Latest Top (10) News

Legal weed can raise the roof on home prices

The societal ramifications of state-legalized marijuana — a $10.4-billion industry — are being hashed out, study by study. And home values are one of the effects under scrutiny.

The link between real estate prices and weed might not be readily apparent, until one considers the en vogue vibe of...

Fri, 24 May 2019 05:30:00 PDT

Selling mom’s house may require an appraisal first

Dear Liz: My mother recently passed away. The title to her home was held in the family trust. My siblings and I are in the process of clearing out the house in preparation for a sale. Do we need to obtain a “step-up” basis appraisal before the sale to use in determining capital gain on the home?...

Sun, 12 May 2019 03:00:00 PDT

The Pitch: Best of Brentwood

In the high-caliber housing market of Los Angeles, every neighborhood has a distinct style, offering a list of pros and cons that can leave even the surest of buyers second-guessing.

Better views lead to longer commutes. Living closer to the action may mean sacrificing space.

The Pitch digs into...

Fri, 10 May 2019 06:00:00 PDT

State levies record fine against owner of upscale Santa Monica hotel

The state Coastal Commission on Wednesday levied a record $15.6-million penalty against the owner of an upscale coastal hotel in Santa Monica because the hotel was built without proper permits that include providing for more affordable lodging in the area.

The commission, at a meeting in Oxnard,...

Wed, 8 May 2019 20:45:00 PDT

Prime Beverly Hills development site sells for $130 million to New York developer

A long-vacant prime lot on Wilshire Boulevard in Beverly Hills has sold for $130 million to an international partnership that plans to build upmarket condominiums on the site.

New York luxury real estate developer Shvo bought the block-long property at 9200 Wilshire Blvd. from New Pacific Realty...

Wed, 8 May 2019 05:00:00 PDT

Tom Barrack saved Michael Jackson from default. Barrack’s investors say they need a rescue too

As the global recession deepened in 2008, Tom Barrack was in his element. Over the course of two decades, the chief executive of Los Angeles-based Colony Capital had carved out a reputation as a real estate investor who placed winning bets when others ran scared. So, at the bidding of a longtime...

Fri, 3 May 2019 07:00:00 PDT

L.A. homes near mass transit often sell for more, a study finds

Access to public transit is the new granite countertop when it comes to home listings.

That’s the takeaway from a study by real estate data firm Trulia, which looked at the language used to describe homes on the market in Los Angeles County from 2013 to 2018.

Mentions of the city’s transit almost...

Thu, 2 May 2019 06:00:00 PDT

California Inc.: Southern California home prices dip for the first time in years

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.

In the market for new digs? We learned Friday that the SoCal median home price dipped slightly...

Mon, 29 Apr 2019 05:00:00 PDT

Home prices fall in Southern California for the first time in 7 years

The Southern California median home price dipped slightly in March from a year earlier, the first annual decrease since 2012 and a sign of a remarkable downshift from the once-sizzling regional housing market.

The 0.1% drop, reported Friday by CoreLogic, means prices for the six-county region were...

Fri, 26 Apr 2019 13:30:00 PDT

How a hijacked listing for one of L.A.’s most expensive homes led to a $60-million lawsuit

It’s hard to overstate the opulence showcased in developer Bruce Makowsky’s $150-million spec house, dubbed “Billionaire.” Perched above Bel Air, the four-story mansion offers a world of pure imagination within its walls.

Jockeying for attention across 38,000 square feet are 12 bedrooms, 21 bathrooms,...

Fri, 26 Apr 2019 04:00:00 PDT