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BUSINESS
March 9, 2014 | By Kenneth R. Harney
WASHINGTON - You may have seen reports about a major tax reform proposal floated recently by Rep. Dave Camp of Michigan, the chairman of the House Ways and Means Committee. But you probably didn't see the grisly list of long-standing home real estate tax benefits that would be eliminated or sharply reduced under Camp's plan. Here's a quick overview. But first, some basics: •This is no back-of-the-napkin set of proposals. Camp and his committee - the primary tax-writing panel in Congress - have been working on this for two years.
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BUSINESS
March 8, 2014 | By Lauren Beale
Jared Padalecki, who stars on the long-running CW series "Supernatural," has recorded a very down-to-earth house sale in the San Fernando Valley for $2.4 million. The 1924 Spanish-style home, featuring vaulted beam ceilings and stained glass, has been fully renovated. A rough-hewn wooden door serves as the house's portal, so to speak. The 3,818 square feet of space inside includes a massive arch-topped window, a glass-enclosed library/office, a family/game room, four bedrooms and five bathrooms.
BUSINESS
March 2, 2014 | By Kenneth R. Harney
WASHINGTON - One of the mortgage products that contributed to the housing crash is booming again: New home equity credit line borrowings soared 42% in the final three months of 2013 and were up sharply for the entire year, to $111 billion. But does this point to a return to the "my house is an ATM" mentality that characterized excessive home equity borrowing from 2004 through 2007, just before the crash? Should consumers - and the banks doling out the cash - be cautious about this trend?
BUSINESS
March 1, 2014 | By Lauren Beale
Perched on a hillside overlooking the Pacific, this restored country French-style house in the Malaga Cove area was designed for family life and elegant entertaining. The architect, Beverly Hills-based Gerard Colcord, was known for creating well-proportioned classic homes. Location: 772 Via del Monte, Palos Verdes Estates 90274 Asking price: $3.285 million Year built: 1974 House size: Three bedrooms, four bathrooms, 3,712 square feet Lot size: 17,227 square feet Features: High-ceiling entry, French doors, coved living room ceiling, three fireplaces, new kitchen, breakfast room, formal dining room, beamed-ceiling family room with wet bar, main-floor master suite with bay window and two bathrooms, patios, fountains, three-car garage About the area: Last year, 348 single-family homes sold in the 90274 ZIP Code at a median price of $1.424 million, according to DataQuick.
CALIFORNIA | LOCAL
February 25, 2014 | By Adolfo Flores
The mayor of Santa Ana's vote in favor of offering a local business an exclusive city contract after swapping a piece of property with the owner is troubling, said a UC San Diego professor. "It does raise the question about whether there was a quid pro quo," said political science professor Steven Erie. "It makes you wonder whether the swap predisposed or set him up to support the later vote. " As part of his real estate transaction, Mayor Miguel Pulido also purchased a Westminster home from the auto parts business owner for about $230,000 below fair market value, according to property records.
CALIFORNIA | LOCAL
February 24, 2014 | By Adolfo Flores
Santa Ana's longtime mayor is under investigation for his relationship with an auto parts business owner, to whom the mayor sold a piece of downtown property and then voted in favor of giving the auto parts store an exclusive city contract. As part of his real estate transaction, Mayor Miguel Pulido also purchased a Westminster home from the auto parts business owner for about $230,000 below fair market value, according to property records. Pulido later sold the home for a $197,000 profit.
BUSINESS
February 23, 2014 | By Anky van Deursen
Question: When I moved my family into our apartment five years ago, the carpets were in very poor shape. They had obviously been installed there several years earlier. During the time we have lived there, the carpets have begun to show signs of wear in every room. In some spots, there is almost no carpet left. I have written to my property manager several times to ask that the carpets be repaired or replaced, but all I get in response are vague promises to "get to it" at some time in the future.
BUSINESS
February 23, 2014 | By Donie Vanitzian
Question: All owners in my association received a letter from the board's vice president along with photos showing everything that's wrong in our building. Some things that were listed as "wrong" have been dormant for dozens of years, and still this high-rise has not fallen down and his issues do not pose a liability. Some things have been deliberately tampered with by the vice president so he could say that they are "wrong. " Now that he has sent this list to all owners, what are the ramifications if we want to sell our units?
BUSINESS
February 23, 2014 | By Lew Sichelman
House-hunters can find homes on their own. So can renters who are not quite ready to take the leap into homeownership. But do you really want to go it alone? Why not let an agent do the legwork for you? Hiring an agent to help with your search for a rental apartment may be a big-city phenomenon, especially in places like Los Angeles, New York and Chicago. But real estate agents everywhere can help renters find suitable accommodations just as they help buyers find houses. And perhaps more importantly, they can make the search much easier.
BUSINESS
February 22, 2014 | By Lauren Beale
Perhaps closing out some old business, actor Ryan Reynolds has sold a home in Hollywood Hills West for $1.405 million. The leading man bought the property in his bachelor days for $1.749 million and in recent years had leased it out at $5,200 a month. Entered through a walled and gated courtyard, the Traditional-style home has been updated with solar heating, tankless hot water and impact-resistant French doors. The 1,789 square feet of space includes open-concept living areas, two bedrooms and 2.5 bathrooms.
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