Sun02012015

Business & Real Estate

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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New State Street retailer takes shape


Ellie Van Houtte/Town Crier
Jane Kim opened ettim at 253 State St. last month.

Ettim, the custom women’s shapeware retailer, is a household name in Korea, and a local entrepreneur wants the brand to uplift the lives of American women as well.

After stepping away from a similar business 10 years ago, Saratoga resident Jane Kim launched ettim at 253 State St. in Los Altos last month.

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Stocks surge to all-time highs

Boosted by third-quarter earnings reports, stocks of most classes bounced from lows in mid-October to new record territories.

As long as economic growth remains decent and consumer sentiment high – it’s the highest since July 2007 – investors should feel confident and dismiss concerns about a slowing economy.

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How some spend more than they earn

The Wall Street Journal recently ran an article about affluent individuals and families who, despite high six-figure salaries, managed to pile up a huge amount of debt. They cited one woman who had accumulated $300,000 in debt despite earning more than $200,000 a year.

Readers’ responses, unsurprisingly, were variously indignant, angry and puzzled. Many couldn’t understand how it’s even possible to spend that much more than one’s income.

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Transactions

Los Altos

2049 El Sereno Avenue, J. Tong to W. Tong for $1,600,000

1453 Lloyd Way, Z. Sun to M. Stattler for $1,500,000

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