BUY THE SANTA MONICA PIER FERRIS WHEEL - MINIMUM $50,000 + $135,000

April 26, 2008 on 9:20 pm | In Fascinating Information, For Your Purchasing Pleasure, Historic Properties, Landmarks, Lights Camera Transaction, Of Local Importance, Santa Monica Landmarks, Uncategorized, WOW, fUNNY...mONEY | 10 Comments

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Santa Monica Pier Ferris wheel on eBay

by Jodi Summers

The nine-story, 122,000-pound Ferris wheel at California’s Santa Monica Pier is up for sale on eBay.

The wheel, which has been towering over the ocean at Pacific Park for 12 years, was put up for auction on eBay this week, KTLA-TV, Los Angeles reported Thursday.

A $1.5 million modern wheel is to take the place of the old “Pacific Wheel” next month.

The old wheel, with its 20 gondolas and 5,392 light bulbs, is in great shape, amusement park spokesman Cameron Andrews said.

The wheel will be auctioned on eBay for 10 days, at a minimum cost of $50,000.

The Special Olympics will receive half of the final sale price.

The top bidder will have to pay for shipping and handling and a $135,000 base to hold the wheel, KTLA-TV reported.

http://www.upi.com/NewsTrack/Quirks/2008/04/17/santa_monica_pier_ferris_wheel_on_ebay/7865/print_view/

SM AIRPORT - Temporary Restraining Order Hearing ("USA v City of Santa Monica") - Monday, April 28, 2008 2:30 PM

April 26, 2008 on 8:19 am | In Federal Government, Of Local Importance, Problem Solving, Santa Monica Airport, The City of Santa Monica says, Uncategorized, WOW | 7 Comments

 Thanks for the update Zina…

for Jerry Rubin and all of the Santa Monica Airport anti-jet advocates, mark your calendars for Monday, April 28, 2008 2:30 PM…
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Temporary Restraining Order Hearing (”USA v City of Santa Monica”)
  Monday, April 28, 2008 2:30 PM
 United States District Judge George H. Wu 
 The hearing will be held in Courtroom 10,  
on the Spring Street level of the U.S. Courthouse  located at 312 N. Spring Street, L.A. 90012 (across the street from L.A. City Hall)
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details…
  “The city’s position is that the ban is essential to protect airport neighbors and airport users,” states Santa Monica City Atty. Marsha Jones Moutrie “It was adopted after careful consideration. The City Council has fulfilled its duty to keep the community safe.”
A court hearing, scheduled for Monday afternoon, will debate whether setting airport policy is within the City of Santa Monica power, or under Federal Aviation Administration jurisdiction.
On April 24th, the City had planned to begin enforcing a ban on jets with approach speeds of between 139 and 191 mph. They include aircraft popular with executives, such as the Gulfstream IV, Bombardier Challenger 604 and Cessna Citation X.
 

Before the band could be enforced, the FAA served the City of Santa Monica with a cease-and-desist order, claiming the ordinance that created the ban was illegal. Federal attorneys are now seeking a temporary restraining order in U.S. District Court, the first step in the process to overturn the restrictions.
This is yet another round in the six year battle between the City of Santa Monica nad the FAA in which the City has failed to resolve disputes related to public safety and aircraft access to the general aviation airport.
***********************************************************************
Friday’s L.A. Times, California section, p. B2 -  “Santa Monica suspends ban on high-speed jets” by Dan Weikel  – 
 

 ”Santa Monica officials on Thursday suspended a ban on high-speed jets at the city’s airport until a federal court decides whether the controversial restrictions are legal.” 
 

If you don’t have the hard copy, it’s available online at
 

http://www.latimes.com/news/local/la-me-jetban25apr25,1,7931242,print.story
 

 

 

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FORBES RATES THE 10 BEST CITIES FOR HOME SELLERS

April 25, 2008 on 11:17 pm | In Fascinating Information, For Your Purchasing Pleasure, Market Trends, Statistics, Uncategorized | 25 Comments

Top 10 Best Cities for Home Sellers

Four factors are widely seen as affecting whether a housing market is a good one for sellers: job growth, amount of new construction, vacancy rates, and credit availability.

Forbes magazine used a variety of resources to determine how the country’s 40 largest metro areas fared according to these measures. The result is this list of top 10 cities for sellers:

    1. San Jose, Calif. Because of a tough regulatory environment, new home construction dropped 63 percent last year.
    2. San Francisco. When the conforming loan limit recently jumped from $417,000 to the maximum $729,750, that made credit much easier to get for many of the city’s home buyers.
    3. Salt Lake City. The 3 percent annual job growth rate, paired with a declining inventory of existing homes and one of the nation’s sharpest declines in construction made this market a good one for sellers.
    4. Austin, Texas. Texas is very affordable, plus the city has the nation’s fastest job growth at 4.1 percent.
    5. Kansas City, Mo. The number of unsold, vacant houses dropped by 40 percent last year.
    6. San Antonio, Texas. Jobs are growing by 3 percent and construction starts have dropped by 42 percent.
    7. Denver. The 49 percent drop in construction starts paired with the 2 percent rise in new jobs are good news for sellers.
    8. Providence, R.I. Vacancy rates at 1.6 percent combined with a 42 percent cut in inventory help sellers.
    9. Charlotte, N.C. Moderate prices and strong job growth bode well for sellers.
    10. Seattle, Wash. Strong job growth and a 42 percent decrease in new home construction are good news for sellers.

Source: Forbes, Matt Woolsey (04/07/08)

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STATE LOANS MAY AGAIN BE USEFUL…

April 23, 2008 on 6:12 pm | In Fascinating Information, For Your Purchasing Pleasure, Governor Arnold Schwarzenegger, Market Trends, Problem Solving, Uncategorized, WOW | 20 Comments

STATE LOANS MAY AGAIN BE USEFUL…  Earth Day may hereforth be known as the day state loans became doable again.  Here’s something interesting. For the last several years, the California Housing Finance Agency loans have not been particularly useful to a lot of us here in Southern California, merely because the numbers have not worked - the money just didn’t seem to go far enough. But now, with prices dropping, the $450,000 loan limit is looking a lot more reasonable. Not to mention the fact that CalHFA is now offer a variety of 35 40 year loan packages. For more information, contact CalHFA Homeownership Programs by phone 916.324.8088; by fax 916.324.6589; by email at homeownership@calhfa.ca.gov and you can always visit CalHFA’s web site at: www.calhfa.ca.gov 

  

  California Housing Finance Agency.jpg

http://www.calhfa.ca.gov/homeownership/bulletins/2008/2008-18.pdf 

 

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The Santa Monica Chamber of Commerce was wondering if you knew…

April 16, 2008 on 9:28 pm | In Fascinating Information, Of Local Importance, Santa Monica Landmarks, Statistics, Uncategorized | 5 Comments

The Santa Monica Chamber of Commerce was wondering if you knew…
 

•        Santa Monica’s hotel/tourism sector makes up 15 - 20% of the City’s general fund revenues.
•        Automotive sales make up nearly a third of total local retail sales.
•        There are twice as many movie screens per resident in Santa Monica than the average number throughout the US.
•        More than 15% of Santa Monica employees are employed in the creative arts.
•        UCLA and St. John’s regional service area includes patients from Santa Clarita to Rancho Pales Verdes.
•        The City of Santa Monica spends nearly $2,000 per resident annually, compared to $760 in Santa Barbara.
•        Businesses generate more than 45% of the City’s total General Fund Revenues. 25% of the general fund goes to police services and 13% to community, cultural and library services.

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Ocean Park Sunset - 12 April 2008

April 12, 2008 on 8:29 pm | In Fascinating Information, Green, Historic Properties, Of Local Importance, Santa Monica Landmarks, Uncategorized, WOW | 6 Comments

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IS THE AMERICAN DREAM BECOMING OUT OF REACH?

April 10, 2008 on 1:29 pm | In Fascinating Information, Market Trends, Problem, Statistics, Uncategorized | 22 Comments

IS THE AMERICAN DREAM BECOMING OUT OF REACH? 

THE SEVEN LEAST AFFORDABLE HOUSING MARKETS ARE IN CALIFORNIA 

 

There are many hard working people all over the state of California who will never be able to buy a home because it’s simply not affordable. According to a recent study by Moody’s Economy.com, affordable homes will continue to remain out of reach for middle-income households in some cities, even as home prices are falling at the national level. 

 

The study, conducted by for the nonprofit Homes for Working Families, examines housing affordability challenges facing middle-income households — households earning between 60 percent and 120 percent of area median income — against the backdrop of falling home prices. 

 

In most markets, working families earning the median income include teachers, retail workers, police officers, office workers and others. 

 

The seven least affordable markets are in California – with the San Francisco area topping the list, and L.A. second. 

 

The study also shows that future price reductions likely will not restore home affordability to 1990s levels and that home affordability problems will continue to plague middle-income households in the coming months and years. 

 

“While the housing market’s correction is causing house prices to decline, the fall in prices is not enough to restore housing affordability for middle-income households in many metropolitan areas,” according to Celia Chen, director of housing economics, Moody’s Economy.com. 

 

The study features an analysis of the Case-Shiller three-tiered indexes of home prices. It focuses on the lowest of the three price tiers, which includes most of the homes that would be purchased by middle-income households. Findings indicate that homes in this tier are the most vulnerable to changes in market conditions. 

 

During the period of accelerated growth from 2000 to 2005, home prices in this lower tier increased significantly faster than home prices in the top two tiers, according to the study. Conversely, as home values have begun to decrease, prices in this lower tier are falling more dramatically. This effect has put middle-income households at an even greater risk of losing equity as market conditions shift. 

 

The report shows that, since 2000, the rapid increase in house prices has had the most significant negative influence on affordability. On average, if there had been no changes in incomes or interest rates during that time, housing affordability would have worsened by 89 percent as a result of the increase in house prices alone. Income growth since 2000 offset only about 23 percent of the erosion in affordability, and drops in interest rates had a mildly positive influence. 

 

The report’s authors created a housing affordability index in which 100 represents a market where a household earning the median income spends exactly 28 percent of their income on housing. A number below 100 represents a market where purchasing a median-priced home is unaffordable to a household earning the median income. 

 

Of the 40 Case-Shiller markets considered in the report, below are the 20 with the greatest affordability gap for middle-income households: 

 

1. San Francisco, Calif. - 37.7 

2. Los Angeles, Calif. - 46.9               

3. Santa Ana-Anaheim-Irvine, Calif. - 48.6  

4. San Jose, Calif. - 49.6 

5. Santa Rosa, Calif. - 51.9 

6. San Diego, Calif. - 55.3 

7. Ventura, Calif. - 55.7 

8. Miami, Fla. - 55.7 

9. Oakland, Calif. - 56.6 

10. Bridgeport-Stamford, Conn. - 64.3 

11. Seattle, Wash. - 68.8 

12. Riverside, Calif. - 69.9 

13. New York, N.Y. - 72.1 

14. Peabody, Mass. - 75.1 

15. Cambridge, Mass. - 76.2 

16. Fort Lauderdale, Fla.-76.2 

17. Boston, Mass. - 76.7 

18. Sacramento, Calif. - 77.5 

19. Portland, Ore. - 77.9 

20. Chicago, Ill. - 87.3 

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April 6, 2008 on 10:39 pm | In Fascinating Information, Problem Solving, Uncategorized | 6 Comments


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CENSUS BUREAU STATISTICS – MORE PEOPLE IN SOUTHERN CALIFORNIA

April 1, 2008 on 10:19 pm | In Fascinating Information, Federal Government, Market Trends, Of Local Importance, Statistics, Uncategorized | 6 Comments

CENSUS BUREAU STATISTICS – MORE PEOPLE IN SOUTHERN CALIFORNIA
 

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This just in - U.S. Census Bureau county population estimates for July 2007.  According to the Bureau, Riverside County was Southern California’s fasted growing area between 2006 and 2007.  Its population rose by 3.3% or 66,365 persons to a total of 2,073,571 residents.  San Bernardino County’s population increased by 1.0% or by 20,295 persons to a July 1, 2007 count of 2,007,800 residents.  San Diego County was right behind with a 0.9% population increase, or 26,497 persons, to a total of 2,974,859 residents.
Ventura County recorded a 0.5% population increase between 2006 and 2007, up by 4,359 persons to a total of 798,364 residents.  However, Los Angeles County saw its population edge down by 2,354 persons (no change in percentage terms), to 9,878,554 residents.
 

The California Department of Finance (DoF) came out with their July 1, 2007 population estimates in mid-December 2007, and comparisons with the Census estimates are interesting.  The two agencies were fairly close on the head count in Riverside County, with the Census Bureau placing the population at 2,073,571 people, while the DoF estimated 2,070,315 residents.  The 2006-2007 numerical gains were close as well, Census reporting a gain of 66,365 persons while DoF counted 66,141 new residents.
However, there were significant differences for the other five counties, with the DoF counting more people than the Census Bureau.  The best example was Los Angeles County, where the DoF estimated there were 10,294,280 residents, and the 2006-2007 population gain at 46,608 people. 
 

Info courtesy of Jack Kyser + LAEDC.org
 

http://laedc.org/eedge/index.html#4

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