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BUSINESS
January 27, 2010 | By Alejandro Lazo
Home prices inched up in November, a closely watched national index released Tuesday showed, but the monthly increase was so small that it shed little light on whether the U.S. housing market was headed for a full recovery or another dip. The Standard & Poor's/Case-Shiller index of home prices in 20 metropolitan areas increased 0.2% from October on a seasonally adjusted basis, with 14 cities posting gains. Compared with a year earlier, the index was down 5.3% in November, but the year-to-year rate of decline moderated in all 20 cities.
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BUSINESS
January 28, 2010 | By Robert Faturechi and Alejandro Lazo
Home builder Ryland Group Inc. posted a fourth-quarter profit Wednesday, exceeding analysts' expectations with a boost from an income tax benefit. The company reported earnings of $39 million, or 88 cents a share, compared with a loss of nearly $60 million, or $1.40, during the same period last year. That improvement comes on the heels of a $97.6-million tax benefit for the quarter. Revenue declined 21% from the same period in 2008 to $418,380. Analysts surveyed by Thomson Reuters projected an adjusted loss of 26 cents a share on revenue of $391 million.
BUSINESS
March 28, 2010 | By Stephen Glassman and Donie Vanitzian
Question: Our condo homeowners association is debating whether to buy new lighting for all the hallways, which would cost just under $200,000, or repair the existing lights at a cost of about $15,000. In each case, should funds come from operating or reserve funds? How is the decision reached as to which path to take? Answer: Operating funds are collected to meet the association's day-to-day operating expenses, including utilities, gardening and routine maintenance such as replacing lightbulbs.
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...
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
April 11, 2010 | By Stephen Glassman and Donie Vanitzian
Question: I am the new treasurer of our homeowner association board. I've discovered that during the last four years more than $100,000 has been removed from the association's reserve account to pay for things other than reserve-related items. At the last meeting I informed the board about Civil Code Section 1365.5 and made a motion to repay the $100,000 to the reserves from our operating account. None of the other board directors would second my motion. I've also learned that some board directors have been building up operating account funds for capital improvements without having a special assessment.
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.
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