Newfamily, Home Buyer in Palo Alto, CA

Hello, I wanted to get the group's thoughts about the Portola Valley Ranch, e.g., quality of houses, resale value, possible cons etc.

Asked by Newfamily, Palo Alto, CA Tue Jan 15, 2013

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Great question! Everyone has an opinion, I like to examine the data.

Take a look at the Local Market Trends section of our website and click on the specific link for "Palo Alto Menlo Park Portola Valley" http://stucarson.com/LM-TrendsReports

In summary, Portola Valley Ranch (PVR) appears to have gained the same approximate $200/sq ft in value as homes in general in Portola Valley (PV) & Palo Alto (PA) have.

Homes in PVR have ranged from 8 days on market (DOM) to 50 DOM to sell, while home in over PV have ranged from 5 to 130, which is in stark contrast to Palo Alto/Menlo Park which has been from 5 to 30 DOM.

Lastly homes in PVR have been selling for 92% to 100% of asking price, where as overall PV has been 95% to 101%, and check out Palo Alto-Menlo Park at 104% to 109% over asking price.

I should also mention that the # of homes in the sample pool for PVR were and are very low since there are only 200 homes in the entire community and for example in the last year 3 sold and in the last 5 years 22.

If you like the idea of working with an agent that is smart, trustworthy & caring... call Davlyn or I, we'd love to add you to our list of satisfied clients, see here for our client testimonials http://www.trulia.com/voices/profile/Real_Estate_Pro-Los_Gat…

Let's have a fact based discussion regarding the great questions you've raised about resale value and other financial factors and balance those with the more subjective factors like a sense of community, quality of life, convenience and support of equestrian and other hobbies, etc...

Stu Carson 408-209-0849
Davlyn Giovanetti-Quick 408-461-1276
'
http://www.JustMyProperties.com
http://www.GetRealRealtor.com
0 votes Thank Flag Link Tue Jan 15, 2013
PV Ranch is a great area - and the homes are a good value for the Portola Valley area. Older homes my need some updating, but for the most case they are well built and are fairly easy to bring up to date. Sales are infrequent, and typically homes will sell quickly if priced appropriately. The community has a great pool, clubhouse and miles of trails both within and adjacent to the neighborhood.

Really the only potential downside is that you have limited design and landscaping options for the exterior of you home (although if you like the look of the community in general, that shouldn't be an issue.)

Hope that helps!

Chris
0 votes Thank Flag Link Tue Jan 15, 2013
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