For some families, a second home on the same lot yields perks: You can keep tabs on aging parents, and the kids can spend more time with grandma.
Their homes are too big, their friends have moved or their families are too far-flung. But those aren't the only reasons aging adults are moving into separate residences on their children's properties.
Extended families sharing a home was once an American tradition. Now with rising foreclosures and layoffs, it's a necessity. But there is a silver lining.
Donald Garcia, 35, and his wife, Augustine, were living in a Burbank apartment when Augustine's mother approached them for help. She had refinanced her three-bedroom Tujunga home a year and a half earlier with an interest-only loan, and what had been a $900 monthly house payment had doubled.
Real estate broker Leo Nordine is working his well-timed magic in selling distressed houses.
The South Bay's reigning King of Foreclosures runs around barefoot, doesn't own a cellphone and drives an 8-year-old Toyota Tundra pickup.
Three days before Christmas 2006, as chef Matt Beville was sliding a tray of pastries into the oven at work, he had no idea events were unfolding at his 1924 Burbank home that would displace him for 18 months and lead to a $209,000 whole-house remodel.
Downtown lofts, from Chinatown to the Barker Building
Three downtown lofts, priced from $527,000 to $895,000: 510 S. Hewitt St., Unit 513, Los Angeles 90013
Industry pros gather to compare scars, trade survival tips and try to have some fun.
Get thousands of real estate professionals in one place during the worst market since who-knows-when, and this is what you find: yard signs for use in selling foreclosed properties, and a bunch of guys in yellow vests handing out life preservers.
The larger-than-expected decrease signals that 2007 could be the slowest year for home builders in six decades.
Construction of new homes took a bigger-than-expected plunge in September as builders slashed production again.
The volume of home sales is expected to climb 12.5% next year, even as doubts linger about the nation's financial markets.
Home prices across the state will continue to drop next year even as sales, spurred by the low prices on properties in foreclosure, keep rising, according to a California Assn. of Realtors forecast released Wednesday.
The rescue package for the financial system includes measures designed to stem the rising tide of foreclosures. Here's a look at the specifics.
The $700-billion rescue package for the financial system includes measures designed to stem the rising tide of foreclosures. Here's a look at the specifics.
|
|
|
 |
 |
| Staci Coleman |
Telephone
(615) 250-7706 |
Mobile
(615) 424-8201 |
| Contact Staci |
 |
| |
|
