Sat12202014

Business & Real Estate

Transactions

Los Altos

1287 Fremont Avenue, I. Chico to M. & R. Sarin for $2,901,000

2737 Ramos Court, Cappelletti Trust to C. & P. Pires for $1,703,000

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Last call for Maltby's Public House?: Longtime downtown restaurant unlikely to renew its lease


Town Crier File Photo
James Maltby, left, faces the likely closure of his 17-year-old downtown establishment, Maltby’s Public House, in January.

A longtime downtown Los Altos establishment may be in its final days of existence.

Maltby’s Public House owner James Maltby told the Town Crier that he will likely close his 17-year-old restaurant at 101 Plaza North after he couldn’t come to terms on a new lease agreement with his landlord last week. Maltby noted that a new lease agreement would have included a significant increase in his monthly rent payment. Maltby said he’s currently paying just shy of $11,000 per month, which he called “already a stretch.”

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Local realtors seek international designation

Twenty-three realtors recently attended the National Association of Realtors Certified International Property Specialist (CIPS) Institute offered by the Silicon Valley Association of Realtors (SILVAR).

Attendees included realtors from the local trade association and other realtor groups around the Bay Area. It was the third CIPS Institute offered to both members and nonmembers, providing them the opportunity to learn more about global real estate to serve their international clients more completely.

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Transactions

Los Altos

101 Second Street No. 5, Tanczos-Szabo Trust to Chen Trust for $705,000

4388 El Camino Real No. 178, L. Sheflin to MacDonald Trust for $1,175,000

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Housing market success hinges on inventory

The California Association of Realtors recently reported that the U.S. economy is doing well after recovering the 8.8 million jobs the country lost during the downturn.

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Transactions

Los Altos

1694 Ben Roe Drive, Joslin Trust to Harrison Trust for $1,850,000

939 Clinton Road, S. & L. Poonen to S. & A. Krishnamachari for $2,850,000

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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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