The DeLeon Insight - November 2016 by DeLeon Realty

The DeLeon Insight Silicon Valley Real Estate Local Specialization

Global Reach

Integrated Approach No ve m b e r 2016

• The Evolution from the Uninformed Generalist to the Skilled Specialist • DeLeon Realty Opens Palo Alto’s Largest Residential © 2016 DeLeon Realty - DeLeon Insight November 2016 1 www.deleonrealty.com Real Estate Office ®

The DeLeon Update: Market Trends Average Sales Price 2015 & 2016

01/2015 - 10/2015

01/2016 - 10/21/2016

Average sales price for single-family homes from 01/01/2016 to 10/21/2016 compared to a similar period in 2015.

Average Price/Square Foot 2015 & 2016

01/2015 - 10/2015

01/2016 - 10/21/2016

Average price per square foot for single-family homes from 01/01/2016 to 10/21/2016 compared to a similar period in 2015. *Data gathered from the Multiple Listing Service on 10/21/2016

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DeLeon Realty Opens Palo Alto’s Largest Residential Real Estate Office

By: Michael Repka, Esq. DeLeon CEO/General Counsel

s a result of our rapid growth and expanding level of complimentary services, we have outgrown our previous office, which was located just north of the intersection of El Camino Real and Page Mill Road. It is our understanding that our former six-story building will be razed and replaced with a four-story, 62,000-square-foot office building. We are proud to announce that we have recently tripled our office size and moved into a 16,200-square-foot facility at 1717 Embarcadero Road in Palo Alto. In addition to Savant automation, this space includes five conference rooms, a large lecture room with seating for seminars and training events, two lounges, a design center, a complete gym, an outdoor picnic area, a recording studio for the audio portion of our market-leading videos and TV commercials, and a fully equipped kitchen. Additionally, DeLeon Realty is the first local real estate company to provide free meals and drinks to all personnel seven days a week. We look forward to welcoming our clients to our lovely new home.

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Neighborhood Spotlight: The Willows of Menlo Park By: Ken DeLeon, Esq. DeLeon Founder “The real voyage of discovery consists not in seeking new landscapes, but in having new eyes.” - Marcel Proust

he changing nature of Silicon Valley is illustrated in the new construction and redevelopment that is occurring in many residential neighborhoods. This transformation is quite apparent in the Willows, an area of Menlo Park that exudes the charm of Norman Rockwell’s Saturday Evening Post depictions of small-town America. While new buyers enjoy the curving, tree-lined streets reminiscent of neighboring North Palo Alto, those who grew up in Menlo Park recall when the Willows was not viewed as fondly. Where the gleaming office towers and the Four Seasons now proudly stand, there was a rundown commercial district once known as “Whiskey Gulch.” The origins and eventual elimination of Whiskey Gulch not only make for an interesting story, but are also reflective of the positive changes that have allowed the Willows to become increasingly desirable to young homebuyers. Following the wishes of Leland Stanford, Palo Alto enacted a prohibition on alcohol that remained in place for almost one hundred years. Eager, thirsty Stanford students and Palo Alto residents would travel outside city limits to what later became known as Whiskey Gulch. Just beyond the Palo Alto border near 101,

several liquor stores and bars opened up just beyond the Willows border. This concentration of liquor stores led to increased petty crime that spilled over into the Willows, harming the neighborhood’s reputation and, in turn, neighborhood property values. Whiskey Gulch’s popularity as a local watering hole began to decline around the early 1970s with the repeal of the prohibition of liquor sales in Palo Alto. Declining alcohol sales and increasing land values led to Whiskey Gulch being torn down three decades later in 2000, and replaced by the Four Seasons and three large office buildings. With this change, crime rates in the Willows dropped dramatically. Whiskey Gulch was no longer an anchor weighing down property values, and a first wave of redevelopment occurred. Incoming buyers loved everything the Willows had to offer: excellent schools, a charming community, proximity to local parks, and access to 101 for easy commuting. A second wave of revitalization has occurred since Facebook established their headquarters nearby at the old Sun Microsystems

campus in 2011. Since then, Facebook has quadrupled the size of their campus to nearly 200 acres, with continued growth in employee count and additional campus expansion planned in the near future. The centrality of the Willows is particularly appreciated by Facebook employees, who save time on their commutes and are eligible for substantial bonuses for moving or renting within 10 miles of their campus. With all of these positive forces, the Willows has seen strong appreciation that exceeds the rate for Menlo Park itself. The median price of a home in the Willows in 2002 was $750,000 and has now climbed 167 percent to an even $2 million (both statistics per MLS as of October 2016). While those who grew up in Menlo Park may still have some qualms with the neighborhood’s past, smart buyers see a continually up-and-coming neighborhood that is an excellent place to live, play, and meet others. DeLeon Realty projects continued appreciation in the Willows neighborhood as the benefits continue to flow from Facebook’s long-term expansion plans and as the bevy of new homes being built continues to attract new buyers. I personally bought two homes in the Willows last year as this great neighborhood will only improve with time. For those buyers looking for above-average appreciation, the Willows is certainly a prime neighborhood to consider.

Selling your home? F i rs t, m e e t w i t h M i c h a e l R e p ka .

Meet with Michael today for tax and legal advice before listing your home. Unlike most real estate agents, Michael holds two law degrees and has years of experience as a real estate and tax attorney, giving his clients a unique advantage as most other brokerages do not provide an in-house attorney to help clients. In addition, the expertise and marketing available through the team at DeLeon Realty are the very best in the business. Meet with Michael to discuss any preliminary tax and legal questions about selling your home and let him tell you more about what makes DeLeon Realty’s innovative approach to real estate so successful. There is no cost or obligation for this consultation. However, homeowners who have a current listing contract with another agent are excluded. 65 0 . 4 8 8 . 7 3 25

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The Best Holiday Present Ever – A Great Deal on Your Next Home By: Ken DeLeon, Esq. DeLeon Founder

ecember is the greatest time of year to be shopping for bargains! While I am picking out holiday gifts for my four children, the real excitement is the shopping I do with my clients to find them an exceptional value. Exploiting the seasonal dynamics of the Silicon Valley housing market is just one of several approaches I utilize to get my clients’ homes for below market value. The following six strategies are ways to identify and purchase the elusive good deal in Silicon Valley. 1) Purchase your home over the winter holidays or during the summer doldrums. Seasonal trends definitely affect the supply and demand dynamics of the local housing market. During the rainy days of November and December, most buyers take a break and focus upon the upcoming holidays and winter vacations. With landscaping looking the worse it can during the year and with school enrollment months away, there is no driving motivation for most buyers to purchase a home. The few dedicated buyers still looking then will find that multiple offers decrease during this period and motivated sellers, who know they should not be on the market but need to sell, are very eager to entertain any offer. Although there are a lot of buyers who would like to buy homes, they lose focus on their search during these seasons. Few agents are willing to invest in the aggressive marketing necessary to wake these buyers from their hibernation. By February, more people are ready to consider purchasing a home again. The spring market reaches a frenzy by late February that will extend through May as beautiful landscaping peaks along with buyer demand during this time of perfect weather. In addition, parents want to have their new home purchases wrapped up in plenty of time for the next school term. To empirically illustrate how large of a jump can occur from these seasonal dynamics, the price per square foot for San Mateo and Santa Clara counties jumped from December 2015 to March 2016 by

10 percent and 13 percent respectively. Frequently, the majority of a year’s appreciation will occur in this transition from the winter buyers’ market to the spring sellers’ market. 2) Target buying from either an out-ofarea or inexperienced agent. As a mathematics and economics graduate, I did a lot of regression analysis while in college. I applied many of these principles and used a data scientist to find what variables correlate with homes that sell for below market value. The empirical data I found confirmed what I intuitively observed, which is that out-of-area and inexperienced agents do not maximize the value of their listings. Whether the listing agent is effective or not can have a large impact upon a property’s selling price. For example, an excellent, local listing agent will have prepared the home for sale by having the property painted, landscaped, and staged to look its best to all prospective buyers. Additionally, substantial advertising and setting a list price just below market value is a recipe for multiple offers with the property then selling for top dollar. In contrast, an agent unfamiliar with the local marketplace presents an opportunity. Out-of-area agents from San Francisco, San Jose, or East Bay may not know how to effectively market a home, will likely not put the home on broker tour nor have open houses, and certainly will not reach out personally to the top area agents. This lack of exposure, usually coupled with a lack of advertising, means fewer buyers competing for this home and a lower sales price. The empirical data I ran also showed a discount when an agent was inexperienced, although not as much of a discount as for out-of-area agents. 3) Overpriced listings can become excellent deals. A home attracts the most attention right when it goes on the market. If it is overpriced and does not sell within the first few weeks, it may go “stale” and sit on the market for months. Unless they are

substantial, even future price reductions may go unnoticed. After these homes have been sitting on the market for months, the sellers often become frustrated and their motivations to sell may increase. These properties can then become good values, especially if the home is vacant. Sellers who have moved out of state or have already purchased their new homes tend to be the most motivated. Ironically, homes that are underpriced and create an auction mentality may end up selling above market value whereas overpriced listings later sell for below market value. 4) “Fixer-uppers” can often be purchased at a discount relative to other homes, even after factoring in the repair costs. Most buyers in busy Silicon Valley do not want to get involved with home improvement and will pay top dollar for a “turnkey” home. Thus, buyers who are willing to go through the time and expense of minor home improvements will be rewarded. Notice the emphasis on minor improvements, which means cosmetic issues. Like probates, the best fixer-uppers can be quickly and affordably improved by painting, cleaning, carpeting, and landscaping the home. We can advise you on which simple repairs have a rate of return exceeding 300 percent of their cost. For example, spending $20,000 on interior and exterior paint, new carpeting, and landscaping could easily add $75,000 in value to your new home. The rare major renovation that

can add a lot of value is when you are curing a floorplan flaw, such as adding a bathroom to a three-bedroom, one-bath home. Be aware that major remodeling projects normally take more time and money than originally planned, which is why I recommend homes in need of minor repair for maximum benefits. DeLeon Realty has a full-time construction consultant who can help you assemble a great team for remodeling and help you negotiate the lowest remodeling bid possible. 5) A property that is hard to show will sell for less. In the perfect world for agents, every property would be vacant so that RealtorsÂŽ can bring their clients by at any time. However, properties occupied by tenants and even some sellers require setting an appointment with 24-hour notice. Agents will always show their clients the properties that are easy to show first. The more difficult the scheduling process, the

less likely the home is to be included in a tour. Additionally, recalcitrant tenants will often play defense and have the home look messy to delay or prevent the sale and their being forced out of their rental. Thus, homes that are hard to show will generally get fewer showings and consequently sell for less. 6) Homes where an owner has passed away in the house will sell for less than market value. A death in the house must legally be disclosed in California if the death occurred in the last three years. A death in the household, almost always a peaceful death with no foul play involved, is quite common and several listings will have this. However, many individuals will view this as a large negative

ÂŠ 2016 DeLeon Realty

and not put forward an offer. This can drive down the number of offers by as much as a third; so, instead of six offers on a property with a death in the home, it will only receive four offers. Notably, this is the rare resale issue that goes away, for once the three years from the date of death elapses this disclosure is no longer required. While some of my buyers view a death in the home as bad karma, others view these homes as good deals. Given how high our housing prices are, utilizing these strategies along with many others employed by DeLeon Realty results in clients sometimes saving over $100,000 on homes they purchased. With the help of our insightful agents, savvy buyers can occasionally find well-priced homes that are great values and will add to your holiday cheer.

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Geothermal Systems: A Trendy Improvement for the Environmentally Conscious By: Alex Seroff J.D., Listing Specialist

fficient and environmentally friendly are most often the attributes that Silicon Valley residents value in all aspects of their daily lives. Many local residents have noticed—and Stanford studies have confirmed—that California has seen more extreme weather in recent years, and this trend is likely to continue. Facing this fact, some have decided to balance the need for increased usage of heating and cooling by investing in geothermal systems that have the above-mentioned highly valued attributes. To understand why geothermal systems are efficient and environmentally friendly, it is important to understand how they work. The idea behind a geothermal heat system is that one can capitalize on the fact the temperature is a constant 50 to 60 degrees Fahrenheit about 20 feet below the ground. While there are several different types of geothermal systems, the closed-loop system is the most common. As defined by the Department of Energy, this system uses heat pumps to circulate an antifreeze solution through plastic tubes buried under the ground. This antifreeze meets the refrigerant in a heat exchanger, and the temperature is either increased or decreased depending on the time of year. This is because it taps into the plentiful heat below the surface in the winter or disperses undesired heat into the relatively cool ground in the summer. While this system has no local greenhouse gas emissions, it forms only part of the equation when making an effort to significantly reduce

your personal carbon footprint from heating and cooling sources. A Department of Energy report found the amount of emissions of a high-efficiency furnace are comparable in the United States, if it is powered by natural gas. So, in order to make a true difference, one must couple a geothermal system with a renewable energy supply to power the components of the system. The exceptions are if the system is an alternative to a furnace powered by heating oil or electricity, in which case there is already a significant decrease in greenhouse gases. California currently obtains about 20 percent of its energy from renewable sources. There are also financial benefits of installing a geothermal system. According to Energy Upgrade California, the average system will cost about $25,000, but federal and state rebates and tax breaks can cover up to 60 percent of the costs. It is also estimated there can be 20-50 percent savings on heating and cooling costs each month. Thus, the system could pay for itself within three years, and that 20-50 percent savings is truly money saved every month from then onward. With real estate at the forefront of the minds of many in Silicon Valley, the next natural question is whether a geothermal system will have an effect on home value. This cannot be answered either way with

100 percent certainty due to the fact there are not enough comparable homes with the main difference being only the existence or lack of a geothermal system. This is necessary to derive the change in value resulting from a system. Anecdotally, it appears that many local buyers believe innovative, efficient, and environmentally friendly systems are a positive when considering a home. This indicates the possibility that more buyers may come forward with an offer when presented with another positive attribute of a home, thus causing a more competitive bidding situation resulting in a higher sales price. In addition, appraisers consider these systems a “contributory value,” and a report from The Appraisal Journal found value increases of $20 per every $1 in reduced annual utility bills. This would make for de minimis increases in value relative to Silicon Valley prices, but this data is older and, if accurate today, would need to be adjusted upward significantly to address inflation. With several measurable benefits in the reduction of pollution and energy cost savings, as well as the potential for increase in the value of a home, it is no wonder that the installation of geothermal systems has become trendy and more common within Silicon Valley.

14123 Tracy Court, Los Altos Hills High-Tech Architectural Masterpiece Meticulous attention to detail augments the design of this breathtaking 7 bedroom, 6 bathroom residence of nearly 6,000 sq. ft. (per appraisal) that occupies premises of 1.3 acres (per appraisal). Highly sustainable and state-of-the-art, the smart home includes a reliable, eco-friendly geothermal energy system and versatile spaces like a two-story au pair unit. As functional as it is stylish, this contemporary retreat effortlessly opens to outdoor living areas highlighting a kitchen, a spectacular pool with an exciting water feature, and a custom play structure. Enjoy living within steps of Pearson-Arastradero Preserve and with access to exceptional Palo Alto schools (buyer to verify eligibility). For video tour & more photos, please visit:

www.14123TracyCourt.com Offered at $7,788,000

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Representing the Buyer and the Seller: Can the Practice Continue in California? By: Sigrid Waggener, Esq. Real Estate Attorney

lthough the practice of “dual representation”—representing the buyer and seller in a real estate transaction—is completely legal and widely accepted in California, it seems impossible for one real estate agent to zealously represent the disparate interests of the buyer and the seller, even when the situation is properly disclosed. Simply too much conflict of interest exists. Nevertheless, many agents are tempted by the thought of getting twice the commission from the same transaction, and many clients accept this practice, not realizing how much more other agents’ clients might have been willing to pay. A good attorney would cringe at the notion of representing both the plaintiff and the defendant on the same case, yet many real estate agents represent both sides of a transaction without batting an eye. To our knowledge, DeLeon Realty is the only major brokerage in Silicon Valley that imposes an absolute prohibition on the same individual agent advising both the buyer and the seller on the same transaction (or accepting any additional compensation if a particular buyer gets the house). Conversely, most other brokerages permit the listing agent to receive additional compensation if one of the listing agent’s buyers gets the property, which can cast a doubt on the listing agent’s objectivity. In fact, some brokerages attempt to rectify this untenable situation by instructing the listing agent to abandon the sellers if they procure their own buyer. In those situations, an office manager, who is often unfamiliar with the property and competing properties, steps in to advise the sellers. Needless to say, this is not a viable solution because the listing agent already has pertinent confidential information regarding the sellers’ position (e.g., the lowest price the sellers are willing to accept). Further, by the offer stage, the listing agent would have had contact with other agents with interested buyers and may

have subtly dissuaded these agents from submitting offers in order to enhance the listing agent’s buyers’ chance of success. Recently, the California Court of Appeal weighed in on the matter of dual representation in Horiike v. Coldwell Banker Residential Brokerage Company, 169 Cal. Rptr. 3d 891, 893 (Cal. App. 2d Dist. 2014) (“Horiike”) with an added twist. In Horiike, the Appellate Court applied legal principles associated with dual representation to a real estate transaction where the seller and buyer were represented by different individuals working for the same real estate brokerage. The Appellate Court’s decision in Horiike is now pending before the California Supreme Court. If upheld, the decision could significantly impact future real estate transactions across the state. The Relevant Facts and Findings of Horiike In 2006, a seller of residential real estate in California retained an independent contractor agent who was associated with Coldwell Banker as the listing agent for the seller’s residence. Public record information identified the residence as having over 9,000 square feet of living space, and the building permit issued for construction of the residence stated the residence consisted of nearly 11,000 square feet. However, the seller’s agent prepared a sales brochure for the property which stated the property offered “approximately 15,000 square feet of living areas.” An offer to purchase the home was submitted in March of 2007, and the prospective purchasers asked for verification of the living area square footage. The seller’s agent provided the prospective purchasers with a letter from the residence’s architect stating that the home contained 15,000 square feet of living space, but also advised the prospective purchasers to hire a qualified specialist to verify the square footage of the home. When the prospective purchasers requested an extension in order to verify the home’s square footage, the seller declined their request, and the transaction was cancelled. In November 2007, another Coldwell

Banker agent representing a different prospective purchaser named Hiroshi Horiike arranged for Horiike to view the residence. The seller’s agent gave Horiike a copy of the brochure stating the property had 15,000 square feet of living space, but did not advise Horiike to have the square footage estimate verified by an expert. Horiike purchased the residence and subsequently filed a lawsuit against the seller’s agent and Coldwell Banker alleging the residence had only 11,964 square feet of living space. The lawsuit alleged several causes of action, including a claim for breach of fiduciary duty by both defendants. The trial court decided in favor of both defendants and Horiike appealed. The Appellate Court reversed the trial court’s decision and made the following key findings: • Because the seller’s and buyer’s agents were both affiliated with Coldwell Banker, Coldwell Banker was acting as a dual agent of the buyer and the seller; • As a dual agent, Coldwell Banker owed a fiduciary duty of utmost care, integrity, honesty, and loyalty to both the buyer and the seller; and • Because the seller’s agent was affiliated with Coldwell Banker with respect to the transaction with the buyer, he owed the same fiduciary duty to the buyer that Coldwell Banker owed. In other words, the listing agent had to act in the best interest of the buyer despite his closer ties to his client, the seller. In its decision, the

Appellate Court also signaled its belief that the seller’s agent had breached his fiduciary duty to Horiike when he failed to disclose that there were contradictory living area measurements for the residence.[1] The Anticipated Supreme Court Decision and Its Impact Generally speaking, the Supreme Court has three options: (1) overturn the Appellate Court’s decision, (2) adopt a “middle ground” position by modifying the decision, or (3) uphold the Appellate Court’s Decision. Upholding the Appellate Court’s decision could have a profound and wide-ranging impact on the way real estate is practiced in California, especially at large brokerages such as Coldwell Banker and Alain Pinel. Generally, at most brokerages, agents switch back and forth between working with buyers and sellers, occasionally on the same transaction, so it is unrealistic to expect that these agents will commit to only working with buyers or sellers. Alternatively, the Supreme Court could

overturn the Horiike decision on the grounds that simple affiliation with the same brokerage is not sufficient to trigger a fiduciary duty to the buyer and decide in favor of both defendants. However, this would be inconsistent with the overarching principals of California agency law. A middle ground decision is also possible. The Supreme Court could find that the Coldwell Banker agent representing the seller is liable to Horiike, based on the disclosure standard generally applicable to sellers’ agents, and reject the Appellate Court’s finding that the dual agency standard applied to defendants. This decision would afford the buyer some relief, but would not expand the applicability of the dual agency fiduciary standard. Upholding the Horiike decision would significantly impact standard practices throughout the industry. If this decision stands, representation of a buyer and a seller by two agents from the same brokerage could entail a risk of enhanced liability. To avoid added liability, a brokerage could consider bifurcation to create a “listing-

only” entity and a “buyer-representationonly” entity. Traditional brokerages would need to substantially reorganize to operate in this manner. Notably, DeLeon Realty operates a bifurcated practice and has done so for years. DeLeon’s listing practice and buyer representation practice are operated separately and independently from one another; there are no individual agents straddled between buyers and sellers. Should the Horiike decision become the legal benchmark, we may see DeLeon’s operational model implemented across the industry, which we believe would be a good thing for consumers. However, it would be costly for many real estate agents, especially those who hope to get commission from both sides of the transaction, or brokerages that condone this practice. [1] The entire decision can be reviewed at: http://caselaw.findlaw.com/ca-court-ofappeal/1663165.html

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DELEON PLATINUM, LEADERS IN LUXURY.

With more sales over five million dollars than any other office in Santa Clara County, DeLeon Platinum is the brand of choice for discerning luxury buyers and sellers. DeLeon Realty is taking an integrative and innovative approach to real estate that is unparalleled. Our staff works collaboratively to combine expertise in all facets, allowing for the highest level of care and attention for you and your property. For Platinum buying opportunities, contact Ken DeLeon at 650.543.8501 To learn about our complete luxury package for sellers, contact Michael Repka at 650.488.7325

*Data gathered from BrokerMetrics® 10.14.16

Neighborhood Spotlight: Edgewood Park of Redwood City

By: Chris Fisher Redwood City & Redwood Shores Specialist

riginally part of a private estate called Rancho de las Pulgas, Redwood City became a port town during the Gold Rush. The city established itself as a vital center for commerce, government, and manufacturing throughout the mid-1800s and, due to its large business base, was selected to become the county seat for the newly developed San Mateo County. On May 11, 1867, the state of California approved Redwood City as the first incorporated city in San Mateo County. Fast-forwarding to the present, Redwood City is now home to over 85,000 residents and forms the geographical midpoint between San Francisco and San Jose. Tucked away in the northern area of Redwood City lies a highly coveted neighborhood by the name of Edgewood Park. Roughly a quarter-mile by one mile wide, this neighborhood is bordered by the city of San Carlos to the north, El Camino Real to the east, Whipple Avenue to the south, and Alameda de las Pulgas to the west. The neighborhood consists of approximately 500 single-family residences and is also considered home to Redwood City’s original “Millionaire’s Row.” Residents can regularly be seen throughout Edgewood Park strolling with their dogs or riding bikes

with their children, underlining the inviting, family-oriented feel of the area. The housing stock of Edgewood Park gives this neighborhood a unique charm. While strolling down the tree-lined streets that enhance the area’s welcoming ambience, one will see a wide variety of homes. The eclectic mix of Mediterranean, Tudor, Colonial, and Craftsman homes dates all the way back to the early 1900s. Also included within this neighborhood are several Ranchstyle homes built mid-century, and newer constructions are sprinkled throughout. Sizes of homes vary considerably, ranging from cottages of slightly over 1,000 square feet to estates of over 4,800 square feet, on lots that stretch from 5,000 square feet to over 1.5 acres. Wellesley Park, a micro-neighborhood of Edgewood Park, was Redwood City’s first residential development located west of El Camino Real. This area was originally subdivided into 153 lots in 1889 by the Wellesley Land and Improvement Company. A common phrase in real estate is the infamous “location, location, location,” and Edgewood Park is the perfect example of a great location within a great city. Located strategically in between I-280 and US-101, Edgewood Park is ideal for commuters. Residents of this neighborhood are within close proximity of Sequoia Station, where commuters can take advantage of the Baby Bullet train. © 2016 DeLeon Realty

Residents of Edgewood Park are also within close proximity of several parks. Sprawling over 1.6 acres and within walking distance to this neighborhood is Stafford Park, where locals enjoy the barbecue area, picnic tables, a large grassy space, a playground, a “tot lot,” and a water feature during the summer months. Located less than a 10-minute drive away is Edgewood Park and Natural Preserve, a large park of over 460 acres offering several scenic hiking trails. Downtown San Carlos and the revitalized downtown area of Redwood City are also a short drive away, allowing locals to enjoy a range of amenities including a wide variety of stores, restaurants, and popular options like farmers’ markets and events at the historic Fox Theater or Courthouse Square. Year to date, the median price for a home in Edgewood Park is nearly $2.2 million, which is close to double the median from five years ago. To put it all in perspective, the number of new listings in Edgewood Park in 2016 is under 20, compared to 31 in 2011. The average price per square foot is $926, an increase of 74 percent from 2011, and the average days on market is currently 15, a decrease of nearly 82 percent from 2011. Inventory levels and the number of sales on an annual basis continue to stay low, forming two of the main ingredients for the recipe of the incredible appreciation this area has experienced.

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Your Fall To-Do List By: Tilu Arora Design Coordinator

ight the urge to wait until spring to perform a massive, annual cleaning of your home. Instead, prep for the fall and winter seasons by following this list of quick tips—from adding warm layers to scheduling necessary maintenance—so you will be fully prepared to enjoy this cozy time of year. Schedule HVAC maintenance. Make sure your heating system is up to par by having a professional look at it now. Have the furnace’s filters vacuumed or changed as required.

replace batteries as needed. Also, check the expiration date on the kitchen fire extinguisher and replace it if necessary. Cover or store outdoor furniture. If you plan to use your patio furniture or grill outside through the wet months, cover these pieces well and stow them beneath an overhang or awning for protection from the elements. Even if your weather stays relatively mild, covering your grill between uses will help protect its finish. If your barbecue needs a custom cover, you can have one made; some vendors will customize a cover to fit the size and shape of your barbecue.

Maintain the fireplace. If you use a wood-burning fireplace, make sure you have enough firewood for the approaching winter. Arrange time to clean your fireplace while you’re at it; if it hasn’t been used in a while, you may need to schedule professional maintenance.

Seal your driveway. For driveways, a sealant creates a barrier between the asphalt and external forces like rain, snow, and petroleum run-off from cars. The use of a sealant will also make the driveway look more visually pleasing while massively improving the asphalt’s resilience against the seasonal freeze and thaw cycles.

Inspect roofing and gutters. While removing autumn’s leaves from your gutters, note any worn-out seals around vents, pipes, and/or the chimney. Arrange for necessary repairs now to avoid inconvenience or possible damage later.

Eliminate dead tree branches. Dead limbs or branches are more likely to fall during winter storms, making them a potential safety hazard. Plan ahead and have an arborist inspect and trim large trees on your property.

Check safety devices. Test all smoke and carbon monoxide detectors and

Insulate windows and doors. Weather stripping applied around windows and

doors will help boost your interior’s warmth while cutting energy costs. Add door sweeps to drafty doors to keep heat in and cold air out. Caulk around window frames to eliminate gaps and protect against leakage. Clean upholstered furniture. Vacuum upholstered furniture, or have your pieces professionally cleaned if needed. Don’t forget to move your furniture items to allow vacuuming beneath and behind them. Sort your closet. If you’ve bought new clothes recently, sort your wardrobe and remove unworn pieces. Collect clothes that need mending, pack up non-seasonal attire, and arrange your closet so that fall and winter clothes are easily accessible. Add warm layers. Consider switching lightweight bedding for cozy flannel sheets and fluffy duvets. Add warmth to other rooms by installing throw blankets and pillows in toasty, rich materials like wool, velvet, or faux fur. Update your book collection. Fall and winter are prime for fireside reading, so make room for new books by storing or donating books you don’t love or know you won’t reread. While you’re at it, take the opportunity to wipe down your shelving and reading areas. Use natural finds for decorations. For fall décor, consider utilizing produce like gourds, apples, pomegranates, and figs that follow a more subdued color palette. Arrangements with silvery green, white, and pale orange pumpkins are beautiful and elegant without screaming “fall.” To save yourself from the stress of a huge spring cleaning, follow these steps and ready your spaces for the approaching wet months. Once your home is warm and secure, you and your family will be free to enjoy this coziest of seasons in peace and comfort.

Transform Your Transitional Décor By: Lauryn Varnum Design Coordinator

efore selling a home, one of the most important steps is creating a design aesthetic that will appeal to the broadest audience. This often is manifested in transitional décor, which is characterized by a neutral palette and a lack of highly stylized fixtures, allowing an attractive, versatile aesthetic. However, after purchasing their home, new homebuyers often struggle with tailoring their new interior to fit their personal aesthetic. How do you alter your new home’s creamy, monochromatic palette to adjust to a warm, Tuscan vibe or a sleek, contemporary aesthetic? Fortunately, there are simple changes available that will instantly transform your home out of its inoffensive transitional style. Lighting Fixtures Transitional lighting fixtures follow suit with their parent style; they feature clean lines, neutral palettes, and simplistic designs. The most important rule followed by transitional fixtures is that one item should not dominate the décor of its space, thus allowing fixtures to be stylish but not stylized. Common transitional examples include a drum shade or a simple glass pendant. Lighting fixtures present a prime area to easily modify the aesthetic of your home’s décor. If modernity is desired, look for fixtures with clean, angular lines and constructions of metals and other hard materials. The industrial style is swiftly gaining traction; to adopt this aesthetic, look for fixtures that feature Edison bulbs, mixed-material constructions (such as wood with burnished bronze), or oversized elements. Changing out a simple drum shade for a contemporary, exposed-lighting chandelier instantly creates visual—and conversational—interest.

Textiles Since transitional décor utilizes monochromatic color schemes, an exchange of rugs can create a quick splash of visual appeal. Look for rugs with unique textiles to invigorate your rooms. A nubby wool rug will create a progressive, European aesthetic, and the tactile element will make a greige color scheme seem hip and slick. A distressed Moroccan rug with elaborate colors will infuse a bohemian vibe into any space. If a laid-back coastal vibe is more your speed, look for floor coverings with jute or woven bamboo elements. Art Black-and-white images of city skylines, advertising prints, and architectural details are common in transitional décor. These pieces yield a calm atmosphere, but can be swapped to create a more personalized feel. Mount canvas prints of vibrant watercolors or oil paintings to bring a classic style into your neutral space. Those who desire an urban aesthetic can easily experiment with wall graphics. No longer just for children’s playrooms, today’s wall coverings offer a sophisticated variety, ranging from representations of the works of famous artists to graphic prints that are perfect for statement walls.

Color Schemes While transitional color schemes tend toward monochromatic swathes throughout a home, adjusting the color of just one wall can have a large enough impact to replace the need to repaint your full interior. Pick a focal wall and experiment with bold palettes, breaking up the visual line. A strong, patterned wallpaper against one wall will draw the eye, and the pattern will create a new motif within a room. Art Deco angles will create a hip, vintage feel, while a traditional chinoiserie pattern will create a French Country theme. For an even simpler fix, paint a feature wall with a bold hue, like gold or scarlet, to revitalize your décor. By following these tips, transforming your move-in-ready transitional home can be done swiftly, easily, and cheaply. While many people use furniture to change their home’s style, these pieces can become muted by overwhelmingly neutral schemes or fixture selections. If you choose to alter even one of these aspects of your décor, it can enhance the aesthetic of your entire interior, allow your furniture selections to shine, and make your new house feel like a home.

- DeLeon Insight November 2016 15

The Evolution from the Uninformed Generalist to the Skilled Specialist By: Ken DeLeon, Esq. DeLeon Founder

uring one of my first classes at Berkeley Law (Boalt), I learned about the evolution of the practice of law. In the past, almost every lawyer was a general practitioner. While not an expert on any one area, this general practitioner knew just enough to superficially advise clients on a wide range of topics. Over time, as the complexity of the legal issues increased, so too did the requisite expertise to properly advise clients. The culmination of this can be seen at elite law firms such as Wilson, Sonsini, Goodrich & Rosati. While I was an attorney there, I specialized in my niche intellectual property practice, as did my colleagues. As a result, clients received the best support and service by employing a team of legal specialists, with all attorneys solely focusing on doing what they were best at within their respective limited domains of expertise. The growth of the practice of law has also been reflected in the field of medicine. Initially, a town doctor would make house calls and perform a large set of medical procedures, ranging from delivering babies to tending to the elderly. Now, highly efficient organizations such as the Palo Alto Medical Foundation and Stanford Hospital have doctors who specialize in niche practices to provide specialized insight and expertise. Having personally received exceptional care at the Stanford Cancer Center for lymphoma and thyroid cancer, I can thankfully attest to the successful treatments this level of specialization provides. This growth of specialization and resulting niche expertise has also spread to other fields such as finance and technology. However, the area of real estate has remained an island of calm and exhibited a lack of growth and change; that is, up until now. As the requirements to successfully prepare, market, and sell a home become

increasingly demanding in our cosmopolitan marketplace, the market forces of change and improvement have finally ushered in a new era of specialized teams leading the marketplace in residential real estate. In the past, one agent would try to do everything in regard to both listing and purchasing homes. When listing a home, this agent would seek to have the skillset of a contractor when evaluating the home’s condition, the insight of an interior designer when showcasing a home’s best attributes, marketing expertise to market the home both internationally and domestically, the acumen of an attorney when negotiating the deal and avoiding any legal pitfalls, and strong leadership to form the overall strategy. It is simply impossible for one person to possess all of these unique skillsets. To optimize our clients’ experience, each of our listings is assigned a team of specialists to ensure every home receives a completely comprehensive plan of attack. Led by Michael Repka, who has well over a decade

of experience in real estate law, each team member is tasked with a particular expert focus. Our contractor has a checklist he goes through and tries to fix as many problems as he can to allow for a cleaner property inspection. Our interior designer evaluates how to best present the home and which stager’s style is the best fit for the home’s architecture. Our copywriter writes a script

for the video tour as well as a brochure and ads to highlight the home’s strengths. Representatives from both our Chinese and Indian marketing departments write their own ads. Our social media specialist creates a strategy on how to best use ads on Google, Facebook, and other venues to market the home. This winning formula allows each of our employees the ability to do what they love the most and are best at while providing the highest level of service to our clients. While the cost of running such a team is high and, as a result, DeLeon Realty nets less per sale,

the great outcome this approach gives to our clients results in many referrals and resulting high volume. Most agents try to do everything, including listing, buying, and leasing homes. As a result, the typical agent’s expertise is diluted. Our buyer agents are all salaried specialists who each concentrate on a narrowly defined area. Through solely focusing on one community and only representing buyers, the buyer team can provide the level of knowledge one would expect from a true professional. By creating a business model that is

client-centric and reflective of our changing marketplace, DeLeon Realty has been able to grow our sales volume by over 50 percent this year, and other teams who emulate this all-inclusive model will also see their market-share grow. As sellers realize they need to choose their representation based on results and not merely a friendly relationship with their buyer agent, expect to see continued growth of real estate teams as the industry finally evolves, following this wave of increased specialization required to provide clients with the best service and outcome.

- DeLeon Insight November 2016 17

The Best Real Estate Website In Silicon Valley !

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Visit DeLeon Realty’s website for exclusive listings before they hit the MLS, alongside the most custom content in the industry. ®

(650)488-7325 | DeLeon Realty | CalBRE #01903224

Mechanic’s Lien Under California Law: Preliminary Notice By: Kyung Lee, Esq. Assistant General Counsel

ontractors and subcontractors have a number of remedies available under California law if they believe they are owed (but have not been paid) amounts for construction work performed at a property. One of these remedies is the mechanic’s lien. Specifically, a mechanic’s lien can be recorded against a property to secure payment by a person or entity who supplied labor or materials for improving that property. The purpose of the mechanic’s lien is to prevent property owners from taking unfair advantage of such improvements. The mechanic’s lien is a powerful tool; thus, in order to reap its benefits, a claimant must first comply with strict procedures under California law. For instance, among other things, in order to preserve the mechanic’s lien rights, a claimant must serve a preliminary notice on the property owner, direct contractor, and/or construction lender. “The notice provisions alert owners and lenders to possible claims against property or funds arising from contracts otherwise unknown to them. That notice, among other functions, affords the property owner the chance to protect his real property interest by requiring a bond, by naming both the direct contractor and the subcontractor as payees on checks written to pay for the work, or by requiring other proof that the direct contractor has paid the subcontractor” (Industrial Asphalt, Inc. v. Garrett Corp., 180 Cal.App.3d 1001, 1006, 1007 [Cal. App. 2d 1986]). The claimant should serve the property owner with a preliminary notice, even if the claimant has given verbal notice to the owner, and even if the owner has actual notice of the claim. There are several requirements for a preliminary notice, including the following: 1. All subcontractors and suppliers who provide labor or materials pursuant to a contract with the general contractor or a subcontractor must give preliminary notice. A claimant who has a direct contractual

relationship with the property owner must give preliminary notice only to a construction lender (if any). 2. A claimant must serve a preliminary notice no later than twenty days after the claimant first furnished labor, service, equipment, or materials to the job site. 3. The preliminary notice must include the following information: (a) a general description of the work to be provided, (b) an estimate of the total price of the work provided and to be provided, (c) the name, address, and relationship to the parties of the claimant, (d) the name of the person for whom the work is provided, (e) the name and address of the owner or reputed owner, the direct contractor, and the construction lender, and (f ) a description of the job site sufficient for identification, including the street address (if any). 4. The preliminary notice must include language stating (a) if the claimant is not paid in full for labor, service, equipment, or material provided or to be provided, a lien may be placed on the property, (b) that foreclosure of the lien may lead to loss of all or part of the property, and (c) that the owners may wish to protect themselves by requiring the claimant to provide a signed release or any other method appropriate under the circumstances. If a preliminary notice is required–but a claimant fails to give such notice or the notice fails to comply with California law– the claimant may not enforce a mechanic’s lien against the property owner. As such, © 2016 DeLeon Realty

if you are a property owner who has been served with a preliminary notice, you are well-advised to take a close look at the contents of the notice and determine whether the claimant has complied with the above requirements in the first place. While the mechanic’s lien performs an important role in making sure contractors are paid for work they properly perform, unscrupulous contractors could use the mechanic’s lien rules as a tool to extract an undeserved payment from a prospective seller. If you are working with the DeLeon listing team when the mechanic’s lien is filed, we will provide legal advice about your options at no additional charge. If you are working with another brokerage, you should immediately hire a competent residential real estate attorney to advise you on your legal rights and potential liabilities.

- DeLeon Insight November 2016 19

Work with the innovator! List your home with

DeLeon Realty DeLeon Realty will cover all of the following at no additional charge: Staging* | Property Inspection | Pest Inspection *Includes: Design, Installation, 1 Month of Furniture Rental and Removal Our clients love the personal attention they receive from Michael Repka, from beginning to end. Additionally you will receive a suite of free services from the DeLeon Team, including interior design, construction consulting, handyman work, and dedicated marketing to local and foreign buyers.

1 05 2 R ay Av enue, Los A l to s O f fer ed at $ 3,288,000

Elegant Spaces, Excellent Setting Enjoying a peaceful cul-de-sac setting on a lot of over 9,800 sq. ft. (per county), this 4 bedroom, 3 bath residence of approx. 3,000 sq. ft. (per county) built in 2011 offers a world of elegance and comfort. Columns, fine molding, and floors of walnut define the richly appointed yet highly livable spaces, which showcase a gleaming chef ’s kitchen and a sumptuous master suite. Highlights include energy-efficient features, a private guest bedroom, and an office. Spacious, freshly landscaped yards surround the home, encouraging outdoor living and entertaining. The unbeatable location is within strolling distance of shops, cafés, and top-ranking Los Altos schools.

For video tour & more photos, please visit: www.1052Ray.com

DeLeon Realty Listings

1 07 1 8 Mor a D ri ve, Los A l to s H i l l s (Uni ncor p or a ted Sa nta C l a r a C ounty ) P rice Upon Req uest

A World-Class Masterpiece Designed by acclaimed Swatt/Miers Architects, this gated, state-of-the-art residence holds 6 bedrooms and 8 full and 3 half baths within an easy stroll of gorgeous Rancho San Antonio Preserve. Built in 2016, this estate offers over 10,800 sq. ft. (per plans), including garage, on approx. 1.26 acres (per county). Seamless indoor and outdoor living areas overlook an infinity pool and present staggering bay views, and an additional parcel is available for expansion. Incredible features include invisible speakers, a posh theater, an elevator, and a fabulous guesthouse.

For video tour & more photos, please visit: www.10718Mora.com

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DeLeon Realty Listings 91 B elleau Avenue, A the rto n Of fer ed at $ 2,798,000

Park-Like Property in Lloyden Park Set amidst wide streets and stately mature trees, this 4 bedroom, 3 bathroom home of 2,070 sq. ft. (per county) occupies spacious grounds of 14,896 sq. ft. (per county) in prestigious Lloyden Park. Beamed ceilings and versatile spaces augment the charm of this updated home, which includes radiant floor heating. French doors open to an immense backyard with a rose garden, and the property also offers a two-car garage, abundant parking, and fruit trees. Stroll to Caltrain, and reach Holbrook-Palmer Park and acclaimed private schools within moments.

For video tour & more photos, please visit: www.91Belleau.com

345 West Costello Drive, Los Altos Of fer ed at $ 3,288,000

Upgraded Home in Garden Setting Nestled amidst extravagant gardens, this elegantly updated 5 bedroom, 4 bath residence of approx. 3,700 sq. ft. (per county) offers a sizable property of approx. 0.48 acres (per county) alongside a soughtafter cul-de-sac. Versatile, well-appointed rooms abound, and spacious living areas flow outdoors to terraces overlooking luxuriant spaces brimming with paths, planters, and fruit trees. The upper-level addition boasts a den, an office, and a posh master suite. This fine home also provides three fireplaces, an attached two-car garage, and plentiful upgrades. Savor the woodland views while living within moments of downtown Los Altos, Pinewood School campuses, and exceptional public schools.

For video tour & more photos, please visit: www.345WestCostello.com

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DeLeon Realty Listings

1 27 P in on Dri ve , Porto l a V a l l ey O f f er ed at $19,988,000

Lavish Woodland Sanctuary Flaunting elevated views of the Santa Cruz Mountains, this trophy residence designed by Michael Moyer celebrates natural privacy and one-of-a-kind amenities. Holding 3 bedrooms and 3 full and 3 half baths, the home also offers a 2 bedroom, 2 bath guesthouse and an interior clad with walnut and French limestone. Extraordinary highlights include a tri-stop elevator, a jaw-dropping wine cellar, and a palatial master retreat. A floating staircase leads to gardens offering waterfalls, a spa, and a fully functional guesthouse. Undevelopable open space surrounds the two parcels of nearly 18 acres (per county) that form this property, ensuring continuous privacy and unspoiled panoramas.

For video tour & more photos, please visit: www.127Pinon.com

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DeLeon Realty Listings 43 7 C ollege Ave nue, Pa l o A l to Of fer ed at $ 1,988,000

Luxurious Townhome Near California Avenue Within strolling distance of exceptional local amenities, this upgraded 4 bedroom, 4 bath townhome of approx. 2,300 sq. ft. (per appraisal) integrates luxury and versatility within a peaceful, convenient community. The flexible layout can easily accommodate any lifestyle, and includes two fireplaces, soaring ceilings, and an interior bathed in natural light. Highlights like private decks, newly remodeled bathrooms, and two posh master suites make this lofty retreat highly desirable. This community is mere steps to Stanford University, Caltrain, and exciting California Avenue, including Michelin-rated dining, and will also allow you to easily reach top-ranking schools like Escondido Elementary (API 927), Jordan Middle (API 934), and Palo Alto High (API 905) (buyer to verify eligibility).

For video tour & more photos, please visit: www.437College.com

41 Maple Avenue, Atherton Of fer ed at $ 3,388,000

Storybook Home with Timeless Appeal Let the undeniable charm of this home transport you to the world of yesteryear. Set amidst pristine gardens, this 4 bedroom, 4 bath residence of over 2,500 sq. ft. (per county) occupies gated premises of just over one quarter-acre (per county) and has been remodeled with the utmost respect to the home’s authenticity. Delicate details elevate its idyllic character, while spaces like the stately living room and the rustic family room with a bar form unforgettable gathering areas. Outdoor amenities include a barbecue and a heated pool and spa. Stroll to Holbrook-Palmer Park, and enjoy quick access to downtown Menlo Park and topranking schools.

For video tour & more photos, please visit: www.41MapleAve.com

DeLeon Realty Listings

1 24 5 Hamilt o n A venue, Pa l o A l to O f f er ed at $7,988,000

Exquisite Luxury in Crescent Park Captivating gardens trim this recently remodeled 5 bedroom, 4.5 bath residence of over 4,100 sq. ft. (per plans) that provides a poolhouse and delightful grounds of 12,000 sq. ft. (per city). Enjoy a flexible, walk-out lower level and soothing, sun-lit spaces bursting with classic charm and modern amenities, while an upper patio overlooks the poolside retreat. The versatile poolhouse offers a wet bar and a wall-bed. Stroll to popular University Avenue, Eleanor Pardee Park, and Duveneck Elementary (API 956) (buyer to verify eligibility).

For video tour & more photos, please visit: www.1245Hamilton.com

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DeLeon Realty Listings 88 1 Un iv er sit y A venue, Los A l to s Of fer ed at $2,488,000

Ideally Located and Inviting Alongside a calm cul-de-sac, this appealing home provides a fireplace, comfortable gathering areas, and hardwood floors. The bedrooms are designed for flexibility, while the outdoors provide an inviting front porch and a spacious backyard with patios. Within moments of downtown Los Altos, you can stroll to Covington Elementary (API 975), and quickly access Pinewood School campuses, Blach Intermediate (API 958), and Los Altos High (API 895) (buyer to verify eligibility).

For video tour & more photos, please visit: www.881University.com

820 Hamilton Avenue, Palo Alto Of fer ed at $ 3,279,000

Posh Desirability in Crescent Park Occupying a neighborhood with a distinguished pedigree, this tri-level 4 bedroom, 2 bath residence of nearly 2,200 sq. ft. (per seller) built in 1920 stands on a lot of nearly 6,000 sq. ft. (per city) within a stroll of exciting downtown Palo Alto. French windows and authentic fixtures endow the home with a sense of history, while upgraded bathrooms and a tastefully remodeled kitchen deliver contemporary luxury. The lower level is ideal for media entertainment, and outdoor retreats include an upper-level deck and an idyllic backyard haven. Stroll to Addison Elementary (API 947) and alluring University Avenue, or quickly bike to Caltrain and other outstanding Palo Alto schools (buyer to verify eligibility).

For video tour & more photos, please visit: www.820Hamilton.com

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DeLeon Realty Listings

1 23 8 0 G igli Co urt, Lo s A l to s H i l l s O f f er ed at $5,988,000

Luxurious Gated Oasis Lush, tropical landscaping accents this spellbinding 5 bedroom, 4.5 bathroom home of 5,530 sq. ft. (per county) that offers gated grounds of 1.11 acres (per county). The alluring interior displays vaulted ceilings, luxurious updates, and gorgeous spaces that include a gourmet kitchen, a regal master suite, and an office. Boasting peace and privacy, the residence also provides five fireplaces, a three-car garage, and a versatile poolhouse. You will have prime access to Highway 280, Fremont Hills Country Club, and terrific PAUSD schools.

For video tour & more photos, please visit: www.12380Gigli.com

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DeLeon Realty Listings

2 6 9 9 1 Taaf fe Ro a d , Los A l to s H il l s O ff er ed at $7,998,000

New Executive Villa Enjoys Bay Views Built in 2015, the extraordinary residence offers 6 bedrooms, 7 full and 2 half baths, and over 7,500 sq. ft. (per project summary). This entertainment-friendly design enjoys lavish features like an elevator, a home theater, a wine cellar with a tasting room, and a gym with a sauna. Faced by a gated motor court, the grounds of approx. 1.2 acres (per county) provide seamless indoor/outdoor transitions and stunning bay views. This luxury masterpiece easily accesses local trails and desirable LASD schools (buyer to verify eligibility).

For video tour & more photos, please visit: www.26991TaaffeRoad.com

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DeLeon Realty Listings

2 78 1 1 Saddle Court, Lo s A l to s H i ll s O f f er ed at $6,988,000

Hilltop Solitude with Panoramic Views Well-appointed indoor and outdoor spaces take full advantage of the astonishing vistas displayed throughout this 5 bedroom, 6.5 bathroom home of 6,598 sq. ft. (per county), which includes grounds of 1.94 acres (per county). The multi-level design is equipped for grand-scale entertaining and boasts five fireplaces, two kitchens, an indoor pool, and a garage that can hold five cars. Within moments of Highway 280, this captivating home balances privacy and natural beauty with prime convenience to urban amenities, including excellent Palo Alto schools (buyer to verify eligibility).

For video tour & more photos, please visit: www.27811Saddle.com

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DeLeon Realty Listings

13 9 2 0 Mir Mi rou D ri ve, Los A l to s Hi l l s Off er ed at $4,988,000

Modern Refinement and Stunning Scenery Occupying a cul-de-sac setting of 3.76 acres (per county), this extensively remodeled 4 bedroom, 4.5 bath residence of 4,831 sq. ft. (per county) enjoys scenic bay views. The spacious, breezy layout includes exciting amenities and oversized entertaining areas, plus a versatile lower level, perfect for an in-law suite. Romantic outdoor spaces and an attached three-car garage complete this elegant home, which lies just outside Palo Alto Hills Golf and Country Club. Stroll to local trails and easily access top-performing Palo Alto schools (buyer to verify eligibility).

For video tour & more photos, please visit: www.13920MirMirou.com

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DeLeon Realty Listings

2 37 Mapache D ri ve, Porto l a V a l l ey O f f er ed at $8,888,000

Fabulous Resort-Like Compound Immersed in natural privacy, this gated, creek-side property of 3.33 acres (per county) forms one of the largest flat lots in Portola Valley. The luxuriously upgraded estate is every entertainer’s dream, and includes a guesthouse, a poolhouse, and a studio for a total of 5 bedrooms, 7.5 bathrooms, and a living area of approx. 8,100 sq. ft. (per drawings). Excellent amenities include six-car garage parking, a sauna, and a heated pool and spa. Stroll to trails throughout the surrounding woodland paradise while easily accessing local shopping and scenic open spaces.

For video tour & more photos, please visit: www.237Mapache.com

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DeLeon Realty Listings

15 1 Seale A venue, Pa l o A l to Off er ed at $5,688,000

Luxury Craftsman in Old Palo Alto Style, grace, and function harmonize in this contemporary Craftsman 6 bedroom, 4.5 bathroom home of over 4,600 sq. ft. (per plans), including garage, that is tucked within highly coveted Old Palo Alto. Elegantly appointed and flexibly designed, this brand-new home enjoys a divine island kitchen, two laundry areas, and a walk-out lower level with a bar and a potential wine cellar. The property of 7,500 sq. ft. (per county) is immaculately landscaped, and the garage can serve as a studio. With just moments to Stanford University, California Avenue, and Town & Country Village, you can also easily bike to soughtafter Palo Alto schools.

For video tour & more photos, please visit: www.151SealeAve.com

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DeLeon Realty Listings

1 20 0 8 Adobe Creek Lo d g e Ro a d , L os A l tos Hi l l s O f f er ed at $6,988,000

Rich Living, Alluring Serenity Located along an exclusive cul-de-sac, this regal, gated 6 bedroom estate of 6,480 sq. ft. (per county) includes 6 full and 2 half baths, and exudes peace and privacy on premises of approx. 1.67 acres (per county). Reached by an extensive paver driveway, the mansion includes a four-car garage, three fireplaces, a library, a summer kitchen, and numerous rooms designed for versatility. Marble finishes and columned living spaces underscore the luxurious ambience, while the immense grounds offer a heated pool. Stroll to trails leading into Rancho San Antonio Open Space Preserve, quickly bike to Hidden Villa, and enjoy easy access to prime Los Altos schools.

For video tour & more photos, please visit: www.12008Adobe.com

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DeLeon Realty Listings

2 8 5 0 0 Mat ad ero Creek Lane, Los A l tos Hi l l s O ff er ed at $9,988,000

Dreamy Tuscan Estate Custom-built on a stunning gated property of 4.4 acres (per county), this 6 bedroom estate of approx. 6,400 sq. ft. (per county) provides 6 full and 3 half bathrooms and a charming cabana. Blending Italianate beauty with modern luxuries, this welcoming villa offers outstanding living spaces. The enchanting grounds provide a designer play fort, an infinity pool, and a hilltop parcel with scenic bay views, awaiting further development. Palo Alto Hills Country Club and top Palo Alto schools are easily accessible (buyer to verify eligibility).

For video tour & more photos, please visit: www.ExclusiveTuscanEstate.com

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DeLeon Realty Listings

3 75 Walsh R oa d , A the rto n O f f er ed at $4,988,000

Woodland Retreat in Exclusive Atherton Tucked within leafy grounds of over an acre (per county) that establish natural privacy, this treehouse-like 4 bedroom residence of 3,120 sq. ft. (per county) with an additional lower level provides 3 full and 2 half baths, and an adjacent parcel of almost an acre (per county) is also available for development. The breezy floorplan ideal for entertaining accesses an elevator and a garage with a studio. Alluring outdoor areas include a pool and multiple decks. Unusual for elite Atherton, the property offers hillside living, yet retains excellent proximity to prestigious clubs and private schools.

For video tour & more photos, please visit: www.375Walsh.com

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DeLeon Market Conditions Atherton Snapshot Atherton Median Sales Price & Price/Sq. Ft. Ratio

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Cupertino Snapshot Cupertino Median Sales Price & Price/Sq. Ft. Ratio

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Hillsborough Snapshot Hillsborough Median Sales Price & Price/Sq. Ft. Ratio

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DeLeon Market Conditions Los Altos Snapshot Los Altos Median Sales Price & Price/Sq. Ft. Ratio

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Los Altos Hills Snapshot Los Altos Hills Median Sales Price & Price/Sq. Ft. Ratio

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Menlo Park Snapshot Menlo Park Median Sales Price & Price/Sq. Ft. Ratio

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DeLeon Market Conditions Mountain View Snapshot Mountain View Median Sales Price & Price/Sq. Ft. Ratio

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Palo Alto Snapshot Palo Alto Median Sales Price & Price/Sq. Ft. Ratio

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Portola Valley Snapshot Portola Valley Median Sales Price & Price/Sq. Ft. Ratio

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DeLeon Market Conditions Sunnyvale Snapshot Sunnyvale Median Sales Price & Price/Sq. Ft. Ratio

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Redwood City Snapshot Redwood City Median Sales Price & Price/Sq. Ft. Ratio

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Woodside Snapshot Woodside Median Sales Price & Price/Sq. Ft. Ratio

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- DeLeon Insight November 2016 39

PRSRT STD ECRWSS U. S. Postage Paid Palo Alto, CA Permit No. 1

DeLeon Realty 1717 Embarcadero Road Palo Alto, CA 94303

LOCAL POSTAL CUSTOMER

650.488.7325 | www.deleonrealty.com | CalBRE #01903224