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The home builder's stock soars 11% after an announcement that there will be no action taken as result of an investigation into the company's accounting procedures.

Shares of Los Angeles-based KB Home soared on Wednesday after the home builder said an investigation by the Securities and Exchange Commission into the company's accounting and disclosure procedures had concluded and no enforcement action would be taken.

Full article: KB Home says SEC investigation over ...

Tags: Los Angeles Times

The Standard & Poor's/Case-Shiller index shows a modest 1% gain over May figures, with prices in Los Angeles, San Diego and San Francisco increasing. However, some experts predict that the expiration of federal tax credits will have a negative effect.

A closely watched national index showed Tuesday that home prices rose in June, the last month that a federal tax credit probably boosted sales. Many experts predict a drop in values in coming months without the popular government stimulus.

Full article: Home prices rise in June, but a drop may be looming ...

Tags: Los Angeles Times

The law regards this person as a tenant, even though he is not paying rent, so proper legal procedures must be followed.

Question: About a year ago I found out that a casual friend had been laid off and become homeless. I let him move into my apartment's spare bedroom free of charge. Now I want my privacy back. I have asked him to leave, but he doesn't appear to be making any effort to do so. A real estate agent says my friend is a trespasser, since we have no rental agreement or landlord-tenant relationship. She says I can call the police to have him removed or I can change the locks on a day when he is away. I don't want to get into any trouble, so I am writing to ask what my legal rights are.

Full article: Evicting a freeloader living in a spare bedroom ...

Tags: Los Angeles Times

Question: Is a homeowner association legally responsible for the actions of any board member who has harmed any member of the association? What if the board member has moved away from the association when a lawsuit is pending against it?

Full article: Moving away won’t shield ex-association board member ...

Tags: Los Angeles Times

Renovations that reduce the number of bedrooms or bathrooms and poorly planned expansions may kill a sale in the future.

Every real estate agent has seen them: home "improvements" that turn out to be anything but, at least down the road when it comes time to sell. Instead of deal sealers, they are deal killers.

Full article: Beware of ‘improvements’ that reduce a home’s value ...

Tags: Los Angeles Times

Despite earlier reports to the contrary, it turns out that your mortgage lender will not have to pull a second full credit report on you hours before closing on your home purchase or refinancing.

Full article: Fannie Mae says lenders must verify mortgage applicants’ debt loads before closing ...

Tags: Los Angeles Times

A Santa Monica residence completed in 2008 was inspired by historic homes in Belgium. It boasts 17th century limestone floors, Belgian bluestone details, elaborate ironwork and refitted antique doors.

This 2-year-old house inspired by the historic homes of Belgium feels as if it could be sitting in the countryside rather than in a Santa Monica neighborhood just blocks from the boutiques on Montana Avenue.

Full article: New house is straight out of the Old World ...

Tags: Los Angeles Times

The number of homes in the $1-million-and-up slice of the market that have become bank owned has tripled during the last three years in Los Angeles County, and the trend has shown little sign of slowing.

Foreclosure is blind.

Full article: Foreclosures of million-dollar-plus homes on the rise ...

Tags: Los Angeles Times

Their house is a very, very, very fine house, to borrow Graham Nash's own lyrics.

Full article: Hot Property: Graham Nash is leaving Encino for Hawaii ...

Tags: Los Angeles Times

According to testimony in an SEC lawsuit, the Calabasas firm's co-founder fostered the practice of making exceptions to its lending standards.

The late "Tonight Show" announcer Ed McMahon was far from the only person to get a special mortgage thanks to Countrywide Financial Corp. co-founder Angelo Mozilo.

Full article: Countrywide’s Angelo Mozilo made exceptions for VIP mortgages, exec testifies ...

Tags: Los Angeles Times