32 minute read
ARTS & EVENTS
Living Through History
The Braid actors share true stories, from kissing Meghan Markle to 9-11 heartache
By Bridgette M. Redman From Meghan Markle’s first kiss to a mother’s fears that COVIDrelated hearing loss will mean she can no longer sing lullabies to her daughter, The Braid’s next salon tells the everyday stories of people living through historic times. “The Rest Is History” will be performed on May 15, 16, 20 and 24. Curated, written and directed by members of The Braid’s Emerging Artists Program master class, it is billed as “powerful and thought-provoking stories about living through a historical time or a personal moment that changed someone’s life or changed the world.” “You’ll laugh, you’ll cry, you’ll be moved to think about history in a new way and you’ll also remember your own personal moments,” said The Braid artistic director Ronda Spinak. “Where you were at 9-11, what it was like for you during the women’s movement — those stand-out moments in your life.” The Braid has been presenting its salon series using live actors on Zoom, which is how this piece will be delivered.
A kiss revealed
“Are you the Joshua Silverstein?” was a question that first alerted the actor-comedian and beatbox artist that Meghan Markle had kissed and told. In 2013, Markle was on Larry King and at the end of the interview was asked who her first kiss was. Her answer was Joshua Silverstein. This was long before Markle was engaged to Prince Harry and became a controversial member of the royal family. “Meghan is the first woman of color to be a member of the royal family,” Silverstein said. “Any time a woman or a woman of color speaks up against something, they’re painted very negatively in the media.” After she became engaged to Prince Harry, people were suddenly interested in the story of Markle’s first kiss and started to chase Silverstein down for details. His wife had to tell him who Prince Harry was as the British royals had never been on Silverstein’s radar. “I never sought out interviews, never chased the buzz,” Silverstein said. “I thought every time it was dying out, that would be the end of it.” He said he started to poke fun at himself in his stand-up show, that this was the only thing he’d be remembered for. Whenever Markle makes a splash in the news, the media is back beating on Silverstein’s door. “I’m getting the sense that as long as she stays relevant, people will wonder about her past,” Silverstein said. Their parents both went to the same spiritual center and Markle’s mother often kept Silverstein up-to-date on what she was doing until he stopped going there. He said he last saw Markle when they were in college. The two of them started dating at a summer theater camp when they were 14 in the early ‘90s. They spent all day together learning about improv, theater, acting and storytelling. Silverstein said that it was one of those very middle school-type moments where his friends told Markle that he had a crush on her and her friends told Silverstein that she had a crush on him. While the camp wasn’t very large, they escaped to get some alone time and talk about what the relationship would look like.
PHOTO CREDIT: JOANNA DEGENERES
Actress Lisa Kaminir and other cast members share stories and true personal histories in the premiere of “The Rest Is History”, a brand-new salon show from The Braid. Actor and author Joshua Silverstein shares his story about what happened when Meghan Markle revealed on “Larry King Live” that he was her first kiss.
“At that age, you skip the dating and go right to commitment, to boyfriend and girlfriend,” Silverstein said. “We knew very little about each other before we became a couple and then there were months of talking on the phone in our parents’ bedroom — talking until our parents would go to bed.” He admitted that a lot of those times have escaped his memories and he’s had to sort out what actually happened. “The more you talk about something, the more your brain creates memories or you remember things,” Silverstein said. “I wish I could tell you I’m 100% certain that we discussed it on the phone before it happened. It seems like that was what it was, but I’m not sure.” What he does remember for sure? That is what he will share when he performs the monologue that The Braid commissioned him to write for “The Rest Is History.”
Tugging at the heartstrings
While several of 10 stories like Silverstein’s are amusing and will make the audience laugh, others are more serious or reflective. “Interrupted” by Paul Itkin tells the story of an Army lieutenant during the Vietnam War whose job was to visit parents to tell them their sons had been killed. “Who am I to interrupt this day, to change lives forever?” he asks at the start of the story. Another piece, “Hawaiian Songbird” by Sharon Bonin Pratt, is about an 11-year-old Jewish boy whose school choir master asks him to sing a solo before 600 people, “What a Friend We Have in Jesus.” The director sends him home to practice, which he does. “But I practice, silently, lest my Jewish mother hear me singing about Jesus, and send me straight to hell with a few of her still punches and enough Yiddish curses to make the choir teacher blush deeper than a red hibiscus,” the boy says in the story. In “Friend or Foe” by Jodi Marcus, a Jewish woman reflects on her elementary school relationship with a Palestinian boy, a relationship made rocky by the history taking place half a world away. the stories from the hundreds that were submitted, they edited and directed them. The Emerging Artists Fellows are David Chiu, Amanda Horowitz, Zak Lempert, Julie Lanctot, Isaac “Izzy” Salant, Vicki Schairer and Aysha Wax. The cast includes Miata Edoga, Bonnie He, Lisa Kaminir, Silverstein and Cliff Weissman. Silverstein, who is part of the cast and will appear in three of the shows, describes the pieces as amazing and wonderfully written. “There is a lot of heart, a lot of depth, a lot of humor and joy,” Silverstein said. “People need to come see this show. It is a very multi-ethnic cast and these are great stories that are from people who happen to be Jewish.”
What: “The Rest is History” Who: The Braid (formerly Jewish Women’s Theatre) When: May 15 - 24 Tickets: $20 general, $10 students, $36 for VIP experiences the-braid.org
Pulling Back the Curtain
‘Reveal’ series takes audiences behind the scenes at The Broad Stage
By Bridgette M. Redman Getting to peek behind the scenes is often a privilege reserved for a theater company’s biggest donors. The Broad Stage in Santa Monica is not only opening up the opportunity in a virtual way, but it is going into greater depth than just a talkback with the actors or an invitation to a rehearsal. Their new “Reveal” series started on May 6 and will continue throughout the next season. They are free for anyone to watch. After the live premiere broadcast of each episode, the programs are available on demand. There are plans to offer three episodes for each of the next five original productions that The Broad Stage has commissioned for the next two seasons. This month, the series begins with “Reveal: The TEAM’s Reconstruction (Still Working but the Devil Might Be Inside).” The episodes premiered on May 6, 8 and 15, each its own look into how this new work is being created. The TEAM is a Brooklyn-based artistic group who are the collaborative writers of this project, co-directed by Tony winner Rachel Chavkin (“Hadestown”) and Zhailon Levingston (“Tina: The Tina Turner Musical.”) “We really want everyone to get to know these artists,” said Ilaan Mazzini, The Broad Stage’s director of programs and activations. “They all have important reflections and narratives to share that I think are worth paying attention to. I hope that by watching ‘Reveal’, our audiences will connect the subject matter and the artistic voices of the commissioned work and find relevance in their own lives.”
Exploring building blocks of “Reconstruction”
The first episode centers on the new work, “Reconstruction”, and examines the TEAM’s unique athletic and emotional performance style as a collaboration between 23 artists. They explore whether intimacy can or should exist between “whiteidentifying and Black-identifying individuals in an anti-Black United States.” It shifts back and forth through time from the Reconstruction era to the present day and they use a language informed by music, silence, poetry, fraternities and sororities, water and ratchet fashion. To explore how this works and what they do, The Broad Stage released three “Reveal” episodes: • Episode 1: How “Primer for a Failed Superpower” primed the TEAM for Reconstruction.This provided a look at the history of the company and their previous work. “Primer for a Failed Superpower” was a concert of iconic protest songs that featured a 32-person multi-generational ensemble. The “Reveal” episode featured Stephanie Ybarra, Chavkin, Levingston, Orion S. Johnstone and Nehemiah Luckett. • Episode 2: Finding Intimacy in the “Reconstruction” Room: The Role of our Process Chaplain. One of the roles the TEAM has is that of “process chaplain.” This person, Milta Vega-Cardona, coaches the show’s intimacy and during the episode explains how it is created, deepened, questioned and supported by her work. During the live conversation, Vega-Cardona is joined by other artists of the piece to talk about how her work affects their creative process. It was followed by a Q&A. In addition to Vega-Cardona, it featured Chavkin, Levingston, JJJJJerome Ellis and James Harrison-Monaco. “This gets to the nitty gritty of the process,” Mazzini said. “They try to create the safety and intimacy within the rehearsal room so that they can dive into subject matter that may be difficult or uncomfortable.” • Episode 3: Creating Reconstruction: “How We Make Is as Important as What We Make.” May 15 at 2 p.m. In this episode, The Broad Stage’s artistic director Rob Bailis interviews Chavkin, Levingston and members of the “Reconstruction” writing team. They discuss how the TEAM focused on decolonizing themselves and their practices. Their rehearsal room became rooted in anticapitalist and anti-colonial practices. The panel in this episode discusses this process and interviews with the artist.
The Broad Stage in Santa Monica launches “Reveal”, a series of digital artist residencies that bring the audience into the creative process of new works.
Building arts education into new works
Situated on a college campus, Mazzini explained that arts education and learning is central to their mission and they saw “Reveal” as an opportunity to include everyone in the learning process about the artists and the work that they’re presenting. The episodes, they hope, will prepare their community for the work that they’ll be presenting. “Sometimes the artists are grappling with subject matter that takes a little bit of unpacking,” Mazzini said. “We really wanted to open up so that people were meeting the artists much earlier than just the few months that we’re doing a production. We wanted to bring people into the creative process and give them the opportunity to get to know the artists we think are so interesting and extraordinary.” Other shows that will be part of the “Reveal” process include: • “Iphigenia,” Greek myth and opera reimagined to raise social justice up for a modern time • “Universal Child Care,” part concert, part play with a multinational cast exploring family and cultural norms of childcare • “Being Future Being,” First Nation creation myths inspire a new path toward community stewardship of our lands • “Yemandja,” the African goddess of the sea inspires this theatricalization about love, injustice and free will The works are in the early stages of creation. Some have done readthroughs of early drafts, others are just starting the creative residencies that develop the pieces. Still others are already working with designers and are rehearsing. There is no set format for what the “Reveal” episodes will look like as all of them will be programmed in partnership with the artists and responding to what they feel is important to tell about their story. “Each ‘Reveal’ is very different,” Mazzini said. “There are typically three episodes and our goal is to share the who and the what, which can be programmed in different ways.” While there will be some traditional conversations in the forms of panel discussions or interviews, there will also be documentaries or videos of their past work. A musical podcast and footage of a live concert will make up other episodes. Each episode will be chosen to help reveal the company’s genre, vibe and what they are interested in creating. “That to me is what’s exciting,” Mazzini said. “It isn’t a cookie cutter kind of format, but it really is an opportunity to get to know the artists in the way that they’re helping to construct.” thebroadstage.org/reveal
Jack Is Back
Danny Elfman reprises role in ‘Tim Burton’s The Nightmare Before Christmas’ live concert
By Kamala Kirk After three long years, one of Los Angeles’ pre-eminent and classic live Halloween experiences for all ages, “Tim Burton’s The Nightmare Before Christmas”, returns to the stage on October 29. Award-winning composer Danny Elfman, who composed the original film’s music, lyrics and score, will reprise his singing voice role of Jack Skellington. Acclaimed conductor John Mauceri will conduct a full orchestra and choir performing the film’s classic score and songs live, accompanying Elfman singing live in sync with the film. Additional original voices and special guest stars will be revealed at a later date. “Jack is back!” Elfman said. “I was so sorry to have missed last Halloween (we all know why), but I’m not skipping this year. Jack wants to get back on stage. I can’t wait to see you all.” The event will include a variety of pre-show activities such as a costume contest and trick-or-treating, bringing the spirit of Halloween Town to the Banc of California Stadium. As the first-ever film music concert event at the stadium, the show will be uniquely tailored to the venue to provide a new experience even for those that have previously seen the show. The concert event will be transformed into a spectacular and unique visual experience by exhibiting jaw-dropping living scenery and animation cast across giant LED screens to fully immerse the audience in Halloween Town. “We’re thrilled to celebrate this iconic film with an extraordinary concert experience mixing film, live music, singers and immersive digital animation that can only be experienced live,” said concert co-producers Richard Kraft and Laura Engel. Concert co-producers from AMP, Alison Ahart Williams, Tim Fox and Georgina Ryder added, “As the world is able to once again celebrate live music and art together as a community, we are proud to be able to bring Jack back to the LA community and look forward to celebrating right alongside the fans.” Tickets for the event go on sale May 14 at 10 a.m. PT on ticketmaster.com. Ticket prices range from $39.50 to $179.50. On May 14 at 10 a.m., tickets go on sale for a live-to-film concert experience of “Tim Burton’s The Nightmare Before Christmas” from award-winning composer Danny Elfman.
An Hour of Rock for Earth Day
Peter DiStefano plays through a flurry of earth-friendly tunes
COURTESY OF ALL EDGE ENTERTAINMENT By Anthony Torrise Peter DiStefano always seems to be playing guitar either for himself or an audience. The founding guitarist of ‘90s alternative rock outfit Porno for Pyros never seems to slow down. Since his residency at Harvelle’s Santa Monica ended due to COVID last year, DiStefano has been putting out monthly livestreams on social media with continued tenacity. This year’s Earth Day called for a special livestream where DiStefano played along to 30 songs in the span of an hour with music videos playing behind him. The list of songs curated by his friend, manager, producer and partner, Douglas Kaplan, all promoted a similar message of caring for our shared planet, the beauty it contains, and each other. “We missed Earth Day last year when our Wednesday night residency with Harvelle’s was shut down due to the pandemic,” Kaplan said. “We didn’t want to miss it this year so Oro Playa Lounge created an opportunity for us in support for Earth Day.” DiStefano went through each song playing everything off the top of his head, at one point switching from the more relaxed sound of John Denver to the frantically fast speed of Metallica. “It was pure improvisation with notes from Doug about how to bow on these songs, etc.,” DiStefano explained. “Doug directed the vision but the guitar performance was improvised.” The songs sometimes switched at unexpected times, but those moments gave him opportunities to thoughtfully adapt to the rapid changes of the playlist, something that appeared natural to DiStefano through his facial expressions. “Every single song had a moment,” DiStefano said. “I looked at it as one big song. There were moments of love, pain and war.” The blend of country, pop, rock, soul, folk, rap, electronic, metal and more was described by DiStefano as “sonic art.” At various points throughout the hour, DiStefano used a violin bow on his guitar like Led Zeppelin’s Jimmy Page to create a dreamy soundscape in an unusual way. There was an instant where DiStefano strummed behind the saddle of his guitar to produce an interesting muted strum. The cherry on top was his custom ‘pyro pedal’, which combined the effects of three separate pedals into one. This pedal took the previously mentioned playing methods and added even more twists to them – a testament to DiStefano’s ability to get crafty with what he is given. With so much going on in the video, DiStefano’s passionate performance boiled down to his hope to inspire us towards eco-friendly actions that benefit the world as they would ourselves. He played through the stream “with a humble heart and healing intention” as he put it. “[I enjoyed] everything about it,” DiStefano said. “It was amazing to play guitar and work with the production team as Doug VJ’d the set.” DiStefano is also optimistic about the future of his live performances. As things continue to reopen, he is setting his sights not only on performing at local clubs, but potentially out-of-state venues in 2022. The Earth Day performance is currently available for viewing at oroplaya.com
Movies Under the Stars
Rooftop Cinema Club returns to Santa Monica, debuts new venue in El Segundo
By Kamala Kirk After a wildly successful run last winter, Rooftop Cinema Club (RCC) has returned to the Santa Monica Airport, announcing a new line-up of socially distanced movie screenings that will play every night of the week throughout May. “We’re excited to reopen our premier drive-in experience in the heart of the Westside,” said RCC founder Gerry Cottle. “Guests can enjoy movies under the stars in the age of social distancing while having a safe ‘away from home’ experience from the security of their own vehicles. Movies will be projected onto a 52-foot screen and audio will be broadcast through the FM transmitter radio on their car. Guests are welcome to bring their own food, but we are also offering concessions through a completely contactless system.” In addition to award-winning films, attendees can look forward to a “We Love LA” lineup, a “90s Weekend”, family-friendly flicks and cult classics. The Drive-In at Santa Monica Airport will offer two screenings on most days: a prime screening starting between 8 and 8:30 p.m. followed by a late screening starting between 10:30 and 11:30 p.m. “We’ve missed our fellow Angelenos and being able to explore LA over the past year, so we’re kicking off our return to LA with some of our favorite quintessential LA movies,” Cottle said. “Both at The Drive-In at Santa Monica Airport and at our newest Rooftop venue, Rooftop Cinema Club El Segundo, we’re showing favorites like ‘Clueless’, ‘La La Land’ and ‘The Big Lebowski.’ We couldn’t think of a better way to return to the City of Angels than with a weekend dedicated to the movies that showcase everything we love about the city.” The El Segundo venue sits atop a four-floor parking structure with mountain views, ocean breezes and open skies. Guests will enjoy watching movies through state-of-the-art personal headphones and a crystal-clear picture on the big screen. They can choose two different types of seating arrangements: single lounge seats for one or double-width loveseats for two. Standard tickets range from $18.50 to $26, depending on the type of ticket and day of the week. Also available on the rooftop are lawn games; popcorn, candy and movie snacks with contactless order and pickup at the box office; a full bar complete with craft cocktails, beer and wine; and The Urban Oven will be parked onsite, serving up artisanal wood-fired pizzas from their truck. “We’re bringing back the same highly-rated experience that our guests loved earlier this year with safety at the forefront,” Cottle shared. “That being said, we’re always trying to uplevel our experience for guests. With the reopening, we’ve refreshed our décor and added a new photo moment onsite for guests to enjoy. We also will be introducing roller skating servers to deliver concessions directly to vehicles once LA moves into the yellow tier. We’ll be announcing more exciting things coming soon this summer.” RCC is also bringing back bi-monthly community screenings on select Wednesdays at $10 per vehicle, regardless of occupancy, with $5 from each ticket sale going directly to the Los Angeles Regional Food Bank. “During the winter season, our guests helped us raise more than $15,000 for the food bank through these screenings, and we’re happy to continue the tradition of giving back through the magic of movies,” Cottle said. For more information, visit rooftopcinemaclub.com.
Rooftop Cinema Club has returned to the Santa Monica Airport and will debut a new line-up of screenings with fun new additions including roller skating servers.
On May 6, RCC opened Rooftop Cinema Club El Segundo, where guests can watch movies through state-of-the-art personal headphones, relax on comfortable lounge seats or loveseats, and enjoy craft cocktails and gourmet snacks.
WOODSON AT PLAYA VISTA
“Overlooking a quiet courtyard, this Woodson home boasts a quiet walk street location offering privacy and space in one of Playa Vistas most sought after neighborhoods,” says agent Kris Zacuto. “With tree top views and an ideal orientation overlooking a rare landscaped open lot, this single family detached luxury home is a short walk to The Resort and Runway representing one of the most popular locations in Playa Vista. With three bedrooms and an additional office space, a two-car private garage along with a private guest space, this tech forward and turn key detached single family home has it all in the heart of Silicon Beach.”
Offered at $1,975,000
INFORMATION:
KRIS ZACUTO
COMPASS
310.702.6299
SILICON BEACH EXPERTISE | DISTINCTIVE LUXURY SERVICE
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Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity.
1630 ELECTRIC AVE, VENICE 90291 | This 1955 Venice beach duplex offers both the potential for development or continued rental income. The building currently has two month-to-month tenants in two-bedroom / one-bath units. The property is in good condition, updated roughly 8 years ago. Just a short 1/2 block off Abbot Kinney on a quiet one-way street. Detached two-car garage could potentially be converted into an ADU. But the other option would be to scrape the lot and build back two, 2,500 sq ft two-story condos making this deal very attractive to developers and investors. Offered at $1,799,000
Marcus Miceli • 310-741-8342
Call Today for a Showing • www.initiaterealty.com
CalDRE#: 01439068
Luxury Marina del Rey Penthouse
13320 BEACH AVENUE PH #404, MARINA DEL REY | $1,700,O00
LOFT | 3 BATHS | 2,040 SQ FT (btv)
This exquisite penthouse loft is a single story with over 2,000 square feet of usable living space, making it the largest penthouse in the coveted Steel Lofts boutique building. Come home to a bright and spacious penthouse with a large and functional floor plan including white wood floors, a sleek designer kitchen with custom cabinetry, a center island, breakfast bar, a large dining area and soaring 12-foot ceilings that give this loft an open and airy feeling throughout. The custom bookshelves in the front sitting area and the oversized walls are perfect for displaying art. There is an entry hallway with a separate powder room for guests, laundry area, and storage closet. The master features a pedestal platform for the bed with hidden storage drawers, custom built-ins, a roomy walk-in closet, and two designer master bathrooms. This one-of-a-kind, trophy penthouse has floor to ceiling windows that let in lots of light and ocean breezes. Step outside to the magnificent 600 square foot private deck with southern exposure that is perfect for indoor/outdoor living and entertaining at the beach. This modern, stylish building is a few miles from the beach and LA’s most popular shops, and top restaurants! 626.862.5971 tara@tarakleinrealestate.com tarakleinrealestate.com
DRE# 01936331
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8429 Wiley Post Ave, Westchester
2 Units | 1 bed | 1 bath | $999,000 Coming Soon
12975 Agustin Pl #103, Playa Vista
2 bed | 2.5 bath | $920,000 Quintessential SoCal Living
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4707 La Villa Marina #F, Marina del Rey
3 bed | 2 bath | $1,200,000 Coming Soon
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2 bed | 1 bath | $959,000 Updated Ranch in Silicon Beach
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1 bed | 1 bath | $640,000 Pristine Remodeled Unit
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4 bed | 5 bath | $2,439,000 Stunning Costal Farmhouse
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2 bed | 1 bath | $1,099,000 Remodeled Ranch House
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4 bed | 2.5 bath | $1,995,000 Remodeled Contemporary Home
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3 bed | 2 bath | $1,599,000 Mid-Century Modern In Escrow
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5 bed | 4 bath | $2,250,000 Rare Mid-Century Modern In Escrow
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3 bed | 2 bath | $1,399,000 Mountain Views In Escrow
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3 bed | 2 bath | $1,299,000 Updated Ranch Home
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4 bed | 2 bath | $1,799,000 1930s Spanish Eclectic Home In Escrow
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4 bed | 3 bath | $1,299,000 Traditional Ranch w/ Guest House In Escrow
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3 bed | 2 bath | $1,269,000 SoCal Bungalow In Escrow
6479 Nancy St, Westchester
4 bed | 4 bath | $1,995,000 Resort-Style Home
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The Stephanie Younger Group 310.499.2020 | DRE 01365696 stephanieyounger.com | @stephanieyoungergroup
Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation.
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THE ARGONAUT PRESS RELEASES
STUNNING COASTAL FARMHOUSE
“Welcome home to a 4BD/5BA farmhouse in the heart of Silicon Beach,” says agent Stephanie Younger. “The heart of the residence revolves around the family room and well-appointed chef’s kitchen. Entertain or dine under the stars in the backyard with a pool, dining area, and firepit. The main suite is an airy sanctuary with a walk-in closet and spa-like bath and balcony. An additional en-suite bedroom, bath, and adjacent bedroom with a spacious patio round out the second floor. Smart systems and a fenced-in front yard are a few additional clever details of this dreamy enclave.”
Offered at $2,439,000 Stephanie Younger Compass 310-499-2020
WESTSIDE RESORT LIVING
“Enjoy awesome sunsets and cool breezes from this extensively upgraded 1BD/1BA condo,” says agent Sheri Weisbender. “Beautifully distressed, hickory wood floors greet you at the entry of the light and bright living room. The remodeled, open concept kitchen, with a breakfast bar, makes cooking a pleasure. It’s like living in a resort. Enjoy the pool, hot tub, sundecks, fitness center, sauna, steam room, and recreation rooms. All of this is located in a serene setting with mature trees, and koi ponds. The California lifestyle at its best! Easy access to Westwood Village, restaurants, and shops.”
Offered at $529,000 Sheri Weisbender Rodeo Realty - Beverly Hills 310-849-5840
MARINA ARTS DISTRICT PENTHOUSE
“This exquisite penthouse loft is the largest penthouse in the coveted Steel Lofts boutique building,” says agent Tara Klein. “Come home to a bright and spacious home with a large and functional floor plan including white wood floors, designer kitchen with custom cabinetry, a large dining area soaring 12 ½ foot ceilings that give this loft an open and airy feeling throughout. The custom bookshelves in the front sitting area and the oversized walls are perfect for displaying art. Step outside to the magnificent private deck with southern exposure that is perfect for indoor/outdoor living.”
Offered at $1,700,000 Tara Klein Sotheby's International Realty 310-546-7611
MARINA DEL REY TOWNHOME
“Extensively renovated 2BD/2BA townhome in Villa Velletri is situated in the heart of Silicon Beach,” says agent Jesse Weinberg. “The home welcomes you with a garden-like setting. This unit offers a great open floorplan ideal for entertaining with an expansive living room, vaulted ceilings, hardwood floors, fireplace, and sliding glass doors that open up to a private patio. The eat-in kitchen offers stainless steel appliances, breakfast bar, qaurtz countertops and adjacent dining area. Upstairs offers two generous sized bedrooms both with en-suite updated spa-like bathrooms.”
Offered at $1,149,000 Jesse Weinberg Jesse Weinberg & Associates 800-804-9132
THE ARGONAUT REAL ESTATE BUSINESS NEWS
Creative mortgages can help elderly parents keep their homes
Options include a line-of-credit that can never be cancelled, parent loans, group home loans and jumbo mortgages.
By Jeff Lazerson | jlazerson@mortgagegrader.com | MortgageGrader.com | May 01, 2021
Do your parents want to stay in their home? Or negatively amortizing mortgages. But there are plenty of jumbo investors who maybe they want to buy a home to get away from the rent trap. The financial assessment qualifying bar is relatively low. They can take out the line-of-credit now and offer more practical underwriting for unique circumstances. For example, bank statement loans. Thinking outside the proverbial mortgage not use it until they need it. This ensures they have Fannie just says “no” when it comes to adding underwriting box might just get them there. access to this type of loan since they may not up bank statement deposits to calculate income. There are plenty of parents with the physical and mental prowess to live on their own. Either the parents or their children or the combination of both qualify later if their finances diminish, said McCue. The line amount is based on the youngest borrower’s date of birth. At least one borrower Many a lender offers jumbos and other formulas for boosting mom and dad’s income outside the traditional underwriting box. may be financially capable of qualifying for the must be 62 or older. Unlike a bank HELOC that While they are not named parent loans, a few plethora of little-known mortgages available in the might typically be without costs, this never-cancel jumbo lenders allow non-occupant co-borrowers for marketplace. Here are some options. HELOC (until you die or move out) will cost 2% mortgage qualifying purposes, just like Fannie Mae. Reverse mortgages: There are 27 million households in the U.S. with someone who is 62 or older, according to Jon McCue, director of for upfront FHA mortgage insurance of any initial draw plus points, escrow, title and the like, McCue said. Let’s talk about being in the chips even with weak tax returns. One jumbo lender allows the kids to help qualify on a bank-statement mortgage to client relations at the National Reverse Mortgage Parent loans: How about co-signing for your folks calculate income so long as at least one person Association. if they can’t otherwise qualify? Maybe they want to (parent or child) is self-employed. Can you trust the bank to keep your home equity line-of-credit, or HELOC, open for a number of live on their own. Or what about helping mom and pop buy a group home for them and their friends? Los Angeles and Orange County jumbos decreased in 2018, but increased in 2019 and 2020, years? Banks famously and notoriously froze and Fannie Mae calls this a parent loan. As long as according to Attom Data Solutions. The numbers cancelled home-equity lines-of-credit during the the parents can’t qualify on their own, they can fluctuated up and down in San Bernardino County mortgage meltdown days of the Great Recession. get owner-occupied mortgage rates with as little and dropped for four straight years in Riverside Let’s say grandma and grandpa are equity as 5% down. County. rich and house poor or will eventually tap out Jumbos: Sometimes the Fannie Mae loan limits For higher-priced homes with larger mortgages, my of their retirement savings. They could get an don’t go high enough. Sometimes there are detective work found just one lender who allows FHA reverse mortgage with a credit line that mortgage qualifying challenges that don’t allow adult children to co-sign a Fannie Mae first and a grows larger as they age. Even if home values for Fannie Mae type mortgages. Calling mortgages traditional HELOC “piggy-back” to get around higher decrease, the line of credit continues to grow. above those limits jumbo loans implies they’re jumbo mortgage rates. You’ll need to put at least You never have to pay a penny back on these large. 10.1% down for this mortgage. Creative financing is the name of the game. Ask. Don’t assume mom and dad are stuck in a situation that they are trying to improve upon. Freddie Mac rate news: The 30-year fixed rate averaged 2.98%, 1 basis point higher than last week. The 15-year fixed rate averaged 2.31%, 2 basis points higher than last week. The Mortgage Bankers Association reported a 2.5% decrease in mortgage application volume from the previous week. Bottom line: Assuming a borrower gets the average 30-year fixed rate on a conforming $548,250 loan, last year’s payment was $74 more than this week’s payment of $2,306. What I see: Locally, well-qualified borrowers can get the following fixed-rate mortgages with 1-point cost: A 30-year FHA at 2.25%, a 15-year conventional at 2%, a 30-year conventional at 2.625%, a 15-year conventional high-balance ($548,251 to $822,375) at 2.25%, a 30-year conventional high-balance at 2.875% and a jumbo 30-year fixed at 3.125%.
THIS WEEK’S CONTRIBUTION CAME FROM:
Jeff Lazerson is a mortgage broker. He can be reached at 949-334-2424 or jlazerson@mortgagegrader.com. His website is www.mortgagegrader.com.
