I don't particularly like Glenn Beck but this video provides a clear summary of the abuse of power by Hank Paulsen (George Bush's Treasury Secretary) and the despicable corruption of Goldman Sach. ..... WHERE IS THE PUBLIC OUTRAGE? 07/20/2009

       Today I discovered a great application on my iPhone called Autostitch. Autostitch is a program that combines several digital photographs on your iphone and using image recognition technology create wide-angle photographs. This "Stitching Technology" is truly mind-blowing to me since it requires no manual alignment or extra work by the user .... the program is totally automatic. The user can then crop the final "stitched" image to create a "blended" picture with no visible seams or breaks. I tried this using my iphone at my open house today and was was totally impressed with the results. This program is also available for Desktop and Laptop computers with more options and sophisticated variables (the more advanced application is available for purchase). Please remember I was a ki... 07/19/2009

Goldman Sachs bites Uncle Sam's hand - New York (Fortune) Since the impact of the global financial crisis quickly rippled through many of the bluest of "blue-chip" financial instituions I've been amazed at the way Goldman Sachs has conducted itself .... how this financial institution has exploited the American Financial System, treated American Taxpayers with utter contempt, and now, prepares to stuff its employees pockets with outrageous bonuses while thumbing its nose at the very people that helped keep them afloat. Although apparently legal, Goldman Sachs' conduct is scandalous, immoral and shows a lack of any kind of integrity whatsoever. I'm all for everyone making a profit if they work hard and deliver real service and good results. That's what Capitalism is all about. But when a ... 07/19/2009

Want a chuckle today? - Watch this! ....A Tribute to the FCC (Federal Communications Commission) - Enjoy! 07/18/2009

2 Bed Condos For Sale in West Hollywood as at 7/17/09: Number of Two-Bed Condos For Sale: 149 (109 as at 7/1/2009) Lowest Priced Two-Bed Condo: $394,000 (1093 sq ft) HOA $425 per month Highest Priced Two-Bed Condo: $5,750,000 (2355 sq ft) HOA $2300 per month Smallest Two-Bed Condo Available:  870 sq ft Biggest Two-Bed Condo Available:  2660 sq ft Oldest Listing:   549 days - Listed Since 1/17/2008  For current listings of all 2 Bed Condos For Sale in West Hollywood, please don't hesitate to call me: Stewart Penn - Penn Properties - (310) 844-6515 Information obtained from the CLAW MLS and deemed reliable but not guaranteed. 07/17/2009

Did you know our government is sitting on a huge profit on  Goldman Sachs Warrants? (Read the article on CNNMoney.com) Part of the deal whereby Goldman Sachs received $10 Billion of American Taxpayer money in the financial bailout last year was the issuance of 12.2 million warrants from Goldman Sachs worth $72.33 each (valued at $882 Million). These warrants give the government the right (but not the obligation) to purchase 12.2 million shares in Goldman Sachs at $122.90 each. Today Goldman Sachs shares closed at $156.84 .... giving the holder (our government) a paper profit of $33.94 per share .... resulting in a profit of $414,068,000 (yes, that's four Hundred and fourteen million and sixty eight thousand dollars) on the warrants. Since these warrants have over nine months left to go ... 07/17/2009

There have been numerous posts about "The Power of Blogging" which discussed improved search engine rankings, enhanced internet presence and excellent networking opportunities. What few people realize is the Power of Blogging to ensure accountability and good customer service. Over the last year I blogged on many Real Estate topics and also blogged about movies, restaurants and "off-the-wall" ideas. In addition I blogged about various vendors (both good and bad). Earlier this year I complimented the professional vendors that I'm fortunate to work with and as a result, a new client called me from that blog. I've warned fellow ActiveRainers about my bad experience and false promises by a property management company as well as a disastrous experience with an internet yellow pages director... 07/17/2009

I'm extremely proud of the Professional Network that I've established for my Independent Real Estate Brokerage. I believe that each service provider I use in my business is an extension of me and how I operate. Their service reflects back on me. When they provide excellent service my clients see this as an extension of my excellent service. I'm proud to know that the Escrow Company I prefer - Escrow of the West (Gail Hershowitz), and the Title Company I choose - Provident Title (Nancy Orrego), are as diligent and professional as I am. I frequently refer prospective buyers to Wells Fargo Mortgage Services (Joshua Oleesky) because I'm confident he'll provide the most sensible loans when assisting my clients with their mortgage needs. I also appreciate the fact that he provides the requir... 07/17/2009

My recent blog about "Smoking on Balconies" received many interesting comments with a variety of views and opinions. I like that kind of debate. It's healthy and thought provoking. But today's article on The Huffington Post about Bank of America and Visa charging a man $23 Quadrillion and a $15 overdraft fee for a pack of cigarettes cannot be debated .... The charges were ridiculously excessive ... even if you hate smoking and aren't that partial to smokers! :) MANCHESTER, N.H. — A New Hampshire man says he swiped his debit card at a gas station to buy a pack of cigarettes and was charged over 23 quadrillion dollars. Josh Muszynski (Moo-SIN'-ski) checked his account online a few hours later and saw the 17-digit number – a stunning $23,148,855,308,184,500 (twenty-three quadrillion, one h... 07/15/2009

WEST HOLLYWOOD SINGLE FAMILY HOMES REPORT: June 2009 (May 2009) Average Selling Price: $973,000 ($762,000)  ↑ Average List Price: $1,012,000 ($795,000)  ↑ Median Price: $915,000 ($760,000) ↑ Total Sold in Dollars: $7,787,000 ($5,333,000) ↑ Number of Properties Sold: 8 (7) ↑ Lowest Price House Sold: $700,000 ($450,000)  ↑ Highest Price House Sold: $1,350,000 ($1.015,000) ↑ Average Days on the Market: 103 (71)  (Statistics extracted from The CLAW MLS and rounded off for ease of comparison. Statistics are deemed reliable but are not guaranteed) 07/15/2009

California doesn't like smokers. The state was the first to ban smoking on trains, planes, buses, public buildings, workplaces, restaurants and bars. Last year, California prohibited smoking in a car when a child is present and now California is reconsidering banning smoking on state beaches and in state parks. With that thought, I move on to the subject of this post ..... The condo building I live in features large balconies off most of the units. The CC&R's (Covenants, Conditions and Restrictions) allow for barbecues provided certain safety requirements are met. However the CC&R's and R&R's (Rules & Regulations) specifically state that "Smoking is not permitted in any common area. This includes elevators, hallways, lobbies, garages, driveways and recreational areas. Smoking is however... 07/15/2009

The Good news and the Bad news ..... The popular Pavilions market at 8969 Santa Monica Blvd in West Hollywood closed in September 2008. The Good News: The entire store was demolished and and a completely new structure was built in its place. The new building is almost complete and the fresh new store is set to open its doors on July 23, 2009. The Bad News: The building is aesthetically unappealing & boring and the design is dated with its glossy marble tile trim. The store is prominently located on Santa Monica Blvd at the cnr. of Robertson Blvd (close to The Abbey and several other popular clubs and bars). VON'S (a Safeway Company) is the Owner/Developer of the project. 07/13/2009

If you've noticed a trend in my Hot Prop selections as of late, they have all been these higher priced new construction condo developments. The reason for this is that lately there has been very little inventory for under $600,000 that I think is well done and priced correctly - especially 2br/2ba. Well, the wait is over! This literally hit the market for the first time last Tuesday and there is already a ton of activity swirling around it. Located between Santa Monica Blvd and Sunset on West Knoll, this is the best deal I have seen on a 2br/2ba  in a very long time. The unit is done to perfection with dark hardwood floors, beautiful lighting fixtures, stunning bathrooms, and is located on the pool for weekend get togethers/bbqs. The location itself is worththe price of admission (in th... 07/13/2009

The California Legislature is proposing that those making payments to Independent Contractors (and this includes Realtors) withhold 3% to help close the budget gap facing the financially troubled State. Independent Contractors are being singled out to carry the burden of the State's financial difficulties. This is simply outrageous and must not be allowed to pass. I was encouraged to see that C.A.R. (The California Association of Realtors) is actively opposing this move and recommending that all members contact their Democratic legislators to voice their opposition to this proposal. In effect, Independent Contractors would be making loans of 3% of their earnings to the State and would only be refunded after filing their taxes in the next tax year. In view of California's current financi... 07/13/2009

This week I received an email from Wells Fargo Bank titled: "How the New Government Regulations May Impact Your Closing Dates". "On July 30, 2009, the new Housing and Economic Recovery Act (HERA) laws will go into effect. They require all mortgage lenders and mortgage brokers to help prevent deceptive lending practices and protect customers by helping them become more informed". Four of the most significant factors that can dictate a closing date can be summarized as follows: 1.  "All parties need to take into account that the earliest any home purchase transaction can close is 7 business days after the home-buyer is issued his or her initial mortgage disclosures from the lender." Effectively we as Realtors need to confirm that the Buyer has received the initial mortgage disclosure fro... 07/12/2009

The Smart Car - The result of a joint venture by German Car Manufacturer Daimler-Benz and Swiss watchmaker Swatch. The idea was rejected by General Motors and Volkswagen in 1993 on the grounds that it would be unprofitable. However, Daimler-Benz liked the idea and decided to proceed with the project in 1994. This was not a smart idea .... Smart GmbH lost nearly 4 billion euros from 2003 to 2006. When I first saw the Smart Car in Europe in 2004 I thought it was a brilliant concept, but upon my return to America I thought this car would not appeal to the local market. Obviously, Penske Motors thought differently and are now the exclusive importer & distributor of this product range.     The Smart Car The Smorche The Smorvette The Smerrari The Smamborghini 07/10/2009

Wells Fargo and Bank of America (both recipients of Federal Bailout Funds) will stop cashing California IOU's today. Other big banks are expected to follow this move. The State has issued IOU's worth almost $355 Million while its faces a $26 Billion budget gap. The IOU's (known as registered warrants) pay interest at 3.75% and can be redeemed on October 2nd or earlier if state official reach a budget deal before then. The IOU's have been issued to state contractors and recipients of income tax refunds. While many people around the country are saying this is California's problem, they should not forget that California is in fact the world's eighth largest economy and what happens in California ripples throughout the world. 07/10/2009

While driving through Doheny Estates in the Hollywood Hills I decided to take a few pics and share them with fellow ActiveRainers ..... The Hollywood Hills - the hill neighborhood north of West Hollywood - has a spectacular variety of homes with the best views available in all of Los Angeles. This residential area above the Sunset Strip is home to the highest concentration of celebrities in Los Angeles. Homes in this neighborhood with a unique "90069" West Hollywood zip code (while actually being located within the city of Los Angeles), are the most expensive cost-per-square-foot average in all Los Angeles, exceeding Beverly Hills and Bel Air. The west end of the Hollywood Hills features the stylish homes of "Doheny Estates" and what is known as the “Bird Streets”. This part of the Holl... 07/09/2009

The Transfer Disclosure Statement is an extremely important document in any Real Estate transaction (with the exception of REO's, Trust owned properties and Probates). In California one of the questions in the TDS is : "Are you (Seller) aware of any of the following: (16) Any lawsuits by or against the Seller threatening to or affecting this real property, including any lawsuits alleging a defect or deficiency in this real property or "common areas" (facilities such as pools, tennis courts, walkways, or other areas, co-owned in undivided interest with other)? I recently received a legal update from my Errors and Omissions Carrier discussing this question and how Sellers need to answer it so to be in compliance with full and correct disclosure. According to the legal update, the Appellat... 07/09/2009

The Hollywood Sign, Los Angeles Copyright © 2009 Penn Properties.  All Rights Reserved. 07/08/2009