Real Estate - latimes.com

Downtown L.A. building set to go from drug den to luxury inn

By Roger Vincent, Los Angeles Times — Thu, 23 Feb 2012 00:00:00 PST

A former insurance salesman and his partners plan to transform a boarded-up apartment house they bought last year near Staples Center into a hotel with as many as 60 rooms.

A century-old brick apartment house and former drug den near Staples Center is slated to be reborn as a luxurious inn as demand for hotel rooms grows in downtown Los Angeles.

Home resales jump more than 4% in January

By Steven Goldstein — Wed, 22 Feb 2012 14:29:00 PST

Sales of previously owned homes rose 4.3% in January and inventories fell to nearly seven-year lows as lower prices, unusually warm weather and an improving economy lifted demand.

U.S. unveils new strategic plan for Fannie Mae and Freddie Mac

By Jim Puzzanghera, Los Angeles Times — Wed, 22 Feb 2012 00:00:00 PST

The Federal Housing Finance Agency recommends gradually shrinking the seized housing-finance giants and creating a new market for mortgage-backed securities.

The regulator for Fannie Mae and Freddie Mac wants to shrink the seized housing-finance giants gradually and create a new market for mortgage-backed securities to help the private sector.

Ryan Reynolds selling home he bought with Scarlett Johansson

By Lauren Beale, Los Angeles Times — Sun, 19 Feb 2012 00:00:00 PST

The actor puts the house in Los Feliz hills on the market at $3.65 million. Reynolds and Johansson were divorced last year.

Actor Ryan Reynolds has listed for sale the Los Feliz hills house he bought with his then-wife, actress Scarlett Johansson, in 2010.

Home of the Week: Steel-and-glass house in the Hollywood Hills

Sun, 19 Feb 2012 00:00:00 PST

The Michael Gantert Residence, one of the last properties designed by Case Study architect Pierre Koenig, takes full advantage of its dramatic viewpoint.

Set on a ridge in the Hollywood Hills, the Michael Gantert Residence takes full advantage of its dramatic viewpoint. The cantilevered steel-and-glass house, built in the early '80s, was one of the last designed by Case Study architect Pierre Koenig.

Builders highlight often-hidden costs of buying a foreclosed home

By Kenneth R. Harney — Sun, 19 Feb 2012 00:00:00 PST

Builders say the costs of their houses are built into the price, but fixing up a foreclosure can cost thousands of dollars extra.

Home builders are switching tactics and confronting head-on one of their biggest nemeses: foreclosed houses that not only lure buyers away with deeply discounted prices but simultaneously depress the appraisal values of newly built homes.

Recent cases shine spotlight on financial abuse of elderly

By Lew Sichelman — Sun, 19 Feb 2012 00:00:00 PST

Financial abuse of the elderly, including pushing them into reverse mortgages without their full understanding, has been perpetrated by mortgage professionals and victims' family members.

The recent conviction of a Delray Beach, Fla., loan officer for his participation in a scheme to persuade seniors to refinance their reverse mortgages should serve as a warning to the friends and relatives of elderly people about the surprising ease with which senior homeowners can be exploited.

Homes on the Market: Irvine

Sun, 19 Feb 2012 00:00:00 PST

Address: 206 Garden Gate, Irvine 92620

Can board block use of drought-tolerant plants?

By Stephen Glassman and Donie Vanitzian — Sun, 19 Feb 2012 00:00:00 PST

When directors refuse to switch to more water-efficient landscaping, saying that they like the current look and that it adds to the value of the properties, what recourse does a homeowner have?

Question: Our homeowners association has what seems to be miles of greenbelts and landscaping that is not water-efficient. Our board of directors and their friends, who constitute the majority of owners, are of the same mind-set in that they refuse to use drought-tolerant plants and do not encourage more efficient water use by association gardeners. They say they like how grass and lush vegetation make our development look rich and add to the value of our properties. They pay no attention to rising water bills. One owner told me our governing documents cannot have provisions that discourage drought-tolerant plants and curtail water usage. What if our documents don't prohibit that, but the board does it anyway?

Home sales inch up in California as prices fall

By Alejandro Lazo, Los Angeles Times — Fri, 17 Feb 2012 00:00:00 PST

California's median home price in January sinks 1.3% from a year earlier. Bay Area home sales jump sharply. Short sales and foreclosures make up more than half the market.

Home sales were up slightly in January across California, and the statewide median price fell, as investors flooded Southern California and the share of distressed home sales jumped in the Bay Area.