This week was a light one on the real estate news front, but something is always going on. It’s a great week for real estate events. New information was gleaned that may affect the presidential campaign. These stories are more in this week’s real estate roundup.
Celebrity Real Estate
DreamWorks co-founder David Geffen has found himself a new house in Malibu. Previously owned by Hard Rock Cafe co-founder Peter Morton, Geffen’s new property is just a few houses down from the enormous compound where he primarily lives. The sale was for $9.8 million, $700K less than what Morton paid for it just last year. Geffen owned the house he just bought from 1996 to 1998, selling it for $1.5 million a decade ago.
Brett Butler, star of Grace Under Fire back in the ’90s, has listed her Hollywood Hills house for $2.347 million. Butler bought the house back in 1994, not long after her show debuted. The house is located at 7321 Woodrow Wilson Drive.
Former Grey’s Anatomy star Isaiah Washington has sold his Hancock Park condo for $1.5 million. The condo is in the faux-French Faubourg St. Denis complex on N. Sycamore Avenue.
News
A Times poll of Democratic voters in the states of Pennsylvania, Indiana, and North Carolina, all crucial in the race between Barack Obama and Hillary Clinton, shows that a majority of those surveyed favor a bailout of homeowners faced with foreclosure. This revelation may affect the candidates’ positions on bailout plans.
FBI head Robert Mueller announced that mortgage fraud has increased immensely. The FBI is currently investigating 19 lending institutions for fraud, five more than they were investigating just last month. Mueller said that the FBI has had to shift personnel to investigating mortgage fraud because the old staff could not handle the workload.
Estate of the Week
The house at 1025 Ridgedale Drive in Beverly Hills has been completely rebuilt to encompass over 14,000 square feet with 7 bedrooms and 9.5 baths. For $25.75 million, you could also get a gourmet commercial kitchen, your own private gym, and a huge backyard, which the house happens also to have.
Events
There are lots of big real estate events coming up this week.
It begins with an Architect’s Forum on Wednesday from 6 to 8 PM. At 635 N. Robertson Boulevard in North Hollywood, you will be able to ask questions and learn the motivations of the architects who designed the homes on next week’s American Institute of Architects tour. Here is the tour’s website.
The 2008 Tustin Spring Garden Tour takes place the next day from 10 AM to 3 PM. The tour covers 4 homes and more private gardens. Tickets are $25 and more information can be found here.
The city of Santa Monica is hosting an exposition of alternative building materials on Friday and Saturday. The expo is open from 10 AM to 5 PM on both days and is being held at the Santa Monica Civic Auditorium. More here.
On Saturday you will also have the option of seeing a Theodore Payne Foundation lecture on gardening with native plants. The talk is being given by Barbara Eisenstein from 10 AM to noon. Tickets are $30. Here’s the link to the event.
The San Juan Capistrano Garden Tour is also taking place on Saturday. Five different gardens will be on display. Profits from the $20 pre-sale, $25 at-the-door tickets will benefit the Capistrano Animal Rescue Effort. More information here.
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