March Real Estate News Clip

"The California housing market in March continued to deal with problems in the real estate finance arena, rising numbers of defaults and foreclosures, and concerns about the economy. Sales of detached existing homes fell 24.5 percent from 422,300 homes in March 2007 to 318,830 homes in March 2008. Sales bucked a 4-month trend of increasing monthly sales, falling 6.4 percent compared to the February sales figure of 340,580 homes. The median price also continued its decline against prior month and prior year figures. The March median was $413,980, down a record-setting 29.0 percent from the median of $582,930 a year earlier."

Some of this may be the lower end stuff selling to developer/flipper types. The well off and well maintained property may not be in the sales volume right now. The ones I see actually selling are the better priced homes. The "deals" that are priced right. That may be adding to the heady news above.

On today’s Tuesday caravan there were two items that stood out. One a 1 bedroom Condo for 280,000 and a nice owner user type house with units.

Call me to ask for details if you are interested.

Keith L.
310-391-0821

I recomend Calamari Steaks!

Giant Squid. AKA Humboldt Squid AKA the Scourge of the West Coast.
“If you don’t eat them now, they may be the only coastal fishery left.”

If you go out on some of the California sport boats and get into these big guys... No Release. bring home Calamari Steaks for all your friends and Neighbors!



http://www.kqed.org/quest/television/view/774

Watch the Video. Listen for the conclusion line.

KL. <”><

The Season is... Spring

"IN THE SPRING, I HAVE COUNTED 136 DIFFERENT KINDS OF WEATHER. AND THAT WAS JUST INSIDE OF 24 HOURS." Mark Twain.

Bonds have weathered all kinds of ups and downs this spring, with this past week being no exception. Bonds did enjoy some high times starting with Monday's move to the upside after National City Corporation announced they would be receiving a $7 Billion cash infusion. This move suggests that investors are seeing value in the battered financial sector, and perhaps are feeling that there is a bottom being reached in the credit crunch.

In other headlines, Existing Home Sales met expectations, but New Home Sales numbers for March were worse than expected, possibly due to the large increase in the costs for materials needed to construct a home. But then there was a change in climate on Friday, as inflation news from around the World created some strong adverse headwinds for Bonds and home loan rates. Overall, home loan rates ended the volatile week unchanged to slightly higher.

Now is still a good time to take advantage of historically low home loan rates before more inflation talk pushes them higher. I'm always here to help advise...no matter the season!

Let me know what you want.

IF it is on the market we can find it.

Keith Lambert 310-391-0821

TAX TIME IS HERE AGAIN...

"I shall never use profanity...except in discussing house rent and taxes." ~Mark Twain. April 15 is just a few days away...and hopefully this year's tax season hasn't caused too much profanity in your household. Of course it's always wise to be careful about criticizing the IRS, but no matter what you feel like saying about them at the moment, they have compiled these helpful tips for last-minute filers:

Go electronic. The biggest advice the IRS has for last-minute filers is to file an e-return rather than a paper tax form. The IRS considers this the best step for ensuring that your return is complete and accurate.

Check it carefully - then check it again. If you choose to file a paper return, make sure you double-check your numbers and figures. The numbers to check most carefully are the identification numbers--usually Social Security numbers--for each person listed. Missing, illegible, or incorrect Social Security Numbers can reduce or delay a tax refund.

Also, you should double check that you have correctly calculated the refund or balance due, and that you have used the right figure from the tax table. If you are entitled to a refund this year, make sure that your financial institution's routing and account numbers are entered accurately. Incorrect numbers can cause the refund to be delayed or even misdirected.

Sign on the bottom line. Don't forget to sign and date your return. If you are filing a joint return, both spouses must sign it...even if only one had income. Also, anyone that you pay to help prepare your return must sign it as well.

Make payable to...? If you owe taxes this year, you must make the check out to "United States Treasury." Do not make the check out to "IRS." Your payment should be enclosed with the tax return or the Form 1040-V, Payment Voucher (if used), but do not attach your payment to either document.

Don't throw away those labels. If you choose to mail a paper return, use the peel-off label on the tax booklet. You can line through and make corrections right on the label if necessary. If you do not have a peel-off label, fill in all requested information clearly, including the Social Security numbers.

Don't be late! By the April 15 due date, taxpayers should either file a return or request an extension of time to file. Remember, the extension of time to file is not an extension of time to pay.

- Check IRS.gov

Saturday Fishing & Jackpot Winning

On Saturday we went out and got a few rock fish. The best fish of the day was for Ryan’s guest Adam. It was a good thing. We had a small MDRAnglers jackpot tournament and Adam took first place with a good sized fish. Another guest on our boat took third place, Jeff. Now we are ready to Win more stuff in the MDR Halibut Derby. Which would be very Cool.
Weather was nice for the most part. Some "Lumpy" waves though. A little unpleasant and hard to go faster than 8 knots.
Keith <"><

Great news in the fight for clean air on Westside of Los Angeles

SM CITY COUNCIL UNANIMOUSLY PASSES ORDINANCE BANNING LARGER, FASTER C&D AIRCRAFT


Following a study session that lasted almost four hours, and included public comments from a packed council chamber of Santa Monica and Los Angeles residents, including LA Councilman Bill Rosendahl, Santa Monica City Council unanimously passed the second reading of their ordinance that will take effect in 30 days, according to SM Mayor pro-tem Richard Bloom.


Follow link to learn more...

Concerned Residents Against Airport Pollution
Website: jetairpollution.com

loan news... What a big week we had.

In the News: Bonds and home loan rates wildly rocketed higher and plummeted lower on a daily basis throughout the last week. In the end fixed home loan rates ended up improved by about .25% for the week

The big news from the Office of Federal Housing Enterprise Oversight (OFHEO), who announced that they lifted special capital restrictions that had been put in place for both Fannie Mae and Freddie Mac. This will allow these firms to pump $200 Billion into the mortgage market by way of buying Mortgage Bonds. The anticipated increase in demand was very good news for Bonds and home loan rates, which immediately improved on the news.

Keith L.