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HomeFolio: Palo Alto Atherton Los Altos Hills Menlo Park Mountain View Volume 2 Issue 7
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AWARD WINNING MARKET REVIEW
2015MARKETREVIEW.com
Happy Holidays At the near close of another year, we gratefully pause from the hustle and bustle in the Silicon Valley to wish you Happy Holidays. From my home to yours, I hope you have a merry holiday season and a Happy New Year! Thank you!
(650) 701 7822
SILICONVALLEYANDBEYOND.com
DAWN THOMAS
BROKER ASSOCIATE
Help when you make the most important financial decisions of your life.Opes Advisors is licensed by the CA Department of Business Oversight 4150089 under the California Residential Mortgage Lenders
Act, Oregon ML-4902, Washington CL-1178435 and NMLS 235584. Equal Opportunity Lender. Opes Advisors is a registered investment advisor with the Securities and Exchange Commission (SEC). ©2014 Opes Advisors, Inc. All rights reserved.
2875 El Camino Real, Palo Alto, CA 94306
650.319.1600www.opesadvisors.com
At Opes we take pride in our relationships with Realtors®. With financing options like our Bridge Loan program, we help you put a client’s dream home within reach.
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A new component of the Silicon Valley REALTORS® Charitable Foundation was honored on September 23, 2015 at the Palo Alto Hills Golf & Country Club. More than 150 members enjoyed live music, drinks, and hors d’oeuvres while bidding on auction items. The event raised more than $45,000 for the SILVAR Veterans Scholarship Fund, a new inititiave that honors local veterans with military histories spanning the 1950’s through Desert Storm.
This new scholarship fund will support eligible U.S. veterans and dependents of deceased veterans residing in SILVAR’s traditional service area of Silicon Valley, Menlo Park, Atherton, and other cities in the San Mateo and Santa Clara counties who wish to continue their education. SILVAR’s president, Chris Isaacson, welcomed the guests to the event. Lehua Greenman, SILVAR Membership Committee Chair and Silicon Valley REALTORS® Charitable Foundation Trustee, organized the evening, and also served as the Master of Ceremonies alongside Joe Simitian, Santa Clara County District 5 Supervisor.
“We encourage our community to care enough to say thank you [to veterans] and tangibilitize our appreciation for their service,” said Simitian.U.S. Representative, Anna Eshoo, presented the Certificate of Special Congressional Recognition for outstanding and invaluable service to the community. The presentation preceded the recognition of all attending U.S. veterans. Over ten veterans described their branch, achievements and were honored for their service.
“Getting an education is one of the things that can help us lead a fuller life,” says Tom Gordon, guest speaker and U.S. Air Force veteran (1984-1988). “When veterans come home there are gaps that are gradually getting better and the largest gap was education.”
The inspiration for the scholarship event spawned from a desire to aid the large population of veterans and military families living in the mid-peninsula area. The event’s proceeds will go towards Silicon Valley REALTORS® Charitable Foundation and be earmarked for the SILVAR Veterans Scholarship Fund. The scholarship recipient must use the scholarship towards a college within the borders of Woodside to Los Gatos.
“Education is one of the three criteria that would qualify a charitable grant or contribution considered by the Foundation. The three criteria are education, housing and children. We have never had an event to honor our veterans,” says Greenman. “Many veterans no longer have education benefits. There are veterans who would like to further their education goals but need financial support. This seemed like the perfect way to help them achieve those goals.”
The Charitable Foundation has funded scholarships and presented to students for over 16 years. The organization looks forward to expanding their aid to local veterans.
The event was generously sponsored by Menlo Park-Atherton District, Palo Alto District, Los Altos-Mountain View District, Cupertino-Sunnyvale District, Los Gatos-Saratoga District, Silicon Valley Young Professionals Network, HomeFolio Media, as well as the SILVAR’s Membership Committee who planned the successful fundraiser.
By Melanie Klaren
The event was generously sponsored by Menlo Park-Atherton District, Palo Alto District, Los Altos-Mountain View District, Cupertino-Sunnyvale District, Los Gatos-Saratoga District, Silicon Valley Young Professionals Network, HomeFolio Media, as well as the SILVAR's Membership Committee who planned the successful fundraiser.
SILVAR Honors Local Veterans with Scholarship Fund
Selling Successfully for Over 20 Years!
Thank You for a Great 2015!
Cal BRE# 01138400
650.218.4337
Go to URL below or scan the QR code for video tourhttps://youtu.be/awUEtWXw-4Y
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GIVE YOUR HOME THE EXPOSURE IT DESERVES...
Local expertise with global reach
650.888.8268 408.218.7522
Daphne visits China,
Taiwan, Hong Kong, and
Singapore several times
a year to promote her
listings by speaking
at large US luxury real
estate seminars and
participating in numerous
real estate expos.
To reach national and
international luxury
audiences, your listing
is advertised on selected
websites such as
LuxuryPortfolio.com,
LuxuryRealEstate.com,
WSJ.com, CaiMeiJu.com,
and China.apr.com.
License# 01452752
Daphne Chou & Alain Pinel Realtors
a brand name you can TRUST!
DAPHNE CHOU, Ph.D.
周靖芠博士
WeChat & Line ID: drdaphne
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22 Los Altos Square, Los Altos ~ Offered at $1,375,000GORGEOUS UPDATED TOWNHOME
398 Hawthorne Ave, Los AltosOffered at $1,998,000
SOLD
50 Parsons Way, Los AltosOffered at $2,599,000
SOLD
506 Orange Ave, Los AltosOffered at $4,895,000
SOLD
• Hardwood Floors• Inside Laundry, 2 Car Garage
• Formal Dining Area• Updated Kitchen,Granite Counters
• 3 bedroom, 2.5 baths,1568 sq.ft.• Spacious Living Room with Fireplace
The opportunity you have been waiting for. This 3 bedroom, 2.5 bath townhouse is located in the prime area of the complex. Featuring numerous updates, top Los Altos Schools , close to Whole Foods, Safeway and Starbucks. Los Altos Square offers tranquil living in an idyllic setting. 3 pools and clubhouse on grounds.
GARY HERBERTBroker
CalBRE#00762521
Thank You for Your Continuing Support!
Happy Holidays!
[email protected]#01360103
“I cannot overstate the fabulous service we received from Greg… his marketing plan was well thought out and executed and his negotiating skills were beyond expectations!” - Casey Havre
27 Sargent Ln, Atherton805 Magnolia St, Palo Alto2170 Emerson St, Palo Alto22345 McClellan Rd, Cupertino660 Seale Ave, Palo Alto2279 Santa Ana St, Palo Alto2642 Kipling St, Palo Alto2441 Hastings Dr, Belmont1357 Woodland Ave, Menlo Park1600 Courtland Rd, Belmont3817 Magnolia Dr, Palo Alto1519 Escondido Way, Belmont
Wrapping up 2015... 179 Bay View Dr, San Carlos904 Chevy St, Belmont1631 Francis Ave, Belmont135 Manor Dr, San Carlos3416 Lodge Dr, Belmont2604 Lincoln Ave, Belmont18 Arch Lane, San Carlos173 Elwood St, Redwood City3303 Dover Rd, Redwood City164 Beach Park Blvd, Foster City4024 Farm Hill Blvd, Redwood City
“He did everything humanly possible to make our house shine and as a result, we got 8 offers over asking.” - Lester Lee
Derk BrillCall Derk to schedule a one-on-one meeting at
CELL 650.814.0478Alain Pinel Realtors
578 University Avenue, Palo AltoCalBRE# 01256035
www.DerkBrill.com
Looking for the LOCAL advantagefor selling or buying Real Estate?
Call Derk to learn how his LOCAL advantage benefits his clients.
920 Hamilton AvenuePalo Alto
Sold for $8,650,000Represented Buyer
1084 Fife StreetPalo Alto
Sold for $3,250,000
2240 St. Francis Drive Palo Alto
Sold for $2,065,000
101 Waverley Street Palo Alto
Sold for $5,000,000Represented Buyer
1114 Blue Lake SquareMountain View
Sold for $1,850,000
1130 University AvenuePalo Alto
Sold for $3,575,000
202 Pope Street Menlo Park
Sold for $2,950,000
13171 Lorene CourtMountain View Sold for $3,100,000
1350 Miravalle AvenueLos Altos
SOLD SOLD
1341 Stone Pine Way Menlo Park
Sold for $1,975,000
SOLD SOLD SOLD
SOLD SOLD
SOLDSOLD SOLD
Sold for $4,250,000
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Please Call For YourComplimentary
Home Market Evaluation!
My sincere thanks for your continued support of my business over the past year.
Wishing you a happy holiday season and the very best for 2016.
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Joe’s background, experience, and savvy business acumen provide a solid background to help buyers and sellers reach and achieve their goals.
Trust | Experience | Results
[email protected] | JoeParsonsRE.com
CalBRE#: 01449421
1050 LOUISE STREET, MENLO PARK | CALL FOR PRICE
Construction Underway!....Beautiful New Custom Home being built in Central Menlo Park; Architecture, Planning, and Permits Complete. Add Your Own Personal Touch.
Ready Summer 2016. Contact Listing Agent for more information.
Lovely home with remodeled kitchen & family room; living room and separate dining area. Landscaped back yard area with Bar-B-Que patio area. Close to Woodside
Plaza, shopping, restaurants and easy access to highways 280 & 101.
1437 ALAMEDA DE LAS PULGAS, REDWOOD CITY | $1,495,000
SALE PENDING
David Weil, Realtor®Luxury Property Specialist
650.823.3855 | [email protected] | License: 01400271
Happy Holiday’s and many thanks for
your continued friendship and support!
CHEER
PEACE
HAPPY
AND MERRIMENT FILLED WITH SMILES
TO YOU & YOURS THIS SEASON
DAYS AHEAD FOR A WONDERFUL NEW YEAR
Menlo Park | Palo Alto | Burlingame | 650.314.7200 | pacificunion.com
Wishing you a Happy Holiday Season from Pacific Union, the Bay Area’s leading luxury real estate firm.
650.948.1100 www.DavidBergman.com
[email protected]#01223189
Designed and built with meticulous detail, nothing was overlooked in this masterpiece. From the moment you step in the door you are surrounded by understated elegance. Brazilian granite counters, limestone floors, Subzero, Fisher Paykel, and Miele appliances create a cook’s kitchen. Five bedrooms and six and a half bathrooms including a large master suite with fireplace, TV with surround sound, separate closet room and spa-like bath with steam shower. With a nine seat movie theater, exercise room, game room, wine cellar, Japanese teahouse style guest house with garden, a pool cabana equipped with full outdoor appliances and cabinetry, and Los Altos Schools, this estate has everything.
One-of-a-kind Estate in Los Altos Hills
www.ExceptionalLAHestate.com • Offered at $13,888,000
Cover Home
For an incredible video including aerial footage visit the website: EstateLAH.com
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DAVID [email protected]#01242399
HEIDI JOHNSON650.868.3714
[email protected]#00379463
5 BR/3 BA | 3550 Sq. Ft. | 3.016 acres | Built in 1957
One of the finest locations in Central Woodside, this 3 acre parcel offers the rare opportunity to renovate or build your dream home on the private Mountain Wood Lane. Stunning Western Hill Views, surrounded by majestic trees, great light, very private, access to private equestrian trails, this property has it all. This is an estate site for your most discerning buyer. Existing 5 bedroom/3 bathroom home is usable for living or rental during your planning process with the town.
OFFERED AT $7,775,000
www.245MountainWoodLane.com
Rare Opportunity245 Mountain Wood Lane
Woodside
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• 6,362 +/- SQFT• 2.45 Acre Lot• Custom High End Construction• 12” exterior walls; upgrades throughout• 4 En-Suite Bedrooms• Luxurious Master Suite• Exquisite Music Room/Library • Pool, Spa & Pond• Serene, Private and Quiet with Spectacular City Views and Valley Views• Palo Alto Schools• Close to Stanford University
Offered at $7,998,000
2 7 8 8 6 V I A V E N TA N A WAY I N L O S A LTO S H I L L S
www.27886ViaVentana.com
MATT ZAMPELLA
Peninsula: (650) 223-9343San Francisco: (415) [email protected] # 01815607
CINDY MUELLER
(408) 691-9355
CalBRE # 01979476This information was supplied by reliable sources. Sales Associate believes this in-formation to be correct but has not verified this information and assumes no legal responsibility for its accuracy. Buyers should investigate these issues to their own satisfaction. Buyer to verify school availability.
CERTIFIED RESIDENTIAL SPECIALIST | CERTIFIED RESIDENTIAL BROKERS
NUZZO TEAM
lice &
licia
Alicia [email protected]#01127187
Alice Nuzzo650.504.0880
[email protected]#00458678
www.teamaliceandalicia.com
Happy HolidaysWishing all a
happy and heal thy Holiday Season and a prosperous
New Year
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Call or visit our website:jeanandchris.com2969 Woodside Road • Woodside, CA
Jean Isaacson650.387.8427
[email protected] #00542342
Chris Isaacson650.352.3430
[email protected] #01754233
12.2.15
Front row: Eva Joseph – Escrow Assistant Nancy Domich – Senior Account Executive
2nd row: Kimberly Phillips – Escrow Assistant Joann Cuneo-Daw – Branch Manager – Escrow Officer
3rd row: Linda Michel – Escrow OfficerKathy Smith – Escrow Officer
LOS ALTOS BRANCH167 S. San Antonio Road, Suite 5 • Los Altos, CA 94022
Phone: (650) 941-5700www.ortc.com
Wishing y� health and happiness in 2016 �� �r Los Altos Staff!
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22
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• New custom Craftsman style home • 4 spacious Bedrooms with vaulted ceilings • Downstairs Bedroom, adj. bathroom with walk-in shower • Great for extended Family Living• Open Kitchen with large island perfect for entertaning
• Great Room with Nana glass walls • Natural light with ideal Southeastern Exposure • Backdrop of Mature Redwoods• Beautifully designed and crafted with top quality materials • Nearing Completion
PRIME WEST MENLOCOMING SOON
REAL ESTATEADVISORS & BROKERS
STEVE PIERCE650 533 7006
[email protected] # 00871571
WHY ARE THERE
NO HOMES TO BUY?
ZANEMAC.COM
Would-be buyers commonly complain of high prices and a lack of homes to buy. Is this perception or reality? The trend line on the chart below confirms that home sales in the Mid-Peninsula have declined over the past twenty-plus years. As evidenced by the high incidence of multiple offers over many years, the decline is the result of a lack of supply, not demand.
From 1994 to 2006, the average number of sales each year in the cities cited was 2,355. From 2007 to 2014, it was 1,845, a 22% decline. The local economy was gangbusters in 2014, yet the number of home sales was lower than in any non-recession year over this period. Further, 2015 is echoing 2014 with YTD sales up only 1.8%.
It could be hoped that this is a temporary condition, though it appears to be a structural change in the marketplace. Simply put, there have been relatively few additions to the housing stock, and the number of home sellers is decreasing.
To understand this change, consider the four reasons why homeowners sell. (1) The home is the wrong size. It may be too small or too large to meet the owner’s current needs. (2) Death. (3) Relocation out of the area. (4) A change in financial circumstances. More resources may fuel a desire for change, while conversely, a financial reversal could force change.
For some potential sellers, the choice is voluntary and for others it is involuntary. The ranks of the former group are being depleted largely because of issues that flow from a lack of supply and the resultant strong appreciation and high prices.
HOUSE TOO SMALL: Homeowners who want or need more space face the same problems as any buyer – too few opportunities. Most are seeking a move-in condition home, not a project. This is difficult because much of the local housing stock is dated, functionally obsolete, or modest relative to the price. For those who need to sell first to buy their next home, the risk that they may not find the next home is a show stopper. (This has spawned a legion of reluctant remodelers.) This results in the classic downward spiral: cannot buy, therefore cannot sell; thus, fewer and fewer homes come to market.
HOUSE TOO BIG: This group is populated largely by empty nesters. Downsizers face the same issues as the up-sizers, and at the older end of the scale, there are limited retirement home options. Further, as people age, they are staying in their homes longer because they are healthier, living longer, and are the beneficiaries of support systems. (Think in-home care and Uber.)
TAXES: Due to healthy appreciation, many would-be sellers face a capital tax burden that is onerous, sometimes to the degree that the after tax equity is insufficient to make the move. In addition, a new home will come with a new property tax bill that may also dampen the desire to move. The longer one owns their home, the greater these deterrents.
INVESTMENT: After purchasing a new domicile, a growing number of potential sellers choose to keep their former homes for investment. Again the spiral: constrained supply pushes home prices and rents up, making homes a good investment, which in turn causes the supply of resales to be constrained further, and so on.
Over time, as the over-80 age cohort grows in size, more project homes will come to market. However, this will likely be more than offset by the other strangulating trends cited. In sum, under current conditions there is nothing to indicate that the decline in the number of homes available to purchase will abate, rather than exacerbate.
The region has long been characterized by a chronic shortage of housing. The growing shortage of resale homes is but another dimension of a profound and destructive housing crisis. Housing of all types, both rental and ownership, is needed to relieve the pain being suffered by many. This will take leadership and a cultural reset in those areas where there is resistance to change and loathing of density.
‘94
3000
2500
2000
1500
1000
500
0‘95 ‘96 ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘08 ‘09 ‘10 ‘11 ‘12 ‘13 ‘14
NU
MBE
R O
F SA
LES
YEARS
NUMBER OF HOME SALES 1994–2014 – PALO ALTO,
MENLO PARK, REDWOOD CITY, MOUNTAIN VIEW, LOS ALTOS
SOURCE: MULTIPLE-LISTING SERVICE
Rare opportunity to own a vineyard estate over ~10,000 sq ft | Private and gated | 5-bedrooms, 5.5-baths in the main residence | OfficeWine cellar | Theatre/game room | 1-bedroom, 1.5-bath guest house with caterer’s kitchen | Wine banquet room and cellar | Fitness Center |Pool and spa | Tremendous vegetable gardens, orchard, plus 150 Merlot vines | ~1.9 acres | Excellent location close to downtown Los Altos
650.941.4300195 S. San Antonio Road, Los Altos
Gary CampiOwner & Broker
CalBRE 00600311
www.campi.comLocal Expertise, Global Exposure
Bay Area Real Estate Broker with an Exceptional Reputation
INCREDIBLE CHATEAU VINEYARD ESTATELOS ALTOS HILLS | 24970OKEEFELANE.COM | $10,800,000
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SERAFINO BIANCHI & THE BIANCHI TEAMCommitted to Excellence
30 Years of East Bay Real Estate Experience!
Serafino & Pat Bianchi925.858.0649SBianchi@Pacunion.comwww.BianchiEstates.comLicense #: 01032324 | 01460551
Exquisite Mediterranean-style Home, Horse Facility & Family Compound
• Gated, flat 3± acre estate zoned A-2 allowing MULTI USES for this outstanding property• Single level Mediterranean-style, 4BR/4.5BA, office/library, 5000± sq. ft. with attached 1000± sq. ft. extra large 4-car garage• Guest house offers matching stone & column entry, 1BR/1.5BA, 1000± sq. ft. with totally separate concrete back patio and backyard• Custom designed 7 stalls Barn, exquisite Brazilian Redwood Stalls, full paddocks, rubber paver flooring, full bathroom, hot/cold
wash rack, tack room & loft storage• The covered/indoor arena is approx. 120’x72’ brightly lit with sprinklers and engineered footing• This property also includes a Private Water system generating ample water for irrigation and home use
For more pics and full property details please visit www.5530JohnstonRoad.com Offered at $5,400,000
5530 Johns ton Road, Pleasan ton
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Arthur [email protected]
www.SVLuxre.com
650.804.4770cALBre: 01481940
1650 The Alameda | San JoseOne of the finest examples of a Julia Morgan design and the only one in San Jose was built for the lumber baron, James Pierce. This stunning home has been masterfully restored to its stately origin and gently transformed to serve as a professional office. The spacious and luxury residence/office offers ample space to impress associates and clients alike. The central location minutes from downtown, Caltrain, Airport and SCU is ideal for a live-work arrangement or professional offices.
Offered at $3,500,000
21976 Gillette | Los GatosGorgeous custom built approx. 1.4 acre estate just 10 minutes from town center, lake and Valley Views. 4000+ sqft open floor plan throughout. Additional 3 bedrooms and full-size baths all with low flow plumbing and top-quality fixtures. Space for a guest or nanny suite. Surrounded by 13.5 acres of green space and nature views from each window, 5 view terraces and decks.
Offered at $2,000,000
15690 Gum Tree | Los GatosViews of the entire Bay, City lights, Western Hills in one of the Bay Area’s most exclusive neighborhoods, over a 6 acre knoll top, modern 7200 sqft compound surrounded by a luxurious new development with homes priced at $5-$6 million on lots that are less than half the size.
Offered at $3,998,000
NO PLACE LIKE HOME FOR THE HOLIDAYS
SALE PENDING
Lynnewood Estate $1,995,000
Swallow’s Nest Ranch Sold For $2,425,000
Pleasanton - Imagine living on 4.97 acres in the west side hills with 4,256 sq. ft. of living space and 5 bedrooms/ 4 baths. The grounds consist of towering trees, a pool, stable and corral, oversized workshop and direct access to Pleasanton Ridge Park. Discover more at 2870FoothillOaksTerrace.com
Danville - Imagine owning this 20 acre jewel in the Tassajara Valley with a 5,100 sq. ft. home and guest house. Other highlights include a barn, pool, good well production and panoramic views of the valley. Minutes to Mt. Diablo State Park trailhead. Discover more at 2600FinleyRd.com
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Ann Marie Nugent,CLHMS, GMS925.260.8883|License#01230832
Jim Walberg, CIPS925.260.8800|License#01119801
www.TheBayAreaTeam.com
Specializing InCOUNTRY & EQUESTRIAN PROPERTIES
Opes Advisors is licensed by the CA Department of Business Oversight under the California Residential Mortgage Lending Act, License #4150089, Oregon ML-4902, Washington CL-1178435 and NMLS 235584. Equal Opportunity Lender. Opes Advisors is a registered investment advisor with the Securities and Exchange Commission (SEC). © 2015 Opes Advisors, Inc. All rights reserved.
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