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Wednesday, October 31, 2012
NOVEMBER 2012 San Diego Events
Thursday, October 25, 2012
September Pending Home Sales Show Slight Improvement
WASHINGTON (October 25, 2012) - Pending home sales were little changed in September but remain well above a year ago, according to the National Association of Realtors®.
The Pending Home Sales Index,* a forward-looking indicator based on contract signings, edged up 0.3 percent to 99.5 in September from 99.2 in August and is 14.5 percent above September 2011 when it was 86.9. The data reflect contracts but not closings.
Lawrence Yun , NAR chief economist, said pending home sales continue to hold a higher ground. "Home contract activity remains at an elevated level in contrast with recent years, but currently appears to be bouncing around in a narrow range," Yun said. "This means only minor movement is likely in near-term existing-home sales, but with positive underlying market fundamentals they should continue on an uptrend in 2013."
Pending home sales have risen for 17 consecutive months on a year-over-year basis, leading to the solid recovery seen in closed existing-home sales this year. In September all regions were showing double-digit increases in contract activity from a year ago with the exception of the West, which is constrained by limited inventory.
The PHSI in the Northeast rose 1.4 percent to 79.3 in September and is 26.1 percent higher than a year ago. In the Midwest the index fell 5.8 percent to 89.5 in September but is 19.3 percent above September 2011. Pending home sales in the South increased 1.0 percent to an index of 111.5 in September and are 17.6 percent higher than a year ago. In the West the index rose 4.3 percent in September to 106.9, but is only 0.8 percent above September 2011.
Housing affordability conditions are forecast to remain favorable through next year, with the 30-year fixed-rate mortgage staying near record lows for the balance of this year but gradually rising to 4 percent in the second half of 2013.
Completed existing-home sales in 2012 will total close to 4.6 million, an increase of 9 percent, and are projected to rise about 9 percent next year to nearly 5.1 million. With notably lower housing inventory, the national median existing-home price is expected to increase 6 percent this year and 5 percent in 2013.
The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.
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* The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.
An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales; it coincides with a level that is historically healthy.
courtesy of: http://www.realtor.org
Mortgage Rates Will Rise Next Year
CHICAGO (MarketWatch)—After reaching record lows in 2012, mortgage rates are expected to creep up slowly in the year ahead, the Mortgage Bankers Association predicted on Tuesday.
Rates on the 30-year fixed-rate mortgage are expected to average 3.8% in the fourth quarter of 2012, rising to 3.9% in the first quarter of 2013 and eventually rising to an average 4.4% by the fourth quarter of next year, the MBA said. The mortgage is expected to average 4.1% for all of 2013.
Granted, in these times, mortgage rates are increasingly difficult to predict. So take this forecast with a grain of salt.
Last year, the MBA rate forecast was way off. It predicted the 30-year fixed-rate mortgage would average 4.4% for 2012. Instead, rates plunged and hit an estimated annual average of 3.8%, spurring a flurry of refinance activity.
Underlying factors that economists would normally look at as those driving interest rates, including inflation, aren’t driving rates now, said Jay Brinkmann, MBA’s chief economist, during a Tuesday briefing with reporters at the association’s annual Convention & Expo in Chicago. Instead, it was uncertainty in European economies and actions taken by the Federal Reserve that moved rates so low this year.
In fact, continuing purchases of mortgage-backed securities through the Federal Reserve’s QE3 program will likely keep the 30-year fixed-rate mortgage below 4% through the middle of 2013, he said.
“The Fed has committed to buying $40 billion of agency mortgage-backed securities per month until the labor market shows significant signs of improvement,” he said. “Based on MBA’s originations estimate, the Fed will be buying 36% of all mortgages originated in 2013, and a much higher percentage of those swapped into agency mortgage-backed securities.”
Despite the Fed commitment to an open-ended purchase program, the MBA forecast assumes the program will last 12 to 18 months, said Mike Fratantoni, MBA’s vice president of research and economics. The “aggressiveness, open-endedness and focus on the mortgage market” that came with QE3 led to the highest refinance volume in four years, he said.
In the meantime, high refinance activity will likely carry over into next year.
“Applications that come in November we aren’t going to see close until sometime after the first of the year,” Brinkmann said. The “long tail of refis” will extend through the middle of the year then drop off, he said.
Indeed, things are looking at least somewhat better for the industry.
Mortgages to finance a home purchase are expected to rise by 16% in 2013, compared with 2012, as the economy grows modestly and more owner-occupied home sales occur, as opposed to cash purchases by investors, Brinkmann said.
Also helpful to driving home purchases are the 1.5 to 1.8 million private-sector jobs expected to be created next year, though the growth is below what would be needed for a “robust” home-sales market, he said.
Single-family housing starts are expected to reach 586,000 in 2013, up from 527,000 in 2012, according to the forecast. The median existing-home price is expected to rise to $186,000 next year, from $179,400.
While the improvement may be slow, it’s also worth pointing out that the country has added 4.8 million renter households since the end of 2006, while losing 1.7 million owner households, according to the MBA. And that net household growth could spell home-buying demand in the future.
“People with jobs are moving on their own some place,” Brinkmann said. And while some of them might be renters now, “eventually we would expect some of that household formation to go into homeownership.”
courtesy of: http://articles.marketwatch.com
San Diego’s Halloween Flicks Happening
Halloween is fast approaching, and there’ll be plenty of horror— and sometimes horrifying—films screening around town. Most of these are costume optional, so, you know, go nuts, but maybe call ahead before you show up as sexy Big Bird.
On the big screen, appropriately, is Bigfoot: The Lost Coast Tapes, opening Friday, Oct. 26, at Reading Cinemas Gaslamp. Zombies and vampires have cut into Bigfoot’s popularity, but this found-footage horror flick could change that. You know what they say about monsters with big feet, right?
Tim Burton’s Edward Scissorhands is sort of horror-lite and features the final performance of horror legend Vincent Price. The movie, starring Johnny Depp as the teenager who’s always running with scissors, screens at 8 p.m. Wednesday, Oct. 24, at The Pearl Hotel in Point Loma. Also on Wednesday is a Frankenstein / Bride of Frankenstein big-screen double feature, at several area theaters, starting at 7 p.m. Visit fathomevents.com for details, and to find out about RiffTrax Live, who’ll skewer Birdemic, one of the worst films of all time (and, yes, an homage to Hitchcock’s The Birds), at 8 p.m. Thursday, Oct. 25.
Speaking of The Birds, it’ll screen at 8 p.m. Thursday, Oct. 25, through Saturday, Oct. 27, at Cinema Under the Stars in Mission Hills, and at 7 p.m. Monday, Oct. 29, at Reading Town Square in Clairemont. And speaking of Hitchcock, Psycho will screen at 7 and 10:30 p.m. Saturday, Oct. 27, and at 7 p.m. Tuesday, Oct. 30, at Reading Cinemas Gaslamp.
And there’s more. So much more. The San Diego Independent Filmmakers Consortium holds its second Pitchfest at 6:30 p.m. Friday, Oct. 26, at the Four Points Sheraton, and, this time, they’ll screen half a dozen locally made horror films, curated by Horrible Imaginings frontman Miguel Rodriguez. Hit ’em up on Facebook to RSVP. If that’s not your thing, catch Corpse Bride (yet more Burton) at 7:30 p.m. that evening at the Full Moon Drive-In in Pacific Beach. On Saturday, Oct. 27, two classic silent films will screen at New Village Arts Theatre in Carlsbad, complete with live accompaniment; the 1920 version of Dr. Jekyll and Mr. Hyde is at 7 p.m. followed by Nosferatu the Vampire at 11 p.m.
If you’re the sort who can’t shut up at the movies, swing by Space 4 Art in East Village at 6:30 p.m. Tuesday, Oct. 30, for TrashTalk Theater. Honcho Jason Ponce will screen Hellraiser, with which you can interact via your tablet / smart phone / Apple IIC. This’ll be a really cool event.
And on Halloween, there are plenty of options. Sea Rocket Bistro in North Park will offer up Young Frankenstein and the original version of The Wolfman, starting at around 7. That pesky Burton is back at The Pearl with Beetlejuice at 8 p.m., and later that night, you can catch the San Diego premiere of House of Ghosts at 10 p.m. in the Seuss Room of UCSD’s Geisel Library. Added bonus—the audience will participate with live scoring. Instruments will be provided.
Zombies, despite their massive popularity, are sorely lacking in this column. Not to worry: On Friday, Oct. 26, True Love Zombie, a film shot in Lakeside, will enjoy its world premiere at midnight at the Ken Cinema. This is a great way to support both indie filmmaking and the undead. Lastly, at 7 p.m. Saturday, Oct. 27, local writer Glenn Kay will be doing a signing of the latest edition of his book Zombie Movies: The Ultimate Guide at Barnes & Noble in Mira Mesa. The book is by my desk at all times. Happy Halloween, everyone.
Opening
Chasing Mavericks: A surfing movie, surprisingly co-directed by Michael Apted and Curtis Hanson, about a teen who turns to crusty surfing legend Gerard Butler to help him survive a massive wave.
Cloud Atlas: This epic production is almost three hours long and stars Tom Hanks, Halle Berry, Jim Broadbent and Hugo Weaving in multiple roles. It consists of six stories that span different time periods, with a running storyline about reincarnation and the effects of our actions on future generations.
Fun Size: A teenage girl loses track of her little brother while attending a Halloween party thrown by a really cute boy.
How to Survive a Plague: Documentary about ACT UP and TAG (Treatment Action Group), two organizations whose efforts helped made it possible for millions of people to survive HIV.
Nobody Walks: Things get weird when New Yorker Olivia Thirlby moves in with Southern California’s John Krasinski and his family. Co-written by Lena Dunham.
Pusher: A drug dealer’s life spirals after a botched deal. This is a remake of the 1996 film directed by Drive’s Nicholas Winding Refn. San Diego Italian Film Festival: Still going strong, this year’s SDIFF will kick off this Friday and run until Sunday, Nov. 11. Details can be found at sandiegoitalianfilmfestival.com.
Silent Hill: Revelation 3D: Very few video-game adaptations are successful enough to demand a sequel. The first one looked terrific—let’s hope this sequel follows suit.
Simon and the Oaks: Swedish film about two boys, one of whom is Jewish, growing up during WWII.
Somewhere Between: Documentary about four girls who were adopted as babies in China and brought to the U.S.
Trade of Innocents: Mira Sorvino and Dermot Mulroney are a married couple rescuing trafficked children in Southeast Asia.
One Time Only
Caddyshack: The only good thing about golf. Screens at 7 p.m. Wednesday, Oct. 24, at Sea Rocket Bistro in North Park.
Suds County USA: This locally made documentary looks at all the beer being brewed here in San Diego County. Screens at 9 p.m. Wednesday, Oct. 24, at Whistle Stop Bar in South Park. Free.
Marnie: Sean Connery marries Tippi Hedren despite her psychological issues and kleptomania. Screens at noon and 7 p.m. Thursday, Oct. 25, at Reading Cinemas Town Square in Clairemont.
Ruud Van Empel: Beyond Innocence: A companion piece to the museum’s van Empel exhibit, this documentary was directed by the artist’s brother, Erik. Screens at 7 p.m. Thursday, Oct. 25, at the Museum of Photographic Arts in Balboa Park.
Jurassic Park: Velicoraptors were supercool for a while, but these days T-rexes are back on top. Screens as part of the Ken Cinema’s anniversary celebration at noon, Saturday and Sunday, Oct. 27 and 28.
Not a Still Life: Local filmmaker Roberta Cantow’s latest effort is about Steve Stone, a devout Jewish man who’s also gay and in longtime mourning over the death of his partner from AIDS. Screens at 2 p.m. Saturday, Oct. 27, at The Vine at the Bernardo Winery in Rancho Bernardo.
Shrek: Mike Myers voices the not-so-jolly green giant at 7:30 p.m. Saturday, Oct. 27, at Full Moon Drive-In in Pacific Beach.
The Rocky Horror Picture Show: Just, you know, because. Screens at midnight, Saturday, Oct. 27, at the Ken Cinema.
Moonrise Kingdom: Set on an island off the coast of New England in 1965, this new one about two 12-year-olds who fall in love and run away from the dysfunctional adults in their lives will be adored by those who worship at the altar of Wes Anderson. Screens at 6:30 p.m. Monday, Oct. 29, at the Central Library, Downtown.
18 Days in Egypt: This is a collaborative documentary about last year’s monumental events in Egypt, sourced almost entirely from videos and info taken by people on the ground and in the middle of it. Screens at 7 p.m. Monday, Oct. 29, at the Great Hall at UCSD.
Now Playing
Masquerade: Korean film about a king’s body double who must hold his country together after the ruler is poisoned.
Tai Chi Zero: Steampunk, meet martial arts. Martial arts, meet steampunk. Now make nice. No, actually, don’t. Alex Cross: We’re used to Morgan Freeman in the role of this famous detective. Now the part is played by Tyler Perry. Another obvious sign of the impending apocalypse.
Bringing Up Bobby: Famke Janssen’s directorial debut stars Milla Jovovich as a European con artist who moves her young son to Oklahoma in hopes of escaping her past.
Least Among Saints: Martin Papazian wrote, directed and stars in this film about a tough-luck veteran who tries to help his 10-year-old neighbor find his missing dad.
The Oranges: Two families who’ve been friends for years find their bond put to the test when the daughter (Leighton Meester) of one couple stars having an affair with the husband (Hugh Laurie) of the other.
Paranormal Activity 4: Now with more paranormal.
Smashed: Mary Elizabeth Winstead is very good as the alcoholic teacher trying to get sober, but there’s little in this that you haven’t seen before.
War of the Buttons: Two groups of kids must put aside their differences to hide a Jewish girl during WWII. Ends Oct. 25 at the Ken Cinema.
Student of the Year: Bollywood high-school romance acreening at UA Horton Plaza about two kids who fall for each other just as a year-end academic competition gets underway.
This Guy’s In Love with You Mare: Filipino flick screening at UA Horton Plaza about a guy who tries to get his ex-girlfriend back when he sees that she might be falling for his best friend.
Seven Psychopaths: Martin McDonagh returns with another violent comedic drama. Colin Farrell stars as Marty, an L.A. screenwriter surrounded by psychopaths such as Sam Rockwell, Christopher Walken, Woody Harrelson and Tom Waits. Like McDonagh’s debut, In Bruges, this one has an emotional heart to it, despite the blood and guts.
Argo: Ben Affleck directs and stars in this take on the 1979 Iran hostage crisis, and believe it or not, it’s gonna be a Best Picture contender.
Atlas Shrugged: Part Two: Paul Ryan porn, the sequel.
Decoding Deepak: This look at Deepak Chopra was made by his own son, Gotham, who chronicled a year of his dad’s life.
Here Comes the Boom: High-school biology teacher Kevin James becomes an MMA cage fighter in order to keep his school’s extracurricular activities afloat.
The Paperboy: Lee Daniels’ follow-up to Precious is a seamy, seedy take on Peter Dexter’s novel. Zac Efron falls for older woman Nicole Kidman, who’s working with his older brother, intrepid reporter Matthew McConaughey, to get her convicted-murderer boyfriend out of jail. Ends Oct. 25 at Hillcrest and La Jolla Village cinemas.
Sinister: Novelist Ethan Hawke stumbles upon footage that explains how a family was murdered in the very house in which he’s working—which, of course, puts him in serious danger, too.
The Thieves: Korean thriller about a group of expert thieves going after a massive diamond worth more than $20 million that’s stashed deep in a casino. Of course, if they get it out, the only thing they have to worry about is each other.
Diana Vreeland: The Eye Has to Travel: This documentary about the influential legendary fashion editor was co-directed by Vreeland’s grandson’s husband. Ends Oct. 25 at La Jolla Village Cinemas.
Flight of the Butterflies: It turns out Monarch butterflies are much like SDSU students—every year, thousands of them head to Mexico. This IMAX film captures their beautiful trip. The butterflies, that is.
Frankenweenie: Tim Burton hasn’t made a film that’s been an original idea in years, so it sort of makes sense that he’d remake one of his own movies.
Taken 2: Remember all those dudes Liam Neeson killed in the thoroughly violent Taken? At least one of them has a family member out for a little payback.
Hotel Transylvania: You won’t be surprised to hear that this new animated film involves vampires. And 3-D.
Looper: Director Rian Johnson (Brick, Brothers Bloom) teams once again with Joseph Gordon-Levitt for this time-twister; JGL is a hit man whose future self (Bruce Willis) is sent back in time to be rubbed out.
The Perks of Being a Wallflower: This adaptation of the beloved young-adult novel has made plenty of old adults feel for their youth.
Pitch Perfect: Anna Kendrick is the new girl at college who finds her place by joining a bad-ass all-girl vocal group.
End of Watch: Jake Gyllenhaal and Michael Pena are L.A. cops targeted by a Mexican cartel after a routine traffic stop.
The House at the End of the Street: Jennifer Lawrence and her mother, Elisabeth Shue, move next door to a house where there’d been a brutal murder. When Lawrence makes friends with the sole surviving family member, things get dangerous.
The Master: The new one from Paul Thomas Anderson looks at the relationship between drifter Joaquin Phoenix and emerging religious figure/cult leader Phillip Seymour Hoffman. It is intelligent, artistic, cerebral, and challenging.
Trouble with the Curve: Aging baseball scout Clint Eastwood would have much more success if he’d stop talking to chairs.
Arbitrage: Richard Gere is a hedge-fund billionaire who makes some serious mistakes while trying to stay rich.
Samsara: Shot in 70-millimeter film on several different continents over half a decade, this is the latest from the folks responsible for Koyaanisqatsi and Baraka.
Searching for Sugar Man: When two South Africans try to learn how an obscure American singer-songwriter from the ’70s died, they get more than they bargained for. Despite that sounding like a feature, it’s a pretty damn good documentary.
The Bourne Legacy: Jeremy Renner takes over the franchise, which is now directed by Tony Gilroy, the guy who wrote all of the other Bourne movies and directed Michael Clayton.
The Campaign: Will Ferrell and Zach Galifianakis spar over a North Carolina congressional seat.
Diary of a Wimpy Kid: Dog Days: If it feels like they release one of these every summer, that’s because that they release one of these every summer.
Total Recall: Less a remake of Arnie’s 1990 flick than a new adaptation of Phillip K. Dick’s short story. Colin Farrell plays Quaid, a man who starts to believe that everything he remembers might not be real. Kate Beckinsale is in the Sharon Stone role; Jessica Biel and Bryan Cranston also star.
The Dark Knight Rises: Christopher Nolan’s epic Batman trilogy concludes.
Ice Age: Continental Drift: So cold.
Deep Sea: This IMAX undersea film was made by Del Mar’s Howard and Michele Hall and is narrated by Johnny Depp and Kate Winslet. Screens at the Reuben H. Fleet Science Center in Balboa Park.
Flying Monsters 3D: No, it’s not a crappy studio blockbuster—this one is all about dinosaurs and was written and directed by Richard Attenborough, using Avatar-like technology, and plays the San Diego Natural History Museum in Balboa Park.
The Intouchables: French blockbuster sensation about an aging Caucasian paraplegic who hires a poor young black man to be his caretaker.
To the Arctic 3-D: Cute-animal-movie alert No. 2. Meryl Streep narrates this new IMAX movie about a mama polar bear and her two cubs.
Black Holes: The Other Side of Infinity: Liam Neeson narrates this IMAX film, screening at the Reuben H. Fleet Science Center in Balboa Park.
The Rocky Horror Picture Show: The camp classic continues its ongoing run, Fridays at midnight at La Paloma Theatre in Encinitas.
courtesy of: http://www.sdcitybeat.com
‘Penny for the Arts’ Plan Approved by SD City Council
The San Diego City Council voted unanimously Monday to approve a “Penny for the Arts” plan that would increase arts and culture funding from the city’s Transient Occupancy Tax.
The plan’s recommendations, which would have to be formally incorporated by the new mayor and council into the city’s annual budget, would restore the arts and culture component of the TOT to nearly 10 percent by 2017, the same percentage the arts received from the TOT in 2002 before council starting cutting the arts allotment.
“The arts and culture community has consistently proven their value to the city,” said Victoria Hamilton, executive director of the city’s Commission for Arts and Culture, which administers the city’s arts funding programs. “And we have demonstrated that Penny for the Arts will give San Diego a great return on investment.”
The Penny for the Arts plan, which could generate nearly $18 million for the arts by 2017, would affect arts funding in four significant areas:
• Restore funding to the Organizational Support Program (OSP) and Creative Communities San Diego (CCSD) allocations programs.
The OSP program is the city’s core arts support program, helping to fund more than 75 San Diego cultural organizations from the San Diego Museum of Art to the Gaslamp Quarter Historical Foundation with critical operating support.
The CCSD supports an additional 35 smaller groups and festivals, from the Italian-American Art and Culture Association of San Diego to the Linda Vista Multi-Cultural Fair.
• Re-establish the Arts and Culture Festival Revolving Fund
This would start with a bang, with the plan front loading $1 million in 2013 and $2 million in 2014 toward the 2015 Balboa Park Centennial Celebration. It would then be used to support subsequent major arts and culture festivals (including a potential annual, citywide festival, launched in 2016 or 2017, which has long been a dream of arts proponents and cultural tourism advocates).
• Contribute annual allocations to the Public Art Fund
With the budget crisis, the city’s Public Art Program had been placed on hold, but the hold expired earlier this year even though the program was unfunded. The new funds would support the community-based creation of new artworks, activities that improve public access to the city’s existing artworks, and preservation of existing artworks.
• Support special projects and initiatives
This would include funding for restoration and improvements of city-owned cultural facilities (the Civic Theatre comes to mind) and for marketing programs touting San Diego as a cultural tourism destination.
If approved by the new mayor and council as part of the 2013 budget, the plan would produce $8.87 million for the arts (including the $1 million for Balboa Park) in its first year.
The arts received $7.3 million from the TOT in 2012.
courtesy of: http://www.utsandiego.com
San Diego Real Estate Looking Less Anemic
Researchers with Zillow Home Value Forecast say home values in San Diego County gained 2.3 percent in value in the third quarter ending September 30, 2012.
DataQuick noted thjs week that foreclosure activity in California, which usually begins with notices of default, hit a five-year low in the third quarter. There were 49,000 default notices filed in the state from July through September -- a decline of 31 percent from the same period last year to reach the lowest level in California since 2007.
In addition, short sales have increased in San Diego and statewide, and have overtaken foreclosure as the favored process to deal with distressed homeowners. In a short sale, homeowners and banks agree on a sale price that falls short of the amount owned on the mortgage.
Another good sign that real estate may be reviving nationwide is that housing construction has risen, but not in all areas of the country.
courtesy of: http://www.kpbs.org
San Diego Bay Wine & Food Festival
Celebrated local chefs and their fine fare will be served up at the 9th annual San Diego Bay Wine & Food Festival. Look for: Bernard Guillas, Brian Malarkey, Rich Sweeney, Gavin Kaysen, Matt Gordon, Martin Gonzalez…
…and the local cheferatti will be complemented by national names like Roy Yamaguchi, Gale Gand, Lindsay Autry, Suzette Gresham and The Hearty Boys.
There’s something for every foodie at this 170-booth, sell-out event.
The downtown-based festival is spread out over five days (November 14-18), with more than 30 dinners and events leading up to the Grand Tasting on November 18 at Embarcadero Marina Park North.
Attendance at last year’s Grand Tasting was roughly 5,000; the whole slew of events is expected to attract about 10,000.
Here’s how things will uncork:
Wednesday (Nov. 14)
Festivities kick off at Fifty Seven Degrees, with a party aimed at a younger demo, with wine and beer tastings, and food trucks. (Tickets: $45)
Thursday (Nov. 15)
From 11 a.m. to 5:30 p.m there are a variety of cooking classes (tickets: $45-$65). There’s a Tastemaker’s Dinner featuring Yamaguchi at his Roy’s Restaurant at 7:30. And the party continues at 10 p.m., with an “Industry Insiders After Dark” fete at Searsucker (limited tickets available for $65).
Friday (Nov. 16)
Ten more classes and tastings (11 a.m.-5 p.m.), and then a 5:30 party at Marriott Marquis & Marina, called “The Vault: A High End Wine Experience” ($125).
Saturday (Nov. 17)
The Grand Tasting – a jam-packed serving of booths dishing out wine, beer, food and all kinds of surprises – goes from noon-3 p.m. General admission tickets are $125, but check out ways to get in earlier and/or cheaper:
For $200, a VIP Pass Presented By Harrah’s gets you in at 11 a.m. (the extra hour without all the elbows is definitely a bonus, and the VIP tent has high-end spirits, entertainment and other extras). The basic Early Entry Pass is $165…If you’re a designated driver, you get into the party at noon for $75; at 11 a.m. for $100.
If you’re still standing, the after party is from 6-9 p.m. at the U.S. Grant Hotel ($50).
Sunday (Nov. 18)
If you have any energy left, get up for the “Wine Spectator’s Celebrity Chef Luncheon & Big Bottle Live Auction” (10:30 a.m.-2:30 p.m.; $200).
For a complete listing of events, go to SD Bay Wine & Food Festival.
courtesy of: http://www.sandiegobugle.com
FREDDIE MAC: Mortgage Rates Near Record Lows As Home Construction Builds
"Mortgage rates remained more or less unchanged this week as home construction builds up steam," said Frank Nothaft, vice president and chief economist at Freddie Mac. "Construction on single-family homes jumped to an annualized rate of 11 percent in August, the strongest pace since August 2008. Over the first nine months of the year, single-family starts were 23 percent higher than the same period last year. Moreover, homebuilder confidence rose for the sixth consecutive month in October to the highest level since June 2006, according to the NAHB/Wells Fargo Housing Market Index." Important facts from the report:> 30-year fixed-rate mortgage (FRM) averaged 3.37 percent with an average 0.7 point for the week ending October 18, 2012, down from last week when it averaged 3.39 percent. Last year at this time, the 30-year FRM averaged 4.11 percent.
> 15-year FRM this week averaged 2.66 percent with an average 0.6 point, down from last week when it averaged 2.70 percent. A year ago at this time, the 15-year FRM averaged 3.38 percent. > 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.75 percent this week with an average 0.6 point, up from last week when it averaged 2.73 percent. A year ago, the 5-year ARM averaged 3.01 percent.
> 1-year Treasury-indexed ARM averaged 2.60 percent this week with an average 0.4 point, up from last week when it averaged 2.59 percent. last week. At this time last year, the 1-year ARM averaged 2.94 percent.
courtesy of: http://www.huntingtonnews.net
Tuesday, October 23, 2012
Top 10 Things to Know About 3.8% Tax In 2013
Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
890 W Washington St.
San Diego, CA 92103
Cell: (619) 301-8589
Email: realtorpeg@yahoo.com
Website: http://www.realtorpeg.com/
Facebook: http://www.facebook.com/realtorpegsd
Twitter: http://twitter.com/realtorpegsd
Monday, October 8, 2012
San Diego Leading Economic Indicators Unchanged in Aug 2012 - USD, Alan Gin
Leading Economic Indicators Unchanged in August
Note: The tentative date for the release of next month’s report is October 30.
October 1, 2012 -- The USD Burnham-Moores Center for Real Estate’s Index of Leading Economic Indicators for San Diego County was unchanged in August. A strong increase in building permits and a more moderate gain in help wanted advertising offset small declines in initial claims for unemployment insurance, local stock prices, consumer confidence, and the outlook for the national economy to produce the unchanged result. Due to revisions in previously reported data, the USD Index has now been unchanged in two of the last three months.
Those two flat months, plus the fact that more components were down than up, raises some potential issues about the local economy. Right now, those issues are minor, and it would take more negative data in the months ahead before a red flag is raised. For now, the outlook remains positive. More than 30,000 wage and salary jobs were added to the local economy in August compared to August 2011, the third consecutive month with strong year-over-year gains. Despite problems with its economy and the business environment, California is leading the nation in terms of the total number of jobs created in the last few months. San Diego is both contributing to and benefiting from that result, as an expanding state economy means more orders for San Diego companies and more visitors to the region.
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| Index of Leading Economic Indicators The index for San Diego County that includes the components listed below (August) Source: USD Burnham-Moores Center for Real Estate | +0.0% |
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| Building Permits Residential units authorized by building permits in San Diego County (August) Source: U.S. Census Bureau | +1.21% |
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| Unemployment Insurance Initial claims for unemployment insurance in San Diego County, inverted (August) Source: Employment Development Department | -0.62% |
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| Stock Prices San Diego Stock Exchange Index (August) Source: San Diego Daily Transcript | -0.43% |
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Consumer Confidence An index of consumer confidence in San Diego County , estimated (August) Source: The Conference Board | -0.23% |
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| Help Wanted Advertising An index of online help wanted advertising in San Diego (August) Source: Monster Worldwide | +0.48% |
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| National Economy Index of Leading Economic Indicators (August) Source: The Conference Board | -0.20% |
Highlights: Strength in both single-family and multi-family units authorized help push residential units authorized by building permits to a sixth consecutive gain. The 223 single-family units authorized in August was second this year only to July’s results, which in turn was the highest level since December 2010. Combined with solid numbers on the multi-family side, total residential units authorized were at the third highest level for the year. . . For the third month in a row, the labor market variables moved in opposite directions. Job losses continue to edge up, resulting in more initial claims for unemployment insurance, which is a negative for the Index. Hiring continues to pick up, with help wanted advertising advancing for the 20th month in a row. The net result was that the local unemployment rate fell to 9.0 percent in August, down from a revised 9.3 percent in July. After adjusting for seasonality, the local unemployment rate is at its lowest level since January 2009. . . Consumer confidence was negative in August, the first time in nine months that that component declined. This is a potential area of concern, as consumer activity is typically more than 70 percent of economic activity. . .Sentiment in the financial markets was also negative, as local stock prices dropped for the third time in four months. . . The trend of the national Index of Leading Economic Indicators alternating between positive and negative continued for a sixth straight month. The latest national economic data reflect these mixed results. The third estimate for Gross Domestic Product for the second quarter showed an annualized growth rate of 1.5 percent, which was down from the second estimate of 1.5 percent. At the same time, the new benchmark for payroll employment showed an extra 386,000 jobs created in recent years compared to what was initially reported.
August’s increase puts the USD Index of Leading Economic Indicators for San Diego County at 121.7, unchanged from a value of 121.7 in July. Revisions in the national Index of Leading Economic Indicators led to a change in the previously reported value for June and in the percentage changes for June and July. Please visit the Website address given below to see the revised changes for the individual components. The values for the USD Index for the last year are given below:
Index % Change
2011 AUG 116.0 - 1.0
SEP 116.1 +0.1
OCT 115.9 - 0.2
NOV 116.2 +0.2
DEC 116.9 +0.6
2012 JAN 117.7 +0.7
FEB 118.7 +0.9
MAR 119.8 +0.9
APR 120.5 +0.6
MAY 121.2 +0.6
JUN 121.2 +0.0
JUL 121.7 +0.3
AUG 121.7 +0.0
For more information on the University of San Diego's Index of Leading Economic Indicators, please contact:
Professor Alan Gin TEL: (858) 603-3873
School of Business Administration FAX: (858) 484-5304
University of San Diego E-mail: agin@san.rr.com
5998 Alcalá Park Website: http://www.sandiego.edu/~agin/usdlei
San Diego, CA 92110 Twitter: @alanginusdsba
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