to be selling. To all of you buyers, selecting an agent who has the skills to get your offer accepted in this competitive buying environment is paramount. Some buyers think discount agents who rebate a percentage of their commissions are the way to go. But the likelihood is that a discount agent, will not help you win in this tough battle. X percent rebate of zero wins is still zero if your offer is not accepted. Be wise and pick an agent experienced in winning in this environment. Oh why yes, I am one of those experienced agents. Call me now and I can help you develop a winning strategy. Connie 650-279-7074
Another Homebuyer Tax Credit for Californians
Late this afternoon, Gov. Schwarzenegger signed Assembly Bill 183, the Homebuyer Tax Credit legislation, into law. AB 183 will provide $200 million for home buyer tax credits, allocating $100 million for qualified first-time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes. The eligible taxpayer who purchases a qualified personal residence on and after May 1, 2010, and on or before Dec. 31, 2010, or who purchases a qualified principal residence on and after Dec. 31, 2010, and before Aug. 1, 2011, pursuant to an enforceable contract executed on or before Dec. 31, 2010, will be able to take the allowed tax credit. The credit is equal to the lesser of 5 percent of the purchase price or $10,000, in equal installments over three consecutive years. Under AB 183, purchasers will be required to live in the home for at least two years or forfeit the credit (i.e., repay it to the state).
The positive impact of the federal home buyer tax credit is clear. Nearly 40 percent of first-time home buyers said they would not have purchased a home if the federal tax credit for first-time home buyers was not offered, according to C.A.R. research conducted last year.
The state’s previous home buyer tax credit program was so successful that it ran out of tax credits by the end of June 2009, eight months before it was set to expire and just as housing markets appeared to be turning a corner. Unlike last year’s legislation, AB 183 adds a tax credit for the purchase of an existing home by a first-time home buyer.
Why I Love Real Estate: On 1031 Exchanges
Eleven years ago I left my high tech marketing job for the world of real estate. The huge difference in careers for me is the personal connection I can make with my clients and how I have a immediate tangible feedback of how I make a difference in their lives. Here are some really nice words written by a client of mine who hired me to help them with some of their real estate investments. It is so nice to be appreciated. Thanks Diane. XOXO.
We wanted to sell our single-family home investment property in Cupertino and purchase a multi-residential building on the Peninsula. I had known Connie through volunteering at our children’s school. Thinking she would be as diligent in real estate as she was in her volunteering, we hired Connie. She exceeded our expectations. We were worried how the market would react to our Cupertino home as it was on a busy street. Connie led the efforts to make sensible updates to the home prior to putting it on the market and did a fantastic job in the contract negotiations. We ended up getting multiple offers and selling the home for more than we expected. On the buy side, Connie sent a mailer to all apartment building owners whose property fit our criteria. When we found the apartment building we wanted, we felt that she looked out for us, making sure all the information we needed to make a purchase decision was there before we committed, and we got the building for under asking price. She managed the 1031 Exchange coordinating with the exchange and title companies without a glitch. We were very pleased with Connie’s service. We’ve been recommending Connie to everyone who has mentioned selling/buying, including our neighbors, who recently said they were thinking about talking to a few realtors to see what they might get for their house, and the next thing we knew the new owner is moving in, and we’re pretty sure our (former) neighbors never talked to another Realtor after they met Connie! If you’re thinking of selling/buying, just take a few minutes to talk to Connie and you’ll be convinced that she can represent you brilliantly. Diane and Harold Wachs – Los Altos Hills
What is MDA/MFA with respect to Los Altos Hills real estate?
Understanding the constraints of remodeling and new construction in Los Altos Hills should be considered before you buy a house in Los Altos Hills. The Town relies extensively on calculations commonly known as MDA and MFA in determining the maximum size house you can build and also how much impermeable space (hard scape) you can have on your property.
Controlling the MDA, or maximum development area lets the town protect the hillsides against too much run off and erosion and also helps to retain the rural natural setting for which the town is revered. Typical MDA for the standard one acre lot is 7,500 square foot. This varies depending upon the slop of the lot and other factors. Items that are included in MDA include concrete walk ways, paved driveways, tennis courts, pools and patios. You can get an allowance for more MDA by using pavers that have holes in them through which grass can grow or gravel or other means.
MFA stands for maximum floor area ratio. Like MDA, MFA can be pretty complicated. Floor area, as per the official town document, “shall be defined as the gross horizontal area of the several floors of all buildings, including garage and carport spaces, measured to the outside of exterior walls.” Basements, if they fit the town definition of basements , are not included. Typical MFA on a standard acre lot is 5,000SF. This can be complicated and usually requires a survey to determine the exact MDA and MFA.
It is best to reference the town documents and work with a planner to be certain of your constraints. For more information see the Town’s worksheet and info at http://www.losaltoshills.ca.gov/doc-browse/doc_details/144-mfa-mda-worksheets
Ten Characteristics of a Great Realtor
Ten Characteristics of a Great Realtor:
- A great Realtor has time for you. They don’t try to wow you with the dozens upon dozens of listings they have sold. They manage your home sale or purchase personally and are the single point of contact for you. They answer your calls within a few hours and make you feel as though yours is the only home sale or purchase on which they are working. Your sale is never delegated to an assistant for important tasks.
- A great Realtor shows you how they are going to market your house using a completely integrated marketing plan that includes, print, a strong internet presence, direct mail and word of mouth. For print pieces, your house gets more than a postage stamp sized mention. For internet, your home is syndicated on as many web sites as possible and you have your own property specific web site.
- The best Realtors are honest about the price they expect your home to command. The Realtor who tells you your house has the highest value is not necessarily the Realtor who will get you the most money. It is well known among Realtors that there are Realtors who ‘buy the listing’ by telling you an artificially indefensible number you want to hear, not one that the market may bear.
- Hire a Realtor who walks the walk, not just one who talks the talk. It is amazing the number of Realtors who rent the house in which they live. A December 2008 study by Realtor magazine said only 41% of all Realtors own investment property. Would you hire a stock broker who owned no stock? Until a Realtor has been in your shoes, they cannot fully advise you.
- A great Realtor belongs to a reputable brokerage. The brokerage represents the Realtor’s support structure for you. Do they have a market presence that can attract buyers? Do they offer their Realtors legal support, training and advertising assistance that can insure your house is sold in a legally sound manner and for the highest price? Real estate companies with only a handful of Realtors typically do not have the kind of infrastructure that can protect you and get you the best price for your home. Nor do they have the network of agents who can get the word out about your home.
- A great Realtor earns every cent of her commission and strives to keep it as vehemently as she strives to get you the highest possible price for your home. If Discount Realtors are so quick to discount their own fees, how do you think they will be in standing up for you during a hard negotiation to get you a great price for your home?
- A great Realtor knows your neighborhood. They can quote the statistics of what is selling, why and where. They know the schools, the stores, where to get a dog groomed, the traffic patterns and what the hot issues for the town are. They know how far the parks are from your home. In short, they know everything about your neighborhood so they can do the best job of selling your home.
- A great Realtor has a track record of successful negotiations. When you interview a Realtor, as her to recount a story or two about a really tough negotiation she has had and how she succeeded in getting what their client wanted. If you get a deer in the headlight type response to this question pick another Realtor.
- A great Realtor probably has some advanced designations. Approximately ninety percent of Realtors have a Salesperson license while the balance has a Broker designation. Brokers have to go through a more rigorous exam studying more Agency law, Disclosure law and other things that make them better able to navigate the complex process of buying and selling a home. The National Association of Realtors currently offers 23 additional designations in a variety of specialties that require the designee to have additional matriculation and continued study. The more a Realtor knows, the more they can make the process smoother for you.
- 10) A great Realtor gives you a defensible, comprehensive market analysis to support their price and marketing recommendation.
I can make the buying and selling experience great for you. Call me and I can help. Connie 650-279-7074
How is a Realtor Paid?
Getting the most out of your Realtor might be as easy as understanding how Realtors are paid. The majority of realtors are self-employed individuals who are on 100% commission. They work hard and don’t make a cent until you close escrow on your house. They typically pay all of their own advertising and overhead expenses and give a percentage of their earnings, based on volume sold, to the brokerage they hang their license with. If you are working with one Realtor from a given brokerage and then switch to another Realtor within the same brokerage, that first realtor makes nothing. It does not matter that they have the same logo on their business card. They are self-employed.
It is common for buyers to go through a process before they actually figure out what they really want to buy. The best realtors work as hard for you as you are loyal to them. If you are playing several realtors simultaneously, the odds of their hard work paying off are diminished by the number of realtors you call. If you show your loyalty to a realtor, they will reward you with theirs and put you first.
Some buyers think they can get the best deal if they work directly with the listing agent and that they don’t need representation. That is not my experience. The sellers in the sale of a house pay the commission. Usually half of that goes to the realtor representing the seller, the other half, to the realtor representing the buyer. Typically, this is 3% for each side. Buyers who employ this tactic feel that they can get the listing agent to discount their commissions since they would make commissions on both sides of the transaction and have commissions to give away. I would caution a buyer against this unless there is incredible goodwill on each side and the paperwork is more of a formality. But typically, there are price negotiations and repairs that need to be negotiated. Why would a listing agent favor a buyer in any negotiation? You might get one percent of the purchase price in commissions back if you are lucky, but you have no one looking out for you in the process. Why risk one of the most important purchases of your life to one percent of the purchase price? It makes no sense. You need someone looking out for you and no one else. Get your own buyer’s agent.
Interview a few realtors. Pick one whose communication style matches yours. Do they keep the hours you do? Are they proficient in email and texting like you might be? What response time do you expect? Find someone who is knowledgeable about the area(s) you are interested in. For example, if you are looking for a Los Altos Realtor, find someone who lives there. Their office might not necessarily be there but they have to be able to articulate all the details of why certain areas are better than others. If the agent you start with is not working out for you, be fair and tell this to the realtor before you begin the dance with another one.
About Me
Connie Miller
- Trusted
- Experienced
- Proven Negotiator
Contact Me. I can help.
Email or phone 650-279-7074