"Self-respect is the fruit of discipline; and the sense of dignity grows with the ability to say not to oneself."
Abraham Joshua Heschel, Leading Jewish theologian of the 20th century
"Worry often gives a small thing a great shadow."
Swedish Proverb
"If you would hit the mark, you must aim a little above it; every arrow that files feels the attraction of earth."
Henry Wadsworth Longfellow, author
"Ideas are a dime a dozen. People who implement them are priceless."
Mary Kay Ash, Entrepreneur
"Courage is not limited to the battlefield. The real tests of courage are much quieter. They are the inner tests, like enduring pain when the room is empty or standing alone when you're misunderstood."
Charles Swindoll
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Wednesday, November 16, 2011
Monday, November 14, 2011
Daily Quotes November 14, 2011!
"You can't build a reputation on what you're going to do."
Henry Ford, Founder of the Ford Motor Company
"Vision without action is a daydream. Action without vision is a nightmare.
Japanese Proverb
"The ability to simplify means to eliminate the unnecessary so that the necessary may speak."
Hans Hoffmann
"Knowing is not enough; we must apply. Wishing is not enough; we must do."
Johann Wolfgang Von Goethe, Author
"Envisioning the end is enough to put the means in motion."
Dorothea Brande, Writer
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Henry Ford, Founder of the Ford Motor Company
"Vision without action is a daydream. Action without vision is a nightmare.
Japanese Proverb
"The ability to simplify means to eliminate the unnecessary so that the necessary may speak."
Hans Hoffmann
"Knowing is not enough; we must apply. Wishing is not enough; we must do."
Johann Wolfgang Von Goethe, Author
"Envisioning the end is enough to put the means in motion."
Dorothea Brande, Writer
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Tuesday, November 8, 2011
Daily Quotes November 8, 2011!
"As I grow older, I pay less attention to what men say. I just watch what they do."
Andrew Carnegie, Industrialist
"Do the thing you fear, and the death of fear is certain."
Ralph Waldo Emerson, Poet
"Just as iron rusts from disuse, even so does inaction spoil the intellect."
Leonardo da Vinci, Artist
"Faith is taking the first step even when you don't see the staircase."
Martin Luther King, Jr., civil rights leader
"The miracle is this - the more we share, the more we have."
Leonard Nimoy, Actor
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Andrew Carnegie, Industrialist
"Do the thing you fear, and the death of fear is certain."
Ralph Waldo Emerson, Poet
"Just as iron rusts from disuse, even so does inaction spoil the intellect."
Leonardo da Vinci, Artist
"Faith is taking the first step even when you don't see the staircase."
Martin Luther King, Jr., civil rights leader
"The miracle is this - the more we share, the more we have."
Leonard Nimoy, Actor
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Monday, November 7, 2011
Daily Quotes November 7, 2011!
"A journey of a thousand miles begins with a single step."
Chinese Proverb
"Life begins when you do."
Hugh Downs, American Broadcaster
"You'll always miss 100% of the shots you don't take."
Wayne Gretzky, Hockey Player
"The key is not to prioritize what is on the schedule, but to schedule your priorities."
Stephen Covey, Author and Speaker
"Luck is what happens when preparation meets opportunity."
Darrell Royal
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Chinese Proverb
"Life begins when you do."
Hugh Downs, American Broadcaster
"You'll always miss 100% of the shots you don't take."
Wayne Gretzky, Hockey Player
"The key is not to prioritize what is on the schedule, but to schedule your priorities."
Stephen Covey, Author and Speaker
"Luck is what happens when preparation meets opportunity."
Darrell Royal
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Friday, November 4, 2011
Daily Quotes November 4, 2011!
"If you want to achieve a high goal, you're going to have to take some chances."
Alberto Salazar, American Marathon Runner
"I am a great believer in luck, and I find that the harder I work, the more I have of it."
Thomas Jefferson, 3rd President of the United States of America
"We all die. The goal isn't to live forever, the goal is to create something that will."
Chuck Palahniuk, Author
"Great minds have purpose, others have wishes."
Washington Irving, American Author
"Asking questions will get you the performance you are after far better than dictating demands."
Dan James
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Alberto Salazar, American Marathon Runner
"I am a great believer in luck, and I find that the harder I work, the more I have of it."
Thomas Jefferson, 3rd President of the United States of America
"We all die. The goal isn't to live forever, the goal is to create something that will."
Chuck Palahniuk, Author
"Great minds have purpose, others have wishes."
Washington Irving, American Author
"Asking questions will get you the performance you are after far better than dictating demands."
Dan James
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Tuesday, November 1, 2011
Daily Quotes November 1, 2011!
"In a moment of decision the best thing you can do is the right thing. The worst thing you can do is nothing."
Theodore Roosevelt, 26th President of the United States
"Chance favors those in motion."
James H. Austin, Professor of Neurology and Author
"Man was created as a being who should constantly keep improving, a being who on reaching one goal sets a higher one."
Ralph Ransom
"The most important thing in communication is to hear what isn't being said."
Peter F. Drucker, Author and Management Expert
"Learning is a treasure that will follow its owner everywhere."
Proverb
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Theodore Roosevelt, 26th President of the United States
"Chance favors those in motion."
James H. Austin, Professor of Neurology and Author
"Man was created as a being who should constantly keep improving, a being who on reaching one goal sets a higher one."
Ralph Ransom
"The most important thing in communication is to hear what isn't being said."
Peter F. Drucker, Author and Management Expert
"Learning is a treasure that will follow its owner everywhere."
Proverb
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Monday, October 31, 2011
Daily Quotes October 31, 2011!
"When nothing seems to help, I go and look at a stone-cutter hammering away at his rock perhaps a hundred times without as much as a crack showing in it. Yet at the hundred and first blow it will split in two, and I know it was not that blow that did it - but all that had gone before."
Jacob Riis, Photographer and Journalist
"Very often a change of self is needed more than a change of scene."
Arthur Christopher Benson, British Authorhttp://www.blogger.com/img/blank.gif
"Nothing in life is more important than the ability to communicate effectively."
Gerald R. Ford, 38th President of the United States and Mason
"Until we can manage time, we can manage nothing else."
Peter F. Drucker, Author and Management Expert
"Samson killed a thousand men with the jaw bone of an ass. That many sales are killed every day with the same weapon."
Anonymous
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Jacob Riis, Photographer and Journalist
"Very often a change of self is needed more than a change of scene."
Arthur Christopher Benson, British Authorhttp://www.blogger.com/img/blank.gif
"Nothing in life is more important than the ability to communicate effectively."
Gerald R. Ford, 38th President of the United States and Mason
"Until we can manage time, we can manage nothing else."
Peter F. Drucker, Author and Management Expert
"Samson killed a thousand men with the jaw bone of an ass. That many sales are killed every day with the same weapon."
Anonymous
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Friday, October 28, 2011
Daily Quotes October 28, 2011!
"As you simplify your life, the laws of the universe will be simpler; solitude will not be solitude, poverty will not be poverty, nor weakness weakness."
Henry David Thoreau, Author, Philosopher
"Pretend that every single person you meet has a sign around his or her neck that says, "Make me feel important." Not only will you succeed in sales, you will succeed in life." http://www.blogger.com/img/blank.gif
Mary Kay Ash, Entrepreneur
"The bad news is time flies. The good news is you're the pilot."
Michael Altshuler
"Purpose and laughter are the twins that must not separate. Each is empty without the other."
Robert K. Greenleaf
"Life is 10 percent what you make it, and 90 percent how you take it. "
Irving Berlin, American Composer and Lyricist
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Henry David Thoreau, Author, Philosopher
"Pretend that every single person you meet has a sign around his or her neck that says, "Make me feel important." Not only will you succeed in sales, you will succeed in life." http://www.blogger.com/img/blank.gif
Mary Kay Ash, Entrepreneur
"The bad news is time flies. The good news is you're the pilot."
Michael Altshuler
"Purpose and laughter are the twins that must not separate. Each is empty without the other."
Robert K. Greenleaf
"Life is 10 percent what you make it, and 90 percent how you take it. "
Irving Berlin, American Composer and Lyricist
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History of the Jack-O’-Lantern
History of the Jack-O’-Lantern
Halloween is partially based on an ancient Celtic holiday known as Samhain (“s-ow-wun”) which roughly translates to “summer’s end.” The Celts considered it the most m>agical night of the year, referring to it as the Last Harvest.
On this night, jack-o’-lanterns carved from turnips or gourds were filled with burning lumps of coal and placed on porches to welcome deceased loved ones and to ward off spirits. When Irish settlers arrived in America they found the pumpkin to be easier to carve, and since the late 1800s Halloween has been celebrated with jack-o’-lanterns carved from the native American pumpkin.
HAPPY HALLOWEEN!!!
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Halloween is partially based on an ancient Celtic holiday known as Samhain (“s-ow-wun”) which roughly translates to “summer’s end.” The Celts considered it the most m>agical night of the year, referring to it as the Last Harvest.
On this night, jack-o’-lanterns carved from turnips or gourds were filled with burning lumps of coal and placed on porches to welcome deceased loved ones and to ward off spirits. When Irish settlers arrived in America they found the pumpkin to be easier to carve, and since the late 1800s Halloween has been celebrated with jack-o’-lanterns carved from the native American pumpkin.
HAPPY HALLOWEEN!!!
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Thursday, October 27, 2011
Daily Quotes October 27, 2011!
"If you can give your son or daughter only one gift, let it be enthusiasm."
Bruce Barton, Executive
"Confidence and enthusiasm are the greatest sales producers in any kind of economy."
O. B. Smith
"Either write something worth reading or do something worth writing."
Benjamin Franklin, Inventor, Statesman, Mason
"Thought is the original source of all wealth, all success, all material gain, all great discoveries and inventions, and of all achievement."
Claude M. Bristol, Author
"People die of fright and live of confidence."
-- Henry David Thoreau, Author, Philosopher
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Bruce Barton, Executive
"Confidence and enthusiasm are the greatest sales producers in any kind of economy."
O. B. Smith
"Either write something worth reading or do something worth writing."
Benjamin Franklin, Inventor, Statesman, Mason
"Thought is the original source of all wealth, all success, all material gain, all great discoveries and inventions, and of all achievement."
Claude M. Bristol, Author
"People die of fright and live of confidence."
-- Henry David Thoreau, Author, Philosopher
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Wednesday, October 26, 2011
Daily Quotes October 26, 2011!
"You make the world a better place by making yourself a better person."
Scott Sorrell
"The greater the obstacle, the more glory in overcoming it."
Moliere, Playwright
"Don't bother just to be better than your contemporaries or predecessors. Try to be better than yourself."
William Faulkner, Author
"Whenever you do a thing, act as if all the world were watching."
Thomas Jefferson, Third U.S. President
"The great use of life is to spend it doing something that will outlast it."
William James, Psychologist
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Scott Sorrell
"The greater the obstacle, the more glory in overcoming it."
Moliere, Playwright
"Don't bother just to be better than your contemporaries or predecessors. Try to be better than yourself."
William Faulkner, Author
"Whenever you do a thing, act as if all the world were watching."
Thomas Jefferson, Third U.S. President
"The great use of life is to spend it doing something that will outlast it."
William James, Psychologist
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Tuesday, October 25, 2011
Daily Quotes October 25, 2011!
"In the absence of clearly-defined goals, we become strangely loyal to performing daily trivia until ultimately we become enslaved by it."
Robert Heinlein, American Novelist
"You miss 100% of the shots you never take."
Wayne Gretzky, Hockey Great
"A man does what he must; in spite of personal consequences, in spite of obstacles and dangers and pressures."
John Kennedy, 35th U.S. President
"It is not the employer who pays wages; he only handles the money. It is the product that pays wages."
Henry Ford, Industrialist
"We must take change by the hand or rest assuredly, change will take us by the throat."
Winston Churchill, Former British prime minister
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Robert Heinlein, American Novelist
"You miss 100% of the shots you never take."
Wayne Gretzky, Hockey Great
"A man does what he must; in spite of personal consequences, in spite of obstacles and dangers and pressures."
John Kennedy, 35th U.S. President
"It is not the employer who pays wages; he only handles the money. It is the product that pays wages."
Henry Ford, Industrialist
"We must take change by the hand or rest assuredly, change will take us by the throat."
Winston Churchill, Former British prime minister
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Monday, October 24, 2011
Daily Quotes October 24, 2011!
"Difficulties in life are intended to make us better not bitter."
Dan Reeves, Football Coach
"Tomorrow is the most important thing in life. Comes in to us at midnight very clean. It's perfect when it arrives and it puts itself in our hands, and hopes we've learned something from yesterday."
John Wayne, Actor
"Fortune favors the audacious."
Desiderius Erasmus, Theologian
http://www.blogger.com/img/blank.gif
"We must all suffer from one of two pains: the pain of discipline or the pain of regret. The difference is discipline weighs ounces while regret weighs tons."
Jim Rohn, Motivational Coach
"In the absence of clearly-defined goals, we become strangely loyal to
performing daily trivia until ultimately we become enslaved by it."
Robert Heinlein, American Novelist
"In the absence of clearly-defined goals, we become strangely loyal to performing daily trivia until ultimately we become enslaved by it."
Robert Heinlein, American Novelist
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Dan Reeves, Football Coach
"Tomorrow is the most important thing in life. Comes in to us at midnight very clean. It's perfect when it arrives and it puts itself in our hands, and hopes we've learned something from yesterday."
John Wayne, Actor
"Fortune favors the audacious."
Desiderius Erasmus, Theologian
http://www.blogger.com/img/blank.gif
"We must all suffer from one of two pains: the pain of discipline or the pain of regret. The difference is discipline weighs ounces while regret weighs tons."
Jim Rohn, Motivational Coach
"In the absence of clearly-defined goals, we become strangely loyal to
performing daily trivia until ultimately we become enslaved by it."
Robert Heinlein, American Novelist
"In the absence of clearly-defined goals, we become strangely loyal to performing daily trivia until ultimately we become enslaved by it."
Robert Heinlein, American Novelist
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Monday, April 25, 2011
Daily Quotes April 25, 2011!
Daily Quotes April 25, 2011!
"If we had to point out one single notion that is calculated to damage
industrial performance... it is the idea that profit is somehow wrong. "
-- Margaret Thatcher
"Hope doesn't come from calculating whether the good news is winning out
over the bad. It's simply a choice to take action."
-- Anna Lappe, Writer
"Character cannot be developed in ease and quiet. Only through
experience of trial and suffering can the soul be strengthened, ambition
inspired and success achieved."
-- Helen Keller, lecturer
"The world is more malleable than you think, and it's waiting for you to
hammer it into shape. "
-- Bono, musician
"Great hopes make everything great possible."
-- Benjamin Franklin, Statesman
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"If we had to point out one single notion that is calculated to damage
industrial performance... it is the idea that profit is somehow wrong. "
-- Margaret Thatcher
"Hope doesn't come from calculating whether the good news is winning out
over the bad. It's simply a choice to take action."
-- Anna Lappe, Writer
"Character cannot be developed in ease and quiet. Only through
experience of trial and suffering can the soul be strengthened, ambition
inspired and success achieved."
-- Helen Keller, lecturer
"The world is more malleable than you think, and it's waiting for you to
hammer it into shape. "
-- Bono, musician
"Great hopes make everything great possible."
-- Benjamin Franklin, Statesman
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Wednesday, April 20, 2011
Daily Quotes April 20, 2011!
Daily Quotes April 20, 2011!
"You do not succeed because you do not know what you want or you don't
want it intensely enough."
-- Frank Crane, Minister
"Character is the ability to carry out a good resolution long after the
excitement of the moment has passed."
-- Cavett Robert
"We must look for the opportunity in every difficulty instead of being
paralyzed at the thought of the difficulty in every opportunity."
-- Walter E. Cole, Korean War Hero
"The true measure of a career is to be able to be content, even proud,
that you succeeded through your own endeavors without leaving a trail of
casualties in your wake."
-- Alan Greenspan, economist
"Any fool can make things bigger, more complex and more violent. It
takes a touch of genius - and a lot of courage - to move in the opposite
direction."
-- Albert Einstein, scientist
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"You do not succeed because you do not know what you want or you don't
want it intensely enough."
-- Frank Crane, Minister
"Character is the ability to carry out a good resolution long after the
excitement of the moment has passed."
-- Cavett Robert
"We must look for the opportunity in every difficulty instead of being
paralyzed at the thought of the difficulty in every opportunity."
-- Walter E. Cole, Korean War Hero
"The true measure of a career is to be able to be content, even proud,
that you succeeded through your own endeavors without leaving a trail of
casualties in your wake."
-- Alan Greenspan, economist
"Any fool can make things bigger, more complex and more violent. It
takes a touch of genius - and a lot of courage - to move in the opposite
direction."
-- Albert Einstein, scientist
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Friday, April 15, 2011
Daily Quotes April 15, 2011!
Daily Quotes April 15, 2011!
"A man watches his pear tree, day after day, impatient for the ripening of the fruit. Let him attempt to force the process, and he may spoil both the fruit and tree. But let him patiently wait, and the ripe pear, at length, falls into his lap."
-- Abraham Lincoln, 16th President of the United States
"My father taught me that reputation, not money, was the most important thing in the world."
-- William Rosenberg, Dunkin Donuts founder
"I really do think that any deep crisis is an opportunity to make your life extraordinary in some way."
-- Martha Beck, Author
"When you find yourself stressed, ask yourself one question: Will this matter five years from now? If yes, then do something about the situation. If no, then let it go."
-- Catherine Pulsifer, writer
"Luck is the sense to recognize an opportunity and the ability to take advantage of it."
-- Samuel Goldwyn, entertainment executive
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"A man watches his pear tree, day after day, impatient for the ripening of the fruit. Let him attempt to force the process, and he may spoil both the fruit and tree. But let him patiently wait, and the ripe pear, at length, falls into his lap."
-- Abraham Lincoln, 16th President of the United States
"My father taught me that reputation, not money, was the most important thing in the world."
-- William Rosenberg, Dunkin Donuts founder
"I really do think that any deep crisis is an opportunity to make your life extraordinary in some way."
-- Martha Beck, Author
"When you find yourself stressed, ask yourself one question: Will this matter five years from now? If yes, then do something about the situation. If no, then let it go."
-- Catherine Pulsifer, writer
"Luck is the sense to recognize an opportunity and the ability to take advantage of it."
-- Samuel Goldwyn, entertainment executive
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Monday, April 11, 2011
Daily Quotes April 11, 2011!
Daily Quotes April 11, 2011!
"If I had to select one quality, one personal characteristic that I regard as being most highly correlated with success, whatever the field, I would pick the trait of persistence."
-- Richard DeVos, Amway Co-founder
"As for worrying about what other people might think - forget it. They aren't concerned about you. They're too busy worrying about what you and other people think of them."
-- Michael le Boeuf
"Mickey Mouse popped out of my mind onto a drawing pad... when the business fortunes of my brother Roy and myself were at their lowest ebb and disaster seemed right around the corner."
-- Walt Disney, producer
"You can't do it unless you can imagine it."
-- George Lucas, director
"A successful man is one who can lay a firm foundation with the bricks other have thrown at him."
-- David Brinkley, newscaster
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"If I had to select one quality, one personal characteristic that I regard as being most highly correlated with success, whatever the field, I would pick the trait of persistence."
-- Richard DeVos, Amway Co-founder
"As for worrying about what other people might think - forget it. They aren't concerned about you. They're too busy worrying about what you and other people think of them."
-- Michael le Boeuf
"Mickey Mouse popped out of my mind onto a drawing pad... when the business fortunes of my brother Roy and myself were at their lowest ebb and disaster seemed right around the corner."
-- Walt Disney, producer
"You can't do it unless you can imagine it."
-- George Lucas, director
"A successful man is one who can lay a firm foundation with the bricks other have thrown at him."
-- David Brinkley, newscaster
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Monday, April 4, 2011
Daily Quotes April 4, 2011!
Daily Quotes April 4, 2011!
"Adventure is a state of mind - and spirit. It comes with faith, for with complete faith, there is no fear of what faces you in life or death."
-- Jacqueline Cochran, aviator
"My interest is in the future because I am going to spend the rest of my life there."
-- Charles Kettering, Social Philosopher
"It is literally true that you can succeed best and quickest by helping others to succeed."
-- Napolean Hill, author
"Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young. The greatest thing in life is to keep your mind young."
-- Henry Ford, Industrialist
"The road to happiness lies in two simple principles: find what it is that interests you and that you can do well, and when you find it put your whole soul into it - every bit of energy and ambition and natural ability you have."
-- John D. Rockefeller, industrialist
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"Adventure is a state of mind - and spirit. It comes with faith, for with complete faith, there is no fear of what faces you in life or death."
-- Jacqueline Cochran, aviator
"My interest is in the future because I am going to spend the rest of my life there."
-- Charles Kettering, Social Philosopher
"It is literally true that you can succeed best and quickest by helping others to succeed."
-- Napolean Hill, author
"Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young. The greatest thing in life is to keep your mind young."
-- Henry Ford, Industrialist
"The road to happiness lies in two simple principles: find what it is that interests you and that you can do well, and when you find it put your whole soul into it - every bit of energy and ambition and natural ability you have."
-- John D. Rockefeller, industrialist
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Wednesday, March 30, 2011
Daily Quotes March 30, 2011!
Daily Quotes March 30, 2011!
"There comes a special moment in everyone's life; a moment for which
that person was born. That special opportunity, when he seizes it, will
fulfill his mission-a mission for which he is uniquely qualified. In
that moment, he finds greatness. It is his finest hour."
-- Winston Churchill, British prime minister
"When you get into a tight place and everything goes against you till it
seems you could not hold on a minute longer, never give up then, for
that is just the place and time that the tide will turn."
-- Harriet Beecher Stowe, author
"I have always found that if I move with 75% or more of the facts, I
usually never regret it. It's the guys who wait to have everything
perfect that drive you crazy."
-- Lee Iacocca, executive
"All who have accomplished great things have had a great aim and have
fixed their gaze on a goal that is high--one that sometimes seems
impossible."
-- Orison Swett Marden, Motivational Writer
"The rung of a ladder was never meant to rest upon, but only to hold a
man's foot long enough to enable him to put the other somewhat higher."
-- Thomas Huxley, Biologist
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"There comes a special moment in everyone's life; a moment for which
that person was born. That special opportunity, when he seizes it, will
fulfill his mission-a mission for which he is uniquely qualified. In
that moment, he finds greatness. It is his finest hour."
-- Winston Churchill, British prime minister
"When you get into a tight place and everything goes against you till it
seems you could not hold on a minute longer, never give up then, for
that is just the place and time that the tide will turn."
-- Harriet Beecher Stowe, author
"I have always found that if I move with 75% or more of the facts, I
usually never regret it. It's the guys who wait to have everything
perfect that drive you crazy."
-- Lee Iacocca, executive
"All who have accomplished great things have had a great aim and have
fixed their gaze on a goal that is high--one that sometimes seems
impossible."
-- Orison Swett Marden, Motivational Writer
"The rung of a ladder was never meant to rest upon, but only to hold a
man's foot long enough to enable him to put the other somewhat higher."
-- Thomas Huxley, Biologist
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Monday, March 28, 2011
Daily Quotes March 28, 2011!
Daily Quotes March 28, 2011!
"I base my calculation on the expectation that luck will be against me."
-- Napolean Bonaparte, French emperor
"If I had to select one quality, one personal characteristic that I
regard as being most highly correlated with success, whatever the field,
I would pick the trait of persistence."
-- Richard DeVos, Amway Co-founder
"Success is getting what you want; happiness is wanting what you get."
-- Dave Gardner, comedian
"There are three hungers that people are trying to feed throughout their
lives. The first is to connect deeply with the creative spirit of life.
The second is to know and express your gifts and talents. The third is
to know that our lives matter. Fulfillment comes from feeding these
three hungers."
-- Richard Leider, executive
"Any supervisor worth his salt would rather deal with people who attempt
too much than with those who try too little."
-- Lee Iacocca, executive
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"I base my calculation on the expectation that luck will be against me."
-- Napolean Bonaparte, French emperor
"If I had to select one quality, one personal characteristic that I
regard as being most highly correlated with success, whatever the field,
I would pick the trait of persistence."
-- Richard DeVos, Amway Co-founder
"Success is getting what you want; happiness is wanting what you get."
-- Dave Gardner, comedian
"There are three hungers that people are trying to feed throughout their
lives. The first is to connect deeply with the creative spirit of life.
The second is to know and express your gifts and talents. The third is
to know that our lives matter. Fulfillment comes from feeding these
three hungers."
-- Richard Leider, executive
"Any supervisor worth his salt would rather deal with people who attempt
too much than with those who try too little."
-- Lee Iacocca, executive
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Monday, March 21, 2011
Daily Quotes March 21, 2011!
Daily Quotes March 21, 2011!
"Learn to see in another's calamity the ills that you should avoid."
-- Thomas Jefferson, third U.S. president
"Without the element of uncertainty, the bringing off of even the
greatest business triumph would be dull, routine and eminently
unsatisfying."
-- J. Paul Getty, industrialist
"When you innovate, you've got to be prepared for everyone telling you
you're nuts."
-- Larry Ellison, entrepreneur
"The man who gets the most satisfactory results is not always the man
with the most brilliant single mind, but rather the man who can best
coordinate the brains and talents of his associates."
-- Alton Jones, industrialist
All "Betts" on Brian! The Only Realtor you Want!
"Learn to see in another's calamity the ills that you should avoid."
-- Thomas Jefferson, third U.S. president
"Without the element of uncertainty, the bringing off of even the
greatest business triumph would be dull, routine and eminently
unsatisfying."
-- J. Paul Getty, industrialist
"When you innovate, you've got to be prepared for everyone telling you
you're nuts."
-- Larry Ellison, entrepreneur
"The man who gets the most satisfactory results is not always the man
with the most brilliant single mind, but rather the man who can best
coordinate the brains and talents of his associates."
-- Alton Jones, industrialist
All "Betts" on Brian! The Only Realtor you Want!
Thursday, March 17, 2011
Daily Quotes March 17, 2011!
Daily Quotes March 17, 2011!
"I contend that not only can you laugh at adversity, but it is essential
to do so if you are to deal with setbacks without defeat."
-- Allen Klein, businessman
"It's better to be boldly decisive and risk being wrong than to agonize
at length and be right too late."
-- Marilyn Kennedy, leadership coach
"The greatest test of courage is to bear defeat without losing heart."
-- Robert Ingersoll, orator
"Education comes from within; you get it by struggle and effort and thought."
-- Napolean Hill, author
"No one's happiness but my own is in my power to achieve or to destroy."
-- Ayn Rand, writer
All "Betts" on Brian! The Only Realtor You Want!
"I contend that not only can you laugh at adversity, but it is essential
to do so if you are to deal with setbacks without defeat."
-- Allen Klein, businessman
"It's better to be boldly decisive and risk being wrong than to agonize
at length and be right too late."
-- Marilyn Kennedy, leadership coach
"The greatest test of courage is to bear defeat without losing heart."
-- Robert Ingersoll, orator
"Education comes from within; you get it by struggle and effort and thought."
-- Napolean Hill, author
"No one's happiness but my own is in my power to achieve or to destroy."
-- Ayn Rand, writer
All "Betts" on Brian! The Only Realtor You Want!
Wednesday, March 9, 2011
Daily Quotes March 9, 2011!
Daily Quotes March 9, 2011!
"Difficulties are things that show a man's nature."
-- Epictetus, philosopher
"You can't do it unless you can imagine it."
-- George Lucas, director
"Hope is a vigorous principle; it sets the head and heart to work, and
animates a man to do his utmost. It makes a seeming impossibility give
way."
-- Jeremy Collier, critic
"No one can make you feel inferior without your consent."
-- Eleanor Roosevelt
"One might think that the money value of an invention constitutes its
reward to the man who loves his work. But speaking for myself, I can
honestly say this isn't so... I continue to find my greatest pleasure,
and so my reward, in the work that precedes what the world calls
success."
-- Thomas Edison, inventor
All "Betts" on Brian! The Only Realtor you Want!
"Difficulties are things that show a man's nature."
-- Epictetus, philosopher
"You can't do it unless you can imagine it."
-- George Lucas, director
"Hope is a vigorous principle; it sets the head and heart to work, and
animates a man to do his utmost. It makes a seeming impossibility give
way."
-- Jeremy Collier, critic
"No one can make you feel inferior without your consent."
-- Eleanor Roosevelt
"One might think that the money value of an invention constitutes its
reward to the man who loves his work. But speaking for myself, I can
honestly say this isn't so... I continue to find my greatest pleasure,
and so my reward, in the work that precedes what the world calls
success."
-- Thomas Edison, inventor
All "Betts" on Brian! The Only Realtor you Want!
Friday, March 4, 2011
For the week of February 28, 2011
For the week of February 28, 2011
INFO THAT HITS US WHERE WE LIVE
Market Update
Things do keep changing, but we all hope that by and large those changes mean progress. We certainly saw evidence of that in the housing market last week, as Existing Home Sales headed up in January for the third month in a row. They've now reached a 5.36 million annual rate, close to the long-term trend of 5.5 million and up over 5% from a year ago. This, as Martha Stewart says, is "a good thing," since the supply of existing homes has now dropped to 7.6 months, close to the 6-month ideal, which favors neither buyers nor sellers.
The Case-Shiller home price index for the 20 largest metros was down in December, its sixth straight monthly decline since the tax credit ended. The media seemed thrilled to announce a "double dip" in housing prices, probably because they've been unable to use their "double dip" catch phrase for anything else. The facts, as usual, tell another story. Case-Shiller was down just 2.4% for the year, its smallest drop since the 2006 price peak. And some observers anticipate modest price gains this year. New Home Sales did fall 12.6% in January, which may have been due to the bad weather, though sales were up in the Northeast and Midwest and down in the West and South. Go figure. Inventories are now at their lowest level since 1967.
BUSINESS TIP OF THE WEEK...Targeting is a powerful business strategy. Don't try to be all things to all people. Pick a niche. The secret to broadening your appeal often lies in narrowing your focus.
Review of Last Week
BULLS TAKE A BREATHER...Everyone on Wall Street had Presidents Day off Monday but the bulls never really showed up for work the rest of the week either. Well, bulls did stage a bit of a comeback on Friday, but it wasn't enough to bring stock prices up to where they were the week before. So after three weeks of charging higher, the markets fell off, as all three major indexes went south for the week.
The Middle East continues to trouble investors, with Libya the latest focal point for that region's violent uprisings. There was a sympathetic jump in oil prices, never a good development for our economy, and the week ended with the second estimate for Q4 GDP revised DOWN to a 2.8% growth rate from the original 3.2%. Weighing in against these negatives, the latest Consumer Confidence Report showed people's attitudes about the economy are actually growing more upbeat. The Richmond Fed index showed robust manufacturing growth in the important mid-Atlantic region. And initial jobless claims went below 400,000 for the week, while continuing claims remain under 4 million.
For the week, the Dow ended down 2.1%, at 12,130; the S&P 500 was down 1.7%, to 1,320; and the Nasdaq was off 1.9%, ending at 2,781 .
Bond prices benefited from both increased tensions in the Middle East and the drop in GDP. The flight to safety helped the FNMA 4.0% bond we watch end decidedly up for the week, closing at $98.17. Mortgage rates eased a tad lower again. Freddie Mac's weekly survey of conforming mortgages showed national average fixed-rate mortgage rates staying down near historic lows.
DID YOU KNOW?...Mortgage interest rates are based on Mortgage Backed Securities (MBS), also called mortgage bonds. When bond prices go up, mortgage rates go down, but when bonds drop, rates rise.
This Week’s Forecast
STEADY AS SHE GOES...This week there's a wide range of economic news, but it's all expected to be a bit bland. Core PCE Prices, the Fed's favorite inflation measure, should drift up a little, but stay well within the target range. The ISM and Chicago PMI indexes are forecast to show manufacturing growing, though at no faster a rate. Pending Home Sales, a measure of signed contracts for closings a few months out, should be down a bit in December after being up a bit the previous month. Q4 Productivity is expected to hold steady.
The big news of course will be the February Employment Report come Friday. But again, steady progress is predicted, not the dramatic boost in jobs we need. With 180,000 new jobs forecast, the unemployment rate will actually inch up because of workforce expansion.
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...There are more rumblings about inflation, which could send the Fed Funds Rate heading north, but not while the jobs recovery is proceeding at such a snail's pace. For the first half of the year, economists think there is virtually zero likelihood of a rate hike from the Fed. 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
Market Update
Things do keep changing, but we all hope that by and large those changes mean progress. We certainly saw evidence of that in the housing market last week, as Existing Home Sales headed up in January for the third month in a row. They've now reached a 5.36 million annual rate, close to the long-term trend of 5.5 million and up over 5% from a year ago. This, as Martha Stewart says, is "a good thing," since the supply of existing homes has now dropped to 7.6 months, close to the 6-month ideal, which favors neither buyers nor sellers.
The Case-Shiller home price index for the 20 largest metros was down in December, its sixth straight monthly decline since the tax credit ended. The media seemed thrilled to announce a "double dip" in housing prices, probably because they've been unable to use their "double dip" catch phrase for anything else. The facts, as usual, tell another story. Case-Shiller was down just 2.4% for the year, its smallest drop since the 2006 price peak. And some observers anticipate modest price gains this year. New Home Sales did fall 12.6% in January, which may have been due to the bad weather, though sales were up in the Northeast and Midwest and down in the West and South. Go figure. Inventories are now at their lowest level since 1967.
BUSINESS TIP OF THE WEEK...Targeting is a powerful business strategy. Don't try to be all things to all people. Pick a niche. The secret to broadening your appeal often lies in narrowing your focus.
Review of Last Week
BULLS TAKE A BREATHER...Everyone on Wall Street had Presidents Day off Monday but the bulls never really showed up for work the rest of the week either. Well, bulls did stage a bit of a comeback on Friday, but it wasn't enough to bring stock prices up to where they were the week before. So after three weeks of charging higher, the markets fell off, as all three major indexes went south for the week.
The Middle East continues to trouble investors, with Libya the latest focal point for that region's violent uprisings. There was a sympathetic jump in oil prices, never a good development for our economy, and the week ended with the second estimate for Q4 GDP revised DOWN to a 2.8% growth rate from the original 3.2%. Weighing in against these negatives, the latest Consumer Confidence Report showed people's attitudes about the economy are actually growing more upbeat. The Richmond Fed index showed robust manufacturing growth in the important mid-Atlantic region. And initial jobless claims went below 400,000 for the week, while continuing claims remain under 4 million.
For the week, the Dow ended down 2.1%, at 12,130; the S&P 500 was down 1.7%, to 1,320; and the Nasdaq was off 1.9%, ending at 2,781 .
Bond prices benefited from both increased tensions in the Middle East and the drop in GDP. The flight to safety helped the FNMA 4.0% bond we watch end decidedly up for the week, closing at $98.17. Mortgage rates eased a tad lower again. Freddie Mac's weekly survey of conforming mortgages showed national average fixed-rate mortgage rates staying down near historic lows.
DID YOU KNOW?...Mortgage interest rates are based on Mortgage Backed Securities (MBS), also called mortgage bonds. When bond prices go up, mortgage rates go down, but when bonds drop, rates rise.
This Week’s Forecast
STEADY AS SHE GOES...This week there's a wide range of economic news, but it's all expected to be a bit bland. Core PCE Prices, the Fed's favorite inflation measure, should drift up a little, but stay well within the target range. The ISM and Chicago PMI indexes are forecast to show manufacturing growing, though at no faster a rate. Pending Home Sales, a measure of signed contracts for closings a few months out, should be down a bit in December after being up a bit the previous month. Q4 Productivity is expected to hold steady.
The big news of course will be the February Employment Report come Friday. But again, steady progress is predicted, not the dramatic boost in jobs we need. With 180,000 new jobs forecast, the unemployment rate will actually inch up because of workforce expansion.
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...There are more rumblings about inflation, which could send the Fed Funds Rate heading north, but not while the jobs recovery is proceeding at such a snail's pace. For the first half of the year, economists think there is virtually zero likelihood of a rate hike from the Fed. 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!
10 Reasons Renters Should Be Buyers
10 Reasons Renters Should Be Buyers
Renting is a very frustrating way of life. The money you pay every month disappears, leaving you with few benefits other than a roof over your head. Compared to owning a home, renting is a futile exercise that leaves you with nothing after your lease is up. It’s no surprise that people want to get out of the rent race, and here are 10 reasons why people decide to buy a home versus renting.
1. They Want to Build Equity
Homebuyers build equity as their property increases in value over time. This equity has many benefits, including the ability of a homebuyer to leverage equity in lines of credit to make repairs or additions to their home. Equity is a powerful thing and a natural consequence of home ownership. Renters never gain equity in their rental space, and at the end of their lease they are thrown out on the street with nothing to show for years of on time rental payments.
2. They Don’t Want to Throw Their Money Away
Without equity, what does paying your rent on time gain you every month? The truth is that paying rent guarantees a roof over your head for about 30 days and nothing more. In that sense, renting is like an extended stay hotel in that at the end of your rental period or lease you have nothing to show for the money you’ve paid. This makes renting a terrible investment when compared to home buying.
3. They Want More Space
It’s incredible how little you get for your rental payment each month. Most renters are lucky to have even a tiny balcony, let alone roomy closets o storage space. Many homes come with luxurious yards and spacious garages for storage. This makes buying a home an attractive option for those who prefer to stretch their legs.
4. They Want to Make Upgrades
Most leases forbid the renter from altering the rental space. For those do it yourselfers, this can mean a boring living experience. Home buyers are not only allowed to make upgrades, but doing so can be a great investment and raise the overall value of your home. From an investment perspective, this is a no brainer.
5. They Don’t Want to Pay Extra to Own Pets
For those pet lovers out there, renting can be a major financial undertaking. Pet deposits can be very expensive, and some apartments add a monthly premium to rent just for having a pet, and separate deposits/premiums for each pet. These fees can add up fast! Homebuyers don’t have to deal with these sorts of fees, and they can also typically provide a better environment for their pets as well.
6. They Don’t Want to Be So Close to Noisy Neighbors
Have you ever lived on the second floor of a 3 story apartment complex? Wild partiers underneath blaring music at 4AM and home fitness gurus doing jumping jacks above you can make you realize just how annoying living so close to your neighbors can be. Homebuyers can sometimes deal with annoying neighbors as well, but at least they’re not rattling your chandelier when they stomp their feet down the hallway.
7. They Don’t Want to Deal With a Landlord
Sometimes dealing with a landlord can be tough. Some landlords are not very friendly or flexible, and won’t hesitate to throw you on the street if rent isn’t on time. Other landlords can be so distant that problems with rent or appliances don’t get resolved for months or even years. As a homeowner, there’s no landlord to deal with and you have the freedom and independence of conducting business on your own terms.
8. Their Hobbies Make Renting a Bad Idea
Drummers and musicians need a place to live, but do you want them living above you in a cramped apartment complex? For those renters who have hobbies or professions that are noisy or require space, renting just isn’t an option for them. Owning a home with plenty of space is their only way to go.
9. They Don’t Want to Deal With Deposits
Security deposits? These never seem to work out in the renters favor and come moving time it always seems like every little problem leads to forfeiture of the sometimes huge security deposits we have to pay just to sign the lease. Home buyers don’t have to deal with this as their home is more closely tied to their assets and their individual independence.
10. They Want to Live the American Dream
Owning a home is a big part of the American dream, and most people would say that the independence, autonomy, and sense of accomplishment that owning a home brings is an essential part of the American way of life. Does renting an apartment do the same?
If this sounds like you then click the link below and start your search!
All "Betts" on Brian! The Only Realtor you Want!
Renting is a very frustrating way of life. The money you pay every month disappears, leaving you with few benefits other than a roof over your head. Compared to owning a home, renting is a futile exercise that leaves you with nothing after your lease is up. It’s no surprise that people want to get out of the rent race, and here are 10 reasons why people decide to buy a home versus renting.
1. They Want to Build Equity
Homebuyers build equity as their property increases in value over time. This equity has many benefits, including the ability of a homebuyer to leverage equity in lines of credit to make repairs or additions to their home. Equity is a powerful thing and a natural consequence of home ownership. Renters never gain equity in their rental space, and at the end of their lease they are thrown out on the street with nothing to show for years of on time rental payments.
2. They Don’t Want to Throw Their Money Away
Without equity, what does paying your rent on time gain you every month? The truth is that paying rent guarantees a roof over your head for about 30 days and nothing more. In that sense, renting is like an extended stay hotel in that at the end of your rental period or lease you have nothing to show for the money you’ve paid. This makes renting a terrible investment when compared to home buying.
3. They Want More Space
It’s incredible how little you get for your rental payment each month. Most renters are lucky to have even a tiny balcony, let alone roomy closets o storage space. Many homes come with luxurious yards and spacious garages for storage. This makes buying a home an attractive option for those who prefer to stretch their legs.
4. They Want to Make Upgrades
Most leases forbid the renter from altering the rental space. For those do it yourselfers, this can mean a boring living experience. Home buyers are not only allowed to make upgrades, but doing so can be a great investment and raise the overall value of your home. From an investment perspective, this is a no brainer.
5. They Don’t Want to Pay Extra to Own Pets
For those pet lovers out there, renting can be a major financial undertaking. Pet deposits can be very expensive, and some apartments add a monthly premium to rent just for having a pet, and separate deposits/premiums for each pet. These fees can add up fast! Homebuyers don’t have to deal with these sorts of fees, and they can also typically provide a better environment for their pets as well.
6. They Don’t Want to Be So Close to Noisy Neighbors
Have you ever lived on the second floor of a 3 story apartment complex? Wild partiers underneath blaring music at 4AM and home fitness gurus doing jumping jacks above you can make you realize just how annoying living so close to your neighbors can be. Homebuyers can sometimes deal with annoying neighbors as well, but at least they’re not rattling your chandelier when they stomp their feet down the hallway.
7. They Don’t Want to Deal With a Landlord
Sometimes dealing with a landlord can be tough. Some landlords are not very friendly or flexible, and won’t hesitate to throw you on the street if rent isn’t on time. Other landlords can be so distant that problems with rent or appliances don’t get resolved for months or even years. As a homeowner, there’s no landlord to deal with and you have the freedom and independence of conducting business on your own terms.
8. Their Hobbies Make Renting a Bad Idea
Drummers and musicians need a place to live, but do you want them living above you in a cramped apartment complex? For those renters who have hobbies or professions that are noisy or require space, renting just isn’t an option for them. Owning a home with plenty of space is their only way to go.
9. They Don’t Want to Deal With Deposits
Security deposits? These never seem to work out in the renters favor and come moving time it always seems like every little problem leads to forfeiture of the sometimes huge security deposits we have to pay just to sign the lease. Home buyers don’t have to deal with this as their home is more closely tied to their assets and their individual independence.
10. They Want to Live the American Dream
Owning a home is a big part of the American dream, and most people would say that the independence, autonomy, and sense of accomplishment that owning a home brings is an essential part of the American way of life. Does renting an apartment do the same?
If this sounds like you then click the link below and start your search!
All "Betts" on Brian! The Only Realtor you Want!
For the week of February 21, 2011
For the week of February 21, 2011
INFO THAT HITS US WHERE WE LIVE
Market Update
We who work in the real estate and mortgage industries know exactly how Elvis felt. The same people who unfairly blamed us totally for the recession now look to us alone for signs the economic recovery has taken hold. They might want to remember the health of the housing market is directly dependent on the health of the jobs market, which is not under our control. In any case, everyone felt better last week when January Housing Starts were UP a surprising 14.6%. Even though starts are down 2.6% from a year ago, this still shows builders are more hopeful going forward. The boost came from multi-family units, though single-family starts were off a mere 1% for the month.
A lot of home buying activity is due to the affordability now out there. The National Association of Home Builders (NAHB) and a major bank reported their index shows home affordability in Q4 of 2010 at its highest level in 20 years. Their measure found that 73.9% of the new and existing homes sold in Q4 were affordable to families making the national median income of $64,400.
Business tip of the week... A big part of success is not giving up. Studies show that one trait shared by all very successful people is perseverance. They are persistent, determined, tenacious, pursuing a goal far beyond the point where the average person gets discouraged.
Review of Last Week
THE BULLS KEEP CHARGING... It's not like the running of the bulls at Pamplona just yet, but the bulls on Wall Street are definitely picking up steam. We had another weekly gain in the stock market as the three major indexes were up around 1% and the Dow and the S&P 500 hit new two-year highs. The Nasdaq reached a three-year high, just short of its 2007 peak. If the stock markets are a leading indicator of the overall economy, the recovery should pick up steam as the year goes on.
There were worries over rising Chinese interest rates and disruptions in the Middle East, but these were dispelled by the economic reports. The consumer is key to the recovery, so it was good to see retail sales are now UP seven months in a row. Inflation was a little hotter than expected, as year-over-year, the Core Consumer Price Index is now up 1.0%. Core CPI, the Fed's key inflation reading, is still within their target range and observers feel deflation concerns are now put to rest.
In other news, the Empire State Index showed manufacturing continuing to expand. This is great, though the jobs recovery depends on the services sector, where over 85% of the workforce is employed. Fortunately, that sector is expanding at its fastest pace in five years. Let's hope the jobs follow.
For the week, the Dow ended UP 1.0%, at 12,391; the S&P 500 was also UP 1.0%, to 1,329; and the Nasdaq went UP 0.9%, ending at 2,834.
Even with the stock surge, bond prices held on. Inflation was a little hotter than expected, but still tame. The FNMA 4.0% bond we watch ended up 18 basis points for the week, closing at $97.18. Mortgage rates, which had been inching up, fell back a bit. Freddie Mac's weekly survey of conforming mortgages showed national average fixed-rate mortgage rates remained near historic lows.
This Week’s Forecast
JANUARY HOME SALES, CONSUMER MINDSET, Q4 GDP... Happy Presidents Day! The markets will be closed Monday but then we'll have some important economic reports. January Existing Homes Sales on Wednesday are expected to be a tad off December's pace. The same goes for January New Home Sales on Thursday.
The week begins and ends with readings on the consumer mindset. Tuesday's Consumer Confidence is forecast up for February while Friday's Michigan Consumer Sentiment should hold steady. January Durable Goods Orders are predicted to be growing again, a sign business is investing in capital equipment and, perhaps next, in jobs. Friday, we get the second estimate of Q4 GDP, expected to be up a bit from the original estimate.
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 You hear a lot more experts now disagreeing with Fed policy, including some Fed members. But Fed Chairman Bernanke seems determined to keep the Funds Rate at its rock bottom level until we see stronger signs of economic growth and jobs recovery. 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
Market Update
We who work in the real estate and mortgage industries know exactly how Elvis felt. The same people who unfairly blamed us totally for the recession now look to us alone for signs the economic recovery has taken hold. They might want to remember the health of the housing market is directly dependent on the health of the jobs market, which is not under our control. In any case, everyone felt better last week when January Housing Starts were UP a surprising 14.6%. Even though starts are down 2.6% from a year ago, this still shows builders are more hopeful going forward. The boost came from multi-family units, though single-family starts were off a mere 1% for the month.
A lot of home buying activity is due to the affordability now out there. The National Association of Home Builders (NAHB) and a major bank reported their index shows home affordability in Q4 of 2010 at its highest level in 20 years. Their measure found that 73.9% of the new and existing homes sold in Q4 were affordable to families making the national median income of $64,400.
Business tip of the week... A big part of success is not giving up. Studies show that one trait shared by all very successful people is perseverance. They are persistent, determined, tenacious, pursuing a goal far beyond the point where the average person gets discouraged.
Review of Last Week
THE BULLS KEEP CHARGING... It's not like the running of the bulls at Pamplona just yet, but the bulls on Wall Street are definitely picking up steam. We had another weekly gain in the stock market as the three major indexes were up around 1% and the Dow and the S&P 500 hit new two-year highs. The Nasdaq reached a three-year high, just short of its 2007 peak. If the stock markets are a leading indicator of the overall economy, the recovery should pick up steam as the year goes on.
There were worries over rising Chinese interest rates and disruptions in the Middle East, but these were dispelled by the economic reports. The consumer is key to the recovery, so it was good to see retail sales are now UP seven months in a row. Inflation was a little hotter than expected, as year-over-year, the Core Consumer Price Index is now up 1.0%. Core CPI, the Fed's key inflation reading, is still within their target range and observers feel deflation concerns are now put to rest.
In other news, the Empire State Index showed manufacturing continuing to expand. This is great, though the jobs recovery depends on the services sector, where over 85% of the workforce is employed. Fortunately, that sector is expanding at its fastest pace in five years. Let's hope the jobs follow.
For the week, the Dow ended UP 1.0%, at 12,391; the S&P 500 was also UP 1.0%, to 1,329; and the Nasdaq went UP 0.9%, ending at 2,834.
Even with the stock surge, bond prices held on. Inflation was a little hotter than expected, but still tame. The FNMA 4.0% bond we watch ended up 18 basis points for the week, closing at $97.18. Mortgage rates, which had been inching up, fell back a bit. Freddie Mac's weekly survey of conforming mortgages showed national average fixed-rate mortgage rates remained near historic lows.
This Week’s Forecast
JANUARY HOME SALES, CONSUMER MINDSET, Q4 GDP... Happy Presidents Day! The markets will be closed Monday but then we'll have some important economic reports. January Existing Homes Sales on Wednesday are expected to be a tad off December's pace. The same goes for January New Home Sales on Thursday.
The week begins and ends with readings on the consumer mindset. Tuesday's Consumer Confidence is forecast up for February while Friday's Michigan Consumer Sentiment should hold steady. January Durable Goods Orders are predicted to be growing again, a sign business is investing in capital equipment and, perhaps next, in jobs. Friday, we get the second estimate of Q4 GDP, expected to be up a bit from the original estimate.
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 You hear a lot more experts now disagreeing with Fed policy, including some Fed members. But Fed Chairman Bernanke seems determined to keep the Funds Rate at its rock bottom level until we see stronger signs of economic growth and jobs recovery. 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!
For the week of February 7, 2011
For the week of February 7, 2011
INFO THAT HITS US WHERE WE LIVE
Market Update
There's good news in the latest housing market forecast for 2011 from the National Association of Realtors (NAR). After dipping 4.8% last year, sales of existing homes are predicted to grow 7.9% this year, to 5.3 million. The gain for 2012 is forecast to be a little less, up 4.5%, to 5.53 million. The existing home median price went up 0.3% in 2010, a nice recovery from the 12.9% price drop of 2009. For 2011, the NAR sees it rising 0.5%, to $173,000, then another 2.4%, to $177,900, in 2012.
New home sales are forecast to come back more briskly, up 17.7% in 2011, following their 15.5% drop in 2010. The 2012 projection is for a strong 51.1% sales gain, to 565,000 homes. The median price for new homes, which gained 2.2% last year, should go up another 1.8% in 2011, to $224,700, then 1.9% in 2012, to $229,000. The NAR's chief economist says this rebound in home sales does depend on an improvement in the jobs market. Affordability also matters and in Q4 of 2010 housing was the most affordable on record, according to NAR numbers going back to 1971. The NAR feels the current situation of low home prices along with low interest rates should continue.
Review of Last Week
HELLO, 12,000!... Last week saw strong corporate earnings, more indications the economy is healing, and Ben Bernanke telling the National Press Club the Fed won't be withdrawing its policy support anytime soon. The net result? The Dow shot up five days in a row, crossing the 12,000 threshold and staying there, trading near its highest levels since the middle of 2008. All three major indexes delivered impressive gains, with the S&P 500 enjoying its best January since 1997. Investors shrugged off worries the Egyptian protests might further de-stabilize the whole Mideast.
Corporate earnings are running way ahead of expectations and, even more encouraging, future earnings estimates are up. The week's star performers included mammoth Exxon Mobil, drug biggie Pfizer, and video gamer Electronic Arts. The vast majority of companies reporting beat their Q4 earnings expectations, as retailers chimed in with better than expected monthly same store sales results for January.
Investors also liked the economic data. Q4 productivity was up 2.6%, proving that, yes, we ARE working harder. But we're also being compensated for that extra effort, as personal income rose in December along with personal spending, which helps fire up the economy. But things aren't overheating yet, since Core PCE Prices, the inflation number the Fed watches, was up just 0.7% the past year. ISM Manufacturing and Services indexes both showed strong economic growth. The January Employment Report showed a gain of just 36,000 jobs, but this was put to the unusually bad weather preventing people from working -- several hundred thousand more than usual. Private sector payrolls were up 50,000, their 11th monthly gain in a row, which helped drop the unemployment rate to 9.0%.
For the week, the Dow ended UP 2.3%, at 12,092; the S&P 500 was UP 2.7%, to 1,311; and the Nasdaq shot UP 3.1%, ending at 2,769.
While stocks soared higher, bonds got hammered. Even the Egyptian unrest couldn't ignite a flight to safety, as investors wanting to catch the rising wave of stock prices took their money out of bonds. The FNMA 4.0% bond we watch ended down 187 basis points for the week, closing at $97.22. In spite of this drop, news of an improving economy and low inflation kept mortgage rates at historically low levels. Freddie Mac's weekly survey of conforming mortgages reported average fixed-rate mortgage rates pretty much unchanged.
This Week’s Forecast
A QUIET WEEK... We'll have the usual weekly and continuing jobless claims, and no one is expecting huge drops in these numbers just yet. Optimistic observers expect serious declines in claims in another month or so. We'll also see the December Trade Balance showing imports growing versus exports, although U.S. companies' export revenues are still strong, a good thing. Finally, consumer confidence in the economy is forecast to be growing, at least the way the February Michigan Consumer Sentiment Index sees it on Friday.
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 Fed Chairman Bernanke spoke before the National Press Club last week and certainly left the impression that the Funds Rate will stay at its rock bottom level for a decent while longer. This week's economic reports shouldn't inspire the Fed to hike the Rate any time soon. 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
Market Update
There's good news in the latest housing market forecast for 2011 from the National Association of Realtors (NAR). After dipping 4.8% last year, sales of existing homes are predicted to grow 7.9% this year, to 5.3 million. The gain for 2012 is forecast to be a little less, up 4.5%, to 5.53 million. The existing home median price went up 0.3% in 2010, a nice recovery from the 12.9% price drop of 2009. For 2011, the NAR sees it rising 0.5%, to $173,000, then another 2.4%, to $177,900, in 2012.
New home sales are forecast to come back more briskly, up 17.7% in 2011, following their 15.5% drop in 2010. The 2012 projection is for a strong 51.1% sales gain, to 565,000 homes. The median price for new homes, which gained 2.2% last year, should go up another 1.8% in 2011, to $224,700, then 1.9% in 2012, to $229,000. The NAR's chief economist says this rebound in home sales does depend on an improvement in the jobs market. Affordability also matters and in Q4 of 2010 housing was the most affordable on record, according to NAR numbers going back to 1971. The NAR feels the current situation of low home prices along with low interest rates should continue.
Review of Last Week
HELLO, 12,000!... Last week saw strong corporate earnings, more indications the economy is healing, and Ben Bernanke telling the National Press Club the Fed won't be withdrawing its policy support anytime soon. The net result? The Dow shot up five days in a row, crossing the 12,000 threshold and staying there, trading near its highest levels since the middle of 2008. All three major indexes delivered impressive gains, with the S&P 500 enjoying its best January since 1997. Investors shrugged off worries the Egyptian protests might further de-stabilize the whole Mideast.
Corporate earnings are running way ahead of expectations and, even more encouraging, future earnings estimates are up. The week's star performers included mammoth Exxon Mobil, drug biggie Pfizer, and video gamer Electronic Arts. The vast majority of companies reporting beat their Q4 earnings expectations, as retailers chimed in with better than expected monthly same store sales results for January.
Investors also liked the economic data. Q4 productivity was up 2.6%, proving that, yes, we ARE working harder. But we're also being compensated for that extra effort, as personal income rose in December along with personal spending, which helps fire up the economy. But things aren't overheating yet, since Core PCE Prices, the inflation number the Fed watches, was up just 0.7% the past year. ISM Manufacturing and Services indexes both showed strong economic growth. The January Employment Report showed a gain of just 36,000 jobs, but this was put to the unusually bad weather preventing people from working -- several hundred thousand more than usual. Private sector payrolls were up 50,000, their 11th monthly gain in a row, which helped drop the unemployment rate to 9.0%.
For the week, the Dow ended UP 2.3%, at 12,092; the S&P 500 was UP 2.7%, to 1,311; and the Nasdaq shot UP 3.1%, ending at 2,769.
While stocks soared higher, bonds got hammered. Even the Egyptian unrest couldn't ignite a flight to safety, as investors wanting to catch the rising wave of stock prices took their money out of bonds. The FNMA 4.0% bond we watch ended down 187 basis points for the week, closing at $97.22. In spite of this drop, news of an improving economy and low inflation kept mortgage rates at historically low levels. Freddie Mac's weekly survey of conforming mortgages reported average fixed-rate mortgage rates pretty much unchanged.
This Week’s Forecast
A QUIET WEEK... We'll have the usual weekly and continuing jobless claims, and no one is expecting huge drops in these numbers just yet. Optimistic observers expect serious declines in claims in another month or so. We'll also see the December Trade Balance showing imports growing versus exports, although U.S. companies' export revenues are still strong, a good thing. Finally, consumer confidence in the economy is forecast to be growing, at least the way the February Michigan Consumer Sentiment Index sees it on Friday.
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 Fed Chairman Bernanke spoke before the National Press Club last week and certainly left the impression that the Funds Rate will stay at its rock bottom level for a decent while longer. This week's economic reports shouldn't inspire the Fed to hike the Rate any time soon. 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 March 4, 2011!
Daily Quotes March 4, 2011!
"Financial education needs to become a part of our national curriculum and scoring systems so that it's not just the rich kids that learn about money.. it's all of us."
-- David Bach, Personal Finance Author
"Communication is a skill that you can learn. It's like riding a bicycle
or typing. If you're willing to work at it, you can rapidly improve the
quality of every part of your life."
-- Brian Tracy, Author
"Only a man who knows what it is like to be defeated can reach down to
the bottom of his soul and come up with the extra ounce of power it
takes to win when the match is even."
-- Muhammad Ali, boxer
"Human kindness has never weakened the stamina or softened the fiber of
a free people. A nation does not have to be cruel to be tough."
-- Franklin Roosevelt, 32nd U.S. president
"If we could sell our experiences for what they cost us, we'd all be millionaires."
-- Abigail Van Buren
All "Betts" on Brian! The Only Realtor you Want!
"Financial education needs to become a part of our national curriculum and scoring systems so that it's not just the rich kids that learn about money.. it's all of us."
-- David Bach, Personal Finance Author
"Communication is a skill that you can learn. It's like riding a bicycle
or typing. If you're willing to work at it, you can rapidly improve the
quality of every part of your life."
-- Brian Tracy, Author
"Only a man who knows what it is like to be defeated can reach down to
the bottom of his soul and come up with the extra ounce of power it
takes to win when the match is even."
-- Muhammad Ali, boxer
"Human kindness has never weakened the stamina or softened the fiber of
a free people. A nation does not have to be cruel to be tough."
-- Franklin Roosevelt, 32nd U.S. president
"If we could sell our experiences for what they cost us, we'd all be millionaires."
-- Abigail Van Buren
All "Betts" on Brian! The Only Realtor you Want!
Thursday, February 3, 2011
Daily Quotes Feb. 3 2011!
Daily Quotes Feb. 3 2011!
"Successful people form the habit of doing what failures don't like to do. They like the results they get by doing what they don't necessarily enjoy. "
-- Earl Nightingale, Motivational Speaker
"Success depends on getting good at saying no without feeling guilty. You cannot get ahead with your own goals if you are always saying yes to someone else's projects. You can only get ahead with your desired lifestyle if you are focused on the things that will produce that lifestyle."
-- Jack Canfield, Success Coach
"A clear vision, backed by definite plans, gives you a tremendous
feeling of confidence and personal power."
-- Brian Tracy, Author
"Do not wait; the time will never be "just right." Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along."
-- Napoleon Hill, Writer
"In the absence of clearly-defined goals, we become strangely loyal to
performing daily trivia until ultimately we become enslaved by it."
-- Robert Heinlein
All "Betts" on Brian! The Only Realtor you Want!
"Successful people form the habit of doing what failures don't like to do. They like the results they get by doing what they don't necessarily enjoy. "
-- Earl Nightingale, Motivational Speaker
"Success depends on getting good at saying no without feeling guilty. You cannot get ahead with your own goals if you are always saying yes to someone else's projects. You can only get ahead with your desired lifestyle if you are focused on the things that will produce that lifestyle."
-- Jack Canfield, Success Coach
"A clear vision, backed by definite plans, gives you a tremendous
feeling of confidence and personal power."
-- Brian Tracy, Author
"Do not wait; the time will never be "just right." Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along."
-- Napoleon Hill, Writer
"In the absence of clearly-defined goals, we become strangely loyal to
performing daily trivia until ultimately we become enslaved by it."
-- Robert Heinlein
All "Betts" on Brian! The Only Realtor you Want!
Wednesday, February 2, 2011
LOAN MODIFICATION SCAMS
LOAN MODIFICATION SCAMS
It is obvious that the scammers are very active right now. They have many ways to take advantage of desperate and distressed homeowners in today's real estate market. One of the best things a homeowner can do to protect him or herself from these scammers is to work with a licensed professional. Mortgage and real estate licensees are trained in how to help homeowners who face these very problems. As your Real Estate agent, please know that I am available for questions.
Here is a list of simple things homeowners can do to protect themselves:
Make sure that the loan modification company is • licensed with the Division of Real Estate.
Do not work with any individual or company that is not licensed.
Talk to your lender or servicer directly. Let your lender know your problems, and discuss ways you might resolve the issues
Never make your mortgage payment to a third party.
Do not pay an up-front fee. Do not pay any • fees until you receive a written offer from your lender or servicer for modified loan terms.
Do not stop making your mortgage payments. • Doing so will put you closer to foreclosure.
Do not sign a quit claim deed to another property.•
Do not sign any documents in blank. • Make sure your read what you sign.
If you think you are being scammed, file a complaint with the Division of Real Estate.
If you need some REAL advise, Call Me!
Your friend in real estate,
Brian E. Betts
All "Betts" on Brian! The Only Realtor you Want!
It is obvious that the scammers are very active right now. They have many ways to take advantage of desperate and distressed homeowners in today's real estate market. One of the best things a homeowner can do to protect him or herself from these scammers is to work with a licensed professional. Mortgage and real estate licensees are trained in how to help homeowners who face these very problems. As your Real Estate agent, please know that I am available for questions.
Here is a list of simple things homeowners can do to protect themselves:
Make sure that the loan modification company is • licensed with the Division of Real Estate.
Do not work with any individual or company that is not licensed.
Talk to your lender or servicer directly. Let your lender know your problems, and discuss ways you might resolve the issues
Never make your mortgage payment to a third party.
Do not pay an up-front fee. Do not pay any • fees until you receive a written offer from your lender or servicer for modified loan terms.
Do not stop making your mortgage payments. • Doing so will put you closer to foreclosure.
Do not sign a quit claim deed to another property.•
Do not sign any documents in blank. • Make sure your read what you sign.
If you think you are being scammed, file a complaint with the Division of Real Estate.
If you need some REAL advise, Call Me!
Your friend in real estate,
Brian E. Betts
All "Betts" on Brian! The Only Realtor you Want!
For the week of January 24, 2011
For the week of January 24, 2011
INFO THAT HITS US WHERE WE LIVE
Market Update
Thursday saw Existing Home Sales shoot up 12.3% in December, to an annual rate of 5.28 million, well ahead of the 4.87 million rate the consensus expected. Overall, existing home sales are off 2.9% compared to a year ago, but that's when sales were artificially boosted by the homebuyer tax credits. All regions showed sales gains in single family homes, condos and coops.
The supply of existing homes dropped to 8.1 months from 9.5 months in November. The pace of existing home sales is up 38% since July and sales are now only around 5% off the long-term trend, which has been a 5.5 million annual pace. All this has happened without government tax credit support. Smart buyers don't want to miss out on housing affordability that's at its highest level in 40 years.
Earlier in the week we saw housing starts drop 4.3% for December to a 529,000 unit annual rate. But colder temperatures and more snow than usual slowed starts in many parts of the country. Home completions actually increased for the month, while building permits shot up a strong 16.7%, to a 635,000 annual rate. We're not out of the woods yet, as permits are off 6.8% from a year ago and starts are down 8.2% compared to last year.
Review of Last Week
SHORT WEEK FALLS SHORT... The holiday shortened week ended its four days of trading with only the Dow ahead, the S&P 500 and the Nasdaq both dropping a bit. What bothered investors were some Q4 corporate earnings that fell short, plus more worries that China will hike its interest rates to cool down an overheating economy, already growing at about a 10% annual rate.
Earnings disappointments included a couple of the big financials, although three others in the sector beat expectations. Beyond that, General Electric, IBM, and Google all reported strong, better than expected Q4 earnings. GE even went so far as to forecast increasing profits in the years ahead. Apple then showed up to hit the ball out of the park with Q4 revenues up 70.5% year over year, blowing estimates out of the water with ease. But it was unfortunate to learn that Apple CEO Steve Jobs is taking another indefinite leave to deal with health challenges.
The Empire State Index, which gauges manufacturing in New York, grew to 11.9 in January from 9.9 the previous month, reflecting manufacturing gains across the country. New weekly unemployment claims dropped by 37,000, putting the four-week moving average at 412,000, its lowest level since July 2008. Meanwhile, continuing claims dropped to 3.86 million, their lowest number since October 2008. The Philadelphia Fed Index of manufacturing activity in that region was down in January, but the Leading Economic Indicators (LEI) index was up, better than expected.
For the week, the Dow ended up 0.7%, at 11872; the S&P 500 was off 0.8%, to 1283; and the Nasdaq dropped 2.4%, ending at 2690.
Bonds were under pressure last week, with yields going up as prices headed down. The FNMA 4.0% bond we watch ended down 83 basis points for the week, closing at $98.31. According to Freddie Mac's weekly survey of conforming mortgages, average fixed-rate mortgage rates changed little, remaining at super low levels. Tame inflation is the reason, with core consumer prices compared to December 2009 up a paltry 0.8%, their smallest yearly gain since 1958.
This Week’s Forecast
THE FED, PLUS OUR FAVORITE TOPIC... There's another Fed meeting this week to grab everyone's attention, but no one expects a hike in the Funds Rate quite yet. The FOMC statement will be closely examined to see how the nation's central bank views our economic recovery. The housing part of that recovery will also be covered with Wednesday's December New Home Sales, expected to be up slightly from the prior month. But Thursday's Pending Home Sales for November should be down slightly for existing homes.
The week is bookended with readings on the consumer. Tuesday's Consumer Confidence and Friday's Michigan Consumer Sentiment are both forecast to be improving in January. Finally, we close the week with the advanced Q4 GDP number, expected to come in at a solid 3.8% annual growth rate.
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 Rumblings have begun that the Fed is sure to hike the Funds Rate in the second half of the year. But with inflation still well under control, economists do not expect any rate increases for the next few months. 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
Market Update
Thursday saw Existing Home Sales shoot up 12.3% in December, to an annual rate of 5.28 million, well ahead of the 4.87 million rate the consensus expected. Overall, existing home sales are off 2.9% compared to a year ago, but that's when sales were artificially boosted by the homebuyer tax credits. All regions showed sales gains in single family homes, condos and coops.
The supply of existing homes dropped to 8.1 months from 9.5 months in November. The pace of existing home sales is up 38% since July and sales are now only around 5% off the long-term trend, which has been a 5.5 million annual pace. All this has happened without government tax credit support. Smart buyers don't want to miss out on housing affordability that's at its highest level in 40 years.
Earlier in the week we saw housing starts drop 4.3% for December to a 529,000 unit annual rate. But colder temperatures and more snow than usual slowed starts in many parts of the country. Home completions actually increased for the month, while building permits shot up a strong 16.7%, to a 635,000 annual rate. We're not out of the woods yet, as permits are off 6.8% from a year ago and starts are down 8.2% compared to last year.
Review of Last Week
SHORT WEEK FALLS SHORT... The holiday shortened week ended its four days of trading with only the Dow ahead, the S&P 500 and the Nasdaq both dropping a bit. What bothered investors were some Q4 corporate earnings that fell short, plus more worries that China will hike its interest rates to cool down an overheating economy, already growing at about a 10% annual rate.
Earnings disappointments included a couple of the big financials, although three others in the sector beat expectations. Beyond that, General Electric, IBM, and Google all reported strong, better than expected Q4 earnings. GE even went so far as to forecast increasing profits in the years ahead. Apple then showed up to hit the ball out of the park with Q4 revenues up 70.5% year over year, blowing estimates out of the water with ease. But it was unfortunate to learn that Apple CEO Steve Jobs is taking another indefinite leave to deal with health challenges.
The Empire State Index, which gauges manufacturing in New York, grew to 11.9 in January from 9.9 the previous month, reflecting manufacturing gains across the country. New weekly unemployment claims dropped by 37,000, putting the four-week moving average at 412,000, its lowest level since July 2008. Meanwhile, continuing claims dropped to 3.86 million, their lowest number since October 2008. The Philadelphia Fed Index of manufacturing activity in that region was down in January, but the Leading Economic Indicators (LEI) index was up, better than expected.
For the week, the Dow ended up 0.7%, at 11872; the S&P 500 was off 0.8%, to 1283; and the Nasdaq dropped 2.4%, ending at 2690.
Bonds were under pressure last week, with yields going up as prices headed down. The FNMA 4.0% bond we watch ended down 83 basis points for the week, closing at $98.31. According to Freddie Mac's weekly survey of conforming mortgages, average fixed-rate mortgage rates changed little, remaining at super low levels. Tame inflation is the reason, with core consumer prices compared to December 2009 up a paltry 0.8%, their smallest yearly gain since 1958.
This Week’s Forecast
THE FED, PLUS OUR FAVORITE TOPIC... There's another Fed meeting this week to grab everyone's attention, but no one expects a hike in the Funds Rate quite yet. The FOMC statement will be closely examined to see how the nation's central bank views our economic recovery. The housing part of that recovery will also be covered with Wednesday's December New Home Sales, expected to be up slightly from the prior month. But Thursday's Pending Home Sales for November should be down slightly for existing homes.
The week is bookended with readings on the consumer. Tuesday's Consumer Confidence and Friday's Michigan Consumer Sentiment are both forecast to be improving in January. Finally, we close the week with the advanced Q4 GDP number, expected to come in at a solid 3.8% annual growth rate.
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 Rumblings have begun that the Fed is sure to hike the Funds Rate in the second half of the year. But with inflation still well under control, economists do not expect any rate increases for the next few months. 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 Feb. 2 2011!
Daily Quotes Feb. 2 2011!
"Freedom lies in being bold."
-- Robert Frost, poet
"When you find yourself stressed, ask yourself one question: Will this
matter five years from now? If yes, then do something about the
situation. If no, then let it go."
-- Catherine Pulsifer, writer
"The wisest mind has something yet to learn."
-- George Santayana, Philosopher
"Genius is 1% inspiration and 99% perspiration. Accordingly a genius is
often merely a talented person who has done all of his or her homework."
-- Thomas Edison, Inventor
"High achievement always takes place in the framework of high expectation."
-- Charles Kettering, Inventor
All "Betts" on Brian! The Only Realtor you want!
"Freedom lies in being bold."
-- Robert Frost, poet
"When you find yourself stressed, ask yourself one question: Will this
matter five years from now? If yes, then do something about the
situation. If no, then let it go."
-- Catherine Pulsifer, writer
"The wisest mind has something yet to learn."
-- George Santayana, Philosopher
"Genius is 1% inspiration and 99% perspiration. Accordingly a genius is
often merely a talented person who has done all of his or her homework."
-- Thomas Edison, Inventor
"High achievement always takes place in the framework of high expectation."
-- Charles Kettering, Inventor
All "Betts" on Brian! The Only Realtor you want!
Tuesday, February 1, 2011
Daily Quotes Feb. 1 2011!
Daily Quotes Feb. 1 2011!
"Your own resolution to succeed is more important than any other one thing."
-- Abraham Lincoln, 16th U.S. president
"You do not succeed because you do not know what you want or you don't want it intensely enough."
-- Frank Crane, Minister
"I have found that being honest is the best technique I can use. Right
upfront, tell people what you're trying to accomplish and what you're
willing to sacrifice to accomplish it."
-- Lee Iacocca, executive
"You need to overcome the tug of people against you as you reach for high goals."
-- George Patton, General
"The key to successful leadership today is influence, not authority."
-- Kenneth Blanchard, writer
All "Betts" on Brian! The Only Realtor you Want!
"Your own resolution to succeed is more important than any other one thing."
-- Abraham Lincoln, 16th U.S. president
"You do not succeed because you do not know what you want or you don't want it intensely enough."
-- Frank Crane, Minister
"I have found that being honest is the best technique I can use. Right
upfront, tell people what you're trying to accomplish and what you're
willing to sacrifice to accomplish it."
-- Lee Iacocca, executive
"You need to overcome the tug of people against you as you reach for high goals."
-- George Patton, General
"The key to successful leadership today is influence, not authority."
-- Kenneth Blanchard, writer
All "Betts" on Brian! The Only Realtor you Want!
Monday, January 31, 2011
Daily Quotes Jan. 31 2011!
Daily Quotes Jan. 31 2011!
"Hope works in these ways: it looks for the good in people instead of harping on the worst; it discovers what can be done instead of grumbling about what cannot; it regards problems, large or small, as opportunities; it pushes ahead when it would be easy to quit; it "lights the candle" instead of "cursing the darkness.""
Anonymous
"I feel that the greatest reward for doing is the opportunity to do more."
Jonas Salk, virologist
"A clear vision, backed by definite plans, gives you a tremendous feeling of confidence and personal power."
Brian Tracy, Author
"Create a definite plan for carrying out your desire and begin at once, whether you ready or not, to put this plan into action."
Napolean Hill, Motivational Writer
"A successful life is one that is lived through understanding and pursuing one's own path, not chasing after the dreams of others."
Chin-Ning Chu, Strategist
All "Betts" on Brian! The Only Realtor you want!
"Hope works in these ways: it looks for the good in people instead of harping on the worst; it discovers what can be done instead of grumbling about what cannot; it regards problems, large or small, as opportunities; it pushes ahead when it would be easy to quit; it "lights the candle" instead of "cursing the darkness.""
Anonymous
"I feel that the greatest reward for doing is the opportunity to do more."
Jonas Salk, virologist
"A clear vision, backed by definite plans, gives you a tremendous feeling of confidence and personal power."
Brian Tracy, Author
"Create a definite plan for carrying out your desire and begin at once, whether you ready or not, to put this plan into action."
Napolean Hill, Motivational Writer
"A successful life is one that is lived through understanding and pursuing one's own path, not chasing after the dreams of others."
Chin-Ning Chu, Strategist
All "Betts" on Brian! The Only Realtor you want!
Wednesday, January 19, 2011
Daily Quotes Jan. 19 2011!
Daily Quotes Jan. 19 2011!
"To know yourself is the first and most important step in pursuing your
dreams and goals."
-- Stedman Graham, educator
"It is literally true that you can succeed best and quickest by helping
others to succeed."
-- Napolean Hill, author
"A winner is someone who recognizes his God-given talents, works his
tail off to develop them into skills and uses these skills to accomplish
his goals."
-- Larry Bird, basketball player
"Every mistake that I made - and we all make mistakes - came because I
didn't take the time to get the facts. I didn't drive hard enough."
-- Charles Knight, publisher
"If you just set out to be liked, you would be prepared to compromise on
anything at anytime, and you would achieve nothing."
-- Margaret Thatcher, British prime minister
All "Betts" on Brian! The Only Realtor you Want!
"To know yourself is the first and most important step in pursuing your
dreams and goals."
-- Stedman Graham, educator
"It is literally true that you can succeed best and quickest by helping
others to succeed."
-- Napolean Hill, author
"A winner is someone who recognizes his God-given talents, works his
tail off to develop them into skills and uses these skills to accomplish
his goals."
-- Larry Bird, basketball player
"Every mistake that I made - and we all make mistakes - came because I
didn't take the time to get the facts. I didn't drive hard enough."
-- Charles Knight, publisher
"If you just set out to be liked, you would be prepared to compromise on
anything at anytime, and you would achieve nothing."
-- Margaret Thatcher, British prime minister
All "Betts" on Brian! The Only Realtor you Want!
Monday, January 17, 2011
Spring Is approaching!
Spring Is approaching!
I wanted to give you a chance to beat all your competition and list sooner than everyone else! I know you’ve heard, and I’m sure you have said it yourself, “I want to List my Home in the Spring.” that is what EVERONE is saying and this is why you should List Your Home NOW! Don’t be lost in the shuffle! Don’t be drowned out with all the new listings in the spring. List your home TODAY! The buyers are out there and they are serious!
In the last 30 days, in Salt Lake County, Homes and Condos, 521 Sold, 527 Went Under Contract with a buyer and 1097 Homes went Active! That looks like to me that 1 out of every 2 homes that went on the Market in the last 30 days are selling! Come spring that Active number will go up A LOT!
Don’t be lost in the Rush! Call today for a FREE, No Obligation, Market Analysis! You can also go to www.brianebetts.com and fill out a form! See what your home will sell for in Today’s Market!
At Least you will know!
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
For the week of January 17, 2011
For the week of January 17, 2011
INFO THAT HITS US WHERE WE LIVE
Market Update
Down in Orlando, Florida, last week there were more housing market forecasts for the year just begun. Bottom line? Housing economists are cautiously optimistic about a recovery during 2011. These economists were presenting their views at the annual meeting of the National Association of Home Builders (NAHB). None of the experts see a robust upturn for housing. But they do feel that home sales, which have been in a bit of a stall, may start to recover soon.
The prevailing opinion is that the residential market should pick up in the spring, thanks to low mortgage rates and home prices at bargain levels. The NAHB's chief economist feels that recent economic indicators are "signifying growing consumer confidence." These indicators include job creations, good retail sales, and increasing purchases of big ticket items like cars and furniture. Freddie Mac's chief economist sees home prices bottoming in the first six months. He expects mortgage rates to edge up slightly but still remain at historically low levels. Overall, home sales are forecast to be up from 4% to 10% year-over-year and for new construction to be up by 20%.
Review of Last Week
THINGS KEEP LOOKING UP... Investors seem to be more positive about the U.S. economy and the European financial situation. They articulate those views by trading stock prices up and last week, they sent the Dow, the broadly based S&P 500, and the tech-heavy Nasdaq UP by solid percentages. Across the pond, Portugal, Italy, and Spain got some much needed support. Over here, Q4 corporate earnings season got off to a good start, supported by some encouraging economic data.
A slight glitch in the proceedings came from an increase in weekly unemployment claims to 445,000. But the four-week moving average is at 417,000 and continuing unemployment claims dropped by 248,000 to 3.88 million, the lowest it's been since October 2008. Strongly positive economic signs came from a shrinking trade deficit, with exports running ahead of imports over the past year. Inflation appears to be in check, as measured by Core CPI, the Fed's key reading on the matter. This means the Fed Funds rate can stay at its current low levels.
Retail sales were up slightly less than expected for December, but they did reach an all-time high, surpassing the November 2007 figure. For the last year, retail sales are up almost 8% and they've been growing at a 13% annual rate the past three months. In corporate Q4 earnings news, major players Alcoa, JPMorgan Chase, and Intel beat estimates and issued better than expected guidance going forward.
For the week, the Dow ended up 1.0%, at 11,787; the S&P 500 went up 1.7%, to 1,293; and the Nasdaq shot up 1.9%, ending at 2,755.
Bond prices went on an up and down trip last week, with varied results at the finish. The FNMA 4.0% bond we watch ended virtually flat, down 4 basis points for the week, closing at $99.14. According to Freddie Mac's weekly survey of conforming mortgages, average fixed-rate mortgage rates dropped for the second week in a row. The national average rate for 30-year fixed rate mortgages hit a four-week low after their slight uptick at the end of last year.
This Week’s Forecast
HOUSING, MANUFACTURING, THE ECONOMY OVERALL... Financial markets are closed Monday in observance of Martin Luther King Day. The rest of the week features some measures of the housing market. Wednesday's December Housing Starts and Building Permits will show us the mindset of home builders. Starts are forecast to be down a little, but the weather wasn't conducive to breaking ground in many regions of the country. Permits indicate starts a month or two out and they should be up a little, the same as December Existing Home Sales, coming on Thursday.
Manufacturing is expected to expand in the New York region, as measured by Tuesday's Empire State Index, but Thursday's Philadelphia Fed Index may show a slight manufacturing contraction. Also that day, the Leading Economic Indicators (LEI) Index for December is forecast to continue to improve, although at a slightly slower rate than the previous month.
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 With inflation still under control, economists expect the Fed to keep the Funds Rate at its super low level well into the year. The experts feel the economy is not yet strong enough to handle a rate hike just yet. 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
Market Update
Down in Orlando, Florida, last week there were more housing market forecasts for the year just begun. Bottom line? Housing economists are cautiously optimistic about a recovery during 2011. These economists were presenting their views at the annual meeting of the National Association of Home Builders (NAHB). None of the experts see a robust upturn for housing. But they do feel that home sales, which have been in a bit of a stall, may start to recover soon.
The prevailing opinion is that the residential market should pick up in the spring, thanks to low mortgage rates and home prices at bargain levels. The NAHB's chief economist feels that recent economic indicators are "signifying growing consumer confidence." These indicators include job creations, good retail sales, and increasing purchases of big ticket items like cars and furniture. Freddie Mac's chief economist sees home prices bottoming in the first six months. He expects mortgage rates to edge up slightly but still remain at historically low levels. Overall, home sales are forecast to be up from 4% to 10% year-over-year and for new construction to be up by 20%.
Review of Last Week
THINGS KEEP LOOKING UP... Investors seem to be more positive about the U.S. economy and the European financial situation. They articulate those views by trading stock prices up and last week, they sent the Dow, the broadly based S&P 500, and the tech-heavy Nasdaq UP by solid percentages. Across the pond, Portugal, Italy, and Spain got some much needed support. Over here, Q4 corporate earnings season got off to a good start, supported by some encouraging economic data.
A slight glitch in the proceedings came from an increase in weekly unemployment claims to 445,000. But the four-week moving average is at 417,000 and continuing unemployment claims dropped by 248,000 to 3.88 million, the lowest it's been since October 2008. Strongly positive economic signs came from a shrinking trade deficit, with exports running ahead of imports over the past year. Inflation appears to be in check, as measured by Core CPI, the Fed's key reading on the matter. This means the Fed Funds rate can stay at its current low levels.
Retail sales were up slightly less than expected for December, but they did reach an all-time high, surpassing the November 2007 figure. For the last year, retail sales are up almost 8% and they've been growing at a 13% annual rate the past three months. In corporate Q4 earnings news, major players Alcoa, JPMorgan Chase, and Intel beat estimates and issued better than expected guidance going forward.
For the week, the Dow ended up 1.0%, at 11,787; the S&P 500 went up 1.7%, to 1,293; and the Nasdaq shot up 1.9%, ending at 2,755.
Bond prices went on an up and down trip last week, with varied results at the finish. The FNMA 4.0% bond we watch ended virtually flat, down 4 basis points for the week, closing at $99.14. According to Freddie Mac's weekly survey of conforming mortgages, average fixed-rate mortgage rates dropped for the second week in a row. The national average rate for 30-year fixed rate mortgages hit a four-week low after their slight uptick at the end of last year.
This Week’s Forecast
HOUSING, MANUFACTURING, THE ECONOMY OVERALL... Financial markets are closed Monday in observance of Martin Luther King Day. The rest of the week features some measures of the housing market. Wednesday's December Housing Starts and Building Permits will show us the mindset of home builders. Starts are forecast to be down a little, but the weather wasn't conducive to breaking ground in many regions of the country. Permits indicate starts a month or two out and they should be up a little, the same as December Existing Home Sales, coming on Thursday.
Manufacturing is expected to expand in the New York region, as measured by Tuesday's Empire State Index, but Thursday's Philadelphia Fed Index may show a slight manufacturing contraction. Also that day, the Leading Economic Indicators (LEI) Index for December is forecast to continue to improve, although at a slightly slower rate than the previous month.
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 With inflation still under control, economists expect the Fed to keep the Funds Rate at its super low level well into the year. The experts feel the economy is not yet strong enough to handle a rate hike just yet. 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!
An Update on the Utah Economy
An Update on the Utah Economy
A report commissioned by the Salt Lake Board of Realtors reveals that since World War II there have only been two severe contractions in Salt Lake County’s real estate market.
If you are a baby boomer, you will remember the first contraction. It occurred from 1979-1982. Back then, the Salt Lake housing collapse was a result of overbuilding, high inflation (13%) and double digit mortgage interest rates (18%).
The second contraction is taking place now (2006-2010). In spite of an environment of low inflation and record-low mortgage interest rates, the demand for housing has remained weak. The primary causes of today’s lackluster housing market are vanishing demand, unemployment and underwater mortgages (negative equity).
In fact, in Salt Lake City there were more than 45,000 residential properties (20%) in negative equity in the third quarter, according to CoreLogic. This prevents homeowners little chance of moving up, a common feature of the real estate market.
What is needed more for a solid housing recovery? According to the Salt Lake Board’s report, an expanding job market is essential for a recovery. Good news about jobs will reduce uncertainty for homebuyers and sellers, help boost in-migration and provide the means for some of those doubled-up households to reenter the housing market.
Thankfully, Utah has turned the corner and is one again creating jobs. Further, according to Utah’s Revenue Assumption Committee, all of Utah’s major economic indicators will turn positive by 2011 with the exception of commercial building permits.
Specifically, the committee projects a much brighter future in 2011. Utah’s unemployment rate will fall to nearly 7%. The average annual wage is projected to rise 2.3%. Utah’s population will increase 1.7%. New auto and truck sales will skyrocket at 14.1%. New building permits for residential homes are expected to increase 18.3%, the first time residential construction will register a gain since 2005. And Utah exports will grow to $13.5 billion up 7.5%.
The Great Recession will be remembered for its long duration and economic devastation. Yet, it appears the gloom is near an end. Even foreclosures, which in Utah peaked in the first quarter, have begun a slow decent.
As one great man once said, “Night never had the last word. The dawn is always invincible.” So it is with this downturn. Let the recovery begin.
--Bryan Kohler, CEO of the Salt Lake Board of Realtors
All "Betts" on Brian! The Only Realtor you Want!
A report commissioned by the Salt Lake Board of Realtors reveals that since World War II there have only been two severe contractions in Salt Lake County’s real estate market.
If you are a baby boomer, you will remember the first contraction. It occurred from 1979-1982. Back then, the Salt Lake housing collapse was a result of overbuilding, high inflation (13%) and double digit mortgage interest rates (18%).
The second contraction is taking place now (2006-2010). In spite of an environment of low inflation and record-low mortgage interest rates, the demand for housing has remained weak. The primary causes of today’s lackluster housing market are vanishing demand, unemployment and underwater mortgages (negative equity).
In fact, in Salt Lake City there were more than 45,000 residential properties (20%) in negative equity in the third quarter, according to CoreLogic. This prevents homeowners little chance of moving up, a common feature of the real estate market.
What is needed more for a solid housing recovery? According to the Salt Lake Board’s report, an expanding job market is essential for a recovery. Good news about jobs will reduce uncertainty for homebuyers and sellers, help boost in-migration and provide the means for some of those doubled-up households to reenter the housing market.
Thankfully, Utah has turned the corner and is one again creating jobs. Further, according to Utah’s Revenue Assumption Committee, all of Utah’s major economic indicators will turn positive by 2011 with the exception of commercial building permits.
Specifically, the committee projects a much brighter future in 2011. Utah’s unemployment rate will fall to nearly 7%. The average annual wage is projected to rise 2.3%. Utah’s population will increase 1.7%. New auto and truck sales will skyrocket at 14.1%. New building permits for residential homes are expected to increase 18.3%, the first time residential construction will register a gain since 2005. And Utah exports will grow to $13.5 billion up 7.5%.
The Great Recession will be remembered for its long duration and economic devastation. Yet, it appears the gloom is near an end. Even foreclosures, which in Utah peaked in the first quarter, have begun a slow decent.
As one great man once said, “Night never had the last word. The dawn is always invincible.” So it is with this downturn. Let the recovery begin.
--Bryan Kohler, CEO of the Salt Lake Board of Realtors
All "Betts" on Brian! The Only Realtor you Want!
For the week of January 3, 2011
For the week of January 3, 2011
INFO THAT HITS US WHERE WE LIVE
Market Update
Last week saw the year finish on a high note for the housing market with Pending Home Sales for November coming in UP 3.5%, after this figure was expected to be down slightly for the month. This reading measures homes under contract, and therefore should point to an increase in closings in the January-February time frame.
The positive Pending Home Sales report was particularly welcome after Tuesday's Standard & Poor's/Case-Shiller Home Price Index for October. Their 20-City Composite Index registered a 0.8% price decline year-over-year. Some say this threatens a "double dip" in housing prices, an interesting observation now that the "double dip" recession threat has all but evaporated.
The negative talk ignored the facts that 4 of the 20 cities showed annual price GAINS and the index is still above its spring 2009 low. In addition, the Case-Shiller 10-City Index showed a year-over-year price gain. It's important to remember that real estate is local and these indexes average only 10 or 20 metro areas. Some analysts feel home prices have bottomed in most markets and a few intrepid observers are even predicting a strong comeback for housing in 2011!
Review of Last Week
UP TWO YEARS IN A ROW... Investors have been encouraged by recent signs of improvement in the economic situation. Not surprisingly, the stock markets closed out the year UP for the second year in a row. For 2010, the Dow Jones Industrial Average posted an 11% gain. The broader-based S&P 500 index ended UP 12.8%, and the Nasdaq Composite moved UP a hefty 16.9% from where it was 12 months ago. For the week, all three indexes were basically flat with light trading volumes.
Not all the economic signs were rosy, however, as Consumer Confidence for December dropped to 52.5 from its 54.1 level in November. This was also well below the consensus estimate. As covered above, the October Case-Shiller home price index had its disappointments as well, although November Pending Homes Sales numbers gave us hope about a boost in closings in the next month or two.
Other good news included the Chicago PMI index for December, unexpectedly UP well above estimates, reaching 68.6 versus November's 62.5. This indicates continued strong growth in manufacturing in that part of the country. Initial weekly jobless claims dropped below the 400,000 level, coming in way better than consensus forecasts, at 388,000. This was well under the prior week's 420,000 initial claims and continues the downward trend of the last few weeks. We're of course still not where we should be with jobs, although finally moving in the right direction.
For the week, the Dow ended up 5 points, at 11,578; the S&P 500 edged up a point, to 1,258; and the Nasdaq was off 0.5%, ending at 2,653. (Note: we've dropped the decimals and rounded the indexes to their nearest whole numbers.)
The bond market swung up and down like a yo-yo all week. But the FNMA 30-year 4.0% bond we watch ultimately finished UP 101 basis points, closing at $99.18. Average fixed-rate mortgage rates also ticked up, but stayed "incredibly low," according to Freddie Mac's weekly survey of conforming mortgages. Their chief economist observed that for the year, 30-year fixed mortgage rates reported "...the lowest annual average since 1955, when the average price of a home was $22,000." But with possible rate increases, people who want to buy or refinance should not waste time.
This Week’s Forecast
WHAT THE FED SAID AND EMPLOYERS DID... We start the new year by finding out Tuesday what the Fed said about the economic situation as recorded in the Minutes of their December 14 FOMC meeting. Subsequently, we'll find out what employers did about creating new jobs in Friday's December Employment Report. An increase of 132,000 jobs is expected, although that won't be enough to lower the unemployment rate, with new people coming into the labor force.
We'll also have a look at the health of US manufacturing in Monday's ISM Index and the non-manufacturing sector in Wednesday's ISM Services Index. Both should remain comfortably above 50, indicating continued business expansion. Hopefully, a happy new year begins.
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 Economists still expect the Fed to keep the Funds Rate at its super low level for the first few months of the new year. Things could change in the second half, with a strengthening economy or the threat of inflation. 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
Market Update
Last week saw the year finish on a high note for the housing market with Pending Home Sales for November coming in UP 3.5%, after this figure was expected to be down slightly for the month. This reading measures homes under contract, and therefore should point to an increase in closings in the January-February time frame.
The positive Pending Home Sales report was particularly welcome after Tuesday's Standard & Poor's/Case-Shiller Home Price Index for October. Their 20-City Composite Index registered a 0.8% price decline year-over-year. Some say this threatens a "double dip" in housing prices, an interesting observation now that the "double dip" recession threat has all but evaporated.
The negative talk ignored the facts that 4 of the 20 cities showed annual price GAINS and the index is still above its spring 2009 low. In addition, the Case-Shiller 10-City Index showed a year-over-year price gain. It's important to remember that real estate is local and these indexes average only 10 or 20 metro areas. Some analysts feel home prices have bottomed in most markets and a few intrepid observers are even predicting a strong comeback for housing in 2011!
Review of Last Week
UP TWO YEARS IN A ROW... Investors have been encouraged by recent signs of improvement in the economic situation. Not surprisingly, the stock markets closed out the year UP for the second year in a row. For 2010, the Dow Jones Industrial Average posted an 11% gain. The broader-based S&P 500 index ended UP 12.8%, and the Nasdaq Composite moved UP a hefty 16.9% from where it was 12 months ago. For the week, all three indexes were basically flat with light trading volumes.
Not all the economic signs were rosy, however, as Consumer Confidence for December dropped to 52.5 from its 54.1 level in November. This was also well below the consensus estimate. As covered above, the October Case-Shiller home price index had its disappointments as well, although November Pending Homes Sales numbers gave us hope about a boost in closings in the next month or two.
Other good news included the Chicago PMI index for December, unexpectedly UP well above estimates, reaching 68.6 versus November's 62.5. This indicates continued strong growth in manufacturing in that part of the country. Initial weekly jobless claims dropped below the 400,000 level, coming in way better than consensus forecasts, at 388,000. This was well under the prior week's 420,000 initial claims and continues the downward trend of the last few weeks. We're of course still not where we should be with jobs, although finally moving in the right direction.
For the week, the Dow ended up 5 points, at 11,578; the S&P 500 edged up a point, to 1,258; and the Nasdaq was off 0.5%, ending at 2,653. (Note: we've dropped the decimals and rounded the indexes to their nearest whole numbers.)
The bond market swung up and down like a yo-yo all week. But the FNMA 30-year 4.0% bond we watch ultimately finished UP 101 basis points, closing at $99.18. Average fixed-rate mortgage rates also ticked up, but stayed "incredibly low," according to Freddie Mac's weekly survey of conforming mortgages. Their chief economist observed that for the year, 30-year fixed mortgage rates reported "...the lowest annual average since 1955, when the average price of a home was $22,000." But with possible rate increases, people who want to buy or refinance should not waste time.
This Week’s Forecast
WHAT THE FED SAID AND EMPLOYERS DID... We start the new year by finding out Tuesday what the Fed said about the economic situation as recorded in the Minutes of their December 14 FOMC meeting. Subsequently, we'll find out what employers did about creating new jobs in Friday's December Employment Report. An increase of 132,000 jobs is expected, although that won't be enough to lower the unemployment rate, with new people coming into the labor force.
We'll also have a look at the health of US manufacturing in Monday's ISM Index and the non-manufacturing sector in Wednesday's ISM Services Index. Both should remain comfortably above 50, indicating continued business expansion. Hopefully, a happy new year begins.
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 Economists still expect the Fed to keep the Funds Rate at its super low level for the first few months of the new year. Things could change in the second half, with a strengthening economy or the threat of inflation. 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!
LOAN MODIFICATION SCAMS
LOAN MODIFICATION SCAMS
It is obvious that the scammers are very active right now. They have many ways to take advantage of desperate and distressed homeowners in today's real estate market. One of the best things a homeowner can do to protect him or herself from these scammers is to work with a licensed professional. Mortgage and real estate licensees are trained in how to help homeowners who face these very problems. As your Real Estate agent, please know that I am available for questions.
Here is a list of simple things homeowners can do to protect themselves:
Make sure that the loan modification company is • licensed with the Division of Real Estate.
Do not work with any individual or company that is not licensed.
Talk to your lender or servicer directly. Let your lender know your problems, and discuss ways you might resolve the issues
Never make your mortgage payment to a third party.
Do not pay an up-front fee. Do not pay any • fees until you receive a written offer from your lender or servicer for modified loan terms.
Do not stop making your mortgage payments. • Doing so will put you closer to foreclosure.
Do not sign a quit claim deed to another property.•
Do not sign any documents in blank. • Make sure your read what you sign.
If you think you are being scammed, file a complaint with the Division of Real Estate.
All "Betts" on Brian! The Only Realtor you Want!
It is obvious that the scammers are very active right now. They have many ways to take advantage of desperate and distressed homeowners in today's real estate market. One of the best things a homeowner can do to protect him or herself from these scammers is to work with a licensed professional. Mortgage and real estate licensees are trained in how to help homeowners who face these very problems. As your Real Estate agent, please know that I am available for questions.
Here is a list of simple things homeowners can do to protect themselves:
Make sure that the loan modification company is • licensed with the Division of Real Estate.
Do not work with any individual or company that is not licensed.
Talk to your lender or servicer directly. Let your lender know your problems, and discuss ways you might resolve the issues
Never make your mortgage payment to a third party.
Do not pay an up-front fee. Do not pay any • fees until you receive a written offer from your lender or servicer for modified loan terms.
Do not stop making your mortgage payments. • Doing so will put you closer to foreclosure.
Do not sign a quit claim deed to another property.•
Do not sign any documents in blank. • Make sure your read what you sign.
If you think you are being scammed, file a complaint with the Division of Real Estate.
All "Betts" on Brian! The Only Realtor you Want!
Utah Year End Review
GOOD NEWS for Utah as 2010 ends:
Utah Year End Review
Jobs Utah should add 16,500 jobs during 2011, according to Jim Wood, head of the Bureau of Economic and Business Research at the University of Utah. Utah suffered a loss of 72,000 jobs over the recent 22 month recession.
Utah has had positive job growth in each of the last six months, although the rate has been modest --between 1% and 2%. Furthermore, the report predicts that Utah should get back to its long-term average employment growth rate of 3% (37,000 new jobs per year) by 2013.
Population
The state of Utah has been the third fastest growing state in the nation, growing close to 24% in the past decade. That compares with the national rate of 9.7%. Utah’s growth has been helped by a comparatively resilient economy and one of the country’s highest birth rates.
Job Briefs
✦Adobe has picked its contractor for its new Lehi campus. Expect 1,000 new jobs with an average payof around $90,000 per years.
✦Chicago based Czarnowski Display Service Inc. is opening an office in the St. George area and will add 50 full-time employees at 150% of the Washington County average wage.
✦BYU has lifted its hiring freeze that has been in place for nearly two years, a sign that the economy is recovering.
✦Online retailer Overstock.com announced that the company will open a software development center in Provo early next year and will add 150 new jobs to the 1,500 the company already employs in the Beehive State.
✦Salt Lake Community College broke ground on a new $29MM 136,000 square foot classroom building at its Redwood Road campus near 4600 S.
✦Merit Medical continues work on its $45MM expansion in South Jordan. The expansion will accommodate 700 new jobs over the next several years.
✦A subsidiary of Rubbermaid is adding 50 new fulltime positions to its new manufacturing facility in Ogden.
✦Station Park in Farmington has broke ground. Harmons will be the grocery anchor. The stabilized value of the shopping center will be nearly $250MM. The project will include apartments (yet to be announced) near the Front Runner station.
All "Betts" on Brian! The Only Realtor you Want!
Utah Year End Review
Jobs Utah should add 16,500 jobs during 2011, according to Jim Wood, head of the Bureau of Economic and Business Research at the University of Utah. Utah suffered a loss of 72,000 jobs over the recent 22 month recession.
Utah has had positive job growth in each of the last six months, although the rate has been modest --between 1% and 2%. Furthermore, the report predicts that Utah should get back to its long-term average employment growth rate of 3% (37,000 new jobs per year) by 2013.
Population
The state of Utah has been the third fastest growing state in the nation, growing close to 24% in the past decade. That compares with the national rate of 9.7%. Utah’s growth has been helped by a comparatively resilient economy and one of the country’s highest birth rates.
Job Briefs
✦Adobe has picked its contractor for its new Lehi campus. Expect 1,000 new jobs with an average payof around $90,000 per years.
✦Chicago based Czarnowski Display Service Inc. is opening an office in the St. George area and will add 50 full-time employees at 150% of the Washington County average wage.
✦BYU has lifted its hiring freeze that has been in place for nearly two years, a sign that the economy is recovering.
✦Online retailer Overstock.com announced that the company will open a software development center in Provo early next year and will add 150 new jobs to the 1,500 the company already employs in the Beehive State.
✦Salt Lake Community College broke ground on a new $29MM 136,000 square foot classroom building at its Redwood Road campus near 4600 S.
✦Merit Medical continues work on its $45MM expansion in South Jordan. The expansion will accommodate 700 new jobs over the next several years.
✦A subsidiary of Rubbermaid is adding 50 new fulltime positions to its new manufacturing facility in Ogden.
✦Station Park in Farmington has broke ground. Harmons will be the grocery anchor. The stabilized value of the shopping center will be nearly $250MM. The project will include apartments (yet to be announced) near the Front Runner station.
All "Betts" on Brian! The Only Realtor you Want!
For the week of December 20, 2010
For the week of December 20, 2010
INFO THAT HITS US WHERE WE LIVE
Market Update
Last Thursday it was good to see that Housing Starts picked up for November, rising 3.9% for the month to an annual rate of 555,000 units. This beat expectations and was especially gratifying because all the gain came from a 6.9% increase in single-family starts. These have now been up three out of the last four months.
Multi-family starts were down for the fourth month in a row, but these are very volatile on a monthly basis. In fact, the 12-month moving average for multi-family starts is still trending higher, up 5.9% compared to a year ago. The demand for multi-unit residences should continue to grow, which is why some observers foresee a large rebound in multi-unit construction in the new few months. Although there are still excess housing inventories, they are falling quickly and experts expect them to drop further, even with a home building recovery.
Review of Last Week
THREE IN A ROW... Investors sent stocks higher for the third straight week on Wall Street. The markets weren't exactly on fire, as volumes were low, which is typical for this time of year, and investors remain guardedly optimistic, which has been their attitude since last month's elections. As happens so often, the week's festivities were driven by the economic headlines and there certainly were plenty to ponder.
The consumer appears to be showing up for the holidays, as retail sales went up 0.8% in November, up 1.2% excluding autos. Including revisions to September and October numbers, overall sales were up 1.5% for the month. Retail is now UP 7.7% over a year ago, and sales are up at a 12% annual rate for the past five months! On the worrisome side, the November Producer Price Index (PPI) showed wholesale inflation up 0.8%, although the Consumer Price Index (CPI) rose a benign 0.1%. Consumer prices are up 1.1% over a year ago, which is good, but wholesale prices are up 3.5% for the year, which isn't so good if you want to keep inflation in check and interest rates down.
The jobs recovery is key to the housing rebound, so it was good to see new unemployment claims falling again last week, to 420,000. This beat expectations and was the second lowest number this year for weekly claims, which have now fallen three times in the last four weeks. The Philadelphia Fed index showed manufacturing continues to grow in that region, as it was up nicely for December. Likewise, the Empire State index showed New York manufacturing coming back strong in December after last month's dip. November Industrial Production rose above expectations and capacity utilization showed factories at their highest volume levels since October 2008.
For the week, the Dow was UP 0.7%, to 11491.91; the S&P 500 was UP 0.3%, to 1243.91; and the Nasdaq was UP 0.2%, to 2642.97.
With investors feeling more upbeat about the economy, money flowed into stocks and out of the bonds that fund most mortgage loans. The FNMA 30-year 4.0% bond we watch ended down 78 basis points for the week, closing at $98.22. This inched mortgage rates higher once again. Freddie Mac's weekly survey of conforming mortgages had the average 30-year fixed-rate mortgage rate up for the fifth week in a row. Rates are still historically low, but people looking to purchase or refinance should be aware that the low-rate party may soon be over.
This Week’s Forecast
HOUSING, INFLATION AND THE OVERALL ECONOMY... This week we get to see how the economy is coming along in some key areas. We track the housing recovery with Wednesday's Existing Home Sales and Thursday's New Home Sales, both expected to be up a bit for November. Continuing the theme of a steady if slow recovery, the third estimate of GDP should show the overall economy growing at a 2.7% annual rate, up from the prior 2.5% estimate. Again, a slower rate of growth than economists would like to see, but growth nonetheless.
Thursday brings more inflation readings, with both Personal Spending and Core PCE Prices expected to remain under control. The final December reading on University of Michigan Consumer Sentiment may be up a small amount, while November Durable Goods Orders may be down a tad. The markets will be closed Friday.
Happy Holidays to you and yours during this joyous season!
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 policy statement from last week's FOMC meeting indicated the Fed is not yet convinced the economy is on solid ground. Analysts therefore expect the Fed Funds Rate to stay at its super low level for an "extended period." Inflation, or a stronger economic recovery, could of course start the rate back up. 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
Market Update
Last Thursday it was good to see that Housing Starts picked up for November, rising 3.9% for the month to an annual rate of 555,000 units. This beat expectations and was especially gratifying because all the gain came from a 6.9% increase in single-family starts. These have now been up three out of the last four months.
Multi-family starts were down for the fourth month in a row, but these are very volatile on a monthly basis. In fact, the 12-month moving average for multi-family starts is still trending higher, up 5.9% compared to a year ago. The demand for multi-unit residences should continue to grow, which is why some observers foresee a large rebound in multi-unit construction in the new few months. Although there are still excess housing inventories, they are falling quickly and experts expect them to drop further, even with a home building recovery.
Review of Last Week
THREE IN A ROW... Investors sent stocks higher for the third straight week on Wall Street. The markets weren't exactly on fire, as volumes were low, which is typical for this time of year, and investors remain guardedly optimistic, which has been their attitude since last month's elections. As happens so often, the week's festivities were driven by the economic headlines and there certainly were plenty to ponder.
The consumer appears to be showing up for the holidays, as retail sales went up 0.8% in November, up 1.2% excluding autos. Including revisions to September and October numbers, overall sales were up 1.5% for the month. Retail is now UP 7.7% over a year ago, and sales are up at a 12% annual rate for the past five months! On the worrisome side, the November Producer Price Index (PPI) showed wholesale inflation up 0.8%, although the Consumer Price Index (CPI) rose a benign 0.1%. Consumer prices are up 1.1% over a year ago, which is good, but wholesale prices are up 3.5% for the year, which isn't so good if you want to keep inflation in check and interest rates down.
The jobs recovery is key to the housing rebound, so it was good to see new unemployment claims falling again last week, to 420,000. This beat expectations and was the second lowest number this year for weekly claims, which have now fallen three times in the last four weeks. The Philadelphia Fed index showed manufacturing continues to grow in that region, as it was up nicely for December. Likewise, the Empire State index showed New York manufacturing coming back strong in December after last month's dip. November Industrial Production rose above expectations and capacity utilization showed factories at their highest volume levels since October 2008.
For the week, the Dow was UP 0.7%, to 11491.91; the S&P 500 was UP 0.3%, to 1243.91; and the Nasdaq was UP 0.2%, to 2642.97.
With investors feeling more upbeat about the economy, money flowed into stocks and out of the bonds that fund most mortgage loans. The FNMA 30-year 4.0% bond we watch ended down 78 basis points for the week, closing at $98.22. This inched mortgage rates higher once again. Freddie Mac's weekly survey of conforming mortgages had the average 30-year fixed-rate mortgage rate up for the fifth week in a row. Rates are still historically low, but people looking to purchase or refinance should be aware that the low-rate party may soon be over.
This Week’s Forecast
HOUSING, INFLATION AND THE OVERALL ECONOMY... This week we get to see how the economy is coming along in some key areas. We track the housing recovery with Wednesday's Existing Home Sales and Thursday's New Home Sales, both expected to be up a bit for November. Continuing the theme of a steady if slow recovery, the third estimate of GDP should show the overall economy growing at a 2.7% annual rate, up from the prior 2.5% estimate. Again, a slower rate of growth than economists would like to see, but growth nonetheless.
Thursday brings more inflation readings, with both Personal Spending and Core PCE Prices expected to remain under control. The final December reading on University of Michigan Consumer Sentiment may be up a small amount, while November Durable Goods Orders may be down a tad. The markets will be closed Friday.
Happy Holidays to you and yours during this joyous season!
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 policy statement from last week's FOMC meeting indicated the Fed is not yet convinced the economy is on solid ground. Analysts therefore expect the Fed Funds Rate to stay at its super low level for an "extended period." Inflation, or a stronger economic recovery, could of course start the rate back up. 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!
For the week of December 13, 2010
For the week of December 13, 2010
INFO THAT HITS US WHERE WE LIVE
Market Update
There wasn't a ton of news impacting the housing market last week, but we did get more talk about the move up in mortgage rates. Freddie Mac's weekly survey of conforming mortgages showed the average rate on a 30-year fixed-rate mortgage back at the level it was last June. That still puts mortgage rates below where they were a year ago when everyone was happy to get in on those bargains. So none of this is bad news in the absolute sense but the trend should be noted. People who want to buy or refinance should not drag their feet!
It was encouraging to see new construction spending UP in October, now two months in a row, and the gain mostly came from a rise in residential construction. The U.S. Census Bureau put residential construction UP 2.4% in October to an annual rate of $240.3 billion. Though headed in the right direction, residential construction is still down 8% from a year ago.
Review of Last Week
DRIFTING UP... The Dow moved less than 20 points five days in a row, then finished the week with a 40-point gain. With this kind of flat performance, observers feel the stock market is drifting, rather than surging, higher, yet higher it goes. The S&P 500 in fact ended the week at a two-year high, as investors clearly are feeling a little more upbeat about the economy.
The centerpiece of the week for many on Wall Street was the tax compromise plan the President arrived at with Republican leaders. Some Congressional Democrats were not happy about the agreement, but investors believe a bill will be passed before January 1 that keeps lower tax rates in place for all taxpayers for the next two years. This is viewed by many as helpful to speeding up the recovery. An extension of unemployment benefits was tied into the deal, which will help those looking for work while the economy heals.
Other hopeful signs included University of Michigan Consumer Sentiment beating expectations, showing people feel better about the economy as of early December. October exports rose to their highest levels in over two years, as the U.S. trade deficit surprisingly fell better than 13%. Exports to China grew almost 30%, narrowing our trade gap with that country by 8.3%. Additional positive news: the government sold its remaining stake in Citigroup; AIG said it would pay back the final $20 billion it owes the New York Fed; and GE announced it will increase its quarterly dividend by 17%.
For the week, the Dow was UP 0.2%, to 11410.32; the S&P 500 was UP 1.3%, to 1240.40; and the Nasdaq was UP 1.8%, to 2637.54.
Bonds got hammered most of the week as stocks edged up. The FNMA 30-year 4.0% bond we watch ended down 120 basis points for the week, closing at $99.00. Yields move opposite to prices, so they went higher and that inched mortgage rates up for another week. As reported above, national average rates for fixed-rate mortgages went north a tad, which isn't horrible in itself, since rates are still at historically low levels.
This Week’s Forecast
LOTS MORE THAN THE FED... We have another Fed meeting on Tuesday and no one expects the rate to move up, although the Fed's policy statement will be carefully read as usual. The central bank's economic views certainly bear watching, but there's lots more in store. Tuesday's Producer Price Index gives us wholesale inflation and Wednesday's Consumer Price Index measures the consumer version, and they're both expected to remain in check. Tuesday's Retail Sales numbers should show a continued, though modest, growth in consumer spending.
Manufacturing gauges are forecast to improve slightly, although the Philadelphia region is expected to decline. Most important to us, November Housing Starts and Building Permits will come in on Thursday and observers expect more activity from builders, although we're still not back to pre-downturn levels.
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 Virtually all experts expect no hike in the Fed Funds Rate at this week's FOMC meeting. The current super low rate level is forecast to hold through the first half of 2011. But the threat of inflation or a speeding up of the economic recovery could start the rate back up. 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
Market Update
There wasn't a ton of news impacting the housing market last week, but we did get more talk about the move up in mortgage rates. Freddie Mac's weekly survey of conforming mortgages showed the average rate on a 30-year fixed-rate mortgage back at the level it was last June. That still puts mortgage rates below where they were a year ago when everyone was happy to get in on those bargains. So none of this is bad news in the absolute sense but the trend should be noted. People who want to buy or refinance should not drag their feet!
It was encouraging to see new construction spending UP in October, now two months in a row, and the gain mostly came from a rise in residential construction. The U.S. Census Bureau put residential construction UP 2.4% in October to an annual rate of $240.3 billion. Though headed in the right direction, residential construction is still down 8% from a year ago.
Review of Last Week
DRIFTING UP... The Dow moved less than 20 points five days in a row, then finished the week with a 40-point gain. With this kind of flat performance, observers feel the stock market is drifting, rather than surging, higher, yet higher it goes. The S&P 500 in fact ended the week at a two-year high, as investors clearly are feeling a little more upbeat about the economy.
The centerpiece of the week for many on Wall Street was the tax compromise plan the President arrived at with Republican leaders. Some Congressional Democrats were not happy about the agreement, but investors believe a bill will be passed before January 1 that keeps lower tax rates in place for all taxpayers for the next two years. This is viewed by many as helpful to speeding up the recovery. An extension of unemployment benefits was tied into the deal, which will help those looking for work while the economy heals.
Other hopeful signs included University of Michigan Consumer Sentiment beating expectations, showing people feel better about the economy as of early December. October exports rose to their highest levels in over two years, as the U.S. trade deficit surprisingly fell better than 13%. Exports to China grew almost 30%, narrowing our trade gap with that country by 8.3%. Additional positive news: the government sold its remaining stake in Citigroup; AIG said it would pay back the final $20 billion it owes the New York Fed; and GE announced it will increase its quarterly dividend by 17%.
For the week, the Dow was UP 0.2%, to 11410.32; the S&P 500 was UP 1.3%, to 1240.40; and the Nasdaq was UP 1.8%, to 2637.54.
Bonds got hammered most of the week as stocks edged up. The FNMA 30-year 4.0% bond we watch ended down 120 basis points for the week, closing at $99.00. Yields move opposite to prices, so they went higher and that inched mortgage rates up for another week. As reported above, national average rates for fixed-rate mortgages went north a tad, which isn't horrible in itself, since rates are still at historically low levels.
This Week’s Forecast
LOTS MORE THAN THE FED... We have another Fed meeting on Tuesday and no one expects the rate to move up, although the Fed's policy statement will be carefully read as usual. The central bank's economic views certainly bear watching, but there's lots more in store. Tuesday's Producer Price Index gives us wholesale inflation and Wednesday's Consumer Price Index measures the consumer version, and they're both expected to remain in check. Tuesday's Retail Sales numbers should show a continued, though modest, growth in consumer spending.
Manufacturing gauges are forecast to improve slightly, although the Philadelphia region is expected to decline. Most important to us, November Housing Starts and Building Permits will come in on Thursday and observers expect more activity from builders, although we're still not back to pre-downturn levels.
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 Virtually all experts expect no hike in the Fed Funds Rate at this week's FOMC meeting. The current super low rate level is forecast to hold through the first half of 2011. But the threat of inflation or a speeding up of the economic recovery could start the rate back up. 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 Jan. 17 2011!
"Good ideas are not adopted automatically. They must be driven into
practice with courageous patience."
-- Hyman Rickover, Admiral
"The best way to make your dreams come true is to wake up."
-- Paul Valery, French Poet
"Don't argue for other people's weaknesses. Don't argue for your own. When you make a mistake, admit it, correct it, and learn from it immediately. "
-- Stephen R. Covey, Author and Speaker
"Men are anxious to improve their circumstances, but are unwilling to
improve themselves; they therefore remain bound."
-- James Allen
"Do not fear going forward slowly; fear only to stand still."
-- Chinese Proverb
All "Betts" on Brian! The Only Realtor you Want!
practice with courageous patience."
-- Hyman Rickover, Admiral
"The best way to make your dreams come true is to wake up."
-- Paul Valery, French Poet
"Don't argue for other people's weaknesses. Don't argue for your own. When you make a mistake, admit it, correct it, and learn from it immediately. "
-- Stephen R. Covey, Author and Speaker
"Men are anxious to improve their circumstances, but are unwilling to
improve themselves; they therefore remain bound."
-- James Allen
"Do not fear going forward slowly; fear only to stand still."
-- Chinese Proverb
All "Betts" on Brian! The Only Realtor you Want!
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