• Address: 2120 Colorado Blvd., Suite #1, Eagle Rock, CA 90041
  • Office Phone: 323-274-2148

Tracy King Blog - Eagle Rock Real Estate - Northeast Los Angeles Realtor

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LA Digs - Northeast LA Real Estate Blog

Welcome to LA Digs, the real estate and Northeast Los Angeles community blog written by Realtors Tracy King and Keely Myres.

Here, we share tips, market updates, and local news bits to keep you informed on what's happening in Northeast Los Angeles and the surrounding neighborhoods. Read on to learn about the latest in your neighborhood!

Finance 101 thanks to Money Magazine

An interesting calculation in the June 2008 Money magazine is the TED spread, an indication of easy it will be to borrow money. It's the difference between the 3 month LIBOR rate and the 3 month T-bill rate.  The T-bill is essentially risk free and the LIBOR is the rate the banks charge to borrow from one another. If they are nervous about lending to each other, they certainly are more fearful about lending to you and me. They say a difference of .4 % is what we need to see. The latest figures show a spread of .97%, which is a bit more than last month, and a lot more than 1 year ago when it was .41%.

My conclusion: this formula confirms that it is difficult to get loans right now. I already knew that anything but the most pristine of credit, 20% down, conforming loan type buyer was having trouble getting a loan, but this formula shows me why and also how I can know when it is changing.

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Eagle Rock as Wine Country

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Summer Solstice in Eagle Rock

It was the hottest day so far this year, 108 degrees by several accounts. TERA, The Eagle Rock Association, had its second annual Summer Solstice Volunteer Recognition Party at the Eagle Rockdale Community Garden and Art Park last night and it was a delightful event.

Lots of food, wine, and water were on hand scattered under the trees in this tucked away corner of Eagle Rock just east of Figueroa off La Loma and Lanark at the end of Shelby-Lanark Park. Several misters scattered under the trees cooled off the partygoers enough to make it bearable.

It seemed like dozens of adorable little girls got themselves drenched in the spray and then listened with rapt attention to the folk/environmental rock of the Glen Iris band. As dusk descended, Queenie and the Saints entertained with torch songs reminiscent of Peggy Lee.

 Does life get any better? A hot night, good music, reconnecting with friends and family, and celebrating the continued renaissance of Eagle Rock; that is a pretty great way to welcome summer, in my book

An adorable audience of little girls listen to the Glen Iris Band.


The Glen Iris Band performs.



The gardens themselves are grown and maintained by local individuals and are producing organic food for their families. The Community Garden is a project sponsored by TERA headed by Mary Tokita, who has lovingly and wholeheartedly worked for several years to make an abandoned right of way into this garden in the city.

How did you celebrate the first day of summer?
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Buyers In Today's Market

Buyers in today's market are seeing some of the most confusing contradictions we've had in the market in my 18 years selling real estate. On the one hand, there is more inventory including more foreclosures and short sales than we've had in over 12 years, and we often see price reductions of over $100,000 on some even modestly priced homes. On the other hand, we see multiple offers with prices going over asking. It doesn't seem to make any sense.

Especially in these confusing times, pricing it right is the key to success. The hard part for a buyer to figure out is whether the price is right or can they offer less? Sellers are wondering whether the right price is too low and can they try just a bit higher? If the price is good enough to draw multiple offers, is it crazy to be in a bidding war when all the news says we're in a down market?

Here's the really hard part: you need to rely on the advice that moves you toward what you really want. This is true of any subject, from housing to your career. That means that your mother or nephew or friend at the office is not who you should rely on because they are rarely the ones who tell you to do something adventurous. They usually see their role in your life as the cautionary voice of what can go bad. This way, they are never wrong. If you ignore their advice and do something and it doesn't turn out, they told you so. If you don't do it, they were right and can never be proven wrong. And if you do it anyway and it turns out great, well, maybe you forget that they told you not to do it. The only advice that people seem to take from friends all the time which is risky is buying stocks. And that turns out badly so often, it's amazing.

What to do? Buy because you need a place to live. Buy because you want your own home in a neighborhood so you can be a grownup and a citizen and participate in the American Dream. Buy because you're tired of your landlord raising your rent and telling you you can't smoke in your own home, or own a dog, or paint your bedroom purple. Buy because you are tired of seeing all that rent money go to helping your landlord buy your house with you not getting any ownership of it.

Buying a house as purely an investment strategy is not a bad thing, but you cannot expect to see your stock share go predictably up like the accumulated interest on a CD. Over time, say 5 to 10 years, you are pretty sure to see your initial investment increase significantly. But don't make that the only reason to own a home.
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I’m Walking and Fundraising to Fight Breast Cancer

Did you know that every three minutes, another woman in the United States is diagnosed with breast cancer? I didn’t, and I was shocked to learn how prevalent this horrible disease has become in this country.

Ten years ago, I joined thousands of other women and walked the first Avon Walk Against Breast Cancer. This time, my daughter Keely asked me to join her on her first Avon Walk, and I’ve committed to doing that.

I’m asking for your help. On September 13-14, we’ll spend the weekend walking, along with thousands of other people, in the Avon Walk for Breast Cancer. We will walk at least the distance of a marathon (26.2 miles), and I may walk as far as a marathon and a half. Either way, it’s a very long walk. I’ll have to spend the next few months training, fundraising, and preparing for the event. It’s a big challenge, but I’m very excited about doing it because I know it will make a real difference to the millions of people affected by breast cancer.

The money raised goes to the Avon Foundation Breast Cancer Crusade, a 501(c)(3) public charity whose mission is to provide access to care and to work toward finding a cure. They provide funding to organizations all over the country in five areas: medical research, clinical care, support services, educational and advocacy seminars, and community-based, non-profit early detection breast health programs. Much of the money raised will stay right here to help people in our city.

I’m required to raise at least $1,800 to participate. Please help to support me and the breast cancer cause by making a generous contribution to my efforts. You can make your donation online by simply clicking on the link at the bottom of this message, which will bring you right to my personal page. Please remember as you’re making your donation that in less than the time it took to read this e-mail, another woman in the U.S. was diagnosed with breast cancer.

Thank you for your support. If you receive duplicate emails from me, please understand that I wanted to make sure at least one message went to your current email address.

P.S. You can find out more about the Avon Walk for Breast Cancer by visiting www.avonwalk.org

Click here to visit my personal page.

If the text above does not appear as a clickable link, you can visit the web address: http://info.avonfoundation.org/site/TR/Walk2008/LosAngeles?px=4084328&pg=personal&fr_id=1650&et=CZmNxGARnff5BPL1fg3DCA..&s_tafId=314152

Some email systems may send your response to the Avon Foundation, not to your walker/donor when you push “reply”. Before “sending”, please confirm that your message is addressed to your intended recipient (above). If This email address is being protected from spambots. You need JavaScript enabled to view it. appears as a recipient, please delete and add the correct recipient email.

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Tracy King, Realtor
DRE# 01048877
Phone: 323-274-2148 | This email address is being protected from spambots. You need JavaScript enabled to view it.

Keely Myres, Realtor
DRE# 01834633
Phone: 323-274-2148 | This email address is being protected from spambots. You need JavaScript enabled to view it.

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