One of the bummers about being incredibly fair-minded (and movie-star handsome) is that invariably I see the merit in both sides of an argument. Thus I find myself sympathizing, even empathizing, with both sides of the Great Palo Alto School Renaming Debate, and feel impelled to offer my own modest solution.
An enrollment growth forecast done for a local high school district reports that “the Peninsula’s high cost of living is driving low-income families away from elementary school districts” in some of the mid-Peninsula’s most affordable cities or neighborhoods: Redwood City, East Palo Alto and the Belle Haven area of Menlo Park. But what it doesn’t say may be just as significant.
How do you feel about a pool in your back yard, maybe taking up all of your back yard? Still looking for public schools rated A++ or better?
Maybe yes, maybe no. It depends on how old school you are.
Ever wonder who the “typical” Palo Altan is? I grew up in Palo Alto, work in Palo Alto and sell homes in Palo Alto, and sometimes I wonder too.
Awhile back I compared the cost of brand-name versus non-brand name (and near-brand name) schools and attempted to quantify the premium brand-name education commands in the local real estate market. Last week I crunched some numbers for a client that revealed a bit more about that premium.
Are all-cash offers changing the rules of home buying? Are they giving the ultra-wealthy (or investors) an advantage in the real estate marketplace?
By now the news media has noticed that home buyers will pay a premium to get the right school. A big premium.