Los Angeles Real Estate By Carrie Bryden

Pending California Real Estate Sales Bode Well For Spring

By Inman News

Pending home sales were up 13.6 percent in California from December to January, with distressed properties accounting for more than half of pending transactions, according to a new index compiled by the CALIFORNIA ASSOCIATION OF REALTORS®.

C.A.R.’s pending home sales index surveys more than 70 REALTOR® associations and multiple listing services, and uses 2008 sales levels as a benchmark. An index reading of 100 is equal to the average level of sales contract activity in 2008. The index climbed to 93.6 in January, up from 82.4 in December, but down 2 percent from a year ago, CAR said, noting that pending sales typically rise after seasonal slowdowns in November and December.

“January’s pending sales should be reflected in higher existing sales activity in February and March and serve as a precursor to the spring home buying season,” C.A.R. President Beth L. Peerce said in a statement.

Distressed properties — short sales and bank-owned (REO) properties — accounted for 54 percent of pending sales statewide, up from 50 percent in December but down from 56 percent a year ago.

Distressed properties accounted for 70 percent or more of all sales in Kern, Sacramento, Riverside, San Bernardino and Solano counties.

REO properties accounted for 32 percent of pending sales, up from 30 percent in January but down from 37 percent a year ago, C.A.R. said.

Short sales, which accounted for 19 percent of pending sales in January 2010 and 20 percent of sales in December, represented 22 percent of last month’s pending sales.

Looking at all sales of single-family homes that closed escrow in January, the median price was $278,900 — down 8.6 percent from a revised $305,020 in December and down 2 percent from a year ago.

But at $265,500, the median price for short sales closing escrow in January was 28 percent less than the $367,150 median price for “conventional” properties. The median price for REO properties, at $198,000, was 46 percent less.

949 EL PASO DRIVE

New to the market today is this super cute California Bungalow redux. Located in 90042, yet in the Mount Washington Elementary School boundary. Great value for those looking for Mt. Washington schools without the huge price tag. Lots of vintage charm and warmth in this one.

$449,000~ 3br 2 ba ~ 1000 sqft interior~ 6,664 sqft lot

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[idx-listing mlsnumber=”11-509865″ showall=”true”]

Vote! Saturday, 1/29 for Central Regional High School No. 13’s Academies!

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Please cast your vote Saturday morning between 9am-3pm for 5 of the 6 proposed academies to be provided at the new Central Regional High School No. 13 in Glassell. This school will relieve overcrowding at Marshall High, Eagle Rock High and Benjamin Franklin High Schools and is scheduled to open its doors this August for the 2011/2012 school year. Voting will take place at Irving Middle School.

This school is very exciting. Designed by HMC Architects of Pasadena, this school is set to be LAUSD’s greenest school. So exciting! The school will feature water management and energy efficient systems, the use of native plants to reduce the need for irrigation, as well as water-saving lavatories, and the use of recycled materials. The project will also feature glass with a high-performance tint.

Central Regional High School consists of classroom buildings and several shared buildings including a performing arts building, gymnasium, food services building and an administration building.

Craftswoman House: “Unveiled”

Looking for something to do this weekend? Craftswoman House is the place to be. This upcoming exhibition looks fantastic and I can’t wait to see these artists’ work. Our community is so lucky to have artist, Cindy Rehm to call our own. She relocated here from Baltimore, Maryland nearly 2 years ago to be with her husband. Please come out and support our new, talented neighbor.Unveiledinvite

From the Craftswoman website:

Craftswoman House will open her doors with the group exhibition Unveiled, a show that features works by six west-coast artists who explore feminist content. The exhibit includes works by Launa Bacon, Ursula Brookbank, Wendy Kveck, Freya Prowe, Cindy Rehm, Angela Simione.

Unveiled coincides with the 39th anniversary of Womanhouse, the first public exhibition of feminist art organized in January 1972, by Judy Chicago and Miriam Schapiro. The original collaborative project was presented in a deserted mansion in Hollywood, whereas the new venue is a 1924 Craftsman House located in the historic Orange Heights tract of Pasadena.

Unveiled includes painting, drawing, video, and site-specific room installations created in memory of Womanhouse. The library will be transformed into a haunting underwater environment with Brookbank’s The Splendor Trap. Through a process of staining and accumulation, Rehm will create The Curse, her response to Chicago’s Menstruation Bathroom. The kitchen will highlight Kveck’s Meateater, which features a reclining woman laid out like a body, readied for dissection. Bacon will present her video I Sat Beauty on my Knees; Found Her Bitter, Therefore I Injured Her in the study where the work was performed and filmed. Simone and Prowe will occupy the living room and hallway with their paintings. The garden will also feature installations by Bacon and Brookbank.

Tour Mission College’s Triple Platinum Buildings

On Saturday, 1/29 @ 2pm, the USGBC’s LA division will offer a free tour to examine the planning, design, and construction of the three LEED Platinum Buildings at Mission College facilitated by Quatro Design Group and the Los Angeles Community College District. Along with an overview of Los Angeles Mission College’s sustainability initiatives and LEED certified projects completed and on the boards; this event will be a unique opportunity to visit three buildings at various stages of construction that are currently on track to receive platinum certification.  The design teams, contractors and owner representatives will share their perspectives and field questions on the common and unique sustainability strategies employed between the projects and touch on how alternate project delivery methods such as design-build and the incorporation of building information modeling (BIM) have impacted the process. Register here.

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