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Preview: L.A. Times - Real Estate News

L.A. Times - Real Estate News

Real estate news for Los Angeles, Southern California and beyond, including Hot Property (celebrity homes), home tours, and more.

Last Build Date: Tue, 24 Apr 2018 02:49:31 -0700

Copyright: ©2018 Los Angeles Times

San Diego home price hits new record high: $550K

Mon, 23 Apr 2018 15:55:00 PDT

The San Diego County median home price soared to its highest point ever, $550,000, in March, said real estate tracker CoreLogic.

Home prices increased 6.8 percent in a year, which experts attribute to a lack of homes for sale and a strong economy. The previous home peak was $545,000 in June.



Fox News host Sean Hannity says he never talked to HUD about loans that helped his real estate investments

Mon, 23 Apr 2018 10:15:00 PDT

Fox News host Sean Hannity said he had no direct discussions with the Department of Housing and Urban Development regarding loans for his real estate holdings revealed in a Sunday report by the Guardian.

The Guardian reported that Hannity has investments in shell companies that have bought real...


The Manor in Holmby Hills is back on top at $200 million

Sat, 21 Apr 2018 06:00:00 PDT

The most expensive home for sale in America is still found in Los Angeles, but it’s no longer the larger-than-life mansion that debuted a year ago in Bel-Air at $250 million.

That speculative wonder of owner-developer Bruce Makowsky has returned to the Multiple Listing Service at $188 million....


Mission Valley's Civita breaks ground on low-income rentals

Wed, 18 Apr 2018 04:05:00 PDT

More low-income apartments are coming to Mission Valley’s upscale expensive Civita development.

Developers Chelsea Investment Group and Sudberry Properties broke ground on the project this weekend. The cost to build the 306-unit complex is $137.5 million, or $449,000 per unit, inside the luxury...


L.A King Dustin Brown heats up the Manhattan Beach home market

Sat, 14 Apr 2018 06:00:00 PDT

Dustin Brown and the Kings are making another run in the Stanley Cup playoffs, but away from the ice, the star right winger is making a play of a different sort: He and his wife, Nicole, have put their home in the Manhattan Beach area up for sale at $6.999 million.

Custom-built for Brown and his...


Rising interest rates sounding alarm bells for debt-laden consumers

Fri, 13 Apr 2018 06:00:00 PDT

A healthy economy can be a dangerous thing.

Americans have a history of loading up on debt in good times, then paying dearly when the bills come due. Adding to the pain: A booming economy is often accompanied by rising interest rates, which make mortgages, credit cards and other debt much more...


Another high-dollar sale in March keeps things hot in Malibu

Fri, 13 Apr 2018 05:30:00 PDT

Another blockbuster sale along the sand in Malibu paved the way for L.A. County’s highest-priced home sales for the month of March. In the Beverly Hills market, two sales tipped the scales at $22 million or more.

Here’s a larger look.

$38 million — Malibu

Hollywood film producer Joel Silver sold...


Lawsuits filed against L.A. County, lenders over green energy program

Thu, 12 Apr 2018 13:45:00 PDT

Attorneys representing homeowners filed lawsuits Thursday against Los Angeles County, alleging a county program that funds solar panels and other energy-efficient home improvements is a “plague” that’s ruined the finances of many borrowers by saddling them with loans they cannot afford.

The twin...


San Diego average rent up to $1,887, breaking record. Will it last?

Tue, 3 Apr 2018 17:50:00 PDT

The average rent in San Diego County hit a record $1,887 a month in March, increasing 8 percent in a year, said a new report released this week.

High-end apartment complexes downtown helped raise the rates substantially, especially those that opened in the last few months, according to data from...


Green Flash, awash in debt, is sold to investment firm

Tue, 3 Apr 2018 14:15:00 PDT

San Diego’s financially troubled Green Flash brewery has been sold to a group of investors following a foreclosure by the company’s principal lender, Comerica Bank.

As a result of the sale, which closed Friday, a new ownership group calling itself WC IPA LLC is taking over and making a number of...


As China puts the brakes on overseas investment, Los Angeles' development boom takes a hit

Sun, 1 Apr 2018 03:00:00 PDT

Last year, Chinese investors interested in buying or developing property in Southern California peppered World Trade Center Los Angeles officials with questions about how best to break into the market.

What’s the difference between city governments and county governments, they might ask. Or, are...


Facebook, Yelp clash with California homeowners over plan to dramatically boost development

Fri, 30 Mar 2018 07:30:00 PDT

California is bracing for a high-profile fight over the state’s housing crisis. And the clash is pitting Silicon Valley technology executives, who want to cut regulations that make it hard to build multi-story apartment buildings, against existing homeowners and affordable housing advocates.



Neighborhood Spotlight: Mission Hills has been favored — and thrashed — by its geography

Fri, 30 Mar 2018 05:00:00 PDT

Mission San Fernando has stood watch over the Valley floor in one form or another for the last 220 years.

The building we’re familiar with today is on the site where generations of Angelenos have marked the milestones of life, from joyful baptisms to the solemn business of funeral Masses, and the...


It's deceptively called the Healthy Homes and Schools Act, and it's a taxpayer ripoff

Fri, 30 Mar 2018 03:00:00 PDT

You might be asked any day to sign a petition supporting a proposed California ballot initiative called the Healthy Homes and Schools Act — and who doesn’t like the idea of healthy homes and schools?

What the person gathering signatures won’t tell you is that the deceptively titled Healthy Homes...


This downtown parking lot could become an apartment building

Thu, 29 Mar 2018 14:25:00 PDT

A Canadian real estate developer has purchased a parking lot in East Village, and two historic homes on the site, for $9.2 million with plans to turn it into a 32-story apartment building.

Capexco, based in Calgary, purchased the 20,000-square-foot lot with roughly 50 parking spots at the corner...


Barclays agrees to $2-billion settlement stemming from crisis-era toxic mortgage bonds

Thu, 29 Mar 2018 10:00:00 PDT

Barclays Plc agreed to pay $2 billion in civil penalties to settle a U.S. investigation into its marketing of residential mortgage-backed securities between 2005 and 2007 that were backed by subprime loans that went into default.

The probe resolves a rare Justice Department lawsuit that the bank...


Chinese investment in Los Angeles and U.S. real estate plunged in 2017 on new restrictions

Tue, 27 Mar 2018 13:40:00 PDT

Speculation that Chinese investments in U.S. real estate would plummet after Beijing enacted tighter regulations on outbound investments last August has proved correct.

There was a 55% drop in new Chinese investment in U.S. commercial real estate in 2017 compared with the year before, as spending...


San Diego home price among biggest nationwide increases

Tue, 27 Mar 2018 11:05:00 PDT

San Diego County home prices rose 7.4 percent in a year as of January, said a key real estate index released Tuesday.

The region had the seventh-highest price gains out of the 20 cities in the S&P CoreLogic Case-Shiller Indices.

The bottom line: All regions covered in the index had price gains...


Industrial park breaks ground near U.S.-Mexico border

Mon, 26 Mar 2018 15:20:00 PDT

Construction began recently near the United States-Mexico border on a 311-acre industrial park that developers hope will take advantage of the flood of imports and exports.

The Otay Crossings Commerce Park, in the works since 2007, is one of the largest industrial developments in San Diego County...


Tech entrepreneur snaps up the former Eddie Albert estate in Pacific Palisades

Sat, 24 Mar 2018 06:00:00 PDT

The buyer of actor Eddie Albert’s former estate in Pacific Palisades has come into focus.

Bobby Murphy, co-founder and chief technology officer of Snapchat parent company Snap Inc., paid the asking price of $19.5 million for the California hacienda, according to sources not authorized to comment...


Hot Property: Real estate reboot

Sat, 24 Mar 2018 00:05:00 PDT

Not every housing ambition works out as planned. This week’s collection includes an Oscar winner who has relisted his Hollywood Hills West compound as two separate properties and a writer-actor who decided against building his dream house in Malibu.

For a look inside a celebrity home, check out...


San Diego home prices up 8.6% in February

Wed, 21 Mar 2018 12:10:00 PDT

San Diego County home prices jumped 8.6 percent in February compared to a year ago, while sales remained tight as the region struggles with a shortage of homes for sale, real estate tracker CoreLogic said Wednesday.

The big picture: The median price in February — $535,000 — is down from its all-time...


Southern California home prices jumped 10% in February

Wed, 21 Mar 2018 10:45:00 PDT

Southern California home prices jumped 10.2% in February compared with a year earlier, while sales remained nearly flat as the region and the state grapple with a shortage of homes for sale.

The median price across the six-county region clocked in at $506,750 last month, real estate data firm CoreLogic...


$70M makeover of Town and Country hotel gets council OK

Tue, 20 Mar 2018 20:00:00 PDT

A $70 million makeover of the aging Town and Country resort in Mission Valley won approval Tuesday from the San Diego City Council after the developer reached agreements with organized labor to safeguard existing jobs and not stand in the way of unionizing hotel workers.

The 7-1 council vote, with...


San Diego becoming hot spot for real estate investing, report says

Fri, 16 Mar 2018 14:55:00 PDT

San Diego has become a more favorable place for real estate investing among big money players across North and South America, said a study released Friday.

The annual report from commercial real estate firm CBRE is a survey of multimillion-dollar investment groups — from insurance companies to...