National Association of Realtors Optimistic About 2008

The housing market is expected to stabilize during the new year, predicts the National Association of Realtors. Some economists cite slowing job growth and a weak economy as suggestions to the contrary; however, NAR chief economist Lawrence Yun believes "replacement of subprime lenders to borrowers with weak credit with government-backed loans" (www.cbsnews.com) will prompt improvement in the market.

2008 should be a fortunate year for investors, say CEO's. Lower prices make this the ideal time to purchase Real Estate as an investment.

Read more:
http://www.cbsnews.com/stories/2007/12/10/business/main3604718.shtml
http://www.forbes.com/feeds/ap/2007/12/11/ap4427948.html

Market Brings New Rules for Pricing a House

How do you price a home in this market? Pat Hiban of the Pat Hiban Real Estate Group in Ellicott City, Md., says comparables are irrelevant these days. Read More

Mark Your Holiday Calendar!

Don't miss these two very special holiday events coming soon to the One Colorado Courtyard.

One Colorado is Old Pasadena’s leading venue for programming in the arts, culture and civic activities. For a quick list of upcoming events follow the links below, or click on "More" for a comprehensive listing.
Santa Claus

Pet Night With Santa

MORE

Join Our Winning Team

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Build Wealth

"Keller Williams® Realty offers an income opportunity unparalleled in the real estate industry." - Althea Osborn

One of the values of being part of Keller Williams® involves its profit share system. It is the most significant compensation innovation in real estate history; an open-end profit-share program. This system allows any Keller Williams® associate, affiliate broker or employee the opportunity to participate in the profits they help generate without assuming any financial risks.

This program goes beyond ordinary income opportunities. Through our associate vesting program, it continues for life, even after an associate stops listing and selling real estate. It is an insightful look at what future compensation programs will be measured against.

Keller Williams® University Training

Formally established in 1996, Keller Williams® University is a tangible extension of the company's ongoing commitment to learning and growth. Since its founding in 1983, Keller Williams® Realty has strived to offer its Associates and Brokers the finest career and business training available. Its educational programs have been focused on increasing the personal productivity, sales skills and career development of its people.The most fundamental and time-tested principles of business, marketing and customer service have been blended with the latest in effective educational methods. For this reason, among others, the Keller Williams® System has rapidly expanded across the U.S. and become one of the fastest growing national real estate companies in the country.

Opportunities

Take a look at the careers available with Keller Williams®, and submit your information.

we will send it on to a Team Leader or Regional Director in your area who will contact you.
Sales Associate
Experienced or new sales associate to join our team. Our training will get you started or take you to a higher level of earnings. Only those serious about being true professionals need apply!
Owner
Are you an entrepreneur or are you interested in investing in an entrepreneurial business? Multiple opportunities are available across the United States and Canada.
Team Leader
Do you possess the leadership skills to lead one of our real estate teams? Our team leaders are the CEOs of our franchises!
Market Center Administrator
Must possess bookkeeping and accounting experience! Advance technical skills are a plus.
Administrative Assistant
This person is usually the first person clients have contact with at Keller Williams® Realty. They must be upbeat and service oriented!
Listing Specialist/Coordinator
This position is responsible for the initial contact with the client when listing a property.
Buyer Specialist
Work with Real Estate agents and their buyer leads, usually as part of a Mega Agent team.

The Keller Williams Philosophy

Our Mission: To build careers worth having, businesses worth owning and lives worth living.

Our Vision: To be the Company of choice for a new generation of real estate agents and owners.

Our Values: God, Family, then Business.

Our Goal: 500 Market Centers. 50,000 Associates. 5,000 Millionaires.

Our Belief System: Our beliefs are an essential part of who we are and how we conduct business.

The Keller Williams® Belief System is the foundation for providing the ultimate in service for our clients.

WI4C2TS Our Belief System In Action...

Win-Win. . . Or no deal

Integrity. . . Do the right thing

Commitment. . . In all things

Communication. . . Seek first to understand

Creativity. . . Ideas before results

Customers. . . Always come first

Teamwork. . . Together Everyone Achieves More

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Fed Rate Cut to Provide Some Relief to Borrowers

The Fed's December 11 0.25% rate cut to 4.25%, while a step in the right direction, is expected to have little impact on the languishing housing market. Although the move will reduce the cost of loans to borrowers, the chosen increment may not go far enough towards solving the problem. Critics argue that the Fed should have implemented at least a 0.5% rate cut, if they are to achieve the desired effect.

Irwin Kellner, chief economist for North Fork Bank and MarketWatch.com, remarked that "The chief problem is not lack of growth and it's not inflation. The problem is a freeze in the credit markets which is much more serious, and which can only be addressed by a multipronged effort, [including] sharply lowering interest rates."

Meanwhile, the stock market took a hit as a result of the rate cut.


Read more:
Multi-HousingNews.com
NewsDay.com
WashingtonPost.com

This Sunday- The 63rd NELA Holiday Parade

Hi Everyone!

Just in time to kick off the Holiday Season.

This Sunday, December 2nd The 63rd North East Los Angeles Holiday Parade. 1:00 PM.

Tal and I, along with our networking group, PeopleConnectors.org, will be in the parade. Come on down, have some fun and support your community. This is the second oldest Holiday parade in LA, second only to the Hollywood Parade! Let's make it a huge success by having a great turnout. Bring your friends and family! The parade starts at 1pm. The route is down Figueroa St. in Highland Park. It starts at Avenue 60 and goes south ending at Sycamore Park where the will be lots of festivities!

See you there! Adeline

Five good reasons to sell your home during the holidays

Contrary to popular belief, buyers shop for homes all year round, including the holiday season. In fact, sellers who put their homes on the market during the holiday season (roughly between November and January) may have an advantage because there are fewer houses on the market so there's less competition. There are several other reasons to consider putting your home on the market during the holidays:


1. Many home buyers have extra time off during the holiday season so they have more time to look for their new home.

2. Because of the limited supply of homes for sale, sellers may be able to receive a higher purchase offer than expected.

3. Buyers looking for homes during the holidays are usually highly motivated to buy before the end of the year so they can get extra itemized income-tax deductions for mortgage loan fees, interest and pro-rated property taxes.

4. Festive lights and holiday decorations can help a home "show better."

5. Because January is traditionally the month for transfers, having a home on the market at the end of the year can capture the transferees who may not be able to wait until the Spring to buy a home.

Search All MLS Listings In California!

Go to www.Cal-MLS.com to start your search today!

Pasadena Open House

Looking for an open house around Pasadena?

Below is a direct MLS link to ALL the open houses out there!

MLS Open House Link

UCLA vs Oregon 11/24/2007

Location: Rose Bowl Stadium, 1001 Rose Bowl Drive, Pasadena, CA 91103

For more info and tickets visit: UCLA Bruins Football Tickets

"Roulette Economy" Almost Over

At a recent NAR (National Association of Realtors) conference, Chief Economist Lawrence Yun asserted that the market is stablizing and that 2008 will be an oppotune year for buyers. Yun reminds us that Real Estate markets are local, and that the national snapshot has little to do with events and changes at the local level. Yun expects to see economic growth throughout 2008.

Click here to read the full article at Realtor.org.

Selling Your Home in a Buyer's Market

In recent months, we have heard a lot of alarmist news concerning the Real Estate market. Those considering or trying to sell their homes should not be discouraged, but rather look realistically at what must be done to remain competetive in this market. Here are some tips from Realty Times:

- Set your price competitively.

- Offer incentives. If your carpet is old or outdated, offer a carpet allowance up front. If a potential buyer knows this right off the bat, they might be able to overlook the unattractive carpet - probably the first thing they'll notice when they walk in the door. Or, offer to include your appliances with the home. If you're moving into a new home, appliances may already be included, or you may be ready to upgrade. This type of offer will be especially enticing to first-time buyers who are putting most - if not all - of their available cash into their down payment and closing costs.

- Offer to pay the nonrecurring closing costs - the loan appraisal, loan points, credit report, title insurance, and property inspections. This can be a major motivation to cash-strapped buyers; these costs usually run about 3 to 5 percent of the cost of the house. Depending on your market and budget situations, you may offer to pay part or all of the costs.

- Get a professional home inspection before you put your house on the market. Nothing will kill your deal quicker than a buyer's inspector finding a major problem during the inspection process. Even if you reach agreement with the buyer on who will pay how much of the repair work - or if you agree to pay all - the fact that the buyer has to wait for the repairs could put a damper on their plans, and even trigger them to break the deal, especially if there are plenty of other comparable houses on the market.

- Be flexible. When you get an offer and the buyer wants to move in sooner than you'll be ready, make plans to stay in an apartment or with relatives until your new place is ready. A month or two of inconvenience will surely be worth it down the road.

- Create good curb appeal. A home shopper's first impression is everything. The moment they pull up to the curb, they'll make an instant judgment. You'll want to be sure it's positive. You can begin by making sure leaves are raked up, and your shrubs and bushes are pruned. Make sure bikes and toys are out of sight.


- Focus on your walls. If your walls are dirty, it will be an automatic turnoff to potential buyers. Think about touching up the paint on your walls before you put your home on the market, keeping the colors neutral and light. Save your favorite reds and greens for your next place, where you'll be staying put for awhile.

- Make sure your home shows well. Get rid of all the clutter. Keep the house clean and simple. If you have a lot of knickknacks, keep them out of sight. Make sure there are no lingering pet or smoke odors. Set out some fresh flowers. Turn on some light music.

- Let the light in. Open blinds and curtains so plenty of light illuminates the home's interior.

Read the full article at RealtyTimes.com

This Saturday 7-10pm NELA art night FREE live music

NELAart Second Saturday Gallery night at Center for the Arts, Eagle Rock
Gallery Open Nov. 10th from 7-10pm with LIVE MUSIC!
Center for the Arts, Eagle Rock 2225 Colorado Blvd. Los Angeles, CA 90041

For a map of all participating galleries please visit: www.nelaart.org

Center for the Arts, Eagle Rock

email: sonja@cfaer.org
web: http://www.centerartseaglerock.org

The 63rd Annual Northeast LA Christmas Parade

Smoke-Free Housing Movement Spreading

The debate rages on as the Smoke-Free Housing movement gains momentum. Supporters maintain that tobacco smoke drifting into one's home from a neighboring unit constitutes an invasion of privacy, while opponents argue that to restrict their right to smoke in their own home is also an invasion of privacy.

Read more:

- New York Times Article
- SmokeFreeHousing.org
- Smoke-Free Environments Law Project

Pasadena Housing Market Stats 10/27 - 11/3

Market activity of single family homes in Pasadena, CA for October 27th through November 3rd, as reported in I-Tech MLS (Pasadena MLS)

Active Listings (available for sale)

Sale Pending (November 3rd)

Sold (November 3rd)

Pasadena Open House

Looking for an open house around Pasadena?

Below is a direct MLS link to ALL the open houses out there!

MLS Open House Link

stars' realtor murdered, police say

Linda Stein, a former manager of the Ramones who later became known as "the Realtor for the stars," was found beaten to death in her posh Fifth Avenue apartment, police said Thursday.

Read the full story here

UCLA vs Arizona!

Location: Rose Bowl Stadium1001 Rose Bowl Drive, Pasadena, CA 91103

For more info visit http://www.ticketsnow2.com/t.asp?id=3782&p=eventsList.aspx?e=3350

Rose Bowl Flea Market

The Rose Bowl Flea Market and Market Place is held the second Sunday of every month, rain or shine, at the World Famous Rose Bowl in Pasadena California.

Location: Rose Bowl Stadium1001 Rose Bowl DrivePasadena, CA 91103

more at http://www.rgcshows.com/RoseBowlFleaMarket/tabid/52/Default.aspx

Pasadena Cruisin - Weekly Car Show

Pasadena's FREE Weekly Old Car Show & CruiseHappening Since 1996!

When: Saturdays: 3:00 PM - 8:00 PM

Where: Annia’s Kitchen - Coffee Shop and Family Restaurant

NO forms or registration just show up....

NOTE: Only during Shine, canceled when it rains.

Pasadena new construction - Craftsman style residences

Check out the new Sophisticated and stylish Craftsman-style residences in a new Pasadena community. Call us today or go to http://www.fairoakssummit.com/ for more information

Own a piece of South Pasadena history!

We just listed this exaptional value property in South Pasadena, ca.


To check out the listing information, click here

The fresh & easy food store coming soon!

The new fresh & easy food store is coming to town! (on Eagle Rock Blvd)

Saturday Night Disco Fever!!!

HIGHLAND PARK CHAMBER PRESENTS

DISCO SATURDAY NIGHT FEVER SATURDAY,
NOVEMBER 10TH
LOCATION : LA CASA BLUE 5940 YORK BLVD
$10.00 Cover
6PM-11PM

Benefit for NELA CHRISTMAS PARADE FUNDRAISER

Featuring the music of
DJ Maxie Maxx

Highland Park

Read the latimes article about the eccentric neighborhood of Highland Park

The Bubble

By Tal Ben Zur

It is hard to remain indifferent in face of events occurring presently in the U.S. Real Estate and the Credit markets. We are seeing a string of negative reports, accompanied by comments about the “real estate bubble that popped.”
“The popped bubble” is a term widely used by the numerous specialists relative to the current state of the real estate market.
Comprehension of the term “bubble,” as it pertains to the real estate market, will not transform you overnight into specialists, yet it will certainly clarify the reasons that caused the current crisis.
Thus, a real estate bubble is a type of an economic bubble (or a financial bubble) that happens when the market value of a fiscal property (as merchandise, stock, or real estate) rises to the level significantly exceeding the objective economic value of the property. (Economic value is comprised of the future value of the property, along with the cash flow it is projected to generate for its owners.)
The bubble phenomenon is cyclical. It reoccurs every few years in different geographical locations, with variations in its extent and in the type of the property. And yet, the way it ends is almost invariable: the bubble “bursts,” and the downfall in the commodity prices causes an economic crisis (see current crisis), and the loss of financial resources for many.

One of the focal factors in the creation of the bubble is the availability of cheap credit, and the willingness of the banks to provide to questionable borrowers who would be considered unfit for such credit in regular times. In such ridiculous circumstances the investors could purchase the “bubble” property, not only with the money they had, but also with the money they did not have, as well as inflate the price of such property, etc., etc.
A vicious circle develops when the investors are able to obtain a loan against the property itself (i.e. to purchase a house for $500,000 as well as to obtain a loan in a similar amount, all while the house is serving as collateral). Such conditions propel property values higher and higher.
Another important factor in the creation of the financial bubble is human nature. A well-known trait of such bubbles is that they begin with initial price increases generated by relatively experienced investors and followed by a herd of less experienced investors attracted to the revenues advertised in the media or by word-of-mouth.
Many of such investors purchase the property intending to sell it to other investors that will follow them. At the final stage we see the last investor who is holding a property with an inordinately inflated value, and in order to unload it, he is forced to take a loss. By this stage most of the more experienced investors managed to realize large profits from their holdings, and to avoid the pitfalls.
Usually the bubble becomes transparent when the prices start falling. This is the onset of the “correction” period when the prices are coming down gradually until such time that the market stabilizes and comes to a normal and healthy condition.
The present bubble began in approximately 2001 (immediately after the dot-com bubble burst), and it is found throughout the US real estate market (or, as many believe, throughout the world) in densely populated areas and in the major cities (Los Angeles, New York, Miami). The bubble reached its peak after sharp price increases in 2005–2006, after which we have witnessed a gradual decline in real estate prices, primarily in the private sector. It should be noted that the price declines vary from one area to another and from one state to another. Some areas can boast a relative stability in housing prices.
The present real estate bubble is a regrettable result for the unfortunate combination of loans provided at ridiculous terms without the appropriate supervision and the insane drive to purchase a house. The fact that the Federal Reserve dropped the bank interest by 0.5% doesn’t really help to fix the problem—namely, the voluminous credit provided to problematic borrowers against securities (primarily single family houses) that cannot be materialized.
In the next few months we may witness the rise in interest on loans that have already been granted. In other words, these loans were given at a low interest rate, which is constantly raised over time.
This condition will lead to the increased volume of loans lost to the banks, as well as to the increased number of bank foreclosures. No one knows the extent of this problem. What we do know is that banks, along with numerous financial institutions, have collapsed under the burden of debt and foreclosed homes, while the surviving banks will do everything possible in order to get rid of the foreclosed properties—including greater flexibility as to the price of the foreclosed property relative to the potential buyer.
This is the right time to search for properties the bank wants to get rid of at any price—even at a loss. It is important to choose to work with real estate professionals, capable of identifying the true value of the property in this bubble market.

The daily media information raises one of the major questions, which will affect all of our lives in the next several years—namely, what will the landscape of the American economy be, apparently the greatest and the strongest, once the dust settles.

Tal Ben Zur is a Highland Park resident, a real-estate consultant and the owner of BZPros.com.
We welcome your emailed questions to BZPros@gmail.com or via the phone at 818 272-3399.

Halloween Party!!!

Live Music by members of the Rock Rose music family the Pretentious Pidgins, Guitarist Brandon Mayer and friends.

Awesome dance music by DJ Carlos.

There will also be food, drinks,
a Costume Contest. $5 cover

Peace...Rosamaria
Rock Rose Gallery
4108 N. Figueroa
Highland Park, 90065
(323)222-4740

Seven Selling Mistakes You Don't Want to Make!

Mistake #1 -- Pricing Your Property Too High

Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price.

Mistake #2 -- Mistaking Re-finance Appraisals for the Market Value

Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your Realtor for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value.

Mistake #3 -- Forgetting to "Showcase Your Home"

In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions and looks presentable. A poorly kept home in need of repairs will surely lower the selling price of your property and will even turn away some buyers.

Mistake #4 -- Trying to "Hard Sell" While Showing

Buying a house is always an emotional and difficult decision. As a result, you should try to allow prospective buyers to comfortably examine your property. Don't try haggling or forcefully selling. Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be receptive to questions.

Mistake #5 -- Trying to Sell to "Looky-Loos"

A prospective buyer who shows interest because of a "for sale" sign he saw may not really be interested in your property. Often buyers who do not come through a Realtor are a good 6-9 months away from buying, and they are more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet. They may still even be unsure as to whether or not they want to relocate.

Your Realtor should be able to distinguish realistic potential buyers from mere lookers. Realtors should usually find out a prospective buyer's savings, credit rating, and purchasing power in general. If your Realtor fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people. If you have to do this work yourself, consider finding a new Realtor.

Mistake #6 -- Not Knowing Your Rights & Responsibilities

It is extremely important that you are well-informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what you are responsible for before signing the contract.

Can the property be sold "as is"? How will deed restrictions and local zoning laws will affect your transaction? Not knowing the answers to these kind of questions could end up costing you a considerable amount of money.

Mistake #7 -- Limiting the Marketing and Advertising of the Property

Your Realtor should employ a wide variety of marketing techniques. Your Realtor should also be committed to selling your property; he or she should be available for every phone call from a prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so make sure that your Realtor is working on selling your home during these hours. Chances are that you have a job, too, so you may not be able to get in touch with many potential buyers.

Pasadena Market Stats 10/20 - 10/27

Market activity of single family homes in Pasadena, CA for October 6 through October 13, as reported in I-Tech MLS (Pasadena MLS)



Active Listings (available for sale)



Sale Pending (October 27)



Sold (October 27)

Pasadena Open House

Looking for an open house around Pasadena?

Below is a direct MLS link to ALL the open houses out there!

MLS Open House Link

mortgage market place update

Last Week in Review

NO PAIN...NO GAIN? While that old maxim is often the case, for the past week the Stock market's pain has been the Bond market's gain. Last week, the Dow lost around 500 points - and as money flowed out of Stocks and into Bonds, this helped home loan rates improve by .125 - .25% over the course of the week.

But if you want to revisit some real Stock market pain, just dial back the clock twenty years from last Friday. On October 20th 1987, the Stock market suffered its very largest one day loss ever, with the Dow falling 508 points and losing 22.6% of its value overall. That's like the Dow losing over 3100 points today! And just prior to that wild meltdown, 1986 and 1987 had been banner years for the Stock market - fueled by hostile takeovers, leveraged buyouts and merger mania.

The rest of the economic news for last week was a mixed bag, including lower than expected Housing Starts and Building Permits for new construction homes, and also an overall tame read on consumer inflation via the Consumer Price Index.

BUT IF YOU HAVE SOME OF YOUR OWN BUILDING PROJECTS YOU'D LIKE TO START AROUND THE HOUSE...YOU WILL BE ESPECIALLY INTERESTED IN THIS WEEK'S MORTGAGE MARKET VIEW, WHICH HELPS YOU UNDERSTAND WHAT KIND OF REMODELING PROJECTS CAN BRING THE MOST RETURN.

Forecast for the Week

While it will be interesting to see how Stocks fare next week, and if they will continue to slide lower - the week ahead also brings some potentially market moving economic reports. Existing Home Sales will be the headliner on Wednesday while Durable Goods Orders, weekly Initial Jobless Claims, and New Home Sales will arrive on Thursday. If the news of the week is very negative for the economy, Bond prices could move higher still and bring more improvement to home loan rates.

Remembering that home loan rates improve when Bond prices move higher, the chart below also shows some encouraging "floors of support", just underfoot where Bonds are trading right now, which should help them hold their current ground and perhaps even improve. But if the Stock market rallies and reverses course to move higher, this could quickly cause Bonds and home loan rates to worsen.

Coping with the Real Estate Bust

There seems to be quite a bit of "gloom and doom" talk out there regarding the current Real Estate market, it's impact on the economy and what we can expect in the coming months. I found this article very refreshing, realistic and well-balanced offering perspectives from both sides...the pessimists and the optimists. Somewhere in there is a happy middle and something closer to reality.

read full article

BINGO!! Come to PFAR's 16th Annual Bingo Benefit

PFAR's sixteenth annual Bingo Benefit to help the needy at Christmas time will be held on November 9, 2007.

Join us for a night of food, fun and great prizes!

Date: Friday, November 9, 2007

Time: 6:30 to 9:30pm

Place: Gray Hall, Oneonta Church, 1515 Garfield Ave., South Pasadena

Cost: $25/ticket

Food and refreshments will be available for purchase.

This event ALWAYS sells out, so be sure to get your tickets early.

For more information, call the Association at 626-795-2455.

Perhaps he didn't blend in...

Since summer, when he started on a 91-date world tour, shock-rocker Marilyn Manson has been gone a lot from his home in Chatsworth.

Read More.

Buyers in charge - Price reduction strategies for today’s market

Buyers now have an overwhelming advantage, given the wide selection of homes available in many markets, notes the National Association of REALTORS’®.

Looking to gain an edge in a market that has lower prices, fewer buyers and longer sales cycles? It all starts with convincing your sellers that their homes won’t sell unless they are priced for today’s market. Learn more.

friday's mortgage bonds update

Friday's Bond update:

Bonds can't get enough of the 200-day Moving Average having touched it 12 of the past 16 trading days. So while prices are modestly lower, they are still hovering near this important Moving Average.


The Producer Price Index (PPI), which measures inflation at the wholesale or producer level, popped 1.1% higher during September – much higher than the 0.5% consensus estimate. Increases in food and energy prices were primarily responsible for the surprising surge in producer inflation. Food prices jumped by 1.5% while energy prices surged by 4.1% during the month. However, when factoring out these volatile categories, the Core PPI increased by a lower than estimated and rather tame 0.1%. On a year over year basis, the headline PPI was reported at 4.4%, which was very hot and double last month's reading - hence, this news pressured Bonds slightly lower. Even though the year over year Core PPI rate came in at a lean 2.0%, the hot headline number has sparked chatter in the pits about the threat of inflation. And as we all know Bonds hate inflation.

Fed Fund Futures traders may be thinking that inflation is indeed a threat as well as they are now pricing the chance of a .25% cut on Oct 31st at less than 50%. Next week's CPI will be an important reading as we approach the next Fed Meeting. Should this number be reported above expectations, it is likely that a Fed cut in October will be off the table.

Retail Sales for September was reported at 0.6%, which was higher than expectations of 0.2%. New vehicle sales led the way with a 1.2% gain. However, when excluding the effect of auto sales, retail sales increased by 0.4%, which was just above expectation of 0.3%. The positive economic news also applied modest selling pressure to Bonds this morning.

The University of Michigan’s Consumer Sentiment for October was reported at 82.0 which was lower than expectations of 84.0. Bond prices had little reaction to the news.

Bonds continue to move in a sideways pattern bouncing back and forth above the 200-day Moving Average, while remaining above a good floor of support at the 50-day Moving Average, presently at $99.95 and the $99.88 level. Stocks have been on a nice run of late and they could be tiring. If this is the case and Stocks move lower, Mortgage Bonds may benefit. For now, we will continue to float, but cautiously, as prices remain above a layer of support.

Pasadena Market Stats 10/6 - 10/13

Market activity of single family homes in Pasadena, CA for October 6 through October 13, as reported in I-Tech MLS (Pasadena MLS)



Active Listings (available for sale)



Sale Pending (October 13)



Sold (October 13)

Pasadena Open House

Looking for an open house around Pasadena?

Below is a direct MLS link to ALL the open houses out there!

MLS Open House Link

Four Ways to Fend Off Foreclosure

Many folks out there are facing potential foreclosure, perpaps some have already missed a payment or two. Don't panic and yet don't delay either. This article from the Wall Street Journal has some great information on how to get back on track.

Read full article

Seller's may face "sticker" shock

The market has shifted, more so in some areas of the nation than others. Here are some "face the facts" from Key West, Florida. I don't believe the LA market is quite like Key West's, but there is some good food for thought in this article. Read full article

UCLA vs California

When: 10/20/2007

Where: Rose Bowl Stadium1001 Rose Bowl Drive, Pasadena, CA 91103

Get Tickets Here

Rose Bowl Flea Market

The Rose Bowl Flea Market and Market Place is held the second Sunday of every month, rain or shine, at the World Famous Rose Bowl in Pasadena California.

When: Sunday October 14, 2007

Location: Rose Bowl Stadium1001 Rose Bowl DrivePasadena, CA 91103

More details here

Pasadena Cruisin - Weekly Car Show

Pasadena's FREE Weekly Old Car Show & CruiseHappening Since 1996!

AT A GREAT NEW LOCATION !

Because as of the Sears & Fuddrucker’s Shopping Complex began redevelopment.

Saturdays: 3:00 PM - 8:00 PM Annia’s Kitchen - Coffee Shop and Family Restaurant

NO forms or registration just show up....

NOTE: Only during Shine, canceled when it rains.

LA County Median Home Price Rises

LA County median home prices rose 2.6% while nearby counties declined according to this LA Times article. Some see a troubled market ahead...some see opportunity.


Read article

The 63rd Annual Northeast Los Angeles CHRISTMAS PARADE!

The 63rd Annual Northeast Los Angeles CHRISTMAS PARADE & WinterFest!

December 2, 2007 @ 1 p.m.

Presented by The Highland Park Chamber of Commerce & The North Figueroa Association

GUEST BOOK :

available for Volunteer Sign Up!

Now Accepting:Entries!Sponsors!Volunteers!

EVENT WISH LIST!

Musicians

Singers

Set Designers

Costume Designers

Building & Paint materials

Journalist

Publicists/Marketers

Photographer

Videographer

Webmaster!

Please contact us for more info!

Owner fears foreclosure might have chain reaction

By Robert J. Bruss, Inman News September 30, 2007

Question: I own two properties. If the bank forecloses on one, will it affect my other property or my principal residence?

Answer: If you lose any property by foreclosure, your credit will be ruined. Mortgage lenders don't like to see a foreclosure on your credit reports.

However, unless you have a blanket mortgage on all of your properties (which is very rare), loss of one property by foreclosure won't affect your other properties.

Power lines thwart plans for poolQuestion: I want to install a swimming pool in my backyard, but there are electric power lines above the area and a power pole on my property. Can I sue the electric company because I cannot build my pool due to their encroachment?

Answer:When you purchased your home, you were obviously aware of the overhead electric power lines and the easement (not encroachment) over your property. The power company is not liable to you for damages, nor can you force the removal of the wires that are involved in the easement.

However, you could offer to pay the power company to move their wires.

What's deductible on rental house Question: I bought the house next door to rent out. My mortgage is $641 a month, plus an escrow account for the property taxes. I am getting $600 per month rent.

Can I show this as a loss on my income tax returns? My closing costs were about $7,000. Are they tax-deductible? What about the mortgage payments while I was remodeling?

Answer:Your rental income is reported on Schedule E of your income-tax returns. This is the same place you deduct mortgage interest (but not principal) payments and the property taxes paid to the tax collector.

You can also deduct other applicable expenses, such as repairs, insurance and depreciation (a noncash expense for estimated wear, tear and obsolescence).If your annual gross income is less than $100,000, you can deduct up to $25,000 of passive losses from your rental property.As for your closing costs when you bought the rental house, you may be able to deduct some expenses, such as prorated property taxes and mortgage interest.

But other closing costs, such as title insurance and recording fees, are not deductible and must be capitalized as part of your purchase-price cost basis.

It's a sad fact, but a deal's a dealQuestion: A friend of mine signed a contract to buy a house. She put $500 down and had a professional home inspection done. Her mother was battling cancer and died.

My friend backed out of buying the house. Now the seller and his agent are threatening to sue her for not buying. Can they do this?

Answer:Yes. When you sign a contract to buy real estate, that agreement is binding on both the seller and buyer. If the seller had changed his mind about selling, your buyer friend could have sued for specific performance of the sales contract to force the seller to deliver the deed.But a seller is unlikely to sue a buyer for specific performance to force the sale.

Instead, the seller might sue the defaulting buyer for breach-of-contract damages, namely the monetary loss the seller takes if the house is sold to another buyer for less money.

The buyer's personal problem with her mother's illness and death is not a valid reason to cancel the purchase contract.

Source: latimes.com

Wiggle Waggle Walk

Here are some photos from the Wiggle-Waggle-Walk

Like expected, it was a really fun and furry event. The weather was perfect, sunny and not too warm. We were very proud of our custom KW Canine shirts! Dogs of all breeds and mixes strutted around the Rosebowl. You'd think with all those dogs there'd have been a few brawls, but things went smoothly - the dogs were well behaved.

8th Annual Eagle Rock Music Festival

The Eagle Rock Music Festival is brought to you by the Center For the Arts, Eagle Rock.

It is a free event. If you would like to contribute a donation, all proceeds support the Center’s free after-school programs for middle and high school students.

See attached flyer for more details

Pasadena Market Stats 9/01 - 09/26

Market activity of single family homes in Pasadena, CA for September 1st through September 26, as reported in I-Tech MLS (The Pasadena MLS)

Active Listings (available for sale)

Sale Pending (September)

Sold (September)

Wiggle Waggle Dog Walk for Pasadena Humane Society.

Please join us and many others for this wonderful opportunity to raise funds for the Pasadena Humane Society and SPCA.

The Wiggle Waggle Walk for the Animals is our shelter's largest fundraiser. In 2006, more than 1,200 people from around Southern California attended this event and helped raise a record $155,000 for the lost, injured and abandoned animals in our care. You don't have to have a dog to participate, just a desire to animals in need!

To register as an individual for the walk* and begin fundraising, click here.* We ask that all walkers register whether or not they will be fundraising!
To register as a team member for the walk* and begin fundraising, click here.
To donate to an individual, click here.
To donate to a team, click here.

Everyone is welcome to walk and registration is FREE. But we encourage you to donate or help raise money for our furry friends at the shelter by asking your friends, family, co-workers, and anyone else you may know to sponsor you in the walk.

When: Sunday September 30 at 8 am.

Where: Pasadena's world-famous Rose Bowl

Hope to see you there!

Watching for signs of a market turnaround

By Lew Sichelman, United Media Feature September 23, 2007

WASHINGTON -- There are plenty of homes for sale, a record number nationally and perhaps an all-time high in your neighborhood as well. But apart from those folks who must move for one reason or another, there just aren't many buyers. Even the looky-loos are staying away.

The reason is that people are afraid to dive in at a time when they think housing prices may be dropping. That's why most would-be buyers have taken themselves out of the game until prices hit bottom, which could be a mistake for those who plan to stay in their new homes for quite a while.


The common wisdom is that if the house of your dreams comes along, go for it. After all, it may not be available six months from now. As long as you remain in the house, any further drop in prices will be offset by rising prices down the road.

"In all likelihood, you'll make money in the long run," said Bernie Markstein, a senior economist with the National Assn. of Home Builders. "So your best deal could be right now.

"That scenario notwithstanding, for most people, today's situation raises the question: How do you know when prices have bottomed out?

It's tough to know the precise moment when prices stop falling and start rising once again. It's not even easy to spot a trend reversal. "If it was so easy to find the bottom," Markstein said, "we'd all be millionaires.

"But there are telltale signs that smart buyers can look for, evidence that the housing market has finally firmed and is about to rebound. Every economist has his or her favorite indicators.

For Lawrence Yun, senior economist at the National Assn. of Realtors, it's jobs and rents. Job growth creates pent-up demand, and demand equals sales, Yun said. When apartment rents are rising, tenants are likely to become fed up and start looking to buy.

For Markstein, a key indicator is the incentives that builders are throwing at potential buyers. Once the giveaways start to dry up, he said, it's a sure sign the market is beginning to turn.

Robert Campbell, publisher of the "Campbell Real Estate Timing Letter," has five indicators on his list. He said the signals are accurate for the San Diego real estate market, where he is based and has tested his theories for 24 years. The indicators, he added, "should work" in just about any locale.

Campbell's five "vital" signs:

* Existing home sales are perhaps his "most predictive" indicator. But it takes some legwork, because the number of homes sold in a given month is just a number. What you really want is a moving average, from month to month.
"You need to slow everything down by creating a 12-month moving average," he says.
"This takes the seasonality out of the equation."

Add up the last 12 months' sales -- that's local sales -- and divide by 12. Do the same thing month by month and you'll get an accurate reading of whether sales are slowing or increasing. When the pace begins to quicken, it means sellers are likely to start holding firm on their asking prices -- or at least won't be willing to come down as much.

Don't confuse this signal with the average number of days on the market, Campbell warned. Although time on the market is "helpful," it's a stat that is too easily manipulated. After all, when a seller takes his house off the market for a while or switches agents, the clock resets at zero when it comes back on the market.

* Building permits are "an excellent leading indicator," Campbell said. "No one reads a local market more accurately than builders. They have their fingers on the pulse of the market and adjust their businesses according to demand.

"When builders pull more permits in a month than they did the month before, then pull even more the next month, they think the market is improving and they want to be ready.

* Public information on mortgage defaults can be gathered from the local recorder's office. If defaults are rising, it means lenders are still being loaded up with foreclosed properties, which have to be put on the market to compete with other sellers. And when there's too much supply, prices tend to fall.

If the number of foreclosure filings is rising, it is a sure signal of prices headed down, Campbell said.

* Foreclosure sales are another indicator. The actual number of foreclosures is the number of filings minus the number of owners who have been able to bring their loans current, at least for the time being. Campbell calls it "a confirming number."

"Lenders tend to dump foreclosures on the market at 10% to 20% below the rest of the market" so they can get rid of it quickly, he said.

* Mortgage rates aren't so much a predictor as an "accelerator," Campbell said. This signal doesn't hold up very well right now because of the sub-prime mortgage-market meltdown. But normally, rising rates slow the housing market, and falling rates propel it.

The housing market will eventually turn around. It may be months or even years in a given locale, but it will turn. The trick is to know when it does before others do. Anyone following these five vital signs on a regular basis, Campbell said, "can nail the bottom pretty closely."

Source: latimes.com

Camera shy . . . for now

By Ruth Ryon, Los Angeles Times Staff Writer September 23, 2007

British rocker Ozzy Osbourne has been uncharacteristically quiet about the late-summer sale of his Beverly Hills house to pop star Christina Aguilera for close to $11.9 million.

The rock star has been equally low key about the Hidden Hills home he purchased shortly thereafter for nearly $12.5 million. He moved in two days after escrow closed.

In the past, Ozzy didn't seem to mind publicity about where he was living, and life in his former Beverly Hills home was anything but private. It's where MTV filmed the antics of the 58-year-old and his family.

Fans were known to show up by the tour-busload, eager to snap pictures of the Osbourne children.Ozzy and his manager-wife, Sharon, 54, now empty nesters, sold the two-story Mediterranean for the peace and quiet of Hidden Hills, a West Valley gated enclave known for its seclusion and pastoral setting.

Their new home is a Hamptons-style house in about 10,500 square feet, built in 2001 on 2-plus acres. The house has six bedrooms and 10 bathrooms plus a pool.The equestrian community may be short on sidewalks and traffic lights, but it does have its own school and police department.

At last count, there were about 2,000 residents in 648 houses.The Osbournes, who went on tour this summer with their music festival Ozzfest, are just part of a parade of celebrities who bought homes during the past few months in the area.

She finds a home she can bond withActress Denise Richards, Charlie Sheen's ex-wife, backed out of buying one Hidden Hills home but then purchased another, which had been on the market for about $4.6 million.

The house, built in 1991, has five bedrooms and five bathrooms in 5,600 square feet. The air-conditioned home is on close to 1.2 acres with a pool.Richards, 36, made her breakthrough in the film "Starship Troopers" (1997).

She followed with "Drop Dead Gorgeous" (1999), then was tapped to be the next Bond girl in "The World Is Not Enough" (1999).Practicing her sharps in 'the flats'Melissa Etheridge already lived in Hidden Hills, but she wanted a larger home in what is known as "the flats" area of the 2-square-mile community.

The singer, 45, bought a house that had not been on the market. She paid $5.1 million.The house, built in 1995, has five bedrooms and seven bathrooms in 6,500 square feet.

It sits on 1.4 acres and has views of the western foothills of the San Fernando Valley.$8-million sale is music to his earsOf course, not everyone stays inside Hidden Hills' gates forever. Graeme Revell, the award-winning film-music composer, just sold his home there for about $8 million.William Woodward, managing director and founder of Anthem Venture Partners in Santa Monica, bought the home.

The 12,000-square-foot European manor is on slightly more than 4 acres, adjacent to riding trails. The home has five bedroom suites, a library, a music room, an indoor racquetball court, a 1,500-bottle wine cellar and a guesthouse/recording studio.

Revell has written scores for such films as "The Crow," "Sin City" and "The Negotiator." The 51-year-old has a beach house where he plans to live.Terrie Greenup of Pritchett-Rapf & Associates in Malibu represented the buyer. Lisa Gutman of Re/Max in Calabasas and Drew Mandile and Brooke Knapp, both of Sotheby's International Realty in Beverly Hills, shared the listing.

Source: latimes.com

Groundbreaking Green Home Tax Breaks

Matt Woolsey 03.07.07, 12:01 AM ET

Leveraging real estate ownership into deductions has long been an effective strategy for fending off the Internal Revenue Service. Now, if you're willing to make green improvements, your home can lighten your tax burden even more.

In an effort to reduce energy consumption and pollution, loads of tax credits are available for homeowners looking to limit waste and emissions--consider it a stick and tofu approach. They're the result of the 2005 Energy Policy Act, which became effective for the 2006 tax year.
The biggest projects carry the largest credits. A solar power system for creating electricity carries with it a 30% of cost tax credit up to $2,000. The same credit goes for solar-powered water heaters, so long as they're used for residential purposes. Trying to write off a pool or Jacuzzi system will get you in hot water.

"Solar water heaters in the right kind of climate are the most accepted technology," says Warren Karlenzig, chief strategy officer of SustainLane, a best practices consulting firm for state and local governments. "But they're not as effective if you live in a place which doesn't get a lot of sun."

For the ambitious green-thumbed builder, any energy cell system that has an efficiency rating of 30% and a capacity of at least .5 kilowatts receives a 30% cost credit, as well as an additional $1,000 for every kilowatt of power the system can produce.

But new tax credits for home efficiency improvements aren't limited to large-scale enterprises. In fact, available credits exist for low-key projects that, in recent Aprils, have been out of bounds for tax breaks.

Substantial undertakings like building a driveway or adding a pool have been deductible for a long time, but in years past you couldn't save money for window, floor or roof improvements. Now, if the materials are Energy Star-certified and fall under the scope of the Energy Policy Act, you can recoup some costs.

The effect is twofold, according to the Environmental Protection Agency (EPA), which estimates that efficient materials can reduce energy costs by 30%. It may have been a mild winter in many parts of the country, but the average American still spent $1,900 on energy bills last year.
Throwing yourself headfirst into green improvement by going after tax incentives will help your tax return, but it may not be the best place to start for maximizing your home's energy efficiency.

"Before you start thinking about using solar energy or any of the other high-tech options available," says Karlenzig, "the first thing is to do an inventory."

Most local utilities will perform one free. It highlights your home's trouble spots where the most energy is being wasted. For a couple hundred dollars, private companies improve the service through the use of thermal imaging to graphically map out on a micro level the points at which energy loss occurs.

The biggest perpetrators are almost always windows and doorways, improvements that in the past haven't been tax deductible but now carry credits if they improve energy efficiency.
Exterior windows and doors, including skylights, that meet Energy Star requirements have a 10% tax credit up to $200. This also goes for storm windows and doors. Roofing and insulation or sealing that meets efficiency requirements earns a 10% credit up to $500.

The green building movement has legs in the high-end luxury market. Pharmaceuticals mogul Stewart Rahr has a geothermal cooling system in his $45 million home in the Hamptons, and former CIA Director R. James Woolsey has an expansive solar-powered energy system installed on the roof of his Maryland home.

But while the tax abatements are nice, the money saved in the long term and the ethical motivation to emit less are the primary motivations for green home improvement.

"It's all connected--you save money, you save energy," says Karen Schneider, an environmental protection specialist at the EPA. She points out that the average American home emitted 22,000 pounds of carbon last year. "Credits are paid for 2006 and 2007, but the payoff will be for the life of the product."

If you're looking for the most consistent long-term green solution, the answer lies at your local nursery--trees.

Summer heat flows through the east and west of a North American house, and the EPA estimates that mature trees planed on eastern and western exposures can reduce temperature by almost 10 degrees in summer months. In some cities, like Sacramento, Calif., the local government gives trees away in order to reduce strain on the grid.

Now that's a green solution everyone can wrap arms around.

Sunbelt states push August foreclosure filings up 36%

Filings up 77% in Florida, 48% in California

Nationwide foreclosure filings jumped 36 percent from July to August, data provider RealtyTrac reported today, led by sharp increases in Sunbelt states where inflated home prices rather than economic problems like job losses are thought to be the driving factor.

"The jump in foreclosure filings this month might be the beginning of the next wave of increased foreclosure activity, as a large number of subprime adjustable-rate loans are beginning to reset now," James Saccacio, chief executive officer of RealtyTrac, said in a statement accompanying the release of the report.

Foreclosure filings climbed in 45 states from July to August, with Arkansas, Kansas, Massachusetts, Mississippi and New Mexico the only exceptions.

Looking back one year, foreclosure filings were up 115 percent, to 243,947, RealtyTrac reported, with only three states -- Illinois, Nebraska and Oklahoma -- recording a decline from August 2006 levels.

California and Florida climbed RealtyTrac's list of states with the highest rate of foreclosures in August, with Nevada keeping its hold on the top position.

Nevada recorded one foreclosure filling for every 165 homes -- more than three times the national average -- as foreclosure filings increased 21 percent from July to August, to 6,197.
California had the second-highest rate of foreclosures nationwide, one for every 224 households, thanks to a 48 percent increase in monthly foreclosure filings to 57,875.
Florida saw foreclosure filings jump 77 percent, to 33,932, for a rate of one per 243 households, the third highest in the nation.

Another Sunbelt state, Arizona, saw a 50 percent increase in foreclosure filings, giving the state the seventh-highest foreclosure filing rate -- one for every 289 households, RealtyTrac reported.

RealtyTrac's monthly reports track filings that are submitted as properties move through three phases of foreclosure. The filings may be generated as properties go into default, are put up for auction, or become "real estate-owned" properties for sale by lenders.

The company's reports have come under fire in the past, with some saying RealtyTrac's numbers overstate foreclosure rates by counting some properties more than once as they move through the foreclosure process. To address the issue, RealtyTrac now provides numbers by unique household four times a year (see Inman News story). But the overall trends suggested by the company's latest monthly report are consistent with second-quarter foreclosure statistics recently released by the Mortgage Bankers Association.

The MBA said four Sunbelt states -- California, Florida, Nevada and Arizona -- drove the rate of mortgage loans entering foreclosure nationwide to a new record high. The MBA reported that during the second quarter, loans entered the foreclosure process at a record rate of 0.65 percent, compared with 0.58 percent during the previous quarter and 0.43 percent during the second quarter of 2006.

"Were it not for the increases in foreclosure starts in those four states, we would have seen a nationwide drop in the rate of foreclosure filings," said MBA Chief Economist Doug Duncan when the statistics were released Sept. 6.

Foreclosure in states like Michigan, Ohio and Indiana are driven primarily by economic issues like unemployment, Duncan said. But during the boom, investors and speculators were particularly active in California, Florida, Nevada and Arizona, the MBA said.

One in three purchase loans 90 days past due or in foreclosure in Nevada during the second quarter was on investment properties or second homes, the MBA estimated, with similar numbers in Florida (one in four) and California (one in five). Nationwide, only 13 percent of past-due or foreclosed loans were on investment properties or second homes.

Although RealtyTrac also placed Michigan, Ohio and Indiana among the top 10 states with the highest rate of foreclosure, the Rustbelt states experienced less severe growth in foreclosure filings from July to August than the Sunbelt states. Foreclosure filings in Ohio were up 33.6 percent from the previous month, to 17,793; 11.3 percent in Michigan, to 15,565; and 11.9 percent in Indiana, to 5,008.

In terms of raw numbers, the Rustbelt states racked up 38,336 foreclosure filings in August, accounting for only 15.7 percent of the 243,947 foreclosure filings tallied by RealtyTrac nationwide. California, Florida, Nevada and Arizona, by comparison, saw 106,819 filings, or 43.8 percent of the total.

The Sunbelt was also home to eight of the 10 cities with the highest foreclosure rates, with six cities in California making the list.

Modesto, Calif., ranked first in the nation with one filing per 79 households, followed by Stockton (second), Merced (third), Vallejo-Fairfield (fifth), Riverside-San Bernardino (sixth) and Sacramento (seventh). Other cities on the top 10 metro list were Detroit (fourth, with one filing for every 87 households), Fort Lauderdale, Fla. (eighth), Las Vegas (ninth) and Cleveland, Ohio (10th).

Source: Inman

Published September 18, 2007

Press Release

Release Date: September 18, 2007

The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 4-3/4 percent.

Economic growth was moderate during the first half of the year, but the tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally. Today’s action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time.

Readings on core inflation have improved modestly this year. However, the Committee judges that some inflation risks remain, and it will continue to monitor inflation developments carefully.

Developments in financial markets since the Committee’s last regular meeting have increased the uncertainty surrounding the economic outlook. The Committee will continue to assess the effects of these and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Charles L. Evans; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; William Poole; Eric Rosengren; and Kevin M. Warsh.
In a related action, the Board of Governors unanimously approved a 50-basis-point decrease in the discount rate to 5-1/4 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Cleveland, St. Louis, Minneapolis, Kansas City, and San Francisco.


Source: FederalReserve