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Palo Alto’s New Homes, August 30

Iiiiiiiiiit’s back! Your new home reviews are back as of this week. I’ve been on vacation and thus the new home write ups have suffered. All is now well and you can expect to see these reports each week.

This week has been slow, which I expected due to the holiday on Monday. Expect to see an onslaught of homes hitting the market starting next week and continuing until late October. We’re officially in the second part of the selling season!

See below for this week’s new homes:

OFF MARKET – Barron Park | 1,500 SF House | 11,250 SF Lot | Guest House | $2,195,000. Lightly remodeled home on one of the nicest streets in Barron Park. A larger lot size on this property means that there is some space to expand. The home is mostly older, but appears to be in reasonable shape. The home also includes a small but usable guest house.

101 Alma Street #207 – 3 Bedrooms | 2.5 Bathrooms | 1,855 SF Unit | $1,072 per Month HOA | $1,199,000. Nicely remodeled corner unit on the second floor of this larger building. Although I am not a big fan of this development because of the interior layout and extremely high HOA Dues, this particular unit was quite nice. The three bedroom units in this building are quite large, and this unit’s remodel made the spaces feel bright and open. If you’re looking for a downtown location and don’t mind the building’s apartment-like feel or high HOA dues, this unit is a winner.

252 Colorado Boulevard – 5 Bedrooms | 3.5 Bathrooms | 2,879 SF House | 8,470 SF Lot | $2,695,000. Large residence in Midtown. This newer build has fantastic curb appeal and tons of nice interior spaces. Although the property is located on a busy street with arterial roads nearby (Alma, El Camino and Oregon Expressway), the residence is quiet inside. The floor plan is not as open as many modern houses, but there is ample space to entertain. I loved the vaulted ceilings on the second floor, and I liked that the bathroom was nicely sized, but not over the top like in many homes.

428 Alder Lane – 4 Bedrooms | 3.5 Bathrooms | 2,873 SF Unit | $328 per Month HOA | $2,200,000. One of the larger residences in the Arbor Real complex. This particular town home has a nice, big first floor with a lot of clean and large spaces. The floor plan felt a little disjointed to me, but altogether it’s not too bad. The second floor is well built but felt bland. The spaces are decently proportioned, but the layout reminded me of a cookie cutter design. The second master suite was a nice touch, but given the layout and size, the price feels a little big to me.

How Will Rising Interest Rates Affect the Housing Market?

This is the topic that’s on everyone’s mind right now.

For the past year, mortgage interest rates have been at crazy, historic lows: http://www.freddiemac.com/pmms/pmms30.htm

Those rates, combined with the robust local economy, have sent buyer demand sky-high and housing prices soaring. The spring market was a frenzy of multiple offers, often far over listing prices.

Then at the end of June, the market threw us a curveball. The average 30-year fixed mortgage rate jumped from 3.93% to 4.46%–the largest weekly increase since April 1987. While rates are still historically low, this surge was a jolt for buyers sweating the spreadsheets trying to decide exactly how much house they can afford. The rise in rates will change the equation for some homebuyers.

For buyers who are stretching their budgets, rate changes can have a big impact. I predict that the $1.8-$2.5 million market will be the hardest hit because these buyers tend to be doing the most leveraging. Below that the effects on the monthly payments are not as great, and above that buyers are coming into the deal with more cash and are less dependent on loans.

So what does this all mean?

The basic economics are that as interest rates rise, buying power decreases and the buyer pool for houses decreases as home prices increase. In our hyper-local market with so many cash and international buyers, it remains to be seen if small increases in interest rates will have a substantial effect. Still, in this volatile market, there are likely to be fewer multiple offers on properties and more loan contingencies.

Advice to Sellers: If you’ve been on the fence about putting your house on the market, do it now, while interest rates are still low. If interest rates continue to rise, it will negatively affect the marketability and price of your house. Also, when you put your house on the market make sure that it is well prepared and makes a great first impression. You might not get a second chance.

Palo Alto’s New Homes, August 2

And just like that, August is upon us. This is likely to be the last big week of inventory until September comes rolling around. This week we saw a lot of property starting to come out for sale in South Palo Alto, along with a wonderful property in Professorville and some great newer construction in Midtown. See below for this week’s new homes:

3238 Waverley Street – 6 Bedrooms | 4 Bathrooms | 3,737 SF House | 6,250 SF Lot | $3,198,000. Newer construction in Midtown. The floor plan on this home is really well suited for a large family. Happily, I found the design on this newer construction to be nicely laid out rather than cramped in certain areas. The living room has a really nice feel to it, and the kitchen is top notch. My only complaint, which is impossible to fix, is that the house feels extremely large for its lot size.

1560 Mariposa Avenue – 3 Bedrooms | 2 Bathrooms | 1,900 SF House | 6,000 SF Lot | $2,180,000. Charming home in Southgate. I love this neighborhood, as all the houses seem to have their own bit of character. This home is no different. Although on the smaller side, this home has a reasonably large lot for this particular neighborhood. The surfaces could all use some modernizing, and the kitchen felt cramped to me. One thing to keep in mind with this neighborhood is that there is definitely noticeable noise from the train, and some noise from Alma does get through.

3949 Park Boulevard – 3 Bedrooms | 1 Bathroom | 1,228 SF House | 6,678 SF Lot | $928,000. Older home with an Eichler-esque feel to it. Park Boulevard is an interesting street because sections of it are not so nice, and other parts are wonderful. This particular section of Park Boulevard is the nicer part. The home itself has some obvious work to do, from removing the wood paneling which prevails in the property to re-landscaping certain spots. The biggest drawback of this home is the family room which is obviously a conversion. Since the living room is quite large, that room feels unnecessary and detracts from the open but cozy feel of the home.

3553 Alma Village Circle – 3 Bedrooms | 2.5 Bathrooms | 1,754 SF Unit | $245 per Month HOA | $1,798,880. This townhouse feels like a home. I liked the layout on this new construction, but the complex itself is somewhat of a cramped complex. The layout on this unit flows well, but the unit feels very basic in the way its spread out. The upstairs bedrooms are sized fairly well, but the third bedroom could have been larger. Buying one of these units is somewhat of a gamble given how press the units have received during their construction.

125 Hawthorne Avenue – 2 Bedrooms | 1 Bathroom | 1,306 SF House | 5,340 SF Lot | $2,000,000. Older, but well updated home in the Downtown North neighborhood. Although the home is definitely livable, the real money in this property is in the zoning. I would check to see if there is a historical rating on this home with the city and then look to develop the property. The lot is on the smaller side at 5,340 SF. The home itself appears to be well maintained, but at 77 years old, make sure to pick at the disclosures.

4211 Rickeys Way #A – 3 Bedrooms | 2.5 Bathrooms | 2,214 SF Unit | $299 per Month HOA | $1,548,000. I really like the way this complex was built, and think these units are wonderful. This particular unit is one of the larger floor plans in the complex at 3 bedrooms, and the location within the complex is solid. The first floor feels a bit small in the living room, but the kitchen is well set up and flows well. The upstairs bedrooms are not bad, but the bathrooms are on the smaller side. The HOA on this complex is, from my last recollection, a strong plus. The pricing feels big to me, but given the size, it will be interesting to see where it sells.

2577 Louis Road – 2 Bedrooms | 1 Bathroom | 1,162 SF House | 10,783 SF Lot | $1,798,000. Palo Alto’s funkiest kitchen in a nice starter home. One of the obvious draws to this property is the lot size, but the home itself has its own charm. As an expansion project, it would be a good option. Most of the home is fairly dark, and given the age of the home, it might be an interesting project to update the wiring. For a smaller home, the layout is well thought out to maximize the family room and bedrooms. Unfortunately, the kitchen space and bathroom space suffer for it. This home will be a nice purchase for someone looking to expand an older home, or build new.

850 Loma Verde Avenue – 3 Bedrooms | 2 Bathrooms | 1,561 SF House | 6,019 SF Lot | $1,425,000. This home would be a great option for a young couple looking to entertain groups. The layout of the home is not bad, but feels disjointed in several places. The big sell on this property is that the backyard is sizable given the orientation of the home on the lot. The remodel on this home was pretty quickly done, but all the right things were updated. Pick it up soon and you’ll still have time to barbecue for Labor Day!

251 Lincoln Avenue – 5 Bedrooms | 2.5 Bathrooms | 3,400 SF House | 7,880 SF Lot | $3,800,000. Very neat, older home in Professorville, one of Palo Alto’s premier neighborhoods. I absolutely loved this home. The home could use some contemporary updates, but for the most part, I like that the remodeling did not diverge too far from the home’s older feel. The bedrooms in this home are all well sized, and although there aren’t many bathrooms in this home for the number of bedrooms, the are unique. The lot size on this home is also larger, so there is ample space in the backyard (but it could be landscaped differently). If you’re in the market for a larger home in Professorville, I would jump on this because it won’t last long.

3198 Fallen Leaf Street – 4 Bedrooms | 4 Bathrooms | 2,340 SF Unit | $131 per Month HOA | $1,385,000. If you don’t mind stairs and some freeway noise, this unit is fantastic. It’s well sized and designed to maximize open spaces while embracing a modern feel. Young professionals will find this home an excellent option. Given the number of bedrooms, the space is also flexible and could work for a family. My only real complaint is the kitchen layout, which feels somewhat jarring given how it’s placed in the unit. I would have opened it up a bit more so that the flow would improve.

937 Ilima Way – 4 Bedrooms | 2 Bathrooms | 1,850 SF House | 6,038 SF Lot | $1,785,000. Well updated rancher home on one of Barron Park’s premier streets. Personally, this is my favorite street in Barron Park. this tree-lined street is a wonderfully friendly and charming section of the neighborhood. This particular home is well updated, and they did a nice job updating the kitchen so that you can look out the front window. The bedrooms are fairly small on this home, but they work. Although the countertops have been updated, more work will likely be done to update the bathrooms and flooring in some areas. This home will make someone a wonderful family home.

424 Homer Avenue – 5 Bedrooms | 3 Bathrooms | 2,200 SF House | 3,920 SF Lot | $2,875,000. I’m often asked how it is possible to charge so much for a home of this size. Think about it this way: if you were to live across the street at the Woodmark, you’d be paying a similar amount for a similarly sized condo, and also paying almost $800 per month in HOA Dues. With that in mind, this particular home is well sized and has a ton of bedrooms. The main problem is that most of the living spaces feel small. This is likely because the main priority seems to be adding bedrooms rather than open spaces. This home is currently being used as a duplex, but would be very easy to convert back to a single family home.

715 Charleston Court – 6 Bedrooms | 2.5 Bathrooms | 2,830 SF House | 8,918 SF Lot | $2,198,000. Nicely sized home and lot in South Palo Alto. For a larger family, look no further. This home has room to spare and the sixth bedroom is an anomaly. I really liked the layout and the backyard’s configuration. The way the pool is set up makes it a benefit for entertaining groups. The location is nice, although there is a lot of commercial use properties nearby. I especially liked the kitchen set up, which was obviously designed with family meals and watching children in mind. Altogether a great property for a larger family.

Palo Alto’s New Homes, July 26

With August coming, fewer properties hit the market this week than in previous weeks. This is not unusual, as the real estate market usually has a decline in inventory up until September. For the next month, expect to see fewer properties hit the market. This is due to the fact that many families are in transition this month, as they go on one last vacation or prepare for the upcoming school year. Nonetheless, we had a few new properties this week. See below for this week’s new homes;

2680 Waverley Street – 3 Bedrooms | 2 Bathrooms | 1,517 SF House | 8,308 SF Lot | $1,798,000. A nice property to remodel or build new. Some of the features of the home have been well updated (namely the appliances), but many of the features are outdated. The bathrooms felt small, and the third bedroom felt more like an office than a bedroom. The floor plan has a decent flow to it. Given the lot size, I think the buyer for this home will probably expand. The driveway is very long and that space could cover up some of the floorplan’s eccentricities if it were built out.

298 E Charleston Road – 3 Bedrooms | 2 Bathrooms | 1,295 SF House | 7,200 SF Lot | $1,399,000. Standard 3 bedroom, two bathroom Eichler configuration. Since the floorplan is standard, I’ll focus more on the details. The remodel seemed fairly cursory. The main features of the home, like the kitchen countertops and appliances were not updated, but smaller items like the paint was new. Staging aside, the home has not seen much work. The main selling point for this home is the lot size, but given the size of the home (I’m not counting the bonus room in the garage, but rather the assessor’s square footage), the price feels big to me.

2456 Indian Drive – 3 Bedrooms | 2 Bathrooms | 1,400 SF House | 6,000 SF Lot | $1,198,000. Clean and bright Mackay home in South Palo Alto. Similar to Eichlers in that the home has large windows and lots of light, Mackay homes are interesting properties. This particular home has not seen many updates since its construction in 1954. Located close to Oregon Expressway, the street noise was definitely noticeable. The bedrooms are well sized, and the bathrooms were not as claustrophobic as Eichler bathrooms tend to be. With this style of home, a careful read through the disclosures is especially important.

953 Roble Ridge Road – 5 Bedrooms | 3.5 Bathrooms | 5,538 SF House | 71,441 SF Lot | $8,200,000. Quite an estate in Barron Park. On well over an acre, this enormous Palo Alto home is a very neat house to see. The drive up Roble Ridge is an interesting experience, but the home itself looks great. Matadero Creek separates sections of the properties, so the building potential, and backyard spaces are somewhat limited for the total lot size. There are some older details to the home which could be updated, and at times the floor plan felt like it was meandering from one section to another. Nonetheless, for a large family home, this is an impressive property.

4013 Amaranta Avenue – 3 Bedrooms | 2.5 Bathrooms | 1,687 SF House | 7,910 SF Lot | $1,798,000. This home shows the power of new paint and staging. Although the home needs updating throughout, it looks livable due to the excellent staging. The backyard is sizable and inviting. The living room was very spacious, and the bedrooms weren’t small, which is a nice change from most of this week’s tour. Of this week’s properties, I would say that this would be the best purchase.

Palo Alto’s New Homes, July 19

It’s officially tear down special week for North Palo Alto. More than 20% of the homes this week were tear down properties in Palo Alto. Given that we’re nearing the August lull in new properties, expect things to slow down after next week. As for this week, there are a few good purchase options. See below for this week’s new homes:

1525 El Camino Real – 2 Bedrooms | 2 Bathrooms | 1,458 SF House | 5,250 SF Lot | $1,279,000. Nicely sized and surprisingly tucked away home in Southgate. I couldn’t believe how tucked away this home was for being located on El Camino. Another big surprise of this home was the how well sized it is. Although it only has two bedrooms, they are both very well sized. The layout is also generous and makes the property feel like a bigger home than it is. The major downside to this home is the lot size. The backyard is all decking and garage, which is a bummer. The house itself would make a nice starter home for a young family.

1486 Dana Avenue – 3 Bedrooms | 2 Bathrooms | 1,782 SF House | 11,160 SF Lot | $3,198,000. Tear-down property. This property displays the power of photography for making homes look good. Take a look and you’ll see what I mean. Not an altogether bad option if you’re looking to build, as the location/lot are both solid.

561 Lytton Avenue – 3 Bedrooms | 3 Bathrooms | 1,425 SF Unit | $97 per Month HOA | $1,735,000. Nice unit with a very modern look/feel. I liked that the property was able to fit three bedrooms and three bathrooms so close to downtown, and with dues that low, I’m sure this property will be popular. I did not like the layout of the master bedroom or other two bedrooms. The shape of the lot for these units made the bedrooms feel small and narrow. The downstairs is well set up, and the unit feels very trendy. I would have preferred a wider unit, as this unit and 563 Lytton both felt cramped at times.

563 Lytton Avenue – 3 Bedrooms | 3.5 Bathrooms | 1,425 SF Unit | $97 per Month HOA | $1,735,000. See 561 Lytton review.

4050 Verdosa Drive – 3 Bedrooms | 1 Bathroom | 1,132 SF House | 6,930 SF Lot | $1,199,000. What, another tear down? Yes, it’s true. This home could definitely be expanded for a new buyer, but it’s being priced and set up as a tear down house. There is a lot of land on this particular property, so there is the potential to build something very nice. Given how far back on Verdosa this property is, the price makes it an enticing option.

3657 Bryant Street – 3 Bedrooms | 2 Bathrooms | 1,755 SF House | 6,111 SF Lot | $1,495,000. One of several lot value homes this week. Fortunately, this one was cleaner than the others. You could remodel this Eichler home, but given that it’s been expanded, I would honestly tear down and build new.

3150 Greer Road – 3 Bedrooms | 2 Bathrooms | 1,458 SF House | 6,000 SF Lot | $1,399,000. Good family home on Greer Road. Yes, the home is on Greer and gets some road noise. However, the home itself is well suited for a small family. Proportionately sized rooms and living spaces are a big plus to this home. I liked the layout of this particular property, and the way the bedrooms are situated works really well for a family with young children. The remodel work on this home was well done (one of the best remodels from a home on tour). The backyard was the highlight of this home. There are some nice concrete spaces which would be nice for entertaining, but enough green space to make the backyard feel private and peaceful.

277 Bryant Street – 2 Bedrooms | 2.5 Bathrooms | 1,320 SF Unit | $484 per Month HOA | $995,000. After seeing the photos online, I couldn’t wait to tour this property. Perhaps my expectations were too high, but the property didn’t quite live up to the photos. The big positives to this unit are that the unit is located downtown, has some nice open spaces, and has been updated to feel modern. With that said, the kitchen needs new countertops and the laminate floors have a few bends in them already. The basement is a really neat feature of this unit, but the washer/dryer are there, which means carrying laundry up two floors. If you’re looking to live downtown and want a starter unit, this would be a fairly good choice. Expect it to sell for around $1.1M or slightly over that.

383 Maclane Street – 3 Bedrooms | 1 Bathroom | 1,050 SF House | 5,600 SF Lot | $1,188,000. Starter home on the edge of the Ventura Neighborhood. You can’t really go wrong with this home if you’re looking to buy your first property in Palo Alto. Although the home and lot are small, the three bedrooms and solid schools make it a nice option to start a family. Unfortunately, the layout on this particular home felt fairly disjointed for me, and the kitchen felt small and dining area was, well, claustrophobic. The upgrades throughout the home are a nice touch, and if you can overlook the small spaces, this could be a good purchase.

789 Encina Grande Drive – 5 Bedrooms | 3 Bathrooms | 2,691 SF House | 7,590 SF Lot | $2,438,000. Larger family home on one of Green Acres’ best streets. I love this particular street. Some call this section Barron Park (incorrectly) because there are no sidewalks. Debate aside, this particular home has some nice features. I liked the sizing of the bedrooms and the open feel to the kitchen. I would consider a remodel to most of the surfaces in the home, namely countertops, cabinets, and reworking the bathrooms (one more bathroom in this home would be a big value add). I loved the backyard, and with the larger lot on this property made the open spaces feel impressive. A really nice family home, in a solid family neighborhood.

440 Cesano Court #311 – 1 Bedroom | 1 Bathroom | 1,103 SF Unit | $445 per Month HOA | $549,000. What a difference living a bit further south in Palo Alto makes when looking at condos. This particular unit is a light remodel away from being something special. Although only a 1 bedroom, this unit has lots of space and a killer living room. I liked the set up the bedroom, and there is ample space for an office. Altogether, this home will make a fantastic purchase for a young individual or older couple.

455 Oregon Avenue – 3 Bedrooms | 2 Bathrooms | 1,851 SF House | 7,150 SF Lot | $1,895,000. In my opinion, this home was the best of tour for today. Although the home is located near Oregon Expressway and does get a fair amount of street noise, the layout of the home and serene feel given off by the front landscaping make the home feel welcoming. Inside, the layout flows fairly well with a nice sitting area, dining room, and separate kitchen. The bedrooms are well sized, and the backyard feels very private. There is some potential to remodel, but the home is definitely turn-key. Located in Old Palo Alto, this home will make someone an excellent first home or family home.

365 Forest Avenue #3B – 3 Bedrooms | 2 Bathrooms | 1,695 SF Unit | $525 per Month HOA | $1,299,000. Neat complex with large, single level condominiums. This particular unit follows a similar floor plan to the others in the complex which means two oversized bedrooms, a smaller bedroom, and well sized living spaces. I liked the remodel work with this particular unit. The upgraded kitchen and well updated bathrooms make this unit a great choice for an individual or couple looking for downtown living and some elbow room.

1210 Newell Road – 3 Bedrooms | 1.5 Bathrooms | 1,176 SF House | 9,555 SF Lot | $1,998,000. It doesn’t seem that way from the initial photo, but this house is a major tear down. I’d wear gloves inside. Take a good look at the lot. It’s large but longest around Newell Road rather than Parkinson Avenue. This would mean a home would mostly be facing Newell, the busier street. Be careful walking in the backyard if you have flip flops on; I found a lot of nails, a sledgehammer, and a few pieces of broken glass.

Palo Alto’s New Homes, July 12

After a week off for the 4th of July, the Palo Alto’s tour sheet provided quite a few new properties. Most of the properties this week happened to be spanish style homes, so you’ll be seeing a lot of terra cotta roofs and tile floors. See below for this week’s new homes:

765 Frenchmans Road – 6 Bedroom | 3.5 Bathrooms | 3,480 SF House | 47,166 SF Lot | $2,725,000. AVAILABLE TO STANFORD FACULTY AND STAFF ONLY. Older home in need of some remodeling. The home presents itself well, but definitely needs a remodel. Feeling more like a large cabin than a modern home, this property also features a nice guest house. There is a lot of usable land on the property, but this home will be a reasonable project for someone who has some time on their hands. Double check the new purchasing rules with Stanford to make sure you qualify.

1127 High Street – 4 Bedrooms | 2.5 Bathrooms | 2,890 SF House | 8,000 SF Lot | $2,648,000. Recently remodeled home in the Professorville neighborhood. I liked the layout of this property. Although there are not a ton of open spaces in the home, the flow from room to room is well thought out. The bedrooms are also a nice size. I would have liked one more bathroom in this house, and the one car garage is not ideal. Given the proximity to Alma and Embarcadero, expect some road noise.

1550 Middlefield Road – 5 Bedrooms | 3 Bathrooms | 2,827 SF House | 7,280 SF Lot | $1,998,000. Older home on a large lot. The home appears to have had a quick update with granite countertops in the kitchen, but the rest of the home seems to be well maintained, original condition. I would have liked to see a bigger backyard on this property. It is likely that the owner will also need to do some larger updates to the home. Although one could move in and be fine in this property, most of the fixtures need updating. Also, the proximity to Embarcadero and location on Middlefield means that there will be significant road noise, as that intersection gets lots of traffic.

1323 Hopkins Avenue – 4 Bedrooms | 3 Bathrooms | 2,087 SF House | 6,975 SF Lot | $1,995,000. Remodeled, but small feeling home near Rinconada Park. I thought the photos of this property did not do it justice. The spaces, although very square and often small feeling, provide the home with plenty of space for a growing family. The lot itself is on the larger side, allowing for a reasonable backyard. I did think that the house felt a bit sprawling at times, since the rooms are fairly small. I really liked the location of this home, and think it would make an excellent family home.

737 Center Drive – 4 Bedrooms | 3.5 Bathrooms | 3,370 SF House | 6,300 SF Lot | $3,500,000. I definitely was not expecting this home to be so vibrant on the inside. Tucked away from the street, this home has undergone a pretty loud and modern remodel as of recent. I thought that some of the touches were a bit much, and some more standard paint colors would have helped the home’s presentation. If you look past that, you’ll find that the first floor is nice and spacious, with some rooms that feel angular. The upstairs is nice, but nothing dramatic. I liked the guest suite, and although I thought the master bathroom was well done, I wouldn’t call it “award winning”. The home is located on the end of T intersection, so that may affect the overall sale price.

419 Palm Street – 2 Bedrooms | 3 Bathrooms | 1,496 SF House | 14,102 SF Lot | $1,595,000. Neat family home off of University Avenue. If you can get past University Avenue nearby, this home is very cool. The home itself is nice, but could use light remodeling. The stairway to the second floor is a bit precarious, but could work for a younger couple. I really liked the backyard feel, and the separate cottage seemed like a neat escape for Palo Alto. Altogether, this was my favorite home from tour.

500 Fulton Street #204 – 2 Bedrooms | 1.5 Bathrooms | 1,100 SF Unit | $500 per Month HOA | $950,000. Large and mostly original unit near University. The layout on this particular unit is nice. I liked the large living room and reasonable dining area. I wish the kitchen were a bit larger. Given the size of the unit, a lot of attention was paid to making the bedrooms as large as necessary, but not extravagant. Some remodeling work will likely be done to the countertops and bathroom. As always, check with the HOA about remodel work. Lastly, the dues seem fair for the size of unit, location and development size.

778 University Avenue – 2 Bedrooms | 2 Bathrooms | 1,258 SF Unit | $442 per Month HOA | $849,000. Small/medium sized complex on University avenue. This particular unit is larger than the one on Fulton, but the exchange is a slightly higher amount of noise. Strangely enough, the bathrooms have seen some minor remodeling, but the kitchens need a remodel. The unit is large, but does not feel quite as spacious as Fulton. The hardwood floors are a nice touch, and the location is also very nice. Between Fulton and University, I would pick University.

3370 Park Boulevard – 4 Bedrooms | 2.5 Bathrooms | 1,870 SF House | 5,684 SF Lot | $1,780,000. Essentially a new home in the Ventura neighborhood on Park Boulevard. New construction like this is always popular, and the layout/feel of this home are definitely well thought out. The 3rd and 4th bedrooms felt small to me, and I would have liked an additional bathroom on the house. The kitchen is stunning. This will be an interesting property to watch, as the list price is really tough to swallow for the lot size, proximity to the tracks, and Ventura neighborhood.

4044 Park Boulevard – 3 Bedrooms | 1 Bathroom | 1,050 SF House | 5,250 SF Lot | $950,000. Starter house on Park Boulevard in the nicer section of the neighborhood. The home and lot size are small, but this section of Ventura is quaint. Although some light remodeling has been done, expect to do some more to this home. The flow of the home is fairly standard to these older homes in that there is a decent living area/kitchen, smaller bedrooms, and one bathroom at the end of the hallways. Given the price of the property, expect it to move quickly.

3481 South Court – 4 Bedrooms | 3 Bathrooms | 2,377 SF House | 6,250 SF Lot | $2,398,000. Very well remodeled home in Midtown. It’s easy to see that the home has a lot going for it when you walk in. High end flooring, a well set-up kitchen and some excellent open spaces when you first walk in make the home a winner. The only points against the home are the bathrooms, which felt fairly small, and some small areas of dead space on the first floor. The backyard has a nice feel to it, and although not traditional, its layout is great for entertaining.

4248 Noble Street – 4 Bedrooms | 3.5 Bathrooms | 2,368 SF House | $202 per Month HOA | $1,695,000. Recently built, these town homes feel more like separate houses than town homes. Given the age of the unit, the interior spaces are well set up to keep a fair amount of open spaces. One thing to note is the amount of stairs in this unit. It will keep you in shape, but is not ideal for an older family or family with small children. Other than that, this unit has a lot to offer, is spacious, and is located in a nice area.

178 Ely Place – 4 Bedrooms | 2 Bathrooms | 1,878 SF House | 8,000 SF Lot | $1,678,000. Rancher style home south of Charleston. In a neighborhood with many Eichlers, this home stands apart. Priced to move and mostly original condition, the layout of this home feels standard for Ranchers. One positive is that these homes have large living rooms and a nice dining area. This kitchen on this property felt small, even with the updating. I liked the master bedroom, but the 4th bedroom felt small as well. The large lot makes for a nice backyard.

759 Gailen Avenue – 4 Bedrooms | 2 Bathrooms | 1,780 SF House | 8,400 SF Lot | $1,450,000. Lightly remodeled Eichler home in Charleston Terrace. New paint, kitchen, flooring and some track lighting give this home a modern feel at first glance, but the outdated bathrooms and backyard provide a counter to the remodel. I would have liked to see the bathrooms remodeled since the rest was done. Anyhow, the floor plan is the same as other Eichlers with the master suite and small hallway bathroom between the bedrooms. The kitchen has been opened up, which is a common (and smart) remodel choice. The backyard needs some help, but altogether this is a nice property for a starter home.

3116 Morris Drive – 3 Bedrooms | 2 Bathrooms | 1,598 SF House | 7,722 SF Lot | $1,275,000. There’s a good chance this home will be picked up by a builder or family looking to build. The home is in mostly original condition, and given the size of the lot, a lot could be done here. The interior spaces could be remodeled, but the best use for this home is to tear it down and build new.

611 Barron Avenue – 3 Bedrooms | 1 Bathroom | 1,040 SF House | 5,350 SF Lot | $1,198,000. Lightly remodeled starter home in Barron Park. The layout makes the most of the 3 bedroom floor plan. This home felt a lot like 4044 Park Boulevard, but in a nicer neighborhood and with more remodeling. Although the lot is small, the positioning of the home on the lot made for a nice backyard and spacious feel to the outside. A great starter home, this property has all the upgrades you’d need to feel comfortable while still allowing for some remodeling.

631 Georgia Avenue – 3 Bedrooms | 2 Bathrooms | 2,204 SF House | 10,080 SF Lot | $1,899,000. If you don’t mind a hefty remodel, this could be a great purchase option. The large, pie shaped lot has a heft backyard. The home could use another bedroom and bathroom. There’s a fair amount of seemingly wasted space on the first floor for sitting rooms, but there is potential. With the right designed and some spending money for a remodel, this home could be something special.

Palo Alto’s New Homes, June 28

In anticipation for the 4th of July, I think many sellers held back this week. Expect more of the same next week. After that I think we’ll see a nice push with more inventory. See below for this week’s new homes:

858 Lathrop Drive – 4 Bedrooms | 2.5 Bathrooms | 3,146 SF House | 18,960 SF Lot | $2,389,000. ELIGIBLE STANFORD FACULTY & STAFF ONLY. A very neat, angular house with lots of space. I liked that the home has seen some updating, as many of the Stanford homes need work. Although the kitchen update gets the home modernized, the countertops make the room appear dark. The bedrooms are well sized, but I think having a bedroom that close to the communal areas was a strange move. The library is neat. I should also mention that the view from the back deck is nice, but not over the top.

1527 Castilleja Avenue – 2 Bedrooms | 1 Bathroom | 1,189 SF House | 6,000 SF Lot | $1,200,000. Priced at lot value. These cottages are ripe for a tear down project, and this home’s standard sized lot make it a nice choice to build on. The interior is not in terrible shape and the layout works, but the size makes the home feel cramped at times. Either plan to heavily remodel and add on, or build new.

3206 Waverley Street – 5 Bedrooms | 3 Bathrooms | 2,640 SF House | 6,300 SF Lot | $2,498,000. Large, fairly new home in Midtown. Expect this home to sell well over the listing price. The layout is familiar to those who have seen new construction in the area. Big spaces, a spiral staircase, and a big backyard are the main features of this home. The kitchen has a nice open feel to it and the way it’s set up makes it feel bigger than it is. The crown molding throughout is a nice touch. The master bathroom was underwhelming to me, as it has a sharp feel and a smaller corner shower. Altogether, this home is a fantastic option for a large family who likes to entertain.

3127 David Avenue – 2 Bedrooms | 2 Bathrooms | 1,389 SF House | 6,656 SF Lot | $1,525,000. Eichler-esque Mackay home in south Palo Alto. This home will need some work. The kitchen, bathrooms, and backyard could all use some updating, and with this style of home, you’ll want to take a careful look through the disclosures. The layout is a bit nicer than most Eichlers and kept with the Eichler feel of big windows for natural light, but the bathrooms still felt very small.

3491 Janice Way – 4 Bedrooms | 2 Bathrooms | 1,659 SF House | 7,000 SF Lot | $1,498,000. Larger Eichler on a really nice, quiet street. Standard Eichler 4 bedroom floor plan with the bedrooms on one side with a master suite and one bathroom off the hallway. There have been some nice updates to this home like the flooring, but there’s still a lot that needs to be done. The lot size is on the larger size at 7,000 SF, and I think there’s a good value for the price with this home if you’re willing to do some remodeling. Don’t expect it to last long on the market.

3149 Stockton Place – 3 Bedrooms | 2 Bathrooms | 1,402 SF House | 6,000 SF Lot | $1,298,000. Cute cute cute! This house has undergone a fairly extensive remodel and definitely shines because of it. The spaces are all decently sized, and the home’s positioning on the lot allows for a large backyard. Although the kitchen was nothing exciting, I have to say this home was impressive for the size. As is typical with this agent, the property has been priced well below market value, so expect the final sale price to be higher…likely above the $1.4M mark.

2898 Louis Road – 2 Bedrooms | 2 Bathrooms | 1,015 SF House | 5,315 SF Lot | $998,000. Small starter home or investment property on Louis Road. If you like corner lots and don’t mind a small home or street noise, this home may be a strong purchase. Priced as a starter home at lot value, this property was somehow able to pack two reasonably sized bedrooms and bathrooms into a small home. The closet space definitely suffered, but altogether not a bad choice for the price. A good alternative to a condo.

889 Federation Way – 1 Bedroom | 1 Bathroom | 822 SF Unit | $354 per Month HOA | $499,000. Starter condo in South Palo Alto. The unit itself is quite nice. I think the Altair complex did a good job designing their units to create a nice open feel. This unit, although only 822 square feet, feels big due to the large living room and open kitchen. The dues in this complex are not very high, and the complex offers a lot of solid amenities for the price. I would call this a strong first time buyer purchase.

3540 La Mata Way – 4 Bedrooms | 2.5 Bathrooms | 2,500 SF House | 11,250 SF Lot | $1,850,000. Older home on one of my favorite streets in Barron Park. The home itself is quite large but has not seen much updating since its construction in 1963. However, the backyard and front yard are all nicely maintained and shine. The over-sized, 11,250 SF lot allows for more building, and in Barron Park, you can add a basement if you decide to remodel or add-on. This little street is a gem, and you should definitely take a look at this home as its layout and big spaces make it a wonderful option for a family.

Palo Altoâ€™s New Homes, June 21

It appears that the summer season has arrived. Inventory is finally starting to stabilize near 10-15 homes per week, so we can expect a reasonable inventory for the next month or two of the season. With interest rates on the climb, it will be interesting to see how home prices and inventory respond. Keep in mind that you can receive this weekly write-up in your inbox by signing up here.

For this week’s new homes, see below:

OFF MARKET - 3 Bedroom | 1 Bathroom | 6,500 SF + Lot | Barron Park. Starter home in Barron Park on a really nice lot. Home needs some remodeling, but given the depth of the lot, this could be a nice property for someone who isn’t afraid of a home addition or remodel. Keep in mind that Barron Park is not in a flood or earthquake zone, so you can build a basement.

OFF MARKET - 2 Bedrooms | 2 Bathrooms | Downtown Palo Alto. Totally remodeled two bedroom condo walking distance to downtown Palo Alto. Ground level unit. I really liked the oversized master bedroom and fireplace. Dues on this unit are on the higher end, but the complex is nice.

325 Channing Avenue, #110 - 2 Bedrooms | 2 Bathrooms | 2,052 SF Unit | $770 per Month HOA | $2,175,000. Ground floor unit in one of the most sought after complexes in Palo Alto. This is one of the larger units, and the floor plan has a really nice flow to it. One of the features which may detract from the property a bit is the staging, which I think took away from the overall look of the unit rather than adding to it. The bathrooms and bedrooms both have a nice size to them. I’m not a huge fan of the kitchen layout, but it’s better than most of the units in the complex. The pricing to me is feels big, but not entirely out of reason for a unit in this complex on the first floor.

101 Alma Street, #902 - 1 Bedroom | 1 Bathroom | 1,307 SF Unit | $617 per Month HOA | $599,000. Simply put, the pricing on this is well below market value. Although I’m not a big fan of this particular complex for most people, it is hard to argue the pricing for a 1,300+ SF unit on the better side of the building, and on the 9th floor. The unit is original, but seems to be well maintained. The flow on this unit is a little funky, but definitely workable. Keep in mind the higher dues in the complex when looking at the unit.

130 Iris Way - 4 Bedrooms | 3 Bathrooms | 2,500 SF House | 6,600 SF Lot | $2,780,000. Brand new construction in a busier section of the Duveneck neighborhood. What I like best about this home is that it is a no frills home with a lot of usable space. The Craftsman style home has a really nice back patio, and a solid flow on the first floor. The build used nicer materials, but nothing flashy. The four bedrooms are well sized and the downstairs has a nice open kitchen. If you’re a family looking for a very usable and easy floor plan, this is a great option. Be aware of the noise from Embarcadero, which you can hear from the backyard.

2031 Park Boulevard - 4 Bedrooms | 3 Bathrooms | 2,447 SF House | 7,500 SF Lot | $2,175,000. Park Boulevard is a really interesting road in Palo Alto. The home prices on this street run the gambit from high end to more modest pricing depending on which part of the street the home is located on. This home is located on what could be considered the best block of Park Boulevard. Some aspects of this home, like the bathrooms, feel dated, but the bones of this home appear solid. There is a fair amount of dead space throughout the home, so it felt small for the size. A nice backyard makes this home a nice property for someone looking to live near California Avenue. Be aware of the train noise, which is sporadic but consistent throughout the day.

2105 Birch Street - 2 Bedrooms | 1 Bathroom | 1,128 SF House | 5,000 SF Lot | $1,199,000. This home is priced for lot value. The floor plan is nicely laid out for a 2 bedroom, but given the lot, this home would benefit from an extensive remodel or rebuild. I’m not entirely sure the rebuild will be worth the cost if and when the purchase price exceeds $1,250,000. This is a tricky house, and will be interesting to watch.

239 Matadero Avenue - 3 Bedrooms | 2 Bathrooms | 1,244 SF House | 7,100 SF Lot | $1,268,000. Located in the Ventura neighborhood, this home was quickly remodeled to sell. The floor plan is workable but there is a lot of work to be done to the home. It is very likely that this home will be sold to either a developer or a first time home buyer. Take a stroll through the neighborhood with this home in mind, and be aware of the train noise in the area.

556 Saint Claire Drive - 4 Bedrooms | 2 Bathrooms | 1,600 SF House | 6,500 SF Lot | $1,498,000. This home is just begging for someone to come in with a vision and do a fun remodel. The layout and bones of this home have a lot of potential. I especially liked the brick fireplaces and exposed wood ceilings. I have seen some really nice remodels utilizing those two elements recently, and this home is asking for it to be done. The home itself does feel small, and two of the bedrooms felt undersized to me.

40 Christine Drive - 5 Bedrooms | 4 Bathrooms | 3,232 SF House | 8,309 SF Lot | $3,098,000. Fairly new home built by James Witt. Usually we see James’ construction in Barron Park and Green Acres, but he went further south to build this property in 2005. I liked the layout, but the home felt tired and boxy to me. The rooms have high ceilings, which is a nice touch. Although the kitchen is open, I think it was laid out poorly. The range hood cramps the space, and I feel it should have been incorporated elsewhere to keep the space feeling open. the 4th and 5th bedrooms felt small, and the fifth bedroom was too small for a queen bed to fit comfortably. The backyard on this home is definitely impressive, and will likely be what sells the home.

879 Clara Drive | 4 Bedrooms | 3.5 Bathrooms | 2,183 SF House | 6,000 SF Lot | $2,488,000. Fairly basic floor plan but a really nice layout that would work well for a growing family. The kitchen area is modern (the home is only 7 years old) and does a good job flowing into the dining area. I like that the builder designed bigger bedrooms rather than cramming a fifth bedroom into the property. These bedrooms are all well sized and usable. The lot is a standard size, so the backyard is a nice size but nothing extraordinary. The location of this home makes for some light street noise in the backyard, but was not noticeable in the home.

3502 Arbutus Avenue - 4 Bedrooms | 3 Bathrooms | 2,183 SF House | 12,240 SF Lot | $1,988,000. A very Eichler-esque home in South Palo Alto. This particular property looks and feels a lot like a standard Eichler, down to the bedroom and bathroom layout. The galley style kitchen of the Eichler homes has been changed to more of an enclosed kitchen, but the large windows, exposed beams, indoor/outdoor feel of the living room all remain intact. The home has seen some updating, but there is still a significant amount of work to be done to the flooring and kitchen area. The lot size on this property is spectacular, and since it’s a pie shaped lot, much of the space is in the backyard.

3797 Ross Road - 3 Bedrooms | 2 Bathrooms | 1,247 SF House | 6,500 SF Lot | $1,299,000. The exterior paint scheme of this property pretty much sums it all up. The interior is cluttered, so it may be hard to get a feel for what this home could be. You’ll need to make some changes throughout the home or rebuild completely, which is how the pricing was derived. The backyard is nice, but for a slightly over standard sized lot that far south in Palo Alto, the price feels right at market value.

3197 Louis Road - 3 Bedrooms | 2 Bathrooms | 1,535 SF House | 6,500 SF Lot | $1,299,000. Given the type of remodeling done to this property, I’m guessing it was a rental before being sold (big, cheap tiles in the kitchen are typically a dead giveaway). I think this home could be a cute starter for a family with one, or maybe two children. The bedrooms are not in bad shape and you could, if needed, move in now and remodel later. Louis Road does get some street noise, but this is nice little property for the price. With that in mind, I feel it’s definitely priced below market value.

886 Ilima Court - 4 Bedrooms | 3 Bathrooms | 2,075 SF House | 6,000 SF Lot | $1,828,000. Large home for the lot size in Barron Park. I liked that the home has seen some updates as of recent. The bathrooms, floors, and kitchen all look nice and clean. The home itself is about as big as you can get on a standard lot, but it is situated towards the back of the lot so the backyard feels a little small. The bedrooms are all well sized, and the master suite is a nice value add on this particular home. The price on this home feels right, if not a little bit low. This might sound strange, but this property has a garage which will make a lot of weekend warriors happy.

Palo Alto’s New Homes, June 21

For this week’s new homes, see below:

Palo Altoâ€™s New Homes, June 14

A trickle of inventory hit Palo Alto this week, with homes staying mostly below the $3M mark. This is an interesting change from previous weeks, when many homes above the $4M were coming on the market in the Old Palo Alto and Professorville neighborhoods. See below for this week’s new listings:

293 Bryant Street – 2 Bedrooms | 2 Bathrooms | 1,320 SF Unit | $484 per Month HOA | $1,089,000. Charming town home in Downtown Palo Alto. I absolutely loved this unit. Although the building is on the older side, it’s bursting with character. The unit itself has been well remodeled, and the staging did a solid job making the living areas feel spacious. Since it is a town home, you’ll want to look into the HOA. The dues seem fair to me. Only downside I could point out is that the parking is uncovered. Excellent property and don’t expect it to last long on the market.

51 Crescent Drive – 4 Bedrooms | 5 Bathrooms | 6,374 SF House | 23,522 SF Lot | $12,800,000. If you didn’t know Palo Alto well, you wouldn’t know that this litte street existed. Similar to most of the lots in this section of Palo Alto near University Avenue, the lot on this property is about half an acre. The finishes and detailing on this home are extremely high end and set up to impress. The backyard is also very well manicured and set up. If you’re looking to entertain, this home is well suited for that. The price to me feels very big given the home’s proximity to University Avenue and also that it is not in the middle of a neighborhood. However, as with all properties in Palo Alto over $8M, it will be exciting to watch.

2320 Tasso Street – 4 Bedrooms | 3.5 Bathrooms | 2,371 SF House | 5,000 SF Lot | $2,295,000. Mostly outdated home in Old Palo Alto. I liked the layout of this home. Although many of the spaces felt segmented, there was some nice space to the kitchen and living area. There is some work to do to this home in order to get it back to the modern era, but it may be worth it for someone who’s looking to live in the home 10 years or more. The third and fourth bedroom felt small to me, but altogether the home has a surprising amount of space.

2957 Waverley Street – 6 Bedrooms | 4.5 Bathrooms | 3,571 SF House | 14,675 SF Lot | $2,798,000. Newer construction in Midtown. Clocking in at just 9 years old, this midtown home has a lot to offer. The home itself is bout 2,600 square feet, and feels fairly small in the bedrooms. This home seems to have been built for a larger family, and some of the floorspace downstairs is sacrificed to make that happen. I really liked the three car garage (who doesn’t) and the immense size of the backyard are all big pluses. This home is priced low, so don’t expect it to last long on the market.

3135 Avalon Court – 3 Bedrooms | 3 Bathrooms | 2,503 SF House | 7,770 SF Lot | $1,998,000. Home with remodeling in all the right places. Although much of the home will need light remodeling, the work done to the kitchen was stellar. This home is quite spacious and sits on a larger lot. The only limiting factor to this home is that there were only three bedrooms, and one of them was quite small. The gathering areas on this particular home feel very large. This home would be a good match for someone who likes to entertain.

3494 South Court Street – 3 Bedrooms | 2 Bathrooms | 1,424 SF House | 6,250 SF Lot | $1,195,000. Lot value home on South Court. There isn’t much to say about this particular property. It will need lots of updating. However, for the right buyer who isn’t afraid to get their hands dirty, this could be a good match. Given that lot value for this area is closer to $1.3M, expect this home to move quickly.

3710 Lindero Drive – 4 Bedrooms | 2 Bathrooms | 1,877 SF House | 7,835 SF Lot | $1,495,000. Eichler-esque home bordering Lindero and Alma. The updating that the sellers have done was well executed; the home looks nice without an over the top remodel. I liked the wood beams throughout the home, but it also makes me think that the roof insulation is minimal. Although the backyard is nice and large, there is a noticeable amount of noise.

4369 Miller Avenue – 3 Bedrooms | 1 Bathroom | 1,130 SF House | 9,315 SF Lot | $1,199,000. Lot value property in Monroe Park. This home needs a lot of work, and is even being advertised as a tear down home. The interior spaces are well laid out, but there are obvious signs of damage and age throughout the home. Folks, this home is well priced for a lot, but I would be hesitant to buy it unless you’re happy with a heft remodel or rebuild.

3732 Feather Lane – 2 Bedrooms | 2.5 Bathrooms | 2,153 SF Unit | $270 per Month HOA | $888,000. 2 year old unit with Palo Alto schools. I personally think these units are a bit cramped, but this unit in particular was not so bad. The attached garages cause the unit to feel pushed in on the first floor. The master bedroom and second bedroom are both nicely sized. Altogether, not a bad purchase and this unit will be interesting to watch.

2460 W Bayshore Road #7 – 2 Bedrooms | 1 Bathroom | 906 SF Unit | $447 per Month HOA | $525,000. Another nice starter condo on Bayshore. These units have a basic two bedroom, one bathroom floor plan, but it’s functional. This particular unit was lightly remodeled, but I would have liked to see more done with the kitchen cabinetry, which is obviously dated and painted over. The bedrooms are both a nice size, and so I think that this unit could be a fantastic match for a young individual or couple looking to step into Palo Alto.