Venice Bits

The last few days it has been chilly in Venice.  Temperatures in the evening dropped to 40 degrees, but the wind is what put me into hibernation.  It's going up to 81 degrees so  I'll be defrosting all day.

On Nov. 4th. everyone can vote on Amendment 3.  Amendment 3 is basically a tax break for adding renewable energy sources to homes.  The changes and improvements you make will not affect the assessed value of residential real property.  For example,  any eco-friendly  renovation like solar panels on a roof for electric, metal roofs, or an improvement that hardens their homes against hurricanes.  For this to go into effect it must pass by 60% of the voters.  Sounds good to me.

In my last blog I mentioned the bail out of 700 billion by the  government.  At that time no specific goals were described.  National Institute of Realtors (NAR) is proposing 4 key issues.

1.  The current first time home buyer's $7,500 credit that has to be repaid, change it to not having to be repaid and expand it to include all primary residences of homeowners.

2.  Revise the FHA, Fannie Mae and Freddie Mac loan limits to reflect the Feb. loan limits. 

3.  Use a portion of the $700 billion that was provided to purchase mortgage-backed securities from banks to provide price stabilization for housing by

    a. Make credit more available to consumers and small business.

    b. Expedite the process for short sales.

    c. Expedite the resolution of banks and real estate owned properties. 

4.  Permanently prohibit the banks from entering real estate brokerage and management to protect the consumer and economy. 

Happy Halloween! Come trick or treating on Venice Ave.  I'll be there with my son who is dressed as an "egg"  and myself as a "chicken".  Our theme "What came first the chicken or the egg?"    

Also this weekend we have the Art Festival on downtown Venice Ave.  See you there!