Timely Real Estate News…………………………………………………. 1 May 2009
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405 widening project gets go-ahead….
The $1 billion widening project of Sepulveda Pass is moving forward even though more than 60% of the funds required to finish the project are not available because of the state’s fiscal crisis. According to the Los Angeles Times, the Metropolitan Transportation Authority is allocating approximately $372 million in funds from a variety of federal stimulus and other funds. to begin the project the state is going to attempt to sell the bonds to cover the balance of $638 million. The MTA directors approved the first phase of the project which will include designing and relocating utilities that might impede the widening of the freeway, as well as limited construction activity. In the interim, the State is working on selling the bonds to finance the remainder of the work. The plan calls for adding a carpool lane on a 10-mile stretch of the 405 northbound between the 10 and 101 freeways to encourage more people to ride-share, ultimately easing congestion in the area.
There are a variety of scenarios in the event state funding is delayed — one idea, according to the Los Angeles Times, is for the MTA to temporarily purchase the bonds and carry the debt, thereby insuring the project will move forward in an efficient manner. State Treasurer Bill Locklyer recently announced the completion of a general obligation bond sale after they had been frozen because of the state’s fiscal problems.
Sepulveda Blvd Reverse Lane Project — On another important traffic issue in the Sepulveda Pass is the previously announced “Reverse Lane” project which has now been modified. The original concept was that the reverse lane was going to be from the Mulholland ‘tunnel’ in the Pass to Wilshire Boulevard, but the new ‘plan’ is to limit the reverse lane only in the Mulholland Tunnel — with signals on 1,500′ on each side of the tunnel advising drivers of the lane change. This project is being funded by a variety of sources.
Contest Winner — Ellen (“Ellie”) Doenen
A native of Cincinnati, this Mountaingate resident is a graduate of Boston University and received her Masters in Business Administration from Boston College. She served as the Vice President of Marketing of National Cinema, one of the largest movie theater chains in the United States. Along with her husband Bill, they lived in Mountaingate for the past 12 years. They love to travel, and Bill is a devout golfer (with a low handicap to match his devotion to the sport). Congratulations on the How Well Do You Know your Architects Contest…and the $100 Gift Certificate to the Hotel Bel Air. Hope you and Bill enjoy your special evening.
The Hyphen-Lady Returns…..with another good suggestion
We have a “mystery reader” — I call her the “Hyphen Lady”. Many issues ago, a reader sent me a lovely note stating that she liked the SchifferLine but also had a comment — Bel Air should be hyphenated….”Bel-Air”. Given that there seemed to be no general consensus, I debated this for quite some time, but the Hyphen Lady was insistent. We checked with a variety of sources, and concluded that even though Bel-Air was spelled with and without a hyphen, we agreed to hyphen it (…the customer is always right). Well, we heard from the Hyphen Lady again, thanking us for a great contest (How Well Do You Know The Architects) but she wanted us to list the correct answers….and so here there are:
Photograph #1 — Architect #2 (John Lautner – Chemosphere House)
Photograph #2 — Architect #6 (Craig Ellwood — Case Study #16)
Photograph #3 — Architect #3 (Frank Lloyd Wright — Hollyhock House)
Photograph #4 — Architect #1 (Green and Green — Gamble House)
Photograph #6 — Architect #4 (Rudolph Schindler – Kings Road)
Photograph #6 — Architect #5 (Richard Neutra, credited to his son, Dean- Tree Top House)
Thank you all for participating and again, congratulations again to Ellie Doenen. We will have another SchifferLine Contest — this time, focusing on famous Southern California gardens. So start studying as this one may not be as easy!
Waiting for the ‘other shoe’ is about to drop….be aware
One of the last acts of the previous administration was to request that the banks hold off putting homes that would normally be put into the foreclosure process. I understand that there are a number of homes — worth quite a bit of money — that are in this limbo state. From all reports, it appears that now these homes are going to be placed back into the foreclosure process. This means, they will be on the market. How does this impact home prices in our community? Frankly, it is too early to tell. While we have been somewhat protected by our location and unique financial stability of our communities, I know there are homes that are now in the pre-foreclosure process (a three-step process). These homes could — and most likely will — impact the value of homes around them. So, please stay tuned. I will be giving you a complete MLS update in the next SchifferLine, but those stats will not reflect the information I was just sharing with you. What it will show is the activity for the last month as compared to the same time period last year.
However — let me be perfectly clear…..Sellers who understand that pricing their property properly are selling their homes quickly. There are many qualified buyers out there who are looking for the assets our communities offer — we have demand for our neighborhoods, so don’t get discouraged. Again, I don’t want to sound like a broken record, but the best advice I can give you is to make sure you retain an experienced, qualified Realtor — like me! — who knows your neighborhood and that you work with that agent and properly position your property to sell, condition, price and marketing.
So, what’s hot? Thought you would never ask. Los Feliz, Pasadena and San Marino! We heard this news at our last Previews (agents who specialize in marketing high end properties) meeting two weeks ago. While the number of sales in these two areas are up, I don’t know what type of prices were reflected in this large jump in sales. We are seeing more sales overall on the Westside — so that’s good news. Like I have been saying, there are silver linings every month. If you like roller coasters, you’re having a great time.
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Uses for salt
Salt in the wrong place can be devastating to the environment – such as dry land salinity; or contamination of water supplies. But it’s also an incredibly useful substance – in fact, our bodies depend on external sources of salt for survival.
According to the Salt Institute, it has more than 14,000 known uses and Americans each use more than 16 tons of salt during over their lifetimes. Only a small percentage of that is ingested. The single major use of salt is on roads for deicing purposes – again, deicing with so much salt has its issues.
Salt as a polish
By mixing salt and vinegar into a thick paste, it can be applied to brass silver and copper as a polish. Use a soft cloth to apply and buff, then rinse thoroughly in water and dry well.
Cleanups
This is one I learned as a kid – for oil and egg spills, cover the area with salt – it’s a lot easier to pick up.
Salt drain cleaner
Equal quantities of salt and hot water poured down a drain can help get rid of nasty smells and dissolve grease, plus help slow future buildup.
Scouring pots and pans
Pour rock salt onto greasy cookware before scouring to help cut through the grease
Removing tea and coffee stains
To remove tea and coffee stains on cups and decanters, sprinkle salt onto a sponge and use a circular motion when rubbing over the stains.
Sterilizing sponges
Kitchen sponges are the perfect breeding ground for all sorts of nasty bacteria. By soaking a sponge in a heavily saline solution, it will help kill these bacterial.
Pest deterrent
Where ants are frequent, pour a line of salt to prevent them from crossing.
Earth friendly weed killer
A mix of 1 part salt to 3 parts boiling water can be poured directly onto weeds to kill them.
Smelly cutting boards
A smelly cutting board simply means bacteria are present – and this is not only a whiffy problem, but a health issue. Bacteria are killed by salt, so by rubbing salt into your cutting board, let it sit for a little while and then rinse, your board will smell fresh and be bacteria-free!
Fire extinguisher
Keep a box of salt close at hand as an emergency fire extinguisher for grease fires. While it shouldn’t replace a proper fire extinguisher, it makes for a good backup.
Iron cleaner
Over time, irons pick up bits of junk that cause them to stick when you iron your clothes. To remove the gunk buildup, sprinkle salt onto a sheet of paper and then run the iron over it. Ensure you use a shot of steam to clean the jets after doing this and also wipe down the plate with a damp cloth once it cools.
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Enjoy the Spring. I will talk to you soon.
