Thu05052016

Business & Real Estate

Realtors optimistic about home sales in 2016

The housing market celebrated its best year in nearly a decade in 2015.

In 2016, realtors expect existing-home sales to expand, but at a more moderate pace due to pressures on housing affordability and economic growth, according to National Association of Realtors Chief Economist Lawrence Yun. Yun expects total existing-homes sales this year to grow between 1 and 2 percent (5.3 million to 5.4 million) and prices to increase between 5 and 6 percent.

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Businesses on Main Street make moves


Alicia Castro/Town Crier
Several stores on Main Street in downtown Los Altos are in the midst of changing hands.

In the coming months, Main Street will welcome several new businesses to fill empty storefronts.

Jennifer Quinn, the city’s economic development manager, said merchants and brokers have voiced concern with recent downtown vacancies and turnovers.

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Market receives gift from Japan

We live in a global economy. At one point last week, the Standard & Poor’s 500 index loss for 2016 reached 11 percent. However, investors became happy overnight when the Bank of Japan unexpectedly cut interest rates below zero to stimulate the Japanese economy, and the S&P recovered to end January down only 5 percent.

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Business Briefs

MV prepares for super business

Participating Mountain View businesses will offer special deals through Sunday as part of Chamber of Commerce Mountain View and the Central Business Association’s Super Bowl 50 festivities.

During game week, black and gold posters denote participating businesses.

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Transactions

Los Altos

10490 W. Loyola Drive, Johnson Trust to West Loyola Drive Limited for $2,500,000

Mountain View

219 Carmelita Drive, Williamson Trust to Canyongate Bay for $1,820,000

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City's new business liaison looks to boost local economy


Megan V. Winslow/Town Crier
Jennifer Quinn, Los Altos’ new economic development manager, has spent the past seven months becoming acquainted with local business owners and developing programs to support their work.

Jennifer Quinn wants to know what drives Los Altos’ economy.

For the past seven months, the city’s new economic development manager has taken steps to learn the landscape.

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Earnings determine stock moves

With the Dow Jones industrial average in a bearish state, investors should take a more cautious approach to the stock market in 2016. Fourth-quarter earnings season begins with the average U.S stock down more than 10 percent since Dec. 29.

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