Silicon Valley $5.6million home snapped up hours after hitting market
A $5.6million Silicon Valley home has made headlines after it was snapped up within hours of hitting the market. The luxurious property is located in Los Gatos, a wealthy suburb located about an hour south of San Francisco.
175 Prospect Avenue sits at the foothills of the Santa Cruz Mountains near trails, wineries, beaches and a bustling town centre filled with parks, boutiques, and upscale restaurants.
The single-level house was attractive for a number of reasons. The open concept floor plan has an expansive chef's kitchen with a large island, bar seating, breakfast nook, and wet bar. The master bedroom has a walk-in closet and changing room with extensive built-in dressers, a large jetted soaking tub and heated flooring.
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The house is in a wealthy suburb not far from San Francisco (Keller Williams Realty)Meanwhile, the large living room has accordion French doors that completely open to the backyard, which features a patio, fireplace, built-in barbecue, heated pool, infinity hot tub and rose garden. There’s even an opportunity to create a private vineyard or orchard at the one acre property.
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Perhaps the most appealing feature was the property’s one-bedroom, one-bathroom guest house that has its own gated entrance and mailing address. The guest house even has its own carport, while the main building has space for three more cars and an electric charging station.
Taylor Silva of Keller Williams Realty said that the owners were empty nesters whose children had left for college. Seeking to downsize, they decided to sell for $5.4million.
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For $5.6m you'd be upset if it didn't come with a pool (Keller Williams Realty)Some agents were given a heads-up before the property was listed, and three different buyers organised viewings within one day of the news being shared.
Silva said: “The main house being single level is an extremely desirable feature, and there is the stunning, almost brand new guest house. There’s also two solar systems: one for the pool and another for the main house, a lovely rose garden and room for a vineyard.”
A nearly $5.6million all-cash offer was made; nearly $200,000 above asking price.
Demand for homes in Silicon Valley remains strong, especially in Los Gatos, because of the area’s amenities and exclusivity. Silva said: “The market in Los Gatos has continued to have strong buyer demand with record low levels of inventory.”
The luxurious interior (Keller Williams Realty)Sunnyvale Real Estate posted statistics for Los Gatos on Monday which showed that of the 29 houses for sale in the area, 13 are sale pending and 16 have closed.
“Silicon Valley is often dubbed the global centre for high technology, innovation, and social media,” according to realtor Jordan Mott.
“Its thriving tech industry continues to attract highly-skilled professionals seeking employment and it's renowned for its quality education, unique blend of urban conveniences, and beautiful landscapes.
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“Silicon Valley boasts one of the highest per-capita incomes in America. It’s a future-proof real estate market.”
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