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BUSINESS
February 4, 2010 | By Alejandro Lazo
Home builder Standard Pacific Corp. posted earnings of $82.7 million, or 31 cents a share, for the last three months of 2009, the Irvine company said Wednesday. In the same period the previous year, the company had a loss of $397.8 million, or $1.65 a share. The return to profitability was largely because of a $94.1-million tax break, with the company benefiting from federal tax laws that took effect in November. The residential housing market remained challenging in the quarter, however, and the company's revenue dropped 10% to $339.
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OPINION
February 19, 2013
Re "Home seekers edged out in Inland market," Feb. 17 On the one hand, it is truly heartbreaking to read that the efforts of qualified young professionals to buy homes are being thwarted by investors offering all cash, "some backed by Wall Street war chests. " On the other, it is absolutely revolting that greedy investors are so anxious to flip properties and make even more money that they are cheating the next generation of what they themselves are so lucky to enjoy: homeownership.
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BUSINESS
December 20, 2009
Designed for light Location: 295 Granada Ave., Long Beach 90803 Asking price: $1,495,000 Previously sold for: $1,121,500 in 2003 Size: Three bedrooms, three full bathrooms and two half-baths in 4,347 square feet Lot size: 6,350 square feet Additional features: Five fireplaces, DCS six-burner cooktop-oven, side-by-side Kitchen Aid refrigerator and a fully plumbed two-car garage with...
OPINION
October 9, 2010 | Patt Morrison
Maybe the name "Sonny" gives you a clue. It's the nickname Hassan Astani chose from a favored singer, Sonny Bono, a scrappy underdog if ever there was one. Astani's dream downtown condo project, Concerto, has gone dissonant. The bank backing the project failed, the FDIC stepped in and the hedge fund Starwood Capital Group won the bidding on the bank's portfolio, including Astani's nearly finished $260-million project. Starwood now shares ownership with the feds, and Astani wants control of his project back.
BUSINESS
March 5, 2010 | By Alejandro Lazo
In another sign that the U.S. housing recovery might be on a shaky foundation, the number of homes placed under sales contract fell 7.6% in January, according to a national index. The National Assn. of Realtors said Thursday that its pending home sales index, a forward-looking indicator based on contracts signed in January, fell to 90.4 from an upwardly revised 97.8 in December. That remains 12.3% higher than January 2009, when it was 80.5. The group blamed the weather for the month-over-month decline.
BUSINESS
February 3, 2010 | By Alejandro Lazo
Contracts for home purchases in December eked out a gain over the prior month, according to data out Tuesday, one sign that the U.S. housing market might muddle through in the coming months following a huge December sales plunge. The pending home sales index, a forward-looking indicator put out by the National Assn. of Realtors based on contracts signed in December, rose 1% to 96.6 from 95.6 in November. It remains 10.9% above December 2008, when it was at 87.1. Contracts signed in December will translate into sales in following months if the deals manage to successfully close escrow.
BUSINESS
November 26, 2009 | By Alejandro Lazo
The government had some good news Wednesday for the housing market: Sales of new homes were up 6.2% in October over the previous month. That makes for a seasonally adjusted annual rate of 430,000 units, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. It represented a 5.1% increase above the October 2008 estimate. Although these estimates tend to fluctuate, economists care about the pace of new-home sales because construction is an important slice of the U.S. economy.
BUSINESS
November 22, 2009 | By Stephen Glassman and Donie Vanitzian
Question: I live in a free-standing town house with no common walls and only two units in the entire association. The builder left a dangerous defect in my home. I wanted to bring a legal action against the builder and gave $7,500 to an attorney for the retainer fee. The owner of the second town house wanted to be included in the lawsuit, as he was having the same problem. My attorney prepared a retainer agreement for the other owner to pay his share of the attorney fees. The attorney also prepared documents for the homeowners association for our review and signing.
BUSINESS
April 18, 2010
Seaside style Location: 2555 Altamar Drive, Laguna Beach 92651 Asking price: $20.5 million Size: 5 bedrooms, 6 1/2 bathrooms, 10,300 square feet Lot size: 11,325 square feet Additional features: Poggenpohl-designed kitchen with dual Sub-Zero refrigerators, Dacor and Gaggenau ovens; Bang & Olufsen sound systems. Three-car garage. Around the neighborhood: In 2009, 286 single-family homes sold in the 92651 ZIP Code, according to MDA DataQuick, at median price of $1,186,000.
BUSINESS
April 11, 2010
Listing details Asking price: $3.25 million Location: 429 N. Larchmont Blvd., Los Angeles 90004 Size: Four bedrooms and 4 1/2 bathrooms in 5,350 square feet. Lot size: 6,229 square feet Additional features: Climate-controlled wine cellar, parking for four cars, swimming pool, maid's quarters Around the neighborhood: Last year, 127 single- family homes sold in the 90004 ZIP Code at a median price of $860,000, according to MDA DataQuick.
BUSINESS
March 28, 2010
Living large Location: 1700 Green Acres Drive, Beverly Hills 90210 Asking price: $9,799,000 Previously sold for: $3,485,000 in 1998 Size: 5 bedrooms and 6 1/2 bathrooms in 9,200 square feet. Lot size: 0.61 of an acre Additional features: Formal dining room with beveled glass doors, wood-paneled library, four fireplaces, maid's quarters, butler's pantry, climate-controlled wine room and three-car garage Around the neighborhood: In 2009, 212 single-family homes sold in the 90210 ZIP Code, according to MDA DataQuick, at a median price of $2,775,000.
BUSINESS
March 5, 2010 | By Alejandro Lazo
In another sign that the U.S. housing recovery might be on a shaky foundation, the number of homes placed under sales contract fell 7.6% in January, according to a national index. The National Assn. of Realtors said Thursday that its pending home sales index, a forward-looking indicator based on contracts signed in January, fell to 90.4 from an upwardly revised 97.8 in December. That remains 12.3% higher than January 2009, when it was 80.5. The group blamed the weather for the month-over-month decline.
BUSINESS
February 28, 2010
On the rocks Location: 4925 Avenida Del Sol, Joshua Tree, CA 92252 Asking price: $1.35 million Size: Two bedrooms and two bathrooms in about 1,700 square feet. Additional features: Stainless steel appliances include a Viking gas convection range and LG Lo-Energy refrigerator and double freezer; two-car insulated garage and work area. Website: www.joshuatree boulderhouse.com Contact: W. Garett Carlson, (310)
BUSINESS
February 21, 2010
Because of technical difficulties, the mortgage rates chart does not appear this week.
BUSINESS
February 12, 2010 | By Alejandro Lazo
Prices and sales of previously occupied U.S. homes improved during the last three months of last year as low interest rates and a federal tax credit helped push buyers into the market, the National Assn. of Realtors said Thursday. The median price of previously owned single-family homes rose in 67, or 44%, of the 151 metropolitan areas that participated in the group's fourth-quarter survey. Sixteen of the areas posted double-digit increases. In the third quarter, with 153 areas reporting, only 30 showed price increases and 123 were down.
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