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LA Times Realty News



Modern notes grace a historic pedigree
A 1926 estate in San Marino keeps its traditional look through an extensive restoration.

A stately traditional home with Spanish Colonial elements and a historic pedigree is the centerpiece of this oak-shaded estate in the hills of San Marino.




Sellers should ensure that condo projects are on approved list for FHA mortgages
Condominium owners who are trying to sell in today's agonizingly slow housing market should make sure that their community is on the Federal Housing Administration's approved list. Ditto for someone who is thinking about refinancing a condo.




Offices at the top are going empty
Penthouse floors are vacant in some of the best office buildings in Los Angeles County, a sign of the troubled economic times and the gulf between asking prices and what tenants are willing to pay.

The chief executives at Atlantic Richfield Co., the oil company once based in Los Angeles, ran their international empire from some of the most regal corporate offices ever created in Southern California.




New home sales bounce back in June
The number of newly built houses purchased nationwide jumps 23.6% from May but is 16.7% below the June 2009 level. Sales dropped 6.6% in the West but were up in the three other regions.

Sales of newly built houses in the U.S. rebounded overall in June from May's record low but still continued to drop in the West.




Mortgage defaults in California at 3-year low
The number of default notices in the second quarter falls 43.8% compared with the same period in 2009. Meanwhile, banks step up repossession of foreclosed homes.

The number of Californians entering foreclosure slid dramatically in the second quarter to a three-year low as the fallout from the worst of the housing crisis continued to abate.