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Business & Real Estate

Optimism produces stock highs

There’s been a lot of upward stock momentum in recent days. The Dow Jones industrial average set another record Thursday when it closed at 17,652.79 – the 25th time the market posted a new high this year.

These record highs reveal the optimism expressed by investors when they call their brokers. Bullishness is at its highest level since December 2010, while the bearish sentiment predicting that the markets will fall over the next six months has risen to 19.3 percent.

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Transactions

Los Altos

385 Anita Avenue, V. & C. Sarkissian to Peruri Trust for $1,950,000

594 Avon Way, Nash Trust to Zhu & Xia Trust for $2,602,000

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Bulls continue to drive the market

Our friendly bull visited the market again Oct. 31 and stayed active all last week with new highs each day. When the Dow Jones industrial and transportation averages reach all-time highs simultaneously, it reconfirms a bullish trend.

What makes the market look particularly good is the 10-year Treasury yield, presently at 2.32 percent.

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Transactions

Los Altos

766 Arroyo Road, Conn Trust to K. & M. Kozo for $2,411,000

170 Frederick Court, C. Pfister to H. Hou for $2,413,500

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Report shows luxury home sales up 21 percent

Silicon Valley’s luxury housing market remained hot in September, with sales climbing 21 percent over the same month last year and median prices edging higher, according to a monthly report by Coldwell Banker Residential Brokerage.

The report’s figures are based on Multiple Listing Service data of all homes sold in September for more than $1.5 million in Santa Clara County. A total of 159 luxury homes sold in September, up from 131 sales in September 2013. September sales were lower than August’s 185 transactions – which real estate officials attributed to common seasonal declines from August to September.

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Survey: Millennials value homeownership

Millennials value homeownership but believe that it might take longer before they buy a home, according to a California Association of Realtors survey.

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State's top tax debtors owe $129 million

The California Franchise Tax Board recently updated its Top 500 Delinquent Taxpayers list, revealing that 316 individuals and 62 businesses owe the state more than $129 million in combined income taxes.

In August, the Franchise Tax Board sent letters to 500 taxpayers scheduled to appear on the list if they failed to resolve their tax debts. Prior to the list’s publication, 122 taxpayers resolved their accounts. The Top 500 list is published every April and October. Being on the Top 500 Delinquent Taxpayer list carries added provisions:

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