Interest Rate Update

Here are the approximate interest rates for this week of July 25th. 2008 for 30 year fixed loans for residential properties (single family homes and condominiums):

Conforming Loan (loan amount up to $417,000) - 6.375%
Agency Jumbo Loan (loan amount $417,000 - $729,750) - 6.625%
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)- 6.5%

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

The Coolest House on Caravan

2112 Midvale Avenue

We at the Westwoodian were very impressed with this home. It has an open, airy feeling throughout that conveys a sense of ease and comfort and a hint that this home will live very well.

Per the listing agent: It is an a Exquisitely remodeled cedar shingled Cape Cod on quiet tree-lined street in desirable Westwood Charter Dist. This 3 bd. + 3.5 ba. home is inspired w/cottage style detailing-moldings, custom woodwork, distressed walnut floors thru-out.

Featuring marble countertops, Viking appl & ctr island, kitchen opens to FR w/fpl. Master w/fpl, 2 walk-in closets & vintage style soaking tub overlooks private garden. Sunlit w/ideal floorplan for entertaining. Imbued with charm & authentic details.

The home is listed for $1,497,000. 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. You can also contact the listing agent- John Woodward at Coldwell Banker- 310-777-6227, email- johnwoodward4@yahoo.com. For more information about this property you can also visit Zillow.com or LALife.com.

Interest Rate Update

These are the approximate interest rates for this week of July 18th. 2008 for 30 year fixed loans for residential properties (single family homes and condominiums):

Conforming Loan (loan amount up to $417,000) - 6.375%
Agency Jumbo Loan (loan amount $417,000 - $729,750) - 6.625%
Jumbo Loan (loan amount over $729,000) - 7.5%
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.

Intuition

INTUITION

Intuition is another crowd pleaser not just for West LA natives but it seems people from all over the city come to shop at this truly unique clothing boutique. It’s a celebrity favorite and has been published in many of the fashion/gossip magazines. Located on Pico just East of Overland, you will find all the latest and greatest trends and if you’re lucky, you may even spot a celebrity.

The prices are across the board from rather inexpensive tees, tanks and accessories to rather expensive dresses and party wear. I found the store to be a bit claustrophobic but the inventory was spot on.

The owner is a native to West LA and you know how we feel here at The WestWoodian about local “mom and pop” businesses. Stop in, check it out and support our neighborhood. 10581 Pico Blvd, Los Angeles, CA 90064. There’s free parking in back. If you’d rather shop online and beat the traffic, check out their website at http://www.shopintuition.com/. There are some great deals to be had here.

The Coolest House on Caravan

1938 Westholme Avenue

For the buyer who wants a luxurious Brentwood Park style home in a Westwood location, this clap-board traditional fits the bill. This New Construction home was just Completed July 1, 2008. It's a Traditional 6 bedroom, 5.5 bath Cape Cod residence on one of the most desired streets in Westwood, south of Santa Monica Blvd.
It is over 5,100 sq.ft. of living space on an oversized 7250 lot.



The home features a 1,100 sq.ft. "Four Seasons" style master suite with a marble bath and sitting area, office/Study. The living and dining rooms are well sized and open. In addition there is a great room with French doors that open to a large flat backyard. The kitchen is huge and features Viking appliances and opens to a family room. Systems include sound, home theater, CCTV ABD security.



The home is listed for $2,995,000. 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. You can also contact the listing agents- Michael and Marni Shore of Shore Real Estate at 310-435-2351 or 310-301-7968, email- Shorerealestate@sbcglobal.net. For more information about this property you can also visit Zillow.com

The Coolest House On Caravan

1608 N. Thayer Avenue

We at the Westwoodian chose this home for this weeks CHOC because it is so charming and well executed. This home is not of huge scale however it is naturally bright and has an nice open airy feel and conveys the sense that the home "lives well". As evident in the photos, it is nicely furnished/staged which adds to the homes emotional appeal. All this considered, we predict that this home will sell quickly.

This home is set above the street for privacy, this warm and inviting 1930's 3-bedroom, 2-bathroom residence has wood floors throughout, a fireplace, beautiful moldings and other original details.

Newly updated bathrooms and eat-in kitchen with stainless steel appliances, whole-house music, central air, and lots of natural light. The enormous, flat and lushly landscaped backyard is

completely private. Perfect for entertaining. Truly special place to come home to.

The home is listed for $1,595,000. 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. You can also contact the listing agent- Kira Gould of Keller Williams Realty at 310-963-9563, email- kira@house-philosophy.com. For more information about this property you can also visit Zillow.com

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

The Coolest House on Caravan

Our pick for The Coolest House on Caravan for this week is . . .

2120 Westridge Road

We were thoroughly impressed with this amazing, one-story view home in the Westridge Hills. Once inside, we were met with walls of glass overlooking magnificent mountain and ocean views.


The gourmet, cook's kitchen was carefully executed to offer a vast array of lifestyle options. The expansive master bedroom has stunning walls of tile, a free-form tub, and an over sized walk in-closet for all your needs.

The home wraps around an interior courtyard complete with a heated, private pool/spa and patio decking. In addition the property features loads of picture windows, two bedroom/ bathrooms and rich floors. A three-car garage puts an exclamation point on this truly unique living experience.

Everything, from this home's spacious, open and airy layout, to its fine architectural details makes this property a residential work of art.

For more information on this extremely cool, edgy home, or to schedule a showing, please contact The Westwoodian at 310-442-1398 or Keith Cox at 310-432-6410 or John Barrentine at 310-432-6408 from Keller Williams Realty.

Interest Rate Update!

Here are the prevailing interest rates for this week, as provided by Jim Greenwald of First Capital Mortgage at 310-434-1703.
30 Year Fixed Loans for Single Family Homes:
Conforming Loans (loan amount up to $417,000) - 5.7%Jumbo Loans (loan amount over 417,000) - 7.5%

The Coolest House on Caravan!

And Our Pick of the Week is.....

1024 Lindenwood Lane

We were blown away by this home's spectacular downtown to oceanfront views from this fabulous French Mediterranean. In the hills above Kenter Canyon, in Brentwood, a long private drive leads to large motor court on over an acre of land. The courtyard welcomes you to this home that features vaulted ceilings, stone pool and exterior barbecue type kitchen with immaculate gardens and 3-car garage.

Gourmet kitchen and two additional suites lend to this vista. The house is designed and sited by Gus Duffy Architect and features one of the most incredible sited homes in the area. Ocean to city views from a commanding promontory shared by the living room family room, master suite, and outdoor spa complete this fabulous property.

If you'd like to see this home or for inquiries, please contact- TheWestwoodian (310-442-1398),

mickey@mickeyandjamie.com) or the listing agents- Jana Jones-Duffy and Fred Holly (310-285-7535), or email The Westwoodian.

So What's Going On with Foreclosures?

There has been much written and discussed in the media about the current real estate market and the impact that the growing number of foreclosures are having on real estate prices. Is the media being "fair and accurate" in its depiction of the “foreclosure crisis” with regards to our local real estate market? Well, yes and no.

Her is a breakdown of foreclosure activity for Westwood and several other Westside locations.

As you can see by viewing this data, the number of homes that actually go into foreclosure on the Westside is still insignificant. Notice however that there has been a 100% increase in Westwood/ WLA 90025 from 2006 to 2007 and a 500% increase in Brentwood 90049! And so the media reports these sorts of statistics out of context and understandably you, the public out there think that the real estate market is crashing and burning. In fact this is what Jamie and I hear whenever we meet with homeowners concerned about the real estate market.

By contrast, take a look at these stats for some other neighborhoods:

What becomes clear from this data is that the market in these areas is being significantly impacted by foreclosures, but when the media reports this information and implies that this is a city-wide phenomena, that is inaccurate and irresponsible. And to this point, although the number of transactions on the Westwide is down from previous years the values are holding. Don't be fooled by active listings that have had their prices reduced. Those are likely the result of homes that were not priced correctly when they initially came on the market. Jamie and I just sold 1946 Midvale Ave. for $1,880,000. This exact home was purchased by the sellers as new construction in 2006 for $1,900,000. A drop of about 2%.

Nationally there huge numbers of bank foreclosures in many parts of the country that are coming back on the market as REO properties and drastically increasing the inventory of homes on the market. As supply grows it creates a downward pressure on prices. In addition, the overall economy in many parts of the country are feeling the effects of a recession and home-buyers are reading articles every day about the collapsing real estate market (sound familiar). These factors are in turn are leading to a decrease in demand for homes to purchase. The net result of a swelling supply and a diminishing demand has put significant downward pressure on home values and not surprisingly, home prices are dropping.

The reality is that real estate markets at this time are localized and need to be evaluated as such. We welcome your comments, please post.

The 7 Critcal Mistakes Sellers Make When Selling Their Home

The Seven Critical Mistakes Sellers Make When They Sell Their Home:

1) Overpricing your home. Pricing is the most powerful marketing tool for the home seller. Pricing is an art, not a science.

2) Failing to showcase/stage your home to show at its best.

3) Getting emotionally involved in the sale of your home (it's never a good idea to let your emotions take over).

4) Failing to completely disclose material facts regarding your home. 9 out of 10 lawsuits per rela estate attorneys arise out of non-disclosure matters.

5) Not knowing your rights, responsibilities, and obligations as a home-seller.

6) Not responding to ALL offers/choosing the wrong buyer. The highest priced offer may not be the right offer.

7) Failing to effectively market your home.

Le Saigon = Le Love

I must admit I’ve never had Vietnamese food, so I was a little weary when I first tried Le Saigon, but the second I saw the hot sauces (in ketchup bottles for easy dispensing!) at the table, my fears were quickly quelled!

The restaurant is cozy and charming, with great feng shui decor; the waitstaff seated us immediately, and were extremely attentive throughout the meal.

The fried tofu is outstanding (oh so crunchy and buttery!) atop a huge portion of veggies and slurpy, vermicelli noodles. For those rainy L.A. days (Yes, we do have winter in California, unbeknownst to my Chicago mind) try the noodle soup. It’s like a big, spicy hug that provides instant comfort.

But you must start with the spring rolls, which are overloaded with mint, basil, carrots, sprouts, and shrimp, and are tightlty nestled in clear rice paper.

I swear, peanut sauce makes everything better!

Le Saigon is located at 11611 Santa Monica Blvd in Los Angeles, CA. Phone: (310) 312-2929. Hours: Tue-Sat 11am-10pm, Sun 11am-9pm

Posted by Andie Karras

BYOB - Bring Your Own Bag!

Did you know Americans use over 14 billion plastic bags annually? Did you know that since plastic bags are not biodegradable, they remain intact for hundreds of thousands of years, choking our environment and endangering wildlife? Yes, that plastic bag will still be around in thousands of years, even when you’re not. Our goal at The Westwoodian is to leave a greener legacy, and to promote awareness about environmental issues threatening our planet.

How you can help:

Go to http://www.onebagatatime.com (or click on the article's title!) to learn more. Their website is a great resource for all things green. Here, you can purchase eco-friendly, reusable bags that are designed to replace up to 4 plastic bags at a time, and have a shelf life of up to 2 years or more! How great would it feel if the next time you were asked: “Paper or plastic,” you said neither!

Posted by Andie Karras

The Landmark Cinema Takes The Panic Out of The Movie Going Experience

I can’t tell you how excited I was to find The Landmark Cinema right here in Westwood! Whether you’re craving a mainstream, blockbuster movie, or a hard-to-find, one-week-release independent film, The Landmark offers the best of both screens for the cinephile in all of us. And speaking of cravings….

With the widest selection of concession goods, including frozen yogurt with your choice of three toppings (yes, they have a Yogurt Berry machine, the perfect compliment to a large popcorn with extra salt!), health-conscious drinks, including a bubbly concoction of lavender water (yes, water will flower extracts floating about!), as well as a candy selection that would make any dentist cringe (be kind to yours, he has fillings too).

Now for the logistics. Imagine being able to know whose sitting where before your movie begins. Or, take in how great it would feel to know that you won’t have to fumble in the dark looking for that meek spot way deep in the cheap seats! Yes, embrace technology. The Landmark Cinema lets you choose your seat hours before your movie begins. This way, you can shop at The Westside Pavillion, or catch up on reading at Barnes and Nobles without the stress of having to arrive early to beat the crowds, or worse, not knowing the movie is almost sold out that you end up blind and whiplashed from the dreaded front row (true story).

Oh, it gets better! An usher personally escorts you to your chosen seat, and they even introduce themselves and talk about the film before it begins, meaning the usher doesn’t just usher in and out, they actually hang around and want to be of service.

I am particularly fond of the living-room style seating, the kind of leather seats that encourage you to cuddle up next to your date, whispering the plot along the way. Just make sure you get two spoons for the yogurt!

Posted By Andie Karras

Restaurant Review

Cheng Du’s - Westside's Hidden Treasure

Located just west of The Westside Pavilion, this neighborhood restaurant has pizazz, panache, and a lot of sweet n’ sour sauce! Rated one of the top 10 “Best Chinese Cuisines” in Los Angeles by AOL City Guide, Cheng Du’s has truly earned their standing. I am particularly fond of their lunch specials, which boast hot n’ sour soup, egg rolls, and a main dish of your choosing for just 5 bucks! Yes, believe it, all that for 5 dollars!

For this Chicago transplant, Cheng Du’s ranks among my favorite Chinese “joints” ever. Huge portions that taste even better the next day,
I highly recommend the Moo Shu Chicken, made and served hibachi-style at your table. The wait-staff is extremely attentive, and is always willing to bring additionally sauces to the table (spicy mustard included)!

Cheng Du’s is my secret spot. Actually, I was told about it from a friend of a friend of a friend, but nevertheless, the menu has pages and pages of dishes that peak your curiosity for your next visit, and leave your taste buds a dancin'.

Cheng Du is located at 11538 W Pico Blvd Los Angeles, CA 90064-1520 Phone: (310) 477-4917 Hours: Sun-Thu 11am-10pm, Fri-Sat 11am-10:30pm

Posted by Andie Karras

The Coolest of Caravan for January 22nd.

New Listing at 738 N. Kenter Ave. in Brentwood!

Just listed in Kenter Canyon for $2,995,000! Stunning newly remodeled home with a beautiful park-like back yard, situated on a large lot (appx. 11,848 sf). Single level floor plan is open, ideal for indoor/outdoor living. Living & family rooms open to patio/garden with views of the surrounding landscape. 4BR/4.5BA, formal dining room, and cook's kitchen w/breakfast area. Finest materials and finishes are implemented - rich walnut and travertine floors, handsome cabinetry/doors, custom bookcases, fireplace, stainless steel and outdoor BBQ.

If you'd like to see this home or for inquiries, please contact- TheWestwoodian (310-442-1398) (mickey@mickeyandjamie.com) or the listing agent Julie Chandler at (310-979-3963) (jchandler@coldwellbanker.com) of Coldwell Banker.
Posted by Mickey Kessler

PINK BERRY HAS GONE COFFEE!

For all of you PinkBerry lovers, you would be pleased to know that after weeks of waiting, a third flavor has been introduced to the already limited menu. For several weeks now it has been very hush hush as to what the new flavor would be AND I am pleased to inform all of you that as of early last week the new flavor is……COFFEE. I am also pleased to tell you that it is delicious! I would recommend trying the coffee flavor with chocolate chips. Visit http://www.pinkberry.com/ to find a location nearest you. Posted by Jamie Theis