This year, Los Altos/Los Altos Hills, at an average price of $1,706,688, is the most expensive market in the country when it comes to how much house your dollar will buy, according to Coldwell Banker’s annual Home Listing Report.

And Belmont isnt far behind, ranking 15 on the list with an average listing price for a four-bedroom, two-bath home priced at $1,098,777.

In fact, of the nation’s top five most expensive markets, four are on the lower Peninsula and Santa Clara County, and all are in California. Besides Los Altos, they include Saratoga ($1,582,434), Menlo Park ($1,506,909), and Palo Alto ($1,495,364). Newport Beach, in the No. 2 position ($1,658,000), was the only market outside of the Bay Area in the top five.

Coldwell Banker attributes Los Altos’ ranking to the confluence of tech and desirable locations. Google, Apple, Facebook and Stanford University are all located within 15 minutes of Los Altos, Coldwell Banker observed. And, so are the other top-five cities Saratoga, Menlo Park and Palo Alto.

And Los Altos Hills is the town that brought you the $100 million home, purchased by Russian tech investor Yuri Milner in 2011. 

“The success of many of our native tech companies has shined a spotlight on Silicon Valley and our real estate market in the San Francisco Bay Area,” said Rick Turley, president of Coldwell Banker Residential Brokerage in the San Francisco Bay Area, in a written statement.

In fact, among the top 20 most expensive markets in the country, ten of them are on the Peninsula or in Santa Clara Valley. They include the additional cities (in order of price) of Los Gatos, San Carlos, Cupertino, San Francisco and Redwood City.

High demand, low inventory, desirability and population projections all figure into the prices, Turley said.

Conversely, the most affordable was in Redford, Michigan, where the average a four-bedroom, two bath house cost $60,490—or 28 times less than the same house in Los Altos.

Coldwell Banker lists both the top 20 most affordable and the most expensive in the chart below.

For a state-by-state ranking, see this Coldwell Banker link.

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Article source: http://belmont-ca.patch.com/articles/belmont-one-the-most-expensive-real-estate-markets-in-country

This year, Los Altos/Los Altos Hills, at an average price of $1,706,688, is the most expensive market in the country when it comes to how much house your dollar will buy, according to Coldwell Banker’s annual Home Listing Report.

By contrast, for an average of $60,490 a four-bedroom, two-bathroom home can be found in Redford, Mich., which is just outside of Detroit. It’s a isting price difference of more than $1.6 million.

Cupertino is 9th in California and 12th in the nation with an average price of $1,151,145 for a similar sized home. It sits just above San Francisco with an average of $1,132,086.

In fact, of the nation’s top five most expensive markets, four are on the lower Peninsula and Santa Clara County, and all are in California. Besides Los Altos, they include Saratoga ($1,582,434), Menlo Park ($1,506,909), and Palo Alto ($1,495,364). Newport Beach, in the No. 2 position ($1,658,000), was the only market outside of the Bay Area in the top five.

Coldwell Banker attributes Los Altos’ ranking to the confluence of tech and desirable locations. Google, Apple, Facebook and Stanford University are all located within 15 minutes of Los Altos, Coldwell Banker observed. And, so are the other top-five cities Saratoga, Menlo Park and Palo Alto.

And Los Altos Hills is the town that brought you the $100 million home, purchased by Russian tech investor Yuri Milner in 2011. 

“The success of many of our native tech companies has shined a spotlight on Silicon Valley and our real estate market in the San Francisco Bay Area,” said Rick Turley, president of Coldwell Banker Residential Brokerage in the San Francisco Bay Area, in a written statement.

In fact, among the top 20 most expensive markets in the country, 10 of them are on the Peninsula or in Santa Clara Valley. They include the additional cities (in order of price) of Los Gatos, San Carlos, Cupertino, San Francisco and Redwood City.

High demand, low inventory, desirability and population projections all figure into the prices, Turley said.

Conversely, the most affordable was in Redford, Michigan, where the average a four-bedroom, two bath house cost $60,490—or 28 times less than the same house in Los Altos.

Coldwell Banker lists both the top 20 most affordable and the most expensive in the chart below.

For a state-by-state ranking, see this Coldwell Banker link.

Article source: http://cupertino.patch.com/articles/los-altos-the-most-expensive-market-in-country-a35fc8e0

With an average home listing price of $1.658 million, Newport ranked second among the most expensive real estate markets in the country, according to Coldwell Banker’s annual Home Listing Report released this week.

That’s down a spot from last year, when Newport was at the top of the national list.

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Bay Area suburb Los Altos ranked No. 1.

Of course, that Newport has ranked high in expensive housing is hardly a surprise, said Rick Jenkins, regional vice president of Coldwell for Orange County and desert regions.

“Newport is constantly well up there,” he said. “Certainly close to, if not at the top.”

And that’s a good thing, said Tricia Moore, executive vice president of the Newport Beach Assn. of Realtors.

“Overall I think it’s a positive for the city. It’s the same as a school getting a Blue Ribbon Award,” she said. “We’re a desirable community.”

Costa Mesa, at 19th most expensive in California, was the second highest ranked city in Orange County with an average asking price of $851,799. Irvine, with an average listing of $721,035, ranked 28th most expensive in the state.

Newport held down the sole Southern California spot in the list’s top six most expensive markets nationwide. The other five are Silicon Valley suburbs. The top average asking price? About $1.7 million.

According to the report, there’s about a $1.6-million drop down to the average price in the most affordable market surveyed: Redford, Mich. at $60,490.

Despite the fact that 12 of the list’s most expensive markets are in California, the state overall was less expensive on average than Hawaii and Massachusetts, which were most and second most expensive, respectively.

The report is based on the average listing prices of four-bedroom, two-bathroom homes in 2,500 U.S. markets from January to June.

Jenkins said the report is meant more as a “snapshot” of a particular type of home in certain areas than as a broad portrait of the housing market.

In general, he said, that picture is getting rosier.

“Broadly and generally, our Newport market is extremely good,” he said. Inventory counts have gone down throughout Orange County, which means demand is higher. And the percentage of sales categorized as distressed — as in the case of a foreclosure or short sale — is down from more than 50% in 2010 to about 13% now.

Those indicators, especially in combination, Jenkins said, point to a strong housing market.

“All in all we are just pleased with the real estate market as it’s going and we look forward to it continuing,” he said. “Frankly, it’s a good time to sell.”

Moore said she’s a little less optimistic, as the country hurtles toward that looming “fiscal cliff.”

“[In Newport] we saw the market starting to improve, I would say in July and August of this year.” Whether that continues, she said, “I guess it’ll depend on what transpires in the next 45 or 60 days.”

jill.cowan@latimes.com

Twitter: @jillcowan

Article source: http://www.dailypilot.com/news/tn-dpt-1130-newport-housing-prices-20121129,0,2509969.story

IRVINE, Calif., June 17, 2011 /PRNewswire-USNewswire/ — Over 1000 members of Stanford Professionals in Real Estate (SPIRE) and Stanford Management Company (SMC) will honor the contributions of Stanford alumni William Wilson and Don Koll at the inaugural Stanford Real Estate Hall of Fame Banquet, September 30, 2011 on the Stanford Campus and an October 28, 2011 banquet in Los Angeles.

William “Bill” Wilson III spearheads a legendary path through Bay Area commercial real estate.  Among his most well-known projects are the Oracle Inc. world headquarters in Redwood Shores; Foundry Square, The Gap Inc. headquarters; the Ferry Building renovation in San Francisco; 10 Almaden Blvd. in San Jose; the Pruneyard in Campbell; 48 Stockton Street in San Francisco; and the Franklin/Templeton Group campus in San Mateo.

Donald M. Koll founded The Koll Company in Newport Beach in 1962 as a regional general construction firm.  The company grew into a commercial real estate giant responsible for the development of more than 90 million square feet of office, industrial and retail space throughout the Western United States, Mexico and the Pacific Rim. The Koll Company currently owns and manages over 6 million square feet of multi-tenant, light industrial and suburban/garden office space.

The Hall of Fame Banquet takes place on September 30th at 6:30 pm with a VIP reception and dinner at McCaw Hall located in the Frances C. Arrillaga Alumni Center on the Stanford campus and a Los Angeles banquet will be held on October 28th at a location to be announced.  Persons interested in sponsorships or attending should contact Heidi Nietert, hnietert@spirestanford.org or call SPIRE at (310) 864 2402.

About Stanford Professionals in Real Estate - SPIRE is a 501(c)(3) non-profit organization and officially recognized Stanford Alumni Association club.  SPIRE is focused on creating a forum to support the vast alumni community of Stanford University involved in the many facets of the real estate industry and seeks to provide a platform for continued excellence in real estate.

SOURCE Stanford Professionals in Real Estate (SPIRE)

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Article source: http://www.prnewswire.com/news-releases/stanford-professionals-in-real-estate-and-stanford-management-company-honor-alumni-william-wilson-and-don-koll-124064614.html