Real Estate Update in Palo Alto & Los Altos

Real Estate Update in Palo Alto & Los Altos

Brand name kitchen and bathroom fixtures for less!

262 LYELL ST, Los Altos 94022

February 18th, 2009 · No Comments

262 LYELL ST, Los Altos 94022

$2,755,000                           SqFt: 2,860

Review:

Custom built in summer of 2008, this elegant single-level home sits on a quiet cul-de-sac lot walking distance to town. Highest quality materials, designer fixtures, soaring ceilings, chef’s kitchen, huge family room, gorgeous master suite. DO NOT MISS!
Exquisite Designer-Appointed Elegance Contemporary sophistication blends seamlessly with traditional style at this exceptional home in North Los Altos. Custom built in summer of 2008, this elegant single-level home sits on a quiet cul-de-sac lot walking distance to town. This beautifully designed 4-bedroom, 3-bathroom home features hand-selected materials throughout, including clear-grade walnut hardwood flooring, Calacatta and Carrara marble slabs, custom wine cabinet and elaborate moldings and millwork. Consummate comforts include top-of-the-line kitchen appliances, designer bathroom fixtures, European light fixtures, and a built-in sound system. Outside, a rear entertainment terrace and park-like lawn allow for entertaining and endless relaxation. Completing the property’s appeal is its close proximity to shopping and dining in the Village. Summary of the Home • Single-level home with 4 bedrooms and 3 full bathrooms • Striking architectural details include soaring ceilings, custom windows, walnut hardwood flooring, Ralph Lauren carpet, designer light fixtures, and abundant use of imported natural stones • Marble-finished formal entrance with eye-catching crystal chandelier and art niche • Formal dining room with coffered ceiling and soft uplighting, built-in speakers, dazzling crystal drop chandelier, and two solar tubes for natural lighting; a double-sided Calacatta honed marble-slab serving counter is flanked by two temperature-controlled custom wine cabinets with approximately 400-bottle capacity • Tremendous granite-finished chef’s kitchen with self-closing custom cherry cabinetry, breakfast bar, and a farmhouse sink framed by a garden window; top-quality appliances include a 6-burner Viking Professional range, Miele dishwasher, pot filler, U-Line wine cooler, and GE Monogram refrigerator/freezer, plus a Viking Professional convection wall oven and microwave; custom-designed pantry • Sunny breakfast room overlooking the backyard with French doors to the terrace • Bright and spacious great room with marble-finished, wood-burning fireplace flanked by arched windows, custom built-in cabinetry and state of the art built-in audio system • Privately situated luxurious master bedroom suite with coffered ceiling adorned with rope lighting, gas-log fireplace, two sets of double French doors to the grounds, and a custom-designed walk-in closet for him and her; spa-like master bathroom finished in Crema Marfil honed marble includes a whirlpool tub, frameless glass-enclosed shower with sapphire glass, body sprays and a rain shower, makeup counter, and two separate vanities with vessel sinks • Bedroom suite with designer carpeting, cathedral ceiling, customized wardrobe closet; en suite bath in marble tile with double-vessel sink and frameless glass-enclosed tub with overhead shower • Well-appointed guest bedrooms serviced by a cararra marble-finished designer bath • Wired with state of the art audio system

Property Features:

Familyroom
Family Room Kitchen

Informal Dining Area
Breakfast Room
Eat in Kitchen
Breakfast Bar

Other Rooms
    - -

Bedroom Descriptions
2 or More Master Suites

Shower And Tub
1 Shower over Tub

Shower
2 or More Stall Showers

Other Areas
Formal Entry
Laundry Area - Inside
Pantry
Attic

Amenities
220 Volts in Kitchen
220 Volts in Laundry Area
Bay Windows
Cable TV Available
Central Fire Alarm
Double Pane Windows
Gas Hookup in Kitchen
Gas Hookup in Laundry Area
Gas Water Heater

Fireplace Location
Fireplace in Family Room
Fireplace in Master Bedroom

Floor Covering(S)
Hardwood
Marble
Wall to Wall Carpeting

Energy Features
    - -

Listing Includes
1 Dishwasher
1 Refrigerator
2 or More Ovens
Built-In Oven
Disposal
Free Standing Range/Oven
Microwave Oven
Cooktop Range

Garage/Parking
2 Car Garage
Attached
Electric Door or Gate Opener

Lot Description
Cul-de-Sac Lot
Level Lot

View
Neighborhood View

Yards/Grounds
Automatic Sprinkler(s)
Fenced Yard
Sprinklers - Front
Sprinklers - Rear

Has Pool
No Pool

Pool Description
    - -

Pool Options
    - -

Style
Traditional
Contemporary

Horse Property
No

Horse Property Description
    - -

Open House Info: 
Sun  2/22  1:30-4:30  Yvette Stout 
 Open House Remarks: DO NOT MISS! Stunning single-level custom 2008 construction on a quiet cul-de-sac lot walking distance to town. Finest materials, soaring ceilings, a true chef’s kitchen, open family room, gorgeous master suite, a park-like backyard with fountain..
 
 
Listing Agent/Office Information:
Yvette Stout (DRE#01461495)
Alain Pinel Realtors  Pref Phone:                65…       ,  Email: ystout@apr.com
Pref Fax: 650-941-1411,  Off Ph:                65…       ,  ,  Off Fx: 650-941-1411 

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Los Altos November 2008 Sales

December 8th, 2008 · No Comments

Address                        Bed/Bath      Sq.Ft.       List Price          Sale Price           DOM

175 Galli Dr                  5/3                2773         $2,395,000      $2,438,000         7

692 Meadow ln            4/2.5             2194        $1,798,000       $1,770,000         15

423 Aroleda Dr            4/3                2574        $1,799,000       $1,610,000         117

1350 Fairway Dr         4/3                2265        $1,550,000      $1,500,000         63

1530 Tiptoe Ln            3/2                1807        $1,568,000       n/a                       46

1142 Lisa Ln                 3/2                1298        $1,290,000     $1,333,125            8

510 Outlook Dr            3/2                2250        $1,499,000     $1,310,000          65

1421 Ranchita Dr         3/1                1184         $1,199,000     $1,183,700           13

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Short Sale vs. Foreclosure

November 22nd, 2008 · No Comments

Q. I am in default on 12 jointly-owned properties that I am trying to liquidate as part of a divorce. All of my properties are currently worth less than the mortgage balances, due to the tough real estate market. I am aware that I will likely be taxed for the amount of the mortgage I had that is not satisfied by any particular short sale. It seems that this would not be the case if the house is foreclosed on, or becomes bank-owned.

This almost encourages homeowners to allow foreclosure, rather than to participate in helping to sell the property (when there is no equity left), because there is not “an amount forgiven” to be taxed on. I recognize that the benefit of short-sale is to lessen the effect on one’s credit report, but if a homeowner is already missing payments, how much worse will a foreclosure look?

A. Although you own an unusual number of homes, your dilemma in trying to choose between a short sale and a foreclosure is, sadly, not at all unusual these days. So I asked Craig Watts, public affairs manager of Fair Isaac Corporation in San Francisco, to comment on your case. Fair Isaac is the company that created the FICO score, used by lenders to assess borrowers’ creditworthiness.

Mr. Watts said that the company assesses every negative on a credit report by three factors: recency (how recently did the negative event occur), severity (how late is the payment) and frequency (how many times you’ve been reported delinquent on credit obligations).

[image] Getty Images

A recent bankruptcy does the most damage to your score. Mr. Watts adds that if lenders are reporting all of your mortgages as in default, the damage to your FICO score would be akin to declaring bankruptcy on all 12 accounts. For more information on credit scores and how they are calculated, visit the “credit education center” at www.myfico.com.

Although a short sale, where the lender agrees to take less than owed on the mortgage, will drop your FICO score as much as a foreclosure will, there is one advantage to it: You may be eligible to buy a home with an institutional loan backed by Fannie Mae or Freddie Mac more quickly than you would if it went into foreclosure.

Lenders encourage short sales over foreclosures because they generally net more from them, since foreclosures incur additional marketing, legal, processing and carrying costs. (For details, see Fannie Mae’s announcement 0-82.) Borrowers can be considered for loans following a short sale aftter 24 months, if the sale was caused by extenuating circumstances outside of a borrowers’ control, or 48 months if it was the result of financial mismanagement on the borrower’s part, according to Freddie Mac public relations director Brad German.

As for your tax situation: because of the Mortgage Forgiveness Debt Relief Act of 2007 and the recently passed Emergency Economic Stabilization Act, you can exclude up to $2 million of income ($1 million if married filing separately) from debt that’s discharged through mortgage restructuring, or that’s forgiven in connection with foreclosure, for the years 2007 through 2012. The exclusion must be connected with a decline in the home’s value or the taxpayer’s financial condition, and only applies to a principal residence, not investment properties. You can claim relief on your principal residence through IRS form 982. However, Mike Martin, a financial consultant and tax advisor in Independence, Mo., notes that there may be other provisions in the law that can help you: For instance, if you are insolvent when your debt is cancelled, some or all of that debt may not be taxable.

Given the complexity of your situation, please don’t try to resolve this situation on your own: Seek professional tax and legal advice.

→ No CommentsTags: Home Mortgage

301 BLUE OAK LN, Los Altos 94022

September 20th, 2008 · No Comments

301 BLUE OAK LN, Los Altos 94022

$ 1,649,000                       SqFt: 1,868

Review:

Wonderful creekside property tucked away on a private cul-de-sac in one of Los Altos most desirable neighborhoods. Lot is bordered on back and right side by a creek. Blocks to town. Sold “AS IS”.
Wonderful creekside property tucked away on a private cul-de-sac in one of Los Altos most disirable neighborhoods. Lot is almost 18,000 square feet. Lost is bordered on back and right side by a creek and mature oak trees. Priced at lot value the home needs some work. Sewer is on its way and has been voted in. The home features 2 fireplaces and an indoor BBQ. Huge brick is perfect for entertaining. Plenty of room for vegetable gardens etc. Blocks to downtown Los Altos. Sold in “AS IS” condition. Have all the reports.

Location:     Google map

Property Features:

Familyroom
Family Room Kitchen
Separate Family RoomInformal Dining Area
Eat in Kitchen

Other Rooms
    - -

Bedroom Descriptions
Ground Floor Bedroom
1 Master Bedroom Suite

Shower And Tub
1 Shower over Tub

Shower
2 or More Stall Showers

Other Areas
Extra Storage
Formal Entry
Laundry Area - Inside

Amenities
Inside BBQ
220 Volts in Kitchen
220 Volts in Laundry Area
Bay Windows
Ceiling Fan(s)
Gas Water Heater
Security Fence/Perimeter
Vaulted/Cathedral CeilingFireplace Location
Fireplace in Family Room
Fireplace in Living Room

Floor Covering(S)
Hardwood
Linoleum or Vinyl
Tile

Energy Features
    - -

Listing Includes
1 Dishwasher
1 Refrigerator
Built-In Oven
Microwave Oven
Self Cleaning Oven
Cooktop RangeGarage/Parking
2 Car Garage
Attached
Electric Door or Gate Opener

Lot Description
Level Lot
River/Stream/Lake Lot

View
Neighborhood View

Yards/Grounds
Automatic Sprinkler(s)
Barbecue Area
Fenced Yard
Patio
Patio or Deck CoveredHas Pool
Pool

Pool Description
Pool - in Ground Concrete

Pool Options
Gas Heated Pool
Pool Sweep Included

Style
Ranch

Horse Property
No

Horse Property Description
    - -

Open House Info:
Sat  9/20  1:30-4:30  Barbara Cannon 
Sun  9/21  1:30-4:30  Barbara Cannon 
 Open House Remarks: Wonderful ranch style home tucked away on a cul-de-sac blocks to town. Huge lot.
 
 
Listing Agent/Office Information:
Barbara Cannon (DRE#00992429)
Coldwell Banker-Los Altos First Street  Pref Phone: 650-947-2211,  Email: barbara.cannon@cbnorcal.com
Pref Fax: 650-948-3749,  Off Ph: 650-948-0456,  ,  Off Fx: 650-948-3749 
 
 
 
 

→ No CommentsTags: Los Altos Homes

656 PALM AVE, Los Altos 94022

September 13th, 2008 · No Comments

656 PALM AV, Los Altos 94022

$1,795,000                            SqFt: 2,237

Remarks:
Old Los Altos, updated craftsman, 3/3 with stunning master suite. The original gate house for one of the neighborhood mansions of old. Lots and lots of original detail, built ins. Large Living room. Chef’s kitchen with stainless steel appliances, cherry cabinets and granite counters. Master Suite has skylights everywhere! Sleep in the trees! Guest cottage, large studio with full bath and kitchen. Wrap around brick patio with several sitting areas, great for entertaining, and mature plantings. Wysteria! Bougainvillea! Barbeque area, large spa, 2 car garage and workshop. lots of storage and parking. Side yard perfect for outdoor dog area.

Property Features:

Familyroom
No Family Room

Informal Dining Area
Breakfast Bar

Other Rooms
Workshop

Bedroom Descriptions
Ground Floor Bedroom
1 Master Bedroom Suite

Shower And Tub
1 Shower over Tub

Shower
2 or More Stall Showers

Other Areas
Extra Storage
Guest House
Laundry Area - Inside
Pantry
Partial Basement

Amenities
Attic Fan
Cable TV Available
Ceiling Fan(s)
Double Pane Windows
Gas Hookup in Kitchen
Gas Hookup in Laundry Area
Gas Water Heater
Satellite Dish
Skylight(s)

Fireplace Location
    - -

Floor Covering(S)
Hardwood
Slate
Tile
Wall to Wall Carpeting

Energy Features
    - -

Listing Includes
1 Dishwasher
1 Refrigerator
Disposal
Free Standing Range/Oven
Self Cleaning Oven

Garage/Parking
2 Car Garage
Alley Access
Electric Door or Gate Opener

Lot Description
Level Lot

View
Neighborhood View
View of Mountains

Yards/Grounds
Automatic Sprinkler(s)
Barbecue Area
Fenced Yard
Patio
Patio or Deck Covered

Has Pool
No Pool

Pool Description
    - -

Pool Options
    - -

Style
Craftsman

Horse Property
No

Horse Property Description
    - -

Open House Info:
Sun  9/14  1:30-4:30  Leslie Pappas 
Sun  9/21  1:30-4:30  Leslie Pappas 
 
Listing Agent/Office Information:
Leslie Pappas (DRE#01347120)
Coldwell Banker-PA Downtown  Pref Phone: 650-752-0718,  Email: Leslie@LesliePappas.com
Pref Fax: 650-322-3606,  Off Ph: 650-325-6161,  http://www.LesliePappas.com,  Off Fx: 650-322-3606 

→ No CommentsTags: Los Altos Homes