This Palo Alto house was outlined for $4 million. Its sale cost went even greater

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The home:

479 Ferne Ave. in the Greendell community of Palo Alto

What can make it distinctive:

This five-bedroom, 4-and-a-50 percent-lavatory Eichler — just steps absent from the border separating Palo Alto from subsequent-door Mountain Watch — has remodeled considerably considering the fact that it bought in 1987 for $310,000. It really is been reworked to suit the stereotypical aesthetic of a future homebuyer in Silicon Valley, with a superior-tech kitchen area (and 12-foot waterfall island), electrical shades, a bocce ball courtroom in the yard and a bioethanol-burning hearth in the dwelling room. The whole house — which also offers floor-to-ceiling home windows — has sensible-property characteristics during (application-managed units, Sonos sound, house safety, and more). “It had an open, ethereal experience,” reported Michael Repka, CEO of DeLeon Realty, the serious-estate business that represented equally the home’s sellers and prospective buyers. Repka explained that a significant draw for purchasers was that the property was really significantly transform-crucial, a thing that has turn out to be even much more desirable for tech staff looking to buy in Silicon Valley. But in several approaches it truly is Palo Alto as a strategy that carries on to maintain the sector. Repka says he is viewing a great deal of customers from San Francisco relocating to Palo Alto. Properties right here usually provide in just the first week, and can go for any place from 15% to 40% in excess of inquiring cost. This home was mentioned for just less than $4 million, but even that determine did not appear to give people pause, he explained. When compared to anyplace else in the state, Repka said, Silicon Valley’s selling prices don’t make any sense. “However, the combo of life style, schools, work options… it has just prompted all of us to suspend that logic.”

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