OPEN HOME GUIDE 70 Also online at PaloAltoOnline.com Home Front Home & Real Estate by Elena Kadvany n a small East Palo Alto street, just blocks from U.S. Highway 101, 15 people share three houses, a trailer, a diverse fruit and vegetable garden, meals and household tasks. Like a tightly knit family, they shop for groceries together, make dinner for each other, watch each other’s children and support each other. These 15 people live in what is called an inten- tional community, where participants choose to “cohouse” together under common purposes: a certain lifestyle, as well as a commitment to each other and their shared space. Dubbed Greenwave by one of the property’s three owners, this East Palo Alto intentional com- munity has many functions. It is one part cohous- ing community, one part green living, one part social contract, one part support system. Diana Bloch, one of the founders of Greenwave, says the main appeal of cohousing is not only sharing resources, but also having a built-in social group. “One of the attractions is the college-dorm at- mosphere, where people sit around and casually discuss whatever comes up,” she said. “It’s also a simpler life. Part of the discussion involved is simplifying and using less space.” Cohousing’s Northern American roots can be A group of 15 people in East Palo Alto commit to shared living, values and community traced back to two California architects, Kath- ryn McCamant and Charles Durrett, discovering “bofællesskaber” in Denmark in the 1980s. “Bofællesskaber,” translated as living commu- nities, became cohousing — groups of people deciding to live together in an intentional com- munity where activities such as cooking, clean- ing, maintaining a garden and purchasing food are shared. Bloch happened to attend the first seminar that McCamant and Durrett gave on cohousing in the United States, in the mid-1980s at the Friends SPRING FLING ... Filoli’s Spring Fling fundraiser is set for 10 a.m. to 3:30 p.m. on Saturday, April 6, at 86 Cañada Road, Woodside. The annual event is very family- focused, with docent-led nature walks, the Bubblesmith (who creates giant bubbles), dogs in training, a clown, Easter bunny and lady bug. Children can even pot a spring plant and decorate the pot to take home. Tickets are $25 for adult nonmembers, $20 for members, $5 for children ages 5 to 17 and free for children 4 and younger. Pre-ordered boxed lunches are $18 for adults and $10 for children. Information: 650-364- 8300 or www.filoli.org THE DIRT ON DIRT ...U.C. Master gardeners will offer a free work- shop on “Building Healthy Soil” from 10 to 11 a.m. on Saturday, April 6, at the Palo Alto Demon- stration Garden, 851 Center Drive. Focus is on prepping beds for bountiful crops, how to dig and amend clay soil, when and how to prepare cover crops and using compost and fertilizer. Informa- tion: Master Gardeners at 408- 282-3105, between 9:30 a.m. and 12:30 p.m., Monday through Friday or http://mastergardeners.org GROWING ORCHIDS ... Longtime orchid grower and award-winning exhibitor Weegie Caughlan will teach a class on “Growing and Dividing Cymbidiums” from 9:30 to 11:30 a.m. on Saturday, April 6 or April 13, at Gamble Garden, 1431 Waverley St., Palo Alto. Caughlan will talk about temperature, sun- light, growing medium, watering, nutrition and pest control. Cost is $35 for nonmembers, $25 for members. Information: 650-329- 1356 or www.gamblegarden.org THE BEES’ KNEES ... Longtime beekeeper Jeffrey Warnock will teach a class on “Keeping Hon- eybees” from 10:30 a.m. to 12:30 p.m. on Saturday, April 6, at Com- mon Ground, 559 College Ave., Palo Alto. Topics range from the fundamental of beekeeping and the basic parts of a hive to how to wear a beekeeping suit and honey extraction. Cost is $31. Bees and equipment can be ordered from www.koehnen.com/packages.html or www.beekind.com/orderbees. html. MANAGE A REMODEL ... Mol- lyanne Sherman, who is certified in Kitchen, Bath & Interior Design and Green Building, will teach “How to Manage Your Kitchen or Bath Remodel!” from 6:30 to 9 p.m. on Tuesdays, April 9 to May 7 , in Room 1706, Palo Alto High School, 50 Embarcadero Road, Palo Alto. Designed for people who want to be very involved in their projects, the class includes constructing a project budget and (continued on page 47) (continued on page 47) Top: Members of the Greenwave intentional community, as well as three visiting guests, sit down to eat in the community’s kitchen, where they share a meal once a week. Above: Greenwave founder Diana Bloch, left, and resident Barbara Wallis look out at their communal garden. Veronica Weber Veronica Weber Page 45
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OPEN HOME GUIDE 70Also online at PaloAltoOnline.com
Home FrontHome & Real Estate
by Elena Kadvany
n a small East Palo Alto street, just blocks from U.S. Highway 101, 15 people share three houses, a trailer, a diverse fruit and
vegetable garden, meals and household tasks.Like a tightly knit family, they shop for groceries
together, make dinner for each other, watch each other’s children and support each other.
These 15 people live in what is called an inten-tional community, where participants choose to “cohouse” together under common purposes: a certain lifestyle, as well as a commitment to each other and their shared space.
Dubbed Greenwave by one of the property’s three owners, this East Palo Alto intentional com-munity has many functions. It is one part cohous-ing community, one part green living, one part social contract, one part support system.
Diana Bloch, one of the founders of Greenwave, says the main appeal of cohousing is not only sharing resources, but also having a built-in social group.
“One of the attractions is the college-dorm at-mosphere, where people sit around and casually discuss whatever comes up,” she said. “It’s also a simpler life. Part of the discussion involved is simplifying and using less space.”
Cohousing’s Northern American roots can be
A group of 15 people in East Palo Alto commit to shared living, values and community
traced back to two California architects, Kath-ryn McCamant and Charles Durrett, discovering “bofællesskaber” in Denmark in the 1980s.
“Bofællesskaber,” translated as living commu-nities, became cohousing — groups of people deciding to live together in an intentional com-munity where activities such as cooking, clean-
ing, maintaining a garden and purchasing food are shared.
Bloch happened to attend the first seminar that McCamant and Durrett gave on cohousing in the United States, in the mid-1980s at the Friends
SPRING FLING ... Filoli’s Spring
Fling fundraiser is set for 10 a.m.
to 3:30 p.m. on Saturday, April 6,
at 86 Cañada Road, Woodside.
The annual event is very family-
focused, with docent-led nature
walks, the Bubblesmith (who
creates giant bubbles), dogs in
training, a clown, Easter bunny
and lady bug. Children can even
pot a spring plant and decorate
the pot to take home. Tickets are
$25 for adult nonmembers, $20
for members, $5 for children ages
5 to 17 and free for children 4
and younger. Pre-ordered boxed
lunches are $18 for adults and $10
for children. Information: 650-364-
8300 or www.filoli.org
THE DIRT ON DIRT ...U.C. Master
gardeners will offer a free work-
shop on “Building Healthy Soil”
from 10 to 11 a.m. on Saturday, April 6, at the Palo Alto Demon-
stration Garden, 851 Center Drive.
Focus is on prepping beds for
bountiful crops, how to dig and
amend clay soil, when and how
to prepare cover crops and using
compost and fertilizer. Informa-
tion: Master Gardeners at 408-
282-3105, between 9:30 a.m. and
12:30 p.m., Monday through Friday
or http://mastergardeners.org
GROWING ORCHIDS ... Longtime
orchid grower and award-winning
exhibitor Weegie Caughlan will
teach a class on “Growing and
Dividing Cymbidiums” from 9:30 to
11:30 a.m. on Saturday, April 6 or April 13, at Gamble Garden, 1431
Waverley St., Palo Alto. Caughlan
will talk about temperature, sun-
light, growing medium, watering,
nutrition and pest control. Cost
is $35 for nonmembers, $25 for
members. Information: 650-329-
1356 or www.gamblegarden.org
THE BEES’ KNEES ... Longtime
beekeeper Jeffrey Warnock will
teach a class on “Keeping Hon-
eybees” from 10:30 a.m. to 12:30
p.m. on Saturday, April 6, at Com-
mon Ground, 559 College Ave.,
Palo Alto. Topics range from the
fundamental of beekeeping and
the basic parts of a hive to how to
wear a beekeeping suit and honey
extraction. Cost is $31. Bees and
equipment can be ordered from
www.koehnen.com/packages.html
or www.beekind.com/orderbees.
html.
MANAGE A REMODEL ... Mol-
lyanne Sherman, who is certified
in Kitchen, Bath & Interior Design
and Green Building, will teach
“How to Manage Your Kitchen or
Bath Remodel!” from 6:30 to 9
p.m. on Tuesdays, April 9 to May 7, in Room 1706, Palo Alto High
School, 50 Embarcadero Road,
Palo Alto. Designed for people
who want to be very involved in
their projects, the class includes
constructing a project budget and
(continued on page 47)(continued on page 47)
Top: Members of the Greenwave intentional community, as well as three visiting guests, sit down to eat in the community’s kitchen, where they share a meal once a week. Above: Greenwave founder Diana Bloch, left, and resident Barbara Wallis look out at their communal garden.
Veronica Weber
Veronica Weber
Page 45
Page 46
Home & Real Estate
This updated 4 bedroom, 2 bath Brown and Kaufman home
plan with high ceilings and abundant natural light.
Meeting House in Palo Alto. “We then formed a group from the
people who went to (the seminar) and various other interested folks around town and tried to figure out how to build a cohousing commu-nity, but it’s very difficult to find property in this area,” Bloch said.
After sharing a rented mansion on Waverley Street for several years with seven people, Bloch and two other residents, George Hunt and Joe Bamberg, found the East Palo Alto property.
“One of the attractions of East Palo Alto was multiculturalism and the lack of pretension,” Bloch said.
Bloch, Hunt and Bamberg pur-chased the 1-acre property, which was previously a family farm with one house, in the early 1990s. They renovated what had become a di-lapidated drug den into what Bloch says they call the “farm house.”
A few years later, the three own-ers decided to expand, and they purchased a recycled house from Mountain View.
“They were going to tear it down and throw it in the dump, but they said we could have it for a dollar if we moved it,” Bloch said. “But it turned out moving it involved cut-ting it in half, getting it over here in two pieces and then putting them back together on a new foundation.
So that was a lot of work.”The work didn’t stop there. In
2000, Greenwave received approval from the city Planning Department to build two more houses — the main common area, a two-story house, and a third house in the back. The current occupants of the back house do not participate in the co-housing community.
For the new houses, they used manufactured housing to cut costs and stick to cohousing’s founda-tional values.
“The combination of sweat equity, trying to keep the costs down and trying not to spend money hope-fully would make the community more affordable to good people who wanted to spend their time relating rather than earning money,” Bloch said.
They also acquired a trailer along the way, which is parked on a lot to-ward the front of the property that was originally designated for a fifth house.
Bloch transformed the space between the original house in the front, the trailer and the main house into an edible garden, with fava beans, citrus trees, oranges, plums, cherries, persimmons, mulberries and more.
“Around here it seems like if you really want a nice house, both peo-ple have to be working all the time and you don’t have time to enjoy it,” Bloch added. “So that was the goal: to keep it affordable enough that
people didn’t have to be working all the time to live here.”
The current residents hold a wide range of jobs, from suicide hotline operator to teacher. Melissa Laugh-ery, who lives in the original front house with her 4-year-old daughter, Bloch and a second family with a 6-month-old baby boy, works two jobs and odd hours to support her-self and her daughter.
But she says that without Green-wave, she would not be able to live in the area.
“I’m a single mom. There’s no way I could afford to live in an apartment in Palo Alto,” she said. “Yet to me, being a parent is such an important thing to be doing with my life, so it’s essential that I have this option for living.”
All Greenwave residents are ex-pected to pay rent — $500 to $700 per room — to the three owners and commit to three agreements.
The first agreement is to doing a weekly chore. In the kitchen of the main house (which Bloch designed herself so that two or three people could cook in it simultaneously), you can find resident’s names on a large Dry Erase board written next to assigned household tasks such as cooking, garbage, shop, garden and laundry.
The second agreement? Attend a weekly house meeting.
“Hopefully people will communi-cate during that time; anything ev-eryone needs to know,” Bloch said.
“The third (agreement) is to bring up any issues that are causing ten-sion, for yourself or others, and be willing to help out in getting them resolved.”
It doesn’t sound too unlike any other family’s home. And for re-tirees such as Bloch, whose son is grown and granddaughter lives in San Francisco, or single parents such as Laughery whose daughters’ grandparents are far flung, Green-wave does function as a second fam-ily of sorts.
“As people are, more and more, like seeds scattering to the wind, you realize how important those support systems are and finding ways to cul-tivate that,” Laughery said.
That support system ebbs and wanes every year as people move in and out of Greenwave. They get married, change jobs or life other-wise leads them in a different direc-tion. But the original “bofællessk-aber” principles remain, Laughery said.
“The importance of (Greenwave) is the importance of community and connection,” she said.
Editorial assistant Elena Kad-vany can be emailed at [email protected].
schedule. Cost is $88, plus $30 ma-
terials fee payable to the instructor.
Information: 650-329-3752 or www.
paadultschool.org
CITRUS TREE CARE ...U.C. Master
gardeners will offer a free workshop
on “Citrus Tree Care” from 1 to 2
p.m. on Friday, April 12, at Aveni-
das, 450 Bryant St., Palo Alto. The
class will deal with caring for citrus,
including managing diseases and
pests. Information: Register in ad-
vance by calling 650-289-5400 or
stop by Avenidas front desk.
GELATO ITALIANO! ... Stefania Fil-
igheddu will offer an Italian cooking
class in Italian and English focusing
on “Gelato Italiano!” from 6:30 to 9
p.m. on Monday, April 8, in Room
103, Palo Alto High School, 50 Em-
barcadero Road, Palo Alto. The class
includes demonstration, participa-
tion, sampling and how to use an
Italian gelato machine. Cost is $50.
Information: 650-329-3752 or www.
paadultschool.org
Send notices of news and events related to real estate, interior design, home improvement and gardening to Home Front, Palo Alto Weekly, P.O. Box 1610, Palo Alto, CA 94302, or email [email protected]. Deadline is one week before publication.
Greenwave(continued from page 45)
Home Front(continued from page 45)
For more Home and Real Estate news, visit www.paloaltoonline.com/real_es-tate.
Beautifully remodeled 4/3 + Office home in lovely neighborhood. 2 Master Suites one on each level to accommodate guest & grandparents. Lush landscaping. Green through every window. Large garage with abundant built-ins. Las Lomitas Schl District. Minutes to Stanford, Hway 280, Sharon Hts shopping Center, other local shops, & lively downtown areas of Menlo Park and Palo Alto. Offered at: $2,095,000
“U .S. companies are showering investors with a record windfall in dividends and share buy backs are helping to propel the stock market rally,” the Wall Street Jour-
nal reported on Friday, March 8. What this means is that it is time to get back into the garden.
Now that all of you are getting back into prosperity, the garden work you have been avoiding while worrying about the economy has been neglected. Grab a trowel and a cultivator, this month’s tips will be about the chores to do when you are flush.
1. Get the weeds under control now, before they go to flower and then seed. It will save a lot of work later in the spring.
2. If you don’t like the sound of blowers, get your rake out and start raking. The fewer leaves gardeners have to blow the less noise they make. Do a neighbor’s yard as well as yours. Novel idea isn’t it?
3. Prune for shape, flowers and fruit. While thinning out the dead, dying and diseased, look for ways to improve the show and production of your garden.
4. Fertilize; I don’t care if you use organic or synthetic, read the instructions and get on with it. Your plants will be so much happier.
5. Check watering systems. It is getting warmer and you don’t want to waste water or money.
6. Do not sit around thinking about how much money you have or how to save every penny. If you don’t spend it, you can bet somebody else will when you are gone. Go buy some seeds and plant them. It is healthier to watch them grow.
7. Give your gardener a bonus. They really don’t charge that much and they will really appreciate it. Who knows, maybe they will use their blower less?
8. Visit several public gardens this spring. Do an Internet search; they are all listed.9. Put a new flower arrangement on your table every week. Women love flowers, and
everybody knows that if women are happy then everybody is happy.10. Rake up old mulch and put it on the compost pile or in your green waste container.
Replace it with fresh mulch and the spring and summer will be off to a good start.Good gardening. Garden coach Jack McKinnon can be reached at 650-455-0687 (cell), by email at
HOME SALESHome sales are provided by California REsource, a real estate information company that obtains the information from the County Recorder’s Office. Information is recorded from deeds after the close of escrow and published within four to eight weeks.
East Palo Alto152 Daphne Way G. Whatley to J. Grey for $290,000 on 2/28/13148 Gardenia Way Cannon Trust to O. & M. Cerda for $380,000 on 3/1/13243 Gardenia Way Citimortgage to Sonecha Trust for $400,000 on 3/1/13; previous sale 4/89, $110,000
Los Altos1011 Alegre Ave. B. & C. Call to J. Geist for $2,300,000 on 3/7/13; previous sale 7/03, $925,000
1325 Arbor Ave. Arbor Ave Limited to N. & A. Persily for $3,175,000 on 3/13/13; previous sale 4/11, $1,580,0001521 Fallen Leaf Lane Bitondo Trust to A. & K. Katz for $1,926,000 on 3/5/13; previous sale 10/88, $436,0001255 Montclaire Way Cui-Wang Trust to G. Ma for $3,500,000 on 3/8/13; previous sale 10/05, $2,265,0001720 Parkhills Ave. A. & J. Gam-bera to C. & J. Bell for $1,450,000 on 3/8/13
Los Altos Hills12695 La Cresta Drive S. Wilkin-son to W. Tcheng for $2,260,000 on 3/11/13; previous sale 2/06, $1,720,000
Menlo Park405 9th Ave. C. Hanson to B. Hart for $700,000 on 2/27/13; previous
sale 9/02, $510,0001441 Franks Lane S. & W. Coker to D. Bariteau for $1,451,000 on 3/1/13; previous sale 10/03, $711,0001664 Oak Ave. Ben-Efraim Trust to I. Choi for $2,395,000 on 2/28/13; previous sale 6/01, $1,425,000845 Paulson Circle J. Bidzos to M. & K. Johnson for $1,870,000 on 2/28/13; previous sale 12/09, $1,582,000529 Pope St. A. Hilbert to T. Han-sen for $1,625,000 on 2/28/13; previous sale 4/06, $926,000522 Sand Hill Circle Gemelina Inc. to O. Theil for $1,000,000 on 2/27/13; previous sale 6/05, $998,000
Mountain View1031 Crestview Drive #203 T. Hickman to J. Loh for $560,000 on 3/8/13; previous sale 7/05, $458,000
• Superb West Menlo location at Alameda de las Pulgas and Manzanita Avenue in University Heights
• Three Bedrooms, Two Baths, Family Room
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• Huge Two Car Garage on Manzanita• Wonderful wood deck for
entertaining• Mature low maintenance landscaping• Clean and Ready for immediate
occupancy
Great Starter Home in the award winning Las Lomitas
School District
ROBINSON & COMPANY REALTORS
3603 ALAMEDA DE LAS PULGAS, MENLO PARK
Offered at $ 1,100,000
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1031 Crestview Drive #209 S. Bae to N. Singhal for $557,000 on 3/6/13; previous sale 9/10, $355,000851 Donovan Way G. & L. Gilligan to C. Chu for $740,000 on 3/6/13; previous sale 9/08, $628,5002713 Eden Lane Summerhill Grand Road to C. Mok for $2,202,500 on 3/12/13; previous sale 9/11, $17,000,0002726 Eden Lane Summerhill Grand Road to Vc Altos Trust for $2,174,500 on 3/8/13; previous sale 9/11, $17,000,000109 Evandale Ave. Wealthmax Capital to S. Chen for $810,000 on 3/13/13463 Kasra Drive #6 Chu Trust to K. Sobolev for $775,000 on 3/7/133363 Lubich Drive B. Parks to L. Paulson for $1,200,000 on 3/8/13; previous sale 12/76, $89,9001537 Melba Court Mishra Trust to J. Wieland for $1,400,000 on 3/6/13; previous sale 11/02, $795,0001861 Montecito Ave. E. & V. Glaenzer to J. & S. McPhie for $1,110,000 on 3/13/131939 Rock St. #17 C. Le to A. Yeh for $373,000 on 3/13/13; previous
sale 12/07, $400,000203 Sherland Ave. E. Rottscheidt to D. Karpf for $790,000 on 3/5/13; previous sale 5/06, $701,000645 Sylvan Ave. Jacobus Trust to M. Tanuwidjaja for $1,270,000 on 3/11/13; previous sale 7/01, $642,000
Palo Alto867 Altaire Walk D. Stellenberg to A. & J. Hsu for $905,000 on 3/7/13; previous sale 12/09, $771,0001251 Bryant St. Brown Trust to Levett Trust for $1,565,000 on 3/7/13420 Cambridge Ave. #3 Lowe Trust to L. Ely for $1,600,000 on 3/11/13; previous sale 2/12, $1,450,0003851 Corina Way J. & C. Hiraoka to G. & Y. Wu for $1,720,000 on 3/5/13666 Hawthorne Ave. A. Cohen to Fang Trust for $1,300,000 on 3/5/13; previous sale 5/97, $455,0002550 Louis Road Leitner Trust to K. & M. Murphy for $1,650,000 on 3/13/13411 Pepper Ave. Jost Trust to H. Wu for $1,107,000 on 3/6/13
Redwood City724 2nd Ave. Shoreline Assets Group to M. Farias for $580,000 on 2/27/13; previous sale 9/12, $370,500271 Alameda De Las Pulgas HSBC Bank to F. Taylor for $700,000 on 2/27/13; previous sale 12/07, $715,0002311 Brewster Ave. Y. & M. Shilman to M. Dalpoggetto for $1,200,000 on 3/1/13; previous sale 7/05, $1,200,0001601 Chelsea Way Zahnd Trust to Winton Trust for $750,000 on 2/27/13; previous sale 1/97, $257,000429 Cork Harbour Circle #H Working Dirt to K. Tao for $625,000 on 3/1/13; previous sale 4/06, $639,000143 Danbury Lane S. Patel to E. Dorf for $900,000 on 2/27/13; pre-vious sale 3/02, $762,0002831 Hastings Ave. J. & V. Balsa-ma to B. Posokhow for $1,125,000 on 2/28/13; previous sale 8/01, $559,000179 Inner Circle Cavallero Trust to A. & S. Ismail for $1,085,000 on 2/28/131389 Kentfield Ave. S. & L. Heat-
ley to F. & S. Doyle for $600,000 on 2/27/13; previous sale 3/06, $745,000429 Lanyard Drive T. & J. Helland to I. & B. Helland for $900,000 on 3/1/13930 Nob Hill Road J. & A. Siegler to D. Landwirth for $1,385,000 on 2/28/13632 True Wind Way #602 One Marina Homes to H. Xu for $580,000 on 2/28/13632 True Wind Way #605 One Marina Homes to S. & M. Nash for $599,500 on 2/28/13632 True Wind Way #616 One Marina Homes to M. Drewniany for $746,000 on 2/28/131221 Westwood St. M. Giudicelli to Z. Dahl for $961,000 on 2/28/13; previous sale 4/08, $910,000
BUILDING PERMITSPalo Alto
950 Page Mill Road Leland Stan-ford, interior demolition of non-bearing walls, $25,000140 University Ave. remodel res-taurant, $80,000666 Hawthorne St. A. Cohen, in-
stall tankless water heater, $3,5002100 Geng Ave. Equity Office Management LLC, demolish one wall and combine two offices, $5,6002373 Santa Ana St. V. Rainey, covered patio and laundry room, $15,000764 Channing Ave. P. & I. Sprach, remodel bathroom, install dual-flush toilet, new light fixtures, $5,000456 University Ave. J. Yamagicwa, add new entry to back of building with ramp and stair, $90,0001701 Page Mill Road Stanford University, relocate gas ser-vice, add fire and water service, $200,0001856 Channing Ave. C. Adwere-Doamah, new heating system in at-tic, new duct system, gas line, $n/a666 Kellogg Ave. S. Moore, repair and replace foundation, $24,500523 Jefferson Ave. M. Kapoor, convert family room to bedroom, add half bath, relocate utility room for breakfast nook, add skylight, $64,500184 Heather Lane C. Patwardhan, replace windows in two bedrooms and living room, $20,000
1095 Channing Ave. Roman Catholic Bishop of San Jose, replace kindergarten classroom, $1,600,0001615 Matadero Ave. B. & C. Buss, remodel bathroom, $15,000440 Cesano Court L. Tawate & N. Deshpande, remodel kitchen, re-place floor, countertop, $7,0001804,1820, 1830,1840 & 1850 Embarcadero Road, 2445, 2465 Faber Place EOSII Palo Alto Tech-nology, demolish non-structural walls, lights and millwork, $n/a237 High St. J. Verbaken, remodel hall and master bath, $1,1214131 El Camino Real Think Tank Learning, renovate 920-sq.-ft. inte-rior space, $20,000989 Embarcadero Road D. Hu, ex-tend existing garage, $10,0003257 Greer St. E. Peri, replace 40-gal. HWH in hall closet, electrical upgrade, $n/a209 University Ave. H. Sumei, remodel storefront, wall, outdoor seating, relocate two heaters, $15,000419 Wilton Drive M. Morguelo, new shower door, bathroom tile and exhaust fan, $n/a
As a company that is at the forefront of marketing to the Mandarin-speaking
community, we love the high lev-el of emphasis that many sellers and their real-estate agents place on “cash offers.” Because many foreign investors and recent im-migrants lack the requisite credit and income history in the United States to qualify for many banks’ mortgage programs, they often pay in cash. Virtually all sellers see this as an advantage — and it is — but query, what is the ap-propriate premium to place on a cash offer?
In practice, many real-estate agents and their clients try to utilize rigid rules to analyze the relative value of a cash offer over an offer that needs financing. For example, one agent confidently explained that “offers that require financing should be discounted by 1 percent when they are com-pared to cash offers.”
It is not this simple. Sell-ers should analyze the two key ad-vantages to cash offers, certainty and timing, in light of their personal cir-
cumstances and the particular facts surrounding the transaction and the buyer.
Certainty: One of the biggest advantages to a cash offer is that it is more secure than a transaction that needs financing. There is no risk that the bank will deny the buyer’s loan. There are no restric-tions imposed by a lending insti-tution or government guarantor/agency. No need for an appraisal or concern that a low appraisal will derail the transaction.
While some offers that require financing should be discarded
or highly discounted due to risk, other financed offers may include very little risk at all. In fact, in today’s historically low-rate envi-ronment, many buyers that could pay cash would prefer to finance a portion of the purchase to secure the low-cost funds or because they want to deduct the interest on their personal taxes.
Thus, the real question is: How much risk does the financed of-fer entail? The most telling an-swer to this question is provided by the buyers themselves. If they feel very secure about their abil-ity to procure the requisite fi-nancing they will have, or should have, written the offer without a financing contingency. On the other hand, if they think there is material risk that they will have trouble with the financing, they will have, or should have, written the offer with a contingency that gives them the right to get their deposit back if they can’t get the financing.
Beyond the inclusion of a fi-nancing contingency, sellers should consider the amount of the down payment, the size of the loan and the quality of the pre-approval letter included with the offer. Also, sellers should consid-
er any transaction-specific factors that commonly raise problems with banks, such as long seller rent backs, pending litigation or buyers with short U.S. credit his-tories.
Timing: Cash buyers can close as fast as two days and they rou-tinely close in seven to 10 days, which is often seen as a benefit to the sellers. Buyers that require fi-nancing, on the other hand, gener-ally need between 21 and 30 days to close. While this may make a difference to some sellers, many others would be willing to wait the extra two to three weeks if the non-cash offer were preferable for other reasons. Generally, the ad-ditional carrying costs involved with the added three weeks are fairly de minimis given the scope of the deal, and many buyers are willing to cover these additional costs when asked.
When a home is currently oc-cupied by the seller, there may be little if any advantage to a seven-day close in light of the seller’s need to pack and move. While this is often handled by giving the seller a period of time after clos-ing as a free rent-back, the trans-action could be structured with a more traditional escrow period.
Tax consideration: In an effort to make their offer more appeal-ing, some buyers purchase a home
with cash and then borrow against the property to obtain funds at a low rate and with the hopes of de-ducting the interest on their per-sonal residence. It is important to note that the IRS only permits homeowners to deduct interest on the first $1.1 million (assuming no home-equity debt) of “acquisi-tion indebtedness,” which is de-fined only to include loans put on the property within 90 days of the purchase.
Deal structuring: When buy-ers and their agents are faced with the unenviable challenge of com-peting against an all-cash offer, they should look for ways to as-suage the sellers’ concerns about security and timing. There are many deal-structuring approaches that can render a financed offer as strong as or stronger than a cash-offer. However, these techniques require the buyer to assume added risk. But then again, the buyer is in the best position to determine just how much risk their offer truly entails.
Michael Repka, managing broker and general counsel for DeLeon Realty, Palo Alto, for-merly practiced real estate and tax law in Palo Alto. He serves on the Board of Directors of the California Association of Real-tors. He can be reached at [email protected].
Real Estate MattersThe over emphasis
of cash offersby Michael Repka
Page 50
Bedrooms: 3 Bathrooms: 2–1/2 Living: +/-1,859 sq ft Lot: +/- 9,756sq ft www. 47ECreek.com$ ,998,000
A rare opportunity, ideally located in Community Center. This charming 3 bedroom, 2 bath Mediterranean style home offers custom upgrades throughout with attention
ceilings and windows, bathing you in sunlight the minute you open the front door. Attached one-car garage with community lane access.
Just moments to Lucie Stern Community Center, Rinconada Park, excellent Palo Alto schools and downtown Palo Alto,
In a wonderful neighborhood near town, this 3BD/2.5BA residence is a must see for anyone seeking a home with fantastic proximity to the Village, library, shopping, Shoup Park and Los Altos Schools. Fresh and bright, the interior was designed in harmony with the outdoors, fea-turing soaring ceilings, dual pane windows, skylights and French doors that draw in an abundance of light and provide access for indoor/
outdoor California living. A courtyard entry, lined in colorful flowers, tucks the front door further into the expansive front yard, accented by daisies, roses, and mature trees. Enjoy recreation in the park-like backyard with deck, lawn, and an amazing Australian bottle brush tree. Approximately 1,576 sf home and 9,536 sf lot.**
Offered at $1,495,000For a Virtual Tour, Please visit www.201Vallley.com
260 ARDEN ROAD MENLO PARK 12797 NORMANDY LANE LOS ALTOS HILLS
IN THE HEART OF LINDENWOOD ATHERTON
ATHERTON www.192FairOaks.com
OPEN SUNDAY 1:30- 4:30OPEN SUNDAY 1:30-4:30
ATHERTON ESTATE
157 GOLDEN HILLS PORTOLA VALLEY
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Watch the Eichler documentary
on my website
www.modernhomesrealty.com
Mid century modern enthusiasts
will delight in this original Eichler
located in Willow Glen. This 4 bedroom
2 bath beauty captures the essence of
indoor/outdoor living with it’s beautiful
light-fi lled atrium and spacious fl oor
plan. The backyard is perfect for
entertaining and visitors will love the
very unique features of this one-of-a-
kind Eichler.
Price upon request
1712hudson.com
Monique Lombardelli produced the Eichler
documentary fi lm that has swept the Bay
Area. Through her love of Eichlers and her talent for
marketing and social media, she creates stunning
videos of each home and has dedicated her business
to specifi c clientele who also share in her aesthetic.
Her company, Modern Homes Realty, also offers
clients access to off market properties known only
to those in the mid-century modern community.
Monique speaks to enthusiasts all over California
about preserving this beautiful architecture and the
spirit of modernism.
Monique Lombardelli Owner DRE# 01879145 724 Oak Grove Ave Suite 10 Menlo Park, CA 94025P:650-380-5512 F:650-644-0100 [email protected] www.modernhomesrealty.com
1712 HUDSONSAN JOSE
JUST SOLD! 1572 TARRYTOWN STREET, SAN MATEO
EICHLER SPECIALIST
Page 62
MARY & BRENTGULLIXSON
gullixson.com
Page 63
TERRI COUTURETop 1% Coldwell Banker
650-917-5811 Direct
DRE#01090940
2510 Waverley Street Palo Alto
With its sheltered rear garden terrace and great North Los Altos locations, this home offers a true relaxed California lifestyle.
Rebuilt in 1992 by the current owners. The graceful design is anchored by a spacious living room with subtle gallery - style lighting
and fireplace, where guests can mingle and socialize then move into the elegant formal dining venue. Create a gourmet feast in
the fully equipped chef ’s kitchen, retire to the family room for a movie, then wrap up the night with refreshments on the rear
terrace. Privately located at the end of the main - level hallway are two comfortable family bedrooms, while three additional
bedrooms, including the master suite with updated spa bathroom, round out the accommodation upstairs. Outside, the lush
gardens and lawns are surrounded by tall trees and palms. Access to shopping and dining, major commute routes, and excellent
Los Altos schools.
fruit trees
and Los Altos High (buyer to confirm)
Offered at 2,699,000
Los Altos
Center
Summary of the home
to the central courtyard
dining space
with fireplace, solarium, spacious bath, and adjacent laundry room
each with a fireplace
be used as a library or exercise room
a workshop and artist’s studio
parking
per county records
Inventory, Category 2
Offered at $3,000,000residence built in Palo Alto.
culde-sac. This home offers the ultimate in privacy, yet its close-in location is just
room to room and includes formal living areas expansive gourment kitchen and
offer an ideal setting for outdoor entertaining. Top-rated Los Altos schools.
Offered at $4,695,000 Tours.beyondvt.com/public/vtour/display/101754
OUTSTANDING VALUE AND EXCELLENT FLOOR PLAN IN THIS LOVELY AND SPACIOUS 17 YEAR NEW 2-STORY HOME!
International President’s Premier Top 1% Coldwell Banker - Worldwide
(650) 752-0826
JUST LISTEDOpen Saturday and Sunday
1:00 – 4:00 PM
Square footage of the home/room dimensions have been obtained from sources deemed reliable, but which have not been verified
FEATURES
Offered at $1,175,000
April is Fair Housing Month Each year REALTORS® observe Fair Housing Month in April. REALTORS® play a vital role in ensuring fair housing for all and strive to make home owner-ship accessible to everyone. “REALTORS® want all buyers and sell-ers to enjoy the benefits of a housing market free from discrimination,” says Carolyn Miller, president of the Silicon Valley Association of REALTORS® (SIL-VAR). REALTORS® abide by a Code of Ethics that states REALTORS® shall not deny professional services or be a party to any plan or agreement to discriminate against any person for rea-sons of race, color, religion, sex, handicap, familial status, national origin, or sexual orientation. The 1968 landmark Fair Housing Act prohibits discrimination based on race, color, national origin, religion, sex, familial status or handicap. Under the law, a home seller or landlord can-not discriminate in the sale, rental and financing of property on the basis of race, color, national origin, religion, sex, familial status or handicap. They cannot instruct their real estate agent to convey any limitations in a sale or rental. Buyers or renters have the right to expect housing will be available to them without discrimination, includ-ing housing in their price range made
available without discrimination; equal professional service; the opportunity to consider a broad range of housing choices; no discriminatory limitations on communities or locations of hous-ing; no discrimination in the financing, appraising, or insuring of housing; rea-sonable accommodations in rules, prac-tices and procedures for persons with disabilities; non-discriminatory terms
and conditions for the sale, rental, financing, or insuring of a dwelling; and freedom from harassment or intimi-dation for exercising their fair housing rights. Buyers or renters who be-lieve they have experienced discrimination may file a
complaint with the California Depart-ment of Fair Employment and Housing. Complaints must be filed within one year of the alleged discrimination. On April 26, SILVAR is offering At Home With Diversity®, a course that teaches REALTORS® and other business professionals how to work effectively within a multicultural market. The full-day course addresses topics like diver-sity, fair housing and business planning development. If you would like to learn more about At Home With Diversity®, call SILVAR at (408) 200-0100.INFORMATION PROVIDED IN THIS COLUMN IS PRESENTED BY THE SILICON VALLEY ASSOCIATION OF REALTORS®. SEND QUESTIONS TO ROSE MEILY AT [email protected].
We will work to help your business grow! For Advertising information, please call Tom Zahiralis, Vice President Sales & Marketing at (650) 223-6570.
1ST PLACEGENERAL
EXCELLENCECalifornia Newspaper Publishers Association
Stunning 6BD/5.5BA home presents a graceful balance of east coast architecture w/west coast liv-ability. Sun-swept pool/spa, sport ct, & putting green.
Exceptional charm in quiet neighborhood in Willow Glen. Excellent fl oor plan with luxury master suite! 5BR/4BA 2,616 approx sf & 6,880 approx sf lot.
WILLOW GLEN | OPEN SUNDAY 1-4
DREW DORAN650.766.2080
www.DrewDoran.comDRE #01887354
1132 HENDERSON AV $499,000
Stunning remodel with designer fi nishes! Expansive 2BR, 1BA with bonus room, many updates, large lot, and covered patio area perfect for entertaining!