Fri10312014

Business & Real Estate

Fewer distressed sales lead to shift in investor interests

California’s recovering economy – with higher home prices and fewer distressed sales – has shifted investor interest to properties outside the Bay Area, where they hope to find better deals.

The California Association of Realtors 2014 Investor Survey reports that 15 percent of investors purchased properties in Northern California in 2014, down from 27 percent in 2013. In 2014, 40 percent of investors purchased properties in Southern California, down from 50 percent last year. Nearly half (45 percent) of investors purchased properties in Sacramento, San Joaquin, Fresno, Kern, Merced and Tulare counties, up from 27 percent in 2013.

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Transactions

Los Altos

37 Farm Road, G. Ivanitsky to A. Park for $1,175,000

1124 Fremont Avenue, Weeks Trust to H. Browne for $2,250,000

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Transactions

Los Altos

1034 Highlands Circle, Ryan Trust to Anderson Trust for $1,960,000

40 Oak Street, E. Johnson to J. Wood for $2,750,000

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Transactions

Los Altos

1932 Alford Avenue, Marietta Trust to B. & M. Po for $1,700,000

10 Alma Court, Burrill Enterprises to C. & A. Ing for $2,660,000

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Transactions

Los Altos

735 Alvina Court, Green Trust to A. Ramani for $2,300,000

10554 Creston Drive, Navone Trust to R. & S. Sajja for $1,800,000

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Transactions

Los Altos

38 Third Street #103, Bergman Trust to Bellas Survivors Trust for $1,602,000

1092 Laureles Drive, Schick Trust to K. Xu for $3,135,000

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Reasons behind the uptick in property taxes

It’s that time of year when the county assessor sends notice of your estimated home value as of Jan. 1.

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