LA Times Real Estate

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Real estate news for Los Angeles, Southern California and beyond, including Hot Property (celebrity homes), home tours, and more.
Updated: 11 hours 7 min ago

$543,500: San Diego home price breaks another record

Tue, 07/25/2017 - 17:25

San Diego County’s median home price hit another record in June with an imbalance of supply and demand continuing to push costs up, CoreLogic reported Tuesday.

The median home price reached $543,500, increasing 9.8 percent in a year and marking the third month in a row of record-breaking prices.

...

Home prices surge locally, nationally amid high demand and tight supply

Tue, 07/25/2017 - 12:55

In many corners of Southern California, home prices have hit record highs. And they keep going up.

In Los Angeles County, the median price in June jumped 7.4% from a year earlier to $569,000, surpassing the previous record set in May. To the south in Orange County, the median was up 6.1% from 2016...

U.S. home sales fell in June; shoppers couldn't find houses to buy

Mon, 07/24/2017 - 08:35

Homebuyers faced surging prices and a shrinking number of properties for sale in June — causing the pace of sales to fall.

Sales of existing homes slipped 1.8% last month to a seasonally adjusted annual rate of 5.52 million, the National Assn. of Realtors said Monday.

The decline speaks to a troubling...

San Diego's housing crisis, a family problem

Fri, 07/21/2017 - 15:10

The more I learn about our complex society, the more our problems boil down to a basic failing: We don’t love our children enough.

No, this column isn’t about cancerous public liabilities, which diminish the future wealth of our kids in large measure to finance comfy lives and cheap health care...

Mortgage broker rolls out another online way to assess what your house is worth

Thu, 07/20/2017 - 17:35

Do we really need another Zillow Zestimate-style online gizmo to tell us what a computer model says our homes are worth? Probably not.

There already are scads of real estate and mortgage websites that offer some type of automated home valuation feature, such as Redfin, Realtor.com, Chase Mortgage,...

Economy is finally back, but where's the joy?

Sun, 07/16/2017 - 06:00

They call economics the “dismal science,” and a recent midyear forecast provides a good example.

“We’re experiencing an economy that remains in expansion mode but that has some fairly serious workforce and housing imbalances which are a drag on California’s long term economic growth and health,”...

Jared Leto gets his price and more for Cahuenga Pass pad

Sat, 07/15/2017 - 06:00

The sale of Jared Leto’s Cahuenga Pass home has ended on a high note. The Oscar-winning actor and musician last month sold the property for $2.05 million, or $51,000 over the asking price.

Built in 1955, the midcentury spread was previously owned by producer-director Michael McQuarn. Jimmy Durante,...

Singer Tom Jones sells L.A.-area home and parcel next door for $11.3 million

Fri, 07/14/2017 - 11:05

The Tom Jones home sale tour has officially come to an end.

The singer-entertainer last month sold his Mediterranean-style villa and an adjacent lot in guard-gated Mulholland Estates for a combined $11.28 million, according to records obtained by The Times.

Built in 1996, the five-bedroom, seven-bathroom...

Redfin tries out 1% home listing fee for the first time in California

Fri, 07/14/2017 - 06:30

Real estate website and brokerage Redfin has launched a 1% listing fee for the first time in California, which could save home sellers hundreds of dollars in commission costs.

The reduced listing fee rolled out in San Diego in the spring. Redin has tested a 1% listing fee in other places, including...

Prop. 13 property tax reform could boost housing affordability, experts say

Thu, 07/13/2017 - 15:50

With housing inventories at a historic low, real estate leaders are proposing to amend Proposition 13 to give homeowners a tax break when they sell and thus generate more supply and reduce pressure on prices.

The change would apply to the 1978 tax-reduction measure and appear on the November 2018...

New gated enclave to rise in Malibu after $50-million land deal

Thu, 07/13/2017 - 06:30

The sale of a storied Los Feliz estate and a $50-million exchange in sunny Malibu were among L.A. County’s priciest real estate transactions in June.

$50 million — Malibu

The Crummer Estate, an undeveloped, 24-acre property on Pacific Coast Highway, sold in Malibu’s third priciest deal of the year...

Figuring out capital gains when an inherited house is sold. Spoiler: They're probably small

Sun, 07/09/2017 - 03:00

Dear Liz: I’ve have been following your responses related to the tax exemption on home sales. I understand that up to $250,000 per person of home sale profit is exempt from capital gains taxes and that married couples are entitled to exempt up to $500,000.

My spouse and her two siblings inherited...

Hot Property: Right on schedule

Sat, 07/08/2017 - 00:05

The traditionally hot summer months for housing market activity are living up to their reputation already. Homes in all price ranges are selling quickly, drawing multiple bidders and sometimes going for above their asking prices. This week we look at actors, athletes and others of note who have...

How to ditch vibe-crushers that could give potential buyers the creeps

Thu, 07/06/2017 - 06:30

Whether it’s an off-putting odor, kitschy decor or questionable artwork, a good real estate agent knows how to disappear such sale-killers for potential buyers without offending the home seller.

If professional staging isn’t an option, real estate agents are left to tell clients, delicately, how...

What $700,000 buys right now in Encino, Tarzana and Woodland Hills

Thu, 07/06/2017 - 06:00

Here’s a look at what about $700,000 buys in three San Fernando Valley housing markets.

ENCINO: This three-bedroom home, built in 1949 and since updated, features hardwood floors, a step-down family room and a kitchen that opens to the backyard.

Address: 5930 Jellico Ave., Encino, 91316

Listed...

Hot Property: Bringing the heat to the real estate beat

Sat, 07/01/2017 - 07:00

The spring homebuying season may be well in the rearview mirror, but things are heating up in Los Angeles’ hotbed of luxury real estate. In recent days, we saw one box office star score an above-asking sale and a member of sitcom royalty offer up his perch in the Bird Streets.

Once you’re done...

Look at possible conflicts of interest in Trump team's OneWest Bank probes, 2 Democrats urge

Fri, 06/30/2017 - 14:45

Two House Democrats want Congress to look into possible conflicts of interest in the Trump administration’s handling of investigations into Pasadena’s OneWest Bank — a bank formerly headed by now-Treasury Secretary Steven T. Mnuchin.

Reps. Maxine Waters (D-Los Angeles) and Al Green (D-Texas) said...

Neighborhood Spotlight: Woodland Hills is a power-shopper's mecca with outdoor delights

Fri, 06/30/2017 - 06:30

The development of the San Fernando Valley features more than its share of shady real estate speculators, above-the-law syndicates of the rich and powerful, and outright con men. But few of those rogues possessed the duplicity of the founder of the small hillside settlement that would eventually...

What $1 million buys right now in three O.C. communities

Thu, 06/29/2017 - 06:00

Here’s a look at what about $1 million buys in the Costa Mesa, Huntington Beach and Laguna Beach housing markets.

COSTA MESA: This single-story, sitting on roughly a quarter of an acre, features an updated kitchen and bathrooms, fresh paint and new carpeting.

Address: 1862 Elba Circle, Costa Mesa,...

Brand-new Sunset Strip apartments to become deluxe extended-stay hotel

Wed, 06/28/2017 - 14:40

A just-completed apartment complex on the Sunset Strip in West Hollywood has been sold to a Pennsylvania developer that plans to convert the property into a luxury extended-stay hotel.

The 190 apartments at 8500 Sunset Blvd. are part of a more than $300-million development covering two blocks on...