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May 2009

PACHAMAMA

Exclusive Mother's Day Jewelry Event at the Avenue 50 Studio

Mothers-day

Participating Jewelers/Artists: Consuelo Campos, Jaime Sabatté, Diane Gamboa, Raquel Soto Escobar, Imelda Gutierrez, Stormie, Jack Fenn, among others

Thursday, April 30, 2009
6:00 PM – 9:00 PM

Avenue 50 Studio, 2 Tracks Studio, HiTree and She Rides the Lion present a unique opportunity to honor Mother Earth, Mother’s Day and our Mother Gallery, Avenue 50!   Buy handcrafted jewelry and original artwork directly from the artists at trunk sale prices for the Mother in your life!

Free Workshop @ She Rides the Lion Printshop!
DIY: Make your own Mother's day card!
Also available, gift wrapping services

Live Entertainment:  Jarocho Music by No Que No, Fire Dance Performance, and Refreshments!

Avenue 50 Studio, Inc.
a (501)(3)(c) non-profit art gallery
131 North Avenue 50
Highland Park, CA  90042
323-258-1435
http://www..avenue50studio.com


Foreclosure Workshop

This is short notice:  A messenger just delivered flyers to our office a few minutes ago, but

Los Angeles Neighborhood Housing Services and the Los Angeles County Department of consumer Affairs are presenting a free foreclosure workshop tonight.

Wednesday April 29, at 6:30 PM

At The River Center, 570 West Avenue 26, Los Angeles, CA 90065

The workshop is sponsored by the Foreclosure Action Network, the Lincoln Heights Neighborhood Council and the Glassell Park Neighborhood Council.  For information please call:  323-600-3737


Center for the Arts Eagle Rock 7th Annual Art Auction, Pre-pay by May 1st for Discount!

7th Annual Art Auction
A Fundraiser Benefiting Center for the Arts, Eagle Rock
 
Saturday, May 9, 2009
7:00 pm-10:00 pm
Preview Week: May 5 - May 8


 
Join us for an evening of notable artwork, live music, and delicious food in Eagle Rock's historic former Carnegie Library to celebrate and support Center for the Arts, Eagle Rock - the largest non-profit community arts center serving Northeast Los Angeles!
 
♦  Silent auction of artwork from over seventy established and emerging artists
♦  Performances by acclaimed French-Latin American-gypsy jazz chanteuse Jessica Fichot
♦  A sampling of local nibbles including savory Cuban-style hors d'oeuvres by Porto's, international sweet treats by Glassell Park bakery Butter Tart, and coffee from Swork
♦  No-host wine and martini bar by Colombo's
 
 
 
Participating Artists:
Sandy Abramowicz, Fumiko Amano, Kari Atol, Tyn Atol, Sherry Rayn Barnett, Luis Beccera, Joe Biel, Joe Bravo, Hugh Brown, Elisabeth Bryant, BugHouse (Jeff Klarin and Rebecca Johnson), Mika Cho, Robbie Conal, Pete Carrillo, Dorit Cypis, Danny DelaMatyr, John Dominique, Tim Ebner, Rick Elden, Spencer Elden, Shari Enge, Shepard Fairey, Jose Fors, Jacqueline Freedman, Dwora Fried, Nathaniel Garcia, Sayre Gomez, Barbara Green, Mark Steven Greenfield, Michael Gullberg, Cidne Hart, Kevin Hass, Heather Hoggan, Yi-Ping Hou, Sara Hunsucker, Fred Hurd, Rinko Kasai Hutchins, Joan Kahn, Haven Lin Kirk, Donna Kolb, Olga Koumoundouros, Johnny Lieberman, Ronald Llanos, Sidonie Loiseleux, Maya Lujan, Marcos Lutyens, Linda Lyke, Brian Mallman, Mary Jean Mallman, Michael Markowsky, Joseph, Maruska, Siobhan McClure, Lynne McDaniel, Julie McManus, CJ Metzger, Miss Mindy, Kate Moriarty, Paul Murray, Rebecca Niederlander, John O' Brien, Angela Maria Ortiz S., Ruby Osorio, Susie Pak,  Joan Perlman, Shirley Pettibone, Tom Recchion, Ricardo Reyes, Sandy Rodriguez, Ed Ruscha, Alex Sanchez, Margie Schnibbe, Dani Tull, Andrew Uchin, Tam Van Tran, Phillip Vaughan, Liz Young and many more.
                                                                                                                   
                                                                       
 
$50 per person at the door                                                               
$40 for non-members (prepaid by Friday, May 1)
$30 for current members (prepaid by Friday, May 1)


Reservations and payment can be made by calling

Renee Dominique 323.226.1617 ext 5621 via credit card
or checks can be mailed to:

Center for the Arts, Eagle Rock
2225 Colorado Blvd. Los Angeles CA 90041

                                       
 
If you are unable to attend the auction, but would still like to support the Center, bid by proxy forms will be available.  Artwork will be on view at the Center during the preview week from 11:00a.m.-5:00p.m. or by special arrangement. Select artwork can be viewed online on Facebook.


Center for the Arts, Eagle Rock
2225 Colorado Blvd.
Los Angeles, CA 90041
323.226.1617

www.centerartseaglerock.org


FHA Mortgages Can Be Assumed By The Buyer

One overlooked benefit of FHA financing is that the buyer can assume a current FHA loan from the seller.  Essentially, this means that the existing mortgage payments can be "taken over".  I explained how an assumable FHA loan could help a seller sell a home, in the future:

Today, a FHA loan rate will be around 5%.  I believe that inflation will kick in, sometime in the next 6-18 months, causing mortgage rates to skyrocket to 6.5% or higher.  Left unchecked, inflation could drive mortgage rates into double digits by 2012.  The good news is that home prices will probably jump up, too (if runaway inflation is present).

How hard will it be to sell a house in five years, with mortgage rates at 10% ? 

Pretty tough...unless you can offer the buyer a below market interest rate.  Let's assume a Los Angeleno buys a $300,000 home today and finances $290,000 with a 5% FHA loan.  His payment will be $1,556

That same person looks to sell that home, in 2014, for $400,000 but FHA loan rates are at 10%.  The new buyer, looking to finance $385,000 at the market rate of 10%, would have a payment of $3378; that's over twice the original payment.

What would happen if the seller, held a $100,000 second mortgage, for 25 years, at 12%, and allowed the buyer to assume his 5% FHA loan?

The payment on the second mortgage would be $1,053. Add the (now) 25-year, original FHA loan, at 5% payment of $1,556 and you have a financing package that is about $900 cheaper than a $385,000 FHA loan.


Pretty slick, huh?  There are risks involved,  I outlined them further:

Even with a formal assumption, the seller is still responsible for the original loan payments for the first five years.  You had better be certain that the buyer is credit-worthy.

The seller is stuck with a note, not cash.  That note could be sold on the secondary market but prices are typically about 70 cents on the dollar; that could cost the seller some $30,000 in profit.

On balance, the FHA loan assumable feature could benefit today's buyer, looking to have "a little something extra to offer" when selling his/her home, in the future.


Los Inbetweens: Artists Sin Barrios

Los Inbetweens: Artists Sin Barrios

Curated by Armando H. Torres

Sinbarrios


“Hard to Swallow –Rigo Maldonado

Opening Night Reception: April 11, 7:00-11:00 PM

Nena Amsler
Alix Gonzales
Marvin Jordana
Rigo Maldonado
Stephanie Mercado
Albert Reyes
Guadalupe Rodriguez
Sandy Rodriguez
Shizu Saldamando
Rainbow Underhill
Angel Villanueva

With a spoken word performance on opening night by Reina Alejandra Prado Saldivar

The Avenue 50 Studio is proud to present an exhibition of 11 local artists in an exhibition curated by  Armando H. Torres.  Los Inbetweens: Artists Sin Barrios is a survey of creative individuals who have had  t deal with being in-between worlds whether due to issues regarding nationality, community, race, gender o sexuality, and how these issues have filtered into their Art.

Los Inbetweens: Artists Sin Barrios examines the tradition of the artist’s self-portrait as a means to  acess their particular concerns expressed within the work, and thus provides a systematic study of  cntemporary art, and its process by Latino/Latinas in 21st Century Los Angeles.

Los Inbetweens: Artists Sin Barrios is a direct reflection of the artist and of a defining moment within the period, and or reality, in which they currently live.

*A Catalog of the exhibition will be available for purchase on opening night.

Where:     Avenue 50 Studio, Inc., 131 N. Avenue 50, Highland Park, CA  90042.
When:      Saturday, April 11, 2009 from 7:00 pm – 11:00 pm

Gallery hours:   Tuesday-Thursday 10 am – 12 noon, Saturday and Sunday 10 am – 4 pm

April 11 - May 3, 2009

www.avenue50studio.com/ave50studio@sbcglobal.net