Cathy Contreras Stephens of Pasadena

How Can Renters Solve the Housing Crisis?

Residential real estate is not rocket science. We know that this housing crisis is:
1. Explainable – bad lending, mad speculation, wild expectations, government meddling
2. Isolated – bad mortgages, negative equity, strategic default, government meddling
3. Temporary – demand for housing always catches up to supply eventually

Anyone with any experience and perspective will agree that this market will recover over the next 10 years, but what will this particular recovery look like? Since the root of the problem was unprecedented, the solution might be as well.

My belief is that renters are going to solve the housing crisis.

Homeownership rates have fallen by a few percentage points, which has translated into more than four million new rental households in just the past few years. According to the Census, 1.4 million of those were added between July 2010 and June 2011, showing that this trend is accelerating.

As a result, rental rates are growing at more than 5% per year, and this trend is also accelerating.

As a result of this, investors are pouring capital into American housing with a long-term mindset, kicking this trend into hyperspeed.

This crisis will not be solved by enticing home buyers. Their confidence is waiting for unemployment to come down and government to act responsibly, which could take a while.

But investors are confident right now. Why? Because they see the big picture. Rental demand equals stable cash flow. So what can be done to encourage them?

How about eliminating archaic waiting periods for investors who want to buy foreclosures? How about eliminating waiting periods for investors who paid cash and want to tap it with a refinance? Today they have to wait months to put that money back to work. Why not eliminate the overall bias against investors in FHA, Fannie Mae and Freddie Mac and require big down payments to make it safe to lend, and lend.

Better yet, keep your eyes peeled for a private sector player to seize this opportunity to create America’s first national investor mortgage brand. The estimates are that half a million investor loans close every year, and who owns that niche? No one.

The Martial Arts teach you how to use the weight and momentum of your opponent against them (or so they say in the movies). This is the same thing. This drastic increase in rental demand is a by-product of the foreclosure crisis. Use it against the crisis by turning it into positive cash flow investments for those willing to be confident and take a risk in this environment.

Burn off that shadow inventory and create housing options for newly minted renters, which will, in turn, stabilize rental rates, and everybody wins. Good credit renters and buy-hold investors will be the heroes at the end of this saga.

Greg Rand is CEO of OwnAmerica.com and former managing partner of Better Homes and Gardens Rand Realty.

For more information, please visit www.ownamerica.com

One of Pasadena’s most recognizable commercial properties, a retail and office complex in the South Lake Avenue commercial district known as the Commons, has been sold for $21 million. The Commons covers two acres and includes buildings at 140 to 142 South Lake Avenue and a garage at 155 South Mentor Avenue.

The 87,000-square-foot property is anchored by the Williams-Sonoma building, which was completed in 1912. It is also home to restaurants, including Green Street Cafe, the Counter, Lemonade and Cafe 140. Other retail tenants include the Pasadena Cheese Store, Carmody & Co. and the Wine Detective.

Arenda Capital Management, a Los Angeles private real estate investment firm, and AEW, a Boston pension fund advisor, bought the Commons from SRO Properties of Los Angeles, brokers said. The off-market deal required Arenda to assume an existing loan funded by commercial mortgage-backed securities, said Carlos J. Lopez, president of Hanley Investment Urban Retail Advisors, who represented the buyers.

Roger Vincent, 2011 Tribune Company, Sun Nov 27 2011 6:55 AM

Thursday, December 1, 2011, 6pm-7:30pm: The Pasadena Humane Society will be hosting a low-cost vaccination clinic…
361 S. Raymond Ave. Pasadena, CA 91105 ~ Phone 626-792-7151 **

Saturday, December 3, 2011, 6pm: The Mobile Outreach Unit will be at the Montrose Christmas Parade

Sunday, December 4, 2011, 8am-3pm: The Mobile Outreach Unit will be at the Pasadena City College Flea Market

Thursday, December 8, 2011, 5pm-9pm: Pet Night With Santa at One Colorado .
Bring your favorite furry or feathered pal to sit – or perch – on Santa’s’ lap to pose for photos ~ Spend a little quality time with the world’s biggest celebrity and have the One Colorado paparazzi capture the memory. A portion of the proceeds will benefit the Pasadena Humane Society and SPCA. Call 626.564.1066 for more information.
Plus there will be LIVE performances by local children and adult choirs in the Courtyard.

** Adoption Hours: Tue-Fri 9am-5pm, Sat 9am-4pm, Sun 11am-4pm, Closed Mon
Boarding/ Kennel/ Office Hours: Tue-Fri 9am-6pm, Sat 9am-5pm, Sun 11am-5pm, Closed Mon

City Hall has released Pasadena’s numbers from the 2010 federal Census… Pasadena now has a population of approximately 137,122, which is about a 2.5% increase from 133,936 over the past decade. The census showed a 24% decline in African-American residents, a 46% increase in Asians, a 3.2% growth in Latinos, a 1.4% growth in Caucasians. The increases occurred mostly in the 60-and-up age groups. The City has prepared a report, “Evolving Demographics in Pasadena,” which is available on the City’s website.

A group known as Occupy the Rose Parade has set its sights on Colorado Boulevard for New Year’s Day, promising to bring 40,000 protesters to Pasadena on January 2, 2012.

Spokesman Peter Thottam, who with anti-war activist Cindy Sheehan led a 2008 action at the Rose Parade calling for the impeachment of then-President George Bush, said he’s been getting the message out via the Internet.
“We’re putting word out to occupiers from around the country,” Thottam said. “Our plan is to make a human float. It’s going to be historic I think.”

The Rose Parade has been staged since 1890, and originally served as a showcase for the city of Pasadena. Floats in the modern parade are often sponsored by major corporations and the event is broadcast around the world.
Thus, in the eyes of some, the annual parade is a perfect stage for the Occupy movement. Thottam said he plans to take full advantage of the opportunity.

Thottam said he’s contacted Tournament of Roses and city officials and has met with no resistance to the plan.
“We don’t see them as a potential threat,” police Deputy Chief Darryl Qualls said. “We understand why they may be coming.”

An unidentified Rose Parade spokeswoman told the L.A. Weekly on Wednesday that Thottam’s plan is “not a surprise” to parade organizers.
Occupy the Rose Parade has no affiliation with the Occupy Pasadena movement, Occupy Pasadena officials said.

It remains unclear whether the groups will merge or even support one another’s future endeavors, said Esteban Gil, a 23-year-old Occupy Pasadena activist.
“There has been some chatter about how we are going to address the issue, but there has been no formal declaration or position taken by the group,” Gil said.

There is mutual respect among members of both groups, but no working relationship.
“The Occupy Rose Parade people have been doing their thing on their own and that’s cool,” Gil said. “We have not talked about it at the Occupy Pasadena’s General Assembly for endorsement or any other relationship.”

But not all share Occupy Pasadena’s nonchalance about the ORB movement.
Patrick Briggs, 44, of Pasadena, a MoveOn.org activist who attends Occupy Pasadena events said the Pasadena group would need to reach a consensus before going forward with any support of the Occupy the Rose Parade plan.

But it’s not likely.

“Disrupting cherished city traditions is really not the appropriate step to take,” Briggs said. “Maybe at a later time we would protest or occupy the Rose Parade because the parade is really too corporate. We don’t think it’s an effective strategy right now.”

Nonetheless members of the Occupy Pasadena movement recognize the Rose Parade as a great opportunity to draw attention to the cause.
“It is tempting to leverage all that media, but the parade feels like it’s something that is such a part of the fabric of Pasadena that we don’t want to go there,” said Maddie Gavel-Briggs, 46, of Pasadena, and a MoveOn.org activist. “We have been sensitive to the corporatization of the parade. In the last eight or 10 months municipalities have pulled out, so who is going to step in? The corporations.”

Briggs wondered about the effect 40,000 members of the Occupy crowd would have on the parade.
“When you do activism you have to balance out your goals with how it will be perceived in the community,” he said. “So you can achieve the goals of seeking awareness in the community and sympathy from that same community.”

In recent weeks, Occupy Pasadena has aimed its frustrations at Bank of America and Chase. Armed with signs – some of which were provided by organized labor – the protesters have called for corporations and the government to prioritize people over profits. Protests outside the Chase Bank building at the corner of Lake Avenue and Colorado Boulevard have been peaceful gatherings of between a few dozen and a little more than 100 protesters.

Qualls points to those events as typical of the Pasadena political protest scene and something Thottam’s group of protesters can take a cue from.
“You have groups that come here to protest the banks,” Qualls said. “Those people don’t have a permit. They come in, they protest and they leave.”

By Brian Charles, Staff Writer, Pasadena Star News Staff writer Frank C. Girardot contributed to this story.
Posted: 11/09/2011 10:54:16 PM PST

No other UCLA tradition generates as much fanfare, nostalgia and excitement as the Beat ‘SC Bonfire and Rally. Held the week leading up to the UCLA-USC football game, this celebration embodies not only the rivalry, but also the tremendous spirit of UCLA students, the loyalty of fans and the love of generations of UCLA alumni.

Before the big game at The Coliseum this Saturday, November 26, celebrate being a Bruin at the ultimate spirit event!

Monday, November 21, 7:30pm at Wilson Plaza on the UCLA campus in Westwood!
Featuring the premiere of a New 8-Clap Heard Around the World… PLUS:

7:30 p.m. Pre-show/ Student Dance and A Capella Performances:
Lambda Theta Alpha Stroll Team
Samahang Modern
Scattertones
NSU Modern
Bruin Harmony

8 p.m. Rally:
UCLA Spirit Squad
UCLA Marching Band
Coach Rick Neuheisel ’85 and the UCLA Football Team

Plus more performers and speakers to come!

Bonfire… The night is capped off by the lighting of the 30-foot bonfire in front of thousands of cheering Bruins.

Cleck below to…
Print Alumni VIP Pass (PDF)
Join Beat ’SC on Facebook
Order Game Tickets

And if you can’t be there in person, WATCH IT LIVE ONLINE!!!
.

The Elves Faire at the Pasadena Waldorf School is on Saturday, November 19, 2011 from 10am to 4pm ~ FREE admission ~
Great holiday shopping, amazing music, hands-on crafts, fun games for all, the Angel Room, silent auction, giveaways, tasty bake shoppe and other fabulous food, a doll room, puppet shows, Wishing Well… and important admissions and enrollment information.

209 East Mariposa Street in Altadena (91001)

Freddie Mac vendors sold fewer REO properties in the third quarter than they did earlier in the year as nonperforming loans continue to climb.
More than 25,300 repossessed homes held by Freddie Mac sold in the third quarter, down 13.5% from the nearly 30,000 in the previous three months. It was also a 17% decline from the record-setting 31,600 sold in the first quarter.
At the same time Freddie unloaded the 25,300 REO, it repossessed another 24,300 homes back into the inventory. At the end of the quarter, Freddie held 60,000 REO on its books, which has been trimmed — as new foreclosures are completed — from 75,000 one year ago.
If the current trend holds, and the GSE reduces a net 1,000 REO from its inventory every quarter, it would take 60 quarters to unload its entire inventory — roughly 15 years.
And that’s with a severely constricted foreclosure pipeline due to recent servicing problems and new regulations. As it opens up, the market will be asked to absorb even more REO sales just to remain on that current trend.
“The pace of REO acquisitions remained slow in 3Q 2011 due to continued delays in the foreclosure process for single-family mortgages,” Freddie said. “We expect these delays will likely continue into 2012. However, we expect our REO inventory to remain at elevated levels.”
Meanwhile, nonperforming assets continue to mount. These troubled mortgages totaled $127.9 billion, or 6.6% of its total mortgage portfolio, in the third quarter. That’s up 3.2% from the previous quarter.
To help manage the still mounting problem holding back housing and as an extension the overall economy, the Obama administration and the Federal Housing Finance Agency began asking market participants for ideas on selling these properties in bulk and even possibly renting them.
Before a House subcommittee Thursday, FHFA Acting Director Edward DeMarco reiterated that such a strategy will not be implemented nationwide but on a local level.
“We are not looking to develop a single, national program for REO disposition. We are most interested in proposals tailored to the needs and economic conditions of local communities,” DeMarco said. “We received nearly 4,000 responses to the RFI and are reviewing the submissions.”

November 3, 2011 ~ Article printed from HousingWire

Tips for Selling Your Home Before the End of the Year:
The fourth quarter of the year can cause some sellers to worry if their home hasn’t sold yet. But according to Trulia.com, there is still time to sell. Typically, many buyers are eager to move and get settled in before the school year and holidays begin but that doesn’t mean you should be discouraged. While the spring is considered a peak selling period, I recall looking for a home in the winter months and successfully closing just after the New Year. However, I am on the west coast and location does make a difference. Looking for homes in California doesn’t require driving around on icy roads, trudging through snow-covered walkways or stormy weather. Even if you’re not in more mild climates, there is still time to sell your home.

In fact, there are some key factors that may help sell your home. First remember that the number of buyers may be reduced as we head closer to the holidays. Many people simply don’t want to juggle the holiday rush and house hunting.

On the other hand, there will be some serious buyers looking for a very nice holiday gift for themselves. If they’re out shopping in dreary weather or nearing the holidays, it could be because they’re extremely serious about making a purchase before the end of the year. With this in mind, be sure to make the most of every showing. Don’t let things slide with the upkeep of your home because you are juggling selling a home, working, taking care of the kids, etc. Selling your home in the fourth quarter must be a priority, and the closer to the beginning of the quarter the better.

When considering how long to keep your home listed through the holidays, experts suggest looking at the rate of sales activity in your market. Some areas can be pretty bleak, but that doesn’t necessarily mean there’s no chance of selling. Remember that some people may even have tax reasons and need to purchase before the end of the year.

Expert staging of your home will suit you well. This is a time of year when homeowners bring out a lot of decor that may be very appealing to them–pumpkins, turkeys, holiday and religious ornaments. In fact, they can annoy buyers and make the house seem cluttered. I’m not saying that you can’t have some nice seasonally appropriate decor. I am, however, saying that the fourth-quarter sale requires a good strategy like using an expert stager. If there are a reduced number of buyers seeing your home, make the most of each showing by having a spectacularly staged and clutter-free house to show off. Staging provides a competitive advantage.

Another reason this fourth quarter may see more buyers is that interest rates remain historically low. The potential threat of a rise in mortgage rates could have more buyers eager to lock into an excellent rate, even if it means a move during the holidays.

However, you might also negotiate the sale and make arrangements so that you can still stay in your home for the holidays and make the move after the first of the year. Another effect of the holidays, buyers tend to be more emotional and may spend more money during this time of year. Couple that with potentially fewer homes on the market and you may have the perfect setting for an ideal sale.

Written by Phoebe Chongchua

Wednesday Work Days begin every October and continue through May. They meet every Wednesday from 9 – 10 a.m. in a public garden or park to help beautify that area in collaboration with the city. This one-hour endeavor includes weeding, dead-heading, raking and any other gardening needs necessary. Guests are welcome on any and all Wednesdays! Click HERE for more informaton and how to contact.
Also, If you see a spot that could use a tree in any part of the city (not on private property), simply call (626) 795-9704 or email ‘Pasadena Beautiful’ at pasadenabeautiful.org.

The Pasadena Beautiful Foundation was founded by residents of Pasadena in 1960 with an interest in Pasadena’s trees. They were concerned that the city didn’t have enough funding to continue planting trees in public areas, which was, and is, one of the main reasons that Pasadena is beautiful and what attracted people to establish roots here.
Tree planting throughout the city continues to be our most important focus. To celebrate their 50th anniversary, they celebrated by planting 50 trees in the Linda Vista area.
During the past 50 years, the Foundation Board has broadened its focus and now includes other vital programs.
All this exists due to many hours given by an enthusiastic board of the Pasadena Beautiful Foundation and the generosity of the many members who continue to support this admirable Foundation, which helps keep Pasadena beautiful.

Interest rates fell to new lows in September. Low interest rates increase affordability and should make it easier for buyers to qualify. Yet stories of buyers waiting months to gain loan approval and home purchase transactions not closing on time due to lender’s strict underwriting are all too common.
Some buyers are turned down for illogical reasons. For instance, if you have investments — even if they’re performing well — an underwriter might deny the mortgage because your portfolio doesn’t fall into the underwriter’s risk assessment model. One couple was turned down because the husband had worked at his current job for less than a year — even though he was making more money at the new job than he was before. These buyers were well-qualified. The wife had worked several years for one employer and was able to qualify for the loan on her own. So, the transaction closed, although two months late.
Generally, it’s more difficult to qualify now than it was a year ago.
Most conventional lenders require a 20-25 percent down payment. For the lowest interest rates, your credit scores need to be in the 700 range. You need to have verifiable income and cash reserves in addition to your down payment and closing costs.
You could run into underwriting problems if you’re self-employed, as W-2 income is much easier to verify. Other hurdles are lapses in employment and owning a lot of property. Some lenders won’t lend to buyers who have more than three or four residential properties.
If you’re buying a new home before selling your current home, you’ll need to have 30 percent equity in your current home. This needs to be verified by the lender’s appraiser. Also, the lender will want to see a copy of the cashed check from the tenant for the first month’s rent to verify rental income if needed to qualify.
HOUSE HUNTING TIP: As soon as you’re serious about buying a home, find the best mortgage broker or loan agent you can to assist you. Don’t make your selection based on interest rates alone. A good track record counts for a lot.
Closing the deal should be your primary goal. If you have to pay 0.25 percent more to assure your transaction closes on time and that you’re not turned down at the last minute, it’s worth it.Be candid with your loan professional about anything in your financial picture that might impact loan qualification. A good loan agent or broker will be able to assess your financial situation and anticipate what you’ll need to do to satisfy the underwriter.
Be aware that appraisal issues can impact your loan approval. For example, if a previous owner added square footage without a building permit, the additional square footage probably won’t be included as livable square feet. If the appraisal comes in for less than the purchase price, the lender might not lend you enough to close the deal. Include an appraisal contingency in your contract.
As of Oct. 1, the conforming jumbo mortgage limit for expensive housing markets like New York City and San Francisco dropped from $729,750 to $625,500. In some cases, conforming jumbo lenders have moved into the market to pick up some slack. You can expect to pay about 0.25 percent more for a 30-year fixed-rate conventional jumbo loan, in some cases. However, today’s lower interest rates will help boost affordability. There are more jumbo financing options available now. Adjustable-rate mortgages that are fixed for 10 years and then revert to an adjustable have a starting rate about 0.25 percent less than a 30-year fixed jumbo. A five-year fixed starts about 0.5 percent to 0.75 percent lower, but is riskier. Because of the risk factor, the lender may want you to have a large cash reserve. Your retirement account counts toward this.

BY DIAN HYMER, MONDAY, NOVEMBER 7, 2011; Inman News™
Dian Hymer, a real estate broker with more than 30 years’ experience, is a nationally syndicated real estate columnist and author of “House Hunting: The Take-Along Workbook for Home Buyers” and “Starting Out, The Complete Home Buyer’s Guide.”

The Pasadena Star-News reported that City Hall recently approved the concept for development of one of the last open parcels in Old Pasadena — the parking lot at the northeast corner of West Green Street and South Fair Oaks Avenue. One Green Street, in association with Green Street based Gonzalez Goodale Architects, would replace the surface lot with a three-story, 45,000 square foot development, to include restaurant, retail and office space, plus two levels of underground parking. Over the past six or seven years, several efforts have been made to develop the lot. The project will be reviewed by the Planning and Design commissions, with the developers hoping to break ground as early as January 2012.

Buyers and contractors alike are looking for new ways to incorporate green technology into homes. Not only do these upgrades save money in the long run, but they also go a long way in preserving Mother Earth.

Have you heard about the government’s “green” homeowners’ incentives? Take a moment to see how you can upgrade your home and get money back!

There are two basic tax credits available for those interested in making energy efficient improvements to their homes:

First, the Wind, Solar, Geothermal and Fuel Cell Tax Credit. It’s good for both existing homes and new construction, when used for a homeowner’s principal residence.

Homeowners will receive a credit totaling 30 percent of their cost for improvements put into service between January 1, 2011 and December 31, 2011.

Here’s a list of what can qualify:
Geothermal Heat Pumps
Solar Panels
Solar Water Heaters
Small Wind Energy Systems
Fuel Cells (on this item the credit may not exceed $500 for each 0.5 kilowatt capacity; other limits apply in the case of joint occupancy)

The second notable credit is for Qualified Energy Efficiency Improvements, which gives a 10 percent credit for purchases that were “placed in service” this year.

This particular credit does have a limit, with “the maximum credit for a taxpayer for all taxable years being $500, and no more than $200 of such credit may be attributable to expenditures on windows. This rule means that taxpayers who have claimed $500 or more of this tax credit in prior years, particularly 2009 and 2010, can no longer participate in the program.” (NAHB)

Let’s take a look at what qualifies. According to the National Association of Home Builders an item qualifies if it…

Meets or exceeds the prescriptive criteria for such a component established by the 2009 International Energy Conservation Code as such Code (including supplements) (or, in the case of windows, skylights and doors, and metal roofs with appropriate pigmented coatings or asphalt roofs with appropriate cooling granules, meets the Energy Star program requirements);

Is installed in or on a dwelling located in the United States and owned and used by the taxpayer as the taxpayer’s principal residence;

The original use of which commences with the taxpayer;

That reasonably can be expected to remain in use for at least five years.
These items can include building envelope components, insulation materials or systems, exterior windows, skylights, doors, storm windows and storm doors, metal or asphalt roofs, advanced main air circulating fans, and qualified natural gas, propane, or oil furnaces or hot water boilers.

Perhaps most important is how one goes about filing these claims. First, keep every single receipt, along with make, manufacturer, and model number on items. You can file these credits alongside your taxes using Form 5695. If you have lots of credits and deductions to take, it might be wise to enlist the help of a tax professional. Also check out http://energystar.gov/taxcredits for more information!

Written by Carla Hill

Huntington’s renovated Japanese Garden to reopen in April 2012
In time to mark its centennial, the Japanese Garden at the Huntington Library, Art Collections, and Botanical Gardens will reopen April 11 after a yearlong $6.8-million renovation.
Among the highlights, officials said Thursday, will be the installation of a ceremonial teahouse that was built in Kyoto in the 1960s. It will be set in a traditionally landscaped tea garden on a ridge above a 19th-century Japanese house that is one of the Huntington’s landmarks. The wooden house is being restored as part of the project, which also includes the creation of a waterfall connecting the tea garden and ponds below and repairs and upgrades to the ponds and to bridges, pathways and water system.
The Japanese Garden is “arguably the most popular spot at the Huntington,” says James Folsom, director of botanical gardens at the San Marino institution. The 9-acre site “teaches us about Japan’s unique landscape traditions, craftsmanship, horticulture and rituals,” he says.
A century ago, Huntington founder Henry E. Huntington created the garden on his estate, relocating the house, which originally came from Japan, as well as plants and ornamental elements from a commercial tea garden in Pasadena. A moon bridge was built by a Japanese craftsman soon after the garden was established; a rock and sand garden and a bonsai exhibition area were added in 1968.
After Huntington’s estate was opened as the Huntington Library in 1928, the Japanese Garden became a favorite destination for visitors, although it was closed for several years surrounding World War II. The San Marino League, the garden’s chief philanthropic group, has helped to support refurbishment of its buildings and its landscaping, which includes Japanese black pines, fruit trees and wisteria arbors.
With the 2012 centennial approaching and the garden showing its age, the Huntington formed a team including several Japanese experts and craftsmen to pursue the renovation. Funding mainly came from bequests and foundation and individual support.
The teahouse, a finely crafted structure that features native woods, was donated by the Pasadena Buddhist Temple in 2010. It was returned to Japan for restoration and is being reassembled in San Marino under the guidance of Kyoto-based architect and craftsman Yoshiaki Nakamura, whose father–in what Folsom calls “an amazing small-world moment”–turned out to be the teahouse’s builder.

October 13, 2011 The Los Angeles Times- Karen Wada

The Los Angeles County Museum of Art’s Music Programs:
The Department of Music Programs, seven-time national winner of the ASCAP/Chamber Music America Award for Adventurous Programming, annually presents over one hundred concerts featuring leading international and local ensembles in programs of classical, jazz, Latin and new music. These include the long-running Sundays Live and Jazz at LACMA, along with the newer series Latin Sounds and Art & Music.

http://www.lacma.org/music

LACMA is located in central Los Angeles, midway between downtown and Santa Monica, 1/2 mile south of the Grove.
LACMA is open every day except Wednesdays, Thanksgiving, and Christmas.
Regular Hours:
Monday 12 noon–8 pm
Tuesday 12 noon–8 pm
Wednesday Closed
Thursday 12 noon–8 pm
Friday 12 noon–9 pm
Saturday 11 am–8 pm
Sunday 11 am–8 pm

Restaurants:
Ray’s & Stark Bar—NOW OPEN!

Patina Restaurant Group is delighted to announce the opening of Ray’s restaurant and Stark Bar at LACMA.

Designed by famed architect Renzo Piano, the new restaurant is named after Ray Stark, the late film producer and former LACMA Trustee.Executive chef Kris Morningstar presides over the kitchen. The Mediterranean-inspired menu includes a host of dishes from the wood-burning oven and wood grill. A separate menu is served in the adjoining Stark Bar, and both locales offer seasonal cocktails, a California-centric wine list, and artisan beers and spirits.

Ray’s is open for lunch from 12–3 pm and dinner from 5–10 pm every day except Wednesday.

Stark Bar is open 11 am–11 pm every day except Wednesday.

Pentimento—CLOSED FOR RENOVATIONS

Plaza Café
Café dining with indoor and outdoor seating. Wine and beer available.
——————————————————————————-
Tours:
The museum offers a wide variety of tours throughout the week that provide a great way for individuals, groups, and schools to explore exhibitions and the permanent collection. For details please visit our upcoming programs, calendar, and tours pages.

Self-guided tours are welcome, except in specially-ticketed exhibitions. Such tours must not conflict with previously scheduled LACMA tours (see calendar) or cause overcrowding in the galleries.

Keep your pets safe this Halloween… Information courtesy of the Pasadena Humane Society…

The witching hour is close at hand. Even though Halloween is a festive time for people, it can be a scary and dangerous time for your pets. The constant noise, unexpected screams, dangling decorations and everything else that goes bump-in-the-night can spook even the most well-adjusted animal. Here are some tips to ensure that this Halloween is filled with treats and no tricks:

Walk your dog before the trick-or-treaters start their visits in case your dog becomes frightened by people in costumes.

Keep your pet safe in the back room during peak trick-or-treating hours as the costumed visitors can frighten your animals.

Make sure your pet is microchipped and has updated ID tags on his or her collar. The continuous opening of the door can be a chance for escape.

Keep candy out of your pet’s reach. Candy with Xylitol, an artificial sweetener, can be harmful to pets. All forms of chocolate can be toxic to cats, dogs and ferrets. If your pet does ingest candy, please contact your veterinarian immediately.

Be mindful where you put your decorations. Candlelit jack-o-lanterns can be knocked over by a curious pet and become a fire hazard while dangling streamers may invite your pet’s unwanted interest and can be potentially harmful.

Make trick-or-treating a people only activity. Dogs may become difficult to handle during the noise and confusion of the festivities.

Be mindful of your pet’s costume. Make sure no dangling pieces are present as it can be a choking hazard for your pet. If your pet does not like its costume, then do not put one on him or her.

Black cats may be targeted by persons lured by Halloween myths, but all animals are vulnerable to malicious pranks. If you see anything suspicious or dangerous regarding animals, please call the Pasadena Humane Society at 626.792.7151, your local police or animal control department.

With that said, have a FANG-tastic, fa-BOO-lous and safe Happy Halloween!

Wire Your Home to Sell ~ Home buyers are ga-ga over gadgets…

A survey by the Consumer Electronics Association (CEA) says home security systems, home theater-wired systems, home automation management systems and energy management systems are hot selling points.

“There is a strong relationship between home technologies and the real estate market. While the market needs to recover before home technologies play a more important role in home sales, the industry can help prepare real estate agents to be comfortable in discussing these types of systems with their clients,” said CEA’s Rhonda Daniel. CEA said the vast majority of real estate agents have encountered homes with installed technologies.

In the past 24 months, nine in 10 real estate agents have been involved in buying, selling or showing a plugged-in home equipped with technology ranging from more established systems such as monitored security (93 percent) and home theater or home theater-wired systems (89 percent) to newer technologies like home automation and management systems (54 percent) and energy management systems (51 percent).

More than half of real estate agents said they are excited by these homes and believe their clients’ enthusiasm for technology mirrors their own. Nearly two-thirds of real estate agents said their clients are excited to see technologies in homes.
That’s no surprise. The soft economy is bringing more and more entertainment home as a cost-saving factor. That means current home owners looking to sell should consider upgrading their home with at least one home technology system.

The recent survey of 1,793 real estate agents, members of the National Association of Realtors, sought to understand real estate agents’ experiences with homes outfitted with installed technologies as well as their perception of the technology.
“The ideal goal for the consumer electronics industry is to have knowledgeable real estate agents who are excited and open to promoting technology as a selling feature of homes,” Daniel said.

Half of surveyed agents expressed interest in learning more about installed home technologies, according to the CEA.

“Manufacturers and electronic systems contractors (ESCs) should be laying the ground work now to take advantage of the eventual upswing in the real estate market. Educating real estate agents on the benefits, value and functionalities of installed technologies now will demonstrate that the consumer electronics industry can be a trusted partner to equip them with the knowledge they are lacking,” Daniel said.

Written by Broderick Perkins

Real estate gender gap ~ Men list more homes, women list pricier homes: Trulia analyzes list prices, and total listings among real estate agents registered at site.

On average, male real estate agents list more homes than women do, while the homes women list have higher asking prices, according to a study by real estate search and marketing site Trulia.
In its research, Trulia first separated the more than 100,000 real estate professionals with profiles on its site by gender, using a “Name Genderizer” tool to categorize whether the names are most likely male or female.
Then, in a one-day snapshot on Oct. 1, the site examined the total number of male agents compared to female agents, and which gender had listed more homes for sale and which listed more expensive homes, on average, since joining Trulia. The site did not control for when agents joined the site, “since there’s no systematic differences between when men and women create a Trulia profile,” Trulia said.
Female agents’ listings tended to be pricier, on average, than those of their male counterparts. The difference was biggest in West Virginia where female agents’ listings were 63 percent more expensive. Put another way, female agents’ average list price was about $100,000, compared with about $60,000 for male agents — a price difference of about $40,000.
In a blog post about the findings, Trulia said that “the average list price isn’t necessarily a reflection on how aggressive the agent is on pricing. In some cases, it could mean that women take on inherently more expensive homes/neighborhoods than men, and vice versa.”
Only in Alaska did homes listed by men have considerably higher asking prices, on average, than those listed by women. Although female agents registered at Trulia outnumber male agents by 53 percent in that state, the men exceeded the women in both the volume of listings and average asking price.
At the other end of the spectrum, female agents had an edge over their male counterparts when it came to listings volume and average asking price in Mississippi.
According to Trulia’s study, men listed more homes, on average, with the difference especially pronounced in the Dakotas. In North Dakota, men listed 129 percent more homes than women agents, on average, since joining the site.
Only in Wyoming, Nebraska, Mississippi and Louisiana did the cumulative listing volume for female agents exceed that of male agents by 20 percent or more.
Females outnumbered males in all 50 states with a range of about 48 percent more female than male agents in South Dakota and Nebraska to 64 percent more in Mississippi and Oklahoma. Overall, females tend to outnumber males in the industry — the National Association of Realtors’ 2011 Member Profile found that about 57 percent of Realtors, based on data sampled earlier this year.
For a further state-by-state breakdown, click HERE for an interactive map is available from Trulia.
by Inman News, Monday, October 17, 2011

Busters Ice Cream & Coffee Stop in South Pasadena will be celebrating their 25th anniversary today, Sunday October 23rd, 2011, from 12noon to 5pm with free popcorn, 25cent junior scoops of ice cream, 25cent drip coffee, live music, fun and memories!

THE COFFEE STOP BY THE TRACKS (right across from the Metro Gold Line Station).
1006 MISSION STREET, SOUTH PASADENA, CA 91030 ~ (626) 441-0744
www.busterscoffee.com

LIVE JAZZ ON SUNDAYS 5-6:30 pm
Hours: MON-WED 6:30am-7pm, THURS 6:30am-8pm, FRI 6:30am-9pm, SAT 7am-9pm, SUN 7am-8pm

PACIFIC ASIA MUSEUM CELEBRATES ITS 40TH ANNIVERSARY IN 2011!
Enjoy free admission to all the galleries including featured exhibition Auspicious Beauty: Korean Genre Paintings… PLUS fun crafts, dance performances, live music, martial arts, demonstrations, and hands-on activities as we celebrate Korean arts and culture!
Co-sponsored by the museum’s Korean Arts Council.
Sunday, October 23 … 12-4:00pm
46 North Los Robles Avenue, Pasadena, California 91101
(626) 449-2742

Fall Fest 2011 at the St. Philip the Apostle parish school.
Come out on Saturday, October 22, 2011, from 2:00 to 10:00 PM for food, fun, and festivitities!
1363 Cordova Street (b/t East Green Street and East Del Mar Boulevard) in Pasadena, CA (91106) – Across from Pasadena City College, just South-West of where East Colorado Boulevard and South Hill Avenue intersect.

Old Pasadena Halloween Celebration 2011 ~ Come Join in for a Frightfully Good Time with Activities throughout Old Pasadena!

This Halloween don’t miss all the wonderful goings-on in Old Pasadena. Come early to shop for your costume, buy treats and decorations, visit the Old Town Haunt, and take advantage of merchant coupons and promotions. Then come back on Halloween afternoon with your family for Trick-or-Treating and more spooky fun.

Old Town Haunt
Now until Monday, October 31, 2011
Now in it’s seventh year, Old Pasadena’s award winning, scariest haunted house is back! Kid’s Matinees (recommended 7-12 years) are scheduled on Saturday, October 29th and Sunday, October 30th from 12:00-4:00pm. Click HERE for more info.
Halloween Pumpkin Decorating
Saturday, October 22, 12:00 to 3:00pm
Free Halloween Pumpkin Decorating in the One Colorado Courtyard, 41 Hugus Alley. Decorate and take home your own Halloween Jack-o-Lantern. Pumpkins are provided.

Old Pasadena Halloween Celebration
Monday, October 31, 4:00 to 9:00pm
■Free store-to-store trick-or-treating
■Free haunted photos at the One Colorado Courtyard
■Free outdoor movie screenings of Monsters Inc. (6:00pm) and Tim Burton’s The Corpse Bride at the One Colorado Courtyard
■Old Town Haunt open from 7:00-12:00pm midnight ($17 per person)
■Meet and greet with favorite Halloween characters

One Colorado is one city block bounded by Fair Oaks, Colorado Boulevard, DeLacey and Union Street in Old Pasadena.

Call (626) 356-9725 for more details.

6th Annual Steve Dyer Memorial Golf Tournament
Location: Arroyo Seco 3-Par Golf Course
Date: Saturday, October 22nd, 2011
Time: 9:30am ARRIVE EARLY! (Only 9 holes will be played)

Proceeds to benefit Grandview Foundation in Altadena, CA
$25 per person, includes lunch and golf.
$10 for lunch only.
50 / 50 Raffle with lifelong raffle prizes!

Hosted by Friends of Big Steve
A great SOBER day ~ Let’s rememeber Big Steve!

THE BEST OF L.A. STREET FOOD!
Din-Din A Go-Go is a gathering of some of the best local gourmet food trucks, each week, every Tuesday from 5:30 PM to 9:30 PM.
The trucks are stationed in the parking lot on the corner of Avenue 63 and Garvanza, just east of Figueroa Produce Market.

Participants include:

Ahn Joo LA

Lomo Arigato

Grill ‘Em All Truck

Don Chow Tacos

Great Balls on Tires

Royko Gourmet Ramen

Mambo Juice truck

The Sweets Truck

Seller Advice: Stay Calm During Negotiations

After much soul-searching and working the numbers, you decided to put your home on the market. You may be selling to change cities for a job or are needing to downsize. Regardless of the reason, this is a big and important decision!

The time has come, though. You have received an offer on your home. How can you make it through? This can be a very trying time. How do you know which offer to take or what counteroffer to make?

Here are 10 tips to help you stay calm during negotiations:

• Trust your Agent: You hired your agent for a reason. He has experience handling negotiations and contracts. Feel free to ask him any questions you have, but don’t let the pressure of every minute detail overwhelm you.
• Eat and Sleep: Our body needs to refuel in two ways: food and rest. Be sure to get plenty of both so that your brain is well-prepared for any big decisions you may need to make. Pack a bag lunch or some snacks if you think you may be too busy to stop for lunch or dinner on the way to your agent’s office.
• Have Downtime: Getting your mind off of a stressful situation means you can come back later refreshed and ready for a challenge.
• Open Communication: Express real concerns to your spouse, significant other, or business partner. You never really know what someone else is thinking unless you talk openly.
• Exercise: This is a great way to clear your mind and to gear your body up for the stress of selling. Walks, runs, and even a trip to the gym can be extremely beneficial.
• Meditate: Take a moment and find a quiet space. Sit quietly with your eyes closed and focus on your breath coming in and going out of your body. Be still and be in the present moment. As thoughts and worries come in your mind, acknowledge that they came and then pull your focus back to your breathing. Even a few minutes can do wonders at centering the mind.
• Run the Numbers: Seeing the facts in black and white can help take emotion out of this business decision. Should you accept this offer? Is it too low? Do the math and know for sure.
• Practice Patience: Buyers may take their time to consider your counter-offers. Be patient and know that an answer will eventually come.
• Leave Impulse at the Door: This is not a time to make rash decisions. You want to be sure that this is the right deal and the right time.
• Enjoy the Process: Yes, it’s a stressful time, but it can also be the doorway to your new life. Embrace it and stay positive.

It was a big day when you decided to list your home for sale and it will be a even bigger day when you close with a seller. Take care of your body, relax your mind, and trust in your team of professionals and you’re sure to make it through this stressful time.

Written by Carla Hill

Pasadena Heritage’s Craftsman Weekend – 20th anniversary
Tickets on sale now – Scroll down for further event details.
The Craftsman Weekend’s offerings will include a tour of significant Craftsman-era houses, a variety of bus and walking tours, and exclusive evening receptions at historic sites. This year will also see the continuation of an expanded Craftsman Exposition Show & Sale, a major exposition of furniture and decorative arts at the Pasadena Convention Center, as well as the return of special lectures presented by experts of the Craftsman movement.
The 2011 Craftsman Weekend activities include:
WEEKEND-AT-A-GLANCE
Thursday, October 13
Old Pasadena Luncheon and Walking Tour-Sold out.
Friday, October 14
Exclusive Art Tour and Brunch
South Pasadena House Tour
Woodworker’s Dream Drive-Yourself Tour
Governor Markham Landmark District Walking Tour
Greene & Greene Bus Tour
Opening Reception at the Pitcairn House
Saturday, October 15
Craftsman Exposition Show & Sale,
Silent Auction, Presentations and Demonstrations
Your Bungalow Inside and Out Workshop
California Light: A Century of Landscapes Lecture
Intelligently Rebuilding Lecture
Developing a California Architecture Lecture
Craftsman Kitchens Bus Tour
Great Architects Bus Tour
Prospect Park Walking Tour
Reception at the Manor Del Mar
Sunday, October 16
Craftsman House Tour
Craftsman Exposition Show & Sale,
Silent Auction, Presentations
The Craftsman Movement (also known as the American Arts & Crafts Movement) emerged in the early 20th Century in the U.S. as an outgrowth of the English Arts & Crafts Movement. Its hallmark is a philosophy of honest, simple design expressed in hand-made creations by skilled craftsmen. While the Movement flowered throughout the U.S., Pasadena became a particularly strong center for Craftsman design including architecture, art, and ceramics. International recognition of Craftsman-era expression in Pasadena has been accorded to the work of architects Charles and Henry Greene, tile maker Ernest Batchelder, artists Elmer and Marion Wachtel, and writer/photographer Helen Lukens Gaut, among others.
Pasadena Heritage began the Craftsman Weekend in 1991 to provide a West Coast focus for interest in the Craftsman Movement and to highlight the unique and unparalleled Craftsman architecture and other resources available in Pasadena. Since its inception, it has grown to become one of two nationally prominent gatherings for those devoted to the Arts & Crafts Movement in the U.S.

TASTE OF SOUTH LAKE 2011 ~ The Art of Food!
SATURDAY, OCTOBER 15th … 11:00am – 4:00pm — 251 S. Lake Avenue, Pasadena, CA
At the “Taste of South Lake”, guests can enjoy mouth-watering offerings from the restaurants of South Lake Avenue, prizes, a special live cooking demo, a beer and wine garden, showcases from other South Lake Avenue businesses and live music performances by Dustbowl Revival, Jessica Fichot and Orgone.
This FREE outdoor festival will be held at the Corporate Center Pasadena located at 251 S. Lake Avenue, Pasadena and offers:
o RAFFLE PRIZES
o LIVE MUSIC
o BEER & WINE GARDEN
o FREE ADMISSION
SPECIAL LIVE MUSIC PERFORMANCES BY:
o 12:00pm DUSTBOWL REVIVAL – A rowdy Venice-based roots collective that skillfully mixes New Orleans swing, mountain bluegrass and jug-blues into a lethal Americana cocktail.
o 1:00pm JESSICA FICHOT – A delicious blend of French chanson, gypsy jazz and international folk – which she performs armed with her accordion, toy piano and multilingual vocals, and backed by her fiery band. “Delightful.” – L.A. Weekly
o 2:00pm ORGONE – With a rooted sense of funk, soul, afro-beat, deep rhythms and an intimate understanding of dj culture as well as each others’ individual talents, Orgone seamlessly slides through multiple styles and dynamic performances.
o 2:00pm – 3:00pm – Live cooking demo at Williams-Sonoma – Chef Claud Beltran of Noir Food & Wine.
This year’s Taste of South Lake will be held in conjunction with Pasadena’s Art Weekend held on October 14, 15, & 16. For more information regarding Art Weekend, please visit Pasadena Art Weekend.

A fun-filled day of activities that the entire family will enjoy, including arts and crafts, face painting, food and music.

October 15, 2011 Saturday

12-2pm

FREE Admission

USC Fisher Museum of Art

RSVP at 213- 740-4561 or fmoa@usc.edu

The USC Fisher Museum is located at:

823 Exposition Boulevard

Los Angeles, CA 90089

‘Want to Know What Sells a House In Today’s Market?

In today’s market many sellers want to know the secret to selling their homes quickly. They want to know ways to hold on to the equity they’ve build over the past decade.

Unfortunately, there is no golden equation that equals the perfect sale. Yet, while there is no “sure thing” in the housing market these days, there are certain factors that affect how quickly and for how much your home sells.

Here are the top ten. Consider how these apply to your own home, how that affects marketing, as well as what aspects of your home you should “play up” to elicit a better response from buyers.

1. Price: It’s a common misconception that location is the leading factor of whether or not a home sells. It is, instead, price. Think about this scenario. You have a home located in a prestigious and sought-after neighborhood, yet the list price is tens of thousands of dollars over the comps for the area. No one will be interested. This same property priced just below the competition will fly off the market.

2. Location: Okay, location is still important. A home that sits next to a refinery, crime-ridden neighborhood, or busy street is less desirable than one that backs up to green space. If your home has a boastable location, then by all means boast about it in your marketing.

3. Liveability: This is fast becoming a hot button word in real estate. Buyers today are looking for neighborhoods that deliver amenities such as golf parks, restaurants and theaters. They want good schools, walkable neighborhoods, and plenty of things to keep them entertained.

4. Condition: There is a certain segment of the market that is made up of renovators, flippers, and investors. You won’t find as many people these days eager to buy your run-down property that is in a good location. They simply can’t sell the property fast enough before monthly mortgage payments begin eating up their profit. Homes that are well-maintained or in move-in ready condition appeal to a broader range of buyers. Even simple fixes, such as new paint, cleaned carpets, or power-washed decks, can have an effect.

5. Competitive Advantage: Don’t make the mistake of assuming that you’re in this race alone. Past area sales, as well as current listings and foreclosures, are your direct competition. You must take these into consideration when settling on a list price for your home. What amenities and upgrades do these homes have? Do the homes in your neighborhood all have updated baths, kitchens, or landscaped yards? In order to price in line with them you must be able to boast these same things.

6. Curb Appeal: Curb appeal is the first impression of the home world. You must keep the yard orderly and maintained when your home is on the market.

7. Staging: Once inside your home, a buyer must be wowed. Intoxicate their senses. They want to see up-to-date furnishings, smell a clean home, touch cabinets that are in good repair, hear peace and quiet, and of course “taste the good life.”

8. Kitchens: A kitchen sells a house. It is where families gather and connect. Minor kitchen remodels rank high among the list of top remodeling projects, with owners updating cabinets, counters, and floors. Nobody wants an outdated kitchen. What fixes are in your budget? If your kitchen is already spectacular, be sure you play this up in any marketing.

9. Agents: An accomplished, knowledgeable agent can be your biggest ally during the selling process. They know the latest market trends and have built a network of agents and contacts to whom to market your home. With an arsenal of marketing tools available to agents today, from video tours and webcasts to brochures, websites, and MLS listings, they are part of your selling team

10. Marketing: Marketing has gone global. With the power of the Internet, you can showcase your home to millions of potential buyers. Sit down with your agent and develop a solid marketing plan. This is why you are paying them a commission. Make them earn it!

The market is not what it once was. You must be realistic about what selling in today’s market means. You value your home, but it may not be “worth” as much today as it was yesterday, last month, or last year. Consider these top ten ways a home sells and help your home put its best face forward.

Written by Carla Hill

Why Own My Home?

A soft real estate market that is ripe with all the conditions that should entice people to purchase a home still has some renters asking, “Why own my own home?”

Low interest rates, lower home prices and an improving job market still have some buyers sitting on the fencsellers e fearful of an uncertain real estate market. Real estate agents and even are finding that prospective buyers (current renters) may need a little more “emotional” attention in these market conditions. They may need a little more explanation to ensure that they understand the benefits of purchasing your home rather than renting another.

While deciding to own a home or rent one is very personal, many tend to let fear of the unknown be the driving force in making their decision and that can later create an unhappy decision.

Here are five top reasons to at least consider owning your own home.

No more landlords: This may be a highly influential factor depending on a potential buyer’s experiences. Many renters have poured a ton of money into a home that they’re living in to keep it at the standard of living they enjoy, only to find that their landlord is soon planning to sell the home. Their hard-earned cash and money invested into their rented home will then only benefit the seller.

Making a home your style: This is much more difficult to do in a rental. Yes, as I just mentioned, you can make some modifications, but many things that can be done to a home you own can’t be done to one you’re renting. Taking into consideration Homeowner’s Associations or planned community development restrictions, owning still provides more control and flexibility over renting.

Weighing the costs of homeownership: Of course, with homeownership you won’t be calling the landlord to come fix your toilet or dishwasher. So, having a financial reserve is important to carry you through the months when you run into unexpected troubles. Websites such as GinnieMae.gov offer price charts that help you compare how much you’ll save by buying or renting. It’s a helpful tool that allows you to analyze factors such as how much tax savings you’re likely to receive, how much possibly equity you’ll gain, and how much your rent may increase.

Long-term plans tilt the scale toward owning: In a recent Tampa Bay article, Walter Molony of the National Association of Realtors said, “For people with long-term plans, the rent vs. buy equation is tilting heavily toward buying because housing affordability is at record highs dating back to 1970,” he explains. “Homes are undervalued in many areas—selling for less than the cost of replacement construction—and rents are rising at a faster pace. Many people are considering ownership now as a hedge against inflation.”

Low interest rates and affordable homes will not last forever: If you’re not ready to buy or simply can’t afford to own a home, even the historically low interest rates and exceedingly affordable home prices might not move you to take the leap into homeownership. However, understanding that these conditions won’t last forever is important. Sometimes when conditions persist, we tend to think they’ll always be this way.

Distressed sales will begin falling in 2013 and that would then cause home prices to creep upward, predicts Moody’s Analytics. With little activity on the homebuilding front, and still a heavy supply, it’s not expected to increase much more. Also, the number of new households each year is rising, which is expected to help alleviate the oversupply in the coming years.

Written by Phoebe Chongchua