Ultimate private location featuring a 1 story traditional at end of cul-de-sac. Open floor plan with warm woods and stone fireplaces. Large pane windows overlook park-like setting. Trellised porch and huge brick patio ideal for entertaining and dining al fresco. Formal dinning 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. Serene, enchanting and nicely appointed!  Listed by Chrys Stamatis - CB/Brentwood.

Gorgeous designer 2 bedroom, 2.5 bath front-facing Penthouse with a great floor plan. High ceilings, French doors, hardwood and tile floors. Gourmet kitchen with granite counter tops, Viking appliances and dining room. Great master with spa tub, separate shower, double sinks and walk-in closet. Office off living room, with French doors opening on to terrace. Rooftop access with sweeping views. Secured subterranean parking. Quiet and intimate complex. Furniture available separately.  Listed by Michele Hall - CB/Brentwood.

Spanish colonial masterpiece! A tribute to the old world along with the incorporation of modern accoutrements. Astute attention to detail with incredible stone & woodwork throughout. Features a library, formal dining room, 4-zone AC, 4 fireplaces, large breakfast room and kitchen of culinary perfection. Huge master suite with office, walk-in closet and luxurious bath with steam shower. Private access to rooftop deck with expansive 360 degree views. Separate guest quarters with game room, fireplace and bath. Deluxe covered patio.  Listed by Eric Hass and Mary Beth Woods - CB/Brentwood

The EPA has new rules that take effect April 22nd that require remodeling work on homes built before 1978 to be undertaken only by contractors certified by the agency in lead-safe practices.  (An EPA-certified contractor isn't necessary if the work doesn't disturb the paint, but that can be hard to know up front.)

The National Association of the Remodeling Industry recommends that home owners assume lead is present if their home was built prior to 1978 unless they're tested  and found it lead-free.  Certified remodelers will be required to display their EPA-certified training certificate to homeowners.

2010 HOME BUYER'S FAIR

Saturday, Sunday - March 13 & 14

Los Angeles Convention Center

Whether you're a first-time home buyer, or hoping to invest in foreclosures, the Southern California Home Buyer's Fair, sponsored by the Los Angeles Times and the CALIFORNIA ASSOCIATION OF REALTORS®, offers a free, two-day primer on the home-buying process.  This must-attend event is packed with more than 50 educational "how-to" seminars and a large exhibit hall, designed to help you navigate today's real estate market with confidence and peace of mind.  Read more about it here.

Current enrollment stands at nearly 57,000 students and only 1 in 4 applications are accepted each year from the 65,000 applications submitted.  Thus, right now is a great time to take action if this program is one you might be considering.  For more information, you can log on to: http://eChoices.lausd.net.

Fabulous atrium-style, light-filled architectural townhouse: 2BD upstairs and Den (possible 3rd BD), 3 patios and roof deck with OCEAN VIEW. Located 2 blocks from the sand, features new walnut floors, top-of-line euro-quality kitchen upgraded with Asko appliances plus Carrera marble and Dornbracht faucet.  Three-story dining room ceiling.  Master BD with fireplace has spa-quality bath including skylight, tub and separate shower.  Direct-access garage. Small complex with Beau landscaping.  Coastal living at its best: Main Street, BEACH, bike path, Farmer's Market and waterfront landmarks. MUST SEE!  Listed by Ruth Shari - CB/Brentwood.

Exceptional 3BD double unit with 3340 sq. ft. and fabulous floor plan.  Raised ceilings, gorgeous moldings, tremendous built-in cabinetry, panelled den with 3rd BD and large rooms to accomodate significant furnishings.  Large Living Room and Formal Dining Room, Breakfast Room, Butler's Pantry and Kitchen with separate laundry room.  The 'piece de resistance' is the master with double baths, exceptionally large walk-in closets with built-in cabinetry, double dressing areas, terrace with MAGNIFICENT VIEWS of the mountains, city and Los Angeles Country Club.  ALL CASH BUILDING and BOARD APPROVAL.   Listed by Michele Hall - CB/Brentwood.

Highlights for the month include:

Beverly Hills SFR - Pending sales up 300% over 8/08 and 71% over 6/09

Beverly Hills Condo - Pending sales up 50% over 8/08 and Sold Pricing up 81% over 8/08

Brentwood SFR - Pending sales up 92% over 8/08 and Sold Pricing up 30% over 8/08

Pacific Palisades Condo - Pending sales up 167% over 8/08

Santa Monica SFR - Pending sales up 50% over 8/08 and Sold Pricing up 15% over 6/09 and 8% over 7/09

Santa Monica Condo - Pending sales up 27% over 8/08 and 36% over 7/09

Westwood Condo - Pending sales up 25% over 8/08

I'm noticing on a much broader scale that inventories are shrinking considerably - escpecially when compared to the first part of the year.  Consider these August stats on Months Supply of Inventory:

Brentwood SFR - 6 MSI versus 32 in 12/08

Brentwood Condo - 3.7 MSI versus 9.6 in in 8/08 (61% decline)

Pacific Palisades Condo - 4 MSI versus 20 in 12/08

Santa Monica SFR - 4 MSI versus 18 in 12/08

Santa Monica Condo - 3 MSI versus 12 in 12/08

Westwood Condo - 8 MSI versus 20 in 12/08

As a reminder, inventories with 5 MSI and less translate to a seller's market.  As inventory is reduced, upward pressure on pricing could easily take place.  For a look at how the other micro-markets performed, click the Market Sales Data tab on the Menu Bar.

 Source:  CLAW/MLS

  Information not guaranteed. © 2008 Terradatum and its suppliers and licensors
                          (http://www.terradatum.com/metrics/licensors)

2ND ANNUAL CATALINA ISLAND FLYING FISH FESTIVAL

Celebrate the annual return of Catalina Island’s famous Flying Fish with a four day festival of family fun, May 28-31st. Enjoy the Taste of Avalon, the Casino’s 80th anniversary dance with Good Vibrations, the Flying Fish Parade and more. Get information today!

Visit their website for more info and go have some fun!

I've also heard that title and escrow companies have begun to rehire personnel to deal with the increase in activity.

Now back to those market segments with notable changes, which I'll list:

Beverly Hills SFR - Median Sold Price is up 14% over April '08

Pacific Palisades SFR - Median Sold Price is up 20% over April '08

What's also interesting is that in some of the micro-markets, there's a trending back towards a state of equilibrium, which is a balance of inventory and demand with Month's Supply of Inventory (MSI) as the metric.  Generally, about 5-6 months of inventory is considered a balance between a buyer's market (7+ MSI) and a seller's market (4 and less MSI).  Consider these April stats:

Brentwood SFR - 8 MSI (J-26, F-17, M-10)

Brentwood Condo - 5 MSI (J-22, F-10, M-7)

Santa Monica SFR - 8 MSI (J-19, F-21, M-9)

Santa Monica Condo - 5 MSI (J-10, F-9, M-6)

I'm not saying the worst is behind us, but on the other hand, these are indicators that seem to mesh with what's in the media suggesting the 'bottom' may be approaching sometime this year.  For a look at how the other micro-markets performed, click the Market Sales Data tab on the Menu Bar.

 Source:  CLAW/MLS

  Information not guaranteed. © 2008 Terradatum and its suppliers and licensors
                          (http://www.terradatum.com/metrics/licensors)

Did you know the best chance for selling your property is within the first seven weeks?

It's true.

Studies show that the longer a property stays on the market, the less the seller will net upon the sale. It is very important to price your property at a competitive market value at the signing of your listing contract. The market is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell.

An Overpriced Home:                                                                                          
· Minimizes offers
· Lowers agents response
· Limits qualified buyers
· Lowers showings
· Lowers prospects
· Limits financing
· Wastes advertising dollars
· Nets less for the seller

When you are ready, contact me today for a personal market value analysis of your home. No hassles or obligation - just honest advice on how to get top dollar for your home!

The entire community is invited to join in with the school along with other area schools, churches and organizations and unite under the theme 'Vote To End Hunger'.  Get healthy and beat-down hunger - a winning combo if I ever saw one!

The Pier (site of my very first job at age 12 at Minnie's Restaurant) features a broad range of activities.  From playing games and riding the new roller-coaster to taking in the breathtaking views of the beaches, there's fun for the whole family. To learn more about what's available, visit them at http://www.santamonicapier.org/fun.html. 

Our current dilema is certainly not the first stroll down misery lane.  Going back as far as 1970, California has recovered from two significant downturns.  The first was between 1978 and 1982 and featured a 61 percent plunge in sales that was driven by double-digit interest rates that put mortgages out of reach.  The second was between 1988 and 1994 and was sparked by a national recession that raged between 1990 and 1991.  Compounding the issue were massive job losses statewide in defense, aerospace and finanacial services.

It's important to note that market performance varies drasticallly by city and even between Zip codes.  What ultimately matters is the trend in local or micro-market prices (see my Market Data section).

The author concluded that 'timing matters a lot less if you are buying a home you are going to live in for seven or ten years'.  Further, timing the market may be neither possible nor advisable.  It could well make sense for buyers who adopt a long-term strategy to go ahead and buy when they find a home that both meets their needs and is affordable, as it just may not be available six months down the road.