May 23, 2000 |
Southern California's commercial real estate markets are plenty strong enough to withstand last week's half-point hike in interest rates by the Federal Reserve, and plenty of capital is available to finance commercial property transactions. But the rate boost could further slow some segments of the market where the number of transactions already was in decline. It means investors will have to put more of their own money into deals and/or settle for lower returns on their investments.
April 20, 2000 |
Continuing an acquisition and development blitz, real estate investment trust Casden Properties Inc., has agreed to purchase 97 acres adjacent to Hollywood Park in Inglewood from Pinnacle Entertainment Inc. Beverly Hills-based Casden plans to build a residential community at the site. The privately held trust is developing more than 3,000 luxury housing units in Los Angeles, including the Villa Azure in West L.A.
April 19, 2000 |
Home prices in Los Angeles and Orange counties surged last month to new highs for any March on record, showing no signs of slowing down despite rising interest rates and the gyrating stock market. In Los Angeles County, the median price of all housing--the point at which half the homes are sold for more and half for less--rose 6% to $192,000, according to Acxiom/Dataquick Information Systems Inc., a La Jolla real estate research firm.
April 18, 2000 |
Nerissa Rosete fell in love with a pricey South Orange County home, especially its impressive view of the mountains. She entered escrow, putting $20,000 down. But she walked away from the deal, losing half her down payment, after a consultant noted the way the backyard steeply dropped off to meet Interstate 5. It was, he warned her, bad feng shui: The receding yard would prompt energy to rush out of the home.
April 7, 2000 |
Rising home prices and interest rates left a growing number of Californians unable to afford homes in February and turned Orange County into one of the least affordable areas in Southern California, according to an industry survey released Thursday. Only 28% of the county's households could afford to buy the typical home, down from 31% in January and 36% a year earlier, according to the survey by the California Assn. of Realtors.
March 28, 2000 |
Growing businesses in Los Angeles and Orange counties are filling new office buildings pretty much as fast as they are being constructed, suggesting that developers and lenders in this real estate cycle are doing a more prudent job of matching supply with demand than they did in the now-infamous overbuilding debacle of the late 1980s and early 1990s. Nearly 30% of the speculative office space that was built in L.A.
February 29, 2000 |
Shares of real estate services firm Kennedy-Wilson Inc. have fallen 26% over the last two days on disappointing fourth-quarter earnings and concern over rising expenses, analysts said. Beverly Hills-based Kennedy-Wilson shares fell 88 cents to close at $6.13 on Nasdaq. Earlier, the shares reached a 52-week low of $5.88. The company said last week that fourth-quarter net income fell to $1 million, or 11 cents a share, from $3.
February 29, 2000 |
The growth of the Internet has wrought profound changes throughout Southern California's real estate industry and will produce even greater changes in the years ahead, according to one of the most comprehensive studies to date on the effect of electronic commerce on real estate.
February 22, 2000 |
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.
February 17, 2000 |
Southern California home prices continued to rise in January, while the sales pace remained flat, a real estate research firm reported. The median price paid for a Southland home rose to $195,000 in January, up 8.9% from $179,000 for the same time a year ago. San Diego County led the region with a 12.8% increase, according to John Karevoll, an analyst for Acxiom/Dataquick of La Jolla. Ventura County prices rose 11.4%; San Bernardino, 9.8%; Orange County, 8.7%; Riverside County, 7.