Despite the lowest mortgage rates since May, applications for new home loans continued to taper off, according to a Mortgage Bankers Assn. survey released today.

Finally, the City of Beverly Hills has joined the City of West Hollywood in banning the declawing of cats.

This week the Beverly Hills City Council voted 5-0 to approve the declawing ban except in the case of medical emergencies. The City of West Hollywood instituted the ban back in 2003. The City of Santa Monica has recently voted 5-1 to adopt the ban.

What surprised me was that the California Veterinary Medical Association opposed the ban, claiming "The decision to declaw a cat should be made by the owner in consultation with their veterinarian."

Last month the Malibu City Council voted against a motion for a citywide ban.They did however adopt was a Resolution opposing declawing, but I think they did not go far enough!

What also surprised me was that the California Veterinary Medical Association opposed the ban, claiming "The decision to declaw a cat should be made by the owner in consultation with their veterinarian."

The book recounts Fitzgerald’s personal journey from unemployed single parent to entrepreneur, philanthropist and corporate executive in the competitive L.A. real estate metropolis.

From beginners just getting started to seasoned agents -- or anyone in business looking to take their game to the next level -- this step-by-step guide teaches readers the art of selling.

Order it now on Amazon.com.

Heart and Sold shows readers how to:

• Manage clients with style
• Choose the right company and the best mentor
• Establish a stellar reputation in their field
• Develop a daily schedule for running a home office
• Maintain a successful attitude every day

Heart and Sold shares the mind-set of a respected businesswoman who gracefully balances the demands of real estate with the intimacy of her family.

What They're Saying…

"Through her absorbing stories and life experience Valerie gives advice to anyone looking for a new beginning in their life or business. A great read." -- Larry King

"After reading this book, you will feel that you too can accomplish anything your heart desires." - Vanna White

"Heart and Sold is inspirational for any woman - or anyone - struggling to build a business of their own. Valerie's personal triumphs will make you feel like you can do anything." - Leeza Gibbons

Those Who Read The Book...

“I’ve been thinking about getting into real estate for years now and keep letting myself get side-tracked. I have been working on studying for the State Licensing exam, but was having a few doubts about my capability to make the jump and change my career.

After reading this book, I am now very excited. This book is both inspirational and informative. It’s full of helpful advice and references that can be used. Once I started reading the book, I couldn’t put it down and I plan to go through it again and highlight useful information. This will be a great desk reference as I move forward.

Thank you Valerie, for a great book.

I highly recommend it to anyone thinking about getting into Real Estate or already working in the field.” – Tania Brown

. . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . .. . . . . . . . .

“I am a Real Estate Broker and since completing this book, I have asked my Director of Education for my office to read this book as well. I’m thinking of making it required reading for any new agent coming to our Company.

I enjoyed the book for several reasons. The first, it is inspirational, and agents need inspiration more now than ever these days. The transparency of Valerie’s early life is highly admirable and endears a reader to her personally.

Secondly, the book is pragmatic in teaching agents the basics and human side of the real estate business, in addition to pointing out the need for business systems. I often disagree with the “Selling Philosophy” of some real estate trainers, but with this book, Valerie is right on. Valerie’s philosophy and mine are similar in that we both consider real estate sales more about building relationships and helping people achieve their dreams. The agent’s role is very crucial because they act as both the “Coach” and the “Quarterback” of the transaction.

Thirdly, this book is expansive because it is good for new agents entering the business, for agents that want to improve their business, and for seasoned agents that want to build a team. Great Book.” – A. May

Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the West Los Angeles brokerage community. She’s also the author of Heart and Sold: How to Survive and Build a Recession-Proof Business. Find it at Amazon.com

Take a close, hard look at the new $6,500 federal tax credit for so-called move-up home buyers that passed the Senate and House recently. Though it's been getting second billing to the original $8,000 credit for first-time purchasers -- now extended by Congress through June 30 -- the $6,500 credit for current homeowners just might have your name on it.

How does it work? When will it be available?

The new credit is available now. It took effect Nov. 6, the day President Obama signed the legislation that created it. This means that if you fit the key criteria -- you've owned and lived in your home for a consecutive five out of the last eight years, and your adjusted household income doesn't exceed $125,000 if you file taxes singly or $225,000 if you are married filing jointly -- you can claim the credit as soon as you close on a qualifying house.

That could be next week, next month or next spring. There is no "move-up" requirement in the new credit. In fact, homeowners who plan to downsize into a smaller dwelling may prove to be significant users of the credit, along with people who are moving because of employment changes.

If you fit the criteria and are considering buying another house sometime in the coming year, you might want to speed up the process and sign a contract by April 30 and close by the June 30 expiration date. Think of it this way: If the government is willing to give you $6,500 to act a little faster than you had planned, hey, why not?

Some other key features of the $6,500 credit you ought to know about:

* Whatever you intend to buy, the house cannot cost more than $800,000.

* The replacement house must become your main home. There is no requirement in the legislation that you sell your current home. You could rent it out, turn it into a second home or list it for sale later in 2010 when prices might be higher. If you plan to retain it, however, make sure that you move into the new house on the day you close so that there is no question it was your principal residence at that time.

* Like the first-time buyer credit, the $6,500 version permits a variety of dwelling types for your purchase. These include new or existing single-family homes, condominiums, manufactured or mobile homes, and boats that function as your principal residence. You cannot claim the credit if you are buying a second home or an investment property.

* The Internal Revenue Service is required by Congress to scrutinize claims for tax credits -- both for the $6,500 and the $8,000 credits -- far more closely in the coming months than it did earlier this year. This is because federal investigators have documented significant instances of fraud -- supposed home buyers who were as young as 4, and "sales" that were fabricated. Investigators also found numerous cases of technical violations, such as purchase transactions among immediate family members, which are prohibited.

The revised rules require taxpayers to submit copies of their settlement statements (HUD-1 forms), along with their requests for credits using IRS Form 5405. Congress' new rules also prohibit individuals under the age of 18 or who are counted as dependents on another taxpayer's filings from claiming the credit.

* Home buyers in 2009 -- those who go to closing after Nov. 6 but no later than Dec. 31 -- can claim the $6,500 credit on their 2009 federal tax returns, or amend their 2008 returns. Similarly, eligible buyers in 2010 will be able to file for the credit on their 2009 returns or 2010 returns. Talk to your tax advisor regarding timing decisions.

* If you aren't sure if you can make the deadlines established for the new credit -- a binding contract by April 30 and a settlement by June 30 -- do not assume that Congress will provide another extension. All the political and budgetary signs point the other way, and some of the primary authors of the credit insist that this is it -- no more extensions next year. Take them at their word.

One consumer resource that answers frequently asked questions about both the $6,500 and $8,000 extended credits is www.federalhousingtaxcredit.com, sponsored by the National Assn. of Home Builders.

From L.A. Times

kenharney@earthlink.net

First-time buyers made up a bigger share of the housing market in 2009 than any other year on record, according to a study released this afternoon.