October 2008

There are 10 blog entries for October 2008.

The news we have all been curious about is finally out, The Argenta will be rentals not condos. I know there have been a lot of people just waiting for their sales office to open. There are a lot of other great buildings in the area that are still worth considering. There is something for everyone. The Artani, The Hayes or Symphany Towers are all great buildings just up the street from the Argenta. Call me and we can set up an appointment.


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If you have been wondering what the purpose was for all the construction along Euclid Avenue the past few years or if you have even gotten used to it and avoided the street all together, you may want to re-visit the situation.  


The Euclid Corridor or “Health Line” as it has been named by its Cleveland Clinic and University Hospital sponsors, will finally be unveiled today.  All 7.1 miles and $200 million dollars of this hybrid electric public transportation phenomenon is finally done! 


The Health Line will connect Public Square with University Circle all the way to East Cleveland.  The best part about it is its all green.  The buses themselves are powered by electricity and clean burning diesel fuel and if you haven’t been down Euclid

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Something is happening in Cleveland, its not your imagination.  People are working together to help create a re-birth of this city because they see the historic significance of our neighborhoods, they know the potential of our people and they are dedicated to seeing Cleveland achieve all that it is capable of.

One great example of this phenomenon is the Glenville Wade Park Neighborhood and what is happening at its newest housing undertaking, Heritage Lane.  This is a row of century old multi-family homes that have been restored as single family homes.  The quality and beauty of the time tested construction has been maintained while combining modern luxurious amenities to create something truly special.  The rehabilitated historic homes are complimented

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What is the difference between a manufacturing economy and a health care driven economy? Well, there are obviously many differences but the one that has to stick out during these tough economic times across the country, is that health care is recession proof.  The fact is that when people start to get scared about the country’s economic future and even their own jobs and start to tighten their belts, purchase less and start saving more, what they don’t do is stop going to the doctor.  


Whether times are hard or prosperous, people still get sick and still depend on the resources and advancements of a strong healthcare driven industry.  What does this have to do with Cleveland’s high-rises?  The answer is plenty!


According to an article in

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WXZ Development should be one of the first in a handful of eager developers to help jump start the Greater Circle Living initiative. You can see hints of new construction in the area, i.e. Woodhaven and Heritage Lane but Circle 118 will bring something fresh and green to the area with its 17 luxury townhomes pre-selling now and set to be completed summer of 2009.


Residential construction in The Greater University Circle district has lagged tremendously, in recent years, to the rate at which commercial expansion is growing.  Cranes and bulldozers on the Clinic and CWRU’s projects have been dominating the landscape for some time now.  Greater Circle Living seems to be trying to change all that and get people to live and not just work in this

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Starting January 1st 2009 FHA will require 3.5% down instead of the standard 3% we are all used to.  This is still much lower than most conventional programs in most cases but if you were thinking of going FHA before the new year you may as well take advantage.  If you have questions about this or other mortgage options please feel free to give me a call.  There are a TON of incentives out there right now to get buyers back in the market, take my advice and use them!

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This Week in Mortgage Sports

Another Rate Cut!

WelcomeNationally we are in a mess and this is needed.  Locally, our housing is, and has been fine (don’t ask about our retirements).  Our buyers can really take advantage of our great rates and stable home prices.  In this economy DFW real estate is a sound investment for your money.  For those that think they are timing the market I ask “how do you know when the strike-point is until you have missed it?”... Read More



Local Home Inventory Down!

HousesFewer homes on the market = more demand for what is currently out there = stable home prices!... Read More



2% Gain in Pre-owned Home Sales?

I have been saying it for over a year!  Our market is strong!!  The down turn was a
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Fall is officially here with our great weather here in San Francisco. It is a very exciting time of year for this city -- The art scene starts their new season. There are some great new buildings on the market. The long awaited re-opening of the California Academy of Science in Golden Gate Park and the  New Contemporary Jewish Museum opened its doors this summer and is about to host StoryCorps .


You know that blank wall in your home that is in need of a good piece of art work? The search is on in the month of October. Every weekend in October BAY AREA artists open up their studios to the public. This is an opportunity to see artists in their workspaces. It's a great way to find a piece or two of artwork for your home .  You can meet the artist buy

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Daily Commentary & Rates

Thursday, October 09, 2008

The rate cuts around the world didn’t help mortgage rates, at least yesterday. In fact, mortgage rates shot up yesterday. Later in the day we also heard the Fed say that it is ready and willing to use its power to boost lender and bank balance sheets through cash infusions. The remainder of the session was choppy, but most investors worsened rates and prices. Treasury prices initially opened higher but the tide turned midmorning and prices headed lower for the remainder of the day on poor showings in Treasury auctions.



Conforming Rates
($200,000 - $417,000) 0 Points 1 Point
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 Here is a note from Craig Jarrell on the current state of the credit market: On the eve of the Vice Presidential debate, the Senate has adopted the bailout plan and it moves now to the House for a vote.   Despite the hysterics of the media, the world has not ended and the sky is not falling. Banks are still liquid, the stock market goes up and down and the world goes round and round.   Dallas continues to lead the nation in the lowest decline in home prices at 2.5% which bottomed in February of 2008. Interest rates remain around 6.00% for a 30 year fixed mortgage. FHA loans and 5% down conventional loans are abundant for all with credit scores above 580. This only leaves out the borrowers who are not financially…
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