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.