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Real Estate Industry Southern California

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BUSINESS
February 27, 1992 | JOHN O'DELL, TIMES STAFF WRITER
Escalating the weaponry in the builders' battle for home buyers, Presley of Southern California on Wednesday launched a five-year warranty plan covering all of its new houses. The firm, the largest of the Presley Cos.' five home-building divisions, said it also will provide all home buyers with a mortgage payment insurance plan--something several other Orange County builders recently began offering. The five-year warranty, however, appears to be rare. Bob Albertson Jr.
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NEWS
March 24, 2002 | LIZ PULLIAM WESTON and DARYL STRICKLAND, TIMES STAFF WRITERS
Spiraling home prices, bidding wars for desirable and even not-so-desirable properties, panicked home buyers afraid they're about to be shut out of the market--Terry Harman of Long Beach has seen all this before. That's what the Southland real estate scene was like in 1989, the last time Harman bought a home.
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BUSINESS
November 8, 1990 | JOHN O'DELL, TIMES STAFF WRITER
Irvine Co., the giant Orange County developer, said Wednesday that it will dramatically curtail new projects and lay off 40 employees as its prepares for a lengthy economic downturn. The action by Orange County's premier developer underscores the mounting problems of the real estate industry in Southern California, which is being hurt by a slumping economy and financing difficulties related to bank and thrift problems.
BUSINESS
August 21, 2001 | MORRIS NEWMAN, SPECIAL TO THE TIMES
In yet another demonstration of the power of entertainment and technology firms to bring neglected neighborhoods to life, an obscure corner of Culver City has emerged as a fashionable hub of creative industries. Architects, advertising agencies, post-production companies and Internet-related firms are crowding into the Hayden Tract, a 50-acre huddle of industrial buildings south of Venice Boulevard that was formerly considered a drab secondary market.
BUSINESS
April 5, 1992 | CARLA LAZZARESCHI, TIMES STAFF WRITER
The Beau Monde Mall in suburban Denver was one of those shopping centers tailor-made for the "shop-till-you-drop" 1980s. Outfitted with rustic tile floors, wide brick arches and black wrought-iron lampposts to resemble a quaint European village, the $34-million center had grandiose plans to offer residents of its tony neighborhood an assortment of fancy boutiques and fine restaurants. But then the bottom fell out of the Denver economy, and the mall never filled.
CALIFORNIA | LOCAL
December 16, 1999 | DAVID ROSENZWEIG, TIMES STAFF WRITER
In the start of a nationwide crackdown, federal authorities Wednesday announced criminal charges against 39 Southern California mortgage loan brokers, real estate professionals, escrow agents and others accused of obtaining more than $110 million worth of fraudulent FHA-insured loans.
BUSINESS
November 6, 1990 | PATRICE APODACA, TIMES STAFF WRITER
The mansion has a pink exterior, covers 10,000 square feet, has a marble-laden interior, a large gourmet kitchen, spas, saunas and a ballroom-size living room. It also has a posh address in Encino, located in the Clark Gable estates area, just around the corner from convicted junk bond king Michael Milken. The house belonged to Mike Glickman, the former San Fernando Valley real estate phenom who filed for personal and corporate bankruptcy liquidation in June.
CALIFORNIA | LOCAL
July 28, 1990 | TRACY WILKINSON, TIMES STAFF WRITER
A Beverly Hills-based real estate consortium has been accused by state officials of "blatant and egregious" fraud in a complicated and extensive investment scheme that may have cost 400 victims millions of dollars throughout Southern California.
BUSINESS
August 21, 2001 | MORRIS NEWMAN, SPECIAL TO THE TIMES
In yet another demonstration of the power of entertainment and technology firms to bring neglected neighborhoods to life, an obscure corner of Culver City has emerged as a fashionable hub of creative industries. Architects, advertising agencies, post-production companies and Internet-related firms are crowding into the Hayden Tract, a 50-acre huddle of industrial buildings south of Venice Boulevard that was formerly considered a drab secondary market.
BUSINESS
March 7, 1995 | KATHY M. KRISTOF, SPECIAL TO THE TIMES
Foreclosures continue to bedevil the Southern California real estate industry, which is grappling with depressed prices and devastating damage from natural disasters ranging from fires to earthquakes to floods. And adding to the disaster for some homeowners is a taxable gain at the same time they must give up their home.
BUSINESS
July 18, 2001 | DARYL STRICKLAND, TIMES STAFF WRITER
Home values in Los Angeles and Orange counties continued growing at a vigorous pace last month, led by sharp gains among moderately priced houses, according to a report released Tuesday. Sales of homes in Los Angeles County also exceeded expectations as consumers brushed aside concerns about the sluggish economy to take advantage of low mortgage rates. Analysts said the latest results suggest that the region's housing market will hold up well during the peak summer home-buying months.
BUSINESS
April 10, 2001 | BOB HOWARD, SPECIAL TO THE TIMES
Southern California's leading office markets remain strong despite the failures and consolidations of dot-coms and other technology firms, industry experts say. Landlords in the region's most desirable office markets are resisting cutting rents even though the tech shakeout knocked occupancy rates down during the first quarter, especially on the dot-com-flush Westside.
BUSINESS
March 20, 2001 | BOB HOWARD, SPECIAL TO THE TIMES
Some office buildings are born empty. Others have emptiness thrust upon them by such forces as age, neglect, legal squabbles or stubborn owners. It's understandable that office buildings would empty in periods like the recession of the early 1990s, when demand for office space dropped from a torrent to a trickle. But what's puzzling to passersby is how some properties could remain vacant in the best of times and in the best of real estate markets.
NEWS
February 22, 2001 | DARYL STRICKLAND, TIMES STAFF WRITER
Million-dollar homes might evoke images of white columns, expansive gardens and horse stables. But California's spectacular wealth creation has propelled the housing market so high that buyers might get no more than a 1,000-square-foot tract home for seven figures in some communities. A record 11,364 homes statewide fetched $1 million or more last year, a sales volume that represents a 51% increase from 1999.
BUSINESS
February 20, 2001 | JESUS SANCHEZ, TIMES STAFF WRITER
Southern California commercial real estate is in fairly good shape to weather an economic slowdown but the era of soaring rents and plunging vacancy rates is over for now, said participants at an industry forecast conference. Vacancy rates remain extremely low in many areas, and, with a few notable exceptions, new construction has not outstripped demand, according to industry observers.
BUSINESS
January 23, 2001 | BOB HOWARD, SPECIAL TO THE TIMES
Years of optimism about Southern California's commercial real estate markets gave way to hints of pessimism for 2001 among panelists at a real estate conference last week. Speakers by no means presented a doom-and-gloom forecast, and some suggested that certain aspects of the slowdown--as well as anticipated interest rate cuts--could produce benefits for the real estate industry.
BUSINESS
December 28, 1999 | BOB HOWARD, SPECIAL TO THE TIMES
Most of the commercial real estate markets in Southern California will continue to prosper next year--though downtown Los Angeles will probably still struggle--and the long-suffering Mid-Wilshire market might finally turn around. Meanwhile, Orange County's office market will outpace all others in the region, and the Inland Empire will further expand its growing role as a center for warehousing and distribution with an industrial space base that now exceeds Orange County's.
BUSINESS
February 22, 2000 | From Staff and City News Service
About 40% of Orange County home buyers last month and 32% of those who bought homes in Los Angeles County used adjustable-rate mortgages to finance their purchases, a real estate information service reported Monday. The percentage of California home buyers who financed their purchases in December with ARMs also remains relatively low, an indication that buyers are not stretching their finances thin, according to Acxiom Corp.'s DataQuick Products Division.
BUSINESS
January 2, 2001 | BOB HOWARD, SPECIAL TO THE TIMES
Optimism is the operative word among those assessing the outlook for Southern California's commercial real estate markets in 2001--despite reports of a slowing U.S. economy. Consultants, developers, builders and brokers who track the regional markets for office, industrial and retail space believe demand will continue to grow this year, albeit at a slower pace than in recent years.
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