The Vue is now leasing at least 4 units which showed up on the MLS today.  They are 2 bedrooms listed for lease for between $2200 and $4500 a month.

They also listed one unit for sale on the MLS for $554,204.  This one is a 2 bedroom, 2 bath 1045 sf unit.

The MLS can be viewed through my website at www.RebeccaChambliss.com

I also spoke to another attorney who explained how they organize the purchase contracts to be "iron clad."  That developments now use these contracts that are virtually impossible for the buyer to regain their deposit if they default. 

The issue is always being sure to READ the contract and understand it so you know what you are getting into.  The other issue is making sure in any real estate purchase that you have excellent single sided representation, whether that be your own Realtor, or attorney or both.

The Los Angeles city council voted almost unanimously to mandate spaying and neutering in Los Angeles.  It became law last October (2008) and was passed with the assurance that all residents of the city would be able to comply because the city made free and low cost spay/neuter vouchers available to low income, disabled and senior citizens.

The law was passed with no extra funding for spay/neuter, and no funding for enforcement.  The city controller, Laura Chick found after through investigation that the law should never have been passed, it was essentially unenforceable and made a mockery of "law."

Just this week, the city quietly ended the voucher program stating budget concerns left them unable to provide the promised vouchers for the rest of the year and eluded to the fact that they will not be available next year.

This leaves many low income, disabled and senior residents of the city unable to abide by the law.  The surgery to alter a pet can be as high as $700.  With no outside help, many of these people leave themselves open to fines up to $500, being charged with a misdemeanor and ultimately animal control can take their beloved pets away.

The L.A. city council must now undo it's wrong and repeal the mandatory spay/neuter law.  It is unacceptable to mandate action which many residents simply are unable to comply with due to financial situations.  Owning a pet should not be only for the elite.

I have contacted the city council and asked them to address this issue.  I believe the mandatory spay and neuter law should be repealed.  I encourage all residents of Los Angeles to contact their city council person and demand that the law be repealed.

In these challenging economic times, it is inhumane and unaceptable that the second largest city in the country thinks it's appropriate to mandate the residents of the city spend a large fee on complying with an uneforcable law.

UPDATE 3-14-09 Thanks to the Daily News for covering this story

And to the Associated Press for running with it.  The world now knows that passing the law was a mistake.

This news has made it to outlets all over the country.  It is significant National news because it shows the other cities considering MSN that it does not work.  Los Angeles needs to act fast to save face and repeal this law.

The recently passed federal stimulous package provides for a $8000 tax credit for first time home buyers.  So what constitutes a first time home buyer?  As with all things government, first time homebuyer doesn't mean exactly what it says.  It applies to legitimate first time buyers, but also to those who haven't purchased in 3 full years.

The credit has a few rules:

1.  The purchase must be for the buyer's primary residence.  It can be a single family home, condo, even a mobile home, but must be purchased with the intention to live in by the buyer.

2.  The buyer must close escrow no sooner than 3 years from a prior purchase.  So if the buyer closed escrow on March 1, 2006,  he can enter into escrow before March 1, 2009 but can not close escrow prior to then to get the credit.

3.  There are income limits to the credit.  A single person can not make more than $75,00 adjusted gross income and married people no more than $150,000.

That is about it.  If all 3 rules apply to you, 2009 is a great time to purchase.  Prices are at 6-7 year lows and interest rates remain lower than they've been in half a century.  

As the calls and emails continue to come in asking for information about what is going on with the condos downtown, I am well overdue for an update.

The Vue has been renegotiating contracts with buyers apparently.  Price and terms are both up for negotiation, I also hear they are working with a new lender who might be a little more flexible with buyers.

There are a number of people who have said they are walking away.  There is an attorney negotiating with the Vue attorneys to settle with a group of buyers who are unable or unwilling to close.  There are other buyers who are closing and planning to move in.  I haven't seen anyone there yet but I do know they are leaving lots of lights on at night to make it appear well lived in.

I haven't seen the offering plan, but I might suggest those of you who are still somewhere between a signed contract and closing to seek it out.  It should spell out the requirements of The Vue to enforce the contract, including a mminimum number of units that must be sold in order to enforce the remaining contracts.  It should be on file with the state and is a public document.

Interest rates are WAY down and if you are thinking of closing, it would be a good time to get locked in.  I suppose the units will need an appraisal and hopefully that will be reflected in the purchase price if they will renegotiate.

The Center Street lofts just down the way has reduced the sales price of all available units (they say there are 20 left.)  They start now in the low $200s and they are offering a 4% fixed rate to new buyers.  Not a bad deal at all.

The Bank Street lofts have gone to leasing them out after selling only 6 units apparently.  The plan to finish the second project is to NOT finish it from what I understand.

October 24-26 we will be once again having Spay Day LA to provide free spay/neuter services throughout Los Angeles.

Oct. 1 a new ordinance making it law that pets must be spayed/neutered in Los Angeles goes into affect.  Many people can not afford the surgery, especially in today's economy.  Spay Day LA provides a resource to those people who want to spay/neuter their pets.

Clinics will include mobile clinics in San Pedro, N. Hollywood, and West LA and private vet clinics in Lomita, Malibu and Los Angeles.

Oct. 25 there will be a big event at the WLA city shelter that will include a spay/neuter clinic, lots of vendor booths, a special adoption event (where all animals will be already spayed/neutered and groomed on site that day to take home right away) KIIS FM will be there broadcasting and giving away tickets and prizes, you don't want to miss it.

Spay Day LA is organized by FOCAS LA in partnership with LAAS

Today I called the sales office for the Vue.  I identified myself and was quickly transferred to the sales manager.  I started to ask questions and she refused to answer them.  She was quite rude and with a raised voice said, "We KNOW who you are!"  Gosh, the power of a little blog.

She insisted that 80% of the units were sold and that they were closing in October.  I asked how many units were still available and it was, "80% sold! 80 sold!" like a robot.  I find that odd since the ads have claimed 80% have been sold for over a year.

She questioned my motivation for wanting information and refused to give me any information.  At one point she asked if I'd like to come down and look at their sales record and my reply was, "if that is an invitation, then yes."  She then told me it was none of my business and I would not be allowed to view any records.

I informed her that I get hundreds of emails and phone calls looking for information and that my goal was to share information with Vue Buyers.  I have no interest in trying to sway people from buying or not buying anywhere.  I do think people have the right to know the true benefits and risks and I encourage anyone who is interested in buying to bring outside representation to protect their interests.

If Buyers get the same sort of secretive rude response, it's no wonder they are looking wherever they can for information.

If the Vue is interested in continuing to find Buyers, they might look for a new sales manager first and then offer incentives like Center Street lofts is offering of 4% 30 year fixed financing.  Now that is a deal.

I am totally supportive of development in down town San Pedro, however just building residential units won't do it.  There has to be more business that support the people who want to live there, a grocery store, clothing stores, more restaurants.  One can not exist without the other. 

Papadakis is now for sale, Catwalk shoes lasted less than a year and I just don't see new buisness coming to downtown San Pedro that is thriving, (well maybe Nosh that is a terrific little place.)

I think it's hilarious that the sales manager at the VUE thinks I have any input over her sales or lack of, and as always she should learn it's always better to treat people with respect and offer true information in any sort of sales if one expects to be successful.

3 Bedrooms 3 Bath 2200sf remodeled home just listed for $1,199,000.  Best deal in Manhattan Beach currently.

Remodeled kitchen with Subzero and Therm-adore appliances, high end cabinetry. 

Family room and separate living room BOTH with fireplaces

Large master with 3rd fireplace, huge master bath with spa tub and walk in shower for two.

Fenced front courtyard area has patio and lawn, plenty of room for kids' playset.  Second yard space has deck for entertaining and another grassy area.

This is a must see, do not miss opportunity in Manhattan Beach.

3412 Pacific Ave.

http://www.rebeccachambliss.com/

So many interesting developments here.  It appears Michael J. Rosenthal who purchased the property LESS THAN A YEAR AGO from John McCowan for $1.815 Million never really intended to keep the store open. 

Although he claimed he was selling the property to "developers" he is still has full title to the property and is clearly trying to develop it himself.  Not a very honest guy apparently.

Mr. Rosenthal has a very high percentage mortgage for the property, only putting $400,000 down for the purchase.  Now I've dealt with some true business people in my career and most have a little more cash to put down, especially on something like a grocery store...that is if they are planning to actually make the business work.

Here's another interesting tidbit...Rosenthal purchased his primary residence just a few years ago at 12131 Ballantine in Los Alamitos, CA for just $622,000 (public record.)  We're not dealing with a Bob Bisno here folks.  I've got a client I am working with to purchase the neighboring property.  His plan is to turn it into a recovery home for woman and children.  Rosenthal and his family should be pleased.

Rosenthal is saying he will bring a lawyer into fight (His lawyer appears to be David Jimenez of Los Alamitos) if he is not allowed to build his condos...I say, bring it on.  I would bet that lawyer will get mighty costly after a while and since Rosenthal has very low equity in both the McCowans site and his primary residence...It looks like it wouldn't make good fiscal sense to take on city hall.

Another thought, since commercial property taxes are kept low ($6422 per year for McCowans currently), since the building has been torn down...shouldn't the property value be reassessed?  He wants residential...how about 1.25% of the current value?  The tax assessor has a form to trigger reassessment.

One last thought.  I know no thought was given to asbestos management when the store was torn down.  I live upwind of the site and have had a cough ever since it was torn down.  Anyone else?

Okay really...last thought..NYC has Gramercy park.  The last privately owned park in the city that has equal ownership of the owners of the surrounding buildings.  Couldn't the surrounding property owners get together and purchase the land for a private park?  It would increase property values for those with ownership rights dramatically.  100 owners @ $18,000 each?

I'm very excited to be part of such an exciting event!

Spay Day LA will take place Sunday, February 24, 2008.

A number of private and public groups have come together to provide FREE spay and neuter throughout Los Angeles for one day.  All of the LAAS centers will have spay/neuter information as well as vouchers available for those who qualify and give-aways for all who come by to visit.

Please stop by the website, support our sponsors and partners and come see us on the 24th at all of Los Angeles City Shelters.

3 Bedrooms 2.5 Baths 2 blocks from the beach in wonderful gaslamp area.  Walk to everything.  Zoned R-2 on full size lot with ocean view.  Not yet on MLS...Less than $1.6M. 

For those looking to live near the beach, remodeled kitchen, new hardwood floors, great back yard with play set, living and family rooms and remodeled master suite.

For builders/developers:  Great opportunity.  Almost identical lot next door just sold for $1.7+

Seller's have found a new home and are motivated to move.

Contact me for additional information on this fabulous deal.

www.SandSectionRealtor.com