Thanksgiving Day Roundup: Headlines for Home Buyers/Sellers

November 27, 2019

 "The Dude" Jeff Bridges sold his compound (above) to Oprah

 

This CEO sees growth ahead for the Los Angeles real estate market

 

The world’s largest real estate services firm, CBRE Group Inc., has had a growth spurt since the last real estate downturn ended, posting new revenue records for eight consecutive years and finishing the third quarter with a profit of $257 million.

 

https://www.latimes.com/business/story/2019-11-25/cbre-chief-executive-robert-sulentic-real-estate

 

 

The luxury real estate market changes with the calendar

 

There’s a whole lot of price cutting going on in the multimillion-dollar home market. It’s typical for this time of year by sellers hoping to wrap up a deal before year’s end. 

 

https://www.latimes.com/business/real-estate/story/2019-11-16/hot-property-newsletter-the-luxury-real-estate-market-changes-with-the-calendar

 

 

Condo vs. House: Home-Buying Tips in an Impossible Real Estate Market Like LA

 

How condos compare to homes according to this LA realtor: For both, you'll have the same monthly mortgage, and the same property taxes. But the condo will cost you an extra $400 a month (depending on the complex) for something called HOA dues. Here's what HOA fees typically cover: Maintenance for the building, gardening, maintenance on the pool or the spa (if you have access to those), keeping the gym clean, and keeping the building clean. 

 

https://www.nbclosangeles.com/news/local/california-real-estate-los-angeles-homes-condos-prices-564816722.html?amp=y

 

 

Los Angeles Condo Sales Plunge as Chinese Capital Stays at Home

 

Chinese buyers have made about 50% of the purchases in downtown Los Angeles in recent years, said Stephen Kotler, who oversees the western region for Douglas Elliman. But tightened restrictions on capital flowing out of China have hampered the market.

 

https://www.bloomberg.com/news/articles/2019-11-22/los-angeles-condo-sales-plunge-as-chinese-capital-stays-at-home

 

 

To keep these mentally ill Angelenos housed, L.A. is looking to Sacramento for help

 

Alarmed by the shuttering of dozens of board and care homes that serve low-income people with debilitating mental illness, Los Angeles officials are stepping up their lobbying efforts to secure more funding in next year’s state budget.

 

https://www.latimes.com/california/story/2019-11-26/homeless-board-care-mental-illness-lobbying-gavin-newsom-legislature

 

 

Hot Property: The Dude abides Oprah’s offer for Montecito estate

 

Jeff Bridges didn’t have to look far to find a buyer for his compound in Montecito. The actor and his wife, Susan Geston, sold their estate to neighbor and media mogul Oprah Winfrey for $6.85 million.

 

https://www.latimes.com/business/real-estate/story/2019-11-23/hot-property-the-dude-abides-oprahs-offer-for-montecito-estate

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