There are 12 blog entries for September 2008.
Monday, September 29th, 2008 at 2:00pm. 765 Views, 0 Comments.
A surprising safe haven for savings
An emerging story beneath the headlines
By Dave Jenks, Vice President of Research and Development and Jay Papasan, Vice President of Publishing and Executive Editor, Keller Williams Realty
Amidst fears of a financial market freefall, the real estate market is emerging as a bright spot. Indicators are pointing to an end to the bust; in fact, real estate may be poised for a bounce.
While consumers are scrambling to diversify their saving and investment accounts and retreating from paper assets (e.g. stocks) into hard assets (e.g. gold), the savviest among them are looking deeper than morning’s headlines and realizing that real estate is a solid investment option in the current market.
Friday, September 26th, 2008 at 1:39pm. 616 Views, 0 Comments.
What led to the bailout?In recent years, loan underwriting became more relaxed, making homeownership possible for more and more people. Many of these loans were called subprime mortgages and they were often riskier than regular mortgages. At the same time, these mortgages were packaged with other kinds of debt and sold on Wall Street as mortgage-backed securities. They were in demand because housing was strong and home prices…
Tuesday, September 23rd, 2008 at 5:27pm. 278 Views, 0 Comments.
While people are running around as if their heads are on fire and the world is going to end, I think it is a very important time to step back and take a lesson from history.
Yes, the country as a whole may be in for some tough times.
But, will the world as we know it end and leave us looking around for some sort of a sign of what life used to be before the DISASTER TO TOP ALL DISASTERS?? History would tell us NO.
This is not the first time that our government or markets have failed us and probably won’t be our last. In the words of Gary Keller in his new book The Shift, “SHIFT HAPPENS!” Your financial advisor would probably tell you that it is not the time to pull your long term growth funds and I am telling you it is definitely…
Tuesday, September 23rd, 2008 at 4:55pm. 313 Views, 0 Comments.
~Compliments of the New York TimesBy STEPHEN LABATON and EDMUND L. ANDREWSPublished: September 7, 2008
WASHINGTON — The Bush administration seized control of the nation’s two largest mortgage finance companies on Sunday, seeking to shrink drastically their outsize influence on Wall Street and on Capitol Hill while at the same time counting on them to pull the nation out of its worst housing crisis in decades.
The bailout plan for the companies, Fannie Mae and Freddie Mac, a seismic event in a year of repeated financial crises followed by aggressive federal intervention, places the companies in a government conservatorship, much like a bankruptcy reorganization. The plan also replaces the management of the companies.
Monday, September 22nd, 2008 at 2:33pm. 243 Views, 0 Comments.
Daily Commentary & Rates
Monday, September 22, 2008
After such a long spell of lousy news on the housing front – for sellers and owners, that is – here's a surprise: In today's housing market, there are just 3.9 months of for-sale inventory in Sacramento County and West Sacramento versus 11.4 months a year ago. Thank goodness for REO’s, short sales, and non-owner purchases. Currently 25% of listings are on homes repossessed by banks.
($200,000 - $417,000)
Monday, September 22nd, 2008 at 2:31pm. 245 Views, 0 Comments.
Celebrate the Bay Area's best in food and wine at San Francisco magazine's fifth annual FallFest, hosted by San Francisco magazine Food Editor Jan Newberry and Miss Pearl's Jam House Consulting Chef and Bay Café host Joey Altman. Leading local restaurateurs, winemakers, eco experts, and artisans join together for an inspiring day of premier food and wine tasting, chef demonstrations, an eco-cocktail competition, live music, and panel discussions that celebrate eating and living local. To top it all off, FallFest benefits Meals on Wheels of San Francisco.
Saturday, October 11
Noon to 4 p.m.
Justin Herman Plaza
MAIN EVENT $95 advance / $110 at the door
BUY EARLY! The event sold out in 2007.
Tuesday, September 16th, 2008 at 9:04pm. 227 Views, 0 Comments.
Tuesday, September 16, 2008
Today's big economic news will be the FOMC announcement at 2:15PM, 11:15AM PST. Estimates range from leaving overnight rates unchanged to a cut of .50%. Every lender is hoping that the latter doesn’t happen, otherwise they will be forced to explain all over again why overnight rates don’t necessarily impact 30-yr mortgage rates. Fed Fund futures point to about a 66% chance that the Fed will lower overnight rates by 25 bps. And of course bonds are watching stocks, which are pointing to a lower opening after yesterday’s Dow drop of 504 pts and are down 18% for the year.
Monday, September 15th, 2008 at 10:48am. 304 Views, 0 Comments.
We are pleased to let you know that according to a recent national survey, Keller Williams Realty has received the highest overall satisfaction ratings from home buyers among all the largest, full-service real estate firms in the country! As reported on the Inman News Website in late August, the study measures home buyers' customer satisfaction. To read this article from Inman, click here.
The results were determined in three categories, including satisfaction with their agent, office and services provided. Keller Williams Realty topped all three areas, therefore receiving the highest score in overall satisfaction.
Monday, September 15th, 2008 at 10:33am. 322 Views, 0 Comments.
Greater Circle Living offers a $5,000 forgivable loan for down payment and/or closing costs for the purchase of an owner-occupied home by full-time employees of any nonprofit institution in Greater University Circle (see map).
Loans are forgiven if the employee continues to work for a participating Greater University Circle institution (see your employer for specific eligibility requirements) and continues to occupy the residence for five years after the loan closes.
Employees of Case Western Reserve University, Cleveland Clinic, Cleveland Museum of Art, Judson at University Circle and University Hospitals may be eligible for an additional $10,000 forgivable loan for down payment or closing costs for the purchase of an owner-occupied home, or one…
Monday, September 8th, 2008 at 9:38am. 624 Views, 0 Comments.
Here is what Craig Jarrell of Pulaski Mortgage had to say about the news:The implied guaranty of the government has nowbecome a direct guaranty and subsidy. How willthis affect the average consumer and Realtor? I predict the following changes: Interest rates will rally about one quarter to one half of one percent lower as borrowing costs are reduced. Conforming limits will rise and become more nationalin scope in all 50 states. Jumbo lending will benefit from higher conforming limits. There will be an orderly transition over the next 5-10years of more portfolio lending by banks and lessreliance on Fannie and Freddie. Fannie and Freddiewill shrink by design by two-thirds in the next ten…