Housings Sales

In their most upbeat forecast in years, economists at Chapman University painted a portrait Thursday of a consumer-friendly 1996 in which Orange County will record its first increase in housing prices in six years. The economic improvements expected in 1996 aren't big ones, cautioned James L. Doti, Chapman's president and the economist who began the school's widely followed annual economic forecast program 18 years ago.

Love may not be all around, but snow is certainly around the Minneapolis house used for exterior shots on "The Mary Tyler Moore Show," which is on the market at $2.895 million. The 9,500-square-foot home, built in 1900 and sitting on one-third acre, represented the exterior of the star's apartment in the classic 1970s sitcom. The Victorian features such period details as a turret, ornate millwork, bayed rooms and leaded-glass transom windows. There are two family rooms, a turret office, an exercise room, seven bedrooms, nine bathrooms and a three-car garage.

Evidence continues to accumulate that the Southern California real estate market is softening. Los Angeles County home prices for July continue to grow -- the median sales price is a record $520,000 -- but sales plummet 25% for an eighth straight month of declines. Prices in San Diego County depreciated for the second straight month, to $487,000 last month, 1.8% below the previous July. One factor putting pressure on prices: the growing backlog of homes on the market.

"Star Wars" actor Hayden Christensen has listed a house in Studio City for sale at $2.65 million. Built in 1990, the modern-style house features a step-down living room, high ceilings, three fireplaces, five bedrooms and five bathrooms in its 6,302 square feet of living space. An elevator leads to the third-floor master suite, which has a fireplace and dual walk-in closets. The three-quarter-acre lot includes a saltwater swimming pool with spa, flat yard space, mature trees and a three-car garage.

Ventura County's housing market made a strong comeback in March, with sales of single-family houses zooming 41.6% above February and 12.7% from March, 1992, according to the California Assn. of Realtors. The median price of houses whose escrows closed in March was $215,290--up 6.2% from the previous month but down 3.2% from March, 1992. The state association does not track counties' month-to-month condominium sales.

April sales of single-family houses in the San Fernando Valley rose 12% from March but remained 31% below the sales pace of a year earlier, the San Fernando Valley Board of Realtors said Monday. Relatively high prices and a record inventory of 12,501 houses and condominiums listed for sale put downward pressure on sales last month, the board said. Sales also have slowed contrasted with last year's because of the recent increase in mortgage interest rates.

Q. I would like to sell my house that I have been renting out for the last few years. My tenant, a very nice young man, died a few months ago from AIDS. I am wondering if I have any duty to tell a buyer about this. Does the law say I have to? GG, Orange A. The law requires an owner of real property to disclose to the buyer if an occupant has died on the property in the three years before the date of the offer to purchase, except if the occupant died of AIDS.

Actor Pierce Brosnan has sold his Malibu beach retreat for $2.6 million. Brosnan and his wife, environmental activist and former broadcast journalist Keely Shaye Smith, put the property on the market at $3.9 million in 2010 while building another house nearby. The gated Mediterranean they sold has separate space for use as an office or media room and sits on more than a quarter of an acre with lawn space and a courtyard fountain. The flower boxes and hydrangea-lined pathways are perhaps a nod to Brosnan's Irish roots.

Paced by growing demand at all price levels, Ventura County housing sales jumped a whopping 27% in April, according to figures released Thursday. But last month's sales leap, which comes after several months of strong sales and a 20% increase in March, is only the beginning, analysts say.

November has been a nerve-racking month for Wall Street, and investors are hoping this week's readings on economic growth, home sales and inflation don't meet their worst fears. The Dow Jones industrial average is on pace to post the biggest monthly loss since September 2002. Sentiment certainly has shifted since early October, when the overriding belief on Wall Street was that the credit crisis was largely over.

"House for Sale," a stage adaptation of Jonathan Franzen's essay, will make its off-Broadway debut Oct. 21 to Nov. 18 at the Duke on 42nd Street. In the piece, Franzen wrote about trying to sell his childhood home after his mother's death for a price she would find appropriate. Daniel Fish, who adapted the piece and will direct the show, said Franzen's essay will be presented on stage verbatim, although not entirely the way the National Book Award-winning novelist wrote it. The cast includes Rob Campbell, Christina Rouner, Lisa Joyce, Merritt Janson and Michael Rudko.

The whispering about town is that "Ghost Whisperer" star Jennifer Love Hewitt has listed a house in Toluca Lake for sale at $2.895 million and is trying to lease out another house she owns up the street. The traditional-style house for sale was built in 1952. It features a flexible floor plan, an office, six bedrooms, six bathrooms and 5,921 square feet of living space. The quarter-acre site includes a swimming pool and a patio with a built-in bar. Public records show the property was purchased in 1998 for $1.695 million.

Actor Pierce Brosnan has sold his Malibu beach retreat for $2.6 million. Brosnan and his wife, environmental activist and former broadcast journalist Keely Shaye Smith, put the property on the market at $3.9 million in 2010 while building another house nearby. The gated Mediterranean they sold has separate space for use as an office or media room and sits on more than a quarter of an acre with lawn space and a courtyard fountain. The flower boxes and hydrangea-lined pathways are perhaps a nod to Brosnan's Irish roots.

Actor Tony Danza has sold his longtime Malibu beach house for $8 million. It came on the market in July at $9.1 million. The 1949 traditional main house, with three bedrooms and two bathrooms, sits on 50 feet of beachfront. The entire second level of the home is a master suite including a sitting area, fireplace and deck. The property also has two detached guest suites for a total of about 3,000 square feet of living space. Danza, 60, won TV fans with his roles in the sitcoms "Taxi" (1978-83)

Actor Ethan Suplee has listed a Studio City house for sale at $2,295,000. Formerly Jane Fonda's residence, according to listing details, the country English-style home of 3,787 square feet was built in the early 1950s. It sits on nearly an acre of wooded grounds with a detached office/guesthouse, a gym and a swimming pool. There are three fireplaces, seven bedrooms and three bathrooms. Suplee, 35, appeared in the action-adventure film "Unstoppable" (2010) and starred in "My Name Is Earl" (2005-09)

Actress-producer Jodie Foster has listed her Beverly Hills estate for sale at $9,975,000, the Multiple Listing Service shows. Climbing vines and red brick accents give the seven-bedroom, eight-bathroom compound an East Coast vibe. Encompassing nearly an acre of land, the compound includes a 1949 main house, a tennis court, a swimming pool and a guesthouse. Foster, 48, won her Oscars for roles in "The Accused" (1988) and "The Silence of the Lambs" (1991). She stars in and directs "The Beaver," released Friday, and will star in the upcoming "God of Carnage.

Wet weather and rising interest rates slowed the Simi Valley housing market in February, a report released Friday showed. The 80 residences that closed escrow last month represented a 22% drop from the previous February, when 103 housing units were sold in the Simi Valley area, the Simi Valley-Moorpark Assn. reported. "Realtors would have sold more homes . . .

Foreclosure activity fell by a record amount in November as U.S. lenders put the brakes on repossessions after the uproar over faulty foreclosure practices this fall. But experts said the lull was probably only temporary, and home prices could take a hit early next year as banks begin foreclosing again at a faster clip. With a moribund market for new homes, constricted lending by big banks and the poor economy dampening prospects for buyers, the housing market in Southern California also weakened last month, according to data released Wednesday.

November has been a nerve-racking month for Wall Street, and investors are hoping this week's readings on economic growth, home sales and inflation don't meet their worst fears. The Dow Jones industrial average is on pace to post the biggest monthly loss since September 2002. Sentiment certainly has shifted since early October, when the overriding belief on Wall Street was that the credit crisis was largely over.