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BUSINESS
February 21, 2010
Listing details Location: 3002 Hermosa Ave., Hermosa Beach 90254 Asking price: $4.6 million Site previously sold for: $2.8 million in 2008 Size: Four bedrooms, three bathrooms and two half-baths in 3,600 square feet Additional features: Thermador appliances, parking for six vehicles, radiant floor heating, custom sound system Around the neighborhood: In 2009, 96 single-family homes...
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BUSINESS
January 20, 2010 | By Alejandro Lazo
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.
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
January 13, 2010 | By E. Scott Reckard
Government officials have subpoenaed documents from 15 lenders whose Federal Housing Administration-backed loans have high default rates, including a failed Missouri bank that was owned by an Orange County financial firm. Many of the FHA-backed loans issued by the lenders went bad almost immediately, said Kenneth M. Donohue, inspector general for the Department of Housing and Urban Development, which includes the FHA. At a news conference Tuesday, he called the action a review that was not yet an investigation.
BUSINESS
January 24, 2010 | By Scott Marshutz
After spending 20 years of decorating huge multimillion-dollar homes, interior designer Ann Fraser decided it was time to apply her design expertise to her own home. She tore down a 1950s single-level home in the Newport Heights area of Newport Beach and in its place built a two-story that looks like a centuries-old plantation-style estate. Features that give it an aged look are numerous. Iron railings enclose an expansive balcony where Mexican pavers were installed upside down to make them look older.
BUSINESS
December 18, 2009 | By Alejandro Lazo
California home prices and sales showed steady improvement during the typically slow month of November, fresh data released Thursday showed, with the San Francisco area outpacing Southern California. The state's median home price in November was $261,000, a 1.6% increase from the month before and up 1.2% from November 2008. The statewide year-over-year increase was the first since July 2007. The increase reflected an overall improvement in the housing market, with fewer foreclosures making up the total mix of homes for resale and an overall bounce back from the severely depressed prices seen in 2008, according to MDA DataQuick, a San Diego research firm that closely tracks California's housing market.
BUSINESS
January 31, 2010 | By Lew Sichelman
If you're a homeowner who was laid off recently, if you even think there's a chance your job might be eliminated, or if you are still working but having a difficult time making ends meet, the best thing you can do for yourself and your family is to determine whether you are eligible for mortgage relief. Here's how to get started: Eligibility. Familiarize yourself with the Obama administration's Making Home Affordable Program. You can read up on the program at www.makinghomeaffordable.
BUSINESS
November 25, 2009 | By Alejandro Lazo and Tiffany Hsu
U.S. home prices rose in September for the fifth month in a row, a closely watched national index showed Tuesday, but the scant improvement suggests that the nascent housing recovery may be fading after a summer's worth of steady gains. Brisk sales fueled by low interest rates, inexpensive properties and a popular tax credit for first-time buyers helped bolster home prices in the summer. Now the resiliency of that rebound is a matter of debate among economists and housing analysts.
BUSINESS
February 14, 2010 | By Kenneth R. Harney
With all the bad news about underwater homeowners and strategic walkaways, you might think that U.S. homeowners' equity holdings are continuing to slide. But a little-publicized recent statistic on real estate is that home equity is again on the rise. Is that some piece of rosy propaganda put out by housing lobbyists to stimulate more home buying? Not unless you consider Federal Reserve economists to be shills for the real estate industry. The Fed conducts massive ongoing research into mortgage balances and home-value changes in hundreds of local markets around the country, and reports its findings quarterly.
BUSINESS
December 13, 2009 | By Lew Sichelman
Sellers who don't review their listings for mistakes and omissions by their agents may find that no matter how grand their homes, they may not sell, especially in this day and age when would-be buyers scour the Internet before going to take a look. If your house is listed on Polar Lane when it is actually on Poplar, no one will find it. And problems can arise if the school district, ZIP Code, number of bedrooms or map coordinates are inaccurate. "If you are looking for a particular detail, the property is simply not going to come up," says Kimberly Barnett of @properties in Chicago, Ill. It would be wrong to say listings are riddled with errors.
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