Every New TV Show and Movie Coming To Hulu in March

Hulu is doing fine work in the movie department as it continues to compete with the likes of Netflix and Amazon for streaming supremacy. If you want to explore the catalog in more depth, the new month brings dozens of fresh titles to the platform. Binge away!

KINGPIN | METRO-GOLDWYN-MAYER

Oscars 2018 Street Closures in Hollywood

The 90th Academy Awards Ceremony will take place on March 4 this year. As any Hollywood denizen knows, the annual event results in numerous week-long street closures surrounding the Dolby Theater. The full list of closures, plus maps, can be found here. Below are the highlights:

From Monday, February 26 through March 7 at 6 a.m., Hollywood Boulevard will be closed between Highland Ave. and Orange Drive.

On Sunday, March 4 through Wednesday, March 7, the following streets will be closed:
Hollywood Boulevard between La Brea and Cahuenga avenues
Orchid Alley between Highland Boulevard and Las Palmas Avenue
Hawthorn Avenue between Orange Drive and McCadden Place
Selma Avenue between Highland Boulevard and McCadden Place
Orange Drive between Hollywood Boulevard and Hawthorn Avenue
Highland Avenue between Franklin Avenue and Sunset Boulevard
Wilcox Avenue between Franklin Avenue and Sunset Boulevard

Sunday, March 4, From 10 p.m. to 6 a.m. on Wednesday, March 7, there will be no parking or stopping on either side of Hollywood Blvd. or Hawthorn Ave. between Highland and Orange. The L.A. Department of Transportation has warned that if you park there, you’ll be towed, City News Service reports.

There will also be no parking or stopping on Sunday, March 4 from 6 a.m. to midnight on the following streets:
Franklin Avenue between La Brea and Highland avenues;
The north side of Hollywood Boulevard between Cahuenga Boulevard
and Vine Street
Hollywood Blvd between Highland Avenue and Cahuenga Boulevard
Hollywood Blvd between Highland and La Brea avenues
Highland Avenue between Franklin Avenue and Sunset Boulevard
Hawthorn Avenue between La Brea and Highland avenues
Orange Avenue between Hollywood and Sunset boulevards
Sunset Boulevard between Detroit and Vine streets
Wilcox Avenue between Franklin and Fountain avenues
McCadden Place between Yucca Street and Hollywood Boulevard
Yucca Street between Highland and Las Palmas avenues
The east side of Highland Avenue between Santa Monica and Sunset
boulevards
Outpost Drive between Franklin Avenue and La Presa Drive
Outpost Circle between Outpost Drive and Hillside Avenue
El Cerrito Place between Outpost Drive and Hillside Avenue
Fountain Avenue between Wilcox and Cole avenues
Cole Avenue between Fountain Avenue and Cahuenga Boulevard
De Longpre Avenue between Cahuenga Boulevard and Wilcox Avenue
Hawthorn Avenue between Highland Avenue and McCadden Place
Selma Avenue between Highland Avenue and McCadden Place
Cherokee Avenue between Hollywood Boulevard and Selma Avenue

On Sunday, March 4 from 11 a.m. to 6 p.m., there will be no parking or stopping on these streets:
The north side of Santa Monica Boulevard between Highland Avenue
McCadden Place
The south side of Santa Monica Boulevard between Highland and
Mansfield avenues
The north side of Santa Monica Boulevard between Vine Street and
Lillian Way
Highland Avenue between Sunset Boulevard and De Longpre Avenue
The east side of Highland Avenue between De Longpre Avenue and
Santa Monica Boulevard
Cahuenga Boulevard between Hollywood and Sunset boulevards
The west side of Cahuenga Boulevard between the northbound
Hollywood (101) Freeway off ramp and Hollywood Boulevard
The west side of Vine Street between the southbound Hollywood
Freeway off ramp and Sunset Boulevard;
The west side of Vine Street between Homewood and Fountain avenues
The west side of Vine Street between Lexington Avenue and Santa
Monica Boulevard
The north side Fountain Avenue between Highland Avenue and Vine Street
La Brea Avenue between Franklin Avenue and Sunset Boulevard
La Brea Avenue between Lexington Avenue and Santa Monica Boulevard

For transit users:

The Metro Red Line train will skip the Hollywood and Highland station on March 3 after 6 a.m. until March 5 at 6 p.m., according to Metro’s The Source. Metro advises using the Hollywood/Vine station instead.

Also, there will be detours for Metro Bus Lines 212, 217, 222 and 780 in Hollywood through Tuesday, March 6 at 6 a.m. Check out Metro’s Service Advisories page for details.

There will also be sidewalk closures on March 4, including Hollywood Blvd. near Highland Ave., save a pedestrian access point on the south sidewalk. More details via the Oscars here.

Story courtesy of We Like LA. 

Condo listed by Rodeo Realty’s Studio City agent Genevieve Mishlen featured on Curbed

Featured on Curbed is a West Hollywood condo listed by Genevieve Mishlen of Rodeo Realty Studio City.

The completely remodeled residence was one of five homes and condos that Curbed explored for their ‘Curbed Comparisons: What $1M buys around LA.’

“This very outgoing West Hollywood condo is located in the Leland Bryant-designed Granville Towers, which has an illustrious list of former residents that includes David Bowie and Rock Hudson,” said Curbed.

The 1,100-square foot unit with two bedrooms and one bathroom was compared to a Silver Lake Craftsman, a midcentury home in Glendale, a loft in Santa Monica, and a home in the Hollywood Riviera neighborhood of Torrance.

Built in 1930, the home also has a large living room, a formal dining room, a master with a walk-in closet, and a second bedroom that can be used as a guest room or office.

“Building amenities include a pool and landscaped grounds perfect for luxuriating,” said Curbed.

The condo is currently being offered at $999,000. For more details on this property, click HERE.

To read the ‘Curbed Comparisons’ article, click HERE.

Economic update for the week ending February 24, 2018

Stocks close higher for the week – Stock markets closed higher again this week despite volatility, which caused major swings each day.  By week’s end, markets rebounded for a second week in a row to make up much of the losses suffered in the previous two weeks as stocks moved closer to record highs just one month ago.  Most companies reported higher profits for the fourth quarter of 2017 and issued positive guidance–Walmart did not. Their online sales rose less than expected in the fourth quarter, causing the stock to drop about 13%. The  Dow Jones Industrial Average closed the week at 25,309.99, up from last week’s close of 25,219.38. It is up 2.4% year-to-date. The S&P 500 closed the week at 2,747.30, up from 2,732.22 last week.  It’s up 2.8% year-to-date. The NASDAQ closed at 7,337.39, up from 7,239.47 last week. It is up 6.3% year-to-date.

Treasury Bond Yields
 – The 10-year treasury bond closed the week yielding 2.88%,  almost unchanged from 2.86% last week. The 30-year treasury bond yield ended the week at 3.16%, up slightly from 3.13% last week. We watch bond rates because mortgage rates follow bond rates.

Mortgage Rates stabilize this week – The February 22, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.40%, up slightly from last week’s 4.38%. The 15-year fixed was 3.85%, up slightly from 3.84% last week. The 5-year ARM was 3.65%, slightly up from 3.63% last week.

Existing home sales nationwide decline 3.2% in January – The National Association of Realtors reported that total existing home sales dropped 3.2% in January from December’s home sales rate. The median price paid for a home in January was 5.8% higher than January 2017, the 71st straight month of year-over-year increases. The number of homes for sale represented a 3.4 month supply, down from 3.6 months last January. Existing home inventory in January was  down 9.5% from January 2017.  Extremely tight inventory has caused prices to increase and has begun to cause fewer sales. 
 
Have a great weekend,
Syd Leibovitch

Rodeo Realty’s Sunset agent John Galich lists former home of Red Hot Chili Peppers’ Anthony Kiedis

The former home of Red Hot Chili Peppers’ Anthony Kiedis is now available for $3.199 million. John Galich of Rodeo Realty Sunset has the listing.

Since entering the market, the property has been mentioned by the Los Angeles Times, The Real Deal, and DIGS magazine.

The three bedroom, four bathroom property recently underwent a renovation by Aux Architecture co-founder Brian Wickersham. The contemporary two-story home has a modern interior, Fleetwood doors, Poliform cabinets and surfaces of stone and wood. Retracting walls of glass offer a seamless indoor/outdoor setting.

The striking architectural also comes with a pool, spa, and city views.

For more information on this home, visit www.3120hollyridge.com.

https://www.youtube.com/watch?v=RTR2tPDym34

To read the LA Times article on this property, click HERE.
The Real Deal, HERE.
DIGS Magazine, below.

Weekend Events: February 23 – 25

Los Angeles provides no limit of things to do, some awesome and some not so awesome.

Since time is precious in this fast paced city we curate a list of things to do in Los Angeles for everyweekend that’ll help you decide how you want to spend your limited supply of attention (not to mention dollars!).

This weekend in L.A. (February 23-25) includes Bob Baker Day, Firecracker Festival in Chinatown, Airtalk’s FilmWeek: 2018 Oscar Preview, a Star Party at Griffith Observatory, Dine Out Long Beach Restaurant Week 2.0 and MUCH more.

Enjoy!

Friday February 23rd, 2018

1. The Urban Chuck Wagon: 100 Years of Food Truck Fare is a new tasting event coming to The Autry this Friday. Come sample dishes representing a century of food trucks and discover the historic flavors of items such as tamales and oyster cocktails, then experience the modern versions of food cart cuisine from contemporary chefs.

2. The Landmark Regent presents two screenings of The Room with Tommy Wiseau in person this Friday.

3. Head to The Madelin Garden in Pasadena for high tea and a performance of Oscar Wilde’s The Importance of Being Earnest. Happening Friday through Sunday. (DISCOUNTED) via Goldstar

4. Visit Angel City Brewery for a free live taping of the popular podcast Go Fact Yourself quizzes comedians, actors and musicians about topics they claim expertise in. If they slip up, real experts on hand share the actual facts.

5. Caltech Astronomy presents a free stargazing and panel event focused on The Milky Way’s crash course with Andromeda. No reservations are needed, the lecture is 30 minutes long and stargazing lasts 90 minutes. FREE

6. Greenbar Distillery will open up their facility for a tour of their organic distillery. The tour is one hour long and guests will have a chance to learn about the process of spirit making and taste some of the Greenbar portfolio.

7. 4th Fridays on 4th Street activates the “Retro Road” business district in Long Beach on the fourth Friday of every month from 6 to 9 p.m. through extended hours, dining specials, discounted merchandise, pop up shops, art shows, live music, double decker bus rides and more.

8.The world’s first premium cinematic VR chair, Voyager will screen three critically acclaimed short films at the Ace Hotel Downtown Los Angeles from February 19-25. Check for discounted ticketsbefore making your purchase. DISCOUNTED (via Goldstar)

9. Palm Springs Modernism Week returns February 15-25 to celebrate all things midcentury modern including architecture, art, interior landscape design and vintage culture.

10. QuiltCon 2018 takes over the Pasadena Convention Center from February 22-25 to see over 550 modern quilts on display, shop from specialty vendors and attend workshops and lectures led by experts.

Saturday February 24th, 2018

11. It’s Bob Baker Day at the historic Bob Baker Marionette Theater. The day pays homage to the famed puppeteer with a carnival like event featuring live music, entertainment, puppet-making workshops, round-the-clock puppet shows, a pop-up puppet museum and lots more. FREE

12. Meet travel celebs like PBS’ Rick Steves and Samantha Brown, learn how to pack well and decide where to go for your next trip during the Los Angeles Travel & Adventure Show at the Los Angeles Convention Center happening February 24-25. Check for discount tickets before making your purchase. DISCOUNTED (via Goldstar)

13. Stop by the Firecracker Festival in Los Angeles’ Chinatown for two days filled with friendly-competition, carnival games, food trucks and more.

14. Celebrate like it’s 1928 during Venice Arts’ Annual Speakeasy at the Townhouse. The Prohibition-era Speakeasy which dates back to 1915 will feature complimentary whiskey tasting, appetizers and desserts from local restaurants, along with a silent auction, raffle prizes and other surprises.

15. FLAX Project presents “The Dialectic of the Stars,” a free art festival taking place at five iconic venues in Los Angeles in the month of February. The festival will feature stimulating arts events incorporating cinema, music, mobile artworks, a concert of motorcycles, dance and more. This Saturday the event continues at L.A. Dance Project with a screening of The Pit and a performance by Noé Soulier. FREE

16. Milk Bar join forces with fashion label Reformation for a tasty pop-up at their Melrose location. From 11 a.m. to 7 p.m. swing by Reformation to shop through the sustainable brands collection and snack on Milk Bar’s cookies, truffles, and their new Crack Pie Latte. Customers with a Reformation purchase will also get a free treat so shop away!

17. SAP Chili Cook Off returns to Santa Anita Park in Arcadia for a tasty competition in the categories of red chili, green chili, salsa, CASI (Chili Appreciation Society) chili, people’s choice, and most tasted. Check for discounted tickets before making your purchase. DISCOUNTED (via Goldstar)

18. Playful Los Angeles lifestyle brand ban.do will host a huge warehouse sale on Saturday and Sunday with up to 70% off accessories, shoes, stationery, jewelry, clothing and tons more. Expect over 12K items on sale over the weekend. Their sale also takes place online.

19. One special Saturday every month the  Griffith Observatory hosts a free public star party to highlight interest in observing the cosmos. The event is a great chance to try out a variety of telescopes, check out visible objects of our solar system and exchange ideas and knowledge with amateur astronomers. FREE

20. My Valley Pass and The Valley Relics Museum presents the San Fernando Valley Film Tour. Explore the Valley in a comfortable limo bus and check out some of the most iconic filming locations like Marty McFly’s house in Back To The Future to the guitar shop in Wayne’s World.

21. de Plume Gallery presents SHADE, new works by New York Surrealist ClockWork Cros. Over 400 portraits of famous faces wearing sunglasses made of clocks will line the floor to ceiling of the gallery.

22. Second Class Citizens is a new monthly political comedy show featuring underrepresented but hilarious voices happening at the Nerdist School in Los Angeles.

23. NO TASTE FOR BAD TASTE comes to the A+D Architecture and Design Museum in DTLA featuring forty cult objects in lifestyle design selected by forty international figures from the world of arts. These 21st century pieces were designed by or for figures such as Ligne Roset, Fermob, Philippe Starck, Hermés and more.

24. There’s a sample sale hosted by Charlotte Stone at their Platform Pop-Up space this Saturday and Sunday featuring additional brands like VereVerto, loup, Seek Collective, BackBeatRags and Graf + Lantz.

25. The 7th Annual Whittier Area Classic Car Show will feature live music, vendors, food trucks, games, dragsters and some of the coolest cars you’ll see in SoCal. FREE

26. The 27th Annual Alhambra Lunar New Year Celebration takes place this Saturday with a dragon/lion dance, magic show, petting zoo, food booths, a grand drum roll and much more. FREE

Sunday February 25th, 2018

27. KPCC in Person Presents Airtalk’s FilmWeek: 2018 Oscar Preview at the Ace Hotel. Larry Mantle and the film critics of KPCC’s AirTalk will convene on the stage to discuss and debate this year’s Oscar nominees for a special taping in front of a live audience.

28. Learn the Olympic sport of curling during this Sunday at the Ice Station in Valencia. DISCOUNTED

29. Dine Out Long Beach Restaurant Week 2.0 will host specially priced prix fixe lunches and dinners at some of the city’s best restaurants. From February 25 through March 3. To launch this seven-day culinary event, there will be a free Chef’s Cooking and Tasting Kick-Off on February 24 from noon to 4 p.m. at Friedmans Home Experience. Stella Artois will be hand to offer complimentary beer samples, while Blue Marble Cocktails will offer some pours of their own.

30. FLAX Project presents “The Dialectic of the Stars,” a free art festival taking place at five iconic venues in Los Angeles in the month of February. The festival will feature stimulating arts events incorporating cinema, music, mobile artworks, a concert of motorcycles, dance and more. This Sunday the event concludes at Zebulon with a screening of Animal Glisse and multiple performances. FREE

31. Take in a few laughs at the end of the weekend at Cool Beans Comedy at the Ice House in Pasadena. FREE

32. There’s a Ferrari Cruise-In happening at the Petersen Automotive Museum this Sunday to celebrate Enzo Ferrari’s birthday. The cruise-in will take place on the 3rd floor of the museum’s parking structure and all cars, trucks, and motorcycles are welcome. Coffee and snacks will be free to all attendees.

33. Friendship Buddies is a weekly stand-up comedy show at the Verdugo Bar in Glassell Park. Come hangout in the back patio, enjoy a cocktail, and LOL to outstanding stand-up comedians in Los Angeles. FREE

34. Free admission at: Craft and Folk Art Museum (pay what you can) and Museum of Latin American Art

Schedule provided by We Like LA. 

Cherry Blossom Festivals Return In March

Spring is on our doorstep, and the corresponding flower blooms in Los Angeles County (such as they are) are right around the corner. While places like the Antelope Valley Poppy Reserve are likely to have a  down year due to lack of winter rains, there are still spots in the greater L.A.-area where you can enjoy a bit of colorful and fragrant fun. Case in point: Cherry blossom festivals.

To that end, if you’d like to check out some of the cherry blossom related events/festivals/walks available in and around our city, ‘We Like LA’ has compiled a handy list of locations, dates, times, and costs for you to peruse below. These include the South Coast Botanic Cherry Blossom Festival, The West Covina Cherry Blossom Festival, the Torrance Cherry Blossom Cultural Festival, and Cherry Blossom Festival in Monterey Park.

And of course if you need a little inspiration to plan a date, you can check out the video below showing off the cherry blossom bloom from last year (2017) at Descanso Gardens.

One quick note on Descanso for 2018: Instead of back-to-back weekends of cherry blossom festival events, this year they’re spreading out their talks/workshops/performances on various dates throughout March, while also offering ‘spring bloom walks’ every weekend in March and April.

Just something to bear in mind as you scan the list. In any case, enjoy!

2018 Cherry Blossom Festivals and Events in L.A.

South Coast Botanic Cherry Blossom Festival
Saturday, March 3, 2018, 11 a.m. to 4 p.m.
26300 Crenshaw Blvd.
Palos Verdes Peninsula, CA 90274
General Admission is $9, seniors and students are $6, and children are $4

2018 Cherry Blossom Festival in West Covina
Saturday, March 17, 2018, noon to 6 p.m.
112 Plaza Dr, West Covina, CA 91790
FREE

2018 Cherry Blossom Festival in Huntington Beach
Sunday, March 18, 10:30 a.m. to 5:30 p.m.
711 Talbert Avenue, Huntington Beach, CA
FREE

Torrance Cherry Blossom Cultural Festival
Sunday, March 25, 2018, 11 am.m. to 4 p.m.
Columbia Park, 4045 190th St, Torrance
FREE

2018 Cherry Blossom Festival in Monterey Park
Saturday, April 21, 2018, 11 a.m. to 7 p.m.
Sunday, April 22, 2018, 11 a.m. to 6 p.m.
Barnes Park, 350 S. McPherrin Ave., Monterey Park, CA
FREE

Spring bloom walks and cherry blossom-related events
various dates throughout March and April 2018
1418 Descanso Drive, La Cañada Flintridge, CA 91011
General $9. Seniors 65 and over/Students $6. Children (5 to 12 years) $4.
Keep in mind some special talks and workshops include additional costs.

Schedule provided by We Like LA.

Uber Launches 'Express Pool' In Los Angeles

A new Uber service is launching in Los Angeles today. It’s called Uber Express Pool, and it works by asking pool riders to walk to and from nearby pick-up and drop-off locations.

The POOL option already offers lower prices to riders who are willing to share their ride with other passengers. This typically takes a bit longer, as drivers take brief detours to pick up and drop off other riders along the way.

Express Pool seeks to streamline that process. Here’s how it works:

In the Uber app, Express POOL will appear as an option on the slider next to POOL. Choose Express Pool, then call for a ride. Within a few minutes, the app will assign you a driver and that driver’s ETA, just like with a standard uberX ride. However, the app will also provide you with walking directions to a nearby location where you will meet your driver. When your driver arrives, you’ll get in a car that may or may not contain other Express Pool passengers. When you get close to your destination you’ll be assigned a drop-off point and provided with walking directions from that spot to your final destination.

Uber Express Pool Photo: Uber

Ideally, this ride will be faster than your typical POOL ride because the driver is picking up and dropping off passengers stationed along the route. Uber also estimates that an Express Pool rides is 50 percent cheaper, on average, than POOL and as much as 75 percent cheaper than uberX.

This is potentially an ideal situation for commuters who regularly rely on ride sharing services to get to and from work, or for people going for a night out who don’t mind a brief walk.

It could also potentially alleviate some of POOL’s problems, such as an anecdote published in Motherboard in which a POOL passenger and their driver spent 40 minutes looking for another passenger who was seemingly lost “somewhere between a road closure and his hotel.” The author finally snapped, using the driver’s speakerphone to ask the passenger why he couldn’t just walk to a nearby gas station.

Uber first launched this service in San Francisco and Boston in late 2017. The service launches in San Diego, Denver, and L.A. today, while Miami, Philly, and D.C. will get it tomorrow.

Of course, there’s another service that already functions very much like Uber Express Pool: the Metro system, where standard fare is always $1.75, with free transfers within two hours. It may not always be as reliable as calling a car, but it’s pretty cheap!

Article courtesy of We Like LA.

Video: LAX's Automated People Mover

LAX’s Automated People Mover (APM) is part of the Landside Access Modernization Program (LAMP), which is a multi-step plan to make it easier for us to get around the busy airport without relying solely on cars or buses.

According to Los Angeles World Airports, the APM is an electric train system that runs 2.25 miles on an elevated guideway. There are three stations inside the terminal loop, and three outside. There will be nine trains total, each with four cars, capable of carrying 200 passengers and their belongings at a time. They’ll show up every two minutes, shuttling passengers between terminals, to car rental agencies, or to Metro. The entire journey will take each train about 10 minutes.

Construction on this project will begin in 2018, with a projected completion date in 2023. Under that timeline the People Mover will be functioning long before the 2028 Summer Olympics, which is visually referenced in the video. 

Story courtesy of We Like LA.

Economic update for the week ending February 17, 2018

Key index shows inflation picking up – The Labor Department reported on Wednesday that the Consumer Price Index rose 0.5% last month. Economists had expected a 0.3% jump. Core CPI, which strips out food and energy as they tend to be more volatile, rose 0.3% in January. Although that was the largest month-over-month increase since last January, the year-over-year increase was just 1.8%. After 10 years of inflation below the target level, this report shows that fears of inflation normalizing may be sound. Low inflation has kept interest rates at historically low levels for a decade. Higher inflation would cause higher interest rates. Bonds and mortgage securities reacted negatively to the report and interest rates rose sharply after the release. The CPI has been so stable for so long, at such low inflation levels, that it’s something we have not been talking about. As inflationary pressure picks up, it is an index we will be paying a lot of attention to.

Stock markets rebound this week – Stocks rebounded from two weeks of steep declines to close the week making up about half of the losses seen in the previous two weeks. Investors, while still fearful of how higher interest rates and labor costs will effect profits, embraced that these factors are a symptom of a more robust economy. They felt that while interest fears are rational, the market oversold and over corrected. Stocks gained about 4.3% for the week, and all major indexes are higher than they were at the start of 2018. The Dow Jones Industrial Average closed the week at 25,219.38, up from last week’s close of 24,190.90.  It is up 2% year-to-date. The S&P 500 closed the week at 2,732.22, up from 2,619.55 last week. It’s up 2.2% year-to-date. The NASDAQ closed at 7,239.47, up from 6,874.49 last week. It is up 4.9% year-to-date.

Treasury Bond Yields –  The 10-year treasury bond closed the week yielding 2.86%,  up from 2.83% last week. The 30-year treasury bond yield ended the week at 3.13%, unchanged from 3.14% last week. We watch bond rates because mortgage rates follow bond rates.Mortgage continues to rise – The February 15, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.38%, up from last week’s 4.33%. The 15-year fixed was 3.84%, up from 3.77% last week. The 5-year ARM was 3.63%, up from 3.57% last week.

Retail sales weak in January – The Commerce Department reported that retail sales unexpectedly decreased 0.3% in January. Economists had expected a 0.2% increase. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, was reported to have increased at a 3.8 percent annualized rate in the fourth quarter. The economy grew at a 2.6 percent pace in the final three months of 2017, and holiday spending in 2017 was 4.9% higher than 2016.  After a strong holiday season, the largest decline in retail sales in 11 months took experts by surprise.

California home affordability slightly higher in fourth quarter over third quarter of 2017 – The California Association of Realtors released their housing affordability survey for the fourth quarter of 2017. According to the report, 29% of California homeowners could afford to purchase a $550,990 median priced detached home in the fourth quarter of 2017.  That was up from 28% in 3rd quarter, but down from 31% in the fourth quarter of 2016. The minimum income required to qualify for a median priced home was $111,260. The payment was $2,780 a month with a 4.17% mortgage. 37% of California households could afford to purchase a condo, or townhouse.  It took a minimum income of $90,810 to qualify for a median price of $449,720, with a mortgage payment of $2,270. The Los Angeles region had a higher affordability rate than the state as a whole. 31% of Los Angeles households could afford to purchase a median priced detached home compared to 29% statewide. Interest rates are higher in the first quarter of 2018, so I’d expect affordability to be even lower now.

Home sales down in numbers, but prices higher in January – The California Association of Realtors reported that existing home sales in California totaled 388,800 in January on a seasonally adjusted basis. This represented a drop of 7.6% from December’s pace, and a drop of 2.9% from last January. We watch year-over-year because January closings are often much lower than December. The statewide median price paid for a home in California was $527,800, up 7.3% from January 2017. The unsold inventory index rose to a 3.6-month supply from just a 2.5-month supply of activity listings in December. It was 3.7 months in January 2017.

Have a great weekend!
Syd