A tear-streaked Tracy Orr sat in the back row of a foreclosure auction watching bidders in the front row vie for her 4-bedroom home in Pottsboro, Texas at a much-reduced rate from when she bought it back in 2004. Orr, who lost her job only months after the purchase, has struggled to keep her beloved home ever since, finally losing her grip after having sold some land to satisfy arrears. Her last-ditch effort was to make the 80-mile drive into Dallas for the auction with an investor friend, who cancelled the plans at the last minute, so Orr sat at the back of the auction with her family, her home in the catalog without even a photograph in the listing, fighting back her tears.

That is when Marilyn Mock sat down beside her, asking Orr if she was there to buy a home. At this point, Tracy Orr lost her battle with tears that now flowed freely as she explained: “That’s my house.” On the blind, Marilyn Mock jumped into the bidding action and bought the home that was once bought by the Orr family at $80,000 for the bargain of $30,000. Mock, a business owner who deals in flagstone and other rocks in Rockwall, Texas, decided to guarantee the sale with one of her dump trucks as collateral. She had come to the auction with her 27-year-old son to purchase his first home and once finished, stumbled upon Tracy Orr.

Marilyn Mock is one who loves people, never giving up the opportunity to speak with others around her. She claims that you can always find out interesting things when you are open to people, and in striking up a conversation with Tracy Orr, she felt she HAD to do something to help. As for payment for the house, Mock is willing to see how much Tracy Orr can pay for the house so she can have it back with a comfortable payment arrangement. When Mock went home and told her husband that she just bought a house for a complete stranger, her husband did not flinch. He is used to her Good Samaritan nature. She cannot walk past a homeless person on the street without offering at least something.

Tracy Orr was in shock at the turn of her luck in several seconds’ time. Her restored faith in life and humanity has given her the strength to keep going and hold her head up high. Her house is located near a popular Texas fishing spot and Mock’s passion for fishing is satisfied for life, for she has a lifetime friend with a home to stay in on all future angling trips.

Unveiling a new menu, new decor, and a new home for L.A.’s Upright Cabaret, the yearlong celebration of its 20th anniversary benefits not only the restaurant but The Trevor Project, the nation’s only 24-hour crisis counseling line for gay and questioning youth.

The landmark at 861 North La Cienaga Boulevard has earned its reputation as a wonderful local dining spot thanks to its delicious menu, elegant interior design, and always beautiful staff. With its recently completed facelift, dinners at Mark’s should be more exciting than ever, thanks to a huge 100-inch video set, updated lighting, carpeting, booths, theater-style marquee, and semi-private dining areas.

The anniversary party on the 28th will be closed to the public, but otherwise, we’ll be seeing you at Mark’s!

A luxury condominium on the 38th floor in Century City recently sold for a record $15 million. But even that price won’t get you the top view. For that privilege, you’d have to double that purchase price… to an astounding $30 million.

The penthouse on the 42nd floor is still available, and the developer of the Century City development has already received an offer to pay $2,700 per square foot for a unit that will sit on half of the 38th floor. The previous record for a Los Angeles condo was $1,700 per square foot for a unit near Doheny and Sunset in West Hollywood.

What is it about the Westside that continues to prosper despite the hardships faced elsewhere? Perhaps, the homeowners in the communities of Beverly Hills, Hollywood Hills, West Hollywood, Brentwood, and Century City weren’t as drawn as other owners to the subprime mortgages being offered just a short while ago. Or maybe it’s simply that with so much wealth already concentrated in these areas, Westside owners have been able to absorb the increased payments more easily than others.

Whatever the reason, here’s to the continued strength of the real estate market in the Westside.

According to the California Department of Alcoholic Beverage Control, Trader Joe’s is about to open a third location near the former Virgin Megastore building at Sunset and Crescent Heights.

When the third store opens, just about everyone in West Hollywood will have a TJ’s within walking distance, yet another reason to love living there.

• Alexander McQueen
• Ports 1961
• Vera Wang

As if that weren’t enough, Catherine Malandrino is soon to open a 6,000 square foot space a short distance across the street on La Cienaga.

West Hollywood on Melrose has definitely been experiencing a gentrification for some time now. Being so close to Beverly Hills’ tony Robertson shops, is it any wonder that the stardust is drifting west?

Even Councilmember Jeffrey Prang seemed uneasy with the act. "While I like the project," he said. "In approving it, we opened up about 49 other properties to increased height of 62 feet. We didn’t increase zoning, per se, but we expanded density potential with no independent review, debate, or public process."

Consequently, those properties have an unfair advantage over other applications which must still conform to the original 45 foot limit. This could have been avoided if taller height districts had been implemented instead, but this would have required more time and local input.

The pair bringing the suit have hired John B. Murdock to represent them. Murdock was also involved in Playa Vista and the Lincoln Place (Santa Monica) land use suits.

Incorporating earth-friendly practices into every-day workplace activities, the bureau’s initiative aligns with its new slogan of "Living Forward" while helping to preserve the environment.

Among the new measure the Visitors Bureau has implemented to be more earth-friendly are:

• Partnering with Cultivate Communications, only one of two printers in the Greater Los Angles Area to hold both Forest Stewardship Council and Sustainable Forestry Initiative certifications, to print on eco-friendly paper the official 2008 West Hollywood Visitors Guide as well as all further collateral material
• Implementing the use of USB flash drives to supplement the use of full, printed press kits
• Creation of a company-wide recycling program

The Bureau also plans on offering recommendations to local hotels and businesses on how to make their working environment more green.

Congratulations to the West Hollywood Visitors Bureau for contributing to a greener environment that we’ll all benefit from.

Citing increasing costs, steep rent, and decreasing music sales coupled with an increase in online music purchasing, officials at Virgin announced that the media outlet would have to be closed. "We’re trying to reposition the business, and a lot of our stores are too big for the future." said Simon Wright, CEO of Virgin Megastore North America.

Similar market forces have also led to the closure of the New York Times Square Virgin Megastore.

The upside of the closure is that everything in the store has been marked down to clear all inventory by the end of the month. Not one to miss out on a bargain, even Britney Spears took advantage of the low prices by buying a basket of discounted merchandise.

So if you’re in the area, take the time to shop one last time at this iconic location and grab yourself some bargains at the same time.

Mortgage Rates

By long term trends, 2007 interest rates were extremely low. The Federal Reserve Board lowered rates an aggressive half-point in September to 4.75% "to foster price stability and sustainable economic growth." The pool of home buyers is smaller but more qualified to make good on their loans.

Housing Demand

While 2007 didn’t match 2005 and 2006 in housing sales volume, it was still the fifth best housing sales market in history. Houses were being bought and sold while solid mortgage loans were being made throughout the year.

The Economy

Unemployment held low and steady at 4.6% for the previous two years. To put that fact in context, that’s better than all but three years in the last 30. U.S. personal income held steady in 2007.

There were definitely great things happening in the real estate market in 2007. Here’s to an even brighter 2008.