February 17, 2010 |
Simon Property Group Inc., the nation's largest mall operator, offered to buy General Growth Properties Inc. out of Chapter 11 bankruptcy protection for more than $10 billion in a deal that would give shareholders -- typically left empty-handed in bankruptcy reorganization -- $9 a share. The Indianapolis company said it sent an offer letter to acquire Chicago's General Growth on Monday but hadn't received a response. General Growth is the No. 2 U.S. mall operator and counts among its Southern California properties the Glendale Galleria, Northridge Fashion Center and Burbank Town Center.
November 22, 2009
A continent away, it seems Location: 1501 9th St., Manhattan Beach 90266 Asking price: $5,995,000 Size: Six bedrooms and 10 bathrooms in 8,549 square feet Lot size: 12,300 square feet Architect: Doug Leach Associates, Redondo Beach Builder: Gravatt Homes, Redondo Beach Additional features: Hand-distressed alder wood floors, Thermador commercial cooktop, dual ovens and dishwashers,...
January 10, 2010 |
It's nearly spring -- at least that's the case in the parallel, slightly weird universe of real estate. Traditionally, the "spring" home buying season, theoretically the busiest time in the marketplace, begins the day after the Super Bowl. Why this is so has never been clear, but it probably has something to do with finally being able to pry spouses off the couch to tour houses. This year, "spring" arrives later than usual: The big game is Feb. 7. But if you're thinking of selling, waiting to list until the bowl festivities have passed probably is a mistake in the current market, according to some experts.
January 17, 2010 |
The United States tries to take care of its warriors, a tradition that Congress has continued in little-known sections of the latest home buyer tax credit legislation and one of the government's main programs to help military owners who must sell their houses for less than what they owe. Under the Worker, Homeownership and Business Assistance Act, which was signed into law in November, military personnel and certain other federal employees serving...
January 20, 2010 |
Rock-bottom interest rates and stronger sales in higher-priced neighborhoods helped Southern California's housing market post robust gains in the typically sleepy month of December, new data show, and experts say the momentum is continuing -- ushering in an early start to the spring home-buying season. The median price paid for a Southland home rose 4% to $289,000 last month from December 2008, the first time the closely watched figure has posted a year-over-year gain since the region's real estate market took a nose dive 2 1/2 years ago, according to data released Tuesday by MDA DataQuick, a San Diego real estate research firm.
March 26, 2010 |
The Obama administration unveiled new measures Friday aimed at getting lenders to reduce the principal balances on problem mortgages and to refinance "underwater" borrowers, who owe more than their homes are worth, into government-sponsored loans. The initiatives are part of an escalating effort to buoy the housing market -- and an acknowledgment that more steps are needed to prevent a fresh wave of foreclosures. One provision will allow many unemployed homeowners to get three to six months of reduced mortgage payments while they look for a job. But the most significant change to the $75-billion program is aimed at helping underwater borrowers.
February 4, 2010 |
Led by an economic rebound in Asia, the world's largest brokerage of office buildings, warehouses and other business properties surprised Wall Street with a solid fourth-quarter profit and a slight increase in revenue. And, for the first time in two years, CB Richard Ellis discussed future earnings prospects, projecting 6% to 8% annual growth in revenue. The global economy appears to be heading toward a more "normal" operating environment, the company said. Real estate brokerages are among the first to see changes in corporate bosses' moods, analyst Craig Silvers said.
October 11, 2009 |
Question: I recently sent a letter to my board of directors, the management company and the association attorney with a complaint that there are never any open meetings, only a homeowners forum, and no agendas. I also requested to inspect the association's books and records. The board president said there was a charge to access the books and then said the association attorney would be in touch. The management company representative said I had no right to access records and books.
March 7, 2010 |
A gracious old Montecito home, familiar to viewers who regularly watched the opening credits of the late '60s television comedy series "The Ghost & Mrs. Muir," has come on the market. The house was "dressed up" a little bit for those opening shots as the haunted Gull Cottage rented by Mrs. Muir. For example, a widow's walk was added on the roof, a ship's wheel was installed on the upstairs balcony and a pair of lions guarded the top of the porch steps. Known as the Neal House, the classic Victorian home contains authentic hand-crafted details and original features.
November 20, 2009 |
Three Riverside County businessmen and four associates were criminally charged Thursday after prosecutors said they sold false investments and committed grand theft in a scheme that bilked clients of $17 million and left many broke. "The schemes . . . collected tens of millions of dollars and victimized both individual investors and financial institutions," U.S. Atty. George S. Cardona said at a news conference in Riverside. "Using storefronts across the Inland Empire and numerous phone lines assigned to their shell companies, the schemers misled banks into believing that prospective borrowers had significant assets, when in fact the schemers were engaging in a mortgage fraud shell game built on lies to both their investors and the banks."