September 2008

There are 11 blog entries for September 2008.

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.

Home prices have

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This week, the Treasury Department has proposed a sweeping new bailout plan for banks, designed to stabilize financial markets. The plan is designed to calm the financial sector and give banks an outlet to sell their bad debt so they can resume lending again. Here are some of the basic points you need to know about the bailout. 

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…
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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 not the

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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.


Conforming Rates

($200,000 - $417,000)

0 Points

1 Point

30 Year

1,831 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.

1,703 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.



Conforming Rates

($200,000 - $417,000)

1,811 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.

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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

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Here is what Craig Jarrell of Pulaski Mortgage had to say about the news:

The implied guaranty of the government has now become a direct guaranty and subsidy. How will this 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 national in scope in all 50 states.   Jumbo lending will benefit from higher conforming limits.   There will be an orderly transition over the next 5-10 years of more portfolio lending by banks and less reliance on Fannie and Freddie. Fannie and Freddie will shrink by design by two-thirds in the next ten years.   Lower…
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Nashville Business Journal

September 4, 2008

Nashville has landed at the No.10 spot in Forbes Magazine's annual Best Places to Retire rankings.

Music City was cited for its mild weather, proximiity to top-notch universities and affordable housing.

In an earlier 2008 Forbes ranking for affordable housing Nashville ranked No. 9 in the country.

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