We have just closed our second large unit in The Blair House this year at over $1,000/sq ft, indicating the strength of the market. In the month of October we will close on over $14M of property, with enough transactions going into Escrow before the end of the year to make this quarter the best and the best year we’ve had. Complacency has its problems, and we can’t let down our guard for a minute. A number of our transactions have had their issues with lender requirements and underwriter demands, resulting in several deposits being released to our Sellers. No one is immune to the incessant demands of the underwriters, who show no loss of appetite for making demands that border on the absurd and ridiculous.
With manufacturing on the decline and exports falling, housing seems to be the only bright spot on the horizon large enough to launch a push out of The Great Recession. All eyes are focused on the November elections, and the financial cliff we face afterwards if Congress and the President cannot negotiate an agreement to adjust the tax increases and spending cuts set to trigger on January 1st of 2013. The President’s focus on the top 5% (household incomes over $250,000) is sure to register on the Westside of Los Angeles and the island of Manhattan than most areas of the United States.
Local City Elections –
Please vote for me for the upcoming Westwood Neighborhood Council, to be held at the Westwood?Recreation Center at 1350 Sepulveda Blvd on Sunday, October 8th from 9:00am to 3:00pm. And vote for my good friend Dean Abell as well!
National Elections –
Please vote for my good friend Bill Bloomfield for Congress, running as an independent against incumbent Henry Waxman. Congressman Waxman has been a dedicated public servant for thirty years, but it’s about time we clean house in Washington and address the issues that are so vital to our future and aren’t being addressed at all. I think we should clean house with all incumbents, regardless of party affiliation. Like it or not, they’ve left us in one helluva mess, and I’m tired of having this same conversation every two years. Trust me on this one; a new face in Washington from the 33rd District will help bring a fresh approach to running our country, which we so desperately need. Bill is the person to do this for us.