The pair hid in a bedroom and one of them called 911 as the man entered the home.
Police, responding to the call, established a perimeter around the adjacent homes while other officers entered the house to make sure the two juveniles were OK.
The man was not inside the home, and a K-9 unit from Livermore helped Pleasanton police search the area.
Christopher Chase, 34, was found hiding in a nearby yard, with property stolen from the home found close to where he was hiding.
Chase was booked into Santa Rita Jail on a count of first-degree burglary. He is being held on $50,000 bail.
Kamp Drive was closed to vehicle traffic for about 90 minutes while police conducted their search.
The Police Department also used an automated system to ask residents in the area to stay inside for their own safety.
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