Google’s Spruce Goose hangar features callbacks to Hughes’ Hercules plane

Once a cavernous workspace for Howard Hughes’ sprawling Hercules plane, Google’s Spruce Goose hangar is now a modern canvas for the tech company’s ambitious push into Los Angeles. But its former role as Hughes’ aviation workspace has not been forgotten in Google’s build-out the four-story structure in Playa Vista. Photos and specs released this week[…]

Why For Sale by Owner listings are fizzling

What’s been happening to that good old-fashioned American way to sell your home — doing it yourself, with minimal or no commission costs? If you believe new data from the National Association of Realtors’ Buyer/Seller survey, for-sale-by-owner transactions — popularly known as FSBOs (“Fizzbos”) — appear to be on the same trendline as buggy whips:[…]

Compass hires new Florida general manager

Alexandra Elfmont just left Engel & Völkers Miami and joined Compass Florida as director of operations. Elfmont is leading agent operations, product experts and listing and transaction teams across the state at Compass. The firm has raised $1.2 billion from investors to date and is growing aggressively by hiring agents and acquiring firms nationwide. Elfmont[…]

Fannie and Freddie programs offer options to retirees seeking home loans

It’s a common problem for retirees seeking to refinance or get a new mortgage: After their regular employment earnings stop flowing, their monthly incomes drop. They might have hundreds of thousands of dollars stored away in IRAs or 401(k) plans and other investments, but for mortgage purposes, they don’t have enough monthly income to qualify[…]

Brookfield to convert at least 100 GGP shopping malls into “mini cities”

Brookfield Property Partners plans to “future proof” a majority of General Growth Properties’ malls by turning them into mixed-use “mini cities.” Executives of the firm said on Thursday during a third quarter earnings call that it plans to redevelop at least 100 of the 125 malls in GGP’s portfolio. The company estimates that it will[…]

Former Venezuelan oil exec pleads guilty in $1B money laundering scheme

A former official with Venezuela’s state oil company PDVSA pleaded guilty on Wednesday for his role in a $1 billion money laundering scheme in which prosecutors allege some of the proceeds went into South Florida real estate. Abraham Edgardo Ortega, 51, PDVSA’s former executive director of financial planning, pleaded guilty to one count of conspiracy[…]