The mayor’s announced “Great Streets” program aims to revitalize a number of significant intersections throughout Los Angeles. The plan’s goals are to increase walkability by becoming more pedestrian oriented and encourage local economic development by bringing in an influx of new businesses. Currently, a budget of $800,000 has been assigned for this ease-of-use initiative looking …
Southern California Foreclosures Fall, Bank Repossessions Increase
May saw home foreclosures decrease in Southern California. The region consists of six counties, with last month seeing 7,363 foreclosures. This foreclosure rate is 23 percent lower than May of last year. Los Angeles County alone saw one out of every 1,107 homes enter foreclosure. The highest foreclosure rates in the Southern California region were …
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Southern California Stays on Track to Maintain More Normal Market
The latest June foreclosure numbers show lower numbers than the same month last year. RealtyTrac reports that the six counties of Southern California had 7,528 foreclosures, an eight percent decrease from foreclosure numbers during the same month last year. Year-to-year foreclosure figures continue to dip for the region, but month-to-month numbers have risen three percent …
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North Hollywood Home Sales Activity for May
A total of 81 homes sold in North Hollywood for the month of May. The median price for a home sold was $429,000. Compared to the median sale price figures of May of last year, $420,000, this new number represents a 2.14 percent year-to-year increase in sales activity for the city. There is an increase …
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Warner Center Marriott Acquired by Century City Based Laurus Corp.
The Marriot Warner Center has sold to Laurus Corp., a Century City based real estate investment and development company. This particular Marriott is one of the largest hotels in the San Fernando Valley – the building provides 474 rooms of corporate lodging space for guests. While the sale price was undisclosed, it is estimated that …
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Rates decline, and surprisingly, mortgage applications follow suit
As we continue with the aftermath of the government shutdown, one thing that seems puzzling is a decline in mortgage applications following a decline in rates. The latest figures are as follows: mortgage applications in the US saw a 0.6% drop, and home refinancing applications saw a 1% drop. It is interesting to note that …
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10 Turnaround Cities Across the U.S.
Even with mortgage rates and home prices on the rise, many U.S. cities witnessed boosts to their housing market credentials. The list of cities includes Las Vegas, Boulder, Boston, West Palm Beach-Boca Raton, Dallas, Ann Arbor, Fort Lauderdale, Reno, Santa Barbara, and Detroit. The metrics for evaluating housing market gains for these cities include: the …
SoCal’s Supply Of Low-Priced Homes Is Disappearing
The number of houses and condo sales in Southern California was “underwhelming,” says research firm DataQuick in its report for last month. Sales in six SoCal counties (LA, OC, Riverside, San Berdoo, San Diego, Ventura) were 10 percent lower than they were a year ago, and 14 percent lower than in October. (In just LA County, they …
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Home Sales in California for the month of November
Approximately 33,429 new and resale houses and condominiums were sold across all of the regions in California during the month of November, 2013. Sales of homes and condos were 8.3% higher in October, a total of 36,468. Compared to figures from November 2012, sales of homes and condos were 10.8% higher totaling 37,481 units. Overall, …
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As Prices On Homes Rise, Foreclosure Rates Fall
The end of last year saw a significant dip in foreclosures for California due to several factors including, but not limited to, an increase in home prices, people becoming more diligent with timely mortgage payments, and a steadily improving economy bolstered by new job growth. The beginning step of any foreclosure is known as a …
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