homefolio: palo alto atherton los altos hills menlo park mountain view volume 2 issue 9
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HomeFolio: Palo Alto Atherton Los Altos Hills Menlo Park Mountain View Volume 2 Issue 9TRANSCRIPT
11627 Dawson Drive, Los Altos Hills | $18,950,000The Dawson Estate aka Rancho San Antonio sits on approximately 5.6 acres with private Western Hills exposure | The large estate boasts California living at its finest | Servants/guest wing that includes a 5000+ bottle wine cellar | 8BR/11BA | 16,700 sqft | A former owner and avid car collector
constructed an additional garage that can house over 35 cars.
www.11627DawsonDrive.com
2051 Valparaiso Avenue, Menlo Park | $3,188,000Spectacular Transitional Craftsman completed in 2016 | 4BR/3BA
2,528 sqft | 6,000 sqft | Award-winning Las Lomitas schoolswww.2051Valparaiso.com
245 Mountain Wood Lane, Woodside | $7,250,0005BR/3BA | 3550 sqft | 3.016 Acres | Built in 1957 | 3 acre parcel
offers the rare opportunity to renovate or build your dream home
www.245MountainWoodLane.com
DAVID [email protected]#01242399
www.DavidKelsey.com
Call today for a confidential and complimentary home evalution.
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.
2875 El Camino Real, Palo Alto, CA 94306
650.319.1600www.opesadvisors.com
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.
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Solar ElectricityResidents can incorporate three types of solar energy into their home: passive solar, solar thermal, and photovoltaic (PV). Passive solar simply consists of orienting your home towards the sun, which may have already been done intuitively by design. Solar thermal systems are often used to heat pools and water, while PV harnesses the sun’s energy to create electricity for the home.
Yet, rooftop solar panels have become the most popular option on this spectrum. Beyond environmental, the benefits are visible on the utility bill. Local companies like SolarCity offer both leasing and purchasing agreements, creating options for the weary. Until the end of 2016 federal tax credits also save homeowners 30 percent off of solar installation prices, which will likely drop down to 10% at the beginning of 2017.
Water ConservationWater efficiency also serves as a heavy player in green living. As California’s drought remains top of mind, new and remodeled homes have weaved in practical water-wise components. Low-flush toilets have become standard. These alternatives soak up just half the water a conventional toilet uses. Multi-setting showerheads, water-efficient faucets and dishwashers, as well as tankless water heaters all offer easy ways to shell off wasted gallons.
When it comes to landscaping consumers can explore smart watering systems like Iro. This product features a Wi-Fi-connected sprinkler system that schedules watering around the resident’s geography and weather.
Those looking to go above and beyond can also integrate gray water systems into their home. The most common gray water DIY conversion irrigates backyard plants with water from the washing machine. Art Ludwig, author and ecological systems designer of Oasis Designs, describes how to re-direct 10 to 25 gallons of water per load for a horizontal-axis machine, or about 40 gallons per load for a vertical axis machine. If residents use a biocompatible detergent, this water can hydrate ornamental plants and fruits trees.
Efficient HVACWith plenty of smart systems on the market, there’s no need to watch the AC bill rack up this summer. Nest Thermostats have become widely popular throughout the Bay Area, allowing homeowners to set thermostats from their phone to conserve and ensure ideal temperatures. Apps like Wink enable homeowners to save electricity by remotely turning off lights that have been accidentally left on. Residents can pair Wink with Cree’s Connected LED lights, which not only sip power, but can also be controlled via phone.
While these smart heating and cooling systems stack benefits, it’s imperative to have double-paned, water-stripped windows to retain desired temperatures throughout the home. Single-paned windows can release up to 25% of the home’s air, raising the AC bill during hotter months.
Whether you’re incorporating just one or multiple eco-minded alternatives, the benefits generally speak for themselves. Discuss rates and options with your local solar, appliance, and HVAC professional for further information.
In a time where sustainability permeates everyday living, Peninsula and Silicon Valley residents have incorporated a wide range of green aspects into their homes. Low-flush toilets, solar panels, and efficient cooling systems are just a few of today’s many options. For those interested in reviewing what’s available, we’ve simplified your search by compiling a fundamental guide to green living.
By Kimberly Gomes
REAPING the Benefits of GREEN LIVING
GREG CELOTTI PRESENTS...
JUST LISTED1316 Rosewood Avenue
San Carlos
Gorgeous single level home on a quiet street just blocks from vibrant downtown San Carlos.
1316Rosewood.comOffered at $1,288,000
COMING SOONMenlo Park
Wonderful single level home on a quiet street in the coveted Menlo Oaks neighborhood with outstanding schools.
Call for Price and Details
COMING SOONBelmont
Beautifully updated 4 bedroom, 2 bath home in a peaceful setting with gorgeous views and excellent Belmont schools.
Call for Price and Details
[email protected]#01360103
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Derk BrillCall Derk to schedule a one-on-one meeting at
CELL 650.814.0478Alain Pinel Realtors
578 University Avenue, Palo AltoCalBRE# 01256035
www.DerkBrill.com
This stylish and contemporary, 5 year-old 3 bedroom, 2.5 bath attached single family home, blocks from University Avenue, is the epitome of urban chic. Private and secure location, walking distance to downtown restaurants, shops, and nightlife. Inside, the sleek design, high ceilings, expanses of glass, and open living areas create a light, airy environment. Spacious master suite with spa-inspired bath, indoor/outdoor living with spacious Ipe wood deck, and green amenities such as tankless water heater, and solar heating. Attached 1-car garage.
Contemporary Urban Elegance in Downtown Palo Alto
Coming Soon
www.PAUrbanElegance.com Call Derk for Details
22 Los Altos Square, Los Altos ~ Offered at $1,375,000GORGEOUS UPDATED TOWNHOME
SOLD Over List Price in 5 Days
398 Hawthorne Ave, Los AltosOffered at $1,998,000
SOLD
50 Parsons Way, Los AltosOffered at $2,599,000
SOLD
506 Orange Ave, Los AltosOffered at $4,895,000
SOLD
• Hardwood Floors• Inside Laundry, 2 Car Garage
• Formal Dining Area• Updated Kitchen,Granite Counters
• 3 bedroom, 2.5 baths,1568 sq.ft.• Spacious Living Room with Fireplace
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.
GARY HERBERTBroker
CalBRE#00762521
Please Call For YourComplimentary
Home Market Evaluation!
3264 Clifton Court, Palo AltoMove right in and start living in this beautiful, light filled home, conveniently located on a tree lined
cul-de-sac near many amenities. Call for Price
Sold With 8 Offers
· Four nicely sized bedrooms, two baths, including master suite· Combined living and dining areas· Large kitchen with laundry area
· Attached 2 car garage· Approx. 1,530 s.f of living space on 7,495 s.f lot· Excellent Palo Alto schools: Palo Verde, JLS, Palo Alto High (buyer to verify)
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STUNNING BAY VIEWS WITH RESORT-LIKE ENTERTAINMENT GROUNDS
LIC# 01138400
650.218.4337
PROPERTY OVERVIEW4 bedrooms, 4 bathrooms plus library
Hardwood flooringApprox. 4,095 sq. ft.
Private 1.6 acre lot with gated entranceWrap around decks and elevated spa
Smart home wiringClose to Los Altos Village
Attached 3-car garage plus carport
SCHOOL OVERVIEWGardner Bullis Elementary (K-5)
Egan Intermediate (6-8)Los Altos High (9-12)
12101 OAK PARK COURT, LOS ALTOS HILLS
Go to URL below or scan the QR code for video tourhttps://youtu.be/awUEtWXw-4Y
OFFERED AT $4,398,000
To View the Video Tour, Additional Photos and/or Information on This Property, Please Visit:
www.12101OakParkCourt.com
(Buyer To Verify Enrollment Eligibility)
SCHOOL OVERVIEW
Gardner Bullis Elementary (K-5)
Egan Intermediate (6-8)
Los Altos High (9-12)
Offered at $4,398,000
GIVE YOUR HOME THE EXPOSURE IT DESERVES...
Local expertise with global reach
650.888.8268 408.218.7522
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.
License# 01452752
Daphne Chou & Alain Pinel Realtors
a brand name you can TRUST!
DAPHNE CHOU, Ph.D.
周靖芠博士
WeChat & Line ID: drdaphne
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Our clients don’t pay for their ad to be in HomeFolio magazine...
they pay for their ad to be in mailboxes. Over 46,000 of them.
Almost 60% of homes sold in our community, are purchased by people who already live here, and while most buyers will shop for their next home online, if your home doesn’t match their search criteria exactly, it won’t even appear in their search results. Our agents go the extra step to proactively introduce their listings to the largest pool of likely buyers directly through the mail.
Our exclusive “Online Research Method” identifies likely buyers for our area, and we mail directly to them. Our clients reach buyers, sellers, and generate leads other agents don’t. Call
Melissa for details on our unique direct mail strategy: 925-323-3475.
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DAW N T HOM A S
SI L IC ON VA L L E Y R E A L E S TAT E SPE C I A L I S T
(65 0) 701 782 2 T E A M@ SI L IC ON VA L L E YA N DBE YON D.C OM
AT H E RTON L O S A LTO S L O S A LTO S H I L L S M E N L O PA R K MOU N TA I N V I E W PA L O A LTO R E DWO OD C I T Y SU N N Y VA L E
2015MARKETREVIEW.COM
HOW DOES YOUR NEIGHBORHOOD COMPAR E?
D OW N L OA D T H I S AWA R D -W I N N I NG ,
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No property too big or too small! | CLOSED SALES FROM 25 MILLION TO UNDER 100 THOUSAND“COMING SOON” New Luxury Listings! Call for details and locations!
Peggy Cortez was ranked #13 in the nation by the Wall Street Journal, Real Trends,
and Lore Magazine out of more than 1 million agents nationwide. Lifetime
member of “Who’s Who in Real Estate”
2178 Las Trampas Alamo
Gorgeous custom exclusive Alamo Ridge gated estate. This one of a kind property situated on 8.54 spectacular acres in the beautiful Las Trampas Hills. Sweeping views, large yard with pool, spa, outdoor kitchen and an amazing sun deck to enjoy the sunrise and sunsets. This 4 bedroom, 3.5 bath estate offers privacy & serenity. Wander throughout the property walkways to enjoy nature’s beauty at its finest! Perfect to entertain on a grand scale!
Offered at $2,998,000
Cover Property
101 Lower Walden Road, Carmel
Offered at $10,000,000
Located in beautiful Carmel Highlands this gated single story estate offers breathtaking views of the ocean & Wildcat Cove. Walls of windows to enjoy the amazing sunrise & sunsets bring the outside in! This sprawling 5338+-sf home features 3 bedrooms, 3 full/2 half baths, den, office, 4 fireplaces, formal living & dining rooms, 2 kitchens, large family room, (complete with built-in- popcorn machine), slate roof and even a doggie bath in the laundry room & much more…
Offered at $7,800,000
Amazing gated estate. Breathtaking ocean view & fully remodeled in 2008. Featuring: 7239 sf, 6 bedrooms, 6.5 baths includes 931 sf fully contained guest house, “Green” stunning wine cellar, radiant heat, + whole house back up generator, electric car hook-up, Smart House Technology and pool/spa. Exquisite detail and designer touches throughout. Perfect for a family compound or corporate retreat!
29798 Highway 1, Carmel
This classic turn of the century ~3.5 acre Estate offers the ultimate in privacy with Western Hill and Bay views | Build your dream home or family compound on this beautiful property | Land may be subdivided, MDA 25,523 and MFA 13,303Two separate entrances one off Stonebrook and the other is off of Oneonta Drive | Convenient access to the freeway
650.941.4300195 S. San Antonio Road, Los Altos
Gary CampiOwner & Broker
CalBRE 00600311
www.campi.comLocal Expertise, Global Exposure
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Bay Area Real Estate Broker with an Exceptional Reputation
One-Of-A-Kind COuntry estAte, ClOse-in lOCAtiOnlOs AltOs Hills | www.stOneBrOOKdr.COm | PriCe uPOn request
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www.teamaliceandalicia.com
Alicia [email protected]#01127187
Alice Nuzzo650.504.0880
[email protected]#00458678
&Alicia AliceNUZZO
748 Nutmeg Avenue, Sunnyvale
1503 Fordham Court, Mountain View 1 W. Edith #B107 Avenue, Los Altos
48 Mansion Court, Menlo Park
912 Viewridge Drive, San Mateo
14975 Page Mill Road, Los Altos Hills 0 Santa Teresa Blvd, San Martin
21571 Regnart Road, Cupertino
540 Bayhill Road, Half Moon Bay
CERTIFIED RESIDENTIAL SPECIALIST CERTIFIED RESIDENTIAL BROKERS
RECENT SOLDS
A highly respected real estate professional, Boudreau has enjoyed a
long and successful career as a top-producing agent before moving into
the management ranks for several top Bay Area residential brokerages.
In his new position, he will oversee a talented sales team of more than
130 affiliated real estate professionals in the Los Altos office serving the
San Francisco Peninsula and the South Bay housing market.
“Greg is a highly respected and successful real estate professional with
over 25 years in the industry,” said Mike James, president of Coldwell
Banker Residential Brokerage. “In addition to his outstanding sales
career, his experience in management and leadership with Coldwell
Banker affiliates and brands such as Sotheby’s and Berkshire Hathaway
make him an excellent choice for to lead the Los Gatos office.
Boudreau said he is excited by the opportunity to manage the Los Altos
office. “We already have a great foundation to build on with this team
of outstanding sales associates,” he said. “My goal is to help all of our
agents achieve their personal goals, to deliver an even greater level of
service to home buyers and sellers, and to grow their business along
with our market share.”
His grandfather started a real estate business in 1959 with a simple
philosophy: “Don’t worry about the money; take care of your customers
and the money will follow,” he said. “That philosophy is already instilled
in Coldwell Banker’s agents, offices and culture. My job is just to improve
on that each and every day, and the rest will take care of itself.”
Greg most recently was the regional sales manager for Berkshire
Hathaway Home Services in the East Bay, where he oversaw three
branch offices and also served on company’s luxury council.
Prior to his time with Berkshire Hathaway, he served as vice president
and managing broker for Sotheby’s International Realty’s Danville and
Lafayette offices, overseeing a team of 80 sales associates. He has
also held sales and management positions with RE/MAX, Alain Pinel
Realtors, Century 21, and several Coldwell Banker affiliate firms over the
course of his career.
Boudreau can now be reached at Coldwell Banker Residential
Brokerage’s Los Altos office, located at 161 S San Antonio Road, by
phone at 650.941.7040 or via e-mail at [email protected].
Veteran Realtor®
GREG BOUDREAUnamed Manager
of COLDWELL BANKER Residential Brokerage in Los Altos
Coldwell Banker Residential Brokerage, the South Bay’s
leading real estate services company, announced that it has
named veteran Bay Area Realtor® Greg Boudreau manager of
the company’s award-winning Los Altos office.
For more information please visit www.ColdwellBankerHomes.com or call 925.771.5285CalBRE #01908304
161 South San Antonio Road | Los Altos, CA 94022P 650.947.2220 E [email protected]
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COLDWELL BANKER OFFICE NAME1855 Gateway Blvd., Ste. 750 | Concord, CA 94520 | 925.275.3000
ColdwellBankerHomes.com | californiahome.me | /cbcalifornia | /cb_california | /cbcalifornia | /coldwellbanker©2016 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Residential Brokerage Office is Owned by a
Subsidiary of NRT LLC. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor sales associates and are not employees of Coldwell Banker Real Estate LLC, Coldwell Banker Residential Brokerage or NRT LLC. CalBRE License #01908304.
INTERNATIONAL PRESIDENT’S ELITE
INTERNATIONAL PRESIDENT’S CIRCLE
INTERNATIONAL DIAMOND SOCIETY
INTERNATIONAL STERLING SOCIETY
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CONGRATULATIONS 2015 AWARDRECIPIENTS
COLDWELL BANKER OFFICE NAME1855 Gateway Blvd., Ste. 750 | Concord, CA 94520 | 925.275.3000
ColdwellBankerHomes.com | californiahome.me | /cbcalifornia | /cb_california | /cbcalifornia | /coldwellbanker©2016 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Coldwell Banker Residential Brokerage Office is Owned by a
Subsidiary of NRT LLC. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor sales associates and are not employees of Coldwell Banker Real Estate LLC, Coldwell Banker Residential Brokerage or NRT LLC. CalBRE License #01908304.
INTERNATIONAL PRESIDENT’S ELITE
INTERNATIONAL PRESIDENT’S CIRCLE
INTERNATIONAL DIAMOND SOCIETY
INTERNATIONAL STERLING SOCIETY
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Terri CoutureInternational
President’s Premier
Diyar EssaidInternational
President’s Premier
Shelly PotvinInternational
President’s Premier
Elizabeth ThompsonInternational
President’s Premier
Deniece SmithInternational
President’s Premier
Terrie MasudaInternational
President’s Premier
Jerry HaslamInternational
President’s Elite
Ric ParkerInternational
President’s Elite
Marcie SoderquistInternational
President’s Elite
Carole FeldsteinInternational
President’s Elite
Anni ChuInternational
President’s Elite
Team FishpawInternational
President’s Circle
Nancy Adele StuhrInternational
President’s Circle
Linda WangInternational
President’s Circle
Stella RoshInternational
President’s Circle
Ellen BartonInternational
President’s Circle
Vivi Chan NaumovskiInternational
President’s Circle
Alice ChakhmazovaInternational
President’s Circle
Jim GalliInternational
President’s Circle
Kim CopherInternational
President’s Elite
Linda TakagiInternational
President’s Circle
Greg Boudreau Manager
COLDWELL BANKER LOS ALTOS161 S. SAN ANTONIO ROAD, LOS ALTOS, CALIFORNIA 94022 | 650.491.1600
Thank you to all of the 130 Coldwell Banker Los AltosIndependent Sales Associates for helping make Coldwell Banker #1 in the
Bay Area* and a special congratulations to the office’s top producers.
*Based on information from Bay Area Real Estate Information Services, Inc., Bay East Association of REALTORS and Contra Costa Association of REALTORS, MLSListings Inc., San Francisco Association of REALTORS for the time period 1/1/15 to 12/31/15. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker
Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS’s may not reflect all real estate activity in the market. Owned and Operated by NRT LLC.
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David Weil, Realtor®650.823.3855 | [email protected] | License: 01400271
Expert Guidance with Seasoned Success• Proven Listing Approach• Effective Home Preparation - 2X ROI• Customized Marketing Plans • Strategic / Result Oriented Negotiation Skills• Start to Finish Full Service Approach• Ranking within the top 5% of Silicon Valley Realtors
For more information on how David Weil can fulfill your real estate needs, contact:
[email protected] or (650) 823-3855
David insisted that we needed to com- plete some work on the home to maxi- mize our sales price. Reluctantly, we made the improvements and I am now convinced we most definitely received a 2x return on that investment on our final sales price.
MITCH T. – REBALANCE IRA
David is a true professional who puts the needs of his clients first. His exper- tise, proactive attitude and patience proved invaluable to us in both the sell- ing of our condo and the purchasing of our home. We can’t recommend him enough.
JULIETTE P.
156 Stockbridge Avenue, Atherton650 Berkeley Avenue, Menlo Park
10 Valley Road, Atherton 662 Berkeley Avenue, Menlo Park
275 Verano Drive, Los Altos
115 Gloria Circle, Menlo Park
SOLDSOLD
SOLD SOLD SOLD
SOLD
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When it comes to interior trends, convenience is everything. From phone-controlled crock-pots to finger-compatible locks luxury homeowners are simplifying their lives with supreme technology. Smart systems, a rising trend in the mid-peninsula, have become a preference amongst high-end buyers.
Today’s automated systems allow homeowners to control nearly everything from lighting and pools to security and HVAC systems. Whether residents are on vacation across the globe, or in the comfort of their own home, these smart phone-compatible systems epitomize practical luxury.
BY KIMBERLY GOMES
SECURITY:Smart Systems
SMART HUBS Customizable automated systems allow users to dictate how, when, and why a device should react. These hubs often serve as an on-hand alert system, notifying residents about minor issues, like water leaks, that become headaches when left unattended. NuBryte, a relatively standard, yet affordable system, alerts residents of unexpected entrances and views possible intruders through a built-in camera. Insteon, another smart hub kit turns on lights upon entering a room, and even leaves messages on a home console to notify family members if you’re running late. While each system varies, the common thread is on-call detection, enhancing security and preventable repairs.
“Android based Control 4 or Apple-based Savant [offer] a person control of their lighting, climate, entertainment, and security from a single app and are desirable to buyers, but many homes do not offer them,” says John Forsyth James, Alain Pinel Realtor.
SMART CONSERVATIONHome automation also helps homeowners preserve water and energy via technology. Nest’s digital thermostats have become relatively standard throughout Bay Area homes.
These sleek devices significantly lower electricity, heating and cooling bills by setting thermostats from their phone, ensuring ideal temperatures upon arrival.
“A popular feature in homes today is the Nest thermostat–that is one item that many buyers are looking for,” says John.
Drought-conscious residents can utilize smart systems like WallyHome to pinpoint the origin of leaks. Sensors are attached to water-prone places like toilets, sinks, and faucets and send an alert to the main hub when excess drip occurs. It also indicates the temperature and humidity in these areas, helping residents stay one step ahead of unwanted mold.
EFFECT ON SALES PRICEIn a region that’s renowned for its tech-savvy occupants, certain smart systems influence market value. While home automation capabilities are constantly advancing, properties with top-tier smart systems can be appealing when it comes time to sell.
“I feel that systems like Lutron lighting, where a buyer can touch one button to turn all the lights on or off in a main area of the home, are desirable and buyers would pay more for a home that offers Lutron functionality,” says John.
Those who aren’t looking to invest in over the top hubs can also prewire the home for these smart systems, creating a smooth transition for prospective buyers interested in home automation.
Arthur [email protected]
www.SVLuxre.com
650.804.4770cALBre: 01481940
164 Pleasant Valley Road | Aptos Valley
This premiere country estate is nestled in a picturesque, pastoral valley in the Aptos hills. Situated on 80 pristine acres, this slice of paradise is the only equestrian estate of its kind in California. Just 5 minutes to the beach, 30 minutes from Carmel/Pebble Beach and Silicon Valley. The magnificent timber lodge style home and matching stable are designed by renowned East Coast architect, John Blackburn. Rustic elegance and gracious living are thoughtfully executed in the layout and amenities of this comfortable home. Custom Santa Fe doors invite you to a grand, yet inviting living room with 30 foot soaring ceilings, stunning wood beams, reclaimed wood flooring and a massive floor-to-ceiling Mountain River Rock fireplace. The family residence is sited at a expansive knoll top with commanding 360 degree views over rolling topography, private vineyards, orchards and surrounding luxury homes. The adjoining landscape offers a fenced backyard with grassy lawn, native landscaping and farm-to-table lifestyle with a bountiful vegetable garden, fruit orchard and chicken coop. The rolling west facing hills are perfect for a vineyard.
Live an inspired yet convenient daily life in a world far from ordinary living.
J U S T L I S T E D
STEVE PIERCE650 533 7006
[email protected] # 00871571
2016 FORECAST
PENINSULA RESIDENTIAL REAL ESTATE MARKET
ZANEMAC.COM
INTRODUCTION
The last twenty plus years have seen dramatic economic upheaval and equally dramatic recovery. Over this period, the housing market has likewise experienced volatility and, more recently, rapid increases to record high prices. Both confusion and uncertainty have accompanied this roller coaster ride. The following analysis is intended to look forward within the context of the recent past.
CONTEXT
The appreciation in San Mateo and Santa Clara counties was negative to slightly positive during the Great Recession recovery years of 2009 to 2011. In 2012, home price appreciation was strong, and in 2013 many areas saw appreciation in the 20% range due to pent-up demand and bullish buyers. Appreciation slackened in most cities in 2014 and 2015, but was above historic norms reflecting continued strong demand. (Refer to figure.) These price increases reflect strong demand and insufficient supply. The number of home sales has been trending down since 2007. This has not been for a lack of buyers, but rather a lack of supply.
MARKET INDICATORS
I have found that the best predictor of the local housing market is local job creation. Which in turn is effected by the global economy, venture capital funding, the stock market, and other factors.
Nationally the recovery from the 2008 meltdown has been sluggish. In contrast, the economy of the South Bay (Santa Clara and San Benito counties) and the San Francisco metro area (San Francisco, San Mateo, and Marin counties) has been one of the brightest spots in the U.S.
In 2015 job growth was 4.7% in both the San Francisco metro and the South Bay. Many forecasters, like the California Department of Finance, believe that the rate will decline in 2016 and thereafter. Likewise, Beacon Economics expects job growth in the South Bay to slow to an annual rate of 1.5% by the end of 2016 and to be between 1% and 2% through 2020 (The Regional Outlook, South Bay 2016).
Despite the generally upbeat projections for the Bay area economy, there are concerns posed by the Chinese economy, which is expected to slow further in 2016. As observed by Micah Weinberg, president of the Bay Area Council Economic Institute, “The prospects for the Bay Area economy are very strong, but they do not inoculate us from what is going on elsewhere”.
HOUSING MARKET FORECAST
The continued recovery of the national economy and the strong, although somewhat abated, growth of the local economy indicates that the fundamentals are in place for another year of high demand for housing. Further, mortgage interest rates remain at historic lows and are expected to move upward only modestly in 2016. Although the Peninsula housing market is a non-homogenous aggregation of unique micro-markets, in general expect 2016 to look much like 2014 and 2015: high demand and low inventory.
SUPPLY: The supply of homes available to purchase will continue its downward trend in most cities.
APPRECIATION: In 2016 prices will increase at a rate that exceeds the 20-year average. However, in most cities the rate will continue to decline as it seeks its long-term norm.
SPILLOVER: The price levels in the more expensive areas will continue to cause buyers to seek less expensive alternatives. This will further dampen appreciation in the more costly areas and will put more pressure on prices in the areas that are relatively less expensive.
THOUGHTS FOR BUYERS AND SELLERS
BUYERS: Home prices are at a point where even at historic appreciation theyare increasing by tens of thousands of dollars each month. Consequently, delays caused by a buyer’s lack of resolve or non-competitive offers will prove costly. A successful home purchase will be built on preparation and flexibility. You need to have done your homework and have everything in place to act quickly in a market where well priced homes are on the market for only a few days. With the lack of inventory, you should also be willing to make trade-offs.
SELLERS: Sellers, you are currently in the control position. At the correct price, many people will offer to purchase your property, and if properly prepared and marketed, you will garner the best possible price. Buyers are plentiful, often “hungry,” but rarely stupid. Overpriced homes will be passed over, and the prices of poorly presented homes will be discounted.
If you are seeking to time the market to maximize return, a sale in 2016 may be to your favor. However, current international events and the uncommonly long period of economic growth suggest that time poses down cycle risk.
For the full text and figures of this forecast, go to www.zanemac.com.
Second home, move up,move down, stay put?We do the math, you see your future.
2875 El Camino Real, Palo Alto, CA 94306 | 650.319.1600 | opesadvisors.com
Opes Advisors is licensed by the CA Department of Business Oversight under the California Residential Mortgage Lending Act, License #4150089, CA Bureau of Real Estate 01458652, loans will be made pursuant to the Residential Mortgage Lending Act, CO Registration Regulated by the Division of Real Estate, Idaho MBL8530, Montana Mortgage Lender License #235584, Oregon ML4902, Washington CL1178435, Wyoming #2667 and NMLS 235584. Equal Housing Opportunity Lender. Opes Advisors is a registered investment advisor with the Securities and Exchange Commission (SEC). © 2016 Opes Advisors, Inc. All Rights Reserved.
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