Tue06302015

Business & Real Estate

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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Business Brief


courtesy of Cobalt Power Systems Inc.
The Cathedral of Faith campus in San Jose, above, recently selected Cobalt Power Systems Inc. to design and install its new solar photovoltaic system.

Local firm to install cathedral’s solar system

The Mountain View-based Cobalt Power Systems Inc. recently reported that it has been selected to design and install a 658-kilowatt solar photovoltaic system at the Cathedral of Faith in San Jose.

“We are very pleased to be selected for this significant installation on the Cathedral of Faith campus,” said Daniel Hill, Cobalt’s director of sales and marketing. “We expect the project to be complete and producing power for the campus by March.”

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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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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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