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BUSINESS
March 27, 2001 | JESUS SANCHEZ, TIMES STAFF WRITER
In a sign of renewed interest in inner city investment, an estimated 500 people attended a recent one-day workshop on the opportunities and pitfalls of real estate development in urban Los Angeles. The larger-than-expected turnout at the Urban Marketplace, which was organized by the Los Angeles chapter of the Urban Land Institute, reflected a shift in the real estate industry's perception of inner city neighborhoods, according to several participants.
ARTICLES BY DATE
CALIFORNIA | LOCAL
November 17, 2012 | By David Zahniser, Los Angeles Times
One of the largest public employee unions at Los Angeles City Hall handed a potentially costly setback to a plan for a new half-cent sales tax, announcing Friday that its political advisory board opposes the measure. Service Employees International Union Local 721's political education committee recommended unanimously Thursday night that the group take a position against the tax, which is backed by City Council President Herb Wesson for the March 5 ballot. The council's final vote on that tax is slated for next week.
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CALIFORNIA | LOCAL
January 8, 2009 | Roger Vincent
Harold "Hal" A. Ellis Jr., a founder of real estate services firm Grubb & Ellis Co. and one of the best known figures in U.S. real estate, died Monday of metastatic melanoma at his home in Piedmont, Calif. He was 77. Ellis built a small Oakland brokerage into a powerhouse whose circular yellow and black signs dot thousands of stores, offices, factories and other commercial properties for sale or lease across the country.
BUSINESS
July 8, 2010 | By Roger Vincent, Los Angeles Times
Suspense over whether the Gas Co. Tower in downtown Los Angeles will remain the headquarters of Southern California Gas Co. is over: The big utility is staying put in its signature tower for the next 15 years. Real estate industry analysts had been watching to see whether the gas company would bail out on troubled landlord MPG Office Trust Inc., formerly Maguire Properties Inc., and move its offices elsewhere. Southern California Gas said Wednesday that it would keep its more than 1,300 employees in 350,000 square feet in the building at 555 W. Fifth St., where it has been the anchor tenant since the tower was completed in 1991.
BUSINESS
October 7, 2004 | Annette Haddad, Times Staff Writer
The state's housing market is expected to see another year of double-digit gains in price appreciation in 2005, but the pace of growth will be more sluggish than in the previous three years, a real estate industry group said Wednesday. Even with slower appreciation, the median price of a resold single-family home in the state is projected to rise 15% to $522,930 next year, making it the fourth consecutive year of increases of 10% or more, according to the California Assn. of Realtors.
BUSINESS
March 24, 1993 | JOHN O'DELL, TIMES STAFF WRITER
Woodcrest Development Inc., one of Southern California's largest home builders in recent years, is shutting down almost all of its operations at the end of the month. The company, which launched a restructuring 13 months ago, is the latest--and largest--victim of the real estate slump that has devastated an industry that long has been a keystone of the area's economy.
BUSINESS
May 4, 2009 | Stuart Pfeifer
Lloyd Charton recalls a fateful knock on the door. At his Dana Point home stood a cheerful man with an impressive knowledge of Charton's personal life. It was a neighbor, Dan J. Harkey. Harkey congratulated him on his retirement and asked about a recent vacation. He told him about his company, Point Center Financial Inc., which raised money from private investors and lent it to real estate developers.
BUSINESS
April 30, 2007 | Annette Haddad, Times Staff Writer
MANY see trouble in falling home prices and rising foreclosures. Karen Krynen sees opportunity. So after dropping her two children off at preschool one day last month, Krynen headed for Los Angeles County Superior Court in Norwalk, where foreclosed houses were being auctioned on the steps outside. The ponytailed Krynen spotted a small crowd gathered against the building's towering, black-marble portico.
REAL ESTATE
December 4, 2005 | Jennifer Lisle, Special to The Times
WHEN Christy Cleveland and her family outgrew their 1,800-square-foot ranch house in Long Beach two years ago, they first considered trading up. Additional expense: $400,000 to $500,000. They next looked at adding a second floor. Estimated cost: $200,000. Ultimately, they decided to add a rec room and extra bath at the back of the garage. Cost: $40,000.
BUSINESS
April 30, 2010 | Alejandro Lazo
The expiring federal tax credit for home shoppers has put some froth back in the Southland's real estate market: People are ditching work to search for new digs, plundering savings for down payments and striking as fast as they can to sign contracts ahead of the Friday deadline. Buyers can get a tax break of up to $8,000 for first-time purchasers and $6,500 for some current homeowners if they reach agreements by April 30 and seal their deals by June 30. California lawmakers sweetened the package last month by passing a $10,000 credit that kicks in Saturday.
BUSINESS
January 24, 2010 | By Roger Vincent
Southern California property professionals are saying good riddance to 2009's rising office vacancies and falling rents, and conjuring hope for somewhat better times later this year. The recession brought layoffs to many white-collar companies, prompting tenants to downsize their offices and sometimes plead for rent reductions. Strapped landlords saw their revenues fall as fewer tenants paid less money to occupy their buildings. Real estate brokerage Colliers International tellingly headlined a recent report: "2009: End of a year gone bad."
BUSINESS
January 24, 2010 | By Roger Vincent
Bill Hoffman has logged more than 1.5 million airline miles in his travels to troubled hotels, office buildings and other business properties. As a court-appointed receiver who takes care of distressed commercial real estate, Hoffman has a long way to go to catch up with George Clooney's ambitiously nomadic character Ryan Bingham in "Up in the Air." But Hoffman is adding mileage points fast. These are boom times for receivers. With the brutal real estate market causing owners to lose their buildings to their lenders, more professionals like Hoffman are being tapped to look after properties until they can be resold.
BUSINESS
January 6, 2010 | By Alejandro Lazo
The number of homes placed under sales contracts tumbled in November from the previous month, presenting fresh evidence that the nascent housing recovery could be poised for a dip in the new year. The National Assn. of Realtors said Tuesday that its pending home sales index -- a forward-looking indicator based on contracts signed in November -- fell 16% to 96 from an upwardly revised 114.3 in October. But the index still was 15.5% higher than for November 2008, when it was 83.1.
BUSINESS
December 30, 2009 | Alejandro Lazo
San Francisco and Tampa, Fla., sit at opposite corners of the country and at opposite ends of the housing recovery. As home prices are picking up nationally, the San Francisco Bay Area has shown improvement for seven consecutive months and posted the strongest gains in home prices in October out of 20 metropolitan regions, according to the Standard & Poor's/Case-Shiller index, a closely watched national measure of home prices, which was released Tuesday....
BUSINESS
December 18, 2009 | By Alejandro Lazo and Tiffany Hsu
A supply of 1.7 million homes headed for sale because of foreclosure or delinquency looms over the nation's housing market, which could dampen progress toward recovery should the Obama administration fail in its efforts to aid struggling homeowners, researchers said. A variety of measures to keep discounted bank-owned properties off the market -- including moratoriums on foreclosures by major lenders and federal initiatives aimed at keeping people in their homes with mortgage payments they can afford -- has helped increase a backlog of so-called shadow inventory 55% in the year ended Sept.
WORLD
February 22, 2009 | Barbara Demick
"Empty," says Jack Rodman, an expert in distressed real estate, as he points from the window of his 40th-floor office toward a silver-skinned prism rising out of the Beijing skyline. "Beautiful building, but not a single tenant. "Completely empty. "Empty." So goes the refrain as his finger skips from building to building, each flashier than the next, and few of them more than barely occupied.
BUSINESS
January 3, 2007 | E. Scott Reckard, Times Staff Writer
Tamika Williams worked in Phoenix for a mortgage company based in Agoura Hills. But her fate was tied to Wall Street, as she found out when she lost her job a few weeks before Christmas. Williams, 29, was among 800 employees nationwide who were laid off when Ownit Mortgage Solutions Inc. announced that it was closing its doors immediately -- and had no money to pay its employees.
BUSINESS
December 17, 2009 | By Alejandro Lazo
Home builders broke ground on new residences at a faster clip in November than in October, a positive sign for the housing market and the residential real estate industry. Housing starts rose 8.9% from the prior month to a seasonally adjusted annual rate of 574,000 units, the Commerce Department reported Wednesday. However, that figure represented a 12.4% decline from November 2008. The jump can be attributed in part to a shift in weather patterns, Patrick Newport, U.S. economist for Global Insight, said in a note to clients.
BUSINESS
December 11, 2009 | By E. Scott Reckard
Interest rates on home mortgages edged higher this week, bouncing off record lows, but fixed-rate loans are still averaging well below 5% for those who are coming out of the recession with solid credit and can muster 20% down. Those lucky borrowers were getting 30-year fixed loans at an average of 4.81% for the week ending Thursday, according to Freddie Mac, the government-backed mortgage buyer and guarantor. On those loans, the borrowers were paying 0.7% of the loan amount in upfront lender fees including so-called points.
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