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December 2008

Center for the Arts Holiday Sale

Erartcenterholidaysale

It's a gorgeous day, come over for some holiday vibe and stroll through the holiday sale at the Center for the Arts, Eagle Rock at 2225 Colorado Blvd.  Los Angeles CA 90041.
There's free parking at B of A.  We'll have live music starting with Harp and ending with Acoustical Rock and a little piano, flute, and folk in between & yummy holiday treats!  Over 20 participating vendors, so you can get great gifts for yourself and others! 

Only bummer, the clown is sick, so no face painting....but clowns are scary anyway!
However.....we might have a Mime show up.....and of course the bunny will make an appearance.
Hope you will too! 


Year end bonfire

Every year about this time, I think about this.

There are dozens of boxes of old files and documents and stuff ready to be shredded at the end of the year.

I think it would be more fun to burn them.

In fact, I'd love to have a community bonfire to dispose of all this stuff.  A celebration in the style of Burning Man.

One special day would be designated.  The city could close off some streets, designate a large parking lot, or other concrete area for fire safety.  The fire department could stand by in case of any problem.

People would bring their boxes of old stuff to burn, and toss it all into the bonfire.

Imagine how good that would feel, seeing old love letters, old income returns, and other old crap go up in flames.

A street fair or festival could be scheduled around the event.

Yeah, I like the idea alot.


Arroyo Arts Collective: Re-Discovery Weekend

Rediscoverytour

Artists represented above:  Martin Waterman, John Byram, Bill Johnson, Kikki Eder, LT Mustardseed, Brian Mallman, Sonio Romero, Rick Swallow, George McClements, Ted Waltz

Only 1 more day until the Re-Discovery Tour, the Arroyo Arts Collective's 16th annual showcase of artists' homes and studios in the Northeast L.A. communities of Highland Park , Mt. Washington and Eagle Rock.

To maximize your tourgoing experience, you can go by Future Studio today, Saturday, November 22, Noon to 5 p.m. to view representative artwork from some of the 141 artists on the Tour (up from 100 last year). This is a great opportunity to buy your tickets, plan your visits for the next day and  visit Chicken Boy. Future Studio is at 5558 N. Figueroa Street, Highland Park, 90042.

Once again, the Re-Discovery Tour details:
WHEN:   Sunday, November 23
WHERE: The Re-Discovery Tour begins at the Lummis Home, 200 East Avenue 43, Los Angeles, 90031 (entrance on Carlota). Gates at the Lummis open at 9:30 a.m. Artists' studios are open 10 a.m. to 5 p.m.

This is where you pick up your map, decide your route, and either start some serious walking, get on your bicycle, get in your car or get on a shuttle to visit some of the 60+ studios and homes open just for you.

We look forward to seeing you.


Le Beaujolais nouveau est arrivé

Beaujolais Nouveau is a very mild, light-bodied wine made from Gamay Noir √† Jus Blanc grape, better known simply as Gamay.   By French law, Beaujolais Nouveau cannot be released before midnight on the third Thursday in November.

So it follows, that the third Thursday of November has grown into a day of celebration:  The first uncorking of the first wine of the season.

Local French restaurant Cafe Beaujolais in Eagle Rock hosts an annual Beaujolais Noveau celebration that has become a tradition for many residents.

More on Beaujolais Day:

Here and Here

Pat Barr,  a remarkable woman, and a long time friend, is now an associate at Bob Taylor Properties.  Here is Pat's post of our Beaujolais Nouveau celebration:

http://patriciabarr.spaces.live.com/default.aspx

   


Los Angeles Mortgage Rates Report: November 19, 2008

The economy is really sick:

Today's CPI report signals deflation, or a prolonged price slide, may become another hazard facing Federal Reserve Chairman Ben S. Bernanke and President-elect Barack Obama. Deflation could worsen the economic downturn by making debts harder to pay off and countering the impact of Fed interest-rate cuts. 

   

``The economy's really just in horrific shape,'' said Joseph LaVorgna, chief U.S. economist at Deutsche Bank Securities in New York. Fed officials will ``take rates as low as they have to'' to avoid ``a deflation-type scenario, which now all of a sudden is very possible.''   

   

LaVorgna predicts the Fed will cut its main rate to 0.5 percent from its current 1 percent when it meets on Dec. 16.   

       

Fed Vice Chairman Donald Kohn said today that while the risk of deflation is ``still small,'' policy makers must be ``aggressive'' in fighting the danger. The economy ``is declining right now'' and will record a couple of quarters of contraction, he said in answering questions after a speech in Washington.   

   

Fed policy makers last month forecast the U.S. economy will contract through the middle of 2009, with some officials prepared to cut interest rates further in response, according to a record of the group's meeting.

If the Fed's thinking of cutting rates further, why aren't mortgage rates going down? I think it's because the Fed has done all it can do.  Future rate cuts are like that eighth scotch.  Drinking that eighth scotch isn't going to make you feel any better than the seven prior.  It just might make you feel worse.

I advised folks, right after the election, to lock loans with rates under 6% if they were closing within 30 days. Today, I"m suggesting that you lock any loan that is closing this year.  Today, a 45-day lock for a 6.0% rate would costs 1.25%.  While you may see rates drop below 6% , in the next 45 days, the risk of them moving higher is greater.

Take 6% and run.


Lower Los Angeles County Loan Limits in 2009

In my 2009 San Diego Real Estate Outlook, I suggested that lower loan limits could cause a convergence of home prices.  I expect the mid-priced homes ($500,000 to $1,000,000) to decline towards the loan limits while lower priced homes (under $500,000) already dove in 2008.

Southern California Loan Limits For 2009:

Loan Type         San Diego          Orange          Los Angeles

VA                    $697,500           $729,750       $729,750      

FHA                  $546,250          $625,500        $625,500

Conforming        $546,250          $625,500        $625,500

Originally Posted on Millionaire Real Estate Lender