Tatiana Melguizo and Pierre Olivier Weill bought a four-bedroom, three-bath home at 2351 Pelham Ave. in Rancho Park from Karl and Elodie Lorenz for $1.05 million on Dec. 3.

The 2,023-square-foot house was built in 1930.

Ms. Melguizo is an assistant professor at the University of Southern California Rossier School of Education and works in the field of economics of higher education.

She earned her Ph.D. in economics of education from Stanford University and an M.A. in social policy from the London School of Economics.

Mr. Weill is an assistant professor of economics at the University of California-Los Angeles. His research focuses on liquidity in financial market, real estate, and monetary economics.

He holds a Ph.D. in economics from Stanford University and an undergraduate degree from Ecole Polytechnique.

According to BlockShopper.com, there have been 66 home sales in Rancho Park during the past 12 months, with a median sales price of $760,500.

Address: 2351 Pelham Avenue
Buyer(s): Tatiana Melguizo and Pierre Olivier Weill
Seller(s): Elodie Lorenz and Karl Lorenz
Sale date: Dec. 3, 2010