The Beverly Hills Real Estate blog Tuesday 11-24-09

Tuesday ... Plenty of sunshine and plenty o warmer temps!  70's at the beaches and mid 89's inland.  Dry conditions; please be careful in fire danger areas.  Short work week! 

My favorite TV show is House and I've finally figured out why; it's because that's what I'm doing now... Selling and buying houses.  The show is okay... but the name House is fantastic.  It's a subliminal mental confirmation to me that I must be doing the right thing being in real estate.  A lot of people must be into real estate because House is a very popular show.   Of course, I'm joking.  Looking for justification and validation from the universe to demonstrate to me why I'm doing what I'm doing.  Actually, what we're doing must be good.  Check out this article about house prices going through the roof!

http://news.yahoo.com/s/nm/20091123/bs_nm/us_usa_economy_housing

Speaking of doing good; have to see our daily video blog which is posted around noon time on www.paraquatkelley.com  everyday.   Click on Podcasts (right top of page).  Stop by and check us out... and send us a joke!

http://screencast.com/t/MTUyYzZkMDct

 

Meantime, have a great day and short work week.  See you tomorrow.

 

The Beverly Hills Real Estate blog Monday 11-23-09

Monday ... Plenty of sunshine the mid 60's at the beaches to low 70's inland... just like yesterday.  Short work week!  MNF tonight on ESPN... Is it an important game?  Don't know.  I seem to be getting tired of watching football on TV.  I saw that every Monday.  I guess there is little else to choose from.

Here's a question for you.  Have you seen the CBS promos depicting Kate Couric as a "journalist"?  Now that would be a great theme for a sitcom. Katie the Journalist.  She is depicted sitting at a keyboard typing (laugh track) Voice Over: When the truth is irrelevant; America turns to CBS (laugh track) 

What's happening to our world?  Wonder how she got the job?  We know... but it's not our place to start rumors. 

Speaking of journalism; you have to see our daily video blog which is posted around noon time on www.paraquatkelley.com  everyday.   Click on Podcasts (right top of page).  Stop by and check us out... and send us a joke! 

http://screencast.com/t/NDUyY2JlMDEt

The Open House Sunday in the southland was robust again.  Where did "robust" come from?  Let's just say it was really good.

Tonight on the CBS Evening News with Katie Couric; the ongoing expose into the death of truth in broadcasting.  Film at 11.  See you tomorrow.

 

The Beverly Hills Real Estate blog Sunday 11-22-09

Sunday ... Plenty of sunshine the mid 60's at the beaches to low 70's inland. 

Well after yesterdays defeat at home to CT... the best way to describe ND coach Charlie Weiss: "Dead Man Walking".  Those in charge of the ND football program are not very charitable when it comes to winning or losing.  Next Saturday we've got SC - UCLA.  The Irish travel to Stanford.

Sunday means:  http://viewer.zmags.com/publication/ec29d8bc#/ec29d8bc/1   See the open houses from your computer screen.  See something you like, give us a call!

Propertunities?  Yep, there out there.  Hollywood and Highland beautiful million dollar condos being sold for half to 60% off.  These are great deals and great opprotunities to get into the market.  Buy now, sell later for a profit.

You have to see our daily video blog which is posted around noon time on www.paraquatkelley.com  everyday.   Click on Podcasts (right top of page).  Stop by and check us out... and send us a joke!

http://www.screencast.com/users/melodyent/folders/Jing/media/cf48d31e-072a-4239-9393-84e93bcd933b

While Jon Gruden hopefully accepts a job offer from ND, we wish you a great Sunday and look forward to seeing you tomorrow!

 

The Beverly Hills Real Estate blog Saturday 11-21-09

Saturday ... The beginning of another Super Southern California Weekend!   A day with plenty of sunshine but cooler temperatures...  Mid 60's in the warmer areas.  The college football regular season winding down we're sad to report.

Saturday does means:  http://viewer.zmags.com/publication/ec29d8bc#/ec29d8bc/1   See the open houses from your computer screen.  See something you like, give us a call!

You have to see our daily video blog which is posted around noon time on www.paraquatkelley.com  everyday.   Click on Podcasts (right top of page).  Stop by and check us out... and send us a joke!

We see where Candy Spelling is standing firm on her asking price of 150 million dollars for the house she and her late husband built. That's 150 million!  As an agent, you only need to sell one of those a year.

Well, while I scan my rolodex for a buyer for the Spelling Mansion, wish you a great Saturday and look forward to seeing you tomorrow!

 

The Beverly Hills Real Estate blog Friday 11-20-09

Friday... A repeat day!  A day pretty much like yesterday with morning low clouds then sunshine.  60's at the beaches and only the low 70's inland.  Very cool. 

You have to see our daily video blog which is posted around noon time on www.paraquatkelley.com  everyday.   Click on Podcasts (right top of page).  Stop by and check us out... and send us a joke!

I've got Warner Cable after over 10 years of satellite service... I guess I don't get the NFL channel because I couldn't find last night's game.  Oh well, much to my surprise I awoke this morning none the worse... It's actually easy to miss a game. 

Front page article about the foreclosure market.  Foreclosures continue to rise.  1 out of 7 homes nationwide is delinquent in mortgage payments because of the unemployment situation. Hmmm... what about all that stimulus money?  Wow...

Meantime, I've heard that in upscale areas the foreclosure rate is going down.

Here's  some good news from the CNN money advisor:

Make money in 2010: Your home

Following three years of declining home prices, the end of the nationwide housing slump may be in sight.  Home sales consistently have been rising, the surplus of houses is shrinking, and most economists believe home values nationwide will hit bottom in the second half of 2010-but not before declining an additional five to 10 percent.  That's good news for homeowners hoping to sell or rebuild lost equity.

 MAKING SENSE OF THE STORY FOR CONSUMERS

Mortgage rates currently are below 5 percent, and should remain low for the next few months, partially due to the Federal Reserve's ongoing purchase of mortgage-backed securities.  However, if the economy quickly turns around and inflation fears resurface, rates could rise to as high as 6.5 percent, slowing demand and pushing down home values.

  • According to one analyst, the market will remain tilted in favor of buyers over the next year, but that power gradually will be reduced as conditions in the housing market continue to improve.
  •  Buyers hoping to purchase or invest in a lower-priced, entry-level home should expect some competition from investors and other buyers.  To remain competitive, buyers are advised to put down as much cash as possible, as many investors are offering to make all-cash deals.  Another factor to keep in mind is that offers below listing price often are outbid by others.
  •  Some home sellers are postponing listing their homes until the market recovers.  However, timing the market is difficult, so homeowners thinking of selling should carefully weigh their options.  Congress recently expanded the federal tax credit to include some existing homeowners, but they must close before June 30, 2010 to qualify.  Although existing homeowners are not required to sell their current home to qualify for the credit, those who plan to rent out their current residences should be aware that many lenders require borrowers to show they are financially capable of paying two mortgages, or show rental income for at least six months.  Discretionary sellers should discuss their options with a REALTOR® before making a decision.

 

That's it for today have a great one and see you Saturday!!!

 

The Beverly Hills Real Estate blog Thursday 11-19-09

Thursday a day pretty much like yesterday  with morning low clouds then sunshine.  60's at the beaches and only the low 70's inland.  We can dig it!

I guess the final episode of V comes on next Tuesday unless I misunderstood the promo that aired after this week's show.   There is a lot of stuff to resolve in the final episode.

Anyway, welcome to our blog posted daily by www.patandmelody.com 

You have to see our daily video blog which is posted around noon time on www.paraquatkelley.com  everyday.   Click on Podcasts (right top of page).  Stop by and check us out... and send us a joke!

Fast Facts 
Calif. median home price - September 09: $296,090 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region September 09: Santa Barbara So. Coast $750,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region September 09: High Desert $117,820 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Third Quarter 2009: 64 percent (Source: C.A.R.)
Mortgage rates - week ending 11/12/09 30-yr. fixed: 4.91% Fees/points: 0.7% 15-yr. fixed: 4.36% Fees/points: 0.6% 1-yr. adjustable: 4.46% Fees/points: 0.6% (Source: Freddie Mac) 

That's it for today have a great one and see you Friday!!!

 

The Beverly Hills Real Estate blog Wednesday 11-18-09

Wednesday with morning low clouds then sunshine.  60's at the beaches and only the low 70's inland.  Must be getting close to LA wintertime.  We love living in paradise.  

Are you watching "V" on TV?  It's the new ABC series about visitors from outer space who "come in peace" but have different plans.  Pretty interesting.  It started off pretty well but now after 3 episodes is getting pretty confusing... but I still want to know how it ends. 

Anyway, welcome to our blog posted daily by www.patandmelody.com 

You have to see our daily video blog which is posted around noon time on www.paraquatkelley.com  everyday.   Click on Podcasts (right top of page).  Stop by and check us out... and send us a joke!

Real Estate news:  Good info. to report today!

Median price of southland homes goes up 1.8*% in October signaling to some, the optimists the housing downtrend is over. This is a good sign that we're on our way back... and have been for months now, that's our take on it.  Full details in the LA Time front page article.  In Orange County it was the 7th consecutive rise in home prices.  Prices up 1.7%

That's it for today.  Have a great one and see you tomorrow!

 

The Beverly Hills Real Estate blog Tuesday 11-17-09

Tuesday and abundant sunshine for the area with seasonably cooler temps.  That means; near 70 at the beaches and into the mid 70's inland.  Nice huh?   Living in paradise has its benefits.

  Welcome to our blog posted daily by www.patandmelody.com  

You have to see our daily video blog which is posted around noon time on www.paraquatkelley.com  everyday.   Click on Podcasts (right top of page).  Stop by and check us out... and send us a joke!

I think Jon Gruden will make an excellent head coach at Notre Dame.   Can't wait. 

That's it for today.  Have a great one and see you tomorrow!

FOR CA REAL ESTATE AGENTS FROM CAR:

C.A.R. is rolling out new and newly revised standard forms today.  These forms have been added to our large catalog of forms provided as a member benefit to help REALTORS® conduct their real estate business.

Most notable among the forms being released is a revised Disclosure Regarding Real Estate Agency Relationships (Form AD).  The revised AD form aims at ending the confusion surrounding the form by allowing a buyer's agent to use just one form for both the seller and buyer to sign.  REALTORS® may now handle the delivery of the AD form in either of two ways:

  • Alternative A: Agents may continue the existing practice of generating three AD forms in a typical transaction. The first AD form is generally signed by the listing agent and seller before entering into a listing agreement.  Absent dual agency, the second AD form is generally signed by a buyer's agent and buyer before writing an offer.  The third AD form is generally signed by the buyer's agent and seller.  An AD form signed by the buyer's agent and seller does not create an agency relationship between the buyer's agent and seller because the AD form is merely an information sheet.  The actual confirmation of agency is stated separately in paragraph 27C of the C.A.R. Residential Purchase Agreement (RPA).
  • Alternative B: The procedure for Alternative B is stated in the explanation box at the bottom of the newly revised AD (revised 11/09).  Agents will still prepare the first and second AD forms stated in Alternative A.  The buyer's agent, however, may now deliver to the seller the second AD form signed by the buyer's agent and buyer.  The seller may sign acknowledgement of receipt of that AD form on the signature line in the explanation box.  No third AD form is needed under Alternative B.

Other new and newly revised C.A.R. standard forms include the following:

  • REO Advisories (Forms REO and REOL): These forms have been revised to inform the seller and buyer of the new Buyer's Choice Act that came into effect on October 11, 2009.  Under this new California law, an REO lender selling residential property up to four units cannot require a buyer to purchase escrow services or title insurance from any particular company.  Forms REO and REOL also clarify that the real estate brokers involved in a transaction do not require the buyer to purchase escrow or title services from any particular provider.
  • Property Management Addendum: This new form authorizes a property manager to withhold funds from the broker's trust account to submit to the Franchise Tax Board (FTB).  C.A.R. created this form in response to the FTB's announcement that, effective January 1, 2010, it will begin enforcing an existing law requiring property managers to withhold and send to the FTB seven percent of income payments to certain out-of-state property owners.  For more information, refer to FTB's Resident and Nonresident Withholding Guidelines at http://www.ftb.ca.gov/forms/2009/09_1017.pdf (see, in particular, Question 70).

For a complete summary of these and other forms in C.A.R.'s November 2009 Forms Release, click here.  Electronic versions of the November forms are currently available through WINForms(R) or zipForm(R) 6 at http://www.car.org/winforms/zipform6/.  Printed versions of the forms will be available this week at your local boards and associations or through C.A.R.'s online store at http://store.car.org.

See you Wedcnesday!

 

Monday   Sunny and about mid 60's at the beaches to mid 80's inland. It's Monday and we start all over again.

Last night's NFL game was great with the Colts winning.  Tiger Woods and Michele Wie win in their respective tournaments.  Guess what? More NFL action tonight and again on Thursday... Are you ready for some football?  Yeah, some football...  If this is some, I'd hate to see a lot.

Yesterday's Open House Sunday was "moderate" according to our sources.

According to a post in the Orange County Register; more foreclosures and short sales hit the area market. 

From the AP:

By STEPHEN OHLEMACHER, Associated Press Writer Stephen Ohlemacher, Associated Press Writer

WASHINGTON - More than 15 million taxpayers could unexpectedly owe taxes when they file their federal returns next spring because the government was too generous with their new Making Work Pay tax credit.

Taxpayers are at risk if they have more than one job, are married and both spouses work, or receive Social Security benefits while also earning taxable wages, according to a report Monday by the Treasury Department's inspector general for tax administration

  Welcome to our blog posted daily by www.patandmelody.com  

You have to see our daily video blog which is posted around noon time on www.paraquatkelley.com  everyday.   Click on Podcasts (right top of page).  Stop by and check us out... and send us a joke!

That's it for today.  Have a great one and see you tomorrow!

 

The Beverly Hills Real Estate blog Sunday 11-15-09

Sunday...  Sunny and warmer.  Mid 60's at the beaches to mid 80's inland, Low humidity; that means fire danger.  Be careful with things that could spark a fire`    Welcome to our blog posted daily by www.patandmelody.com  .  

Had a great time at the Equestrian Center Grand Prix last night.  Better time than USC and ND had.  UCLA wailed on Washington.  Pro football today.  And as you know;   Sunday means:  http://viewer.zmags.com/publication/ec29d8bc#/ec29d8bc/1   See the open houses from your computer screen.   See something?  Call us.

LA Times Business Section article on how you may qualify for a tax credit on a real estate purchase.  Most important; property cannot be more than 800,000.  Check it out.

You have to see our daily video blog which is posted around noon time on www.paraquatkelley.com  everyday.   Click on Podcasts (right top of page).  Stop by and check us out... and send us a joke!

That's it for Sunday.  Have a great one and see you tomorrow!

 
 
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Pat & Melody Kelley

Beverly Hills, CA

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Nourmand & Associates

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