Atherton Luxury Estate Price Reduction

A beautiful estate in Atherton has just lowered the asking price of their 7,000 square foot, 6 bedroom, 5 1/2 bath on over one acre property to $6.6 million. That’s a price reduction of $400k! The home also has a pool, large grassy yard, sand volleyball court and located next door to where Joe Montana lived several years ago.  Atherton real estate has fewer properties on the market this year compared to last year, but homes are still moving and Atherton was just named as the second most expensive zip code in the nation as was reported today in the Realtor.com article. The full list is an interesting read.

Atherton Real Estate Sales Update for September 2011

Atherton luxury real estate sales figures for the month of September, 2011 compared to September 2010.  As you can see, the numbers are staying steady as listing prices are way up, but sales prices continue to remain down a bit from last year.

Menlo Park Real Estate Update – Statistics for September 2011

A short video that shows the important real estate statistics for Menlo Park sales figures for the month of September, 2011 compared to September 2010. This is a good indicator on how the real estate market for Menlo Park is doing and helps buyers and sellers determine timing for buying or listing a home for sale.

Atherton Mansion For Sale – Short Tour

I thought it would be fun to add a short form version of my longer tours and for now I’m calling them my 2 minute tour videos.  Here is one of my luxury listing in Atherton.  Atherton real estate is selling well this month and this home is getting many buyers looking with several return visits.  I look forward to your thoughts on this shorter form.

Atherton Estate For Sale With Discounted Price

Yes, it is true.  A high end luxury estate in Atherton is priced to sell and has recently lowered the asking price.  The estate has three buildings on it – main home, guest house and office/artists studio for a total of over 6,200 square feet of living space.  This home is great for extended families, has a beautiful pool with slide, parking for 8 cars, and a large lot with fruit trees and sitting areas.  The main home is centered around the open floor plan of the combined kitchen and family room areas where your family will congregate around meals or entertaining.  Bedrooms are all generous in size and have their own bathrooms for that “suite” feeling and privacy.

The home has been reduced by almost $400,000 to sell quickly and the new asking price is $3,495,000.  Lindenwood Estate homes are in demand and this luxury estate is priced to sell.  Great Menlo Park schools and close proximity to public transportation and freeways.

Call me for a private showing or if you need any more information.

Central Menlo Leads Sales Volume By Large Margin in Menlo Park

The Central Menlo area showed the most total sales volume by dollar amount compared to other areas of Menlo Park by quite a large margin. There was just over $122 million dollars in total sales for the last twelve month period. The results are based on 390 total sales for all of Menlo Park and 62 sales were posted in the Central Menlo area. Coming in second for amount of units sold was actually the east of 101 area of Menlo Park, however, the home sales prices are dramatically different than Central Menlo and the reason for the vast dollar amount difference. Luxury real estate sales are still strong as Central Menlo had an average sales price of just under two million dollars.

Area: Dollar Volume: Number of Sales
Central Menlo: $122,821,516: 62
County / Alameda Area: $67,163,500: 44
Allied Arts / Downtown: $50,725,625: 34
Willows / O’Conner Area: $47,499,890: 43
Menlo Oaks Area: $41,449,100: 21
Sharon Heights / Stanford: $35,012,600: 18
Middlefield to El Camino: $33,717,910: 28
County Area / Fair Oaks Ave: $24,399,875: 36
Flood Park Area: $24,246,275: 29
East of U.S. 101: $18,110,811: 61
Felton Gables: $9,250,000: 4
Alpine Road Area: $6,006,000: 6

Video Tour of Atherton Luxury Multi-Million Dollar Estate For Sale

Here is a video tour of my recent luxury real estate listing in Atherton, California that is priced just under 7 million dollars. The home has 6 bedrooms, 6 baths and approximately 7,000 sf.  It sits on just over one acre of beautifully landscaped grounds and is the perfect family estate.  There is a sunny pool, large decking area, hot tub, sand volleyball court, putting green, and large grassy area for kids of all ages.  Inside the home, the rooms are all large, have high ceilings and are all light and bright due to the skylights and windows throughout the home.  Located at the end of a cul-de-sac street of only 5 homes and behind an electronic gate, this home has the privacy many buyers in this price range want.  If you need further information, don’t hesitate to call me or send an email to gkurtz@apr.com.

Palo Alto Real Estate Takes a Breath

Palo Alto real estate is still hopping, however, the market has been cooling off a bit in recent weeks, as more homes are available and demand is less. Some prices even moved a bit lower as a result. Expect this trend to continue as more inventory hits the market.  Palo Alto has a lot of luxury real estate and is always an area in demand due to the tech executives and companies that call Palo Alto home.  In our recent reports, the median price in Palo Alto 94301 is $1,597,000 and average days on market is only 61 days.  Just a couple weeks ago, the median price was over $2.1 million so this shows the inventory in that sweet spot is fairly non existent.   The surprising number this week is the percentage of homes with a price decrease, which is 35%.  That’s a big number for such a strong area.  This means that the “in demand” homes have sold quickly and it’s probably the less desirable properties that are still sitting on the market.  It’s still a sellers market in Palo Alto and the average price per square foot is at $934 and I’ve seen homes that are asking way over that price per square foot, but are tending to sit if they go over $1,000.

High End Homes on Peninsula are selling.

In case you missed it, here is an excerpt from a recent article about the high end housing here on the Peninsula and how well it is selling.  Los Altos Hills  has had the big sale while Palo Alto is consistent and almost a sellers market.  Atherton and Menlo Park and moving along nicely with Atherton getting the high end sales.

Mark Zuckerberg buys in Palo Alto!

Mark Zuckerberg's New Home

Well, it’s only fitting that Mark Zuckerberg finally buys a house in Palo Alto.  After all, he has made billions of dollars while starting his company in Palo Alto, he might as well officially call it home and buy where he works.  Soon, he will be working in Menlo Park, but Palo Alto has the claim to fame on tech exec’s homes.

The king of Facebook’s home was purchases for just around $7.0 million dollars and the Palo Alto luxury real estate market continues to improve with this sale.  The house is nice, and within close proximity to his work and in a neighborhood where he won’t be bothered as the town is full of tech kings.  Let’s see how long he lives in it or if he calls this home his main residence, after all, a guy like him might just buy the house to keep the press/news world looking in one direction while he secretly buys a much bigger house somewhere else.

Here are some pictures of Zuckerberg’s home, it is very “Palo Alto ish” and nice.  If he wants to buy in Atherton, I have the perfect $6.9 million dollar home listed that he might want to look at due to the size, privacy and great yard for parties or hanging around the pool with the Facebook family.

Call me Mark!