by Greg Wasik | Oct 3, 2023 | Los Angeles Real Estate and Appraisal News
Showing the weakness in the multi-family housing market in Los Angeles, last month Winstar Properties bought the 79-unit MetWest on Sunset apartment building for $27,500,000 per The Real Deal. The property was purchased by the sellers for $38 million in April 2019...
by Greg Wasik | Mar 15, 2023 | Los Angeles Real Estate and Appraisal News
Entrepreneur and talent manager Scooter Braun, known for guiding music stars like Justin Bieber and Ariana Grande, expanded his collection of high-value properties with the acquisition of a Santa Monica office building. Braun secured the 24,000-square-foot property at...
by Greg Wasik | Feb 26, 2023 | Los Angeles Real Estate and Appraisal News
Showing that algorithmic pricing of single-family home is not yet close to being perfected (see Zillow leaving the home buying game due to Zestimates being substantially off for the homes they acquired), Opendoor reported the 2nd quarter in a row of high losses. In...
by Greg Wasik | Dec 17, 2022 | Los Angeles Real Estate and Appraisal News
The Southern California housing market is experiencing its first yearly decline in a decade. Home values have fallen after 10 years of largely uninterrupted gains, as high mortgage rates have squeezed demand and cut sales. Data released Wednesday by Zillow shows that...
by Greg Wasik | Nov 6, 2022 | Los Angeles Real Estate and Appraisal News
Opendoor Technologies writes down inventory by $573 Million, lays off 18% of their employees due to the declining real estate market related to the impact of higher interest rates leading to lower transaction volume. The company announced that they decided to drop the...
by Greg Wasik | Oct 14, 2022 | Los Angeles Real Estate and Appraisal News
Real estate appraisal and technology firm Clear Capital yesterday laid off over 25% of its current workforce due to the rapid decline of the lending market. Clear Capital provides human-written appraisals and automated valuations as well as inspection reports. The...
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