Southern California Real Estate, apartments, entertainment, etc - Real Life from Los Angel

Can you say Doo dah Pasadena?

2009-03-02T15:00:00.000-08:00

Last meal before DooDah

Getting ready for DooDah, one of Pasadena's most interesting events. Tomorrow ill be on a liquid-only diet starting about 8:30 AM at Lucky Baldwins. Ill be wearing an IWEARWEED shirt.

Ill be reporting live all day. Unfortunately, I'll be dependent upon my mobile phone, and its crappy camera, for posting (although video will eventually be available).

If you see me, say "I wanna wear weed", and it could be worth a free IWEARWEED t-shirt.

Zetabidding LA foreclosures

2009-03-02T12:36:00.001-08:00

I've been following the Los Angeles real estate market for a long time, but I've never been involved in the foreclosure game. However, considering the massive amount of foreclosures that are hitting the Southern California real estate market, I'm considering it.

Have you ever used Zetabid? I'm looking for some Zetabid experiences.

Anybody used to Zetabid to purchase a foreclosure recently. Did it work out well?

How green is DSW?

2009-01-12T14:16:00.000-08:00

But good customer service

Since im in Paseo, I thought I would stop by DSW, and check their eco-friendly products. Unfortunately, they didn't have any. They used to have some recycled rubber products, but the salesperson couldn't find any in stock, but she did know what hemp was.

Friday afternoon at the 35er

2009-01-09T12:40:00.000-08:00

Bad boy today

So, I made it to the 35er today. Stayed longer than I wanted to. I always do.

Anyway I was talking to Deb, a bartender at the 35er. Deb has this really cool art. You can check her out at lalunasol.com.

Anyway, she has interesting skull art. Shes into dia los muertos kind of stuff. Frida. And she wants to put it on urns.

I think its a fantastic idea. Day of the dead influenced art on urns?

Is it just me, or is that just perfect?

What better medium? Tombstones?

Anyway, check her art out and check out the 35er if you are ever in old town, pasadena.

Also, have some cool art? Show us.

Is the worst over for Southern California real estate?

2006-10-09T14:48:00.000-07:00

In recent months many home buyers have pulled out of the real estate market, deciding to wait for a few months to see what happens. To be sure, more homes have hit the market followed by some price depreciation, however, is the big price correction still to follow?

Realestatejournal.com points out that while real estate data has shown declines in recent months, many real estate reports, such as one by Harvard, point out that declines of 5% are extremely rare and require severe overbuilding and massive job loss - neither of which have occurred in the Los Angeles area. Consequently, predicting the real estate market is like predicting the stock market - it's almost impossible to predict.

Then, last Friday, Allen Greenspan noted that the "worst may be over" for the real estate market (more).

Consequently, if the job market in the Los Angeles area stays strong and mortgage rates stay at their current levels, or even drop, real estate prices might just stabilize. Sure home values might not appreciate much, but they won't depreciate much either, until something causes the next real estate boom or bust.

Again, predicting that is almost impossible.

Los Angeles real estate market to bottom out in 2008?

2006-10-05T16:09:00.000-07:00

The housing bubble. Is there a real estate bubble? Will there be a soft landing or will home prices crash? No one really knows and different surveys and experts claim different things. Still, according to a study by Moody's Economy.com, Los Angeles real estate is expected to depreciate by 4.8% over the next year and a half, bottoming out in April of 2008. (more)

So Cal real estate price depreciation?

2006-09-22T09:12:00.000-07:00

"For the first time since the latest housing boom started six years ago, home price appreciation for each of the six Southern California counties has fallen to single-digit levels or worse, data released Tuesday showed." (more)

While it seems obvious that the days of double digit home appreciation are over in Southern California, when will we see price depreciation? More important, how much price depreciation will we see?

Already, some economists are speculating that the Fed might actually lower rates in early 2007, which could push mortgage rates lower as well. Would this delay, or even prevent, such a downturn? Could it cause another mini-boom?

California Foreclosures up 160% in August

2006-09-19T08:37:00.000-07:00

"In August, 115,292 properties entered into foreclosure, according to RealtyTrac, an online marketplace for foreclosure sales. That was 24 percent above the level in July and 53 percent higher than a year earlier." (More)

Much of the spike in foreclosures is being driven by ARM loans. While California, Nevada and Florida have spiked the most recently, the hardest hit areas could end up being in the Midwest where slumping job markets could make rising mortgage payments more difficult to manage.

As for California, foreclosures were up 160% in August compared to last year, with 12,506 homes falling into foreclosure.

The LA real estate bubble: And move where?

2006-09-13T10:30:00.000-07:00

As a Southern California home owner, I've thought that the prices of homes in Southern California are ridiculously high. Recently, however, I've considered selling my Los Angeles home, and I think I've changed my mind.

Where would I move?

Every place I've considered simply doesn't compare to Los Angeles. For those of you whom have never lived in Los Angeles, or Southern California, I can imagine your shock. Still, I have great business connections in LA, would I be able to utilize the same connections in Palm Springs, Austin, TX or Minneapolis, MN?

What about the weather? In LA, today, the weather is insane. We're experiencing the warmest weather Minneapolis EVER experiences - without the humidity. Let's face it, there is a reason why football stadiums in Southern California ARE NOT domes - our worst weather is the best fall and spring weather of places like Minneapolis.

So what if a nice 5 bedroom house in Minneapolis goes for $350,000? It's fricken freezing 6 months out of the year there. While they are holed up in the basement playing ping-pong or are out in a shanty ICE fishing, I'm outside complaining about how cold 65 degrees feels.

Are you kidding me?

Still, I'm not saying $350,000 isn't worth it in Minneapolis. I'm just saying $500,000 in Los Angeles might be a bargain. Sure home prices might recede a bit, but are you going to tell me that in 10 years, the average home isn't going to be worth far more than $500,000?

Please!

There might be a real estate bubble and prices might fall - to some extent. Still, in the long run, home prices will still be worth more than they are TODAY.

My elderly neighbor bought his home several decades ago for $6000.00. Today, that home is worth far more than $600,000. Even if today's real estate prices dropped 50%, that is STILL an unbelievable return on investment.

Bubble or no bubble, the price of real estate, eventually, always seems to rise.

Southern California real estate buyers hit the sidelines

2006-09-11T15:11:00.000-07:00

If you've been in the market to buy a home in Southern California, then you know how high prices have become. The word is, buyers have hit the sidelines to wait for a correction in home prices.

In a recent article in the Los Angeles Times, Bob Taylor of Bob Taylor Properties stated, "Unless they can get a good offer accepted, about 75% to 80% of my clients are saying they want to wait up to one year for 10% to 15% price adjustments."

While that sounds like a great idea, is it realistic?

In the same article, real estate bear and director of UCLA Anderson Forecast, Edward Leamer, stated, "Prices are going to be a little weaker a year from now, and there'll be more listings and more choices."

However, Mr. Leamer is only predicting an annual 2%-3% drop in real estate prices per year for the next three to five years.

If Mr. Leamer is correct, Mr. Taylor's clients might be waiting 5 years, rather than 1 year to buy into the Southern California real estate market.

Moreover, if Mr. Leamer is correct, would renting for 1 year for a 2% drop in real estate prices be worth the wait?

More on the Southern California real estate bubble.

Is the Southern California real estate bubble finally here?

2006-09-08T14:38:00.000-07:00

Are you tired of hearing about the real estate bubble? If you are in the market for a home in Southern California, then you probably are hoping all this bubble talk eventually turns into a serious decline in home prices.

But is a significant drop in home prices ever going to happen and when, if at all?According to a survey of 46 economists completed by the Wall Street Journal, you shouldn't expect much to happen for the next year or two. Through 2007, the majority of economists see stable home prices, or maybe a subtle decline - and we're talking a couple percent at most. (more)

While some economists do believe that this slowdown could eventually push prices considerably lower, it is beginning to appear that any larger price depreciation is still a couple of years away.

Is it worth waiting?

How much money will you lose by renting for the next couple of years? How much more expensive will your mortgage be if interest rates rise significantly?

It might very well be in any home buyer's interest to wait and see how the real estate bubble is going to play out; however, one thing is clear. If you are purchasing a home to live in for the next several years, historically, any price depreciation will eventually be recovered.Timing the real estate market, like the stock market, is almost impossible.

In such uncertain times, plan for the long term. The days of flipping at a profit are over.More on the Southern California real estate bubble.

Speaking of Northeast Los Angeles

2006-08-22T22:09:00.000-07:00

Are you hungry for some Mexican food? Well treat yourself to El Arco Iris. I have been a regular at this establishment for many years and I have always loved it. About a year ago they finished a long over due remodel and the food has never been better. Almost everything on the menu is worth trying, but, in particular, I love the carnitas and Armando's Special. Of course, the mole and chile relleno are also delicious. The burritos are very good and cheap - a great idea for lunch.

O.K. - Try everything!

El Arco Iris, 5684 York Blvd., Los Angeles, California

The Little Cave Rules!

2006-08-22T22:04:00.000-07:00

If you live in Northeast Los Angeles and want to find a place to hang out, there is no better place than the Little Cave in Highland Park. I stopped by the Little Cave last Friday. (more)

The Little Cave isn't some wannabe Hollywood place, such as the Beauty Bar. The Little Cave is the real deal.

Pasadena: Gordon Biersch versus the Yard House

2006-08-22T16:44:00.000-07:00

I was in Pasadena this weekend running some errands and I stopped by both Gordon Biersch and the Yard House. So, which offered better customer service?

I went to the Yard House first, since it was the nearest place to my errands. As I was using the Metro, I was on foot and it was pretty hot on Saturday, so I was very thirsty when I arrived.

Since I usually make it to the Yard House once per week, many of the bartenders know me, so my experiences might not be average. Still, even those bartenders that I don't know always provide excellent customer service and always love to talk about beer. Renee, in particular, is top notch.

Sure the Yard House is a bit corporate, but how many bars offer Delirium Tremens on tap? Not many, I can promise you that, and I would go to the Yard House just for a glass of this fine Belgian beer even if the service were bad. Bartenders, such as Renee, however, make a visit to the Yard House quite enjoyable.

Before heading home I also had to stop at Gordon Biersch. They have a Weisen Boch - I'm guessing on the spelling - which is just fantastic. Since it is only a seasonal I felt that I needed to take advantage, and I did, downing three pints of Biersch's best brew.

From the host to the bartender to the manager, my service at Gordon Biersch in Pasadena is always above the cut. It seems obvious this restaurant is well managed and almost every time I stop at the bar, the manager always says hello.

Often customer service is about the small things, such as remembering your name or a warm greeting. Yard House and Gordon Biersch in Pasadena are two places that always seem to remember the 'small things'.

Is Aztlan coming soon to Southern California?

2006-08-22T16:42:00.000-07:00

Is the real motive behind illegal immigration, Aztlan? Is Mexico, ultimately, trying to reconquer the SouthWest?

And I do mean reconquer. Let's not forget, there were many indigenous peoples - not just Aztecs, not just Mexicans, which also lived in the Southwest before it was part of the Mexican Empire.

Still, is there really - aside from some radicals - a movement to reclaim the Southwest?

According to a new book by ultraconservative, Patrick Buchanan, State of Emergency, claims "a conscious campaign to use America as a dumping ground for its poor and unemployed, both to relieve social pressure and effect a cultural re-annexation of the American Southwest. La Reconquista, the reconquest of the lands lost by Mexico in the Mexican-American War, Buchanan charges, is underway." (more)

What do you think, conservative propaganda or the new reality?

Pop goes the Southern California Real Estate Bubble

2006-08-22T16:41:00.000-07:00

I find the real estate market to be absolutely fascinating, and in recent years, nothing has been more interesting than the so-called real estate bubble. While I do pay attention to what is going on in real estate throughout the Nation, I focus particularly on California, especially Southern California.

The other day I read the article, Southland Home Sales at 9-Year Low. Almost everyone knows that home sales have slowed, as more and more For Sale signs hit the front yard and stay there longer and longer. This has some eagerly waiting for the decline of home prices.

Yet, is Southern California real estate really going to drop in price that much? And, will the reduction in price be worth higher interest rates?

Well, I'll be honest, I really don't know.

During the last real estate boom and bust in Southern California, not only were jobs leaving the area, but so too were the people. While some people have left Southern California, others have taken their place. Go find an apartment in Los Angeles - it's neither fun nor easy.

Even more interesting, when one compares Los Angeles to San Francisco, L.A. is still pretty cheap. With outsourcing hitting the Bay Area so hard, that phenomenon seems a bit mystifying.

The truth is, no one knows what is going to happen. Sure, home appreciation might flatten, but to expect a huge drop in prices seems a bit hasty and overly optimistic.

What about foreclosures, you say?

According to reports that I've seen, the areas to be mostly affected by ARMs, etc., don't include the West Coast. More important, the Southern California economy is actually pretty strong and Los Angeles offers some of the better job growth of any large city.

Ultimately, no one really knows what is going to happen. If you are trying to make a quick buck off of real estate, you're probably in the wrong market. If you are in it for the long term, even if housing prices do decline, there WILL be another boom. That is simply the nature of real estate.

If you are buying or selling, all I can say is, Good Luck.

No carpool lane for California hybrid car owners?

2004-12-31T10:52:00.000-08:00

The AP is reporting that California hybrid car drivers might not be able to use the car pool lane, even though the state recently approved such legislation.

The legislation, scheduled to start in January, gave hybrid owners the right to start using California's Diamond Lanes with only a single occupant.

Because the Federal government has not yet approved a waiver for California's legislation, the state is contemplating delaying the measure. Should California proceed without the waiver, the state could lose future Federal highway funding.

Some thought the Federal waiver was automatic; however, Virginia ran into the same problem earlier this year, but chose to allow hybrids without Federal approval.

"I didn't anticipate the political opposition potentially of the automobile manufacturers," said Assemblywoman Fran Pavley, D-Agoura Hills, author of the bill which received enthusiastic support from Schwarzenegger.

Some claim Federal government action won't be taken for at least 6 months.

So, don't take your Toyota Prius into the carpool lane without a passenger if you live in California.

The State Patrol, according to reports, will ticket you.

California real estate still sizzling

2004-12-30T09:08:00.000-08:00

California "is one of the hottest housing markets in the country," according to Leslie Appleton-Young, chief economist for the California Assn. of Realtors. "It's exceeded all expectations."

In 2005, Appleton-Young thinks home prices will rise about 15%, but that sales in California of new and existing homes will drop about 2.5%.

This rise in home prices is expected to start driving more and more potential buyers out of the real estate market, particularly in high priced areas like Ventura and Orange counties. This trend has; however, pushed up the prices of Los Angeles, Riverside, and San Bernardino counties.

As mortgage rates start going up next year, albeit slowly according to most analysts, even fewer people will have the ability to buy into the California real estate market.

While less houses will be up for sale, home prices are not expected to be adversely affected in 2005.

Need a Los Angeles California Real Estate Agent?

Need a Los Angeles California Mortgage Broker?

Accord Hybrid one of LA's Ten Great Cars of Year

2004-12-29T09:12:00.000-08:00

Los Angeles is possibly the world's most materialistic city, especially when it comes to automobiles. That's why when I saw the article, The Class of 2004 Ten of the great cars of the year and the types of L.A. owners they might attract, by Dan Neil, I certainly didn't expect to see a hybrid vehicle.

Yet, of the 10, one was the Honda Accord Hybrid and another was a Mini-Cooper, most of the rest were extreme gas-guzzlers.

Still, I was happy that a story about cars and Los Angeles, written by a Los Angeles Auto writer, would include a hybrid, but the article went further than that. Mr. Neil opens his article mentioning America's relationship to the internal combustion engine, and that this year provided evidence that something better than the internal combustion engine was clearly possible.

More important, he noted $3.00 gas in California and said, "American foreign policy is bloodily fixated on a region of the world whose single strategic value is oil."

It's not just because of the cost of gasoline that people purchase vehicles such as the Toyota Prius, or Ford Escape Hybrid, it's because of the costs of our dependency upon foreign oil, in addition to the environmental costs.

For decades Americans have died in the Middle East protecting foreign-oil dependency, like some maddened, craving drug addict.

But if California can say, No More, what an impact on the rest of the Nation.

Further, Neil brings up global warming, Bush's acknowledgement of global warming, as well as California's fight for clean air. "But automakers, suing to stop California's new carbon-emission standards, are in greenhouse denial." Then he asks, "Whose air is it, anyway?"

"The future belongs to automakers who embrace change. Toyota surpassed Ford as the world's No. 2 automaker in 2004 and will likely overtake GM in 2005, when it will sell more than 100,000 hybrid cars in the U.S.".

As in denial as America has been about oil, especially foreign oil and its costs, dramatic world events are forcing Americans to wake up to this issue.

American auto corporations better do the same.

Thinking about buying a home in Southern California

2004-12-28T11:01:00.000-08:00

Now might be the time.

According to a new article in USA Today by Sue Kirchhoff. In Housing market forecast: Cooler, Kirchhoff notes that next year's housing market might be a bit off last years, "but don't expect homes to become more affordable."

Overall, most think 2004 will be a record year, just not quite as hot as 2005. In fact home prices are expected to continue to appreciate well into next year.

Towards the end of next year, many analysts predict mortgage rates will be between 6.25% - 6.75%.

Some argue this raise in rates will make homes less affordable, especially in places like California, while others argue that an improving economy will offset the difference in rates.

Many analysts are not even mentioning "bubbles" anymore as increased immigration and stringent building codes, coupled with baby boomer wealth, might keep housing prices shooting strongly upwards, barring an economic disaster.

Need a Los Angeles California Real Estate Agent?

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Another sign that Southern California real estate is cooling?

2004-12-27T13:13:00.000-08:00

According to the Commerce Department, the Western Region of the United States, which includes California, saw a 28% drop in new home sales. Nationwide, home sales skidded 12%.

Of course November is always down compared to October as holiday preparations begin to kick in.

According to the LATimes; however, KB Home's in Los Angeles is reporting orders for new housing up 28 percent.

Most area analysts see the Southern California real estate market as still strong, though it has slowed. Everyone seems to have their eyes on interest rates right now.

Southern California Real Estate Agent?

Southern California Mortgage Broker?

Do you love smog? In not, buy a hybrid!

2004-12-27T11:47:00.000-08:00

Sure you don't.

Did you know that if you buy a hybrid car in California, that you qualify for an extra warranty on hybrid vehicle batteries? All California hybrids have a state-backed warranty covering 150,000 miles or 10 years.

Hybrid cars, such as the Toyota Prius, utilize a very sophisticated and expensive battery in their powertrains.

Some have worried that this might be an expensive repair, but it won't be a worry in California!

Now do the right thing and help clean our dirty air, buy a hybrid vehicle, you have plenty of choices, it's not just about the Prius. If you like the Honda Civic already, why not get the Civic hybrid. Or, if you need an SUV, go for the Ford Escape hybrid.

Or, if you are a horsepower freak, go for the Honda Accord hybrid, the fastest and most efficient Accord hybrid ever.

More hybrid vehicles.

Los Angeles Leads Real Estate Bubble Predictions

2004-12-26T20:14:00.000-08:00

A recent Business Week article by Peter Coy Protecting Yourself From a Housing Slump loosely reports that this is the year that housing prices hit their peak.

At that point double gains in home appreciation will slow, flatten, or recede. Depending on numerous factors, different areas and neighborhoods are predicted to be affected in various ways, with some continuing to gain value as others lose value.

Therefore, the article makes several suggestions that mostly focus on finances. Most notably, limit and reduce all debt now. The paper money gains of the current housing bubble can quickly be lost. Now is the time for fiscal responsibility.

If you want to sell, you should be ready to move quickly this spring.

If you are are looking to buy in Los Angeles, Southern California, or California, now might not be a bad time to wait.

Nonetheless, the most certain thing in the Los Angeles real estate market market is uncertainty.

Los Angeles Mortgage Broker?

Los Angeles Real Estate Agent?

California has the most expensive rents in nation

2004-12-23T15:26:00.000-08:00

According to the LATimes.com the typical California wage earner must make about $44,000 a year to afford the rent on a two-bedroom home.

Locally, Ventura County was the state and nation's fourth least affordable county, while Orange County was number 6.

Los Angeles county was not in the top 10, but the economics of the real estate market look good for Los Angeles County. With construction slowing and demand for rentals increasing, vacancies are very low. Not only might this force rents higher, but it might further sustain the California real estate boom.

Click here for the complete article.

Click here for a Los Angeles or California Real Estate Agent.

Weather facilitates cleanest air quality in Los Angeles in decades

2004-11-05T10:00:00.000-08:00

Los Angeles area air quality was the best in decades, but remained the worst in the nation by one key measure, said Sam Atwood, a spokesman for the South Coast Air Quality Management District.

According to an LATimes article, "The region benefited this year from weather that isn't conducive to smog, including cooler temperatures, fog, low clouds and weak inversion layers. Cleaner cars, industries and businesses also improved air quality, officials said. "

"The weather was a major factor this year, there's no denying that," Atwood said. "We're headed in the right direction but we have to definitely not rest on our laurels."

And that effort should be helped by new legislation which will force automakers to sell cars that are 30 percent more fuel efficient and pollution-emission reducing by 2009.

Contrary, to Detroit's stance, such cars already exist in the form of hybrid cars. For example, the Toyota's Prius hybrid, or the Honda Accord hybrid, already meet California's requirement.

Help clean the air, buy a hybrid vehicle.