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Month: March 2020

“April is when the big problems kick in:” LA residential firms face reckoning

The global economy may have begun melting down in March. But for Los Angeles residential brokerages, the month was the calm before the storm. While a statewide shelter-in-place order brought about by the coronavirus pandemic suspended ...

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  • 31 Mar
  • The Real Deal
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Former LA Galaxy superstar David Beckham buys Miami pad

David Beckham and Victoria Beckham with One Thousand Museum (Credit: Anthony Harvey/Getty Images) David and Victoria Beckham paid about $24 million for a full-floor unit at the Zaha Hadid-designed One Thousand Museum condo tower in ...

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  • 31 Mar
  • The Real Deal
  • Uncategorized
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Home lending in the time of corona: “Underwriting is really difficult right now”

How do you underwrite a home mortgage when the economy is in flux and everyone is forced to stay indoors? Alan Rosenbaum, CEO and founder of GuardHill Financial Corp.; Ace Watanasuparp, senior vice president and national director of ...

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  • 31 Mar
  • The Real Deal
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Redondo Beach Power plant sale could make way for redevelopment

The AES power plant in Redondo Beach (Credit: Scott Varley/Digital First Media/Torrance Daily Breeze via Getty Images) A sale has closed that could determine the future of Redondo Beach’s surfside power plant. On Monday, power plant ...

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  • 31 Mar
  • The Real Deal
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Airbnb announces relief package. Some hosts say it’s not enough

Brian Chesky (Credit: Richard Bord/Getty Images) Once again, Airbnb is in damage control. After facing backlash from hosts for changing its cancellation policy in response to Covid-19 — offering guests full refunds without penalties — ...

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  • 31 Mar
  • The Real Deal
  • Uncategorized
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Senior housing and church complex planned in Westwood

Belmont Village CEO Patricia Will and a rendering of the Westwood project (Credit: City of Los Angeles via Urbanize) A city report offers the first look at a senior-living mid-rise development planned on Wilshire Boulevard in Westwood. ...

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  • 31 Mar
  • The Real Deal
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Ginnie Mae to use natural disaster program to help struggling mortgage servicers

Ginnie Mae principal executive vice president Seth Appleton (Credit: Wikipedia Commons; MHS) Nonbank mortgage lenders, who are bracing for a massive cash crunch as borrowers across the country seek loan forbearance because of the ...

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  • 31 Mar
  • The Real Deal
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Garcetti bans rent hikes for rent-stabilized units

Garcetti bans residential rent increases on rent-controlled units in LA(Credit:iStockphoto) Los Angeles Mayor Eric Garcetti is banning landlords of rent-stabilized units from increasing rents during the coronavirus emergency. “Until ...

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  • 30 Mar
  • The Real Deal
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EB-5 is back in the doghouse

(Credit: iStock) EB-5 was left out of Congress’ $2 trillion federal stimulus package bill, crushing developers’ hopes of getting cheap financing as real estate deals come to a halt. The federal program that allows foreign investors the ...

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  • 30 Mar
  • The Real Deal
  • Uncategorized
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“Kicking the can down the road”: Real estate industry says $2T relief plan doesn’t do enough

(Credit: iStock) For much of the real estate industry, the $2 trillion stimulus package President Trump signed into law to bolster the economy doesn’t do enough. The plan offers limited relief to real estate, industry pros said, though ...

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  • 30 Mar
  • The Real Deal
  • Uncategorized
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