October 21, 2003 |
The number of homes sold in Southern California stayed red-hot last month, surging 25% from a year earlier to their highest September level in 15 years, according to figures released Monday. Sales and prices did generally take their regular, seasonal dip in September from August, and the real estate industry is watching closely to see whether the market follows normal trends and cools further as the year-end approaches.
September 27, 2005 |
Federal Reserve Chairman Alan Greenspan on Monday warned home buyers to be wary of exotic mortgages that allow them to hold down monthly payments or defer principal payments in the early years. If the red-hot housing market cooled off, Greenspan said, "these borrowers, and the institutions that service them, could be exposed to significant losses."
January 17, 1995 |
Capping off a year of good news-bad news for the local housing market, sales of existing single-family houses and condominiums in the San Fernando Valley in 1994 rose to their highest level since 1989, but sale prices continued to plummet. A total of 12,451 residential properties were resold in the Valley last year, up 19% from 10,506 in 1993 and the most sold since 1989, when 17,310 houses and condominiums changed hands. Sales of single-family houses jumped to 10,860.
April 13, 2006 |
If this is a bubble, it's sure taking a long time to pop. For the first time, the median price of a Los Angeles County home topped the half-million-dollar mark last month, data released Wednesday showed. Four years ago, the median was half that. By doubling in such a short period, it's no wonder Los Angeles County appears on many lists of the nation's most-overvalued home markets. The increasing prices comfort recent home buyers such as Brian Kite.
CALIFORNIA | LOCAL
February 21, 2001 |
Marketing professor Terrance Gabel's resignation letter struck a nerve among university recruiters trying to lure out-of-state educators to balmy and pricey Southern California. "One of my dreams was to own a home," Gabel wrote to Cal State Northridge administrators. "I will never do that here. In Missouri, I'll own a home next year." Gabel, who left for Truman State University in Kirksville, Mo.
August 15, 2003 |
Rising interest rates have the real estate community fretting that the party is coming to an end, but the shindig sure was in full swing in Los Angeles County last month. The median price for homes sold in the county hit an all-time high of $328,000 in July, up 5% from June -- and up more than 23% from a year earlier -- according to figures released Thursday. The year-over-year increase was the strongest since May 1989, the peak of the region's last housing boom.
September 24, 1991 |
To see the dramatic changes in the Antelope Valley's new-house market over the past year, Frances Abele and her husband only have to look outside to survey their tract in Palmdale. A year ago, the plan was to fill the tract with big two-story houses like the one the Abeles had bought. But today, with only about one-fourth of the project built, their developer has suddenly decided to finish the tract with houses up to 50% smaller and less costly.
September 14, 1998 |
With Marin County home prices ever rising, the more than 400 houseboats moored near Sausalito have become popular for reasons that have nothing to do with atmosphere. Life on the water, exotic and romantic though it may be, has become a prosaic thing--an affordable housing alternative. Marin County's median home price is $375,000 and climbing, said John Karevoll of ACXIOM-DataQuick Information Systems. It's the hottest real estate market in the nation, he said.
December 13, 2010 |
The wood-frame Carousel grammar school survived the earthquake that destroyed much of this city in January. Beatrice Moise had taught there for five years and hoped she would continue when schools reopened in spring. But in February she found out that the director had rented the building out to the international relief group Oxfam. Buildings in the upscale suburb of Petionville, where foreigners like to live and work, were in high demand, and Oxfam paid $10,000 a month. The students, mostly from wealthy families, would probably have little problem finding other schools.
CALIFORNIA | LOCAL
November 27, 2011 |
For a clue to why California is losing its allure as a place to settle down, just ask Jennifer McCluer, who moved out of California in 2007 after she obtained her license in skin care. Unable to afford Orange County's sky-high rents, she opted for Portland, Ore. "A big motivator was that I lived with roommate after roommate after roommate," said McCluer, 30. "Friends said you could probably live on your own up here. The rent was a huge deal for me. " McCluer would like to move back, but it's still too expensive.