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News Brief - More Condo's Please!
2006-12-02 16:11:02
Developer Unveils 172-Unit Condo PlanLOS ANGELES-The Bedford Group of Los Angeles has started development of two residential condominium towers across from the Baldwin Hills Crenshaw Plaza shopping center, near Leimert Park Village. The development comprises one tower called Bedford Parc and another called the Promenade at Baldwin Hills, with the project collectively known as Bedford/Promenade.Source - Bob Howard/Globest.com
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News Brief - Foreclosure Threat
2006-12-02 16:11:02
More Homeowners Going Into DefaultA housing market slowdown combined with rising payments on adjustable-rate loans is leading to a sharp hike in notices from lenders.The number of Californians who are significantly behind on their mortgage payments and at risk of losing their homes to foreclosure more than doubled in the three months ended Sept. 30, providing the latest evidence of trouble in the housing market, figures released Wednesday show.Source - David Streitfeld & Martin Zimmerman/LA Times
More About: News , Foreclosure , Closure , Sure , Fore

News Brief - Shares of office firm soar after IPO
2006-12-02 16:11:02
Douglas Emmett's stock jumps 12.6% on the appeal of its Westside commercial holdings.Investors drove up shares of Douglas Emmett Inc. in its first day of trading Tuesday, underscoring the desirability of Southern California commercial real estate and the company's strong position in that market, analysts said.
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News Brief - Fed holds steady but is wary of inflation
2006-12-02 16:11:02
Policymakers expect the economy to gain steam and `expand at a moderate pace.'The Federal Reserve left its benchmark short-term interest rate unchanged Wednesday at 5.25% but said economic growth was expected to pick up ? leaving open the possibility of new rate hikes. Echoing its two previous post-meeting statements, the Fed's policymaking Federal Open Market Committee acknowledged that "inflation pressures seem likely to moderate over time" because of lower oil prices and previous rate boosts.
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News Brief - Higher water rates coming in L.A.
2006-12-02 16:11:02
Council favors 2.75% increase in each of next 2 years, plans final vote next weekAfter a months-long review by neighborhood councils, the Los Angeles City Council gave preliminary approval Wednesday to raising water rates by 2.75 percent each of the next two years.
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News Brief - Hollywood Landmark Sold!
2006-12-02 16:11:02
Capitol Records Tower SoldThe Capitol Records Tower, one of Holly wood ?s most enduring landmarks, has been sold, but it also will retain its original use as an office building.
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News Brief - Work on L.A. Light-Rail Route to Begin
2006-12-02 16:11:02
The 8.5-mile Expo Line, set to open in 2010, will run from downtown Los Angeles to Culver CityAfter more than two decades in the planning, construction will begin next week on an 8.5-mile light-rail line between downtown Los Angeles and Culver City. Transit officials and Westside residents hope that the first phase of the Metro Expo Line, set to open in summer 2010, eventually will continue west to Santa Monica.
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News Brief - Data on Homes Cause Jitters
2006-12-02 16:11:02
Housing prices decline nationally for the first time since 1995 and inventory sets a record. The slump poses two big threats to the economyHome prices nationwide declined last month for the first time in more than a decade, raising new concerns about the real estate slump and the damage it might do to the rest of the economy.
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News Brief - Existing-home prices fall for 1st time in 11 ye
2006-12-02 16:11:02
Sales drop 0.5% in August to lowest pace since January 2004The collapsing U.S. housing market crossed another milestone in August, as the median sales price of existing homes fell for the first time in 11 years and for just the sixth time in the past 38 years, the National Association of Realtors said Monday.The median sales price fell 1.7% year-over-year to $225,000 in August.Sales of existing homes fell 0.5% in August to a seasonally adjusted annual rate of 6.3 million, the industry group said. It was the lowest sales pace since January 2004. Sales have fallen five months in a row. Sales are down 12.6% in the past year.Condominium-unit sales fell 3.5% to 793,000 in August. Condo sales are down 14.5% in the past year, while median prices are down 2.4%. Inventories of condos are up 75.5% in the past year to an 8.6-month supply.Source - Rex Nutting/MarketWatch.com
More About: News , Time , Home , Rice , Price

News Brief - It Takes A Billion To Make The List!
2006-12-02 16:11:02
Forbes List of Top 400 Now All BillionairesThese days, it takes a billion, at least. For the first time, Forbes magazine's list of the 400 richest Americans consists exclusively of people worth $1 billion or more. As a group, the people who made the rankings released Thursday are worth a record $1.25 trillion, compared with $1.13 trillion last year.
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News Brief - L.A. to End Faster Permits for the Favored
2006-12-02 16:11:02
Building officials are drafting standards to clamp down on a practice of expediting approvals for the politically connectedFacing criticism that city building permit officials gave special treatment to politically connected applicants, the Los Angeles Building and Safety Department announced Tuesday that it is drafting new standards to ensure that all members of the public are treated the same.
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News Brief - Houseing Starts Decline
2006-12-02 16:11:02
Housing Star t s Drop Sharply in AugustConstruction of new homes dropped a bigger-than-expected 6 percent in August, the Commerce Department reported Tuesday. The department said that builders started work on 1.665 million units at a seasonally adjusted annual rate last month. It was the fifth decline in the past six months and provided further evidence that the housing sector is slowing sharply after five record-breaking years.
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News Brief - Real estate market sinks lower
2006-12-02 16:11:02
Sales of homes down 31 percent, prices predicted to weakenThe real estate market decline deepened in September, with home sales tumbling more than 31 percent across California and in Los Angeles County with prices continuing to weaken, a trade group said Wednesday.
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