Archive for the ‘Palo Alto, Mountain View, Menlo Park’ Category
November 7, 2007
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Here we are in week 3 of our series on county cost comparisons. We began with homes at or under $500,000, moved to the $750,000 price point last week, and now we have hit a cool mil (with search parameters between $990,000 and $1,000,000). I originally chose two cities randomly in each county (except for SF), and I am using the same cities each week to be consistent, and only single family homes will be analyzed (no condo, townhouse or TIC). And to reiterate: each price point from now on will have more than one property at or near that dollar amount, so I will be choosing one based on…what I myself would buy if I had to choose. This could be based on square footage, architectural style, location, or my favorite: a kick-ass kitchen. I realize this is a bit subjective (well, more than a bit), but there is no real objective way to do it that I could think of. Last week we had several people suggest that my choices were unreasonable or “horrible” because one had only 1 bathroom. While I disagree, should you think of a better way to do this, let me know in the Comment Section and I will reconsider my selfish ways.
Having reached the $1,000,000 category, we finally have a home to compare in Orinda, which strangely had no listings the last two weeks. Today Orinda had 2 between $990k and $1m and they were very different—a smaller 2/2 which is on a 31,0000 sf lot and a bit more remote and one that is slightly larger with 4 bedrooms on an 11000 sf lot. It was a tough call. Here is the full list:
Mountain View: 148 College Street, 4/3, 1873 sf, 15 acre lot $995,000 DOM: 8. I chose this home because I liked the computer-generated modern design, however there are quite a few contradictory things going on. The design looks new but the listing shows it as 50 years old. The map shows a standard lot, but the listing shows the home being on 15 acres (more like .15). It is a detached SFR but the listing shows that the “homes” are well appointed, but the neighboring home for sale at 154 College is nothing like this home, so I am unsure what “homes” they are referring to. Still, good chi and a full basement media room make this house a winner.
Santa Clara: 3303 Duke Court, 5/3, 2116 sf, 10,454 sf lot, $995,000 DOM: 31. Of the 3 homes between $990,000 and $1mil, this one seemed to have the best location, largest lot, and largest home. A traditional style home, it is located on a cul-de-sac and has a large yard with bonus playhouse.
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October 31, 2007
Sweet Digs Bay Area is now covering six counties: Santa Clara, San Mateo, SF, Marin, Alameda and Contra Costa. There is a lot of diversity in population, climate, and housing prices in each of these areas. I got to wondering what the dollar could buy in each county, so last week I began a series on county cost comparison. We began with homes at or under $500,000, and this week we move up to the $750,000 price point. I randomly chose two cities in each county (except for SF), and I am using the same cities each week to be consistent, and only single family homes will be analyzed (no condo, townhouse or TIC). And to reiterate: each price point from now on will have more than one property at or near that dollar amount, so I will be choosing one based on…what I myself would buy if I had to choose. This could be based on square footage, architectural style, location, or my favorite: a kick-ass kitchen. I realize this is a bit subjective (well, more than a bit), but there is no real objective way to do it that I could think of. Again, should you think of one, let me know in the Comment Section and I will reconsider my selfish ways.
In the under $750,000 category, there was actually one city which had no single family home listings at that price: Orinda. I find that amazing. I think that Pleasanton had the best matches and best bang for the buck today, with Concord coming in a close second.
Mountain View: 229 Palo Alto Avenue, 3/1, 1116 sf, 5662 sf lot, $749,000. This is a new listing and is described as a short sale. Homeowners seem to have made improvements or maintained home well since purchase. Near downtown, easy access to CalTrain, 101, 85, 280, Central Expressway and El Camino.
Santa Clara: 2101 El Capitan Avenue. 3/2, 1350 sf, 5663 sf lot, $749,999. Located off San Tomas Expressway, there is good access to 101, 280 and 880, as well as Central Expressway and El Camino. Home appears nicely cared for with good quality upgrades. Only possible downfall is that the home may be located in a landing pattern for San Jose Airport.
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October 24, 2007
Sweet Digs Bay Area is now covering six counties: Santa Clara, San Mateo, SF, Marin, Alameda and Contra Costa. There is a lot of diversity in population, climate, and housing prices in each of these areas. I got to wondering what the dollar could buy in each county, so starting today we have a 4-week series on county cost comparison. I have randomly chosen two cities in each county (except for SF), and each week I will explore different prices points ($500k, $750k, $1mil, $1.5 mil) to see what the dollar buys. I will use the same cities each week to be consistent and only single family homes will be analyzed (no condo, townhouse or TIC). Obviously each price point may have more than one property at or near that dollar amount, so I will be choosing one based on…what I myself would buy if I had to choose. This could be based on square footage, architectural style, location, or my favorite: a kick-ass kitchen. I realize this is a bit subjective (well, more than a bit), but there is no real objective way to do it that I could think of. However, should you think of one, let me know and I will reconsider my selfish ways.
Today, we start at $500,000. In researching, I found that Concord had, by far, the largest inventory of homes listed at $500k or under (238), while three cities did not even have one (Mountain View, Orinda and San Mateo).
Mountain View: There were no SFR at $500k or less
Santa Clara: 1645 Bellomy, 2/1, 864 sf, 3483 sf lot, $499,000: Near the University of Santa Clara, this is a cute updated Craftsman with a lot of charm.
Menlo Park: 1324 Sevier Avenue, 3/1, 1130 sf, 5750 sf lot, $485,000: This home is on the eastside of Highway 101 and needs a bit of sweat equity, but Zillow estimate is in the $700k range, so potential is there.
San Mateo: There were no SFR at $500k or less
San Francisco: 251 Montana, 2/1, 772 sf, 3750 sf lot, $500,000. In the Oceanview neighborhood and has a view. A short sale, the listing description shows it is being sold AS IS.
Novato: 1036 2nd Street, 2/2, 1120 sf, 7492 lot sf, $499,000: Located near the downtown, this is a good size 2 BR with upgrades on a larger lot with bonus attic room. Includes Jacuzzi.
San Rafael: 22 Bungalow, 2/1, 1300 sf, 4530 sf lot, $500,000: Also a good-sized 2 BR with Jacuzzi. This could possibly be the best candidate for staging that I have ever seen—you need to overlook the clutter to see the space.
Alameda: 1541 Paru Street, 1/1, 952 sf, 2508 sf lot, $485,000: Gotta say that the kitchen is a throwback with icebox latch cupboards (for pies? Produce?) and fold down ironing board closet. In good shape, with hardwood floors and interesting colors.
Pleasanton: 4070 Stanley Blvd, 2/1, 897 sf, 6250 sf lot, $499,500: 99-year-old charmer with potential. Cosmetic upgrades, maybe finish off the full basement. However it is close to downtown, sold AS IS, and seller does not guarantee that property meets city codes.
Concord: 5526 Sepulveda Court, 4/2.5, 2041 sf, 5600 sf lot, $499,000. The best bang for your buck, located near the Oakhurst Country Club. Thirty years old, remodeled kitchen, lots of upgrades.
Orinda: There were no SFR at $500k or less
Recent Sweet Digs Bay Area Posts:
This Crystal Ball Says…>25% Drop
SF: Backstage at the Sales Show
Penurious Prices in Pittsburgh
Drop in, Tune in, Buy in
Oakland Beats Berkeley For High-End Homes
Emerald Hills: Canyon Corridor
October 19, 2007
One of my favorite New Yorker cartoons says, “I had my own blog for a while, but I decided to go back to just pointless, incessant barking.”
But in my case, I’ll be leaving this blog to spend more time working on the documentary film, “Under Our Skin: The Untold Story of Lyme Disease.” (You can view a trailer at this website.)
Redfin’s Palo Alto territory will now be covered by the very capable real estate maven, Susan Brady.
Good luck in your house hunt!
Kris
Photo credit: Oh Joy Photography
October 16, 2007
In the last week, it appears that many Palo Alto homeowners decided to put their homes on the market –- “For Sale” signs are popping up all over. In a normal year, the best strategy would be to wait until spring to list a house, but some people may be betting on a sinking economy and they’ve decided to take a shot at selling now.
During the last two weeks, the Market Action Index dropped from 44 to 31, and the Median List Price fell almost $50,000.
Source: Altos Research for the week ending 9-28-07
October 15, 2007
Mountain View prices and inventory have remained about the same during the last two weeks, and the market is still in the “Warm Seller’s” zone. Mountain View prices started dropping in the late summer, and now conditions are pretty stable.
Source: Altos Research for the week ending 9-28-07
October 14, 2007
Buyers rejoice: Menlo Park is officially a “Buyers Market.” During the last two weeks, the Market Action Index dropped from 37 to 21. (The “Market Action Index” represents a 60-day rolling average of supply and demand.) The inventory increased from 71 to 90 listings. The median price is holding steady, as this new reality sinks in for sellers.
Source: Altos Research for the week ending 9-28-07
October 13, 2007
No, this is not a maximum security prison. It’s Palo Alto’s newest parking structure, located near the intersection of University Avenue and Alma. And next door, architect Joseph Bellomo is putting the finishing touches on its companion structure, the new Blockbuster building. And that off-kilter screening hanging off the cinderblock façade is not scaffolding – it’s a “design element.”
While I appreciate contemporary architecture, I find it irritating when the look-and-feel of surrounding structures are ignored.
These two structures literally create a bridge between the entrance to Stanford University — a gorgeous example of Italianate architecture with its carved stone, tile roofs, and arches – and a row of a pedestrian-friendly retail shops. Yet the architect ignored these architectural cues. No other buildings in downtown Palo Alto use such an abundance of unfinished concrete, rusted steel, and bomb-blast protection screening, which according to the manufacturer is guaranteed to give your building “a fortified urban edge.”
And why would any landscape architect plant prickly pear cacti at toddler eye-level near the entrance of a Blockbuster video store?
I do like the Haiku placards mounted on the side of the parking structure. This placard, which is hard to read behind the bomb-blast screening reads, “This pain that I feel,” and it says it all.
October 12, 2007
Miguel Helft of the New York Times recently wrote a fun article, “Rental Building’s Good Karma Nurtures Success,” about the amazing number of successful Silicon Valley businesses that got their start in the unassuming rental building at 165 University Ave in Palo Alto.
Past tenants of this entrepreneurial hot spot include PayPal, Google, eBay, Logitech (a computer peripheral manufacturer), and Danger (the company that created the T-Mobile Sidekick smartphone).
But is this karma or some kind of chemical reaction that simply happens when you mix entrepreneurial engineers, Stanford brainpower, and venture capitalists looking for the next great business idea?
The New York Times talked about this phenomenon in their editorial “The Death of Geography?”: “Silicon Valley continues to act as a leading incubator for high-tech start-ups. Once you have a critical mass of software engineers and venture capitalists attending the same happy hours, a certain ferment takes place. News spreads fast in person, not just on MySpace. As a result, a city with a strong concentration of companies and a trained labor force — like New York in finance — can maintain its position within an industry.”
And this is why, despite the insanely high real estate prices, start-ups like Facebook keep popping up Palo Alto.
Photo credit: Noah Berger for The New York Times
October 9, 2007
I just found another new listing under the MLS radar at 1750 Bryant St, in a great Old Palo location on a quiet, dead-end street. It’s on a huge 200 ft. by 100 ft. lot, with 4 bedrooms, 3 baths, and a 525 sq. ft garage. According to the listing agent, Hanna Shacham (650) 752-0767, it has “resort-like grounds” with a pool and Jacuzzi.
The house is listed for $8,495,000, which seems a little high to me, but it is on a double lot, and it appears to have been remodeled to perfection. As a bonus, they’ll throw in the two giant Sequoias in the front yard for free.
