| An L.A. loft for high-flying Depp
Johnny Depp has been busier than any pirate in the Caribbean, and that could be why the downtown L.A. loft he bought in the fall for close to $2 million is still vacant.
Depp bought a penthouse in the Eastern Columbia Building, an Art Deco landmark on South Broadway. The 13-story building, opened in 1930 as a retail and office tower and later used as a department store and movie backdrop, was converted into 147 residential lofts in 2006. FOR THE RECORD:
Hot Property: The Jan. 6 Real Estate column said a West Hollywood compound once owned by silent-film director Irvin Willat contained 20 detached houses on a portion of the original property. The residences are attached and occupy the entire original family compound. It also named Nichole Fox of Brower, Miller & Cole as a contact.
Dallas-Fort Worth job growth slowed last year, but it's still hot
If there's any doubt about the economic slowdown, just look at the Dallas-Fort Worth employment numbers. Early in 2007, the D-FW area was churning out new jobs at a pace of more than 95,000 a year. But by December – the most recent numbers – the local job gain had fallen to about 65,800. Even with that big falloff in job growth, the area had one of the hottest employment markets in the country last year. The economy in D-FW was even stronger than energy boomtown Houston, which had 59,800 more jobs at the end of last month than it did in December 2006, according to the Texas Workforce Commission. But the deceleration on the D-FW job market is worth worrying about. Job growth is the engine that drives the real estate industry in demand for everything from apartments to office space.
Crescent seeks buyer for Five Post Oak Park
The company said the property has had a surge in occupancy and rental rates over the past year. The majority of its tenants are in the financial services industry. "In addition to solid real estate fundamentals, the strength of the Houston economy continues to be a major draw attracting real estate investors to the city," HFF's Robert Williamson said in a statement announcing the offer. The building is owned by a joint venture between Crescent Real Estate Equities and General Electric Pension Trust. nancy.sarnoff@chron.com .
An empire from a tub of goo
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Foreclosure Rates Mean Bad News For Valley Sellers
They're also making it tougher for other sellers who were hoping to make a profit selling their home. You can usually buy foreclosed homes for less than a regular house for sale. That's good news for the buyer, but bad news for sellers trying to compete with bank prices. Eyewitness News looked at a five bedroom home in northwest Las Vegas that has never been lived in. It was supposed to be a big help for Kathy and Michael Lowry. In their eyes, buying the home was an opportunity they couldn't pass up. Michael Lowry said, "Biggest real estate boom in the history of the United States, we couldn't go wrong. We needed to send our kids through college and we thought it was a great deal." But their plan to quickly re-sell for profit was shattered.
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