Jul 16th 2010 @ 1:55PM
The honeymoon is over for a Long Beach, Calif., man who was sentenced to jail time this week for defrauding investors in a real estate Ponzi scheme. Between 2003 and 2006, Jon Weldon James, 33, defrauded 50 investors, taking more than $33 million via phony investments. Instead of investing in real estate as he promised, ... Continue Reading »
Jul 14th 2010 @ 4:24PM
Empty-nesters Sharon and Ozzy Osbourne are selling their Malibu beach house. However, they seem to be waiting for the right price as the five-bedroom, five-bath 4,500-square-foot home has been on the market since 2006. It is now available for lease at $40,000 per month. Located on La Costa Beach (not as exclusive as ... Continue Reading »
Jun 24th 2010 @ 6:30PM
The owner was asking a lot, and the buyer paid plenty. The end result? The most expensive residential real estate sale in the U.S. so far this year. A 48,000-square foot, hilltop mega-mansion in Bel Air, Calif., has closed for more than $46.5 million (the previous record held by the Bootjack Ranch in Colorado). According ... Continue Reading »
Jun 4th 2010 @ 12:00PM
Real estate and mortgage fraud cases may be the latest fallout from the recent real estate bubble. Two recent California court cases demonstrate the lengths that white-collar criminals will go to in order to deceive buyers, banks and investors. In Orange County, a former real estate broker stole clients' identities, ... Continue Reading »
May 19th 2010 @ 2:00PM
One of six penthouse mega-condos at Wilshire Boulevard's The Carlyle Residences closed last week for $7.267 million. Sale of the 5,194-square-foot home made it the highest-priced condominium sale on L.A.'s famed eight-lane boulevard of high-rise residential buildings since February 2008. Built and developed by the Elad ... Continue Reading »
