Homes In The Glen

The Coolest House On Caravan!

2012-02-14T22:36:00.000-08:00

1870 Mandeville Canyon Road

List Price - $5,975,000

This walled and gated Brentwood Mediterranean estate on approximately one half acre is highlighted by its exquisite setting centered about a magnificent 400 year old California Oak. The large swimming pool adjoins a spa and refreshing waterfall plus outdoor tiled entertaining area.

The main residence is an imposing one story Mediterranean originally built in 1936. It is comprised of 4 bedrooms and 6 baths. Its traditional tiled roof features several skylights, creating an open and light-filled interior with exceptionally high, pitched ceilings.

The spacious motor court plus guest house. Ideal neighborhood close to charming Brentwood Village.

KESSLER'S COMMENTS- per Scott and several other agents in my office this estate is simply stunning. It has very spacious rooms, many with soaring ceilings and exceptional upgrades. It exudes quality throughout and the grounds are lush and beautiful.

If you would like more information about this property, or would like to see it, contact Mickey Kessler of Coldwell Banker at 310-367-2322 or, the listing agent, Joyce Rey of Coldwell Banker at 310-273-3113.

Coolest House on Caravan: 142 S Canyon View Dr.

2012-02-08T13:58:00.001-08:00

142 S Canyon View Dr.
Listing Price: $9,950,000
Bedrooms: 5
Baths: 6

Remarks: A most unique concrete & glass architectural property in an exceptional setting. The property is nestled at the end of a private driveway, on a road less traveled, Canyon View Drive.

A large glass door that pivots on an African Mahogany frame & you are enveloped by the strength of the architectural symmetry & the extraordinary fluid waved ceiling. The volume & soaring ceilings lend itself to an art collection of major proportion.

The family room opens to a courtyard which wraps around to the dual offices & a two story library. The house boasts of 5 BD's and 6 BA's.

The master suite is downstairs & is

accompaniedby a large bath on one
side & closets on the other that can
close for privacy by large sliding
etched glass doors & a gym.
2 BR en suites w/patios & a large
sun deck are upstairs.

The third level downstairs has a recording studio, a guest bedroom & bath, wine cellar & parking for 10 cars. Sophistication can best describe this one of a kind home completed in 2011.

Kessler's Comments: The coolest house I have seen in a while, period. Beautifully exicuted architectural home with Middle Eastern influences. Great use of materials, termendous rooms, full of architectural eye-candy!

Coolest House On Caravan: 1909 S Crest Dr

2012-01-31T19:17:00.001-08:00

1909 S Crest Dr.

Los Angeles, CA 90034

3 bedrooms, 2 1/2 baths

Listing Price: $939,000

Delightful, turn-key 2 bedroom + den (or 3 bedroom)/ 2.5 bath traditional in Beverlywood Homeowner's Association.

Inviting, sun-filled living room with picture window, fireplace & custom mantel. Formal dining room & eat-in gourmet kitchen with granite counter tops & stainless steel appliances.

Hardwood floors, crown moldings, recessed lighting, copper plumbing and central AC. Private grassy yard and detached home office.

Coolest House on Caravan: 1631 Warnall Ave.

2012-01-25T12:24:00.000-08:00

1631 Warnall Ave., Los Angeles, CA 90024

3 bedrooms/ 1.75 bathrooms

Listing Price: $1,399,000

Remarks: Magical, vine-covered, single-level, storybook Traditional in Westwood's most coveted Comstock Hills neighborhood. Finely crafted and original detailing with moldings, wainscoting, lustrous hardwood floors.

Sensational newer gourmet kitchen with Travertine counters and breakfast bar. Elegant dining room off formal entry. Classic fireplace in Family-Living room with newer a/c, redone baths.

New French doors to charming grassy backyard with two-car garage presently being used for storage. New patio for outside entertaining. Block to Century City Mall. Dramatic city light views from Living & Dining Rooms.

Kessler's Comments: This home is exceptionally charming! It was very nicely staged, and is very well priced.

If you have any questions about this property, or are interested in seeing it, please feel free to contact Mickey Kessler - cell: (310)367-2322, email: mkessler@verizon.net

Coolest House on Caravan: 2252 Linnington Ave

2011-11-02T10:55:00.000-07:00

2252 Linnington Ave
2 bedrooms, 2.5 Bathrooms
Listing Price: $1,149,000

Kessler's Comments: The house is located on a wonderful quiet street in the south of Santa Monica neighborhood in Westwood. This home is in exceptional condition, has a very serviceable floor-plan, and exudes a lot of charm and class. Truly in move-in condition!

MLS Remarks: Elegant and dramatically decorated Traditional 2 bed + 2 1/2 bath + den with converted garage. Step into this emotional home and enjoy the formal entry, living room with large windows & fireplace, cozy den with fireplace and french doors to the backyard & large deck.

Experience the remodeled kitchen with top of the line appliances and light filled breakfast area. Bathrooms are beautifully remodeled with designer finishes. Spacious Master suite with French doors to backyard and deck, travertine finishes in bathroom and large walk-in closet.

Complete sound system throughout with volume controls in each room and backyard. Large deck for entertaining and private lush backyard. Garage has been converted with french doors, excellent office storage, A/C and heat. Other features include hardwood floors & alarm system.

If you are have any questions or would like to see this home, feel free to give Mickey a call! (310)367-2322, or email him at mkessler@verizon.net

Coolest House On Caravan: 1563 Ensley

2011-10-04T16:21:00.000-07:00

1563 Ensley Ave., Los Angeles, CA 90024

3 bedrooms/1.75 bath

Listing Price: $1,549,000

Character-filled courtyard Spanish style home in a private setting on a fantastic block. This one of a kind home has been updated with designer high end finishes and complete attention to detail.

Majestic courtyard with outdoor fireplace plus a lush grassy backyard. Amazing formal rooms for entertaining plus a cooks kitchen with high end appliances and custom cabinetry.

3 bedrooms with wood beamed ceilings and 1.75 opulent bathrooms complete this home. High end security and sound system throughout. Truly a special property that is not to be missed.

Kesslers Comments: The house is exceptionally charming, sophisticated, and in a nice location. It features a very nice, private backyard, and is one of the better "character" houses I have seen in long time.

Coolest House on Caravan: 10765 Lindbrook

2011-08-16T14:45:00.001-07:00

10765 Lindbrook Ave.
Listing Price: $2,395,000

A true Little Holmby classic 1935 Mediterranean completely unspoiled with beautifully restored original architectural details! Incredible home that is perfect for entertaining.

New gourmet kitchen done in the original style. New plumbing and electrical; outstanding powder room with venetian plaster and custom Art Nouveau stained glass window; custom tile and stained glass throughout.

Four large bedrooms and three original bathrooms upstairs. Fabulous back yard with new pool, spa, built-in barbeque, fountain, firepit and outdoor living area under a giant pergola.

Three-car garage has been converted to a surround sound media room with custom cabinetry and encaustic tile floors and a temperature-controlled, alarmed storage area. Rarely does an opportunity come along to own a home like this in one of the best locations in Los Angeles.

Kessler's Comments: This home is one of the best examples depression-era architecture and design that I have seen in the Little Holmby/ Westwood area. It features exceptional moldings, tile work and korvals. It does back up to the Wilshire high-rises, but what do you expect for 2+ million dollars?!

Coolest House on Caravan: 919 Chantilly Road

2011-08-09T15:23:00.000-07:00

919 Chantilly Road Bel Air, CA 90077
Listing Price: $2,095,000

The Hamptons in Bel Air. Wonderful East Coast Hamptons Style Home. Fully fenced & gated for privacy & security. Formal Entry.

Large Living Room with Fireplace & built-in Bookcases with French Doors opening onto covered Portico or rear Terrace.

Chef's Gourmet Galley Style Kitchen with imported French Stove, Sub-Zero and Marble Counter-Tops. Breakfast area with built-in Banquet. Formal Dining Room. Convertible Den/Office.
4 Bedrooms + 4 Baths three of which are suites. Luxurious Master Suite with Fireplace and Master Bath with large Dressing Room. Upstairs pass-thru Den.

Rear Terrace with Outdoor Fireplace and built-in Barbeque. Beautifully landscaped rear yard. Two Car Attached Garage. Great attention to detail throughout. Minutes to Beverly Hills, Century City, Westwood or West Los Angeles. Close to some of the finest Private Schools in Los Angeles and the San Fernando Valley. A must see!

Kessler's Comments: Great curb appeal, well priced, very nicely landscaped. I particularly like the master bathroom. The one fixable shortcoming is the landing/den that the stairs lead to on the second floor. It is an unimpressive room that is poorly furnished and featuring a very modest television. Excepting this one room, the house is otherwise very charming and IMO, well priced.

Mortgage Information

2011-07-27T14:27:00.000-07:00

Banks Gearing up to fill Looming Gap in Jumbo Loans

By Kenneth R. Harney – July 10, 2011…Reporting from Washington—

Fannie Mae, Freddie Mac and the FHA are facing an upcoming cutback in mortgage limits, but banks say they're planning to expand their jumbo loan business in high-cost housing markets.

How big a deal is the upcoming cutback in mortgage limits for Fannie Mae, Freddie Mac and the Federal Housing Administration? Will buyers and sellers who depend on jumbo-sized loans find themselves in a financing squeeze after Oct. 1, when the limits plunge in key markets around the country?

Housing and realty lobbies are pushing hard on Capitol Hill for a continuation of the $729,750 high-cost area maximum, but one industry is delighted by the prospect and is gearing up to fill the gap.

From small community banks to megabanks, the message is the same: Bring on the switch to lower limits. We plan to expand our jumbo loan business wherever market demand requires. There will be no financing squeeze for anyone who needs a mortgage too big for Fannie, Freddie or the FHA, provided the applicant is creditworthy and has enough of a down payment.

Congress raised the conventional and FHA limits during the economic crisis to ensure access to capital for buyers and refinancers. Those limits are scheduled to adjust downward Oct. 1, unless lawmakers agree to an extension — a move that would run counter to calls from Republicans and the Obama administration to reduce the federal footprint in the mortgage arena.

Federal guarantees support loans purchased, securitized or insured by Fannie, Freddie and the FHA, putting taxpayers' dollars at risk in the event of foreclosures. Fannie and Freddie together have sopped up more than $150 billion in direct taxpayer assistance since being placed in federal conservatorship three years ago because of mounting losses from loan defaults.

On Oct. 1, the maximum loan at each of the three federal mortgage giants will fall to $625,500. Though the upper-limit decline is only $104,250 below where it is today, some realty and business analysts worry that buyers who need big mortgages — especially in California, New York, New England, Florida and Washington, D.C. — will be forced to make much heftier down payments, pay higher interest rates or be prevented from purchasing the house they want.

Bankers say those worries are way overblown. Cam Fine, president and chief executive of the Independent Community Bankers Assn., says his 5,000-plus members plan to take up the slack in the jumbo arena and have the financial capacity to do so. Community banks, which generally range in size up to $20 billion in assets, "are very adept at creating products that fit the needs of customers," Fine said.

Matt Vernon, national mortgage sales executive for Bank of America — the country's largest by assets — said his institution has been aggressive in the jumbo segment for more than a year, and is planning to pick up the pace even more in the coming months. Bank of America funded $4.1 billion in jumbos during the first quarter of this year alone.

Meanwhile, interest rates on jumbos are near their lowest levels ever — in the 5% range for 30-year fixed-rate loans, around 3% for some hybrid adjustables. Spreads between conventional-sized loans and jumbos have narrowed from 200 to 250 basis points (2% to 2.5%) three years ago to just above half a percentage point today. On loans of $400,000, Bank of America is offering "5/1" adjustables at 3% plus 0.875 point. A 5/1 loan's interest rate is fixed for the first five years, then converts to a one-year adjustable. A 5/1 loan of $800,000 goes for 3.5% with 0.875 point. Other big banks have competitive rates.

Noah Wilcox, CEO and vice chairman of Grand Rapids State Bank in Grand Rapids, Minn., says community banks such as his can essentially tailor jumbo mortgages for individual customers because they retain all the loans in their own investment portfolios.

"We've seen jumbos with 10% down payments" and other exceptional terms for clients, he said. Based on the borrower's income and assets and the value of the house, "if it makes sense" his bank will try to do it — or at least consider it.

Bankers' aggressive expansion plans and big promises notwithstanding, there are sobering realities that home buyers seeking jumbo loans are likely to confront when Fannie, Freddie and the FHA no longer are in the picture. Tops on the list: If you thought underwriting standards are strict already, be prepared for even tougher evaluations by community and national banks.

Also, unlike at nondepository mortgage companies, banks prefer to do jumbo loans primarily — or solely — for applicants who are their customers and have some sort of account establi shed. So if you haven't deposited money or established some sort of relationship with the bank, don't expect to see its best deal.

Provided by: Steve Eckhoff of First Capital Mortgage (310) 470-8080

Coolest House on Caravan: 1627 Pandora Ave

2011-07-27T12:06:00.000-07:00

CHOC: 7/26/2011

Listing Price: $2,195,000

Kessler's Comments: I saw a lot of great homes on caravan today, more than ususal, but this one was definitely my favorite. This home has exceptional style, features and gardens, which is why I chose it for the Coolest House on Caravan. There are wonderful spaces and nooks all around the house and the very large yard of this corner lot property. The materials used in the house are either original and in great condition (such as the bathroom tiles), or newer materials that were perfectly integrated into this stunning 1930s Spanish home. The master is amazing, as are the exquisite gardens that surround. Definitely worth seeing or showing, I am not 100% sold on the price, although with is exceptional style and quality their number may bear out.

Remarks per TheMLS: Beautiful classic Spanish home that has been tastefully updated.
This home features three bedrooms upstairs and two plus den/family downstairs, with hardwood floors, custom lighting

newer kitchen w/granite, stainless steel appliances, remodeled second floor with spacious master suite with beamed ceiling and steam shower.

Garage converted to art studio and work shop. Outdoor landscaping installed in 2010 with extensive play area, outside kitchen, pergola, fountain, fencing & landscaping.

If you have any questions about this property or are interested in seeing it, please contact Mickey Kessler with Coldwell Banker at (310)367-2322 or email: mkessler@verizon.net

Brand New Listing! Not Yet in the MLS!

2011-06-04T06:54:00.000-07:00

1939 N. Beverly Glen Blvd.
List Price- $599,000

SHORT SALE! Extensively remodeled Traditional home with delightful tree-top views. House is set way back from the main road in a woodsy setting. A phenomenal value with quality upgrades: large living/dining room with beautiful ebony hardwood floors, remodeled eat-in kitchen with new fixtures. Remodeled baths with tumbled marble tiles. Plenty of off-street parking and easy ingress and egress. Huge lot of 11,822 square feet. One of the lowest priced homes in the Warner School district.

For showings and more information contact Mickey Kessler DRE#-01088842, Coldwell Banker phone- 310-367-2322, email- mkessler@verizon.net.

The Coolest House on Caravan!!!

2011-05-03T15:20:00.001-07:00

1022 Manning Avenue
Los Angeles, CA

Warm, inviting, East Coast traditional in Little Holmby.

Ready and waiting for the family wanting this excellent location which is within walking distance to nearby schools and Westwood Village OR your sophisticated clients desiring to be close to shopping, UCLA and restaurants. Lovely living room with fireplace and bay window.

Cook's kitchen with marble counters overlooking Provence-like back yard and pool.

Gracious home updated with 3BR up. Master with newer marble bathroom and double shower plus two guest bedrooms with en suite bathrooms and a maid's down.

Beautiful dark hardwood floors throughout.

Comfortable library/den with full bath off.

The Coolest House on Caravan!!!

2011-04-26T14:22:00.001-07:00

147 Groverton Place
Bel Air, CA 90077

This week's coolest house features beautiful yards and mid century charm!
At the end of a Bel Air cul-de-sac with lots of privacy, this inviting ranch style house sits on over 1/2 acre that is immaculately landscaped with a large yard and sparkling pool.

The home has a Joey Shimoda designed chef's kitchen with Stainless Steel appliances, cherry cabinets, slate floors, 21 ft. center island, and was featured in Metropolitan Homes, with hardwood floors, french doors, and large sliding pocket doors between the formal dining room and the kitchen.

Indoor outdoor flow with large patio, large swimmers pool, pool house with steam shower, gated private drive with 2 car garage, outdoor viking grill station built for entertaining.

Contact: Craig Ashley
310-488-7659

Coming Soon!

2011-04-22T12:40:00.000-07:00

1st Quarter (+1) Update

The Coolest House on Caravan!!!

2011-04-19T14:18:00.000-07:00

205 Glenroy Place
Bel Air, CA 90049

The coolest house this week has EXCEPTIONAL PRIVACY! Very romantic setting with beautiful grounds and gardens...take a look for yourself..

Ultimate private location 1-story traditional at end of a cul-de-sac.

Open floor plan with warm woods and stone fireplaces. Large pane windows overlook park-like setting.

Formal dining and living rooms plus great den with wet bar.

Cherry wood cabinets and marble counter tops in kitchen. Breakfast nook.

Master suite with walk-in closet. 2 additional bedrooms with baths. Guest suite on lower level.

Trellised porch and huge brick patio ideal for entertaining and dining al fresco.

Contact: Chrys Stamatis
310-571-1323

Weekend Rate update

2011-04-14T14:09:00.001-07:00

The Government’s temporary loan increase to $729,750 is slated to roll back to $625,500 on October 1^st

5.000% for the 30 year Fixed ~ Conforming {0 to $417,000}

5.250% for the 30 year Fixed ~ Agency Jumbo {$417,000 to $729,750}

5.750% for the 30 year Fixed ~ Super Jumbo {$729,750+ 80% - $1,500,000 is OK}

4.250% for the 5 year Fixed ~ Conforming {0 to $417,000}

4.250% for the 5 year Fixed ~ Agency Jumbo {$417,000 to $729,750}

4.250% for the 5 year Fixed ~ Super Jumbo {$729,750 plus}

Please buffer the 30 year Fixed Rate by 0.50% for your purchase contract with Points "not to exceed 1.00".

Most transaction times should be set to fit the following Lender's time frames

Conforming and Agency Jumbo

Loan Contingency ~ 21 days

Appraisal Contingency ~ 21 days

Condo/Townhomes ~ 45 days

Single Family Residences ~ 45 days

Super Jumbo

Loan Contingency ~ 24 days

Appraisal Contingency ~ 24 days

Condo/Townhomes ~ 45 days

Single Family Residences ~ 45 days

Steve

Steve Eckhoff, Office and Voicemail/Pager 310-470-8080, e-fax is 310-576-8046

Lesley Day, Transaction Coordinator, 310-656-8255, LDay@FirstCapitalMtg.com

Carolyn Simon-Hooks, Transaction Manager, 310-656-8215, CSimon@FirstCapitalMtg.com

Update on Lemonade in Brentwood

2011-04-12T11:26:00.000-07:00

As promised, I have an update on Lemonade Restaurant which is coming soon to Brentwood. Speaking with one of the managers of the Beverly Hills Lemonade, I was delightedly informed that Lemonade will be opening in about a month in Brentwood. So hopefully by May, we shall be able to enjoy all the deliciousness that Lemonade serves up daily.

Want to see Lemonade's menu?

Visit: http://www.lemonadela.com/menu-ii

The Coolest House on Caravan!

2011-04-05T14:16:00.000-07:00

1104 Angelo Drive
Beverly Hills, CA 91210 Secretly and quietly located on a generous & private lot, this renovated dramatic mid-Century architectural speaks to the transcendent qualities of minimalist design.Striking original creation by renowned architect Richard Dorman, the residence enjoys pavilion-like interior spaces that open to both a large aquamarine Pool and grassy yard flanking a showcase Living Rm.

Spacious Kitchen is heart of the home offering premium appliances, eat-in Breakfast Rm, acres of counter space & storage+Pantry-- and opens to adjacent casual Lounge or Fam Rm.

The scale and proportions are seemingly perfect & harmonious. Upstairs are two more bedroom suites plus Den. Not seen in over a decade, do not miss this rare opportunity to enjoy architectural balance between the outdoor and indoor environments in a lovely residential setting.

Contact: Ernie Carswell (424) 202-3226

Don't Be Fooled on April 1st!

2011-03-31T14:10:00.001-07:00

April 1st, generally known as April Fools' Day, is celebrated all around the world where everyone plays all sorts of jokes, pranks, and hoaxes. In places like the United States, France, and Italy, the jokes continue all day long.

From museumofhoaxes.com, the #1 prank thus far is the Swiss Spaghetti Harvest 1957: The respected BBC news show Panorama announced that thanks to a very mild winter and the virtual elimination of the dreaded spaghetti weevil, Swiss farmers were enjoying a bumper spaghetti crop. It accompanied this announcement with footage of Swiss peasants pulling strands of spaghetti down from trees. Huge numbers of viewers were taken in. Many called the BBC wanting to know how they could grow their own spaghetti tree. To this the BBC diplomatically replied, "place a sprig of spaghetti in a tin of tomato sauce and hope for the best."

For more memorable April Fools' Day jokes, visit http://www.museumofhoaxes.com/hoax/aprilfool/

Be cautious and beware of what tomorrow brings. Don't be fooled on April Fool's Day! Goodluck :-)

The Coolest House on Caravan!

2011-03-29T14:12:00.001-07:00

1940 Calgary Lane
Los Angeles, CA 90077
One of the most desirable gems with Canyon Views. Beautiful remodeled home with top-of-the-line materials.Fabulous master-suite, 4 bed & 2 1/2 baths boasts formal living & dining rooms. Designer granite chef's kitchen w/ Vikings & Subzero Bosch appliances. Elegant slate & hardwood flooring throughout. Great family room which connects to a recreation room w/wet bar. French doors lead to a great entertaining yard with built-in BBQ, spa & waterfall.

Contact: Sandy Feldmar 310-281-3969

Recent Sales Activity Report!

2011-03-25T11:17:00.001-07:00

Why 2011 May Be the End of the Housing Crash

2011-03-25T10:54:00.001-07:00

From the Desk of Steve Eckhoff....* Article about the current housing market*

There might finally be some good news this year about the nation's dismal housing market. Or, at least, the bad news could stop.

Either way, it will be welcome relief for current homeowners as well as for potential real-estate investors. Reasons to be optimistic have been sadly lacking since the housing bubble burst in 2006.

For sure, last week we learned the widely watched S&P/Case-Shiller home-price index fell 1% in December, its fifth straight decline. The index tracks 20 major markets.

But that figure belies real reasons to be optimistic, according to some experts. If they are right, it might make sense to jump into real estate. The trick is avoiding getting burned again, and it doesn't necessarily mean owning a home.

First, let's recap the economic signs a bottom is close.

Houses Are a Good Deal

Housing is the most affordable it has been in decades, according to analysts at Moody's Analytics. They don't just look at house prices. They also look at incomes.

Nationally, the cost of a house is the equivalent of about 19 months of total pay for an average family, the lowest level in 35 years. Prices usually average close to two years' pay, although that varies nationally.

At the peak, midway through the last decade, a home in Los Angeles cost the equivalent of 4.5 years' pay. The average price has since fallen to just over two years' income now. That's well below its pre-bubble average of 2.6 years. This means average Los Angeles homes are cheaper in "real terms" than they were typically during the period 1989 through 2003.

The opposite is true around the Washington beltway, where it will take 26 months of pay to buy a home, versus the historical norm of 22 months.

In the end, it will be affordability that will drive people to buy homes.

"Pricing is down so much in some markets that when you analyze renting versus owning it makes much more sense to own," says Michael Larson, a real-estate analyst at Weiss Research in Jupiter, Fla.

It is definitely bullish. But what about timing?

"Housing prices will probably bottom in 2011," says Scott Simon, a managing director at money-management firm Pimco in Newport Beach, Calif. He foresaw the housing crash, helping his firm dodge losses that plagued Wall Street.

Rates on 30-year fixed-rate mortgage fall

It’s the third consecutive week of declines: Freddie Mac

The mortgage averaged 4.95% last week and 4.97% a year ago.

Fifteen-year fixed-rate mortgages also dropped, averaging 4.15% for the week ending March 3, down from 4.22% last week and 4.33% a year ago.

Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.72%, down from 3.8% last week and 4.11% a year ago. And 1-year Treasury-indexed ARMs averaged 3.23%, down from 3.4% last week and 4.27% a year ago.

To obtain the rates, the fixed-rate mortgages required payment of an average 0.7 point, and the ARMs required an average 0.6 point. A point is 1% of the mortgage amount, charged as prepaid interest.

“Mortgage rates saw an overall improvement this week. Interest rates for 30-year fixed mortgages were almost 0.2 percentage points below this year’s high set just three weeks ago,” said Frank Nothaft, vice president and chief economist of Freddie Mac, in a news release. “This means that home buyers could now expect to pay $263 less per year on a $200,000 loan.”

But housing demand remains weak, he added.

“New-home sales in January were near record lows dating back to 1963 when the data began, according to the Census Bureau,” said Nothaft.

“Similarly, pending sales of existing homes fell for the second consecutive month in January, according to the National Association of Realtors,” he added.

The Coolest House on Caravan!

2011-03-24T10:00:00.000-07:00

9725 Elderidge Drive
Beverly Hills, CA 90210

* This week's coolest home has a treehouse view from every window with lovely gardens and an amazing pool. Might need some updating, but it is a great value.

Sophisticated 1939 Traditional perfectly sited on private knoll.

Gracefully updated for today's living the home maintains its original beauty & charm.

4 bedrooms, 3.5 bathrooms, formal living room, formal dining room, wood-paneled den & large eat-in kitchen.

Features include French Doors, wood-paned windows, hardwood floors and wonderful details throughout.

Mature landscape, magical gardens, fruit trees & bubbling ponds surround stone patios, meandering paths & a sparkling pool w/cabana & bath.

Contact: Jana Jones-Duffy
310-285-7535

TomatoMania! Are you Ready for it?

2011-03-18T10:05:00.001-07:00

TomatoMania! is the world's largest heirloom tomato seedling sale. The even takes place in various locations all over, but the nearest one to LA is in Encino. Below is the info:

March 25-27 @ Tapia Brothers' Farm Stand

5251 Hayvenhurst Ave.

Encino, CA 91436

Open from 9am-5pm with almost 300 tomato varieties and everything you need to have a fabulous tomato season.

For the complete schedule and other locations of TomatoMania, visit http://www.tomatomania.com/#

Using another bank's ATM? Fees are increasing!

2011-03-17T10:51:00.001-07:00

Think a $2 ATM fee is high? How about $4 or $5?

Currently, banks charge non-customers an average of $2.33 to use its ATMs. Now Chase, which operates the second largest ATM network in the country, is testing the higher fees in two states.

In Texas, non customers are being charged $4 and the fee is $5 for those in Illinoise. The fee for non customers everywhere else remains at $3, which is still higher than the average according to Bankrate.com.

There is no news as to when Chase will roll out the higher fees natiowide. For now, we can only hope that it doesn't come to California anytime soon.

Chase customers are not affected, but are still charged $2 to use an out-of-network ATM.

The Coolest House on Caravan!

2011-03-15T17:10:00.000-07:00

1915 Fox Hills Drive
Los Angeles, CA 90025

This is the coolest house this week because I believe it is very well priced and a good value. Located on a great street too!

Charming two-story traditional near Century City and Fox Studios.

In the award-winning Westwood Charter School District, this 3 bedroom 2 bath gem is steps away from shopping, restaurants and theaters.

This house has original charm and is ready for you to make it your own. Separate dining room, large kitchen with nook, central air and heat, large and private backyard with room to expand.

The separate and tranquil master suite has vaulted ceilings, a fireplace, incredible light, a balcony, 2 closets, private bath and room for a sitting area.

Sold as-is. Close to Westwood, Beverly Hills and the Westside.

Contact: Adrienne Tourtelot
310-979-3995

Gross Warns QE2's End Could Sink Markets

2011-03-11T11:43:00.001-08:00

UPDATE FROM STEVE ECKHART

~ This is probably THE MOST IMPORTANT 1 page article that I’ve handed out in the last year. It is a plain and simple discussion about why rates may increase considerably and the cooresponding component that Buyers need to buy NOW.

Posted by Colin Barr March 2, 2011

Bill Gross says stocks and bonds could be in for a world of hurt this summer.

Gross, who runs the world's biggest bond fund at investment manager Pimco, said in his March investment outlook that when the Federal Reserve's quantitative easing program ends in June, bond yields are likely to go "higher, maybe even much higher." That will spell pain for bondholders because rising yields reflect falling prices. But it could also spell bad news for stocks, which have risen sharply since the Fed said in August it would buy more bonds to support U.S. asset prices and keep inflation from falling too low.

Indeed, Gross worries that the economic recovery so many commentators are so eager to sign on to appears unlikely to continue without a steady drip of Fed liquidity. That could mean a wild summer as investors adjust to a sobering new reality.

"Bond yields and stock prices are resting on an artificial foundation of QE II credit that may or may not lead to a successful private market handoff and stability in currency and financial markets," he writes.

Gross, who has been urging investors to steer clear of government bonds for most of the past year, reasons that yields will have to rise to keep attracting buyers who up till now have been willing to accept bond returns that are well below their historical average.

Government bonds have rallied in the past week or two along with oil prices and fears that rising costs will short-circuit the global economic recovery, putting the yield on the 10-year Treasury note at around 3.4%. Gross says that is about 1.50 points below what he takes to be its normal level, judging by history. He says the 10-year Treasury normally carries an interest rate that's about the same as the current forecast for U.S. economic growth.

With forecasters predicting that the economy will expand about 5% in nominal terms, unadjusted for inflation, Gross says, it is clear that the price on government bonds has considerable room to fall.

He doesn't expect it to do so immediately, because for now the Fed is in the market daily buying up Treasury bonds. It has bought 70% of Treasury bonds issued since November, Gross estimates, with foreigners soaking up the rest.

But if QE2 ends on schedule at the end of June, that bid will disappear – and the government will presumably have to offer somewhat higher interest rates to appeal to purchasers who are increasingly concerned about the prospect of inflation down the road.

Of course, Gross has a dog in this fight. He has been paring back on Treasurys himself, in anticipation of a big selloff.

And as plausible as his forecast sounds, some commentators question his reasoning. They note that the private sector is running an enormous surplus -- the counterpart to the oft-discussed public sector deficit -- that will have to go somewhere. Government bonds, it stands to reason, will naturally get their share.

Indeed, Gross even concedes that even if the Fed backs away from Treasury bonds,

Someone will buy them, and we at Pimco may even be among them. The question really is at what yield and what are the price repercussions if the adjustments are significant.

Still, there's no doubting that a sharp rise in interest rates, should it come to pass, would make the oil price runup of the past month look like a walk in the park.

"By eliminating QE II, the Fed would be ripping a Band-Aid off a partially healed scab," Gross writes. "Ouch!"

Jennifer Aniston's Home for Sale

2011-03-10T11:13:00.001-08:00

Article by Lauren Beale, Los Angeles Times

Actress Jennifer Aniston has listed her Beverly Hills estate for sale at $42 million.

Designed by Hal Levitt, the 1970 house sits on about an acre in the Trousdale Estates area. The indoor-outdoor home of glass, wood and stone was designed for entertaining and for use by an extended family.

The redesigned and expanded interior living space, restored by Aniston and designer Stephen Shadley over more than two years, encompasses nearly 10,000 square feet. The formal living room is paneled in rosewood, a secondary living room has a wet bar, and the five bedrooms and 71/2 bathrooms are complemented by two kitchens, a gym and a three-car garage

Water features include a swimming pool, spa, ponds and fountains throughout the property. An alfresco living room, fireplaces and another kitchen are among the outdoor amenities.

Aniston, 42, stars with Adam Sandler in the comedy "Just Go With It" though she is still best known to TV audiences for her role on "Friends" (1994-2004). Among her other film work is "He's Just Not That Into You" (2009), "Marley & Me" (2008) and "Bruce Almighty" (2003).

In an Architectural Digest cover story just one year ago, Aniston declared, "I can't tell you specifically the feeling I had when I walked through the doors for the first time, except to say I knew I was home." She has since told People magazine she is selling the house to simplify her life. Aniston bought the property in 2006 for $13.5 million following her divorce from Brad Pitt. The cost of the architectural renovation and redecoration was not divulged.

Jade Mills of Coldwell Banker, Beverly Hills, has the listing.

The Coolest House on Caravan!

2011-03-08T14:47:00.001-08:00

10454 Wilkins Avenue
Los Angeles, CA 90024

Amazing Classic Spanish Revival with many original elements beautifully cared for by same family for 50 years.

Coved ceilings, carved arched doorways, original hardwood floors, living room has vaulted ceiling, exposed wooden beams and new, tinted curved picture window.

Large master suite with separate vanity room has new marble flooring and cedar closet.

Spanish tiling in both bathrooms.

Lush and large private yard with fruit trees, birds of paradise, roses and cherry blossom tree.

Contact: Anthony Papillo
310-497-4117

Kelly Slater and the Art of Home Selling

2011-03-04T15:15:00.000-08:00

The other day, while I was waiting for my to-go order at Islands, I sat and watched one of the many TV monitors they have throughout the restaurant. I saw footage of surfers, including Kelly Slater, attacking giant waves and it got me thinking about the similarities of pricing a home for sale. You’re probably wondering, where I am going with this, but stay with me, I know where I am going.

If a surfer doesn’t paddle out in front of the wave they simply won’t catch it, no matter how valiant the effort. Then they’re forever paddling to try to catch up to it, in essence, chasing the wave. Pricing a home for sale is much the same. If you don’t price a home to get in front of the market, create a lot of interest and activity, and generate offers, you put yourself in the unwelcome position of “chasing” the market. Reducing the price of your home (often several times) in an effort to catch up to a market that has already passed on your home is chasing the market. And in many cases, you ultimately sell your home at a considerably lower price than what it would have sold if you priced it right in the first place.

But what is the right price? This is an age old question and to answer it, it is important to acknowledge the Five Principals of Effective Home Pricing:

1) Like any other commodity, the buyers, not the seller will ultimately determine the sale price of your home.
2) A home buyer values your home based almost completely on “Perceived Value,” not what I like to call, the home seller’s “Experienced Value.”
3) Effective home pricing is the most important and powerful marketing tool.
4) Urgency creates action.
5) The three most important things in real estate. . . Price, Price, Price.
The three most important things in real estate used to be location, location, location, but in today’s world where everyone has access to real estate statistics, pricing is everything.

Every home has its “trigger price.” This is a list price creates sufficient interest and activity so that the home will have an offer in time that is reasonably anticipated in the real estate market in which the home is being offered for sale. The “expected” time on market varies depending on available inventory, economic factors, type of real estate being offered (home, condo etc.), location of property, and lastly, consumer confidence. Where I work, on the West Side of Los Angeles I would estimate our Expected Market Time (EMT) to be two to three weeks.

One thing I can say with great certainty is, if your home is on the market much longer than the EMT, the buying public will perceive your home to be overpriced and they will then wait for you to reduce your price (this is when the sharks start to circle). Now you are in the unenviable position of having to “chase the market” in an effort to get out in front of that wave, which is much more difficult once the wave has passed (see, I did know where I was going with this analogy!).

Finally, one has to determine that Trigger Price, that magical price that gets buyers off the fence and writing offers for fear that if they don’t move fast, they may miss out. To illustrate the principles in determining value lets take two extreme examples of pricing. If you own a home in a neighborhood where most homes are selling between $2.5 and $3.5 million, and your home was similar to these homes, but was listed for $10 million, would you see an offer? Conversely, if your home was listed for $500,000 how many offers do you think you’d have? Twenty, fifty, one hundred? With that kind of “bidding war,” how high would you expect the price to be bid up? The sale price would probably end up somewhere in the range of the other homes in the neighborhood.

I’m not suggesting this extreme of a strategy (although I’ve seen it used very effectively, especially with lender-owned properties) but I am certain there’s a price somewhere in between that would generate the necessary activity to achieve the best price and terms possible. For most home sellers this strategy feels a little like “not having a safety net”, but this is ultimately the best strategy.

To fine tune the list price it is important to consult with Realtors who have “intimate” knowledge of the listings and sales in your neighborhood. Such a Realtor can expertly assess your home’s value as it compares to the recent market activity and come up with the right list price to get your home out in front of the wave of home buyers and accomplish your home-selling goals.

Mickey Kessler is a twenty-year Realtor and Associate Manager at Coldwell Banker in Brentwood 310-367-2322.

The Coolest House on Caravan!

2011-03-01T10:49:00.001-08:00

6524 Olympic Place
Los Angeles, CA 90035

Situated on a quiet and prime street (NOT Olympic Blvd.) in historic South Cathay, this classic Spanish Colonial revival home offers a warm and tranquil place to call home.

Pristine original features including intricate crown mouldings, stained glass, and gleaming hardwood floors show the quality of this 1930's beauty. The large living room centers on a gorgeous fireplace.

The dining room is a perfect place to host dinner parties with a charming breakfast room and beautifully tiled kitchen.

The main bathroom boasts the period charm with fabulous deco tile. The second bathroom is wonderfully redone and keeps the intent of the Spanish style.

There are three large bedrooms and a cozy den with fireplace that opens to a patio and expansive yard for entertainment or play.

Contact: Kelly deLaat
310-880-9255