Over the past three decades, Silicon Valley, with Palo Alto right in the center of it all, has seem the advent of the fast paced cyber world that has impacted all aspects of life. Palo Alto and nearby cities became the hub for computer companies developing everything from video games to film animation. Being next to Stanford University & Medical center, having an outstanding school district together with the venture capital and biotech firms in the area, substantially increased the demand for housing and gave rise to a sharp increase in property values.
With little inventory and fewer homes going on the market, an alternative to buying up became remodeling or demolishing and rebuilding new large luxury homes. With the market changing so drastically, the last few months of sales was no longer a viable indication of market value. Donald Douglas developed a measure for value by creating a story board for Old Palo Alto homes. He identified and assigned value to homes that were remodeled and rebuilt and which had no record of being sold. The story board and the prior months sales provided a more accurate picture of the market condition and market value of the area. With time, remodeled homes started reselling.