825 N Kings Rd, West Hollywood - Biggest Loser's Bob Harper: West Hollywood Condo For Sale Bob Harper, the celebrity fitness specialist on NBC's Reality Show "The Biggest Loser", is moving on. Bob is selling his current West Hollywood loft which the Listing Broker (Keller Williams) describes as an "unbelievable opportunity to own the BEST unit for sale in West Hollywood, in the award winning Habitat 825 by acclaimed architect, Lorcan O’Herlihy." The almost 1500 sq ft condo is a top floor split level floor unit with walls of glass, custom walnut flooring, a customized dual sided fireplace and features a Boffi kitchen. Listed at $1,249,000 the price relates to over $830 a sq ft, which in the current market seems optimistically priced. However, 825 N Kings Rd is a particularly well locate... 08/17/2009

Credit Card Companies are hammering away at their customers ahead of the implementation of The Credit Card Act of 2009. In February 2010 the provisions of the Act are intended to ensure a more equitable and fair treatment of consumers. In the interim however, credit card companies are hammering away at consumers, lowering credit limits, increasing interest rates and now increasing the minimum monthly payments on accounts. According to CNNMoney.com, "for the second time this year Chase Bank has changed up the rules for how it calculates the minimum payment due for certain customers, increasing the rate from  2% of the outstanding balance to 5%.  If you’re carrying a $5,000 balance that means your required minimum payment went from $100 in July to $250 this month." This is clearly an "unf... 08/17/2009

Going Green in Los Angeles - Waterless Grass "LALA Land" (aka Los Angeles) is famous for creating "make-believe" -  but I'm not talking about movie studios and their life-like sets. I'm talking about garden lawn - The artificial kind. While showing a property in an area adjacent to Beverly Hills, the prospective Buyers commented about how wonderful the grass was growing despite being in shaded areas. Upon closer inspection we realized the grass wasn't grass at all, but rather a grass-like carpet that had been installed throughout the yard. I've noticed this "waterless grass" is becoming a popular trend in many areas and this "grass-like carpet" is being used on many sidewalks and other public areas. It looks real, wears well, and doesn't require constant watering or mowing. Are you see... 08/15/2009

    Les Baux de Palm Springs - Suzanne Somers Palm Springs Estate gets Huge Price Reduction - Over 60% Off Original List Price Suzanne Somers and husband Alan Hamel have reduced the price on their 65 acre hideaway in the San Jacinto mountains of Palm Springs from a whopping $35 Million to $12.9 Million - representing a 63% discount to the original asking price. Th estate features a renovated main house, guest houses, amphitheater and pool. In total there are 10-Bedrooms and 11-Bathrooms spread over several buildings. One can't help wondering how the original $35 Million Price Tag was determined ....!!    Listed by Scott Lyle Realtors. 08/12/2009

Beverly Hills Condos For Sale - One-Bed Condos - Market Report on 8/10/09 Number of One-Bed Condos For Sale: 9 Lowest Priced One-Bed Condo: $450,000 Highest Priced One-Bed Condo: $995,000 Smallest One-Bed Condo Available: 602 sq ft Biggest One-Bed Condo Available:  1224 sq ft Oldest Listing: 178 days (Listed at $995,000 with no price change) For current listings of all Condos For Sale in Beverly Hills and surrounding areas, please call me: Stewart Penn - Penn Properties - (310) 844-6515 Information obtained from the CLAW MLS and deemed reliable but not guaranteed 08/09/2009

Beverly Hills Condos For Sale - 2-Bed Condos - Market Report on 8/10/09 Number of Two-Bed Condos For Sale: 45 Lowest Priced Two-Bed Condo: $499,000 (Short Sale subject to lender approval) Highest Priced Two-Bed Condo: $2,345,000 Smallest Two-Bed Condo Available:  1041 sq ft Biggest Two-Bed Condo Available:  2850 sq ft Oldest Listing: 419 days (Listed at $945,000 and reduced to $695,000 as a Short Sale) For current listings of all Condos For Sale in Beverly Hills and surrounding areas, please do not hesitate to call me: Stewart Penn - Penn Properties - (310) 844-6515 Information obtained from the CLAW MLS and deemed reliable but not guaranteed 08/09/2009

     Malibu Condos For Sale - Sky-high prices for Ocean Views On August 8, 2009 there were a total of 80 condos For Sale. The highest priced listing was a 2-Bed 2-Bath condo measuring 1200 sq ft with a List Price of $3,000,000 ($2500 a sq ft). Also available in the same 42-unit complex (The Malibu Outrigger on Carbon Beach) is a 900 sq ft 1-Bed 1-Bath condo listed for $1,925,000 ($2138 per sq ft). It's interesting to note that in 2008 a total 27 of condos sold in Malibu with prices ranging from $440,000 for a 2-Bed unit on Kanan Dume Road to $5,325,000 ($2000 per sq ft) for a 2650 sq ft 3-Bed 2.5-Bath condo set in an exclusive 4-unit complex on Malibu Road. 08/09/2009

"A certain Oscar nominee" - Roger Ebert, Chicago Sun-Times "Hollywood could hardly have contrived a more dynamic scenario"
 - David Edelstein, NPR "The Cove... puts Hollywood capers like Mission:Impossible to shame
" - Mary Pols, Time Magazine "A powerful and effective piece of advocacy filmmaking"
 - Kenneth Turan, Los Angeles Times "The Cove is advocacy filmmaking at its best" - Jim Slotek, Sun Media "It's quite simply one of the year's best movies" - Peter Howell, Toronto Star "'The Cove' is a jaw-dropping experience. Not only does it have an incredible and terrifying story to tell but it also presents its message in such a way that it rivals a multi-million dollar Hollywood production in its use of high-tech equipment.
 Five out of Five Stars
" - Ryan Michael Painter, InThisWeek 08/09/2009

"The Cove" - A Shocking Documentary/Expose about the atrocious goings on in a secluded lagoon in the Japanese town of Taiji, the world's largest supplier of dolphins. Beginning in September each year and lasting for several months, thousands of dolphins are brutally and savagely slaughtered and the dolphin meat is sold to provide income for the local town-folk of approximate 3500 people. Led by Richard O'Barry, the most famous dolphin trainer in the world (who trained 5 dolphins for the 1960's TV series "Flipper"), a small group of activists (members of the Oceanic Preservation Society) set out to infiltrate the security at the cove to document the horrific events that happen there. The Cove was secretly filmed with high-tech video and sound equipment and was funded by billionaire Jame... 08/09/2009

I've never seen this before .... but I think it's a great idea! Photographed using my iPhone - Copyright © 2009 Penn Properties.  All Rights Reserved. 08/08/2009

With the Real Estate Market still reeling from the widespread effects of the recession, even mega-priced properties are continuing to get huge price reductions in Los Angeles. This week while reviewing properties on the MLS I noticed that two high priced properties on (in a particularly prestigious part of the Hollywood Hills) had significant price reductions. Both properties are on Oriole Drive in the 90069 Zip Code of Los Angeles. The one property which was listed over 300 days ago has been reduced from $29 Million to $21.9 Million. That's a 24% price reduction. The other property was originally listed at $20 Million and after 145 days has been reduced to $14 Million. That's a 30% price reduction. It seems like Hugh Hefner recently made a good decision to accept a 36% discount on the ... 08/08/2009

Stricter Credit Card underwriting standards might be good for consumers in the long run - The Credit Card Act of 2009 For years credit card companies have been soliciting new clients by mailing out attractive credit card offers with teaser rates and deceptively complicated terms and conditions. On May 22, 2009 President Obama signed The Credit Card Accountability, Responsibility, and Disclosure (Card) Act of 2009. The Credit Card Act of 2009 signifies a major turning point for American consumers. The Act, which is effective from February 2010 will end the days of unfair interest rate hikes and hidden fees that consumers have been subject to by the major credit card companies. Most credit card companies are taking advantage of the "window" between now and February 2010 and are quickly ad... 08/08/2009

The Huffington Post featured an interesting tongue-in-cheek article about "The Top Ten Unconventional Indicators of The Recession." The article refers to a number of methods used to measure how the recession has impacted economic activity across the country: "The Underwear Index"; "The Necktie Index"; "The Lipstick Index"; "The Hot Waitress Index"; "The Movie-Going Index" and more. Interesting examples are the worse the economy, the hotter the waitresses; As the economy worsens, movie ticket sales increase; and my personal favorite is Alan Greenspan's take on mens underwear sales, namely that if the economy is in bad health, sales of mens underwear drops. Check it out .... it actually makes sense! 08/06/2009

The Securities and Exchange Commission (SEC) is raking in big fines from large public companies ... but are they helping the average investor? "General Electric (GE) pays $50 Million to settle fraud suite" - It is alleged that in 2002 and 2003 GE approved financial result reporting that was not in compliance with Generally Accepted Accounting Principles (GAAP). "Bank of America (BAC) pays $33 Million over Merrill bonuses" - The SEC charged Bank of America with failing to alert shareholders about bonus payments to Merrill Lynch Executives following its purchase of the brokerage giant". The SEC bills itself as "The Investor's Advocate", but if they're only reactive instead of proactive in their investigations and actions, how does this really help the average investor? Only after the prov... 08/04/2009

West Hollywood Condos Market Report for July 2009 (June / May) Average Selling Price: $542,000 ($572,000/$545,000) Average List Price: $520,000 ($607,000/$579,000) Median Price: N/A ($560,000/$502,000) Total Sold in Dollars: $17,900,000 ($15,444,000/$14,170,000) Number of Units Sold:  32 (27/26) Lowest Price Condo Sold: $260,000 ($274,500/$265,000) Highest Price Condo Sold: $1,150,000 ($1,485,000/$900,0000) Average Days on the Market: N/A (100/124) (Statistics extracted from The CLAW MLS and rounded off for ease of comparison. Statistics are deemed reliable but are not guaranteed) 08/03/2009

Originally listed at $27,995,000, this Bel Air - Holmby Hills property adjacent to Hugh Hefner's Playboy Mansion has sold for $18 Million. After being on the market for 126 days the Seller accepted 65% of what he was originally hoping to achieve. And who was the famous Seller of this high-priced mansion ....? None other than Hugh Hefner and his ex-wife Kimberly. Described as "an exquisite 2 Acre Country English Manor" by Listing Broker Coldwell Banker, the 5 Bed 7 Bath mansion measures over 7300 sq ft and is set on a 100 000 sq ft. The Buyers were represented by the brokerage of Hilton Hyland (Paris Hilton's father is one of the principles of this firm). I can't imagine there were too many buyers for this property, so it shows that a genuine seller will always be negotiable, regardless... 08/03/2009

West Hollywood Open Houses Call Penn Properties 310.844.6515 for the most current information of upcoming Open Houses in West Hollywood. Open Houses are held on Sundays from 2-5pm in the Summer months and from 1-4pm in the Winter months (based on daylight savings time). Brokers Caravans are held on Tuesday from 11-2pm. For an updated list of all Open Houses in West Hollywood call Stewart Penn at Penn Properties 310.844.6515 or email stewart@pennpropertiesla.com 08/02/2009

1248 N Laurel Ave - "The Milano" - 16 Luxurious new condominium residences. Ideally located on a quiet residential street between Santa Monica and Sunset Blvds, "the Milano" features a collection 2 and 3 Bedroom condos with generously proportioned rooms and designer finishes including dark bamboo floors. Most units have multiple balconies/patios. The penthouse units offer great views of Downtown Los Angeles, the Hollywood Hills and Century City. Originally much higher priced at over $600 per sq ft, these units have been realistically discounted to between $400 and $500 per sq ft .... which means the development will now sell out!  HOA dues are relatively low at $363 per month. Platinum Realtors are the exclusive Listing Agents.     08/02/2009

855 Croft - Still under construction is 855 Croft Avenue, a new 33 unit condo development situated between Melrose Avenue and Santa Monica Blvd in the West Hollywood vicinity. The official website states that all units will feature double master suites & flowing floor plans. Of particular interest is the rare use of landscaping at the top of the building which will provide green space and beauty to the neighborhood. The project was designed by the award winning firm SPF Architects and the Developer is Larian Developments. At this time there are no details regarding pricing or Listing Agents. 08/02/2009

928 Croft Avenue is one of the newer condo developments to come to the market in the West Hollywood vicinity. The project is very well situated between Melrose Ave and Santa Monica Blvd and offers a combination of one, two and three bedroom homes with two additional rear duplex villas with private patios. All units feature custom Italian "green" kitchen cabinets by Bontempi, Bosch appliances and Caesarstone countertops. The bathrooms also feature Bontempi cabinets and have deep soaking tubs from Zuma. All units have Walnut floors throughout the living spaces and Berber carpets in bedrooms. Prices in the 12-unit building range from $695,000 to $1,475,000 and unit sizes vary from 1100 - 2400 sq ft. These units appear well priced in the current market environment at between $500 - $600 pe... 08/02/2009