2014 Year End Market Data

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2014 Year End Data SM & SC

The 2014 Year End Market Data gives an overview of Atherton, Burlingame, Los Altos, Los Altos Hills, Menlo Park , Palo Alto, Portola Valley, and Woodside.

Q3 Quarterly Market Report 2013 vs. 2014

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Nov 2014 Data

Q2 Quarterly Market Report 2013 vs. 2014

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Q2 Stats

Portola Valley Realtor Ellen Ashley

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Contact Ellen to help you find your next home or represent the sale of your home 650-888-1886

The Cities with the Highest Incomes

Top 10 Countdown

#10 Glenbrook, Nevada

Glenbrook, NVIf you have ever visited Lake Tahoe then you know how incredibly beautiful it is. One area of Lake Tahoe on the east shore is called Glenbrook on the Nevada side. If you enjoy skiing, camping, hiking, boating, a private golf course, or just sitting out on your deck with a glass of wine overlooking the lake, then this is the place to be. Truly one of the best vacation spots in the country. Glenbrook came in #10 with the average household income of just over $620,000 and the average home prices just over $2,000,000

#9 Gladwyne, Pennsylvania

Another rather wealthy neighborhood is Gladwyne located in Montgomery County and has been well known as one of the more prosperous areas for many years. The area has a mixture of farms, housing, and a small town. There are several private country clubs available for golf, Cricket, or a game of tennis. The average household income is just under $630,000 a year with the average price of homes around $720,000.

#8 San Francisco, California

SFSan Francisco, founded in 1776, falls into the #8 spot of cities with the highest incomes. San Francisco is one of the largest cities on the West Coast and offers a plethora of activities and dining experiences. There are several neighborhoods where the higher income resides with the average income is over $630,000 per year and the average home costs are above $880,000.

#7 Century City, California

Century City, with only 176-acre, is on the Westside of Los Angeles. The land was actually used by 20th Century Fox in the making of many films. Fox still has a studio within the city limits. Century City residents consist of mostly older-aged high-income homeowners with the average yearly income of over $650,000 and the average home costs of $800,000.

#6 New York, New York

New York, NYIt is no surprise that New York would fall within the top 10 spots of highest incomes. With Wall Street right around the corner and a resurgence of new residential buildings being built due to the demand by the high paying jobs that New York offers. The average New York Salary per year in select neighborhoods is over $650,000 per year and the average housing cost is over $1,000,000.

#5 Mill Neck, New York

Mill Neck, NY is a tiny village on the North Shore of Long Island and an ideal place to live if you’re looking for an undisturbed woodland or waterfront property. Mill Neck has been home to New York’s wealthiest families such as the Rockefeller and the Vanderbilt families. It has been well known as one of the most expensive neighborhoods in the country. The average yearly income is just over $660,000 and the average home can cost you just under $3,000,000.

#4 Purchase, New York

Just North of New York City is the town of Purchase well known as great place to live. It is also where some of the largest companies in the country do their business, which helps bring wealth to the community. There are many recreational activities perfect for the students who attend the State University. The average income of those who reside in Purchase is over $675,000 per year and you can find a home for around $1,000,000.

#3 New Vernon, New Jersey

The #3 spot goes to New Vernon, New Jersey which has some of the oldest estates around. It has been said that some of the estates are on the nation registry because they are so old. The average income of the residence of New Vernon is just over $670,000 per year with the homes costing on average over 2,500,000.

#2 Atherton, California

AthertonAtherton is one of the wealthiest communities on the west coast. It is a beautiful place to live and it is smack in the middle of Tech country with giant companies like Facebook, Google, and Oracle only minutes away. The folks who live in Atherton average over $1,000,000 yearly incomes and homes on average can sell for well over $3,000,000.

#1 Fisher Island, Florida

Fisher Island, FL copyFinally the #1 highest paid homeowners in the United State live on an exclusive little island called Fisher Island. The only way to get home is by boat where fewer than 200 reside. The average income of those who live on Fisher Island is well over $1,000,000 per year with the homes costing just over a couple of million.


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City Data

Wait! Do Not Cut Down That Tree!

Woodside Trees 02Everyone loves a beautifully manicured landscape. It takes a lot of planning to get your lawns, plants, and flowers designed just perfectly to create your desired results. Even the proper placement of your trees is extremely important. Many property owners bring in new trees to help add foliage to the grounds and sometimes there might even be a need to remove your trees due to a remodel or a landscape design.

This is where you, as the owner of the property, can run into problems. Did you know that many cities in California require a permit before cutting down a tree? Your city can take this extremely seriously. If your city requires a permit and you do not have one you might be ordered to pay costly fines as well as replace any trees that were cut down. The fines can be as much as $5000 for one tree and up to $10,000 for each additional tree.

Being a Responsible Homeowner

It is important to know your local laws and to be careful about taking second hand advice as fact.  Just recently, a property owner was fined over $52,000 for cutting down six trees without a permit. Apparently, a hired tree-trimming contractor told him it was okay to cut down the trees without a permit. The contractor was wrong and the homeowner was responsible for the fine.*

Each city has their own specification of what size and type of tree can be cut down and which type of trees needs to be protected. It would be advisable to contact your local city building department where you live to inquire about the laws and permit requirements before cutting down any trees on your property.Woodside Trees 01 For an example of a tree destruction, permit click here

It is with careful care and reason that California, along with other states, ask to be careful when dealing with trees. It isn’t to be a challenge, even if it can present extra steps, but a way to ensure a balance. The benefits of trees, for bio diversity and your own health, are why there is such an interest in keeping them. And like any good law, it is easy to see the beauty within it.


Q1 Quarterly Market Report 2013 vs. 2014

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Q1 2014 Report

Neighborhood Detail – Atherton, Ca

Counties Currently Participating in Prop 90

Eight California counties currently participate in Prop 90 tax base transfers.   They include Alameda, San Diego, San Mateo, Santa Clara, Los Angeles, Orange, El Dorado and Ventura.    Santa Clara County supervisors recently voted to keep Prop 90 in place while El Dorado County was a new addition in 2010.

Prop 90 allows people aged 55 & over  to transfer a property’s factored base year value from an existing residence to a replacement residence between the participating counties.   Replacement properties must be of equal or lesser value than the original property.

This means you could sell your long time residence in Palo Alto and purchase a replacement property in San Diego that was of equal or lesser value than your Palo Alto home and apply to have your existing tax base transfer to your new property.    It can be a great benefit if you have owned a home for many years.

The participating counties can change at any time and you should always talk to your financial advisor regarding requirments of your specific situation.