Remember to: COUNT ON CAROLE FOR ALL OF YOUR REAL ESTATE NEEDS!!!

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The SchifferLine

Timely real estate news from Carole Schiffer                                        23 October 2008 _____________________________________________________________________________________________________________________

Hot off the presses....fire comes too close for comfort

As I am writing this, helicopters are flying overhead pouring water over the embers still smoldering on the hillsides in Sepulveda Pass. While it appears as of this writing that we're out of the woods on last night's fire....to be honest, it scared the hell out of me.

Like many of my neighbors in Bel Air Crest -- we had a front-row seat to the fires crawling up the canyons in and around Mountaingate. I knew many of my friends and clients were in danger of losing their homes and at 1:30 in the morning, I spoke with several to make sure they had gotten the word about the fire. Some, like myself, were in the process of packing and waiting for the evacuation order and trying to figure out where to go...some were able to leave and stay at local hotels.

No matter how used we get to reading about and seeing television news about fires in Southern California, it is not the same as actually looking out your bedroom window and seeing flames leaping up nearby steep mountain slopes, only steps away from your own home. After packing up my valuables and waiting to evacuate, I drove down to Sepulveda at the entrance to Bel Air Crest -- an eerie site at 2:30 in the morning. Fire trucks....firemen waiting to be placed into action.....and my fellow residents gathered to see what was going on. Channel 5 (KTLA) news was already on the scene, and they interviewed me...imagine waking up and seeing yourself on TV with no make-up....I did! And got scared, again!

Fire prevention is critical to all of us living in the mountains above Los Angeles -- it comes with this beautiful territory. On August 28, I sent out an important notice from the Los Angeles Fire Department -- who has done an outstanding job in keeping this blaze to a minimum. The lesson: Be vigilant about your own fire prevention around your home.

Please read -- and most importantly, take care of yourself:

It's Fire Prevention Awareness Time.... (appearing August 28, 2008)

On the morning of November 6, 1961, fire swept across our hillsides....from Stone Canyon to Mandeville Canyon....consuming nearly 6,094 acres, destroying 484 homes. The Bel-Air/Brentwood fire was one of the worst in Los Angeles’s history according to the LA Fire Department. Since this landmark disaster, the City of Los Angeles and residents have taken steps to insure this never happens again. Through new fire regulations, improved hillside fire trails, fire-resistant construction and design, and constant monitoring by the LAFD, we have been fortunate in not seeing this level of fire rage across our communities. We are just entering the most dangerous period of the year for fires. The LAFD is vigilant in protecting our homes and mountains -- but they are encouraging all homeowners to take some very simple, life- and home-saving steps so that you can avoid any disaster by fire. As reported in the Los Angeles Times, these are new standards that were imposed for new construction by State of California in 2008. While we certainly cannot rebuild our homes, we might take some suggestions as to how we might better protect ourselves.

1) Eaves must be enclosed and materials must be ignition resistant;

2) Install dual-pane windows -- one must be tempered glass;

3) Deck supports must be enclosed to within six inches of the ground; must be of ignition-resistant material;

4) Roof fascia and sheeting must be fire resistant; and

5) Defensible space must be free of brush or debris and must extend 100 feet or to the property line;

6) Purchase some of the gels that are available to be sprayed on your home if there is a fire in the area, and there is approximately one hour before it would reach your property. There are a few products on the market that do this as well as an insurance company that offers this service, I personally have Barricade Gel which can be purchased through their website…. Barricadegel.com

For your information, here at Bel-Air Crest our clearance of the slopes is 200’ rather than the required 100 feet just to give ourselves that extra protection. We have also discovered that the majority of the fires that happen around here are caused by cars that roll off the freeway, onto the brush… so with Cal Trans’ permission, we have installed a concrete shoulder as a barrier as an extra means of protection. I encourage all of you to beware of the fire dangers in our area and to protect your home.

Remember to: COUNT ON CAROLE FOR ALL OF YOUR REAL ESTATE NEEDS!!!

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The SchifferLine

Timely real estate news from Carole Schiffer                                    15 October 2008 _____________________________________________________________________________________________________________________

Location, location, location -- it's working

The oldest mantra in real estate is location, location, location. But it takes on new meaning in today's chaotic economic times. Why is that? Because, quite frankly, the location of where we live is the best insurance policy you can have to keep your property value as high as possible. Sure, there are troubling signs in our midst, and perhaps, some of the only good news one can find: gas prices are dropping, as low as $3.35/gallon. But when you realize we live in one of the most desirable locations on the Planet, one can take comfort in the relative security that our community assets provide -- making the Westside the envy of the world.

Even though overall sales volumes are down from 2007, in various areas they are improving slightly each month (read below)....and median sales prices continue to fluctuate from month to month in each of the four communities I report to you about....but overall, the prices are generally holding their own over 2008.

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I want to pass on a few inspirational words of wisdom from our stellar leader, Betty Graham, who is President of the Greater Los Angeles Coldwell Banker Company....stated that "...Buyers need to know there are home loans available today, and with full documentation and an appropriate down payment, the loans are very attractive. And more importantly....the Greater Los Angeles Coldwell Banker Company opened 85% more escrows in September 2008 than in September 2007 and we closed 16.9% more escrows in September 2008 than in 2007." That is great news.

Our Westside has always been its own 'best news' -- we tend to run counter to negative national and regional real estate trends -- the #s prove that out. Our foreclosures are considerably lower than anywhere else in the country, and while home sales volumes have dipped by more than 50% in many parts of the United States, there is not a community that I cover that is close that number.

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I have always made it my mission to present you with the monthly Multiple Listing Service sales information; because it is the only reliable source of real estate sales we have for our communities of Beverly Hills, Beverly Hills Post Office, Bel-Air, and Brentwood. The MLS stats give us the most accurate snapshot of what has gone in these specific areas for the past month and for year-to-date performance.

We have both good and bad news for September 2008. Beverly Hills and Brentwood both showed median sales price increases for this September over September 2007 -- Beverly Hills was up just 1% but Brentwood was up 33%. There was (temporary) bad news for Beverly Hills Post Office (down 57%) and Bel-Air (down 67%). In Bel Air for example, of the 10 homes closing escrow in September 2008, the sales prices on half of the homes were under $1 million, thus dropping the median average (compared to previous months where more higher-priced homes were sold).

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On a more positive note, the year-to-date MSP (medium sales price) -- a more accurate reflection of real estate home values over the past year, we find that Beverly Hills MSP for the year through September 30 was up 3%, Beverly Hills Post Office was down 16%, but both Bel-Air and Brentwood are only off 2% year-to-date.

Sales volumes continue to be improving slightly for the four communities -- down to 33% over the previous year-to-date totals (compared to being down 38% for YTD through August 2008). Days on market is another key indicator and homes are spending more days waiting for a qualified buyer. Days on market for Beverly Hills increased from 45 to 53 days in September 2008 vs. September 2007; Beverly Hills Post Office actually went down from 115 days to 89 days for same period; Bel-Air jumped from 79 days to 164; and Brentwood went from 38 days to 51 days on market for September 2008. But these numbers, as well as MSP, tend to fluctuate from month to month.

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It tells us that our four communities are still suffering from the challenges found in other markets. We have some areas up, some down -- as it has been case since we have been doing the SchifferLine. There is a silver lining every month in our neighborhoods -- we're still here and enjoying the best of many worlds. But what is encouraging is the increased activity (transactions) in our business ....as Betty Graham has pointed out -- Coldwell Banker Greater Los Angeles Company is up 85% in transactions over last year -- and that is saying something. She further pointed out that if your home is priced correctly, there are qualified buyers out there....a point of view I have had since starting in this business.

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Disposable vs. rechargeable batteries

Disposable or dry-cell batteries are usually the alkaline type. They used to contain very high levels of mercury, but the amounts used have greatly decreased over the last couple of decades and some brands use none at all. Still, many do contain a small amount of mercury and given the massive waste involved should be avoided, or at the very least, recycled. In 2006, 40 billion disposable batteries were sold worldwide! According to the EPA, Americans purchase nearly 3 billion dry-cell disposable batteries every year.

Unfortunately, it can be difficult finding places that will actually recycle disposable alkaline batteries. Many recyclers separate them from rechargeable and they do wind up in landfill anyway.

A service I came across for alkaline (and rechargeable) battery recycling is Big Green Box, which is just a box you can dump batteries into and when it's full, send it back to the recycler. You can purchase a box for your home or office, or utilize one that's in one of the participating stores mentioned on their site.

Button batteries are a problem as a great deal of metal is used for their comparatively small size and they can contain mercury, silver, cadmium, lithium, or other heavy metals as their main component. Thankfully, due to the increasing price of raw materials, these are a desired recyclable item.

Rechargeable batteries used to be quite environmentally toxic beasties, containing cadmium (NiCad batteries). These days the most commonly sold batteries are Nickel-metal-hydride (NiMH). NiMH batteries have a better life and performance than Nicads and don't contain as toxic heavy metals, so they are a "greener" choice.

You can also buy rechargeable alkaline batteries, but these perform poorly and will cost you more in the long run - and you'll create more waste. Regardless of the lower environmental toxicity of today's rechargeable batteries, they should definitely be recycled rather than thrown in the bin to wind up in landfill.

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By the way, my great listing in Bel Air Crest is still available.. It is a 6 bedroom, 7.5 bath custom home with 5 fireplaces, including 3 in the master suite, library/office, family room, big rooms with wonderful high ceilings, pool, spa, and closets a dept store would envy. Price $5,295,000.

Remember to: COUNT ON CAROLE FOR ALL OF YOUR REAL ESTATE NEEDS!!!

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The SchifferLine[

Timely real estate news from Carole Schiffer                                   15 September 2008 _____________________________________________________________________________________________________________________

Where does 'Auntie' start? USC, ranked #1, again, stomps Ohio State, and my alma mater, UCLA is, well, embarrassed beyond belief. I'm not use to intra-family rivalries, but when Morgan, my sister's beautiful and talented daughter opted for USC last year, I was thrilled she was coming down to Southern California from Vancouver, BC. And it's been a blessing. Morgan, who is pre-med, is delighted to be back in her dorm with three great room mates, and college life is still very much in front of her. Oh, sometimes, I do long for those college days of mine, but attending UCLA Extension classes always keeps me 'close to home.' Hopefully my Bruins will have a better rest of the season then last Saturday proved to be!

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Foreclosures -- it's not all talk

According to Wikkipedia…."A short sale is when a bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor." For example:

* A house is listed for $1 million; the loan is for $1.3 million; and the property is worth $900,000. What does one do? As the seller, there is a $400,000 spread between the current value ($900,000) and what is owed ($1.3 million)

. * Buyer offers $900,000 -- seller accepts that subject to approval of the bank.

* The bank, then, has to approve the sale of the property for an agreed-upon price, say $900,000. The bank, for example, can forgive all or a portion of the unpaid balance, $400,000. Many times there is a second trust deed involved as well.

* The percentage of “write off” by the holder of both liens is greatly determined by a number of things, but in general, the holder of the second does not fair as well as the holder of the first trust deed as they are the that is really “calling the shots”.

* There is no set standard as to what the banks will do for this type of transaction -- and it will depend on the seller's financial condition; bank's portfolio and financial position; the philosophy of the bank (some are more aggressive than others these days); what the comparables are for the area -- is there a chance the bank would do better by foreclosing on the property and selling it themselves, and/or does the seller have some cash to assist in making up some of the difference?

To get more information for you, I recently interviewed Holly Hanks, the Office Manager and Escrow Officer for West Coast Escrow, which is located in my Coldwell Banker office in Brentwood Court.

* According to Holly, she has handled 10 short sale transactions this year; has three currently and there were three this year that did not close escrow for a variety of reasons. Last year she had one short sale transaction in her office

. * While all of the properties are located in the City of Los Angeles, none of them have been in West Los Angeles. She stated that these short sales offer many financial benefits to both buyer and seller, "...but it can be a long process, from 30 to 90 days or longer. Everyone has to be patient in this process."

* These can be complicated transactions that can possibly have a number of negative consequences for the seller including tax consequences, and credit. Only about 15% of our (Coldwell Banker Greater Los Angeles’s Company) short sale transactions actually close escrow, that is how difficult they are to get through. It is also advised when you enter one of these transactions, particularly as the seller that you refer to professional counsel of either your accountant or attorney or both.

One of the key points Holly made was that it is important that the seller and the seller's agent have all of the negotiations worked out with the lender even before they put the property on the market. "That makes for a much smoother transaction," Holly stated. "Having a good agent who understands all of these short sale issues is critical."

It is not generally possible to have all of the terms agreed to before putting the property on the market, as the lender usually waits for a agreed upon price between a buyer and seller before they will agree to do a short sale, let alone the price that has been agreed to between the buyer and seller. All the more reason to work with an experienced agent who knows how to assist and guide you through “these rocky waters”. But remember, one needs to be long on patience and understanding to get through this process.

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Becoming an EcoBroker

In a further commitment to understand how we can help ourselves and our fragile planet, I have enrolled in a unique program -- EcoBroker Certification program. My goal is to offer professional expertise and knowledge to help all my clients have healthier, more comfortable and more cost-effective home ownership opportunities. Within the real estate industry, we are seeing more and more programs and products designed to help our environment. I look forward to keeping you all abreast of this comprehensive eco-friendly program.

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More Green tips for the kitchen

1. Hot stuff

Not ready to eat just yet? Instead of having the stove top going to keep it warm, wrap the pot up in a towel - this will help insulate it for quite a while.

2. Splurge on pots and pans

Resist buying cheap pots and pans - they'll cost you more in the long run. A good sturdy, thick walled set will last you a lifetime and while they take a little longer to heat up, the heat distribution is better and they'll also store heat for longer. Glass and ceramic pots and pans are said to be the most efficient.

2. Splurge on pots and pans

Resist buying cheap pots and pans - they'll cost you more in the long run. A good sturdy, thick walled set will last you a lifetime and while they take a little longer to heat up, the heat distribution is better and they'll also store heat for longer. Glass and ceramic pots and pans are said to be the most efficient.

3. The right pan for the job

If you can see the heating element or the gas flame is licking a little on the side of the pot or pan, it's too small and much of the heat is being wasted.

4. Keep the door closed

How's your oven door glass looking? It's worth spending the time to keep it clean so you can see in rather than opening the door to check on the food.

5. Drop the pilot

Older gas ovens may have a pilot light that burns 24/7. While it's a small flame, over the period of a day, it uses a lot of gas. Consider switching it off (properly with the help of the gas company).

6. Water, water everywhere

Only use as much water as you need in a pot. Every extra drop requires more energy to heat and will increase the cooking time.

Observing some or all of the points above won't single handedly save the environment, but when millions of us take these small steps in conserving energy, it certainly adds up!

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Hot Off The Press!!

I have a great new listing in Bel Air Crest. It is a 6 bedroom, 7.5 bath custom home with 5 fireplaces, including 3 in the master suite, library/office, family room, big rooms with wonderful high ceilings, pool, spa, and closets a dept store would envy. Price $5,295,000.

Remember to: COUNT ON CAROLE FOR ALL OF YOUR REAL ESTATE NEEDS!!!

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The SchifferLine

Timely real estate news from Carole Schiffer                                     1 September 2008 _____________________________________________________________________________________________________________________

Looking for the silver lining....where art thou?

Amongst the dark clouds hovering over the nation's real estate market, one must always maintain an honest, but positive point of view of what lies ahead....by looking in the rear-view mirror. Our monthly Multiple Listing Service statistics, issued the first of each month, reflect a snapshot of what has been going on in the four communities I specialize in -- Beverly Hills, Beverly Hills Post Office, Bel-Air, and Brentwood. I look at several factors which indicate 'strength of the market' -- median sales prices, sales volumes, and days on market (DOM).

Over the course of the past several years, Beverly Hills has consistently performed well in all categories. For example, median sales prices for January thru August, 2008 (YTD), Beverly Hills is 7% higher than in same period in 2007. Bel-Air is up by 6% for same period. Beverly Hills Post Office is down 15% and Brentwood is down a modest 6%. But these communities often fluctuate -- some are positive, some are down each month.

When we look at sales price, this past month (August 2008) was not a good month (vs. August 2007) -- Beverly Hills' median sales price was down 41%, Beverly Hills Post Office was down 28%, Bel-Air was down 31%, but Brentwood was up 9%. And here is another twist on the MLS #s -- Beverly Hills Post Office was up 11% over July 2008 #s, while the other three communities were all down compared to July 2008. In doing a little research, there was one sale in August ’07 in Bel Air of $16,000,000 – so that obviously skews the percentage some… So, go figure.

Another key indicator is the sales volume for these communities -- comparing 2008 YTD total sales vs. 2007 -- these four areas are off by 32% -- which is a bit of an improvement since total sales for this year were down as much as 51% over 2007. Between the price of $1,000,000 - $40,000,000 in August there were 14 sales in Beverly Hills vs. 10 in ’08, 12 in Beverly Hills Post Office vs. 4, 19 in Bel Air vs. 4, and 13 in Brentwood vs. 4. Days on Market -- an average that tracks how long sold homes have stayed on the market before closing escrow -- were average for Beverly Hills and Bel-Air -- in the 60-70 day range, but Beverly Hills Post Office jumped from an average of 143 days in 2007 for August 2007 to 224 DOM for same period in August 2008. Bel-Air went from 56 DOM in 2007 to 142 in August 2008.

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So where is the silver lining?

Two out of four areas are up over last year for median sales price YTD (Beverly Hills and Bel Air)....Brentwood is up for August 2008 (vs. August 2007), and Beverly Hills Post Office is up over the previous month....so there is a silver lining on each area's cloud -- and so perk up, folks, we're still doing amazingly well in spite of a soft market. Could we do better? Absolutely, and I'm doing every thing I can to improve our market and move property for my clients.

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When you combine all four communities total real estate sales are off by a large margin (32% over 2007 for the year) no matter how you slice the statistical pie. First Republic Bank issues their quarterly Prestige Home Index which is based on a portfolio representing a cross-section of homes valued at $1 million or more (based on a baseline in 1995). For each home in the portfolio, values of properties were traced back to 1985 using a regression analysis and then calculated for each year as well as for the two quarters of 2008. For each home, a market evaluation was performed for each time period taking into account repeat sales, comparable sales, and characteristics such as size of house. The Index for the 2nd quarter of 2008 show that Prestige Home Index was $2,375,119, off 3.8% from its highest point of just one year prior -- June 2007 -- of $2,468,357. Common featur

In comparing the sales volume from July ’07 to July 08 in my Coldwell Banker Brentwood Court office -- volumes are down by just 12%.

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My observation is that if a home seller wants the asking price....the home must be in perfect condition, otherwise buyers are likely to either submit low-ball offers or walk away. Maximizing your home potential's value in today's market requires a skilled agent wise in today's market conditions. Knowing how to properly position a home for sale in a challenging market is something I've been doing for the past two-plus years. And I continue to thrive in this market....so if you need a no-obligation review of your home's potential, please give me a call.

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Over the 20-plus years that I have in the real estate industry, I have had the privilege of serving clients throughout California This is a very broad collection of wonderful neighborhoods, from the glitz and glamour of Beverly Hills to the relaxed, out-of-the-way Malibu seaside community. From the quaint areas of Mar Vista and Culver City to the waterways of Marina del Rey and the canals of Venice. From Orange County to San Diego. I have served the Santa Monica and the Pacific Palisades communities for as many years as I have been selling real estate as well. So, if you are in need of real estate advice anywhere in the West Los Angeles region -- or beyond -- from someone who has spent 'decades' here -- then I am here to serve your needs.

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Saving Energy when cooking

We do use a heck of a lot of energy when cooking - think about how long it takes to bring a pot of water to boil on the stove - turned up full blast, it's chewing around 2400 watts per hour. While there may not be noxious fumes pouring out of your kitchen, they are produced elsewhere; for example, where your electricity is generated. Coal fired electricity generation is a major contributor to carbon dioxide emissions; the main culprit causing climate change. There are some ways to work around the inefficient appliances in our kitchens; here's a few tips

1. Cover up

Where possible, cover up your pots and pans. This will help your food to cook more quickly and generates a higher temperature allowing you to turn down the stove.

2. Taking the heat off

Instead of turning off the stove when the food is done, experiment a little with switching it off just before the food is cooked. An electric fry pan can be switched off a minute or two earlier, and oven up to 10 - 20 minutes depending on how well it's insulated and sealed. It may not sound like a huge saving, but particularly with electric stoves, the dollars will add up.

3. In the raw

Experiment a little more with raw foods. You'll not only save electricity and gas, but nutrients which cooking destroys.

4. Be prepared

Always ensure your ingredients are prepared as much as possible for turning on the heat.

Remember to: COUNT ON CAROLE FOR ALL OF YOUR REAL ESTATE NEEDS!!!

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The SchifferLine

Timely real estate news from Carole Schiffer                                        15 August 2008 _____________________________________________________________________________________________________________________

I can tell you that watching the 2008 Olympics in Beijing reminds me of my wonderful trip there last year when I spent three weeks traveling throughout the country. Such a fascinating country -- the people are so warm and hospitable...the landscape so spectacular and different from here....but it is the pageantry of the Olympics, athleticism, and beauty that draw me to the Olympic telecasts. What continues to impress me are the stories of the individual athletes -- from all over the world – who have overcome adversity and challenges to reach for the golden rings of the Olympics.

The amazing “side” story, of course, is that much of China is also on display. We see many people from all over the world coming here to buy property on our Westside, but I wanted to see how the Chinese real estate market is doing. What I discovered was another spectacle of out-of-this-world market of Olympic proportions. According to Realty Times (April 2008)..."it is estimated that China's residential building boom accounts for more than 100 billion square feet per year. The boom began happening some time ago, as evidenced by an article having appeared in a 2007 Wall Street Journal edition that claimed that China's 20-somethings are finding it possible to purchase their own homes. It is estimated that homeownership rates are as high as 80 percent in the cities, topping U.S. numbers." Those are, indeed, amazing statistics. When I was there, we saw a number of developments of housing tracts similar to that which we have here, which in fact are being designed and built by Americans, from Orange County in fact. These homes are in many ways replicas of what we have here, large rooms, and all of the modern conveniences… We saw this in the outskirts of both Beijing and Shanghai. They are selling very well and quickly.

In Time magazine's online edition (8/16/2008), Time's Shanghai reporter told of the challenges of finding decent rental housing are Herculean -- prices are never static -- they even go up after you have a signed lease. Landlords and owners are aggressive and not bashful in telling you that what they quoted is no longer valid. China's economy and real estate market are on steroids, something that wouldn't be allowed in the Olympics.

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Foreclosures nationwide are up 55% (LA Times, 8/15/08) but again, the Westside is swimming up a different stream. Yes, the Westside is not immune to foreclosures, but data for January-June ‘08 show that foreclosures are actually down 22%, from 2007 and there were not that many. In 2008 (through June 30), there were 18 foreclosures (single family residences and condos) in the four markets I specialize in -- Brentwood, Beverly Hills, Beverly Hills Post Office and Bel-Air. Last year at this time, there were 22 foreclosures. A total of 133 owners received default notices this year, but 108 of these were “cured” either re-financed, sold, or payments caught up to date. The number for 2007 was 130 default notices. Once again, we're in our own little world -- a micro-climate that continues to buck national trends.

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On the morning of November 6, 1961, fire swept across our hillsides....from Stone Canyon to Mandeville Canyon....consuming nearly 6,094 acres, destroying 484 homes. The Bel-Air/Brentwood fire was one of the worst in Los Angeles’s history according to the LA Fire Department. Since this landmark disaster, the City of Los Angeles and residents have taken steps to insure this never happens again. Through new fire regulations, improved hillside fire trails, fire-resistant construction and design, and constant monitoring by the LAFD, we have been fortunate in not seeing this level of fire rage across our communities. We are just entering the most dangerous period of the year for fires. The LAFD is vigilant in protecting our homes and mountains -- but they are encouraging all homeowners to take some very simple, life- and home-saving steps so that you can avoid any disaster by fire. As reported in the Los Angeles Times, these are new standards that were imposed for new construction by State of California in 2008. While we certainly cannot rebuild our homes, we might take some suggestions as to how we might better protect ourselves.

1) Eaves must be enclosed and materials must be ignition resistant;

2) Install dual-pane windows -- one must be tempered glass;

3) Deck supports must be enclosed to within six inches of the ground; must be of ignition-resistant material;

4) Roof fascia and sheeting must be fire resistant; and

5) Defensible space must be free of brush or debris and must extend 100 feet or to the property line;

6) Purchase some of the gels that are available to be sprayed on your home if there is a fire in the area, and there is approximately one hour before it would reach your property. There are a few products on the market that do this as well as an insurance company that offers this service, I personally have Barricade Gel which can be purchased through their website…. Barricadegel.com

For your information, here at Bel-Air Crest our clearance of the slopes is 200’ rather than the required 100 feet just to give ourselves that extra protection. We have also discovered that the majority of the fires that happen around here are caused by cars that roll off the freeway, onto the brush… so with Cal Trans’ permission, we have installed a concrete shoulder as a barrier as an extra means of protection. I encourage all of you to beware of the fire dangers in our area and to protect your home.

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Green Tip

Home Composting Made Easy

Although today's generation has been equipped with the education and the ability to reduce landfill, we are still producing more landfill than necessary. Such landfill sites become danger zones, and not only for the generations ahead they also emit 10% of the poisonous gases that contribute to the greenhouse effect. They cause land instability, soil and groundwater contamination, odors, and fire hazards. In order to reduce the amount of waste that is left for landfills, more re-use and recycling of waste products is imperative.

An easy way to reduce household waste by 30% is a kitchen composter. The Max Air kitchen composter bin is a biodegradable bag that prevents the growth of fruit flies. All scraps can be thrown in this bin liner, and when full it can be added to your garden compost bin, where it will then begin to break down. An easy and simple way to start making a difference, and even your children can actively help. Fresh, clean fertilizer for your garden; less waste for landfill; clearer conscience: all for under fifteen dollars..

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Thank you as always for all of your wonderful comments and thoughts about the Schiffer Line.. A great deal of thought goes into it, and the feedback is greatly appreciated. Please don’t forget, if you have any real estate needs that I can help you with please don’t forget to COUNT ON CAROLE

By the way, I have a few properties that are not listed for sale both in Bel Air Crest and Mountaingate. Their prices range from $1,900,000 - $6,500,000. If you have any interest, please let me know.

Remember to: COUNT ON CAROLE FOR ALL OF YOUR REAL ESTATE NEEDS!!!

Carole

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The SchifferLine

Timely real estate news from Carole Schiffer                                   1 August 2008 _____________________________________________________________________________________________________________________

Doom and gloom has yet to hit some parts of Los Angeles, and for others it has hit. It appears that UCLA Anderson School's prediction that we are not going to fall into a recession this year (so far) was bolstered by the news that the economy grew a modest 1.9% in the second quarter of 2008. But if you're in the real estate industry, you might think differently -- but again, it depends on where you sit.

Beverly Hills real estate continues to show its strength in 2008 with median sales prices since January growing at 13% as of July 31, and prices climbed 23% in July compared to a year ago.

Bel-Air, which suffered much of 2007, rebounded with an 11% growth in MSP since the first of the year, and a 19% growth for July 2008 vs. July 2007. Taking hits were Beverly Hills Post Office and Brentwood who are both lagging behind -- .showing a 15% and 8% decline respectively in MSP from the start of 2008 through July 31..

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We also look at # of homes sold to give us a better indication of market activity and strength. Again Beverly Hills leads in the four areas I focus on, with 25% more homes sold in 2008 vs. 2007 for the month of July. Bel-Air was marginally even for the same period. However, Beverly Hills Post Office and Brentwood home sales were significantly down -- 50% and 37% respectively.

Sales volumes in all four areas continue to show anomalies -- large sales in each of these areas skew monthly and year-to-date statistics. But as I have written before, there is strength in the $5 million-plus price range. And foreign buyers continue to have a strong presence in the market, taking advantage of the weak US dollar. I am currently representing a number of buyers who are seeking homes in this price range.

Also don’t forget that these numbers which come from the multiple listing service reflect transactions that most were begun 45 – 60 days ago. I can tell you that open houses are still active, there are still multiple offers if the property is priced properly, and there are still people who want to buy real estate in West Los Angeles.

While it's been a challenging year, my business has really accelerated since the start of summer, and I attribute it to quality listings, a growing, active market, and the continued strength of West Los Angeles -- in terms of our area assets and location, does it get any better than this? I don't think so.

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Where were you at 11:42 a.m., Tuesday, July 29? If you were like most of us, you were shaking, rattling, and rolling with LA's areas first significant earthquake in many years. No, this wasn't as bad as the Northridge quake in January 17, 1994, but it made the news across the US. And while many experts have downplayed this last earthquake's capacity for doing major damage, the Los Angeles Times did offer some handy tips on how to better prepare yourself and your home for the "big one", which is predicted as a "sure thing" in the future. Here is what the Times recommended:

Walls - -- make sure heavy mirrors, picture frames and bookcases are anchored to studs;

Chimney -- nail plywood around the base of the chimney in the attic to protect the ceiling from falling bricks;

Hanging plants, plants -- anchor any hanging objects to wood beams;

Wall units -- two things: 1) use L-shaped braces attached to studs to support any wall unit and 2) install small rails on the front to prevent objects from flying off the shelf;

Gas appliances --if you have rigid gas-line piping, consider replacing with approved, corrugated connectors which are not likely to break

Kitchen, dining room - -- several things you should do: 1) install latches to your cupboard doors (like child proof locks); 2) apply small pieces of adhesives to collectibles; and 3) strap water heater, and any other large appliances to studs;

Gas leak primer - -- 1) know where your gas meter is located; 2) know where your gas shut-off value is located and that you can reach it; 3) have an adjustable wrench (or mechanism) to shut off the valve.

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Green Tip

Your computer - Part 2

For your next computer, consider a notebook instead of desktop - these use under 50% the electricity of a desktop machine -

- If you can afford it, buy extended warranty with your new system so there's less likelihood of you needing to junk the computer within the first few years if an expensive repair is needed.

- Do you really need a 22 inch screen? When considering your next screen purchase, balance your wants with your actual needs.

- Before purchasing a new computer, consider upgrading the hardware in your current machine. Some extra RAM (memory) or a new hard drive may be all you need to restore life to your current system. According to this site, the energy needed to churn out a new computer is enough to power a system for a decade!

- Following on from the above point; it's not uncommon for Windows to get slower as time goes on. This isn't necessarily your machine, but software bloat. All the updates, installing and uninstalling of software, applications running in the background that you don't really need take their toll and basically clog your machine up; seriously impacting on performance, which in turn is more wear and tear on hardware and increase electricity consumption. Consider doing a reinstallation of Windows and your software. A lean machine will sip less electricity and perform much better

. - Consider a refurbished computer for your next purchase. These aren't dusty old machines that have just been wiped over; often they are display models or recent purchase returns with very little wear and tear that is thoroughly checked before sale, and often has the same guarantee that new units do. You can save a ton of cash this way!

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Know anyone that wants to lease a really snazzy home in Mountaingate??? Check out my listing at 12540 Promontory for $9,000 a month. It is 4 bedrooms, 3/5 baths, pool, spa and city view. You can see the photos on my web site…. Caroleschiffer.com

Remember to: COUNT ON CAROLE FOR ALL OF YOUR REAL ESTATE NEEDS!!!

Carole

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The SchifferLine

Timely real estate news from Carole Schiffer                                  15 July 2008 _____________________________________________________________________________________________________________________

Where is Jonathan Winters when we need him? OK, perhaps you don't remember the classic comedy -- The Russians Are Coming, The Russians Are Coming (1966), but this Cold War spoof made fun of the Russians invading America. Well, 42 years later, it feels like that sometimes. But let's not forget the Koreans, Japanese, Chinese, Mexican, and Norwegians (how did they sneak in there?).

It's not hard to figure out, is it? I mean -- look at our dollar? Look at the yen, the Euro, the pound -- and you'll American real estate bargains written all over these currencies. They are coming in droves -- with cash offers to buy whatever they can. It will not last forever (we hope so), but for now the preponderance of buyers out there today are foreign and for the time being are very active in the real estate buying market on the Westside.

I have a fabulous listing ($11,895,000 million) in Bel Air Crest -- and the majority of the appointments are with foreign buyers who have the cash and the interest to buy quality properties on the Westside -- from Beverly Hills to the Pacific. They want quality and can find it. "You have the best neighborhoods, best cities, and best infrastructure of any place in the world today," one buyer told me. "It is the place to own a home!" he said. So what does this mean in terms of getting our transactions closed in dealing with foreign buyers? I have found that a number of these potential buyers have banking relationships here in this country, so that makes a little easier for them to have access to their funds. Even if all of their banking relationships are only outside our fair shores, it generally takes a little longer to get verification of funds and to have the funds wired to escrow close. The only times it really takes a much longer time is if they do not have any credit here in this country.

How does this affect the marketing of your property? It is important to understand that differences in the cultures that are being represented in looking at your home today. This is another reason for working with an experienced agent (me) who understands some of these cultures and the mores and how to work with them. If you have a quality property in a good location -- it will sell, if priced right. Price continues to drive this market -- but is this unusual? Not in the least! Price is always the key factor in moving real estate. There is an old marketing adage: "If you have a line, your price is too low. If you don't have a line, your price is too high." This point is especially true when you price your home. Cash-rich foreign buyers are not fools, and they want bargains -- true; but they also are astute enough to know quality when they see it, and are willing to pay for it.

So the good news? Not only are the Russians coming -- but every other global player who wants to live in one of the great places on the Planet. What this trend tells us something we already know: We have a great community.

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It doesn't take a brain surgeon to figure out how to quickly and relatively expensively improve your home to maximize its value. Here are 12 simple things you can do to enhance your property and maximize the price in today's market:

1. Get the right mind set. Once you list your home detach yourself from it. Treat the house as a commodity, which means making changes that will broaden its appeal but that may erase some of your personal style.

2. Start at the curb. Look at what people will see when they pull up to the property. Trim hedges, prune trees, mow the lawn and plant oodles of color flowers.

3. Paint – Its money in a can.

4. Focus on the entry. Put some energy into the front door... It makes a strong first impression.

5. Catch up on maintenance. Fix the little stuff like the cracked tile in the bathroom, torn screens, replace broken light switch covers and burned out light bulbs.

6. Look for alternatives to expensive or messy upgrades. Keep improvements small and manageable. A major project can take up the valuable time you could be on the market. Timing can be everything.

7. Consider new appliances. Many times new appliances can make a kitchen appear to be new.

8. Add some house bling. Change an older dining room fixture that looks tired, same with curtain rods. New shiny front door handles and faucets make everything around them look fresh and new.

9. Start packing. Get rid of the “stuff”. We all have a lot more stuff in our room than we need and it makes any house, even the biggest ones look crowded and cluttered.

10. Remove the “you” factor. Many times buyers get distracted in looking at personal family photos of the sellers.

11. Clean the house from top to bottom. Look at your house with a new eye.

12. Banish smells. Try to avoid cooking odors when you know the house is being shown, fish is particularly offensive at times. An old, but good trick is to bake some cookies... Nothing spells home like the fragrance of home baked bread or cookies.

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Green your computer use

Lightening your computing environmental footprint– Part 1

Computing has changed the world – a great example is the Internet. It’s hard to imagine either not existing.

While computer usage can actually lessen our environmental footprint, for example, being able to work from home or control of farm irrigation and many other tasks, the energy consumption involved with casual computing and gaming generally is massive.

There’s not just the usual computer usage related electricity consumption, there’s also all the millions of tons of plastic and metal used to create the billions of computers in their various forms now on this planet.

We can do our bit in lessening our impact and the following are tips for more earth friendly computing, some of which will also save you cash!

- When not in use for extended periods, switch your computer of at the wall to avoid phantom power load consumption.

- Have your power saving management options enabled and properly configured for period when your computer is temporarily not in use. In Windows, this can be found in Settings/Control Panel/Options.

- During usage, have your screen as bright as you need it– unnecessarily bright screen really chew the juice.

- When buying components and peripheral items, try to choose those that come in the least amount of plastic packaging as possible

I also want to thank my fellow Bel Air Crest neighbors for re-electing me to the Board of Directors for the Homeowners Association. I very much appreciate your support.

Remember to COUNT ON CAROLE FOR ALL OF YOUR REAL ESTATE NEEDS!!!

Carole

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The SchifferLine

Timely real estate news from Carole Schiffer                                  16 June 2008 _____________________________________________________________________________________________________________________

Dear Friends....

Is that a silver lining we see? Could there be good news for the Real Estate Market on the Horizon?

Good news sometimes comes in small packages. Like in baseball, tracking real estate trends has become an industry, and the slightest of movements in the marketplace get scrutinized. Sales for the Brentwood Court office in May (where I work) showed another strong month, succeeding May 2007 by nearly 13% in sales volume. June is expected to be another strong month. And our office was in the top 20% of all Coldwell Banker offices across the US. This really speaks well to the strength of our market and office.

Speaking at our sales meeting last week , Betty Graham, President of the Greater Los Angeles Company in Los Angeles, noted that we may be near the end of the current down cycle for the market. "The typical down cycle lasts 36 months, and based on when we started this downward trend (early 2006); we're now in our 30th month." She pointed out that on the Westside, we are usually the last in, first out....and we are now beginning to see a stronger market already for mid-2008.

And with our relatively weak US dollar, we are also seeing a lot of foreign buyers who are taking advantage of the strength of their money.

While volumes are still down (as much as 50% in some areas), I don't want to minimize the market's weakened condition, but you can definitely feel the upswing in the energy.

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One of the key indicators that I have used as a barometer for market strength are the number of people attending open houses, and the business that can be generated from them. Across the board in the Westside area, we are now seeing more open houses and multiple offers are on the increase. The general observation I am making and it has been confirmed by a number of people is that the buyers are out there and interested, but they are also holding on to their money a little longer, so it becomes necessary for us (agents and clients) to create compelling situations for them to “shake that money loose”. The trick is to create that compelling reason… and that is where being a and working with a professional real estate agent comes into play.

One of the marketing strategies that is being used to generate offers is the pricing of properties just slightly under their market value. The rational for this is to hopefully generate multiple offers and drive up the price over what the price might have been otherwise. This is a 'gutsy' move -- sometimes – as a seller in my opinion has to be prepared to” live by the sword and to die by the sword”- in that buyers may not respond to this strategy. Depending on the client's situation, I have from time to time suggested this marketing strategy for a Seller’s property. So does this strategy work?.. depends.. Here is an example. Every day I run what is called a hot sheet from the MLS which gives me a quick snapshot on what is happening in a number of areas, Beverly Hills, Beverly Hills Post Office, Brentwood, Bel Air, Mar Vista, Santa Monica, Beverlywood, Westwood, Venice, West Los Angeles, Rancho Park Cheviot, and Pacific Palisades. Last week, I noted for two days running that of the approximately Fifteen (15) closed escrows of single family homes in these areas, there were (8) eight that had sold in a very short period of time all over asking price. This is generally an indication that there were multiple offers.

But, again, selecting the right marketing strategy is a function of knowing the market, the neighborhood, and how your property is situated in the selling environment.

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Stop for a minute and consider this statistic: 95% of the sales are completed by 5% of the brokers. As legendary New York real estate guru Barbara Cortland remarked on the Today Show last week, why would you "not" hire a power broker, especially in these times. I've never seen myself as a power broker, but as one of the top agents (in the top 5% for over 20 years) in the Brentwood Coldwell Banker office, I would agree with Barbara -- why not hire me? You can count on my skills and experience bringing success to your transaction

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OK, time to stop procrastinating: Get your earphone! Starting July 1, two new California laws take effect that says you must be using a hands-free device for cell phones if you're driving a car. And, the second one is that it will be against the law for anyone under the age of 18 to use a wireless device in a moving vehicle. Listen up! I have had one for over a year and really enjoy it and have pretty much gotten over people thinking I am talking to myself when they see my lips moving, but no phone.

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Green Tip and Reminder

I also want to thank all of you who thank me for the Schifferline and tell me how much you enjoy reading it. That means a lot to me.

Remember to COUNT ON CAROLE FOR ALL OF YOUR REAL ESTATE NEEDS!!!

Carole

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The SchifferLine

Timely real estate news from Carole Schiffer                                    3 June 2008 _____________________________________________________________________________________________________________________

It's been a long time since I've been on a roller coaster (Santa Monica pier, (have you checked out the new one that was installed last week?), but the current market sure feels like I'm on one now. Like most of you, I read the papers and discover that housing prices are up, down, and sales volumes are half of what they were a year ago. As a Realtor on the Westside, these local, regional or national statistics have had an affect somewhat minimal at times, more so at other times, on what we are seeing in Beverly Hills, Beverly Hills Post Office, Bel-Air and Brentwood. We have consistently bucked these trends, although we do see some dwindling sales volumes -- prices are up, volumes down. I must admit that at times, it feels like I and the market are like a bouncing ball… negative articles in the Los Angeles Times, and positive ones on the same day in the Wall Street Journal. What is a girl to believe or do???

There are times that I find myself acting like a 'cheerleader' -- trying to stay in a positive mode about the real estate market, when everyone else is talking doom and gloom. Yes, there are great buys out there, and if your home is priced correctly, it will sell in less-than-average time. But over these good and not-so-good times since I started the SchifferLine, I have been consistently forthright -- giving you the same raw data that I have from the Beverly Hills-Los Angeles Multiple Listing Service. Good or bad, you can count on getting the latest 'real data' on your area (as defined by the MLS). So here goes for May, 2008:

Beverly Hills, which continues to lead all Westside areas in median sales prices ($3,775,000), showed another strong increase over last year with a 24% bump, with a MSP of $3,881,000 vs. $3,132,500 in May ‘07. Beverly Hills Post Office had a 30% drop vs. May 2007 with $1,537,000 vs. $2,222,500; Bel-Air had a 27% increase over May of last year with $2,300,000 vs. $1,800,000; and Brentwood had a relatively minor 8% drop in median sales price in May 2008 vs. May 2007 with $1,742,500 vs. $ 1,895,000. These statistics are only reflective of the trending in real estate prices in these communities because some months we will see a large sale ($15 million plus) skew the overall median sales price. The monthly MLS numbers help us track these trends. Like all trends, though, they don't always reflect individual markets or monthly performances -- they're up and down, just like on a roller coaster.

However, what is clear is that Westside real estate -- overall -- is in a relative 'slump' -- sales volumes are down in all areas by as much as 68% (BHPO), 65% (BH), 49% (Bel-Air), and 31% (Brentwood). Prices are holding -- but the number of sales are dramatically down. The market remains strong -- so, there you go! Another up/down ride on our new solar powered roller coaster.

Another party heard from…… First Republic Quarterly Index -- Silver lining for the Los Angeles Market

What this Index shows is the 1985-2008 tracking of home prices in the greater Los Angeles area for homes of $1,000,000 +.When the Index started in 1985; a $1 million home was considered prestige-valued homes. The average median today is $2,352,000, dropping down from a high of $2,468,000 in June 2007. The index measures homes with 3,000 to 6,000 square feet, three to six bedrooms, and three to six bathrooms.

The Los Angeles market, according to the last quarter, is "weaker because move-up buyers are staying put”. The market is slow until about $4 million, but the moment you hit that threshold, there is consistent, pent-up demand -- the higher the price, the greater the demand." ("...it's extraordinary.") -- something we have been saying since we started The SchifferLine over three years ago. The stats from the following communities are being drawn for Los Angeles – “Arcadia, Beverly Hills, Pacific Palisades, Pasadena, Playa del Rey, Santa Monica, Studio City, and the West Los Angeles enclaves of Bel Air, Brentwood and Westwood”. “In producing this index, the data is drawn from an economic data base, years of experience in tracking single-family values; collecting and cross checking data from multiple sources, a weighted balance of repeat sales, comparable sales and physical home characteristic

The First Republic Prestige Home Index for Los Angeles is based on a portfolio representing a cross-section of homes valued at $1 million or more in the greater Los Angeles metropolitan area.

Values of properties in the portfolio were traced back to 1985 using regression analysis and then calculated for each year as well as for each quarter since the fourth quarter of 1994.

For each home in the portfolio, a market evaluation was performed for each time period taking into account repeat sales, comparable sales, and characteristics such as size of house.

This chart shows changing values of a portfolio of homes selected by First Republic, value of each home produced quarterly

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Rather than give you more data, I thought I would do something a little different... Here is the link for you to take a test to see what your carbon footprint is.... it is quite interesting and thought provoking. http://www.conservation.org/act/live_green/Pages/ecofootprint.aspx

Have fun…

Remember to: COUNT ON CAROLE FOR ALL OF YOUR REAL ESTATE NEEDS!!!

Carole

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The SchifferLine

Timely real estate news from Carole Schiffer                                   16 May 2008 _____________________________________________________________________________________________________________________

One of my favorite people pointed out that I might tend to ignore 'the other people' -- those living outside of Beverly Hills, Brentwood and Bel-Air. "Am I chopped liver, or what?" he queried after receiving the latest Schifferline. Of course not, I reassured him. But he had a point -- my traditional, primary areas are in those cities, and I admit I focus much of what is in my semi-monthly newsletter on these areas. So I want to share with you as to how other Westside areas were 'tracking' -- sales volume and median sales price. And here's what is going on: The Westside communities all appear to be in the same boat. The higher-priced neighborhoods are holding firm on prices or showing significant increases in median sales prices. Some areas are up one month, some down the next. So, let's take a closer look at some of these other areas.

Westwood and Century City median sales price for 2008 (vs. 2007) year to date is up 7.5%; Palms-Mar Vista is down 6.7%; but Santa Monica and Pacific Palisades are both up -- 43% and 17% respectively over year-to-date MSP in 2007. What is interesting regarding sales volume (where sales are down significantly over 2007); Westwood-Century City sales are even for the comparable four-month 2008 period over last year. The other three areas show the same softer sales volume as we have seen in Beverly Hills, Brentwood and Bel-Air -- Palms-Mar Vista is down 34%....Santa Monica is down 53%....and Pacific Palisades is down 23% over 2007 year-to-date totals.

My friend happens to live in a condo in Westwood, and as the above information pertains to single family residences rather than condos, it would not be as pertinent for him, but in general it is also interesting to see what is happening all over. No matter -- the Westside continues to run counter to national and regional trends -- prices remain firm or increasing over 2007; sales volumes are significantly down. Opportunity? There are some outstanding properties on the market now -- and as I have said -- properties that are priced right sell quickly.

Remember Please -- I work in the entire Los Angeles area, houses, condos, investment properties and leases….and just recently sold a house in Westwood.

One marketing note, you may want to check out OpenHouseLA on Sat. 24 May at 7:00 pm on NBC 4,. I will be appearing with my beautiful new listing for $14,000,000 in Bel Air Crest. You can also see photos of this fabulous house on its website… www. Villabelaircrest.com

Morgan Faces Life at USC....it could be worse

So there I was helping shepherd my niece, Morgan, through her first year at the University of Southern California. For Auntie Carole (a UCLA grad), it was, indeed, a new experience. It turned out to be a challenging but fruitful first year away from Morgan's Vancouver, B.C. home. After attending a relatively small, private school in Canada, she found the expansive USC campus in the middle of Los Angeles somewhat intimidating at first, but she gradually slid into her comfort zone meeting new friends at her dorm and in the classroom. She learned to drive the freeways using the GPS system I bought for her ("I still have a ways to go on this..."), and she enjoyed the weather, especially in January and February when one wears ski parkas in Vancouver. Southern California seemed to agree with her - she told her mom about the many benefits of sitting around her dorm pool and studying.

Morgan, 18, excelled in both her pre-med and English studies the first semester, but her grades for the spring semester won't be out until she returns home. And how did Auntie survive? Well, it was wonderful to have her here. In the end, she did great and both my mother and I loved living through her experiences with her -- it took us both back to our child-raising and college days. Will she come back? Morgan is exploring the possibility of a smaller college for her next year, so we'll see if she returns in the fall. Turns out that USC ain't so bad after all.

Baseline Mansionization Ordinance

As you may know, the Los Angeles City Council passed a new ordinance pertaining to how an owner can develop, remodel and/or make improvement to or rebuild their property, including square footage (Los Angeles City Planning Case No 2007-106 CA). At this time, this ordinance only pertains to properties that are in the “flats” and not the hillside such as Bel Air Crest, Mountaingate, Bel Air Park, and lower Casiano. The City Council is now working on this and hope to have it sometime soon for passage as well. For additional information regarding the Ordinance, I am attaching a link for you so that you can read what the ordinance means http://zimas.lacity.org/. I do not have expertise in this Mansionization Ordinance area, and am passing this along for information purposes only.

Much has been written lately about organic (and transitional) cotton that has positive affects on the environment and for your personal wardrobe.

Organic cotton is cotton that has been grown for at least three years without chemical pesticides, defoliants, or fertilizers. Fertilizers that are used include compost, manure, naturally derived mineral and plant fertilizers, and crop rotation. Insect controls involve the use of beneficial insects and natural pesticides certified for organic crops. Organic cotton is also processed without oils, chemicals, and pesticides. Transitional cotton is cotton grown organically but for less than three years (which is the threshold for being classified as 'organic').

Because of the rapidly developing bodies and immature immune systems, babies and children can benefit greatly from pure, organic cotton products. Organic cotton feels softer, smells cleaner, and is less likely to trigger allergies.

The sustainable farming practices used to grow organic cotton do not pollute groundwater, surface water, soil, or air. In fact, soil quality is actually improved by the production of organic cotton. Organic cotton is safer for farmers, for you, for your baby, for the environment, and for all the other creatures with whom we share this amazing planet.

Wal-Mart recently announced the purchase of 12 million lbs. of transitional cotton to spur the growing of organic cotton. Wal-Mart is selling a line of transitional cotton T-shirts called Faded Glory

When you purchase organic cotton products, you send a message with your money, a "dollar vote", that says 1) you will not tolerate conventional cotton production, with its dangers to human health and the environment, and that 2) you support sustainable farming practices. Hopefully, other apparel manufacturers and retailers will offer organic cotton products.

Have a wonderful Memorial Day… See you around.

Remember to: COUNT ON CAROLE FOR ALL OF YOUR REAL ESTATE NEEDS!!!

Carole

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The SchifferLine

Timely real estate news from Carole Schiffer                                    2 May 2008 _____________________________________________________________________________________________________________________

Associated Press reported last week: “… Sales of new homes (US) plunged in March to the slowest pace in 16 ½ years as a two-year housing downturn extended into the start of another spring sales season. The median price of a new home in March compared to a year ago fell at the fastest clip in 38 years.” File that away, if you’re interested in new home sales statistics.

With few new homes under construction and no large tracks of new housing underway on the Westside, we take a jaundiced view of these statistics that seem to roll off the presses (and your computer) every week. When will the news get better, you ask? It seems that any and all real estate news affects us – certainly Realtors who specialize in the Westside. And April was no exception.

So, here goes: There was good news in Beverly Hills and Bel Air where the median sales price for April 2008 (vs. April 2007) was up 32% and 60% respectively... However, if you lived down the street and your address was Brentwood or Beverly Hills Post Office – it was a different story: BHPO was down 23% vs. a year ago, and Brentwood was not far behind with -19%.

Good news, not so good news. This has been the theme of the Schiffer Line for the past year as we have slid into a near recession mode (but escaped this first quarter 2008, thank you). Some neighborhoods do well for several months, then slide the next. What is disturbing overall in these four communities is that sales volume, year to date, is off by more than 51% -- a staggering # if you like to follow these numbers – and Realtors do, by the way. Median sales price can be skewed by an occasional anomaly – a house on the market in Beverly Hills in November sold for $17 million. But it came back on the market in March 2008 for 17 million, and it sold – but the MLS recorded the sale for only $10! Of course, no one believes that…but that is how MLS stats can be deceiving. After talking with the title company, we discover that the house actually sold for $17 million in April 2008—which would jump the city’s average from $3.8 million to $5.6 million for the eight homes closing escrow this month.

As a dear friend reminded me the other day – statistics form the MLS can play tricks on the actual state of affairs in a community – especially when large sales can skew the month-end results. The MLS has moved to clean this up, and they’re doing a great job – but there are still glitches (like the $10 recorded sale in Beverly Hills).

We’re concerned for the short term about the lower sales volumes – while we have seen our prices on the Westside hold against the low tide elsewhere, it also means that sales of existing homes have dramatically slowed down. – but NOT if your home is priced right. Remember, even in tough times, a home that is priced correctly, will sell – many times with multiple offers (yes, that is still happening today) there recently was a home on North Beverly Glen that received 22 offers the first day it was on the market! Those statistics in our market prove that. Do we live on a fault line? Are we sinking into the Pacific Ocean? Not yet. Stay tuned.

By green I don’t mean the color of the water in your swimming pool I am referring to lessening the environment impact.

If you’re a pool owner, here’s some issues to take into consideration and ideas to help lessen the impact your pool has on the environment – and the one major green step you can take is to use a pool cover.

It’s just not the amount of water that initially is put in a pool that’s a problem, an uncovered pool with dimensions of 18 feet X 36 feet can lose around 7,000 gallons of water a year just through evaporation depending on where you live. To put that into perspective, that’s enough water to sustain a human for 29 years.

A pool cover/blanket can reduce evaporation by a massive 90-95% and they are quite inexpensive to buy. While most pool blankets are made from plastics, it’s a case of the lesser of the two evils.

I’ve read that up to 1 in 5 swimming pools leak. A small leak in a pool can cause the loss of 700 gallons of water per day. If your pool is losing over a quarter inch of water every 24 hours (or half an inch in particularly hot , dry regions), it’s a good indication you may have a leak.

By addressing leaks and evaporation, you’ll not only save precious potable water, you’ll likely save a ton of money as well.

Chorine can be nasty and a recent study drew a possible link between chlorinated pools and asthma in children. Draining pools and discharging backwash can cause problems to waterways if it’s not done correctly. If you do need to use chlorine in your pool and find the occasion to drain it, avoid adding chlorine for a full week before emptying the pool

Again a pool cover/blanket can reduce chemical use by up to 50%. Evaporative pool chemicals contribute to the production of greenhouse gases; so you’ll be doing good there as well in chemical reduction.

Some alternatives to chlorine include copper ionization and oxygen systems, ultraviolet (UV) sanitization system or possibly salt, although I believe with the latter, other chemicals also need to be added.

If you heat your pool you’re in a for a nasty shock when it comes time to pay your utility bill.. Building on the pool blanket idea, you can buy bubble covers that are basically a solar energy collector, increasing your pool temperature substantially and helping to lock the heat in. Apparently clear blankets are the best option

Once again, please do not hesitate to get in touch with me for any of your real estate needs,

I look forward to hearing from you.

Carole

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The SchifferLine

Timely real estate news from Carole Schiffer                    .                     18 April 2008 _____________________________________________________________________________________________________________________

So what is more important -- the volume of real estate sold in your neighborhood or the value of your home? The answer is clear to any homeowner who is selling (vs. the ones who are not): Home prices affect the homeowner more than the volume sold, even though the two are linked like brother and sister. In this real estate market, strength is measured by both sales volume (the total amount of homes sold in any given period) and by the selling price of homes (what the MLS refers to commonly as the median sales price).

But for the homeowner, the actual selling price is the all-important measurement. No one likes to see the median sales prices fall, because it affects -- directly and indirectly -- the value of your home investment. So there is good news for homeowners.

Median sales prices in three communities -- Bel-Air, Brentwood and Beverly Hills are all up over the past two months.

For example, the MSP for Beverly Hills was up 43% over 2007 for March and up 72% over February 2008 -- a sizable jump. Bel-Air was up 10% over 2007 for March 2008 and up more than 54% over February. And in Brentwood, the median sales price went up 50% over the previous 2007 March period and up a whopping 89% over February 2008. Beverly Hills Post Office recorded 10% decline over 2007 (March comparison) and 54% under February 2008.

What does all this mean?

It means, for the most part -- that real estate prices are holding for homes in three of the four areas (but also recognize that BHPO has performed well through 2007 -- so the declines the past two months are not indicative of the community's strength).

Total sales volume for the first quarter 2008 is off by more than 50% in our four areas (Bel-Air, Brentwood, Beverly Hills and Beverly Hills Post Office) vs. the same period in 2007. The slowdown in real estate sales is not new news, but the current market reflects buyers' reluctance to move quickly in these more challenging times of tighter credit and less “ good” inventory. But the good news is that sellers are getting the price if their home is priced right, and many homes are getting multiple offers, including one in Bel Air Crest this week, and another on another home a few weeks ago..

Days-On-Market (DOM) is another sign of the market's strength, and I am happy to see that the average number of days a home is on the market is dropping -- just 73 DOM's average for all four of these communities. Lowest average DOM is Brentwood (42 days) and the highest is Beverly Hills (108). So, we are moving homes quicker and the average sales price is 95% of the original asking price -- another good sign.

In the end, we are seeing signs that Spring is beginning to shows signs of life in the local real estate market. As a 25-year real estate professional, I get energized by the Spring weather and the increased real estate activity -- this is a great time to sell and a great time to buy. There are buyers out there who are anxiously looking for their dream home. There are sellers who have chosen this time of year to sell -- and whether you're a buyer or seller, you should consider making your move now. And I'm here to help.

Green Tip of the Month - Mothball alternatives

Mothballs may be effective, but the smell leaves a lot to be desired. Matching the smell is a mothball's toxicity - they are rather nasty from an environmental point of view.

Back when I was growing up, mothballs were made mainly of naphthalene, which is highly flammable. These days mothballs are made from dichlorobenzene instead. Anything with the word "benzene" in it is cause for alarm as these substances tend to be carcinogenic.

While dichlorobenzene breaks down "safely" in the air - it's a pesticide and heavy concentrations can have ill effects on animals and humans. Dichlorobenzene doesn't dissolve easily in water nor is it readily broken down by soil organisms. It can also accumulate in the fatty tissues of animals and humans. Another component of traditional mothballs is camphor.

While camphor is a natural product that comes from the wood of the camphor laurel tree; much of the camphor used in commercial products these days is a synthetic - and how that's made is anyone's guess.

Ditch the mothballs - greener alternatives

While having moths dine on your expensive woolens is very undesirable, there are some more earth friendly alternatives to mothballs:

- Ensure all your woolens are washed before storing. This is to ensure any eggs have been removed and odd as it may seem, it appears moths are attracted to human scents.

- Wipe out all containers or drawers to be used for storage to remove any existing moth eggs.

- Ensure clothes are thoroughly dry before storing -

- Store clothing in well sealed containers

- Try one of the following in a cheesecloth bag; but ensure the bag doesn't touch the clothes: Bay leaves, cedar shavings, cinnamon sticks, cloves, eucalyptus leaves, lavender, peppercorns, rosemary, wormwood. Cedar balls and blocks are also said to be effective in repelling moths, but need to be sanded occasionally in order to "refresh" them.

I hope you enjoy this newsletter. If you would prefer to receive it via e-mail, please send me an e-mail @ ceschiffer@aol.com, and I will be more than happy to add you to my list.

Thank you.

Carole :

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The SchifferLine

Timely real estate news from Carole Schiffer                                       14 March 2008 _____________________________________________________________________________________________________________________

Happy St. Patrick's Day -- so where's the (corned) beef? And kissing the stone.

Corned beef and cabbage is as Irish as it gets, right? Wrong. You might be surprised to learn that this traditional Irish dish is more American than Irish. "This is an American creation," one Irish-born friend recently told me. And after browsing the Google Library, I discovered she was right. In a survey of Irish radio listeners, not one mentioned corned beef and cabbage as their main dish for “The Day”. In fact, one listener said it perhaps best of all...."Eat? I eat pints,” and referred jocularly to the pint of Guinness as a "shamrock sandwich". And green beer is purely American. But who cares? Go enjoy your green beer and corned beef and cabbage anyway. Another bit of Blarney. There is Blarney Castle, County Cork, Ireland, which is home to the famous Blarney Stone located on the castle grounds. Nearly 600,000 visitors trek to the Castle -- which was formed in the 11th century -- to kiss the Blarney Stone each year -- which means one will never be 'lost for words'. Because the Irish love words, the Blarney Stone will remain a national treasure.

The Scorecard....UCLA Anderson predicts no recession. But it depends.

If you happened to see the latest economic forecast from UCLA's Anderson School of Business (uclaforecast.com), you will be happy to learn that in their opinion, we are not headed for a recession, although you may have heard otherwise. According to the school's two senior economists, Ryan Ratcliff and Jerry Nickelsburg, Southern California's economy, while experiencing difficulty in the real estate-related sectors, is still strong in other areas. ""The current state of the California economy and our forecast fall short of the weakness in previous historical episodes that we've chosen to label recessions," Ratcliff and Nickelsburg wrote.”Based on comparing the current economy to past recession episodes, we once again conclude that real estate weakness will remain a significant drag on the economy, leaving us treading water in 2008 — but not slipping under the waves into recession." Both of them mention that they know they are swimming upstream and that their opinions are contrary to others, but they have stuck their necks out before and have proven to be correct.. Let’s hope they are again.

Credit losses in the mortgage industry will continue to affect us according the UCLA Forecast, and while we're not headed for a recession, we will have a weak 2008. Am I a 'Pollyanna'? Yes and no. .

The other side of the coin...

According to a recent article in the Los Angeles Times, about 54 % of the CFO’s that were interviewed by Duke University/CFO magazine feel that the US in already in a recession… So what is the actual definition of a recession?

Definition: A recession is defined to be a period of two quarters of negative GDP growth. Thus: a recession is a national or world event, by definition. And statistical aberrations or one-time events can almost never create a recession; e.g. if there were to be movement of economic activity (measured or real) around Jan 1, 2000, it could create the appearance of only one quarter of negative growth. For a recession to occur the real economy must decline.Definition: A recession is defined to be a period of two quarters of negative GDP growth.

Let's see what is happening in our neighborhoods?

Market is picking up steam...CB Brentwood Court office sales are up for February.

We actually may get some rain this weekend after experiencing many wonderful, sunny Southern California days of 'perfect weather'. Yes, we are blessed with not only good weather, but we also have escaped many of the downturns in the real estate market other areas are experiencing. Nothing is more personal than what is going on in my real estate office and in my 'career' as a Realtor. And there is good news. January sales volume for our Brentwood Court office for Coldwell Banker was up nearly 25% in January over 2007 (27 sales in ’07 vs. 17 in ’08) (one of the Feb. sales was for $15,000,000); and February was another outstanding month, with sales up another 25% over the same period last year ( 28 un 2007 and 35 in 2008). In a review of the weekly 'caravan' tour of Westside homes on Wednesday, we all perked up -- there were multiple offers on nearly half of the 25 listings that agents in my office had seen this past Tuesday. This is a welcomed change for sellers, and it indicates that there is renewed energy in the marketplace. There is a pent-up demand for homes that are well priced and meet their needs -- they are going for it. If not, discerning buyers are staying away in droves.

With interest rates on the rise (slightly), home buyers are reluctant to keep waiting for the market to flatten (or even go down) because they can't afford higher rates, especially with the credit tightening going on. Seeing a noticeable bump in sales is a sign of strength for our Westside real estate market.

But, frankly speaking, nothing hits closer to home than how "I" am doing”. A real estate professional for nearly 25 years, I was a bit worried about my own success at the beginning of the year. In 2007, I had a spectacular start -- one of the best in my career -- only to find a slow second half. So, when I trailed last year's ' start, my accountant reminded me: "Carole, you are performing at the rate that will make 2008 an even better year overall. You're doing great." I needed that.

Green tip for the day: Here is a web site that handles this for you. Go to: www.catalogchoice.org -- Select from an alphabetically list and indicate which catalog you don't want to receive. Warning: This will take some time, because the list is very long. Does it work? Yes it does…. It just takes a bit of time and maintenance to do through. . This option has already cut down on the number of catalogs I get at home. If it doesn't work, you may have to call the company specifically and tell them directly. Good luck!

Remember to: COUNT ON CAROLE FOR ALL OF YOUR REAL ESTATE NEEDS!!!

Carole

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The SchifferLine

Timely real estate news from Carole Schiffer                                    4 March 2008 _____________________________________________________________________________________________________________________

And the hits just keep on coming....Westside is its own story

Every month, I review the latest Multiple Listing statistics for the neighborhoods I specialize in -- Beverly Hills, Beverly Hills Post Office, Brentwood and Bel-Air. . After all, keeping track of trends in real estate, especially in these crazy times, is important when it concerns one of your largest personal investments.

So, when I see wild swings in some months, which we have witnessed over the past several years during this bumpy real estate market, I have learned to "...take a deep breath, maybe take a walk, and then come back to see what is really going on."

What is really going on is that while we had some wild swings in sales volumes between January 2008 and February 2008, median sales prices for three out of the four areas I specialize in are up over last year, and that's good news.

Median sales prices through 2008 (first two months) vs. 2007 (same period) show that Beverly Hills is up 10% in price, Beverly Hills Post Office is up 36%, and Brentwood, which has enjoyed a recent renaissance, is up an impressive 70%. Bel-Air is down 30% for the year compared to 2007, but as I have said in the past, this could be an anomaly, too. Bel-Air is tracking behind the other three areas I cover. Overall, January sales were very strong for Beverly Hills Post Office and Brentwood, and the median price -- always a key indicator -- remains firm in all areas except in Bel-Air. Overall the number of sales is decent with 8 closed escrows in Beverly Hills in Feb. 08 vs. 10 in January, 2 in Beverly Hills Post Office vs. 5 in Jan, 6 in Bel-Air vs. 7, and 8 in Brentwood vs. 13 in January. We must remember that for the majority most of the January closed escrows are sales that actually took place in December or perhaps even November.

One of my neighbors, who also happens to be real estate a broker came into one of my open houses recently and we were discussing the most recent stats for Bel- Air and why they are down when everything else on the Westside is not ( you would not believe what is going on in Westwood!). It was and is something of a puzzlement. We decided perhaps it is because Bel -Air real estate is so varied.. we have a number of hillside communities, as well as properties in the “flats” where as all of the other three areas are more commodious … i.e. Beverly Hills is all flat., Brentwood is generally the same and BHPO is all hillside…

Buy, Sell, -- Oh, my, what should we do?

A popular subject these days....every family, every home, and every neighborhood is different. Motivation to buy or sell seem to cross through our minds, especially in real estate markets of the past when prices were shooting through the roof...when multiple offers were throwing buyers (and sellers) in a frenzied state....and now, with the market in a more normal condition, we ponder 'what to do'. There are currently multiple offers on a number of properties that have been on the market for a while.. the buyers are out there….

On a recent Today show (NBC), noted NY real estate guru, Barbara Corcoran, talked about this -- when to buy or sell. She had some good advice, and from my perspective as a 15-year Bel-Air resident and lifelong member of the Westside community here is what I tell my clients:

If you want to buy -- There are many compelling reasons to buy now, one of the most important of which is the fact that real estate is good investment, and we all have to remember that at the end of the day, we are buying a property that is going to be our home, and not just an investment.. Yes, prices are still steady in our neighborhoods, but interest rates are dropping to 'good-ol'days-levels' (less than 6%), and some sellers are anxious to sell and have priced their homes accordingly. Over-priced homes still abound in every area, so you need a sharp Realtor (me) to help you avoid these money pits. So now is a good time to buy -- right.

If you want to sell -- Again, pricing is the key. There are many, many buyers out there -- more than sellers. As I have said many .many times, presentation and location, in addition to price, will continue to be the critical factors in how well you do at Sales Time. A knowledgeable Realtor (Me) is requisite in this process.

Community News of Note

I haven't fully digested the latest EIR on the 405 Widening project , which just came out. Nothing is settled yet on this latest bit information on this very critical development, but they appear to be moving forward. We still have no new news on the reverse lane project on Sepulveda.

My Green tip - UCLA is sponsoring a Hi-Tech Dump program -- you can bring your printers, computers, fax machines and television sets to the UCLA campus every Saturday from 8:00am. to 2:00pm. The address is 552 Charles Young Drive, which is right off of Sunset Boulevard. I am still collecting all of your old cell phones and printer ink cartridges.. just give me a call and I will be more than happy to swing by and pick them up.. Also please don’t forget that the money from the items I pick up support programs for public schools throughout the state of California

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The SchifferLine

Timely real estate news from Carole Schiffer                                    14 February 2008 _____________________________________________________________________________________________________________________

The Wild, Wild West......2008 starts out with a 'bang'

Hold onto your seats, we may be in a for a wild ride with Westside real estate this year, especially if you live in Beverly Hills and Brentwood. But it all "depends". On what? When I reviewed the monthly (January 2008) Multiple Listing Services, Beverly Hills had a 58% increase in median sales price over January 2007....and Brentwood had more than 123% increase for the same year-to-year period. The Bel-Air and Beverly Hills Post Office communities had essentially no change over the past year for January 2008 vs. 2007.

On closer inspection, there were several large sales that skewed these results -- a sale of $16 million on a Beverly Hills home which affected the increase in this area, and two sales of $10.750 million and $14 million respectively in Brentwood which caused the median sales price to leap more than 100%. Overall, with sales prices holding firm in all of the four areas, the Westside continues to demonstrate why our neighborhoods show sustainability on the price side, always a key indicator of home values. By the way, last weekend I spent some time with members of YPO (Young President’s Organization) who were here as part of a package for the Grammy’s. While they are here, I serve as the friendly tour guide for Westside real estate tours. There were 40 YPOers on my tour from all over the world. As I am sure you know, the Westside is not the only market that appears to be immune to the sub-prime debacle.. Other strong real est ate markets include, Manhattan (NY), Miami, Florida, (specifically South Beach), Aspen, Salt Lake City and Park City to name a few.

So, what's ahead for this year? What can we expect regarding our home values?

With the passage of the President’s economic stimulus package, and the increase in the amount of the conforming loans from $417,000 to $729,000, it appears that the upward flow of activity has already begun, and there probably will be more interest rate cuts in the next few months.

As always, the economy greatly influences real estate home pricing. Certainly, foreclosure news resonates in every area in the US. So, it is not surprising that the Westside has experienced some foreclosures. In Brentwood, seven homes and one condo were foreclosed in 2007, however that is exactly the same number as in 2006. In Beverly Hills there were four homes, and in Bel-Air, 11 homes. None in Beverly Hills Post Office. One of the biggest banks in the country, Bank of America, has a total of 139 properties in the entire state of California! How bad is that? According the Gary Watts, a noted real estate economist, California and Florida led the list in foreclosed properties, but as stated above, it is very much higher in specific regions of the state such as the San Bernardino and Riverside counties

In Watt's' 2008 Economic and Housing Report, which was presented to Coldwell Banker agents on February 4, he noted the enormous (and growing) wealth of Californians. Of the 390 billionaires in the US, 88 live in our state. And the Federal Reserve reports that consumers have $5 trillion in liquid cash "sitting in banks and savings and loans". and over the top 85% of the nation's wealth resides with the richest 15% of Americans (the bottom 50% of Americans hold only 3.5% of the nation's wealth). He also told us that 26% of the homes owned in the state of California are owned free and clear.

In balance, as we continue to see other local, regional and national areas experience steep price downturns, our Westside homes maintain strong values. It is just another sign of the enduring strength of our neighborhoods.

Other key indicators rise on the Westside

There were two seemingly unrelated events that underscore our Westside real estate strength: 1) My office, the Coldwell Banker Brentwood Court office, showed a 22% increase in home sales in January -- $50 million ('08) vs. $41 million over the previous January, and 2) a very excited and proud Westside buyer of a home that has been on the market for three months, had just purchased it Super Bowl morning. He asked if he could be there for the open house and proceeded to tell everyone who came into the property that day (80 different parties) about the wonderful purchase he had made and a number of them said… “Gee I wish I had known about this house, I would have bought it!” Bottom line: We are seeing significant strength in the market and the buyers are out there!

Green tip of the week.

For those of you who use fabric softener sheets.. here is some news:

Most commercial dryer sheets are impregnated with all sorts of toxic chemicals including Benzyl Acetate, Benzyl Alcohol, Chloroform and Linalool; none of which are good for the environment - or you. Some of these compounds are known carcinogens.

Aside from the chemicals in the sheets winding up in your clothing and therefore next to your skin, when heated, the fumes are also toxic. If you're looking for a greener alternative to dryer sheets; here's a couple of ideas that are very easy and cheap to do:

--Fill a small cloth drawstring bag with dried aromatic herbs or flowers and throw in the dryer with your clothes. Make sure the bag is tied securely of course :)

- A few drops of fragrant essential oil on a small cloth added to the dryer load will also do the trick. Essential oils are highly concentrated, so don't go overboard, the heat will release more fragrance than what you can detect when initially applying a few drops to the cloth.

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The SchifferLine

Timely real estate news from Carole Schiffer                                    25 January 2008 _____________________________________________________________________________________________________________________

Do we live in our own country?

What does this mean exactly? Is the Westside its own little piece of the world? Prices and the real estate market on the Westside seem to be in a country of its own. Are we being impacted by the real estate and lending markets, stock market and the overall malaise of the economy? Absolutely. But not -- at least at this point in time – as has been felt in other parts of the country or state.

What does this mean exactly? Is the Westside its own little piece of the world? Prices and the real estate market on the Westside seem to be in a country of its own. Are we being impacted by the real estate and lending markets, stock market and the overall malaise of the economy? Absolutely. But not -- at least at this point in time – as has been felt in other parts of the country or state.

Will this change -- who knows -- but I can tell you while it is a little quieter than it has been, there is still a good amount of activity out there.

Houses are still being sold, sometimes with multiple offers….open houses are still being well attended. Sometimes we are seeing as many as 50 groups coming through on a Sunday afternoon, and they are not all “looky loos” or curious neighbors -- they are buyers looking to make a purchase! Inventory is up and for now it appears that prices are holding steady, and as always…property that is well positioned is selling and will continue to do. So, in our little world, we’re doing better than most. And that’s good.

2007 really wasn't a bad year for Westside real estate. As I mentioned in my Quarterly Newsletter at the end of last year, overall prices and sales volumes on the Westside held in 2007. According to the MLS for the month of December, there was an increase of 13% in the median sales price -- over 2006 -- for Beverly Hills, an 18% increase for Beverly Hills Post Office, and median sales prices were essentially even for Bel-Air and Brentwood compared 2006. In an economy fraught with horror stories of double-digit declines in sales and home prices nearing 20%, you have to step back and say, "well, we're not too bad after all." Sales volume for all four areas was up a modest 1.5% -- the total sales volume for 2007 was $3.256 billion . So, when you really step back and look at our Westside Country. There are few areas in the world where these volumes compare. I will have the January stats in the next SchifferLine.

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A Green Tip: Recycling Helps!

I have set up a recycling program in my office that I would like to extend to you. We are collecting all ink and toner cartridges as well as cell phones. They are sent to a company that recycles them and then donates the money to schools all over the state of California. If you would like to participate with me in this most valuable program, please give me a call at 310 442-1384, and I will be more than happy to stop by and pick up your items for recycling. We all need do our part to help out.

Smart homes are here now...

If you ever went to Disneyland as a kid, you saw the 'home of the future' (GE Theater)....sort of a Fred Flintstone version of what the modern home would be like in 20-30 years. New and cheaper technologies and an intense desire of homeowners to make life easier (and more secure) drove this burgeoning industry to develop efficient, cost-effective 'intelligent homes'

The future is certainly here now -- and it's not science fiction. There are many small-to-large companies specializing in this field today (my son in law is involved in this in Bend, Oregon, and the activity there is off the charts!).. And the forecast is that homeowners will spend $1.3 billion on home intelligent systems this year, and will spend $10 billion in 2010. This includes sales for home security, lighting, and temperature controls as well as home entertainment systems. It is not about upgrading your individual systems to more state-of-the-art technology, it is about integrating the systems into a comprehensive management program that is designed to fit everyone's needs within the household.

These systems add greatly to the valuation of your home, and my experience has shown that when a home is on the market with a 'working, easy-to-use' system, it greatly increases the value and ability to sell the property more quickly. The trouble is that many homeowners have some type of 'intelligent' system installed (speakers systems is an example) -- that don't work. So, if you have a system installed already, make sure it works. If you really want to enhance your living environment, then I highly recommend you look at an Intelligent Home system.

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Lowest mortgage rates on fixed loans in four years!

It was reported on Thursday that fixed rate mortgages moved lower and actually are now at their lowest levels in four years. This translates into more buying power for anyone in the market to buy a home. In addition, sellers with properly priced homes will have more buyers looking at their property and therefore a higher probability of a sale. This is great news for both buyers and sellers!

There are some components that are a part of the economic stimulus package that will be great for our area, but until the package is approved, we obviously won’t know what exactly we will be dealing so.. so that will be covered in the next SchifferLine as well.

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Thank you to all of you who let me know that you are reading the SchifferLine and care. It is always such fun to meet you and have various lines from past SchifferLines’ quoted back to me or to be asked how my niece is enjoying USC – she has settled in now…though I am still trying to get out of the “clothes-washing thing” and very glad that she will soon have her own car!. Or where is my next trip? I also want to thank who ever it was that wrote and made some suggestions and corrections about the hyphenation of Bel-Air. It is wonderful to know you care .Keep all of your cards, letters and calls coming!

Carole

Broker/Agent does not guarantee the accuracy of square footage, lot size or any other information concerning the condition or features of property provided by the seller or obtained from public records or other sources, and the buyer is advised to independently verify the accuracy of that information through personal inspection and with appropriate professionals.

Call Carole at (310) 442-1384

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