The Harbor Area Planning Commission will review a project proposal for Ponte Vista on Dec. 2 starting at 4:30 at the Boys and Girls Club, 100 W. 5th St. in San Pedro.

The project currently proposes 1,950 units on the site, formerly a U.S. Navy housing facility covering 61.5 acres. City planning staff has rejected that unit count as being too high, however the Daily Breeze reported on November 24 that the developer seeks to go ahead with the unit count.

On Monday November 17, 2008 the Department of Housing and Urban Development (HUD) published in the Federal Register the Real Estate Settlement Procedures Act (RESPA) final rule. There will be a one year implementation period for the new standard Good Faith Estimate and HUD-1 forms before mandatory compliance begins on January 1, 2010.

Industry is permitted to use the new forms at any time prior to January 1, 2010, but would be immediately responsible for compliance with all regulations pertaining to the new forms. Other aspects of the new rule, ... Read More »

On November 21, 2008, NAR urged the Federal Reserve Board to apply special scrutiny to the application of GMAC to become a bank holding company. In a letter to Board Chairman Ben Bernanke, NAR President Charles McMillan reinforced the importance of maintaining the fundamental separation of banking and commerce activities.

The NAR ... Read More »

The Los Angeles City Council will take on a series of measures designed to improve the business climate in the City of Los Angeles and provide relief to the City's business community. In a series of council motions spearheaded by Councilmember Grieg Smith, The Los Angeles Legislative Economic Action Plan (LEAP) seeks to remove restrictions on attracting and retaining businesses, stimulating job growth, and lowering the City's business taxes.

The multiple components of the LEAP program are outlined below. Councilmember Smith's Read More »

The Federal Housing Finance Agency yesterday announced a new loan modification program designed to reduce preventable foreclosures with a simplified, streamlined program to put struggling homeowners into mortgage they can afford. The goal is to have a uniform process for loan modifications that the majority of lenders and servicers will use. Participants include Fannie Mae, Freddie Mac, Federal Home Loan Banks, Hope Now participants, the U.S. Dept. of the Treasury, the Federal Housing Administration and the Federal Housing Finance Agency, and Wells Fargo.

To be eligible, the borrower must: have missed three or more payments; own and occupy the property as a primary residence; have not filed for bankruptcy; and be able to have their mortgage modified so their entire mortgage payment, including association dues, if applicable, is no more than 38 percent of their gross income.

Program details are still forthcoming, with a targeted implementation set ... Read More »

Come see proposed San Pedro Community Plan changes! This is your opportunity to share your ideas and discuss proposed changes on how to make San Pedro a better, more livable community. This event is coordinated by the Los Angeles Department of City Planning.

Please come by any time between 5:00 - 8:00 p.m. Parking is available in the Peck Park parking lot off Western Ave. between Summerland St. and Crestwood St.

DATE: Wednesday, November 12, 2008

TIME: 5:00 - 8:00 p.m.

LOCATION: Peck Park Auditorium, ... Read More »

Did you vote? Your vote counts, and it's what helps make our democracy great. Check out your favorite news sources for updates on federal and local elections. Some of our favorites include www.msnbc.com, www.cnn.com, and www.smartvoter.org.

In the days following the election, watch this space for news and analysis on important local elections in Los Angeles County and the South Bay that affect you. If you have any questions or comments about local elections and how you can make your voice heard as a REALTOR®, please contact SBAOR Government Affairs at (310)326-3010.

The Daily Breeze editorial page today endorsed Mina Semenza for a seat on the Gardena City Council in the November 4 election next week. While a crowded field of contenders is running for the seat, the Daily Breeze cited Semenza's independence and leadership skills and notes that "her record in business and nonprofit groups should provide a balanced view on how the city should move forward."

The Daily Breeze also notes her focus on revitalizing the community. "In her campaign, she emphasizes the need for revitalization, especially along blighted parts of Rosecrans Avenue, and making pro-active efforts to bring popular stores and restaurants to the city."