Current Affairs in Real Estate

REAL ESTATE - Los Angeles Times

11/15/2018 11:05:00 AM

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...

11/15/2018 6:30:00 AM

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...

11/10/2018 7:00:00 PM

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.

...

11/9/2018 10:00:00 PM

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...

11/9/2018 9:00:00 PM

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...

11/8/2018 7:30:00 AM

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 and management, the agency alleged, bilked people out of more than $100 million.

The...

11/8/2018 6:50:00 AM

U.S. stocks slipped Thursday as oil prices’ ninth consecutive drop hurt energy companies. U.S. markets were coming off huge gains from the day before.

U.S. crude oil has slumped more than 20% since early October, meeting Wall Street's definition of a bear market.

Government fuel stockpiles have...

11/7/2018 7:00:00 AM

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...

11/6/2018 7:10:00 AM

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...

11/6/2018 6:05:00 AM

Wells Fargo & Co. acknowledged Tuesday that it failed to offer mortgage modifications to hundreds more borrowers who 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...

11/5/2018 9:15:00 AM

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....

11/3/2018 11:10:00 PM

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.

...

11/3/2018 2:35:00 AM

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,...

11/1/2018 11:00:00 PM

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.”

...

11/1/2018 10:25:00 AM

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...

11/1/2018 4:25:00 AM

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...

10/30/2018 8:10:00 AM

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...

10/30/2018 3:35:00 AM

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...

10/28/2018 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.

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

10/26/2018 11:00:00 PM

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...

10/26/2018 5:05:00 PM

Halloween is soon upon us, then Thanksgiving and December’s myriad holidays. Some sellers will simply take their homes off the market during this traditional housing market stall out, while others will lower their asking prices in the hope of closing a sale before the year’s over. This week’s roundup...

10/25/2018 8:00:00 PM

On a mid-September morning, six trucks pulled into an alleyway of Oakland’s fast-gentrifying Golden Gate neighborhood, their oversize load wrapped in white plastic sheets — each truck carrying a piece of Jeff Stone’s prefabricated home.

As the blocks were lifted by a crane and anchored in place...

10/23/2018 11:00:00 PM

In a state with a persistent housing shortage, some believe older homeowners could provide some relief.

After all, Californians 55 and older own more than half of all owner-occupied homes. According to the California Assn. of Realtors, many want out of their large single-family houses but instead...

10/19/2018 11:00:00 PM

The long game has once again paid off for the Oracle of Omaha.

Investor Warren Buffett has sold his longtime home in Laguna Beach for $7.47 million. Despite a sizable $3.1-million price chop during the sale process, that’s a hefty return for the billionaire, who paid $150,000 for the property in...

10/17/2018 7:10:00 AM

After an early slide, U.S. stocks clawed back much of the ground they lost and ended just slightly lower Wednesday. Banks climbed, but retailers, home builders and smaller companies fell.

Stocks slumped in morning trading as home builders and retailers took sharp losses after the Commerce Department...