Business & Real Estate

Are you guilty of extrapolation bias?

In the jargon of behavioral finance, “extrapolation bias” refers to the tendency to overweight recent events when making decisions about the future. Also known as “recency bias,” this is a very real challenge we must learn to overcome if we are to invest rationally.

Have you ever flipped a coin a number of times in a row and gotten all heads? If so, what did you expect to get on the next flip? If you’re like most people, the answer is “tails.” But even if you flipped 20 heads in a row, the statistical likelihood of getting tails on the next flip is still 50 percent. Many people struggle to intuitively grasp that fact.


Local couple launches downtown restaurant

Alicia Castro/Town Crier
The Turn Bar & Grill crew prepares for the restaurant’s impending opening.

Jim and Julie Otis are prepared to realize their longtime dream.

The couple – lifelong Los Altos residents – wanted to ensure that their farm-to-fork restaurant was done well. After years of brainstorming and many months of planning, Turn Bar & Grill is scheduled to open in downtown Los Altos this month.


Is the sell-off a wake-up call?

The most effective stock planning can’t determine every outcome, because bad days arrive on the stock market that make you check your cash position. Last week provided a great example.


Adobe Animal Hospital expands to Los Gatos

Photos Courtesy of Adobe Animal Hospital
The Los Altos-based Adobe Animal Hospital expanded to include a clinic in Los Gatos this spring. The South Bay outpost features a pet-product marketplace.

The Los Altos-based Adobe Animal Hospital opened a Los Gatos location this spring.

Five years after moving into their expanded Los Altos location on El Camino Real, Adobe’s veterinarians felt that they were already reaching capacity in their new space.



Los Altos

100 First Street No. 217, Los Altos8 Limited to Hartenbaum Trust for $1,625,500

692 Benvenue Avenue, J. & V. Green to Duterme Trust for $2,860,000


Realtor survey finds investors shifting focus toward multifamily properties

With the depletion of available distressed homes on the market over the past two years, more investors are shifting their focus to multifamily properties and away from single-family homes, according to a survey conducted by the California Association of Realtors.

The association’s 2015 Investor Survey, which asks members about their interactions with investors, revealed that 21 percent of investors purchased multifamily properties in the past year, up from 19 percent in 2014 and 14 percent in 2013.


SILVAR ventures to Washington, D.C.

AR Realtors meet with U.S. Rep. Anna Eshoo, center. Los Altos resident Carole Feldstein, second from right, serves as SILVAR’s federal political coordinator for the congresswoman.

Silicon Valley Association of Realtors representatives traveled to Washington, D.C., last month for the National Association of Realtors Legislative Meetings & Trade Expo.

SILVAR members met with U.S. Reps. Anna Eshoo and Jackie Speier, as well as staff of U.S. Rep. Mike Honda during the May 11-16 conference. They urged the elected officials to preserve current real estate-related tax policies and extend the Mortgage Forgiveness Tax Relief Act, which expired at the end of 2014 and prevents distressed homeowners from facing excessive income-tax bills on forgiven home-loan debt.


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