Now, what does the change of the year make a real difference or is it a state of mind? Something, about having a clean slate makes us feel more secure or renewed. But, does it really happen or is it more of the same stuff different day covered up with new a new attitude?I am a weird fish and believe that a number makes a difference. The number 8 alone makes me feel like you chase your own tail and never get out of the loop. Just look at it and do you see what I mean. The number 9 looks like you revist some of the old stuff but you break free from the loop to maybe do something different or make changes that don't have you chasing your tail.
I suppose it is a silly thought, but I am hoping that the banking, insurance, government, real estate, the world for that matter loop around on the good stuff for a while and then break free and do something different and hopefully it will be better changes then we saw ourselves do last year.
Have a wonderful new and successful year.
Wednesday, December 31, 2008
Wednesday, December 17, 2008
Real Estate Outlook: Sales Picking Up Tempo
Here's a key question about the current market: Do you look at home prices to figure out where we are in the real estate recovery cycle, or do you focus on sales?
In an economy where an estimated 35 to 40 percent of all home transactions are foreclosures or short sales - distress situations in other words -- prices won't really guide you much beyond the conclusion that: We're still "correcting” the excesses of the boom years, still peeling back those wild and unsustainable hyperinflationary price run ups.
So it's no surprise that median prices are down, year to year, in a majority of large markets across the country.
Sales statistics, on the other hand, tell you how fast buyers are responding to those lower prices -- and greatly improved affordability.
Right now, in market after market, sales are picking up tempo -- especially in places where prices once spiraled out of control.
Third quarter sales of existing homes in the U.S. were up by 2.6 percent over second quarter 2008 levels, according to the National Association of Realtors' latest study.
That's not spectacular -- but let's face it: It's forward movement … and we're in a recession. In the Western states, sales were up by 13.1 percent in the third quarter! In Florida, sales jumped by 5 percent from year earlier levels, while median selling prices were down by 20 percent.
In a majority of Florida's metropolitan markets, sales were up, year over year. For example, Orlando sales were 10 percent higher this October than the year before. Sales were up strongly as well in hard-hit Ft. Myers and much of the west coast of the state, and Fort Lauderdale, north of Miami.
Similar recent upturns in sales are occurring in many of the California markets where prices have plummeted during the past two years.
No question that a high proportion of these sales are distress situations.
But that's what the bottom of a real estate cycle looks like: Value-savvy buyers see the opportunities, move in and mop up the mess left over after the big party.
Happily, in this cycle, they're getting real help from the capital markets: Mortgage money is at historically-attractive low levels, and is readily available to anyone with a downpayment and reasonable credit.
Rates fell again last week to an average 6.16 percent for 30-year fixed loans, according to the Mortgage Bankers Association, and to 5.87 percent on average for 15 year loans. If you can spot the opportunities -- and have the resources -- it's not a bad time to be a buyer.
Written by Kenneth R. Harney
Call or email today! -- Whether buying or selling, our experience will help you get the bet deal!
In an economy where an estimated 35 to 40 percent of all home transactions are foreclosures or short sales - distress situations in other words -- prices won't really guide you much beyond the conclusion that: We're still "correcting” the excesses of the boom years, still peeling back those wild and unsustainable hyperinflationary price run ups.
So it's no surprise that median prices are down, year to year, in a majority of large markets across the country.
Sales statistics, on the other hand, tell you how fast buyers are responding to those lower prices -- and greatly improved affordability.
Right now, in market after market, sales are picking up tempo -- especially in places where prices once spiraled out of control.
Third quarter sales of existing homes in the U.S. were up by 2.6 percent over second quarter 2008 levels, according to the National Association of Realtors' latest study.
That's not spectacular -- but let's face it: It's forward movement … and we're in a recession. In the Western states, sales were up by 13.1 percent in the third quarter! In Florida, sales jumped by 5 percent from year earlier levels, while median selling prices were down by 20 percent.
In a majority of Florida's metropolitan markets, sales were up, year over year. For example, Orlando sales were 10 percent higher this October than the year before. Sales were up strongly as well in hard-hit Ft. Myers and much of the west coast of the state, and Fort Lauderdale, north of Miami.
Similar recent upturns in sales are occurring in many of the California markets where prices have plummeted during the past two years.
No question that a high proportion of these sales are distress situations.
But that's what the bottom of a real estate cycle looks like: Value-savvy buyers see the opportunities, move in and mop up the mess left over after the big party.
Happily, in this cycle, they're getting real help from the capital markets: Mortgage money is at historically-attractive low levels, and is readily available to anyone with a downpayment and reasonable credit.
Rates fell again last week to an average 6.16 percent for 30-year fixed loans, according to the Mortgage Bankers Association, and to 5.87 percent on average for 15 year loans. If you can spot the opportunities -- and have the resources -- it's not a bad time to be a buyer.
Written by Kenneth R. Harney
Call or email today! -- Whether buying or selling, our experience will help you get the bet deal!
Friday, December 12, 2008
America's Most Affluent Neighborhoods
America's Most Affluent Neighborhoods
These towns have prospered in recent years--but some have tougher times ahead than others.
In an economy like this, even the richest communities across the country are feeling the pain.
Take Southlake, Texas. With an estimated median household income of $172,945, this Dallas suburb is the most affluent neighborhood in the country, mostly due to real estate growth. In 2005, the area doubled its town square shopping center, which bolstered the median household income by over $42,000 since the 2000 census. (Even accounting for inflation, that's still a big bump.)
Brian J.L. Berry, dean of the School of Economic, Political and Policy Sciences at the University of Texas at Dallas, says that what separates Southlake from its white-collar counterparts is undoubtedly its town square. "It is an upscale community with an expression of that status in its town square," says Berry. "If there is anything special about the suburb, it is that square."
The only problem is that there's not much room for Southlake to grow. Add to that the highest nationwide unemployment rate in 14 years and the second-lowest consumer confidence index in 34 years, and it's clear that even neighborhoods like Southlake have the potential to be affected by the recession in some way.
Behind the Numbers
To determine America's most affluent neighborhoods, we looked at average median household income estimates--in communities with populations between 20,000 and 64,999--from 2005 to 2007, provided in the U.S. Census' American Community Survey. On Dec. 9, the Census released data estimates on communities of this size for the first time. These include cities, towns, villages as well as census-designated places (CDP), a type of neighborhood that lacks a separate municipal government, but otherwise physically resembles one of these other places.
Topping the list is Southlake, followed by affluent New York, San Francisco and Washington, D.C., suburbs. But the list could see some shuffles in the months or year ahead.
The Tempe, Ariz.-based Institute for Supply Management's index of manufacturing activity--which the trade association releases each month--fell to 36.2 in November 2008 from 38.9 in October. (An index of 50 or lower indicates that an economy is contracting.) That's a 26-year low. To read more about this story.. visit http://finance.yahoo.com/real-estate/article/106273/America's-Most-Affluent-Neighborhoods
Forbes.com
by Lauren Sherman
Wednesday, December 10, 2008
These towns have prospered in recent years--but some have tougher times ahead than others.
In an economy like this, even the richest communities across the country are feeling the pain.
Take Southlake, Texas. With an estimated median household income of $172,945, this Dallas suburb is the most affluent neighborhood in the country, mostly due to real estate growth. In 2005, the area doubled its town square shopping center, which bolstered the median household income by over $42,000 since the 2000 census. (Even accounting for inflation, that's still a big bump.)
Brian J.L. Berry, dean of the School of Economic, Political and Policy Sciences at the University of Texas at Dallas, says that what separates Southlake from its white-collar counterparts is undoubtedly its town square. "It is an upscale community with an expression of that status in its town square," says Berry. "If there is anything special about the suburb, it is that square."
The only problem is that there's not much room for Southlake to grow. Add to that the highest nationwide unemployment rate in 14 years and the second-lowest consumer confidence index in 34 years, and it's clear that even neighborhoods like Southlake have the potential to be affected by the recession in some way.
Behind the Numbers
To determine America's most affluent neighborhoods, we looked at average median household income estimates--in communities with populations between 20,000 and 64,999--from 2005 to 2007, provided in the U.S. Census' American Community Survey. On Dec. 9, the Census released data estimates on communities of this size for the first time. These include cities, towns, villages as well as census-designated places (CDP), a type of neighborhood that lacks a separate municipal government, but otherwise physically resembles one of these other places.
Topping the list is Southlake, followed by affluent New York, San Francisco and Washington, D.C., suburbs. But the list could see some shuffles in the months or year ahead.
The Tempe, Ariz.-based Institute for Supply Management's index of manufacturing activity--which the trade association releases each month--fell to 36.2 in November 2008 from 38.9 in October. (An index of 50 or lower indicates that an economy is contracting.) That's a 26-year low. To read more about this story.. visit http://finance.yahoo.com/real-estate/article/106273/America's-Most-Affluent-Neighborhoods
Forbes.com
by Lauren Sherman
Wednesday, December 10, 2008
Monday, December 8, 2008
Tips on Saving Water....
* You can use a plastic bucket in your shower to let the cold water run till the hot gets there. Then you can use that water to water plants and animals so it does not just go down the drain.
* Turn the water off while you are brushing your teeth.
* Make sure your toliets are not leaking may need a new flapper a 5-10 dollar piece and a 10 min fix.
* Extreme turn the water off while you lather up.
* Swap out your shower head for a water saver type.
* And double check for secret wasteful things like what is happening in this video.
http://www.dnaco.net/~vogelke/pictures/water-leak/water-leak.wmv
* Turn the water off while you are brushing your teeth.
* Make sure your toliets are not leaking may need a new flapper a 5-10 dollar piece and a 10 min fix.
* Extreme turn the water off while you lather up.
* Swap out your shower head for a water saver type.
* And double check for secret wasteful things like what is happening in this video.
http://www.dnaco.net/~vogelke/pictures/water-leak/water-leak.wmv
Friday, December 5, 2008
Treasury Department Considers Plan to Lower Mortgage Rates
Treasury Department Considers Plan to Lower Mortgage Rates
Financial industry lobbyists are urging the Treasury Department to take steps to lower rates on 30-year mortgages to 4.5 percent.
WASHINGTON -- Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates and help stabilize the battered U.S. housing market. Under one proposal, Treasury would seek to lower the rate on a 30-year mortgage to 4.5 percent by purchasing mortgage-backed securities from Fannie Mae and Freddie Mac, Scott Talbott, chief lobbyist at the Financial Services Roundtable, said Wednesday.
If enacted, such a plan would be an unprecedented opportunity for anyone with good credit and a solid income who could qualify for a mortgage at the lowest rates on records dating to the early 1960s, said Keith Gumbinger, senior vice president at financial publisher HSH Associates. "You would have the mother of all re-fi booms," said mortgage industry consultant Howard Glaser. The goal of the industry's proposal would be to take advantage of the unusually large difference, or spread, between mortgage rates and yields on government debt. On Wednesday, the yield on the 10-year Treasury note yield sank as low as 2.65 percent, while the national average rate on a 30-year fixed rate mortgages was 5.75 percent, according to HSH Associates. In recent years, there has been about a 1.8 percentage point difference between the yield on a 10-year Treasury note and a 30-year mortgage rate, but that spread currently hovers around 3 percentage points.
To read more on this story, click here!
Financial industry lobbyists are urging the Treasury Department to take steps to lower rates on 30-year mortgages to 4.5 percent.
WASHINGTON -- Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates and help stabilize the battered U.S. housing market. Under one proposal, Treasury would seek to lower the rate on a 30-year mortgage to 4.5 percent by purchasing mortgage-backed securities from Fannie Mae and Freddie Mac, Scott Talbott, chief lobbyist at the Financial Services Roundtable, said Wednesday.
If enacted, such a plan would be an unprecedented opportunity for anyone with good credit and a solid income who could qualify for a mortgage at the lowest rates on records dating to the early 1960s, said Keith Gumbinger, senior vice president at financial publisher HSH Associates. "You would have the mother of all re-fi booms," said mortgage industry consultant Howard Glaser. The goal of the industry's proposal would be to take advantage of the unusually large difference, or spread, between mortgage rates and yields on government debt. On Wednesday, the yield on the 10-year Treasury note yield sank as low as 2.65 percent, while the national average rate on a 30-year fixed rate mortgages was 5.75 percent, according to HSH Associates. In recent years, there has been about a 1.8 percentage point difference between the yield on a 10-year Treasury note and a 30-year mortgage rate, but that spread currently hovers around 3 percentage points.
To read more on this story, click here!
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