- Sue and Ken Allen’s Palo Alto home, bought for $63,000 in 1975, is likely worth $3-4 million.
- The threat of capital gains taxes and higher property taxes discourages them from selling.
- Instead, they’re planning to downsize to a tiny home accessory dwelling unit in their backyard and rent out the main house.
Sue Allen and her husband, Ken, moved to Palo Alto in the 1970s, just as the South Bay was beginning to be known as Silicon Valley.
Allen, 75, and her husband, 77, bought their home in South Palo Alto for about $63,000 in 1975. These days, surrounded by Stanford University and the headquarters of a slew of the biggest tech companies in the world, the home is likely worth close to $4 million.
The home is large — in the mid-1980s the couple added a second story to the house to accommodate four additional bedrooms and two bathrooms as their family grew…