Thursday, July 14, 2005

Googlers Taking Over Atherton?

Looking for a home in Atherton? Watch out for Googlers! [WSJ]

(Password required to read full article.)

"Manuel Henriquez wanted a house in Atherton, Calif., last fall, but he knew time was running out: The Google money was coming.

"So late last year, Mr. Henriquez, a private-equity executive, bid more than $7.95 million on a 10,000-square-foot Atherton house then under construction. Too late: David Cowan, a venture capitalist, had the same idea and won the house for $8.2 million. "I wanted to buy before the Google lockups expired in February," says Mr. Cowan.

"Meanwhile, Mr. Henriquez finally broke his losing streak last month when he bought a 7,400-square-foot Atherton house for $7.4 million, according to the assessor's records. The 41-year-old says he is relieved the "ordeal" of buying in Atherton is over. "I know another 15 to 20 Google families who are still looking to buy here," he says."

Insanity!!