Tidy, upscale residential community—the Greenwich of Silicon Valley. In 1866, Atherton was known as Fair Oaks, and was a flag stop on the California Coast Line of the Southern Pacific Railroad between San Francisco and San Jose for the convenience of the owners of the large estates who lived north of Menlo Park.The entire area was called Menlo Park.
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"One of the reasons Atherton is so hot right now is that Brokers say their buyers are all cash and that investors from China will often pay for a mansion sight unseen.
Public records reveal that Silicon Valley billionaires including Microsoft cofounder Paul Allen, HP CEO Meg Whitman, and Google chairman Eric Schmidt reside in the idyllic suburb of Atherton, California. Melia Robinson/Business Insider You've heard it before: the rich are getting richer. as well as other partner offers and accept our Real estate brokers say last year there was a frenzy of buying for homes in the $5 million range, but this year demand is shifting to the even more expensive houses. It's easy money for the best brokers. Just in the first quarter of 2014, there were seven sales of mansions in Atherton in excess of $10 million.
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That's saying something when you are talking about $10 million-plus estates. Atherton, California, is the third most expensive zip code in the US.
2017-10-07T15:00:00Z Melia Robinson/Business Insider