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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: Sat, 23 Sep 2017 09:34:37 -0700

Copyright: ©2017 Los Angeles Times

Here's why closing the sale of a condo has suddenly become harder for an association

Sat, 23 Sep 2017 06:00:00 PDT

Question: I’ve been the treasurer of our 30-unit self-managed condominium association for more than 20 years and until recently the handling of buyer and refinance escrows and other paperwork for property transactions was a breeze.

This year, though, mortgage lenders started asking for a fidelity...


Cindy Crawford adds a stylish Beverly Hills flip to her home wardrobe

Sat, 23 Sep 2017 06:00:00 PDT

Cindy Crawford has gone shopping on the Westside.

The supermodel and her husband, businessman Rande Gerber, have bought a Beverly Hills home from OneRepublic frontman Ryan Tedder and his wife, Genevieve, for $11.625 million.

Tedder and his wife worked with Alvarez Morris Architectural Studio to...


Design rentals around party spaces, says architect-developer

Sat, 23 Sep 2017 05:30:00 PDT

To attract young renters to his projects, architect-developer Mike Burnett believes in designing around parties.

“Always design for the party — this is very important in a site plan,” Burnett, 40, told San Diego apartment owners and managers last week. “How are you going to get drunk?”

He was being...


KFI Radio’s Tim Conway Jr. records a quick hit in the Burbank housing market

Thu, 21 Sep 2017 14:05:00 PDT

The hits just keep on comin’. Comedian and talk radio host Tim Conway Jr. listed his Burbank home for $839,000 and in less than a week had multiple offers in hand.

Last year the KFI radio personality sold another home in Tarzana for over the asking price in just under a month.

The house he’s currently...


Neighborhood Spotlight: Cheviot Hills, already pricey, continues on a steep incline

Thu, 21 Sep 2017 06:30:00 PDT

The groundwork for the upscale Westside neighborhood of Cheviot Hills was laid in 1923 when a single subdivision began sales of lots on a previously undeveloped patch of rolling hills 10 miles west of downtown Los Angeles.

It was prime real estate. In a newspaper advertisement for that first tract,...


What $900,000 buys right now in three Orange County communities

Thu, 21 Sep 2017 06:00:00 PDT

Here’s what about $900,000 buys in the Costa Mesa, Irvine and San Juan Capistrano housing markets.

COSTA MESA: Sitting on a corner lot, this renovated three-bedroom features such updates as a Dutch front door, skylights and custom cabinetry in the kitchen.

Address: 157 E. Wilson St., Costa Mesa,...


In L.A.’s Broadway Theater District, Chinese developer builds condos priced for first-time buyers

Thu, 21 Sep 2017 05:00:00 PDT

Beckoned by the lingering allure of Old Hollywood, a Chinese developer is building a $300-million condominium skyscraper on a long-moribund corner in the historic Broadway Theater District.

The intersection, at Broadway and 4th Street, is part of a six-block stretch of downtown that is home to...


Redondo Beach halts mixed-use developments after residents raise concerns about traffic

Wed, 20 Sep 2017 16:15:00 PDT

The Redondo Beach City Council has placed a nearly one-year moratorium on mixed-use development, a move that comes amid a statewide housing shortage driving up rents and home prices.

The 10½-month ban, which passed unanimously Tuesday evening, puts a brake on projects that combine retail and office...


Stocks wobble after Federal Reserve news but close mostly higher

Wed, 20 Sep 2017 14:55:00 PDT

U.S. stock indexes overcame a wobble to close mostly higher Wednesday after the Federal Reserve said it would start reducing its huge bond portfolio next month and was still on track to raise interest rates later this year.

The central bank's announcement drove bond yields higher, lifting shares...


San Diego's new median home price: $535K

Tue, 19 Sep 2017 13:40:00 PDT

The San Diego County median home price decreased for the second month in a row in August to $535,000, real estate tracker CoreLogic reported Tuesday.

Despite the break in rising prices, most experts caution that tight supply — fewer homes are for sale in 2017 compared to last year — should continue...


Southern California home prices jump again. Lots of residents worry about affordability

Tue, 19 Sep 2017 11:45:00 PDT

The Southern California real estate market continued to sizzle in August as home prices jumped 7.5% from a year earlier, reinforcing new poll results showing widespread concern about the state’s housing affordability.

Across the six-county region, the median price increased to $500,000 from $465,000...


What $500,000 buys right now in three Riverside County communities

Fri, 15 Sep 2017 06:00:00 PDT

Here’s what half a million dollars buys in the Bermuda Dunes, Corona and Murrieta housing markets.

BERMUDA DUNES: Views of two fairways are on full display at this Spanish-vibe house on a lot of more than a quarter of an acre.

Address: 79260 Fred Waring Drive, Bermuda Dunes, 92203

Listed for: $496,000...


Reverse mortgages have gotten safer and cheaper but aren't for everyone

Sun, 10 Sep 2017 03:00:00 PDT

Dear Liz: I have been making interest-only payments on a home equity line of credit but starting in January the payments will increase to include principle. I would like to do a cash-out refinance of my first mortgage (I owe about $190,000) to pay off the HELOC (on which I owe $140,000).

My home...


'Pirates of the Caribbean' star Johnny Depp continues his real estate purge

Sat, 9 Sep 2017 06:00:00 PDT

Another day, another real estate move for Johnny Depp.

The box-office star, who in summer reprised his role as Captain Jack Sparrow in “Pirates of the Caribbean: Dead Men Tell No Tales,” has divested himself of his fourth penthouse at the Eastern Columbia Building and is readying another property...


Hot Property: Fanning out across the nation

Sat, 9 Sep 2017 00:05:00 PDT

Even though Hollywood makes L.A. and environs a celebrity magnet, not all the big real estate action plays out within the City of Angels. This week’s selection includes California deals of note in the O.C. and San Jose.

Elsewhere, there’s a horse farm owned by a box-office draw that’s up for auction...


A new generation of young home buyers is tiptoeing into the market

Fri, 8 Sep 2017 12:20:00 PDT

Newly married and in their mid-20s, San Clemente residents Josh and Kayleigh Hyink were ready for the next step in their “master plan.”

So the couple ditched their $1,644 one-bedroom apartment in Orange County and this spring purchased a new $430,000 house in the Riverside County city of Murrieta,...


Scott Disick opens up his Hidden Hills bachelor pad for lease

Thu, 7 Sep 2017 13:50:00 PDT

Scott Disick is bound and determined to cycle someone new into his Hidden Hills bachelor pad.

After buying the two-story Cape Cod-style home for $6 million in January 2016, he quickly put it back on the market six months later. No fish were biting with the home priced at $7.88 million, so the longtime...


At $41 million, off-market home sale is Santa Monica's priciest ever

Thu, 7 Sep 2017 06:30:00 PDT

An off-market deal in Santa Monica not only topped the charts for L.A. County in the month of August but also set a price record for the Westside city.

$41,082,000 — Santa Monica

In a deal completed outside the Multiple Listing Service, a residence bordering the Riviera Country Club changed hands...


DiamondView office tower sells for $207M

Tue, 5 Sep 2017 18:30:00 PDT

DiamondView East Village, the 15-story office tower adjacent to Petco Park, has been sold for $207 million in what may be a record price per square foot in the county.

Dennis Cruzan, whose company Cruzan bought the 305,255-square-foot building with CIGNA for $121 million in 2012, said the buyer...


Zero down payment option available for San Diego

Tue, 5 Sep 2017 06:00:00 PDT

A mortgage that is as close to zero out of pocket as one can get is available in San Diego County from a Utah-based Native American tribal corporation.

Aimed at low-income buyers, the Chenoa Fund has looser requirements than many down payment assistance programs, even as one of the nation’s largest...


L.A. Chargers exec lands the Newport Beach home of a 'Real Housewives' star

Mon, 4 Sep 2017 10:45:00 PDT

Tom Telesco, general manager of the Los Angeles Chargers, was the buyer of the Newport Beach home recently sold by baseball player-turned-television analyst Jim Edmonds and his wife, “Real Housewives of Orange County” personality Meghan King Edmonds, public records show. The sales price was $2.998...


Two downtown highrises sell for $167M. Declining vacancies equal rising prices.

Fri, 1 Sep 2017 13:40:00 PDT

Two neighboring downtown high-rises — at one time bank headquarters — have been sold for a combined $167.2 million.

Together, the two transactions present a 63.6 percent increase in value over the two prior sales, a reflection of the tightening downtown office market.

The 530 B Street building...


When it comes to extravagant housing, traditional mortgage rules don't apply

Fri, 1 Sep 2017 06:30:00 PDT

Paying for an average home is a rough process — a hefty down payment can wipe out savings, the paperwork feels endless and the mortgage often lasts decades.

In the upper echelons of the Southland residential real estate market, financing isn’t much easier — it just involves more eager-to-please...


Neighborhood Spotlight: Glassell Park's future looks greener and livelier

Fri, 1 Sep 2017 06:00:00 PDT

The massive, 36,000-acre Rancho San Rafael — a gift from the Spanish governor of California to Jose Maria Verdugo in 1784 — can fairly be called the mother of Northeast Los Angeles.

The neighborhoods that were carved from the hilly, scenic expanse of land to the east of the L.A. River include Atwater...


What you need to know about San Diego's homebuilding slump

Wed, 30 Aug 2017 14:35:00 PDT

New home construction in San Diego County has picked up slightly but is still substantially down from the same time last year.

Building permits for all types of homes — condos, apartments and single-family homes — were down by 3 percent in the second quarter of 2017 compared to the second quarter...