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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: Fri, 23 Jun 2017 03:11:42 -0700

Copyright: ©2017 Los Angeles Times

$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...


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...


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...


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...


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...


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....


San Diego company offers mortgage with 1% down

Tue, 13 Jun 2017 11:45:00 PDT

Many San Diegans would like to own a home in the region they work in, but they often struggle with the large down payment.

Buyers are typically expected to put 20 percent down on a new home, about $105,000 based on the county’s median home price.

Gearing up for a new generation of buyers, San Diego-based...


The Internet is mauling America's malls. Is your favorite retailer closing its doors?

Tue, 13 Jun 2017 03:00:00 PDT

Longtime Eagle Rock resident Allenby Arakielian remembers when the little mall on Colorado Boulevard was the neighborhood hot spot for shopping and dining.

Anchored by Montgomery Ward and May Co. stores when it opened in 1973, the 58-store Eagle Rock Plaza was so popular that old-timers complained...


Why a reverse mortgage might be a good idea for some older homeowners

Sun, 11 Jun 2017 03:00:00 PDT

Dear Liz: I recently retired to a small house I bought 30 years ago. I refinanced four times to get the rate down from 11% to 3.5%. This provided me with a low monthly mortgage (just under $450), but my current 30-year loan won't be paid off until I'm 92. I'll be 67 in two months, and just received...


Redfin tries out 1% home listing fee in San Diego

Thu, 8 Jun 2017 14:50:00 PDT

Real estate website and brokerage Redfin has launched a 1 percent listing fee in San Diego that could save home sellers hundreds of dollars in commission costs.

It’s not the first time the website has rolled out the feature — or the only city — but this is its first time in California. It previously...


House votes along party lines to repeal key Dodd-Frank financial reforms

Thu, 8 Jun 2017 14:25:00 PDT

The House voted along party lines Thursday to repeal many of the stricter regulations enacted after the 2008 financial crisis, taking the first step in a long-held Republican desire to roll back landmark rules they complain are hurting banks, restricting consumer credit and slowing economic growth.


Pacific Beach landlord to keep rent low, even after sale

Wed, 7 Jun 2017 05:00:00 PDT

It was in the 1970s when the congregation of Christ Lutheran Church began to shrink — and it wasn’t because of a lack of faith.

Rent prices were driving out the church’s oldest members who lived on fixed incomes. So, church leadership decided to build an apartment building for seniors that would...


Former CEO of OneWest Bank is Trump's pick for key financial regulatory post

Tue, 6 Jun 2017 15:30:00 PDT

President Trump on Tuesday nominated Joseph Otting, the former chief executive of Pasadena’s OneWest Bank and an ally of Treasury Secretary Steven Mnuchin, to a key financial regulatory position.

The move drew fire from consumer advocates and Democrats, who pointed out that Otting would be in a...


Angelina Jolie buys the Cecil B. DeMille estate in Los Feliz

Thu, 1 Jun 2017 18:10:00 PDT

Actress and humanitarian Angelina Jolie has closed sale on the Cecil B. DeMille estate, a Los Feliz mansion once owned by the early filmmaker, according to real estate sources not authorized to comment on the deal. The sale price was $24.5 million.

Found behind gates in the Laughlin Park area,...


Kushner tapped program meant for job-starved areas to build a luxury skyscraper

Thu, 1 Jun 2017 12:25:00 PDT

Jared Kushner and his real estate partners wanted to take advantage of a federal program in 2015 that would save them millions of dollars as they built an opulent, 50-story residential tower in Jersey City, N.J.'s booming waterfront district, just across the Hudson River from Lower Manhattan.



Appeals court deals setback to L.A. mortgage discrimination suits against big banks

Tue, 30 May 2017 18:30:00 PDT

Mortgage discrimination lawsuits filed by Los Angeles against Bank of America and Wells Fargo & Co. have hit a roadblock, with a federal appeals court saying the cases spurred by last decade’s housing bust lack merit.

Opinions in those two cases, released late last week by a three-judge panel of...


San Diego home prices outpaced nation, state in March

Tue, 30 May 2017 10:30:00 PDT

San Diego County’s home market showed signs of increased growth in March, outpacing price gains in other California cities and the nation, said the S&P CoreLogic Case-Shiller Indices released Tuesday.

The indices, adjusted for seasonal swings, showed San Diego County home prices rose 6.5 percent...


California Inc.: Finally getting her due, Wonder Woman comes to the big screen

Mon, 29 May 2017 05:00:00 PDT

Welcome to California Inc., the weekly newsletter of the L.A. Times Business Section.

I'm Business columnist David Lazarus, and here's a rundown of upcoming stories this week and the highlights of last week.

After the long holiday weekend, trading resumes Tuesday as investors place their first...


Neighborhood Spotlight: Westchester evolves into a techie utopia

Fri, 26 May 2017 06:30:00 PDT

Surrounded by bluffs, the ocean, the 405 Freeway and LAX, Westchester started out as a windswept plain in a remote corner of the Los Angeles basin.

Its evolution into the site of a vast planned community — and a center of the aviation industry — is in many ways the tale of one ambitious developer...


Could Wells Fargo's scandal boost mortgage discrimination lawsuits? L.A., other cities hope so

Thu, 25 May 2017 03:00:00 PDT

A recent Supreme Court decision that will allow mortgage discrimination cases against Wells Fargo and other banks to proceed is more than just another bad headline for the San Francisco financial giant.

As those cases progress, they represent yet another way that the bank’s practice of opening...


Home sales are happening on the shortest timeline ever recorded

Wed, 24 May 2017 09:15:00 PDT

Americans pulled back their pace of home-buying in April, as the shrinking number of houses for sale and rising prices are putting them in a bind as their options dwindle.

The National Assn. of Realtors said Wednesday that sales of existing homes declined 2.3% last month to a seasonally adjusted...


L.A. County median home price ties record high as housing market sizzles

Tue, 23 May 2017 17:15:00 PDT

The median home price in Los Angeles County has reached the all-time high set in 2007, a milestone that follows five years of steady recovery but comes amid renewed concerns over housing affordability.

Home prices rose nearly 6% in April from a year earlier, hitting the $550,000 level where the...


San Diego home price hits all-time high of $525K

Tue, 23 May 2017 10:25:00 PDT

The San Diego County median home price hit $525,000 in April, passing the region’s previous peak reached in 2005, real estate tracker CoreLogic reported Tuesday.

High demand and tight supply appear to have pushed the price beyond previous milestones. There were 3,618 homes sold in April — the lowest...


U.S. new home sales drop 11.4% in April, the most in two years

Tue, 23 May 2017 08:05:00 PDT

U.S. sales of new homes last month registered the biggest drop in more than two years.

The Commerce Department said Tuesday that new home sales skidded 11.4% in April to a seasonally adjusted annual rate of 569,000. It was the biggest monthly drop since March 2015. Economists had expected a more...


San Diego record: $10.1 million condo for sale

Thu, 18 May 2017 09:55:00 PDT

A newly built penthouse condo in La Jolla with panoramic views of the Pacific Ocean is on the market for a record $10.12 million.

The cost for the 3,255-square feet unit is likely the highest asking price for a condo in San Diego County history, said the Greater San Diego Association of Realtors.