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CAMPAIGN FOR EXCELLENCE |
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Published May 26, 2005 Real estate and schools Editor, For the past two months I have been looking at houses in Palo Alto with a relative who is relocating to the area. We have looked in Palo Alto, Atherton, Menlo Park and Los Altos at houses selling from $1.5 million to $10 million. What is shocking, in addition to the housing prices, is the price discrepancy between Palo Alto and the neighboring cities: Palo Alto is at least 15 percent higher -- if not more -- for houses that are smaller in size and on smaller lots. At the upper levels, for example, there are many homes in Atherton on large lots selling for much less than Palo Alto homes, if you compare them on a per-square-foot basis. Prices of condos in Palo Alto are at least 20 percent higher than in Mountain View. Last week, I saw a Palo Alto house that is almost a teardown with an unbelievable asking price of $8.5 million. The question we asked the realtor was: Why these crazy prices? The answer: It's the school district. Everyone wants Palo Alto
Schools. In the upcoming Measure A ballot on June 7, voters need to remember
that their real-estate values are tied to the school district. Failure to pass
Measure A might save tax payers a few hundred dollars per year, but cost them
thousands when it comes to sales prices of their homes if the school district
cannot maintain its excellence. http://www.paloaltoonline.com/weekly/morgue/2005/2005_05_25.letters25.shtml Read other letters in support of Measure
A a the Palo Alto Online Website
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