Luxury condo developers hope focus on high-end amenities will still draw buyers in down market. By DANIEL MILLER Los Angeles Business Journal Staff One has a picture window 40 feet long overlooking the Los Angeles Country Club. Another has kitchens described as “German-designed works of art.” A third: top-of-the-line “natural” wool carpeting – in its closets. Add features such as private elevator foyers, wine cellars and formal gardens typical of Read More ...
No one is immune to the affects of the economy on the housing market. Here are a few celebrity owned properties that have taken big price cuts. Call our office if you want to make an offer on any of these. (310) 882-5428 Courtesy of Luxist Suzanne Somers  Was: $35 million Now: $12.9 million Price Cut: $22.1 million Les Baux de Palm Springs, a bit of faux Provence tucked Read More ...
A prolonged period of tepid economic growth will negate any need for the Federal Reserve to raise rates well into the future, former central bank governor and Columbia University economics professor Frederic Mishkin told CNBC. Continued problems with banks and other areas of the economy will keep growth to a minimum for as much as three years, Mishkin said, echoing forecasts of a “new normal” from economists who don’t see Read More ...
La Jolla, CA—Southland home sales edged higher last month, bolstered by late-closing summer transactions, low mortgage rates and buyers hoping to take advantage of a soon-to-expire tax credit. The region’s median sale price remained lower than in September 2008 but, for the first time in years, several counties logged year-over-year gains in the median price paid for resale houses, a real estate information service reported. Last month 21,539 new and Read More ...
The recent upturn in house price from April to July (3.6%) is the sharpest change in direction professor Robert Shiller has ever seen. It could signal a v-shaped recovery in house prices. Or it could be the “mother of all head fakes,” as investor Whitney Tilson has described it. Robert Shiller’s recent survey of attitudes about house prices suggests it’s probably the latter. The survey also suggests that Americans are still delusional Read More ...
