NELA Live

14th Annual Noche De Las Memorias

14th Annual Noche De Las Memorias, A Free Community World AIDS Event

Date:  Saturday, December 1, 2007

Where:  Lincoln Park, 3600 Mission Road, Los Angeles, CA 90031

Time:  HIV Testing 12noon -5:00pm,  Ceremony 4:00pm-5:30pm

What:  The Wall Las Memorias Project hosts the 14th Annual `Noche de las Memorias' on World AIDS  Day. The free event will take place at the site of the AIDS Monument in Lincoln Park located at 3600 Mission Rd. Los Angeles, CA 90031.

This year, more than fifty volunteers from local youth groups and high schools will help set up and light 3,000 luminarias through out Lincoln Park in honor of continued AIDS awareness and activism. Laura Diaz, KCBS news anchor, will be the mistress of ceremony for this year's program which will include musical performances by the Mary Immaculate Church Choir and flutist Manuel Sanchez. The program will also include testimonies from individuals affected by HIV and messages from local community faith leaders. Free rapid HIV testing will be available to all individuals. Over 500 community members are expected to attend this year's event.

Founded in 1993, the mission of The Wall Las Memorias Project is to preserve the AIDS monument as an inspirational tool to educate the community about cultural denial, HIV/AIDS and to promote activism and healthy living.

For more information please call 323-257-1056.

~~Eddie

Los Angeles Mortgage Rates Report: Procrastination Costs

This Los Angeles Mortgage Rates Report is a...

SPECIAL EDITION:  Why it makes sense to refinance...TODAY.

If refinancing the mortgage, for your home in Los Angeles, has been on your mind, two things just happened which should compel you to do just that:

1- 30 year fixed rate mortgages dropped below 6% for the first time since October, 2005.  While I am a staunch advocate of ARMs, as the least expensive mortgage, Wall Street seems to be rewarding the credit-worthy borrowers who are willing to lock-into a fixed rate mortgage.  Wall Street may be trying to push people into locking into loans, because they believe that rates are dropping, but I think that a fixed rate loan under 6% is about as good as it gets.

2- Fannie Mae and Freddie Mac are about to make borrowers jump through more hoops...again.  Next month, borrowers who do NOT have a FICO score of at least 680 will be assessed with a healthy penalty; 1-2% of the loan amount.  What that means is that the interest rate charged could be as much as .75% higher than the rates offered to borrowers with stellar credit (or the cost of the loan will be 1%-2% more).

If you are holding out for lower mortgage rates, that may happen next month.  You might be left out in the cold if your credit score isn't high enough.  I've seen people who have perfect credit histories with a credit score under 680 so don't get cocky; this could happen to you !  While rates could drop another .25%, you could be forced into a rate that is .25 higher than you could get today.

ACTION PLAN:  Call me today at 858-699-4590 for a mortgage rate review.

Live Jazz and Blues every Wednesday in Highand Park.

La Casa Blue, Food & Bar is proud to present Live Jazz and Blues musicisans Lewis Wong and friends every wednesday at Highland Park's only Live Music Diner & Pub located at 5930 York Blvd. Highland Park, Los Angeles 90042. Stop buy for a great show from musicians with a life time of expierence each.

Also Saturday the 15th of December, Evone Butler, joins Jazz and Pop trio "O3" on the main stage at La Casa Blue. Evone has had a very impressive carreer singing for film and recording greats alike.

So join us for great drinks, food and atmosphere, right here in Highland Park at La Casa Blue. Never a cover charge or drink minimum.  Donations and tips are appreciated for live entertainment. Food and drink specials all night ling. from 8pm to 1:00 am

sincerely,
The La Casa Blue, food  & Bar Family

www.lacasablue.com

Artist in Discussion Series at the Avenue 50 Studio

Thursday, November 29, 2007 starting at 7:00 pm

Artist in Discussion Series with Leigh Salgado and Abel Alejandre

Join us for a discussion on the artist process by two artists who share a devotion to their respective medium and attention to detail.  The trance-like quality of their art, combined with their dedication to process and ritualistic patterns, bridge the mediums of each artist’s work to create a unified and powerful statement.

Avenue 50 Studio
131 No. Avenue 50
Highland Park, CA 90042
323/258-1435

www.avenue50studio.com

Northeast Los Angeles Holiday Parade & Winterfest

The Northeast Los Angeles Holiday Parade & Winterfest will be held on Sunday, December 2, 2007, starting at 1 p.m.

Grand Marshalls will be radio personalities Omar Velasco and Argelia Atilano, KLVE 107.5 FM

The Parade will proceed from North Figueroa St and Ave 60 southbound to Sycamore Grove Park where fesitivities continue with Winterfest at 3 p.m.

Note:  North Figueroa will be closed to through traffic for the day.

For more Parade information, call (323) 222-4740 or online at http://nelachristmasparade2007.com/

Living the American Dream

To some, if not most, part of living the American Dream entails owning a home! 
SPANISH: Para algunos, si no todos, parte de viviendo el Sueno Americano incluye ser dueño de una casa!

For those of you that know me, I work the area of North East Los Angeles; I have refinanced and financed various purchase transactions for my fellow neighbor.
SPANISH: Para los que me conocen, yo trabajo el área de North East Los Angeles; he refinanciado y e dado varios prestamos para compra de casa ha mi ser humano.

Recently I asked a neighbor in Cypress Park...
SPANISH: Recientemente, le pregunte a un vecino en Cypress Park...

What does it feel like to own a home?
SPANISH: Que se siente ser dueño de una casa?

How should I tell you? It feels beautiful...it feels prideful. A lot of people work very hard to barely afford to make a rent payment and that's a troublesome thing. To know that I work hard so that I can own my own home...that's something to have pride over!!!
I've accomplished something very big and today my property is worth half a million dollars.
SPANISH: Pues como te diré? Se siente bonito...se siente orgullo. Mucha gente trabaja muy duro y apenas tienen para pagar la renta, y eso es triste. Saber que yo trabajo duro y para ser yo...dueña de mi propia casa. Eso es orgullo!!!
He cumplido una cosa muy grande y hoy mi propiedad vale medio millón de dolares.

What words of advice do you have for someone thinking of owning a home?
SPANISH: Que palabras de consejo le tienes al alguien pensando en comprando casa?

To educate themselves as much as possible. At the time I bought my house I didn't have all of this Internet stuff. I had to confide in someone to help me. But today I know that a lot of information you can find online for free. I mean it's not wrong to confide in someone and shake their hand...but today, you have to start little by little. And the information concerning all of the process is right there.
Just remember, don't be afraid to ask questions!
Welcome to the pridefullness of home ownership!
SPANISH: Que guarden su dinero y que se educan lo mejor posible. En el tiempo que yo compre me casa no tuvimos todo esto del Internet. Yo me confié en alguien y ellos me ayudaron. Pero hoy también se que mucha información se pueda conseguir gratis en el Internet. Osea no es mal confiar en alguien y chocarles la mano...pero hay que empesar poco a poco. Y allí esta la información sobre todo lo que tienen que saber.
Y aquerdense, no tengan miedo de hacer preguntas!
Bienvenidos al orgullo de ser dueño de casa!

 

Americanos: Latino Life in the United States (La Vida Latina en los Estados Unidos) es un libro que ilumina la vida Latina. Si usted gusta una copia de este libro gratis, mande me un correo electronico (email) aqui.

Old L.A. (Highland Park) Farmer's Market Report 11/20/07

Last week, we (my husband and I) hosted Thanksgiving dinner at our house for the first time ever. And we survived it! We had nine people for dinner, including siblings from both sides and their respective families.

The group includes: a quasi-vegetarian, a more serious vegetarian, a bunch of carnivores, a couple of picky kids and someone who doesn’t like onions. My hub did a great job with the turkey. There was a sausage stuffing and a mushroom stuffing, a “real” gravy and a vegetarian gravy (surprisingly delicious, made with a roux and homemade roasted vegetable stock). We did some zucchini on the grill at the last minute, while the roasted sweet potato fries were coming out of the oven and the white potatoes (well, Yukon gold) were being mashed. The salad was dressed (romaine, pears, walnuts and gorgonzola – what’s better than that???) and everything pretty much hit the table all at the same time. Remarkably lucky for our first try at this dinner, but we had lots of help in the kitchen.

The stand-out dish of the entire meal was the mashed potatoes with a pear puree. Everyone loved it, no matter what the individual’s dietary preference or habit. The pear puree was made the day before and kept in the fridge, to be heated slightly in the microwave and then swirled into the potatoes just before serving. The best part? Every ingredient came from the farmers market – the potatoes, the turnips (optional, in my opinion), the pears, the lemon, even the honey! I think that is the reason it tasted so good. The recipe can be found here, on the Epicurious website:

http://www.epicurious.com/recipes/food/views/231102

We will definitely be making these potatoes again and again through the chilly winter months. An added bonus: the pears make the house smell delicious when they are roasting.

The market is found every Tuesday from 3- 8 p.m. on Avenue 58 and Marmion Way, between the Gold Line station and Figueroa Blvd. There is FREE PARKING after 4 p.m. in the lot adjacent to the market.

See you there. ML

Los Angeles Mortgage Rates Report: November 26, 2007

Locking mortgage rates at application has been my advice since our last report.  Mortgage bond prices improved last week, and today, because of continued fear of defaults in the sub-prime loan market.

While my advice appears to be incorrect, I was mostly worried about inflationary data showing up in this week's figures.  Consumer Confidence and Existing Home Sales are due out in the next two days and the granddaddy of all economic reports, Gross Domestic Product, is due out on Thursday.

I'm not retreating from my earlier recommendation to lock your mortgage rate at application.  Fixed mortgage rates below 6% can be locked in the early part of this week.  While the sub-prime defaults are causing agida for Wall Street, it would appear unlikely that the Fed will cut even farther than the .25% that the interest rate market expects.

If I'm wrong on Thursday, and GDP comes in dramatically lower than expected, I'll immediately change my posture to float mortgage rates. However, the risk of higher mortgage rates outweighs the opportunity for getting "just a little bit better" on the rate.  If you can get a rate below 6% (and you can), lock it in.

Rates we offer today:

PROGRAM                RATE                APR

3/1 ARM                 5.525%        5.613%
5/1 ARM                 5.625%        5.887%
30 Year Fix            5.875%        6.124%

Rates as of 11-26-2007 and are subject to qualification and  market fluctuation.

Equal Opportunity Lender

Locking mortgage rates at application has been my advice since our last report.  Mortgage bond prices improved last week, and today, because of continued fear of defaults in the sub-prime loan market.

While my advice appears to be incorrect, I was mostly worried about inflationary data showing up in this week's figures.  Consumer Confidence and Existing Home Sales are due out in the next two days and the granddaddy of all economic reports, Gross Domestic Product, is due out on Thursday.

I'm not retreating from my earlier recommendation to lock your mortgage rate at application.  Fixed mortgage rates below 6% can be locked in the early part of this week.  While the sub-prime defaults are causing agida for Wall Street, it would appear unlikely that the Fed will cut even farther than the .25% that the interest rate market expects.

If I'm wrong on Thursday, and GDP comes in dramatically lower than expected, I'll immediately change my posture to float mortgage rates. However, the risk of higher mortgage rates outweighs the opportunity for getting "just a little bit better" on the rate.  If you can get a rate below 6% (and you can), lock it in.

Rates we offer today:

PROGRAM                RATE                APR

3/1 ARM                 5.525%        5.613%
5/1 ARM                 5.625%        5.887%
30 Year Fix            5.875%        6.124%

Rates as of 11-26-2007 and are subject to qualification and  market fluctuation.

Equal Opportunity Lender

MARKET STATS 11/19 - 11/25

Market activity in zip codes 90031, 90032, 90041, 90042, 90065 for November 12 through November 18, 2007  as reported in I-Tech MLS:

New listings entered

Price reductions

Reported pending

Reported sold and closed

OPEN HOUSES FOR SUNDAY NOVEMBER 25

Listing of Sunday's Open Houses from I-Tech MLS

Listing of Sunday's Open Houses from Combined L A Westside MLS

Thanks, But No Thanks!

Thanksgiving, a truly American holiday, is a celebration of an informal treatise.  I learned, as an elementary student at Joyce Kilmer Elementary School, that the "pilgrims and indians" gathered for a great feast to give thanks for a bountiful harvest.  It was billed as the first "cross-cultural" celebration in this New World.

While I was dressing up as "a brave", for the kindergarten performance, Frank James of the Wampanoag Native American Tribe was presenting an entirely different account, in Massachusetts.  He wrote a rousing speech about the oppression of Native Americans.  When the Massachusetts legislature received an advance copy of the speech, Mr. James was disinvited.  That censorship led to the National Day of Mourning, recognized by many Native American groups.

Were I older than my five years, in 1970, I might have offered to the Massachusetts legislature my disapproval to the censorship of Frank James.  Then, I would have suggested that "Talk is Cheap" to Mr. James.  I might have advised him to start looking for opportunities for Native Americans rather than looking for a handout from the descendants of the alleged oppressors.

The libertarian thought that dominates my mind loves the equitable irony of my last statement. Certainly, someone within the Native American communities heeded my unspoken advice.  While European fur traders may have devastated Native Americans with the introduction of firewater, it would appear that Native Americans have discovered the chink in our armor.

...and today, "The Man" is the one looking for a handout.

Happy Thanksgiving Northeast Los Angeles ! 

Old L.A. (HP) Farmer's Market Report

It’s always a little sad when it starts getting dark so early this time of year, but it makes me crave warm, comforting, homemade food… and that means shopping at the farmer’s market for all the right ingredients.

This week I’m on an eggplant kick. I picked up some darling “baby” eggplants at the market. They are about the size of a small orange, beautiful dark, smooth skins and very plump. Bigger eggplants can occasionally get bitter, but there was no danger of that with these cuties, and they had very few seeds (which can also lead to bitterness).

We ate some that very evening on top of a homemade pizza (whipping up a pizza is so easy to do with dough, sauce and cheese from Trader Joe’s – just top with your favorite farmers market finds that week).

Afterwards, I found a very clever idea for eggplant on www.chowhound.com -- lightly breading and cooking in your waffle iron! If you have kids, this may be a new way to get them to eat veggies. No joke; check out this link (and I’m going to try it for dinner tonight myself):

http://www.chowhound.com/topics/446954

The market is found every Tuesday from 3- 8 p.m. on Avenue 58 and Marmion Way, between the Gold Line station and Figueroa Blvd. There is FREE PARKING after 4 p.m. in the lot adjacent to the market.

See you there. ML

MARKET STATS 11/12 - 11/18

Market activity in zip codes 90031, 90032, 90041, 90042, 90065 for November 12 through November 18, 2007  as reported in I-Tech MLS:

New listings entered

Price reductions

Reported pending

Reported sold and closed

OPEN HOUSES FOR SUNDAY NOVEMBER 18

Listing of Sunday's Open Houses from I-Tech MLS

Listing of Sunday's Open Houses from Combined L A Westside MLS

Now is the Time!

Now is the Time for the Arroyo Arts Collective 15th Annual Discovery Tour. Sunday, November 18th, promises a fun filled day discovering some of the hidden secrets of the neighborhood. This self-guided auto tour of artist studios in Highland Park, Mt. Washington and Eagle Rock gives you the opportunity to discover unique studio settings ranging from storefronts to funky garages to landmark craftsman homes scattered throughout the hills of Northeast Los Angeles. Abstract, figurative, narrative and representational work by painters, printmakers, sculptors and photographers will be featured. Craftspeople will display and sell work in the Lummis Home courtyard.

The Tour begins at the Lummis Home, 200 East Avenue 43. Tourgoers will receive a comprehensive map of artists’ studios with short descriptions of the artists. There will be an artist bio notebook and large picture boards with representative samples of artists’ work. Volunteers will also be on hand to answer questions.

Of the 100 artists featured, 23 are new to the Tour this year. Visit www.arroyoartscollective.org, scroll over the Discovery Tour banner, then click on Tour artists’ info. View artists’ websites to preplan your Tour. Or, spend some time on Saturday from 1:00-4:00 p.m. at the Acorn Gallery, 135 North Avenue 50, Highland Park, where many of the Tour artists’ have work on display.

The Arroyo Arts Collective 15th Annual Discovery Tour
Lummis Home, 200 East Avenue 43 (enter on Carlota), Highland Park, 90031
Sunday, November 18, 9:30am-6:00pm
Advance $10 at http://www.arroyoartscollective.org or

Galco’s Old World Grocery, 5702 York Boulevard; $15 day of theTour at Lummis Home

Historic Highland Park Neighborhood Council Election Results

ELECTION RESULTS:

President (1)
Mauro Garcia 166
Dr. Richard Dyke 194 elected
First Vice-President (1)
Jesse Pelayo 159
Dr. Stanley W. Moore 203 elected
Second Vice-President (1)
Dr. William Ernest Schenewerk 266 elected
Treasurer (1)
Jesus "Jesse" Rosas 300 elected
Secretary (1)
Jessica Godoy 292 elected
City Services & Transportation (1)
Chris Smith 273 elected
Arts, Culture & Architecture (1)
Brenda Davidge 24
Yvonne Sarceda 157 elected
Roxana Rivera 147
Human Relations, Education & Youth Development (1)
Ofelia Zuniga 138
Brenda Davidge 15
Jill Baron 11
Maggie Godoy 171 elected
Public Health & Safety (1)
Dr. Nicole M. Gatto 270 elected
Outreach & Communication (1)
Enma Espinoza 293 elected
Land Use (1)
David Baird 269 elected
Economic Development (1)
Olga Lopez 275 elected
Housing (1)
Lourdes Rodriquez 130
Gloria S. Demeter 158 elected
At-Large Directors (8)
Vanessa Ruiz 131 elected
Jesus "Jesse" Rosas 125 withdrawn
Jesse Pelayo 114 elected
Ofelia Zuniga 114 elected
Maggie Godoy 111 withdrawn
Steve Crouch 106 elected
Rose Cortez 102 elected
Miriam Escobar 102 elected
Mauro Garcia 101 elected
Umberto Escobar 94 elected
Dr. Stanley W. Moore 94 withdrawn
Enma Espinoza 88
Gemma Marquez 78
Olga Lopez 75
Christina Puga 74
Dr. William Ernest Schenewerk 71
Teresa Diaz 70
Yvonne Sarceda 67
Gloria S. Demeter 53
Maria Mancilla 52
Sonia Solis Sanchez 52
Maria A. Arellano 48
Ben Sullivan 48
Chris Smith 46
Roberto Antonio Monico 39
Rocio Idalgo 31
Edna Melondez 24
Jill Baron 19

Registrations 374
Ballots Counted 374
Provisionals Not counted 0

Jerry Kvasnicka, IEA
Completed/Submitted 11/13/2007
Challenges DUE 11/18/2007
Jerry Kvasnicka, IEA

For more info:  Historic Highland Park Neighborhood Council Website

Los Angeles Mortgage Rates Report: November 14, 2007

Goldman Sachs reiterated, for the eight time yesterday, that its exposure to the sub-prime mortgage crisis was limited; Wall Street responded by buying stocks:

Goldman Sachs Chief Executive Officer Lloyd Blankfein told a New York conference yesterday that the largest U.S. securities firm by market value doesn't plan ``significant'' writedowns from subprime-mortgage securities. Bank of America said its losses will be restricted to $3 billion next quarter and UBS AG analyst Glenn Schorr said the potential for losses at Lehman Brothers Holdings Inc. is ``negligible.''

Bear Stearns followed up with another positive forecast about its sub-prime loss this morning:

U.S. stocks were poised to rally for a second day after Bear Stearns Cos. eased concern that credit- market losses would deepen and retail sales topped economists' forecasts.                    Bear Stearns climbed after the fifth-largest U.S. securities firm said it is regaining hedge-fund customers and it would only write down $1.2 billion from subprime assets this quarter.

What does this mean for mortgage applicants?  The positive momentum for stocks, spurred by the somewhat positive news from the financial sector, should draw money away from mortgage bonds this week.  Economic reports were somewhat flat today and are expected to be flat tomorrow. While the majority of Wall Street believes that rates will be cut in the near future, we believe that may be priced into the market.  As money flows to stocks and away from bonds, it may cause rates to rise over the next couple of weeks.

We are changing our bias to locking loans at application.

Rates we offer today:

PROGRAM                RATE                APR

3/1 ARM                 5.625%        5.813%
5/1 ARM                5.875%        6.087%
30 Year Fix           6.125%        6.324%

Rates as of 11-14-2007 and are subject to qualification and  market fluctuation.

Equal Opportunity Lender

Goldman Sachs reiterated, for the eight time yesterday, that its exposure to the sub-prime mortgage crisis was limited; Wall Street responded by buying stocks:

Goldman Sachs Chief Executive Officer Lloyd Blankfein told a New York conference yesterday that the largest U.S. securities firm by market value doesn't plan ``significant'' writedowns from subprime-mortgage securities. Bank of America said its losses will be restricted to $3 billion next quarter and UBS AG analyst Glenn Schorr said the potential for losses at Lehman Brothers Holdings Inc. is ``negligible.''

Bear Stearns followed up with another positive forecast about its sub-prime loss this morning:

U.S. stocks were poised to rally for a second day after Bear Stearns Cos. eased concern that credit- market losses would deepen and retail sales topped economists' forecasts.                    Bear Stearns climbed after the fifth-largest U.S. securities firm said it is regaining hedge-fund customers and it would only write down $1.2 billion from subprime assets this quarter.

What does this mean for mortgage applicants?  The positive momentum for stocks, spurred by the somewhat positive news from the financial sector, should draw money away from mortgage bonds this week.  Economic reports were somewhat flat today and are expected to be flat tomorrow. While the majority of Wall Street believes that rates will be cut in the near future, we believe that may be priced into the market.  As money flows to stocks and away from bonds, it may cause rates to rise over the next couple of weeks.

We are changing our bias to locking loans at application.

Rates we offer today:

PROGRAM                RATE                APR

3/1 ARM                 5.625%        5.813%
5/1 ARM                5.875%        6.087%
30 Year Fix           6.125%        6.324%

Rates as of 11-14-2007 and are subject to qualification and  market fluctuation.

Equal Opportunity Lender

Hey, DUSTIN!

On the crazy, off-hand chance that Dustin Luther cruises by NELALive during his presentation Tuesday at the 2007 REALTORS® Conference & Expo,,, Hey, Dustin!  Whatssup?

MARKET STATS 11/05 - 11/11

Market activity in zip codes 90031, 90032, 90041, 90042, 90065 for  November 5 through November 11, 2007 as reported in I-Tech MLS:

New listings entered

Price reductions

Reported pending

Reported sold and closed

OPEN HOUSES FOR SUNDAY NOVEMBER 11

Listing of Sunday's Open Houses from I-Tech MLS

Listing of Sunday's Open Houses from Combined L A Westside MLS

Los Angeles Mortgage Rates Report: November 9, 2007- Who's Afraid of the Big Bad Reds?

Los Angeles mortgage rates were pretty much unchanged this week, exactly as we expected them to be. 

The Chinese said that our dollar was akin to a Latin American country's currency which gave us a minor scare in the mortgage-backed securities markets. We responded by saying that their toys are more dangerous than lead-based paint chips.

We are at war with China, an economic war but a war nonetheless.  It's a war based on cultural differences, like all wars. This war is not about a land grab it's about fair access to markets. The Chinese want to sell whatever they can to Americans, with a decided price advantage, without offering access to their markets.  Yahoo!  was the first American traitor when they aided and abetted the enemy for a few yuan.

What does China have to do with Los Angeles mortgage rates?

The answer will soon be "nothing".  We feared the ChiComs because of their ability to hoard US Treasuries- China became the 800 lb gorilla that could dump those bonds and drive our mortgage rates inLos Angeles up.  They did it and nothing happened.

The underlying theme, driving mortgage rates in Los Angeles, is the American economy.  Ben Bernanke is trying to balance the threat of higher oil prices with a collapsing real estate finance market. The former is  inflationary while the latter is deflationary.  Expect him to be biased against an economic depression.  This means lower rates in the next 6-18 months.  In the short term, a C-note for a barrel of crude oil, is keeping rates around the 6% range.

We think it makes sense to cautiously float your mortgage rate until we see what the numbers look like on Wednesday.

Los Angeles mortgage rates were pretty much unchanged this week, exactly as we expected them to be. 

The Chinese said that our dollar was akin to a Latin American country's currency which gave us a minor scare in the mortgage-backed securities markets. We responded by saying that their toys are more dangerous than lead-based paint chips.

We are at war with China, an economic war but a war nonetheless.  It's a war based on cultural differences, like all wars. This war is not about a land grab it's about fair access to markets. The Chinese want to sell whatever they can to Americans, with a decided price advantage, without offering access to their markets.  Yahoo!  was the first American traitor when they aided and abetted the enemy for a few yuan.

What does China have to do with Los Angeles mortgage rates?

The answer will soon be "nothing".  We feared the ChiComs because of their ability to hoard US Treasuries- China became the 800 lb gorilla that could dump those bonds and drive our mortgage rates inLos Angeles up.  They did it and nothing happened.

The underlying theme, driving mortgage rates in Los Angeles, is the American economy.  Ben Bernanke is trying to balance the threat of higher oil prices with a collapsing real estate finance market. The former is  inflationary while the latter is deflationary.  Expect him to be biased against an economic depression.  This means lower rates in the next 6-18 months.  In the short term, a C-note for a barrel of crude oil, is keeping rates around the 6% range.

We think it makes sense to cautiously float your mortgage rate until we see what the numbers look like on Wednesday.

Into the Arms of Pushkin

2007 T.S. Eliot prize winning poet Carol V. Davis to speak and have book signing at Avenue 50 Studio

Carol V. Davis is the winner of the 2007 T.S. Eliot Prize for Poetry sponsored by Truman State University Press, Kirkland, Mo. Davis’s winning collection, Into the Arms of Pushkin, was inspired by her experiences in Russia as a Fulbright Scholar.  Ms. Davis is the granddaughter of Jewish immigrants from Russia.

Davis’s poems explore a variety of issues that she encountered overseas, including the effects of language barriers and the isolation and loneliness that can result. The collection was also inspired by her children as she witnessed their own struggles and successes assimilating with a different culture. One such poem, The Violin Teacher, was written after Davis observed a music lesson her son was taking.

The judge for the T.S. Eliot Prize, Alberto Rios, commented on the collection, “Showing us what this
particular life in Russia feels like makes it our world, even when the speaker struggles to draw meaning from confusion or frustration…Finding meaning—a continual act of translation and its failure in so many things—propels the poems in this book.”

Davis expressed that her Fulbright experience was as personally rewarding as it was professionally, “The role of a poet in Russia is so different than in the U.S. It is a very respected profession there and that had a tremendous impact psychologically.” During her Fulbright grants to Russia Davis taught modern Jewish literature in 1996-1997, and returned in fall 2005 to teach contemporary American literature.

Into the Arms of Pushkin was selected from more than 500 entries to receive the T.S. Eliot prize. Davis was awarded $2,000 and the publication of her book, in hard- and paper-back editions, in fall 2007.

Book may be purchased at time of signing.

Avenue 50 Studio, Inc.
a 501(c)(3) not-for-profit art gallery
131 No. Avenue 50, Highland Park, CA  90042
323/258-1435

Second Saturday Art Gallery Night November 10

The second Saturday of every month is Gallery Night in Northeast Los Angeles :  Your opportunity to explore the Galleries, Shops, Restaurants and Nightlife in the historic and eclectic neighborhoods of Northeast Los Angeles.  Maybe even purchase art for your home or office.

Tour participating galleries this Saturday, November 10, from 7PM - 10 PM, then wrap with drinks and music at Mr. T's Bowl, or La Casa Blue.

More info here:  http://www.nelaart.org/

And here:  http://groups.yahoo.com/group/NELAart/

Mr. T's Bowl:  http://mrtsbowl.tripod.com/

La Casa Blue:  http://www.lacasablue.com/   

Las Casa Blue will be hosting Disco Saturday Night Fever from 6-10PM, featuring the music of DJ Maxie Maxx, as a benefit for the NELA Christmas Parade Fundraiser.

The Arroyo Arts Collective Preview Party

In conjunction with the 15th Annual Discovery Tour, the Arroyo Arts Collective will host a gala preview party at the Acorn Gallery where work by more than 50 of the participating artists will be on display on Saturday, November 10th . Drop by and meet Tour artists, other Collective members, neighborhood art enthusiasts, NELAart Second Saturday-ers, have a snack or drink and buy Tour tickets at the advance price.

The preview party is a great place to catch up with friends and select the artists you'd like to visit on the day of the Tour. The party is from 7 to 10p.m.

The Acorn Gallery is located at 135 North Avenue 50, Highland Park.

2nd Annual Eagle Rock Veterans Day Parade

The 2nd Annual Eagle Rock Veterans Day Parade takes place Sunday November 11. This year promises to be the best ever as Franklin High and Eagle Rock High school bands, Irving Middle School drill teams, cheerleaders, boys & girls scouts, Chambers of Commerce, Civic Clubs, Veterans of All Wars and Parents of Soldiers currently serving in Iraq and Afghanistan march on Eagle Rock Boulevard to show their  support of those who fought so we may be free.

The Motorpsycho Drill Team will lead the charge followed by the Aztec Dancers who will bless the parade. Prior to the parade, there will be a ceremony at Eagle Rock City Hall where Councilmember Jose Huizar will lay a wreath on the Veterans Memorial Plaques honoring all veterans and the Filipino American Veterans who fought side by side with the American forces during WWII. Taps will be played by Nathan Miranda and L. Michael Black of the American Legion will recite his poem "For my beloved Comrades."

Entertainment will follow at the end of the parade on Caspar and Merton and the lineup includes the Los Angeles Police Department Concert Band, St. Dominic's Quartet, Barbershop Chorale Group, Kids on Stage for a Better World, Viva Trombones, and a surprise celebrity performer.

This year's Grand Marshall is Robert X. Cota who served as Corporal in the Coast Artillery of the U.S. Army during WWII. He will head the parade with his wife Kitty and daughter Carole Cota Gelfuso, 1966 Tournament of Roses Parade Queen.

Everyone is invited to attend and watch along Eagle Rock Boulevard. The parade is sponsored by the Eagle Rock Neighborhood Council, the Office of Councilmember Jose Huizar and the Eagle Rock Chamber of Commerce.

Schedule of Events

11:00 a.m. - Eagle Rock City Hall, 2035 Colorado Boulevard - Ceremonies honoring Veterans of all Wars

1:00 p.m. - Parade on Eagle Rock Boulevard to Merton Avenue and Caspar

2:30 p.m. - Entertainment on Stage - Eagle Rock Library Parking Lot


[posted by Ruby de Vera]

Old L.A. (HP) Farmer's Market Report

For those of you who may have missed my farmers' market report, please accept my apologies and know that I have missed them, too! My fridge is empty and the cupboards are bare. I've had to survive on pantry staples and frozen entrees for the past couple of weeks.

Sadly, I've not been able to make it to the market recently due to working later than usual, and being away makes me appreciate it all the more. I can hardly bring myself to buy produce from the supermarket -- the prices are higher but the quality is not!

I can't wait to get back to the market this week to stock up on apples, pears, broccoli and greens, the remaining summer tomatoes and zucchini. I'm really looking forward to seeing squashes and other cool season favorites. I'm getting hungry just thinking about it.

Now that there's a distinct chill in the air (are the Santa Ana winds finally behind us?), I can't wait to make soups and stews and turn the oven back on for roasting. Just about everything tastes great roasted (with a little olive oil and seasoning, nothing could be easier or more satisfying)!

So I found out that it's true what they say, absense does make the heart grow fonder, and I'm looking forward to shopping tomorrow.

The Old L.A. (Highland Park) Farmers Marktet is located on Aveune 58, between Figueroa and the Meridian Way, next to the Gold Line station. There is free parking in the adjacent parking lot after 4 p.m.
See you there!
ML

MARKET STATS 10/29 - 11/4

Market activity in zip codes 90031, 90032, 90041, 90042, 90065 for October 29 through November 4, 2007 as reported in I-Tech MLS:

New listings entered

Price reductions

Reported pending

Reported sold and closed

OPEN HOUSES FOR SUNDAY NOVEMBER 4

Listing of Sunday's Open Houses from I-Tech MLS

Listing of Sunday's Open Houses from Combined L A Westside MLS

OPEN HOUSES FOR SATURDAY NOVEMBER 3

Listing of Saturday's Open Houses from I-Tech MLS

Listing of Saturday's Open Houses from Combined L A Westside MLS

Informe De las Tarifas De Hipoteca De Los Ángeles: El 1 De Noviembre Del 2007

El fed cortó el 'Fed Funds Rate' ayer y las tarifas de hipoteca en Los Ángeles fueron para arriba.

El crecimiento del GDP es el mejor que se e visto en 18 meses. Esto sugiere que la economía esté creciendo sin importar lo que nos estamos sintiendo con esta depresión de la cubierta en California.

Wall Street todavía piensa que las tarifas serán cortadas más lejos. Pero como puede ser si ayer anunciaron que esta sera la ultima vez? ¿Confuso?

Una comida feliz del cheeseburger en Mc Donalds y un galón del gas en el galón es casi dos veces más costosa que eran en 2003.  Los costos mensuales de la cubierta (pagos de hipoteca más altos incluyendo) son algunos 50% más altos que ellos eran en 2003.  Ésa puede apenas ser una medida de las mercancías de la grapa pero ése es dinero verdadero que sale del dinero suelto de los consumidores que se podría utilizar para comprar los coches, las computadoras, el etc. ¿No debe la reserva federal levantar tarifas en vez de cortar las?

No. Pienso que Ben Bernanke dibuja un paralelo entre la depresión de la cubierta de 1927 y la gran depresión de los años 30 (gracias el último a los trabajos de Milton Friedman).  Mientras que actuaba Bernanke como si no importara la depresión de la cubierta este verano, pienso que él reconoció siempre que hay un riesgo verdadero a la deflación. El miedo de una recesión profunda será la razón que él persigue éstos los cortes medidos de la tarifa.

Por supuesto, Wall Street intenta siempre a la segunda conjetura a fed (que es mudo).  Cuente con la compra continuada en el sector del enlace de hipoteca en anticipación de otro corte de la tarifa del 25%.  Esto significa que las tarifas de hipoteca en Los Ángeles serán más bajas en el futuro pero la pendiente mirará más como un perno del relámpago que una línea recta. Esto me decir que podemos reajustar nuestra recomendación de la cerradura que todos los préstamos a cautelosomente flotan.  Aquí está la estrategia para las semanas próximas:

Si usted puede conseguir un índice de hipoteca de el 6% o abajo, cerradura-en la tarifa.  Si la tarifa está sobre 6.125%, flote cautelosomente... para ahora.  Si su cierre del fideicomiso es en el plazo de 10 días, trabe la tarifa de hipoteca, sin importar qué está sucediendo.

El fed cortó el 'Fed Funds Rate' ayer y las tarifas de hipoteca en Los Ángeles fueron para arriba.

El crecimiento del GDP es el mejor que se e visto en 18 meses. Esto sugiere que la economía esté creciendo sin importar lo que nos estamos sintiendo con esta depresión de la cubierta en California.

Wall Street todavía piensa que las tarifas serán cortadas más lejos. Pero como puede ser si ayer anunciaron que esta sera la ultima vez? ¿Confuso?

Una comida feliz del cheeseburger en Mc Donalds y un galón del gas en el galón es casi dos veces más costosa que eran en 2003.  Los costos mensuales de la cubierta (pagos de hipoteca más altos incluyendo) son algunos 50% más altos que ellos eran en 2003.  Ésa puede apenas ser una medida de las mercancías de la grapa pero ése es dinero verdadero que sale del dinero suelto de los consumidores que se podría utilizar para comprar los coches, las computadoras, el etc. ¿No debe la reserva federal levantar tarifas en vez de cortar las?

No. Pienso que Ben Bernanke dibuja un paralelo entre la depresión de la cubierta de 1927 y la gran depresión de los años 30 (gracias el último a los trabajos de Milton Friedman).  Mientras que actuaba Bernanke como si no importara la depresión de la cubierta este verano, pienso que él reconoció siempre que hay un riesgo verdadero a la deflación. El miedo de una recesión profunda será la razón que él persigue éstos los cortes medidos de la tarifa.

Por supuesto, Wall Street intenta siempre a la segunda conjetura a fed (que es mudo).  Cuente con la compra continuada en el sector del enlace de hipoteca en anticipación de otro corte de la tarifa del 25%.  Esto significa que las tarifas de hipoteca en Los Ángeles serán más bajas en el futuro pero la pendiente mirará más como un perno del relámpago que una línea recta. Esto me decir que podemos reajustar nuestra recomendación de la cerradura que todos los préstamos a cautelosomente flotan.  Aquí está la estrategia para las semanas próximas:

Si usted puede conseguir un índice de hipoteca de el 6% o abajo, cerradura-en la tarifa.  Si la tarifa está sobre 6.125%, flote cautelosomente... para ahora.  Si su cierre del fideicomiso es en el plazo de 10 días, trabe la tarifa de hipoteca, sin importar qué está sucediendo.

Los Angeles Mortgage Rates Report: November 1, 2007

The Fed cut yesterday and mortgage rates in Los Angeles went up.

GDP growth is the best it's been in 18 months.  Inflation,excluding the costs of food and a gallon of gas, is tame.  This suggests that the economy is growing regardless of what we are feeling with this housing slump in California.

Wall Street still thinks rates will be cut further.  Confused?

A cheeseburger happy meal at Mc Donalds and a gallon of gas at Chevron are almost twice as expensive as they were in 2003.  Monthly housing expenses (including the higher mortgage payments) are some 50% higher than they were in 2003.  That may just be a measure of the staple goods but that is real money coming out of consumers' pockets- money that could be used to purchase cars, computers, etc.  Shouldn't the Federal Reserve be raising rates instead of cutting them?

Well...no.  I think that Ben Bernanke draws a parallel between the housing slump of 1927 and the Great Depression of the 1930's (thanks to the late Milton Friedman's works).  While Bernanke acted as if the housing slump didn't matter this summer, I think he always recognized that there is a real risk to widesperead asset deflation.  Fear of a deep recession will be the reason he pursues these measured rate cuts.

Of course, Wall Street always tries to second guess the Fed (which is dumb).  Expect continued buying in the mortgage bond sector in anticipation of yet another .25% rate cut.  This means that mortgage rates in Los Angeles will be lower in the future- but the descent will look more like a lightning bolt than a straight line. This leads me to beleieve that we can readjust our recommendation from lock all loans to cautiously float.  Here's the strategy for the next few weeks:

If you can get a mortgage rate of 6% or below, lock-in the rate.  If the rate is above 6.125%, cautiously float...for now.  If your close of escrow is within 10 days, lock the mortgage rate, regardless of what's happening.