Ellen Staffo…, Home Seller in 94027

How have values for larger (2000 square feet) townhomes and condos held up in Atherton and Menlo Park?

Asked by Ellen Stafford, 94027 Fri Aug 31, 2007

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Hi Ellen,
You can click on the following link http://tinyurl.com/2bwjc2 to see current condo listings with the square footage over 2000 sq. f. in Menlo Park. Their prices are from $1.225 M to $ 1.995 M. There are no listings in this category in Atherton at the present time. The values in this area are staying high due to the limited supply and increase demand coming from Silicon Valley. Good luck in your search (by the way keep checking your link as it will be updated automatically with new listings).
Web Reference: http://www.cimpler.com
0 votes Thank Flag Link Sat Sep 1, 2007
ARTUR URBANS…, Real Estate Pro in Burlingame, CA
MVP'08
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If you go to Redfin and search on sale records for the past year for 2000 condos/townhouses you'll see 14. Some sold at a loss, and others that avg 4-5% appreciation over the past 5-10 years.... if they bought a long time ago. I tried to run the search in trulia and it didn't work.

But the true test is days on market and sales. If you look at current listings you'll see about 11 available with an time on the MLS of 104 days... and that doesn't include the listings that were taken off and added back to reset the avg days. Now to look at sales you'll see 14 sold in the last year, so you're looking at about 1 buyer per month, who probably takes the best of the available inventory at the best value. The best priced ones sell, and the higher priced ones sit on the market.
0 votes Thank Flag Link Thu Oct 8, 2009
Neville, I suggest that you check the Tax Rate Area ("TRA") of the 3421 El Camino Real property. There's a difference between a TRA in a given city's limits and that of property located in the Unincorporated Area that Matt mentioned. Occasionally, a preliminary title report will be in error to the extent that it incorrectly refers to a city in the legal description. Some agents, indeed, even property owners, mistake a property's mailing address, which can be thought of being "located" within the city which delivers postal service, with their "situs" address, i.e, where the property is legally located.
0 votes Thank Flag Link Thu Jul 2, 2009
Thank you, this has been disclosed to the buyers, but all the owners in this townhouse development use the Atherton designation, so does the Property Profile, the Preliminary Title Report and all listings in our MLS for this complex.
0 votes Thank Flag Link Mon Feb 2, 2009
I have a listing that will be going on the market In February at 3421 El Camino Real for greater than 2000 sq feet. If you are interested in following the progress on this you can call me at 650-345-5626. Cheers
Neville
Prudential
0 votes Thank Flag Link Wed Jan 21, 2009
Ellen,
I am glad I could help. Thank you.
Web Reference: http://www.cimpler.com
0 votes Thank Flag Link Mon Sep 10, 2007
ARTUR URBANS…, Real Estate Pro in Burlingame, CA
MVP'08
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Most likely any 2000+ sf condo/TH in Menlo Park is going to be up in the Sharon Heights area, or off Sand Hill Rd, and are almost always well over $1M (with some as high as over $1.5M). The strong VC community in that area tends to buy and sell many of these places as they house senior executives for startups they're building, so the values have been holding up well. In Atherton, there's really not many condos/TH to speak of, and of those that do go for sale, they're right around El Camino Real and in the $700K+ range.
0 votes Thank Flag Link Mon Sep 3, 2007
Is there a specific complex or specific area that you would like to know more about Ellen? As you know, the values vary from complex to complex and area to area.
Web Reference: http://www.realpayam.com
0 votes Thank Flag Link Fri Aug 31, 2007
I have some more current information with Menlo Park that has more townhomes/condo's of the type that you mentioned. According to the MLS the average days on the market is 57 days in the past 6 months for these type of properties that sold. The current active listings have been on the market for an average of 32 days. It does seem that some properties that did sell in about two weeks before are not seeling as quickly, but that may be due to higher list prices of the current inventory (average list price being about 1.5 million versus average 1.3 million list price on sold properties).
Web Reference: http://www.realpayam.com
0 votes Thank Flag Link Fri Aug 31, 2007
Doing a quick MLS search a similar townhome in El Camino Real in Atherton sold in 2004 for $679,000 and for $775,000 in 2006.
Web Reference: http://www.realpayam.com
0 votes Thank Flag Link Fri Aug 31, 2007
There aren't as many 2000+ square feet townhomes/condo's in Atherton and thus less turnover. Both areas have held strong.
Web Reference: http://www.realpayam.com
0 votes Thank Flag Link Fri Aug 31, 2007
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