Los Angeles Friends In Deed

Theft in India

noreply@blogger.com (Anonymous) — Fri, 29 Dec 2006 05:22:00 -0800

Video Description:

Aired on the 5th of October 2006, Dispatches looks into how easy it is to obtain personal information from call centres in India.

The ... all » amount of information that can be obtained and sold to anyone is frightening.

Identity theft and fraud are just somethings that can come from this sort of criminal act.

Will anti-fraud measures such as 'Chip & Pin' and National ID's protect us from our data being stolen?

Food Grocer Coops

noreply@blogger.com (Anonymous) — Sun, 15 Oct 2006 10:38:00 -0700

A documentary about Natural Foods Coops throughout the United States...

Colors Restaurant

noreply@blogger.com (Anonymous) — Sun, 15 Oct 2006 10:00:00 -0700

This is a video clip about a worker owned (co-operative) restaurant called Colors in New York City. The legal assistance to form this worker owned cooperative restaurant was provided by the Fordham Law School.

Clip 2:

clip 3:

Clip 4:

Clip 5:

America: Freedom To Fascism

noreply@blogger.com (Anonymous) — Sat, 7 Oct 2006 01:01:00 -0700

This is the official trailer of a new documentary titled "America: Freedom To Fascism".

It is currently playing in Los Angeles at the the Playhouse Theatre in Beverly Hills (located on Wilshire blvd). The film maker will be there for question and answers after the 7pm show.

For more info see: www.freedomtofascism.com

The Secret

noreply@blogger.com (Anonymous) — Wed, 26 Jul 2006 00:34:00 -0700

This video is very empowering and inspirational.

This video has info which will help you manifest what you would like in your life. The power to manifest that in your world is within you. The video is one hour and thirty minutes in length. It is the secret of life. Thank you.

Ka-ching...

noreply@blogger.com (Anonymous) — Wed, 26 Jul 2006 00:23:00 -0700

Secret Of Attraction

noreply@blogger.com (Anonymous) — Tue, 18 Jul 2006 10:10:00 -0700

Secret Of Attraction

Housing London

noreply@blogger.com (Anonymous) — Fri, 7 Jul 2006 18:13:00 -0700

http://www.guba.com/watch/2000792238

Secret History of the Credit Card

noreply@blogger.com (Anonymous) — Thu, 6 Jul 2006 08:04:00 -0700

"Secret History of The Credit Card"

This video is very informative about many things people may not be aware of.

For example, the "usory laws", "universal default", etc.

Check it out. What do you think about it?

100 Year Anniversary

noreply@blogger.com (Anonymous) — Fri, 16 Jun 2006 07:00:00 -0700

Receiving many reports of earthquakes along the fault line that run from southern California up through Alaska. There were several in the central California coast, many in Alaska, and several in Utah

Non Profits going out of business

noreply@blogger.com (Anonymous) — Sun, 19 Feb 2006 20:39:00 -0800

I am getting reports that non profit organizations are beginning to see declines in donations. And in some cases they are going out of business.

Deflation showing?

noreply@blogger.com (Anonymous) — Sun, 8 Jan 2006 02:17:00 -0800

In a recent report, Courtney Love's home went into default and was put up for aution. The report stated that no bids were received. The report stated the debt was around $365,000 in outstanding debt. From the description, it seems that the property should have been able to get well over that amount in appraised value. Yet the report states no bids were received.

A Los Angeles mortgage company owns the historic bungalow Courtney Love bought in the late 1990s, after a foreclosure auction generated no bids."

"WMC Mortgage filed a lawsuit last year in Thurston County Superior Court, seeking foreclosure after Love stopped paying the bills."

"The debt on the house totaled $386,000, which includes court costs, sheriff's fees and interest, said Thurston County Sheriff's Sgt. Dan McLendon. Love could have prevented Friday's auction by paying off the debt."

"McLendon said he expected some bids after fielding about 100 calls from people expressing interest in the property, likely due to the celebrity connection."

"It really kind of shocked me," he said of the lack of bids. "We anticipated a lot of folks coming out."

"Love, widow of Nirvana frontman Kurt Cobain, bought the property in 1997 for Cobain's family. In the foreclosure lawsuit, she is named as a trustee of the Courtney Love family trust."

"Love stopped paying the mortgage in December 2003, court documents say. The house had been occupied by Cobain's sister, Kim, who moved out before the auction."

"The house, built in 1903, is on 13 acres bordering Capitol Forest in Littlerock, about 10 miles north of Olympia. It is one of the last remaining structures from the town of Bordeaux, which was demolished in 1941, according to county records, and is listed on the local historical inventory."

What do you guys make of this?

This has the smell of deflation starting to occur. If they could get a single bid at the auction. That is just weird. One of the only explanation I cam make of it, is that it is either indicating deflation and/or the mortgage company is doing some funny business to screw the mortgagee, Love, for more money than they are rightfully owed.

Santa Monican resists pressure to sell

noreply@blogger.com (Anonymous) — Thu, 5 Jan 2006 03:06:00 -0800

In a recent article, interestingly printed in a San Francisco paper about a real estate story in Santa Monica's Dog Town, Ocean Park area. In the story it discusses how prices of real estate have skyrocketed in the last few years in Santa Monica, especially close to the beach, in Ocean Park area, and how one owner has been harrassed and pressured to sell their place. The owner has refused to sell.

"Early one recent morning, I was standing in my tiny front yard, wielding a hose toward the apathetic flowers on its southern flank. My neighbor Jan walked by and asked, 'Watering your million-dollar yard?' "

" 'Just grooming the estate," I replied, "hoping these guys will show me some love.' "

"As if. The roses and crocuses and spindly yellow things whose name I don't know all exhibit a distinct fear of commitment, with their droopy blossoms and mottled foliage."

"Other people garden; I do yard work. And when your effort is more maintenance than cultivation, you can't expect botanical ardor."

"That's OK; I have other suitors."

"See, I'm the Sally Field of this hot California property market -- all the real estate agents like me, they really like me."

"They don't care that my house combined with my separate office in the rear is only 650 square feet. On a good day. That my bumpy back yard -- the size of a Hummer3 -- supports more weeds than grass, and looks like the place where prairie dogs go to die. That the house is the neighborhood's last original "shotgun" model, which was all the rage for beach cottages at the turn of the century. Last century."

"I have suitors grand and small, from Coldwell Banker to Bulldog Realtors, and they all like to write to me a lot; some days, my mailbox is crammed with three or four of their exuberant appeals, their Market Updates and Ocean Park Sales Reports and SALES ALERT 90405. They all must get the fleet rate on capital letters."

"They keep me apprised of how much that 528-square-foot dump three blocks farther from the beach than mine sold for last month -- $1,060,000 -- and the $1,699,000 they're asking for the "Cape Cod Masterpiece" with "Curb Appeal and Staging Experts" seven doors down my street. If that boxy gray block is Cape Cod, my yard is the Japanese Tea Garden."

"One applicant for my affections -- let's call her Earth Mother -- includes photos of utterly prosaic properties that are 'Great For Owner-User,' although to my eye they have zero 'Curb Appeal.' I have no idea if they have 'Staging Experts' because I have no idea who or what they are. Her epistle is bordered with the prescriptive mantra 'The Best Investment on Earth is Earth.' "

"Then there's Sincere Guy, whose photos are not houses for sale, but headshots of himself, with square jaw, silver hair and the steely-eyed gaze of someone who should be playing a rogue TV police detective who can't quite seem to stay retired. His pitch includes a quote from Abraham Lincoln, 'I do the very best I know how; the very best I can; and I mean to keep on doing so until the end.' "

"The smiling Surfer Duo of cute guys might have seduced me even though they didn't spring for a full-color invitation to make beautiful mortgage music together. They vow, 'We Make It Happen,' but they describe their featured properties as 'Dramatic Ocean Park Promontory.' Dudes, I live here; Sixth Street isn't a promontory -- it's barely a hill. To sell my house, you'd swoon 'Quaint! Cozy! Original Beach Cottage!' when what you really mean is 'no dishwasher, smaller than a Sub-Zero freezer, and teardown/land value only.' "

"My favorite petitioner is Theme Guy. He's into branding. His postcards do not depict properties for sale, or recent sales 'In Your Area,' but are practical and fun. His first campaign was, 'Your Recipe for Success in Real Estate,' illustrated with recipes for 'Fiesta Fajitas' and 'Broiled Cod' and some muffin thing I actually saved for my kitchen file. His homey meals were replete with nutritional information and preparation time. A few weeks ago, Theme Guy changed his brand and now he's animal warm and fuzzy: 'Did you know... Dolphins sleep with one eye open?' 'Did you know... A rhinoceros's horn is made of compacted hair?' 'Did you know... An ostrich's eye is bigger than its brain?' "

"Then I read the smaller print: 'And did you also know... that moving into your dream home may be easier than you think? Because of my marketing, I often have qualified buyers looking for homes likes yours...'."

"No, you don't."

"Your buyers wouldn't live on this dinky plot of uneven land in a house that is to their current residence as a birdbath is to San Francisco Bay. But in the 100-plus years since my house was born, the neighborhood has grown up, and because a rising tide lifts all boats, because the value of ocean-adjacent property is the New Lunacy, Jan's appraisal is no fantasy."

"You, and your buyers, don't want my house. You're lusting for my listing in this beachy, parking-poor neighborhood because I own a driveway. It's irrelevant that my little lawn looks like a sixth-grader's science project, or that my diminutive dwelling bears some of the original 2 3/4-inch redwood siding. You've never even noticed that, years ago, I pressed scores of children's marbles into the newly poured concrete of the porch because it looks cool."

"Several neighbors recently have exploited this simmering market. Some have sold, and others have torn down and started over, added on, re-tiled and in myriad other ways burnished their investment with accoutrements you don't find in the toy department. Do they have more money than I do, or just different priorities? Do they have more confidence in the endurance of the real estate bubble, or just more muscular retirement portfolios?"

"You, my prodigious pursuers, are hoping I'll catch the neighborhood bug for bigger, better, different, and that you're the one I'll chose to treat the affliction."

"Sorry. I might have the smallest realm in the kingdom, but this land baron is staying put."

Christmas Creditors Caroling

noreply@blogger.com (Anonymous) — Mon, 19 Dec 2005 05:54:00 -0800

From the Guardian, in the UK, is warning about consumers about "doorstep lenders"

"Social landlords like housing associations can really make a difference, by helping financially excluded residents manage their money around Christmas and offer a real alternative to doorstep loans at shocking interest rates."

What are "Social landlords"?

"Doorstep lenders are set to collect £37m in interest payments from some of the UK's poorest families who borrow money to cover the cost of Christmas, the Housing Corporation warned today.

I wonder if this is legal in the UK. It seems the author of this article is not stating otherwise.

The group said the average parent planned to spend £137 on presents for their children this year, and people who were financially excluded would be forced to borrow this money from doorstep lenders at interest rates of up to 600%.
It said the prospects were even worse for those forced to turn to illegal loan sharks, some of whom charge 8,000% interest.

8,000% is certainly a motivation to loan money. And I suspect credit card companies see this too. That is a very healthy profit.

In a bid to help tackle the problem, the Housing Corporation has launched a money access programme to encourage housing associations and other social landlords to help their financially excluded residents gain access to affordable credit and other financial services.
These include offering face-to-face debt advice; setting up credit unions and helping people claim benefits and access basic bank accounts.

Education, is certainly a good thing.

"At Christmas, every parent is under the same pressure to make it special for their children," said Jon Rouse, chief executive of the Housing Corporation. "But if they borrow from doorstep lenders, they risk the roof over their heads in return for a day's happiness.

I suspect this is going on, often, in Los Angeles, especially among the poorest, least educated, those with out of control addictions, and illegal aliens.

And once people get into debt, they could be still be paying it off this time next year, according to research from debt advice firm, One Advice.
The group estimates 2.4 million people are still paying off debts they ran up last Christmas. At the same time a further 1.7 million people took between six and 10 months to clear their festive debts, while nearly 687,000 people only finished paying them off in November, the research showed.
People aged between 45 and 54 were most likely to still be paying off last Christmas's debt, with nearly one in 10 people in this age group not yet back in the black.
Around 8% of people in the south-east are also still repaying last year's spending, compared with just 4% of people in the Midlands and East Anglia.

I have seen a couple documentaries on the car loan business for used cars, in the UK. It was astonishing to see how they operate. They were the equivlent of loan shark businesses.

"The scale of the debt problem facing this country is very alarming, and it is generally fuelled by Christmas," said Chris Holmes, chief executive of One Advice.
Mr Holmes said people should try to enjoy the festive season without leaving themselves with a huge financial hangover in the New Year.
"Those that do have serious financial problems should seek professional advice as soon as possible because the longer they leave it, the worse it becomes," he said.

I wonder how this is connected with the housing bubble in the UK.

noreply@blogger.com (Anonymous) — Mon, 19 Dec 2005 04:41:00 -0800

Intentional Communities wikipedia

Modern Nomads Intentional Community

noreply@blogger.com (Anonymous) — Sun, 18 Dec 2005 07:22:00 -0800

This an article about the concept of applying Van Dwelling along with intentional community/cohousing lifestyle, along with property ownership and stewardship. Join the discussion in the comments section.

Housing for Raffle in Los Angeles...

noreply@blogger.com (Anonymous) — Sat, 17 Dec 2005 10:29:00 -0800

This subject reminds me how some people get involved with gambling, by betting on the Superboal game either in office pools or in Las Vegas, etc.

And with that, I have seen reports when people have trouble selling their home outright, that they would run a raffle, and sell tickets. And once they accumulate so many tickets, then they do a drawing for the lucky winner. I wonder if that kind of thing will be taking place more frequently as the housing bubble pops.

I am thinking that people may, it seems human tendency, to take smaller risks, like by lottery tickets, and losing that, for the chance at winning something big.

So say the ticket cost 20 bucks. And there were like 10 prizes you could win, all the way from a a gift certificate from a dinner or something like that, perhaps one of the family cars, perhaps, some other items the family owns, with the grand prize being the house.

I am wondering if that could be done in a way that is legal...

Downtown Santa Monica under Construction

noreply@blogger.com (Anonymous) — Sat, 17 Dec 2005 10:15:00 -0800

You guys might have read alot of news reports about downtown Los Angeles getting alot of new condo towers being built, along with some luxury apartment buildings, etc.

What you may not have seen a report on yet, is that there is also many new "luxury apartment" building towers being built in downtown Santa Monica. Just yesturday, I saw at least about 5 or more 5 plus story condo and "Luxury Apartment" buildings being constructed at this very moment. I am not sure how many units that will be. They are in various stages of development, from just breaking ground all the way to last finishing touches of paint. I may post some pictures at the Los Angeles Friends In Deed blog in the near future. I will see if I can get some good data on the number of units, and the prices, and the pace at which they get rented or sold, etc.

Although, Santa Monica is probably a safe place to invest real estate dollars, generally speaking, I think these developers may have missed winning lottery ticket, if they were planning on selling these units. I think the prices are definitely soft. And there is a limit to affordability.

However, if the subway from downtown Los Angeles does get extended down Wilshire through to downtown Santa Monica, that will most definitely re-invigorate real estate values in downtown Santa Monica, both commercial and residential.

Community Building through games

noreply@blogger.com (Anonymous) — Mon, 12 Dec 2005 04:57:00 -0800

Recently came across two games be a company called Family Pastimes. One is called "Community" and the other is called "Our Town".

The description of the "Community" game is:

"A game about communal living. We try to develop a happy, complete village. There are hardships and opportunities. There are Bad Feelings to handle with Love and Forgiveness. The Meeting hall is the heart of the community."

"If we succeed in building a community, we all win together. A medium-complicated game that explores both material and spiritual values."

They describe the "Our Town" game as:

"The urban companion of Community, with higher level strategies."

"We try to develop our city's economy and avoid going bankrupt. We decide on what works best as private enterprise and/or what works best cooperatively owned and operated. Maybe credit unions, food co-ops, people parks! The Daily News and mail bring many challenges."

In Addition to those two games, the game company Family Pastimes have about 30 or more other games with a "co-operative" themes to them. They are worth taking a look at.

It might be nice if local public libraries considered including board games in their collections.

That would be an excellent use of public resources. People could go to their local library and check out a board game, like "Our Town" or "Community" like a book, CD, DVD, Magazine, play it and learn from it, then bring it back to the library, so another patron of the library could check it out too.

The libraries could also be instrumental in coordinating game play with other public library patrons by organizing or coordinating playing these games in some of their community and/or study rooms.

It would provide more opportunities for people in the community to get to know one another, in addition to developing skills, like "Our Town" and "Community" game developers strive to foster.

"Songs From A Van"

noreply@blogger.com (Anonymous) — Fri, 9 Dec 2005 00:36:00 -0800

Sebastian Clark, whom lives in his Van, a VW Vanagon(see picture of him and his van to the right), has created a cd titled "Songs From A Van" which he said he made entirely from within the van, while parking it around various parts of Los Angeles(mostly around the South Bay), while working at Starbucks.

According to Sebatian, the cardboard used for his CD packaging is reclaimed discards from Starbucks, where he has been working as a barrista(see picture below).

Read what his management company, The Whatever Project, says about him(its an interesting story).

One of his best pieces, in my opinion, from his CD "Songs From A Van" is titled "Home" (MP3)(Lyrics).

This song, "Home", sums up life of thousands of people in Los Angeles, in my opinion. People just want a home to call thier own.

Check out his stories about the adventures he experienced while living in and creating the music for the CD, including run-ins with 4 Redondo Beach patrol cars that surrounded his VW Vanagon, and a evening city line view a-top a ministorage parking lot with a detectable wifi connection, at: www.songsfromavan.com (the stories are in the "hidden stuff" link at the bottom of the page) (Note: you can also find lyrics to all his songs at his home page. Also he has a way to buy his CD from the webpage along with other stuff with pictures or graphics of him and his van, etc)

He says, at the time of this writing, December 2005, that he is planning to begin a west coast tour sometime in January 2006.

California Constitution Article 13a (AKA Prop 13)

noreply@blogger.com (Anonymous) — Sat, 3 Dec 2005 07:32:00 -0800

This is the text I could find on California's "Prop 13":

CALIFORNIA CONSTITUTION ARTICLE 13A (TAX LIMITATION) SECTION 1. (a) The maximum amount of any ad valorem tax on real property shall not exceed One percent (1%) of the full cash value of such property. The one percent (1%) tax to be collected by the counties and apportioned according to law to the districts within the counties. (b) The limitation provided for in subdivision (a) shall not apply to ad valorem taxes or special assessments to pay the interest and redemption charges on any of the following: (1) Indebtedness approved by the voters prior to July 1, 1978. (2) Bonded indebtedness for the acquisition or improvement of real property approved on or after July 1, 1978, by two-thirds of the votes cast by the voters voting on the proposition. (3) Bonded indebtedness incurred by a school district, community college district, or county office of education for the construction, reconstruction, rehabilitation, or replacement of school facilities, including the furnishing and equipping of school facilities, or the acquisition or lease of real property for school facilities, approved by 55 percent of the voters of the district or county, as appropriate, voting on the proposition on or after the effective date of the measure adding this paragraph. This paragraph shall apply only if the proposition approved by the voters and resulting in the bonded indebtedness includes all of the following accountability requirements: (A) A requirement that the proceeds from the sale of the bonds be used only for the purposes specified in Article XIIIA, Section 1(b) (3), and not for any other purpose, including teacher and administrator salaries and other school operating expenses. (B) A list of the specific school facilities projects to be funded and certification that the school district board, community college board, or county office of education has evaluated safety, class size reduction, and information technology needs in developing that list. (C) A requirement that the school district board, community college board, or county office of education conduct an annual, independent performance audit to ensure that the funds have been expended only on the specific projects listed. (D) A requirement that the school district board, community college board, or county office of education conduct an annual, independent financial audit of the proceeds from the sale of the bonds until all of those proceeds have been expended for the school facilities projects. (c) Notwithstanding any other provisions of law or of this Constitution, school districts, community college districts, and county offices of education may levy a 55 percent vote ad valorem tax pursuant to subdivision (b). CALIFORNIA CONSTITUTION ARTICLE 13A (TAX LIMITATION) SEC. 2. (a) The "full cash value" means the county assessor's valuation of real property as shown on the 1975-76 tax bill under "full cash value" or, thereafter, the appraised value of real property when purchased, newly constructed, or a change in ownership has occurred after the 1975 assessment. All real property not already assessed up to the 1975-76 full cash value may be reassessed to reflect that valuation. For purposes of this section, "newly constructed" does not include real property that is reconstructed after a disaster, as declared by the Governor, where the fair market value of the real property, as reconstructed, is comparable to its fair market value prior to the disaster. Also, the term "newly constructed" shall not include the portion of reconstruction or improvement to a structure, constructed of unreinforced masonry bearing wall construction, necessary to comply with any local ordinance relating to seismic safety during the first 15 years following that reconstruction or improvement. However, the Legislature may provide that under appropriate circumstances and pursuant to definitions and procedures established by the Legislature, any person over the age of 55 years who resides in property that is eligible for the homeowner's exemption under subdivision (k) of Section 3 of Article XIII and any implementing legislation may transfer the base year value of the property entitled to exemption, with the adjustments authorized by subdivision (b), to any replacement dwelling of equal or lesser value located within the same county and purchased or newly constructed by that person as his or her principal residence within two years of the sale of the original property. For purposes of this section, "any person over the age of 55 years" includes a married couple one member of which is over the age of 55 years. For purposes of this section, "replacement dwelling" means a building, structure, or other shelter constituting a place of abode, whether real property or personal property, and any land on which it may be situated. For purposes of this section, a two-dwelling unit shall be considered as two separate single-family dwellings. This paragraph shall apply to any replacement dwelling that was purchased or newly constructed on or after November 5, 1986. In addition, the Legislature may authorize each county board of supervisors, after consultation with the local affected agencies within the county's boundaries, to adopt an ordinance making the provisions of this subdivision relating to transfer of base year value also applicable to situations in which the replacement dwellings are located in that county and the original properties are located in another county within this State. For purposes of this paragraph, "local affected agency" means any city, special district, school district, or community college district that receives an annual property tax revenue allocation. This paragraph shall apply to any replacement dwelling that was purchased or newly constructed on or after the date the county adopted the provisions of this subdivision relating to transfer of base year value, but shall not apply to any replacement dwelling that was purchased or newly constructed before November 9, 1988. The Legislature may extend the provisions of this subdivision relating to the transfer of base year values from original properties to replacement dwellings of homeowners over the age of 55 years to severely disabled homeowners, but only with respect to those replacement dwellings purchased or newly constructed on or after the effective date of this paragraph. (b) The full cash value base may reflect from year to year the inflationary rate not to exceed 2 percent for any given year or reduction as shown in the consumer price index or comparable data for the area under taxing jurisdiction, or may be reduced to reflect substantial damage, destruction or other factors causing a decline in value. (c) For purposes of subdivision (a), the Legislature may provide that the term "newly constructed" does not include any of the following: (1) The construction or addition of any active solar energy system. (2) The construction or installation of any fire sprinkler system, other fire extinguishing system, fire detection system, or fire-related egress improvement, as defined by the Legislature, that is constructed or installed after the effective date of this paragraph. (3) The construction, installation, or modification on or after the effective date of this paragraph of any portion or structural component of a single- or multiple-family dwelling that is eligible for the homeowner's exemption if the construction, installation, or modification is for the purpose of making the dwelling more accessible to a severely disabled person. (4) The construction or installation of seismic retrofitting improvements or improvements utilizing earthquake hazard mitigation technologies, that are constructed or installed in existing buildings after the effective date of this paragraph. The Legislature shall define eligible improvements. This exclusion does not apply to seismic safety reconstruction or improvements that qualify for exclusion pursuant to the last sentence of the first paragraph of subdivision (a). (5) The construction, installation, removal, or modification on or after the effective date of this paragraph of any portion or structural component of an existing building or structure if the construction, installation, removal, or modification is for the purpose of making the building more accessible to, or more usable by, a disabled person. (d) For purposes of this section, the term "change in ownership" does not include the acquisition of real property as a replacement for comparable property if the person acquiring the real property has been displaced from the property replaced by eminent domain proceedings, by acquisition by a public entity, or governmental action that has resulted in a judgment of inverse condemnation. The real property acquired shall be deemed comparable to the property replaced if it is similar in size, utility, and function, or if it conforms to state regulations defined by the Legislature governing the relocation of persons displaced by governmental actions. The provisions of this subdivision shall be applied to any property acquired after March 1, 1975, but shall affect only those assessments of that property that occur after the provisions of this subdivision take effect. (e) (1) Notwithstanding any other provision of this section, the Legislature shall provide that the base year value of property that is substantially damaged or destroyed by a disaster, as declared by the Governor, may be transferred to comparable property within the same county that is acquired or newly constructed as a replacement for the substantially damaged or destroyed property. (2) Except as provided in paragraph (3), this subdivision shall apply to any comparable replacement property acquired or newly constructed on or after July 1, 1985, and to the determination of base year values for the 1985-86 fiscal year and fiscal years thereafter. (3) In addition to the transfer of base year value of property within the same county that is permitted by paragraph (1), the Legislature may authorize each county board of supervisors to adopt, after consultation with affected local agencies within the county, an ordinance allowing the transfer of the base year value of property that is located within another county in the State and is substantially damaged or destroyed by a disaster, as declared by the Governor, to comparable replacement property of equal or lesser value that is located within the adopting county and is acquired or newly constructed within three years of the substantial damage or destruction of the original property as a replacement for that property. The scope and amount of the benefit provided to a property owner by the transfer of base year value of property pursuant to this paragraph shall not exceed the scope and amount of the benefit provided to a property owner by the transfer of base year value of property pursuant to subdivision (a). For purposes of this paragraph, "affected local agency" means any city, special district, school district, or community college district that receives an annual allocation of ad valorem property tax revenues. This paragraph shall apply to any comparable replacement property that is acquired or newly constructed as a replacement for property substantially damaged or destroyed by a disaster, as declared by the Governor, occurring on or after October 20, 1991, and to the determination of base year values for the 1991-92 fiscal year and fiscal years thereafter. (f) For the purposes of subdivision (e): (1) Property is substantially damaged or destroyed if it sustains physical damage amounting to more than 50 percent of its value immediately before the disaster. Damage includes a diminution in the value of property as a result of restricted access caused by the disaster. (2) Replacement property is comparable to the property substantially damaged or destroyed if it is similar in size, utility, and function to the property that it replaces, and if the fair market value of the acquired property is comparable to the fair market value of the replaced property prior to the disaster. (g) For purposes of subdivision (a), the terms "purchased" and "change in ownership" do not include the purchase or transfer of real property between spouses since March 1, 1975, including, but not limited to, all of the following: (1) Transfers to a trustee for the beneficial use of a spouse, or the surviving spouse of a deceased transferor, or by a trustee of such a trust to the spouse of the trustor. (2) Transfers to a spouse that take effect upon the death of a spouse. (3) Transfers to a spouse or former spouse in connection with a property settlement agreement or decree of dissolution of a marriage or legal separation. (4) The creation, transfer, or termination, solely between spouses, of any coowner's interest. (5) The distribution of a legal entity's property to a spouse or former spouse in exchange for the interest of the spouse in the legal entity in connection with a property settlement agreement or a decree of dissolution of a marriage or legal separation. (h) (1) For purposes of subdivision (a), the terms "purchased" and "change in ownership" do not include the purchase or transfer of the principal residence of the transferor in the case of a purchase or transfer between parents and their children, as defined by the Legislature, and the purchase or transfer of the first one million dollars ($1,000,000) of the full cash value of all other real property between parents and their children, as defined by the Legislature. This subdivision shall apply to both voluntary transfers and transfers resulting from a court order or judicial decree. (2) (A) Subject to subparagraph (B), commencing with purchases or transfers that occur on or after the date upon which the measure adding this paragraph becomes effective, the exclusion established by paragraph (1) also applies to a purchase or transfer of real property between grandparents and their grandchild or grandchildren, as defined by the Legislature, that otherwise qualifies under paragraph (1), if all of the parents of that grandchild or those grandchildren, who qualify as the children of the grandparents, are deceased as of the date of the purchase or transfer. (B) A purchase or transfer of a principal residence shall not be excluded pursuant to subparagraph (A) if the transferee grandchild or grandchildren also received a principal residence, or interest therein, through another purchase or transfer that was excludable pursuant to paragraph (1). The full cash value of any real property, other than a principal residence, that was transferred to the grandchild or grandchildren pursuant to a purchase or transfer that was excludable pursuant to paragraph (1), and the full cash value of a principal residence that fails to qualify for exclusion as a result of the preceding sentence, shall be included in applying, for purposes of subparagraph (A), the one million dollar ($1,000,000) full cash value limit specified in paragraph (1). (i) (1) Notwithstanding any other provision of this section, the Legislature shall provide with respect to a qualified contaminated property, as defined in paragraph (2), that either, but not both, of the following shall apply: (A) (i) Subject to the limitation of clause (ii), the base year value of the qualified contaminated property, as adjusted as authorized by subdivision (b), may be transferred to a replacement property that is acquired or newly constructed as a replacement for the qualified contaminated property, if the replacement real property has a fair market value that is equal to or less than the fair market value of the qualified contaminated property if that property were not contaminated and, except as otherwise provided by this clause, is located within the same county. The base year value of the qualified contaminated property may be transferred to a replacement real property located within another county if the board of supervisors of that other county has, after consultation with the affected local agencies within that county, adopted a resolution authorizing an intercounty transfer of base year value as so described. (ii) This subparagraph applies only to replacement property that is acquired or newly constructed within five years after ownership in the qualified contaminated property is sold or otherwise transferred. (B) In the case in which the remediation of the environmental problems on the qualified contaminated property requires the destruction of, or results in substantial damage to, a structure located on that property, the term "new construction" does not include the repair of a substantially damaged structure, or the construction of a structure replacing a destroyed structure on the qualified contaminated property, performed after the remediation of the environmental problems on that property, provided that the repaired or replacement structure is similar in size, utility, and function to the original structure. (2) For purposes of this subdivision, "qualified contaminated property" means residential or nonresidential real property that is all of the following: (A) In the case of residential real property, rendered uninhabitable, and in the case of nonresidential real property, rendered unusable, as the result of either environmental problems, in the nature of and including, but not limited to, the presence of toxic or hazardous materials, or the remediation of those environmental problems, except where the existence of the environmental problems was known to the owner, or to a related individual or entity as described in paragraph (3), at the time the real property was acquired or constructed. For purposes of this subparagraph, residential real property is "uninhabitable" if that property, as a result of health hazards caused by or associated with the environmental problems, is unfit for human habitation, and nonresidential real property is "unusable" if that property, as a result of health hazards caused by or associated with the environmental problems, is unhealthy and unsuitable for occupancy. (B) Located on a site that has been designated as a toxic or environmental hazard or as an environmental cleanup site by an agency of the State of California or the federal government. (C) Real property that contains a structure or structures thereon prior to the completion of environmental cleanup activities, and that structure or structures are substantially damaged or destroyed as a result of those environmental cleanup activities. (D) Stipulated by the lead governmental agency, with respect to the environmental problems or environmental cleanup of the real property, not to have been rendered uninhabitable or unusable, as applicable, as described in subparagraph (A), by any act or omission in which an owner of that real property participated or acquiesced. (3) It shall be rebuttably presumed that an owner of the real property participated or acquiesced in any act or omission that rendered the real property uninhabitable or unusable, as applicable, if that owner is related to any individual or entity that committed that act or omission in any of the following ways: (A) Is a spouse, parent, child, grandparent, grandchild, or sibling of that individual. (B) Is a corporate parent, subsidiary, or affiliate of that entity. (C) Is an owner of, or has control of, that entity. (D) Is owned or controlled by that entity. If this presumption is not overcome, the owner shall not receive the relief provided for in subparagraph (A) or (B) of paragraph (1). The presumption may be overcome by presentation of satisfactory evidence to the assessor, who shall not be bound by the findings of the lead governmental agency in determining whether the presumption has been overcome. (4) This subdivision applies only to replacement property that is acquired or constructed on or after January 1, 1995, and to property repairs performed on or after that date. (j) Unless specifically provided otherwise, amendments to this section adopted prior to November 1, 1988, shall be effective for changes in ownership that occur, and new construction that is completed, after the effective date of the amendment. Unless specifically provided otherwise, amendments to this section adopted after November 1, 1988, shall be effective for changes in ownership that occur, and new construction that is completed, on or after the effective date of the amendment. CALIFORNIA CONSTITUTION ARTICLE 13A (TAX LIMITATION) Section 3. From and after the effective date of this article, any changes in state taxes enacted for the purpose of increasing revenues collected pursuant thereto whether by increased rates or changes in methods of computation must be imposed by an Act passed by not less than two-thirds of all members elected to each of the two houses of the Legislature, except that no new ad valorem taxes on real property, or sales or transaction taxes on the sales of real property may be imposed. CALIFORNIA CONSTITUTION ARTICLE 13A (TAX LIMITATION) Section 4. Cities, Counties and special districts, by a two-thirds vote of the qualified electors of such district, may impose special taxes on such district, except ad valorem taxes on real property or a transaction tax or sales tax on the sale of real property within such City, County or special district. CALIFORNIA CONSTITUTION ARTICLE 13A (TAX LIMITATION) Section 5. This article shall take effect for the tax year beginning on July 1 following the passage of this Amendment, except Section 3 which shall become effective upon the passage of this article. CALIFORNIA CONSTITUTION ARTICLE 13A (TAX LIMITATION) Section 6. If any section, part, clause, or phrase hereof is for any reason held to be invalid or unconstitutional, the remaining sections shall not be affected but will remain in full force and effect. CALIFORNIA CONSTITUTION ARTICLE 13A (TAX LIMITATION) SEC. 7. Section 3 of this article does not apply to the California Children and Families First Act of 1998.

Congressman pleads guilty in bribery

noreply@blogger.com (Anonymous) — Mon, 28 Nov 2005 17:34:00 -0800

The LA Times reported that congressman Cunningham, from San Diego, admitted guilt in bribery and other charges.

"Cunningham admitted to receiving at least $2.4 million in bribes — checks for over $1 million, cash, rugs, antiques, furniture, yacht club fees and vacations, according to prosecutors. He agreed to return $1.8 million."

"He did the worst thing an elected official can do — he enriched himself through his position and violated the trust of those who put him there," U.S. Atty. Carol Lam said in a statement."

"Cunningham sold his home to a defense contractor at an inflated price, sparking a wide-ranging federal corruption investigation. The eight-term congressman announced this fall that he would not seek reelection next year, setting off a scramble among would-be successors."

Real Estate Prices Out of Control... What's next?

noreply@blogger.com (Anonymous) — Sun, 27 Nov 2005 06:25:00 -0800

"What has destroyed every previous civilization has been the tendency to the unequal distribution of wealth and power" Henry George

A blogger on Ben Jones blog, The Housing Bubble posted a comment which I thought is worth repeating here in part, with my comments. I have written before, on this blog on Henry George and the Office of Price Administration. The more I write on these subjects the more new things I learn about them.

sm_landlord wrote:
As a result of the inflation of the seventies, we saw the return of rent controls in some places. If we don't get a correction in the housing market, it's not impossible that we could see housing price controls.

My response was this:
What kind of housing price controls do you think we could see? I do know that in the 1940's the president issued an executive order to form the Office of Price Administration which was put into place to stop inflation that had cropped up as a result of WWII. Perhaps one of the reasons for real estate out of control inflation, among the other reasons discussed on this blog and others, is that, as a result of our latest "war on terrorism", war on Iraq. The potential war on china, iran, France etc, we are see the dynamics of war playing out of hording limited resources, such as real estate. And perhaps our president has dropped the ball, and perhaps on purpose, to look the other way, in regards to to the out of control inflation in real estate. Perhaps he is doing so to try and maintain some of his "juice" with the public because much of the public will be, for at least a temporary time, flush with cash, and a real estate ATM to withdraw from as their wages stagnate, fuel prices go up, and livable wage jobs begin to vaporize.

Henry George , circ. late 1800's, published and lectured on some interesting comments and ideas on economics, real estate policy, etc. Below is one particular quote from wikipedia, of a facet of a much more comprehensive set of ideas he wrote developed and taught on.

"Although best known for advocating the replacement of other taxes by land taxes, Henry George formulated a comprehensive set of economic policies. Much like the modern Open Source movement, George was highly critical of restrictive patents and copyrights. George advocated replacement of patents with government supported ncentives for invention and scientific investigation and dismantling of monopolies when possible – and taxation or regulation of natural monopolies. George advocated a combination of unfettered free markets and extensive social programs made possible by taxes on land and monopolies. Modern day economists like Nobel Prize winner Milton riedman admit that Henry George's Land tax is potentially beneficial because, unlike other taxes, land taxes tend not to affect the prices of consumer products. Modern day environmentalists have resonated with the idea of the earth as the common property of humanity – and some have endorsed the idea of substantial taxes or fees on pollution. Others, notably U.S. economist Nicolaus Tideman and U.S. activist Alanna Hartzok, continue to promote the essential Georgist idea of land value taxation."

Housing Bubble influences New car designs

noreply@blogger.com (Anonymous) — Mon, 21 Nov 2005 10:33:00 -0800

New Car designer come up with a design called "The Pad".

"The design by GMC, called ""The Pad" (LA Times", is not a car, it's 'a modern alternative for those priced out of Southern California's escalating housing market'."

"With a look that suggests the product of a shotgun marriage between an Airstream trailer and Disney Hall — designer Steve Anderson says his chief inspirations were Frank Gehry and another architect, Zaha Hadid — the PAD is a studio apartment on wheels, a vehicle designed to rid the mobile home of its down-market stigma. In "drive mode," the PAD features a diesel-electric hybrid engine; in "life mode," DirecTV and stainless-steel appliances. "

"When the cheapest little cottage in North Hollywood is going for $500,000, then maybe it's time to be coming up with some new ideas," Anderson says. "We wanted to create something that would look at home in Dwell magazine, a place you could bring your date back to without feeling embarrassed."

See other design entries in the LA Times article, including one called the "Running Bus" which is mounted with 6 treadmills where the passengers run on to make the thing go.

"L.A.'s Housing Market Surges..."??

noreply@blogger.com (Anonymous) — Thu, 15 Sep 2005 18:49:00 -0700

In an article titled L.A.’s Housing Market Surges, Ignores Gloom (Los Angeles Business Journal - 9/12/2005), Andy Fixmer reports that there are more sales of homes in August 2005 compared to August 2004. It is unclear what this is. However, I do know that there were some extremely large condo projects coming up for sale such as one of the largest on Lincoln and Jefferson in the Playa Del Rey area.

The Artile states:

L.A. homebuyers in August shrugged off increasingly dire warnings of an overheated housing market, driving prices higher while stepping up the pace of purchases.

The median price of an existing single-family home in Los Angeles County in August was $520,000, according to data provided by Melville, N.Y.-based HomeData Corp. That compares with $425,000 for the like period a year earlier and $515,000 in the previous month.

Meanwhile, the number of L.A. County home resales rose to 12,107, a 9.1 percent jump from the 11,094 homes sold in August 2004. August’s sales volume was up nearly one-third from the 9,294 homes that traded hands in July – evidence that despite news reports warning of risky mortgages, overbuilding and speculation, buyers continue to be aggressive.

“People are quite anxious to take advantage of still-low interest rates,” said Stanley Smith, a senior vice president with Sotheby’s International Realty. “At the same time I wouldn’t call it frantic behavior. The appearance of a frenzy is really just a large number of buyers bidding on a limited number of homes for sale.”

Smith noted that interest rates on 30-year fixed mortgages continued to hold steady, and even fell compared to where they were last year. “Traditionally this is our slow time,” Smith said. “The fact that there has been this huge strength in the market belies the traditional market trend of slow sales in the summer.”

Assuming a 30-day escrow, most of the home sales that closed in August were based on buying decisions made in July. That’s when an intense period of media coverage was predicting a looming correction. Further, a Credit Suisse First Boston analyst’s report warned that public homebuilders were vulnerable to a bubble and raised concerns of overbuilding and the rising use of risky adjustable-rate loans.

Christopher Thornberg, a senior economist with UCLA’s Anderson Forecast, said it will take more than repeated warnings from Federal Reserve Chairman Alan Greenspan and doom-and-gloom media coverage to change people’s behavior.

“Look at the stock market in 2000,” said Thornberg, who has warned of a housing bubble for nearly three years. “Economists were screaming from rooftops about a bubble and it didn’t deter anyone.”

Heating up
While the median home price in L.A. County has shot up by $45,000 since May, some economists and real estate professionals say they can see signs of weakness. For example, the median home price for August rose just $5,000 from July, slightly less than 1 percent.

Mitch Ohlbaum, president of lender Legend Mortgage, said that with so many buyers in the market competing for a limited number of homes, that’s a modest uptick. “You are seeing a lot of increased sales in fringe communities, which is driving up the overall sales numbers,” he said.

There have been other hiccups during the housing boom and economists warn that trends must play out for months before they’re certain. “One month does not a trend make,” Thornberg said. “There’s a certain amount of momentum in any market and that can be part of why prices continue to go up.”

Thornberg also warned that extrapolating data could be useless in a market so sensitive to statistical glitches, such as a sudden drop in mortgage interest rates.

Some of the communities that saw the highest increases in sales volume in August were also among the region’s most expensive neighborhoods.

There was a 95 percent spike in the number homes sold in the Calabasas ZIP code of 91302 during August, when 76 homes traded at a median price of $1.3 million. In Bel-Air’s 90077, 24 homes – a 166 percent increase from a year ago – were sold at a median price of $1.8 million.

Other wealthy enclaves saw the number of homes sold increase sharply, while prices remained flat.

In Beverly Hills’ 90210 ZIP code, 42 homes were sold compared with 19 a year ago, an increase of 121 percent. But the median price of a home in the district remained nearly flat, at $2.4 million.

And in Santa Monica’s 90402, there was a 144 percent jump in the number of homes sold, but the median home price held steady at $2.4 million.

“I think the rate of appreciation for homes has certainly slowed, which is good for everyone,” Smith said. “We don’t want to price everyone of out of the market.”

It may be too late for first-time homebuyers. Many find it difficult to save for a down payment at a rate fast enough to keep pace with rising values. Just as many first time buyers get close to having a traditional 10 percent or 20 percent down payment, home prices rise and they find themselves without enough funds to secure a mortgage.

The California Association of Realtors reported last week that the percentage of L.A. County households able to afford the median-priced home in July stood at 14 percent. That’s down 3 percentage points from the year-ago period and down from 15 percent in June. Statewide, 16 percent of the population has the income necessary to afford the median priced home. Nationwide, the figure stands at 49 percent.

High prices have pushed many local buyers into the market for condominiums and town homes, which tend to be a cheaper alternative. However, values of those properties have also soared.

For August, the median resale price for an L.A. County condominium was $400,000, according to HomeData figures, up from $325,000 in August 2004. Condo resale volume for August rose to 2,768 units from 2,422 units in August 2004 and 2,096 units in July 2005.

Recent California single-family home values have outpaced all previous spikes in the state’s housing prices, said Thornberg. California home values increased 55 percent during the mid-1970s and by 45 percent during the last-1980s. Meanwhile, in the last four years the statewide median home price has increased by more than 80 percent. “It’s completely off the charts right now,” he said.