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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: Sun, 22 Jan 2017 16:17:53 -0800

Copyright: ©2017 Los Angeles Times
 



The vanishing San Diego single-family home

Sun, 22 Jan 2017 07:00:00 PST

Many people still dream of buying a house that includes a few bedrooms, a yard to play in and a porch to watch the comings and goings of the neighborhood. 

Yet making that dream a reality is becoming increasingly more difficult in San Diego County.

Local planners and communities have largely cut...

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Properties linked to Malaysian money scandal sell in Beverly Hills

Sat, 21 Jan 2017 07:00:00 PST

A trio of home sales of $26.5 million or more in the Beverly Hills area capped off a year in which Los Angeles County saw sales volume of $19.8 billion, up 7% from the previous year, according to the Multiple Listing Service.

Among the hefty transactions recorded in the last two weeks of December...

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HUD suspends FHA mortgage insurance rate cut an hour after Trump takes office

Fri, 20 Jan 2017 16:30:00 PST

An hour after Donald Trump assumed the presidency Friday, his administration indefinitely suspended a pending rate cut for mortgage insurance required for FHA-backed loans, which are popular with first-time home buyers and those with poor credit.

The move by the Department of Housing and Urban...

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L.A. office market has best quarter since the financial crisis as entertainment and tech firms keep expanding

Fri, 20 Jan 2017 03:00:00 PST

To get a sense for how well the Los Angeles office market is doing, there probably isn’t a better barometer than Jerry Snyder.

The veteran developer has been in the industry since 1949 and built thousands of houses and apartments, along with shopping centers and offices, when he thinks the market...

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What $500,000 buys in three San Diego County communities

Thu, 19 Jan 2017 06:00:00 PST

Unlike other parts of the country, a half-million-dollar home is a common occurrence in the San Diego County real estate market, where the median sale price in November was $545,000, according to CoreLogic.

Here’s a look at what about $500,000 buys in three San Diego-area communities.

LAKESIDE:...

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Steven Mnuchin's OneWest favored private equity firms, did little small-business lending

Thu, 19 Jan 2017 03:00:00 PST

In 2009, Steven Mnuchin and a handful of other wealthy investors bought the assets of IndyMac, a failed Pasadena savings and loan, and renamed it OneWest Bank.

By the time they sold the institution six years later, it was unrecognizable, a wholly different kind of bank from the insolvent mortgage...

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The U.S.' priciest house for sale is a Bel-Air mansion that includes 7 staffers and a helicopter

Wed, 18 Jan 2017 15:20:00 PST

Los Angeles has just reached new heights in over-the-top real estate opulence.

The city now boasts the most expensive home for sale in the country: a newly built Bel-Air mega-mansion listed Wednesday at a quarter billion dollars.

It has all the hallmarks of a Big Deal house: 38,000 square feet...

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Inglewood real estate market expected to score as Chargers join Rams at new stadium

Wed, 18 Jan 2017 03:00:00 PST

The Chargers’ decision to join the Rams at a splashy new stadium in Inglewood has at least one builder even more pumped up about the city’s prospects.

The promise of pro football in Inglewood, still three years away, has already given a lift to real estate developer Sandy Sigal, who is spending...

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Snapchat has changed Venice, and the neighborhood isn't changing back

Tue, 17 Jan 2017 11:35:00 PST

Don Salmon says his Rastafarian clothing shop in Venice suffered no dip from the Great Recession, leaving only one culprit in his mind for a recent sales plunge.

“I have no question this is the Snapchat effect,” Salmon said surrounded by his black-red-yellow-and-green goods. “It’s not even up for...

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The Rey, San Diego's biggest apartment complex in years, opens. But, is the market there?

Tue, 17 Jan 2017 07:00:00 PST

Towering over a part of San Diego known more for offices than apartments, The Rey is one of downtown’s biggest apartment complexes in years. 

Coming in at 22 stories with 478 apartments, the development from Santa Ana-based Wood Partners and Boston-based Berkshire Group will balloon to more than...

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Moody's reaches $864-million settlement over bond ratings leading up to financial crisis

Fri, 13 Jan 2017 18:25:00 PST

Moody's Corp. has agreed to pay nearly $864 million to settle federal and state claims it gave inflated ratings to risky mortgage investments in the years leading up to the financial crisis.

The deal announced Friday was struck among the New York-based rating firm, the Justice Department and the...

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Sommerset Suites Hotel in Hillcrest to become apartments

Fri, 13 Jan 2017 17:05:00 PST

A Hillcrest hotel purchased for $19.5 million will be turned into luxury apartments. 

The 80-room Sommerset Suites Hotel at 606 Washington St. was originally built as an apartment complex in 1986 but had been a hotel for 20 years. 

SENTRE, a San Diego-based real estate investment firm, said it...

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Neighborhood Spotlight: East Los Angeles a physical homeland and cultural touchstone

Fri, 13 Jan 2017 06:00:00 PST

East Los Angeles is both a place and a mode of being, a physical homeland and the spiritual heart of the Mexican diaspora in the United States.

The cultural and political effects that this vibrant neighborhood have had, across the country and around the world, are hard to overstate. It’s impossible...

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New homeowners will get savings under Fed change

Mon, 9 Jan 2017 14:25:00 PST

Future homeowners in pricey Southern California got welcome news Monday after weeks of  rising mortgage rates.

The Federal Housing Administration announced Monday it will reduce the annual insurance premiums most borrowers will by pay by a quarter of a percent, saving the average homeowner $500...

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Rob Kardashian lists his crib in Calabasas for $2.675 million

Fri, 6 Jan 2017 07:30:00 PST

The Calabasas home of Rob Kardashian of “Keeping Up With the Kardashians” fame has come on the market at $2.675 million.

Kardashian, through a blind trust that holds other real estate for the Kardashian-Jenner family, bought the home in a gated community last year for $2.285 million, property records...

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Top real estate sales of 2016: L.A.'s record year included two $100-million sales

Fri, 6 Jan 2017 06:00:00 PST

Storied estates and speculative development in Los Angeles County’s toniest neighborhoods pushed the high-end market to new heights in 2016.

Of the dozen single-family home sales of $30 million or more, two changed hands at $100 million — a record-setting mark once thought of as unattainable.

Here’s...

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This company will help with a down payment, but it wants a stake in your new home

Fri, 6 Jan 2017 03:00:00 PST

When Ricardo and Catherine Soto were looking to buy a home in Chula Vista, they knew that even after selling their old house in El Cajon they would be able to afford a down payment of only about 10%.

But when buying a home, 20% is the magic number. It means not only borrowing less but also avoiding...

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Escondido shopping center purchased for $40.1M

Wed, 4 Jan 2017 12:05:00 PST

A commercial real estate giant from New York City recently purchased a 7-acre Escondido shopping center for $40.1 million that includes Trader Joe’s, Starbucks and Major Market. 

Brixmor Property Group’s purchase of the Felicita Town Centre includes 137,408-square-feet of retail space and 4,027-square-feet...

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Obama's foreclosure prevention program has helped far fewer homeowners than expected

Fri, 30 Dec 2016 14:55:00 PST

When the Obama administration announced a massive effort to help distressed homeowners in 2009, it set high expectations. The program, government officials said, would keep up to 4 million borrowers out of foreclosure.

"It will give millions of families resigned to financial ruin a chance to rebuild,"...

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Neighborhood Spotlight: Bel-Air's Old Hollywood character gets a nip and tuck

Fri, 30 Dec 2016 06:45:00 PST

Famed serial monogamist and fashion plate Zsa Zsa Gabor, who recently died at 99 in her Bel-Air mansion, typified in many ways the demographic profile of residents of this most platinum of L.A.’s Platinum Triangle neighborhoods: whiter, older and richer than the rest of the city lying outside of...

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Stocks slide broadly in a day of light trading

Wed, 28 Dec 2016 14:10:00 PST

Banks led a broad slide in U.S. stocks Wednesday that more than wiped out gains from the day before. 

After an early upward turn, the stock market veered into the red, with the losses accelerating as the day wore on. Basic materials companies, industrials, utilities and energy stocks were among...

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Stocks' rise lifts Nasdaq to new record high; Dow nears 20,000

Tue, 27 Dec 2016 16:05:00 PST

A day of quiet trading on Wall Street ended Tuesday with the Dow Jones industrial average inching closer to 20,000 and a record high for the Nasdaq composite.

Materials and technology companies led U.S. stocks slightly higher overall. Energy companies rose as the price of crude oil moved higher....

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Home prices drop back 2.5% in November

Tue, 27 Dec 2016 12:55:00 PST

After reaching $507,500 in October, the median home price in San Diego retreated 2.5 percent in November to land at $495,000, the same level as in September, CoreLogic reported Tuesday. Still, the median last month was 5.6 percent higher than it was a year ago.

Unit sales were down as usual from...

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Southern California home prices keep rising, and sales jump

Tue, 27 Dec 2016 11:55:00 PST

Southern California home prices and sales rose in November compared with a year earlier, according to a report released Tuesday.

The six-county region’s median price reached $465,000 last month, up 5.9% from November 2015, real estate data firm CoreLogic said. Sales soared 24.1%.

The strong sales...

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Ducks captain Ryan Getzlaf sells his home in Corona del Mar for $6.025 million

Tue, 27 Dec 2016 07:10:00 PST

Anaheim Ducks captain Ryan Getzlaf has wrapped up some business away from the ice, selling his home in Corona del Mar for $6.025 million.

The multilevel home in the Cameo Shores community came up for sale in May for about $7.2 million and was more recently priced at about $6.5 million, property...

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