AWARD WINNING MARKET REVIEW 2015MARKETREVIEW.com
Happy Holidays At the near close of another year, we gratefully pause from the hustle and bustle in the Silicon Valley to wish you Happy Holidays. From my home to yours, I hope you have a merry holiday season and a Happy New Year! Thank you!
DAWN THOMAS BROKER ASSOCIATE
(650) 701 7822 TEAM@SILICONVALLEYANDBEYOND.COM SILICONVALLEYANDBEYOND.com
SILVAR
Honors
Local Veterans with Scholarship Fund “Getting an education is one of the things that can help us lead a fuller life,” says Tom Gordon, guest speaker and U.S. Air Force veteran (19841988). “When veterans come home there are gaps that are gradually getting better and the largest gap was education.”
By Melanie Klaren
A new component of the Silicon Valley REALTORS® Charitable Foundation was honored on September 23, 2015 at the Palo Alto Hills Golf & Country Club. More than 150 members enjoyed live music, drinks, and hors d’oeuvres while bidding on auction items. The event raised more than $45,000 for the SILVAR Veterans Scholarship Fund, a new inititiave that honors local veterans with military histories spanning the 1950’s through Desert Storm. This new scholarship fund will support eligible U.S. veterans and dependents of deceased veterans residing in SILVAR’s traditional service area of Silicon Valley, Menlo Park, Atherton, and other cities in the San Mateo and Santa Clara counties who wish to continue their education. SILVAR’s president, Chris Isaacson, welcomed the guests to the event. Lehua Greenman, SILVAR Membership Committee Chair and Silicon Valley REALTORS® Charitable Foundation Trustee, organized the evening, and also served as the Master of Ceremonies alongside Joe Simitian, Santa Clara County District 5 Supervisor. “We encourage our community to care enough to say thank you [to veterans] and tangibilitize our appreciation for their service,” said Simitian. U.S. Representative, Anna Eshoo, presented the Certificate of Special Congressional Recognition for outstanding and invaluable service to the community. The presentation preceded the recognition of all attending U.S. veterans. Over ten veterans described their branch, achievements and were honored for their service.
The inspiration for the scholarship event spawned from a desire to aid the large population of veterans and military families living in the midpeninsula area. The event’s proceeds will go towards Silicon Valley REALTORS® Charitable Foundation and be earmarked for the SILVAR Veterans Scholarship Fund. The scholarship recipient must use the scholarship towards a college within the borders of Woodside to Los Gatos.
“Education is one of the three criteria that would qualify a charitable grant or contribution considered by the Foundation. The three criteria are education, housing and children. We have never had an event to honor our veterans,” says Greenman. “Many veterans no longer have education benefits. There are veterans who would like to further their education goals but need financial support. This seemed like the perfect way to help them achieve those goals.” The event was generously sponsored by Menlo Park-Atherton District, P
Mountain View District, Cupertino-Sunnyvale District, Los Gatos-Saratog Professionals Network, HomeFolio Media, as well as the SILVAR's Memb the successful fundraiser.
The Charitable Foundation has funded scholarships and presented to students for over 16 years. The organization looks forward to expanding their aid to local veterans. The event was generously sponsored by Menlo Park-Atherton District, Palo Alto District, Los Altos-Mountain View District, Cupertino-Sunnyvale District, Los GatosSaratoga District, Silicon Valley Young Professionals Network, HomeFolio Media, as well as the SILVAR’s Membership Committee who planned the successful fundraiser.
At Opes we take pride in our relationships with Realtors®. With financing options like our Bridge Loan program, we help you put a client’s dream home within reach. 2875 El Camino Real, Palo Alto, CA 94306
650.319.1600 26
www.opesadvisors.com
Help when you make the most important financial decisions of your life. Opes Advisors is licensed by the CA Department of Business Oversight 4150089 under the California Residential Mortgage Lenders Act, Oregon ML-4902, Washington CL-1178435 and NMLS 235584. Equal Opportunity Lender. Opes Advisors is a registered investment advisor with the Securities and Exchange Commission (SEC). ©2014 Opes Advisors, Inc. All rights reserved.
Selling Successfully for Over 20 Years! Thank You for a Great 2015!
650.218.4337 JOHNFORSYTHJAMES.com john.james@apr.com Cal BRE# 01138400
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GIVE YOUR HOME THE EXPOSURE IT DESERVES...
Local expertise with global reach
Daphne visits China, Taiwan, Hong Kong, and Singapore several times a year to promote her listings by speaking at large US luxury real estate seminars and participating in numerous real estate expos. To reach national and international luxury audiences, your listing is advertised on selected websites such as LuxuryPortfolio.com, LuxuryRealEstate.com, WSJ.com, CaiMeiJu.com, and China.apr.com.
DAPHNE CHOU, Ph.D. 周靖芠博士 WeChat & Line ID: drdaphne
License# 01452752
650.888.8268
408.218.7522
dchou@apr.com DaphneChouHomes.com
Daphne Chou & Alain Pinel Realtors a brand name you can TRUST! 5
GORGEOUS UPDATED TOWNHOME
22 Los Altos Square, Los Altos ~ Offered at $1,375,000 The opportunity you have been waiting for. This 3 bedroom, 2.5 bath townhouse is located in the prime area of the complex. Featuring numerous updates, top Los Altos Schools , close to Whole Foods, Safeway and Starbucks. Los Altos Square offers tranquil living in an idyllic setting. 3 pools and clubhouse on grounds. • 3 bedroom, 2.5 baths,1568 sq.ft. • Spacious Living Room with Fireplace
SOLD
• Formal Dining Area • Updated Kitchen,Granite Counters
SOLD
50 Parsons Way, Los Altos Offered at $2,599,000
398 Hawthorne Ave, Los Altos Offered at $1,998,000
GARY HERBERT Broker
650.799.4021
Gary@siliconvlyhomes.com www.siliconvlyhomes.com CalBRE#00762521
• Hardwood Floors • Inside Laundry, 2 Car Garage
SOLD
506 Orange Ave, Los Altos Offered at $4,895,000
Happy Holidays! Thank You for Your Continuing Support!
“I cannot overstate the
“He did everything
fabulous service we received from Greg… his marketing plan was well thought out and executed and his negotiating skills were beyond expectations!” - Casey Havre
Wrapping up 2015...
humanly possible to make our house shine and as a result, we got 8 offers over asking.” - Lester Lee
27 Sargent Ln, Atherton 805 Magnolia St, Palo Alto 2170 Emerson St, Palo Alto 22345 McClellan Rd, Cupertino 660 Seale Ave, Palo Alto 2279 Santa Ana St, Palo Alto 2642 Kipling St, Palo Alto 2441 Hastings Dr, Belmont 1357 Woodland Ave, Menlo Park 1600 Courtland Rd, Belmont 3817 Magnolia Dr, Palo Alto 1519 Escondido Way, Belmont
179 Bay View Dr, San Carlos 904 Chevy St, Belmont 1631 Francis Ave, Belmont 135 Manor Dr, San Carlos 3416 Lodge Dr, Belmont 2604 Lincoln Ave, Belmont 18 Arch Lane, San Carlos 173 Elwood St, Redwood City 3303 Dover Rd, Redwood City 164 Beach Park Blvd, Foster City 4024 Farm Hill Blvd, Redwood City
650.740.1580
greg@apr.com www.GregCelotti.com CalBRE#01360103
Looking for the LOCAL advantage for selling or buying Real Estate?
Call Derk to learn how his LOCAL advantage benefits his clients.
SOLD
SOLD
1130 University Avenue Palo Alto
1114 Blue Lake Square Mountain View
920 Hamilton Avenue Palo Alto
Sold for $3,575,000
Sold for $1,850,000
Sold for $8,650,000 Represented Buyer
SOLD
202 Pope Street Menlo Park
SOLD
SOLD
SOLD
101 Waverley Street Palo Alto
1084 Fife Street Palo Alto
2240 St. Francis Drive Palo Alto
Sold for $5,000,000 Represented Buyer
Sold for $3,250,000
Sold for $2,065,000
Sold for $2,950,000
SOLD
SOLD
SOLD
SOLD
1341 Stone Pine Way Menlo Park
1350 Miravalle Avenue Los Altos
13171 Lorene Court Mountain View
Sold for $1,975,000
Sold for $4,250,000
Sold for $3,100,000
Derk Brill
Call Derk to schedule a one-on-one meeting at
CELL 650.814.0478 Alain Pinel Realtors 578 University Avenue, Palo Alto CalBRE# 01256035 dbrill@apr.com
www.DerkBrill.com
Wishing you a happy holiday season and the very best for 2016. My sincere thanks for your continued support of my business over the past year.
Please Call For Your Complimentary Home Market Evaluation!
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650.279.8892 joeparsons@apr.com | JoeParsonsRE.com CalBRE#: 01449421
Trust | Experience | Results Joe’s background, experience, and savvy business acumen provide a solid background to help buyers and sellers reach and achieve their goals. SALE PENDING
1437 ALAMEDA DE LAS PULGAS, REDWOOD CITY | $1,495,000 Lovely home with remodeled kitchen & family room; living room and separate dining area. Landscaped back yard area with Bar-B-Que patio area. Close to Woodside Plaza, shopping, restaurants and easy access to highways 280 & 101.
1050 LOUISE STREET, MENLO PARK | CALL FOR PRICE Construction Underway!....Beautiful New Custom Home being built in Central Menlo Park; Architecture, Planning, and Permits Complete. Add Your Own Personal Touch. Ready Summer 2016. Contact Listing Agent for more information.
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CHEER
AND MERRIMENT FILLED WITH SMILES
PEACE
TO YOU & YOURS THIS SEASON
HAPPY
DAYS AHEAD FOR A WONDERFUL NEW YEAR Happy Holiday’s and many thanks for your continued friendship and support! David Weil, Realtor® Luxury Property Specialist
650.823.3855 | david@davidweilhomes.com davidweilhomes.com | License: 01400271
Wishing you a Happy Holiday Season from Pacific Union, the Bay Area’s leading luxury real estate firm.
Menlo Park | Palo Alto | Burlingame | 650.314.7200 | pacificunion.com
One-of-a-kind Estate in Los Altos Hills Cover Home
Designed and built with meticulous detail, nothing was overlooked in this masterpiece. From the moment you step in the door you are surrounded by understated elegance. Brazilian granite counters, limestone floors, Subzero, Fisher Paykel, and Miele appliances create a cook’s kitchen. Five bedrooms and six and a half bathrooms including a large master suite with fireplace, TV with surround sound, separate closet room and spa-like bath with steam shower. With a nine seat movie theater, exercise room, game room, wine cellar, Japanese teahouse style guest house with garden, a pool cabana equipped with full outdoor appliances and cabinetry, and Los Altos Schools, this estate has everything.
www.ExceptionalLAHestate.com • Offered at $13,888,000 For an incredible video including aerial footage visit the website: EstateLAH.com
650.948.1100 www.DavidBergman.com David@DavidBergman.com CalBRE#01223189
Rare Opportunity 245 Mountain Wood Lane Woodside
5 BR/3 BA | 3550 Sq. Ft. | 3.016 acres | Built in 1957 One of the finest locations in Central Woodside, this 3 acre parcel offers the rare opportunity to renovate or build your dream home on the private Mountain Wood Lane. Stunning Western Hill Views, surrounded by majestic trees, great light, very private, access to private equestrian trails, this property has it all. This is an estate site for your most discerning buyer. Existing 5 bedroom/3 bathroom home is usable for living or rental during your planning process with the town. OFFERED AT $7,775,000
www.245MountainWoodLane.com
DAVID KELSEY 650.223.5588 david@dallaskelsey.com CalBRE#01242399
HEIDI JOHNSON 650.868.3714 Heidi@apr.com CalBRE#00379463 15
2 7 8 8 6 V I A V E N TA N A WAY I N L O S A LTO S H I L L S
www.27886ViaVentana.com
• • • • • • • • • • •
6,362 +/- SQFT 2.45 Acre Lot Custom High End Construction 12” exterior walls; upgrades throughout 4 En-Suite Bedrooms Luxurious Master Suite Exquisite Music Room/Library [MXL WSYRH TVSS½RK Pool, Spa & Pond Serene, Private and Quiet with Spectacular City Views and Valley Views Palo Alto Schools Close to Stanford University Offered at $7,998,000
M AT T Z A M P E L L A
C I N DY M U E L L E R
Peninsula: (650) 223-9343 San Francisco: (415) 264-7224 12
matt@serenogroup.com www.MATTZAMPELLA.com CalBRE # 01815607
This information was supplied by reliable sources. Sales Associate believes this information to be correct but has not verified this information and assumes no legal responsibility for its accuracy. Buyers should investigate these issues to their own satisfaction. Buyer to verify school availability.
(408) 691-9355 cindym@serenogroup.com www.cindymrealtor.com CalBRE # 01979476
Happy Holidays Wishing all a happy and healthy Holiday Season and a prosperous New Year
www.teamaliceandalicia.com CERTIFIED RESIDENTIAL SPECIALIST | CERTIFIED RESIDENTIAL BROKERS
Alicia Nuzzo
650.504.2394
alicia@serenogroup.com BRE#01127187
lice
&
licia
NUZZO TEAM
Alice Nuzzo
650.504.0880
alice@serenogroup.com BRE#00458678
650.201.1010
Dan.Ziony@CBNorCal.com CalBRE#01380339
www.DanZiony.com 18
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Jean Isaacson Chris Isaacson 650.387.8427 650.352.3430 jean@jeanisaacson.com chris@chrisisaacson.com CalBRE #00542342 CalBRE #01754233 Call or visit our website:jeanandchris.com 2969 Woodside Road • Woodside, CA
Front row: Eva Joseph – Escrow Assistant Nancy Domich – Senior Account Executive 2nd row: Kimberly Phillips – Escrow Assistant Joann Cuneo-Daw – Branch Manager – Escrow Officer 3rd row: Linda Michel – Escrow Officer Kathy Smith – Escrow Officer
Wishing you health and happiness in 2016 from our Los Altos Staff! LOS ALTOS BRANCH 167 S. San Antonio Road, Suite 5 • Los Altos, CA 94022 Phone: (650) 941-5700 www.ortc.com 12.2.15
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PRIME WEST MENLO CO MIN GS
• New custom Craftsman style home • 4 spacious Bedrooms with vaulted ceilings • Downstairs Bedroom, adj. bathroom with walk-in shower • Great for extended Family Living • Open Kitchen with large island perfect for entertaning
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OO N
• Great Room with Nana glass walls • Natural light with ideal Southeastern Exposure • Backdrop of Mature Redwoods • Beautifully designed and crafted with top quality materials • Nearing Completion
REAL ESTATE ADVISORS & BROKERS
WHY ARE THERE
NO HOMES TO BUY? Would-be buyers commonly complain of high prices and a lack of homes to buy. Is this perception or reality? The trend line on the chart below confirms that home sales in the Mid-Peninsula have declined over the past twenty-plus years. As evidenced by the high incidence of multiple offers over many years, the decline is the result of a lack of supply, not demand. From 1994 to 2006, the average number of sales each year in the cities cited was 2,355. From 2007 to 2014, it was 1,845, a 22% decline. The local economy was gangbusters in 2014, yet the number of home sales was lower than in any non-recession year over this period. Further, 2015 is echoing 2014 with YTD sales up only 1.8%. It could be hoped that this is a temporary condition, though it appears to be a structural change in the marketplace. Simply put, there have been relatively few additions to the housing stock, and the number of home sellers is decreasing. To understand this change, consider the four reasons why homeowners sell. (1) The home is the wrong size. It may be too small or too large to meet the owner’s current needs. (2) Death. (3) Relocation out of the area. (4) A change in financial circumstances. More resources may fuel a desire for change, while conversely, a financial reversal could force change. For some potential sellers, the choice is voluntary and for others it is involuntary. The ranks of the former group are being depleted largely because of issues that flow from a lack of supply and the resultant strong appreciation and high prices. NUMBER OF HOME SALES 1994–2014 – PALO ALTO, MENLO PARK, REDWOOD CITY, MOUNTAIN VIEW, LOS ALTOS 3000
HOUSE TOO SMALL: Homeowners who want or need more space face the same problems as any buyer – too few opportunities. Most are seeking a move-in condition home, not a project. This is difficult because much of the local housing stock is dated, functionally obsolete, or modest relative to the price. For those who need to sell first to buy their next home, the risk that they may not find the next home is a show stopper. (This has spawned a legion of reluctant remodelers.) This results in the classic downward spiral: cannot buy, therefore cannot sell; thus, fewer and fewer homes come to market. HOUSE TOO BIG: This group is populated largely by empty nesters. Downsizers face the same issues as the up-sizers, and at the older end of the scale, there are limited retirement home options. Further, as people age, they are staying in their homes longer because they are healthier, living longer, and are the beneficiaries of support systems. (Think in-home care and Uber.) TAXES: Due to healthy appreciation, many would-be sellers face a capital tax burden that is onerous, sometimes to the degree that the after tax equity is insufficient to make the move. In addition, a new home will come with a new property tax bill that may also dampen the desire to move. The longer one owns their home, the greater these deterrents. INVESTMENT: After purchasing a new domicile, a growing number of potential sellers choose to keep their former homes for investment. Again the spiral: constrained supply pushes home prices and rents up, making homes a good investment, which in turn causes the supply of resales to be constrained further, and so on. Over time, as the over-80 age cohort grows in size, more project homes will come to market. However, this will likely be more than offset by the other strangulating trends cited. In sum, under current conditions there is nothing to indicate that the decline in the number of homes available to purchase will abate, rather than exacerbate. The region has long been characterized by a chronic shortage of housing. The growing shortage of resale homes is but another dimension of a profound and destructive housing crisis. Housing of all types, both rental and ownership, is needed to relieve the pain being suffered by many. This will take leadership and a cultural reset in those areas where there is resistance to change and loathing of density.
NUMBER OF SALES
2500
2000
1500
1000
STEVE PIERCE
500
0
‘94 ‘95 ‘96 ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘08 ‘09 ‘10 ‘11 ‘12 ‘13 ‘14
YEARS
650 533 7006 pierce@zanemac.com CalBRE # 00871571
SOURCE: MULTIPLE-LISTING SERVICE
ZANEMAC.COM
650.941.4300 195 S. San Antonio Road, Los Altos
www.campi.com Local Expertise, Global Exposure
INCREDIBLE CHATEAU VINEYARD ESTATE
LOS ALTOS HILLS | 24970OKEEFELANE.COM | $10,800,000 Rare opportunity to own a vineyard estate over ~10,000 sq ft | Private and gated | 5-bedrooms, 5.5-baths in the main residence | Office Wine cellar | Theatre/game room | 1-bedroom, 1.5-bath guest house with caterer’s kitchen | Wine banquet room and cellar | Fitness Center | Pool and spa | Tremendous vegetable gardens, orchard, plus 150 Merlot vines | ~1.9 acres | Excellent location close to downtown Los Altos
Bay Area Real Estate Broker with an Exceptional Reputation
Gary Campi Owner & Broker 650.799.1855 gary@campi.com CalBRE 00600311
SERAFINO BIANCHI & THE BIANCHI TEAM
Committed to Excellence
Exquisite Mediterranean-style Home, Horse Facility & Family Compound
5530 Johnston Road, P leasanton • • • •
Gated, flat 3± acre estate zoned A-2 allowing MULTI USES for this outstanding property Single level Mediterranean-style, 4BR/4.5BA, office/library, 5000± sq. ft. with attached 1000± sq. ft. extra large 4-car garage Guest house offers matching stone & column entry, 1BR/1.5BA, 1000± sq. ft. with totally separate concrete back patio and backyard Custom designed 7 stalls Barn, exquisite Brazilian Redwood Stalls, full paddocks, rubber paver flooring, full bathroom, hot/cold wash rack, tack room & loft storage • The covered/indoor arena is approx. 120’x72’ brightly lit with sprinklers and engineered footing • This property also includes a Private Water system generating ample water for irrigation and home use
For more pics and full property details please visit www.5530JohnstonRoad.com 30 Years of East Bay Real Estate Experience!
Serafino & Pat Bianchi 925.858.0649 SBianchi@Pacunion.com www.BianchiEstates.com License #: 01032324 | 01460551
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Offered at $5,400,000
NO PLACE LIKE H O M E F O R TH E H O L ID AYS 21976 Gillette | Los Gatos Gorgeous custom built approx. 1.4 acre estate just 10 minutes from town center, lake and Valley Views. 4000+ sqft open floor plan throughout. Additional 3 bedrooms and full-size baths all with low flow plumbing and top-quality fixtures. Space for a guest or nanny suite. Surrounded by 13.5 acres of green space and nature views from each window, 5 view terraces and decks. Offered at $2,000,000
1650 The Alameda | San Jose One of the finest examples of a Julia Morgan design and the only one in San Jose was built for the lumber baron, James Pierce. This stunning home has been masterfully restored to its stately origin and gently transformed to serve as a professional office. The spacious and luxury residence/office offers ample space to impress associates and clients alike. The central location minutes from downtown, Caltrain, Airport and SCU is ideal for a livework arrangement or professional offices.
Offered at $3,500,000
SALE PENDING 15690 Gum Tree | Los Gatos Views of the entire Bay, City lights, Western Hills in one of the Bay Area’s most exclusive neighborhoods, over a 6 acre knoll top, modern 7200 sqft compound surrounded by a luxurious new development with homes priced at $5-$6 million on lots that are less than half the size. Offered at $3,998,000
Arthur Sharif
Arthur@SVLuxRe.com www.SVLuxRE.com 650.804.4770 CalBRE: 01481940
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Specializing In
COUNTRY & EQUESTRIAN PROPERTIES Lynnewood Estate $1,995,000
Pleasanton - Imagine living on 4.97 acres in the
west side hills with 4,256 sq. ft. of living space and 5 bedrooms/ 4 baths. The grounds consist of towering trees, a pool, stable and corral, oversized workshop and direct access to Pleasanton Ridge Park. Discover more at 2870FoothillOaksTerrace.com
Swallow’s Nest Ranch Sold For $2,425,000
Danville - Imagine owning this 20 acre jewel in
the Tassajara Valley with a 5,100 sq. ft. home and guest house. Other highlights include a barn, pool, good well production and panoramic views of the valley. Minutes to Mt. Diablo State Park trailhead. Discover more at 2600FinleyRd.com
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f lg ix Ann Marie Nugent,CLHMS, GMS 925.260.8883|License#01230832
Jim Walberg, CIPS 925.260.8800|License#01119801 www.TheBayAreaTeam.com
marketing communications & public relations for real estate professionals direct mail | search engine optimization | social media communications | online reputation & brand management 925.202.2426 | www.homefoliomedia.com | info@homefoliomedia.com
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opesadvisors.com | 650.319.1617 | 2875 El Camino Real, Palo Alto, CA 94306 Opes Advisors is licensed by the CA Department of Business Oversight under the California Residential Mortgage Lending Act, License #4150089, Oregon ML-4902, Washington CL-1178435 and NMLS 235584. Equal Opportunity Lender. Opes Advisors is a registered investment advisor with the Securities and Exchange Commission (SEC). Š 2015 Opes Advisors, Inc. All rights reserved.