I have some good news to share with you. Today, the U.S. House of Representatives voted by an overwhelming 403-12 margin to approve the Unemployment Compensation Extension Act (H.R. 3548) that included, as an amendment, the extension and expansion of the Homebuyer Tax Credit. The bill already passed in the U.S. Senate yesterday, so now it will advance from Congress to the White House for President Obama’s signature. The Administration already has signaled its support of the Homebuyer Tax Credit amendment as well as the President’s intention to sign the bill into law.
The following are excerpts from The National Association of Realtors Article that detail the new provisions:
The bill would extend the present $8,000 tax credit for first-time home buyers through April 30, 2010. Current homeowners are eligible for a $6,500 tax credit through April 30, provided they have lived in the home they are selling, or have sold, as principal residence for five consecutive years in the past eight years. If potential home buyers have a binding contract on or before that date, they will have until July 1 to close the transaction.
Income limits for eligible home buyers are expanded to $125,000 for single buyers and $225,000 for couples. The purchase price of the home cannot exceed $800,000. To help guard against fraud, buyers are required to attach documentation of purchase to their tax return.
Detailed information about provisions in the tax credit legislation is available on Realtor.org.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.
Pass it on!!
Thursday, November 5, 2009
Wednesday, November 4, 2009
Senate today voted to extend and expand a tax credit for home buyers
Reporting from Washington - The Senate today voted to extend and expand a tax credit for home buyers as an added boost for the recovering real estate market, and also approved a provision to continue giving aid to the long-term unemployed.
Although some may not agree with the government programs that have been rolled out over the past year, the first time home buyer tax credit is one that is a winner in our city. An extension and an expansion of that credit may be just what are needed to put the housing market back on a solid foundation. The housing recovery in Los Angeles is under way, yet it is at a fragile state. In recent months we have seen an increase in residential sales that I can say are directly related to the previous tax credit measures. The credit was just enough to push some fence sitters, off the fence and into the market. That in turn was enough to get some investors back into the market to fix up some of these neglected and vacant homes, and put them back up for sale for a reasonable return. This activity has not resulted in price increases yet due to the overwhelming inventory that was on the books. I expect that prices will remain low or grow at a very moderate pace as the inventory of distressed and foreclosed homes is expected to continue. This will actually keep the market in balance, and benefit the first time home buyer. Eliminating the credit too soon, I think would have tipped the scales back into a depressed state and could have cooled off a budding recovery.
The measure, adopted on a strong bipartisan vote of 98-0, also would extend and expand a tax benefit for businesses with losses. The House is expected to follow suit within days, and President Obama is expected to sign it into law.
To keep fueling the real estate rebound, the legislation would extend the $8,000 tax credit for first-time home buyers to April 30. It now is set expire at the end of the month. More importantly, it also would provide a new $6,500 tax break for existing homeowners who want to move up to a new home, as long as they have lived in their current residence for five consecutive years out of the last eight.
The bill also would increase the level of qualifying incomes to $125,000 for individual tax filers and $225,000 for joint filers. Those earning up to $145,000 individually or up to $245,000 jointly would get a smaller credit that decreases as income rises.
The tax credits apply to home purchases of $800,000 or less.
"Every economist will tell you we have to steady the housing market before the economy will turn around," said Sen. Christopher Dodd (D-Conn.). "We can't afford to let this tax credit expire now."
With the unemployment rate at 9.8% and expected to go higher, senators voted to extend jobless benefits by 14 weeks in all states and 20 weeks in the hardest hit states, including California.
The $2.4-billion extension of unemployment benefits gained bipartisan support after it was written to cover all states, making it more appealing to senators. It would provide a longer extension of benefits in the 27 states now with unemployment rates of 8.5% or higher. California's 12.2% unemployment rate in September trailed only Michigan, Nevada and Rhode Island.
Congress included an extension of unemployment benefits in the economic recovery bill approved this year, but up to 600,000 people have already exhausted their benefits, and an additional 700,000 are scheduled lose them by the end of the year, according to the National Employment Law Project.
For all companies, the measure would allow them to use any losses this year or last year to offset taxes paid in the previous five years. A similar measure was included in the economic stimulus legislation approved earlier this year, but was limited to small businesses.
Although some may not agree with the government programs that have been rolled out over the past year, the first time home buyer tax credit is one that is a winner in our city. An extension and an expansion of that credit may be just what are needed to put the housing market back on a solid foundation. The housing recovery in Los Angeles is under way, yet it is at a fragile state. In recent months we have seen an increase in residential sales that I can say are directly related to the previous tax credit measures. The credit was just enough to push some fence sitters, off the fence and into the market. That in turn was enough to get some investors back into the market to fix up some of these neglected and vacant homes, and put them back up for sale for a reasonable return. This activity has not resulted in price increases yet due to the overwhelming inventory that was on the books. I expect that prices will remain low or grow at a very moderate pace as the inventory of distressed and foreclosed homes is expected to continue. This will actually keep the market in balance, and benefit the first time home buyer. Eliminating the credit too soon, I think would have tipped the scales back into a depressed state and could have cooled off a budding recovery.
The measure, adopted on a strong bipartisan vote of 98-0, also would extend and expand a tax benefit for businesses with losses. The House is expected to follow suit within days, and President Obama is expected to sign it into law.
To keep fueling the real estate rebound, the legislation would extend the $8,000 tax credit for first-time home buyers to April 30. It now is set expire at the end of the month. More importantly, it also would provide a new $6,500 tax break for existing homeowners who want to move up to a new home, as long as they have lived in their current residence for five consecutive years out of the last eight.
The bill also would increase the level of qualifying incomes to $125,000 for individual tax filers and $225,000 for joint filers. Those earning up to $145,000 individually or up to $245,000 jointly would get a smaller credit that decreases as income rises.
The tax credits apply to home purchases of $800,000 or less.
"Every economist will tell you we have to steady the housing market before the economy will turn around," said Sen. Christopher Dodd (D-Conn.). "We can't afford to let this tax credit expire now."
With the unemployment rate at 9.8% and expected to go higher, senators voted to extend jobless benefits by 14 weeks in all states and 20 weeks in the hardest hit states, including California.
The $2.4-billion extension of unemployment benefits gained bipartisan support after it was written to cover all states, making it more appealing to senators. It would provide a longer extension of benefits in the 27 states now with unemployment rates of 8.5% or higher. California's 12.2% unemployment rate in September trailed only Michigan, Nevada and Rhode Island.
Congress included an extension of unemployment benefits in the economic recovery bill approved this year, but up to 600,000 people have already exhausted their benefits, and an additional 700,000 are scheduled lose them by the end of the year, according to the National Employment Law Project.
For all companies, the measure would allow them to use any losses this year or last year to offset taxes paid in the previous five years. A similar measure was included in the economic stimulus legislation approved earlier this year, but was limited to small businesses.
Tuesday, November 3, 2009
Recycle Items Into Home Decor - wikiHow
Here is a fun article I found about re-using everyday items to creatively decorate your home. Tell me what you think about these eco-friendly ideas. Here is a snippet of the article. The boot caught my attention. Follow the link for more great ideas and pictures. The text fromm the article is below.
from wikiHow - The How to Manual That You Can Edit
How to Recycle Items Into Home Decor
Home decorating doesn't have to be expensive. There are many items that can be "hacked" into decor. So before you donate or dump anything, look at it with a creative eye. Is there any way it can become part of your beautifully unique home? This article will give you some ideas to start with.
Home decorating doesn't have to be expensive. There are many items that can be "hacked" into decor. So before you donate or dump anything, look at it with a creative eye. Is there any way it can become part of your beautifully unique home? This article will give you some ideas to start with.
from wikiHow - The How to Manual That You Can Edit
How to Recycle Items Into Home Decor
How to Recycle Items Into Home Decor
from wikiHow - The How to Manual That You Can EditHome decorating doesn't have to be expensive. There are many items that can be "hacked" into decor. So before you donate or dump anything, look at it with a creative eye. Is there any way it can become part of your beautifully unique home? This article will give you some ideas to start with.
Steps
- Make throw pillows from old t-shirts and sweaters. Throw pillows make the couch more comfortable and welcoming. It is also a chic look to have many pillows of different size and shape on your bed or couch. Store-bought pillows can be kind of expensive, so creating a pillow from one of your old t-shirts or sweaters is a great crafting project to try.
- Pick your fabric. Sweaters are soft and comfortable, and tend to have great textures and prints. T-shirts are a fun idea, as well, because they can be a good conversation starter and they can make a room more personable. Which ever fabric you choose make sure that you really want to cut into it. There’s nothing worse then say “actually, I still wear that!” Tip: try working with a material that won’t give you much trouble for your first pillow, like a cotton t-shirt.
- Trace out the area that you want to make into the pillow (remember, you aren’t limited to a square shape, however, this maybe the easier route to go for beginners). You can cut out two separate squares or keep the sides of the shirt connected, this all depends on the style you want in the end.
- Stuff it! Next you want to turn the shirt inside out if the sides still connected. Sew one side together, allowing only the other side of the shirt-pillow case to be open. Turn it right side out. If you cut two squares out, face the squares backwards to each other (wrong sides together, as if it's inside out) and sew three sides together. You should be able to turn this right side out to reveal what the pillow should look like. Then begin to stuff. And don’t be cheap with the pillow stuffing either. You want a nice firm pillow right?
- Using your sewing machine, finish sewing the open side. Voíla! You have a pillow made out of your shirt. This is a perfect accent to your couch or bed or even for traveling. Enjoy!
- If you have feline friends, you can also Make a Cat Bed from an Old Sweater.
- Turn an old boot into a planter. Do you have a pair of boots that have been with you through thick and thin? Are they too worn for you or anyone else to make use of them? Give them a new life with plants. These can be used inside or outside.
- Line the inside of boots with wax paper. The wax paper will prevent water from leaking through the boot. Place the middle of one sheet of wax paper over the opening of the boot. Carefully move wax paper into boot with your hand until your fingers hit the bottom of the boot. There will excess wax paper over the edge of the boot. Repeat for second boot.
- Fill each boot about three fourths way with potting soil.
- Place one flower/plant in each boot.
- Remove excess wax paper from the boots with a pair of scissors. Wax paper should come no lower than an inch underneath the top of each boot.
- Fill the remaining fourth of the boot with potting soil.
- Add a small amount of water to each boot.
- Place the boots in sunlight. There you have it! A simple and easy way to reuse those old boots that you cannot bear to part with.
- Turn old photos and cards into place mats. It's cleaning time, and you stumble upon a box of old cards. They could be Christmas cards, congratulatory cards, or even birthday cards. Perfect for adding personal touches to your home! One of the easiest and cheapest ways is to make your own place mats for your kitchen table. You can do this using any kind of card, and use the place mats as part of your seasonal decorating. A lot of times, birthday and congratulations cards can have many beautiful fronts that can be used year round.
- Select different cards or parts of cards that you like. You can cut similar shapes like circles or squares from each, or you can keep them whole.
- Remove the backing from one sheet of contact paper and arrange the pictures. You can either line them up side by side, or layer them over one another. You can even lay down a piece of construction paper first as a background, and glue the pictures on in shapes or letters. Be creative! Add your own personal family photos if you'd like too!
- Once you've gotten everything laid out to your liking, remove the backing from another sheet of contact paper. Now, with a steady hand, lay the sticky side down without creating bubbles in the paper. Smooth out any bubbles the best you can.
- Cut the place mat to whatever shape and size you wish. Now you have fun, creative place mats that you can truly call your own!
- For more ideas, see How to Make Placemats from Greeting Cards.
- You can also use leaves! Check out How to Make Table Placemats with Leaves.
- Hold onto your wine bottles. Wine tastes great and looks great. However, have you ever looked at a wine bottle's label? They're quite often pieces of art in and of themselves. Learn How to Use Wine Bottle Labels As Art. You can also Recycle Wine Corks Into a Corkboard, and find other ways to Recycle Wine Bottles. There are even kits sold which allow you to turn any bottle into a lamp!
- Make Art from Guitar Strings. After changing your guitar strings, you don't have to throw the old ones away. You can be creative and turn them into a work of art. The finished product can make an interesting centerpiece or even a wonderful gift for a musical friend!
- Turn old drink cartons into baskets. See How to Make a Basket from an Old Orange Juice Carton. Alternatively, you can use them to make picture frames or bird houses!
- Turn plastic bottles into candy dishes and intricate vases. The beauty of reusing plastic bottles is that whatever you make from them won't shatter! Check out How to Make a Soda Bottle Candy Dish and How to Make a Vase out of a Plastic Bottle.
- Reshape old vinyl records. Did you know that you can Make Bowls out of Vinyl Records? Or use them to Make a Salvador Dali Clock?
Things You'll Need
- For throw pillows
- sweaters
- t-shirts
- scissors
- needle and thread
- sewing machine
- stuffing
- For the boot planter
- an old pair of work or military boots from the closet, (2) 3 foot sheets of wax paper from the kitchen
- a pair of scissors
- one small bag of potting soil
- water
- 2 of a small plant or flower of your choice.
- For place mats
- Scissors
- contact paper
- glue
- old cards or photographs!
Related wikiHows
- How to Reuse Old Shower Curtains
- How to Recycle Towels
- How to Recycle Your Socks
- How to Buy Nothing
- How to Reuse an Empty Altoids Tin
Tuesday, October 27, 2009
Los Angeles Times Neighborhood section
Below are comments that I and others have made about Eagle Rock in The Los Angeles Times online neighborhood pages. I thought you might find interesting. Feel free to join the discussion by following the link back to the original section of The Los Angeles Times. The articles are posted from the most recently posted, followed by previos postings.
I have lived, worked and gone to school in Eagle Rock for over 30 years now. I am proud to be here, I love this town now more than ever. If Eagle Rock has lost anything, it was the bigotry, and ethnic intolerance it once had. I am proud to be an American of Japanese and Mexican descent, and I am elated that I can use both my identities freely now without fear of reprisal. Yes, Eagle Rock has changed... for the better. It is easy for some to see the past with rose colored glasses, but I don't. I was not here in the 1920's 30's, 40's and 50's. So I speak to what I have lived.
There are a few other things I don't miss about Eagle Rock. I do not miss the gang resided on Alumni Avenue. Nor the blighted, neglected homes south of the boulevard, the runaway apartment development from out of the area property owners. I certainly was not fond of the empty and dying boulevard that attracted the homeless, and drug users for lack of viable retail tenants. Although, I am glad the Taco trucks have remained. "Yum."
What I do love about this place is exactly the microcosm of this country that Eagle Rock is. It is a melting pot of the best of all the cultures in this country, and a reflection of this beauty in our cultural and music centers. So what if a Korean is running a French restaurant. That is amazing... Would you like some Kimchee with that??
I am proud that Eagle Rock has managed to embrace the changes that have come to the betterment of the neighborhood. So if I have to pay a few dollars more for a cup of Joe, and if I want to pay $100 dollars for a sushi lunch, then so be it. A small price to pay for improving the area. I might add that the Cindy's, Armon's, Pat and Lorraine’s, and Colombo's are still here, and doing fine. As long as they have business they will go on. As for Coldwell Banker David Steven Company, despite the worst real estate market since the great depression, we are still here!
— David Steven Toyama
October 22, 2009 at 11:36 a.m.
Permalink
Well, Once Upon a Time Eagle Rock was that special place.
..Now if you want to see a perfect example of gentrification "screw up" a nice neighborhood... go to Eagle Rock.
After living there for 20 years,we are "outta there",leaving it to these spoiled Yuppie pest and their lot,with Yuppie demands for high priced and trendy "here today gone tomorrow" $12 pulled pork sandwiches, and $100 sushi roll lunches, with "valet parking"? Come on,while theres a Taco Truck parked across the street?
Real French food at Cafe Beaujoliais,
operated by the new Korean owners..the real frenchman got smart and moved to South Pasadena in 2005!
Fattys? please...what do you call that soul-less place,yes fat wallets is about it.
Eagle Rock used to be a special place,but thats all in past.You really can love something to DEATH.
Hell, even the longest comments on this page are from David Toyama, formerly David Stevens (guess in the New E.R. its now cool to use your real last name)..turns out to be just Advertising for his depressed real estate business.
So,go there now, and watch the prices go up
and the Yuppies wallow in their newly aquired illusions of grandeur,the New Eagle Rock, a town with out pity.
— Rudy
October 21, 2009 at 9:50 a.m.
Permalink
Eagle Rock has been The Mayberry community for a long time, apple pie, good neighbors and an old fashioned community feel not easily found in the sprawling city of L.A. I went to Eagle Rock High School, and lived there for ten years, I run a business on Colorado Bl. To this day the pace is much slower than most of Los Angeles; just fine when you get home from the hustle and bustle of work. A type of community that people hate to leave and generations pass down their homes.
Changes have come slowly, not a bad thing. The businesses here tend to be independently run, and entrepreneurial. Fresh with new concepts energy and ideas. The cafes, shops, restaurants and bars are top shelf. They range from the old fashioned gut busters that fill you up like Casa Bianca Pizzeria, Colombos Italian, Pat and Lorraines, Senor Fish, and Cindy's Cafe to name a few. Yes we now have the Starbucks, Jamba Juice, Coldstones, and Panda's of the world, but Eagle Rockers love that independent, adventurous edge. That is the flavor of this town.
New and exciting spots are numerous, from The Coffee Table restaurant with fresh California Cuisine in a retro building, to Oinksters across the street. There is Fatty's located in a converted mechanics building, Classic Thai on Colorado, Mia Sushi, The Taco Spot, Spitz - vegetarian kabobs, and The Wonderful Peteit Beaujolais which hosts fresh baked goods, amazing coffee, and authentic french accented staff...yum.
For some fine dining try Cafe Beaujolais, across from Peteit Beaujolais. Right next door to me is Camillo's Bistro a fresh california menu and relaxing environment. Can't forget Swork Coffee shop, one of the brave, bold, innovators that help start it all. They were an early comer to the scene by boldly going where no new shops dared to go. Coming Soon is FOUR cafe. Opening up in November. They will be bringing fresh, locally grown food to us at a reasonable price. All meals will be prepared by a well established Beverly Hills Chef. Follow them online as they build their new cafe.
Finally there are the amazing public facilities like the schools, parks, cultural center. Top performing elementary schools that compete with any private schools. I know, I sent my kids to both Eagle Rock public schools, and private. The Eagle Rock park is a hidden gem, and the Eagle Rock Chamber sponsors annual music in the park, as well as dozens of other community events there. Trails galore here and nearby, as well as open fields, and children’s play grounds. The cultural Center has also become a lynch pin to showcase the deep musical, and artistic talents and roots of Eagle Rock. One of the best showcase events in Los Angeles, they host the annual Eagle Rock Music Festival, shutting down the boulevard each fall to host mostly newer, independent bands, performers and musician. I am the local real estate broker/owner for our boutique office - Coldwell Banker David Steven Company. If you want to know more, just come and see me.
— David Toyama
October 19, 2009 at 10:56 a.m.
Permalink
I grew up here and didn't realize just how lucky I was to be in such a truly diverse environment until I left. I always wished, though, that it was more typical of a "college" town with more cafes, bars, bookstores, etc. to cater to the high school and Oxy students. There does seem to be more development along these lines now, I've noticed, when I return to visit the parents.
— Aileen
September 22, 2009 at 9:18 a.m.
Permalink
Just bougt my first house and i decided to do it in ER.. wasn't too sure what to expect and was incredibly surprised by the "neighborly" atmosphere thats so lacking in most LA. I really love it here, one of the best decisions ive made so far. I also wasnt expecting to be so central and how easy it is for me to get anywhere..traffic seems to be a non issue around here.
— NR
September 17, 2009 at 6:01 p.m.
Permalink
I have beautiful memories of ER. My family and I had lived in ER for 23 yrs. We saw it change and grow over the years. It was a good place to raise our 3 young daughters.
We moved out of ER less than a year ago to move into a bigger house and to be near my elderly parents. Now my daughter and son-in-law live in our old, beautiful Craftsman house. The neighborhood has always been nice (pride of ownership) and everyone looks out for one another. The downside for our family, at the time when our girls were school aged, were the schools. We sent all 3 daughters to private schools as we wanted smaller classroom sizes.
My husband and I are glad our eldest daughter and her husband are enjoying our old house and neighborhood.
— Malena
September 5, 2009 at 11:07 p.m.
I have lived, worked and gone to school in Eagle Rock for over 30 years now. I am proud to be here, I love this town now more than ever. If Eagle Rock has lost anything, it was the bigotry, and ethnic intolerance it once had. I am proud to be an American of Japanese and Mexican descent, and I am elated that I can use both my identities freely now without fear of reprisal. Yes, Eagle Rock has changed... for the better. It is easy for some to see the past with rose colored glasses, but I don't. I was not here in the 1920's 30's, 40's and 50's. So I speak to what I have lived.
There are a few other things I don't miss about Eagle Rock. I do not miss the gang resided on Alumni Avenue. Nor the blighted, neglected homes south of the boulevard, the runaway apartment development from out of the area property owners. I certainly was not fond of the empty and dying boulevard that attracted the homeless, and drug users for lack of viable retail tenants. Although, I am glad the Taco trucks have remained. "Yum."
What I do love about this place is exactly the microcosm of this country that Eagle Rock is. It is a melting pot of the best of all the cultures in this country, and a reflection of this beauty in our cultural and music centers. So what if a Korean is running a French restaurant. That is amazing... Would you like some Kimchee with that??
I am proud that Eagle Rock has managed to embrace the changes that have come to the betterment of the neighborhood. So if I have to pay a few dollars more for a cup of Joe, and if I want to pay $100 dollars for a sushi lunch, then so be it. A small price to pay for improving the area. I might add that the Cindy's, Armon's, Pat and Lorraine’s, and Colombo's are still here, and doing fine. As long as they have business they will go on. As for Coldwell Banker David Steven Company, despite the worst real estate market since the great depression, we are still here!
— David Steven Toyama
October 22, 2009 at 11:36 a.m.
Permalink
Well, Once Upon a Time Eagle Rock was that special place.
..Now if you want to see a perfect example of gentrification "screw up" a nice neighborhood... go to Eagle Rock.
After living there for 20 years,we are "outta there",leaving it to these spoiled Yuppie pest and their lot,with Yuppie demands for high priced and trendy "here today gone tomorrow" $12 pulled pork sandwiches, and $100 sushi roll lunches, with "valet parking"? Come on,while theres a Taco Truck parked across the street?
Real French food at Cafe Beaujoliais,
operated by the new Korean owners..the real frenchman got smart and moved to South Pasadena in 2005!
Fattys? please...what do you call that soul-less place,yes fat wallets is about it.
Eagle Rock used to be a special place,but thats all in past.You really can love something to DEATH.
Hell, even the longest comments on this page are from David Toyama, formerly David Stevens (guess in the New E.R. its now cool to use your real last name)..turns out to be just Advertising for his depressed real estate business.
So,go there now, and watch the prices go up
and the Yuppies wallow in their newly aquired illusions of grandeur,the New Eagle Rock, a town with out pity.
— Rudy
October 21, 2009 at 9:50 a.m.
Permalink
Eagle Rock has been The Mayberry community for a long time, apple pie, good neighbors and an old fashioned community feel not easily found in the sprawling city of L.A. I went to Eagle Rock High School, and lived there for ten years, I run a business on Colorado Bl. To this day the pace is much slower than most of Los Angeles; just fine when you get home from the hustle and bustle of work. A type of community that people hate to leave and generations pass down their homes.
Changes have come slowly, not a bad thing. The businesses here tend to be independently run, and entrepreneurial. Fresh with new concepts energy and ideas. The cafes, shops, restaurants and bars are top shelf. They range from the old fashioned gut busters that fill you up like Casa Bianca Pizzeria, Colombos Italian, Pat and Lorraines, Senor Fish, and Cindy's Cafe to name a few. Yes we now have the Starbucks, Jamba Juice, Coldstones, and Panda's of the world, but Eagle Rockers love that independent, adventurous edge. That is the flavor of this town.
New and exciting spots are numerous, from The Coffee Table restaurant with fresh California Cuisine in a retro building, to Oinksters across the street. There is Fatty's located in a converted mechanics building, Classic Thai on Colorado, Mia Sushi, The Taco Spot, Spitz - vegetarian kabobs, and The Wonderful Peteit Beaujolais which hosts fresh baked goods, amazing coffee, and authentic french accented staff...yum.
For some fine dining try Cafe Beaujolais, across from Peteit Beaujolais. Right next door to me is Camillo's Bistro a fresh california menu and relaxing environment. Can't forget Swork Coffee shop, one of the brave, bold, innovators that help start it all. They were an early comer to the scene by boldly going where no new shops dared to go. Coming Soon is FOUR cafe. Opening up in November. They will be bringing fresh, locally grown food to us at a reasonable price. All meals will be prepared by a well established Beverly Hills Chef. Follow them online as they build their new cafe.
Finally there are the amazing public facilities like the schools, parks, cultural center. Top performing elementary schools that compete with any private schools. I know, I sent my kids to both Eagle Rock public schools, and private. The Eagle Rock park is a hidden gem, and the Eagle Rock Chamber sponsors annual music in the park, as well as dozens of other community events there. Trails galore here and nearby, as well as open fields, and children’s play grounds. The cultural Center has also become a lynch pin to showcase the deep musical, and artistic talents and roots of Eagle Rock. One of the best showcase events in Los Angeles, they host the annual Eagle Rock Music Festival, shutting down the boulevard each fall to host mostly newer, independent bands, performers and musician. I am the local real estate broker/owner for our boutique office - Coldwell Banker David Steven Company. If you want to know more, just come and see me.
— David Toyama
October 19, 2009 at 10:56 a.m.
Permalink
I grew up here and didn't realize just how lucky I was to be in such a truly diverse environment until I left. I always wished, though, that it was more typical of a "college" town with more cafes, bars, bookstores, etc. to cater to the high school and Oxy students. There does seem to be more development along these lines now, I've noticed, when I return to visit the parents.
— Aileen
September 22, 2009 at 9:18 a.m.
Permalink
Just bougt my first house and i decided to do it in ER.. wasn't too sure what to expect and was incredibly surprised by the "neighborly" atmosphere thats so lacking in most LA. I really love it here, one of the best decisions ive made so far. I also wasnt expecting to be so central and how easy it is for me to get anywhere..traffic seems to be a non issue around here.
— NR
September 17, 2009 at 6:01 p.m.
Permalink
I have beautiful memories of ER. My family and I had lived in ER for 23 yrs. We saw it change and grow over the years. It was a good place to raise our 3 young daughters.
We moved out of ER less than a year ago to move into a bigger house and to be near my elderly parents. Now my daughter and son-in-law live in our old, beautiful Craftsman house. The neighborhood has always been nice (pride of ownership) and everyone looks out for one another. The downside for our family, at the time when our girls were school aged, were the schools. We sent all 3 daughters to private schools as we wanted smaller classroom sizes.
My husband and I are glad our eldest daughter and her husband are enjoying our old house and neighborhood.
— Malena
September 5, 2009 at 11:07 p.m.
Monday, April 21, 2008
Los Angeles Times - the muted market
This week I was quoted in The Los Angeles Times. I was interviewed by Dianne Wedner for a feature about the state of the real estate market today, as compared to a year ago. The article made the front page of this Sundays real estate section. Here is a snippet straight from the article: "It's pretty ugly out there," said longtime Coldwell Banker broker David Toyama, who specializes in Eagle Rock, Glassell Park, Highland Park and Azusa. His business is down 50% from a year ago, he said, "and that wasn't our best year either." Hope springs eternal, however, and spring typically is the season of highest hopes for buyers and sellers. Despite slumping consumer confidence and ever-worsening economic news, some hardy souls are venturing into the housing market, and not all of them are just looking.
As part of the story, one of our current listings on Townsend Avenue in Eagle Rock is also featured. Ben Manibog the listing agent was gracious enough to arrange for the reporter and photographer to sit thorough an open house of ours. The open house was well attended by 23 prospective buyers. The reporter was able to interview many of them first hand. The host for the open house, Denise Barnes was also interviewed. One of Denises recent buyers is also featured on the cover photo in front of their new home. The photo is captioned, "The usually bustling spring home sales season is quite restrained this year, but some hardy souls are buying."
Here are some interesting facts pulled from the article:
Deal sweeteners
Many buyers are on hold while awaiting that outcome. But with new and resale home and condo closings in Southern California down 41.4% in March from a year ago and the median price off 23.8%, at $385,000, some sellers and builders are luring buyers into the market with discounted prices and concessions, such as paying loan points, helping with closing costs and upgrading kitchen amenities or carpeting.In Los Angeles County, the March median home price fell 18.5%, to $440,000, from a year ago; in Orange County, 19.6%, to $506,000. The hard-hit Inland Empire saw values tank 27.1% and 28.2% in Riverside and San Bernardino counties, respectively. Meanwhile, sales in Los Angeles County plummeted 49%; in Orange County, 46.9%; and in Riverside and San Bernardino counties, 26.9% and 38.0%, respectively. Nearly 38% of existing Southland homes that sold in March were foreclosure resales -- houses sold after they were foreclosed on last year.By a widely used measure of inventory, there has been an average 8.3-month supply of homes on the market in Los Angeles County during most of the last two decades, according to the California Assn. of Realtors. That's how long it would take for the supply of homes to be sold at the prevailing pace. In February, that supply was 21.2 months, compared with 10.6 a year ago. It went as low as 1.1 months in December 2003.The market slide means bargains galore in areas hard hit by foreclosures, such as Hemet 92543 in Riverside County, where median prices plummeted 48%, to $130,000, during the first quarter this year, compared with the same period a year ago, according to DataQuick.
Agent Toyama recently brokered a sale in Baldwin Park in which the first-time buyers, stretching to afford the $325,000 home they wanted, were told by their lenders that they had to pay off some debt to get the green light for the loan.The sellers, eager to clinch the deal, paid a portion of the closing costs, freeing up money for the buyers to settle some of their debts. The sale went through. "When sellers tune out reality," said agent Adriana Toyama, David Toyama's wife, "I refuse their listing."
The article is a fresh current look into the real estate market on a typical Sunday in Los Angeles. I think you will find the information interesting and relevant. It is written from the most important perspective we can have right now, the home buying public. Here is the address to the article, or just click on the title above for the full article. I will try to post the article her at a later time.
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Thursday, March 13, 2008
So the market is in the dumps, now what?
In times like today's, I am reminded so much of the market in the early 90's. I never, ever in my wildest dreams imagined the real estate market in Los Angeles could deteriorate so quickly. So here we are again. Now what? To sellers, I say if you do not have to sell, absolutely sell, then ride it out until the market recovers, which it will eventually. This market for sellers, is like selling a commodity at it's low point. If you do not sell then you do not experience a loss. For those that must sell because of relocation's, job loss, spike in mortgage payments etc.. then I say be prepared to make hard fast decisions. Be prepared to list at or below current comparable sales, and be prepared to pay buyer concessions as well as a full commission of 6% or more. This is the reality of the market. Expect to compete against banks and short sale properties, as the increase in these types of sales will start to become more of the norm than the exception.
The silver lining in all this is especially for first time buyers. What an excellent opportunity to find a good home at a great price, and at a decent rate. On top of all this it is now commonplace for a motivated seller to pay for buyers closing costs and other concessions. There are a myriad of new home buyer programs out there right now, from government sponsored silent second programs to down payment and closing cost assistance. In the private sector, home builders are offering below market interest rates, price discounts and upgrades. This cloud in the real estate could be a golden opportunity for astute home buyers in Los Angeles.
affordable housing and loan programs for Los Angeles area home buyers
As a real estate Broker we are pioneering the way for people to afford to own a home, and keep it. Our efforts these past several months have been focused on creating opportunities for homebuyers by assembling the many resources into simple to use systems and resources. You will notice our newest links on this blog, everything from affordable housing and loan programs for Los Angeles area home buyers. To programs for Pillars of the community, like Teachers, Firefighters, Police and Law Enforcement officers, Nurses, Military Personel, and Veterans. We have cutting edge loan programs from CALHFA (Califronia Housing Finance Agency), VA (Veterans Administration), CALVET (California Veterans Association). We also have Affordable Housing programs like silent seconds, closing cost assistance programs, City State and Federal programs.
Los Angeles REO's and forclosures
Find out about foreclosed homes, townhomes and condominiums in the greater Los Angeles area. We will show you how to find, buy or sell REO properties, or show you how to negotiate find or sell a short sale home. Find reo's in the cities of Alhambra, Altadena, Arcadia, Atwater, Azusa, Baldwin Park, Burbank, Bradbury, Covina, Duarte, Eagle Rock, East Los Angeles, Flintridge, Los Angeles, Echo Park, El Sereno, El Monte, Glassel Park, Glendale, Glendora, Highland Park, Irwindale, La Puente, La Canada, La Crescenta, La Verne, Lincoln Heights, Monrovia, Pasadena, San Dimas, San Gabriel, Shadow Hills, Sierra Madre, South El Monte, South Pasadena, Temple City, West Covina.
Saturday, May 26, 2007
What it is like to be an Agent in this market
It is now the end of May, and the market has progressed in a pretty healthy manner lately. Healthy to me means that consumers are still buying, however their buying patterns continue to change. Agents have started to shed their seller market skins (finally), and are catering to the needs of this new "normal market". I wanted to give a little insight into what real estate agents have experienced and how they are working now to try to adjust to today’s new "normal market". I keep saying "normal market" because that is what it is, if you look at real estate over the long term, the last 5 years of a steady boom in the market has been the exception, not the rule. From 1990-around 2000, for example, there were 10 years of a normal market in Los Angeles. Prices were declining, then stabilizing, and then slowly starting to increase. You will see that pattern or cycle throughout our real estate past. Now that the dust has settled I think Realtors have made the adjustments to deal with the market or have left the market entirely.
Real estate agents today have learned that they have to be more active with their customers. Where an agent was used to the phone ringing all the time, they now have to make the calls themselves, so to speak. They have to go out and find the buyer for their listings. The good agents are not taking their leads (buyers especially) for granted anymore. They are too few to do that. For example, agents are working longer hours prospecting than ever before; open houses, public events, walking in their farm areas, contacting their former customers and social sphere for business, and conducting homebuyer educational events. I think this change in the market is great for consumers. They are getting more attention, and the level of customer service is increasing. I see this in our agents all the time.
Some agents have not been able to make adjustments and have left the business or taken part time jobs. I think the trend of agents leaving the industry will continue, and applicants for new licensing will drop. This is a shame, because the best time to learn this business is in a normal market. An agent that can learn strong fundamentals in this market will only excel in the next real estate boom.
The customer has also changed the way they want information delivered to them, and how they want to interact with agents. For better or worse, the information age has caught up with this industry too. Consumers want to be in control of the search. They want information readily available, easy to find, and at their convenience. Agents are now delivering this in exactly that manner. Agents are becoming web experts. I see my agents putting their listings on Craigslist.com, trulia, openhouse.com, coldwellbanker.com and our local company websites. They are also developing blogs of their own so they can further interact with the customer online. They know that when the consumer is ready and serious, they want to make the first move. Some interesting blogs from our agents are: http://www.realestatenaturelover.blogspot.com/ , http://www.eaglerockrealestate.blogspot.com/ , http://realestateguide101.blogspot.com/ , http://realbydenise.blogspot.com , http://www.baldwinparkrealestate.blogspot.com/ and http://www.realestate4petlovers.blogspot.com/
In a nutshell, agents that are staying in the business have to learn new technologies, work harder, and be better consumer advocates than ever before. I ask you, is this bad for the market??
Thank You, David
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