Fall Real Estate 2018

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Real Estate

Fall/Winter market might favor buyers page 14

Community Center charms page 32

A LM A N AC

Reaching the ultra rich

Realtors tell of efforts to sell high-end homes page 6

Whether you’re buying or selling in this competitive market, Elaine White is your best advocate.

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“Elaine makes it her job to get to know her clients on a personal level.

She clearly understands our likes and dislikes, our family goals, and our needs in a home. She always puts people ahead of business...very unusual in the real estate game. She is highly regarded by other agents, and provides exceptional customer service. We wouldn’t consider using another agent, and we would never make a move without Elaine.� —MJ C., Menlo Park (buyer and seller)

“Words can’t do justice to what a fabulous realtor Elaine is.

She helped me sell a home, and just recently buy a home. Elaine is the most organized, HIÀFLHQW NQRZOHGJHDEOH DQG VNLOOHG SURIHVVLRQDO , SUREDEO\ KDYH HYHU ZRUNHG ZLWK LQ DQ\ DVSHFW RI EXVLQHVV 1RW RQO\ LV (ODLQH D 5HDOWRU VKH LV DQ DWWRUQH\ 7KLV FRPELQDWLRQ LV H[WUHPHO\ KHOSIXO ZLWK DQ\ SURSHUW\ WUDQVDFWLRQ , OLNH ZRUNLQJ ZLWK SURIHVVLRQDOV WKDW NQRZ ZKDW WKH\ DUH GRLQJ JHW WR WKH SRLQW DQG JHW WKH MRE GRQH HIÀFLHQWO\ DQG SURPSWO\ WKDW GHÀQHV (ODLQH ¾ —Karin M., Los Altos Hills (buyer and seller)

“,I \RX DUH D SURIHVVLRQDO DQG ZDQW D WUXH SURIHVVLRQDO UHSUHVHQWLQJ \RX RQ HLWKHU VLGH RI D UHDO HVWDWH WUDQVDFWLRQ KLUH (ODLQH ,I \RX DUH QRW D SURIHVVLRQDO and not experienced in buying or selling your property, it is imperative that you hire Elaine. She simply knows exactly what she is doing, understands the PDUNHW NQRZV HYHU\ WRS UHDO HVWDWH SUR LQ WKH PDUNHW DQG ZLOO JHW WKH MRE GRQH LQ \RXU EHVW LQWHUHVWV HYHU\ VLQJOH WLPH ,W LV QR ZRQGHU VKH LV D WRS UHDOWRU nationwide for Coldwell Banker; best of the best.� —David K., Menlo Park (buyer and seller)

“Sometimes they go quickly and sometimes they drag out. But one thing is a constant - you do a masterful job.� —Joel S., Palo Alto (buyer and seller)

ELAINE BERLIN WHITE Top 1% of Coldwell Banker Agents Worldwide 1377 El Camino Real, Menlo Park 94025 ewhite@cbnorcal.com • www.elainewhite.com 650.566.5323 • 650.465.4663 cell CalDRE #01182467

Page 2 • The Almanac | Palo Alto Weekly

Broker Associate, Attorney at Law

www.facebook.com/EBWRealEstate

The Almanac | Palo Alto Weekly • Page 3

14 20

32

The story behind selling luxury homes

Seasonal trends What to expect in the Midpeninsula market this fall

36

Home rental market How agents set rents and find clients for houses

45

Neighborhood Snapshot: Community Center From parks to theaters and libraries, this enclave has it all

Browsing by Budget A look at Midpeninsula homes in various price ranges

FALL 2 0 1 8

Veronica Weber

6

Cover Story

32

Courtesy of Gary Campi, Sotheby’s International Realty

Real Estate

A Palo Alto Weekly and Almanac publication PaloAltoOnline.com • AlmanacNews.com

36

Market Watch Local multifamily projects under construction

Editor: Elizabeth Lorenz Designer: Linda Atilano On the cover: Homes like this one in Atherton, which are custom designed with many handmade interior touches, can take months or longer to sell. It’s up to the real estate agent to capture the essence of the home in marketing materials and to reach out to their networks to match homes with buyers. Photo by David Eichler Photography/Courtesy of Derk Brill, Alain Pinel Realtors Palo Alto.

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Fall is in the air - the market is still strong!

SEAN FOLEY YOUR ADVOCATE IN EVERY TRANSACTION!

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Atherton, Menlo Park Woodside or PV Nice home, 4-bedroom minimum $7,000,000 - $12,000,000 Central Woodside Up to $7,000,000 Family home, ECP DG Ć‚ZGT WRRGT Wants Woodside school Emerald Hills, Portola Valley, Woodside Up to $3,000,000 Young family wants more space San Carlos, Belmont, Redwood City Up to $2,200,000 Young couple, ECP DG Ć‚ZGT WRRGT San Carlos, Belmont, Redwood City Up to $1,600,000 Young family wants more space

1250 Canada Rd, Woodside On MLS, represented a seller $11,000,000, All Cash As Is & 7-day close of Escrow 497 Walsh Rd, Atherton On MLS, represented buyer $6,400,000, 7-day close of escrow Original asking price was $6,985,000 165 Phillip Rd, Woodside On MLS, Multiple Offers $5,105,000, represented buyer “Won it� out of back-up position 1171 Valparaiso Dr, Menlo Park On MLS, represented seller $4,650,000, All Cash, As Is No contingencies & 7-day Close of Escrow 242 Corte Madera Dr, Portola Valley Off Market, represented buyer $3,800,000, 7-day close of escrow Was on market 1-day and we got it!

732 Plymouth Way, Burlingame On MLS, represented buyer $2,165,000, 6-offers All Cash, 7-day Close 1808-1810 Roosevelt, Redwood City On MLS, represented seller $1,360,000, bid up with 4-offers All Cash, 10-day close, As Is

SEAN FOLEY

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The business of real estate

High-end price tags Realtors share how to sell homes to nation’s wealthiest .003 percent | by Elizabeth Lorenz

Page 6 • The Almanac | Palo Alto Weekly

“It takes a long time to absorb a property,” said Dulcy Freeman, a Realtor for Dreyfus Sotheby’s International Realty. This home’s fireplace was hand forged with multiple metals. Like many homes in this category, artisans were called in to create unique elements, from light fixtures to wine-cellar walls. Photos by Bernard Andre/Courtesy of Dulcy Freeman, Dreyfus Sotheby’s Real Estate.

How do you sell an Atherton estate priced at $10 million? What about a new modern home on a one-acre lot in Palo Alto for just under $20 million?

For starters, Michael Dreyfus, president of Dreyfus Sotheby’s International Realty in Palo Alto, said you have to know who your prospective clients are. Most clients in this echelon, whom he refers to as clients with “ultra-high” net worth, have a net worth of more than $30 million and make up only about .003 percent of the U.S. population.

This group expects certain “basics” — more than one master suite, bedrooms with their own bathrooms, a wine cellar, home theater and a large space to entertain. Often there is more than one kitchen, so that caterers or servants can prepare food without involving the main kitchen.

Once an agent finds these basics, then the art of selling comes in.

“Communicating a property’s value lies truly in understanding the ‘personality’ of the property, and above all, the details that make it unique,” said Dulcy Freeman, a Realtor for Dreyfus Sotheby’s who recently has been marketing a new home in Palo Alto.

Freeman and other agents selling homes in this bracket use similar marketing strategies.

All four agents interviewed for this article said meticulous attention to detail, from brochures

to web videos to relationships, must be handled with the privacy of the customers in mind (both buyers and sellers, often who are high profile).

That means, generally speaking, a run-of-the mill open house is out of the question. Showings are done by appointment, and web videos and floor plans are often password protected.

Drone flights over homes (to shoot aerial video of the property) is standard operating procedure and can cost anywhere from $5,000 to $15,000.

Freeman generally prefers to write her own copy for bound matte-finish booklets profiling properties she sells. Otherwise, she said, “Your competition has the same words.” She loves “wordsmithing” her descriptions, like this: “The property unfolds before you and just keeps unfolding.” She puts the reader (who hasn’t seen the home yet) in her shoes: “The abundant natural light is what hits you first.”

She uses her marketing materials, which include detailed descriptions of each room’s use, as well as color floor plans, to draw buyers in. But she uses the home itself to help potential buyers (continued on page 10)

Dulcy Freeman generally writes her own copy for marketing materials, describing a home like this for potential buyers.

Photo by Bernard Andre/courtesy of Dulcy Freeman, Dreyfus Sotheby’s

T

he Midpeninsula real estate market is hot, and homes often sell themselves with an open house and a glossy color flyer.

But no matter what market breeze is blowing, real estate agents say selling a multi-million-dollar home is a whole other challenge.

The Almanac | Palo Alto Weekly • Page 7

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The Almanac | Palo Alto Weekly • Page 9

2018 | FALL REAL ESTATE

This Atherton home took seven years for the seller to build, and it took Realtor Derk Brill about a year to sell. “It’s not a sprint,” Brill said of the selling process for high-end homes. Below left, the home’s gourmet kitchen. Photo by David Eichler Photography. Courtesy of Derk Brill, Alain Pinel Realtors.

High-end price tags (continued from page 7)

see themselves living there. She helps them imagine entertaining, working out, cooking, having food served and housing guests, parents or co-workers in the space.

“It takes a really long time to absorb a property,” Freeman said. In showing a home, she delights in pointing out views and different ways to use a space.

At one particular property, a modern home in Palo Alto’s Esther Clark neighborhood, Freeman rolled back the motorized pool cover, revealing a pristine blue infinity pool built into a grassy hillside.

She pushed back huge glass doors, inviting a visitor to see how a room can suddenly be

expanded with outdoor space.

She pointed out flush baseboards, specially crafted marble, electronically controlled lighting and a hand-painted bathroom wall.

“With each property, we aim to tell it’s unique story and position it to stand out,” Freeman said.

“The (total marketing) cost can fluctuate with each property, but it is generally 20 to 25 percent of the potential commission,” she said.

Agents who sell homes in the upper ranges all say patience is key. It’s not unusual for it to take close to a year to sell a more expensive home.

“It’s not a sprint,” said Derk Brill of Alain Pinel Palo Alto. “It’s a marathon.” The process involves reaching a certain kind of

Photo by David Eichler Photography/ Courtesy of Derk Brill, Alain Pinel Realtors.

Page 10 • The Almanac | Palo Alto Weekly

buyer, and that takes a long time, he added.

Brill recently worked with a seller who had spent seven years finishing a new Victorian-style home in Atherton that took about a year to sell.

To reach potential buyers, Brill created a brochure made of heavy card stock. He hired a photographer to shoot interior and exterior photographs, and made sure the copy pointed out the craftsmanship of the home (German cabinetmakers, Finnish stoneworkers) because those details draw in choosy buyers, he said.

He first advertised the home “off market” through word-of-mouth contacts, before listing it in the traditional Multiple Listing Service. He then used concentric circles in his network, slowly widening the circle, reaching out to past clients and agents who he knows and works with.

The eventual buyers, a couple with grown children, came out of a connection Brill had made with other real estate agents.

The couple had moved out of the area after their children grew up, but decided to return.

There are exceptions to the “marathon” model.

Judy Citron of Menlo Park’s Alain Pinel office sold an Atherton home with a tennis court (a highly valued commodity) for $10.375 million in a record nine days.

It really comes down to what buyers are looking for and matching them with a home.

For a lower-priced home, in the $3 million to $6 million range, Brill said he uses “inhouse” marketing, creating brochures using To market this home, real estate agent Derk Brill hired a professional photographer and created a brochure of heavy cardstock.

his company’s resources. For the higher-end homes, he hires an outside firm, often paying roughly $10 per 8-by-10 color booklet, and hiring a company that specializes in drawing floor plans to include in the material. Drone flights are another possibility, depending on the size of the property. Marketing for this type of home, he said, can cost between $25,000 and $100,000.

“It’s a very expensive proposition,” Brill said. “But what we’re trying to do is get the person to a house.”

Citron said she spends whatever it takes to sell a home.

“I give each home the same marketing exposure,” she said. For a larger, more expensive home, Citron said she will “ramp up the quality of everything in the presentation.”

She targets a range of publications that clients might read, and pays to go to the top of search engines online.

“You have to cast a really wide net,” she said. She often targets specific East Coast cities in Connecticut or New York that she thinks may have people who are interested in moving to Silicon Valley. “I target places that have high net worth,” she said.

Freeman and Dreyfus also use glossy publications, such as Architectural Digest, The Robb Report or Wired magazine, to advertise and reach prospective buyers.

“Direct outreach to our own proprietary database is also extremely important and often fruitful,” Dreyfus said. “The hard part of marketing a $20-million listing is that you are searching for a small crowd.

The good part is, once you get into this crowd, the outreach is not that large.” Q Elizabeth Lorenz is the Home and Real Estate Editor at the Palo Alto Weekly. She can be emailed at elorenz@ embarcaderopublishing.com.

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Market Trends 2018 | FALL REAL ESTATE

“There’s still room for (price) appreciation,” said Brian Chancellor, sales manager for Sereno Group in Palo Alto. Price escalation is inevitable on the Midpeninsula, given the region’s strong economy. Photo by Veronica Weber.

New adage:

Price, price, price Location and schools are still key, but if a home is presented right, it will sell

by David Goll

R

esidential real estate experts on the Midpeninsula don’t expect the market to continue spiraling into the stratosphere this fall, as it has for the past several years.

“I think we will continue to see increasing prices this fall, but at a slower rate,” said Lynn Wilson Roberts, a Realtor in the Menlo Park office of Pacific Union International. “No more 20-percent price increases.”

Brian Chancellor, sales manager in the Palo Alto office of Sereno Group, said price escalation is inevitable on the Midpeninsula, given the region’s continued strong economy and job growth.

“There’s still room for appreciation,” Chancellor said. “How much higher we go remains to be seen. We have political volatility and will see the impact of the recent tax cuts. Rents are high here and people would rather purchase homes.”

Well-located, well-priced and nicely presented houses in popular locations may not draw as many offers as a year or Page 14 • The Almanac | Palo Alto Weekly

two ago, but they still Brian attract plenty of interChancellor est, Chancellor said.

“The Midpeninsula is still the strongest residential real estate market in the country,” he said.

Zillow Group, the Seattle-based residential online real-estate database company, bolsters both Chancellor’s and Wilson Roberts’s points. In July, the median home price in East Palo Alto — a city that is one of the region’s comparative bargains — reached $980,500. That represents a 23.8-percent increase over the past year, with another 15.3 percent expected over the next year. Neighboring Palo Alto remains one of the area’s more expensive cities, with a median home price of more than $3.3 million, a 16.8 percent increase over the past year.

Chancellor said that after a slower summer season, activity tends to pick up significantly in September and October.

Interest is especially intense in entry-level housing on the Midpeninsula and Silicon Valley, ranging from about $1.3 million for an older 1,100-square-foot in Santa Clara to between $2.2 million and $2.5 million for a similar abode in Palo Alto, he said.

Seasonal home seekers this year are still favoring more urban locations within walking distance of schools, commercial districts and public transit, Chancellor said. Even employment centers — being able to walk, bike or have short commutes via auto or transit — is highly prized in the congested Bay Area.

“Palo Alto still has that cachet, Menlo Park excellent schools,” he said. “Any city with a strong, established downtown district is very much in demand. That includes Mountain View and Redwood City, which has done an amazing job of rejuvenating its central business district.”

He noted several employers have moved into downtown Redwood City, including Box Inc., a cloud content management and file-sharing company; and McKinsey &

Co., a business management consulting firm.

Inventory remains tight Though more homeowners historically do leap into the market in September, Ron Gable, manager of the Menlo Park office of Alain Pinel Realtors, said there is still only sparse home inventory at all price levels. This low supply is constraining activity. One of the major causes, he said, is homeowners’ reluctance to risk selling their homes, often because of a huge tax wallop on the other side of a sale.

What inventory there is for entry-level housing on the Midpeninsula — ranging from $1.5 million to $3 million — is in high demand this fall, Gable said. In a somewhat cooler market than the last few years, there are fewer offers for properties, he said.

Prospective home buyers come from many demographic groups, but he said affluent high-tech workers comprise the largest percentage locally. Though still in the local market, foreign investors comprise a smaller percentage of buyers in 2018 than (continued on page 16)

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The Almanac | Palo Alto Weekly • Page 15

2018 | FALL REAL ESTATE

Price, price, price the recent past. Chancellor said though the Chinese government is discouraging the flight of capital from the world’s largest nation, some Asian buyers are still interested in valuable Midpeninsula real estate.

Wilson Roberts said Chinese buyers, who once comprised about 30 percent of home buyers in the area, have dropped precipitously to only 5 percent.

But for those planning to live here, whether from Shanghai or Sunnyvale, it’s the old real estate maxim — location, location, location.

“People are looking for close proximity to shopping, transportation and, for those with children, to schools,” Gable said. “Many are looking for a lifestyle. They pay close attention to the layout of homes, to how rooms look and feel. They’re seeking good locations, often close-in (city) locations. But every community in this area has its advantages, depending on the buyer.”

But there are differing assessments. Selma Hepp, vice president of business intelligence for Pacific Union, predicts a more robust local housing inventory this fall — though primarily in Santa Clara County at the $1 million to $3 million entry-level price. Providing a bit of a release valve for the market, Hepp projects buyers are feeling a bit less pressure to snap up the first property they see, though she said the average house sale still closes in less than two weeks.

Though she projects a slower pace in homeprice appreciation, there aren’t a lot of bargains to be had on the Midpeninsula. Prices will still rise from 10 to 20 percent this fall, she predicted.

“Homes continue to sell above the asking price with about eight in 10 homes selling for more than the list,” Hepp said. “This has not changed much from the last year, though some price points have gained in buyer competition, while some have slowed. In particular, homes priced between $2 million and $3 million see less competition and lower absorption rates than last year.”

Demand is especially brisk this fall for homes either below $1.5 million or above $5 million, she said. That helped fuel a sales increase on the Midpeninsula of 34 percent this past summer compared to the same period in 2017, she said. Last May, Hepp said, home sales were up 44 percent compared to the average number of sales during that month in 2017, 2016 and 2015.

Perhaps a new local real estate adage for fall 2018 should be: price, price, price. Pacific Union’s Wilson Roberts said that during the wild price increases of the past few years, property owners didn’t have to pay as close attention to price tags. Today, it’s Lynn Wilson paramount.

Roberts “I tell my sellers today, they need to be realistic about price,” she said. “The strategy is to present a beautiful home priced appropriately.”

In cities like Atherton, where virtually all properties are on the high end and the median home value is about $7 million, luxury properties are still selling well. In Palo Alto and Menlo Park, sellers have to be on their toes in 2018.

“I tell them they really need to be prepared,” Wilson Roberts said. “And their property needs to be priced right.” Q David Goll is a freelance writer for the Palo Alto Weekly. He can be emailed at david.w.goll@gmail.com.

Page 16 • The Almanac | Palo Alto Weekly

Michelle Le

(continued from page 14)

“Homes continue to sell above the asking price with about eight in 10 homes selling for more than list price,” said Selma Hepp, vice president for business intelligence for Pacific Union.

Single Family Homes January-June 2018 Number of Sales Median Sales Price Palo Alto Los Altos Los Altos Hills Mountain View Atherton East Palo Alto Menlo Park Portola Valley Woodside

192 153 39 119 34 66 145 32 32

$3,300,000 $3,400,000 $4,850,000 $2,425,000 $7,245,000 $980,000 $2,850,000 $2,850,000 $2,855,000

Median Days on Market 9 8 15 8 12 9 11 11 29

Condominiums and Townhomes January-June 2018

Palo Alto Los Altos Los Altos Hills Mountain View Atherton East Palo Alto Menlo Park Portola Valley Woodside

Number of Sales

Median Sales Price

39 20 — 150 — 11 43 — —

$1,800,000 $1,937,500 — $1,335,000 — $730,000 $1,521,024 — —

Median Days on Market 9 9 — 8 — 8 11 — —

Data provided by MLSListings Inc. Courtesy of SILVAR, the Silicon Valley Association of Realtors.

Note: Rural areas do not have significant condominiums and townhome sales.

Derk

Brill’s

success in the Midpeninsula real estate market is no secret.

Born and raised in Palo Alto with family roots in the area dating back to the 1920’s, he has a thorough and intimate knowledge of the community, and the personalities that shape it. His experience and expertise have enabled Derk to attain the status of top producing agent in the Palo Alto office, as well as being among the elite agents in the United States.

Derk’s philosophy of client service differs significantly from most top producing agents.

He offers a hands-on, personal approach to the sale of a home. This extends from the preparation process through the close of escrow. Rather than handing a client off to a series of assistants, Derk manages every aspect of the sale including property prep, marketing, open houses, negotiation, and closing. This provides a seamless transaction from beginning to end.

Alain Pinel Realtors’ partnership with Luxury Portfolio International ensures that in addition to local and national marketing, Derk’s clients benefit from extensive international exposure through a large network of brokerages throughout the world.

If you are considering selling or buying a home in the Midpeninsula, contact Derk to leverage the expertise of a true local.

The Almanac | Palo Alto Weekly • Page 17

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R E A L R E S U LT S , R E A L E S T A T E SEE OUR LISTINGS ONLINE AT MIDTOWNPALOALTO.COM 2775 MIDDLEFIELD ROAD, PALO ALTO â&#x20AC;˘ (650) 321-1596 â&#x20AC;˘ DRE# 1900986

Page 18 â&#x20AC;˘ The Almanac | Palo Alto Weekly

Rosemary Prince Realtor/Property Manager

Katie Tseng Realtor/ OfďŹ ce Manager

Just Listed

Just Listed

240 Ringwood Ave, Menlo Park

2146 Louis Rd, Palo Alto

240 Ringwood Ave, Menlo Park

2146 Louis Rd, Palo Alto

4 bedrooms, 4.5 bathrooms Living area: +/- 2,930 sq.ft.

Lot size: +/- 7,797 sq.ft.

4 bedrooms, 2 bathrooms

List Price: $4,388,000

Living area: +/- 2,197 sq.ft.

www.240RingwoodAve.com

List Price: $3,595,000 www.2146LouisRd.com

Lot size: +/- 7,320 sq.ft.

Recently Sold by Julie Tsai Law Realty Group

Robb Rd, Palo Alto

Edgewood Dr, Palo Alto

Fallen Leaf Ln, Los Altos

Esperanza Dr, Los Altos Hills

Miranda Way, Los Altos Hills

Anacapa Dr, Los Altos Hills

Ross Rd, Palo Alto

Clara Dr, Palo Alto

Alexis Dr, Palo Alto Hill

Gaspar Ct, Palo Alto

Ramona St, Palo Alto

Liberty Park Ave, Menlo Park

Julie Tsai Law

ubvঞm $v-b

Broker Associate

Realtor

MBA, CRS, SRES, ABR

License# 01294153

License# 01339682

Cell: 408-605-8000

Cell: 650-799-8888

kristin@julietsailaw.com

julie@julietsailaw.com

www.julietsailaw.com

www.julietsailaw.com

Ranked by the Wall Street Journal as one of the top realtors in the nation

Call us for consultation & strategic planning for your real estate needs The Almanac | Palo Alto Weekly • Page 19

2018 | FALL REAL ESTATE

Home for rent:

$10K-plus a month

Midpeninsula rental market soars for those who don’t own houses

Adam Pardee

by David Goll

Kimm Terpening, a Coldwell Banker real estate agent in Menlo Park, said rental inventory on the Midpeninsula is plentiful.

T

he Midpeninsula remains one of the most expensive and least-accessible rental housing markets in the nation, but it has slowed down and cooled off a bit in 2018.

“We did start to see changes in the market last year,” said David Hunt, operations manager for WA Krauss & Co. Inc., a Sunnyvale-based residential property management company handling 450 properties in Santa Clara and San Mateo counties. His company’s portfolio includes single-family homes, condominiums and townhomes. “We were spoiled before. Houses were renting within days at any price. Today, it’s taking a lot longer. Two or three months, in some cases.

People are just not moving as much.”

Unless a property is already well under market rate, Hunt said his company has stopped increasing rents in its inventory of residential units.

“In a few cases, we are even lowering rents if landlords really need to get a property rented,” he said.

One of the reasons there was a relatively healthy number of units available was because several of his company’s rental tenants have been able to buy homes in recent months, Hunt said.

According to RentCafe.com, a nationwide Internet rental service, rental housing units have seen single-digit rent increases over the past year — 2 percent in Palo Alto, 4 percent in Mountain View and 6 percent in Redwood City. Average rents in July in Mountain View were $3,009; $3,036 in Palo Alto and $3,718 in Menlo Park.

The San Francisco metropolitan area, which includes San Mateo County, is the nation’s most expensive for renters, according to a report titled “Out of Reach: The High Cost of Housing 2018” compiled by the National Low Income Housing Coalition. To afford the average two-bedroom rental housing unit, tenants must make $60 an hour, or an annual salary of $125,000. Santa Clara County is the second-least affordable, where a tenant needs to earn $48.50 an hour, or $100,000 a year, to rent a two-bedroom unit.

For those who can afford it, Hunt said a healthy inventory of housing units, including new residential developments, are helping “stabilize” the Midpeninsula market this year.

Kimm Terpening, real estate agent in the Page 20 • The Almanac | Palo Alto Weekly

Menlo Park office of Coldwell Banker who handles both for-sale and rental properties in cities from Burlingame to Mountain View, agrees residential rental inventory is plentiful this year. While compiling research for a client this summer, she determined there were 10 homes in Menlo Park available for more than $10,000 per month, and 26 more in that price category in Palo Alto.

Terpening said the relatively healthy rental inventory — combined with the Midpeninsula’s “fantastic schools and plentiful amenities” — make it a favorable time and place for renters to be looking compared to the last few years. The area’s close proximity to both San Francisco International and Mineta San Jose International airports helps its desirability and marketability.

“The market has softened ever so slightly,” she said of conditions this year.

Terpening said landlords or property managers use a number of factors in deciding at what level to set rents — prices being charged for comparable homes in the area, the quality of local schools, and proximity to such amenities as shopping, entertainment and employment centers, among others.

As the stats show, prospective tenants must be in good financial shape to afford Midpeninsula rents. Terpening described many of her rental clients as married couples relocating to the region for high-tech jobs seeking top-notch public schools within walking distance for their children. They are often willing to pay up to $10,000 a month for a rental home. Others are young couples, nurses or educators seeking out one-bedroom apartments that rent for up to $3,000 a month, but offer comparatively short commutes to local schools, hospitals or tech companies.

Terpening said prospective renters with whom she works are from either end of the income spectrum, with those at the lower end unable to come up with a sufficient down payment to buy a home on the pricey Midpeninsula. On the other end, people are moving into the area for high-paying technology jobs and can afford $10,000-per-month house rents. She said the majority are coming here from southern California, but also

from Seattle, New York and Boston. She property management. “Rents have increased said many relocated tech employees receive substantially in some places, but very little financial help from their employers to cope in others. Some rentals draw 10 applications, with the region’s astronomical housing costs. others can’t make the phone ring.”

The result is a rather “confusing” market Hunt said his company also sees many tech employees moving to the area temporar- for prospective renters and landlords, he said.

Midpeninsula renters are mostly comprised ily for job assignments seeking to rent.

When rent levels are determined by his of tech workers and the graduate students, company, he said, owners’ expenses aren’t postdoctoral researchers and visiting professors at Stanford University. really considered.

“We’re a company town,” said Robinson, “It doesn’t matter what expenses a property owner may have, a tenant will be charged himself a Stanford graduate.

Both Robinson and Terpening said they’ve a rent the local market will bear,” Hunt said.

“We go to Craigslist and compare similar seen a minor impact in Midpeninsula neighproperties in a given area to our own. Of borhoods from such short-term residential rental companies course, we are tryas San Franciscoing to maximize based Airbnb Inc. income for a propTerpening said the relatively and VRBO, a suberty owner, but if healthy rental inventory — sidiary of Austin, their expenses are Texas-based Homehigh, that does not combined with the MidpeninAway Inc. have an impact on sula’s “fantastic schools and Terpening said the amount of rent her company recharged. It’s depenplentiful amenities” — make quires a minimum dent on what rent it a favorable time and place one-year lease, level is appropriwhile Robinson ate in a specific for renters to be looking comsaid his company neighborhood.” pared to the last few years. forbids short-term Hunt said when rentals. a company like The area’s close proximity to A measure on the his is handling all both San Francisco InternaNov. 6 statewide management reballot also could sponsibilities for a tional and Mineta San Jose have an impact property, the indusInternational Airports helps its on the local rental try standard for its market. Tenants, monetary share is 7 desirability and marketability. landlords and pubor 8 percent. lic officials on the For some, renting Midpeninsula and a home locally is a quality-of-life issue. Terpening said one of beyond will be paying close attention to a her recent clients seeking a home in Menlo vote on whether to repeal the Costa-Hawkins Park was spending four to five hours per day Rental Housing Act. Passed in 1995, Costacommuting between his job on the Midpen- Hawkins limits the ability of California citinsula and his home in the East Bay town of ies to impose rent control. Among cities with some form of rent control at present include Danville.

Len Robinson, president of Menlo Park- Mountain View, East Palo Alto and San Jose. based Robinson & Co. Realtors, said the Only 15 of the state’s 482 incorporated cities influx of affluent tech workers into the Mid- have some form of rent control in place.

Currently, because of Costa-Hawkins, rent peninsula has created a decidedly mixed bag control can only be applied to residential of a local rental market this year.

“If you have a single-family home on the units built before February 1995. Its repeal market, the demand is still strong,” said Rob- would allow municipal officials throughout inson, who started his company 41 years ago California to expand rent control to encomin the Sierra Nevada foothills, but later relo- pass newer housing units. Q cated to the Bay Area. Besides landlords and David Goll is a freelance writer for the tenants, the company also handles for-sale Palo Alto Weekly. He can be emailed at residential and commercial properties and david.w.goll@gmail.com.

Supporting Our Communities U · ýûüþ

Juliana Lee Lee Education Education Foundation Foundation Juliana OUR MISSION

In 2013 the Juliana Lee Education Foundation wasOUR createdMISSION to support local schools. We believe education has the power Into 2013 the Juliana Lee Education Foundation was created to support local We believe education has the power expand opportunities and transform lives. We hope to inspire others toschools. get involved and support our communities. to expand opportunities and transform lives. We hope to inspire others to get involved and support our communities.

IF YOU WOULD LIKE TO HELP AND MAKE A DONATION Please make checks payable to: Juliana Lee Foundation Send to: Juliana Lee Foundation - 505 Hamilton Ave, Ste 100, Palo Alto, CA 94301 For more information please email: JulianaLeeFoundation@gmail.com

TOGETHER, WE PROSPER.

CARRIE DAVIS your teammate in real estate As an athlete and former coach, Carrie knows how to compete, work as a team and most of all, WIN!

BUYING OR SELLING YOUR HOME? Let Carrie use her competitive edge to negotiate the best results for your real estate needs.

CARRIE DAVIS CalRE#01983911

650.269.4768

CarrieDavisRealEstate.com

Carrie.Davis@cbnorcal.com The Almanac | Palo Alto Weekly • Page 21

Page 22 â&#x20AC;¢ The Almanac | Palo Alto Weekly

THE CITY IS PALO ALTO THE LEADER IS

ALAIN PINEL

$400M

$300M

$200M

$100M

$ 480.31 M

ALAIN PINEL REALTORS

$500M

$ 156.09 M

$ 151.26 M $ 114.49 M $ 93.35 M

$0M Alain Pinel

APR.COM

Deleon Realty

|

PALO ALTO

Keller Williams

Coldwell Banker

578 UNIVERSITY AVENUE

Intero RE

650.323.1111

Volume shown in millions of dollars. Source: TrendGraphix, January 1 through June 30, 2018. Displaying the top 5 brokerages in Palo Alto based on All Property Types closed sales volume.

The Almanac | Palo Alto Weekly â&#x20AC;¢ Page 23

APR FALL CAMPAIGN Jennifer Buenrostro 650.224.9539 jbuenrostro@apr.com License# 01733750

Derk Brill

650.543.1117 dbrill@apr.com License# 01256035

PALO ALTO CALL FOR PRICE

PALO ALTO $10,500,000

Breathtaking estate property featuring a totally restored Spanish Revival residence on an expansive 24k sf lot. www.

CrescentParkEstate.com

Sold Expansive Crescent Park Estate. Sold in 2 days. 5 bedroom, 5 bathroom plus a guest house on an extra large 21,000 sf lot. Beautifully remodeled and very special.

Christy Giuliacci

Nancy Mott 650.255.2325 nmott@apr.com License# 01028928

Christy Giuliacci

650.380.5989 Christy@apr.com

650.380.5989 Christy@apr.com

License# 01506761

License# 01506761

Sherry Bucolo 650.207.9909 Sbucolo@apr.com License# 00613242

PALO ALTO $8,500,000

PALO ALTO $7,000,000

Sold Rare nearly ½ acre lot on a sought after street in premier Crescent Park set among estate homes.

Represented buyers.

Sold Exquisite style and sophistication in the heart of prestigious Old Palo Alto. Designer finishes and custom upgrades.

Derk Brill

License# 00613242

650.543.1117 dbrill@apr.com

License# 01256035

PALO ALTO $6,995,000

PALO ALTO $6,750,000

Close-in convenience and secluded privacy, with exceptional Views! 6BR/6.5BA on one of the largest lots in Palo Alto. www.LaurelGlenEstate.com

Sold with multiple offers. Recently constructed 4BR/3.5BR featuring pool, detached & guest house in an outstanding location.

Harry Chang

License# 01256035

Harry Chang

415.699.9092 harrychang@apr.com

415.699.9092 harrychang@apr.com

License# 02025481

650.814.2913 cchang@apr.com

650.207.9909 Sbucolo@apr.com

Derk Brill

650.543.1117 dbrill@apr.com

Charlene Chang

Sherry Bucolo

License# 02025481

HILLSBOROUGH CALL FOR PRICE

LOS ALTOS CALL FOR PRICE

Sold Negotiated sale off-market. 5 BR contemporary estate built in 2012 on private 2.25 acres + panoramic Bay views.

Sold Off-Market! Stunning 5 BR custom home with expansive 16,700 SF lot. Desirable location in prime North Los Altos.

License# 01353594

APR.COM

Over 30 Real Estate Offices Serving The Bay Area Including Palo Alto 650.323.1111 Square footage, acreage, and other information herein, has been received from one or more of a variety of different sources.

Such information has not been verified by Alain Pinel Realtors®. If important to buyers, buyers should conduct their own investigation.

Page 24 • The Almanac | Palo Alto Weekly

Charlene Chang 650.814.2913 cchang@apr.com License# 01353594

APR FALL CAMPAIGN Christy Giuliacci 650.380.5989 Christy@apr.com License# 01506761

John Forsyth James

Sherry Bucolo 650.207.9909 Sbucolo@apr.com License# 00613242

650.218.4337 John.james@apr.com

PALO ALTO $5,880,000

LOS ALTOS HILLS $5,498,000

Sold SOLD for 20% over list price! Captivating Cape cod style home on a large 11K lot in premier Crescent Park.

Contact us for our Fall listing promo!

Sold New construction just blocks to Downtown Los Altos Village! 5 beds, 5.5 baths, 4,289 Sqft living space and 15,101 SqFt lot.

Arti Miglani

Pat Kalish

650.804.6942 amiglani@apr.com License# 01150085

650.823.4624 pkalish@apr.com License# 00702818

PALO ALTO $5,175,000

LOS ALTOS CALL FOR PRICE

Sold Our strategic marketing plan and the prep work done sold the home in one week with multiple offers. Thinking of moving? “Let me tell you how I work. Let me work for you”

Coming Soon Impeccable custom on premier N. Los Altos Street. Versatile 2 story floorplan, private yard with pool.

Spacious rooms, sophisticated.

Kathleen Wilson

650.207.2017 kwilson@apr.com License# 00902501

License# 01138400

Michael Johnston

650.533.5102 mjohnston@apr.com

PALO ALTO CALL FOR PRICE

PALO ALTO CALL FOR PRICE

Sold Newly built mediteraneaum style home located in Crescent Park! 5 bed 4.5 ba. Kitchen-family great room.

Studio and more!

Coming Soon New construction, 5 bedrooms, 5 full baths + 2 half baths. Completion in October.

License# 01131203

Nadr Essabhoy 650.248.5898 nessabhoy@apr.com License# 01085354

Umang Sanchorawala

Supriya Gavande 650.556.3890 sgavande@apr.com

650.960.5363 usanchor@apr.com

PALO ALTO $4,980,000

PALO ALTO $4,650,000

Beautiful, craftsman style home in the heart of downtown Palo Alto. 4 bed/3.5 ba, plus separate 1 bed/1ba cottage

Sold Beautifully renovated Mediterranean style home in desirable Community Center w 4 beds, 3 baths, 3,372 sf of living space.

License# 01856590

License# 01471341

APR.COM

Over 30 Real Estate Offices Serving The Bay Area Including Palo Alto 650.323.1111 Square footage, acreage, and other information herein, has been received from one or more of a variety of different sources.

Such information has not been verified by Alain Pinel Realtors®. If important to buyers, buyers should conduct their own investigation.

The Almanac | Palo Alto Weekly • Page 25

APR FALL CAMPAIGN

Arti Miglani

Grace Wu

650.804.6942 amiglani@apr.com

650.208.3668 gwu@apr.com

License# 01150085

MENLO PARK $4,500,000

PALO ALTO $4,398,000

Sold Charming Central Menlo Location! 11,400 sq ft lot 2700 sq ft living space4 bedroom 4.5 bath. Represented buyer.

Located at the end of C-D-S offers 6bd, 4ba. House built in 2003. Lower level has 2d large family room. High ceiling.

Wet bar, stairway to backyard.

Grace Wu

License# 00886757

Dana Van Hulsen

650.208.3668 gwu@apr.com License# 00886757

PALO ALTO CALL FOR PRICE

PALO ALTO $3,900,000

New custom home in a C-D-S. 4bd, 3.5ba plus a small cottage. 2560 sft +/- living area. Family room open to large high ceiling patio. Close to schools and Mitchell Park.

Sold Prime Midtown Palo Alto East Coast Inspired 4 BD/3 BA home with beautifully landscaped private large backyard.

Top Rated Schools and Close To Silicon Valley Companies.

Sophie Tsang

650.248.3950 dvanhulsen@apr.com License# 01749772

Delia Fei

650.687.7388 sophie@apr.com

650.269.3422 dfei@apr.com

License# 01399145

PALO ALTO CALL FOR PRICE

LOS ALTOS $3,860,000

Coming Soon Spectacular modern home built in 2010. One of a kind design with high end finishes. Easy single story indoor/ outdoor living with low maintenance yards.

Sold Gorgeous 4 bedroom, 3 bathroom home in wonderful location close to the Village. Remodeled gourmet kitchen and fabulous rear yard with beautiful gardens.

Sophie Tsang

License# 01217572

Derk Brill

650.687.7388 sophie@apr.com

650.543.1117 dbrill@apr.com

License# 01399145

PALO ALTO $3,305,000

PALO ALTO $3,285,000

Sold Ideal location in midtown. Close to Mitchell Park library.

Lovingly maintained. Ease and comfort. Listed at $2,588,000, sold for $3,305,000. Vtour: 567Alger.com

Sold Recently constructed 3BR/3BA contemporary build within walking distance to Downtown Palo Alto.

APR.COM

Over 30 Real Estate Offices Serving The Bay Area Including Palo Alto 650.323.1111 Square footage, acreage, and other information herein, has been received from one or more of a variety of different sources.

Such information has not been verified by Alain Pinel Realtors®. If important to buyers, buyers should conduct their own investigation.

Page 26 • The Almanac | Palo Alto Weekly

License# 01256035

APR FALL CAMPAIGN Scott Symon 415.407.0707 smsymon@apr.com License# 01363506

Siobhan O’Sullivan

650.776.5445 sosullivan@apr.com License# 01298824

LOS ALTOS $3,298,000

MENLO PARK $3,149,000

Country setting in heart of Silicon Valley! Move in or build new. www.437Mundell.com.

4 bedrooms/3 baths With a nod to classic East Coast style, this west-side Menlo Park home is stunning inside and out

Shary Symon 650.400.3946 ssymon@apr.com License# 01098351

Terry Rice

Lori Buecheler

650.207.4142 trice@apr.com License# 00621581

650.387.2716 lorib@apr.com

License# 01859485

PALO ALTO $3,188,000

SAN CARLOS $3,020,000

Sold Spacious light filled home on a quiet cul-de-sac close to Mitchell Park and Charleston shopping center. 5bd, 2.5ba, 2103+/- sq.ft. on 10,000+/- sq.ft. lot.

Sold Sold with multiple offers, gorgeous 4 bedroom, 3.5 bath remodeled light-filled home is ideal for indoor/ outdoor living.

Jennifer Buenrostro 650.224.9539 jbuenrostro@apr.com License# 01733750

Sophie Tsang

650.687.7388 sophie@apr.com

Nancy Mott 650.255.2325 nmott@apr.com License# 01028928

License# 01399145

PALO ALTO CALL FOR PRICE

PALO ALTO CALL FOR PRICE

Coming Soon Lovely updated Green Gables Home. 3bd, 2ba new kitchen and bath. Lovely yard. Duveneck School.

Attached 2 car garage. Turn key.

Sold with multiple offers. Lovingly maintained 4 bedroom 2 bath home on a quiet street in Midtown. Large wide lot.

Fix up or rebuild. Excellent location and potential.

Desiree Docktor

650.291.8487 ddocktor@apr.com License# 01808874

Pat Kalish

650.823.4624 pkalish@apr.com License# 00702818

PALO ALTO $3,298,000

PALO ALTO CALL FOR PRICE

Charming 2-story 4 bedroom, 2-bath home in sought after Old Palo Alto. Close to California Ave shops, restaurants, cafes and Cal-Train. Excellent Palo Alto Schools.

Coming Soon Approx 1 acre with livable existing house.

Los Altos Hills with Palo Alto mailing address and Palo Alto schools.

APR.COM

Over 30 Real Estate Offices Serving The Bay Area Including Palo Alto 650.323.1111 Square footage, acreage, and other information herein, has been received from one or more of a variety of different sources.

Such information has not been verified by Alain Pinel Realtors®. If important to buyers, buyers should conduct their own investigation.

The Almanac | Palo Alto Weekly • Page 27

APR FALL CAMPAIGN Stacey Woods 650.793.4583 swoods@apr.com License# 02002137

Shari Ornstein 650.814.6682 sornstein@apr.com

Ray Hogue 650.964.3722 rhogue@apr.com License# 01980343

PALO ALTO $2,950,000

STANFORD $2,935,000

Sold Charming home in desirable Green Gables neighborhood. 3bed/1bath. Close to Duveneck Elementary, Community Center and Stanford. Sold over list.

Sold Uniquely Designed Stanford Contemporary 4 bedroom/ 3.5 bathroom home with family room features seamless indoor-outdoor living.

Lori Buecheler

License# 01028693

Shelly Roberson

650.387.2716 lorib@apr.com

License# 01859485

BURLINGAME $2,900,000

PALO ALTO CALL FOR PRICE

Sold Sold in less than one week with multiple offers, this beautiful four bedroom home has been completely remodeled with attention to detail throughout.

First time on market this lovely well maintained 4 bed 3 bath home is located in the desirable Green Gables neighborhood.

650.464.3797 sroberson@apr.com License# 01143296

Liz Rhodes 650.722.3000 lrhodes@apr.com License# 01179852

Jenny Teng

650.245.4490 jteng@apr.com

John Forsyth James 650.218.4337 John.james@apr.com License# 01138400

LOS ALTOS $2,898,000

MOUNTAIN VIEW $2,850,000

Coming Soon 10,000 SqFt lot with approved plans for a 5,231 SqFt home – ready to pull permits. Excellent North Los Altos Location.

Sold Single story gem in the desirable Waverly Park neighborhood. Easy access to El Camino Real, highways 85, 237 and 280. Excellent Mountain View Schools.

Denise Simons

License# 01023687

Denise Simons

650.269.0210 dsimons@apr.com

650.269.0210 dsimons@apr.com

License# 01376733

PALO ALTO $2,710,000

PALO ALTO $2,700,000

Sold Stylishly updated 4 bedroom, 2 bath mid-century modern Eichler with abundant natural light, walls of windows and an open floor plan.

Sold A private courtyard welcomes you into this delightful 4 bed, 2 bath updated Stern and Price home ideally located near top rated schools and Mitchell Park Community Center.

APR.COM

Over 30 Real Estate Offices Serving The Bay Area Including Palo Alto 650.323.1111 Square footage, acreage, and other information herein, has been received from one or more of a variety of different sources.

Such information has not been verified by Alain Pinel Realtors®. If important to buyers, buyers should conduct their own investigation.

Page 28 • The Almanac | Palo Alto Weekly

License# 01376733

APR FALL CAMPAIGN Stacey Woods 650.793.4583 swoods@apr.com License# 02002137

Kathleen Wilson

650.207.2017 kwilson@apr.com License# 00902501

PALO ALTO $2,650,000

PALO ALTO CALL FOR PRICE

Sold Perfect location for a creative buyer or builder! 2 bedroom, 1 bathroom 6800 sf lot.

Coming Soon Spacious 4 bed/3.5 bath with designer ďŹ nishes throughout. Built in 2014. Close to shopping and major commute routes. Excellent Los Altos schools.

Ray Hogue 650.964.3722 rhogue@apr.com License# 01980343

Xin Jiang 650.283.8379 Xjiang@apr.com License# 01961451

Sophie Tsang

650.687.7388 sophie@apr.com

Alan Dunckel 650.400.0324 adunckel@apr.com

License# 01399145

PALO ALTO $2,498,000

PALO ALTO $2,350,000

Updated Mid-century Modern in Family-Friendly Palo Verde. 6600sf lot, 1698sf living. 4BR/2BA.

Sold Outstanding location, one block from University Ave. Close to parks, restaurants, shops, train and bus stops. Listed at $1,990,000, sold for $2,350,000. Vtour: 330BryantA.com

License# 00866010

Pamela Culp

Lori Buecheler

415.640.3293 pculp@apr.com License# 00896337

650.387.2716 lorib@apr.com

License# 01859485

PORTO VALLEY $2,250,000

PALO ALTO $2,180,000

Sold Stunning views to the bay from the lovely home in Los Trancos make this a peaceful retreat. It has 4 BRS and 2.5 baths and gorgeous living spaces.

Sold Prime Old Palo Alto location with gorgeous remodeled kitchen and spacious living areas surrounded by peaceful gardens. 2 bedroom/1 bath.

Kathleen Wilson

650.207.2017 kwilson@apr.com License# 00902501

Michael Johnston

BELMONT $2,000,000

MOUNTAIN VIEW CALL FOR PRICE

Sold Four bedroom, two and 1/2 bath. New kitchen and baths. High vaulted ceilings. Spectacular views! Move in condition.

Coming Soon 3 bedrooms, 2 bathrooms, huge detached, 2 car garage. Great back yard.

650.533.5102 mjohnston@apr. com License# 01131203Â

APR.COM

Over 30 Real Estate Offices Serving The Bay Area Including Palo Alto 650.323.1111 Square footage, acreage, and other information herein, has been received from one or more of a variety of different sources.

Such information has not been veriďŹ ed by Alain Pinel RealtorsÂŽ. If important to buyers, buyers should conduct their own investigation.

The Almanac | Palo Alto Weekly â&#x20AC;˘ Page 29

APR FALL CAMPAIGN

Supriya Gavande

Michael Johnston

650.556.3890 sgavande@apr.com License# 01856590

PALO ALTO $1,798,000

MENLO PARK $1,979,000

Enjoy upscale urban living in the heart of downtown ~ Elegant corner single level condominium~ Two balconettes & spacious patio~Elevator secure access~ 2 parking spaces.

Well maintained 3 bedrooms, 2 bathrooms, 2 car garage in The Willows. Excellent Menlo Park Schools.

650.533.5102 mjohnston@apr. com License# 01131203

Liz Rhodes 650.722.3000 Lrhodes@apr.com License# 01179852

Supriya Gavande

Michele Harkov 650.773.1332 Mharkov@apr.com License# 01838875

EMERALD HILLS $1,798,000

PALO ALTO $1,699,000

Enjoy this Emerald Hills 3bed/2.5 bath home on a quiet culde-sac, minutes from downtown Redwood City, Roy Cloud school!

Crescent Park/Downtown stylishly remodeled 2 bed&2 bath home of 1313 sf on ground floor~A private end unit w/ 2 large outdoor patios~1-car garage~Hardwood floors throughout.

650.556.3890 sgavande@apr.com License# 01856590

Liz Rhodes 650.722.3000 Lrhodes@apr.com License# 01179852

Jean-Luc Laminette

Michele Harkov 650.773.1332 Mharkov@apr.com License# 01838875

SUNNYVALE $1,698,000

PALO ALTO $1,688,000

Sold Enjoy living in the heart of Silicon Valley, close to the Bay Area’s top companies & activities. Five bedroom/five baths.

Exceptional Sterling Park townhome. Former model home, quiet in pristine condition. Best location in the community.

650.833.9336 jllaminette@apr.com License# 01847917

Greg Celotti 650.740.1580 greg@apr.com License# 01360103

Ling Lau

650.269.6809 llau@apr.com License# 01177889

SAN JOSE $1,650,000

SAN CARLOS $1,598,000

Sold Pristine craftsman in wonderful neighborhood adjacent to Rose Garden. 1 mile to downtown, Santana Row. 4ba/2ba with 2660 s.f. Represented buyer.

Absolutely gorgeous 3bd, 2.5ba home on a quiet street.

385Ridge.com

APR.COM

Over 30 Real Estate Offices Serving The Bay Area Including Palo Alto 650.323.1111 Square footage, acreage, and other information herein, has been received from one or more of a variety of different sources.

Such information has not been verified by Alain Pinel Realtors®. If important to buyers, buyers should conduct their own investigation.

Page 30 • The Almanac | Palo Alto Weekly

Candi Athens 650.504.2824 cathens@apr.com License# 01973120

APR FALL CAMPAIGN Greg Celotti 650.740.1580 greg@apr.com License# 01360103

Pat Kalish

650.823.4624 pkalish@apr.com License# 00702818

SAN MATEO $1,575,000

SAN CARLOS CALL FOR PRICE

Sold Ready for major remodel, close to Downtown and 101.

Lovely street.

Coming Soon Gorgeous 2bd, 2.5ba townhome with spectacular views of SF and the bay. 1Mayflower.com

Candi Athens 650.504.2824 cathens@apr.com License# 01973120

Pam Page

Denise Simons

650.400.5061 ppage@apr.com License# 00858214

650.269.0210 dsimons@apr.com License# 01376733

LOS ALTOS $3,300,000

SUNNYVALE CALL FOR PRICE

Sold! Wonderful 4bd/2.5ba in North Los Altos, close to town. Remodeled five years ago, on a large cul-de-sac lot.

Coming Soon Move right into this lovely, remodeled 3 bed, 1 bath home in West Sunnyvale with Homestead High and close to Washington Park and downtown Sunnyvale.

Greg Celotti 650.740.1580 greg@apr.com License# 01360103

Shelly Roberson

650.464.3797 sroberson@apr.com License# 01143296

PALO ALTO CALL FOR PRICE

SAN CARLOS $1,398,000

Luxurious Downtown Palo Alto 55+ community - 2BD, 2BA condo with 10ft ceilings, fireplace, balcony and lots of amenities.

Coming Soon Gorgeous 3bd/2ba home close to downtown, Caltrain, plus excellent schools. 1011Hall.com

Pamela Culp

650.504.2824 cathens@apr.com License# 01973120

Andrea Meinhardt Schultz

415.640.3293 pculp@apr.com License# 00896337

Candi Athens

EAST PALO ALTO $1,398,000

REDWOOD CITY $1,050,000

Located in a neighborhood of homes built in the early 2000s. This stunning 4 BR 2.5BA home is a wonderful value.

Charming 2Bd, 1Ba bungalow in fabulous Redwood City neighborhood. Remodeled thru-out. Private yard, 1 car garage.

650.575.3632 aschultz@apr.com License# 01196243

APR.COM

Over 30 Real Estate Offices Serving The Bay Area Including Palo Alto 650.323.1111 Square footage, acreage, and other information herein, has been received from one or more of a variety of different sources.

Such information has not been verified by Alain Pinel Realtors®. If important to buyers, buyers should conduct their own investigation.

The Almanac | Palo Alto Weekly • Page 31

Neighborhood Snapshot 2018 | FALL REAL ESTATE

“Everything you pay extra for living in Palo Alto is across the street,” said Community Center resident Peter Allen, including Lucie Stern Community Center’s theater, shown above.

A feeling of

‘old’ Palo Alto Community Center is walking distance to magic Story by Angela Swartz Photos by Veronica Weber

Page 32 • The Almanac | Palo Alto Weekly

S

prinkled with parks, tennis courts, children’s library and even a zoo, Palo Alto’s Community Center neighborhood has it all.

“Everything you pay extra for living in Palo Alto is across the street,” said Peter Allen, the neighborhood association president.

“It’s a very walkable neighborhood and as such, one gets to know a lot of your fantastic neighbors.”

The Lucie Stern Community Center, Palo Alto Junior Museum and Zoo, a performing arts theater and the Rinconada Pool are all in the relatively small neighborhood that’s home to about 2,000 people. A new and improved zoo will open in 2020, as the Palo Alto City Council recently approved a plan to rebuild and expand it.

These amenities drew more families to the neighborhood in recent years, said Allen, who lives on Hopkins Avenue across from the 19-acre Rinconada Park. The park is Palo Alto’s second oldest park, having been established in 1922.

When Allen first moved to the neighborhood in 1990, there were not many children.

“Soon there were 10 per block,” he said.

“Who can blame families?” The neighborhood’s Walter Hays Elementary School is consistently ranked near the top of California’s about 5,000 elementary schools.

For shopping, The Market in Edgewood Plaza opened this past winter and is supplying neighbors with a closer spot to pick up groceries.

Real estate-wise, home styles are all over the map, said Julie O’Grady, who lives on Walter Hays Drive and who grew up in Palo Alto. She said her neighborhood has Victorians, Mission-style homes and more.

Many of the neighborhood’s small bungalow homes that were built as second homes for early-20th-century San Franciscans escaping the summer fog have made way for bigger homes.

Allen’s neighbor, Lois Hall, said her (continued on page 34)

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edemma@cbnorcal.com erikademma.com CalRE#01230766

The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor agents and are not employees of the Company. ©2018 Coldwell Banker Residential Brokerage. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Owned by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. CalRE #01908304.

The Almanac | Palo Alto Weekly • Page 33

Despite changes, the Community Center neighborhood still has the feeling of old Palo Alto, said resident Julie O’Grady.

FACTS CHILD CARE AND PRESCHOOLS: Walter Hays Kids’ Club, 1525 Middlefield Road FIRE STATION: No. 3, 799 Embarcadero Road LIBRARY: Rinconada Library, 1213 Newell Road; Children’s Library, 1276 Harriet St. LOCATION: bounded by Middlefield Road, Channing Avenue, Newell Road and Embarcadero Road

Community Center (continued from page 32)

husband called the change years ago when they built their newer, larger house.

“We were the first new house in many years,” said Hall, 93, who moved to the neighborhood in 1969. “Everyone was delighted to see a new house being built ... It was quite an event.”

But the bungalows are almost all gone now, she said.

“The whole neighborhood has grown up that way,” said Hall, who enjoys twice-daily walks in the park. She describes the tree-lined neighborhood as very pleasant, with a lot of very friendly people.

The neighborhood, along with Palo Alto, has changed wealth-wise, O’Grady said. The average home in Community Center is worth about $4.3 Page 34 • The Almanac | Palo Alto Weekly

million, according to online real estate database company Zillow.

“When we grew up in Palo Alto, you wouldn’t know who was wealthy and who wasn’t,” she said.

“You can definitely see the wealth (now).”

Despite the changes, the neighborhood still has the feeling of old Palo Alto, said O’Grady. Neighbors are low key and environmentally conscious, with many of them known to drive Priuses and recycle, she said.

“You don’t have to be dressed to the nines,” she said.

To add to the community feel, the neighborhood has a longtime annual Labor Day block party.

There are also summer concerts in the park, art festivals and more. Q Angela Swartz is a reporter for The Almanac.

She can be reached at aswartz@almanacnews.com.

NEIGHBORHOOD ASSOCIATION: Peter Allen, pma94301@comcast.net PARK: Rinconada Park, 777 Embarcadero Road POST OFFICE: Main, 2085 E. Bayshore Road; Hamilton, 380 Hamilton Ave. PRIVATE SCHOOL: St. Elizabeth Seton School, 1095 Channing Ave. PUBLIC SCHOOLS: Addison, Duveneck and Walter Hays elementary schools, Greene Middle School, Palo Alto High School SHOPPING: Midtown, Downtown Palo Alto, Embarcadero Center.

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COLLEEN FORAKER, REALTOR® 650.380.0085 colleen@colleenforaker.com License #01349099 The Almanac | Palo Alto Weekly • Page 35

2018 | FALL REAL ESTATE

Browsing by Budget

What can you buy on the Midpeninsula?

by Elizabeth Lorenz

UNDER $1 MILLION MOUNTAIN VIEW Address: 1031 Crestview Drive, Apt 301 List price: $825,000 Bedrooms: 1 Bathrooms: 1 Interior: 855 sf Year built: 1969 Walk score: 71 Description: Rare corner location with windows on two sides making it light filled for most of the day.

Top-floor unit with a large balcony overlooking the interior landscaped community area. Updated with laminate flooring and dual-pane windows and patio door.

EAST PALO ALTO Address: 147 Jasmine Way List price: $799,888 Bedrooms: 3 Bathrooms: 1 Interior: 890 sf Lot size: 5,100 sf Year built: 1951 Walk score: 20 Description: Bright and open floor plan. Large living room has a wood-burning fireplace; hardwood floors under carpeting. The kitchen has granite countertops.

Ample backyard.

T

here was a time within the last decade or so when you could conceivably buy a single-family home on the Midpeninsula for about $1 million. Nowadays, that same home would probably cost close to $3 million. Now, $1 million gets a freestanding town home in Mountain View, or maybe a small threebedroom single-family home in East Palo Alto. If you have a higher budget, you have more wiggle room to choose city, size of home and certain amenities like

a chef’s kitchen or perhaps a luxurious master suite.

City centers are still popular if the homes are within easy walking distance to things like coffee shops, restaurants or parks. On the high end, there is still a market for large, ready-to-move-in homes with “basics” like custom styling, perhaps a vineyard and built-in outdoor barbecue. New construction commands more dollars, but at the very high end, sellers need patience to sell to the right buyer at the right price.

Under $1 million

Under $3 million

MOUNTAIN VIEW Address: 1912 Silverwood Ave. List price: $975,000 Bedrooms: 2 Bathrooms: 2 Interior: 968 sf Lot size: 361 sf Year built: 1974 Walk score: 40 Description: Freestanding townhome with no common walls. Totally remodeled including new laminate floors throughout, recessed lighting and fresh paint. The living room with fireplace has many windows with lots of natural light.

Recently updated kitchen. Custom glass railing on the staircase leading to bedrooms with vaulted ceilings and one bedroom with balcony. In-unit laundry with washer/dryer included.

LOS ALTOS Address: 1504 Cedar Place List price: $2,999,888 Bedrooms: 4 Bathrooms: 3 Interior: 2,297 sf Lot size: .3 acres Year built: 1958 Walk score: 41 Description: This one-story home has quality finishes throughout. Generously sized living areas anchored by a central, see-through fireplace between the kitchen and living room. Chef’s kitchen has a center island with breakfast bar and skylight, finished with maple Shaker-style cabinetry and quartz slab counters. Luxurious master suite has French doors leading to a private patio and spa-inspired bath with jetted tub.

MENLO PARK Address: 309 Market Place List price: $999,999 Bedrooms: 3 Bathrooms: 2 Interior: 910 sf Lot size: 5,000 sf Year built: 1953 Walk score: 23 Description: This updated home features granite counters in the kitchen, a backyard shed that could be used as storage or an office. The home has dual-pane windows, newly painted exterior stucco and a driveway gate. The large front yard can accommodate up to 8+ cars. The wide side yard can accommodate a large RV. Private well is used to water well-landscaped front and backyard also has an array of fruit trees.

PORTOLA VALLEY Address: 14 Tynan Way List price: $2,395,000 Bedrooms: 3 Bathrooms: 3 Interior: 2,275 sf Lot size: 9,600 sf Year built: 1920 Description: A 1920s cottage with vintage formal dining and living rooms, plus a more recently added family room/dining area with and abundant light. Lot has old stone walls, mature trees and two ponds. Large walk-out basement with workshop and plentiful storage space. The home has cathedral ceilings with custom wood windows and hardwood floors, Major remodeling in 2007/2008.

UNDER $3 MILLION LOS ALTOS Address: 11666 Winding Way List price: $2,400,000 Bedrooms: 3 Bathrooms: 2 Interior: 1,587 sf Lot size: 11,627 sf Year built: 1939 Walk score: 2 Description: Private setting with mature trees. Newly painted interior and new carpet.

PALO ALTO Address: 3130 Ramona Street List price: $2,388,000 Bedrooms: 3 Bathrooms: 2 Interior: 1,480 sf Year built: 1959 Lot size: 6,015 sf Walk score: 34 Description: Light-filled interior with new flooring in the living areas, spacious living room with fireplace, open-concept kitchen-family area with access to backyard. Two newly remodeled bathrooms with premium finishes and fixtures.

Page 36 • The Almanac | Palo Alto Weekly

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ƌĞĐŽŵŵĞŶĚ ƚŚĞŵ ƚŽ ĂŶLJŽŶĞ ďƵLJŝŶŐ Ă ŚŽŵĞ ŽŶ ƚŚĞ ƉĞŶŝŶƐƵůĂ͘

— Alexis L.

— Irene S.

ZĞƉƌĞƐĞŶƟ ŶŐ ƚŚĞ ^ĞůůĞƌ ĂƌŽů ĂŶĚ EŝĐŽůĞ ƉƌĞƉĂƌĞĚ ƵƐ ĨŽƌ ǁŚĂƚ ƚŽ ĞdžƉĞĐƚ ĂŶĚ Ɵ ŵŝŶŐ ĨŽƌ ƚŚĞ ǁŚŽůĞ ƉƌŽĐĞƐƐ͘ - MĂŶĂŐĞĚ ƚŚĞ ĞŶƟ ƌĞ ƉƌŽĐĞƐƐ Ň ĂǁůĞƐƐůLJ ĨƌŽŵ ďĞŐŝŶŶŝŶŐ ƚŽ ĞŶĚ͘

Menlo Park

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Palo Alto

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Atherton

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Carol Carnevale and Nicole Aron CALBRE #s: 00946687, 00952657

T :: 650.465.5958 | 650.740.7954 E :: carolandnicole@apr.com

www.carolandnicole.com

1550 El Camino Real :: Suite 100 :: Menlo Park, CA 94025

www.CarolAndNicole.com

Menlo Park

Included among the top ZĞĂů ƐƚĂƚĞ dĞĂŵƐ ŝŶ ƚŚĞ EĂƟ ŽŶ by the tĂůů ^ƚƌĞĞƚ :ŽƵƌŶĂů Stay Connected.

^ƚĂƚĞͲŽĨͲƚŚĞͲ ƌƚ džƉĞƌƟ ƐĞ ^ƚĂƚĞͲŽĨͲ,ĞĂƌƚ ZĞůĂƟ ŽŶƐŚŝƉƐ

The Almanac | Palo Alto Weekly • Page 37

IT'S A GREAT TIME TO BUY A HOME! 328 Churchill Avenue, Palo Alto - Old Palo Alto This striking 4 bedroom/5.5 bath home is a bold representation of contemporary architecture embracing enduring principles of modern design.

OPEN SUNDAY, OCTOBER 1 , 1:30-4:30

A dramatic two-story vaulted ceiling rises 23+ ft. above the center of the home and hallway that leads to the stunning living room with 13+ ft. ceilings. Natural light streams through artistically arranged windows and skylights.

All public rooms open to the surrounding garden landscaped in serene shades of green with occasional pops of brilliant color.

Living Area: 4,611 sq. ft. | Lot Size: 9,750 sq. ft. (Per county records, unverified)

Offered at $6,238,000 www.328Churchill.com

47 Hamilton Court, Palo Alto - Crescent Park Captivating curb appeal hints at the interior beauty of this classic 5 bedroom/2.5 bath Cape Cod home situated on a quiet cul-de-sac near downtown Palo Alto.

OPEN SUNDAY, OCTOBER 1 , 1:30-4:30

The home's public rooms are perfectly arranged and proportioned for comfortable living. The remodeled kitchen adjoins the family/dining room with a soaring open beam ceiling. Three pairs of French doors open to an inviting brick terrace overlooking the pool.

A romantic master suite with spa-like bath is on the main floor, and there are 4 family bedrooms and a remodeled bath on the second level.

A picturesque and private garden surrounds the home.

Living Area: 3,388 sq. ft. | Lot Size 8,588 sq. ft. (Per county records, unverified)

Offered at $5,995,000 www.47HamiltonCt.com

1087 Fife Avenue, Palo Alto - Community Center An attractive eco-friendly front garden is the first impression of the appealing modern design of this 6 bedroom/ 2.5 bath home. Simple clean architecture melds harmoniously with stylish interior appointments.

OPEN SUNDAY, OCTOBER 1 , 1:30-4:30

The living room features a dramatic high open-beam ceiling and connects to the dining area with two large sliding doors that open to a sunny deck and pool. A sleekly remodeled European-style kitchen adjoins a spacious family room.

The outstanding location is within blocks to Addison Elementary, Eleanor Pardee and Rinconada parks, the Community Center and dynamic Downtown Palo Alto.

Living Area: 3,086 sq. ft. | Lot Size 8,518 sq. ft. (Per county records, unverified)

Offered at $4,475,000 www.1087Fife.com

Carol Carnevale

Nicole Aron

BRE#00946687

RE#00952657

Included among the top Real Estate Teams in the Nation by the Wall Street Journal

C :: 650-465-5958 E :: carolandnicole@apr.com State-of-the-art real estate, State-of-the-heart relationships!

Stay Connected!

Page 38 • The Almanac | Palo Alto Weekly

586 Palo Alto Sales.....and counting

www.CarolAndNicole.com

FOR SALE 595 Morey Ave. Menlo Park $2,475,000

595Morey.com

SOLD Portola Valley REPRESENTED SELLER: $3,551,000

FOR SALE 124 Lundy Lane, Palo Alto $2,985,000 124LundyLn.com

SOLD

East Palo Alto

REPRESENTED SELLER: $965,000

FOR SALE 976 Menlo Ave. Menlo Park $1,875,000

976Menlo.com

FOR SALE 36 Woodhill Dr. Redwood City $2,955,000 36Woodhill.com

SOLD Palo Alto

SOLD Los Altos

REPRESENTED BUYER: $3,500,000

REPRESENTED SELLER: $6,800,000

Proudly representing buyers & sellers throughout the Peninsula.

2018 HOME SALES

monicacormanbroker 650.543.1164 CalRE #01111473

mcorman@apr.com MonicaCorman.com

SOLD Menlo Park

SOLD Palo Alto

REPRESENTED SELLER: $7,350,000

REPRESENTED SELLER: $1,400,000

mandymontoya 650.823.8212 CalRE #01911643

mmontoya@apr.com MandyMontoya.com

MONICA RANKED IN THE WALL STREET JOURNAL’S 2016, 2017 & 2018 NATIONWIDE LIST OF 250 TOP REAL ESTATE PROFESSIONALS

SOLD Portola Valley

SOLD Menlo Park

SOLD Palo Alto

SOLD Menlo Park

REPRESENTED SELLER: $2,950,000

REPRESENTED SELLER: $3,900,000

REPRESENTED SELLER: $2,350,000

REPRESENTED SELLER: $3,825,000

SOLD Woodside

SOLD Woodside

SOLD Palo Alto

SOLD Redwood City

REPRESENTED BUYER: $2,970,000

REPRESENTED BUYER: $2,350,000

REPRESENTED BUYER: $4,500,000

REPRESENTED BUYER: $2,800,000

SOLD Woodside

SOLD Redwood City

SOLD Menlo Park

SOLD Menlo Park

REPRESENTED BUYER: $1,875,000

REPRESENTED BUYER: $2,000,000

REPRESENTED BUYER: $1,450,000

REPRESENTED BUYER: $1,050,000

The Almanac | Palo Alto Weekly • Page 39

Kathleen is a Palo Alto native who has successfully helped buyers and sellers in this local market for over 16 years. Professional Service with a Personal Touch!

OFF MARKET ACTIVE LISTING 753 Topaz St., Redwood City 3 BR • 2 BA • 1380 sqft Offered for $1,600,000 RECENT TRANSACTIONS 3860 El Centro St., Palo Alto** 3281 Berryessa Street, #6, Palo Alto* 175 Gloria, Menlo Park*

1624 Glenfield Dr, San Jose* 10 Trudy, Menlo Park * represented byer ** represented buyer and seller

W W W. S E R E N O G R O U P. C O M

kathleenpasin@serenogroup.com | www.kkathleenpasin.com | (650) 450-1912 DRE # 01396779 7KLV LQIRUPDWLRQ ZDV VXSSOLHG E\ UHOLDEOH VRXUFHV 6DOHV $VVRFLDWH EHOLHYHV WKLV LQIRUPDWLRQ WR EH FRUUHFW EXW KDV QRW YHULÜHG WKLV information and assumes no legal responsibility for its accuracy. Buyers should investigate these issues to their own satisfaction.

Buyer to verify school availability.

Page 40 • The Almanac | Palo Alto Weekly

2018 | FALL REAL ESTATE

Browsing by Budget UNDER $5 MILLION PALO ALTO Address: 567 Glenbrook Drive List price: $4,398,000 Bedrooms: 6 Bathrooms: 4 Interior: 4,088 sf Lot size: 7,161 sf Year built: 2003 Walk score: 29 Description: This three-level home is located in a small culde-sac. It has hardwood floors, high ceilings, crown molding and recessed lighting. The chef’s kitchen has a casual dining area, and the family room opens onto a patio and back garden. The lower level offers a large entertainment room with wet bar, additional bedrooms, bath, laundry and storage rooms.

MENLO PARK Address: 1020 Monte Rosa Drive List price: $4,750,000 Bedrooms: 3 Bathrooms: 2.5 Interior: 4,340 sf Lot size: .47 acre Year built: 1985 Walk score: 44 Description: English-style home with landscaped grounds, a cabana and pergola. Great room has open-beam ceilings, an English pub-style bar and a large fireplace. Mahogany library designed by Alan Amerian. Master suite with fireplace. Kallista tub separates sinks and cabinets on each side. Kitchen has granite counters and a large pantry, top-ofthe-line appliances and eating area with built-in desk and cabinet.

Under $5 million

Under $10 million

MENLO PARK Address: 1045 College Ave. List price: $4,785,000 Bedrooms: 5 Bathrooms: 4.5 Interior: 4,198 sf Lot size: 7,318 sf Year built: 2006 Walk score: 69 Description: Custom-built home with classic Craftsman architecture, and a large front porch.

Hardwood floors throughout with radiant heating and distributed audio. Gourmet kitchen with high ceilings, skylight and top-of-the-line appliances.

Formal living room with fireplace, dining room with French doors and family room with fireplace adjacent to the kitchen. Five bedrooms including a master with heated floor and soaking tub. Large recreation room with surround sound and bar area. Slate terrace with gas fireplace.

LOS ALTOS HILLS Address: 12501 Zappettini Court List price: $9,250,000 Bedrooms: 6 Bathrooms: 7.5 Interior: 8,625 sf Lot size: 1.18 acres Year built: 2017 Walk score: 6 Description: New custom-built GreenPointrated estate on a private cul-de-sac. A formal entry leads into the three-level home built with premium materials and high-end styling. Outside there is an expansive terrace, a Cabernet Sauvignon vineyard and built-in barbecue for indoor/outdoor entertaining. Each bedroom is large with a walk-in closet and en-suite bathroom.

Wide-plank European white oak floors throughout.

Chef’s kitchen with large island, pantry, and Wolf and Sub-Zero appliances. Basement features a wine cellar, bar, home theater, exercise room, and bedroom with en-suite bath. Attached threecar garage.

PALO ALTO Address: 827 Hamilton Ave. List price: $4,198,000 Bedrooms: 4 Bathrooms: 3 baths Interior: 2,547 sf Lot size: 6.054 sf Year built: 1997 Walk score: 58 Description: Designer style with luxurious interiors and outdoor living space. Hardwood floors complement a neutral palette. Two fireplaces, French doors open from most rooms for outdoor living. Eat-in gourmet kitchen is open to the family room and large garden courtyard and lawn. Main-level bedroom or office and upstairs master bedroom with vaulted ceilings and spacious terrace. Two additional bedrooms, one opening to a covered terrace, are served by a bath with dual-sink granite-topped vanity and shower over tub.

PALO ALTO Address: 1301 Hamilton Ave. List price: $7,798,000 Bedrooms: 4 Bathrooms: 4 Interior: 3,131 sf Lot size: 15,155 sf Year built: 2008 Walk score: 39 Description: Chef’s kitchen with Caesarstone counter tops, island with barstool seating. Openconcept great room includes garden vistas from every window, entertainment center, French doors leading to patios and backyard. Master suite has doors to the rear yard. Surrounding the home are manicured gardens, steel sculptures, a lineal gas fireplace and entertaining spaces.

UNDER $7 MILLION LOS ALTOS HILLS Address: 13081 South Alta Lane List price: $6,500,000 Bedrooms: 5 Bathrooms: 6.5 Interior: 6,598 sf Lot size: 1.48 acres Year built: 1999 Walk score: 3 Description: French-inspired home with classical style architecture and views of the bay. Formal foyer with marble floors and cascading staircases connect three levels of living space. High-ceilinged living room with moldings, a marble fireplace and views of the lushly landscaped grounds.

Large dining room, separate office with a fireplace, and lower level recreation/media room. Spacious custom kitchen with granite countertops, center island and pantry opens to a family room with casual dining area and sun room.

Resort-like back yard with pool, spa and outdoor kitchen.

The Almanac | Palo Alto Weekly • Page 41

BRE# 01174998

Roots in the community? You betcha.

There are locals, and then there is the local’s local – which is Brian. He was raised in Palo Alto, and in turn, is raising his family here as well. It’s a deep relationship with the area, as evidenced by Brian’s 25 years in real estate on the Peninsula and his role as an active, lifelong community volunteer. So it’s no wonder people far and wide look to him for his deep local knowledge, expertise, integrity, and network. You and Brian Chancellor; it’s an opportunity to grow together.

Page 42 • The Almanac | Palo Alto Weekly BrianChancellor.com

650.303.5511

THE ART AND SCIENCE OF REAL ESTATE™

2018 | FALL REAL ESTATE

Browsing by Budget PALO ALTO Address: 2783 Randers Court List price: $6,999,000 Bedrooms: 5 Bathrooms: 5.5 Interior: 4,955 sf Lot size: 8,329 sf Year built: 2010 Walk score: 59 Description: Newly-remodeled home with two family rooms and an office, high-end features, amenities and finishes and a lush yard. This home has a centrally controlled automation system that controls lighting/music/ heating/air conditioning/security/ motorized shades, a steam room and a wine cellar with room for more than 1,000 bottles.

UNDER $10 MILLION PALO ALTO Address: 925 Addison Avenue List price:$8,500,000 Bedrooms: 6 Bathrooms: 5.5 Interior: 4,469 sf Lot size: .28 acre Year built: 2006 Walk score: 54 Description: Contemporary home designed by Maydan Architects, renowned for the Houzz headquarters in Palo Alto. Dramatic main residence and spacious second residence ideal for guests or a home business with more than 4,400 total square feet of living space.

Floating staircase, walls of glass, limestone and white oak floors, European kitchen cabinetry and fixtures throughout. Family room doubles as a home theater.

There is a main-level suite, an upstairs master suite, plus three additional bedrooms and an office/study and library.

LOS ALTOS HILLS Address: 26990 Taaffe Road List price: $8,000,000 Bedrooms: 5 Bathrooms: 4.5 Interior: 5,015 sf Lot size: 1.26 acres Year built: 1999 Walk score: 3 Description: Timeless custom home with two offices, living room with fireplace opening to a raised patio with a view. Family room with high ceilings, gourmet kitchen with professional-grade appliances and a temperature-controlled wine room and walk-in pantry, large nook next to the kitchen area and a luxurious master bedroom with sitting area overlooking the pool. Detailed craftsmanship and design include limestone entry and hallways, crown moldings, and hardwood floors.

Under $15 million

Under $18 million

ATHERTON Address: 385 Fletcher Drive List price: $14,900,000 Bedrooms: 6 Bathrooms: 7 full; 3 half Interior: 9,742 sf Lot size: .89 acre Year built: 2018 Walk score: 1 Description: This new home has a modern design. White oak floors throughout. The three levels can all accessed by an elevator. Amenities include a theater with custom seating for seven people, a wine cellar, recreation room with full bar and a fitness center. Each bedroom has an en-suite bath. Outside includes a waterfall terrace, sparkling pool and spa, fire pit and barbecue center. Detached 3-car garage.

ATHERTON Address: 390 Stevick Drive List price: $13,380,000 Bedrooms: 5 Bathrooms: 4.5 Interior: 6,102 sf Lot size: 1.06 acres Year built: 2008 Walk score: 2 Description: Custom-built contemporary home with an open floor plan. Details include hand-cut stone walls inside and out, mahogany doors, reclaimed ceiling beams, custom-finished white oak floors, plaster walls, electronically controlled privacy shades in the master suite and great room. Finished 1,467-square-foot basement. Elevator from garage to main level; automatic backup generator for entire property. Caretakerâ&#x20AC;&#x2122;s apartment attached to main house and separate one-bedroom one-bath guest house with full kitchen. Pool/spa with solar pool cover. Arbor-covered cabana with barbecue kitchen.

PORTOLA VALLEY Address: 12 Arastradero Road List price: $14,495,000 Bedrooms: 5 Bathrooms: 6 Interior: 3,668 sf Lot size: 13.84 acres Year built: 1955 Walk score: 6 Description: This property is located at the end of a private road, with spectacular views of Arastradero Preserve open space, San Francisco Bay, and the western hills. There are two separate parcels, an existing house, and pool.

PORTOLA VALLEY Address: 880 Westridge Drive List price: $16,500,000 Bedrooms: 5 Bathrooms: 5 Interior: 6,610 sf Lot size: 9.77 acres Year built: 1957 Walk score: 0 Description: This landmark property was built in 1957 for one of the founders of Sunset Magazine.

The setting encompasses almost 10 acres, with vast open meadows, magnificent gardens, and endless views out to Windy Hill. Designed by noted architect Cliff May in the California adobe style with Spanish tile floors, beamed and paneled vaulted ceilings, and skylights at every turn. Floorto-ceiling windows and glass doors have sweeping views. A pool house with adjoining private office plus a separate 1-bedroom guest house offer additional accommodations. Full equestrian facilities can be found at the 3-stall barn with riding ring plus a pool and spa.

The Almanac | Palo Alto Weekly â&#x20AC;˘ Page 43

4

Page 44 • The Almanac | Palo Alto Weekly

3.5

3240±

11319±

2018 | FALL REAL ESTATE

555 BYRON STREET NO. 207 PALO ALTO

Market Watch

Multi-family building under construction

by Elizabeth Lorenz

T

he Palo Alto City Council approved this project in 2018 as a way to allow potential workers to live closer to work so they wouldn’t need to drive.

Weekly file photo

Name of project: Workforce housing Address: 2755 El Camino Real, Palo Alto Project description: An apartment development with 57 units referred to as “workforce housing” and “car-light.” With the building’s central location and apartments averaging 526 square feet each, proponents see it as the perfect project to address the “missing middle” class -- employees and residents who make too much money to qualify for traditional below-marketrate housing but not enough to afford the city’s sky-high market rates. By giving each resident a suite of incentives to avoid driving -- including public transit passes, bike amenities and an onsite trip coordinator -- the project also represents a critical test case in Palo Alto’s much-touted pivot toward “transit-oriented development.”

Developer: Windy Hill Property Ventures Cost: Not available.

Offered for $1,395,000 ••••••••••••••••

THE HAMILTON A 55+ Community in Downtown Palo Alto

Today’s news, sports & hot picks

The local news you care about is one click away.

Receive information on what’s happening in your community by email every day.

Sign up today at PaloAltoOnline.com The Almanac | Palo Alto Weekly • Page 45

Since its inception in 2012, Sereno Group’s 1% For Good program has donated $2,148,723 to local organizations in an effort to support those groups making a positive difference within our communities. It is our mission to create a culture that is mindful of our responsibility to our earth and to our community. We are continually exploring ways in which to improve our use of resources and our ability to support the community through volunteering and philanthropy.

WWW.SERENOGROUP.COM PALO ALTO // LOS ALTOS // SARATOGA // LOS GATOS // LOS GATOS NORTHPOINT // WILLOW GLEN // SANTA CRUZ // APTOS

Page 46 • The Almanac | Palo Alto Weekly

PROPERTY S HOWCASE FOR SALE

BY HUGH CORNISH FOR SALE

GRAND TUDOR ESTATE WITH BAY VIEWS

19-ACRE EXTRAORDINARY RENOVATION

125 LAKEVIEW DRIVE, WOODSIDE

EXCEPTIONAL ESTATE*

Sweeping Bay views, resort-inspired grounds; main residence with 5 bedrooms, 5 full and 2 half-baths, pool house; 1.5 acres

5-bedroom, 4.5-bath main residence; 1-bedroom, 1-bath guest house; ~9,400 total sq. ft.; ~19 acres

Offered at $7,850,000

125Lakeview.com

Offered at $10,995,000

ExceptionalWoodsideEstate.com *Co-list with Erika Demma

FOR SALE

FOR SALE

PRIVACY AND VIEWS OF THE WESTERN HILLS

LANDMARK ESTATE - LA QUINTA HERMOSA

167 RAMOSO ROAD, PORTOLA VALLEY

880 WESTRIDGE DRIVE, PORTOLA VALLEY

Desirable Westridge area on private 2.5 acres, move-in, remodel or build new; current home with 6 bedrooms, 5 baths, and pool

5-bedroom, 5-bath main home, 1-bedroom guest house, pool house, pool, spa, and barn; over 9.7 acres

Offered at $5,495,000

167Ramoso.com

FOR SALE

Offered at $16,500,000

LaQuintaHermosaPV.com

FOR SALE

STRIKING MODERN OASIS

ONCE-IN-A-LIFETIME OPPORTUNITY

707 WESTRIDGE DRIVE, PORTOLA VALLEY

12 ARASTRADERO ROAD, PORTOLA VALLEY

Energy-efficient, 5 bedrooms, office, 5 full baths, 3 half-baths, pool, and spa; approximately 2.5 acres

Spectacular unobstructed views, 2 parcels, 5-bedroom, 4-bath home, and pool; over 13.8 acres

Offered at $10,995,000

707Westridge.com

Offered at $14,495,000

12Arastradero.com

www.HughCornish.com Ranked Top 1% Internationally – Coldwell Banker

650.566.5353 hcornish@cbnorcal.com

Ranked #210 Nationally

CalRE#00912143

by The Wall Street Journal, 2018

Over $2 Billion in Sales

Providing A Network of Reputable Home-Improvement Professionals

Residential Brokerage

The Almanac | Palo Alto Weekly • Page 47

CURRENTLY FOR SALE by BRENT & MARY

OAK GROVE AVENUE, ATHERTON

385 FLETCHER DRIVE, ATHERTON

Lot size: Approx. 1.25 acres | Offered at $17,500,000

Lot size: Approx. 38,766 sf | Offered at $14,900,000

[ www.ChezAmi.com ]

[ www.385Fletcher.com ]

122 LAKEVIEW DRIVE, WOODSIDE

80 ROBERTA DRIVE, WOODSIDE

Rare 20 acres | Offered at $12,500,000

Lot size: Approx. 3.3 acres | Offered at $9,995,000

[ www.gullixson.com ]

[ www.80Roberta.com ]

333 FLETCHER DRIVE, ATHERTON

IMPRESSIVE NEW CONTEMPORARY, ATHERTON

Lot size: Approx. 44,055 sf | Offered at $10,288,888

Lot size: Approx. 1.63 acres | Offered at $29,800,000

[ www333Fletcher.com ]

[ www.modernathertonestate.com ]

Mary & Brent are ranked the

#18 team in the nation in The Wall Street Journal report of the Top Residential Real Estate Professionals (published June 2018).

MARY GULLIXSON

650.888.0860 mary@apr.com CalRE# 00373961

BRENT GULLIXSON

650.888.4898 brent@gullixson.com

GULLIXSON.COM

CalRE# 01329216

Information deemed reliable, but not guaranteed. Square footage and/or acreage information contained herein has been received from seller, existing reports, appraisals, public records and/or other sources deemed reliable.

However, neither seller nor listing agent has verified this information. If this information is important to buyer in determining whether to buy or to purchase price, buyer should conduct buyer’s own investigation.

Page 48 • The Almanac | Palo Alto Weekly