Fri10312014

Business & Real Estate

Mortgage experts see more growth ahead

Mortgage industry officials recently told Silicon Valley Association of Realtors members to plan for more growth over the next two to three years because of continued economic momentum in the Bay Area.

Opes Advisors CEO and President Susan McHan and Chief Investment Officer and Principal Mark Duvall offered a positive outlook on the national and local economy. They noted that consumers are in the best financial position in years – there are more jobs, disposable income is up and retail sales are robust. In addition, the S&P 500 index is 22.7 percent higher than one year ago, corporate profits are up, inflation remains largely in check and housing is stabilizing nationally.

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Transactions

Los Altos

633 Almond Avenue, D. Blackburn to A. Bourgan for $3,125,000

1417 Ernestine Lane, L. McAllister to M. Shing for $1,425,000

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Realtors share steps to repair identity theft

It can be a nightmare to repair the damage that occurs when you become an identity-theft victim. Not only can it cost a lot of time and money, but identity theft can also be very stressful to resolve, according to San Jose attorney Anita Steburg.

Last year, approximately 11 million Americans were victims of identity theft. Identities were stolen from mailboxes, trash bins and documents that contain driver’s license and credit card information. Security breaches at department stores and high-tech companies have made headlines recently.

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Report shows homeownership still builds wealth

A 2013 Federal Reserve survey revealed that homeownership declined over a span of three years, from 67.3 percent of families owning a primary residence in 2010 to 65.2 percent in 2013. However, the same study shows that homeowners are building more net worth than renters.

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Transactions

Los Altos

1570 Ben Roe Drive, AM Gaash Properties to Pegler Trust for $2,200,000

Mountain View

1111 Blackfield Way, Manser Trust to R. & C. Whitt for $1,720,000

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Transactions

Los Altos

595 Avon Way, Hess-Tricamo Trust to J. & G. Chin for $3,400,000

1111 Briarwood Court, Jones Trust to S. Cheng for $2,300,000

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SILVAR offers earthquake safety tips

In light of the 6.0-magnitude earthquake that struck the Napa Valley region last month, the Silicon Valley Association of Realtors reminds homeowners to follow safety measures in the event of another earthquake.

“The majority of Californians live within 20 miles of a major earthquake fault, yet most of us tend to be lackadaisical about earthquake safety,” said SILVAR President David Tonna. “Being prepared could save your life.”

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