December 5, 2022

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We Do Fine Home

This Palo Alto home was listed for $4 million. Its sale price went even higher

The house:

479 Ferne Ave. in the Greendell neighborhood of Palo Alto

What makes it one of a kind:

This five-bedroom, four-and-a-50 percent-lavatory Eichler — just ways absent from the border separating Palo Alto from next-door Mountain Look at — has remodeled substantially considering that it offered in 1987 for $310,000. It really is been transformed to in good shape the stereotypical aesthetic of a potential homebuyer in Silicon Valley, with a large-tech kitchen area (and 12-foot waterfall island), electric powered shades, a bocce ball courtroom in the yard and a bioethanol-burning fireplace in the living place. The overall house — which also features flooring-to-ceiling windows — has clever-household functions all over (application-controlled methods, Sonos sound, residence stability, and extra). “It had an open, ethereal sensation,” stated Michael Repka, CEO of DeLeon Realty, the real-estate firm that represented equally the home’s sellers and customers. Repka said that a major attract for potential buyers was that the household was really substantially change-crucial, anything that has turn into even a lot more attractive for tech workers searching to obtain in Silicon Valley. But in a lot of techniques it really is Palo Alto as a notion that continues to maintain the market. Repka suggests he’s observing a lot of customers from San Francisco relocating to Palo Alto. Properties below generally offer within the to start with 7 days, and can go for anywhere from 15% to 40% in excess of inquiring selling price. This household was listed for just underneath $4 million, but even that determine did not seem to give people today pause, he said. When compared to everywhere else in the country, Repka explained, Silicon Valley’s costs do not make any sense. “Even so, the combo of way of life, educational facilities, work chances… it has just brought about all of us to suspend that logic.”