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Home Buying in Portola Valley : Real Estate Advice

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  • Local Info1
  • Home Buying3
  • Home Selling0
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Activity 3
Tue Jan 15, 2013
Stu Carson answered:
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"

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

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
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Wed May 26, 2010
Janie and John Barman answered:
Hi Tim,

I would be happy to give you as many details on Portola Valley as you'd like. I live in Ladera, which is unincorporated San Mateo County with PV address and I am very familiar with all of the areas. I don't think the answer below is especially accurate - or at least it is overly generalized.

To answer your question thorougly would take pages of text. Give me a call if you want. I will NOT try to make you a client of mine or follow up with nag emails or phone calls. You'll just get the facts.

And yes, I am a real estate agent.

John Barman
Coldwell Banker
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Thu Apr 8, 2010
Holder Real Estate Team answered:
Hi Bob.

My feeling is that some of the areas that have a history of established residencies, like Portola Valley, Woodside, and Atherton to name a few, have a much higher resiliency to price drops. We have seen this to be the case as home values in these areas have not dropped as much as in others.

Nevertheless, they cannot hold out forever. My feeling (just opinion) is that these areas will be the ones to see price drops over the next two or so years - unless there is a economic recovery/ substantial increase in a buyer's ability to leverage/afford to purchase these homes. The buyer pool for homes over $2 M has drastically shrunk due to lack of available financing options (a lot of lenders simply won't loan the money on affordable terms) - the spread between conventional loans and jumbo loans is still quite large.

Of course, no one has a crystal ball to tell either way. The only other factor to consider is, if you really want a home in Portola Valley, how long do you wait before making the jump. Family/life situations tend to be a big factor in making a decision to buy a home regardless of what the market's doing. That may explain part of the sales in the area.
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