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August 2, 2012
MUSIC The gauzy New Jersey group Real Estate revives '90s indie rock with a modern, hazy spin. With the excellent dub-noise act Sun Araw. Fonda Theatre, 6126 Hollywood Blvd., L.A. 8 p.m. Fri. $20.
April 15, 2014 | By Andrew Khouri
Most Californians can't afford their rent. The state's affordability crisis has worsened since the recession, as soaring home prices and rents outpace job and income growth. Meanwhile, government funds to combat the problem have evaporated. Local redevelopment agencies once generated roughly $1 billion annually for below-market housing across California, but the roughly 400 agencies closed in 2012 to ease a state budget crisis. In addition, almost $5 billion from state below-market housing bonds, approved by voters last decade, is nearly gone.
October 17, 2012 | By Pat Benson
Foreclosures started in California have dropped to the lowest level since early 2007, the latest sign that the housing market is rebounding faster than analysts expected. Join us for a live video chat on the state of real estate in California and the nation at 3 p.m. PDT with Times real estate editor Nancy Rivera Brooks and consumer columnist David Lazarus. We invite you to join in on the conversation by posting comments and questions below. LIVE VIDEO DISCUSSION: Join us at 3 p.m. today Notices of default fell 10.2% from the previous quarter and were down 31.2% from the same period last year, San Diego-based DataQuick reported Wednesday.
April 5, 2014 | Tim Logan
The real estate market has long worked on a simple system: If you want to buy a new house, sell the old one and use the equity for a down payment. But the last few years of low ownership costs and rising rents have some move-up buyers trying a new approach: Buy the new house. Keep the old one. And rent it out. Real estate firm Redfin recently asked 1,900 prospective home buyers nationwide what they planned to do with their old house when they bought a new one. As you'd expect, the majority said they would sell.
January 26, 2009
As lawmakers look for a way out of the recession, it's worth remembering how we got into this mess in the first place. The collapse of the housing market sucked trillions of dollars worth of real estate wealth out of the economy, starting a vicious cycle of cutbacks by consumers, lenders and businesses. But the collapse wasn't a one-time event.
June 4, 2009 | MEGHAN DAUM
As a homeowner, I know it's counterproductive to take delight in the real estate misfortunes of my neighbors. But massive price reductions on a house down the street from me have left a lot of us in the neighborhood gloating. A hulking McMonstrosity that's jaw-droppingly out of place among the modest bungalows that surround it, the house was clearly intended by its owner/builder to be a cash cow.
June 10, 2012
Sprawling estate with ocean vistas Location: 6264 Ocean Terrace Drive, Rancho Palos Verdes 90275 Size: Five bedrooms and 51/2 bathrooms in 5,620 square feet Published: April 10, 2011 Listed then at: $3.95 million Sold for: $3.5 million in September An old L.A. feel inside and out Location: 3138 Oakshire Drive, Los Angeles 90068 Size: Four bedrooms and 31/2 bathrooms in...
January 3, 2010 | By Alejandro Lazo
The gig: Syd Leibovitch, 48, is owner and president of Rodeo Realty in Bel-Air, one of the largest independent realty firms in California, with 12 branch offices in Los Angeles and Ventura counties staffed by about 1,000 brokers and agents. The company sold and listed more than $2.5 billion worth of homes in 2009, according to Leibovitch, including a nine-bedroom, $15.9-million Beverly Hills villa that had a parking lot designed to hold up to 100 cars for entertaining. Leibovitch also owns and operates LA Mortgage, Progressive Title and Encore Escrow.
February 19, 2013
Re "Home seekers edged out in Inland market," Feb. 17 On the one hand, it is truly heartbreaking to read that the efforts of qualified young professionals to buy homes are being thwarted by investors offering all cash, "some backed by Wall Street war chests. " On the other, it is absolutely revolting that greedy investors are so anxious to flip properties and make even more money that they are cheating the next generation of what they themselves are so lucky to enjoy: homeownership.
August 1, 2010 | By Sarah Weinman, Special to Los Angeles Times
Though I write for this West Coast newspaper, I live in New York City. That means, like a lot of dwellers of the five boroughs, I spend a disproportionate amount of time thinking about real estate, whether griping about too-high rents for tiny apartments or the erection of another steel-heavy skyscraper in my neighborhood. Walking underneath scaffolding, zigzagging through hastily constructed passageways and watching the work of those awe-inspiring cranes brings to mind other salient points about the making of buildings: construction delays, unfortunate accidents and financial mismanagement.
April 2, 2014 | By Roger Vincent
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 | By Tim Logan
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.
March 29, 2014 | By David Colker
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 | By Tim Logan and Andrew Khouri
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 | By Tim Logan
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 | By Kenneth R. Harney
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.
July 30, 2009 | Geraldine Baum
Despite carnage on Wall Street, vacant storefronts on Madison Avenue and pricey restaurants offering "grill menus" (read: cheap burgers), some things remain unchanged in the great metropolis. The price of the average Manhattan apartment is still hovering at more than $1 million.
July 24, 2009 | Roger Vincent and Andrea Chang
In a move that could nearly double its Southern California footprint, the 7-Eleven convenience store chain is taking steps to lease up to 600 new locations in the region. The company hired commercial real estate broker CB Richard Ellis on Thursday to begin scouting locations for a planned seven-year expansion that would add to the 800 stores that 7-Eleven operates from San Luis Obispo County to the Mexico border. 7-Eleven, a Dallas unit of Tokyo-based Seven & I Holdings Co.
March 14, 2014 | By E. Scott Reckard
A former Fannie Mae employee was convicted late Friday of soliciting kickbacks from a broker with promises to steer lucrative listings of foreclosed homes his way. The federal court jury in Santa Ana convicted Armando Granillo of three counts of fraud, rejecting his contention that he intended to cheat only the broker, not Fannie Mae, the nation's largest home-finance firm. At the end of a two-day trial, the jury took less than two hours to convict Granillo, who sat grimly as each of the jurors affirmed the guilty verdicts.
March 9, 2014 | By Kenneth R. Harney
WASHINGTON - You may have seen reports about a major tax reform proposal floated recently by Rep. Dave Camp of Michigan, the chairman of the House Ways and Means Committee. But you probably didn't see the grisly list of long-standing home real estate tax benefits that would be eliminated or sharply reduced under Camp's plan. Here's a quick overview. But first, some basics: •This is no back-of-the-napkin set of proposals. Camp and his committee - the primary tax-writing panel in Congress - have been working on this for two years.
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