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Private Atherton Estate now on the market for $6.99 Million

Private Atherton Estate now on the market for $6.99 Million

A new luxury home has hit the market in Atherton on a private cul-de-sac street.  My new listing has 6 bedrooms, 5.5 baths and is approximately 7,000 square feet.  It sits on just over one acre and has beautiful landscaping as well as the perfect setup for the family that likes an outdoor lifestyle or entertaining.  There is a pool, hot tub, lots of patio decking for parties, putting green, sand volleyball court and huge grassy area for playing any kind of family games.

The interior of the home is very spacious and light filled.  The six bedrooms are all generous in size and there is also a large office/den as well as bonus room that can be used for a workout room or media room.  The family room is large and just off the kitchen, so it creates the perfect hanging out area, that also happens to lead to the pool and outdoor entertaining areas.  This luxury Atherton real estate listing can be seen by appointment only by calling Gary Kurtz of Alain Pinel Realtors. The asking price is $6.999 million.  The virtual tour will show you more pictures or you can go to my APR website for more information.

Atherton has seen a surge in purchases of luxury real estate recently and homes in the 5-20 million dollar range have been selling, despite the sluggish economy.  Atherton California is one of the most expensive areas in the country, having ranked #2 for highest average listing price.

Atherton, Menlo Park, Palo Alto Real Estate Lead Surge In Sales

April 16, 2011 Real Estate News No Comments
Atherton, Menlo Park, Palo Alto Real Estate Lead Surge In Sales

The first quarter of 2011 have been a very busy time of year for realtors, especially at our Alain Pinel offices. Sales figures for the SF Peninsula overall had a surge, but sales at Alain Pinel’s Menlo Park offices hit an all time high. Sales volume for the first three months of the year were just over $170 million dollars from our one office alone. Atherton, Menlo Park and Palo Alto real estate and luxury real estate helped lead the way and this shows that Alain Pinel is the cream of the crop for getting business completed anywhere along the Peninsula.

These totals are the highest in years and shows that real estate is on the rebound. Some experts are thinking that the Facebook surge could also keep real estate booming in the area as millions of dollars of Facebook money will be hitting the streets very soon. There’s nothing like a new crop of millionaires hitting the streets with money to spend from their hard work and stock options from working at Facebook.

Luxury Estate in Los Altos Hills Sells for $100 Million Dollars

March 25, 2011 Real Estate News No Comments
Luxury Estate in Los Altos Hills Sells for $100 Million Dollars

Luxury Real estate sales in Atherton just took a back seat to the high dollar sale that happened in Los Altos Hills at 13310 La Paloma Rd. The estate went for a rumored $100 million dollars and is a 25,000 square foot mansion with everything imaginable included, and is almost a twin of the above pictured estate for sale in Southern California. The property sits on over ten acres and has lots of privacy, which is necessary for the Russian billionaire who bought it and is looking to make a big impact in the Silicon Valley digital/tech world.

Luxury real estate in Menlo Park, Atherton and Palo Alto will probably get a bump as more money will probably flow into the area from other Russian comrades who want to join in on the Silicon Valley real estate surge. 145 Josselyn Lane in Woodside recently sold for just over 15 million dollars and there have been several 10 million dollar sales in Atherton as well, so the luxury real estate market is definitely heating up and money is flowing into the local real estate scene.

I have off market listings in the 5-10 million dollar range and many sellers are calling me to sell their property off market to prevent the signs and publicity that goes with listing your home for sale. I specialize in this area and please don’t hesitate to contact me if you are looking to buy or sell a luxury property without all the for sale signs, looky loos or neighbors trampling thru your home. This applies to any priced home from 1 million up to 100 million as your privacy is your privacy.

Atherton Market Update

March 22, 2011 Real Estate News No Comments
Atherton Market Update

Again this week we see a downward notch for Atherton luxury real estate prices. Pricing has been weak in recent weeks and versus their absolute-high levels. Market Action Index is a good leading indicator for the durability of this trend. Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer’s market to a Seller’s market. Demand measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market.

The median list price for a home in ATHERTON this week is $4,669,000.

Median List Price: $ 4,669,000

Asking Price Per Square Foot:  $968

Average Days on Market: 156

Median House Size: 6502 SF

Median Number of Bedrooms: 4.5

Menlo Park Real Estate Market Update

March 21, 2011 Real Estate News No Comments
Menlo Park Real Estate Market Update

The median list price home in Menlo Park this week is $1,098,500.

Inventory has been lightening lately and the Market Action Index
has been trending up. Though days-on-market is increasing, these
are mildly positive indications for the market.

Supply and Demand

Home sales have been exceeding new inventory for several weeks.
While still a Buyer’s market, prices seem to have responded by
moving upward. If the demand trends continue, expect prices to
keep marching upward, especially once we see a Seller’s Market.

Market Action Index: 19 (strong buyer)
Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.

Real-Time Market Profile Trend
Median List Price $ 1,098,500
Median Lot Size  6500 SF
Average Days on Market (DOM) 97
4,501Median House Size (sq ft) 1690
Median Number of Bedrooms: 3
Asking Price Per Square Foot $636

Despite this week’s down tic, price trends have generally been
moving up lately. Prices are below the market’s high point, and
so watch the Market Action Index as an indicator of how long this
trend will last.

Save Taxes On Your Real Estate Purchases With A 1031 Exchange

Save Taxes On Your Real Estate Purchases With A 1031 Exchange

The Real Estate Insider talks with Ron Ricard on how to save taxes on your real estate purchases using the 1031 exchange loophole. Many of my clients that buy luxury real estate in Menlo Park, Atherton, Palo Alto and other areas use this rule when handling their real estate portfolio.

Palo Alto Million Dollar Condo On The Market

Palo Alto Million Dollar Condo On The Market

Check out my listing for a condo in downtown Palo Alto that is just a block away from University Avenue and the great restaurants and shops that people love. It’s just under 1800 square feet, single level and is located in a security building. If you want to know more about it or are looking for other homes in the area, please give me a call.

Palo Alto Home Sales Stay Strong

November 11, 2010 Real Estate News No Comments
Palo Alto Home Sales Stay Strong

Home sales in Palo Alto for the 3rd quarter in 2010 remained up compared to the same time period in 2009. The total number of homes sold as well as the prices were up a strong 10%.  When you combine that with the numbers showing the average days on market for the sale of a home in Palo Alto were down 15%, you have the feeling that inventory is still moving and buyers still want to be in this beautiful city.  The leaves are falling and temperatures are cooling, but the real estate market is staying on the hot side as multiple offers are still happening.  Let’s hope for a good final quarter of the year.

Palo Alto                              3rd Q/09                             3rd Q/10                        Change
# of Sales                                 105                                        116                                  10%
Average Price ($000)    $1,463                               $1,616                                10%
Average DOM                         59                                         50                                   -15%

Atherton Sales Prices Stay Strong Despite Drop In Sales Volume

October 15, 2010 Real Estate News No Comments
Atherton Sales Prices Stay Strong Despite Drop In Sales Volume

Sales prices in Atherton of luxury real estate stayed strong in the 3rd quarter of 2010 compared to the 3rd quarter of 2009.  Despite the economy and general gloom and doom news, it was surprising to see the prices jump for the Atherton real estate market.  Prices increased while the number of sales took a big dive, dropping almost 40%.  Since the inventory levels also took a huge increase, this means that the inventory is there, but buyers are being very selective.

Realtors and home sellers are hoping for an end of the year surge in sales.  The best case scenario for a buyer is in place due to the high amount of inventory on hand.  Atherton real estate was just named by the Wall Street Journal as the second priciest area in the country, coming in only behind an area of New York.  So, in essence, real estate in Atherton is the most expensive on the west coast.

Atherton                            Q3 2009         Q3 2010               Change

# of Sales                                  26                        16                       -38%

Avg Price (000)                   $ 3,424              $ 3,972                  16%

Avg DOM                                  94                         64                      -32%

Months of Inv.                     3.2                         13.3                    316%

The Winner For Best Food At An Open House Goes To…

September 8, 2010 Real Estate News No Comments
The Winner For Best Food At An Open House Goes To…

Yes, it’s a perk of the trade.  If you were to combine Top Chef with Million Dollar Listing, you would get the ritual that most real estate agents here on the Peninsula experience on a weekly basis.  Every week, agents put their new listings on “broker tour”, which is when they want every real estate agent to come by and see their new listing and quickly spread the word to their clients.  If you get a lot of agents showing up and your house is priced right, it spreads the word exponentially so it’s really like an open house for agents.

To help get agents (and the public) to show up, many agents add enticement, and nothing does it better than good old free food. Since the Primetime Emmy Awards for Outstanding Television are this coming weekend, I thought it would be appropriate to give my own real estate meets Emmy style award to the hard working, meal providing real estate agents out there who make our grueling treck to multi million dollar homes much more enjoyable.

The nominations are:

Sherry Bucolo of Alain Pinel in Palo Alto for her listing (also in Palo Alto) where she served very tasty chicken strips, fresh fruit, finger sandwiches and lemonade…all at one time.  It’s polite to grab a couple of items after viewing the  house…but I think I grabbed a small plateful between each floor – and there were three levels!  The chicken fingers were better than a restaurant and there was even ranch dressing for dipping. Oh yeah, the house was nice too and sold within a week.

Paul Engel of Coldwell Banker in Palo Alto who provided a “potential for a meal”.  I say potential because he provided a lottery ticket to every agent who showed up.  I haven’t checked my numbers yet, but if I win $5, then it’s McDonalds meal and no award.  If I win $100, then a Sundance Steak and a victory.  If I hit it big, I’ll buy Paul’s listing.

Steve Papapietro and Ahmad Ghavi of Bank of America.  These are lenders that provide broker tour food for various agents to help spark their lending business.  Their main item – meatballs to die for!  I don’t know where they get them, but they could make a tear down in East Palo Alto suddenly look like an Atherton mansion after eating the meatballs and washing them down with the iced tea they also serve. Nothing is quite the same after eating them.

Ken DeLeon of Keller Williams in Palo Alto.  Ken’s broker tours and open houses are infamous for his lunch setup which includes delightful double deviled eggs as well as the coffee cart that accompanies each new listing.  The deviled eggs are huge and sinfully delicious while the mocha’s, lattes and hot chocolates are made with personality and Star Bucks like taste.  I know agents who schedule their broker tour around Ken’s listings as you must show up around lunch to make the most out of this full free meal.

Before I announce this someday important honor, keep in mind that potential buyers can also come to these sometimes tasty broker tour hotspots.  All you have to do is call your agent and ask to join them on tour.  Broker Tour is every day of the week in a different city, for example Menlo Park and Atherton are on Tuesdays, Palo Alto and Los Altos on Fridays etc.  And if your looking to buy a home and don’t have an agent, call me and I’ll gladly serve as your Maitre d’.

Ok, the music is playing and I’m running over my allotted word count.  The Winner for best food at a broker tour/open house is………Steve Papapietro and Ahmad  Gavi of Bank of America.  Not only is their food great, but they are always at their open houses and add the element of nice conversation to the mix.  A recipe for success.

My Contact Information

Gary Kurtz
949.565.5201
gkurtz@homgroup.com
BRE# 01710776

Kathy Kurtz
714.394.2676
kathyk213@aol.com
BRE# 01876966

HOM Sotheby's International Realty
1200 Newport Center Drive, # 100
Newport Beach, CA 92660

949.565.5201 (cell)
949.478.7769 (office)
650.796.5507 (Silicon Valley #)

Contact me now with any questions:
gkurtz@homgroup.com

Kurtz Real Estate Group




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