NEWS ARCHIVE


  • Wells Fargo foreclosed on 400 people who may have had a chance to keep their homes
    Wells Fargo & Co. foreclosed on 400 homeowners after improperly denying them loan modifications that could have allowed them to stay in their homes, the bank said in a regulatory filing Friday. From 2010 to 2015, amid the recovery from the housing bust that caused millions of Americans to lose... Read More
  • Wells Fargo to pay $2.09 billion to settle probe into crisis-era mortgage abuses
    Ten years after faulty mortgages upended the global financial system, Wells Fargo & Co. agreed to pay $2.09 billion to settle a U.S. investigation into its creation and sale of loans that contributed to the disaster. The long-anticipated penalty, announced Wednesday, is in line with what some analysts... Read More
  • San Diego home price increases continue to outpace nation
    San Diego County home prices in May increased 7.3 percent in a year, faster than the nationwide average, said the S&P CoreLogic Case-Shiller Indices released Tuesday. All the regions covered in the 20-city index experienced price increases, with San Diego near the top with the No.6 biggest increase... Read More
  • Explore June's home and condo sales using this map
    Median home prices by ZIP code, compared with 2016. The information, compiled by CoreLogic, is derived from official San Diego County records and includes nearly all sales. The median price is the midpoint of home values, with half being above and half being below the listed number. Darker colors... Read More
  • Neighborhood Spotlight: Bell Gardens has modest home prices but is rich in California history
    Like the rest of the Gateway Cities, Bell Gardens was once part of the vast landholdings of Don Antonio Lugo, who in 1810 received a big swath of ranch land from the king of Spain in recognition of his military service. The Californio built a sprawling network of adobe buildings to house his extended... Read More
  • Billion with a 'b': Prized Beverly Crest acreage aims for $1,000,000,000
    On a summit above Beverly Hills, a sweeping 157-acre property touted as the city’s finest undeveloped parcel is hitting the market with L.A.’s first-ever 10-figure asking price: $1 billion. It’s being branded as “The Mountain,” and fittingly so. The undeveloped acreage sits at the highest point... Read More
  • California's hotel construction sets a blistering pace
    Coming off a record-setting 2017, hotel development throughout California so far this year shows no signs of slowing, even as construction costs continue to climb. There are 182 hotels accounting for nearly 25,000 rooms under construction up and down the state — a 40% increase over the first half... Read More
  • San Diego County doubles hotel rooms under construction — 3,000
    Coming off an already record-setting 2017, hotel development throughout California so far this year shows no signs of slowing, even as construction costs continue to climb. There are currently 182 hotels accounting for more than 25,000 rooms under construction up and down the state — a 40 percent... Read More
  • Southern California median home price jumps to $536,250 as sales fall
    The Southern California median home price reached a new all-time high in June, jumping 7.3% from a year earlier. However sales plunged over the same time period, indicating sky-high housing costs could be burning out many home shoppers. The six-county median — the point where half the homes sold... Read More
  • San Diego median home price hits its highest ever: $575K
    San Diego County’s median home price hit another record in June, reaching $575,000, while sales hit their lowest point in years, real estate tracker CoreLogic reported Tuesday. The previous record was $570,000 in May. Home prices have been steadily breaking records all year, with prices increasing... Read More
  • Pushed out by high prices, these San Diegans left for greener pastures
    Nights are much quieter for San Diego native Loryanna Zalewski and her young family on the plains of southern Idaho. After years of struggling to get by in America’s Finest City, Loryanna, her husband Mike and young son left the South Bay for Burley, Idaho, population 10,464. Burley gave the couple... Read More
  • Should a soon-to-be retiree use savings to pay off the mortgage?
    Dear Liz: I am 64, single and planning to retire in two years. I have saved enough to pay off my $100,000 mortgage. It will take the bulk of my savings but I have no other debts. I will have a pension and Social Security. I also have a credit score over 800. Should I do this? Answer: Probably not.... Read More
  • It's back, dahling: Zsa Zsa Gabor’s former Bel-Air home seeks $23.5 million
    Zsa Zsa Gabor’s longtime Bel-Air estate has come on the market at $23.45 million — more than twice what it sold for a year ago, $10.45 million, public records show. The French Regency-style mansion, built in 1955, sits on a 1-acre gated hilltop with views of downtown Los Angeles, Catalina Island... Read More
  • Hot Property Newsletter: This land is your land
    Hope you studied up on your geography because this week’s collection goes from coast to coast. A filmmaker set his sights on a coastal Midcentury, a news anchor offered up his forest retreat, and in the rocky landscape of the California desert, a historic ghost town traded hands. For a master class... Read More
  • USC cancer institute funded by Larry Ellison finds home in West L.A.
    A pioneering cancer-research center funded by tech mogul Larry Ellison will launch next April in an office complex being built near a light-rail stop in West Los Angeles. The Lawrence J. Ellison Institute for Transformative Medicine of USC on Exposition Boulevard near Bundy Drive will give USC’s... Read More
  • Hot Property: Onetime Malibu home of Judy Garland sees changing of the guard
    A Malibu beach house where actress-singer Judy Garland of “The Wizard of Oz” once lived has sold in a deal completed off-market for $3.545 million. The buyers are television and documentary writer-director-producer Cynthia Harrison-Wallach and her husband, real estate investment firm head Lewis... Read More
  • Top sales: June's priciest home sales featured a supermodel, Hollywood royalty
    In June, a supermodel made the latest big splash in Malibu, an estate from Hollywood’s Golden Age closed in Toluca Lake, and the son of a former Walt Disney chief set a record in Little Holmby. Here’s a closer look at the priciest home sales to record last month in L.A. County. $45 million — Malibu... Read More
  • Hot Property Newsletter: It’s certainly not cold
    The only thing hotter than the weather of late may be the celebrity-driven real estate market. This week’s collection includes speculation about a sports superstar, a soap opera actor looking for a fairy tale ending and a race car driver speeding out of Las Vegas. Oh and we also unmasked the blogger... Read More
  • Paul Allen puts a $150-million price on storied acreage in Beverly Crest
    It’s the type of location moguls dream of: 120 acres of undeveloped land in one of L.A.’s ritziest pockets. And it’s now for sale at $150 million. Owned by billionaire and Microsoft Corp. co-founder Paul Allen, the sprawling Beverly Crest property is one of the largest undeveloped sites remaining... Read More
  • One spouse's debts might haunt the other after death
    Dear Liz: I have a terminal illness and have less than a year to live. My wife and I are in our 80s and don’t own anything: no cars, no homes. My wife has an IRA worth $140,000 that pays us $2,000 a month, and she has a small pension of $1,400 a month. We receive $3,900 from Social Security, for... Read More
  • Homebuilder and construction stocks enter bear market
    Stocks of major home construction companies fell on Wednesday, beleaguered by a slump in U.S. equity trading and a decline in homebuilder sentiment. Read More
  • Homebuilder sentiment falls to the lowest point in almost a year as affordability concerns intensify
    While sentiment is still relatively high, builders are increasingly concerned over rising home prices and material costs. Read More
  • Weekly mortgage applications drop as homebuyers drop out
    Mortgage interest rates ticked lower last week, but that wasn't enough to entice homebuyers, according to the Mortgage Bankers Association. Read More
  • Property is the only 'safe bet' for many Chinese families to invest in: Analyst
    Stock market volatility could have led to more people to invest in real estate, which explain why house prices in China have increased, says David Ji of Knight Frank. Read More
  • Guinness opens its first US brewery in 60 years
    US fans of Guinness won't have to travel to Ireland to indulge in a fresh pint: Guinness just opened a $90 million brewery in Baltimore, USA Today reports.  Read More
  • 41 million Americans live in a flood zone. Here's what you need to know about flood insurance
    Millions of Americans live in flood zones and the damage can be devastating — especially without insurance, Bankrate reports. Here' are 5 things you should know. Read More
  • NYC real estate tops new list with the most expensive per square foot rates in the US—some over $10K
    A new report from real estate firm NeighborhoodX reveals New York City is the most expensive place to buy in the country on a per square foot basis. Read More
  • Here's why affordability in U.S. housing market is at record lows
    Diana Olick analyzes a report by the National Association of Home Builders that reveals the trend of decreasing affordability in the U.S. housing market. Read More
  • Housing affordability hits weakest level in a decade
    CNBC’s Diana Olick reports on the state of housing as affordability weakens. Read More
  • Millennials are still crashing with their parents despite the strong economy
    The number of millennial homeowners has fallen sharply since 2000 — a surprising statistic given that the economy has since recovered from the great recession, Bankrate reports.  Read More
  • Why online rental scams are on the rise
    CNBC's Diana Olick reports on the increasing amount of online rental scams. Read More
  • Ready to rent a home? Beware of these new scams
    As the popularity of renting rises against buying single-family homes, so does the risk of being scammed. Read More
  • London housing sales struggle as multiple issues put off buyers
    Real estate companies have admitted that a slowdown in sales has affected their profits.  Read More
  • This company plans to open 200 mattress stores across the US, as Mattress Firm struggles
    Born online, Casper opened its first permanent store, in New York, earlier this year. Read More
  • 4 ways real estate can turbocharge your retirement income
    If you are worried your nest egg will come up short, there are a range of real estate plays that could boost your retirement income and put you over the finish line. Here is an overview of the opportunities — and some of the risks — involved. Read More
  • Weekly mortgage applications fall as home prices climb
    Soaring prices are sapping mortgage demand. In June, home prices rose 6.8 percent from a year ago, according to CoreLogic. Read More
  • HGTV buys, plans to restore 'Brady Bunch' house and Lance Bass is cool with it
    Discovery CEO David Zaslav announced the home improvement cable network was the winning bidder for the iconic house. Read More
  • 'The result is very good,' says CapitaLand CEO
    Lim Ming Yan of CapitaLand also discusses how the recent property cooling measures announced by the Singapore government could present opportunities for the group. Read More
  • Discussing the recent property cooling measures in Singapore
    Priyaranjan Kumar of Cushman & Wakefield says the recent measures announced by the Singapore government to cool the country's property market were a "surprise" in terms of their timing and severity. Read More
  • Wells Fargo accidentally foreclosed on hundreds of homeowners
    Approximately 400 Wells Fargo customers lost their homes after a software glitch denied them the ability to modify their mortgages, the San Francisco Business Times reports.  Read More
  • Zillow downgraded by Bank of America on ‘greater risk’ to profits from adding mortgage lending
    Bank of America Merrill Lynch lowers its rating to neutral from buy for Zillow shares, citing increasing concerns over its business model shift to home selling and mortgage lending. Read More
  • See inside one of Singapore's cutting-edge urban developments
    A new mixed-use development in Singapore combines urban living and natural habitats. CNBC's Uptin Saiidi explores how it could be a model for the future. Read More
  • Trump legal defense fund raised more than $200,000, spent zero on legal work: Reports
    The Patriot Legal Expense Fund Trust from the beginning of 2018 through the end of June spent more than $42,000 on "insurance" from an Alabama-based risk management company, and another $6,500 on accounting services from a large accounting firm. Read More
  • Zillow has its worst day in nearly 7 years as it moves more into home sales
    The online home sales site also reported quarterly revenue that was shy of expectations. Read More
  • Bruce Ratner deal signals decline of New York real estate families
    Many of the renowned families of New York real estate are no longer interested in staying in the business and are looking to the bond markets, The Financial Times reports.  Read More