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Archive for the ‘Luxury Estate’ Category

Is your property tax assement too high?

Posted in Estate, Los Altos Estate, Los Altos Luxury Estate, Los Altos Real Estate, Luxury Estate, Luxury Real estate, Palo Alto Real Estate, Real Estate, tagged , , , , , , , , , , , , , on July 24, 2012 | Leave a Comment »

Recently the $100 million dollar residential estate sold in Los Altos Hills (2011) attracted attention when the Tax assessor determined the property would receive a reduced assessed value of $50 million.  That cut the property tax bill from about $105,000 per month to about $52,000 per month.

If your property tax assessment is too high the deadline to apply for a reduction is August 1st (October 1 for San Mateo County?)

Here are link to the Santa Clara County Property tax assessment decline in value page:  https://www.sccassessor.org/index.php/online-services/decline-in-value/decline-in-value-request

A link to San Mateo County Property tax assessment page: http://www.smcare.org/assessor/homeownerresources/form_declineapp.asp

Some notes from the Santa Clara County website:

CONSIDERATIONS WHEN FILING A REQUEST FOR AN INFORMAL REVIEW:

  •  The review process is intended for property owners who believe the total assessed value as shown on the Notification of Assessed Value exceeds the market value of their property as of January 1st.
  •  The review can lead to either an increased or reduced assessment, depending on the Assessor’s determination.

BEFORE REQUESTING A REVIEW:

  •  Have your Notification of Assessed Value available. It contains your Assessor’s Parcel Number (APN) and PIN. Both are required to file a review request.
  • Be prepared to identify and list sales of comparable properties that you believe support your opinion of value. Sales transacting after March 31st cannot be considered in the review.
  • Remember, the informal review filing period begins June 29th and ends August 1st. Results of the Assessor’s review will be sent shortly after August 15th. At any time from July 2 through September 17, property owners may file Applications for Changed Assessment (appeals) to formally dispute the assessment. Applications for Changed Assessment (appeals) are heard by Assessment Appeals Boards, independent of the Assessor’s Office.

Visit my website at www.DavidBergman.com

Information believed accurate but not guaranteed

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Largest sale in Los Altos Hills in 2012 as of 07/23/12

Posted in Atherton, Estate, Los Altos Estate, Los Altos Luxury Estate, Los Altos Real Estate, Luxury Estate, Luxury Real estate, Real Estate, tagged , , , , , , , , , , , , , , , , , , , , , , , on July 23, 2012 | 1 Comment »

As of July 23, 2012 the largest sale year to date in Los Altos Hills closed last friday.

The list price was $14.8 million on Via Feliz. The sale price is being withheld. The property is on 3 lots for a total of just over 6 acres. The property has good privacy and multiple entrances. It was the home of John Chambers – he has moved to a larger property nearby. The home is 19 years old. The new buyer is from China. I was not a party to the sale.

There are bargains in Los Altos Hills – compare what you can purchase in Los Altos Hills to Atherton – and you will be impressed with how much more you get in Los Altos Hills – some great values out there. Foreign buyers are recognizing the value and desirability of Los Altos Hills and buying.

More at my website: www.DavidBergman.com

Information believed reliable but not guaranteed.

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Looking for Luxury – where are the best deals?

Posted in Los Altos Estate, Los Altos Luxury Estate, Los Altos Real Estate, Luxury Estate, tagged , , , , , , , , , , , , , , , , , , , on April 20, 2012 |

The luxury market – over $10 million properties continue to sell.  Two properties recently went in contract in Atherton – listed at $19.8 million and $15.3 million.  Where are the best deals for Luxury properties?  Look not far from Atherton in Woodside and Los Altos Hills.  2 days ago a property on W Fremont in Los Altos Hills reduced its price from $12.750 million to $11.25 million.  An incredible price is a listing on Vinedo Lane at $12.995 million www.VinedoEstate.com (A co-listing with Mary Gullixson and myself).  There are many “off the multiple listing service” properties that are kept confidential – call me for a confidential review of the market and those listings.  The bargains right now are in Los Altos Hills for properties listed over $10 million.

More at my website http://www.davidbergman.com

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Price reduced at Estate in Los Altos Hills

Posted in Los Altos Estate, Los Altos Luxury Estate, Luxury Estate, Real Estate, tagged , , , , , , , , , , , , , , on April 18, 2012 | 1 Comment »

Yesterday the estate on W Fremont had a price reduction from $12,750,000 to $11,250,000.  This is a modern styled estate built by Mark Blackman in 2010.  More details at my website www.DavidBergman.com.  The home features many of the latest technology features.  located a Short distance to downtown Los Altos.

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Mega Mansions in the United States

Posted in Los Altos Estate, Los Altos Luxury Estate, Luxury Estate, Real Estate, tagged , , , , , , , on February 10, 2012 | Leave a Comment »

Big is back – article in the Wall Street Journal.  We see this to some degree in the Silicon Valley, Atherton, Los Altos Hills, Woodside area – but Most new estates are 10,000 to 30,000 square feet – with the average new estate probabbly just below 15,000 square feet (total square footage). Read more at the link above to hear the National perspective according to the WSJ.  There are restrictions – sometimes financial and sometimes governmental (zoning, etc) on house size.  http://online.wsj.com/article/SB10001424052970203824904577213634206073476.html#slide/1

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Facebook effect on Real Estate

Posted in Los Altos Luxury Estate, Luxury Estate, Palo Alto Real Estate, Real Estate, tagged , , , , , , , , , , , , , on February 3, 2012 | Leave a Comment »

Will the Facebook IPO have an effect on the luxury home market?

It’s already been happening.  Shares of Facebook and other non-public companies have been traded in the secondary market – so we have already seen buyers trading their Facebook shares (and employee/shareholders of other private companies) and buying real estate.  After a company goes public – there is a lockup period – where shares are “locked up” for a time period – many times 180 days.  They cannot sell them.

Multiple offers are the standard in Palo Alto, certain homes in Los Altos Hills, Los Altos, Mountain View, and Menlo Park.  The upper end of the market – that being over $10 million is moving in Atherton.  In 2011 the largest sale in Atherton was over $50 million.  At least 8 properties priced over 10 million sold in addition to that big one in 2011.  Builders in Atherton are building $10 million, $20 million dollar homes to sell to this year (commonly called spec homes) – there will be about 8-10 homes for sale in Atherton priced over $10 million in the next few months.  There is a large market of homes that are for sale but not visible to the general public (off market).  You have to work with an agent connected to that off market network to find the “off market homes”.  The Los Altos Hills Luxury market has not been as strong as Atherton.   There was the $100 million sale in 2011 but other than that not a lot of estates have sold.  There are bargains in Los Altos Hills right now – and I would expect the Los Altos Hills Luxury Market to tighten in the next 6 months.

Woodside had 3 sales over 10 million in 2011.

The luxury market – Sellers and buyers want their privacy respected.  The expectation is that all players in the transaction will respect that.

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Another sold Estate in Los Gatos, CA

Posted in Luxury Estate, Real Estate, tagged , , , , , , , , , , on February 3, 2012 |

Another sold estate in Los Gatos.  This one sold for $11.5 million.  Good sign for the luxury market.  Main House was about 13,000 square feet and has great views.

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IPO’s and luxury home sales

Posted in Los Altos Luxury Estate, Luxury Estate, Real Estate, tagged , , , , , , , , , , , on November 21, 2011 | Leave a Comment »

The Silicon Valley real estate market will be impacted by coming IPO’s. I keep a list on my desktop of the hottest ones – with Facebook rumored as coming soon – the luxury real estate market will see increased demand for estates in Silicon Valley. Demand is strong now in select markets – and there are only so many large estates in the Bay Area. We will likely see the areas with the highest market demand sell first – and that demand will leak over to other areas. There have recently been significant sales in the Bay Area of estates – both on and off market. Here is the article that primed this blog post:

http://www.cityam.com/news-and-analysis/investors-prepare-facebook-s-ipo

 

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Households with $30 million or higher wealth

Posted in Los Altos Estate, Luxury Estate, tagged , , , , , , , , , , on May 25, 2011 |

China, Brazil and India will likely all be in the top 10 in total households with wealth over $30 million per household within the next decade.

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Sinapore – wealthy in 2020

Posted in Los Altos Luxury Estate, Luxury Estate, tagged , , , , , , , , , , , , on May 23, 2011 |

Singapore is likely by 2020 to have the highest percentage of households with a net worth of $30 million US dollars.  The percentage of households in Singapore with $30 million or more net worth is expected to be 1.82% of the total households.   This percentage is well above other leading countries including Switzerland, Hong Kong and the United States.

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