Current Affairs in Real Estate

REAL ESTATE - Los Angeles Times

5/11/2019 8:00:00 PM

Dear Liz: My mother recently passed away. The title to her home was held in the family trust. My siblings and I are in the process of clearing out the house in preparation for a sale. Do we need to obtain a “step-up” basis appraisal before the sale to use in determining capital gain on the home?...

5/9/2019 11:00:00 PM

In the high-caliber housing market of Los Angeles, every neighborhood has a distinct style, offering a list of pros and cons that can leave even the surest of buyers second-guessing.

Better views lead to longer commutes. Living closer to the action may mean sacrificing space.

The Pitch digs into...

5/8/2019 1:45:00 PM

The state Coastal Commission on Wednesday levied a record $15.6-million penalty against the owner of an upscale coastal hotel in Santa Monica because the hotel was built without proper permits that include providing for more affordable lodging in the area.

The commission, at a meeting in Oxnard,...

5/7/2019 10:00:00 PM

A long-vacant prime lot on Wilshire Boulevard in Beverly Hills has sold for $130 million to an international partnership that plans to build upmarket condominiums on the site.

New York luxury real estate developer Shvo bought the block-long property at 9200 Wilshire Blvd. from New Pacific Realty...

5/3/2019 12:00:00 AM

As the global recession deepened in 2008, Tom Barrack was in his element. Over the course of two decades, the chief executive of Los Angeles-based Colony Capital had carved out a reputation as a real estate investor who placed winning bets when others ran scared. So, at the bidding of a longtime...

5/1/2019 11:00:00 PM

Access to public transit is the new granite countertop when it comes to home listings.

That’s the takeaway from a study by real estate data firm Trulia, which looked at the language used to describe homes on the market in Los Angeles County from 2013 to 2018.

Mentions of the city’s transit almost...

4/28/2019 10:00:00 PM

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.

In the market for new digs? We learned Friday that the SoCal median home price dipped slightly...

4/26/2019 6:30:00 AM

The Southern California median home price dipped slightly in March from a year earlier, the first annual decrease since 2012 and a sign of a remarkable downshift from the once-sizzling regional housing market.

The 0.1% drop, reported Friday by CoreLogic, means prices for the six-county region were...

4/25/2019 9:00:00 PM

It’s hard to overstate the opulence showcased in developer Bruce Makowsky’s $150-million spec house, dubbed “Billionaire.” Perched above Bel Air, the four-story mansion offers a world of pure imagination within its walls.

Jockeying for attention across 38,000 square feet are 12 bedrooms, 21 bathrooms,...

4/23/2019 12:30:00 AM

Sales of new U.S. homes increased 4.5% in March, the third straight monthly gain as the housing market appears to be cautiously recovering from a mortgage-rate spike last year that caused homebuying to slump.

The Commerce Department said Tuesday that new homes sold at a seasonally adjusted annual...

4/20/2019 8:00:00 PM

Dear Liz: I’m 60. Should I take a $50,000 distribution from my 401(k) to pay down my $146,000 parent Plus college loan and then try to refinance the balance with a private lender at a lower interest rate? I have $364,000 in my 401(k). I’m paying 8% interest on the parent Plus loan and planning...

4/19/2019 3:45:00 AM

U.S. new-home construction unexpectedly fell in March, decelerating to the slowest pace since May 2017 and suggesting builders remain wary even as lower mortgage rates and steady wage gains offer support to consumers.

Residential starts fell 0.3% to a 1.139-million annualized rate after a downwardly...

4/15/2019 5:35:00 AM

If you think home prices are too steep in your neighborhood, divert your eyes from the Beverly Hills Post Office area. Actress turned location scout Ronnie Mellen is asking $25 million for her 1,497-square-foot home.

That’s a cool $16,700 per square foot. For reference, the iconic Playboy Mansion...

4/11/2019 10:00:00 PM

The starter home has long served as the steppingstone into homeownership.

But lately it’s become difficult to tell first-timers from repeat home buyers, according to Zillow.

Both groups have similar preferences when it comes to square footage (2,000) and bedroom count (3), the real estate firm...

4/6/2019 10:00:00 PM

Employees of Warner Music Group Inc. for the last several weeks have been toiling in the same red brick building where men who could have been their great-grandfathers put together shiny black automobiles.

Their new workstations line the route of an assembly line built more than a century ago to...

3/30/2019 8:00:00 PM

Radha Arora, 60, is president of Rosewood Hotels & Resorts, a 10,000-employee luxury hotel chain with 26 properties in 15 countries. A Rosewood venture recently opened in Montecito: a seaside resort built by real estate magnate Rick Caruso, called Rosewood Miramar Beach. Rosewood plans to add 21...

3/27/2019 5:05:00 AM

Southern California home prices barely rose in February from a year earlier, as buyers continue to struggle with the high cost of housing, according to a report out Wednesday.

The six-county region’s median price — the point where half the homes sold for more and half for less — increased just...

3/22/2019 11:00:00 PM

It’s a wrap in the Pacific Palisades, where Dennis Quaid has sold his home for $5.9 million. That’s down about $600,000 from what the actor originally sought last summer.

Built in 1929, the home has stayed in touch with its architectural roots, offering leaded glass windows, an ivy-draped façade...

3/22/2019 1:35:00 AM

Sales of existing homes in the U.S. soared 11.8% in February, aided by accelerating wages and falling mortgage rates that are improving affordability.

The National Assn. of Realtors said Friday that existing homes sold at a seasonally adjusted annual rate of 5.51 million last month, a decisively...

3/21/2019 10:30:00 PM

More than one-third of millennial buyers say it’s very important that their new home offer some way of generating income, according to Zillow.

In Los Angeles, millennials are getting more creative as they try to grapple with the area’s high cost of living and squeeze more out of their investments,...

3/21/2019 10:30:00 PM

A cannabis entrepreneur, a former motion picture studio head and a cosmetics executive are among the latest movers and shakers in L.A. County’s residential real estate market. Here’s a look at the priciest residential home sales that closed in February.

$15.5 million — Rolling Hills

Aaron Leon,...

3/20/2019 4:50:00 AM

Canada’s housing agency will spend up to $941.1 million over three years to take equity positions in homes bought by first-time buyers, part of a plan by Justin Trudeau’s government to make housing more affordable for the youngest voters.

According to federal budget documents released Tuesday in...

3/17/2019 10:00:00 PM

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, which was marred by a plane crash and mass shooting.

The admissions scandal is getting...

3/15/2019 5:05:00 PM

Our clocks have been adjusted, spring is almost here and the bulk of the winter rains are behind us. What’s also moving ahead besides time? Try the Southern California housing market. Luxury transactions abound, including sales by a veteran actor in Pacific Palisades and by the widow of a cigar-smoking...

3/15/2019 11:10:00 AM

The new owner of Horton Plaza is embroiled in a legal tussle with a small-business owner who exited the downtown shopping center late last year — and millions are at stake.

The parties are real estate investment firm Stockdale Capital Partners and Burgerim franchise owner Irwantio, Inc. They are...