Los Angeles Time Real Estate News

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Real estate news for Los Angeles, Southern California and beyond, including Hot Property (celebrity homes), home tours, and more.
Updated: 2 hours 6 min ago

Prime Beverly Hills development site is sold to owners of next-door Beverly Hilton

Thu, 11/15/2018 - 19:05

A former department store site in Beverly Hills that has been slated for a $1.2-billion hotel and condominium complex is being sold to its next-door neighbors and rivals — the owners of the Beverly Hilton and Waldorf Astoria hotels.

The sale by Dalian Wanda Group, one of China's largest private...

Stocks climb, breaking five-day losing streak

Thu, 11/15/2018 - 14:30

A rebound by technology companies and banks helped reverse an early slide for U.S. stocks Thursday, breaking the market’s five-day losing streak.

Healthcare and industrial stocks also rose, offsetting losses by retailers, homebuilders, utilities and other sectors. Energy stocks also helped lift...

Using your home's equity to pay off credit card debt is a dumb move

Sun, 11/11/2018 - 03:00

Dear Liz: My ex-husband is a self-employed carpenter who just turned 64. He’s gotten a bit over his head with his credit cards. He tried for a home equity loan since he has plenty of equity and high credit scores. His mortgage lender says he doesn’t make enough money and that he needs a co-signer.

...

Hot Property: 'SNL' alum Kristen Wiig prepares for a closing act in Silver Lake

Sat, 11/10/2018 - 06:00

It’s a wrap in Silver Lake for Kristen Wiig, who is offering her revamped Midcentury Modern-style home for $5.125 million.

The Silver Lake hillside perch, named the Martin Residence for its architect, Albert P. Martin, maintains its Modernist aesthetic and original floor plan. An open-concept great...

Neighborhood Spotlight: Casino-dominated Hawaiian Gardens offers good odds on finding affordable housing

Sat, 11/10/2018 - 05:00

Belying its exotic moniker, the site that became Hawaiian Gardens was originally a marsh that local farmers called “the Delta,” according to the city's official history.

The Delta drew a steady stream of locals and passing travelers looking to water their horses at its murky pools, and in 1927...

Massive real estate scam based in Irvine bilked people out of $100 million, FTC alleges

Thu, 11/08/2018 - 10:05

The Federal Trade Commission announced Thursday that it’s looking to shut down the “largest overseas real estate investment scam” it has ever encountered: an unfinished luxury development in Belize whose owners, the agency said, bilked people out of more than $100 million.

The scheme’s perpetrators...

Stocks edge down after their post-election surge

Thu, 11/08/2018 - 07:30

U.S. stocks are taking small losses Thursday morning after a big rally the day before. Technology companies are slipping after chipmaker Qualcomm gave a disappointing revenue forecast for the current quarter, and homebuilders are down after a weak quarter. Healthcare companies are broadly higher...

Prop 10 lost, but rent control activists in San Diego say they won't quit

Wed, 11/07/2018 - 15:00

Expanded rent control in California failed with voters Tuesday, but it might be an issue that refuses to go away.

Proposition 10 sought to repeal a 1995 law, the Costa-Hawkins Rental Housing Act, that limits county and city governments’ ability to slow rent hikes. Around 38 percent of voters in...

Cluster of life science offices sell for $112 million

Tue, 11/06/2018 - 15:10

A Boston company bought a cluster of San Diego office buildings this week for $112 million, one of the biggest local real estate sales of the year.

The cluster of 12 buildings had been owned by San Diego-based Parallel Capital Partners, a real estate investment firm. The total area sold equals...

Wells Fargo says it improperly foreclosed on more borrowers than originally estimated

Tue, 11/06/2018 - 10:40

Wells Fargo & Co. acknowledged Tuesday that it failed to offer mortgage modifications to hundreds more borrowers than were due them and that many ultimately lost their homes because of the error.

The San Francisco bank reported in August that it miscalculated certain fees when determining whether...

Owning your home doesn't make you rich. Owning somebody else's does

Mon, 11/05/2018 - 17:15

In the United States more than almost anywhere else, wealth and income are concentrated among business owners and landlords. That club, blessed by capitalism, is becoming increasingly difficult to join.

Business owners and landlords tend to be about four times as wealthy as the average American....

Another Southern California home-price boom is cooling. Is a crash looming?

Sun, 11/04/2018 - 06:10

The Southern California housing market has been on a nearly seven-year tear, with prices in many communities reaching all-time highs.

But now, as mortgage rates rise, the boom appears to be fading. Sales are dropping; inventory is swelling; more sellers are scaling back their ambitious asking prices.

...

Hot Property: Chris Pratt and Anna Faris seek $5 million for marital home

Sat, 11/03/2018 - 09:35

Actors Chris Pratt and Anna Faris have listed what was their marital home for sale at $4.995 million.

The former couple extensively updated the Hollywood Hills West property during their ownership, paying attention to details both inside and outside the Mediterranean-style spread.

Built in 1979,...

Life after Hugh: Crystal Hefner designs a real estate-focused future

Fri, 11/02/2018 - 06:00

Before she became a Hefner, Crystal Harris studied psychology at San Diego State University. While there, she entered a photo contest for an invitation to the Playboy Mansion in 2008.

“I’d heard of Hugh before,” she said. “But I didn’t think he would pick me, let alone where my life would end up.”

...

Port clears way for $5M payment to regain control of San Diego convention center expansion site

Thu, 11/01/2018 - 17:25

Efforts to expand San Diego’s convention center gained ground Thursday when port commissioners took action clearing the way for a $5 million payment to the developer of a bayfront site needed for the expansion project.

While there are many more hurdles to clear, the action represents yet another...

Music producer Randy Spendlove looks to flip Sherman Oaks home with recording studio

Thu, 11/01/2018 - 11:25

Randy Spendlove, the president of Motion Picture Music at Paramount Pictures, is tuning in to the Sherman Oaks housing market. The 1920s home he bought last year is on the market for $1.899 million.

During his year of ownership, he swapped dark hardwood floors for wide-plank oak and painted tan...

San Diego home sales drop to lowest level in 11 years and price also dips

Tue, 10/30/2018 - 15:10

San Diego County home sales dropped 17.5 percent to the lowest level in 11 years for a September in the first significant sign of a slowdown in the market, real estate tracker CoreLogic reported Tuesday.

Last month, 2,942 homes sold in the county, down from 3,568 sales a year ago. It was the lowest...

Is winter coming for Southern California's housing market? Sales are falling and price cuts are more common

Tue, 10/30/2018 - 10:35

A chill is settling over the once white-hot Southern California housing market.

Listings are up. Sales are falling. Price reductions are becoming more common.

The latest evidence came Tuesday when CoreLogic released its monthly market report. Sales across the region plummeted nearly 18% in September...

California Inc.: Investors looking to see if Facebook can maintain its mojo

Mon, 10/29/2018 - 05:00

Welcome to California Inc., the weekly newsletter of the L.A. Times Business Section.

I'm Business columnist David Lazarus, and here's a rundown of upcoming stories this week and the highlights of last week.

The stock market continued its wild gyrations last week amid continued fears over rising...

1920's YMCA building downtown to become $80M luxury boutique hotel

Sat, 10/27/2018 - 06:00

Decades ago, downtown’s nearly century-old YMCA building was a wartime destination for the millions of service men and women passing through the city, but by early next year, it will be reborn as a 162-room luxury boutique hotel.

For the last three years, San Diego-based Oram Hotels has been overseeing...

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