Dorene Slavitz

Housing Index shows the pace of home prics declines slowed in July..a sign that the market is near bottom!

The pace of price declines slowed in July for Los Angeles to -14% compared with the same month one year ago according the the S&P/Case -Shiller US National home price index.

These figures support stabilization nationally for Real Estate Values. We still need to remain observant in the coming months to see if the expiration of the first time homebuyers tax credit will effect these figures.

In Los Angeles including Orange County the 20 year index is now at 2003 levels, going back to just before home prices made their most dramatic gains in the housing "bubble"

Making Sense of the News

For first time homebuyers, this remains an ideal time to consider purchasing a home. Interest rates are low as are home prices . Realtors are working hard to extend the first-time homebuyer credits beyond the December deadline.

Housing Index shows the pace of home prics declines slowed in July..a sign that the market is near bottom!

The pace of price declines slowed in July for Los Angeles to -14% compared with the same month one year ago according the the S&P/Case -Shiller US National home price index.

These figures support stabilization nationally for Real Estate Values. We still need to remain observant in the coming months to see if the expiration of the first time homebuyers tax credit will effect these figures.

In Los Angeles including Orange County the 20 year index is now at 2003 levels, going back to just before home prices made their most dramatic gains in the housing "bubble"

Making Sense of the News

For first time homebuyers, this remains an ideal time to consider purchasing a home. Interest rates are low as are home prices . Realtors are working hard to extend the first-time homebuyer credits beyond the December deadline.

KaBOOM! - It's Playground Design Day

WHO: Children, Teens and Adults
WHAT: Design a new Veterans' Memorial Park Playground
WHEN: Thursday, October 1, 2009 - 4 PM to 8 PM
WHERE: Veterans' Memorial Building, Garden Room
4117 Overland Avenue, Culver City, CA 90230

Light dinner & free on-site child care will be provided

VOLUNTEER FOR PLAYGROUND DESIGN DAY HERE

"Design Day" on October 1, 2009 from 4 PM - 8 PM in the Garden Room at the Veterans' Memorial Building kicks off a community project to revitalize the Veterans' Memorial Park playground. KaBOOM!, a national non-profit that empowers communities to build playgrounds, has selected the City of Culver City as a community-build partner. Through the KaBOOM! partnership, the City and the Culver City Great Parks Association, with the help of community volunteers of all ages, will design and build a new playground for children ages 5 -12.

On Design Day, children and adults will participate in an interactive, high-energy, community meeting where children will have the opportunity to draw their dream playgrounds. Participating adults will learn more about KaBOOM! and the community-build process and be encouraged to sign up for planning committees instrumental in bringing the playground to life, including volunteer recruitment, fundraising, safety, food and logistics. Please click on the link above to volunteer.

The City Council, at its September 14, 2009 meeting, accepted the grant and approved the partnership with KaBOOM!. Project planning and coordination will continue through October and November and the new playground equipment will be installed in only one day! Mark your calendars now, "Build Day" will take place on Thursday, December 3, 2009 and nearly 100 volunteers will be needed to make the new playground a reality. Return to this site for updates as this exciting project takes shape.

The Wizard of Oz - September 12, 2009 at 7:30pm in Culver City's City Hall Courtyard.

Culver City City Hall is located at 9770 Culver Boulevard and parking and dining are available in Downtown Culver City.

For more information call the Culver City Cultural Affairs Hotline at 310.253.5716 or go to www.culvercity.org.

No reservations are required for this family event.

The Wizard of Oz, starring Judy Garland, received the Best Music, Original Song Academy Award for the timeless "Over The Rainbow". The story follows Dorothy Gale and her dog Toto as they travel from their home in Kansas to the magical land of Oz. The Wizard of Oz was filmed entirely in Culver City at MGM Studios and this year marks the 70th Anniversary of its release in 1939. Special permission for the screening has been provided by Warner Home Video in anticipation and celebration of the September 29th release of their spectacular newly restored Blu-ray version of this classic treasure. Made in Culver City celebrates the golden classics that were produced in "The Heart of Screenland". The City of Culver City has a unique film legacy and has been the home to Thomas H. Ince Studios, Hal Roach Studios, DeMille Studios, Metro-Goldwyn-Mayer, Selznick International Studios, RKO Pictures, Pathe, Desilu and, currently, The Culver Studios and Sony Pictures Studios. This year Made in Culver City is presented in association with Warner Bros. and sponsored by Sony Pictures Entertainment with participation by the Culver City Historical Society.

The West Side Los Angeles Market Conditionshave gone through a change which started in the beginning of the Summer traditionally one of the strongest seasons for home sales.

The First-Time Home buyer Tax Credits, along with the interest rates and short-sale market has produced a market condition where homes that are priced correctly for this market, are getting multiple offers.

This First time Buyer Condition, along with the very strong Investor Market..has buyers hopping to have the chance to pick up some of these well priced properties.

Many buyers are finding that they have been Out Bid on a property when an investor offers "ALL CASH" . In fact, some of the Short-Sale listings are demanding all cash offers! Some of the offers are high enough to completely eliminate the need for the seller to go into a Short Sale situation. It is not unusual for buyers to spend four (4) months or more before they are able to find the right property.