Thu10022014

Business & Real Estate

Report shows homeownership still builds wealth

A 2013 Federal Reserve survey revealed that homeownership declined over a span of three years, from 67.3 percent of families owning a primary residence in 2010 to 65.2 percent in 2013. However, the same study shows that homeowners are building more net worth than renters.

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Transactions

Los Altos

1570 Ben Roe Drive, AM Gaash Properties to Pegler Trust for $2,200,000

Mountain View

1111 Blackfield Way, Manser Trust to R. & C. Whitt for $1,720,000

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Skin rejuvenation studio joins Rancho


Ellie Van Houtte/Town Crier
Esthetician Marjan Kashi showcases one of the treatment rooms at her new studio, Pure Serenity Skincare at Rancho Shopping Center. Kashi provides services including microdermabrasion and various light and heat energy therapies.

A new skin care studio aims to bring a little serenity to Los Altos.

Marjan Kashi, owner of Pure Serenity Skincare, opened her doors in late August at 648 Fremont Ave. in Rancho Shopping Center. The location is the former home of Estatements Luxury Consignment, which moved to 395 Main St. in downtown Los Altos earlier this year.

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Raising cash now could be premature

While a market dip would not be surprising, raising cash right now seems premature because we are going through a corrective phase. As an investor since 1956, I am concerned, but I’m sitting quietly because I have gone through this phase numerous times.

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Transactions

Los Altos

595 Avon Way, Hess-Tricamo Trust to J. & G. Chin for $3,400,000

1111 Briarwood Court, Jones Trust to S. Cheng for $2,300,000

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SILVAR offers earthquake safety tips

In light of the 6.0-magnitude earthquake that struck the Napa Valley region last month, the Silicon Valley Association of Realtors reminds homeowners to follow safety measures in the event of another earthquake.

“The majority of Californians live within 20 miles of a major earthquake fault, yet most of us tend to be lackadaisical about earthquake safety,” said SILVAR President David Tonna. “Being prepared could save your life.”

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Fewer distressed sales lead to shift in investor interests

California’s recovering economy – with higher home prices and fewer distressed sales – has shifted investor interest to properties outside the Bay Area, where they hope to find better deals.

The California Association of Realtors 2014 Investor Survey reports that 15 percent of investors purchased properties in Northern California in 2014, down from 27 percent in 2013. In 2014, 40 percent of investors purchased properties in Southern California, down from 50 percent last year. Nearly half (45 percent) of investors purchased properties in Sacramento, San Joaquin, Fresno, Kern, Merced and Tulare counties, up from 27 percent in 2013.

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