Two years of tight supply and intense demand have pushed prices for modest homes in trendy neighborhoods of California's Bay Area to mind-boggling heights. In Palo Alto, tiny homes sell for multiple millions of dollars. In Oakland's sought-after Rockridge district, a home just sold for $500,000 over the asking price. On both sides of the bay, it's the location that commands the biggest price, even as the amount paid per square foot reached new peaks in more than a third of 155 Bay Area ZIP codes analyzed for the San Jose Mercury News by CoreLogic DataQuick. With the price of homes in Palo Alto skyrocketing, Ken Plourde, a 79-year-old retired jazz bass player, decided it was time to sell the...
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