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Real Estate Industry Los Angeles County

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CALIFORNIA | LOCAL
August 9, 1999 | NICHOLAS RICCARDI, TIMES STAFF WRITER
Los Angeles County's real estate market continues to climb out of the depths of the recession of the early 1990s, but the region's more affluent neighborhoods have made markedly greater gains than other areas, according to property tax data to be released today. Overall, the county's real estate assessments increased by $30 billion, or 6%, last year, a boost that shuts the door on years of decline in property values that led to government crises and financial hardship for homeowners.
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BUSINESS
November 17, 2001 | DARYL STRICKLAND, TIMES STAFF WRITER
Home sales in Los Angeles County rebounded in October, raising hopes that the region's housing market will stay on track despite the economic downturn and the events of Sept. 11. Boosted by strong purchases of lower-priced houses, sales overall rose 5% from October 2000, after a 6% decline in September. The median price rose by 12% last month from year-ago levels, to $227,000, according to a report Friday by DataQuick Information Systems.
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CALIFORNIA | LOCAL
May 20, 1991 | JANET RAE-DUPREE, TIMES STAFF WRITER
Would-be home buyers, tantalized by a bidding minimum of $395,000, thought they could get a recession-era real estate bargain Sunday at an auction of luxury homes. Instead, they found themselves caught up in a bidding frenzy that seemed like a throwback to pre-recession days.
BUSINESS
October 8, 2001 | Jesus Sanchez
The owners of one of the South Bay's largest industrial parks--the Port Los Angeles Distribution Center--have sold the property for an estimated $130 million, according to people familiar with the deal. A pension fund advisory firm identified as State Street Resources purchased the nearly 2-million-square-foot complex in San Pedro on behalf of one of its clients.
CALIFORNIA | LOCAL
October 18, 1997 | SOLOMON MOORE, TIMES STAFF WRITER
Federal authorities have charged two men in connection with an alleged $60-million fraud scheme against the U.S. Department of Housing and Urban Development, believed to be the largest in the agency's history. The two men allegedly bought inexpensive apartment houses all over Los Angeles County, worked with appraisers to inflate their value and then recruited low-income people to apply for HUD loans to supposedly buy the properties.
CALIFORNIA | LOCAL
April 17, 1998 | BARRY STAVRO, TIMES STAFF WRITER
Stanley Glickman, a principal in one of the San Fernando Valley's biggest real estate Ponzi schemes, has pleaded guilty to 17 felony counts in a case involving more than $1.2 million in losses to investors, the district attorney's office said Thursday. Glickman and his father-in-law, Elliot Fine, from 1970 to the early 1990s ran Property Mortgage Co. in Sherman Oaks.
BUSINESS
June 5, 1990 | PATRICE APODACA, TIMES STAFF WRITER
Mike Glickman Realty Inc., the San Fernando Valley's largest residential real estate brokerage firm, will close all of its offices and lay off its more than 1,200 agents by Wednesday, industry sources and Glickman agents said Monday. In addition, agents said owner Mike Glickman has told them that he intends to liquidate the company through bankruptcy. Glickman, who until recently steadfastly denied rumors of impending failure, would not return phone calls.
CALIFORNIA | LOCAL
July 25, 1994 | PHIL SNEIDERMAN, TIMES STAFF WRITER
Four years ago, economist Ron Halcrow had some bad news for Palmdale and Lancaster, the dusty desert towns that had become two of California's fastest growing cities almost overnight. At the northern edge of Los Angeles County, where dozens of spanking-new housing tracts had sprouted in the old alfalfa fields during the mid- to late 1980s, he saw dark clouds on the horizon.
BUSINESS
March 7, 2000 | JESUS SANCHEZ, TIMES STAFF WRITER
It used to be that all a landlord would require from a prospective tenant was a security deposit and first and last month's rent. Now, a small but growing number of Southern California commercial landlords are asking some tenants to cough up one more item: stock. The soaring values of high-technology shares and splashy Internet stock offerings find some Los Angeles building owners acting like Silicon Valley venture capitalists.
NEWS
March 14, 1994 | SHAWN HUBLER, TIMES STAFF WRITER
They may be subjective, they may be arcane, they may not even be right. But for a pinched little pile of numbers, the new school assessment scores have, as usual, packed a mighty punch. In Hermosa Beach, Cathy McCurdy, school board member and mom, could not wait to show off. "D'ja see the scores?" she called to people along funky Pier Avenue. "D'ja see the scores?" she asked the Kiwanis Club. They had.
NEWS
June 19, 2001 | DARYL STRICKLAND, TIMES STAFF WRITER
Typical home prices in Orange and Los Angeles counties set record highs last month, the latest indication that the region's housing market is barreling ahead despite the sluggish national economy. In May, the median price of new and existing homes sold in Orange County rose nearly 11% from a year earlier to $297,000, according to a report released Monday by DataQuick Information Systems.
NEWS
June 19, 2001 | DARYL STRICKLAND, TIMES STAFF WRITER
Home values in Los Angeles County last month recorded the biggest growth spurt in 12 years, as the median price of houses sold jumped by 13% from a year earlier to a record $219,000, according to figures released Monday. The surprisingly strong report was further indication that the region's housing market is barreling ahead despite the weakening national economy.
CALIFORNIA | LOCAL
April 24, 2001 | ANDREW BLANKSTEIN, TIMES STAFF WRITER
The traditional spring home-buying season kicked off with a vengeance in March as San Fernando Valley home sales jumped 57.9% but fell short of the previous year's activity. A total of 1,058 homes closed escrow in March, up from 670 in February. However, sales were down 5.2% in March compared with the same month a year ago, the Southland Regional Assn. of Realtors reported. Home values held their ground from February and rose 10.8% from the same period in 2000.
BUSINESS
April 18, 2001 | DARYL STRICKLAND, TIMES STAFF WRITER
Surging Southern California home prices last month set a new high in Los Angeles County and matched a record in Orange County, surprising analysts who expected the softening economy to slow the rising cost of housing. The median price for a Los Angeles County home shot up 13.5% to $218,000 in March over the same month last year, according to a report released Tuesday by DataQuick Information Systems Inc., a La Jolla research firm. It was the largest year-to-year monthly increase since 1989.
BUSINESS
March 15, 2001 | DARYL STRICKLAND, TIMES STAFF WRITER
The region's housing market paused last month as home sales in Los Angeles and Orange counties declined from year-earlier levels, according to a report Wednesday. But prices of all kinds of homes grew robustly in February, and analysts generally viewed the drop-off in sales--7% in Los Angeles County and 21% in Orange County--as a one-month blip partly attributed to low inventories.
BUSINESS
March 6, 2001 | JESUS SANCHEZ, TIMES STAFF WRITER
The highly acclaimed work of Los Angeles architect Scott Johnson and his colleagues ranges from mansions in Malibu to bank branches in Beijing. But the 50-year-old Johnson is best known in the skyscraper business, and his most recent creation is about to start construction: the 35-story MGM Tower. When completed in 2003, it will be Johnson's third Century City skyscraper and the first major new high-rise to be completed in the city of Los Angeles in more than a decade.
BUSINESS
March 11, 1998 | Brad Berton
Veteran Los Angeles real estate executive Edward D. "Ned" Fox Jr., who has served as interim president and chief executive at Alexander Haagen Properties Inc. since the namesake founder stepped down in November, will be appointed to that post today. Fox, 50, a former president and CEO of local commercial real estate developer Maguire Partners, also remains a senior partner in CommonWealth Partners, a real estate firm he and six other former Maguire officers formed in 1996.
CALIFORNIA | LOCAL
April 17, 1998 | BARRY STAVRO, TIMES STAFF WRITER
Stanley Glickman, a principal in one of the San Fernando Valley's biggest real estate Ponzi schemes, has pleaded guilty to 17 felony counts in a case involving more than $1.2 million in losses to investors, the district attorney's office said Thursday. Glickman and his father-in-law, Elliot Fine, from 1970 to the early 1990s ran Property Mortgage Co. in Sherman Oaks.
CALIFORNIA | LOCAL
February 20, 2001
The market for industrial real estate in the San Fernando and Santa Clarita valleys remains strong, according to the 8th Annual Market Review and Forecast by the American Industrial Real Estate Assn. Last year, more than 6.5 million square feet of industrial space was leased or sold in the region. In the Santa Clarita area, lease rates and sales prices rose over 7% due to a 3% vacancy rate.
BUSINESS
January 17, 2001 | DARYL STRICKLAND, TIMES STAFF WRITER
A decade after the long recession first hit the Southland, the annual median home price in Los Angeles County last year blasted past its pre-recession high to a record $199,000, according to a survey released Tuesday. Throughout last year, the nation's largest housing market pushed up prices--three times--to record monthly levels and ended up with a 6% gain over the previous year, according to DataQuick Information Systems Inc., a La Jolla research firm.
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