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josh barre: Real Estate Economic Blog: Sales Decline, Prices Drop - 02/25/09 06:33 PM
For January 2009
Existing Home Sales: fell by 5.3% to 4.49 million. It has declined by 8.6% over the past year.
Single-Family Existing Home Sales: declined by 4.7% to 4.05 million. It dropped 7.1% over the past year.
Condo/co-op Sales: tumbled by 10.2% to 440k. It dropped 20.3% over the past year.
Inventory of Homes Available for Sale: declined by 2.7%.
Average Home Price: fell 13.3%
Median Home Price: declined by 14.8%
If you need real estate advice, feel free to contact me or visit www.westsidehomefinder.com. If you are interested in seeing if now could be a good time to refinanance your … (2 comments)
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josh barre: Obama Housing Plan Q & A - 02/24/09 07:19 PM
The following is the Q & A on Obama administration's housing plan released by U.S. Treasury in Washington.
Questions and Answers for Borrowers about theHomeowner Affordability and Stability Plan
Borrowers Who Are Current on Their Mortgage Are Asking:
1. What help is available for borrowers who stay current on their mortgage payments but have seen their homes decrease in value?
Under the Homeowner Affordability and Stability Plan, eligible borrowers who stay current on their mortgages but have been unable to refinance to lower their interest rates because their homes have decreased in value, may now have the opportunity to refinance into … (1 comments)
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josh barre: Real Estate Economic Blog: Rates Fall, Activity Soars - 02/24/09 05:44 PM
For week ended February 13, 2009
MBA Mortgage Applications Index: increased by 45.7% compare to prior week to 875.3.
The Purchase Index: increased by 9.1% compare to prior week to 257.3, purchase activity is still 28% below its level a year ago.
The Refinance Index: increased by 64.3% to 4,472.9. Refinance activities now accounts for 75% of all mortgage activities.
30-year fixed rate fell by 20 bps to 4.99%
15-year fixed rates dropped by 34 bps to 4.66%
1-year Treasury ARMs dropped by 12 bps to 6.10%
If you need real estate advice, feel free to contact me or visit www.westsidehomefinder.com. If … (2 comments)
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josh barre: Obama Pledges $275 Billion to Stem Foreclosures and Help Borrowers - 02/24/09 03:28 PM
President Obama pledged $275 billion to a program that includes cutting mortgage payments for as many as 9 million struggling homeowners and expanding the role of Fannie Mae and Freddie Mac in curbing foreclosures. Treasury will buy as much as $200 billion of preferred stock in the two mortgage companies, twice as much as previously promised. Bringing down foreclosure rate will help stabilize housing prices. Treasury will develop loan-modification guidelines for the mortgage industry that will be used for the administration's foreclosure-prevention plan. Banks including Citigroup Inc., JPMorgan Chase & Co., and Bank of America Corp. have agreed to suspend foreclosure … (2 comments)
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josh barre: $8000 Tax Credit for First-Time Home Buyer (Update2) - 02/20/09 12:07 AM
(Update2)
$8,000 is a tax refund. Meaning if you owe less than $8,000 in tax, you still get a full $8,000 tax credit as refund check. Below is 3 scenarios for better understanding.
Scenario 1: If your tax liability is $6,000 and you paid $6,000 from your payroll witholding, you will get the entire $8,000 tax credit as a refund check.
Scenario 2: If your tax liability is $6,000 and you overpaid $1,000 through your payroll witholding, you will get the $8,000 credit plus $1,000 that you overpaid. A total of $9,000 as a refund check.
Scenario 3: If your tax liability is $6,000 and … (2 comments)
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josh barre: **NEW $15000 Tax Credit on Home Buyer Stimulus Package!! (Update 3) - 02/06/09 08:23 PM
(Update 3)The Congress has enacted the new $8,000 tax credit for first time homebuyer as part of the effort of The American Recovery and Reinvestment Act of 2009 to stimlate the US economy crisis caused by subprime mortgage and resulted in credit crunch. Please visit my new blog entry for more information.
(Update 2)Thank you for your interest in this blog. This is still in initial stage and has not been sign into bill yet. Hopefully this will sign into bill and boost our Real Estate Industry. For more info, please visit the following Wall Street Journal links dated February 9, … (71 comments)
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josh barre: Real Estate Economic Blog: Record Rise on Existing Home Sales - 02/03/09 06:01 PM
Sales of Existing Home: rose unexpectedly from a record low, propelled by the biggest slump in prices since the Great Depression as foreclosures surged. Purchases rose 6.5% to an annual rate of 4.74 million from 4.45 million in November. The number of existing homes on the market at the end of December represented 9.3 months' worth at the current sales pace, down from 11.2 months' at the end of November
Resales of Single-family homes increased 7% to an annual rate of 4.26 million. Sales of condos and co-ops rose 2.1% to a 480,000 rate. The rebound last month was led … (1 comments)
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josh barre: Kung Hei Fat Choi 恭喜發財!!!! Happy Chinese New Year!!! - 01/26/09 06:50 PM
Today is the 1st day on Lunar Calendar which is the Chinese New Year, year of OX.
Here I wish everyone a happy new year 新年快樂 (pronounce "Sun Nin Fai Lok" in Cantonese) and 恭喜發財 (Kung Hei Fat Choi). I learned that Kung Hei Fat Choi is the 1st thing everyone says to each other in Chinese New Year. It translated to "Congratulations and be prosperous", which is a great thing to say especially in Real Estate business. There's also a lot of four word phrase that Chinese say to greet each other.
Like wishing you:
身体健康 Good healthy … (3 comments)
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josh barre: Hillside Burglar Caught: 150 Break-Ins With Over $10 Million Worth of Cash and Property - 01/23/09 07:35 PM
Troy Corsby Thomas, 45, is alleged to have been the brains behind more than 150 daring break-ins in 3 years. The thieves hauled away more than $10 million worth of valuables and cash. According to police, the Hillside Burglars usually wore black clothes, ski masks and gloves when breaking into homes in Bel-Air, Beverly Hills and Holmby Hills, the so-called Platinum Triangle, Pacific Palisades Brentwood, Hollywood Hills and the hills above Encino and Sherman Oaks.
The lists of Thomas's victims are the rich and famous: homes of Hollywood celebrities, professional athletes, studio bosses, corporate titans and multimillionaires such as country music … (3 comments)
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josh barre: Real Estate Economic Blog: Rates Jump, Activity Drops - 01/23/09 06:29 PM
According to EAS, Mortgage Bankers Association (MBA) mortgage applications fell by 9.8% during the week ended January 16 to 1,195.3, reversing about 2/3 of the prior week's jump of 15.8%. The Purchase Index climbed by 2.5% to 303.1. Despite the recent decline in mortgage rates, purchase activity is still 31.1% below its year-ago level. The Refinance Index dropped by 12.4% to 6,491.8. Refinancing activity now accounts for nearly 85% of all new mortgage activity and its 55.4% above its year ago level.
Contract Mortgage Rates jumped last week. The 30-year fixed rate increased by 35 bps to 5.24% while the 15-year … (0 comments)
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josh barre: Real Estate Economic Blog: Record Low Housing Starts - 01/23/09 03:57 PM
Housing starts measure initial construction of residential units (single-family and multi-family) each month. According to EAS, it plunged by 15.5% in December to a record low of 550K. This was their lowest level since record keeping began in 1959. Housing starts have declined by 45% over in 2008 following a nearly 40% decline in 2007. Starts are now 75.8% below their January 2006 peak level.
Single-family starts are 48.9% below their year ago level after falling by 37.6% in 2007 and now 78.2% below their January 2006 peak level. Substantial declines in single family starts over the past 2 years have … (4 comments)
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josh barre: Salmonella Recall Peanut Butter Product - 01/22/09 06:58 PM
The salmonella outbreak has led to 474 reported illnesses and may have caused six deaths. Federal health officials say the salmonella recall now involves about 31 million pounds of peanut butter and peanut paste.
The following is the list of Peanut Butter Recall product. Please take your time to review the list. If you have purchased the following product, please take it back to the store. Most companies will offer refunds for recalled items, but you will need to contact them directly and should have your product handy for its identification code. For Kellogg's, call (877) 869-5633, and for Little Debbie, … (8 comments)
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josh barre: San Gabriel Valley Blog: What’s Happening in San Gabriel Valley - 01/22/09 06:09 PM
Noah's Ark Weekend Workshops
A Creature Celebration
Sun, Jan 25, 10 am-1 pm or 1-4 pm - Skirball Cultural Center
Come celebrate the New Year with a Chinese spin. Explore Noah's Ark for animals that relate to the Chinese Zodiac calendar, like the monkey and rat. Then return to the studio to create a take-home animal puppet. Ticket required.
Chinese New Year of the Ox 4707
110th Annual Golden Dragon Parade
Sat, Jan 31, 2 pm - Chinatown, Starting on Hill Street (See Map)
Without a doubt, the Golden Dragon Parade is the highlight of the Chinese New … (0 comments)
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josh barre: Malibu Blog: What's Happening in Malibu - 01/22/09 05:28 PM
Winter 2009 Story Times at Malibu Library
Starting the week of January 12, 2009Session will run 9 weeks ending March 12, 2009
Tuesdays 10:45 am - Baby Story Time A lap-sit program of stories, rhymes, bounces, music and movement for infants ages birth-18 mos. One adult per baby, please!Tuesdays 10:00 am - Toddler Storytime - Stories, rhymes, bounces, and movement for ages 19-36 mos.Thursdays 4 pm - Preschool Storytime - Books, rhymes, movement and art activities for ages 3-5.No registration is needed. All story times are free.
NCAA Men's Basketball
The Pepperdine Waves vs. The Gonzaga Bulldogs
Thu, Jan 22, … (1 comments)
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josh barre: Pacific Palisades Blog: What's Happening in Pacific Palisades - 01/22/09 02:42 PM
Local Education
Kehillat Israel Early Childhood Center: Parent Panel
Thu, Jan 29, 7 pm - Kehillat Israel16019 W. Sunset Blvd., Pacific Palisades
A panel of our current parents will answer questions posed by potential parents about our preschool program and community. Please RSVP to diane@kehillatisrael.org by Jan 27. ***Applications now being accepted for the 2009-10 school year for the ECC. Enrollment of new students begins on Mon, Feb 2.***The winter session of our Infant/Toddler program at Kehillat Israel still has spaces available in our Mon or Wed classes for parents and their children ages 4-22 mos.
Children's Nature Institute Presents
… (0 comments)
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josh barre: Santa Monica Blog: What's Happening in Santa Monica - 01/21/09 07:03 PM
Santa Monica
Inauguration Celebration With Kadir Nelson
Wed, Jan 21, 3:30-5 pm - Every Picture Tells A Story1311-C Montana Ave.
Come celebrate our 44th President. Award-winning artist KADIR NELSON will be here to sign "CHANGE HAS COME." His new book features the stirring words of Barack Obama and illustrations by Kadir. For more information, call (310) 451-2700.
Progressive, Innovative and Spirited Music Instruction
SOL-LA Music Academy - NOW ENROLLING
"Where Music Builds Humanity"1812 Stanford St., Santa Monica / (310) 828-2912
3 mos-5 yrs: FUNdamentals of Music and Movement - Early Childhood through Pre-K (Saturday).4-12 yrs: Chorus, 7-12 yrs (Monday); Strings … (1 comments)
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josh barre: Brentwood/Westwood Blog: What's Happening in Brentwood & Westwood - 01/21/09 06:58 PM
70 Years of Jazz Music
Blue Note 70th Anniversary - On Tour
Thu, Jan 22, 8 pm - UCLA Royce Hall, Westwood
To celebrate the 70th anniversary of the Blue Note legacy, an all-star band featuring some of today's finest musicians will travel the world celebrating this rich treasure trove of music. Led by Blue Note Records artist and pianist, Bill Charlap, the group will explore classic tunes by Bud Powell, Thelonious Monk, Horace Silver, Herbie Hancock, Lee Morgan, Wayne Shorter, and many others. Price: $26-$50
Fundraiser to Benefit Westview School - BrentwoodAttend an Exclusive Performance of the Pulitzer Nominated … (0 comments)
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josh barre: **$175 Million worth of FREE Cosmetics for the Ladies!! - 01/21/09 04:44 PM
A girl friend of mine sent me this link. Apparently a lot of department lost the lawsuit on over charging consumers for many years and now the lawsuit is settle to give away $175 million worth of free cosmetics for 7 days. A lot of you may already know about this and today is the 2nd day. So go while supply last!!!
http://www.cosmeticssettlement.com/
… (1 comments)
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josh barre: Wednesday Memory Improvement Tips Blog - 01/21/09 01:47 PM
Being present rather than Absentminded
Absentmindedness means what it says: Your mind is absent from where you are in the present. Don't expect to remember what you were doing if your mind was elsewhere. No doubt you're like most people who've misplaced their car keys or forgotten what they were going to buy after they arrived at the store.
Tips: Live your days with your mind in gear. Pay attention to little things in life. It will help in cases like misplacing the car keys. It's like leaving yourself clues and be able to put together pieces of information to locate … (2 comments)
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josh barre: How to Understand a Trillion-Dollar Deficit?? - 01/20/09 07:28 PM
I was browsing through articles and the word "trillion" caught my eyes. The word "trillion" doesn't show up often and there's no way I can related to that word. "There is a sense that when numbers are too big or too small, the brain just shuts off. People either don't think about it at all or there is fear, an exaggerated reaction." said Colin Camerer, a professor of behavioral economic at the California Institute of Technology. However, we should all be familiar to "trillion" now because President Obama said US deficit appears on track to hit $1 trillion soon. "Potentially we've … (2 comments)
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Joshua Barré Broker/Owner Westside Properties
Pacific Palisades,
CA
More about me…
Westside Properties
Address: 881 Alma Real Drive Suite T25, Pacific Palisades, CA, 90272
Office Phone: (310) 459-8191
Cell Phone: (310) 923-1157
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