November 10, 1992 |
It's no secret that the housing market in Southern California--and most of the country--is in the doldrums. Gone are the heady days of the late-1980s, when you could buy a home or small apartment and sell it a year or two later for big profits. But today's sluggish sales, lower prices and rock-bottom mortgage interest rates are causing some investment experts to say now is a great time for patient investors to buy small rental properties.
November 1, 1992 |
Republican Assembly candidate Brad Parton and his partners owe at least $38,838 in overdue taxes and penalties on real estate properties in the South Bay, Los Angeles County records show. Parton's failure to pay the property taxes and penalties was disclosed in a campaign mailer sent late last week by his Democratic opponent, Debra Bowen, to voters in the 53rd Assembly District. The unpaid taxes were confirmed by Los Angeles County officials.
October 25, 1992 |
Q: I have a single-family home in which I lived for nine years before converting it into a rental. The house has a $50,000 mortgage on it, but is worth $200,000. I would like to refinance the mortgage and take equity out of the house. Can I still get a tax deduction on the new mortgage? What is the maximum tax-deductible mortgage allowed on a rental house? --A.G.
August 16, 1992 |
Looking to rent a lovely home with the classic picket fence and a grassy yard where your children can romp? Then look for a home with a "For Sale" sign stuck in the front lawn. Under normal circumstances, most home sellers are reluctant to consider renting. Yet, as a home lingers unsold on a market month after month, the owner's need to get financial help to carry the property can grow intense. "Some sellers become exasperated and simply need the income.
May 17, 1992 |
QUESTION: While I was out of the country the past few months, I hired a management company to handle my rental property. Shortly after my return, one of my tenants mentioned that he had been overcharged on his rent by the management property. I asked him why he had not addressed the management company with the problem, and he explained that he had, but because I am the owner, he feels I am responsible.
December 14, 1991 |
A coalition of real estate groups and their congressional supporters, hoping to capitalize on the growing clamor for economic recovery measures, is pushing for partial restoration of a controversial tax break repealed by reformers five years ago.
October 25, 1991 |
If you haven't seen "Cool as Ice," the movie starring rapper Vanilla Ice that opened last weekend, you don't have to rush to your local theater. Sometime in December, according to sources close to the film, you'll be able to rent it at your video store, on MCA/Universal Home Video. The movie has one of the shortest theater-to-video timetables ever. Movies usually don't hit video stores until about six months after their theatrical debuts.
CALIFORNIA | LOCAL
August 11, 1991
Two men were arrested on suspicion of grand theft after they bilked victims out of a $100 fee for finding them phony rental properties, Garden Grove police said Saturday. Adrian Alvarez, 20, of Montebello and Gildardo Amezcua, 29, of Rialto were arrested after 10 victims complained to police about the pair's business practices at West Coast Bureau at 11578 Trask Ave., said Sgt. Pat Thrasher.
CALIFORNIA | LOCAL
October 12, 1989
A Beverly Hills man was fined $11,560 Tuesday and banned from owning any residential rental property in Los Angeles after pleading no contest to maintaining slum conditions at an apartment building. Peter J. Berrocal, 41, and a company he controls, Mano Industries Inc., also were placed on two years' informal probation by Municipal Court Commissioner Barry Kohn, the city attorney's office said.