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Real Estate Industry Los Angeles County

BUSINESS
September 7, 1999 | BOB HOWARD, SPECIAL TO THE TIMES
"Give me land, lots of land," the old song goes. "Don't fence me in." That plea could be Los Angeles County's theme song these days as a shortage of land for homes, apartments and factories poses one of the biggest threats to the county's continued prosperity.
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BUSINESS
August 31, 1999 | BRAD BERTON
Fresh from a round of venture capital-raising that netted the company $8.75 million, fast-growing Web "hosting" provider Virtualis Systems Inc. has agreed to lease the 43,000-square-foot top floor of Media Studios North, an office development near the Burbank-Glendale-Pasadena Airport. The company, headed by 25-year-old Chief Executive Chris Lyman, started in a house three years ago before moving to interim facilities in Studio City.
BUSINESS
August 28, 1999 | DAVID COLKER, TIMES STAFF WRITER
In a sign that the Antelope Valley may finally be emerging from years of economic stagnation, Newhall Land & Farming Co. said Friday that it is entering into a joint venture with Kaufman & Broad Home Corp. to build a long-delayed, 5,000-home development on the western edge of Palmdale.
BUSINESS
August 24, 1999 | From a Times Staff Writer
The office market in Los Angeles and Orange counties remained relatively strong during the first half of the year, but there were signs that the market's performance will fall below last year's results, according to a regional real estate survey. The vacancy rate for all classes of office space remained relatively stable, falling to 11.8% at midyear 1999 from 11.9% at the end of last year, according to Delta Associates, the research arm of Transwestern Commercial Services.
BUSINESS
August 17, 1999
South Bay Office Net Absorption In millions of square feet 1997 QIII: 0.13 1997 QIV: 0.58 * 1998 QI: 0.35 Eight-quarter average: 0.03 million square feet 1998 QII: -0.64 1998 QIII: -0.19 1998 QIV: 0.07 * 1999 QI: -0.08 1999 QII: -0.09 South Bay Office Vacancy Rates 2nd-quarter 1999 with sublet: 15.2% 1999 QII: Without sublet: 13.5% Note: Net absorption reflects the gain in rented space.
BUSINESS
August 14, 1999 | Julie Tamaki
Los Angeles County home prices dipped for the first time this year as more entry-level home buyers entered the housing market last month, according to a real estate information service. The median price of new and resale homes and condominiums in Los Angeles County decreased to $191,000 in July from $199,000 in June.
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.
BUSINESS
July 22, 1999 | DARYL STRICKLAND, TIMES STAFF WRITER
Los Angeles County leads the nation in demand for housing and, with just one new home being built for every six new jobs added in the area, competition for shelter is likely to grow, according to a new study. Orange County and the three other major Southland markets also finished high on the housing-demand list in a quarterly report compiled by the Meyers Group, an Irvine-based housing research firm.
BUSINESS
July 20, 1999 | SUE McALLISTER, TIMES STAFF WRITER
The Southern California housing market broke records in June, when the median price of a resale home climbed to a new high and more money than ever was spent buying such homes, a real estate information company said Monday. Led by rising prices in Los Angeles County, the median cost of an existing single-family home in the six-county region rose to $204,000 last month, according to figures released by Acxiom/DataQuick, a La Jolla-based company that tracks real estate transactions.
CALIFORNIA | LOCAL
July 7, 1999 | ANDREW BLANKSTEIN
The median price for a new single-family home in the San Fernando and Santa Clarita valleys soared 33.3% during the second quarter of 1999 compared with year-ago figures, an industry group reported Tuesday. The median price for a new house now stands at $329,990, according to the Meyers Group real estate consulting firm. That compared with a $247,450 median price for the second quarter of 1998. The group defined the second quarter as mid-March through mid-June.
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