The National Association of Realtors (NAR) is full of great information at the moment about the ever growing and changing Real Estate market! Although custodians of the national data, they do of course release information relevant to local real estate markets.

They have just released their monthly pending home sales data and the news is excellent all round.

The Pending Home Sales Index has risen for the fifth consecutive month – the first time in six years since it has done that!

The index rose nationally 3.6% to 94.6 from an upwardly revised reading of 91.3 in May, and is 6.7% above June 2008 when it was 88.7. The last time there were five consecutive monthly gains was back in July 2003.

Locally here in the West of the nation the index rose 2.9 percent to 100.4 – here in Malibu there has been a marked increase in activity.

With affordability being great at the moment, it is important to keep an eye on NAR’s Housing Affordability Index as an indicator of what the market is doing. They have just released the latest for the index and it stood at 159.2 in June, down from record peaks in recent months but it remains 36.6% points above a year ago. Under these conditions the typical family would devote 15.7% of gross income to mortgage principal and interest, well below the standard allowance of 25%. Now is definitely the time to buy, despite lending being tight!

Here is a video from NAR on the latest data:

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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Judy Kunisaki – CA DRE license 00963582

Oscar winning famous actress Sally Field is selling her Malibu Mansion for a whopping $6.95 Million according to the LA Times Hot Property Section.

The luxurious ocean view property contains five bedrooms, six bathrooms amongst 5,964 square feet of living space. The home it situated on a three acre secluded lot and contains its own guest quarters. Outside there is a pool, lighted tennis court, three stall horse paddock and access to riding trails and over 2,000 acres of park and woodlands.

Inside there is a gorgeous master suite situated in its own wing, media room as well as upgraded kitchen. Details on the listing are still sketchy but what is for sure is that ocean views on a three acre lot for only $6.95 million is a bit of a bargain! It will surely be snapped up quickly.

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

History was made today when President Barack Obama signed into law the 2009 American Recovery and Reinvestment Act which was passed by Congress on February 13th.

This comprehensive bill aims to stimulate America’s economy for the future. The $780 billion bill is made up of tax cuts, mostly for 2009 and spending programs in 2009 and 2010. Tax cuts make up approximately 35% of the bill.

Naturally there are some provisions for housing programs which we will detail here! After all, we are focused on what effects this will have on the Real Estate market both nationally and locally here in Malibu.

There is the very much welcomes modification of the Homebuyer Tax Credit which is for a home purchased between January 1st 2009 and December 31st 2009 worth $8000 to the purchaser. The requirement to repay has been eliminated and if any portion of the credit is unused when claimed on the personal tax return of the purchaser, then the purchaser will receive the difference by way of a check! This is great news!

Also, FHA, Fannie and Freddie loan limts will remain the same as 2008 limits – this was agreed with the provision for the HUD Secretary to make small emergency provisions on small local areas if needed.

Additionally $2 billion has been made available for Neighborhood Stabilization programs where communities decimated by foreclosures can purchase those homes and then make them livable and use them to assist individuals looking for a home in that area who earn below 120% of the areas income level.

In a housing related theme the bill also made provisions for investment in transport and infrastructure for communities to ensure America remains the front runner in having a mobile, educated and technology based population.

Here in Malibu, like most communities it will take some time for the Bill’s effects to come into play. Its passage into law will be watched with interest by all.

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

With the recent fires and fire threats environmentalist groups have planned to restore balance to the Santa Monica Mountains through various methods, including replacing non-native plants and trees with native ones and reforesting different areas, all in the aim of reducing the fire risk as well as the risk of landslides.

Both the Mountains Restoration Trust and TreePeople, have worked together for around the past 10 years to preserve and enhance the natural resources of the Santa Monica Mountains. This month they organized a volunteer event where reforestation techniques were taught alongside the reasons why the mountains need to be restored due to the cattle ranching and film studio productions of the last few decades which have damaged the local environment and ecosystems. The project aims to restore many native oaks using acorns from local trees as well as local grasses.

The project aims to preserve the areas natural habitat for generations to come. In the past 10 years the organizations estimate they planted thousands of trees, but due to wildfires and animals eating saplings, the project is ongoing.

The Santa Monica Mountains are just one reason why people decide to buy a property in Malibu.

If you are interested in purchasing a property in Malibu, Pacific Palisades or the surrounding southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

 Memorial Day tributes and ceremonies are being held across the county as families and friends remember those who are lost.

In Malibu the tree day weekend is usually a time when beachgoers decend on the city and soak up the sun! Last year around 190,000 people attended the beaches over the three days and with good weather expected today it is sure than many will take advantage of that extra day off!

The National Association of Realtors President Dick Gaylord gave a special Memorial Day 2008 message thanking our armed forces for their contributions to our freedom.

If you are going to Malibu to the beach for Memorial Day then please check out our resources detailing information on beaches including surfing reports and weather.

For professional Real Estate advice on purchasing a home in Malibu or the surrounding area to enjoy its beauty and amenties all year round then please contact Judy Kunisaki on 310-317-8396.

Nationally there is concern about the housing downturn, however in the luxury real estate market and for properties on the beach, prices are steady, if not rising in popular areas.

Areas such as Carbon Beach near Malibu are dubbed "Billionaires Beach" due to its high end homes with matching high end price tags.

However, where prices are not rising they are holding steady compared to inland areas. The ocean front in the west side area is not the only section of coast benefiting from this phenomenon, other sections of the southern Californian coast are seeing similar trends. Long Beach and Huntingdon Beach to name just a couple are seeing reductions but not at the level inland.

With sellers seeking out that elusive buyer pricing is key as well as good marketing. There are some beach front homes out there which are bargains compared to their pricing 2 or 3 years ago.

People who own beachfront Real Estate generally do not feel the need to offload their asset as often as other owners of properties inland so turnover is usually low and as demand has always generally outstripped supply – with limited coastal areas which can be developed - prices have always generally commanded a premium.

If you are considering purchasing a property on the beach in Malibu or the Westside area in general please contact Judy Kunisaki for professional real estate advice on 310-317-8396.

Frank McCourt, owner of the LA Dodgers is not just happy with paying $33.5 million for Courney Cox & David Arquette’s beachfront mansion he has gone so far as to purchase the neighboring property for $19.5 million!

The original $33.5 million dollar purchase was listed in the Forbes top ten most expensive home sales of 2007! The new owner of the home must really like the beachfront lifestyle!

The LA Times broke the story on January 27th. Frank McCourt and his partner Jamie are LA Real Estate regulars.

The new property next door to their existing Malibu one is not quite as glamorous as the palatial architect designed home they purchased last year, the recent $19 million purchase is of more modest taste and is a 3 bedroom bungalow with 2 bathrooms arranged over under 2000 square feet with 66 feet of beach frontage, built in 1949.

They have already started work on renovating the property.

If you feel like having your own beach house on Carbon Beach or a neat bungalow in the Santa Monica Mountains with views over the Pacific Ocean feel free to contact Judy Kunisaki for professional Real Estate Advice. You can contact her on 310-317-8396 or by clicking on "Contact Judy" above.

The California Association of Realtor’s is holding the Southern California Homebuyer Fair in March.

The event is held on the weekend of March 1st and 2nd at the LA Convention center in downtown Los Angeles.

The event is aimed to teach buyers about homebuying and home ownership with over a dozen seminars presented in spanish and english.

Co-Sponsor of the event is the LA Times who have recognized CAR (California Association of Realtors) as the leading authority in California Real Estate.

Entrance to the event is free and doors open at 9am through to 6pm. Over 250 exhibitors are expected to attend from mortgage companies to home inspectors.

If you are considering a new home for the new year please call Judy Kunisaki on 310-317-8396 for Real Estate assistance in the Malibu area.

With much made of climate change in the press many consumers are looking for ways of going green. From purchasing hybrid cards to changing their light bulbs to new energy efficient models. All of these little things add up over time.

However, developers and architects are starting to wake up to the green-revolution and engineer homes to be environmentally friendly and conserve resources.

The buzz word of the moment is sustainability and homes need to be sustainable to be green. Currently there are two homes on the market in Pacific Palisades (as reported by the Palisadian Post) that are eco-friendly.

One of the homes was built in the spanish revival style and uses recycled materials for construction and aims to be green whilst not giving up any modern conveniences, the Pacific Palisades of course makes an ideal setting for the property.

The other property benefits from spectacular ocean views and shows that going green needn’t be difficult, just different.

The real estate market is ready for green properties and environmentally friendly sub-divisions are springing up all around the country.

Going green in these two properties does come at a price – $7.5 million and $4.3 million respectively. However it does show what can be done when modifying how you construct and design a home.

If you are interested in purchasing a property in Pacific Palisades or the surrounding area then please contact Judy Kunisaki on 310-317-8396.

The La Paz Ranch Development Agreement is currently being reviewed by the Planning Commission which held an open hearing last tuesday.

The agreement is to develop a 15.2 acre parcel of land within the city as a new 20,000 square foot City Hall and a 112,000 square feet office and retail center. Additionally permission is being sought for a 99,000 square feet structure to be built in case the primary plans are rejected.

After another hearing the commission will review the plans on December 18th and have a final vote on the project.

Despite which plan is chosen and approved the agreement is expected to be most beneficial to the residents of Malibu.