November 2012

Found 14 blog entries for November 2012.

Lauren Ashburn, Daily Downloads pundit hostess, noted that you do not have the right to privacy if you are the head of the CIA and cant conduct a clandestine affair. She has a point, you know. Sort of like a candidate for Secretary of the treasury losing a fortune in the Treasury securities market.

 

Everywhere we look, it seems, there is evidence of incompetence. (But did we expect Petraus to be a competent cheater? I hope not.)

 

I think, in any case, that weve all learned far more about damaging personal behavior in high places than we ever wanted to. We didnt have to put up with this nonsense back when FDR and JFK and probably most contemporary politicians in office were concealing their private lives.

 

Now, sadly, flirtations and romps

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Market Update-With the news showing signs the economy is still struggling, and the Fiscal cliff getting ever closer with no signs of compromise. We should see the market continue to rally.

My position on MBS stays Long.

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Low Inventory continues to be the main Issie in Sacramento. The county of Sacramento on average holds close to 6 months of inventory, today it holds less than 3 weeks.

This is the big issue with home buyers that I am experiencing. Most home buyers that are purchasing a home with a FHA or VA loan cannot compete with the massive overbidding on homes and the majority of the offers are not only 30-50K over the asking price, "They are all cash".

Until banks start to release properties for the average home buyer to purchase and put a stop on no-owner occupied buyers. we can expect another year like 2012 in 2013.

Being aggressive is the only way to get a home in this market.

Homes For Sacramento"

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DOORBUSTERS HIT WALL STREET... On Black Friday, stocks were selling as hot as doorbusters, which on Wall Street means prices go UP. The Dow and the S&P 500 posted their best weekly gains since June 8, while the tech-heavy Nasdaq busted up an impressive 4%. It was a holiday-shortened week, with just three and a half days of trading. Investors were feeling good on Friday about data out of Germany and China, two recent sources of economic worry, while on the home front, Black Friday retail action raised everyone's holiday spirit.

Investors' spirits were also raised by their growing sense that a deficit reduction agreement will be reached to avoid the fiscal cliff of automatic tax hikes and spending cuts slated to kick in January 1. Falling off this cliff…
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INFO THAT HITS US WHERE WE LIVE... We may not be standing in the middle of a fully recovered housing market, but we're clearly moving in that direction. Existing Home Sales were UP 2.1% in October, staying right near their highest level in over two years. Sales are up 10.9% from a year ago. The median price is now $178,600, up 11.1% over a year ago. And the supply of existing homes dropped from 5.6 to 5.4 months. The inventory of existing homes is down to 2.14 million, the lowest level since December 2002.

Anyone who still thinks the housing market isn't in recovery had only to look at October Housing Starts, which grew 3.6% to an annual rate of 894,000 units. Multi-family starts were up 11.9% and are up 57.1% versus a year ago. Single-family starts dropped…
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Grant Program to help towards down payment or closing cost!

If you go with standard FHA financing with 3.5% down at $200,000 your down payment will be $7,000 plus closing cost aprox. $7000 for a total of aprox. $14,000 with an est rate of 3.5% and payment of $1325. With the platinum program your est. funds to close is $10,000 plus you have to have 2 months reserves aprox. $2700 left in your savin... gs after closing. The difference in payment is about $25. I attached your standard pre approval as well. Note the Platinum program pre approval tells the agent they must use a specific title company that is required.

Below are the details about the Platinum program as an example at 200k Purchase Price. The Rate at 3.5% on this program right now, you would…
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