Feb. 26: Real Estate Week in Review
A list of stories from Around the Internet within the real estate industry for the week of Feb 20-26: .
The Los Angeles Times is reporting that Warrant Buffet paid $150k for a a Laguna Beach home nearly 5-decades ago and has the home listed for $11 million. He purchased the property in 1981.
The OC Register highlights why one should consider getting a real-estate license.
The Desert Sun reports that Coachella Valley home sales got a strong start in 2017, according to data from real estate research firm CoreLogic DataQuick. There were 724 sales in Coachella Valley ZIP codes recorded in January, a 10 percent rise over January 2016. Sales of existing homes and condos rose by double-digit percentages year-over-year. But sales of new homes slid 22 percent, continuing a months-long slowing in that sector. Desert homes sold for a median price of $304,000, or $174 per square foot, about a 4 percent increase year over year.
The Los Angeles Times reports that in early February, they had two home sales in which the homes went for $30 million… yes, that is no typo, we said $30 million. L.A. County has seen eight sales of $20 million or more through the first six weeks of 2017. Among them are two properties in Bel-Air that recently traded hands at $30 million or more.
Earlier this month, the UCLA News Room reported that the winter/spring 2017 Allen Matkins/UCLA Anderson Forecast Commercial Real Estate Survey, which was conducted after the November 8 election, shows no discernable economic shift in the state, despite Hillary Clinton having been the favorite among California voters. Observations from 2016 remained unchanged, and the natural cycle in commercial real estate appears to be running its course somewhat independent of the presidential contest.