Los Altos-based PowerFlex merges with EDF Renewables

LAHS PowerFlex Systems” width=
Megan V. Winslow/Town Crier
Los Altos High School has 26 PowerFlex Systems electric-vehicle charging stations.

The Los Altos-based PowerFlex Systems – which installs electric-vehicle charging stations with adaptive charging network technology in the community – was recently acquired by international company EDF Renewables, whose North American headquarters is in San Diego.

Los Altos’ Bluestone Lane secures liquor license, hosts Local’s Hour

Bluestone Lane” width=
Megan V. Winslow/Town Crier
Bluestone Lane in Los Altos recently launched a Local’s Hour, its version of the traditional happy hour. According to the cafe’s staff, the Watermelon Bellini and the Good Greens Granola, above, pair well.

After bringing Aussie-style, all-day breakfast and lunch to Los Altos for two months, Bluestone Lane recently secured a liquor license and has put its twist on a traditional favorite: happy hour.

Incoming bank, foundation team up to donate $100K to area nonprofits

The Village at San Antonio Center” width=
Megan V. Winslow/Town Crier
The Village at San Antonio Center in Mountain View, above, is set to welcome a new tenant in February when Fremont Bank opens a branch. Bank representatives selected the location in an effort to expand the company’s footprint to the southern end of the Peninsula.

When Fremont Bank opens in The Village at San Antonio Center early next year, local residents will already know its name – or at least that’s the hope of Brian Hughes, the grandson of the corporation’s founder and executive director of the Fremont Bank Foundation, a charitable giving program.

Realtors learn how reverse mortgage can help some senior homeowners

A mortgage and personal finance adviser discussed reverse mortgages, an option that can provide cash for some senior homeowners, at a Silicon Valley Association of Realtors district meeting in Mountain View last month.

Andy Block of Opes Advisors explained to realtors how a reverse mortgage works. A reverse mortgage is a loan that allows homeowners 62 and older who have accrued considerable equity in their home to convert part of the equity into money that can be used for a variety of purposes. It’s the reverse of a traditional mortgage in that no monthly payment is required. The senior homeowner can receive funds as a lump sum, fixed monthly payment or line of credit within certain guidelines. The entire loan balance becomes due and payable when the borrower dies, moves away permanently or sells the home. 

Borrowers need to be aware that they are responsible for paying property taxes, insurance and maintenance, just as one would with a traditional mortgage. Many have fallen into the trap of not paying the fees and are then forced into foreclosure.

To qualify for a reverse mortgage, borrowers must be at least 62 years or older and must occupy the property as their primary residence and have considerable equity in their home. The home must meet minimum Federal Housing Administration property standards, and borrowers must meet Financial Assessment guidelines and complete a counseling session with a Housing and Urban Development-approved counselor.

Block said a reverse mortgage is an option for seniors who want to remain in their home but are short on funds to pay for monthly expenses. The loan also can be used to purchase a new home due to relocation, downsizing or even upsizing. Borrowers can use the funds to pay off a traditional mortgage or to build a safety net for unplanned emergencies, home repairs or health-care expenses.

“A reverse mortgage is not the right solution for everyone,” Block said. “However, if a senior needs cash to handle daily living expenses, enhance their quality of life and/or maximize their retirement savings while wanting to remain in their own home, it is certainly a viable option worth considering.”

Borrowers should be aware that by taking equity now, there would be less equity for heirs down the road, Block said.

The Silicon Valley Association of Realtors provided information for this article. For more information, email Rose Meily at This email address is being protected from spambots. You need JavaScript enabled to view it. or visit silvar.org.

Transactions for the week of Oct. 30

Los Altos

62 Chester Circle, Merlo Trust to S. & C. Tseng for $2,900,000

941 Highlands Circle, C. Zhang to R. & N. Dattachowdhury for $2,630,000

609 Hollingsworth Drive, Waddell Family Trust to Rehak Trust for $3,610,000

110 Lyell Street, Nelson Trust to G. & D. Miljkovic for $1,200,000

1230 Patlen Drive, M. Kojo to S. & N. Shankaran for $3,600,000

1035 Ray Avenue, M. Gibbs to N. & N. Lui for $2,500,000

Los Altos Hills

14554 Debell Road, Lewis Trust to H. & G. Setlur for $3,600,000

25055 La Loma Drive, Somekh Investments LLC to M. Ringler for $7,500,000

14945 Page Mill Road, Bru Trust to S. & Z. Liu for $4,900,000

12251 Stonebrook Drive, J. Kim to S. Uppal for $4,100,000

Mountain View

108 Bryant Street No. 9, Yee Family Trust to C. King for $1,325,000

327 Cherokee Loop, San Luis Avenue LP to M. Wang for $1,625,000

1304 Cuernavaca Circulo, Seppeler Trust to T. & A. Guha for $1,675,000

646 Ehrhorn Avenue, Schmitz Trust to Sf19G LLC for $1,825,000

736 Emily Drive, Harwood Trust to Sf19G LLC for $1,200,000

157 Irene Court, D. & J. Maltzer to Z. & C. Wang for $1,330,000

130 Kittoe Drive, Cipolla Trust to Cali Dreams LLC for $1,775,000

751 W. Middlefield Road Unit E, J. & F. Chen to K. Zesmaa for $1,100,000

1945 Mount Vernon Court No. 15, Granholm Trust to N. Li for $848,000

105 Promethean Way, R. Wilson to K. Wu for $1,810,000

3218 Pyramid Way, Head Invs LLC to Hao Trust for $1,680,000

915 San Marcos Circle, Vincent Trust to Y. & S. Liu for $1,890,000

42 Sherland Avenue No. 3, Xchange Solutions to Pablo Properties for $2,700,000

1825 S. Springer Road, Slaughter Trust to Peter J. & Sharon D. Fiekowsky for $2,650,000

721 Tiana Lane, Worthy Trust to A. & S. Paranjape for $2,200,000

Overall

Los Altos

Total sales: 6

Lowest sale: $1,200,000

Highest sale: $3,610,000

Average sale: $2,740,000

Los Altos Hills

Total sales: 4

Lowest sale: $3,600,000

Highest sale: $7,500,000

Average sale: $5,025,000

Mountain View

Total sales: 15

Lowest sale: $848,000

Highest sale: $2,700,000

Average sale: $1,708,900

– Cal REsource

A new kind of social community platform

R Community” width=
Courtesy of Jenny Huang
R Community co-founders Kevin Arnold, left, and Scott Plautz developed a social media platform that aims to build community via curated content delivered to smartphones.

Some of us grew up watching “Mister Rogers’ Neighborhood.” That was the good old times, when we knew our neighbors and what was happening around our town.


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