Los Altos Family Recalls Life Before Real Estate Price Explosion
LOS ALTOS (KPIX 5) – Claudia Meyer grew up in Los Altos. Her parents bought their home for $18,000, a far cry from how much homes are today.
Meyer said she grew up in the home with fond memories. “My dad was an air traffic controller,” she said. “Next door, the gentleman worked at Moffett, in the post office.”
Fast forward to today.
“Generally in this neighborhood, you’re going to get a lot of Googlers and also a lot of people who have successful startups,” said Ken DeLeon of DeLeon Realty.
Those looking for homes in this neighborhood are buying them with cash, and well above asking price.
“Just in one week we received multiple offers and that huge jump up of half a million dollars,” DeLeon told KPIX 5.
A home across the street from Meyer’s was listed for $1.6 million, and sold for $2 million in two days. Realtor Ken DeLeon said the tech sector and buyers overseas are driving the demand. He said, “Sometimes…we get 10 offers, four or five of them might be from Googlers.”
“Growing up here, the people with the money were my friends’ dads that were airline pilots, and doctors and dentists,” Meyer said.
The tech buyer and international buyer are both drawn to the Internet when it comes to buying a home.
“We have sold a lot of homes in the last year sight unseen, where the decision maker is overseas, they might send someone out, they might not,” De Leon said. “But just from the video alone, they are making these multimillion dollar decisions.”
For Claudia and her 92-year-old father Don, they like the changes but hope some things stay the same.
When asked what his fondest memory of living in the neighborhood, Don said, “The camaraderie of the people that live here.”