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Real estate news for Los Angeles, Southern California and beyond, including Hot Property (celebrity homes), home tours, and more.
Updated: 3 hours 48 min ago

$530,000: San Diego County home price hits new record

Wed, 06/21/2017 - 15:20

The San Diego County median home price hit $530,000 in May, breaking the nominal record set last month and increasing 8.2 percent in a year, real estate tracker CoreLogic reported Wednesday.

Lack of homes for sale and slowed home construction appear to be major forces in new peaks set over the...

L.A. County median home price breaks record set during last decade's housing boom

Wed, 06/21/2017 - 11:25

In summer 2007, the Los Angeles County median home price hit an all-time high of $550,000. It soon plunged as the housing bubble burst and the national economy crashed.

Now the median, the point where half the homes sold for more and half for less, has finally passed the heights of 10 years ago...

Hot Property: The housing market is alive and well

Sat, 06/17/2017 - 00:05

Classic comic actor Groucho Marx may be long gone, but his Hollywood Hills West estate is still around and appears to be a hot item. After only six months, the property is back up for sale at a mark-up north of 20%. Can you say: property flip?

It’s just one indication of how buoyant home sales...

HOA Homefront: Can board deny privileges if homeowners aren't paying?

Sat, 06/17/2017 - 00:00

Q:Our homeowners association reserves are extremely low and our collections are growing worse by the day. We are a gated community, with many renters. Can we deny access to the automatic transponder gate to delinquent owners/renters and require that they wait at the guarded gate for entrance? Can...

Borrowers say 'stealth' mortgage modifications by Wells Fargo could cost them their homes

Thu, 06/15/2017 - 16:05

Wells Fargo is facing allegations of a new scandal, this time involving its treatment of mortgage borrowers in bankruptcy.

Some of the borrowers allege that the bank attempted to quietly modify their mortgages so that their monthly payments would be lower — but the length of the loans would be...

Record-setting deals in Manhattan Beach and Malibu headline L.A.'s top sales in May

Thu, 06/15/2017 - 06:30

In the month of May, the most expensive homes sold in Los Angeles County included record-setting deals on the Westside and South Bay. Here’s a larger look:

$85 million — Malibu

Music and movie mogul David Geffen sold his oceanfront compound on Pacific Coast Highway for an area-record $85 million....

San Diego company offers mortgage with 1% down

Tue, 06/13/2017 - 11:45

Many San Diegans would like to own a home in the region they work in, but they often struggle with the large down payment.

Buyers are typically expected to put 20 percent down on a new home, about $105,000 based on the county’s median home price.

Gearing up for a new generation of buyers, San Diego-based...

The Internet is mauling America's malls. Is your favorite retailer closing its doors?

Tue, 06/13/2017 - 03:00

Longtime Eagle Rock resident Allenby Arakielian remembers when the little mall on Colorado Boulevard was the neighborhood hot spot for shopping and dining.

Anchored by Montgomery Ward and May Co. stores when it opened in 1973, the 58-store Eagle Rock Plaza was so popular that old-timers complained...

Why a reverse mortgage might be a good idea for some older homeowners

Sun, 06/11/2017 - 03:00

Dear Liz: I recently retired to a small house I bought 30 years ago. I refinanced four times to get the rate down from 11% to 3.5%. This provided me with a low monthly mortgage (just under $450), but my current 30-year loan won't be paid off until I'm 92. I'll be 67 in two months, and just received...

Redfin tries out 1% home listing fee in San Diego

Thu, 06/08/2017 - 14:50

Real estate website and brokerage Redfin has launched a 1 percent listing fee in San Diego that could save home sellers hundreds of dollars in commission costs.

It’s not the first time the website has rolled out the feature — or the only city — but this is its first time in California. It previously...

House votes along party lines to repeal key Dodd-Frank financial reforms

Thu, 06/08/2017 - 14:25

The House voted along party lines Thursday to repeal many of the stricter regulations enacted after the 2008 financial crisis, taking the first step in a long-held Republican desire to roll back landmark rules they complain are hurting banks, restricting consumer credit and slowing economic growth.

...

Pacific Beach landlord to keep rent low, even after sale

Wed, 06/07/2017 - 05:00

It was in the 1970s when the congregation of Christ Lutheran Church began to shrink — and it wasn’t because of a lack of faith.

Rent prices were driving out the church’s oldest members who lived on fixed incomes. So, church leadership decided to build an apartment building for seniors that would...

Former CEO of OneWest Bank is Trump's pick for key financial regulatory post

Tue, 06/06/2017 - 15:30

President Trump on Tuesday nominated Joseph Otting, the former chief executive of Pasadena’s OneWest Bank and an ally of Treasury Secretary Steven Mnuchin, to a key financial regulatory position.

The move drew fire from consumer advocates and Democrats, who pointed out that Otting would be in a...

Angelina Jolie buys the Cecil B. DeMille estate in Los Feliz

Thu, 06/01/2017 - 18:10

Actress and humanitarian Angelina Jolie has closed sale on the Cecil B. DeMille estate, a Los Feliz mansion once owned by the early filmmaker, according to real estate sources not authorized to comment on the deal. The sale price was $24.5 million.

Found behind gates in the Laughlin Park area,...

Kushner tapped program meant for job-starved areas to build a luxury skyscraper

Thu, 06/01/2017 - 12:25

Jared Kushner and his real estate partners wanted to take advantage of a federal program in 2015 that would save them millions of dollars as they built an opulent, 50-story residential tower in Jersey City, N.J.'s booming waterfront district, just across the Hudson River from Lower Manhattan.

There...

Appeals court deals setback to L.A. mortgage discrimination suits against big banks

Tue, 05/30/2017 - 18:30

Mortgage discrimination lawsuits filed by Los Angeles against Bank of America and Wells Fargo & Co. have hit a roadblock, with a federal appeals court saying the cases spurred by last decade’s housing bust lack merit.

Opinions in those two cases, released late last week by a three-judge panel of...

San Diego home prices outpaced nation, state in March

Tue, 05/30/2017 - 10:30

San Diego County’s home market showed signs of increased growth in March, outpacing price gains in other California cities and the nation, said the S&P CoreLogic Case-Shiller Indices released Tuesday.

The indices, adjusted for seasonal swings, showed San Diego County home prices rose 6.5 percent...

California Inc.: Finally getting her due, Wonder Woman comes to the big screen

Mon, 05/29/2017 - 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.

After the long holiday weekend, trading resumes Tuesday as investors place their first...

Neighborhood Spotlight: Westchester evolves into a techie utopia

Fri, 05/26/2017 - 06:30

Surrounded by bluffs, the ocean, the 405 Freeway and LAX, Westchester started out as a windswept plain in a remote corner of the Los Angeles basin.

Its evolution into the site of a vast planned community — and a center of the aviation industry — is in many ways the tale of one ambitious developer...

Could Wells Fargo's scandal boost mortgage discrimination lawsuits? L.A., other cities hope so

Thu, 05/25/2017 - 03:00

A recent Supreme Court decision that will allow mortgage discrimination cases against Wells Fargo and other banks to proceed is more than just another bad headline for the San Francisco financial giant.

As those cases progress, they represent yet another way that the bank’s practice of opening...