Property Sales

Seemingly poised for battle, five Soviet-designed MIG-15 fighter jets sit in a hangar at Chino Airport. The red star of the Korean War-era Soviet Volunteer Corps is emblazoned on the tail, wings and fuselage. Goessling starts his capitalistic sales pitch. They are clean, sleek and scramble through the air near the speed of sound, Goessling says. In "mint condition," these jets can be had for a mere $150,000 each, or best offer. But there is a hitch.

Among all the special places inside his sprawling 10,700-square-foot mountaintop home, Daniel Coletti savors the vibe inside the living room most. It's a luxury dreamscape distinguished by mammoth walls of glass and Idaho-hewn stone. At night, he gazes out past the blue waters of an indoor-outdoor infinity pool and onto a vast citywide vista capped by the shimmering lights of the Strip. "It's like looking at a fire," his wife, Natalie, said. "You can't turn your eyes from it. " The property has another unique feature: Offered at $13.9 million, it's the most expensive residential listing in Las Vegas.

TIME stands still at Oakridge. The stone house on the Northridge hilltop is locked. Through its darkened windows can be glimpsed empty rooms that for nearly a half-century echoed with the laughter of comic actor Jack Oakie and a nonstop flow of Hollywood buddies. Its curving driveway, circling an ancient oak, is cracked. The back lawn, where Oakie and his celebrity friends lazed away summer days by the pool, is overgrown and brown.

CBRE Group Inc., the world's largest commercial real estate brokerage, turned a profit in the first quarter as U.S. property sales took off. The Los Angeles firm said Tuesday that income from arranging transactions to buy or rent space in offices, warehouses and other commercial properties helped revenue increase 14% from a year earlier to $1.35 billion. Growth was driven primarily by activity in the United States as leasing transactions fell off in Europe and sales slid in Asian markets.

Looking for a clean, late-model, one-owner used car? Don't mind a little mileage on it? OK, how about a lot of mileage on it--say, up to 120,000 miles or so on a car that's only a couple of years old? If you're still game, then California Highway Patrol Used Car Sales in Torrance may be just the place to look. There, $8,000 or less--a lot less in some cases--will buy you a 1- to 3-year-old Ford Mustang or Crown Victoria that until recently was chasing down speeders on the freeways.

Unocal Corp. said Tuesday that it is negotiating to sell its California oil and natural gas assets, a divestment that would sever 103-year-old ties to oil fields that helped make it one of the world's largest oil companies. Los Angeles-based Unocal said three outside companies have made offers for the California exploration and production assets, which include 69 oil and gas fields. Unocal said it is considering selling the assets in order to concentrate on larger overseas opportunities.

There are homes. And then there is Candy Land -- all 56,500 square feet of it. Candy Spelling, widow of legendary TV producer Aaron Spelling, has put her 4.7-acre residence in Holmby Hills up for sale. Priced at $150 million, it's currently the most expensive residential listing in the U.S. Whether Spelling will have to take a haircut on that asking price in today's market remains to be seen. If so, she'll be prepared: The home has its own barbershop. Plus a whole lot more.

CBRE Group Inc., the world's largest commercial real estate brokerage, reported a strong third quarter propelled by robust growth in property sales and leasing in the U.S. and abroad. The Los Angeles firm, formerly CB Richard Ellis Group Inc., said Thursday that income from arranging transactions to buy or rent space in offices, warehouses and other commercial properties grew at a double-digit pace from the same period last year. Sales were particularly strong in the Americas; Asia and Europe recorded big increases in leases.

Catellus Development Corp., one of California's largest landowners and builders, said Wednesday that third-quarter profit fell 49% from a year earlier as property sales decreased. San Francisco-based Catellus made $14.7 million, or 16 cents a share, compared with $28.6 million, or 28 cents, a year earlier. The profit decline was expected because the company intentionally accelerated sales during the first half of the year.

Orange County home shoppers who have toyed with the idea of bargain hunting at one of the area's growing number of real estate auctions can have a field day--or two or three--this month. A total of 128 homes in Ventura, Los Angeles, Orange, Riverside and San Bernardino counties--including several duplexes and four-plexes--will be offered in a series of sales during the next two weekends by auctioneers for the federal Resolution Trust Corp. and the private Real Estate Disposition Corp.

Real estate services provider CBRE Group Inc. reported a robust fourth quarter as property sales increased and the company expanded its asset management business. The Los Angeles firm formerly known as CB Richard Ellis Group Inc. earns commissions from arranging transactions to buy or rent space in offices, warehouses and other commercial properties. Property sales revenue rose 10% compared with the fourth quarter of 2010, powered by a growing number of deals in the United States and Asia, while sales in Europe remained flat, the company said Tuesday.

MPG Office Trust, the largest office landlord in downtown Los Angeles, reported a third-quarter profit propelled by property sales and debt forgiveness. The Los Angeles real estate investment trust, which also owns several buildings in Orange and San Diego counties, finished the quarter that ended Sept. 30 with earnings of $25.6 million, or 51 cents a share. In the same period a year earlier, MPG lost $17.9 million, or 36 cents a share. Revenue was $84 million, down 3%. "Fundamentals in downtown L.A. continue to be challenging and MPG's ho-hum operating results reflect those head winds," said analyst Michael Knott of Green Street Advisors.

CBRE Group Inc., the world's largest commercial real estate brokerage, reported a strong third quarter propelled by robust growth in property sales and leasing in the U.S. and abroad. The Los Angeles firm, formerly CB Richard Ellis Group Inc., said Thursday that income from arranging transactions to buy or rent space in offices, warehouses and other commercial properties grew at a double-digit pace from the same period last year. Sales were particularly strong in the Americas; Asia and Europe recorded big increases in leases.

The last surviving Brown Derby restaurant building, a link to the golden age of Hollywood, is on the market for $10.6 million. Now an Italian restaurant and bank, the domed structure at the intersection of Los Feliz Boulevard and Hillhurst Avenue was the fourth Brown Derby, a small restaurant chain popular with the entertainment industry. The owners, a group led by Adler Realty Investments Inc., let go of plans they had in the mid-2000s to raze the building and build a dense residential and retail complex.

When it comes to real estate, all is not always as it seems. Many buyers — and some sellers — labor under misconceptions that could sink their housing aspirations. Take the notion that you will hunt for a house until you find the "perfect" one. Sorry. There is no such thing as the perfect house. Even gently used houses come with blemishes. And new homes rarely, if ever, have absolutely everything you want at the price you want to spend. Another popular myth is that the longer a house is on the market, the more willing the seller will be to negotiate.

In one of the largest property sales in Los Angeles County since the real estate boom of the mid-2000s, a new Warner Center apartment complex has changed hands for nearly $133 million. In one of the largest property sales in Los Angeles County since the real estate boom of the mid-2000s, a new Warner Center apartment complex has changed hands for nearly $133 million. Wesco, a joint venture sponsored by Essex Property Trust, bought the 438-unit Millennium Warner Center from developer Warner Center Apartments, real estate brokerage Institutional Property Advisors said.

Prospective buyers of several downtown landmark properties now have another month to ponder their offers. To the relief of several merchants, the City Council this week postponed a decision on selling the properties, including the Swallows Inn, Cafe Capistrano, Paisley Penguin and El Peon. Instead, the council voted unanimously to wait for an April report from a citizens committee that is studying a new downtown configuration. Given the city budget crisis, however, City Manager Stephen B.

A gain of $5.3 million on the sale of the former Bear Street School property means that the most pressing of their financial problems are behind them, officials of the Newport-Mesa Unified School District said Monday. "I think it is fair to say that the worst is over," Supt. Mac Bernd said. The district, which lost $8.2 million in the county's failed investment pool, had expected to clear about $4.5 million from the sale of the former elementary school in Costa Mesa.

The owners of Hollywood Forever Cemetery say they are interested in buying Glendale's troubled Grand View Memorial Park, which fell into scandal in 2005 when investigators discovered that 4,000 people had been improperly buried. The sale of Grand View -- where public access has been limited for years since the facility fell into a state of disrepair -- is required under the terms of a $3.8-million settlement of a class-action lawsuit against the cemetery's operators. The lawsuit came in the wake of a 2005 state investigation that found the remains of 4,000 people who had not been properly buried.

There's an e-mail going around warning that anyone who sells their home after 2012 "will pay a 3.8% sales tax on it" to help fund President Obama's healthcare reform law. "Oh, you weren't aware this was in the Obamacare bill?" says the e-mail, which is being forwarded by many people but the origins of which remain a mystery. "Guess what, you aren't alone. There are more than a few members of Congress that aren't aware of it either. " The e-mail was called to my attention by Chino resident Ken Burton, who wanted to know whether it was legit.