REAL ESTATE FROM BEYOND THE GALAXY!

Not much chance of these "properties" coming on the market any time soon but these pictures from the Hubble Telescope are so astounding that I thought they were worth sharing.

Enjoy . . .

The Sombrero Galaxy - 28 million light years from Earth - was voted best picture takenby the Hubble telescope. The dimensions of the galaxy, officially called M104, are as spectacular as its appearance It has 800 billion suns and is 50,000 light years across.

The Ant Nebula (2nd place): a cloud of dust and gas whose technical name is Mz3, resembles an ant when observed using ground-based telescopes.. The nebula lies within our galaxy between 3,000 and 6,000 light years from Earth.

In third place is Nebula NGC 2392, called 'Eskimo' because it looks like a face surrounded by a furry hood. The hood is, in fact, a ring of comet-shaped objects flying away from a dying star. Eskimo is 5,000 light years from Earth.

At four is the Cat's Eye Nebula.

The Hourglass Nebula (5th place), 8,000 light years away, has a 'pinched-in-the-middle' look because the winds that shape it are weaker at the center.

In sixth place is the Cone Nebula. The part pictured here is 2.5 light years in length (the equivalent of 23 million return trips to the Moon).

The Trifid Nebula. A 'stellar nursery', 9,000 light years from here, it is where new stars are being born.

2731 Hutton Drive Beverly Hills 90210
offered at $3,995,000

This house is truly a retreat! Set a ways up off the street above Hutton Drive, this Architectural home ebodies "cool". Great scale, great lines, great finishings and exceptional water features including an infinity pool off the master; perched in an Alpine setting. This home makes an architectural statement yet is warm and fun: a great balance. At $2,450,000 we at the Westwoodian believe it to be a great value. Photos to follow.

Listing Agents Notes: Featured on LXTV ’s OPENHOUSELA. Done with warmth, style and comfort. Sophisticated ground up restoration. 4 BRM, 6 BTH. Dramatically sited up a long private driveway. Designed & equipped with all the amenities a star would expect. Offers the ultimate in designer style & comfort. No expense spared. Master suite encompasses entire 2nd floor with huge walk-in closet. Designer kitchen. Media room/lounge. Fully integrated indoor/outdoor sound. Romantic living rm with 14ft ceilings.Looking past the living room and the infinity pool to the lush canyon & vista views, you realize this is truly Cal living.

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- RC Thornton at 310.210.5315

WHERE ARE WESTSIDE REAL ESTATE PRICES HEADING . . .

Having largely bucked the trend of falling home prices experienced by most of the country, there is evidence that that may be changing. With all of the recent economic news as well as the trickle down effect resulting from several industries being hit particularly hard, there is much trepidation among buyers.

As a result the majority of buyers are watching homes and waiting for price reductions. What we are not seeing on the Westside is the glut of foreclosures occurring in other parts of the Southland. Up until now Westside home prices have held in large part because most home sellers that don't get their price are simply taking their homes off the market, or leasing in lieu of selling. This is evidenced by the growing number of expired listings (failed to sell) and homes on the market for lease during the last quarter of this year.


The other factor that is impacting this market is clearly public perception. The first sentence out of every (and I mean EVERY) person I talk with about real estate is "yeah, but no one can get a loan anymore". The reality is that's not the case. I just closed a THIRTY day escrow in 31 days with a 80% LTV loan on the Westside. My experience in this market has been that if you have good credit, full documentation and a 20% down payment; loans are available. And look at the PHENOMENAL interest rates available (refer to recent interest rate postings on this blog).

Many buyers are waiting for prices to come down some more. This might very well happen however, many sellers are waiting for early '09 to put homes on the market because they believe that by then the market will have improved. Do you see the disconnect there? I anticipate more leases. Remember that in large part real estate prices on the Westside are affected across the board. No home is being bought or sold in a "price vacuum" (all boats rise and fall with the tide).

For the buyer that is trading up this presents a wonderful opportunity in this market. For example: If a buyer sells a home for $910,000 (taking a 10% loss from $1mil) the $1.5 million home on the buy side would logically have dropped to $1,350,000.


If buyers are trying to time the market I hearken back to the memorable words of Fred Sands, "No one rings a bell when the market hits bottom." In fact I doubt people who bought homes in 1993, 94, 95, etc. regret their purchases. At the end of the day, home ownership provides buyers with an interest rate tax deduction*, freedom from the whims of their landlord, and a home to call their own.

I'm not trying to imply that everything is "hunky dory" but there are opportunities out there. Find a home that you like, consult with your Realtor and trust your instincts. History has shown us that regardless of the market, you can't beat a home purchase for long term investment and enjoyment.

Stay tuned as this story continues to develop.



*always consult with your accountant or tax planner.

INTEREST RATES DROP AGAIN!!!

Friday December 12, 2008 Interest Rate Update for Homes in The Glen. Rates continue to come down. Here are the approximate interest rates for this week of December 12. 2008 for 30 year fixed loans for residential properties (single family homes and condominiums):

Conforming Loan (loan amount up to $417,525) - 4.875%

Agency Jumbo Loan (loan amount $417,000-$625,00) -5%

Jumbo Loan (over $625,000) - 6.625%


The option to the 30 year fixed jumbo is the 10 year option arm at 6.375%


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


Posted by Leesel Boulware

Coolest House on Caravan

10948 Coventry Place

We here at the Westwoodian have seleceted a fantastic house for the title of Coolest House on Craravan. This bright, airy, traditional home is just so inviting and weloming. The home sits on a huge, flat lot just East of Sepulveda and North of National. The large living room opens to a huge great room (dinning room/kithcen) where we find a wonderful chef's kitchen featuring a huge center island and counter space galore. The top of the line appliances make it that much more enticing.

The french doors open to a large paved patio and an immense backyard with verdant gardens. The two-car garage in the back of the yard opens up for easy access to the alley. Inside, the three nice sized bedrooms are bright and airy and the master suit incledes a walk-in closet. The house has central heating and air and hardwood floors thoughout. The location of this house is spectacluar. Near the 405 and 10 freeways as well as Trader Joe's Whole Foods and Clover Shcool!

The home is listed for $859,000. 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.

Interest Rates Come Down!!

Friday December 5, 2008 Interest Rate Update for Homes in The Glen. Rates come down. Here are the approximate interest rates for this week of December 5. 2008 for 30 year fixed loans for residential properties (single family homes and condominiums):



Conforming Loan (loan amount up to $417,525) - 5.25%



Agency Jumbo Loan (loan amount $417,000-$625,00) -5.375%



Jumbo Loan (over $625,000) - 6.625%



Beccause the jumbo has come down nearly one point the alternative of the 10 year fixed coverting jumbo is not as appealing.



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



Posted by Leesel Bouwlare at 3:19 PM

OPEN SUNDAY NOVEMBER 23rd. 1-4 PM!

Discover this Very Strong Home TODAY! MOVE-IN Condition Under $300/sq.ft !

Elegant & QUIET 4 bedroom, 4 bath (3,656 s.f.) Traditional home, built in 1992, located in the Warner School district. Hardwood floors in most of the public rooms. Formal living & dining rooms with high ceilings. Large family room with cozy wood-burning fireplace, media cabinet & French doors; opens to lovely, private yard surrounded by lush gardens.

Enjoy the chef's kitchen with granite counters, Subzero refrigerator, center isle & endless storage. 4 bedrooms and 4 baths with great closet space.

Master suite with soaring ceils, office, fireplace, walk-in closet & huge bath with 2 sinks & spa tub. Attached, direct-access 2 car garage with parking pad for turning around, 3-zone AC! Don't let this one get away!

To see this home or for more information email Mickey Kessler at mkessler@verizon.net or call 310-367-2322.

OPEN TODAY IN THE BEL AIR AREA

OPEN TODAY

Here is a list of homes that will be open today in the Bel Air area. For more detail about these properties and for the complete list of all homes open today that are posted in theMLS.com, click here

3/ 3.00 167 ASHDALE PL
$ 3,450,000
N
631/H1
1-4

5/ 5.00 630 SIENA WAY
$ 12,900,000
N
592/A7
1-4

2/ 1.50 10404 RUTHVEN LN
$ 624,000
R
592/A3
1-4

4/ 3.75 1110 N BEVERLY GLEN
$ 1,148,000
R
592/B5
1-4

4/ 3.50 2267 ROSCOMARE RD
$ 1,499,000
R
591/H2
2-5

4/ 3.50
1411 STRADELLA RD
$ 1,800,000
R
591/J5
1-4

4/ 2.75 11532 THURSTON CIR
$ 1,995,000
R
631/H1
1-4

4/ 3.00 11715 FOLKSTONE LN
$ 2,195,000
R
591/G2
1-4

4/ 3.25 1740 STONE CANYON RD
$ 2,350,000
R
591/J4
1-4

4/ 4.50
1030 STONE CANYON RD
$ 3,149,000
R
592/A5
1-4

5/ 4.50 10932 SAVONA RD
$ 3,995,000
R
591/J5
1-4

5/ 4.50 10932 SAVONA RD
$ 3,995,000
R
591/J5
1-4

5/ 6.00 11610 BELLAGIO RD
$ 4,300,000
R
631/H1
1-4

4/ 3.50 1160 BROOKLAWN DR
$ 4,955,000
R
592/C6
1-4

6/ 5.50 1330 ROSCOMARE RD
$ 5,249,000
R
591/H5
1-4

4/ 4.50 1150 BROOKLAWN DR
$ 7,995,000
R
592/C6
1-4

5/ 6.00 800 NIMES RD
$ 16,900,000
R
592/B6
1-4

7/ 9.00 261 BARODA DR
$ 18,900,000
R
592/C7
1-4

LEASE
6/ 5.00 2501 ROSCOMARE RD
$ 6,995
N
591/H1
2-5
4/ 3.50 1160 BROOKLAWN DR
$ 19,500
N
592/C6
1-4

4/ 3.50 1411 STRADELLA RD
$ 6,000/month
R
591/J5

1-4

INTEREST RATE UPDATE

Friday October 31st., 2008 Interest Rate Update for The Westwoodian. Not much change from last week. Here are the approximate interest rates for this week of October 31st. 2008 for 30 year fixed loans for residential properties (single family homes and condominiums):

Conforming Loan (loan amount up to $417,000) - 6.25%

Agency Jumbo Loan (loan amount $417,000 - $729,750) - 6.375%

Jumbo Loan (loan amount over $729,750) - 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)- 6.5%.

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

Posted by Mickey Kessler at 2:31 PM

1110 N. Beverly Glen Blvd. Just reduced $200,000

Just reducede to $1,148,000

(previously listed with another broker for $1,975,000)!

This home has it all! Elegant, substantial & quiet 4 bedroom, 4 bath(3,656 s.f.) Cape Cod-Traditional home in the lower Glen, built in 1992, located in the Warner Avenue School district. This home features formal living & dining rooms with high ceilings.

The family room has hardwood floors, fireplace & French doors and opens to a lovely, private patio/yard surrounded by lush gardens. Huge kitchen with granite counters, Subzero refrigerator, center isle & endless storage. 1 bedroom at lower level, 3 beds up. Master suite with soaring ceilings, office, fireplace, walk-in closet & huge bath with 2 sinks & spa tub. Attached, direct-access 2 car garage, 3-zone AC! For more information email us at the Westoodian at mkessler@verizon.net or call Mickey Kessler at 310-442-1398 or 310-367-2322.

HUGE PRICE DROP! MUST SELL!

Open Sunday October 5th. 2-5 PM!

1110 N. Beverly Glen Blvd.

This is one of my new listings and it has just been recuced from $1,495,000 to $1,348,000! (previously listed with another broker for $1,975,000)!

This home has it all! Elegant, substantial & quiet 4 bedroom, 4 bath(3,656 s.f.) Cape Cod-Traditional home in the lower Glen, built in 1992, located in the Warner Avenue School district. This home features formal living & dining rooms with high ceilings.

The family room has hardwood floors, fireplace & French doors and opens to a lovely, private patio/yard surrounded by lush gardens. Huge kitchen with granite counters, Subzero refrigerator, center isle & endless storage. 1 bedroom at lower level, 3 beds up.

Master suite with soaring ceilings, office, fireplace, walk-in closet & huge bath with 2 sinks & spa tub. Attached, direct-access 2 car garage, 3-zone AC! For more information email us at mkessler@verizon.net or call Mickey Kessler at 310-442-1398 or 310-367-2322.

INTEREST RATE UPDATE

Beverly Glen, Friday September 19th, 2008 Interest Rate Update for Homes In The Glen:

With the uncertainty of the credit markets as well as the secondary mortgage institutions Fanny Mae and Freddie Mac, mortgage rates have ticked up a little this week. Here are the approximate interest rates for this week of September 19th. 2008 for 30 year fixed loans for residential properties (single family homes and condominiums):

Conforming Loan (loan amount up to $417,000) - 5.75%
Agency Jumbo Loan (loan amount $417,000 - $729,750) - 6.0%
Jumbo Loan (loan amount over $729,750) - 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)- 6.5%.

This information has been provided by Jim Greenwald of First Capital Mortgage at 310-434-1703. Posted by Mickey Kessler at 8:24 AM

COMING ON THE MARKET SOON . . .

Just the other day I was asked by another real estate agent to take a look at a home they were planning to list and put on the market soon. It's a common practice in the real estate business to consult with other agents familiar with the neighborhood where a prospective listing is located. The purpose is to brainstorm about list price, repairs and upgrades prior to going on the market, etc. I was asked if I could stop by and offer my thoughts and I was happy to oblige.

The home I saw was a wonderful surprise. It is located off the main road up in the hills and has a very lovely outlook. The home is in good condition and the grounds are very nice. At this point the home is not listed and therefore I can't quote a list price but I may be able to show it to prospective buyers as a "pocket listing".

If you have more questions or would like to see this home, contact me at mkessler@verizon.net or 310-367-2333.

New Listing at 1110 N. Beverly Glen Blvd!

Open Today Sunday September 14th. 2-5 PM!
1110 N. Beverly Glen Blvd.
$1,495,000

This is one of my new listings and I'm very excited about it. It is listed for $1,495,000 (previously listed with another broker for $1,975,000)!

This home has it all! Elegant, substantial & quiet 4 bedroom, 4 bath(3,656 s.f.) Cape Cod-Traditional home in the lower Glen, built in 1992, located in the Warner Avenue School district. This home features formal living & dining rooms with high ceilings.
The family room has hardwood floors, fireplace & French doors and opens to a lovely, private patio/yard surrounded by lush gardens. Huge kitchen with granite counters, Subzero refrigerator, center isle & endless storage. 1 bedroom at lower level, 3 beds up. Master suite with soaring ceilings, office, fireplace, walk-in closet & huge bath with 2 sinks & spa tub. Attached, direct-access 2 car garage, 3-zone AC! For more information email us at the Westoodian at mkessler@verizon.net or call Mickey Kessler at 310-442-1398 or 310-367-2322.

INTEREST RATE UPDATE

Friday September 12th, 2008 Interest Rate Update:

With the news that secondary mortgage market institutions Fanny Mae and Freddie Mac have been taken over by the federal government, rates have dropped again for the second time in two weeks. Here are the approximate interest rates for this week of September 12th. 2008 for 30 year fixed loans for residential properties (single family homes and condominiums):

Conforming Loan (loan amount up to $417,000) - 5.625%
Agency Jumbo Loan (loan amount $417,000 - $729,750) - 5.875%
Jumbo Loan (loan amount over $729,000) - 7.125%.

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. Posted by Mickey Kessler at 8:24 AM

INTEREST RATE UPDATE

Beverly Glen, Saturday, Friday September 5th, 2008 Interest Rate Update for Homes in the Glen:

There has been some volatility in the mortgage market with reports of the instability of the secondary mortgage market institutions (Fanny Mae and Freddie Mac) as well as some instability in the bond market. As a result, rates have come down a little since last week. Here are the approximate interest rates for this week of September 5th. 2008 for 30 year fixed loans for residential properties (single family homes and condominiums):

Conforming Loan (loan amount up to $417,000) - 6.0%
Agency Jumbo Loan (loan amount $417,000 - $729,750) - 6.125%
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)- 6.5%.

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

Posted by Mickey Kessler at 8:24 AM

INTEREST RATE UPDATE!

Saturday, August 02, 2008

Interest Rate Update
Rates have come down a little since last week. Here are the approximate interest rates for this week of August 1st. 2008 for 30 year fixed loans for residential properties (single family homes and condominiums):

Conforming Loan (loan amount up to $417,000) - 6.25%
Agency Jumbo Loan (loan amount $417,000 - $729,750) - 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)- 6.5%

This information has been provided by Jim Greenwald of First Capital Mortgage at 310-434-1703. Posted by Mickey Kessler at 8:24 AM