Sun05012016

News

Loyola Corners economics, traffic rise to top of planning concerns

Loyola Corners economics, traffic rise to top of planning concerns

Alicia Castro/Town Crier
Loyola Bridge construction parallel to the Fremont Avenue frontage may lead officials to alter circulation plans for the area.

Loyola Corners stakeholders last week mulled the issues that will likely shape the area&rsquo...

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Schools

LAHS Green Team commemorates Earth Week

LAHS Green Team commemorates Earth Week


Traci Newell/Town Crier
Los Altos High School Green Team members, above, quiz their classmates about water conservation. The club distributed plants as prizes during the club’s Earth Week activities.

Members of the Los Altos High School Green...

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Community

Local pianist, 11, slated to perform Saturday at statewide competition

Local pianist, 11, slated to perform Saturday at statewide competition


Courtesy of the Cha family
Spencer Cha plays piano at a Santa Clara University recital. The sixth-grader also enjoys soccer, tennis, golf and skiing.

Spencer Cha has come a long way since he first sat down at the piano at age 2.

“I remem...

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Sports

Spartans net second place, eye top prize next season

Spartans net second place, eye top prize next season


Megan V. Winslow/Town Crier
Jeremy Hsu, Mountain View High’s top singles player, competes against Pinewood Thursday. The Spartans won the match 7-0.

With freshmen playing the top three spots in singles, the future of the Mountain View High boy...

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Comment

Los Altos at a leadership crossroads: Editorial

Don’t look now, but there could be some major changes ahead regarding how the Los Altos city government is run.

The current city council has the opportunity to hire a new city manager in the wake of Marcia Somers’ recent resignation. Fur...

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Special Sections

How to personalize the wedding bar

How to personalize the wedding bar


Christine Moore/Special to the Town Crier
A seasonal signature cocktail adds interest beyond the standard wedding bar’s spirits and mixers. Focus on one set of fresh ingredients, such as blueberries, blackberries and mint for a dose of budget...

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Business

Farmers prepare to market season's bounty

Farmers prepare to market season's bounty


Alicia Castro/Town Crier
Journeyman farmer Jen Friedlander waters Hidden Villa’s greenhouse plants, which will grow stronger in the controlled indoor environment before being transferred to the field outdoors.

Around Hidden Villa, the gree...

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People

BUOL JOANNE DOUGHERTY

BUOL JOANNE DOUGHERTY

1930-2016

Heaven gained a beautiful angel today. Our beloved mother’s blessed life ended in her Los Altos home surrounded by her loving family on April 18, 2016.

Buol Joanne Dougherty was born Sept. 28, 1930 in Chicago. At the age of two, M...

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Stepping Out

'Catch' comes to conclusion LA Stage Co. comedy  ends run this weekend

'Catch' comes to conclusion LA Stage Co. comedy ends run this weekend


Richard Mayer/Special to the Town Crier
Bryan Moriarty, left, stars as Yossarian and John Stephen King plays the Psychiatrist in Los Altos Stage Company’s “Catch-22.”

Los Altos Stage Company’s presentation of “Catch...

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Spiritual Life

California housing affordability level drops

Lower inventory, high demand and rising interest rates have significantly reduced housing affordability in California. The California Association of Realtors recently reported that housing affordability in the third quarter of 2013 fell for the sixth consecutive quarter, after reaching an all-time high in the spring of 2012.

California housing affordability hit a record high of 56 percent in the first quarter of 2012. The third-quarter 2013 figure fell below 35 percent for the first time since the third quarter of 2008.

The percentage of homebuyers who could afford to purchase a median-priced existing single-family home in California dropped to 32 percent in the third quarter of 2013, down from 36 percent in the first quarter of 2013 and from 49 percent in the third quarter of 2012, according to the association’s affordability index, which measures the percentage of households that can afford to purchase a median-priced single-family home.

“With Silicon Valley’s economic recovery, there is no doubt that it has become more difficult for homebuyers, especially first-time homebuyers, to purchase a home in the region,” said Carolyn Miller, president of the Silicon Valley Association of Realtors. “Many businesses are expanding their labor force, and unless more inventory and new home construction ease the shortage of housing, home prices are expected to continue rising next year.”

Homebuyers needed to earn a minimum annual income of $89,170 to qualify for the purchase of a $433,940 statewide median-priced existing single-family home in the third quarter of 2013. The monthly payment, including taxes and insurance on a 30-year fixed-rate loan, would be $2,230, assuming a 20 percent down payment and an effective composite interest rate of 4.36 percent.

The composite interest rate was 3.72 percent in the third quarter of 2012. The median home price was $339,930 in the third quarter of 2012, and an annual income of $65,828 was needed to purchase a home at that price.

The California Association of Realtors reported that nearly every county experienced a double-digit decline in affordability when compared to last year.

In Santa Clara County, only 21 percent of homebuyers could afford to purchase a median-priced single-family home in the third quarter of 2013, down from 32 percent in the third quarter of 2012. Buyers needed to earn a minimum annual income of $165,420 to qualify for the purchase of an $805,000 median-priced single-family home. The monthly payment, including taxes and insurance on a 30-year fixed-rate loan, would be $4,140.

The Silicon Valley Association of Realtors provided information for this article. For more information, email Rose Meily at This email address is being protected from spambots. You need JavaScript enabled to view it. or visit silvar.org.

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