Where do houses — like the one pictured above with 3 Bedrooms, 2 Baths and 2,650 square feet (and no basement*) — go for $1.7 million?

On Stanford-owned land just south of the campus in Palo Alto.

Thanks to booming shares in such companies as LinkedIn and Facebook, demand for housing in and near Silicon Valley is going gangbusters.

According to the agent holding last Sunday’s open house, anything in good condition under $2 million in the area is selling for full price (or more) in less than 60 days.

*The home’s Kitchen was dated, too.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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