Lawsuits question foreclosure system
A Westlake Village attorney is asking a judge to rip up a homeowner’s mortgage and strike down the legal framework the lending industry uses to foreclose on notes that have been sliced, diced and sold so many times that it’s impossible for borrowers to tell who owns them.
Read More →SLO investors band together, save historic hotel property
The Granada Hotel building in downtown San Luis Obispo has been purchasedby a group of local investors.
Read More →Deal in the works for smaller anchor at SLO’s Prefumo Creek
A deal is in the works for the 36,000-square-foot junior anchor spot at San Luis Obispo’s Prefumo Creek Commons shopping center. The San Luis Obispo Chamber of Commerce said the retailer filling that space is Dick’s Sporting Goods, a national chain. Lee & Associates Central Coast broker Clarice Clark — who represents the landlord — Read More →
Read More →Ventura real estate investor is thinking big in Texas market
Dick Fausset is partying in Texas like it’s 1999. The California real estate investor and his Ventura-based firm, Fausset Neely, recently sold a 104,500-square-foot shopping center in Amarillo, Texas, for $4.4 million — twice as much as they paid for the property in 1998. The sale follows a year of scooping up more than 300,000 Read More →
Read More →Receiver in control of Moorpark office building as case hits court
Condor Corporate Center, a 130,000-square-foot office building in Moorpark, is at the center of a lawsuit alleging the owner is in default on a $16 million loan. A Ventura County Superior Court judge appointed a temporary receiver to take charge of the property in December and will consider appointing a permanent receiver later this month. Read More →
Read More →From the ashes of the market, a sober look at avoiding disaster
The founder of a Westlake Villag mortgage lending company recently penned a book on the real estate collapse – and how to profit going forward
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