Ojai
Ojai, CA · Real Estate
hoodline.com
hoodline.com
hoodline.com
Malibu Times
Financial instability exposed in Malibu mansion development
National newspaper details unraveling of project next to city’s skatepark. The development of one of the ritziest housing enclaves in the U.S., located right here in Malibu, appears to be in financial trouble according to the Wall Street Journal. The national publication specializing in financial issues and the economy published a scathing expose Oct. 30 on Scott Gillen, the developer of five multimillion-dollar homes called “The Case” located on Malibu Road, abutting the city’s new skatepark. The newspaper claims the $500 million project is on the verge of collapse amid bankruptcy filings, mounting debt, and a legal dispute with financial partners. The WSJ report questions Gillen’s management of the project, pricing strategy, and discloses a previously unknown criminal history.
Westside Current
Ocean-Damaged Malibu Properties May Qualify for Property Tax Relief
MALIBU - Beachfront property owners whose properties sustained damage from high tides and powerful ocean swells may qualify for lower property taxes. The City of Malibu is urging affected owners to consider Los Angeles County's Misfortune or Calamity reassessment program. Properties with at least $10,000 in qualifying physical damage may be eligible, and owners must submit an application within 12 months of the date the damage occurred. The assistance comes through an existing disaster relief program administered by the county assessor. In an October notice explaining the program , the county identified coastal surges among the natural disasters whose damage may qualify for relief. For eligible owners, reassessment can mean a corrected tax bill or a refund of taxes already paid. The county's property tax guidance says the adjustment reflects the reduction in property value beginning on the date of damage. The amount of relief depends on the loss in value and the period covered by the adjustment. Owners must file Form ADS-820, the application for reassessment of property damaged or destroyed by misfortune or calamity. Malibu's notice says contractor estimates or other documentation of repair costs can support the damage assessment. If approved, the reduced assessment remains in effect
Santa Monica Mirror
Westside Current
westsidetoday.com
hoodline.com
hoodline.com
Daily Mail
latination.com
California beachfront home becomes the most wanted after a wave destroys it
The unique luxury property is a beachfront home in Long Beach that captured the attention of the community and investors. The destructive waves of Tropical Storm Rachel triggered a drastic price drop to attract real estate developers. Speculators see this coastal disaster as a golden opportunity amid high construction interest...