Lauded as one of the nation’s most exclusive neighborhoods, West Atherton has maintained its share of impressive luxury and posh amenities. Moneyed Massachusetts businessman, Faxon Dean Atherton, once owned a 600-acre private ranch, where his home was once situated. That land is now the Menlo Circus Club, a private country club for wealthy horse aficionados and socialites.
The streets of West Atherton are wide and spacious, lined with heritage oaks, cedars, and pines. The absence of sidewalks in this neighborhood suggests idyllic country lanes, which creates a peaceful atmosphere. The rows of privacy hedges and fancy gates offer mere glimpses of the magnificent manors to the passersby, and the more grandiose estates, despite their gates and hedges, still have an imposing street presence.
For many residents, this is the neighborhood of choice. The make-up of the community continues to rapidly change as more of Silicon Valley’s prominent executives and investors move in, as evidenced by the abundance of new construction throughout the neighborhood. The old Ranch-style homes are steadily disappearing as younger homeowners move in and seek a place to call their own.
The demand for homes in West Atherton is so high that even in the recent economic downturn, a teardown property here still sells for around $4 million. But as with any luxury home market, buyers are highly discretionary and consider these homes as less of an investment and more of a showcase. Homes here tend to be unique and have greater value fluctuations, with the homes located on the edges of West Atherton selling for as much as eight percent less than those in the prime central streets. A buyer could purchase a home for $1 million less than its original asking price, but will probably still end up paying close to $7 million.