Tue. Oct 3rd, 2023
This Palo Alto household was listed for $4 million. Its sale value went even better

Table of Contents

The house:

479 Ferne Ave. in the Greendell neighborhood of Palo Alto

What would make it special:

This 5-bedroom, four-and-a-50 %-toilet Eichler — just techniques away from the border separating Palo Alto from up coming-doorway Mountain Look at — has reworked substantially considering the fact that it bought in 1987 for $310,000. It’s been transformed to suit the stereotypical aesthetic of a future homebuyer in Silicon Valley, with a higher-tech kitchen (and 12-foot waterfall island), electrical shades, a bocce ball courtroom in the yard and a bioethanol-burning fireplace in the living area. The full house — which also boasts ground-to-ceiling home windows — has intelligent-property features all through (application-controlled techniques, Sonos sound, household security, and far more). “It experienced an open, airy feeling,” explained Michael Repka, CEO of DeLeon Realty, the real-estate organization that represented both equally the home’s sellers and potential buyers. Repka reported that a main attract for consumers was that the home was pretty substantially transform-critical, anything that has come to be even much more pleasing for tech staff hunting to purchase in Silicon Valley. But in several strategies it is Palo Alto as a thought that proceeds to sustain the market. Repka suggests he’s observing a whole lot of buyers from San Francisco relocating to Palo Alto. Residences listed here usually offer in the to start with week, and can go for wherever from 15% to 40% above asking price. This household was outlined for just underneath $4 million, but even that figure didn’t appear to be to give men and women pause, he stated. As opposed to anywhere else in the nation, Repka mentioned, Silicon Valley’s costs will not make any perception. “Having said that, the combo of lifestyle, educational institutions, work prospects… it has just caused all of us to suspend that logic.”

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