Wed07302014

Business & Real Estate

Transactions

Los Altos

72 Bay Tree Lane, Lynch Trust to Siedenburg Trust for $2,413,000

449 Casita Court, American Financial to J. & Y. Wang for $4,450,000

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In the business of fostering business


took over as Los Altos’ new economic development coordinator in May after spending the past two years working as city assistant planner. Ellie Van Houtte/ Town Crier

Sierra Davis is wearing a slightly different hat these days as a Los Altos city employee.

The 27-year-old Sacramento native assumed the position of economic development coordinator in May, just two years after joining the city as an assistant planner. A Cal Poly, San Luis Obispo graduate with a degree in city and regional planning, Davis began her career as a public employee working as an intern in the city of Morro Bay’s Planning Department – a role that later turned into a permanent full-time position.

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Brace for quarterly earnings surprises

Starting this week, we are headed into the earnings season, which could bring some healthy – and unhealthy – surprises. The market remains bullish, and it would need to suffer a significant correction over the next three to 10 weeks to become bearish.

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Transactions

Los Altos

1550 Canterbury Way, Morgan Trust to J. & R. Levin for $1,898,000

4746 El Camino Real, Lennar Homes to C. Chow for $1,311,000

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Campi continues to thrive at 25


Diego Abeloos/Town Crier
Gary and Karen Campi started Campi Properties, Inc. after a partnership split in 1989. The couple has lived in Los Altos since the mid-1970s.

A real estate company that established its roots in Los Altos before the emergence of the iPhone – or the boom and bust times of the Bay Area dot-com scene, for that matter – has turned 25.

Campi Properties Inc. founders Gary and Karen Campi recently celebrated their company’s two-and-a-half-decade stay in Los Altos. It started with a partnership split (formerly Eckert & Campi) and was up and running within one week with more than a dozen agents operating in a small office rented from a local title company.

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Dow Jones average exceeds 17,000

July is a cool time to own stocks. If you’re thinking of going on vacation to a sandy beach, you better keep in touch. The Dow Jones industrial average topped 17,000 for the first time Thursday on a bullish June jobs report.

With the market closed Friday for Fourth of July, Thursday the Dow was up 92.02 points at a record-high 17,068.26. The S&P 500 closed at 1,985.44, just short of a new 52-week high.

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Realtor association issues wire-fraud alert

The Silicon Valley Association of Realtors is alerting buyers and sellers to a recent scheme that involves the wiring of funds directly to escrow.

Potential buyers have received emails allegedly from a title company or attorney providing wire information to transmit earnest money for an upcoming transaction. Hackers have intercepted the messages and altered the account information in emails to redirect the buyer’s funds to the hackers’ account.

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