West Hollywood, CA Real Estate News

By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
I was pleasantly surprised to review the December 2008 statistics for the West Hollywood Condo Market. Specifically, I compared December 2008 to 2007 and 2006. Obviously, a single month does not signal a definitive trend, but it was good to see the market holding steady. WEST HOLLYWOOD CONDOS: December 2008 / December 2007/ December 2006  Average Selling Price: $700,000 / $812,000 / $615,000 Average List Price:  $744,000 / $847,000 / $632,000 Median Price: $650,000 / $568,000 / $510,000 Total Sold in Dollars: $17,500,000 / $16,200,000 / $16,600,000 Number of Listings Sold: 25 / 20 / 27 Lowest Price Condo Sold: $319,000 / $350,000 / $381,000 Highest Price Condo Sold: $1,100,000 / $2,250,000 / $1,300,000 (Statistics extracted from The CLAW MLS and rounded off for ease of comparison)
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By Johnny Burke
(Keller Williams Realty)
Phone Fraud                     I received a telephone call last evening from an individual identifying himself as an AT&T Service Technician (could also be Telus) who was conducting a test on the telephone lines. He stated that to complete the test I should touch nine(9), zero(0), the pound sign (#), and then hang up. Luckily, I was suspicious and refused. Upon contacting the telephone company, I was informed that by pushing 90# or #09, you give the requesting individual full access to your telephone line, which enables them to place long distance calls billed to your home phone number. I was further informed that this scam has been originating from many local jails and prisons DO NOT press 90# or #09 for ANYONE. The GTE Security Department requested that I share this information with...
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By Josiah Hamilton
(Prudential)
Josiah Hamilton | Prudential California Realty Desert Region | 760.449.0049 8849 Ashcroft Ave., West Hollywood, CA Great House in Best Neighborhood steps from Robertson Blvd. 2BR/1.5BA Single Family House $3,495/month Bedrooms 2 Bathrooms 1 full, 1 partial Sq Footage Unspecified Parking 2 dedicated Pet Policy No pets Deposit $4,500 DESCRIPTION Perfect and private just remodeled from top to bottom, Modern Spanish house on Ashcroft, West Hollywood's prettiest street and only steps from Robertson Blvd's shopping and dining. Very bright and light, the house includes beautiful blond maple hardwood floors, fresh paint, new landscaping and irrigation systems and a very private, fichus-walled and electric-gated large yard and driveway. The bright sunny house boasts French doors with sitting ar...
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By Coco Clayman-Cook
(LA Condo Lifestyles)
By Coco Clayman-Cook love my condo year round, but I never love it more than I do during the Holidays.  I love the convenience of being so close to all of the shops and nightlife without having to commute long distances.  I deeply appreciate that there is a state of the art gym in my building so I can easily make every work out, even in the busy Holiday season. I especially love being able to lock and leave.  If I decide to get away for the weekend, I never have to worry.  I simply lock and leave.  If the weekend runs long and I decide to extend my vacation, I don't have to arrange for someone to check on my plants or drop off a key to anyone.  I simply make a call to my concierge and every thing is taken care of for me. And lastly, there is no better way to entertain than in a full ser...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
I've been a member of ActiveRain since May 2008, and since then I've met a great number of wonderful friends and associates. I've shared ideas and thoughts, learnt from my associates and enjoyed the opportunities created through ActiveRain. 2008 has been a brutal year. We've endured the continued futile war in Iraq, experienced outrageous gas prices, the worst economic climate since the Great Depression, and probably all of us have seen our net worth and retirement savings drastically reduced. But we need to put everything into perspective. Despite all these negative factors, America voted for a new President who has sensible and intelligent ideas. I'm confident we'll enter 2009 with a fresh new approach that can and will get us back on track. To my fellow ActiveRain members I send my "...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
"Insane, outrageous and ridiculous." There aren't adjectives powerful enough to aptly describe the arrogance and blatant stupidity displayed by the senior management of Merrill Lynch. CNNMoney.com reports that Merrill's chief executive - John Thain - is up for a $10 Million bonus for 2008. "New York Attorney General Cuomo said Monday that the $10 Million bonus is nothing less than shocking." Merrill Lynch reported losses for every quarter this year and has lost in excess of $11 Billion in 2008. Bank of America had to step in and takeover Merrill to prevent it from collapse. Bank of America in turn has received substantial assistance in the form of taxpayer's money. Yet in spite of this, Merrill's management is so arrogant and out-of-touch with reality they demand and consider astronomic...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
This weekend I was thinking about the huge amount of money that the auto industry is looking for as part of a "Bailout Package". Then I had an idea: Management and all senior executives should have a very real incentive to perform. They need to have some of their own wealth at stake. My idea is simple. Congress should insist that a large percentage of the bonuses paid to senior management over the last 10 years be repaid to the Fed, with the agreement that if, as and when the auto companies are able to turn their businesses around, these amounts would be released back to these executives. This way, management would have a serious vested interest in getting these companies profitable again. Without such onerous conditions placed upon, management could still fail after receiving the billi...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
I recently blogged about the fact that General Motors had an Electric Car that was recalled from consumers and that those cars were destroyed (around 2003). That was incredible because those cars had technology that could have made America independent of foreign oil. A comment from a fellow ActiveRainer referred me to a news clip for 1978 when actor Jack Nicholson demonstrated a hydrogen cell car that he was driving. It is evident that we had the technology - but what no-one will answer is why it was never developed to be commercially viable. In spite of this, taxpayers are now being asked (or rather begged) to provide billions of dollars in support to rescue an industry that clearly could'nt have cared less about America or its citizens. I encourage you to view the new clip below and t...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
In the midst of all the gloomy financial news, there is some good news, and that's the huge drop in the price of oil over the last 6 months. In June of this year I blogged about the daily increase in the price of gas, to the point where it was over $147 a barrel and over $5 a gallon in certain parts of Los Angeles.  Today, oil was at a 3-1/2 year low. Part of the reason for the continued slump in oil prices is the negative economic outlook as well as the fact that oil inventories have spiked higher than expected. What amazes me is that this past weekend, Saudi Arabia's King Abdullah stated that $75 a barrel is a fair price for crude. This begs the question ..... Fair for whom?
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By Robert Leighton
(Sotheby's International Realty)
On December 6, 2008, the City of West Hollywood will host its first City of West Hollywood Craft Riot .  The Craft Riot is a holiday craft fair to benefit a food and toy drive.  There will be good food, children's crafts, great entertainment and raffles. West Hollywood is a premiere city that is proactive in meeting the unique needs of its diverse community.  The city is creative at finding solutions to enhancing and preserving the area and managing the area's urban lifestyle. The food and toy drive will play an important part in helping several low-income and single parents trying to raise a family in tough economic times.  It will also help families achieve a sense of happiness during the holiday season. Attending the Craft Riot will only cost $2 to get in.  The admission fees will go...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Today I read another outrageous story on CNN.com which outlined how the Bush Administration ignored warnings about the precarious state of the mortgage industry as early as 2006. "WASHINGTON (AP) -- The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents. Expect fallout, expect foreclosures, expect horror stories," California mortgage lender Paris Welch wrote to U.S. regulators in January 2006, about one year before the housing implosion cost her a job" - CNN.com It is absurd to read that the Preside...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Are banks actively pursuing new mortgage business, or are they hoarding the cash being lent to them by the Fed? I've noticed that banks are extremely slow to do business. On the one hand, they're receiving billions of dollars in loans from the Fed, which is intended to be pumped back into the financial system to ease the mortgage crisis - yet on the other hand I've noticed that banks are slow to lend. I have several properties in escrow where the loans are late in being approved. Buyers, Sellers and co-operating brokers have done everything required to obtain final loan approval, yet the banks are delaying transactions by ignoring the contingency periods. All too often I'm hearing that the underwriters are reviewing the documents, or that a surprise audit is taking place on the file. I'...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
"Milk" is one of the best movies I've seen a very long time. It's a bold movie, well written and sincere.  Milk is based on the true story of California's first openly gay elected official, Harvey Milk - who along with the Mayor at that time - Mayor George Moscone, was shot to death by San Francisco Supervisor Dan White. The story is not just about Gay Rights, but an inspirational testament to the equality and freedoms envisioned by the Constitution of the United States and the Bill of Rights. The subject matter is highly relevant in the current political environment with Prop 8, recently voted on in California, bearing a similar controversy to Prop 6 highlighted in the movie. The movie also has live footage featuring Anita Bryant showing the senseless rhetoric of conservative Christian...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
This week I discovered that an associate of mine had lost his home due to the depressed Real Estate Market. His loft was foreclosed on. I realized how very fortunate I am that despite the current brutal Real Estate Market I've continued to do deals and remain busy. It's been difficult and frustrating - but at least I'm doing the business. Many others aren't, and I sincerely feel for them. It makes me pause and appreciate what I have: A loving and supportive partner, wonderful and caring family and friends, good health, a great home, a thriving business, and freedom and security in the country I call home. I wish all my fellow ActiveRainers a happy and peaceful Thanksgiving Day. At the same time, we should express our thoughts for the many innocent victims of the terrible attacks that oc...
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By Robert Leighton
(Sotheby's International Realty)
Only in West Hollywood can the legendary Sunset Strip, the chic Beverly Center and electric Hollywood Hills be found.  Combined, they make up the 1.9 square miles of unique LA nightlife, luxurious Hollywood spas, world-class celebrity shopping and awesome Los Angeles dining.    West Hollywood real estate boasts fourteen wonderful hotels that range from architectural wonders to discreet hideaways.  And the city happily welcomes visitors and new residents into their trendy community where the stars come out to play!   You will find an abundance of dining establishments in the area with over 140 Los Angeles restaurants; ranging from trendy and chic to casual or formal.  These collections of restaurants make one of the most diverse culinary destinations around.   When it comes to nightlife,...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
There'a trend for new movies to be 2 hours long - or even more. Often directors let the movie go on-an-on resulting in a tiresome experience. But this is definately not the case with The Changeling, which is over two and a quarter hours. The Changeling is based on a true story that took place in Los Angeles in the 1920's - 1930's and tells of a single mother (Angelina Jolie) whose son disappears from their home. The mother's prayers are answered when the son is found and returned home after many months. But the mother is convinced the boy is not hers. During this time of the prohibition era, women were not expected (or allowed) to challenge the system. The mother's only ally is an activist Reverand (John Malkovich), who helps her fight the authorities to find her son. The movie is about...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
SPECIAL COMMENT by Keith Olbermann "Prop 8 is not a question about politics or religion or gay or straight, but rather a question of love". I don't often quote Keith Olbermann or MSNBC, but this commentary is so sincere and heartfelt, that I wanted to share it with as many friends as possible. What Obermann highlights is so basic and simple, yet it' overlooked by so many people.
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
A part-owner of a Mexican restaurant in the Fairfax area of Los Angeles (on the West Hollywood border) - El Coyote - confirmed that she donated money to the "Yes on 8 Campaign" in the restaurant's name. El Coyote has 89 employees, many of whom are gay. El Coyote has a loyal gay clientele and has been a succesful family-owned restuarant since 1931. Apparently - Marjorie Christoffersen - a part-owner of the restaurant, made the donation when requested to do so by the Mormon Church. Christoffersen said she simply did what her church told her, "El Coyote is as diverse as its clientele is. Our customers are part of our family and I responded to the call of the Mormon Church to donate." When asked if she would reconsider her actions and make a donation to the "No on 8 Campaign",  Christoffers...
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By Danny Mahelka
(Coldwell Banker)
By Danny Mahelka Halloween may be a nationally recognized holiday, but in West Hollywood, it's a week-long celebration. We're known for our costume party on Santa Monica Boulevard for a reason; six designated hours to, as the catch phrase says, "Eat, drink, and be scary." Many of the costumes are what you would see anywhere else, of course. You have the Playboy Bunnies, the cheerleaders, and more than a handful of clowns. It's only in West Hollywood, though, that you'll see your Playboy Bunny as fifteen men all over 6' tall and more than 200 lbs., complete with hairy legs and beer bellies galore. The cheerleaders are not the hopeful would-be cheerleaders of young girls, but more often they consist of senior citizens ready to rock their way to All Saints' Day. Even the clowns have change...
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