Dave Blockhus

Arjun,

So let me get this straight. You want to buy in a neighborhood that you think isn't good with a school district that isn't good either and you are questioning yourself? Hello, I think you answered the question yourself.

In a soft market, less preferred neighborhoods sell based on price. In this market, I would buy in the best neighborhood that you can afford (and maybe this neighborhood is). By best, I am talking good schools, good proximity to stores, work etc. and primarily an owner occupied home neighborhood. - Thu Nov 13 2008, 13:57

Joe,

Condos with shared underground parking do well if they are in a good location. Probably the best condo complex in downtown Los Altos is Chartwell (3rd street) and it has underground parking. However, units above the automatic garage door are less desirable (noise).

Pennisula Real's location is marginal because it is located on busy street and is quite far from downtoan Los Altos and it's quaint shops. What you have at Pennisula Real is close proximity to the strip malls and traffic on El Camino. Not too desirable! It's biggest advantage is it is new, but that advantage will disappear quickly.

In this market, I would look closely at location as a key buying criteria.

Good Luck - Sun Nov 9 2008, 16:08

Vickie,

I have one child who went through Springer and one who is currently enrolled. The school hours depend on the age of the child. In general, the earliest the kids start class is 8:27 a.m. and the latest they get out is 2:45 p.m. You need to provide residency within the school's boundaries or apply for a transfer from another Los Altos school. (based on availabilty). Your child also needs to have all his/her immunizations up to date. For more info, the website for Springer is http://www.springerschool.net/ and the Los Altos school district web site is http://www.losaltos.k12.ca.us/index.html. - Mon Nov 3 2008, 21:18

Denverfan,

For $3500. you should be able to get something in either the Cuesta Park neighborhood or Waverly Park neighborhood (west of El camino real). There is also possibilities to get a home in Mountian vVew with Los Altos schools (best in the state for K-8). If you would like, I can make an annoucement in our office meeting and network with a few other agents in town (next week) to see if there are any pocket rentals that are comming up taht might meet your needs. - Mon Nov 3 2008, 14:46

Chand,

I totally agree that the buyer should not be under any pressure from his/her agent. The process itself has enough of pressure inherently. The agent's job should be to provide the information to aid the buyer in that decision. If the buyer chooses not to take that advice, that's the buyer's choice. If the buyer consistantly chooses not to take the agent's advice, then there isn't a match and each should go their separate ways. - Fri Oct 31 2008, 07:50

Chand,

As with all agents, there are some good and some bad. Unfortunately, you have had experience with agents who aren't that knowledgable and/or professional. I think the Redfin model can work if you are an experienced buyer who doesn't need local information to make a decision and you understand the process. For you it might make sense. However, a local (and active in the market) agent can and does provide knowledge that can be invaluable in helping you in correctly determining an offer price and strategy.

For example, I doubt a Redfin agent (or should I write any agent who is not active locally) could tell you about the last several sales (details) that were used in the valuation of the target property. Who were the listing agents and what is their reputation when it comes to marketing homes (some agents strategically price homes under market to get bidding up)? Were there multiple offers and what were the offers. How were the offers handled (some agents shop offers). Did a frustrated buyer, who was tired of losing houses, completely overbid just to get the house? (I've seen it happen).

My point is, active agents network with other agents within the same realtor community. For good or for bad, if you're not part of that community, you miss out. The information obtained can be invaluable to a buyer. Without that local knowledge, the buyer (and his/her agent) is left to looking online for "the comps." What they don't get is the meaning behind the comps which is more valuable. That is why it is to my seller's advantage when an out of agent brings in an offer. I can work that agent up because he/she doens't truely know my market. I'm sure you've heard the phrse "knowledge is power." We'll in real estate, knowledge is money.

Understanding that your prior agent's may have pushed you to a higher price in your offers and "yelled" at you, they should be fired. And maybe your agent was local, had good knowledge and may have been greedy, unethical or fill in the blank. However, a buyer has ultimate responsibility for what they put on paper. What was your responsibility in the process. Did the agent on your Santa Clara purchase put a gun to your head and say buy! I doubt it. If you went soley on your wishes, would you have "won" and got the home? Possibly. I think you might have a better taste in your mouth (and had better memories about the process) had the market continued to go up. Unfortunately it hasn't. Next time I hope that you'll be able to buy under market and sell for a premium. But ultimately it falls on your shoulders to hire the best agent for you (and maybe that means that you don't hire an agent at all). To your future success! - Wed Oct 29 2008, 21:35

Pearl,

Interested in what you thought was "tacky and immature"? - Mon Oct 20 2008, 11:22

Scott,

Attached is a news release yesterday about Redfin recent troubles.

http://blog.redfin.com/blog/2008/10/a_very_tough_day.html - Tue Oct 14 2008, 15:39

Scott,

Obviously your are thinking of hiring a Refin agent and want to see how the general real estate community feels about Redfin. Their brokerage model is different, ...$4,000 to "list" a home with Redfin. As with any agent you hire to market, negotiate and sell your home, you want to make sure you are hiring the best one for the position.

What you need to decide is whether Redfin can provide you the level of service and expertise that you need to sell your house. Or you can hire someone who has more local experience but might have a higher fee structure. Do you actually save more by hiring someone who might be less experienced but is cheaper or do you hire someone whose fee is more expensive but because of their expertise and local knowledge will net you even more? Loaded question huh!

If you look at the Redfin site and their agent profiles, three of the four agents list Mountain VIew as a "highlighted city" (presumably they are claiming to have experince in selling homes in mountain view), yet only one has recently sold anything in Mountain View (a $490K condo). Delving further, the agent who sold the condo has only had his real estate license since February 2006. In this instance, I would argue against Redfin's claim about "experienced agents" because I'm not sure having been in the industry for under 3 years is what I would call "working with our experienced team of real estate agents."

When talking with the Redfin agent (or any other agent for that matter), I would ask them what their experience is in selling properties in Mountain View similar to yours. The one agent who has sold a mountian view condo has only been in the business for 2+ years. What down cycle has he been through to help guide you through this one? Are Redfin agent's (or any other agent) familiar with the local Buyer's agents and their practices. Remember real estate is local and has local business practices. Your agent must be familiar with them.

The best thing that I could recommend is to check out any agent (whether Redfin or not) thoroughly. You only get one chance to maximize the sale of your property and money in your pocket.

Lastly, some agents may not show other brokerage's listings for a variety of reasons: a perception of not getting paid correctly (discount brokerages fee structure), having to deal with inexperienced agents (makes more work for the buyer's agent), unethical past dealings with broker, etc.). This is wrong and these agents shuld be booted form the industry. Unfortunately there aren't any good systems in place to boot them.

Personally, I will show and sell any property that is 1-4 units in our local area. - Fri Sep 19 2008, 09:48