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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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 …
Continue reading “Warner Center Marriott Acquired by Century City Based Laurus Corp.”
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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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 …
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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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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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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Somewhat surprisingly, sales of homes ranging from $1 million asking price or more, rose 45 percent for 2013 – the highest increase in six years for sales figures. Southern California has traditionally been a haven for luxury homebuyers. In 2013, approximately 10,602 buyers gathered funds to purchase luxury homes. Areas that typically witness luxury home …
Young-adults in their 20s and 30s are now turning to close friends and family for help in purchasing a new home. Often times, young people have many financial burdens that stand in the way of owning that first home. Significant student loans, a recession that is providing new difficulties in obtaining financially fulfilling jobs, and …
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Converting a multi-family apartment building into condominiums can potentially bring in additional annual income for property owners. If a real estate market is strong, renters could look to work towards paying off a mortgage on a property they would like to own. This way, interest can be written off and they will not be wasting …
Continue reading “The Concept of Converting Apartments to Condominiums”