In this column we’ll go over the big real estate news of the past week. There’ll be information on celebrity purchases, the market in general, and real estate events in and around L.A. Not much has changed this week from last.
Celebrity Real Estate
Dan Aykroyd has been busy lately selling off properties in L.A. He completed the sale of his former home at 7708 Woodrow Wilson Drive in the Hollywood Hills and has listed another home at 8071 Selma Avenue, also in the Hollywood Hills.
The first home was bought by actress Beverly D’Angelo, who is probably best known for her role as Doris Vinyard in American History X. D’Angelo paid $3.8 million for the home, which has also been owned in the past by rock legends Ringo Starr and Mama Cass. It features 5 bedrooms and 5 1/2 baths and was built in 1951. D’Angelo may now sell her other home at 1819 Coldwater Canyon in Beverly Hills.
Aykroyd’s Selma Avenue property is co-owned by his brother Peter. It had been previously listed in 2002 (Aykroyd has frequently pulled his many homes on and off the market over the years). The property features a 0.4 acre lot and numerous amenities, although one might expect more than 3 bedrooms and 2 1/2 bathrooms for $2.595 million.
News
Treasury Secretary Henry Paulson rejected claims that banks required a bailout in order to work through the subprime crisis. Paulson told a CNBC interviewer that a bailout was “absolutely not” needed in a question about the U.K. government’s decision to nationalize the enormous Northern Rock lending company.
The decision by the British government to buy out Northern Rock stimulated much discussion about a similar plan in the United States. Despite the fact that Northern Rock, or any other major British banks, did not issue subprime mortgages, the country has become immensely affected by the crisis in the U.S. The move to nationalize the bank, which issued 20% of all mortgages in the U.K. last year, came under vicious criticism from conservative politicians.
Median home prices are down another $5,000 this week, to $470,000. This figure is 14.5% lower than a year ago and 2.1% lower than just one month ago.
Estate of the Week
Situated on the glamorous Tower Road - former neighbors include Katharine Hepburn, Spencer Tracy, and George Hamilton - our property of the week features 1 1/2 acres of private gardens and a lit tennis court. Set off from the pesky neighbors by high walls, the property features a 2 story house with 3 bedrooms. And that’s the guesthouse. The main house has 7 bedrooms and 7 1/2 bathrooms, but the most important thing is that there is separate parking for our staff. Those are the reasons why 1140 Tower Drive is our estate of the week.
Events
There is a Home Remodeling & Decorating Show from Friday through Sunday at the Convention Center downtown. The show will feature exhibits on pretty much everything to do with home remodeling, including the Eco-Expo feature that has debuted this year.
There is also a Home & Garden Show in San Bernardino over those same days. This show should offer many of the same things offered at the other show, so you probably just need to go to one if you are remodeling.
Dan Aykroyd photo by sheksays via Flickr
Subscribe to our RSS Feed And checkout our coffee competition to win a $30 gift voucher to your favourite coffee shop : click here
(No Ratings Yet)
Loading ...
0 responses so far ↓
Subscribe to our RSS Feed and leave a comment to enter the commentator of the week competition and win a $20 Amazon.com gift voucher.
Leave a Comment