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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: Mon, 24 Jul 2017 08:27:15 -0700

Copyright: ©2017 Los Angeles Times
 



San Diego's housing crisis, a family problem

Fri, 21 Jul 2017 15:10:00 PDT

The more I learn about our complex society, the more our problems boil down to a basic failing: We don’t love our children enough.

No, this column isn’t about cancerous public liabilities, which diminish the future wealth of our kids in large measure to finance comfy lives and cheap health care...

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Mortgage broker rolls out another online way to assess what your house is worth

Thu, 20 Jul 2017 17:35:00 PDT

Do we really need another Zillow Zestimate-style online gizmo to tell us what a computer model says our homes are worth? Probably not.

There already are scads of real estate and mortgage websites that offer some type of automated home valuation feature, such as Redfin, Realtor.com, Chase Mortgage,...

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Economy is finally back, but where's the joy?

Sun, 16 Jul 2017 06:00:00 PDT

They call economics the “dismal science,” and a recent midyear forecast provides a good example.

“We’re experiencing an economy that remains in expansion mode but that has some fairly serious workforce and housing imbalances which are a drag on California’s long term economic growth and health,”...

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Jared Leto gets his price and more for Cahuenga Pass pad

Sat, 15 Jul 2017 06:00:00 PDT

The sale of Jared Leto’s Cahuenga Pass home has ended on a high note. The Oscar-winning actor and musician last month sold the property for $2.05 million, or $51,000 over the asking price.

Built in 1955, the midcentury spread was previously owned by producer-director Michael McQuarn. Jimmy Durante,...

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Singer Tom Jones sells L.A.-area home and parcel next door for $11.3 million

Fri, 14 Jul 2017 11:05:00 PDT

The Tom Jones home sale tour has officially come to an end.

The singer-entertainer last month sold his Mediterranean-style villa and an adjacent lot in guard-gated Mulholland Estates for a combined $11.28 million, according to records obtained by The Times.

Built in 1996, the five-bedroom, seven-bathroom...

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Redfin tries out 1% home listing fee for the first time in California

Fri, 14 Jul 2017 06:30:00 PDT

Real estate website and brokerage Redfin has launched a 1% listing fee for the first time in California, which could save home sellers hundreds of dollars in commission costs.

The reduced listing fee rolled out in San Diego in the spring. Redin has tested a 1% listing fee in other places, including...

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Prop. 13 property tax reform could boost housing affordability, experts say

Thu, 13 Jul 2017 15:50:00 PDT

With housing inventories at a historic low, real estate leaders are proposing to amend Proposition 13 to give homeowners a tax break when they sell and thus generate more supply and reduce pressure on prices.

The change would apply to the 1978 tax-reduction measure and appear on the November 2018...

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New gated enclave to rise in Malibu after $50-million land deal

Thu, 13 Jul 2017 06:30:00 PDT

The sale of a storied Los Feliz estate and a $50-million exchange in sunny Malibu were among L.A. County’s priciest real estate transactions in June.

$50 million — Malibu

The Crummer Estate, an undeveloped, 24-acre property on Pacific Coast Highway, sold in Malibu’s third priciest deal of the year...

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Figuring out capital gains when an inherited house is sold. Spoiler: They're probably small

Sun, 9 Jul 2017 03:00:00 PDT

Dear Liz: I’ve have been following your responses related to the tax exemption on home sales. I understand that up to $250,000 per person of home sale profit is exempt from capital gains taxes and that married couples are entitled to exempt up to $500,000.

My spouse and her two siblings inherited...

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Hot Property: Right on schedule

Sat, 8 Jul 2017 00:05:00 PDT

The traditionally hot summer months for housing market activity are living up to their reputation already. Homes in all price ranges are selling quickly, drawing multiple bidders and sometimes going for above their asking prices. This week we look at actors, athletes and others of note who have...

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How to ditch vibe-crushers that could give potential buyers the creeps

Thu, 6 Jul 2017 06:30:00 PDT

Whether it’s an off-putting odor, kitschy decor or questionable artwork, a good real estate agent knows how to disappear such sale-killers for potential buyers without offending the home seller.

If professional staging isn’t an option, real estate agents are left to tell clients, delicately, how...

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What $700,000 buys right now in Encino, Tarzana and Woodland Hills

Thu, 6 Jul 2017 06:00:00 PDT

Here’s a look at what about $700,000 buys in three San Fernando Valley housing markets.

ENCINO: This three-bedroom home, built in 1949 and since updated, features hardwood floors, a step-down family room and a kitchen that opens to the backyard.

Address: 5930 Jellico Ave., Encino, 91316

Listed...

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Hot Property: Bringing the heat to the real estate beat

Sat, 1 Jul 2017 07:00:00 PDT

The spring homebuying season may be well in the rearview mirror, but things are heating up in Los Angeles’ hotbed of luxury real estate. In recent days, we saw one box office star score an above-asking sale and a member of sitcom royalty offer up his perch in the Bird Streets.

Once you’re done...

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Two Democrats call for scrutiny of possible conflicts of interest in Trump team's OneWest Bank inquiries

Fri, 30 Jun 2017 14:45:00 PDT

Two House Democrats want Congress to look into possible conflicts of interest in the Trump administration’s handling of investigations into Pasadena’s OneWest Bank — a bank formerly headed by now-Treasury Secretary Steven T. Mnuchin.

Reps. Maxine Waters (D-Los Angeles) and Al Green (D-Texas) said...

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Neighborhood Spotlight: Woodland Hills is a power-shopper's mecca with outdoor delights

Fri, 30 Jun 2017 06:30:00 PDT

The development of the San Fernando Valley features more than its share of shady real estate speculators, above-the-law syndicates of the rich and powerful, and outright con men. But few of those rogues possessed the duplicity of the founder of the small hillside settlement that would eventually...

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What $1 million buys right now in three O.C. communities

Thu, 29 Jun 2017 06:00:00 PDT

Here’s a look at what about $1 million buys in the Costa Mesa, Huntington Beach and Laguna Beach housing markets.

COSTA MESA: This single-story, sitting on roughly a quarter of an acre, features an updated kitchen and bathrooms, fresh paint and new carpeting.

Address: 1862 Elba Circle, Costa Mesa,...

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Brand-new Sunset Strip apartments to become deluxe extended-stay hotel

Wed, 28 Jun 2017 14:40:00 PDT

A just-completed apartment complex on the Sunset Strip in West Hollywood has been sold to a Pennsylvania developer that plans to convert the property into a luxury extended-stay hotel.

The 190 apartments at 8500 Sunset Blvd. are part of a more than $300-million development covering two blocks on...

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San Diego home prices in April continued to outpace nation, state

Tue, 27 Jun 2017 11:45:00 PDT

San Diego County home prices in April continued to outpace the rest of the state and nation for the third month in a row, said the S&P CoreLogic Case-Shiller Indices released Tuesday.

The indices, adjusted for seasonal swings, showed San Diego County home prices rose 6.6 percent in a year. Prices...

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Traditional home tours are becoming obsolete. Real estate agents are using movies to sell mansions

Fri, 23 Jun 2017 06:30:00 PDT

A woman in a red dress twirls with a dark and mysterious man through light-filled hallways. Music flutters and surges in a romantically lit courtyard overlooking the twinkling city. A mischievous coda plays, and then the credits roll.

It’s a classic scene plucked straight from Hollywood. But this...

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$530,000: San Diego County home price hits new record

Wed, 21 Jun 2017 15:20:00 PDT

The San Diego County median home price hit $530,000 in May, breaking the nominal record set last month and increasing 8.2 percent in a year, real estate tracker CoreLogic reported Wednesday.

Lack of homes for sale and slowed home construction appear to be major forces in new peaks set over the...

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L.A. County median home price breaks record set during last decade's housing boom

Wed, 21 Jun 2017 11:25:00 PDT

In summer 2007, the Los Angeles County median home price hit an all-time high of $550,000. It soon plunged as the housing bubble burst and the national economy crashed.

Now the median, the point where half the homes sold for more and half for less, has finally passed the heights of 10 years ago...

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Hot Property: The housing market is alive and well

Sat, 17 Jun 2017 00:05:00 PDT

Classic comic actor Groucho Marx may be long gone, but his Hollywood Hills West estate is still around and appears to be a hot item. After only six months, the property is back up for sale at a mark-up north of 20%. Can you say: property flip?

It’s just one indication of how buoyant home sales...

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HOA Homefront: Can board deny privileges if homeowners aren't paying?

Sat, 17 Jun 2017 00:00:00 PDT

Q:Our homeowners association reserves are extremely low and our collections are growing worse by the day. We are a gated community, with many renters. Can we deny access to the automatic transponder gate to delinquent owners/renters and require that they wait at the guarded gate for entrance? Can...

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Borrowers say 'stealth' mortgage modifications by Wells Fargo could cost them their homes

Thu, 15 Jun 2017 16:05:00 PDT

Wells Fargo is facing allegations of a new scandal, this time involving its treatment of mortgage borrowers in bankruptcy.

Some of the borrowers allege that the bank attempted to quietly modify their mortgages so that their monthly payments would be lower — but the length of the loans would be...

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Record-setting deals in Manhattan Beach and Malibu headline L.A.'s top sales in May

Thu, 15 Jun 2017 06:30:00 PDT

In the month of May, the most expensive homes sold in Los Angeles County included record-setting deals on the Westside and South Bay. Here’s a larger look:

$85 million — Malibu

Music and movie mogul David Geffen sold his oceanfront compound on Pacific Coast Highway for an area-record $85 million....

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