Fri11282014

Business & Real Estate

Report: Los Altos homes priciest in U.S.


ToWn Crier File Photo
The average cost of a four-bedroom, two-bathroom home in Los Altos is 30 times more than the price of a similar home in Cleveland, according to a Coldwell Banker report.

The average cost of one Silicon Valley home can purchase as many as 30 homes in the Midwest, according to the recent Coldwell Banker Home Listing Report.

The report ranked Los Altos as the most expensive market in the U.S. for the second time in three years. Overall, eight Bay Area cities ranked in the top 10 in the national survey.

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Market trend remains bullish

While the major averages have been moving sideways since the beginning of November, the trend is still bullish.

When the market opened Friday, another record was set. The jump in oil prices, unchanged interest rates and good reports from China and Europe helped bullish investors stay on track for a fifth week of gains. The market’s strength is also reflected in solid economic reports, good news on inflation and a healthy third-quarter earnings season. More than 75 percent of the Standard & Poor’s 500 companies exceeded profit estimates for the latest quarter.

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SILVAR recognized for global achievement


courtesy of SILVAR
SILVAR’s Paul Cardus, left, and David Tonna display the organization’s NAR Platinum Awards.

The National Association of Realtors recognized the Silicon Valley Association of Realtors (SILVAR) for the second time with its NAR Platinum Award, part of its Global Achievement Program.

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Transactions

Los Altos

120 Catalina Court, G. & C. Scrivano to S. & N. Shah for $3,162,500

960 Crooked Creek Drive, E. & K. Nadir to A. Sharma for $2,100,000

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Business Brief


Rendering courtesy of Sares Regis Group

Exercise studio coming to Colonnade

Exercise studio barre3 is scheduled to open next year at the Colonnade development at 4750 El Camino Real in Los Altos, pictured above.

The studio – which combines ballet with yoga and Pilates – has leased 1,460 square feet of retail space in the development, which will include 167 apartment units, 38 townhouses and retail once completed. The studio is the third business to sign on at the Colonnade – joining The Vitamin Shoppe and Jos. A. Bank.

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State Street science center closing Nov. 30


Ellie Van Houtte/
Helix at 316 State St. is closing after the completion of a one-year grant from Passerelle Investment Co. The science center became a popular destination because of its various exhibits. Town Crier

A popular downtown destination for science lovers and curious folks is leaving Los Altos.

In a letter to customers earlier this month, Helix by Exploratorium Director Anne Richardson announced that the science center at 316 State St. is closing its doors Nov. 30.

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Optimism produces stock highs

There’s been a lot of upward stock momentum in recent days. The Dow Jones industrial average set another record Thursday when it closed at 17,652.79 – the 25th time the market posted a new high this year.

These record highs reveal the optimism expressed by investors when they call their brokers. Bullishness is at its highest level since December 2010, while the bearish sentiment predicting that the markets will fall over the next six months has risen to 19.3 percent.

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