Mortgage rates sink to record low

By Holden Lewis • Bankrate.com

With mortgage rates near record lows, this is a swell time to refinance as long as you’re a fan of “I Love Lucy,” because “you’ll have some ‘splaining to do.”

The benchmark 30-year fixed-rate mortgage fell 3 basis points this week, to a record low 4.29 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week’s survey had an average total of 0.41 discount and origination points. One year ago, the mortgage index was 4.5 percent; four weeks ago, it was 4.41 percent.

The benchmark 15-year fixed-rate mortgage fell 2 basis points, to 3.42 percent. The benchmark 5/1 adjustable-rate mortgage fell 2 basis points, to 3.05 percent, and the benchmark 30-year, fixed-rate jumbo rose 2 basis points, to 4.85 percent.

Bankrate began gathering weekly mortgage rate data 26 years ago, on Sept. 25, 1985. This week’s benchmark rates on the 30-year fixed, 15-year fixed and 5/1 ARM are record lows since that time. The previous records had been set the week before.

Sunset Bridge 14-Day Reconstruction Closures and Detours Starts Friday – Get ready

Head’s up….

Starting Friday, September 30, 2011 the EB Sunset Bl to SB 405 on ramp
will be closed 24/7 for intersection reconstruction. The traveling public
should anticipate delays and is encouraged to plan ahead when traveling
through an active construction zone. For additional information please
see attached notice.

I-405 Sepulveda Pass Improvements Project
Metro Community Relations – Sunset Segment

SPECIAL TRAFFIC ALERT – Monday, September 26, 2011

President Obama is set to visit the West Hollywood Area on Monday, September 26, 2011. Expect street closures and major traffic delays from 4:00 pm – 7:00 pm. As a result, San Vicente Boulevard from Melrose Avenue to Santa Monica Boulevard will be closed all day on Monday.

President Obama will be in the Los Angeles area on Monday, September 26, 2011, attending two separate events. One event will be held at the House of Blues in the City of West Hollywood and the second event will be held nearby in the City of Los Angeles . Expect street closures and major traffic delays throughout the afternoon and evening in the City of West Hollywood and surrounding areas. Please plan ahead to avoid any inconvenience. The City of West Hollywood has no additional information regarding the details of President Obama’s visit for security reasons.

Cultural Event at The Grove

Councilman Tom LaBonge and the City of Los Angeles will celebrate the 55th anniversary of America’s Sister Cities program with “SISTER CITIES CULTURAL DAY AT THE GROVE” on SUNDAY, AUGUST 21, from 1pm to 5pm at THE GROVE AT FARMERS MARKET.
Over 50 musicians, dancers, drummers, and singers from eight of the twenty-five Los Angeles Sister Cities will perform for free on the stage in The Grove’s outdoor park.
Participating cities include Beirut, Lebanon; Berlin, Germany; Eilat, Israel; Guangzhou, China; Jakarta, Indonesia; Lusaka, Zambia, Mumbai, India; and Taipei, Taiwan.

Sunday, August 21, 2011
1pm to 5pm
The Grove at Farmer’s Market
Fairfax & 3rd Street
Free Admission.

Cultural Day at The Grove

Search for Homes

www.HouseOnTheHills.com

Cooling Stations

The City of Los Angeles will utilize public facilities as cooling centers for the public, particularly in the hottest areas of the San Fernando Valley which has been hit hardest by this latest heat wave. Those who have been hit by power outages during the most uncomfortable hours of the days might want to consider cooling off at these public facilities, too. The following centers are scheduled to be kept open until Wednesday, September 29, from 9 a.m. to 9 p.m.:

* North Hollywood Senior Citizen Center, 11430 Chandler
Boulevard, North Hollywood
* Sepulveda Rec Center/Mid-Valley Senior Citizen Center, 8801
Kester Avenue, Panorama City
* Sunland Park Senior Citizen Center, 8640 Fenwick Street, Sunland
* Sylmar Recreation Center, 13109 Borden Avenue, Sylmar
* Van Nuys-Sherman Oaks Senior Citizen Center, 5040 Van Nuys Boulevard, Sherman Oaks
* Wilkinson Senior Citizen Center, 8956 Vanalden Avenue, Northridge

Residents should keep in mind that other public facilities, such as recreational centers, libraries and senior centers, can offer respite from the heat during regular business hours.
More information regarding City facilities can be located at:
-3-1-1
-(213) 228-7000 to locate a library or visit lapl.org
-Visit the LA Parks Site for a list of Senior Citizen Centers
-www.laparks.org for specific hours of operation for Recreation
and Parks facilities.

9/11 Memorial on Saturday in North Hollywood Park

Join the 9th Annual 9/11 Memorial Ceremony at North Hollywood Park’s Memorial Tree Grove & Meditation Circle, 11455 Magnolia Blvd, Saturday, from 5 p.m. to 7 p.m. The evening will feature a candlelight vigil and special guest speakers who lost love ones in the tragedy. For more details, contact Sharyn Romano at 323-962-2163. *Parking available on the north side of Magnolia.

City of LA to pass sidewalk repair liability to property owners.

Los Angeles Public Works Committee – Municipal Code Section 62.104

In the mist of a budget crisis the City of Los Angeles is proposing to remove its responsibility of repairing broken sidewalks and place the responsibility directly to the owner of the property.
Click here for LA Times article.

The State of California Improvement Act of 1911 provides cities the authority to require property owners to effect repairs to sidewalks abutting their property (California Streets and Highways Code.) Should the property owner fail to effect such repairs, City forces are authorized to make the repairs and the property owner is assessed for the cost. However, Los Angeles Municipal Code (Section 62.104, Ordinance No. 146.040 effective July 3, 1974) exempts homeowners from the responsibility for sidewalk repairs caused by city owned trees and places responsibility for these repairs with the City’s Department of Public Works. Special Projects Division

What this means to property owners is higher insurance costs, additional repair costs, legal liability for pedestrians who injure themselves, etc.

Please join the efforts to REPEAL this proposed ordinance by downloanding this letter: Repeal Letter LAMC Sec 62 104 – BSS May 2010

Print a copy and mail to:
Los Angeles City Hall – Councilmember Richard Allarcon
200 N Spring St Room 470
Los Angeles, CA 90012

Los Angeles City Hall – Councilmember Tony Cardenas
200 N Spring St Room 455
Los Angeles, CA 90012

Los Angeles City Hall – Councilmember Greig Smith
200 N Spring St Room 405
Los Angeles, CA 90012

Los Angeles City Hall – Councilmember Paul Koretz
200 N Spring St Room 440
Los Angeles, CA 90012

Los Angeles City Hall – Councilmember Paul Krekorian
200 N Spring St Room 425
Los Angeles, CA 90012

You may also voice your concern via email:
Councilmember Richard Alarcon: councilmember.alarcon@lacity.org
Councilmember Tony Cardenas: councilmember.cardenas@lacity.org
Councilmember Greig Smith: councilmember.smith@lacity.org
Councilmember Paul Koretz: paul.koretz@lacity.org
Councilmember Paul Krekorian: councilmember.krekorian@lacity.org

Thank you for your support.

Los Angeles’ First Solar Park Lights

Tom and Ed Begley, Jr. will flip the switch to illuminate the first solar-powered lights in a City of Los Angeles park. The public is invited to the dedication ceremony for the new lights on Tuesday, September 29 at 6:30 p.m. in North Hollywood Park, 11455 Magnolia Blvd., North Hollywood, CA 91601. For more information, please see the attached flier.

New listing in La Crescenta

Open house Sunday, Sept 6th

3017 Alabama st, La Crescenta, CA 91214 $559,000
Comfortable and roomy 5BR/3BA home in award winning school district. Updated systems including copper plumbing, water heater, newer roof, doubled paned windows. Bathrooms and kitchen remodeled with granite counter tops. Garage converted to guest room with insulation, paint, and flooring. Plenty of parking available in drive way. Good location near stores and other amenities. Buyer to verify sqft.