remember that these are figures for the entire state, not your local market.

Posted via email from tracyslarealestate's posterous

Recently our government announced that it will stop purchasing Mortgage Back Securities (MBS) at the end of March of 2010. That means there can be a rise in mortgage rates in our near future, couple that with the $8,000 1st time buyer tax credit and the $6,500 move up tax credit ending at the end of April 30, 2010. We may likely see fewer buyers and higher interest rates in our near future.

Buy Today

Purchase Price $662,000

Down payment 20%
Loan Amount 529,600
Rate 5.00% fully Amortized for 30 years
Mortgage payment $2,843.01
Home Owner Insurance $66.20
Property Tax (L.A County) $ 689.58
Total PITI $3,598.79
Or Buy Tomorrow

Purchase Price $575,000

Down payment 20%
Loan Amount $460,000
Rate 6.50% fully Amortized for 30 years
Mortgage payment $2,907.51
Home Owner Insurance $56.88
Property Tax (L.A County) $598.96
Total PITI $3,563.35

The above scenario is based on net income of $8,000 and 45% overall debt to income ratios with credit scores above 720. It is strictly meant for illustration purposes. Rates are subject to change without notice

Lender Information
Edward Uriarte * Loan Consultant
(626) 8172449 dir. * (626) 4622270 Cell
This email address is being protected from spambots. You need JavaScript enabled to view it.

Remember, you have until April 30, 2010, to open escrow on your first time buyer purchase or your long-term owner sale/purchase to qualify for the federal housing tax credits. For all the details, go to www.federalhousingtaxcredit.com .

Thank you, everyone, for your thoughts and help to find the lost dog, Brownie. The good news is, the dog was found and is back home with his loving family!

This is a group that deserves your support. In the face of decades of often overwhelming negative press about Highland Park, this dedicated group of residents has held workshops and tours, published brochures, books and even movies in the pursuit of educating people about preserving their historic homes and neighborhoods. In fact, they offer walking tours every other month. Check it out. You will be amazed by the history and architecture you will see.

You might not know that Highland Park was the first suburb of the City of Los Angeles, formed in the late 1800s. First there were a number of large lovely Victorian-era homes and during the early 1900s the predominant style was the Craftsman bungalow. From the 'Professor's Row' shingle-sided beauties along Sycamore Terrace near where the original Occidental College campus stood, to block after block of a dynamic mix of Spanish-influenced, English or Craftsman-style homes throughout the area between Figueroa and York Blvds, the stock of interesting character-laden homes that still stand is stunning.

HPHT was instrumental in establishing in Highland Park the first HPOZ (Historic Preservaton Overlay Zone) in Los Angeles to include both commercial and residential structures. It's also the largest HPOZ in the City of LA, over 2500 structures are included. If you own a contributing structure to an HPOZ, you have a strong case to qualify for the Mills Act, which can save you big bucks on your property taxes.

For all the details, check out:

• http://www.hpht.org
• http://www.preservation.lacity.org/hpoz/la/highland-park
• http://www.laconservancy.org/neighborhoods/hpozs.php

But back to HPHT. If you are a supporter of historic preservation or like nice Craftsman homes or are a resident of Los Angeles, or if you are just moved by the pluck and spirit of this dedicated group, go to their website and donate some money. Better yet, join up and become a part of what they do.

Why am I talking so much about preservation and historic architecture? Because a well-designed historic home is worth more preserved than it is 'remodeled.But that's a subject for another blog.

Over 100 artists in 51 locations all over Highland Park, Eagle Rock, and Mt. Washington opened their homes and studios to hundreds of ticketholders on a beautiful, sunny Sunday, November 22, this year. No one can possibly do the whole tour—it’s that big! So we go back, year after year—this was the 17th year—finding new treasures, new artists, new studios. There’s always a discovery of one kind or another.

My discovery this year was The Recording Kitchen, a music recording studio in the former Ray’s Market at the corner of Avenue 50 and El Paso in Highland Park. This is hidden LA, folks. The security gates across the front were open just enough to allow us to pass through the doorway, but inside was a whole new world. Friendly, smiling Roxy Sosa, her family, and Chris, the art restoration specialist, welcomed me, offered me refreshments, and showed me through the whole facility. Who knew this was here? Go to http://www.RecordingKitchen.com for details about their facilities and the variety of classes and services they offer.

I took one of the 4 shuttle busses in the afternoon which was a wonderful way to see several studios. But it’s not just the art and the studios, it’s the homes, the surprising variety of people, many of whom have lived in northeast Los Angeles for decades, that offer the treasures of discovery.

It's Halloween!

Check out all the details for a completely different Halloween experience at