Joshua Barre Broker/Owner Westside Properties

UCLA

Larry King

Wed, Jan 14, 8 pm - UCLA Royce Hall, Westwood

A one night only live event with the stars from "Beyond the Secret," the follow-up to "The Secret," the film and book that, ‘explains with simplicity the law that is governing all lives, and offers the knowledge of how to create - intentionally and effortlessly - a joyful life.' Tickets: $40

Diesel, A Bookstore Presents:

Allen Edwards: Shear Force

Thu, Jan 15, 7pm - Brentwood Country Mart, 225 26th

DIESEL, A Bookstore in Brentwood is pleased to welcome the "hairstylist to the stars", Allen Edwards, as he discusses and signs his fascinating memoir, Shear Force, An Image-Makers Memoirs.

Fundraiser to Benefit Westview School - Brentwood
Attend an Exclusive Performance of the Pulitzer Nominated Play...

Love Letters

by A.R. Gurney
Sat. Jan 24 - 8pm - Brentwood Theatre, Brentwood
Starring Tony Shaloub "Monk", "Men In Black"
& Brooke Adams "Lace" & "Days of Heaven"

One night only. Proceeds directly benefit the Westview School, a nonprofit school providing a supportive environment for students with learning differences.

A Very Special Offer for Some of Our Favorite People. Our Neighbors

10% Friends and Neighbors Discount*

On Sunset at The Luxe
The Luxe Hotel - 11461 Sunset Boulevard, Brentwood
(310) 476-6571

* If you live within two miles of the Luxe Hotel Sunset Boulevard, please join On Sunset for breakfast, lunch or dinner and we'll take 10% off your total bill. It's our way of being neighborly and kicking off a new year which promises to get better and better. We believe once you experience the cuisine of our Executive Chef, Olivier Rousselle we'll become lifetime friends, not just neighbors. Offer valid 01/01/09-01/31/09

Program for Teens

How to Become a Better Public Speaker

Thu, Jan 15, 4 pm - Westwood Branch Library, 1246 Glendon Avenue

Toastmaster Evan Green will be here to give you tips on how to become a better public speaker. With many of you getting ready to present your science fair projects or to interview at prospective schools, this is a timely program that could help your chances to impress your evaluators. For more information, call (310) 474-1739.

Los Angeles

WOK and ROLL Family Cooking Adventure

Sat, Jan 17, 11 am - Japanese American National Museum (JANM)
369 East First Street

Bring the whole family for this hands-on cooking class of easy and healthy stir fry recipes (WOK) and sushi (ROLL) recipes the whole family will love. Cost: $25 members (for one child & one adult); $35 non-members, includes Museum admission and supplies. For reservations call (213) 625-0414, ext. 2222.

Barrington Recreation Center

Tennis

Mon-Thu, Dawn-10 pm; Fri, Dawn-7 pm; Sat & Sun, Dawn-Dusk

Barrington Recreation Center has four tennis courts which are available to the public, free of charge. For reservations and availability, call (310) 476-4866.

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

Christmas Tree Recycling

December 24-January 29, 2009

Do the right thing. Recycle your Christmas trees this year. In the City of Santa Monica there will be four locations you can take your tree to:
>> Christine Emerson Reed Park, 1133 7th St.
>> Douglas Park, 2439 Wilshire Blvd.
>> Clover Park, 2600 Ocean Park Blvd.
>> Los Amigos Park, 500 Hollister Ave.

Talk About It (Youth Book Club) -

Wed, Jan 14, 5 pm, Santa Monica Library, Montana Branch, 1704 Montana Ave, (310) 829-7081 Book discussion group for 5th, 6th & 7th graders. We'll be discussing "Diary of a Wimpy Kid" by Jeff Kinney. Copies of the book to keep, available for first five who sign up. Books, courtesy of the Friends of the Library.

Rusty's Surf Ranch Presents

Billy Vera

Sat, Jan 17, 9:30 pm - Rusty's Surf Ranch
256 Santa Monica Pier

Billy Vera & the Beaters are the quintessential L.A. band. The Baddest Band On Any Stand still sounds great live with their mix of Billy's smooth vocals and the rockin' horn section,(recently adding back in a 4th sax, just like the ol' days). Cover charge $7 over 21, $12 under 21.

Santa Monica Little League Registration

Register Soon! Tryouts In January 2009

Register online or print out the forms and send them in today. Opening Day is February 21 from 10 am-Noon at Memorial Park (Olympic and 16th) in Santa Monica. Fees: $110-$145.

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 Class, 7-12 yrs, minimum 1 yr. exp. (Saturday); Language of Music, 4-12 yrs (Monday); Beginners Violin, 6-8 yrs (Saturday); Theatre Improv, 7-11 yrs (TBD).
10-18 yrs: Garage Band Program, 10-18 yrs (Monday); Youth Jazz/Tango String Ensemble (Saturday); Vocal Program, 13-18 yrs (TBD).
Parent Education Series: Open Enrollment - Supportive Parenting for your Young Musicians. (TBD); Music for Adults (Saturday).

A Weekend With Director François Truffaut

Jan 16-18 & 21, 7:30 pm each eve - The Aero Theatre
1328 Montana Ave. at 14th Street, Santa Monica

Few directors exhibit a passion for cinema as intense and infectious as François Truffaut, who once said that any great film must express either the joy of making cinema or the agony of making cinema.
Jan 16: Double Feature 'Jules and Jim' (1962) AND 'Two English Girls' (1971)
Jan 17: 'The 400 Blows,' (1959) 'Antoine and Collette,' (1962) AND 'Stolen Kisses' (1968)
Jan 18: 'Shoot The Piano Player' (1960) AND 'The Last Metro' (1980)
Jan 21: 'Confidentially Yours' (1983) Film critic Kevin Thomas will introduce the screening.

Presented By The Sierra Club

Bienveneda/Leacock Trail Moderate Hike

Tue, Jan 20, 9 am-1 pm - Santa Monica Mountains

Not working next Tuesday? Join this 8-mile, 1600' gain hike to Temescal and Will Rogers parks. Meet at end of Bienveneda Ave. (Sunset Blvd. 1/2 mile west of Temescal Cyn. Rd., north 1 mile; park on street). Bring water and lunch. Rain cancels. For more information, call (310) 394-7354.

Santa Monica Library Presents

Family Fun with Ceramics

Sat. Feb 1, 2 pm - Santa Monica Main Library
601 Main Street, Santa Monica

Get ready for Valentine's Day by creating a work of art the family will love! For K to 5th graders and their parents. REGISTER BETWEEN JANUARY 12 - 23. Register at the Youth Reference Desk or call 310-458-8621.

Santa Monica's Farmers' Markets

Not one but three different Farmers' Markets in this city!
~ Downtown at Arizona Avenue between 2nd & 3rd Streets
Wednesday: 9 am-2 pm
Saturday: 8:30 am-1 pm
~ Virginia Park at Pico & Cloverfield
Saturday: 8 am-1 pm
~ Main Street at Ocean Park Boulevard
Sunday: 9:30 am-1 pm

There are 18 listings in Flint, Mich. for under $3,000. There are 22 in Indianapolis, 46 in Cleveland and whopping 09 in Detroit. In Detroit for instance, 3 bedrooms, one bathroom bungalow of about 1,000 sq feet listed at just $500. The foreclosure wave had turned banks into property management companies. They are often cheaper to give the foreclosed homes away than try to get market value for them. With prices this low, lenders aren't looking to make any money on thee deals. They just want to get these houses off their books so they don't have to bear the cost of maintenance and paying property taxes. The $500, $1,000 or $3,000 that a buyer forks over often goes straight to the real estate brokers as a commission. Often the lenders have to kick in extra cash to make it worthwhile for realtor to even take the listing.

These houses are always small fixer-uppers. Wiring, plumbing and heating system needs to be replaced. Walls, ceilings and kitchen counter to install. Buyers are legally required to rehab these homes to bring them up to code. After all the upgrade, it is still a bargain and may potentially increase its value down the line. Buyers can get government to help to finance these repairs. The U.S. Department of Housing and Urban Development (HUD) has a special loan program for these purchases. Its rehabilitation mortgage insurance, available through FHA-approved lenders was designed to encourage banks to issue a single, long-term loan to buyers that cover both the acquisition and the rehabilitation of a property.

Of course there's no foreclosed house listed at the price range in Southern California. But we can definitely help you find one at an affordable price. Click here to contact us today!

A report conducted by Jack Guttentag had shown the difference among various type of loan and prices offer by different depository institutions.

Here's a summary of the report:

Guideline:

Breaking down into two class sizes: $400,000 loan that can be purchased by Fannie and Freddie and $800,000 (jumbo) loans that cannot. Then compare various type of loans: 15 year, 30 year fixed rate as wells as 5/1 adjustable-rate mortgages (which is fixed for 5 year) within each class size. Prices were obtained from four largest depository institutions: Bank of America, Citicorp, Chase, and Wells Fargo.

Price Diversity:

The difference in prices quoted by different lenders was extremely large. On 30 year fixed rate mortgage, which spreads are usually the smallest, spreads are as high as 1%. Spreads are even larger for ARMs. On 5/1 jumbo Arm, one lender quoted 8.125% plus $9,800 in points, while another lender quoted 5.75% with zero points.

Conforming ARMs:

One striking fact about the current market is that conforming ARMs cost more than 30-year FRMs. The difference between the 30-year FRM and 5/1ARM, holding points constant was almost 1%. Furthermore, 3/1 and 7/1 ARMs were both higher than 5/1s. There's no reason for borrower to select a confirming ARM, but on jumbos, ARMs continue to enjoy a significant rate advantage.

15-Year FRMs:

15-year FRM has been the preferable instruments for borrowers who could afford the payment, because it carried a significantly lower rate than comparable 30-year and it amortized much more rapidly. The spread between 30-15 spread remains very attractive at about 0.625%

Interest-Only Version of the 30-year FRM:

Interest-only for the first 10 year on 30 year FRM has became popular. Borrowers could avoid making payments to principal for 10 years at a premium of 0.125%. In an environment of declining home prices, investors don't like loans that build no equity for 10 years and they have raised the premium to 1.4% to 2%.

To illustrate, one lender priced a standard 30-year FRM for $400,000 at 5.75 percent and the IO version of the same mortgage at 7.25 percent. This means that the borrower was offered a choice between paying a) $2,354 a month, of which $1,917 is interest and $437 is principal, and b) $2,416 a month, all of which is interest. This pricing eliminates the only benefit borrowers receive from an IO, which is the lower payment.

Paying Points to Reduce the Interest Rate:

Stressed markets do offer one significant bargain: buying down the interest rate by paying points. In 2005 it cost about 1.5 points to buy down the rate by .25 percent on a 30-year FRM. In early 2007 it cost about 1.125 points. Today the price is down to about half a point.

In part, the lowered price is due to the shorter average life of loans, which increases the value to investors of collecting points upfront. In addition, lower rates carry lower payments, which reduce the likelihood of default. In a stressed market, this carries a lot of weight.

Guttentag's report stressed the importance of mortgage shopping, which saving can be up to 1%. If you are interested in seeing if now could be a good time to refinance your home, or get pre-qualified for a loan to purchase a property, feel free to contact me or visit www.realpromortgage.com.

London housing - one of the most expensive places to live had dropped by their biggest annual amount in 56 years during 2008 as credit seized up and potential buyers stayed out of the market. House prices fell 15.9% in December from a year ago, the biggest annual fall since it started compiling statistics in 1952. Prices fell 2.5% in December from previous month, biggest one-month drop since May's 2.6% decline.

Length and depth of recession causes British economy so volatile that Nationwide decided not to issue full year forecast for 2009 house prices. The last time Nationwide did not issue a full year forecast was in 1993 when British market last crashed. Most economists doubt that 2009 will be any better, with unemployment heading toward 3 million in Britain, the downward pressure on house prices will likely remain.