Notices of default were down 12.9 percent in LA in the fourth quarter of 2011 (compared to a year earlier). LAObserved has the data, which shows "a significant decrease in foreclosure activity" all over the Southland, and notes that "The Dataquick folks aren't sure whether it's because of improving market conditions or because the alternatives to foreclosure - short sales, loan modifications and the like - are beginning to take hold." [LAObserved]
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Koreatown Craftsman With Lots of Hand-Carved Woodwork Asks $1.5M
Built in 1910, the house sits on a lush property that includes a recording studio out back.