Fall Real Estate 2019

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FALL 2 019

O F T H E

A LM A N AC

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Real Estate

Entry-level homes are hot point for fall market

How Midpeninsula real estate stays resilient Page 22

A N D

Luxury home sales have cooled, but homes $3M and under remain a draw Page 6

What can you buy for under $3 million? Page 25

Whether you’re buying or selling in this changing market, Elaine White is your best advocate. IN BES S. T BE DE ACAL H!

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“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,

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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

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Michael Repka, DeLeon Realty CEO, on a recent business trip to Hong Kong over Labor Day weekend 2019

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The Almanac | Palo Alto Weekly • Page 3

22

What to expect for the fall Midpeninsula market

Neighborhood Snapshot: Professorville A block party builds community in a desirable enclave

25

Browsing by Budget

34

By the Numbers

Real Estate Matters Recent downturns show how some segments of the local market stay strong

36

A look at Midpeninsula homes in various price ranges

A snapshot of Palo Alto’s real estate market

FALL 2 0 1 9

Weekly file photo

6 14

Cover Story

6

Weekly file photo

Real Estate

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

14

Market Watch Local mixed-use building under construction

Editor: Heather Zimmerman Designer: Rosanna Kuruppu On the cover: Local Realtors say that homes priced at $3 million and under, in more established urban areas of the Midpeninsula, are poised to stay strong as the higher end of the market seems to be slowing down this fall. Photo by Michelle Le.

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Compass is the brand name used for services provided by one or more of the Compass group of subsidiary companies. Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01079009. All material presented herein is intended for informational ltoldpOp db_| BbM Wp KdalW_OM Toda pdtoKOp MOOaOM oO_WBJ_O Jts VBp bds JOOb yOoW OMà VBbUOp Wb loWKOÛ KdbMWsWdbÛ pB_O do zWsVMoBzB_ aB| JO aBMO zWsVdts bdsWKOà !d psBsOaObs Wp aBMO Bp sd BKKtoBK| dT Bb| MOpKoWlsWdbà __ aOBptoOaObsp BbM pntBoO TddsBUO BoO Bllod{WaBsOà

The Almanac | Palo Alto Weekly • Page 5

2019 | FALL REAL ESTATE

COV E R S T O R Y

Fall

may mark the arrival of a ‘normal’

market

More modestly priced homes, by Midpeninsula standards, are likely to be the stronger sellers this season by David Goll Sammy Dallal

Page 6 • The Almanac | Palo Alto Weekly

2019 | FALL REAL ESTATE

M

Sammy Dallal

Veronica Weber

idpeninsula real estate has not been what one would consider “normal” for most of the past decade, which draws to a close in just a few months. Robust. Torrid. Sizzling. Even stratospheric. Anything but “normal.” While local Realtors predict a healthy residential market for Autumn 2019, soaring prices and appreciation, properties selling within a few days and prospective buyers lining up out to the street are a distant memory. Depending on the area, prices could increase in the single digits. “Prices have certainly evened out,” said Elyse Barca, Realtor in the Menlo Park office of Pacific Union. “Which is not a bad thing. It’s a more normal market this year.” Selma Hepp, vice president of business intelligence for Pacific Union, said what characterizes 2019 has been a “normalization” of the market compared to the frenetic activity of Spring 2018. Even by the region’s lofty, pricey standards, it has become more of a buyers’ market again. Leannah Hunt, Realtor in the Palo Alto office of Sereno Group, says the fall market will be good — though probably not quite robust. Sellers of homes in higher-priced categories Realtor Elyse Barca, with Pacific Union in Menlo Park, said that the growing popularity of accessory dwelling units (ADUs) will likely have to consider reductions. is helping to improve inventory. There are many in the market, scattered around the region from San Mateo down to Los Altos Hills, in the $4 Palo Alto office of Coldwell Banker million to $5 million-and-up category, Real Estate, said she views the fall market as softer than last spring’s, she said. Most of the action this fall, accord- but better than fall 2018. Lower ining to Hunt and her fellow Realtors, terest rates this autumn are a major will be in the less-expensive market advantage. “People were very nervous a year below $3 million and in established, ago,” Lee said. “Things were hapmore urban areas. “Interest still focuses in established pening. And they could still happen: neighborhoods in Palo Alto, Menlo trade wars, the stock market. These are events that can either Park and Los Altos,” motivate people to buy she said. “Trying to or remain sitting on the avoid longer commutes is one of the biggest ‘This has not been fence.” But for those who factors.” a crazy or insane need to buy this year, Even in these inthis is probably the demand cities, the market. There’s red-hot market has been an economic most affordable market during the past six cooled. By late sum- reason for it.’ years, she said. Espemer, the median home —Brian Chancellor, cially for those averse value in Palo Alto vice president and sales to bidding wars. had decreased 13.2% manager, Palo Alto office “Well-priced, wellfrom a year before to of Sereno Group prepared properties are $2,830,400, according not typically drawing to Zillow Group Inc., 10 or 15 offers now,” the Seattle-based online real estate database company. That Lee said. “More like two or three.” Lee said she does see homes sitting figure was $2,223,400 in Menlo Park, an 8% decline from a year before; and on the market longer these days, some$1,736,800 in Mountain View, down times because sellers are reluctant to reduce prices. 9.3%. “We’ve even seen homes near One of the factors that will buoy the market this fall is low interest rates, Google in Mountain View sit for 40 which, some predict, may drop even days or more,” she said. This year has been a cooling-off pefurther. “Interest rates are compelling for riod of sorts for a market that has seen buyers,” Barca said. “That will cer- an “unprecedented run of appreciation tainly help fuel the market. Afford- in recent years,” said Brian Chancellor, ability is still a problem, not only here, vice president and sales manager in the Palo Alto office of Sereno Group. but around the Bay Area.” “But it has been justified,” he said. But it’s not just low interest rates, Hepp said. Recent price declines are “This has not been a crazy or insane also stimulating a market in which market. There’s been an economic entry-level housing is generating the reason for it.” Chancellor said the Midpeninsula lion’s share of activity, Hepp said. “The $3 million and above market still draws an elite class of people has definitely slowed more so than en- from all over the world. Homes in more established urban neighborhoods, such as this one in Palo Alto, will “This is a global place,” he said. try-level,” Hepp said. “The $1 million see the most action this fall, said Leannah Hunt, a Realtor with the Sereno Group market is doing very well.” in Palo Alto. (continued on page 10) Clara Lee, a Realtor based in the The Almanac | Palo Alto Weekly • Page 7

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The Almanac | Palo Alto Weekly • Page 9

2019 | FALL REAL ESTATE

COV E R S T O R Y

Veronica Weber

Buyers who would like to avoid bidding wars may find a friendlier market this fall, said Clara Lee, a Realtor with Coldwell Banker in Palo Alto.

Sammy Dallal

Fall trends (continued from page 7)

“This place attracts accomplished people who tend to be well-off. They come for the quality of life, the great educational institutions, the proximity to San Francisco, Big Sur, Yosemite, southern California. This is a perfect storm — in a positive way.” That global perspective and connection also means the area’s housing market can be affected by national and international events, economics, politics and trends, Chancellor said.

“Trade issues, the stock market, Brexit, electoral politics, they can all have an impact on the real estate market,” he said. Chancellor shares his colleagues’ predictions of a steadier, less-volatile local residential market this fall. The frequent problem of low inventory should improve a bit, and with “attractive” interest rates, sales could range from reasonably good to brisk, depending on price and location, he said. Barca contends the growing popularity of accessory dwelling units, or ADUs, is providing a valuable way for local and

state officials to improve tight inventory. She said a client has built a 6,000-squarefoot home in Menlo Park with a separate one-bedroom unit — including a kitchen, living area and its own entrance — as part of the larger structure. “A really smart and clever way to handle a lack of inventory,” she said. Barca said, regardless of big or small inventory shortages, it’s difficult for a region like the Midpeninsula to not have an active real estate market. “The economy and job market are so strong,” she said. “We have big expansions of major facilities like the

Stanford Medical Center. There is so much business activity and so much demand.” A robust job market is one of the region’s — and the local real estate market’s — greatest assets, Hepp agreed. “The rate of job creation in Silicon Valley is incredible,” she said. “The Bay Area’s continues to be the greatest beneficiaries of venture capital. it’s all very helpful to the real estate industry.” Q David Goll is a freelance writer. He can be emailed at David.w.goll@ gmail.com.

2019 1st Half - Condominiums and Townhomes January-June 2019

2019 1st Half - Single Family Homes January-June 2019

Palo Alto Los Altos Los Altos Hills Mountain View

Number of Sales 166 145 23 102

Median Sales Price $3,087,500 $3,300,000 $4,500,000 $2,207,500

Median Days on Market 10 10 16 11

Atherton East Palo Alto Menlo Park Portola Valley Woodside

33 45 178 26 32

$7,100,000 $1,000,000 $2,500,000 $3,275,000 $2,932,500

39 18 13 19 23

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

Number of Sales 36 20 — 145 — 3 42 — —

Median Sales Price $1,307,500 $1,749,500 — $1,168,000 — $541,000 $1,593,500 — —

Information provided by the Silicon Valley Association of Realtors from MLSListings Inc. Note: Rural areas do not have significant townhome sales. Page 10 • The Almanac | Palo Alto Weekly

Median Days on Market 14 8 — 10 — 42 14 — —

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The Almanac | Palo Alto Weekly • Page 11

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Page 12 • The Almanac | Palo Alto Weekly

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The Almanac | Palo Alto Weekly • Page 13

2019 | FALL REAL ESTATE

NEIGHBORHOO D PROFILE

Professorville adds community-building to its list of desirable features

I

n the dappled sunlight of a warm afternoon, 26 Professorville residents gathered in the street in a wide circle to squat and lunge. Creaky knees and stiff lower backs got a gentle workout as participants stretched one leg forward or lowered themselves toward the ground. Isaac Morse, fitness coach/ owner at Acro Vitality, was leading the lesson in the middle of the 500-block of Kellogg Avenue between Webster and Tasso streets. “These moves are the canary in the coal mine,” he said, regarding whether people will retain agility as they age or end up in a wheelchair or be unable to rise on their own. It’s the second year Morse has come to the Professorville East

BY SUE DREMANN

block party, a gathering that has taken place for at least seven years. Doughnut limbo. Blind wine tasting. Fajitas. Neighbors old and young, newcomers and decadeslong fixtures came out on thie early fall afternoon. Sipping wine and margaritas to live music by Gypsy jazz band Farouche, they reveled in the annual ritual. They held new babies, regaled each other with tales of travel, and introduced themselves to those they had not met before. Young children jumped happily in the inflatable bouncy house; middle-schoolers tried snagging bites of sugary doughnuts dangling from strings in a limbo game. For one afternoon, the months

Page 14 • The Almanac | Palo Alto Weekly

Federica Armstrong

A neighborhood affair

Professorville block party co-organizer Melanie Mahtani talks to resident Winnie Dao about signing up on the neighborhood map at the annual block party held this fall.

of rushing kids to soccer matches, hustling off to work and dashing outside to put out the trash all melted away. People stopped to pet dogs, share food, beverages and homemade desserts and take time to make the time-old human connections comprising the lifeblood of any neighborhood. Melanie Mahtani, who spearheaded the event with her spouse, Lisa Kenkel, welcomed the neighbors and handed out name tags. People added their names to the addresses on a neighborhood map. “It’s really about bringing people together,” Mahtani said. Kenkel agreed. “Because of this event, we know people on every block,” she said.

Putting together the Professorville block party is a lesson in community-building in itself. Each year up to 20 residents start in the spring to plan the autumn fete. The event seems likely to only add to the desirability of this already sought-after historic neighborhood. Originally defined by a small cluster of homes on Lincoln and Kingsley avenues, as well as intersecting blocks of Bryant, Ramona and Emerson streets, Professorville — named after the Stanford professors who chose to reside there — and its historic district, have grown to include Waverley Street to the east side of Cowper Street. These sections were added to the community in 1979 and 1993. More recently, Professorville is now referred to as the section of homes between Addison Avenue, Webster Street, Embarcadero Road and Emerson Street. The community’s proximity to downtown, shopping, public transportation and schools are just a few of the reasons the area has

become desirable. Once-sporadic block parties in the neighborhood became an annual event after Kenkel and Mahtani took Community Emergency Response Training (CERT) classes. They realized it is crucial to know one’s neighbors, Kenkel said. The block party offers an opportunity to “get a temperature” on the neighborhood — to know the animals, children, who lives in a particular house and which neighbors are going to need assistance, Kenkel said. “It’s certainly much more enjoyable to go through the neighborhood and not just glance at houses. You think of who is in those homes. You are much more apt to engage when you see people,” she said. Claire Lauing presided over a giant paella cooker, grilling chicken fajitas. Each year, Lauing has cooked paella to share with all, but this time around she said she decided to switch to fajitas, a tasty and colorful melange of (continued on page 17)

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Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been yOoW OMà VBbUOp Wb loWKOÛ KdbMWsWdbÛ pB_O do zWsVMoBzB_ aB| JO aBMO zWsVdts bdsWKOà !d psBsOaObs Wp aBMO Bp sd BKKtoBK| dT Bb| MOpKoWlsWdbà __ aOBptoOaObsp BbM pntBoO TddsBUO BoO Bllod{WaBsOà

2019 | FALL REAL ESTATE

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Page 16 • The Almanac | Palo Alto Weekly

YOUR SATISFACTION IS MY SUCCESS!

Weekly file photo

2019 | FALL REAL ESTATE

Homes in this historic neighborhood are often shingled, with large wrap-around bungalow-style porches. Lots can be small, with cottage-style homes, or larger with two-story Craftsman or farmhouse type homes set on them.

Neighborhood (continued from page 14)

spicy poultry and vegetables spooned into flour tortillas. Jack Halliday, a 44-year resident, sat at a picnic table enjoying one of the filled, rolled-up tortillas. He’s watched generations grow up here and he has no desire to leave. “People say, ‘You’re retired. Don’t you want to go to a retirement community?’ I say, ‘No. I like to see kids,” he said. The neighborhood has changed some over the years, with a new and vibrant diversity. A number of new immigrants now inhabit the neighborhood, adding to the colorful mix of cultures and life experiences. “That’s what makes the neighborhood,” Halliday said. Farther toward Tasso Street, the winetasting table was a central hub of activity. Mike Schonenberg poured 10 samples of various wines — reds and whites — into plastic cups. Each bottle was cloaked in brown paper. Participants tasted two samples each of five varietals, trying to judge which was the costlier wine. Schonenberg and his wife, Tracy Neistadt, have lived in this neighborhood for 12 years. “I love the neighborhood. I’m able to

walk to downtown Palo Alto and I can go to Stanford football games,” she said. “When I see the kids riding bikes to school, it warms my heart and I feel a sense of community.” Veronica Dao, who scored the wine-tasting contest, grew up in Professorville. When she attended Palo Alto High School, it was easy to make friends, she said. She moved back to live with her parents after attending college. “I’ve always enjoyed living here. I’m close with my neighbors,” she said. Dao works for the city of Palo Alto planning department in administration. Her job has taught her that Professorville is a special place. “I get many calls from other people complaining about their neighborhoods, and that’s a very different experience than for me,” she said. Mahtani said she’s building on that sense of community. But she hopes to reach the other members of her neighborhood; the ones who don’t show up to the block party and have a harder time getting to know each other, she said. “I wonder how to draw them out. I’m grateful that every year more and more people attend. Even if it’s only for one day, it takes a lot of personal trust and engagement to say ‘This is my community,’” she said. Q Staff Writer Sue Dremann can be emailed at sdremann@paweekly.com.

FACTS CHILDCARE AND PRESCHOOLS (NEARBY) Addison Kids’ Club, 650 Addison Ave.; Downtown Child Care Center, 848 Ramona St.; The Learning Center, 459 Kingsley Ave.; Downtown Children’s Center, 555 Waverley St., Discovery Children’s House, 437 Webster St.; Duveneck Kids’ Club, 705 Alester Ave.

Health and fitness coach Isaac Morse leads a session of squats and lunges for partygoers during the annual Professorville block party.

FIRE STATION, No. 1, 301 Alma St., and No. 3, 799 Embarcadero Road (currently under construction) LIBRARY: Downtown branch, 270 Forest Ave. LOCATION: Bounded by Addison Avenue, Webster Street, Embarcadero Road and Emerson Street. PARKS: Scott Street Mini Park, Scott Street and Channing Avenue; Heritage Park, Homer Avenue and Waverley Street. POST OFFICE: Hamilton, 380 Hamilton Ave. PRIVATE SCHOOLS (NEARBY): Castilleja School, 1310 Bryant St.; AltSchool, 930 Emerson St.; Federica Armstrong

PUBLIC SCHOOLS: Addison Elementary School, Greene Middle School, Palo Alto High School SHOPPING: University Avenue; Town & Country Village The Almanac | Palo Alto Weekly • Page 17

Open House

212 Santa Margarita Avenue

Saturday & Sunday 2 – 4pm

Menlo Park 3 Bed 3 Bath 1,464 Sq Ft $2,100,000 • • •

•

•

Located on one of the quaintest and soughtafter streets in Seminary Oaks Lovely, single level 2 bedroom, 2 bath home with a separate guest cottage Inviting front porch leads into a large living room zWsV JOBtsWTt_ JtW_søWbp BbM bOz_| oO bWpVOM VBoMzddM ddop /tbø __OMÛ OBsøWb ^WsKVOb zWsV szd p^|_WUVsp and Island overlooks the beautifully manicured gardens and fountain Guest cottage with French doors leading to the backyard has high ceilings, full bath, and a kitchenette. It is ideal for extended family, a VdaO dT KOÛ do Bb Bt lBWo

555 Byron Street, Unit 309 Menlo Park 2 Bed 3 Bath 2,067 Sq Ft $2,395,000 • • •

• • •

In the heart of downtown Palo Alto Onsite 24-hour security and all the same amenities as you would at many 5-star resorts One of the largest units in the building with over 2067 sq ft of living space and 2 private balconies overlooking the beautiful interior courtyard Generously-sized eat in kitchen opens to the living room Light, bright living room has built-ins, crown moldings, JOyOoBUO ToWMUOÛ UBp oOl_BKOÛ BbM B TdoaB_ MWbWbU BoOB Bedrooms are en suites with massive walk-in closets and new carpeting

Monica Corman

Mandy Montoya

650.465.5971 monica@monicacorman.com DRE 01111473

650.823.8212 mandy@mandymontoya.com DRE 01911643

Rankings provided courtesy of Real Trends, The Thousand list of individual agents by total sales volume in 2018. Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. WKObpO !taJOo à __ aBsOoWB_ loOpObsOM VOoOWb Wp WbsObMOM Tdo WbTdoaBsWdbB_ ltoldpOp db_| BbM Wp KdalW_OM Toda pdtoKOp MOOaOM oO_WBJ_O Jts VBp bds JOOb yOoW OMà VBbUOp Wb loWKOÛ KdbMWsWdbÛ pB_O do zWsVMoBzB_ aB| JO made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate.

Page 18 • The Almanac | Palo Alto Weekly

Open House Sunday 2 – 4pm

Experiences You Can Trust! Combined 50+ years of experiences

$460 Million+ Sales Volume 210+ Buyers Transactions 75+ Homes Sold in Palo Alto

320+ Number of Properties Sold 110+ Sellers Transactions 50+ Homes Sold in Mountain View

Your trusted real estate advisors and neighborhood specialists for all your real estate needs Julie Tsai Law Broker Associate, CRS, SRES, MBA 650.799.8888 julie@julietsailaw.com julietsailaw.com DRE #01339682

Kristin Tsai Realtor 408.605.8000 kristin@julietsailaw.com julietsailaw.com DRE #01294153

The Almanac | Palo Alto Weekly • Page 19

EXCEPTIONAL PENINSULA PROPERT

ATHERTON 1+ Acre Lot with Rare Western Hill Views ļ›Û—“› pnà Tsà îWbK_tMOp UBoBUOï Åš 85Belbrook.com

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WEST ATHERTON Excellent Opportunity to Build | 95mesa.com Almost 1 Acre with Views | Excellent Las Lomitas schools

CENTRAL ATHERTON 2 Beautifully Landscaped Level Acres Outstanding Opportunity to Renovate or Build New | 202atherton.com

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Page 20 • The Almanac | Palo Alto Weekly

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these and other current listings available on our web-site

MENLO PARK Desirable Sharon Heights home with Bay Views ļ æ KoO Ś .ObdyBsOM JOMÛ JBsVÛ ļ Û pnà Tsà Ś 2325Tioga.com

PALO ALTO ļà KoO ds œ ļ Û pnà Tsà VdaO Ś 3124Alexis.com Views of the Bay and Palo Alto Hills Golf & Country Club

MARY GULLIXSON

BRENT GULLIXSON

650.888.0860 mary@gullixson.com

650.888.4898 brent@gullixson.com

DRE# 00373961

DRE# 01329216

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. All material presented herein is intended for informational purposes only BbM Wp KdalW_OM Toda pdtoKOp MOOaOM oO_WBJ_O Jts VBp bds JOOb yOoW OMà VBbUOp Wb loWKOÛ KdbMWsWdbÛ pB_O do zWsVMoBzB_ aB| JO aBMO zWsVdts bdsWKOà !d psBsOaObs Wp aBMO Bp sd BKKtoBK| dT Bb| MOpKoWlsWdbà All measurements and square footages are approximate.

The Almanac | Palo Alto Weekly • Page 21

2019 | FALL REAL ESTATE

R E A L E S TAT E M AT T E R S

Weekly file photo

The sky isn’t falling yet

Well-maintained homes in good locations are likely to hold their value in a slower economy, as the numbers from recent downturns show.

Past numbers show local market has some resilience, even during downturns

T

Xin Jiang

Since 2013 Together, We Prosper.

The Juliana Lee Education Foundation was created to support local schools and believes education has the power to expand opportunities and transform lives. We hope to inspire others to get involved and support our communities. This Foundation has provided grants to the following: • PiE (Palo Alto Partners in

Education) • Bubb Elementary PTA • Gunn High School • JLS Middle School • Palo Alto High School • East Palo Alto schools • East Menlo Park schools

• Menlo Park Atherton Education Foundation • Mountain View Los Altos Education Foundation • Ohlone Elementary School PTA • Hoover Elementary School PTA

• Palo Verde Elementary School • Palo Alto Chinese School • Fletcher Middle School PTA • Walter Hays Elementary School • Palo Alto Museum

650.857.1000 | JulianaLee.com | 4260 El Camino Real, Palo Alto Page 22 • The Almanac | Palo Alto Weekly

By Xin Jiang his year has been an interesting one so far. It started with the hopes that highly anticipated tech IPOs would drive another housing bubble. But as 2019 has unfolded, it has been the U.S.-China trade war and the Federal Reserve’s interest rate policy, that have dominated the headlines and have had lasting impacts — not the unicorns. Once the weak sales data became available, the media started to talk about Silicon Valley’s housing market boom finally turning to bust. As the top destination of both domestic and international buyers, Palo Alto is at the center of the changing market dynamics and serves as a leading indicator among neighboring Bay Area cities. Total dollar amount of homes sold up until Sept. 13 in 2019 fell by 26% compared with that of a year ago. The median price of all sold homes has been on a gradual decline from $3.11 million in the first quarter of 2018 to $2.85 million for the third quarter so far this year. It now takes, on average, 25 days to sell a home, the longest since 2015. However, the sky is hardly falling — at least not yet. A typical housing market crash in recent decades was a decline in price of 10% or more, year over year, with prices staying low for two to three years. When the tech bubble burst in 2001, Palo Alto’s median home price dropped 11%. During the 2009 financial crisis, it went down 10%. What’s worth noting is that the 10 to 11 percentage decline was for the entire market and individual homes varied significantly. A home in good condition in an ideal location might actually hold its price, while the price of a poorly maintained home with a significant location discount might fall three to four times more than the market average. After 2001 and 2009, it took the market two years to turn around. From the price point of view, we are not yet in a crash. Inventory, or transaction volume, also plays a bigger role when the market crashes, the same as high trading volume when the stock market dives. A meaningful decline in home prices after several years of continuous appreciation normally provides

incentives to existing homeowners to accelerate the process of either downsizing or upgrading. As around one-fourth of the residential homes in Palo Alto are not owner-occupied, and most of them are investment properties, the decline may also trigger property investors to divest portfolio holdings in less desirable locations. After the tech bubble burst in 2001, the number of homes coming to market jumped by 12%. Similarly, during the 2009 financial crisis, the number of new listings jumped by 7%. On the contrary, the number of new listings so far this year declined by 13% from a year ago and remained at a historically low level. The reason could be because homeowners haven’t fully digested the possibility of a prolonged soft market, or the capital-gains tax consequences after an extended bull cycle still outweighs other considerations. Judging by the inventory, we are not in a crash either. As the consensus on the U.S. economy shifts from a cyclical recession to stable and moderate growth, will the housing market of Palo Alto stay flat over the next couple of years or become an accelerated decline? One wildcard yet to take effect is whether new IPO wealth will give a boost to housing demands, as most of the offerings have begun to hit their lockup expirations, allowing shareholders to trade their stock. For both buyers and sellers, it’s often impossible to try to time the market. With the conviction of long-term homeownership, it’s a good time to buy, as rising market uncertainties tend to make competitors hesitate. Buyers should focus more on sorting out the family’s needs over various time horizons, understanding the neighborhood and candidate property with due diligence to grasp exactly what they’re buying into. For sellers, home prices are still near historic highs, and tax rate is probably at a historic low. It is critical for sellers to work with trustworthy local real-estate professionals and adjust expectations according to the latest market conditions. Q Xin Jiang is a real estate agent with Compass in Palo Alto. She can be emailed at xin.jiang@compass.com.

Juliana Lee Silicon Valley Real Estate 650•857•1000 julianalee.com

JLee Realty 4260 El Camino Real Palo Alto

Call Juliana Lee for all of your real estate needs: selling, buying, understanding the real estate market in your neighborhood, needed real estate tax advice, and much more. I just moved into my own office building. My daughter Jade is now the managing broker for the Juliana Lee Team. Please stop by and visit or come to one of my seminars — julianalee.com/seminar I hope to see you, Juliana

Palo Alto is in my DNA. As a third-generation native, it is an incredible privilege to share my love for this town by helping my clients manifest their real estate dreams.

Winter Lodge Ice Skating Rink, Palo Alto

As a Palo Alto native, I’ve helped local buyers and sellers manifest extraordinary real estate outcomes for over 17 years. Results + Personal Service that go beyond the ordinary.

KATHLEEN PASIN REAL ESTATE

(650) 450-1912 kathleen@kathleenpasin.com www.kathleenpasin.com DRE # 01396779 7KLV LQIRUPDWLRQ ZDV VXSSOLHG E\ WKLUG SDUW\ VRXUFHV 6DOHV $VVRFLDWH EHOLHYHV WKLV LQIRUPDWLRQ LV FRUUHFW EXW KDV QRW YHULȴHG WKLV LQIRUPDWLRQ DQG DVVXPHV QR OHJDO UHVSRQVLELOLW\ IRU LWV DFFXUDF\ %X\HU VKRXOG YHULI\ DFFXUDF\ DQG LQYHVWLJDWH WR %X\HUȇV RZQ VDWLVIDFWLRQ

2019 | FALL REAL ESTATE

B ROWSING BY BUDGET

Under $1 million

What can you buy on the Midpeninsula? Under $1 million

Under $2 million

EAST PALO ALTO

PALO ALTO

Address: 1982 W. Bayshore Road, Apt. 334 List price: $629,000 Bedrooms: 1 Bathrooms: 1 Interior: 776 sf Lot size: n/a Year built: 2002 Description: Bright, spacious unit on top floor in Woodland Creek’s gated community. Vaulted ceilings, living room with slider to private balcony, kitchen with new stainless steel appliances, laminate flooring throughout, bedroom with walkin closet and vaulted ceilings, Inside laundry with storage space. Private balcony, underground parking. Complex offers a pool, spa, gym and gated access. Just minutes from 101 for the commuter, downtown Palo Alto shopping and fine dining, Stanford University and Stanford Shopping Center.

Address: 2136 Bowdoin St. List price: $1,650,000 Bedrooms: 1 Bathrooms: 1 Interior: 636 sf Lot size: 1,942 sf Year built: 1931 Description: Spanish revival cottage with intricate roof tiling, stuccoed walls, and gorgeous archways. Located in the heart of College Terrace, with the opportunity to expand in one of the most desirable neighborhoods in Palo Alto. Short walk to Stanford University and other top rated schools. Convenient commuter routes leading to the greater Bay Area.

MOUNTAIN VIEW

PALO ALTO

Address: 532 Tyrella Ave #8, Mountain View List price: $988,000 Bedrooms: 3 Bathrooms: 1.5 Interior: 1,128 sf Lot size: n/a Year built: 1971 Description: Beautifully updated two-story townhome. Open-concept floor plan, vaulted wood-beamed ceilings. Chef’s kitchen, light quartz countertops, stainless steel appliances. Fenced rear yard with dining patio. Desirable private community in the Whisman neighborhood. Community amenities include a clubhouse and swimming pool. Just 1.2 miles to downtown and less than 3 miles to Google, LinkedIn, and nearby Stevens Creek Trail for bike commuting and hiking.

Address: 949 Scott St. List price: $1,995,000 Bedrooms: 2 Bathrooms: 1 Interior: 840 sf Lot size: 1,500 sf Year built: 1920 Description: Unique location on a block-long street ending in a cul-de-sac and pristine neighborhood park, near downtown amenities. House has been meticulously modernized yet maintains the classic feeling of a heritage jewel box. Use as a personal residence, guest house, private office, residence for extended family or college student, or a long-term rental investment.

PALO ALTO Address: 4250 El Camino Real, Apt. D129 List price: $888,000 Bedrooms: 1 Bathrooms: 1 Interior: 682 sf Lot size: n/a Year built: 1983 Description: Open floor plan with an expansive private patio overlooking a garden area. Updated bathroom. Modern kitchen features updated appliances, granite countertops.

MOUNTAIN VIEW Address: 501 Moorpark Way, Space 105 List price: $280,000 Bedrooms: 2 Bathrooms: 2 Interior: 1,040 sf Lot size: n/a Year built: 1997 Description: Adorable home located in a family park with low space rent. Bright cheery kitchen with white cabinets and appliances. Laminate flooring throughout. Inside laundry room with washer/dryer. Spacious backyard with a brick patio, great for a barbecue and entertaining. Exterior storage shed.

Under $2 million MOUNTAIN VIEW Address: 416 Palo Alto Ave. List price: $1,900,000 Bedrooms: 2 Bathrooms: 1 Interior: 1,104 sf Lot size: 5,764 sf Year built: 1922 Description: Located near library, dining, entertainment, Google and trains/light rail. Add personal touches and make this your perfect custom home.

EAST PALO ALTO Address: 1107 Gaillardia Way List price: $1,488,000 Bedrooms: 4 Bathrooms: 3.5 Interior: 1,910 sf Lot size: 5,400 sf Year built: 1951 Description: Construction just completed in July on this openconcept modern home. 100% new finishes, roof, electrical and plumbing systems. Great room with Euro-styled kitchen, anchored by an island with quartz waterfall edges, breakfast bar and secondary sink. New smart appliances, all controllable from your phone.

The Almanac | Palo Alto Weekly • Page 25

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.

THE ART AND SCIENCE OF REAL ESTATE

BrianChancellor.com

650.303.5511

1 3 2 D U G G A N C T, R E D W O O D C I T Y www.132DugganCt.com

Of fered at $3,788,000

Moder n Luxur y Retreat in Palomar Park

Suzanne Scott (650) 387-4333 suzanne@suzannescotthomes.com DRE #01386007

• Stunning 5 bedroom, 3.5 bath, modern retreat remodeled in 2016, with fabulous views! • One acre yard includes soccer play area, greenhouse and expansive decks. • Chef’s kitchen featuring Gaggenau appliances, surrounded by windows and light. • Lower level with separate access has full kitchen, one bedroom, one bath, gym and great room.

CALL SUZANNE FOR SHOWING AND OPEN HOUSE SCHEDULE The Almanac | Palo Alto Weekly • Page 27

2019 | FALL REAL ESTATE B ROWSING BY BUDGET

Under $3 million

Under $3 million

Under $5 million

MENLO PARK

PALO ALTO

Address: 511 Durham St. List price: $2,998,000 Bedrooms: 4 Bathrooms: 3 Interior: 2,200 sf Lot size: 6,580 sf Year built: 2018 Description: Brand new modern home. Bedroom number 4 has separate entrance and could serve as professional office. Gourmet kitchen with pristine cabinets, stainless steel appliances, quartz counters, waterfall island. Open floor plan with high ceilings and spacious family room, great for entertaining.

Address: 3121 South Court List price: $4,680,000 Bedrooms: 4 Bathrooms: 3.5 Interior: 2,820 sf Lot size: 10,800 sf Year built: 1952 Description: Enchanting English country ambience outside with chic luxury inside. Soughtafter Midtown neighborhood. Walls of windows overlook the extra-large rear gardens. Kitchen offers breakfast bar seating and an array of top-of-the-line appliances. Detached building, previously the garage, offers excellent potential for an Accessory Dwelling Unit. Numerous hightech features, professionally appointed interiors, and a lot size of almost one-quarter acre just minutes to Caltrain, shopping, and Stanford University.

LOS ALTOS HILLS

PORTOLA VALLEY

Address: 11460 Summit Wood Road List price: $2,998,000 Bedrooms: 3 Bathrooms: 3 Interior: 2,424 sf Lot size: 1.09 acres Year built: 1973 Description: Custom architecture with midcentury flair by renowned local architect Wendell Roscoe. Set back from the street with a with quarter-acre easement that affords significant privacy. Tremendous living room with bowed wall of floor-to-ceiling windows with canyon views. Master bedroom suite with beamed and paneled natural wood ceiling, oak tree views, and a full wall of sliding glass doors to the rear plaza. Steps on the rear grounds lead to a sitting area with glimpses out to the Bay.

Address: 195 Ramoso Road List price: $4,750,000 Bedrooms: 3 Bathrooms: 3 Interior: 3,950 sf Lot size: .2.77 acre Year built: 1961 Description: Located on 2.7 acres at the end of a cul-de-sac, this property features views from every side and offers complete privacy: It backs up to protected open space. The lot is a good opportunity.

PALO ALTO Address: 2019 Harvard St. List price: $2,349,888 Bedrooms: 3 Bathrooms: 3 Interior: 1,466 sf Lot size: 3,453 sf Year built: 1951 Description: Desirable College Terrace neighborhood. Downstairs has two master bedrooms, each with its own full bathroom. Spacious living room, kitchen and dining area. Upstairs has one bedroom with a balcony overlooking the backyard, full bathroom and two large closets, a small kitchen space with family room and dining area. Separate entrance great for parents, family members or to rent out.

PORTOLA VALLEY Address: 60 Valencia Court List price: $2,995,000 Bedrooms: 4 Bathrooms: 3.5 Interior: 2,600 sf Lot size: 2.11 acres Year built: 1959 Description: Open spaces and hiking trails surround this twoacre property, which offers an opportunity to build a new 5,000+ square foot home, according to the Town of Portola Valley. Dramatic views over the Arastradero Preserve to the coastal mountain range. Close to the Town Center’s tennis courts, playing fields, redwood grove and library.

Under $5 million MENLO PARK Address: 1330 University Drive, #82 List price: $4,250,000 Bedrooms: 3 Bathrooms: 2.5 Interior: 2,970 sf Lot size: n/a Year built: 1973 Description: This double unit in the Menlo Towers complex was extensively remodeled in 2018 with high-end finishes and a chef’s kitchen. The unit features a kitchen/family room with dining area, formal living room with a fireplace and in-unit laundry room with sink. All rooms have new double-glazed windows and doors with a tint (82% UV blockage for furniture) with motorized shades. Complex has front desk staff, a pool, BBQ area, exercise room and secure underground parking.

Page 28 • The Almanac | Palo Alto Weekly

The Almanac | Palo Alto Weekly • Page 29

1105 Rosefield Way, Menlo Park Ope

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3 BD / 3 BA 2690 Sq Ft living space per appraiser 9700 Sq Ft lot per Realist

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alk to town location, this beautifully updated home is a cook’s delight. An open floor plan from the gourmet kitchen that flows into the family room with window seat, eating area and sliding doors to the brick patio and yard. The home features formal living and dining rooms, expansive master suite, expanded bedrooms, mud room and two car garage.

W

Priced at $3,685,000 1105rosefield.com

161 & 153 Stone Pine Lane, Menlo Park 4 BD / 4BA 4300 Sq Ft living space per appraiser 4 car garage his stunning residence was created by combining two homes into one sophisticated city-style home. Walls of glass from the living room and library overlook the expansive patio with spa. This multi level home was remodeled in 2000 with a contemporary flair. Truly one-of-a-kind home featuring a walk to town location, close to shopping, transportation, elevator and excellent Menlo Park schools.

T

Priced at $4,200,000 161-153stonepine.com

675 Sharon Park Drive, Menlo Park ON

1BR / 1 BA 739 sq ft per Realist Priced at $725,000

SO ING

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Sue Crawford Coldwell Banker

650-566-5341

scrawford@cbnorcal.com CalBRE# 00587710

Page 30 • The Almanac | Palo Alto Weekly

Ope

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Erika Demma’s Recent Listings FOR SALE

FOR SALE

$5,495,000 205EleanorDrive.com FOR SALE

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Erika’s 2019 Year-to-Date Sales** 10 Pinto Way, WOODSIDE | $3,495,000 290 Family Farm Road, WOODSIDE | $7,000,000 305 Jane Drive, WOODSIDE | $5,595,000 330 Laning Drive, WOODSIDE* | $5,988,000 214 Raymundo Drive, WOODSIDE | $4,950,000 191 Miramontes Road, WOODSIDE* | $3,995,000 133 Marva Oaks Drive, WOODSIDE | $4,895,000 2083 Portola Road, WOODSIDE | $3,695,000 131 Alta Vista Road, WOODSIDE* | $2,500,000 12400 Skyline Boulevard, WOODSIDE | $3,495,000 136 Otis Avenue, WOODSIDE | $1,798,000 30 Fredrick Avenue, ATHERTON* | $6,249,000 198 Toyon Road, ATHERTON* | $5,850,000 183 Vista Verde Way, PORTOLA VALLEY | $3,595,000 2 Portola Green Circle, PORTOLA VALLEY* | $2,795,000 1284 Truman Street, REDWOOD CITY* | $1,675,000 1157 18th Avenue, REDWOOD CITY | $1,295,000 OVER $ 1 BILLION SOLD * Represented Buyer

|

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** List price shown

Compass is the brand name used for services provided by one or more of the Compass group of subsidiary companies. Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01079009. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but VBp bds JOOb yOoW OMà VBbUOp Wb loWKOÛ KdbMWsWdbÛ pB_O do zWsVMoBzB_ aB| JO made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate.

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R E A L E S TAT E S E R V I C E S

The Almanac | Palo Alto Weekly • Page 31

2019 | FALL REAL ESTATE B ROWSING BY BUDGET

Under $10 million

Under $10 million

Under $20 million

PALO ALTO

PALO ALTO

Address: 2001 Webster St. List price: $9,980,000 Bedrooms: 5 Bathrooms: 6 Interior: 5,042 sf Lot size: 8,755 sf Year built: 2004 Description: Prime Old Palo Alto location. Mediterranean home welcomes you through an artfully crafted wrought iron gate, and into an atrium of arches and Spanish tile. Brazilian cherry wood floors, crisp white millwork, graceful arches and towering ceilings. Areas for formal living plus a chef’s kitchen and family room combination. Sumptuous master suite with spa-inspired bath. Recreation room prewired for a home theater. Private rear grounds include flagstone patio, outdoor speakers, fire pit and lawn, plus a lap pool, hot tub and fountain.

Address: 1995 Waverley St. List price: $17,888,000 Bedrooms: 5 Bathrooms: 6 Interior: 6,265 sf Lot size: 0.45 acres Year built: 2008 Description: Ultra custom-built “California Tudor” with designer touches throughout. Sophisticated wiring and technology. Sevenzone radiant heat plus three-zone forced air heating and A/C. Detached garage and pool house are built in the same Tudor style. Huge, lush backyard with 50x16 Pool/Spa. High-end landscaping. Featured as part of the prestigious 2013 Gamble Garden Tour.

LOS ALTOS HILLS Address: 26991 Taaffe Road List price: $7,495,000 Bedrooms: 6 Bathrooms: 9 Interior: 7,538 sf Lot size: 1.21 acres Year built: 2017 Description: Gorgeous home with amazing bay views. Mediterranean masterpiece includes office, fitness center with spa bath, recreation room, theater, wine cellar and tasting room. Hardwood floors throughout, heated floors in some bathrooms. Beautifully landscaped with outdoor kitchen.

Under $20 million ATHERTON Address: 202 Atherton Ave. List price: $17,800,000 Bedrooms: 4 Bathrooms: 4.5 Interior: 5,650 sf Lot size: 2 acres Year built: 1949 Description: In the heart of Atherton, ideal for new construction. Gated entrances on Atherton Avenue and Selby Lane. Southwest exposure, rose gardens and perimeter trees. Glamorous two-story home includes private main-level guest quarters, grand formal rooms, library, breakfast room or office, elevator, and a caretaker’s apartment above the garage with outside entrance. Pool, pool house with half bath, vast lawn and a large brick entertaining terrace.

PORTOLA VALLEY Address: 447 Westridge Drive List price: $12,000,000 Bedrooms: 5 Bathrooms: 5.5 Interior: 6,968 sf Lot size: 4.69 acres Year built: 1996 Description: Main home boasts five en-suite bedrooms, a library, large media room, formal living and dining rooms and guest quarters. An additional two-story accessory structure houses a professional recording studio designed and built by renowned acoustical consultant Chips Davis Designs. Gorgeous landscaping and outdoor leisure areas. Pool and spa with a complete pool house (kitchen, laundry, bath, sleeping area) complement the property. Also a gardener’s dream with enclosed vegetable beds, raised cutting garden and a greenhouse. Page 32 • The Almanac | Palo Alto Weekly

MENLO PARK Address: 960 Lassen Drive List price: $5,495,000 Bedrooms: 3 Bathrooms: 3.5 Interior: 3,570 sf Lot size: 5,710 sf Year built: 1979 Description: Turn-key, custom developers’ home, is rare to turnover. Three en-suite bedrooms, private den, formal living and dining areas and a gourmet chef’s kitchen. Floor-to-ceiling windows open onto a generous private patio with gas fire pit and barbecue area overlooking the Bay. With an open floor plan, indoor/outdoor living spaces, this home is perfect for entertaining.

LOS ALTOS Address: 1530 Arbor Ave. List price: $6,649,000 Bedrooms: 6 Bathrooms: 6.5 Interior: 5,150 sf Lot size: 0.33 acres Year built: 2019 Description: Just completed and nestled in the desirable country club neighborhood. Stunning contemporary farmhouse with bedroom suites on every level. Upper level has three bedroom en-suites, family room, laundry room. The main level includes a great room with covered patio, breakfast nook, living room, dining room, butler’s pantry and mudroom. Lower level includes media/recreation room and wine cellar.

WOODSIDE Address: 370 Mountain Home Court List price: $13,988,000 Bedrooms: 4 Bathrooms: 5.5 Interior: 10,969 sf Lot size: 3.93 acres Year built: 1985 Description: Splendid estate on coveted street, walking distance to downtown Woodside. An entertainer’s dream, and includes a recreation room, gym, and guesthouse. Amenities include a pool, tennis court, exquisite landscaping with lush grounds, pergola, and walkways that meander along the creek through wisteriaentwined arbors. Close to Huddart Park, the Horse Park at Woodside, Highway 280, and extensive network of trails for equestrians, hikers and bikers.

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Atherton

1 Patricia Drive

www.1Patricia.com

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Atherton

69 Flood Circle

www.69Flood.com

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Gloria Darke

Caitlin Darke

650.388.8449 gloria.darke@compass.com License# 00570470

650.388.8449 caitlin@caitlindarke.com License# 01332161

Menlo Park Westside of Alameda Las Lomitas School District

Compass is the brand name used for services provided by one or more of the Compass group of subsidiary companies. Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01079009. All material presented herein is intended for inforaBsWdbB_ ltoldpOp db_| BbM Wp KdalW_OM Toda pdtoKOp MOOaOM oO_WBJ_O Jts VBp bds JOOb yOoWÂ OMĂ VBbUOp Wb loWKOĂ› KdbMWsWdbĂ› pB_O do zWsVMoBzB_ aB| JO aBMO zWsVdts bdsWKOĂ !d psBsOaObs Wp aBMO Bp sd BKKtoBK| dT Bb| MOpKoWlsWdbĂ __ aOBptoOaObsp BbM pntBoO TddsBUO BoO Bllod{WaBsOĂ

2019 | FALL REAL ESTATE

BY THE NUMBERS: PALO ALTO’S REAL ESTATE MARKET HOUSING COSTS

$2.8M $231,000

$1,564

$$$

$905

.2%

$

$97M

Palo Alto’s median home value U.S. median home value

$2.57M 12

Difference between Palo Alto and U.S. median home value Number of homes you can buy at U.S. median for the price of one Palo Alto home

Median list price per square foot

12.3%

Amount above median list price for Santa Clara County

10.2%

$1M

Homes with delinquent mortgages

$30M

Highest price tag for a market listing in past decade

Amount home values have declined over the past year Amount home values are forecast to drop over the coming year*

Difference between median home prices in 2009 and 2019

City’s most expensive home sale ever recorded

RENT COSTS

$6K

Median rent (includes homes & apartments)

8.6%

Amount of rent for a one-bedroom unit increased in past year

#3 MOST EXPENSIVE CITY TO RENT IN THE BAY AREA Sources: Zillow Research, August 2019/*May 2019; Zumper SF Bay Area Metro Report, September 2019; U.S. Best Places, September 2018

Page 34 • The Almanac | Palo Alto Weekly

The Almanac | Palo Alto Weekly • Page 35

2019 | FALL REAL ESTATE

Democracy needs journalism. Local journalism needs you.

M A R K E T WAT C H

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Mixed-use building under construction

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This three-story mixed-use development will have 16 apartments (with five units designated as below-market-rate) on the second and third floors, office space on the second floor and retail on the ground floor. Name of project: 425 Page Mill Road Address: 425 Page Mill Road (formerly 441 Page Mill Road)

Become a supporting member today. SIGN UP AT:

Project background: The project was met with mixed reactions when it was first proposed in 2014 due to the developer’s requests to build at a greater density and provide less parking than typically required by zoning regulations. The developer also sought two exceptions to the city’s design rules related to the building’s placement, including a bigger setback, which would create a wider sidewalk. In January 2015, the project was the first to go before Palo Alto’s new “slow-growth” majority City Council, who sent the project back for further revisions, including reducing the amount of office space and increasing the housing units. With updated plans that reflected those changes, the project was approved in June 2015 and is currently under construction.

www.paloaltoonline.com/join

Developer: Norman Schwab Cost: Not available

LAKE TAHOE AT ITS FINEST | NORTH SHORE & WEST SHORE WEST SHORE LAKEFRONT IN PRIME HOMEWOOD LOCATION

CARNELIAN BAY LAKEFRONT WITH BOATHOUSE & BUOYS

105’ of frontage adjacent to Madden Creek with level grounds and sprawling lawn to the water’s edge. Main home with 5 beds plus detached 2 bed guest home. Lakefront amenities include a shared, deep-water pier with one other home and 2 buoys.

Located right on “Flick Point” with more than 180º of panoramic lake views. Deep water, rock-cribbed pier & boathouse with large sundeck above and 2 buoys. South facing with approx. 200’ of lake frontage. 4 bed main home with detached guest home.

CARNELIAN BAY, CA | $9,500,000

HOMEWOOD, CA | $7,950,000

DOLLAR POINT LAKEFRONT

WEST SHORE LAKEFRONT WITH PRIVATE PIER & BUOY Exclusive and quiet setting on Powderhorn Lane. Modest ‘old Tahoe’ cabin plus detached bunkhouse. Deep lot with approx. 70’ frontage. Verified topo map available. TRPA and Placer docs related to future re-development of property on file.

First time on market, this 4-bedroom family home is original, yet features a timeless floorplan, 2 buoys, approx. 80’ of frontage and is located in one of Lake Tahoe’s most desirable neighborhoods. Level access to 2-car garage and spectacular views.

TAHOE CITY, CA | $4,995,000

OLIVER

TAHOMA, CA | $4,575,000

MARK MOORE Real Estate Broker Oliver Luxury Real Estate www.MooreTahoe.com Cell: 530.363.0090 530.536.0958 Email: Mark@MooreTahoe.com

BRE# 00690425, 02014452, 01995832

Page 36 • The Almanac | Palo Alto Weekly

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In Elyse, we found a gold mind! She is sharp and compassionate BbM pVO MOÂ bWsO_| ^bdzp her business. She was our cheerleader when we needed encouragement, our library when we needed information and our therapist during the transition. P.K. - Atherton

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Credentials Matter. But true success is always measured by the client.

650 743 0734 Elyse@ElyseBarca.com DRE 01006027

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The Almanac | Palo Alto Weekly • Page 37

Your Dream Home Awaits – 4 Fabulous Homes FOR SALE

Contemporary with Spectacular Views

Central Woodside Gem – Walk to Town

50 HAYFIELDS ROAD, PORTOLA VALLEY

103 TOYON COURT, WOODSIDE

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Offered at $3,875,000 | 103ToyonCourt.com

Artist’s Rendering

California Dream Home Minutes to Town

Spectacular Home Ready to Build

655 GLENCRAG WAY, WOODSIDE

327 HILLSIDE DRIVE, WOODSIDE

Offered at $3,995,000 | 655Glencrag.com

Offered at $1,550,000 | 327HillsideDrive.com

Thinking of selling your home? Let The Miller Team help you.

HELEN & BRAD MILLER Among Top Teams in SF Bay Area (per The Wall Street Journal rankings)

www.HelenAndBradHomes.com

650.400.3426 | 650.400.1317 helen.miller@compass.com brad.miller@compass.com License # 01142061 | License # 00917768

Compass is the brand name used for services provided by one or more of the Compass group of subsidiary companies. Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License !taJOo à __ aBsOoWB_ loOpObsOM VOoOWb Wp WbsObMOM Tdo WbTdoaBsWdbB_ ltoldpOp db_| BbM Wp KdalW_OM Toda pdtoKOp MOOaOM oO_WBJ_O Jts VBp bds JOOb yOoW OMà VBbUOp Wb loWKOÛ KdbMWsWdbÛ pB_O do zWsVMoBzB_ aB| JO aBMO zWsVdts bdsWKOà No statement is made as to accuracy of any description. All measurements and square footage are approximate.

www.309Manuella.com SPECTACULAR CENTRAL WOODSIDE SETTING WITH WESTERN HILL VIEWS Beautiful ~5.78 acre oasis / 4 bedroom, 5.5 bath main residence / 1 bed, 2 bath guest house Separate caretaker’s cottage / Fitness studio with full bath Pool, spa, tennis court, basketball court, golf practice area / Woodside schools

20 acres at the edge of Atherton

www.gullixson.com WOODSIDE: Endless possibilities on 20 acres at the edge of Atherton A very rare opportunity midway between San Francisco and Silicon Valley / A discrete gated entrance leads to a knoll-top where meadows and usable land overlook the Western hills, San Francisco Bay and East Bay hills / Just 2 miles to Sand Hill Rd. venture capital center

Exclusive to our clients, Compass Concierge fronts the cost of services to prepare your home for market, from staging to cosmetic improvements and more. No hidden fees, no interest charged - ever.

MARY GULLIXSON

BRENT GULLIXSON

650.888.0860 mary@gullixson.com

650.888.4898 brent@gullixson.com

DRE# 00373961

DRE# 01329216

gullixson.com

RANKED #25 TEAM NATIONALLY, PER THE WALL STREET JOURNAL, 2019 REPORT OF THE TOP RESIDENTIAL REAL ESTATE PROFESSIONALS (Published in June 2019).

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate.

Page 40 • The Almanac | Palo Alto Weekly

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