Newly Renovated Folger Stable in Woodside Opens to the Public September 19th

One of the jewels of the Peninsula’s Great Estate period of a century ago stood dying of benign neglect until a remarkable public/private partnership was formed. Now thanks to the efforts of the Folger Estate Stable Committee the barn built by coffee heir James Folger II has been restored to its glory days.

Read full story on inmenlo.com   

Source: www.inmenlo.com

Photo by Chris Gulker

Menlo Park Named by Two Irishmen in 1854

It was in 1854 that Menlo Park received its official name when two Irishmen, Dennis J. Oliver and D. C. McGlynn, whose wives were sisters, purchased 1,700 acres (some sources say it was 640 acres) bordering County Road, now El Camino Real, and built two houses with a common entrance. Across the drive they erected a huge wooden gate with tall arches on which the name of their estate was printed in foot-high letters: "MENLO PARK", with the date, August 1854, under it.

When the railroad came through in 1863, this station had no name, it was just the end of the line, but it needed a designation. During a discussion about the choice of a name, a railroad official looked over at the gates and decided that "MENLO PARK" would be appropriate, and so the name was officially adopted. This station is now California State Landmark No. 955, the oldest California station in continuous operation.

Source: Menlo Park Historical Association

Death of the 'McMansion': Era of Huge Homes Is Over???

Source: Excerpted from CNBC August 19, 2010

They've been called McMansions, Starter Castles, Garage Mahals and Faux Chateaus but here's the latest thing you can call them - History.

In the past few years, there have been an increasing number of references made to the "McMansion glut" and the "McMansion backlash," as more towns pass ordinances against garishly large homes, which are generally over 3,000 square feet and built very close together.

What sets a McMansion apart from a regular mansion, according to Wikipedia, are a few characteristics: They're tacky, they lack a definitive style and they have a "displeasingly jumbled appearance."

Well, count 2010 as the year the last nail was hammered into the McCoffin: In its latest report on home-buying trends, real-estate site Trulia declares: "The McMansion Era Is Over."

Just 9 percent of the people surveyed by Trulia said their ideal home size was over 3,200 square feet. Meanwhile, more than one-third said their ideal size was under 2,000 feet.

"That's something that would've been unbelievable just a few years back," said Pete Flint, CEO and co-founder of Trulia. "Americans are moving away from McMansions."

The comments echoed those made in June by Kermit Baker, the chief economist at the American Institute of Architects. "We continue to move away from the McMansion chapter of residential design, with more demand for practicality throughout the home," Baker said. "There has been a drop off in the popularity of upscale property enhancements such as formal landscaping, decorative water features, tennis courts, and gazebos."

"McMansions just look and feel out of place today, given the more cautious environment everyone's living in," said Paul Bishop, vice president of research for the National Association of Realtors.

And homebuilders are heeding the call: In a survey of builders last year, nine out of 10 said they planned to build smaller or lower-priced homes.

Kepler's on the List of Best Independent Booksellers on www.HuffingtonPost.com

Kepler's Books at Menlo Center -- Menlo Park

Mortgage Rates Sink to Lowest Level on Record

WASHINGTON – Mortgage rates fell this week to the lowest level on record, giving consumers added incentive to lock in low payments for home purchases and refinanced loans.

The average rate for 30-year fixed loans sank to 4.69 percent, from 4.75 percent last week, mortgage company Freddie Mac said Thursday.

That's the lowest point since Freddie Mac began tracking rates in 1971. The previous record of 4.71 percent was set in December. Rates for 15-year and five-year mortgages also hit lows.

Rates on 15-year fixed-rate mortgages fell to an average of 4.13 percent. That was the lowest on records dating to September 1991. It was down from 4.2 percent a week earlier.

Rates on five-year adjustable-rate mortgages averaged 3.84 percent, down from 3.89 percent a week earlier. That was also the lowest on Freddie Mac's records, which date back to January 2005 for such loans.

Average rates on one-year adjustable-rate mortgages fell to 3.77 percent from 3.82 percent. That was the lowest average since May 2004.

Mortgage rates have fallen over the past two months as nervous investors have shifted money into the safety of Treasury bonds. The demand for Treasurys has caused Treasury yields to fall. And mortgage rates tend to track the yields on long-term Treasurys.

Yet the falling rates have yet to spark a home-buying boom — or energize the economy. New-home sales collapsed in May after homebuying tax credits expired. The economy also remains under pressure from high unemployment. And many people don't qualify under tightened lending rules.

Source: Associated Press, By ALAN ZIBEL, AP Real Estate Writer

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Menlo Park Atherton Education Foundation -- Record Grant of 2.35M$

Menlo Park-Atherton Education Foundation announced a record grant of $2.35 million to the Menlo Park City School District for the 2010-2011 school year. This gift will fully fund 17 teachers, including full time elementary music, art and library specialists. More than 1,100 families, teachers, district staff and community members supported the Foundation’s fundraising campaign this year.