April 2, 2014 |
From some classic Adirondack chairs in front of his colorful new office complex near Marina del Rey, commercial landlord Ned Fox can sit back and watch his property value go up. The developer who made his bones building skyscrapers in downtown Los Angeles during the late 1980s and early 1990s today finds himself with a close-up view of the rapidly evolving planned community of Playa Vista and the young tech and entertainment workers transforming the...
March 29, 2014 |
This time last year, investment firms raced to buy dozens of single-family homes in neighborhoods from Fontana to South Los Angeles to lease them out, transforming the mom-and-pop rental business into a Wall Street juggernaut. The flood of cash helped spark a steep rise in prices, drawing criticism for pushing families out of the market. But now the firms themselves have all but stopped buying in Southern California, the latest evidence that home prices have hit a ceiling. The professional investors no longer see bargains here.
CALIFORNIA | LOCAL
March 29, 2014 |
Former Los Angeles Times reporter Ruth Ryon, who created the highly popular and enduring Hot Property column on celebrity real estate, died Friday at a hospice facility in Redondo Beach. She was 69. The cause was complications of Parkinson's disease, said her husband, George Ryon. For Angelenos, some of whom visit homes for sale even if they're not looking to buy, Ryon's column quickly became a guilty-pleasure must-read. The first column, which appeared Nov. 25, 1984, led with Johnny Carson buying a house in Malibu for $9.5 million, at the time the most ever paid in that area for a single-family home.
March 25, 2014 |
Southern California is home to some of the most overpriced housing markets in the country. And that's taking the wind out of the recovery. Three Southland regions ranked among the five most overvalued markets in the U.S. in a new report by real estate website Trulia. These are places where the housing costs have far outpaced growth in income. Separately Tuesday, the closely watched S&P/Case-Shiller index reported that Los Angeles home prices inched down in January - the first monthly decline in two years.
March 19, 2014 |
As the busy spring real estate season gets into gear, sellers appear to have the upper hand across much of Southern California. That's the word from Zillow, the real estate data website that tracks housing markets nationwide. It released a report on the top 10 buyer's and seller's markets in the U.S. Wednesday morning, and Los Angeles made the list as the fourth-strongest market for sellers right now. Riverside ranked sixth. A strong seller's market, says Zillow, doesn't necessarily mean its prices are soaring - and indeed median prices have been flat here in recent months - but rather quick sales, few price cuts, and homes selling at or above asking price.
March 16, 2014 |
WASHINGTON - The economy may be growing at a frustratingly slow pace, but one piece of it is booming: American homeowners' equity holdings - the market value of their houses minus their mortgage debts - soared by nearly $2.1 trillion last year to $10 trillion. Big numbers, you say, and hard to grasp. But look at it this way: Thanks to rising prices and equity levels, about 4 million owners around the country last year were able to climb out of the financial tar pit of the housing bust - negative equity.