Interest Rate Update

This week The Fed announced that they would hold their interest rates constant. Rates have come down a little since last week (Possibly a result of the Fed's announcement).

These are the approximate interest rates for this week of June 27th. 2008 for 30 year fixed loans for residential properties (single family homes and condominiums):

Conforming Loan (loan amount up to $417,000) - 6.25%
Jumbo Agency Loan (loan amount $417,000 - $729,000) - 6.375%
Jumbo Loan (loan amount over $729,000) - 7.625%

An alternative to the high interest rate of the 30 year fixed jumbo is the 10 year fixed converting Jumbo loan (loan amount over $729,000)- 6.375%

This information has been provided by Jim Greenwald of First Capital Mortgage at 310-434-1703.

The Coolest House on Caravan

811 Warner Avenue

This Classic three bedroom, two bath 1935 Traditional home in Little Holmby, Westwood has been beautifully restored recently and with a definite mid-century vibe. It features timeless design with great scale, proportion and symmetry and in my opinion, very well executed.

The home has wonderful authentic moldings and details. There is an updated kitchen, baths, wood flooring, new roof, central air and heat, a separate den/office with built-in bookshelves,
a formal dining room plus a charming junior dining room.

The home wraps around a private brick courtyard with fireplace. The furniture and furnishings that are used to stage the home, although not included, do a great job showing this home and complimenting all of the homes vintage character and details.

The home is listed for $1,995,000. If you'd like to see this home or for any inquiries please contact Mickey and Jamie at The Westwoodian at 310-442-1398 or 310-339-3525, email- mkessler@verizon.net, jtheis@camoves.com or the listing agent Michelle Ficarra of Prudential Realty at 310-777-2871, email- michelleficarra@aol.com. For more information visit http://www.811warnerave.com/.

Food - Simply Elegant Fare in Rancho Park

For all you food lovers and to those looking for new innovative restaurants, there’s something new lurking in your neighborhood…..Check out FOOD on Pico Blvd. A new local café and market with eclectic and delicious food. The café is owned by three people, two of which are husband and wife who live in the nearby area and have always dreamed of having their own restaurant. We love and support family owned businesses which unfortunately, seem to be much harder to come by these days. Food is somewhat reminiscent of "Joan's on Third" but on a smaller scale. Food however, retains its unique culinary vision by offering it's own signature dishes with a home-cooked vibe.

I had the grilled cheese sandwich and carrot apple soup which I highly recommend but the ginger cookie (baked fresh daily) was particularly delicious and when it comes to cookies, I’m a tough critic. The staff was very friendly and the “market items” for purchase were quite impressive and eclectic as well. Stop in, although lunchtime can be a bit hectic and crowded.

Check out their website at http://www.food-la.com/ for more information. Food is located at 10571 Pico Blvd LA CA 90064 (East of Overland, a few doors east of Intuition Clothing).

Posted by Jamie Theis