06292016Wed
Last updateTue, 28 Jun 2016 5pm

Local luxury-home prices climb, but sales, inventory dip in October

Luxury-home prices in Silicon Valley continued to climb in October as buyers competed for the relatively few available properties on the market, according to a new report by Coldwell Banker Residential Brokerage, a specialist in high-end real estate sales.

The median sale price of a luxury property rose 7 percent in October from a year ago to $2.1 million. The jump represented a 10.6 percent increase from September’s median price. The figures are based on Multiple Listing Service data for all homes sold for more than $1.5 million in October in Santa Clara County.


Downtown merchants stock up for holiday season shopping


Megan V. Winslow/ Town Crier
Ellen Biolsi, left, owns State Street’s Cranberry Scoop, which now features seasonal gifts and twinkling trees with ornaments. Biolsi said events like Small Business Saturday provide opportunities for local residents to support retail in their towns.

In downtown Los Altos, it’s beginning to look a lot like Christmas shopping.

Preceding post-Thanksgiving retail events, holiday gift buying commenced Nov. 13 with the Los Altos Village Association’s 13th annual Holiday Stroll.

NAR economist: Silicon Valley is Florence of 'tech renaissance'

Economists impressed with Silicon Valley’s economic growth since the recession have described the region as “special,” and the National Association of Realtors’ chief economist had a particular comparison at a recent meeting.

“Silicon Valley is the Florence of the technology renaissance,” Lawrence Yun told members of the Silicon Valley Association of Realtors at their annual meeting, held in October at the Computer History Museum in Mountain View.

Transactions

Los Altos/ Los Altos Hills

10495 Albertsworth Lane, Busch Trust to T. Boros for $2,528,000

996 Crooked Creek Drive, D. & J. Han to M. Sharangpani for $2,630,000

Maltby's pulls out the stops to stay in biz


Town Crier File Photo
Maltby’s Public House proprietor James Maltby is making changes to draw new diners.

Let the word spread: Maltby’s Public House restaurant and tavern in downtown Los Altos is not only open indefinitely, it’s also sporting a new menu, an improved happy hour and reduced prices.

Proprietor James Maltby promises daily pasta specials at lunchtime and daily dinner specials such as Meatloaf Mondays and Curry Fish Fridays. He’s also introducing a 4-6 p.m. happy hour with appetizers half-off and bar drinks starting at $6.

Transactions

Los Altos

660 Covington Road, Qtip Trust to J. Wang for $2,700,000

4388 El Camino Real No. 119, H. Fan to S. & M. Howarth for $1,150,000

New law impacts Social Security

President Barack Obama Nov. 2 signed the Bipartisan Budget Act of 2015, which includes a number of changes to Social Security rules. With the stroke of a pen, Obama and Congress eliminated some lucrative benefits that had been on the books for well over a decade.


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