Click Here For More Information!
10.01.2009
9.15.2009
Price Just Reduced to $114,900! 1379 Sussex Ave E, Tenino, WA 98589
Just listed: 1379 Sussex Ave E, Tenino, WA 98589 for $114,900
Click here for more info!
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9.08.2009
Just listed: 4419 4419 Covey St SE, Olympia, WA 98501 for $259,900
Just listed: 4419 4419 Covey St SE, Olympia, WA 98501 for $259,900
Click here for more info!
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9.04.2009
8.17.2009
7.07.2009
Just Reduced! 7708 Mesplay Ave SE
Comfortable and Charming!$199,900
MLS#29024770
Welcome home to this comfortable and charming 3 br, 2.25 bath home featuring 1370 square feet. Recently remodeled, this home has a new roof in 2007, new interior paint, new vinyl windows, new carpet, new tile and laminate, updated bathrooms and much, much more! Featuring a living room and family room with wood stove, this functional floor plan is just what you need. Large master suite. Fully fenced backyard. Home sits at the end of a dead end street and is close to the freeway, shopping, and schools. This home is a perfect starter! Come see, come sigh!
Post comment here to request for information:
5.22.2009
For Sale: 1221 SE Fireweed Rd
1221 SE Fireweed Rd$219,900
Brand New! Never Lived in! This Adair home has a very peaceful setting – down a quiet road and on a large 1.54 acre lot. This sought after, one-story home features 1920 square feet, 4 bedrooms, and 2 baths. The yard is a blank canvas and ready for you to make it your own. 2 car garage.
For Rent! 6112 Huntington Lane SE
6112 Huntington Lane SE$1,200/month
This home is a just like new, spacious two-story home featuring 3 br, 2.5 baths and 1276 square feet. Fenced back yard, two car garage, and laundry room inside home. All appliances included! New carpet and new paint. The community has a clubhouse, pool, and park. The home is close to I5, Ft Lewis, shopping and much more! First and last months rent plus $300 damage deposit. 6112 Huntington Lane SE, Lacey WA 98503. Call for an application.
Tax Credit Ineligible for Down Payment
Feds reverse rule to assist first-time home buyers.
Federal officials on Monday reversed an earlier decision to allow first-time home buyers to use an $8,000 tax credit to borrow the down payment on a home.
A week earlier, U.S. Department of Housing and Urban Development Secretary Shaun Donovan had told the National Association of Home Builders that HUD would let banks and local governments offer short-term "bridge loans" to cover the down payment for first-time buyers eligible for the tax credit. The loans would have been available to applicants for federally insured mortgages such as Federal Housing Administration loans.
Lenders, home builders and real- estate agents had reacted favorably to the bridge-loan proposal, saying it would open up the housing market to more first-time buyers.
However, not everyone was in favor of using the tax credit as collateral on a down-payment loan.
"That tax credit should be savings, not debt," said Patricia Garcia-Duarte, executive director of Neighborhood Housing Services in Phoenix.
Garcia-Duarte said the proposal too closely resembled a now-illegal practice known as seller-funded down-payment assistance, which allowed a home's seller to "gift" the down payment to a specific buyer through a non-profit organization.
Phoenix loan originator Dean Wegner was among the housing-industry professionals who had expressed enthusiasm about the bridge-loan plan.
Wegner said the program would have boosted local home sales, but he added that the bridge loans likely would have come with a high interest rate.
The loans also could have created income-tax issues, according to the IRS officials who shot down HUD's plan.
Still, Wegner remains optimistic that the government will seek other means to circumvent the FHA's required 3.5 percent down payment.
"They will probably come out with a zero-down FHA loan starting January 1, once the $8,000 goes away," he said.
May. 19, 2009 12:00 AM
The Arizona Republic
Federal officials on Monday reversed an earlier decision to allow first-time home buyers to use an $8,000 tax credit to borrow the down payment on a home.
A week earlier, U.S. Department of Housing and Urban Development Secretary Shaun Donovan had told the National Association of Home Builders that HUD would let banks and local governments offer short-term "bridge loans" to cover the down payment for first-time buyers eligible for the tax credit. The loans would have been available to applicants for federally insured mortgages such as Federal Housing Administration loans.
Lenders, home builders and real- estate agents had reacted favorably to the bridge-loan proposal, saying it would open up the housing market to more first-time buyers.
However, not everyone was in favor of using the tax credit as collateral on a down-payment loan.
"That tax credit should be savings, not debt," said Patricia Garcia-Duarte, executive director of Neighborhood Housing Services in Phoenix.
Garcia-Duarte said the proposal too closely resembled a now-illegal practice known as seller-funded down-payment assistance, which allowed a home's seller to "gift" the down payment to a specific buyer through a non-profit organization.
Phoenix loan originator Dean Wegner was among the housing-industry professionals who had expressed enthusiasm about the bridge-loan plan.
Wegner said the program would have boosted local home sales, but he added that the bridge loans likely would have come with a high interest rate.
The loans also could have created income-tax issues, according to the IRS officials who shot down HUD's plan.
Still, Wegner remains optimistic that the government will seek other means to circumvent the FHA's required 3.5 percent down payment.
"They will probably come out with a zero-down FHA loan starting January 1, once the $8,000 goes away," he said.
May. 19, 2009 12:00 AM
The Arizona Republic
4.23.2009
Oprah's Going Green Show
I like to tivo a lot of shows during the day to see if there are any good topics worth watching. Yesterday was Earth Day and Oprah did her show on going green. It was very insightful and I wanted to share some of the information about making your home a "Green House." You may also read the full article by clicking here.
1. Use LED or compact flouresent light bulbs
2. Use a programmable thermostat
3. Weather strip your windows and doors
4. Use drapes to heat and cool your home
5. Switch to an LCD TV - the smaller the better
6. Use a smart power strip
7. Put a water Aerator on your faucet
8. Use an at home water filtration system instead of buying water bottles
9. Use Energy Star appliances
10. Use reusable cloth dishtowels instead of paper towels
11. Make your own cleaning supplies
12. Insulate your water heater
Going Green Resources
Use these websites, organizations and books to start making a difference in our environment.
1. Use LED or compact flouresent light bulbs
2. Use a programmable thermostat
3. Weather strip your windows and doors
4. Use drapes to heat and cool your home
5. Switch to an LCD TV - the smaller the better
6. Use a smart power strip
7. Put a water Aerator on your faucet
8. Use an at home water filtration system instead of buying water bottles
9. Use Energy Star appliances
10. Use reusable cloth dishtowels instead of paper towels
11. Make your own cleaning supplies
12. Insulate your water heater
Going Green Resources
Use these websites, organizations and books to start making a difference in our environment.
Money-Saving Offers
Saving Our Oceans
FabienCousteau.org
Ocean Conservancy
National Oceanic and Atmospheric Administration
Algalita Marine Research Foundation
A Pocket Guide to Sustainable Seafood
FabienCousteau.org
Ocean Conservancy
National Oceanic and Atmospheric Administration
Algalita Marine Research Foundation
A Pocket Guide to Sustainable Seafood
Federal Tax Credits
More from the Show
Recycle for cash at RecycleBank.com
Simran Sethi's website is SimranSethi.com
Where you can recycle your old items
Recycle for cash at RecycleBank.com
Simran Sethi's website is SimranSethi.com
Where you can recycle your old items
4.17.2009
A Plan to Get Things Moving!
It is with great joy that we inform you that last night, the Senate Ways and Means Committee unanimously adopted our amendment to the state budget authorizing the State Treasurer to invest $25 million in a short-term loan program in order to provide an advance payment of the federal first-time home buyers' tax credit, allowing potential home buyers to utilize the tax credit as down payment when closing the sale of their first home.
The 2009 Economic Recovery and Revitalization Act included a "refundable" tax credit worth up to 10% of the home purchase price with a maximum of $8,000 for taxpayers who purchase a home between January 1 and November 30, 2009. There is a demand from first-time home buyers - responsible people with jobs, good credit, and the ability to make the monthly mortgage payment. However, many of these potential home buyers still need down payment assistance and they can't get the $8,000 until after the sale is closed. Lack of down payment is the only barrier to home ownership for up to 50 percent of qualified first time home buyers. The Washington State Treasurer's Office, Housing Finance Commission and Washington REALTORS® are proposing a Tax Credit Advance Loan program that would advance the $8,000 tax credit at closing of a home sale and be repaid when the credit is received by the IRS. Now more than ever, housing choices are critical not only to our families and children but also to reviving the economy. Washington's economic health depends on a healthy, vibrant housing market, which accounts for 24% of the state's employment and a significant portion of state tax revenues in sales, property, business and occupation and real estate excise taxes. This effort to amend the state budget to include the budget proviso was made possible through no small amount of effort with plenty of credit to go around. Certainly, the leadership of State Treasurer Jim McIntire and Sen. Steve Hobbs played a key role as champions in the Senate to adopt the amendment. And the solid efforts of our coalition partners, expert lobbying team and key individuals made the difference. To be clear, while this is a critical victory, it is only one important step in the process of adopting the state budget. The budget, with this proviso authorizing the advance loan program, must be adopted by the full Senate and House, and signed by the Governor before it becomes effective. We will keep you posted as further activity on the budget occurs. Following, please find a link to a editorial from the Everett Herald urging the Legislature to adopt this common-sense approach to reviving the housing market. A plan to get things moving: WEDNESDAY, APRIL 15, 2009
9:06 pm http://www.heraldnet.com/article/20090415/OPINION01/704159932#
The 2009 Economic Recovery and Revitalization Act included a "refundable" tax credit worth up to 10% of the home purchase price with a maximum of $8,000 for taxpayers who purchase a home between January 1 and November 30, 2009. There is a demand from first-time home buyers - responsible people with jobs, good credit, and the ability to make the monthly mortgage payment. However, many of these potential home buyers still need down payment assistance and they can't get the $8,000 until after the sale is closed. Lack of down payment is the only barrier to home ownership for up to 50 percent of qualified first time home buyers. The Washington State Treasurer's Office, Housing Finance Commission and Washington REALTORS® are proposing a Tax Credit Advance Loan program that would advance the $8,000 tax credit at closing of a home sale and be repaid when the credit is received by the IRS. Now more than ever, housing choices are critical not only to our families and children but also to reviving the economy. Washington's economic health depends on a healthy, vibrant housing market, which accounts for 24% of the state's employment and a significant portion of state tax revenues in sales, property, business and occupation and real estate excise taxes. This effort to amend the state budget to include the budget proviso was made possible through no small amount of effort with plenty of credit to go around. Certainly, the leadership of State Treasurer Jim McIntire and Sen. Steve Hobbs played a key role as champions in the Senate to adopt the amendment. And the solid efforts of our coalition partners, expert lobbying team and key individuals made the difference. To be clear, while this is a critical victory, it is only one important step in the process of adopting the state budget. The budget, with this proviso authorizing the advance loan program, must be adopted by the full Senate and House, and signed by the Governor before it becomes effective. We will keep you posted as further activity on the budget occurs. Following, please find a link to a editorial from the Everett Herald urging the Legislature to adopt this common-sense approach to reviving the housing market. A plan to get things moving: WEDNESDAY, APRIL 15, 2009
9:06 pm http://www.heraldnet.com/article/20090415/OPINION01/704159932#
4.06.2009
Special Tax Break Available for New Car Purchases This Year
The IRS has released IR 2009-30 to remind taxpayers of a temporary tax incentive that will be available to them for the purchase of a new car, light truck, motor home or motorcycle during 2009. The deduction is available for the cost of all state and local sales and excise taxes paid on up to $49,500 of the purchase price. The amount of the deduction is phased out for taxpayers whose modified adjusted gross income is between $125,000 and $135,000 for individual filers and between $250,000 and $260,000 for joint filers. The vehicle must be purchased after Feb. 16, 2009, and before Jan. 1, 2010, to qualify for the deduction. The special deduction is available regardless of whether a taxpayer itemizes deductions on their return. The IRS reminded taxpayers the deduction may not be taken on 2008 tax returns.
4.04.2009
Bizpack
I just found a great new service, that you will love, and I wanted to get this to you before time ran out on this special deal!It’s called BizPack™ and I call it a “Business in a Box” because it allows anyone to market ANY business with the latest high tech tools such as an INTEGRATED program featuring client tracking software, auto responders, drip email, videos, and MUCH more. How competitive IS your business? Do you communicate with clients often enough?
Could you increase referrals and sales if you did? Wouldn’t it be great to put your prospecting and marketing on “auto-pilot?”This program also has a completely NEW tool... Nothing like it out there on the market! It is called “Udeduct™” ..a program to help you KEEP more of your money, and increase your cash flow through identifying, quantifying and tracking potential business tax deductions. Could you increase your NET WORTH by thousands withOUT making more money... Just better tracking your tax deductions? Very possibly! Do you have software tools you only use 30% of because they didn’t come with enough training? Not with this... You’ll have UNLIMITED free training on both the technical aspects of the program AND the “soft side” ..sales and marketing webinars by successful professionals to help you GROW your business.
With this... You might be in business FOR yourself... But never BY yourself!Don’t HAVE a business? You do NOW!! The best thing about BizPack is that it IS a business all unto itself and right now, IF you take action... There is NO “agent fee” ever for this business. A business with no “overhead?” Wow!TRUST ME... Just sign up for this THEN watch the video on the site.
Right now... You can lock in the opportunity to save the $170 activation fee... AND the $50 Agent fee by PRE-REGISTERING (deadline is April 4th @ Midnight MST). There is NO obligation – when the program goes “live” April 6th @ 8 am MST – if you love it as much as I think you will... You just saved yourself $170-$220. If not... No harm, no foul... No obligation.
It’s a “no-brainer” - so “just do it” and stick in your name and email to get on the “VIP list.”
You’ll get a “free business” regardless so... When you get your web site address (2 minutes)... Turn around and starting calling everyone YOU know... And send this out to them!
Remember.. $23 a month (or more) per client... Per month.. For YOU if you choose!
Do it now... Time is running out!
>> http://www.MyBizPack.com/jessicachase ...Video on the site with more information – very exciting!
Could you increase referrals and sales if you did? Wouldn’t it be great to put your prospecting and marketing on “auto-pilot?”This program also has a completely NEW tool... Nothing like it out there on the market! It is called “Udeduct™” ..a program to help you KEEP more of your money, and increase your cash flow through identifying, quantifying and tracking potential business tax deductions. Could you increase your NET WORTH by thousands withOUT making more money... Just better tracking your tax deductions? Very possibly! Do you have software tools you only use 30% of because they didn’t come with enough training? Not with this... You’ll have UNLIMITED free training on both the technical aspects of the program AND the “soft side” ..sales and marketing webinars by successful professionals to help you GROW your business.
With this... You might be in business FOR yourself... But never BY yourself!Don’t HAVE a business? You do NOW!! The best thing about BizPack is that it IS a business all unto itself and right now, IF you take action... There is NO “agent fee” ever for this business. A business with no “overhead?” Wow!TRUST ME... Just sign up for this THEN watch the video on the site.
Right now... You can lock in the opportunity to save the $170 activation fee... AND the $50 Agent fee by PRE-REGISTERING (deadline is April 4th @ Midnight MST). There is NO obligation – when the program goes “live” April 6th @ 8 am MST – if you love it as much as I think you will... You just saved yourself $170-$220. If not... No harm, no foul... No obligation.
It’s a “no-brainer” - so “just do it” and stick in your name and email to get on the “VIP list.”
You’ll get a “free business” regardless so... When you get your web site address (2 minutes)... Turn around and starting calling everyone YOU know... And send this out to them!
Remember.. $23 a month (or more) per client... Per month.. For YOU if you choose!
Do it now... Time is running out!
>> http://www.MyBizPack.com/jessicachase ...Video on the site with more information – very exciting!
2.19.2009
7505 Rainier Rd SE
Lots of PERKS!$199,900
MLS#29021855
Close to town perks but the privacy of living in the country, this adorable custom home sits on nearly 1 acre. With 3 bedrooms, 2 baths, 1440 square feet, this home features 2 newly renovated bathrooms with custom tile work, top of the line fixtures, and exquisite details. The work of a perfectionist! You’ll love the craftsman woodwork throughout the home, the eat in kitchen and large living room with wood stove. All appliances stay! The exterior features lots of parking space, a fire pit, outbuildings and grassy areas for springtime fun. New electrical, new cadet heaters, newly textured walls…need I say more?
Post comment here to request more information:
5121 Keating Rd. NW Olympia, WA 98502
JUST REDUCED! $200,000
Over 3 Acres with Saltwater View! $200,000
MLS#28165252
3.41 acres on Steamboat Island! A well and septic will make this property the perfect building site for your dream home!
Post comment here for more info:
2.17.2009
Economic Stimulus Package
Check out the latest update on the stimulus package from the president of Realtors point of view:
Here's our take on the Stimulis Bill and Treasury announcements made this week. We look at the Stimulis package AND the Treasury's package holistically, in compliment with each other - mostly because that's how the Obama team is looking at it. Your representatives, the NAR Board of Directors, asked us in November to do 4 things (with an unspoken but clearly understood mandate to PRESERVE what we already have). Here they are: 1) get loan limits raised for high cost areas, 2) make the $7,500 tax credit NOT a loan, 3) try to find ways to push interest rates down (which are higher than they should be due to systemic risk right now) by 200 basis points, and 4) help provide solutions to the foreclosure/short sale problem.So here's what we have achieved: 1) the loan limits will be raised to $727,000 in high cost areas, 2) the tax credit will be raised to $8,000 with NO payback [a true credit], 3) interest rates have come down 125-150 basis points, and 4) the bill has over $50 billion in it for foreclosure mitigation, with Geitners Treasury plan signaling that the second half of TARP and TALF will be used to mitigate foreclosures through a government guarantee, drive down interest rates by buying another $200-300 billion of mortgage paper from the GSES's thereby freeing them up to do the same with new mortgages, and Fannie has just agreed to lift the cap of 4 investment properties eligible for loans and raise it to 10. In addition, we preserved what we have - which some tend to forget is always on the table when these negotiations start up again - mortgage interest deductability, real estate tax deductability, and the $250,000/$500,000 cap gains exclusion (an overall package worth more than $100 billion and for some a very attractive funding source for their pet projects). We did make a run at the $15,000 credit -- and we would have loved to have gotten that or the Homebuilders $22,000 credit idea as well as their 5 year loss carryback deal, but they were considered too rich for this program. What it did do though is totally take the debate off of whether a tax credit should be reinstated at all (it expired last year) and whether it was a true credit or a repayable loan, and kept the conversation on how much it should be. It also kept the debate off of 'what we are willing to give up to get a $15,000 tax credit' and kept the debate again, on how much it should be. It's pretty hard to complain when they give you what you ask for and you lose something you never had. While we study the Treasury specifics on their major role in providing the rest of the housing solution -- there is much more to come and we are working diligently with the Administration to help 'unclog the pipeline' and get capital flowing into housing again.
Here's our take on the Stimulis Bill and Treasury announcements made this week. We look at the Stimulis package AND the Treasury's package holistically, in compliment with each other - mostly because that's how the Obama team is looking at it. Your representatives, the NAR Board of Directors, asked us in November to do 4 things (with an unspoken but clearly understood mandate to PRESERVE what we already have). Here they are: 1) get loan limits raised for high cost areas, 2) make the $7,500 tax credit NOT a loan, 3) try to find ways to push interest rates down (which are higher than they should be due to systemic risk right now) by 200 basis points, and 4) help provide solutions to the foreclosure/short sale problem.So here's what we have achieved: 1) the loan limits will be raised to $727,000 in high cost areas, 2) the tax credit will be raised to $8,000 with NO payback [a true credit], 3) interest rates have come down 125-150 basis points, and 4) the bill has over $50 billion in it for foreclosure mitigation, with Geitners Treasury plan signaling that the second half of TARP and TALF will be used to mitigate foreclosures through a government guarantee, drive down interest rates by buying another $200-300 billion of mortgage paper from the GSES's thereby freeing them up to do the same with new mortgages, and Fannie has just agreed to lift the cap of 4 investment properties eligible for loans and raise it to 10. In addition, we preserved what we have - which some tend to forget is always on the table when these negotiations start up again - mortgage interest deductability, real estate tax deductability, and the $250,000/$500,000 cap gains exclusion (an overall package worth more than $100 billion and for some a very attractive funding source for their pet projects). We did make a run at the $15,000 credit -- and we would have loved to have gotten that or the Homebuilders $22,000 credit idea as well as their 5 year loss carryback deal, but they were considered too rich for this program. What it did do though is totally take the debate off of whether a tax credit should be reinstated at all (it expired last year) and whether it was a true credit or a repayable loan, and kept the conversation on how much it should be. It also kept the debate off of 'what we are willing to give up to get a $15,000 tax credit' and kept the debate again, on how much it should be. It's pretty hard to complain when they give you what you ask for and you lose something you never had. While we study the Treasury specifics on their major role in providing the rest of the housing solution -- there is much more to come and we are working diligently with the Administration to help 'unclog the pipeline' and get capital flowing into housing again.
1.12.2009
This Week in Review
"HAVE THE NERVE TO GO INTO UNEXPLORED TERRITORY." Alan Alda. Taking those words to heart, Bonds and home loan rates did exactly that last week, reaching historic levels.
A few important news items from last week... First, the results are in on the Fed's first run at purchasing Mortgage Backed Securities under their new $500 Billion buying program. Over the last week, the Fed bought $10.2 Billion of Mortgage Backed Securities. Any time there is increased buying demand - for anything - prices will move higher. When Bond prices move higher, home loan rates improve.
Next, Stocks faced selling pressure last week due to a rash of earnings warnings from the nation's retailers, including Macy's, who announced they are closing eleven stores. Because money coming out of Stocks is often parked over into the Bond market, Bonds and home loan rates responded by reaching never-before-seen levels.
Finally, the job market reached a level not seen since 1945. The Labor Department reported on Friday that there were 524,000 jobs lost during the month of December.
All told, there were 2,600,000 jobs lost in 2008, which represents the biggest job loss in any calendar year since 1945, when 2,750,000 jobs were lost as the wartime economy was demobilized. But we must consider that there are a lot more people in the US today. Adding further sting to the report was the Unemployment Rate, which shot up higher than expectations to 7.2%, the highest reading in 16 years.
As we know...Bonds and home loan rates typically improve on negative economic news, since money will flow out of Stocks and into Bonds when bad news hits the wires. But keep in mind, these are volatile times - and it's hard to know how long the good times will last for home loan rates. Regardless of if you see a move or a refinance in your future, let's review your situation to determine if any decisions need to be made at this time.
A few important news items from last week... First, the results are in on the Fed's first run at purchasing Mortgage Backed Securities under their new $500 Billion buying program. Over the last week, the Fed bought $10.2 Billion of Mortgage Backed Securities. Any time there is increased buying demand - for anything - prices will move higher. When Bond prices move higher, home loan rates improve.
Next, Stocks faced selling pressure last week due to a rash of earnings warnings from the nation's retailers, including Macy's, who announced they are closing eleven stores. Because money coming out of Stocks is often parked over into the Bond market, Bonds and home loan rates responded by reaching never-before-seen levels.
Finally, the job market reached a level not seen since 1945. The Labor Department reported on Friday that there were 524,000 jobs lost during the month of December.
All told, there were 2,600,000 jobs lost in 2008, which represents the biggest job loss in any calendar year since 1945, when 2,750,000 jobs were lost as the wartime economy was demobilized. But we must consider that there are a lot more people in the US today. Adding further sting to the report was the Unemployment Rate, which shot up higher than expectations to 7.2%, the highest reading in 16 years.
As we know...Bonds and home loan rates typically improve on negative economic news, since money will flow out of Stocks and into Bonds when bad news hits the wires. But keep in mind, these are volatile times - and it's hard to know how long the good times will last for home loan rates. Regardless of if you see a move or a refinance in your future, let's review your situation to determine if any decisions need to be made at this time.
Now that the holidays are over and a new year has begun, now is the perfect time to make sure you are ready for 2009. Here are five things you should do this month that will make your life easier in the months ahead:
1. Clean Out the Clutter: You keep saying you'll do it...go ahead and do it. Spend an hour going through your old files, and shred those receipts, bills, and statements you no longer need, like old ATM receipts and utility bills, paystubs more than a year old, and receipts for things that are not deductible.
2. Get Organized: While you're at it, create new files for your 2009 tax-related papers and receipts. Examples of categories include medical expenses, gift and charitable donations, and home improvements.
3. Check the Gift Card Fine Print: If you received gift cards as a present over the holidays, use them soon. Some have expiration dates, or the amount on the card may get reduced over time. In addition, in the current economy, retailers that go out of business may not honor gift cards.
4. Do Some Review: Review your various insurance policies - life, home, auto, etc - to make sure the coverage you have is still the best fit for your needs and situation. To save on cash out of pocket, you might even consider raising your deductible to get a lower premium.
5. Do Some Reflection: Take an honest look at your schedule and responsibilities and make sure you are taking the time you need to stay healthy and feel good. Don't feel bad about actually scheduling specific blocks of time to exercise or spend special time with family and friends, to ensure it actually happens. This will make everything else you have to do this year easier...and more enjoyable, too!
1.05.2009
Weekly Review
Last Week in Review
"AN OPTIMIST STAYS UP UNTIL MIDNIGHT TO SEE THE NEW YEAR IN. A PESSIMIST STAYS UP TO MAKE SURE THE OLD YEAR LEAVES." Bill Vaughan. 2008 turned out to be a historic year on many counts, and optimists and pessimists alike were glad to close the books and say goodbye to the old year. In observance of the New Year's holiday, the Bond market closed early last Wednesday and was closed all day Thursday, but there was still plenty of time for volatility due to several noteworthy news items. With a great deal of midweek activity, Bond pricing ended the week slightly worse with home loan rates about .125% higher than where they began.
Early last week, a renewal of military conflict between Hamas in Palestinian Gaza and Israel sent crude oil jumping higher on concerns of supply disruption, causing volatile activity in both Stocks and Bonds. The strife in the region continues, and may cause more movement in the financial markets over the coming weeks.
GMAC received a $6 Billion lifeline from the Treasury to help stave off a bankruptcy protection filing or complete shutdown. This would have spelled big trouble for GM, as GMAC helps to finance purchases of most GM vehicles. This assistance is part of a larger effort to help aid the troubled auto industry, and GMAC announced that they will immediately resume financing to a wider range of car buyers. Stocks moved higher on the good news, which pulled a bit of money out of Bonds and caused home loan rates to rise.
NOTE: Stocks have made some nice moves higher of late, breaking above a key line in the sand at their own 50-day Moving Average. And with a great deal of cash on the sidelines waiting to be put back to work, as well as retirement money getting ready to be invested before tax time, this could spell better days ahead for Stocks. While money flowing into Stocks can sometimes pull money from Bonds and cause home loan rates to rise, the Fed has said they will be doing some buying of Mortgage Bonds, which could help home loan rates weather the storm much better than they have in the past.
In economic report news, the Chicago Purchasing Managers Index - which measures manufacturing activity - came in at 34.1, very close to estimates of 33.0. But Consumer Confidence somewhat unsurprisingly missed advance expectations of 45.5, arriving at a dismal, record low of 38.0. Just by way of perspective, last year at this time, Consumer Confidence was at 88.6...so there's been quite a decline during 2008.
Also adding to the movement in the markets last week, the Securities and Exchange Commission recommended against suspending FASB 157, otherwise known as fair-value accounting rules or "mark to market". These rules led to the failure of many financial institutions that really weren't in bad shape, but simply made them appear to be overleveraged as they were forced to value their assets against distressed institutions selling at steep discounts. This announcement was not a surprise, as it wasn't expected that they would completely eliminate the rule and go back to the days of Enron-style accounting and valuation systems which lacked transparency. For now, the SEC is instead suggesting "improvements" to deal with illiquid markets and reducing the number of models used to measure impaired assets...but the details of those "improvements" are yet unknown.
Rest assured that as 2009 kicks into full gear, I will be watching closely and keeping you updated as to all the latest financial news stories, market action, and home loan rate developments. Because windows of opportunity can be fleeting, please call me to look over your own financial situation so that we are ready to act on your behalf.
Forecast for the Week
As the first full trading week in the New Year begins, more important news is coming as we look forward to Friday's Jobs Report, which will show the number of jobs lost or gained in December. Remember that the Department of Labor averages their numbers, and part of each month's report includes "revisions" to the several prior months' numbers.
The employment news last month was record-breaking: 533,000 jobs were lost during the month of November, which represented the most job losses the US has seen in 35 years. Additionally, November was only the fourth time in 58 years that our economy lost over 500,000 jobs. And adding more pain to last month's Report were heavy downward revisions for September and October, which erased an additional 199,000 jobs.
I'll be watching closely to see how Bonds and home loan rates respond to the Report...and all the other news this coming week is sure to have in store! Again, I encourage you to get in touch with me to review your own home loan scenario. We can determine together if it makes sense to consider acting on the low home loan rates currently available.
"AN OPTIMIST STAYS UP UNTIL MIDNIGHT TO SEE THE NEW YEAR IN. A PESSIMIST STAYS UP TO MAKE SURE THE OLD YEAR LEAVES." Bill Vaughan. 2008 turned out to be a historic year on many counts, and optimists and pessimists alike were glad to close the books and say goodbye to the old year. In observance of the New Year's holiday, the Bond market closed early last Wednesday and was closed all day Thursday, but there was still plenty of time for volatility due to several noteworthy news items. With a great deal of midweek activity, Bond pricing ended the week slightly worse with home loan rates about .125% higher than where they began.
Early last week, a renewal of military conflict between Hamas in Palestinian Gaza and Israel sent crude oil jumping higher on concerns of supply disruption, causing volatile activity in both Stocks and Bonds. The strife in the region continues, and may cause more movement in the financial markets over the coming weeks.
GMAC received a $6 Billion lifeline from the Treasury to help stave off a bankruptcy protection filing or complete shutdown. This would have spelled big trouble for GM, as GMAC helps to finance purchases of most GM vehicles. This assistance is part of a larger effort to help aid the troubled auto industry, and GMAC announced that they will immediately resume financing to a wider range of car buyers. Stocks moved higher on the good news, which pulled a bit of money out of Bonds and caused home loan rates to rise.
NOTE: Stocks have made some nice moves higher of late, breaking above a key line in the sand at their own 50-day Moving Average. And with a great deal of cash on the sidelines waiting to be put back to work, as well as retirement money getting ready to be invested before tax time, this could spell better days ahead for Stocks. While money flowing into Stocks can sometimes pull money from Bonds and cause home loan rates to rise, the Fed has said they will be doing some buying of Mortgage Bonds, which could help home loan rates weather the storm much better than they have in the past.
In economic report news, the Chicago Purchasing Managers Index - which measures manufacturing activity - came in at 34.1, very close to estimates of 33.0. But Consumer Confidence somewhat unsurprisingly missed advance expectations of 45.5, arriving at a dismal, record low of 38.0. Just by way of perspective, last year at this time, Consumer Confidence was at 88.6...so there's been quite a decline during 2008.
Also adding to the movement in the markets last week, the Securities and Exchange Commission recommended against suspending FASB 157, otherwise known as fair-value accounting rules or "mark to market". These rules led to the failure of many financial institutions that really weren't in bad shape, but simply made them appear to be overleveraged as they were forced to value their assets against distressed institutions selling at steep discounts. This announcement was not a surprise, as it wasn't expected that they would completely eliminate the rule and go back to the days of Enron-style accounting and valuation systems which lacked transparency. For now, the SEC is instead suggesting "improvements" to deal with illiquid markets and reducing the number of models used to measure impaired assets...but the details of those "improvements" are yet unknown.
Rest assured that as 2009 kicks into full gear, I will be watching closely and keeping you updated as to all the latest financial news stories, market action, and home loan rate developments. Because windows of opportunity can be fleeting, please call me to look over your own financial situation so that we are ready to act on your behalf.
Forecast for the Week
As the first full trading week in the New Year begins, more important news is coming as we look forward to Friday's Jobs Report, which will show the number of jobs lost or gained in December. Remember that the Department of Labor averages their numbers, and part of each month's report includes "revisions" to the several prior months' numbers.
The employment news last month was record-breaking: 533,000 jobs were lost during the month of November, which represented the most job losses the US has seen in 35 years. Additionally, November was only the fourth time in 58 years that our economy lost over 500,000 jobs. And adding more pain to last month's Report were heavy downward revisions for September and October, which erased an additional 199,000 jobs.
I'll be watching closely to see how Bonds and home loan rates respond to the Report...and all the other news this coming week is sure to have in store! Again, I encourage you to get in touch with me to review your own home loan scenario. We can determine together if it makes sense to consider acting on the low home loan rates currently available.
1.02.2009
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