Daily Quotes Aug. 6 2010
"It's the little things that make the big things possible. Only close
attention to the fine details of any operation makes the operation first
class."
-- J. Willard Marriot
"When a man dies, if he can pass enthusiasm along to his children, he
has left them an estate of incalculable value."
-- Thomas Edison, inventor
"Should you find yourself in a chronically leaking boat, energy devoted
to changing vessels is likely to be more productive than energy devoted
to patching leaks."
-- Warren Buffett, Berkshire Hathaway, CEO
"To be conscious that you are ignorant of the facts is a great step to knowledge."
-- Benjamin Disraeli, British prime minister
"Courage is like a muscle. We strengthen it with use."
-- Ruth Gordon, actress
"The measure of a man is the way he bears up under misfortune."
-- Plutarch, historian
"Once men are caught up in an event, they cease to be afraid. Only the
unknown frightens men."
-- Antoine de Saint-Exupery, aviator
All "Betts" on Brian! The Only Realtor you want!
Friday, August 6, 2010
Thursday, August 5, 2010
Who Would Have Thought Vinegar Was so Handy?
Who Would Have Thought Vinegar Was so Handy?
Vinegar (probably originally from spoiled wine) has been known and used for about 10,000 years. Today we use it for hundreds of tasks including cleaning, laundry, garden, health, automotive, pets and cooking. It's economical, natural, non-toxic and environmentally friendly. Here, from vinegartips.com, are a few ideas for making the most of vinegar:
- Clean counter tops and make them smell sweet again with a cloth soaked in undiluted white distilled vinegar.
- Clean the fridge: use a mixture of half water, half vinegar to wipe down the interior shelves and walls.
- Stop ants from congregating by pouring white distilled vinegar on the area.
- Discourage cats from getting into the kids' sandbox with white distilled vinegar.
See the website
All "Betts" on Brian! The Only Realtor you want!
Vinegar (probably originally from spoiled wine) has been known and used for about 10,000 years. Today we use it for hundreds of tasks including cleaning, laundry, garden, health, automotive, pets and cooking. It's economical, natural, non-toxic and environmentally friendly. Here, from vinegartips.com, are a few ideas for making the most of vinegar:
- Clean counter tops and make them smell sweet again with a cloth soaked in undiluted white distilled vinegar.
- Clean the fridge: use a mixture of half water, half vinegar to wipe down the interior shelves and walls.
- Stop ants from congregating by pouring white distilled vinegar on the area.
- Discourage cats from getting into the kids' sandbox with white distilled vinegar.
See the website
1001 household uses for vinegar
All "Betts" on Brian! The Only Realtor you want!
Daily Quotes!
Daily Quotes Aug. 5 2010
"Too many people overvalue what they are not and undervalue what they are."
-- Malcolm Forbes, Publisher
"Believe you will be successful and you will."
-- Dale Carnegie, motivational speaker
"All glory comes from daring to begin."
-- Alexander Graham Bell, Inventor
"The most important single ingredient in the formula of success is knowing how to get along with people."
-- Theodore Roosevelt, 26th U.S. president
"Being miserable is a habit. Being happy is a habit. The choice isyours."
-- Tom Hopkins, Sales Trainer
"The ability to summon positive emotions during periods of intense
stress lies at the heart of effective leadership."
-- Jim Loehr, psychologist
"If you don't like the situation you're in, you don't have to settle for it. "
-- Macy Gray, Singer
All "Betts" on Brian! The Only Relator you want!
"Too many people overvalue what they are not and undervalue what they are."
-- Malcolm Forbes, Publisher
"Believe you will be successful and you will."
-- Dale Carnegie, motivational speaker
"All glory comes from daring to begin."
-- Alexander Graham Bell, Inventor
"The most important single ingredient in the formula of success is knowing how to get along with people."
-- Theodore Roosevelt, 26th U.S. president
"Being miserable is a habit. Being happy is a habit. The choice isyours."
-- Tom Hopkins, Sales Trainer
"The ability to summon positive emotions during periods of intense
stress lies at the heart of effective leadership."
-- Jim Loehr, psychologist
"If you don't like the situation you're in, you don't have to settle for it. "
-- Macy Gray, Singer
All "Betts" on Brian! The Only Relator you want!
41 Ways to Use Less Energy
41 Ways to Use Less Energy
-
5 Tips for Saving Energy in the Family Room
Reduce your electricity bills by systematically purging your family room of wasteful energy practices. Read
-
12 Tips for Saving Energy in Your Home Office
Cut your power consumption, lighting, and heating and cooling costs when you work from home. Read
-
7 Tips for Saving Energy with Home Lighting
Lighting eats up as much as 20% of your annual electric bill, but using energy-efficient bulbs and making other simple changes can cut lighting costs dramatically. Read
-
10 Tips for Saving Energy in the Kitchen
Maintain your large kitchen appliances is part of a smart home energy efficiency plan. Read
-
7 Tips for Saving Energy in the Laundry Room
Understanding your laundry room appliances is part of a smart plan to help you save energy in your home. Read
Visit houselogic.com for more articles like this.
Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®
Wednesday, August 4, 2010
Daily Quotes!
Daily Quotes Aug. 4 2010
"The making of friends who are real friends is the best token we have of
a man's success in life."
-- Edward Hale, theologian
Age wrinkles the body. Quitting wrinkles the soul."
-- Douglas MacArthur, General
"Long-range goals keep you from being frustrated by short-term failures."
-- J.C. Penney, Retailer and Freemason
"Seek to do good and you will find that happiness will run after you."
-- James Freeman Clarke
"The world makes way for the man who knows where he is going."
-- Ralph Waldo Emerson, Poet
"Everyone has talent. What is rare is the courage to follow the talent to the dark place where it leads."
-- Erica Jong, Author
"I've felt that dissatisfaction is the basis of progress. When we become satisfied in business, we become obsolete."
-- J. Willard Marriott Sr., hotel executive
All "Betts" on Brian! The Only Realtor you want!
"The making of friends who are real friends is the best token we have of
a man's success in life."
-- Edward Hale, theologian
Age wrinkles the body. Quitting wrinkles the soul."
-- Douglas MacArthur, General
"Long-range goals keep you from being frustrated by short-term failures."
-- J.C. Penney, Retailer and Freemason
"Seek to do good and you will find that happiness will run after you."
-- James Freeman Clarke
"The world makes way for the man who knows where he is going."
-- Ralph Waldo Emerson, Poet
"Everyone has talent. What is rare is the courage to follow the talent to the dark place where it leads."
-- Erica Jong, Author
"I've felt that dissatisfaction is the basis of progress. When we become satisfied in business, we become obsolete."
-- J. Willard Marriott Sr., hotel executive
All "Betts" on Brian! The Only Realtor you want!
Tuesday, August 3, 2010
For the week of August 2, 2010
For the week of August 2, 2010
INFO THAT HITS US WHERE WE LIVE
Last week began nicely with June New Home Sales UP 23.6% to an annual rate of 330,000, well ahead of expectations. This was a sharp rebound from May when New Home Sales sank to record lows not seen since 1963. This volatility of course is all about the homebuyer tax credit (requiring a contract by April 30 and a closing by June 30, now extended to September 30). Consequently, new homes sold at a 422,000 pace in April, fell to a 267,000 pace in May, then went to 330,000 in June.
Demographic trends say sales should continue to rebound, as we eventually need to sell new homes at a 950,000 annual rate to meet population growth and replace teardowns. The supply of unsold new homes is now down to 7.6 months, just above the ideal 6-month level. Actual inventories are down to 210,000, their lowest level since 1968, when there were 35% fewer people around.
We also saw that home prices rose 4.6% in May, year-over-year, as tracked by the Standard & Poor's/Case-Shiller National Home Price Indices. The 20-city index was UP 1.3% over the prior month, with 19 of the 20 metros showing gains during that period.
Review of Last Week
A HOT MONTH, JULY... The trading month on Wall Street ended Friday with the markets really heated up for July. The Dow Jones Industrial Average was UP 7.1% for the month, while the broadly based S&P 500 finished UP 6.9%. This was the first positive month for U.S. stocks since April. May and June had investors worrying over China's attempts to slow its growth and a European debt crisis which still hasn't had much impact in the U.S.
The week had a few negatives to please the bears. For example, the Conference Board's Consumer Confidence Index went to 50.4 in July, its second monthly decline. Yes, consumers are concerned about jobs and the pace of recovery, but the fact is, the economy is growing and businesses are making profits, which they will ultimately invest in more jobs. Gloomy types also jumped on the 1.0% drop in Durable Goods for June, yet "core" capital goods (take out defense and volatile aircraft shipments) were UP 0.2% -- their ninth gain in the past ten months!
But the biggest encouragement came from strong second-quarter corporate earnings. With about two-thirds of the S&P500 companies reporting, Thomson Reuters says Q2 operating earnings are on their way to a 36% gain, with revenues UP 9% compared to a year ago. Friday, advanced Q2 GDP came in with real GDP expanding 2.4% annually, UP 3.2% in the last year. So much for the "double-dip" recession. The week ended with the Chicago PMI registering another monthly increase for Midwest manufacturing and University of Michigan Consumer Sentiment also UP from the month before.
For the week, the Dow ended UP 0.4%, to 10465.94; the S&P 500 was down 0.1%, to 1101.60; and the Nasdaq was off 0.7%, to 2254.70.
Even though July was a good month for stocks, the final week was fairly flat. This sent investors to bonds, bolstering prices. The FNMA 30-year 4.0% bond we follow gained 66 basis points for the week, ending at $102.41. Not surprisingly, Freddie Mac's weekly survey of conforming loans showed national average rates for conforming mortgages down for the sixth week in a row, some hitting record lows.
This Week’s Forecast
THE FED'S FAVORITES...The two things the Fed watches most are inflation and jobs. As long as jobs lag in the recovery, the Fed wants to keep rates down to encourage the economy. But with all the cheap money around, if inflation picks up, the Fed will start hiking rates. Tuesday's PCE readings are expected to show inflation is still not a problem. Friday, we get July's Employment Report, with payrolls forecast to be down, but by a smaller number than in June, and the Unemployment Rate remaining around 9.5%.
Tuesday's June Pending Home Sales are expected to be off slightly from their May drop following the expiration of the homebuyer tax credit. Q2 corporate earnings reports continue, including Dow components Procter & Gamble, Pfizer, and Kraft.
The Week’s Economic Indicator Calendar
Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.
Federal Reserve Watch
Forecasting Federal Reserve policy changes in coming months The big surprise for economists would be if the Fed touched rates at all from now to November. The central bank first wants to see the economy growing at a far faster rate, with payrolls back on the rise. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.
All "Betts" on Brian! The Only Realtor you want!
INFO THAT HITS US WHERE WE LIVE
Last week began nicely with June New Home Sales UP 23.6% to an annual rate of 330,000, well ahead of expectations. This was a sharp rebound from May when New Home Sales sank to record lows not seen since 1963. This volatility of course is all about the homebuyer tax credit (requiring a contract by April 30 and a closing by June 30, now extended to September 30). Consequently, new homes sold at a 422,000 pace in April, fell to a 267,000 pace in May, then went to 330,000 in June.
Demographic trends say sales should continue to rebound, as we eventually need to sell new homes at a 950,000 annual rate to meet population growth and replace teardowns. The supply of unsold new homes is now down to 7.6 months, just above the ideal 6-month level. Actual inventories are down to 210,000, their lowest level since 1968, when there were 35% fewer people around.
We also saw that home prices rose 4.6% in May, year-over-year, as tracked by the Standard & Poor's/Case-Shiller National Home Price Indices. The 20-city index was UP 1.3% over the prior month, with 19 of the 20 metros showing gains during that period.
Review of Last Week
A HOT MONTH, JULY... The trading month on Wall Street ended Friday with the markets really heated up for July. The Dow Jones Industrial Average was UP 7.1% for the month, while the broadly based S&P 500 finished UP 6.9%. This was the first positive month for U.S. stocks since April. May and June had investors worrying over China's attempts to slow its growth and a European debt crisis which still hasn't had much impact in the U.S.
The week had a few negatives to please the bears. For example, the Conference Board's Consumer Confidence Index went to 50.4 in July, its second monthly decline. Yes, consumers are concerned about jobs and the pace of recovery, but the fact is, the economy is growing and businesses are making profits, which they will ultimately invest in more jobs. Gloomy types also jumped on the 1.0% drop in Durable Goods for June, yet "core" capital goods (take out defense and volatile aircraft shipments) were UP 0.2% -- their ninth gain in the past ten months!
But the biggest encouragement came from strong second-quarter corporate earnings. With about two-thirds of the S&P500 companies reporting, Thomson Reuters says Q2 operating earnings are on their way to a 36% gain, with revenues UP 9% compared to a year ago. Friday, advanced Q2 GDP came in with real GDP expanding 2.4% annually, UP 3.2% in the last year. So much for the "double-dip" recession. The week ended with the Chicago PMI registering another monthly increase for Midwest manufacturing and University of Michigan Consumer Sentiment also UP from the month before.
For the week, the Dow ended UP 0.4%, to 10465.94; the S&P 500 was down 0.1%, to 1101.60; and the Nasdaq was off 0.7%, to 2254.70.
Even though July was a good month for stocks, the final week was fairly flat. This sent investors to bonds, bolstering prices. The FNMA 30-year 4.0% bond we follow gained 66 basis points for the week, ending at $102.41. Not surprisingly, Freddie Mac's weekly survey of conforming loans showed national average rates for conforming mortgages down for the sixth week in a row, some hitting record lows.
This Week’s Forecast
THE FED'S FAVORITES...The two things the Fed watches most are inflation and jobs. As long as jobs lag in the recovery, the Fed wants to keep rates down to encourage the economy. But with all the cheap money around, if inflation picks up, the Fed will start hiking rates. Tuesday's PCE readings are expected to show inflation is still not a problem. Friday, we get July's Employment Report, with payrolls forecast to be down, but by a smaller number than in June, and the Unemployment Rate remaining around 9.5%.
Tuesday's June Pending Home Sales are expected to be off slightly from their May drop following the expiration of the homebuyer tax credit. Q2 corporate earnings reports continue, including Dow components Procter & Gamble, Pfizer, and Kraft.
The Week’s Economic Indicator Calendar
Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.
Federal Reserve Watch
Forecasting Federal Reserve policy changes in coming months The big surprise for economists would be if the Fed touched rates at all from now to November. The central bank first wants to see the economy growing at a far faster rate, with payrolls back on the rise. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.
All "Betts" on Brian! The Only Realtor you want!
Last Week in the News
Last Week in the News
New home sales rose 23.6% in June to a seasonally adjusted annual rate of 330,000 units from a revised rate of 267,000 units in May. Economists had expected a pace of 310,000 units. On a year-over-year basis, sales of new homes have fallen 16.7%.
The Standard & Poor's/Case-Shiller 20-city housing price index — on a seasonally adjusted basis — rose 1.3% in May after a 0.9% increase in April. On a year-over-year basis, property values increased 4.6%, the largest gain since August 2006.
The consumer confidence index fell to 50.4 in July from an upwardly revised 54.3 in June. Economists had anticipated a reading of 51. The index was benchmarked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending July 23 dropped 4.4%. Refinancing applications fell 5.9%. Purchase volume rose 2%.
Orders for durable goods — items expected to last three or more years — fell 1% in June after decreasing a revised 0.8% in May.
Initial claims for unemployment benefits fell by 11,000 to 457,000 for the week ending July 24. Continuing claims for the week ending July 17 rose by 81,000 to 4.57 million.
The Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at an annual rate of 2.4% in the second quarter of 2010. Economists had expected a slightly larger 2.5% increase. This follows a revised 3.7% pace of growth in the first quarter of 2010.
Upcoming on the economic calendar are reports on construction spending on August 2, pending home sales on August 3 and consumer credit on August 6.
All "Betts" on Brian! The only Realtor you want!
New home sales rose 23.6% in June to a seasonally adjusted annual rate of 330,000 units from a revised rate of 267,000 units in May. Economists had expected a pace of 310,000 units. On a year-over-year basis, sales of new homes have fallen 16.7%.
The Standard & Poor's/Case-Shiller 20-city housing price index — on a seasonally adjusted basis — rose 1.3% in May after a 0.9% increase in April. On a year-over-year basis, property values increased 4.6%, the largest gain since August 2006.
The consumer confidence index fell to 50.4 in July from an upwardly revised 54.3 in June. Economists had anticipated a reading of 51. The index was benchmarked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending July 23 dropped 4.4%. Refinancing applications fell 5.9%. Purchase volume rose 2%.
Orders for durable goods — items expected to last three or more years — fell 1% in June after decreasing a revised 0.8% in May.
Initial claims for unemployment benefits fell by 11,000 to 457,000 for the week ending July 24. Continuing claims for the week ending July 17 rose by 81,000 to 4.57 million.
The Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at an annual rate of 2.4% in the second quarter of 2010. Economists had expected a slightly larger 2.5% increase. This follows a revised 3.7% pace of growth in the first quarter of 2010.
Upcoming on the economic calendar are reports on construction spending on August 2, pending home sales on August 3 and consumer credit on August 6.
All "Betts" on Brian! The only Realtor you want!
Keller Williams Does it again! #1 With Buyers!
Keller Williams Does it again! #1 With Buyers!
Daily Real Estate News | July 28, 2010 | More Buyers Pleased With Real Estate Firms Satisfaction with national real estate companies among home buyers has improved while satisfaction among home sellers has declined in the last year, according to the J.D. Power and Associates 2010 Home Buyer/Seller Study, released Thursday.
J.D. Powers collected 3,000 evaluations from 2,817 respondents who bought or sold a home between March 2009 and April 2010. Overall satisfaction with the buying experience is determined by rating satisfaction with the practitioner, the office they represent, and a variety of additional services. Four factors are examined for the home-selling experience: the quality of the practitioner’s performance, marketing, the office they represent, and other services.
"Among both home buyers and home sellers, the importance of [practitioners] and salespersons has increased substantially in 2010, compared with 2009," said Jim Howland, senior director of the real estate and construction practice at J.D. Power, in a statement.
"Buyers are increasingly relying upon negotiating skills of [practitioners] and seem to be satisfied with the purchase prices they are obtaining. Despite the fact that sales practitioners appear to be doing a good job of negotiating and marketing on behalf of home sellers, the tough economic conditions are negatively impacting their overall satisfaction with real estate companies," Howland added.
On a 1,000-point scale here are the scores in the home buyer segment:
1. Keller Williams, 817
2. Prudential, 811
3. Coldwell Banker, 805
4. Home-Buyer Segment Average, 803
5. RE/MAX, 801
6. Century 21, 798
7. ERA, 785
8. GMAC/Real Living, 765
Satisfaction ratings on a 1,000-point scale from home sellers:
1. Prudential, 760
2. Keller Williams, 751
3. RE/MAX, 744
4. Coldwell Banker, 743
5. Home-Seller Segment Average, 742
6. Century 21, 727
Source: J.D. Power and Associates (07/28/2010)
All "Betts" on Brian! The Only Realtor you want!
Daily Real Estate News | July 28, 2010 | More Buyers Pleased With Real Estate Firms Satisfaction with national real estate companies among home buyers has improved while satisfaction among home sellers has declined in the last year, according to the J.D. Power and Associates 2010 Home Buyer/Seller Study, released Thursday.
J.D. Powers collected 3,000 evaluations from 2,817 respondents who bought or sold a home between March 2009 and April 2010. Overall satisfaction with the buying experience is determined by rating satisfaction with the practitioner, the office they represent, and a variety of additional services. Four factors are examined for the home-selling experience: the quality of the practitioner’s performance, marketing, the office they represent, and other services.
"Among both home buyers and home sellers, the importance of [practitioners] and salespersons has increased substantially in 2010, compared with 2009," said Jim Howland, senior director of the real estate and construction practice at J.D. Power, in a statement.
"Buyers are increasingly relying upon negotiating skills of [practitioners] and seem to be satisfied with the purchase prices they are obtaining. Despite the fact that sales practitioners appear to be doing a good job of negotiating and marketing on behalf of home sellers, the tough economic conditions are negatively impacting their overall satisfaction with real estate companies," Howland added.
On a 1,000-point scale here are the scores in the home buyer segment:
1. Keller Williams, 817
2. Prudential, 811
3. Coldwell Banker, 805
4. Home-Buyer Segment Average, 803
5. RE/MAX, 801
6. Century 21, 798
7. ERA, 785
8. GMAC/Real Living, 765
Satisfaction ratings on a 1,000-point scale from home sellers:
1. Prudential, 760
2. Keller Williams, 751
3. RE/MAX, 744
4. Coldwell Banker, 743
5. Home-Seller Segment Average, 742
6. Century 21, 727
Source: J.D. Power and Associates (07/28/2010)
All "Betts" on Brian! The Only Realtor you want!
Aug Newsletter
Can you believe it’s already August? Summers almost over and it seems like it just started. Soon everyone will be starting back to school and the memories of your summer will be pictures! Now imagine yourself hanging these pictures on the walls of your new home and making that move before winter hits!
You can search the active listings in Utah by going to www.bettshomes.com and setting up a profile! If you are at all interested in finding what your home may be worth in today’s market, feel free to call me and we can set up a private, no obligation, appointment to find out what is going on in your neighborhood!
I also have the 2nd quarter stats for Utah by zip and county in excel. If you would like a copy of this, please respond or call me, and I will send it right out!
Don’t forget for the rest of this year, if you buy or sell a home with me, I will supply you with a $400.00 Home warranty through Old Republic Home Protection! This is for you, your friends, your family, coworkers and anyone that asks for it during our meeting!
Let me know if I can help!
Enjoy the Newsletter!
Truly,
Brian E. Betts
All "Betts" on Brian! The Only Realtor You Want!
Keller Williams Utah Realtors
435-513-0973
betts@kw.com
www.brianebetts.com
You can search the active listings in Utah by going to www.bettshomes.com and setting up a profile! If you are at all interested in finding what your home may be worth in today’s market, feel free to call me and we can set up a private, no obligation, appointment to find out what is going on in your neighborhood!
I also have the 2nd quarter stats for Utah by zip and county in excel. If you would like a copy of this, please respond or call me, and I will send it right out!
Don’t forget for the rest of this year, if you buy or sell a home with me, I will supply you with a $400.00 Home warranty through Old Republic Home Protection! This is for you, your friends, your family, coworkers and anyone that asks for it during our meeting!
Let me know if I can help!
Enjoy the Newsletter!
Truly,
Brian E. Betts
All "Betts" on Brian! The Only Realtor You Want!
Keller Williams Utah Realtors
435-513-0973
betts@kw.com
www.brianebetts.com
Daily Quotes!
Daily Quotes Aug. 3 2010
"It's not your position in life; it's the disposition you have which
will change your position."
-- Dr. David McKinley
"A person is not defeated by their opponents but by themselves."
-- Jan Christiaan Smuts
"What you lack in talent can be made up with desire, hustle and giving
110% all the time."
-- Don Zimmer, Baseball Manager
"Always dream and shoot higher than you know you can do. Don't bother
just to be better than your contemporaries or predecessors. Try to be
better than yourself."
-- William Faulkner, Author
"The majority of men meet with failure because (they don't create) new
plans to take the place of those that fail."
-- Napoleon Hill, motivational expert
"I have always been driven to buck the system, to innovate, to take
things beyond where they've been."
-- Sam Walton, Wal-Mart founder
"In playing ball, and in life, a person occasionally gets the
opportunity to do something great. When that time comes, only two things
matter: being prepared to seize the moment and having the courage to
take your best swing."
-- Hank Aaron, Baseball Player
All "Betts" on Brian! The Only Realtor you want!
"It's not your position in life; it's the disposition you have which
will change your position."
-- Dr. David McKinley
"A person is not defeated by their opponents but by themselves."
-- Jan Christiaan Smuts
"What you lack in talent can be made up with desire, hustle and giving
110% all the time."
-- Don Zimmer, Baseball Manager
"Always dream and shoot higher than you know you can do. Don't bother
just to be better than your contemporaries or predecessors. Try to be
better than yourself."
-- William Faulkner, Author
"The majority of men meet with failure because (they don't create) new
plans to take the place of those that fail."
-- Napoleon Hill, motivational expert
"I have always been driven to buck the system, to innovate, to take
things beyond where they've been."
-- Sam Walton, Wal-Mart founder
"In playing ball, and in life, a person occasionally gets the
opportunity to do something great. When that time comes, only two things
matter: being prepared to seize the moment and having the courage to
take your best swing."
-- Hank Aaron, Baseball Player
All "Betts" on Brian! The Only Realtor you want!
Monday, August 2, 2010
For the week of August 2, 2010
For the week of August 2, 2010
INFO THAT HITS US WHERE WE LIVE
Last week began nicely with June New Home Sales UP 23.6% to an annual rate of 330,000, well ahead of expectations. This was a sharp rebound from May when New Home Sales sank to record lows not seen since 1963. This volatility of course is all about the homebuyer tax credit (requiring a contract by April 30 and a closing by June 30, now extended to September 30). Consequently, new homes sold at a 422,000 pace in April, fell to a 267,000 pace in May, then went to 330,000 in June.
Demographic trends say sales should continue to rebound, as we eventually need to sell new homes at a 950,000 annual rate to meet population growth and replace teardowns. The supply of unsold new homes is now down to 7.6 months, just above the ideal 6-month level. Actual inventories are down to 210,000, their lowest level since 1968, when there were 35% fewer people around.
We also saw that home prices rose 4.6% in May, year-over-year, as tracked by the Standard & Poor's/Case-Shiller National Home Price Indices. The 20-city index was UP 1.3% over the prior month, with 19 of the 20 metros showing gains during that period.
Review of Last Week
A HOT MONTH, JULY... The trading month on Wall Street ended Friday with the markets really heated up for July. The Dow Jones Industrial Average was UP 7.1% for the month, while the broadly based S&P 500 finished UP 6.9%. This was the first positive month for U.S. stocks since April. May and June had investors worrying over China's attempts to slow its growth and a European debt crisis which still hasn't had much impact in the U.S.
The week had a few negatives to please the bears. For example, the Conference Board's Consumer Confidence Index went to 50.4 in July, its second monthly decline. Yes, consumers are concerned about jobs and the pace of recovery, but the fact is, the economy is growing and businesses are making profits, which they will ultimately invest in more jobs. Gloomy types also jumped on the 1.0% drop in Durable Goods for June, yet "core" capital goods (take out defense and volatile aircraft shipments) were UP 0.2% -- their ninth gain in the past ten months!
But the biggest encouragement came from strong second-quarter corporate earnings. With about two-thirds of the S&P500 companies reporting, Thomson Reuters says Q2 operating earnings are on their way to a 36% gain, with revenues UP 9% compared to a year ago. Friday, advanced Q2 GDP came in with real GDP expanding 2.4% annually, UP 3.2% in the last year. So much for the "double-dip" recession. The week ended with the Chicago PMI registering another monthly increase for Midwest manufacturing and University of Michigan Consumer Sentiment also UP from the month before.
For the week, the Dow ended UP 0.4%, to 10465.94; the S&P 500 was down 0.1%, to 1101.60; and the Nasdaq was off 0.7%, to 2254.70.
Even though July was a good month for stocks, the final week was fairly flat. This sent investors to bonds, bolstering prices. The FNMA 30-year 4.0% bond we follow gained 66 basis points for the week, ending at $102.41. Not surprisingly, Freddie Mac's weekly survey of conforming loans showed national average rates for conforming mortgages down for the sixth week in a row, some hitting record lows.
This Week’s Forecast
THE FED'S FAVORITES...The two things the Fed watches most are inflation and jobs. As long as jobs lag in the recovery, the Fed wants to keep rates down to encourage the economy. But with all the cheap money around, if inflation picks up, the Fed will start hiking rates. Tuesday's PCE readings are expected to show inflation is still not a problem. Friday, we get July's Employment Report, with payrolls forecast to be down, but by a smaller number than in June, and the Unemployment Rate remaining around 9.5%.
Tuesday's June Pending Home Sales are expected to be off slightly from their May drop following the expiration of the homebuyer tax credit. Q2 corporate earnings reports continue, including Dow components Procter & Gamble, Pfizer, and Kraft.
The Week’s Economic Indicator Calendar
Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.
Federal Reserve Watch
Forecasting Federal Reserve policy changes in coming months The big surprise for economists would be if the Fed touched rates at all from now to November. The central bank first wants to see the economy growing at a far faster rate, with payrolls back on the rise. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.
Remebr you can call me for any Real Estate Related Needs!
All "Betts" on Brian! The Only Realtor You Want!
www.brianebetts.com
INFO THAT HITS US WHERE WE LIVE
Last week began nicely with June New Home Sales UP 23.6% to an annual rate of 330,000, well ahead of expectations. This was a sharp rebound from May when New Home Sales sank to record lows not seen since 1963. This volatility of course is all about the homebuyer tax credit (requiring a contract by April 30 and a closing by June 30, now extended to September 30). Consequently, new homes sold at a 422,000 pace in April, fell to a 267,000 pace in May, then went to 330,000 in June.
Demographic trends say sales should continue to rebound, as we eventually need to sell new homes at a 950,000 annual rate to meet population growth and replace teardowns. The supply of unsold new homes is now down to 7.6 months, just above the ideal 6-month level. Actual inventories are down to 210,000, their lowest level since 1968, when there were 35% fewer people around.
We also saw that home prices rose 4.6% in May, year-over-year, as tracked by the Standard & Poor's/Case-Shiller National Home Price Indices. The 20-city index was UP 1.3% over the prior month, with 19 of the 20 metros showing gains during that period.
Review of Last Week
A HOT MONTH, JULY... The trading month on Wall Street ended Friday with the markets really heated up for July. The Dow Jones Industrial Average was UP 7.1% for the month, while the broadly based S&P 500 finished UP 6.9%. This was the first positive month for U.S. stocks since April. May and June had investors worrying over China's attempts to slow its growth and a European debt crisis which still hasn't had much impact in the U.S.
The week had a few negatives to please the bears. For example, the Conference Board's Consumer Confidence Index went to 50.4 in July, its second monthly decline. Yes, consumers are concerned about jobs and the pace of recovery, but the fact is, the economy is growing and businesses are making profits, which they will ultimately invest in more jobs. Gloomy types also jumped on the 1.0% drop in Durable Goods for June, yet "core" capital goods (take out defense and volatile aircraft shipments) were UP 0.2% -- their ninth gain in the past ten months!
But the biggest encouragement came from strong second-quarter corporate earnings. With about two-thirds of the S&P500 companies reporting, Thomson Reuters says Q2 operating earnings are on their way to a 36% gain, with revenues UP 9% compared to a year ago. Friday, advanced Q2 GDP came in with real GDP expanding 2.4% annually, UP 3.2% in the last year. So much for the "double-dip" recession. The week ended with the Chicago PMI registering another monthly increase for Midwest manufacturing and University of Michigan Consumer Sentiment also UP from the month before.
For the week, the Dow ended UP 0.4%, to 10465.94; the S&P 500 was down 0.1%, to 1101.60; and the Nasdaq was off 0.7%, to 2254.70.
Even though July was a good month for stocks, the final week was fairly flat. This sent investors to bonds, bolstering prices. The FNMA 30-year 4.0% bond we follow gained 66 basis points for the week, ending at $102.41. Not surprisingly, Freddie Mac's weekly survey of conforming loans showed national average rates for conforming mortgages down for the sixth week in a row, some hitting record lows.
This Week’s Forecast
THE FED'S FAVORITES...The two things the Fed watches most are inflation and jobs. As long as jobs lag in the recovery, the Fed wants to keep rates down to encourage the economy. But with all the cheap money around, if inflation picks up, the Fed will start hiking rates. Tuesday's PCE readings are expected to show inflation is still not a problem. Friday, we get July's Employment Report, with payrolls forecast to be down, but by a smaller number than in June, and the Unemployment Rate remaining around 9.5%.
Tuesday's June Pending Home Sales are expected to be off slightly from their May drop following the expiration of the homebuyer tax credit. Q2 corporate earnings reports continue, including Dow components Procter & Gamble, Pfizer, and Kraft.
The Week’s Economic Indicator Calendar
Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.
Federal Reserve Watch
Forecasting Federal Reserve policy changes in coming months The big surprise for economists would be if the Fed touched rates at all from now to November. The central bank first wants to see the economy growing at a far faster rate, with payrolls back on the rise. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.
Remebr you can call me for any Real Estate Related Needs!
All "Betts" on Brian! The Only Realtor You Want!
www.brianebetts.com
Daily Quotes!
Daily Quotes for Aug. 2 2010
"Few men during their lifetime come anywhere near exhausting the
resources dwelling within them. There are deep wells of strength that
are never used."
-- Richard Byrd, Explorer
"Kindness is more important than wisdom, and the recognition of this is
the beginning of wisdom."
-- Theodore Isaac Rubin, Psychiatrist
"You can't have a better tomorrow if you're thinking about yesterday."
-- Charles Kettering, Inventor
"Sometimes our candle goes out, but is blown into flame by an encounter
with another human being."
-- Albert Schweitzer, Humanitarian
"Always look at what you have left. Never look at what you have lost."
-- Robert Schuller, Clergyman
"If you want risk taking, set an example yourself and reward and praise those that do."
-- Jack Welch, General Electric CEO
"Money is merely a reward for solving problems."
-- Mike Murdock
Remeber to call on me if you need any Real Estate Advice!
All "Betts" on Brian! The Only Realtor you Want!www.brianebetts.com
"Few men during their lifetime come anywhere near exhausting the
resources dwelling within them. There are deep wells of strength that
are never used."
-- Richard Byrd, Explorer
"Kindness is more important than wisdom, and the recognition of this is
the beginning of wisdom."
-- Theodore Isaac Rubin, Psychiatrist
"You can't have a better tomorrow if you're thinking about yesterday."
-- Charles Kettering, Inventor
"Sometimes our candle goes out, but is blown into flame by an encounter
with another human being."
-- Albert Schweitzer, Humanitarian
"Always look at what you have left. Never look at what you have lost."
-- Robert Schuller, Clergyman
"If you want risk taking, set an example yourself and reward and praise those that do."
-- Jack Welch, General Electric CEO
"Money is merely a reward for solving problems."
-- Mike Murdock
Remeber to call on me if you need any Real Estate Advice!
All "Betts" on Brian! The Only Realtor you Want!www.brianebetts.com
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