City Market Conditions
Average Sale Price
$8,000,000
$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0
Atherton
Los Altos
Los Altos Hills
Menlo Park
Mountain View
Palo Alto
Portola Valley
Redwood City
Sunnyvale
Woodside
1/2017 - 12/2017
Average sale price for single-family homes from 1/2018 to 12/2018,
1/2018 - 12/2018
compared to the period from 1/2017 to 12/2017.
Price/Square Foot Ratio $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $0
Atherton
Los Altos
Los Altos Hills
Menlo Park
Mountain View
Palo Alto
Portola Valley
Price per square foot ratio for single-family homes from 1/2018 to 12/2018, compared to the period from 1/2017 to 12/2017.
Redwood City
Sunnyvale
Woodside
1/2017 - 12/2017
1/2018 - 12/2018
Data gathered from the Multiple Listing Service on 02/04/2019
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Table of Contents 04. Fixing a Decedent’s Mistakes after Death —The Heggstad Petition
By Michael Repka, Esq.
05. Are Accessory Dwelling Units a Partial Solution to Silicon Valley’s Housing Crisis?
By Ken DeLeon, Esq.
06. Deductibility of State Taxes and Interest under New Tax Law
By Michael Repka, Esq. (LL.M. (Taxation) NYU School of Law)
09. What is An EB-5 Visa and How Does It Affect Silicon Valley Real Estate?
By Audrey Sun
10. The Chinese Trade War's Impact on Silicon Valley Real Estate
By Audrey Sun
12. The Hidden Dangers of “Off-MLS” or “Pocket” Listings THE
DELEON INSIGHT OU R OFFICES A RE LO CAT ED AT : 1717 Embarcadero Road, Palo Alto, CA 94303 650. 900.7000 www.DELEON REALT Y.co m
By Michael Repka, C.E.O. & General Counsel, DeLeon Realty
14. Central Menlo Park Spotlight
By Michelle Lee
16. High-Volume Listing Agents have a Competitive Advantage in Silicon Valley
By Michael Repka
18. Agents Leaving Conventional Brokerages
By Michael Repka
21. DeLeon Cruise to Mexico Founder — Ken DeLeon CEO & General Counsel — Michael Repka Copywriters — David Burckhard and Michelle Lee Chief Photographer — Anthony Halawa Chinese Marketing Specialist — Melanie Yu Online Marketing Specialist — Mike Ran Senior Graphic Designer — Nora Xu Graphic Designer — Monica Casorla Corporate Counsel — Colette Thomason CONTRIBUTORS: Ken DeLeon, Michael Repka, Michelle Lee, Colette Thomason, Audrey Sun, and Lawrence Chleboski
By Michael Repka
22 How the Real Estate Industry Responds to DeLeon's Innovation
By Colette R. Thomason, Esq.
26. The Importance of Marketing Hidden Features
By Michelle Lee
28. Global Real Estate Trends - Part One
By Ken DeLeon
Contact Ken DeLeon for exceptional buying opportunities at 650.543.8501
32. Designing with Accent Colors
To learn about our Platinum packages and incredible listing services for sellers, contact Michael Repka at 650.900.7000
35. Ask Michael: Copyright Infringement in Real Estate
By Michelle Lee and Lawrence Chleboski
By Michael Repka
D ELEONREA LT Y.COM
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R E A L E S T A T E L AW
FIXING A DECEDENT’S MISTAKES AFTER DEATH —THE HEGGSTAD PETITION By Michael Repka, Esq. It is well publicized that the DeLeon Team provides clients with access to real estate and tax attorneys as part of our standard listing agreement. To our knowledge, we are still the only major brokerage in Silicon Valley that provides access to this valuable service to all of our sellers at no additional charge. Virtually all of our sellers benefit from having their disclosures reviewed by an attorney, and while many appreciate our contract review and deal structuring, a few clients need even more than that. Sure, we handle the legal wrangling associated with buyers that breach their contract to purchase one of our seller’s homes. In fact, we recently resolved a dispute between our seller and a breaching buyer. Our sellers walked away with a check well into the six-figure range (and paid no legal fees) whereas the buyers, represented by an agent at another large brokerage, wrote two big checks—one to our sellers and, presumably, another big one to their lawyer. However, sometimes our clients need even more support, and we’re here to provide that. Recently, one of our sellers found herself in a very challenging situation. Her mother had established a trust, but passed away before formally transferring ownership of her home into the trust. Unfortunately, assets owned by a decedent in their own name, rather than in their trust, are generally subject to probate in California, which can be very expensive and time-consuming. It is an unfortunate fact of life, err, death, that the probate process often results in tens of thousands of dollars of extra expense and can last a year, or longer. Fortunately, California Probate Code section 850 provides a solution in some circumstances: a Heggstad Petition.
What is a Heggstad Petition? A Heggstad Petition is a formal process in which an attorney petitions the court to get a court order stating that an asset that was not formally transferred into the trust is nevertheless a trust asset. While there are other uses of a Heggstad Petition, this article will focus on situations in which a settlor failed to properly transfer an asset into a trust prior to their passing.
Advantages of a Trust In California, most financially sophisticated people understand the need for a revocable trust. Historically, these taxpayers knew that they needed to establish a revocable trust for three main reasons:
4 | D E LEO N RE A LT Y.CO M
1) To reduce the estate tax burden; 2) For intra-family planning; and 3) To avoid probate cost and delay Although the meteoric rise of the estate tax exemption (currently $11,400,000 per person) coupled with the 2010 introduction of “portability” has dramatically reduced the need for estate tax planning, intra-family issues, and the avoidance of probate costs continue to make revocable trusts useful, if not vital. Reasons Why Property May Not be in a Trust Unfortunately, many people engage an attorney to establish their trust, but never actually execute a deed to transfer the property into the trust. This can occur because they thought the attorney was going to do it for them, or because they simply forgot. Alternatively, sometimes there is a flaw in the instrument of transfer or some other reason why the transfer was unsuccessful. Another possibility is that the settlor (i.e., the person that originally established the trust) removed the assets from the trust for some reason, such as refinancing, and did not put it back into the trust before their death. Heggstad Petition Procedure An attorney begins the process by filing a verified petition, which lays out all of the relevant facts in detail and includes the names and addresses of any person entitled to the notice of the petition (i.e., beneficiaries). Additional information generally supplied includes: 1) The Trust document(s); 2) A declaration of Trust, if any; 3) The death certificate; 4) Information about the successor or acting trustee; 5) A description of the property; and 6) A detailed description of the relief or action sought The petition requires a 30-day notice to all interested parties. In light of this notice requirement, it normally takes around 60 days to complete a Heggstad Petition. The Result Once the court has reviewed and approved the petition, it enters a judgment stating that the assets in question are now in the trust. Once complete, the trustee can then sell the assets in the same way that they can sell any other trust assets. As a result of our legal expertise, the DeLeon Team was able to successfully get the family house transferred to the family trust. This allowed our client to avoid all of the time, expense, and aggravation associated with a probate sale.
R E A L E S TAT E TA X
While this is certainly unfortunate, we do not expect to see a dramatic decrease in demand because many buyers are already used to taking a significant “hair cut” on their interest deduction.
Therefore, these potential buyers will receive no tax benefit for the property tax they would pay on a new purchase. Thus, one of the most frequently cited advantages to homeownership has been eliminated by the TCJA.
STATE AND LOCAL TAX DEDUCTIBILITY For many taxpayers, a far more detrimental change enacted as part of the TCJA is the dramatic reduction of deductibility of state and local taxes, which includes both the California income tax and real property taxes.
Unfortunately, this will likely result in some level of decreased demand.
State Income Taxes Many California taxpayers find that their single biggest historical deduction has been for state and local taxes paid. As a result of Prop 30, which was enacted in 2012, California residents pay up to 13.3% state tax on income and capital gains. Historically, California taxpayers have received the benefit of a corresponding federal tax deduction for the state tax paid. Thus, this federal tax deduction resulted in an effective state tax rate of approximately 8.4% (net of federal tax benefit) for taxpayers not under the Alternative Minimum Tax (“AMT”). The TCJA reduced the total deductibility of state and local taxes to only $10,000 – a mere drop in the bucket for most Silicon Valley homeowners. We have already seen a negative impact related to this change in the form of homeowners thinking about selling their homes and moving out of state. Although some of these sellers, primarily those approaching retirement age, have already listed their homes and moved out of state, it is too soon to know whether a material portion of the other people with whom I have met will follow through with their plans. At DeLeon Realty, we do anticipate seeing at least some increase in inventory as a result of this tax change. We expect the increase will be more significant in the luxury market (homes priced from $5 million to $15 million). Property Taxes Unfortunately, the TCJA effectively eliminated the entire deduction of property tax for the vast majority of Silicon Valley homebuyers. Over the past year, I have heard countless people, including many real estate agents, say that buyers can still deduct the first $10,000 of property tax. However, this is almost always inaccurate.
THE GOOD NEWS — INVESTMENT PROPERTIES SHOULD NOT BE IMPACTED The United States Treasury Department allows for the deduction of expenses which are “ordinary and necessary” to the production of income. While there are certainly inherent ambiguities in this overarching rule, I.R.C. Section 163(d) and Rev. Rul. 9516 provide that non-corporate taxpayers, which includes individuals and individuals operating their real estate operations through a disregarded entity, such as a singlemember LLC, may deduct interest paid on investment debt to the extent of the taxpayer’s Net Investment Income. Therefore, these taxpayers should not be limited to the debt on the first $750,000 of their mortgage amount. This deduction is calculated on IRS Form 4952. To the extent that the taxpayer does not have sufficient Net Investment Income so as to utilize the entire deduction, it may be carried over to a succeeding tax year. Naturally, the debt needs to be directly tied and traceable to the investment, but that should not be a difficult standard to maintain. As a result of the interplay between the interest deductibility on a primary residence mortgage verses the uncapped deductibility of interest on investment properties, we expect to see investors leveraging their investment acquisitions to the greatest extent possible. Similarly, real estate property taxes on investment properties should remain fully deductible as an ordinary and necessary business expense. Overall, we expect to see an increase in inventory as a result of the new tax rules, coupled with a modest decrease in demand from homebuyers and an increase in demand from investors.
Given the extremely high cost of buying a home in Silicon Valley, most homebuyers have combined incomes well in excess of $100,000. As a result, they are already paying more than $10,000 worth of state taxes, which is not discretionary. D ELEONREALT Y.COM
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I N T E R NAT I O NA L
WHAT IS AN EB-5 VISA AND HOW DOES IT AFFECT SILICON VALLEY REAL ESTATE? By Audrey Sun Nowadays, it is hard to open a newspaper or turn on the television without receiving a crash course on geo-politics and immigration policy. Whether it be President Trump’s wall or the associated government shut down, immigrationrelated issues have received a lot of attention lately. Likewise, President Trump has voiced concerns related to the H-1B skill-based visa program, which could limit immigrants from coming into the country. Those immigrants are, by definition, highly-skilled workers, and a significant driving force of the Silicon Valley economy. (see: tinyurl.com/DRH1BVisa). Just as the purpose of the H-1B visa program is to boost the U.S. economy by attracting highly skilled workers, the EB-5 visa program goal is to attract foreign capital into the U.S. by allowing wealthy individuals to invest a certain amount of capital and, in return, gain residency in the U.S. On January 25, 2019, President Trump signed a law extending the EB-5 Immigrant Investor Program to February 15, 2019 with the same requirements. What is EB-5 Visa? The EB-5 visa program, also known as The Immigrant Investor Program, was created under the Immigration Act of 1990. This visa gives foreigners the chance to permanently work and live in the U.S., in return for investing and creating new businesses and jobs. All EB-5 investors must invest in a new commercial enterprise, which “means any for profit activity formed for the ongoing conduct of lawful business,” according to the U.S. Citizenship and Immigration Services (USCIS). Those businesses include a sole proprietorship, partnership (both limited and general), holding company, joint venture, corporation, business trust, or any other entity, which can be privately or publicly owned. Once an EB-5 visa is issued, investors will receive a conditional green card valid for two years. After that, investors can apply for the removal of that condition and be qualified for permanent residency through a green card. Our government currently caps the number of green cards under the program at 10,000 per fiscal year. To even out the ratio of incoming immigrants, the program also caps each country at no more than 7% of the total visas granted. What are the job creation requirements? Under the EB-5 visa requirements, investors must create at least 10 full-time jobs for qualified U.S. employees. An employee is defined as a person who will provide services or labor in exchange for payment from the employer.
Qualified U.S. employees include U.S. citizens, permanent residents, asylumees, and refugees. These jobs cannot be occupied by EB-5 investors or their relatives. These jobs must be created within two years of the investor obtaining the visa. What are the capital investment requirements? Foreign investors who would like to apply for EB-5 visas must make either a $500,000 or $1 million capital investment amount into a commercial enterprise. The specific amount varies based on location and other factors. The investment can be taken “in the form of cash, inventory, equipment, secured indebtedness, tangible property, or cash equivalent, and is valued based on the U.S. dollar fair-market value,” according to www.EB5investors.com. As a general rule, investors must invest at least $1 million into the U.S. unless the investment is made in a company that is located in a Targeted Employment Area (“TEA”), then the amount shall be $500,000. Targeted employment areas include areas such as rural areas that are not within metropolitan areas with low employment rate and also must not be on the border of a town or city with population of 20,000 people or more. Rural areas may also be defined as areas that have an unemployment rate of at least 150% of the national average. How does this visa effect Silicon Valley real estate? Every year, Michael Repka and I, along with a few other DeLeon Realty colleagues, attend the annual Luxury Property Showcase in Shanghai, China. During our last visit in December 2018, we encountered many questions from local Chinese investors related to EB-5 visas. Next to the H-1B visa, the EB-5 visa still remains the most popular visa amongst Chinese citizens. Since the economy and political environment is volatile in China, Chinese investors are looking to use their capital to invest in the U.S., which is particularly attractive when coupled with a desire to eventually move their family to Silicon Valley. Capital flows where the business environment is strong, as do entrepreneurs and workers. Building a new commercial enterprise will require commercial space for operations and workers will need housing. High net-worth investors particularly love Silicon Valley’s high-tech environment, and seek locations like the Bay Area where there is a larger pool of qualified and skilled workers.
D ELEONREALT Y.COM
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OLD-WORLD EUROPEAN CHARM IN PALO ALTO
LUXURY AND ELEGANCE IN WOODSIDE HILLS •
6 Bedroom
•
Stunning Bay Area views
•
7 Full bath, 1 Half bath
• Oversized
•
7,549 Sq. Ft. Home
•
Heated pool and jacuzzi
•
3.83 acres
•
Separate guesthouse
formal living room
•
5 Bedroom
•
Prestigious setting
•
5.5 Full bath
•
Top appliances
•
5,665 Sq. Ft. Home
•
Dedicated office and gym
•
11,570 Sq. Ft. Lot
•
Expansive lot
460 LAS PULGAS DRIVE, WOODSIDE Offered at $5,988,000
2281 BYRON STEET, PALO ALTO Offered at $7,998,000
For video tour and more photos, please visit: www.460LasPulgas.com
For video tour and more photos, please visit: www.2281ByronSt.com
PRISTINE EXCELLENCE IN OLD PALO ALTO
STUNNING NEW BUILD WITH SPECTACULAR VIEWS
•
5 Bedroom
•
Elegant four-story home
• 5 Bedroom
• Brand new home
•
5.5 Full bath
•
Extensive updates
• 5 Full bath, 1 Half bath
• Grand theater room
•
6,044 Sq. Ft. Home
•
Home theater
• 3,746 Sq. Ft. Home
• Stunning views
•
12,000 Sq. Ft. Lot
•
Prestigious location
• 7,623 Sq. Ft. Lot
• Prestigious Location
123 TENNYSON AVENUE, PALO ALTO Offered at $8,788,000
1710 MILLER AVENUE, LOS ALTOS Offered at $4,988,000
For video tour and more photos, please visit: www.123Tennyson.com
For video tour and more photos, please visit: www.1 710Miller.com D ELEONREALT Y.COM
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R E A L E S TAT E S E L L I N G S T R AT E G Y
ended” sale. Therefore, the seller needs to take the agent’s advice with a grain of salt. It is easy to imagine that a listing agent would prefer this route, as they might get commission (or a referral fee) from both sides of the transaction, while simultaneously saving nearly all marketing costs. Therefore, the listing agent may be tempted to encourage a seller to accept an offer, even though it is quite possible that there could be another buyer out there who would pay a higher price. Alternatively, the actual winning buyer may be willing to pay a higher price if they were faced with competition. LIMITED EXPOSURE The key to generating the highest possible sale price is making sure that the maximum number of qualified buyers are aware of the property and come see it. There are a number of ways to do this. The first is getting the home onto the radar screen of all potential buyers. At a minimum, this should include listing the property on the Multiple Listing Service (the “MLS”) with a link to its custom website featuring a fully narrated video, a 3-Dimensional tour, high-quality photography, and a comprehensive description of the home. Moreover, properly marketing a home in Silicon Valley requires far more than simply listing it on the MLS. Many buyers may be searching for a home of a certain type, but are not actively searching in your particular MLS area, or even your city, for that matter. That’s why comprehensive exposure also includes other media such as radio, television commercials, multiple newspaper ads in different cities, direct mail, and active promotion by the real estate agent. It is simply common sense that a home that is exposed to fewer qualified buyers will receive fewer offers, and those buyers that do put in offers will feel empowered to make lower offers due to the lack of competition. THE LEVEL OF PROPER PREPARATION Although it’s hard to understand why so many sellers are willing to sell their homes without adequate exposure, one possible explanation is their ability to forego the listing preparation process. Unfortunately, I have heard reports that some real estate agents proactively encourage sellers to allow them to show their own buyers the property without full exposure by instilling fear of staging, touch-up paint, cleaning, and many of the other steps that are involved in properly preparing a home. While the ease of this approach is certainly enticing, the lack of preparation is yet another reason why sellers should be reluctant to blindly travel down this road. Without question, homes look better once they’re properly prepared, staged, and marketed. Thus, when a limited number of buyers are seeing a home that has not been properly prepped, and they are comparing this home to other homes on the market that have been diligently prepared, buyers are inclined to offer lower prices. From the buyer’s point of view, this makes a lot of sense because he or she will probably get the home for
substantially less than a property that is properly prepared and marketed; but from the seller’s point of view, it can potentially result in leaving hundreds of thousands of dollars on the table. ENGAGING IN THE LISTING PROCESS While some agents are quick to ask for a period of exclusivity or encourage sellers to allow them to market the home as a “pocket listing” or “off-market listing,” sellers should see any of these suggestions as a red flag. If a seller is particularly interested in selling a home without maximum exposure, they should be working with a trusted professional that will advise them about the potential costs involved with such an approach. If the seller nevertheless wants to go forward after receiving the required advice, then that is completely their prerogative. However, sellers that encounter an agent who habitually encourages clients to restrict access to only their buyers (or buyers in their office) should consider other alternatives for a listing agent. The formula for achieving the highest possible price for a Silicon Valley listing is really quite simple— make sure the property is: (1) presented in the best possible light; (2) marketed very aggressively to the maximum number of potential buyers in a variety of different areas; (3) easy to access and well-presented throughout the duration of the listing period; and (4) represented by an agent who acts solely in the seller’s best interest, and that will not accept any commission or referral fees from any buyers on his or her listings. At DeLeon Realty, I encourage all of my sellers to follow these steps, and all DeLeon sellers know that the listing team is only representing them. As has been well publicized, DeLeon Realty takes the extreme measure of waiving all buyer-side commission in any transaction where a DeLeon buyer’s agent represents a buyer on any DeLeon listing. The greatest benefit of this approach is that both the buyer and seller confidently know that they are working with an agent who is completely loyal to them. This unique ethical model, enacted in April 2017, has saved our sellers over $5.7 million to date. AGENTS SEE THE IMPACT Ken DeLeon is the most active and well-known buyer’s agent in Silicon Valley. Yet, Ken has seen countless homes sell offmarket for a low price when he had a buyer that would have paid more. After I wrote an article similar to this a year or two ago, another one of the most active and well-respected agents in the area told me that he really liked the article. He commented that he has watched multiple homes sell for materially less than his clients would have paid. In fact, I suspect that the vast majority of active agents will attest to the same situation if asked. The only way to truly know that you are getting the highest possible price for your home is to market it as widely as possible. Doing so will attract more potential buyers and the competition will push the price higher. D ELEONREALT Y.COM
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COMMUNITY
CENTRAL MENLO PARK SPOTLIGHT By Michelle Lee Menlo Park is highly regarded as one of Silicon Valley’s most prestigious and remarkable cities, drawing in residents and visitors from around the country and around the world. From Facebook’s corporate campus to elite venture capital firms along Sand Hill Road, this great city has fueled the growth of some of today’s most successful businesses and spawned the leaders of the 21st century. However, Menlo Park’s desirability is far more reaching than its thriving corporate environment. On a day-to-day basis, residents love the wonderful community that strikes a perfect balance of location, weather, schools, parks, restaurants, and so much more. The neighborhood of Central Menlo combines some of these great amenities with exclusive and stunning mansions along wide and peaceful city streets. Residents here often share a closeness and affinity for this area, staying close to their roots and hosting frequent social functions and block parties. Although this neighborhood is mostly residential, it is situated only minutes away from prime city centers. A beautiful blend of mid-century modern homes, updated ranch homes, and newly-constructed mansions located on lots of around a quarter-acre comprise most of Central Menlo. More elite estates on larger lots of a half-acre or more can be found on the north side of the area along affluent Robert S Drive, San Mateo Drive and Bay Laurel Drive, which border and emulate the neighboring town of Atherton. In May 2018, the DeLeon Team sold a home here for over $10 million with multiple offers, and this area continues to be the most expensive neighborhood in all of Menlo Park. Currently, we have a listing on Bay Laurel Drive, which is one of the most stunning homes in this venerable part of Menlo
Central Menlo
Number of Homes Sold
Average Sales Price
Average Price per Sq. Ft.
45
$4,191,393
$1,648
Information gathered from the MLS from January 1st, 2018 through December 31st, 2018. The eastside boundary of Central Menlo borders vibrant downtown Santa Cruz Avenue, offering residents a unique opportunity to take advantage of all the amenities while living in a more peaceful and quiet setting only moments away. Fine dining at British Bankers Club, Kyosho, and Left Bank offer
14 | D E LEO N RE A LT Y.CO M
excellent venues for social gatherings, and share the area with charming cafes, unique shops and bookstores, art and fitness studios, and a central Caltrain station. Free summer concerts and other seasonal festivities are held at Camp Fremont Park, while nearby Nealon Park, Burgess Park, and Lyle Park offer multiple sports fields, dog runs, swimming pools, and more for fun and recreation. Nearby, Allied Arts Guild completes this area with a historic garden oasis, offering locals a break and creative outlet from busy suburban life. West Menlo and Sharon Heights await on the west side of the area, including local hot spot Dutch Goose, award-winning Mitsunobu at Sharon Heights Shopping Center, and Michelinstar Madera at the 5-star Rosewood Hotel. Nearly 10-acre Sharon Park, Stanford Hills Park, and the Stanford Dish Hiking Trail offer some of the most scenic views in all of Silicon Valley. Esteemed private equity and venture capital firms are also headquartered here, and both Woodside and Portola Valley are located just across I-280. Finally, San Francisquito Creek borders the south side of Central Menlo. One of the most overlooked features in this area is the bike path located at the south end of San Mateo Drive and walking trails along the creek that provide residents with scenic strolls and convenient access to Stanford Shopping Center and downtown Palo Alto. All of these attractions are situated no more than 2 miles away from Central Menlo. Beyond the excellent blend of amenities offered in and around this prime location, this area is also great for young families. Children can attend Oak Knoll Elementary, Hillview Middle, and Menlo-Atherton High which are all exceptional public schools. Parents may also choose both Menlo School and Sacred Heart Schools that offer wonderful private education programs. Overall, Central Menlo embodies the ambience of an exclusive community filled with innovative and remarkable people, centrality to top amenities, and a world of possibilities. With the prevalence of large lot sizes and new modern residences, this area continues to attract affluent buyers and builders with ever-increasing demand and prestige. A high quality of life mixed with great appreciation for space and privacy complete this incredible neighborhood in the very heart of Silicon Valley. Please contact Michael Repka to learn more information about current and upcoming listings, and gain more insider insight into this truly one-of-a-kind area.
March 2019
On top of all of this, Ken DeLeon (the only agent in Northern California to be ranked as the number one Realtor in the country, according to REAL Trends, Inc. as published in the Wall Street Journal) and I are known for publishing a plethora of articles every year on our website. These articles include neighborhood guides, market analyses, legal issues, and tax topics. These articles draw a lot of attention from buyers to our website and, consequently, my listings. Further, some buyers are attracted to the fact that we waive 100% of the buyer’s-side commission if they submit an offer through Ken or one of his teammates.
Resources Matter It is virtually undisputed that the DeLeon Team spends far more money on advertising our listings than any other real estate agent or team. However, we also find that every dollar we spend goes even further due to economies of scale.
This access to all of these frustrated Palo Alto buyers each year is invaluable to my clients because Palo Alto is generally the city with the highest price per square foot in all of California. This is not just true for Northern California, but also as compared to prices on a square foot basis in Beverly Hills and Newport Beach. For local purposes, Palo Alto at over $1,800 per square foot ($1,807 to be exact) is 13% higher than Atherton ($1,593), 20% higher than Los Altos ($1,503), 27% more than Mountain View, and 29% more than Menlo Park ($1,399) on a price per square foot basis. In fact, the Old Palo Alto neighborhood was recently ranked the most expensive neighborhood in all of California every year (at $2,200 per square foot last year).
We are also able to use our robust volume to create custom material that benefits our listings. For example, we commissioned a nationally respected film production company to shoot “B-roll” footage of the many attractions in and around Silicon Valley. This includes schools, parks, restaurants, transportation facilities, and many other features that enhance the value of our listings. As a result of this expensive and time-consuming endeavor, we can showcase unique neighborhood and town features of our listings, which draws attention to features that buyers may have missed.
Whenever I have a new property that comes on the market, I reach out to all of the agents with clients that were interested in similar properties, but lost out the last time around. I do this just before we hit the MLS so that we don’t have to deal with any offers in isolation. This strategic approach increases the amount of interest in my listings. Knowing the Pulse of the Market Another significant benefit afforded to high-volume listing agents is the ability to spot market trends. Almost all large local brokerages, except DeLeon Realty, utilize an independent contractor model. These individual agents share an affiliation with the brokerage and are permitted to use the brokerage’s name and branding when marketing themselves, but they are not employees of the brokerage and they do not share in each other’s success. This structure creates barriers when it comes to information.
We are the number one advertiser in a variety of different publications and media. As a result, we have been able to negotiate special pricing and placement for our ads. In other words, we invest more in marketing our listings and every dollar goes further.
What Should New Agents Do? Many new agents, as well as agents that lack proper financial resources, ask me what they should do to establish a successful career in real estate. My advice is always the same: start by working with buyers and focus on an area they know well. Buyers benefit immensely from agents that are willing and able to spend a great deal of time helping them find their perfect home. Therefore, less experienced agents can provide a level of service closer to that of an experienced agent when working with buyers. Listings, on the other hand, require far more connections, resources, information, and knowledge.
Because there may be 100 different agents affiliated with one brokerage, the information about potential buyers is often broken up in 100 different silos. DeLeon Realty is made up of just one team. We have no independent contractor agents, we do not license our name to any agents, and we have direct control over all of the people with whom we work. I personally handle all DeLeon Realty listings, which gives me the abovementioned direct and unfettered access to all of the buyers and the offers they submitted. Thus, I pick up on trends faster than an agent that only sells five or six listings per year. As a result, I can provide better and timelier advice to my clients. D ELEONREALT Y.COM
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March 2019
It should be noted that Compass approached Ken DeLeon with a generous offer to join their growing business a couple of years ago. However, Ken and I felt that our unique business model, strong reputation, innovative marketing, and growing market share made it more advantageous for us to continue forward independently.
The way people buy homes has changed — especially in Silicon Valley. A lot of DeLeon Realty’s remarkable success over the last seven years since we opened, can be attributed to our ability to create and offer clients what they want, rather than trying to convince clients they want what agents have done by habit for years.
The Parc Agency Another brokerage that has been successful in attracting agents, albeit at a smaller scale, is the Parc Agency. The Parc Agency is a new boutique brokerage located in the building formerly used by Keller Williams Realty before they closed down their Menlo Park office. This group is anchored by another former Alain Pinel agent, Keri Nicholas, who is Menlo Park’s number two (#2) agent or team (behind only the DeLeon Team) in terms of MLS sales in 2018.
With the exception of DeLeon Realty, which is structured entirely differently from traditional brokerages, almost all other major Silicon Valley brokerages (including Compass, Keller Williams, Alain Pinel, Coldwell Banker, and Intero), follow a very consistent model. Specifically, the agents or teams at traditional brokerages are generally independent contractors that are paid entirely on commission. Typically, the number of licensed agents greatly outweighs the paid professional staff and management—often at a ratio of more than 10 agents to every 1 support or managerial person. As a result, these agents tend to operate in silos with relatively little collaboration. While generally congenial, the individual agents and teams compete against one another, so they are usually careful about sharing information or ideas. Therefore, the strengths or weaknesses of the individual agent or team tend to be of paramount importance to the client experience.
The Impact of All of This Change While the transitory nature of the industry is interesting and makes for noteworthy watercooler talk, I do not expect it to have much bearing on the client’s experience. After all, clients are far more impacted by the strengths and skills of an individual agent or team than they are by the particular brokerage with which the agent is affiliated. Non-traditional companies, including DeLeon Realty, have brought a lot of fresh energy into the real estate industry and the overall impact to the client experience has been quite positive. As new companies and technologies emerge, we expect to see continued evolution. Ultimately, whichever company can best combine local expertise, personal attention, seamless technology, focused resources, expanded professional services, and the powerful marketing that can reach today’s buyers, will rise to the top.
Put another way, there are good agents at all of the different brokerages. The professional, well-respected agents that left Alain Pinel and other brokerages will continue to be professional, well-respected agents at Compass or wherever they land. Although, they may be driving a flashier car in light of the generous signing bonus.
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R E A L E S TAT E I N F LU E N C E
DELEON CRUISE TO MEXICO By Michael Repka There is no doubt that our amazing people are the reason why the DeLeon Team has enjoyed tremendous success over the past seven years since our formation. Our ability to identify, train, and nurture our skilled professionals has created an extraordinary work environment that fosters happiness, growth, and collaboration. To celebrate the amazing year we had in 2018 where we closed over $850 million in transactions (the highest in our history), we invited all of our full-time employees and their spouses on a week-long cruise to Mexico, which was our 5th company sponsored trip so far. The food, entertainment, weather, and activities were spectacular. We visited Cabo San Lucas, Mazatlán, and Puerto Vallarta – exploring these incredible cities rich with historical character and going on fun outings, including renting a catamaran along scenic Banderas Bay. However, the best thing about these week-long trips is the ability to get to know each other on a deeper level. Daily team dinners and valuable bonding time contributed to our enhanced and supportive work culture. We also appreciate the opportunity to thank everyone’s spouses for their neverending support of our hard-working people. DeLeon Realty is unique amongst all of the large local real estate brokerages in that we offer company-paid healthcare, retirement benefits, paid vacation time, in-house training, tuition reimbursement, and on-site meals to all agents and employees. The tremendous work environment is very rewarding and, I believe, leads directly to our clients’ positive experiences by fostering a passionate and dedicated team and culture.
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Offer Presentation Although it is in the buyer’s best interest, and the buyer’s agent’s best interest, for sellers to allow the buyer’s agent to present offers directly to sellers, it is opposed to the seller’s best interest in most situations.
looking for a strong team with the appropriate personnel to handle a variety of professional services, they may invite an agent who markets him or herself as such. However, it will not take long for the potential seller to realize that this agent is a sham and not what the agent’s marketing portrays.
When the DeLeon Team first started to publicize the fact that we discourage sellers from participating in live offer presentations (see: tinyurl.com/DRLiveOffers), I was still a real estate attorney at the national law firm Ropers, Majeski, Kohn & Bentley, headquartered in Redwood City. I recall speaking to one of my partners about how much we respected that decision. After joining DeLeon Realty as full-time legal counsel, I was surprised to learn that many agents—especially agents who represent a lot of buyers— initially got very upset.
Plagiarism Some agents take “imitation” way too far. Recently, one of our clients sent us a brochure from a competing agent. This Coldwell Banker agent in the Woodside office copied, word for word, important sections of our listing brochure. Additionally, she presented material portions of our business model as if they were her own, irrespective of the fact that they do not apply to her. While I think it is clear that she admires the way that the DeLeon Team does business, it is entirely inappropriate for her to plagiarize our material.
However, we are now finding that a far smaller percentage of listing agents subject their sellers to this un-level playing field. Or, at a minimum, we are hopeful that listing agents are advising their sellers of the potential disadvantages to this previously widespread approach. Marketing Material It is often said that “imitation is the best form of flattery.” When Michael Repka was working with our marketing team to develop the DeLeon Team’s listing materials, he decided to use multi-page, 9”x 9” square listing brochures for our homes because he thought this unusual shape and size would stand out in the local market. Almost all agents used 8.5” x 11“ brochures at that time. Over the past few years, Michael and Ken have noticed that many agents have been inspired by us and now use the same 9”x 9” brochures. You may have also noticed this. These types of decisions are quite flattering and entirely innocuous, but a little silly. However, there is other conduct that is deceitful and detrimental to clients, as well as to the majority of agents who are honest and hardworking. Fraudulent Promotion of Individual Agents as “Teams” Recently, a lot more agents are marketing themselves as a “team.” However, many of these “teams” are merely an individual agent, perhaps with an assistant or two. Similarly, some agents are pointing to brokerage rankings that amalgamate the sales of all of the individual agents or teams to give the illusion of a higher ranking or increased experience. They do this despite the fact that all of these agents are independent contractors, not employees of the company, and they are not involved in each other’s listings. Thus, these agents insinuate that they rank higher than the facts would support. This is ironic and somewhat self-defeating. Why would anyone market themselves as if they were something that they are not? Aside from the associated moral and ethical issues, this approach seems counterproductive. If a client is
In the interest of fairness, I have included a side-by-side comparison of two of the paragraphs in question so that readers can determine whether they agree with my opinion that the similarities are more than just coincidental. Ours, is one that Michael Repka wrote himself and the DeLeon Team has been using over five years. Hers was initially published well after we published our copyrighted materials. Each paragraph appears immediately within the front cover of the respective brochures. Notably, throughout her brochure, there are a number of references to unique services that we provide to our clients and she does not. DeLeon Realty: “Our Selling Philosophy” “The home-selling process can be complex and stressful if not managed properly. While each transaction is different, every homeowner wants the same thing – the best possible price with the least amount of hassle. At DeLeon Realty, Michael Repka heads a team committed exclusively to assisting homeowners through the home selling process and marketing the property to get the highest possible price in the shortest period of time.”
Coldwell Banker Agent: “Our Selling Philosophy” “The home-selling process can be complex and stressful if not managed properly. While each transaction is different, every homeowner wants the same thing – the best possible price with the least amount of hassle. We have a team dedicated exclusively to assisting homeowners through the home-selling process and to marketing the property to get the highest possible price in the shortest period of time.”
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R E A L E S TAT E M A R K E T I N G
THE IMPORTANCE OF MARKETING HIDDEN FEATURES By Michelle Lee When preparing marketing material for any home, whether
In October 2018, the DeLeon Team sold a remarkable home
it be brochure copy, newspaper ads, online promotional
in North Palo Alto that was outfitted with the fullest range
content, or video scripts, it is imperative to draw attention
of the most advanced home automation technologies,
to the unseen and offsite features of the property. In most
allowing residents to control nearly everything in the
mainstream content, descriptions are generally tailored and
home
limited to an inordinate number of paper-thin adjectives
appliances, thermostats, and more) directly from their
(i.e., this beautiful home with stunning amenities and
smartphone. Our in-house marketing team custom-tailored
well-appointed rooms) or extremely obvious facts that are
our material to revolve directly around this smart home
immediately apparent to any reader (i.e., living room with
theme, upgrading our graphics and video strategies, in
fireplace and French doors; granite countertops in the
order to target the right audience and make buyers hyper-
kitchen). However, the true quality and purpose of written
aware of these features before they even stepped foot in
marketing are words that reveal what is not visible in
the door. Working in unison, Michael and our marketing
photos or even during a walk-through of the home. These
team created one of the best home marketing videos
details hold extreme importance and significance to
ever used in Silicon Valley. (see: 777Seale.com/#DRVideo)
potential buyers.
This generated a huge buzz and interest in this ultra-
(including
WiFi-enabled
lights,
locks,
outlets,
high-tech home, which helped contribute to the high sale For example, many modern homes today include integrated
price of almost $1 million over asking at over $2,000 per
smart home functionality that add a world of convenience
square foot.
and security for homeowners. However, most of those functional applications are so seamless that potential
Other unseen and overlooked features worth calling out
buyers could easily miss them if they weren’t specifically
include radiant heating systems, steam showers, central
looking for them.
vacuum systems, built-in wiring and/or WiFi, solar panels,
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Above: a spread from DeLeon Platinum Brochure that showcases the special features of the home
I N T E R NAT I O NA L
GLOBAL REAL ESTATE TRENDS – PART ONE By Ken DeLeon
First you master the game, then you change it! For the first 10 years of my career, I practiced real estate under the traditional model and became the #1 ranked agent in the nation by REAL Trends Inc. as published in the Wall Street Journal. After that, I founded DeLeon Realty and with great insight and contributions from our CEO Michael Repka, we created an entirely new business model focused on the client rather than the agents. While our model is totally unique in America, some of our insights were inspired by international travel, and integrating some of the best components of other countries’ business models into our own. This three-part article explores the real estate industry as practiced in Russia and England. In subsequent articles I will delve into China, India, France, and Japan and then conclude each with what lessons Michael and I learned and incorporated into our own model to bring about what we feel is the best client experience provided by any real estate business model in the world. This Global Real Estate series will explore what the business model is in each country and if they have an MLS (most countries do not), what the commission rates typically are, what typical mortgage rates are in that country, whether a primary residence is exempt from capital gains, and finally, a market snapshot of that country’s real estate pricing.
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RUSSIA Overview of Russia Russia is a country in transition from a chaotic housing market with little organization to a country that is moving towards a multiple listing service (“MLS”). Michael and I were very impressed on our visit to St. Petersburg and Moscow, and we met with many of the nation’s top agents and consultants. We spent an entire day with an expatriate who is trying to bring a regional MLS to Moscow to replace the current system, which is presently fragmented and segmented by the top agents who dominate the market. While we envision a regional MLS coming to fruition soon as trends are heading that way, the lack of a buyer’s agent for most transactions and listing agents solely showing their personal inventory of listings will continue for the near future. Business Model & Commissions In 2002, the Russian real estate market was bifurcated into some sellers doing For Sale by Owner (FSBO) transactions and some working with agents who were charging 7.5% (all commission rates cited in this article are per WSJ). Now, the majority of sellers will use an agent and the sellers pay 3-5% commissions (generally 4%) to their listing agent. There usually is no buyer’s agent (except for expats who do not speak Russian) and, if there is one, the buyer pays directly for this service.
I N T E R NAT I O NA L
Mortgages The mortgage market is a relatively new invention in Russia, with mortgages becoming common only in the last 15 years. While the rate is much higher than in America, the principles of the Russian mortgage market are very similar to the U.S. in that most loans are for 80% of the sales price and new mortgage payments cannot exceed 35% of the borrower’s net income. Unlike the United States, no portion of the mortgage interest is deductible. This is particularly painful since the mortgage rate in Russia can be up to 10% higher than in prime European markets and generally ranges from 12% to 12.5%.1 Vladimir Putin is trying to lower this rate to spur the housing market, but market forces are currently preventing this.2 Due to high mortgage rates in Russia, most buyers purchase homes with all cash. Capital Gains on Primary Homes: Even though we think of housing as a piece of Americana and reflective of the American Dream, home ownership is indirectly subsidized by many nations with an exemption for capital gains being the most common tax benefit. Russia exempts ALL (note no limit of $500k per married couple as we have in the U.S.) capital gains taxes if you own your primary residence for five years or more. How Expensive: Moscow is arguably a world-class city with over 12 million residents, natural beauty (except during the frigid winter, Michael and I visited in summer), and stunning new skyscrapers. That being said, the drop in the exchange rate of the Ruble coupled with the drop in home values and rent has greatly lessened the expense of Moscow relative to
other international cities. In 2008, Moscow made headlines for being the most expensive city to live in the world.3 In 2018, Moscow had dropped to #17.4 Given this relative drop, you may be wondering if now is a good time to buy. As discussed in the market snapshot below, this decline does present an opportunity but also a risk as Moscow’s real estate prices are tied to the price of oil and other commodities, plus whether the Western embargo ever gets lifted. So there are a lot of non-real estate factors impacting real estate values in Russia. Market Snapshot: As you would anticipate, the last few years have been very volatile in the Moscow property market. Economic trade embargoes, Russia’s taking over Crimea, the Ruble losing 50% of its value relative to the dollar in the last five years, and high mortgage rates, have all negatively impacted real estate prices. Even excluding any currency fluctuations, the Russian market is down from 2015 in inflation-adjusted returns. Coming from this depressed vantage point, some analysts are bullish on Russian real estate as they anticipate that these relatively low prices will be buoyed in 2019 due to anticipated higher oil prices and a continuing economic recovery.
THE UNITED KINGDOM MLS Although the U.S. used the U.K. as a model for several things including our legal system (except for the Francophiles in Louisiana), there is very little similarity between the U.S. and U.K. real estate business models. For example, there is no exact equivalent of the MLS in the U.K. In 2016, a multi-listing platform called Agent Hub was launched that also incorporates a CRM (Customer Relationship Management) tool. There are numerous public websites where buyers can search for inventory. Among the popular ones is, Zoopla.com. However, these databases have not been embraced universally and no market is as transparent and open as those in the U.S. Overall, Zoopla.com is a bit more similar to the LoopNet structure used by commercial brokers in the US, rather than the MLS used by residential brokers, in that only a fraction of available listings are on the website. Business Model & Commissions Fees charged by traditional real estate agents in the U.K. are amongst the lowest in the world. Commission rates range from 1% to 1.5%, with 1.5% being the most prevalent rate.5 In the U.K. there are no buyers’ agents, and the listing brokerage coordinates and works with the buyers who purchase those company’s listings. Unlike the U.S. independent contractor model, real estate agents in the U.K. are paid a salary with small bonuses for sales and rental contracts (rentals are called Continued on next page
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I N T E R NAT I O NA L
Globel Real Estate Trends - Part One
lettings). The salaries are generally low and so are bonuses, so this is not as lucrative of a field as it is in the U.S. When you visit real estate agency websites, it’s all about the company. Rarely are individual agents marketed or branded. The business model is company-centric instead of agent-centric. By having the focus on the company and not on the individual agent providing services, more services can be provided by a wellfunded company to the benefit of the client. Some agencies offer their services for a fixed fee, and this practice is common with online real estate agents. Mortgage Rates Looking at HSBC’s public mortgage rates6 you can see that mortgages start with a low fixed rate for the first 2-5 years, after which they go up. The low rate starts at 1.5% - 2.5% (higher if your Loan-to-Value, (“LTV”), is higher), and after the initial fixed-rate period, increases to a variable rate of 4.2% - 5.25%.7 These are their published rates and, I am sure that like the U.S., lower rates can be found or negotiated. For owner-occupied properties, mortgage interest is tax-deductible on U.K. income taxes for both residents and non-residents. U.K. mortgages tend to be a bit more conservative than U.S. mortgages, with loans generally around 60%-70% of the purchase price (versus easily up to 80% in the U.S.) and you can only borrow up to 3-3.5x your annual gross salary. In the U.S., most banks allow you to borrow up to 4.5-5x your annual gross salary. Capital Gains on Primary Home Residents are exempt from paying any capital gains on their primary residence, which is defined as having lived there your entire time of ownership.8 For investment properties, the capital gains rate is generally 28%. Market Snapshot London is a world-class and very affluent city that is home to the highest number of millionaires (over 350,000) in the world.9 London, which once had the second most expensive real estate in the world after Hong Kong, has recently dropped in price. Prices peaked in July 2017 and average prices have been coming down since, caused mainly by the uncertainty attributable to Brexit and also due to inflation. Also, the pound dropped by 10-15% versus the dollar and Euro since Brexit, making London property much more reasonable to foreign investors. Overall, effective prices are down 25% when both the pricing and currency declines are factored in.10 That being said, London is still a very desirable location and is a haven for foreign investors looking to park their cash in a city that is still considered the financial center of the world and maintaining hegemony over New York and Singapore. There is an opportunity to get property
30 | D E LEO N RE A LT Y.CO M
in a renowned city full of culture, wealth and prestige, but those seeking certainty in London will wait for a new equilibrium to emerge post Brexit. Lessons Learned From these countries we integrated the following three concepts, (1) having buyers agents on salary, (2) having agents specifically focus solely upon buying or selling homes and not both, and (3) creating a “buy direct model” to allow clients to gain the expertise of a buyers’ agent, but not necessarily bear this expense. In the United Kingdom, having agents on salary seemed the best model for clients. I personally have always disliked aggressive sales people who are focused on the sale and not on the clients’ best interest. Much of the negative perception of real estate agents stems from their desire to quickly sell a home to clients instead of advising them. Instead, I have always strived to be a true fiduciary, similar to how I felt when advising clients at my old law firm of Wilson Sonsini. By putting all 45+ of our employees on salary, this allowed for better service for both buyers and sellers. By having our buyers’ agents on salary and their raises based upon our buyers’ feedback instead of just sales, our buyers’ agents act more as trusted fiduciaries providing consultative advice versus a proverbial used car salesman looking for any deal with no regard for the clients’ satisfaction. Also, by having agents on salary, I can assign them to focus on certain geographic areas and, by specializing, our agents have greater insight than other agents who sell in any area as they chase deals and dilute any expertise they may have.
I N T E R NAT I O NA L
On the listing side, Michael’s team of specialists allows our clients to have the most passionate and skilled people solely doing what they are best at. While most agents try to do everything and become a jack-of-all-trades, and master-ofnone, the DeLeon salary model allows for greater ethics and expertise for our clients. In all of these countries, where there is generally no buyers’ agent, the listing agent ends up working directly with both the buyer and the seller. We feel there is a definite benefit to each side having their own advocate and when speaking with agents overseas, they often seemed conflicted about whose side they were on. This conflict seemed to lessen the services for both their buyer and seller. This confirmed our belief that at DeLeon Realty, we never want one agent to be on both sides of any transaction and, instead, focus upon and be an expert at helping just buyers or just sellers, as they have different needs and questions that need to be catered to.
confidence to proceed with their purchase. With most of the world’s real estate markets not having a buyers’ agent, our “buy direct” solution provides the best of both worlds to our clients - fiduciary protection and intellectual guidance - but often at no direct cost to them. While this has come at a price to the firm, with over $5,700,000 in recent commission savings to our clients, this innovation and the knowledge that DeLeon Realty provides our clients with the best ethics and economics is one of the reasons our sales volume keeps rising exponentially. The articles in our upcoming newsletters will discuss the real estate business model in China, India, France, and Japan and what innovations we have brought over that make us feel that the client centric model that we have created is truly the best one for clients throughout the world (at least from the many countries Michael and I have traveled to and researched).
1
Finally, we saw that this conflict of representing both buyers and sellers is one of the fundamental flaws of real estate and a big source of contention in these countries. The only way to solve this conflict was not only to make sure each side was individually represented, but to take away all financial incentive for double-dealing that often occurs. Our “buy direct” model, where DeLeon Realty waives 100% of the commission if we represent the buyer on our own listings, is a unique solution to provide buyers with the insight and advocacy of a buyers’ agent without the greed and resulting malfeasance that can so often occur. I proudly focus solely on buyers and I strongly believe that a good buyers’ agent gives buyers expertise and resulting
www.expatica.com/ru/housing/buying/a-buyers-guide-to-russian-mortgages-758273/ (rates at 12%, not deductible, 80% loan to value for mortgages.) www.expatbriefing.com/country/russia/accomodation/mortgages-for-expats-in-russia.html (rates at 12.5%)
2
www.reuters.com/article/russia-putin-mortgages/putin-russia-must-get-mortgage-rates-downtowards-7-percent-idUSR4N1NN01N (Putin trying to get the mortgage rates lower)
3
www.forbes.com/2008/07/23/cities-expensive-world-forbeslife-cx_zg_0724expensivecities. html#31d73c86ee30 (Moscow #1 in 2008 by Forbes)
4
www.cnn.com/travel/article/most-expensive-cities-expats-2018/index.html (Moscow #17 in 2018)
5
graphics.wsj.com/table/commish_1016
6
www.hsbc.co.U.K./mortgages/our-rates/
7
www.expatica.com/U.K./housing/buying/your-guide-to-U.K.-mortgages-747470/
8
www.gov.U.K./tax-sell-home
9
London has the most millionaires in the world: www.worldatlas.com/articles/cities-boasting-themost-millionaires-around-the-globe.html
10
www.expatica.com/U.K./housing/buying/buying-a-house-in-the-U.K.-103191/
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DESIGNING WITH ACCENT COLORS By Michelle Lee and Lawrence Chleboski, DeLeon Design Coordinator As Silicon Valley’s #1 real estate team, DeLeon Realty is fortunate to work on hundreds of homes every year and gain exposure to a wide range of architectural and design styles. Having taken great measures to expand our design services by attending annual international furniture shows, purchasing 10 homes worth of staging furniture and 16 homes worth of high-end outdoor furniture last summer, and entering into an exclusive arrangement with industry-leading Da Lusso Design, we have ensured sufficient inventory to keep up with our high listing volume. In doing so, this has also given us the freedom and flexibility to explore new design trends and ideas.
For example, at our listing on Laurel Avenue in Menlo Park, the sellers had an extra set of exterior house numbers in a fun banana-green color. Our design coordinator Jessee Bayze ran with this inspiration by painting the front door and mailbox the same color. Inside, we continued this theme through subtle green chairs, houseplants, and dinner napkins. Similarly, in one of our recent listings in North Palo Alto pictured below, our designers pulled inspiration from the high-gloss yellow kitchen cabinets and continued the accent color through a decorative tea kettle, a bowl of lemons, spunky throw pillows, and a wall painting in the adjoining great room.
Some agents that rely upon the design skills of outside stagers, rather than employ their own dedicated interior designers, tend to paint everything a neutral color and use the same style furniture for all homes. This approach creates a blank canvas that will work with whatever inventory the stager has available. Although this is often a good formula, it can neutralize the inherent style and character of a home. The more unique or special the home, the more likely that this is a poor choice. It is common sense to stage a home consistent with its style, whether it be sleek and cutting-edge contemporary designs as is popular among new builds today, modern farmhouse, rustic, or traditional stylings. Our resources allow us to cater the décor and accessories we use to the appropriate styles. However, here at DeLeon Realty, we love to interject a fun splash of color and uniqueness to the home to bring it to life and give it character. “We like to create impact. Our goal is to take ordinary and make it extraordinary. We want buyers to come into the home and be wowed! That’s when excitement is stirred in the buyers wanting to see more of what the home they are touring has to offer,” says Angela Samarron, our inhouse staging manager. When planning a home, our designers lay out a roadmap that starts with the strategic improvements that will push the price up, then determine the appropriate color scheme and the type of furniture, art, and accessories that will showcase the home in its best light. While we generally keep to mostly a neutral, monochromatic color scheme with occasional off-white tones and soft hues, we customize this approach when appropriate. Occasionally, we will mix things up a bit by “taking elements of the home, whether it be from exterior front door colors or an accent wall,” commented our staging designer Gina Moore, “and use it as a jumping off point for our design inspiration. Incorporating them into the color scheme through pillows and artwork connecting everything all together.”
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With an eye toward design developments, Gina also spoke to how fashion and interior design trends typically go handin-hand and that “right now, we’re seeing a lot of popularity in emerald green and yellows. Fashion is generally one step ahead of interior design, so we’re able to pull inspiration from there.” These fresh splashes of color help break up standard, monotone layouts and designs, by interjecting character and life in a stylish manner to our homes. “The point of an accent color, wall, or door is to give that room or house that ‘wow’ factor and make it stand out and make it memorable. After seeing a bunch of houses with the same gray color walls, although nice, the buyers will remember that one house with the cool accent wall or that awesome bright-colored door,” says another one of our designers, Liliana Diaz. Our innovative design approaches are thoughtfully chosen to integrate seamlessly and not distract from the rest of the home, but to carefully accent and play up key features. At DeLeon Realty, we invest in our listings and services by staying up-to-date with modern design trends and showcasing our homes in the best light possible.
®
The DeLeon Team is dominant in Silicon Valley for a reason Total Sales Volume of the DeLeon Team in 2018 in the following cities*
#1 in Palo Alto #1 in Menlo Park #1 in Portola Valley #1 in Los Altos Hills #4 in Los Altos #2 in Atherton #2 in Mountain View Save More with Our 3% Model When Michael Repka, the DeLeon’s Team’s listing agent, receives an offer from a DeLeon buyer agent, or any buyer not represented by an agent, DeLeon Realty will waive all of the buyer’s side commission if the offer is accepted. Our sellers have saved over $5.7 million since this program started in April 2017. To learn more about our 3% model, please contact us.
Selling your Silicon Valley home? Please contact Michael Repka of the DeLeon Team
65 0 .9 0 0 .70 0 0 | michael@deleonrealty.com | www.deleonrealty.com | DRE #01903224
*DeLeon Team’s relative rankings to all other real estate agents and teams in Silicon Valley. Using MLS data from January 1, 2018 to December 31, 2018. Residential Property: (Single Family Home, Condominium, Townhouse, Manufactured Home, Floating Home, Duet Home, Multiple on Lot, Farm/Ranch, Other Residential, Double Wide Mobile Home, Duplex)
R E A L E S TAT E M A R K E T P U L S E
ATHERTON Atherton Median Sales Price & Price/Sq. Ft. Ratio
Atherton Inventory # of New Listings $2,500
$10,000,000
$2,000 $1,500
$6,000,000
$1,000
$4,000,000
$500
Sale Price, Median
Ju l-1 8 A ug -1 8 Se p18 O ct -1 8 N ov -1 8 D ec -1 8
$0
Fe b18 M ar -1 8 A pr -1 8 M ay -1 8 Ju n18
Jan-19
Dec-18
Nov-18
Oct-18
Sep-18
Aug-18
Jul-18
Jun-18
May-18
Apr-18
Mar-18
$0
Feb-18
$2,000,000
Ja
$8,000,000
16 14 12 10 8 6 4 2 0 n19
$12,000,000
Price/SqFt Ratio
LOS ALTOS
Sale Price, Median
Los Altos Inventory # of New Listings $1,650 $1,600 $1,550 $1,500 $1,450 $1,400 $1,350 $1,300 $1,250
50 40 30 20 10 0 Fe b18 M ar -1 8 A pr -1 8 M ay -1 8 Ju n18 Ju l-1 8 A ug -1 8 Se p18 O ct -1 8 N ov -1 8 D ec -1 8 Ja n19
Jan-19
Dec-18
Nov-18
Oct-18
Sep-18
Aug-18
Jul-18
Jun-18
May-18
Apr-18
Mar-18
$4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0
Feb-18
Los Altos Median Sales Price & Price/Sq. Ft. Ratio
Price/SqFt Ratio
LOS ALTOS HILLS Los Altos Hills Median Sales Price & Price/Sq. Ft. Ratio
Sale Price, Median
Price/SqFt Ratio
36 | D E LEO N RE A LT Y.CO M
16 14 12 10 8 6 4 2 0
O ct -1 8 N ov -1 8 D ec -1 8 Ja n19
Jan-19
Dec-18
Nov-18
Oct-18
Sep-18
Aug-18
Jul-18
Jun-18
May-18
Apr-18
Mar-18
$2,000,000 $1,000,000 $0
Feb-18
$5,000,000 $4,000,000 $3,000,000
$1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $0
Fe b18 M ar -1 8 A pr -1 8 M ay -1 8 Ju n18 Ju l-1 8 A ug -1 8 Se p18
$7,000,000 $6,000,000
Los Altos Hills Inventory # of New Listings
R E A L E S TAT E M A R K E T P U L S E
MENLO PARK Menlo Park Median Sales Price & Price/Sq. Ft. Ratio
Menlo Park Inventory # of New Listings
$3,500,000
$2,000
$3,000,000
$1,500
$2,500,000 $2,000,000
$1,000
$1,500,000 $1,000,000
$500
Sale Price, Median
$0
Fe b18 M ar -1 8 A pr -1 8 M ay -1 8 Ju n18 Ju l-1 8 A ug -1 8 Se p18 O ct -1 8 N ov -1 8 D ec -1 8 Ja n19
Jan-19
Dec-18
Nov-18
Oct-18
Sep-18
Aug-18
Jul-18
Jun-18
May-18
Apr-18
Mar-18
$0
Feb-18
$500,000
70 60 50 40 30 20 10 0
Price/SqFt Ratio
MOUNTAIN VIEW Mountain View Median Sales Price & Price/Sq. Ft. Ratio
Mountain View Inventory # of New Listings
$2,500,000 $2,000,000 $1,500,000 $1,000,000
Sale Price, Median
Jan-19
Dec-18
Nov-18
Oct-18
Sep-18
Aug-18
Jul-18
Jun-18
May-18
Apr-18
Mar-18
$0
Feb-18
$500,000
$2,000
40
$1,500
30
$1,000
20
$500
10
$0
0 Fe b18 M ar -1 8 A pr -1 8 M ay -1 8 Ju n18 Ju l-1 8 A ug -1 8 Se p18 O ct -1 8 N ov -1 8 D ec -1 8 Ja n19
$3,000,000
Price/SqFt Ratio
PALO ALTO Palo Alto Median Sales Price & Price/Sq. Ft. Ratio
Palo Alto Inventory # of New Listings
Sale Price, Median
$0
60 50 40 30 20 10 0 Fe b18 M ar -1 8 A pr -1 8 M ay -1 8 Ju n18 Ju l-1 8 A ug -1 8 Se p18 O ct -1 8 N ov -1 8 D ec -1 8 Ja n19
Jan-19
Dec-18
Nov-18
$0
Oct-18
$500 Sep-18
$1,000,000 Aug-18
$1,000
Jul-18
$1,500
$2,000,000
Jun-18
$3,000,000
May-18
$2,000
Apr-18
$4,000,000
Mar-18
$2,500
Feb-18
$5,000,000
Price/SqFt Ratio
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R E A L E S TAT E M A R K E T P U L S E
PORTOLA VALLEY Portola Valley Median Sales Price & Price/Sq. Ft. Ratio
Portola Valley Inventory # of New Listings $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $0
$4,000,000 $3,000,000 $2,000,000 $1,000,000
Fe b1 M 8 ar -1 A 8 pr -1 M 8 ay -1 Ju 8 n18 Ju l-1 8 A ug -1 Se 8 p1 O 8 ct -1 N 8 ov -1 D 8 ec -1 Ja 8 n19
$0
Sale Price, Median
20 15 10 5 0 Fe b18 M ar -1 8 Ap r-1 8 M ay -1 8 Ju n18 Ju l-1 8 Au g18 Se p18 O ct -1 8 N ov -1 8 De c18 Ja n19
$5,000,000
Price/SqFt Ratio
REDWOOD CITY Redwood City Median Sales Price & Price/Sq. Ft. Ratio
Redwood City Inventory # of New Listings $1,200 $1,000
$1,500,000
$800
$1,000,000
$600 $400
$500,000
Sale Price, Median
Jan-19
Dec-18
Nov-18
Oct-18
Sep-18
Aug-18
Jul-18
Jun-18
May-18
Apr-18
Mar-18
Feb-18
$0
$200 $0
100 80 60 40 20 0 Fe b18 M ar -1 8 Ap r-1 8 M ay -1 8 Ju n18 Ju l-1 8 Au g18 Se p18 O ct -1 8 N ov -1 8 De c18 Ja n19
$2,000,000
Price/SqFt Ratio
Now that the market is shifting, strong marketing and presentation skills are more important than ever.
List with Michael Repka and the DeLeon Team We provide more marketing for each of our listings than any other brokerage in Silicon Valley, including 12 to 32-page home brochures, narrated videos, 3D tours and floor plans, TV commercials, radio ads, direct mail, Chinese and Indian newspaper ads and paid online ads. No one else even comes close.
38 | D E LEO N RE A LT Y.CO M
R E A L E S TAT E M A R K E T P U L S E
SUNNYVALE Sunnyvale Median Sales Price & Price/Sq. Ft. Ratio
Sunnyvale Inventory # of New Listings
$2,000,000 $1,500,000 $1,000,000
Sale Price, Median
Jan-19
Dec-18
Nov-18
Oct-18
Sep-18
Aug-18
Jul-18
Jun-18
May-18
Apr-18
Mar-18
$0
Feb-18
$500,000
$1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $0
100 80 60 40 20 0 Fe b18 M ar -1 8 A pr -1 8 M ay -1 8 Ju n18 Ju l-1 8 A ug -1 8 Se p18 O ct -1 8 N ov -1 8 D ec -1 8 Ja n19
$2,500,000
Price/SqFt Ratio
WOODSIDE Woodside Median Sales Price & Price/Sq. Ft. Ratio
Woodside Inventory # of New Listings
$10,000,000
$2,000
$8,000,000
20
$1,500
15
$1,000
10
$4,000,000
Sale Price, Median
Jan-19
Dec-18
Nov-18
Oct-18
Sep-18
Aug-18
Jul-18
Jun-18
May-18
Apr-18
Mar-18
$0
Feb-18
$2,000,000
$500
5
$0
0 Fe b18 M ar -1 8 Ap r-1 8 M ay -1 8 Ju n18 Ju l-1 8 Au g18 Se p18 O ct -1 8 N ov -1 8 De c18 Ja n19
$6,000,000
Price/SqFt Ratio
Save more with our 3% Modell
Video & TV Commercials
Online Marketing
Property Brochures
Meet with Michael to understand how our innovative business model makes it possible for us to do so much for our clients.
Our sellers have saved over $5.7 million since this program started in April 2017. To learn more about our 3% Model, please contact us.
D ELEONREALT Y.COM
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THE DELEON INSIGHT
ATHERTON
LOS ALTOS
Paint Like Picasso
Los Altos First Friday
Jump into the mind of an influential artist with the "Paint
Los Altos First Fridays are community-building events held
Like" program. This month you'll paint in the style of Picasso.
during the evenings of the first Friday of the month in
Canvas, palette, and paints are all provided by the instructor.
Downtown Los Altos. First Fridays are meant to be a fun,
This class is ideal for all skill levels. Ages 12+. Registration
social evening for residents of Los Altos, Los Altos Hills, and
required. Please call the Atherton Library to register
neighboring communities. It is a great opportunity to shop,
TIME: 2:00 PM – 3:30 PM WHERE: 2 Dinkelspiel Station Lane, Atherton
dine, and explore what Downtown has to offer.
Sunday, March 24, 2019
LOS ALTOS HILLS 8th Annual Leadership Conference Sunday, March 3, 2019
The Los Altos Hills Youth Commission is hosting its 8th annual Leadership Conference for Middle School and High School students. This conference will focus on making a difference by getting involved in leadership, entrepreneurship and giving back to your community. If you are interested, walk-ins
Friday, March 1, 2019
TIME: 6:00 PM – 8:00 PM WHERE: Downtown Los Altos
Los Altos PREPARES Inspiration Session Thursday, March 14, 2019
Join the emergency preparedness volunteers of the City of Los Altos for the quarterly Inspiration Session! You'll enjoy a presentation from PG&E and some tips and updates from Los Altos PREPARES.
TIME: 6:30 PM – 8:30 PM WHERE: Hillview Community Center, 97 Hillview Avenue, Los Altos
are welcome, but RSVP is preferred. Please send RSVPs to
MENLO PARK
lahyouthcommission@gmail.com.
TIME: 10:00 AM – 1:00 PM WHERE: Town Hall, Council Chambers, 26379 W Fremont Road, Los Altos Hills
Summer Camp Fair Friday, March 1, 2019
Learn about summer camp offerings at the annual Summer
Monthly Senior Walk Tuesday, March 5, 2019
Camp Fair. Free pizza, games, and crafts will be available for attendees. Register your child for a City-run camp at the event
The event is held on the first Tuesday of every month. All hikes
and receive 10% off! Enter our raffle at the event for your
will be roughly 2 miles in length. For the Winter, you will be
chance to win a free week of camp! Teens and young adults
sticking to the paved roads and pathways around Town Hall.
will have the opportunity to submit applications for summer
All ages welcome along with four-legged friends. Routes will
positions and meet & greet with potential employers.
be tailored to the needs of the participants in attendance. Inclement weather may cancel the hike.
TIME: 10:00 AM – 11:00 AM WHERE: Town Hall, 26379 W Fremont Road, Los Altos Hills
TIME: 6:00 PM – 7:30 PM WHERE: Arrillaga Family Recreation Center, 700 Alma St., Menlo Park
Burgess Park Egg Hunt Saturday, April 20, 2019
Each year the Bunny visits the Burgess Park with toys and candy-filled eggs for girls and boys ages 8 and under. The Burgess Egg Hunt festivities start with bounce houses, crafts, and pictures with the Bunny. Be sure not to miss photos
40 | D E LEO N RE A LT Y.CO M
March 2019
opportunities with the fire trucks and maybe take a ride
MOUNTAIN VIEW
on "Old Tom", an antique fire engine. Activities are cosponsored by the Menlo Park Firefighters Association and Menlo Park Fire District.
TIME: 10:00 AM to Noon WHERE: Burgess Park, 701 Laurel St. Menlo Park
Trio Continental Concert Saturday, March 02, 2019
Join Dawn Walker (flute), Aileen Chanco (piano) and Elizabeth Prior (viola) for a delightful evening of music and conversation celebrating Women's History Month,
Kelly Park Egg Hunt
featuring works of famous women composers including
Since 2009, the Egg Hunt at Kelly Park has delighted the
Chaminade, Amy Beach and more.
Saturday, April 20, 2019
Fanny Mendelssohn, Clara Schumann, Lili Boulanger, Cecil
and photo opportunities with the Bunny! Bring the family
TIME: 7:30 PM – 8:30 PM WHERE: Community School of Music and Arts - Tateuchi
and enjoy a fun-filled morning as the kids scramble for plastic
Hall, 230 San Antonio Circle, Mountain View
residents with crafts, a jelly bean guess, magic show, music,
eggs filled with goodies. Activities are co-sponsored by Fire Station 77 and the Menlo Park Fire District. The Kelly Park Egg Hunt is coordinated by the staff of the Onetta Harris Community Center
TIME: 10:00 AM to Noon WHERE: Kelly Park, 100 Terminal Ave. Menlo Park
Open Mic @ Red Rock Coffee Monday, March 04, 2019
Open Mic happens at Red Rock every Monday night! Try out your newest song for a supportive audience, meet fellow musicians and performers, or just come to enjoy the show! Sign-ups start at 6:30 pm, but arrive early to secure your spot. The show starts at 7:00. Each performer, whether
REDWOOD CITY Paws for Tales
Saturday, March 2, 2019 Children can improve their reading skills and make a new friend by reading aloud to a therapy dog! Pet Assisted Therapy teams and their handlers will be present from
you're a musician, poet, comedian, illusionist, or juggler, gets ten minutes or two songs, whichever is less. Please keep it family-friendly.
TIME: 7:00 PM – 9:30 PM WHERE: Red Rock Coffee, 201 Castro St, Mountain View
Adult Craft Night
the Peninsula Humane Society and the SPCA’s Paws for
Wednesday, March 27, 2019
Tales program.
Adult Craft Night is a space for grown-ups to relax, learn,
TIME: 11:00 AM – 11:30 AM WHERE: Redwood Shores Library, 399 Marine Parkway,
and create. Ages 18 and older only. Learn a different craft
Redwood City
provided. Registration is required.
Pajama Time Stories
Room)
Tuesday, March 5, 2019
every month. Beginners are welcome, and all supplies are
TIME: 7:00 PM – 8:30 PM WHERE: Mountain View Public Library (2nd Floor Program
Pajama Story Time for all ages.
TIME: 6:30 PM – 7:00 PM WHERE: Redwood Shores Library, 399 Marine Parkway, Redwood City
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THE DELEON INSIGHT
PALO ALTO Make your own movie! Saturday, March 02, 2019
Zoom In is a 15-hour intensive video workshop that covers everything you need to create a digital video, from shooting to editing to uploading. By the end of this class, you will have
STANFORD Painting Nature in the American Gilded Age
All Mondays and Wednesdays through Sundays from August 2018 through August 2019 Drawing from the Cantor’s permanent collection, this exhibition
produced a short video which Midpen will host on its YouTube
considers how nature was depicted by American artists from the
channel and run on their TV channels. Class includes all software,
1880s to 1910. An era of unprecedented industrialization and
equipment plus a booklet. Additional time will be required to
urban development.
schedule a field shoot.
TIME: 11:00 AM – 5:00 PM WHERE: Cantor Arts Center, 328 Lomita Drive at Museum Way,
PRICE: $180.00 to $200.00 —Early Bird sign up gets a discount. TIME: 10:00 AM – 5:00 PM WHERE: Midpen Media Center, 900 San Antonio Rd, Palo Alto
TheatreWorks Silicon Valley Presents "Marie and Rosetta" Wednesday, March 06, 2019
Stanford
Josiah McElheny: Island Universe
All Mondays and Wednesdays through Sundays from February 2018 through July 2019 Bringing artist Josiah McElheny’s Island Universe to the Cantor
TheatreWorks Silicon Valley presents the West Coast premiere
is a rare opportunity to examine both cutting-edge art and
of the roof-raising musical play Marie and Rosetta. A favorite at
physics. The monumental installation of five hanging chandeliers
TheatreWorks’ 2015 New Works Festival by Lucille Lortel Award-
is a visual response to recent theories of the multiverse, an
winner George Brant, Marie and Rosetta shares the saga of a
elaboration of the Big Bang theory. The installation is both
musical legend.
visually stunning and carefully constructed according to
PRICE: $40.00 to $100.00 —Educator, senior, active military &
measurements that map the history of time.
TIME: 8:00 PM – 10:00 PM
TIME: 11:00 AM – 5:00 PM WHERE: Cantor Arts Center, 328 Lomita Drive at Museum Way,
WHERE: Lucie Stern Theatre, 1305 Middlefield Rd, Palo Alto
Stanford
Palo Alto Senior Table Tennis
Our Dark Materials: Rediscovering an Egyptian Collection
under 35 discounts availble
Every Tuesdays, 2019
am to 2 pm at Cubberley Community Center Gym B. This free
Ongoing every weekday (M-F) from June 4, 2018, through May 16, 2019.
event is good for Seniors 55 and older. Suggested $1 donation.
The archaeology exhibit presents new examination of a
Please bring your own racket, tennis shoes, and a snack.
forgotten collection. Artifacts from ancient Egypt provide insight
TIME: 10:00 AM – 2:00 PM WHERE: Cubberley Community Center, Gym B,
into experiences of ordinary Egyptians in daily life and death.
Palo Alto Senior Table Tennis Club meets every Tuesday 10
4000 Middlefield Rd, Palo Alto
The exhibit features original artifacts collected by the Stanford family and others around the turn of the 20th century. This free event is open to the public.
TIME: 8:30 AM – 5:30 PM WHERE: Stanford Archaeology Center, Bldg. 500, 488 Escondido Mall, Stanford
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March 2019
PORTOLA VALLEY Non-Fiction Book Club Thursday, March 21, 2019
Join to discuss Freakonomics: A Rogue Economist Explores the Hidden Side of Everything by Steven D. Levitt and Stephen J. Dubner. Newcomers are welcomed. For all adults including 55+.
TIME: 1:00 PM – 2:30 PM WHERE: 765 Portola Road, Portola Valley
Youth Basketball Drop-in Gym Friday, March 8, 2019
Drop in for a quick game of basketball. Bring friends or join a game with other players. Activities will be canceled if there are no participants within the first hour of the program. Open to youth in grades 6 to 12 (Middle school or high school ID required).
PRICE: $ 0.50 resident / $1 Nonresident TIME: 7:00 PM – 10:00 PM WHERE: Columbia Neighborhood Center, 785 Morse Avenue, Sunnyvale
SUNNYVALE Sunnyvale Farmers Market Every Saturday Year-Round
Open year-round, rain or shine. Enjoy fresh fruits, vegetables
Little Ones Storytime Monday, March 11, 2019
Children ages 0-24 months are invited to hear fun stories, rhymes, and songs.
TIME: 11:00 AM – 11:25 AM WHERE: Library Program Room, 665 W. Olive Ave., Sunnyvale
and arts and crafts from local growers and artisans.
TIME: 9:00 AM – 1:00 PM WHERE: Murphy Avenue at Washington Ave, Sunnyvale
Zumba Fitness Drop-In Classes Friday, March 1, 2019
Come by for a fun cardio, dance, and fitness class that incorporates a variety of Latin dance styles (hip-hop, soca, samba, salsa, merengue, and mambo). Open to adults aged 18+, middle youth (ages 10 to 13) only if accompanied by parent or guardian and high school youth (ages 14 to 17) with a signed waiver from parent or guardian.
PRICE: $2 Resident / $3 Nonresident (cash only) TIME: 7:00 PM – 8:00 PM WHERE: Columbia Neighborhood Center, 785 Morse Avenue, Sunnyvale
Free Legal Clinic Saturday, March 2, 2019
Free 20-30-minute legal consultation with a volunteer licensed attorney. First-come, first served, no appointments available.
WOODSIDE Tai Chi
Every Wednesday in March, 2019 Join Tai Chi instructor Ben Dineen in the Native Plant Garden as he leads a sixty-minute class open to all ability levels. This centuries-old Asian exercise builds stronger bodies, better balance, and a sharper mind, and is a great stress reliever. For all adults including 55+.
TIME: 10:00 AM – 11:00 AM WHERE: 3140 Woodside Road, Woodside
Morning Tea at the Library Every Wednesday in March, 2019
Drop in for a cup of tea, a tasty treat, and read one of many magazines as you gaze out at the beautiful garden.
TIME: 11:00 AM – 12:00 PM WHERE: 3140 Woodside Road, Woodside
Recurring the 1st Saturday of each month (except on holiday weekends).
TIME: 10:00 AM – 12:00 PM WHERE: Columbia Neighborhood Center, 785 Morse Avenue, Sunnyvale
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