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LA TIMES REALTY NEWS



L.A. Times - Real Estate News

Many homeowners decide remodeling is wiser than moving
They don't believe they can sell their property for what it's worth, so they're spending money on making their homes more comfortable.

Do you fit any of these descriptions?




Brad Pitt, Angelina Jolie sell Malibu house to Ellen De Generes
The talk show host pays $12 million for the 4,088-square-foot house with four bedrooms and four bathrooms. The ocean-view home sits on 1.26 bluff-top acres with beach access.

In one of the more talked-about transactions in town, actors Brad Pitt and Angelina Jolie have sold their Malibu beach house to daytime host and comedian Ellen De Generes for $12 million.




Property disclosure ranks high among real estate legal disputes
A biennial research report by the National Assn. of Realtors indicates that a handful of real estate agents and brokers and their clients either don't know the law or don't care to follow it.

When it comes to lawsuits, real estate agents and brokers tangle mostly among themselves.




Obama proposes refinancing plan for underwater homeowners
The president aims to help about 3.5 million people with good credit who are unable to refinance at historically low rates because their homes are worth less than their mortgages.

 




Homeowner wins back her house after fighting foreclosure
Karen Mena managed to get a foreclosure on her San Bernardino home rescinded. But she continues to negotiate with Bank of America over loan terms and could still lose the house.

Foreclosure commonly represents the end of a struggle. A borrower can't pay a mortgage, loses a home and moves on.




Home prices decline for a third straight month
The Standard & Poor's/Case-Shiller index of 20 large U.S. cities fell 1.3% in November from October as foreclosures continue to drag down the housing market.

Three straight months of home-price declines in the biggest U.S. cities showed that foreclosures remain a significant drag on a housing market that is entering its fifth year of deterioration.






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