|
|
Article: Real estate values hit new high. (Los Angeles County, CA)
- Article from:
- Los Angeles Business Journal
- Article date:
- August 10, 1998
- Author:
CopyrightCOPYRIGHT 1998 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Reflecting the area's economic turnaround, the value of assessed property in L.A. County rose 3.1 percent last year - the biggest gain since 1992 - with single-family homes posting an even stronger average increase of 7 percent.
The increase puts total property values in L.A. County above the $500 billion mark for the first time, according to figures to be released this week by county Assessor Kenneth P. Hahn.
"We have definitely turned the corner," Hahn said in an interview last week with the Business Journal.
Driving the increase, Hahn said, has been a sharp escalation in the number of properties assessed at higher values after being sold.
...