L.A. Times - Real Estate News
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Pace of U.S. home resales jumps
Rate in October climbs 10.1% from the prior month, the fastest in two years, spurred by a trio of incentives.
Home buyers last month snapped up previously owned properties at the fastest pace in more than two years, a Realtors group said Monday.
Lakers reserve guard Sasha Vujacic buys W Hollywood Residences condo.
The condominium, in the $350-million development at Hollywood and Vine, has two bedrooms and 21/2 bathrooms.
Lakers reserve guard Sasha Vujacic has purchased a unit at the W Hollywood Residences.
Candy Spelling stands firm on $150-million asking price
The widow of TV producer Aaron Spelling can afford to be patient for someone to make an offer on her 56,500-square-foot Holmby Hills mansion.
Eight months ago when Candy Spelling, widow of legendary TV producer Aaron Spelling, put her 4.7-acre estate in Holmby Hills up for sale, the $150-million listing price raised more than a few eyebrows.
Old World grandeur, modern comforts
A newly built Tuscan-villa-style house in Manhattan Beach offers plenty of luxuries at just under $6 million.
Modeled after a Tuscan hillside villa, this new custom home in Manhattan Beach features an Old World exterior with a stylish modern interior of more than 8,500 square feet.
Owners' 'strategic defaults' on mortgages depend largely on how far underwater they are
Research shows that the bigger the difference between what people owe and their home's value, the more likely they are to walk away, even if they can still afford to make mortgage payments.
That some underwater owners -- whose houses are worth less than what they owe -- are walking away from their homes even though they can still afford to make their mortgage payments has been well reported, if not well documented.
FHA-insured mortgages may become more expensive and harder to get
The agency, which needs to pump up its reserves, considers raising its insurance premiums or increasing minimum down payments, among other possibilities.
For several years, the Federal Housing Administration has been the go-to financing resource for cash-strapped home buyers who can't come up with a big down payment. It has zoomed from barely a 3% market share to nearly 30% of home purchase loans. But now, FHA-insured mortgages could be on the verge of becoming more expensive and tougher to obtain.
Homes in Corona for less than $500,000
1510 San Clemente Lane, Corona 92882
One homeowner dealt with a group problem. Who pays?
Individuals must be very careful not to take on the association's responsibilities.
Question: I live in a free-standing town house with no common walls and only two units in the entire association. The builder left a dangerous defect in my home. I wanted to bring a legal action against the builder and gave $7,500 to an attorney for the retainer fee.
Foreclosures will keep rising through 2010, report says
Mortgage Bankers Assn. says delinquencies and home repossessions have hit a new high. Blaming job losses for most of the pain, it sees a continued surge in foreclosures through all of next year.
Home foreclosures are likely to keep climbing through all of next year despite stabilizing housing prices in some areas, a major lender group said Thursday as it reported that the level of delinquencies and repossessed homes had jumped to a record.
Housing starts dive 10.6% in the U.S., 8.5% in the West
Although analysts had forecast an increase in construction of new homes, the pace fell sharply compared with the prior month. The figures show a 30.7% drop compared with October 2008.
New-home construction fell sharply last month, underscoring the fragility of the fledgling housing recovery.
