Sun11232014

Business & Real Estate

Transactions

Los Altos

124 Bridgton Court, J. & K. Buckley to Lauterbach Trust for $5,750,000

1240 Carmel Terrace, Schwarz Trust to N. & D. Hod for $1,865,000

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Local development sold out in four months


Ellie Van Houtte/ Town Crier
Lennar Homes’ 38-unit Sherwood townhouse development sold out in approximately four months. The homes, ranging from $1.1 million to $1.4 million, are located off Sherwood Avenue, between El Camino Real and San Antonio Road in Los Altos.

Buyers looking for a townhouse in Los Altos can probably scratch Lennar Corp. Homes’ Sherwood development off their lists.

According to Lennar sales associate Sierra Legner, the 38-unit townhouse development – located off Sherwood Avenue between San Antonio Road and El Camino Real – closed its final sale last week after approximately four months on the market. She credited a familiar theme for the quick sales of the townhomes: location and schools.

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S&P 500 sets another closing record

The S&P 500 index scored its third record-high closing in four market days Thursday, reaching 1,920.03. The Dow Jones industrial average closed at 16,698.68. Sell in May and go away? Not this year.

As the market advances, investors’ money is not in doubt. The question is whether investors’ enthusiasm has declined amid the up-and-down market volatility. New claims for unemployment benefits fell more than expected and provided another incentive to purchase U.S. stocks.

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Local realtors pitch in to assist seniors


courtesy of RSVP
RSVP volunteers Carlos Padilla, left, and Jimmy Nappo help a 94-year-old Los Altos homeowner with gardening.

Silicon Valley Association of Realtors (SILVAR) members recently helped local seniors with household tasks as part of the association’s Realtor Service Volunteer Program (RSVP).

Every year in May, realtor and affiliate members of SILVAR visit the homes of seniors who are physically and/or financially challenged to help with simple household tasks.

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Transactions

Los Altos

1245 Altamead Drive, J. & T. Benjamin to P. Motafram for $2,150,000

485 Arboleda Drive, Syscom Tech to M. & K. Berman for $4,000,000

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A realtor's guide to buying a vacation home


courtesy of Alex Proimos
Vacation homes made up 13 percent of all home sales nationally in 2013, according to a National Association of Realtors survey.

Across the country, spring is finally making an appearance. For many Americans, this means one thing – vacation time.

More and more people are taking their vacations in a second home, according to the National Association of Realtors’ 2014 Investment and Vacation Home Buyers Survey. The survey found vacation home sales accounted for 13 percent of all sales in 2013, up nearly 30 percent from the previous year. That represents their highest market share since 2006.

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Investors happy with recent Fed moves

Not much was said after the Federal Reserve held its monthly meeting May 21, but investors were pleased. They rallied to boost the Dow Jones industrial average more than 1 percent, the Nasdaq approximately 0.9 percent and the S&P 500 an estimated 0.8 percent. This type of activity before the three-day Memorial Day holiday is very positive, particularly given that investors are still concerned about a correction.

What pleased investors is that the Fed minutes didn’t address when the Fed will begin raising rates and gave no indication of the future of its monthly asset buying. The bond-buying stimulus program will likely be phased out by the end of the year.

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