Daily Quotes Aug. 20 2010!
"Gardens are not made by sitting in the shade."
-- Rudyard Kipling, author
"If the power to do hard work is not a skill, it's the best possible
substitute for it."
-- James Garfield, 20th U.S. President
"If you want the rainbow, you've got to put up with the rain."
-- Dolly Parton, Singer
"Ninety-nine percent of failures come from people who have the habit of
making excuses."
-- George Washington Carver, botanist
"Your goal should be out of reach, but not out of sight."
-- Anita DeFrantz, Olympic rower
"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 Marriott Sr., hotel executive
"The entrepreneur is... the most important player in the building of the
global economy. So much so that big companies are reconstituting
themselves as networks of entrepreneurs."
-- John Naisbitt, writer
All "Betts" on Brian! The Only Realtor you want!
Friday, August 20, 2010
Thursday, August 19, 2010
Daily Quotes!
Daily Quotes Aug. 19 2010!
"The most powerful element in advertising is the truth."
-- William Bernbach, ad executive
"The great creators-the thinkers, the artists, the scientists, the
inventors-stood alone against the men of their time."
-- Ayn Rand, writer
"I learn something new about the game almost every time I step on the course."
-- Ben Hogan, golfer
"There is no such thing as natural touch. Touch is something you create
by hitting millions of golf balls."
-- Lee Trevino, golfer
"No task is a long one but the task on which one dare not start. It
becomes a nightmare."
-- Charles Baudelaire, poet
"The purest treasure mortal times afford is spotless reputation."
-- William Shakespeare, playwright
"A good marriage is when you're married not to someone you can live
with, but to someone you really cannot live without."
-- Dr. Howard Hendricks
All "Betts" on Brian! The Only Realtor you want!
"The most powerful element in advertising is the truth."
-- William Bernbach, ad executive
"The great creators-the thinkers, the artists, the scientists, the
inventors-stood alone against the men of their time."
-- Ayn Rand, writer
"I learn something new about the game almost every time I step on the course."
-- Ben Hogan, golfer
"There is no such thing as natural touch. Touch is something you create
by hitting millions of golf balls."
-- Lee Trevino, golfer
"No task is a long one but the task on which one dare not start. It
becomes a nightmare."
-- Charles Baudelaire, poet
"The purest treasure mortal times afford is spotless reputation."
-- William Shakespeare, playwright
"A good marriage is when you're married not to someone you can live
with, but to someone you really cannot live without."
-- Dr. Howard Hendricks
All "Betts" on Brian! The Only Realtor you want!
Wednesday, August 18, 2010
Daily Quotes!
Daily Quotes Aug. 18 2010!
"Pressure is a word that is misused in our vocabulary. When you start
thinking of pressure, it's because you've started to think of failure."
-- Tommy Lasorda, baseball manager
"Every great dream begins with a dreamer. Always remember, you have
within you the strength, the patience and the passion to reach for the
stars to change the world."
-- Harriet Tubman, Abolitionist
"Happiness is mostly a byproduct of doing what makes us feel fulfilled."
-- Benjamin Spock, Pediatrician
"A person can succeed at almost anything for which they have unlimited enthusiasm."
-- Charles M. Schwab
"Find something you're passionate about and keep tremendously interested in it."
-- Julia Child, chef
"The greatest conflicts are not between two people, but between one
person and himself."
-- Garth Brooks, singer
"We are made to persist. That's how we find out who we are."
-- Tobias Wolff, Writer
All "Betts" on Brian! The Only Realtor you want!
"Pressure is a word that is misused in our vocabulary. When you start
thinking of pressure, it's because you've started to think of failure."
-- Tommy Lasorda, baseball manager
"Every great dream begins with a dreamer. Always remember, you have
within you the strength, the patience and the passion to reach for the
stars to change the world."
-- Harriet Tubman, Abolitionist
"Happiness is mostly a byproduct of doing what makes us feel fulfilled."
-- Benjamin Spock, Pediatrician
"A person can succeed at almost anything for which they have unlimited enthusiasm."
-- Charles M. Schwab
"Find something you're passionate about and keep tremendously interested in it."
-- Julia Child, chef
"The greatest conflicts are not between two people, but between one
person and himself."
-- Garth Brooks, singer
"We are made to persist. That's how we find out who we are."
-- Tobias Wolff, Writer
All "Betts" on Brian! The Only Realtor you want!
Monday, August 16, 2010
Last Week in the News
Last Week in the News
According to the ICSC-Goldman Sachs index, retail sales fell 0.2% for the week ending August 7. On a year-over-year basis, retailers saw sales increase 3.7%.
The Labor Department reported that in the second quarter productivity fell at an annual rate of 0.9%, labor costs rose at an annual rate of 0.2% and hours worked climbed at a 3.6% rate. This is a likely signal that employers have reached efficiency limits out of leaner staffs. In 2009, productivity rose 3.5%, the highest rate in six years.
Wholesalers increased their inventories 0.1% in June, following a 0.5% rise in May. Sales at the wholesale level fell 0.7% in June, the most since March 2009. Economists had anticipated inventories would increase 0.4% in June.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending August 6 increased 0.6%. Refinancing applications rose 0.6%. Purchase volume rose 0.3%.
The trade deficit increased 18.8% to $49.9 billion in June. It was the highest level since October 2008 and follows a $42 billion gap in May. Economists had expected the trade deficit to rise to $42.1 billion. Exports fell 1.3% to $150.5 billion. Imports increased 3% to $200.3 billion.
Initial claims for unemployment benefits rose by 2,000 to 484,000 for the week ending August 7. It was the highest level since mid February. Economist had projected claims would fall to 465,000. Continuing claims for the week ending July 31 fell by 118,000 to 4.45 million.
Upcoming on the economic calendar are reports on the housing market index on August 16, housing starts on August 17 and the index of leading economic indicators on August 19.
All "Betts" on Brian! The Only Realtor you want!
According to the ICSC-Goldman Sachs index, retail sales fell 0.2% for the week ending August 7. On a year-over-year basis, retailers saw sales increase 3.7%.
The Labor Department reported that in the second quarter productivity fell at an annual rate of 0.9%, labor costs rose at an annual rate of 0.2% and hours worked climbed at a 3.6% rate. This is a likely signal that employers have reached efficiency limits out of leaner staffs. In 2009, productivity rose 3.5%, the highest rate in six years.
Wholesalers increased their inventories 0.1% in June, following a 0.5% rise in May. Sales at the wholesale level fell 0.7% in June, the most since March 2009. Economists had anticipated inventories would increase 0.4% in June.
The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending August 6 increased 0.6%. Refinancing applications rose 0.6%. Purchase volume rose 0.3%.
The trade deficit increased 18.8% to $49.9 billion in June. It was the highest level since October 2008 and follows a $42 billion gap in May. Economists had expected the trade deficit to rise to $42.1 billion. Exports fell 1.3% to $150.5 billion. Imports increased 3% to $200.3 billion.
Initial claims for unemployment benefits rose by 2,000 to 484,000 for the week ending August 7. It was the highest level since mid February. Economist had projected claims would fall to 465,000. Continuing claims for the week ending July 31 fell by 118,000 to 4.45 million.
Upcoming on the economic calendar are reports on the housing market index on August 16, housing starts on August 17 and the index of leading economic indicators on August 19.
All "Betts" on Brian! The Only Realtor you want!
For the week of August 16, 2010
For the week of August 16, 2010
INFO THAT HITS US WHERE WE LIVE
Last Wednesday the National Association of Realtors reported the median price of existing single-family homes UP for Q2 in two thirds of U.S. metropolitan areas, or100 markets. This compares with only 26 markets with price gains in the same quarter a year ago. Experts say these figures show the federal tax credits helped stabilize home prices in the first half of the year. Nationally, the median price for single-family homes increased to $176,900 in Q2, UP 1.5% from a year ago.
The NAR also reported sales of existing single-family homes and condos for Q2 were UP 9.1% over Q1, hitting an annual rate of 5.61 million. That number is UP 17.3% from Q2 a year ago. With the tax credit gone, the NAR is forecasting a Q3 sales drop to a 4.55 million annual rate. But they do see sales coming back in the last three months of the year, to a 5.27 million unit annual rate. The NAR's chief economist added: "Prices in some areas remain below replacement construction costs, so even with an elevated supply of existing homes...we don't expect any consequential movement in home prices for the foreseeable future."
Freddie Mac's weekly survey showed mortgage rates staying at record low levels for conforming loans. But demand for purchase loans has dropped after the tax credit expiration, according to the Mortgage Bankers Association.
Review of Last Week
DIPPY... It was a week of "double-dip recession" fears, but when all was said and done, the economic recovery continued, albeit at a slower pace. The only dipping that occurred happened on Wall Street, as investors' worries sent the Dow Industrials down 265 points on Wednesday. By the time the markets closed Friday, all three major indexes had truly dipped -- from 3% to 5% for the week.
That Wednesday dip in the Dow was the delayed reaction to the results of the Fed meeting on Tuesday. The central bank kept the rate down at 0%–0.25%, but their policy statement raised investors' "double-dip" worries. The Fed said the economy isn't as strong as they thought it would be two months ago and they would begin buying Treasury bonds "to support the economic recovery." But in spite of Wall Street's jitters, the real economic data wasn't so bad.
Preliminary Q2 Productivity slipped a tad, but it's UP 3.9% over last year. The trade deficit in June grew more than expected, but exports dropped only slightly and are UP 17.7% for the year, a healthy sign for American companies. July Retail Sales were up less than expected, but when May and June upward revisions were included, the numbers beat expectations, UP 0.7% overall and UP 0.2% excluding autos. And those talking up a global double-dip recession were quieted when Germany's Q2 GDP showed a 2.2% expansion from the previous quarter, that country's fastest growth in two decades.
For the week, the Dow ended down 3.3%, to 10303.15; the S&P 500 was down 3.8%, to 1079.25; and the Nasdaq was off 5.0%, to 2173.48.
With investors seeking safety, the bond market benefited, with a big focus on Treasuries after the Fed's comments on Tuesday. The FNMA 30-year 4.0% bond we watch ended essentially flat for the week, down a scant 6 basis points, closing at $102.69. As noted above, national average mortgage rates remained in historically low territory for the eighth week in a row.
This Week’s Forecast
HOME BUILDING, MANUFACTURING, LEADING INDICATORS...This week we see how home builders feel, with Tuesday's Housing Starts and Building Permits. Starts are forecast to be up, though permits are expected to slide a little from last month. There are some important reads on manufacturing beginning with Monday's Empire State Index, Tuesday's Industrial Production and Capacity Utilization numbers, and Thursday's Philadelphia Fed Manufacturing Index. All are expected to be up, along with the Leading Economic Indicators (LEI) Index, out the same day. No double dipping here.
Key Q2 corporate earnings reports will come from Deere, Dell, Home Depot, Lowe's, Target, and Wal-Mart.
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 At last week's meeting, the Fed made no changes to its pledge to keep rates "exceptionally low" for an "extended period." Many economists now think the Fed Funds Rate will stay at its current super-low level well into next year. 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 Wednesday the National Association of Realtors reported the median price of existing single-family homes UP for Q2 in two thirds of U.S. metropolitan areas, or100 markets. This compares with only 26 markets with price gains in the same quarter a year ago. Experts say these figures show the federal tax credits helped stabilize home prices in the first half of the year. Nationally, the median price for single-family homes increased to $176,900 in Q2, UP 1.5% from a year ago.
The NAR also reported sales of existing single-family homes and condos for Q2 were UP 9.1% over Q1, hitting an annual rate of 5.61 million. That number is UP 17.3% from Q2 a year ago. With the tax credit gone, the NAR is forecasting a Q3 sales drop to a 4.55 million annual rate. But they do see sales coming back in the last three months of the year, to a 5.27 million unit annual rate. The NAR's chief economist added: "Prices in some areas remain below replacement construction costs, so even with an elevated supply of existing homes...we don't expect any consequential movement in home prices for the foreseeable future."
Freddie Mac's weekly survey showed mortgage rates staying at record low levels for conforming loans. But demand for purchase loans has dropped after the tax credit expiration, according to the Mortgage Bankers Association.
Review of Last Week
DIPPY... It was a week of "double-dip recession" fears, but when all was said and done, the economic recovery continued, albeit at a slower pace. The only dipping that occurred happened on Wall Street, as investors' worries sent the Dow Industrials down 265 points on Wednesday. By the time the markets closed Friday, all three major indexes had truly dipped -- from 3% to 5% for the week.
That Wednesday dip in the Dow was the delayed reaction to the results of the Fed meeting on Tuesday. The central bank kept the rate down at 0%–0.25%, but their policy statement raised investors' "double-dip" worries. The Fed said the economy isn't as strong as they thought it would be two months ago and they would begin buying Treasury bonds "to support the economic recovery." But in spite of Wall Street's jitters, the real economic data wasn't so bad.
Preliminary Q2 Productivity slipped a tad, but it's UP 3.9% over last year. The trade deficit in June grew more than expected, but exports dropped only slightly and are UP 17.7% for the year, a healthy sign for American companies. July Retail Sales were up less than expected, but when May and June upward revisions were included, the numbers beat expectations, UP 0.7% overall and UP 0.2% excluding autos. And those talking up a global double-dip recession were quieted when Germany's Q2 GDP showed a 2.2% expansion from the previous quarter, that country's fastest growth in two decades.
For the week, the Dow ended down 3.3%, to 10303.15; the S&P 500 was down 3.8%, to 1079.25; and the Nasdaq was off 5.0%, to 2173.48.
With investors seeking safety, the bond market benefited, with a big focus on Treasuries after the Fed's comments on Tuesday. The FNMA 30-year 4.0% bond we watch ended essentially flat for the week, down a scant 6 basis points, closing at $102.69. As noted above, national average mortgage rates remained in historically low territory for the eighth week in a row.
This Week’s Forecast
HOME BUILDING, MANUFACTURING, LEADING INDICATORS...This week we see how home builders feel, with Tuesday's Housing Starts and Building Permits. Starts are forecast to be up, though permits are expected to slide a little from last month. There are some important reads on manufacturing beginning with Monday's Empire State Index, Tuesday's Industrial Production and Capacity Utilization numbers, and Thursday's Philadelphia Fed Manufacturing Index. All are expected to be up, along with the Leading Economic Indicators (LEI) Index, out the same day. No double dipping here.
Key Q2 corporate earnings reports will come from Deere, Dell, Home Depot, Lowe's, Target, and Wal-Mart.
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 At last week's meeting, the Fed made no changes to its pledge to keep rates "exceptionally low" for an "extended period." Many economists now think the Fed Funds Rate will stay at its current super-low level well into next year. 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!
Daily Quotes!
Daily Quotes Aug. 16 2010!
"We must have perseverance and above all confidence in ourselves. We
must believe that we are gifted for something and that this thing must
be attained."
-- Marie Curie, physicist
"The highest form of success... comes... to the man who does not shrink
from danger, from hardship or from bitter toil, and who out of these
wins the splendid ultimate triumph."
-- Theodore Roosevelt, 26th U.S. president
"Determine that the thing can and shall be done, and then we shall find the way."
-- Abraham Lincoln, 16th U.S. President
"Strategic advantage lies in the leverage of knowledge."
-- Robert Buckman, leadership coach
"Nothing great will ever be achieved without great men, and men are
great only if they are determined to be so."
-- Charles de Gaulle, statesman
"Who has not served cannot command."
-- John Florio
"Never give up, for that is just the place and time that the tide will turn."
-- Harriet Beecher Stowe, Writer
All "Betts' on Brian! The Only Realtor you want!
"We must have perseverance and above all confidence in ourselves. We
must believe that we are gifted for something and that this thing must
be attained."
-- Marie Curie, physicist
"The highest form of success... comes... to the man who does not shrink
from danger, from hardship or from bitter toil, and who out of these
wins the splendid ultimate triumph."
-- Theodore Roosevelt, 26th U.S. president
"Determine that the thing can and shall be done, and then we shall find the way."
-- Abraham Lincoln, 16th U.S. President
"Strategic advantage lies in the leverage of knowledge."
-- Robert Buckman, leadership coach
"Nothing great will ever be achieved without great men, and men are
great only if they are determined to be so."
-- Charles de Gaulle, statesman
"Who has not served cannot command."
-- John Florio
"Never give up, for that is just the place and time that the tide will turn."
-- Harriet Beecher Stowe, Writer
All "Betts' on Brian! The Only Realtor you want!
Subscribe to:
Posts (Atom)
