NELA Live

Los Angeles Mortgage Rates Report: April 29, 2008

No real change in my posture.  I still believe that Los Angeles mortgage rates have room to go lower in the next 30-90 days but I'm advising clients who are closing in less than 17 days to lock. All others can float.

Mortgage-backed securities traders have "baked in" a .25% rate cut from the Fed when they meet tomorrow.  If Bernanke doesn't cut, mortgage rates will jump quickly.  This week is filled with economic data. If the data are reported weaker than the estimates, we could see lower mortgage rates in the next week.  The risk of that not happening, in this volatile market, is real so I'm sticking to the recommendation of locking your loans if you are closing before May 15.

Countrywide Financial  reported a a big loss from foreclosures while MasterCard reported huge profits.  While MasterCard doesn't actually issue the cards (they just make money from transactions), it shows that people are walking away from their mortgages and using credit cards more frequently.  Traders think that Bernanke is fixing the financial crisis in this country but those two events should give you reason to deliberate.  We're still bouncing around on choppy seas and should be through the end of the year.  I just don't see Los Angeles mortgage rates above the 6.5% level at all this year.

No real change in my posture.  I still believe that Los Angeles mortgage rates have room to go lower in the next 30-90 days but I'm advising clients who are closing in less than 17 days to lock. All others can float.

Mortgage-backed securities traders have "baked in" a .25% rate cut from the Fed when they meet tomorrow.  If Bernanke doesn't cut, mortgage rates will jump quickly.  This week is filled with economic data. If the data are reported weaker than the estimates, we could see lower mortgage rates in the next week.  The risk of that not happening, in this volatile market, is real so I'm sticking to the recommendation of locking your loans if you are closing before May 15.

Countrywide Financial  reported a a big loss from foreclosures while MasterCard reported huge profits.  While MasterCard doesn't actually issue the cards (they just make money from transactions), it shows that people are walking away from their mortgages and using credit cards more frequently.  Traders think that Bernanke is fixing the financial crisis in this country but those two events should give you reason to deliberate.  We're still bouncing around on choppy seas and should be through the end of the year.  I just don't see Los Angeles mortgage rates above the 6.5% level at all this year.

REAL ESTATE MARKET STATS 04/21 - 04/27

Real Estate Market activity in zip codes 90031, 90032, 90041, 90042, 90065 for April 21, 2008, through April 27, 2008 as reported in I-Tech MLS:

New listings entered

Price reductions

Reported pending

Reported sold and closed

These zip codes include the Los Angeles communities of Eagle Rock, Highland Park, Mount Washington, Glassell Park, Sycamore Grove, Garvanza, Montecito Heights, Cypress Park, Lincoln Heights, El Sereno, Monterey Hills, and Hermon.

OPEN HOUSES FOR SUNDAY APRIL 27

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

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

Featuring Open Houses in the Los Angeles communities of Eagle Rock, Highland Park, Mount Washington, Glassell Park, Sycamore Grove, Garvanza, Montecito Heights, Cypress Park, Lincoln Heights, El Sereno, Monterey Hills, and Hermon. 

OPEN HOUSES FOR SATURDAY APRIL 26

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

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

Featuring Open Houses in the Los Angeles communities of Eagle Rock, Highland Park, Mount Washington, Glassell Park, Sycamore Grove, Garvanza, Montecito Heights, Cypress Park, Lincoln Heights, El Sereno, Monterey Hills, and Hermon.

Memoirs of a Los Angeles Homebuyer Circa 1883

Republished from "A Southern California Paradise"  written Clniton B. Ripley, and included in a collection of essays compiled by R. W. C. Farnsworth, published in 1883, and now in public domain.

To live under one's one vine and fig-tree in a neat, comfortable home, fitted with all the conveniences of modern times, is a possibility in Los Angeles and its environs.  Houses of all kinds, from the humblest cottage to the stately mansion, are to be seen, some peeping out from luxuriant foliage, half concealed by shubbery, which is perhaps, not yet two years old; others rising grandly from soem eminence, and comparing favorably with the homes of wealth in older places.

To those seeking homes in this locality, the statement that "houses are built and homes are made"; homes made which meet the wants, real and fancied, of all who come, is not enough.  The careful man who proposes to invest his money in a home wants to know the cost of building, the kinds of building materials, where they are obtained, and many other important items, which this writer, having practical knowledge of the subject, will endeavor to furnish.

I would first attempt to correct the erroneous impression which seems to have gone out over the many States from which we derive our population, that any kind of a shelter is sufficient for a house in Southern California.  It is true that from April to October rains rarely ever fall, and the shade of a tree many suffice for a shelter; but this is not a home.  It may do for a brief period while a house is being erected, but will not prove satisfactory for a very long time, unless the gypsy yearning develops faster than usual.

Los Angeles Mortgage Rates Report- April 21, 2008

What a wild week this past one was for Los Angeles mortgage rates.  On April 14, 2008, I advised folks who were closing in the month of April to lock rates; mortgage bonds plummeted from 101 to 99.5.  If you were closing in April and didn't lock your mortgage rate, it would have cost you about 1.5% in discount points to get that same mortgage rate, on Thursday- that's $7,500 extra in closing costs for a $500,000 loan!

I also advised that all May closings float. Mortgage bond prices rebounded to 100.5 today; I still think there's room for upside in the mortgage bond market which means lower mortgage rates.  I don't have high hopes for the American economy through the summer.  The foreclosures, weak housing prices, and credit crunch have closed the consumer's "virtual ATM ".  Higher food and fuel prices are starting to take a bite out of the consumers' budget.  A gallon of gas and a gallon of milk both cost in excess of $4. In past years, a homeowner would suck it up and throw the money on his HELOC.  Now, with HELOCs frozen, the consumer has to tighten his belt.

The consumer drives much of the American economy so his tightened belt means less spending.  That should hurt this economy until we see the banks loosen up a bit.

Will we see lower mortgage rates in May?  I think so but the volatility of the mortgage bonds market still compels me to advise Los Angeles home buyers to lock their mortgage rates for transactions closing within 14 days.  All longer closings should float...for now.

What a wild week this past one was for Los Angeles mortgage rates.  On April 14, 2008, I advised folks who were closing in the month of April to lock rates; mortgage bonds plummeted from 101 to 99.5.  If you were closing in April and didn't lock your mortgage rate, it would have cost you about 1.5% in discount points to get that same mortgage rate, on Thursday- that's $7,500 extra in closing costs for a $500,000 loan!

I also advised that all May closings float. Mortgage bond prices rebounded to 100.5 today; I still think there's room for upside in the mortgage bond market which means lower mortgage rates.  I don't have high hopes for the American economy through the summer.  The foreclosures, weak housing prices, and credit crunch have closed the consumer's "virtual ATM ".  Higher food and fuel prices are starting to take a bite out of the consumers' budget.  A gallon of gas and a gallon of milk both cost in excess of $4. In past years, a homeowner would suck it up and throw the money on his HELOC.  Now, with HELOCs frozen, the consumer has to tighten his belt.

The consumer drives much of the American economy so his tightened belt means less spending.  That should hurt this economy until we see the banks loosen up a bit.

Will we see lower mortgage rates in May?  I think so but the volatility of the mortgage bonds market still compels me to advise Los Angeles home buyers to lock their mortgage rates for transactions closing within 14 days.  All longer closings should float...for now.

REAL ESTATE MARKET STATS 04/14 - 04/20

Real Estate Market activity in zip codes 90031, 90032, 90041, 90042, 90065 for April 14, 2008, through April 20, 2008 as reported in I-Tech MLS:

New listings entered

Price reductions

Reported pending

Reported sold and closed

These zip codes include the Los Angeles communities of Eagle Rock, Highland Park, Mount Washington, Glassell Park, Sycamore Grove, Garvanza, Montecito Heights, Cypress Park, Lincoln Heights, El Sereno, Monterey Hills, and Hermon. 

Government Work: Research Links

Useful Research Links from the US Government:

• General GPO Access - One stop access to thousands of publications from the Government Printing Office.
• General FirstGov - Web portal with information by topic for citizens, researchers, government employees and others.
• Science Science.gov - a gateway to authoritative selected science information provided by U.S. Government agencies, including research and development results.
• Census American Factfinder - Where you want to go for population and demographic information and anything to do with Census EXCEPT Genealogy.
• Statistics Fed Stats - Numbers on nearly everything.
• Congress THOMAS - current federal legislation
• GAO Reports Government Accountability Office Topic Search - Nonpartisan reports on government operations browseable by topic.
• CRS Reports Open CRS - Brings together reports on many topics of interest done by the non-partisan Congressional Research Service.
• Directory US Government Manual - Learn more about the structure of our government and locate government contacts.

And more...

• National Security Archives Freedom of Information Act (FOIA) Guide - Did you know that most government information is neither classified nor published? But you can ask agencies to provide unpublished information provided it isn't exempted from disclosure.
• List of Federal FOIA contacts - Once you learn how to make a FOIA request, find out where to file one. Site also has links to "FOIA Reading Rooms" where you can find previously disclosed information.
• Daniel Cornwall's guide to finding State government information. 

OPEN HOUSES FOR SUNDAY APRIL 20

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

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

Featuring Open Houses in the Los Angeles communities of Eagle Rock, Highland Park, Mount Washington, Glassell Park, Sycamore Grove, Garvanza, Montecito Heights, Cypress Park, Lincoln Heights, El Sereno, Monterey Hills, and Hermon.

OPEN HOUSES FOR SATURDAY APRIL 19

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

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

Featuring Open Houses in the Los Angeles communities of Eagle Rock, Highland Park, Mount Washington, Glassell Park, Sycamore Grove, Garvanza, Montecito Heights, Cypress Park, Lincoln Heights, El Sereno, Monterey Hills, and Hermon.

Juanita's At La Casa Blue

La Casa Blue, Food & Bar has joined forces with Juanita's Restaurant in Eagle Rock.

Juanita's Restaurant in Eagle Rock has moved in with La Casa Blue bring you a great beer and wine selection along with Juanita's twenty years of experience creating gourmet Mexican food. The 2008 recession and the new high cost of doing business gave both restaurants the opportunity to combine forces and bring the Highland Park community an even better gathering spot.

Now open for lunch and dinner, Tuesday thru Sunday. Free Delivery with minimum order.

Our new Happy Hour buffet is a great way to sample some of the fifteen house plates while enjoying a pint from our imported draft beer collection.

Click here for our new Menu

Juanita's at La Casa Blue
5930 York Blvd.
Los Angeles CA 90042
Phone: 323-254-4200
www.lacasablue.com

Memoirs of a Los Angeles Homebuyer Circa 1874

Republished from "A Southern California Paradise"  written by an anonymous author and included in a collection of essays by R. W. C. Farnsworth, published in 1883, and now in public domain.

An Early Settler's Experience

I arrived in Los Angeles in June, 1874, in feeble health.  Could find no house to go into, so concluded to camp until I could get a small house built.  A carpet thrown over a limb of our big oak made a fine tent, and in that I lived with wife and daughter a jolly life for six weeks.  By that time I had grown strong enough to "grub up" greasewood for fuel supply.  When we finally got into our "board and battened" fourteen by twenty house, I could not for several nights sleep comfortably in it; it felt too close, although at first we had only blankets in place of doors and windows.  This little house, intended to serve for only a year or two, is still, after nine years, our only shelter, we having added to it small porches, a shed here, and a little room there.

One great advantage of these cheap houses is the ease with which you can make changes about them, -- put in a new window, change a door from one place to another, cut through a partition to open communication between rooms, or close up others.  Saw, hammer, nails, and ordinary skill are all that are required.  No cleaning up or repairing of plastering about it.  Another advantage is the good ventilation these cloth ceilings afford (perhaps sometimes a little too much for delicate constitutions.)  However, the heat from an oil stove has been all that was necessary to make our room comfortable during the coldest weather we have had.

Editor's note:  Inspired by this post, Rob Mendel, webmaster of the Historic Highland Park Neighborhood Council web site,  created a slideshow of tent homes in the early 1900s.  You can check it out here:  http://www.historichighlandpark.org/modules/xcgal/displayimage.php?pid=57&album=8&pos=0
Note: you must register to access the Neighborhood Council site ... registration is free, and there is a lot of great information.

State of the City Address, Monday 4/14 at 5:00PM

Mayor Villaraigosa will deliver his annual State of the City Address TODAY, Monday, April 14, 2008 at 5:00 PM.

To see a live webcast of the Mayor's speech use this link:
http://mayor.lacity.org/multimedia_vid.htm

Transcript of the 2008 State of the City address:  http://www.lacity.org/mayor/myrspeeches/mayormyrspeeches280952161_04142008.pdf

Archive of transcripts of previous speeches:  http://mayor.lacity.org/pr_speech.htm

Los Angeles Mortgage Rates Report: April 14, 2008

I'm still floating mortgage rates, unless my clients are closing within 14 days.  I'm cautiously floating because of the volatility in the market.  Fundamentally, mortgage rates shouldn't have a whole lot more room to come down; the Fed cuts are probably coming to an end.  Something much more drastic than the Fed open market activities will be needed to pull us out of the recession.

Yep.  I said the R word and have been since last fall.  I'm not scared of the recession; I welcome it.  Here's the trick for mortgage rates.  The weak dollar has world investors believing that the Fed's easy money policy is inflationary...

UNTIL...

the recession hits them.  Make no mistake about it, the economic slowdown is a global phenomenon.  Canada and the UK are following suit by cutting rates.  I think the world wide recession will lower oil prices and provide some much needed relief to the American consumer.

Nothing says it like pictures.   I'll show you some charts, to see how I'm thinking. 

One Month FHLMC 5/1 ARM Mortgage Rates

Look at the one-month rate chart (linked above).  We were at 5.5%, on March 13, 2008.  We rose to 5.7%, on March 30, 2008, and declined to 5.6%, today.

Something's wrong! 

Look at the one month mortgage-backed securities market!  It doesn't look like a mirror.  The bond prices have advanced but the mortgage rates haven't come down.   The mortgage rate (for the 5/1 ARM) should be down to 5.3% (or lower).

That's signaling one of two things:  lower bond prices, this week, or lower mortgage rates, this week.  I think the recessionary fears will keep mortgage bond prices high, so I'm opting for lower mortgage rates.

This is what an experienced mortgage planner does on the weekend. Why?  To get you the best rate execution, of course.  The value of an experienced mortgage planner can save you thousands of dollars by knowing WHEN to lock and when NOT to lock your mortgage rate.  Call me at 858-777-9751 to find out how it can benefit you.

I'm still floating mortgage rates, unless my clients are closing within 14 days.  I'm cautiously floating because of the volatility in the market.  Fundamentally, mortgage rates shouldn't have a whole lot more room to come down; the Fed cuts are probably coming to an end.  Something much more drastic than the Fed open market activities will be needed to pull us out of the recession.

Yep.  I said the R word and have been since last fall.  I'm not scared of the recession; I welcome it.  Here's the trick for mortgage rates.  The weak dollar has world investors believing that the Fed's easy money policy is inflationary...

UNTIL...

the recession hits them.  Make no mistake about it, the economic slowdown is a global phenomenon.  Canada and the UK are following suit by cutting rates.  I think the world wide recession will lower oil prices and provide some much needed relief to the American consumer.

Nothing says it like pictures.   I'll show you some charts, to see how I'm thinking. 

One Month FHLMC 5/1 ARM Mortgage Rates

Look at the one-month rate chart (linked above).  We were at 5.5%, on March 13, 2008.  We rose to 5.7%, on March 30, 2008, and declined to 5.6%, today.

Something's wrong! 

Look at the one month mortgage-backed securities market!  It doesn't look like a mirror.  The bond prices have advanced but the mortgage rates haven't come down.   The mortgage rate (for the 5/1 ARM) should be down to 5.3% (or lower).

That's signaling one of two things:  lower bond prices, this week, or lower mortgage rates, this week.  I think the recessionary fears will keep mortgage bond prices high, so I'm opting for lower mortgage rates.

This is what an experienced mortgage planner does on the weekend. Why?  To get you the best rate execution, of course.  The value of an experienced mortgage planner can save you thousands of dollars by knowing WHEN to lock and when NOT to lock your mortgage rate.  Call me at 858-777-9751 to find out how it can benefit you.

MARKET STATS 04/07 - 04/13

Real Estate Market activity in zip codes 90031, 90032, 90041, 90042, 90065 for April 7, 2008, through April 13, 2008 as reported in I-Tech MLS:

New listings entered

Price reductions

Reported pending

Reported sold and closed

These zip codes include the Los Angeles communities of Eagle Rock, Highland Park, Mount Washington, Glassell Park, Sycamore Grove, Garvanza, Montecito Heights, Cypress Park, Lincoln Heights, El Sereno, Monterey Hills, and Hermon. 

Highland Park Heritage Trust 4/14 Program Meeting

Highland Park Heritage Trust
Monday, April 14, 2008
7PM to 9PM Ramona Hall
4800 Figueroa Street
Program Meeting

Presentation by McCormack, Baron and Salazar, Developers for the affordable housing units in Highland Park and other nearby properties

Highland Park has an impressive history to preserve. The process is flawed so the populace must set things right! Come with fresh ideas and opinions.  Do you have a greener, friendlier, project plan?
Plenty of light and access to green space means healthier families.  Density and faux Mediterranean styling are not synonymous.  Massive structures are out of character for Highland Park.  "When will they ever learn..."

Carmela Gomes, President of the Board
323-257-1900
cngomes@quixnet.net

OPEN HOUSES FOR SUNDAY APRIL 13

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

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

Featuring Open Houses in the Los Angeles communities of Eagle Rock, Highland Park, Mount Washington, Glassell Park, Sycamore Grove, Garvanza, Montecito Heights, Cypress Park, Lincoln Heights, El Sereno, Monterey Hills, and Hermon.

natura: mythology, spirit, memory

Pat Gomez • Karen Bonfigli • Andrés Montoya

Opening night reception:  Saturday, April 12, 2008 from 7-10 pm

In a time of growing global awareness, we are now often reminded that humanity affects this biosphere we call home.  It serves us all to take time to contemplate the footprint we leave behind.  Join us in a poetic journey reflecting our relationship to our Earth.

We will be partnering with the organization,  A Million Trees during our Second Saturday opening, and giving away 1 gallon and 5 gallon trees. Please consider taking home one or more trees to plant in your garden or give as gifts.

When:            Saturday, April 12, 2008 from 7-10 pm
Where:           Avenue 50 Studio, 131 No. Avenue 50, Highland Park, CA  90042
Contact:        Kathy Gallegos, Director, 323/258-1435
Duration:       April 12 -- May 4, 2008

www.avenue50studio.com <http://www.avenue50studio.com>

OPEN HOUSES FOR SATURDAY 4/12

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

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

Featuring Open Houses in the Los Angeles communities of Eagle Rock, Highland Park, Mount Washington, Glassell Park, Sycamore Grove, Garvanza, Montecito Heights, Cypress Park, Lincoln Heights, El Sereno, Monterey Hills, and Hermon. 

Capoeira Angola demonstration at the Arroyo Seco Library

Come to a Capoeira Angola demonstration at the Arroyo Seco Library on Saturday, April 19 at 12:00.

The Associação de Capoeira Corpo e Movimento together with Brazilian Cultural Foundation is offering a presentation of the fight-dance known as Capoeira Angola. Capoeira is performed with percussion instruments (berimbau, pandeiro, atabaque, reco-reco, and agogô).

No pictures or video will be permitted. The event is free and open to the public. For more information, contact the presenter, Professor Jim, at capoeirala@com or 626-975-5494. To read about his  organization and services visit www.capoeirala.com and www.brazilianculturalfoundation.org.

The Arroyo Seco Library is located at 6145 N. Figueroa St. and our phone number is 323-255-0537.

Street View for NELA now live on Google Maps

The "street view" function on Google Maps is now live for Northeast Los Angeles.

Go to http://maps.google.com/

Type in an address, and click "Search Maps", then when Google serves up the map, click on one of the "street view" links, and enjoy.

Art Gallery Night Saturday April 12

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, April 12, from 7PM - 10 PM.   Wrap up the evening with food and drinks at La Casa Blue or Mr. T's Bowl.

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

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

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

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

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, April 12, from 7PM - 10 PM.   Wrap up the evening with food and drinks at La Casa Blue or Mr. T's Bowl.

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

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

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

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

JACKSON BROWNE TO PERFORM AT LUMMIS DAY FESTIVAL

BROWNE’S NEW ALBUM JACKSON BROWNE – SOLO ACOUSTIC,
VOL. 2 WAS RELEASED MARCH 4;
BROWNE IS TOURING THE U.S. THROUGH APRIL

Los Angeles, CA, April 4, 2008: Singer-songwriter Jackson Browne will perform at the third annual Lummis Day: The Festival Of Northeast Los Angeles, on Sunday, June 1. His appearance acknowledges his own roots in the area during the years he grew up in Highland Park. Lummis Day festivities, which take place at Lummis Home and Sycamore Grove Park in Highland Park, are free and open to the public and will run from 10:30AM-7PM.

The event celebrates the diverse cultures, spirit and history of L.A.’s Northeast Arroyo neighborhoods with a wide variety of food, music, art, poetry and dance. Nationally and regionally renowned artists will perform in English, Spanish and Tagalog. Browne’s set is scheduled for 6PM.

“Lummis Day” takes its name from Charles Fletcher Lummis, who became the L.A. Times’ first city editor in 1876, founded the Southwest Museum, and championed the concept of multi-culturalism in Southern California. The 2008 Festival is presented by the Annenberg Foundation and the Autry National center, and is sponsored by the Neighborhood Councils of Arroyo Seco, Eagle Rock, Historic Highland Park and Greater Cypress Park as well as the Department of Recreation and Parks, the Arroyo Seco Journal, KPFK-FM 90.7, KMEX-TV, SIPA, the North Figueroa Association with support from Los Angeles City Council Districts 1 and 14 and other arts and community organizations. The Lummis Day Community Foundation intends the event as a coalition builder among the area’s cultural, commercial and  community resources that will create a framework for growth and progress in Northeast Los Angeles.

Jackson Browne’s Lummis Day performance follows a two-month nationwide tour of solo acoustic concerts that includes several Southern California dates in late April. The tour supports the March 4 release of JACKSON BROWNE–SOLO ACOUSTIC, VOL. 2, the second in a series of live albums recorded at recent solo shows in the U.S., the U.K. and Australia. Released on Browne’s own Inside Recordings label, it follows up 2005’s GRAMMY®-nominated Jackson Browne – Solo Acoustic, Vol. 1, and features twelve career spanning songs, with Browne alternately on both guitar and piano.

The collection reaches all the back to Browne’s self-titled 1972 debut album with the song “Something
Fine,” and comes full circle with four tracks from his most recent studio album, 2002’s The Naked Ride Home, including the politically charged “Casino Nation.” Other highlights include “Redneck Friend” from
Browne’s second album, For Everyman, “In The Shape Of A Heart,” from 1987’s Lives In The Balance, “Sky Blue And Black” from 1993’s I’m Alive, “Alive In This World” from ’96’s Looking East and the Top 10 hit “Somebody’s Baby,” originally released on the Fast Times At Ridgemont High soundtrack.

In his four-star review of JACKSON BROWNE–SOLO ACOUSTIC, VOL. 2 for Rolling Stone Magazine, Anthony DeCurtis wrote, “Between songs, Browne speaks about his life and music with moving candor…This is Browne at his best, engaging his audience, his own experiences and the world around him, all in songs that will not lose their resonance any time soon.”

For tour dates and more information, log on to www.jacksonbrowne.com

For up-to-date info on Lummis Day, log on to www.lummisday.org.

####

Contact: Meghan Helsel at 626-585-9575

Old L.A. (Highland Park) Farmers Market - April 3, 2008

Comparing apples and oranges..... Well, maybe you are not "supposed" to do this, but it sure tastes good if you do. Last week, the farmers market was bursting with apples of all kinds and citrus of all kinds, including oranges, kumquats, grapefruit and -- my personal favorite -- blood oranges. I brought home a bag of each to snack on through the week. The apples are sweet and crunchy. The citrus is tart an juicy. There's no need to choose between them -- you need some of each!

This time of year, I love to add chopped up apples to salads. In our cool but not cold, warm but not hot, Southern California spring climate, big, meal-sized salads are really satisfying for lunch or dinner. I love adding chopped fruit and nuts to them to make them even more substantial and filling. The apples that dominate at the farmers market right now are called Pink Ladies -- even the name is delicious! -- and they are crisp and sweet. These are perfect in a salad along with some walnuts, chopped celery and leafy greens -- all of these items can be found at the farmers market within just a few yards of each other.  You can whip up a complimentary dressing using walnut oil and cider vinegar to add layers of nutty fruitiness to the flavors.

The fabulous citrus available this time of year brightens the longer days with intense flavor and color. Blood oranges, with their ruby colored fruit and juice, look at wonderful as they taste. The juice is refreshing to drink when fresh squeezed or it can be reduced down to a light glaze on the stovetop to use as a sauce on poultry or even ice cream! Kumquats are my personal favorite. This time of year I carry around a small bag of kumquats wherever I go and pop them in my mouth whole for a juicy, zingy snack. The peels are so thin and have so much flavor, it's like eating candy with an edible wrapper. I can easily eat a dozen in a brief amount of time. Grapefruits are also abundant at this time of year and add another dimension to the fruit bowl. You can sprinkle some sugar on the cut side of a halved grapefruit and then stick it under the broiler for a minute or two until the sugar carmelizes into a sweet and cruchy crust on the fruit.

In addition to apples and citrus, the market is bursting with other produce, such as asparagus, broccoli, eggplant and green beans, as well as nuts, cheeses, oils and vinegars. There is a week's worth of groceries right at your fingertips on Tuesday evenings from 3 - 7 p.m. on Avenue 56, between Figueroa and Marmion Way, right next to the Gold Line station. Parking in the lot is FREE after 4 p.m., or save some gas money and take the train or a bus.

See you there!
ML

MARKET STATS 04/01 - 04/06

Real Estate Market activity in zip codes 90031, 90032, 90041, 90042, 90065 for April 1, 2008, through April 6, 2008 as reported in I-Tech MLS:

New listings entered

Price reductions

Reported pending

Reported sold and closed

These zip codes include the Los Angeles communities of Eagle Rock, Highland Park, Mount Washington, Glassell Park, Sycamore Grove, Garvanza, Montecito Heights, Cypress Park, Lincoln Heights, El Sereno, Monterey Hills, and Hermon.

OPEN HOUSES FOR SUNDAY APRIL 6

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

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

Featuring Open Houses in the Los Angeles communities of Eagle Rock, Highland Park, Mount Washington, Glassell Park, Sycamore Grove, Garvanza, Montecito Heights, Cypress Park, Lincoln Heights, El Sereno, Monterey Hills, and Hermon. 

Art Reception - Natura

natura:  mythology, spirit, memory

Pat Gomez • Karen Bonfigli • Andrés Montoya

Opening night reception:  Saturday, April 12, 2008
from 7-10 pm

The Avenue 50 Studio is proud to present a thematically charged exhibition of art by three Los Angeles artists:  Pat Gomez, Karen Bonfigli, and Andrés Montoya.  These intuitive observers of nature create a poetic journey reflecting our relationship to Earth, juxtaposing our contemporary world with one we’re in danger of losing.  Three separate perspectives towards nature as lost, possible loss and salvation.  Beauty, though, rather than apocalypse is being honored, holding on to the desire that humanity does not see itself separate from nature.

Pat Gomez believes that all living things have an energy force that we can choose to tap into and embrace, avoid, utilize or ignore.  Drawn to nature on a spiritual level, she utilizes the process of art making to connect to these unseen forces. Pat imagines natural forces as icons, totems, or shields, in a way creating portraits of the elements to empower and give tribute.

Karen Bonfigli creates personal mythologies through the exploration of indigenous fauna and flora.  She has created a site-specific narrative installation interpreting the iconography of the ancient bird, the Condor, and the Scrub Jay as the sower of future generations.

Andrés Montoya sees this time as dire, every minute we loose a part of nature and in some cases, with irreparable consequences. Will nature become just a memory? His skyscapes carry a message of  personal connection within all of us to embrace, protect and preserve for future generations the wonder that nature as clouds carry through our fragile planet.

Join us in a reflection of the natural world through mythology, spirit, and memory.  In a time of growing global awareness, we are now often reminded that humanity affects this biosphere we call home.  It serves us all to take time to contemplate our own footprint that we leave behind on planet earth.

We will be partnering with the organization,  A Million Trees during our Second Saturday opening, and giving away 1 gallon, 5 gallon and 10 gallon trees.

Please consider taking home one or more trees to plant in your garden or give as gifts.

When:            Saturday, April 12, 2008 from 7-10 pm
Where:           Avenue 50 Studio, 131 No. Avenue 50,
Highland Park, CA  90042
Contact:        Kathy Gallegos, Director, 323/258-1435
Duration:       April 12 -- May 4, 2008

www.avenue50studio.com <http://www.avenue50studio.com>

Kathy GallegosAvenue 50 Studio131 No. Avenue 50Highland Park, CA  90042(323) 258-1435

Los Angeles Mortgage Rates Report- April 2, 2008

Mortgage rates should decline, in the near term.  I'm changing my recommendation from lock all loans to float all mortgage applications, if the loan is closing more than 14 days out.  That means that if you're scheduled to close on your mortgage, before April 15, 2008, you should lock your mortgage rate.

Fed Chairman Bernanke spoke to Congress this morning.  I'm one of those weird people that actually watch the Fed Chairman's testimony.  I look for a twitch, a nervous tic, or a tenuous posture, in addition to the text of his testimony.  I'm as screwed up as the bond traders on Wall Street.  That was my world; I can't change who I am now.  Well, Bernanke thinks a "contraction" is underway. In Southern California, we call that a recession but we're awfully dramatic in Southern California.  Anyway, recessions contractions lead to lower mortgage rates.

Want to see how effective my lock/float recommendations are?  It looks like I'm always a tad early:

Let's see:

1- I came into the new year, floating rates. 
2-  On January 8, I advised to lock.  I was early, you could have improved your rate by an eighth.
3-  I floated on January 17- bonds improved a full point, then dropped a half a point
4-   Pulled the trigger to lock, on January 24- bonds deteriorated- rates went up.
5-  Stayed locked (but pointed out the ten-year ARM value) throughout February
6-  Went to float, on March 6- bonds improved 3 points, and mortgage rates fell .5%, during that time
7- Have had all loans locked, since March 21-

I'm not bragging, I'm doing my job.  The value of a mortgage planner, who watches the CORRECT influencing factors, can save you an eight to a quarter point, on the rate of  your mortgage.  This means that my advice can save you THOUSANDS of dollars, over the life of the loan.

If you're watching the "points", a stronger bond market can save you a lot of money, on closing costs.  Clients who made an application, on March 8, received a 2% rebate, from the lender, because of my prowess, by waiting until March 21 to lock.  Even worse, those loan applicants that didn't engage me, in February, may have paid as much as 2% MORE, in closing costs, than my clients.

Advice and execution is the value of a skilled mortgage planner.  Ask originators to prove the value of their fee before you hire them.  I'll gladly do just that.

Mortgage rates should decline, in the near term.  I'm changing my recommendation from lock all loans to float all mortgage applications, if the loan is closing more than 14 days out.  That means that if you're scheduled to close on your mortgage, before April 15, 2008, you should lock your mortgage rate.

Fed Chairman Bernanke spoke to Congress this morning.  I'm one of those weird people that actually watch the Fed Chairman's testimony.  I look for a twitch, a nervous tic, or a tenuous posture, in addition to the text of his testimony.  I'm as screwed up as the bond traders on Wall Street.  That was my world; I can't change who I am now.  Well, Bernanke thinks a "contraction" is underway. In Southern California, we call that a recession but we're awfully dramatic in Southern California.  Anyway, recessions contractions lead to lower mortgage rates.

Want to see how effective my lock/float recommendations are?  It looks like I'm always a tad early:

Let's see:

1- I came into the new year, floating rates. 
2-  On January 8, I advised to lock.  I was early, you could have improved your rate by an eighth.
3-  I floated on January 17- bonds improved a full point, then dropped a half a point
4-   Pulled the trigger to lock, on January 24- bonds deteriorated- rates went up.
5-  Stayed locked (but pointed out the ten-year ARM value) throughout February
6-  Went to float, on March 6- bonds improved 3 points, and mortgage rates fell .5%, during that time
7- Have had all loans locked, since March 21-

I'm not bragging, I'm doing my job.  The value of a mortgage planner, who watches the CORRECT influencing factors, can save you an eight to a quarter point, on the rate of  your mortgage.  This means that my advice can save you THOUSANDS of dollars, over the life of the loan.

If you're watching the "points", a stronger bond market can save you a lot of money, on closing costs.  Clients who made an application, on March 8, received a 2% rebate, from the lender, because of my prowess, by waiting until March 21 to lock.  Even worse, those loan applicants that didn't engage me, in February, may have paid as much as 2% MORE, in closing costs, than my clients.

Advice and execution is the value of a skilled mortgage planner.  Ask originators to prove the value of their fee before you hire them.  I'll gladly do just that.