My life as a Realtor

Daily Quotes January 4, 2012!

2012-01-04T14:22:00.002-07:00

"Dig the well before you are thirsty."
Chinese Proverb

"Progress always involves risks. You can't steal second base and keep your foot on first."
Frederick Wilcox, writer

"What lies behind us, and what lies before us, are tiny matters compared to what lies within us."
Ralph Waldo Emerson, Poet

"The entrepreneur always searches for change, responds to it, and exploits it as an opportunity."
Peter Drucker, Businessman

"We make a living by what we get. We make a life by what we give."
Winston Churchill, British prime minister

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes November 16, 2011!

2011-11-16T13:03:00.001-07:00

"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

All "Betts" on Brian! The Only Realtor you Want!

Daily Quotes November 14, 2011!

2011-11-14T12:04:00.003-07:00

"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

All "Betts" on Brian! The Only Realtor you Want!

Daily Quotes November 8, 2011!

2011-11-08T09:40:00.002-07:00

"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

All "Betts" on Brian! The Only Realtor you Want!

Daily Quotes November 7, 2011!

2011-11-07T08:43:00.003-07:00

"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

All "Betts" on Brian! The Only Realtor you Want!

Daily Quotes November 4, 2011!

2011-11-04T10:30:00.002-06:00

"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

All "Betts" on Brian! The Only Realtor you Want!

Daily Quotes November 1, 2011!

2011-11-01T10:52:00.002-06:00

"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

All "Betts" on Brian! The Only Realtor you Want!

Daily Quotes October 31, 2011!

2011-10-31T11:03:00.003-06:00

"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

All "Betts" on Brian! The Only realtor you Want!

Daily Quotes October 28, 2011!

2011-10-28T19:12:00.003-06:00

"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

All "Betts" on Brian! The Only Realtor you Want!

History of the Jack-O’-Lantern

2011-10-28T19:03:00.002-06:00

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!!!

All "Betts" on Brian! The Only Realtor you Want!

Daily Quotes October 27, 2011!

2011-10-27T08:48:00.003-06:00

"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

All "Betts" on Brian! The Only Realtor you Want!

Daily Quotes October 26, 2011!

2011-10-26T08:34:00.002-06:00

"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

All "Betts" on Brian! The Only realtor you want!

Daily Quotes October 25, 2011!

2011-10-25T08:34:00.003-06:00

"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

All "Betts" on Brian! The only Realtor you want!

Daily Quotes October 24, 2011!

2011-10-24T09:49:00.002-06:00

"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

All "Betts" on Brian! The only Realtor you want!

Daily Quotes April 25, 2011!

2011-04-25T07:05:00.004-06:00

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

All "Betts" on Brian! The only Realtor you want!

Daily Quotes April 20, 2011!

2011-04-20T06:35:00.002-06:00

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

All "Betts" on Brian! The Only Realtor you Want!

Daily Quotes April 15, 2011!

2011-04-15T06:47:00.003-06:00

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

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes April 11, 2011!

2011-04-11T06:47:00.001-06:00

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

All "Betts" on Brian! The Only Realtor you Want!

Daily Quotes April 4, 2011!

2011-04-04T06:32:00.002-06:00

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

All "Betts" on Brian! The Only Realtor you Want!

Daily Quotes March 30, 2011!

2011-03-30T06:49:00.003-06:00

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

All "Betts" on Brian! The Only Realtor you Want!

Daily Quotes March 28, 2011!

2011-03-28T06:45:00.002-06:00

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

All "Betts" on Brian! The Only Realtor you Want!

Daily Quotes March 21, 2011!

2011-03-21T07:17:00.004-06:00

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!

Daily Quotes March 17, 2011!

2011-03-17T07:18:00.001-06:00

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!

Daily Quotes March 9, 2011!

2011-03-09T07:27:00.003-07:00

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!

For the week of February 28, 2011

2011-03-04T16:25:00.002-07:00

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!

10 Reasons Renters Should Be Buyers

2011-03-04T16:18:00.003-07:00

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!

For the week of February 21, 2011

2011-03-04T16:11:00.001-07:00

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!

For the week of February 7, 2011

2011-03-04T16:00:00.002-07:00

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!

Daily Quotes March 4, 2011!

2011-03-04T15:57:00.002-07:00

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!

Daily Quotes Feb. 3 2011!

2011-02-03T07:05:00.003-07:00

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!

LOAN MODIFICATION SCAMS

2011-02-02T11:50:00.001-07:00

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!

For the week of January 24, 2011

2011-02-02T11:47:00.002-07:00

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!

Daily Quotes Feb. 2 2011!

2011-02-02T06:53:00.003-07:00

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!

Daily Quotes Feb. 1 2011!

2011-02-01T06:34:00.001-07:00

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!

Daily Quotes Jan. 31 2011!

2011-01-31T11:13:00.002-07:00

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!

Daily Quotes Jan. 19 2011!

2011-01-19T13:28:00.002-07:00

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!

Spring Is approaching!

2011-01-17T15:47:00.001-07:00

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

2011-01-17T15:45:00.001-07:00

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!

An Update on the Utah Economy

2011-01-17T15:43:00.001-07:00

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!

For the week of January 3, 2011

2011-01-17T15:39:00.001-07:00

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!

LOAN MODIFICATION SCAMS

2011-01-17T15:36:00.000-07:00

Utah Year End Review

2011-01-17T15:34:00.000-07:00

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!

For the week of December 20, 2010

2011-01-17T15:02:00.002-07:00

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!

For the week of December 13, 2010

2011-01-17T14:55:00.001-07:00

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!

Daily Quotes Jan. 17 2011!

2011-01-17T14:51:00.002-07:00

"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!

Daily Quotes Dec. 10 2010!

2010-12-10T08:52:00.002-07:00

"You can't do it unless you can imagine it."
-- George Lucas, director

"Courage is rarely reckless or foolish. Courage usually involves a
highly realistic estimate of the odds that must be faced."
-- Margaret Truman, author

"Do not pray for tasks equal to your powers. Pray for powers equal to
your tasks."
-- Phillips Brooks, clergyman

"Trouble is only opportunity in work clothes."
-- Henry Kaiser, industrialist

"I learned that good judgment comes from experience and that experience
grows out of mistakes."
-- Omar Bradley, general

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes Dec. 7 2010!

2010-12-07T07:35:00.002-07:00

Daily Quotes Dec. 7 2010!

"Problems should be solved on the spot, as soon as they arise. No
frontline employee should have to wait for a supervisor's permission."
-- Jan Carlzon, airline executive

"Knowledge has to be improved, challenged and increased constantly, or it vanishes."
-- Peter Drucker, management expert

"Dreams never hurt anybody if he keeps working right behind the dream to
make as much of it become real as he can."
-- Frank Woolworth, Entrepreneur

"Wisdom is knowing what to do; virtue is doing it."
-- David Jordan, scientist

"You are not beaten until you admit it."
-- George Patton, general

All "Betts" on Brain! The Only Realtor you want!

For the week of November 29, 2010

2010-12-06T13:53:00.002-07:00

For the week of November 29, 2010

INFO THAT HITS US WHERE WE LIVE

Market Update

Last week was short, but still managed to squeeze in two reports on our favorite topic. Wednesday's New Home Sales for October were down 8.1% from the month before, at an annual rate of 283,000. A slight upward move in these numbers had been forecast. The inventory of new homes edged up to 8.6 months, higher than the 6 month's supply level everyone would like to see.

But Tuesday, October Existing Home Sales came in with a way smaller decline – down just 2.2% from September and in line with expectations. The National Association of Realtors (NAR) reported the annual sales rate at 4.43 million homes. Actual sales, year to date, are 4.15 million, down 2.9% from the same period a year ago. The NAR's chief economist feels that sales activity appears to be "off the bottom and attempting to settle into normal, sustainable levels." He expects steady improvement to levels "above 5 million by spring of next year." The median existing home price edged down a little to $170,500 and is down only 0.9% from a year ago. The months' supply of existing homes dipped to 10.5 from September's 10.6 reading, as inventories declined overall.

Review of Last Week

A TURKEY FOR WALL STREET... Unfortunately, Thanksgiving week turned out to be a turkey for stock market investors. Stock prices went down following renewed concerns over European debt and North and South Korea lobbing shells at each other across their border. Even though one trading day registered a 150-point gain thanks to some encouraging economic news, three out of the four days were downers, so the Dow and the S&P 500 ended lower for the week, while the Nasdaq eked out a miniscule gain.

With European debt, there are once again fears of contagion, which negatively affected stock markets there and around the world. While Ireland works its bailout with the European Union and the International Monetary Fund, worries about Portugal and Spain re-surface. On the home front, a negative Durable Goods Orders reading for October was offset by an upwardly revised 5.0% gain for September. The fall-off in New Home Sales was similarly balanced by Existing Home Sales coming in as expected, covered above.

Encouraging indicators also included Q3 GDP (gross domestic product) getting an upward revision from its initial estimate, to a 2.5% annual growth rate. Improvements in consumer spending and exports drove the solid move up. Initial jobless claims held at under 450,000 for the third week in a row, now down to 407,000. Finally, University of Michigan Consumer Sentiment surged to 71.6, more than two points above consensus expectations.

For the week, the Dow was down 1.0%, to 11092.00; the S&P 500 was down 0.9%, to 1189.40; but the Nasdaq was UP 0.7%, to 2534.56.

The bond market benefited from the flight to safety caused by events in Europe and Korea, but there was enough good economic news to put bond prices under pressure. The FNMA 30-year 4.0% bond we watch ended down 8 basis points for the week, closing at $101.09. National average rates for fixed-rate mortgages barely moved last week, according to Freddie Mac's survey of conforming mortgage rates. They are still at historically low levels.

This Week’s Forecast

MORE JOBS, SAME UNEMPLOYMENT RATE... The month ends tomorrow, so Friday brings the
November Employment Report and everyone will be looking for signs of hope on the jobs front. Experts predict we'll have another monthly gain in payrolls, although the 130,000 jobs predicted won't be enough to move the unemployment rate down. A jobs recovery is key to the housing recovery, but we're not quite there.

Thursday's Pending Home Sales report for October will give us an idea about existing home sales a couple of months out. No one expects a surge just yet. Manufacturing, however, is forecast to continue its steady expansion, with both Chicago PMI and the ISM Index well north of 50. The ISM Services read also shows growth in the nonmanufacturing sector. Observers are expecting a slight hike in November Consumer Confidence, always a good thing.

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 expect the Fed Funds Rate to remain low while the Fed continues its $600 billion bond buying program through the first half of next year. A surge in inflation or in the economic recovery could of course change that. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.

All "Betts" on Brian! The Only Realtor you want!

Last Week in the News November 29, 2010

2010-12-06T13:51:00.001-07:00

Last Week in the News November 29, 2010

Retail sales fell 0.6% for the week ending November 20, according to the ICSC-Goldman Sachs index. On a year-over-year basis, retailers saw sales increase 2.8%.

Gross domestic product — the total output of goods and services produced in the U.S. — increased at an annual rate of 2.5% in the third quarter of 2010. This follows a 1.7% pace of growth in the second quarter of 2010.

Existing home sales fell 2.2% in October to a seasonally adjusted annual rate of 4.43 million units from 4.53 million units in September. The inventory of unsold homes on the market declined 3.4% to 3.86 million, a 10.5-month supply at the current sales pace, down from a revised 10.6-month supply in September.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending November 19 rose 2.1%. Refinancing applications decreased 1%. Purchase volume rose 14.4%.

Orders for durable goods — items expected to last three or more years — fell 3.3% in October after increasing an upwardly revised 5% in September. Excluding volatile transportation-related goods, orders posted a monthly decrease of 2.7%.

New home sales fell 8.1% in October to a seasonally adjusted annual rate of 283,000 units from a rate of 307,000 units in September. Economists had expected a pace of 314,000 units.

Initial claims for unemployment benefits fell by 34,000 to 407,000 for the week ending November 20. That's the lowest level since July 2008. Continuing claims for the week ending November 13 fell by 142,000 to 4.18 million.

Upcoming on the economic calendar are reports on the housing price index on November 30, construction spending on December 1 and pending home sales on December 2.

All "Betts" on Brian! The Only Relator you want!

For the week of November 22, 2010

2010-12-06T13:48:00.002-07:00

For the week of November 22, 2010

INFO THAT HITS US WHERE WE LIVE

Market Update

The Commerce Department reported last Wednesday that Housing Starts dropped 11.7% in October. This put them at a seasonally adjusted annual rate of 519,000, their lowest level in 18 months. But most of the fall off came from a 43.5% decline in multifamily construction, a volatile part of the market. Single-family building, accounting for more than 80% of all starts, was off just 1.1%, to 436,000 units. And September single-family starts were revised UP to a 2.1% gain. Meanwhile, Building Permits, which reflect builders' views of the future, were UP 0.5% to 550,000, another hopeful sign.

National average mortgage rates edged up in both Freddie Mac and Mortgage Bankers Association (MBA) weekly reports. The MBA felt rates rose because of "stronger economic data and lingering uncertainty regarding the structure and impact of the Fed's QE2 program." This Fed plan to buy $600 billion in bonds in a second round of quantitative easing was supposed to push rates down, stimulating the economy by making borrowing more affordable. But some investors fear QE2 will spark inflation, which pushes mortgage bond prices down and mortgage rates up. People looking to buy or refinance should probably not drag their feet waiting for lower rates that may never happen.

Review of Last Week

FLAT... The week on Wall Street saw a big drop in stock prices Tuesday, followed by a big gain on Thursday, but when all was said and done, the week ended virtually flat for all three market indexes. This, however, was a big improvement over the prior week's big declines for all the indexes.

Negative influences on the proceedings included the drop in Housing Starts covered above, along with the unexpected rise in mortgage rates after the start of the Fed's bond buying program. But once you got past those items, you had to go overseas to find more downers, which were basically continuations of last week's concerns. Investors don't like Chinese inflation threatening a rise in interest rates over there, or the increasing possibility of a bailout for the Irish banks.

But back over here, we did have some goodies going on. Retail sales were UP 1.2% in October, following a September gain that was upwardly revised to 0.7%. Could other positive economic surprises be on the way? Inflation came in tame, with the Consumer Price Index up just 0.2% for October and Core CPI up only 0.6% year-over-year, the smallest inflation increase in the index's history, dating back to 1957! Initial jobless claims held at under 450,000 for the second week in a row, still too high but showing that the labor market is better than it's been. The General Motors IPO gave back over $13 billion of the money taxpayers put in to prevent a GM bankruptcy.

For the week, the Dow was up just 0.1%, to 11203.55; the S&P 500 was flat, up only a fraction of a point, to 1199.73; and the Nasdaq was also flat, down a fraction of a point, to 2518.12.

The bond market had an up and down week of it, with prices under pressure on some issues at the end. The FNMA 30-year 4.0% bond we watch ended down 89 basis points for the week, closing at $101.17. This downward action in mortgage bond prices sent national average rates for fixed-rate mortgages up a tad for the week, as mentioned above.

This Week’s Forecast

TWO PACKED DAYS... Thanksgiving shortens the week, so a slew of economic reports get packed into Tuesday and Wednesday. We start with Second Estimate Q3 GDP, expected to edge up from the preliminary reading. Existing Home Sales for October should show a slight drop in the annual rate. Also Tuesday, the Minutes of the FOMC meeting of the Fed on November 3, could give more insight into the economic recovery.

Wednesday kicks off with Core PCE Prices, expected to inch up a tad, but still within the Fed's comfort zone for inflation. No need for them to curtail their QE2 bond-buying! Durable Goods Orders are forecast down a little for October, while Initial Unemployment Claims for the week should remain at their currently lower levels. Happily, New Home Sales for October are projected up a tad and let's hope the experts have that right.... Happy Thanksgiving!

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 last week's CPI readings showing inflation very mild indeed, economists expect the Fed Funds Rate to stay low as the Fed continues its $600 billion bond buying program through the first half of next year. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.

All "Betts' on Brian! The Ony Realtor you want!

Last Week in the News November 22, 2010

2010-12-06T13:44:00.001-07:00

Last Week in the News November 22, 2010

Retail sales rose 1.2% in October after an upwardly revised 0.7% increase in September. It was the largest increase in seven months. Economists had anticipated retail sales to rise 0.7% in October.

Total business inventories rose 0.9% in September to $1.4 trillion, the highest level since March 2009. Total business sales rose 0.5% in September after a 0.3% increase in August.

The producer price index, which tracks wholesale price inflation, rose 0.4% in October, matching a 0.4% increase in September. Core prices — excluding food and fuel — fell 0.6% in October, the most since July 2006. For the year, seasonally adjusted wholesale prices are up 4.3%.

Industrial production at the nation's factories, mines and utilities was unchanged in October, following a revised 0.1% increase in September. Economists had anticipated a gain of 0.3%. Capacity utilization was unchanged at 74.8% in October.

Consumer prices rose a seasonally adjusted 0.2% in October, following a 0.1% increase in September. For the year, seasonally adjusted consumer prices are up 1.2%.

The combined construction of new single-family homes and apartments in October fell 11.7% to a seasonally adjusted annual rate of 519,000 units. Single-family starts fell 1.1%. Multifamily starts dropped 43.5%. Applications for new building permits, seen as an indicator of future activity, rose 0.5% to an annual rate of 550,000 units.

Initial claims for unemployment benefits rose by 2,000 to 439,000 for the week ending November 13. Continuing claims for the week ending November 6 fell by 48,000 to 4.295 million, the lowest level since the recovery began.

Upcoming on the economic calendar are reports on existing home sales on November 23 and new home sales on November 24.

All "Betts" on Brian! The Only Relator you want!

Daily Quotes Dec. 6 2010!

2010-12-06T13:40:00.001-07:00

"Small opportunities are often the beginning of great enterprises."
-- Demosthenes, statesman

"The successful man is the one who had the chance and took it."
-- Roger Babson, executive

"We can learn from past failures and mistakes, but we shouldn't get stuck there. We can keep future goals in mind, but we shouldn't get stuck there, either. The only way to reach our potential is to focus on what we must do now - this moment, this day - to perform effectively and win."
-- Joe Torre

"All men who deliberate on controversial matters should do it free of
hate, friendship, anger and pity."
-- Sallust, historian

"Instead of comparing our lot with that of those who are more fortunate
than we are, we should compare it with the lot of the great majority of
our fellow men. It then appears that we are among the privileged."
-- Helen Keller, lecturer

All "Betts" on Brian! The Only Relator you want!

Daily Quotes Dec. 1 2010!

2010-12-01T13:15:00.002-07:00

"Only by coming to grips with difficulty can you realize yor full potential."
-- Charles de Gaulle, president of France

"Know what you want to do, hold the thought firmly and do every day what should be done, and every sunset will see you that much nearer the goal."
-- Elbert Hubbard, publisher

"Life just doesn't hand you things. You have to get out there and make
things happen. That's the exciting part."
-- Emeril Lagasse, chef

"The virtue you would like to have, assume it is already yours,
appropriate it, enter into the part and live the character just as the
great actor is absorbed in... the part he plays."
-- Ralph Waldo Emerson, poet

"Small opportunities are often the beginning of great enterprises."
-- Demosthenes, statesman

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes Nov. 19 2010!

2010-11-19T06:55:00.002-07:00

Daily Quotes Nov. 19 2010!

"Don't say you don't have enough time. You have exactly the same number
of hours per day that were given to Helen Keller, Louis Pasteur,
Michelangelo, Leonardo da Vinci, Thomas Jefferson and Albert Einstein."
-- Jackson Brown Jr., writer

"Someone might have a germ of talent, but 90% of it is discipline and
how you practice it, what you do with it. Instinct won't carry you
through the entire journey. It's what you do in the moments between
inspiration."
-- Cate Blanchett, actress

"One of the things I learned the hard way was that it doesn't pay to get
discouraged. Keeping busy and making optimism a way of life can restore
your faith in yourself."
-- Lucille Ball, actress

"The past cannot be changed. The future is yet in your power. "
-- Hugh White, senator

"Action is the real measure of intelligence."
-- Napolean Hill, author

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes Nov. 18 2010!

2010-11-18T06:51:00.001-07:00

Daily Quotes Nov. 18 2010!

"Happiness is only a byproduct of successful living."
-- Austen Riggs, psychiatrist

"The key to successful leadership today is influence, not authority."
-- Kenneth Blanchard, writer

"You can't do it unless you can imagine it."
-- George Lucas, director

"All that is necessary to break the spell of inertia and frustration is
this: Act as if it were impossible to fail."
-- Dorothea Brande, writer

"Without courage, all other virtues lose their meaning."
-- Winston Churchill, British prime minister

All "Betts" on Brian! The Only Realtor you want!

For the week of November 15, 2010

2010-11-16T12:12:00.001-07:00

For the week of November 15, 2010

INFO THAT HITS US WHERE WE LIVE

Market Update

The National Association of Realtors (NAR) reported that home prices stayed essentially flat in the third quarter compared to the same time frame a year ago. This price stabilization is encouraging, given that sales of existing homes in the period did drop compared to both the prior quarter this year and to the same quarter a year ago. Of course, both those time periods saw buyers rushing in to take advantage of the federal tax credits.

On the mortgage front, national average mortgage rates dipped again according to Freddie Mac's weekly survey. This was considered by most experts to be the result of the Federal Reserve's recent announcement of their second round of "quantitative easing," dubbed "QE2." This is the plan in which the Fed will buy up to $600 billion in Treasuries from now till the end of June next year. Not surprisingly, mortgage applications spiked up 5.8% for the week for both purchase and refinance loans, according to the Mortgage Bankers Association.

Review of Last Week

COULDN'T MAKE IT SIX... The broadly based S&P 500 stock market index was up five weeks in a row, but just couldn't score that sixth up week. In sympathy, the Dow and the Nasdaq indexes also dropped for the week as Wall Street investors passed over some of the positive economic reports, preferring instead to dwell on the negative news.

Things to worry about now have an international flavor, beginning with, once again, guess what, European sovereign debt. This time the speculation was that Ireland couldn't afford to bail out its financial sector, so the European Union might have to step in. Another continent away, there were fears China will raise its interest rates to tame its growing inflation. Here in the U.S. we had tech bellwether Cisco trimming profit projections for the rest of its fiscal year.

Meanwhile, those sensing a quickening of the pace of recovery latched onto news of September's shrinking trade deficit, which featured a $0.5 billion increase in exports, always a nice thing to see. Best of all was the report that new unemployment claims dropped 24,000 for the week, to 435,000. This is the first weekly reading for jobless claims since the recession began that was below 440,000, not using any statistical or seasonal biases to get there. Some analysts saw this drop in initial claims as an encouraging sign that hiring could soon pick up.

For the week, the Dow was down 2.2%, to 11192.58; the S&P 500 was also down 2.2%, to 1199.21; and the Nasdaq dropped 2.4%, to 2518.21.

The week in the bond market closed with prices under pressure. Most observers put this to rising Chinese inflation because no matter where it originates, inflation drives bond prices down. The FNMA 30-year 4.0% bond we watch ended down 113 basis points for the week, closing at $102.06.
Nonetheless, as mentioned above, national average rates for fixed-rate mortgages hit historic lows, according to Freddie Mac's weekly survey of conforming loans.

This Week’s Forecast

A BIT OF EVERYTHING... In contrast to last week, we get wall-to-wall economic reports this time around. Monday's October Retail Sales are expected to reveal a slight increase in the consumer's participation in the recovery. We'll get manufacturing in the New York region on Monday (expected down) and in the Philadelphia region on Friday (expected up) with Industrial Production and Capacity Utilization (both up a tad) in between. Inflation is forecast up a trifle but well under control in both Wednesday's Consumer Price Index (CPI) and Tuesday's Producer Price Index (PPI).

Also on Wednesday, we'll see how home builders were feeling in October, with Housing Starts and Building Permits expected to remain at their modest levels. Thursday's Leading Economic Indicators (LEI) Index is forecast to show the recovery still slowly inching forward.

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 Fed's $600 billion worth of Treasury purchases are slated to continue through the first half of 2011. Experts say the Fed Funds Rate should stay at its rock bottom level during that time, as long as inflation remains tame. 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 Nov. 16 2010!

2010-11-16T12:09:00.001-07:00

Daily Quotes Nov. 16 2010!

"My grandfather once told me that there were two kinds of people: those
who do the work and those who take the credit. He told me to try to be
in the first group; there was much less competition."
-- Indira Gandhi, Indian prime minister

"Perseverance is failing 19 times and succeeding the 20th."
-- Julie Andrews, actress

"You can't do it unless you can imagine it."
-- George Lucas, director

"Difficulties are meant to rouse, not discourage. The human spirit is to
grow strong by conflict."
-- William Channing, theologian

"The most dangerous question a prospect or customer asks is "Why should
I?" And he may ask it more than once... The product and its
communication stream must continue to provide him with both rational and
emotional answers."
-- Lester Wunderman, marketing pioneer

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes Nov. 12 2010!

2010-11-12T06:17:00.002-07:00

Daily Quotes Nov. 12 2010!

"No matter how good an idea sounds, test it first. "
-- Henry Bloch, H&R Block co-founder

"To some degree, you control your life by controlling your time. "
-- Conrad Hilton, hotel executive

"The hours we pass with happy prospects in view are more pleasing than
those crowded with fruition."
-- Oliver Goldsmith, writer

"Every memorable act in the world is a triumph of enthusiasm. Nothing
great was ever achieved without it because it gives any challenge or any
occupation, no matter how frightening or difficult, a new meaning.
Without enthusiasm you are doomed to a life of mediocrity but with it
you can accomplish miracles."
-- Og Mandion

"Being smart is an elusive concept. There's a certain sharpness, an
ability to absorb new facts, to ask an insightful question or relate to
domains that may not seem connected at first."
-- Bill Gates, Microsoft co-founder

All "Betts" on Brian! The Only Relator you want!

For the week of November 8, 2010

2010-11-10T14:22:00.001-07:00

For the week of November 8, 2010

INFO THAT HITS US WHERE WE LIVE

Market Update

Last Friday the National Association of Realtors (NAR) reported that their gauge of Pending Home Sales dropped 1.8% in September from an upwardly revised August reading. The pending sales index reflects signed contracts. Since it typically takes a few months to get from contract to closing, this reading forecasts actual existing home sales toward the end of this year.

The NAR's chief economist made an insightful point: "We've added 30 million people to the U.S. population over the past ten years, but sales are where they were in 2000, so there appears to be a sizable pent-up demand that could come to the market once the economy gathers momentum." Other analysts commented that "decade low mortgage rates and near record highs in affordability should help stabilize sales in the near term, however it will take meaningful improvement in the labor market to drive housing going forward."

Review of Last Week

UP WE GO AGAIN... Stock market investors pushed the Dow UP to its highest level since September 8, 2008, which was just before the economy headed south. In fact, all the major market indexes registered two year highs last week, as Wall Street reacted to the midterm elections on Tuesday, the Federal Reserve's announcement on Wednesday, and the October Jobs report on Friday.

The week began on a bit of a sour note, with September Personal Income down 0.1% and Personal Spending up only 0.2%, both missing expectations. But consumer inflation was up just 0.1% for the month and up 1.4% over a year ago. Core inflation, excluding food and energy, was up only 1.2% from a year ago, well within Fed guidelines. October ISM Manufacturing and ISM Services indexes were both UP, beating expectations and showing business growth.

Tuesday's election results were expected, with Republicans taking the House and Democrats keeping control of the Senate despite losing six seats to Republicans. Wednesday the Fed announced their second round of quantitative easing (QE 2). The Fed will be purchasing $600 billion in long-term Treasury securities from now till the middle of next year to help further stimulate the economy. The big upside surprise was Friday's employment report. 151,000 new jobs were created in October, versus the mere 60,000 expected. The private payroll gain was 159,000, which puts the private sector up by more than 100,000 jobs for each of the last four months. Unfortunately, the workforce increase kept the unemployment rate at 9.6%.

For the week, the Dow was UP 2.9%, to 11444.08; the S&P 500 ended UP 3.6%, at 1225.85; and the Nasdaq was UP 2.9%, to 2578.98.

It was a movable feast last week in the bond market, with prices moving up on the Fed's announcement, then pulling back with the unexpectedly positive jobs report. Nonetheless, the FNMA 30-year 4.0% bond we watch ended UP 17 basis points for the week, closing at $103.19.
According to Freddie Mac's weekly survey of conforming loans, national average rates for fixed-rate mortgages remain at historic lows, even lower than predicted for this time frame.

This Week’s Forecast

QUIET TIME... What a change from last week. No economic reports on Veteran's Day Thursday and the rest of the week is fairly sedate. Wednesday, we'll want to keep an eye on Initial Weekly and Continuing Unemployment Claims, although they're forecast to stay pretty much where they've been. This is still not at a level that will start reducing the Unemployment Rate, which is the good news we need for the housing recovery. The week will close out with preliminary November Michigan Consumer Sentiment, expected to rise just a bit.

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 Fed has said their quantitative easing Treasury purchases can continue through the first half of 2011. So economists expect the Fed Funds Rate to stay at its rock bottom level during that time, unless inflation becomes a problem, which it hasn't up till now. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.

All "Betts" on Brian! The Only Realtor you want!

Last Week in the News November 8, 2010

2010-11-10T14:20:00.001-07:00

Last Week in the News

The Institute for Supply Management reported that the monthly composite index of manufacturing activity was 56.9 in October after reaching 54.4 in September. Economists had anticipated a reading of 54.5. A reading above 50 signals expansion. It was the 15th straight month of expansion.

Total construction spending rose 0.5% to $801.7 billion in September, following a revised 0.2% drop in August. Economists had anticipated a drop of 0.5% in September.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending October 29 fell 5%. Refinancing applications decreased 6.4%. Purchase volume rose 1.4%.

Factory orders rose 2.1% in September to a seasonally adjusted $420 billion. The increase follows a 0.5% drop in August. The increase was largely due to a 15.8% rise in demand for commercial aircraft. Excluding the volatile transportation sector, orders rose 0.4%.

The Institute for Supply Management reported that the monthly composite index of non-manufacturing activity rose to 54.3 in October from 53.2 in September. A reading above 50 signals expansion.

The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, fell 1.8% in September after a revised 4.4% increase in August. On a year-over-year basis, pending sales are down nearly 25%.

Initial claims for unemployment benefits rose by 20,000 to 457,000 for the week ending October 30. Continuing claims for the week ending October 23 fell by 42,000 to 4.34 million, the lowest level since the recovery began. Non-farm payroll employment increased by 151,000 in October, a reading much higher than the 60,000 anticipated.

Upcoming on the economic calendar are reports on wholesale trade on November 9 and consumer sentiment on November 12.

All "Betts" on Brian! The Only Realtor you want!

What Are Discount Points?

2010-11-10T14:15:00.001-07:00

What Are Discount Points?

Discount points are fees paid to a lender in order to purchase a lower interest rate. This process is also known as a "rate buydown" and the net result is a lower monthly mortgage payment over the life of the loan.

One point is 1% of the loan amount. So the cost — paid at closing — for one point on a loan of $100,000 is $1,000. Typically, one point will lower the interest rate .25% to .375%, depending on the type of loan.

Does it make sense for your clients to consider purchasing discount points? That depends on a number of factors. Usually, it is best to avoid discount points if a client will be in the home less than four years, is applying for an adjustable rate mortgage or plans to refinance within a few years. Discount points are generally a good idea if the homebuyer plans to remain in the home over five years and is not planning on refinancing in the near future.

When considering discount points, it's best to conduct a break-even analysis. This is done by calculating the monthly mortgage payment with no points, then subtracting the monthly mortgage payment with points. The difference is the monthly savings. Then divide the cost of the discount points by the savings. The result is the number of months until the homebuyer breaks even.

Discount points for residential property are tax deductible in the year they are paid. Discount points are available when refinancing, but those are deductible over the life of the loan. It's best to advise your clients to consult with a tax advisor regarding the details of these deductions

All "Betts" on Brian! The Only Relator you want!

TOMORROW IS OFTEN THE BUSIEST DAY OF THE WEEK

2010-11-10T12:47:00.000-07:00

"TOMORROW IS OFTEN THE BUSIEST DAY OF THE WEEK." Spanish Proverb. And it sure seemed that way every day of last week, with one of the busiest economic calendars seen in years. Friday’s Jobs Report capped off a week filled with election results and a big announcement from the Fed regarding the next round of Quantitative Easing (QE2). So what impact did all of this news have on Bonds and home loan rates? Let’s break it down.

On Friday, the Labor Department reported that 151,000 jobs were created in October, all in the private sector. This was much higher than the 60,000 job creations that were expected - and while the economy needs a lot more job creations to put a dent in the unemployment rate, this is a great start to a recovery in the labor market.

Adding to the positive tone of the report, there were upward revisions to both August and September's numbers, and the Unemployment Rate held steady at 9.6%. The Average Hourly Wage increased as well - and across the board, the numbers were stronger than anticipated. Should this trend continue in the coming months, it would support the notion that labor has not only stabilized - but is perhaps even expanding, which would be welcome news indeed.

And while this is great news for the economy, remember that when good economic news arrives, investors move money into Stocks... and this pulls money out of all types of Bonds, including Mortgage Backed Securities, which home loan rates are based on. When money moves out of Bonds, it causes Bond pricing and home loan rates to worsen - and that’s exactly what happened, following the better than expected Jobs Report. Although we all like to hear good news for the economy - any strong, positive economic news is bad news for Bond pricing and home loan rates.

Home loan rates were exceptionally volatile all last week - and likely to remain so ahead. While rates are still at very low, affordable levels - they won’t last forever, so please get in touch if you have questions about how the current rate climate might benefit your situation.

In other big news last week, the Federal Reserve Board made their much anticipated announcement regarding another round of "Quantitative Easing" or QE2, where the Fed will participate in purchasing Treasury Securities in a bid to keep the economic recovery on track. On Wednesday, the Fed announced that they intend to purchase $600 Billion in Treasuries, starting now and continuing through mid-2011, which equates to about $75 Billion in purchases per month. So how will this impact home loan rates ahead?

We need to be mindful that the Fed initiated QE2 for three reasons. One, to help lower interest rates in order to spur consumer and business spending... which in turn will create inflation. Two, to help lower the unemployment rate via an economic boost. And three, to help push Stock prices higher. And all three of these factors will cause headwinds for Bonds and home loan rates down the road.

As the Fed gets to work on putting their latest plan into effect - we can be sure that inflation readings in various economic reports will likely be more highly scrutinized by the markets. Upcoming reports will reveal whether the Fed will be successful in their quest to fight deflation, and create a level of Goldilocks inflation that is not too hot, not too cool... but juuuust right. Ultimately, if inflation expectations creep higher, interest rates for long-term Bonds - like Mortgage Bonds - will rise as well.

One thing is certain, the volatility we saw in the markets last week is sure to continue. If you have any questions about how you can take advantage of today’s historic low rates and fabulous home prices, please contact me, and let’s evaluate your current situation. And feel free to forward this email to any friends, family members, or colleagues who may have questions as well - I’m always pleased to talk with anyone you’d refer my way.

All "Betts" on Brian! The Only Relator you want!

Daily Quotes Nov. 10 2010!

2010-11-10T08:40:00.002-07:00

Daily Quotes Nov. 10 2010!

"No matter what it is, pick yourself up and go on to the next project."
-- Shelley Duvall, actress

"A man may fulfill the object of his existence by asking a question he
cannot answer and attempting a task he cannot achieve."
-- Oliver Wendell Holmes Sr., physician

"Our minds can shape the way a thing will be because we act according to
our expectations."
-- Federico Fellini, director

"All achievements, all earned riches, have their beginning in an idea."
-- Napolean Hill, author

"Kind words can be short and easy to speak, but their echoes are truly
endless."
-- Mother Teresa, charity worker

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes Nov. 5 2010!

2010-11-05T12:04:00.001-06:00

Daily Quotes Nov. 5 2010!

"Don't ever be afraid to admit you were wrong. It's like saying you're
wiser today than you were yesterday."
-- Robert Newell, humorist

"I am willing to put myself through anything; temporary pain or
discomfort means nothing to me as long as I can see that the experience
will take me to a new level."
-- Diana Nyad, swimmer

"If you want to conquer fear, don't sit at home and think about it. Go
out and get busy. "
-- Dale Carnegie, motivational expert

"Be more concerned with your character than your reputation, because
your character is what you really are, while your reputation is merely
what others think you are."
-- John Wooden, basketball coach

"Deal first with whatever is causing you the greatest emotional
distress. Often this will break the logjam in your work and free you up
mentally to complete (the) other tasks."
-- Brian Tracy, motivational coach

All "Betts" on Brian! The Only Realtor you want!

November Newsletter and Reminder-Brian Betts

2010-11-04T11:49:00.001-06:00

Wow! It is almost time for the Holliday season! Can you believe it?

I hope you had more treats the tricks on Halloween. I ate way to much candy as usual!

Don’t forget to “Fall back” 1 hour on November 7th this year!

My 1st born Brian E. Betts II “Deuce” will be 1 on Nov. 23! I can’t believe he is already 1! Time just fly’s to fast now!

As far as Real Estate, 634 homes Sold in the Salt Lake Valley in October. Rates are still low and so are home prices! Don’t forget you can still get the 1 Year Home Warranty for free from me is you buy or sell a home with me until the end of the year! You can start your search at www.bettshomes.com and search out ALL the active listings in Utah 24/7! Call me and we can go look at these homes in person!

Thank you for all your referrals of your friends and family that you trust me with. It’ is because of you that I am able to stay in business.

Remember to Use www.bettshomes.com to search out the active listings in Utah, or you can go to www.brianebetts.com for a Wealth of Information!

Food For Thought! When I came into the Real Estate World in the Beginning of 2006 there were almost 13,000 Realtors in Business in the Salt Lake Board of Realtors, now there are about 5,000! That should let you know what’s going on! To let you know as well, I’m not going anywhere! I will still be in business for the foreseeable future and will be able to service you for years to come.

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes Nov. 4 2010!

2010-11-04T07:48:00.001-06:00

Daily Quotes Nov. 4 2010!

"You can easily judge the character of others by how they treat those
who can do nothing for them or to them."
-- Malcolm Forbes, publisher

"All men who have achieved great things have been great dreamers."
-- Orison Swett Marden, writer

"Life is the sum of all your choices."
-- Albert Camus, Author

"I don't think that once you get to one level, you can relax. You've got to keep pushing. "
-- Larry Bird, basketball player

"Character is built daily by the way one thinks and acts - thought by
thought, action by action."
-- Helen Douglas, legislator

All "Betts" on Brian! The Only Realtor you want!

For the week of November 1, 2010

2010-11-02T12:57:00.001-06:00

For the week of November 1, 2010

INFO THAT HITS US WHERE WE LIVE

Market Update

Last week's big rush of housing news began on Monday with Existing Home Sales for September UP 10% from the month before. The annual rate hit 4.53 million. This was the second straight monthly gain after July's record low following the expiration of the tax credits. The national median price for existing homes is now at $171,700, down 2.4% from a year ago. Unsold inventory dropped 1.9% from the prior month to a 10.7 months' supply.

Tuesday, the S&P Case-Shiller home price indexes came in weaker for August, also seen as a result of the expiration of the tax credits. The 10-city index was down 0.1% for the month and the 20-city index off 0.2%. The Federal Housing Finance Agency's monthly house price index showed U.S. home prices falling 2.4% from August a year ago and 13.7% off their April 2007 peak. This index only tracks the prices of homes purchased with mortgages sold to or guaranteed by Fannie Mae or Freddie Mac.

Wednesday, New Home Sales for September were UP 6.6%, coming off record lows in July and August. The seasonally adjusted annual rate was 307,000, which is down 21.5% from a year ago. Good news came with the median new home price rising 3.3% from the year before, now at $223,800. The supply also came in at 8 months, with the actual number of unsold new homes the lowest it's been since 1968.

Review of Last Week

FLAT WEEK, UP MONTH... Investors on Wall Street kept things in check last week, leaving the Dow down by a whisker, the S&P 500 dead flat, and the tech-heavy Nasdaq up a modest 1.1%. Observers felt traders were awaiting this week's midterm elections and then Wednesday's Fed meeting statement regarding its next round of quantitative easing to spur growth. For the month, stocks did quite nicely with the S&P 500 up 3.7%; the Dow up 3%, its best October since 2006; and the Nasdaq up 5.9%, its best October in seven years.

In the week's economic news, a plus always seemed to come with a minus. For example, Consumer Confidence was up in October, but it still remains at historically low levels. This is occurring over a year since the economy transitioned from recession to recovery, at least as measured by overall growth. Durable Goods Orders were up 3.3% in September, but it all came from aircraft and parts. Exclude those, and orders were down 0.8% for the month.

It was somewhat encouraging to see weekly jobless claims dropping for the third straight week. This put them at their lowest level since July, but still in troublesome territory above 400,000. Finally, the advanced estimate of Q3 GDP came in at 2.0% annual growth. This was in line with expectations and shows the economy is in fact growing. But 2% is well below the growth rate economists say we need to make a significant dent in the unemployment rate.

For the week, the Dow was down 0.1%, to 11118.49; the S&P 500 ended flat, at 1183.26; but the Nasdaq was UP 1.1%, to 2507.41.

Bond prices dipped for a good part of the week, then rebounded, but not quite enough. The FNMA 30-year 4.0% bond we watch ended down 10 basis points for the week, closing at $103.02. National average mortgage rates for most mortgages remain at historically low levels. A cautionary note: the Mortgage Bankers Association predicts rates of 30-year fixed-rated mortgages will begin rising next year.

This Week’s Forecast

HEARING FROM THE FEDS, WAITING FOR THE JOBS... There are plenty of economic reports to ponder this week, but two items stand out. The Fed will be meeting on Wednesday and while no one expects the Fed Funds rate to go up, everyone will be looking for indications of when the Fed will start its second round of quantitative easing (QE-2) and how much money will get thrown into the system. The other point of interest will be the October jobs report on Friday. The forecast is for payrolls to be up by 45,000 jobs, which isn't very many, but at least it's a positive number, though the unemployment rate is predicted to hold at 9.6%.

Highlights of the remaining economic news include the PCE inflation reading expected to stay at 0.4%, and ISM predicted down a little, though still showing manufacturing expanding. The week ends with Friday's Pending Home Sales for September, forecast to be up 0.5%, a good thing but not quite as good as August's hike of over 4%.

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.

All "Betts" on Brian! The Only Realtor you want!

Last Week in the News November 1, 2010

2010-11-02T12:55:00.001-06:00

Last Week in the News November 1, 2010

Existing home sales rose 10% in September to a seasonally adjusted annual rate of 4.53 million units from a revised 4.12 million units in August. The inventory of unsold homes on the market declined 1.9% to 4.04 million, a 10.7-month supply at the current sales pace, down from a 12-month supply in August.

The Standard & Poor's/Case-Shiller 20-city housing price index — on a seasonally adjusted basis — fell 0.3% in August after a 0.2% decrease in July. On a year-over-year basis, prices rose 1.7% compared with August 2009.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending October 22 rose 3.2%. Refinancing applications increased 3%. Purchase volume rose 3.9%.

Orders for durable goods — items expected to last three or more years — rose 3.3% in September after decreasing a revised 1% in August. Excluding volatile transportation-related goods, orders posted a monthly decrease of 0.8%.

New home sales rose 6.6% in September to a seasonally adjusted annual rate of 307,000 units from a rate of 288,000 units in August. Economists had expected a pace of 300,000 units.

The Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at an annual rate of 2% in the third quarter of 2010.

Initial claims for unemployment benefits fell by 21,000 to 434,000 for the week ending October 23. Continuing claims for the week ending October 16 fell by 122,000 to 4.35 million, the lowest level since the recovery began.

Upcoming on the economic calendar are reports on construction spending on November 1, factory orders on November 3 and pending home sales on November 5.

All "Betts" on Brian! The Only Realtor you want!

MBA Forecast for 2011 & 2012

2010-11-02T12:54:00.000-06:00

MBA Forecast for 2011 & 2012

The Mortgage Bankers Association (MBA) expects to see mortgage originations fall from an estimated $1.4 trillion in 2010 to slightly under $1 trillion in 2011, due mostly to a decline in refinance originations. However, the MBA also expects to see an increase in purchase originations next year.

The economy will grow at a slow pace but will see no significant job growth until 2011. The increase in purchase originations will be driven by modest increases in home sales and stabilizing home prices.

In contrast, MBA refinance originations are expected to fall steadily as mortgage rates gradually increase throughout 2011 and 2012.

The MBA predicts that total existing home sales for 2010 will be around 8% lower than in 2009, despite a boost to sales in the first half of the year from the home-buyer tax credit. Existing-home sales are projected to increase modestly in 2011, increasing by a little less than 2%, before increasing by about 16% in 2012. New-home sales for 2010 will be down by about 13% relative to 2009, although the MBA expects a slow recovery in 2011, increasing around 20% from a low base and then increasing 40% in 2012.

"Economic growth in 2010 has been subdued and this trend will likely continue for most of 2011," says Jay Brinkmann, MBA's chief economist and senior vice president for research and economics. "Households remain cautious given the weak job market. On top of that, uncertainty regarding tax rates for next year, and the potential for tax withholding to increase at the beginning of the year, led us to forecast that consumer spending will remain weak, particularly in the first half of 2011."

The MBA also reports that fixed mortgage rates will average about 4.4% in the fourth quarter of 2010, increase to 5.1% by the end of 2011, and head toward 5.7% in 2012. Purchase originations for 2010 will be $480 billion - about 28% below the 2009 level of $665 billion - but the MBA expects them to rise about 30% in 2011, as existing home sales recover and home prices stabilize, and should rise again in 2012 to $877 billion.

Refinance originations will end 2010 at $921 billion - a decrease of 31% from $1.3 trillion in 2009, the MBA adds, while refinance activity will decrease by 60% in 2011 to about $370 billion as mortgage rates increase and the pool of eligible borrowers shrinks, and will fall further to $310 billion in 2012.

All "Betts" on Brian! The Only Realtor you want!

Doing the Math Shows Homes are Affordable

2010-11-02T12:52:00.001-06:00

Doing the Math Shows Homes are Affordable

Housing economist, Karl Case, urges American’s to “do the math” to see how affordable homes are now. Home prices and mortgage rates both have fallen in recent years, he explains.

Combining s smaller home with a lower interest rate produces big savings. Case estimates that a buyer today could have a payment which is almost half what someone purchasing the same home four years ago would owe.

“Down payments are smaller when your purchase price has been reduced,” adds Case. “Buying a home now can make a lot of sense. Housing has perhaps never been a better bargain.”

Also, since mortgage rates have hit new all-time lows this year, existing home owners are refinancing and saving each month. Reducing monthly housing costs has the same effect as earning larger paycheck.

All "Betts" on Brian! The Only Realtor you want!

For the week of October 25, 2010

2010-11-02T12:48:00.002-06:00

For the week of October 25, 2010

INFO THAT HITS US WHERE WE LIVE

Market Update

Last week saw September Housing Starts UP 0.3% to an annual rate of 610,000 units, well ahead of the expected 580,000 unit pace. Even better, starts are UP 4.1% over a year ago. Interestingly, the September gain was totally driven by a healthy 4.4% rise in single family starts, while multi-family starts dropped 9.7%. But multi-family starts are volatile month to month, and are actually up 100.0% compared to a year ago, while single family starts are off 10.8% during the same time frame.

Builders remain cautious, as new Building Permits for September dropped 5.6%, to a 539,000 annual rate. This number of course reflects plans for builder activity a few months out. Nonetheless, the National Association of Home Builders (NAHB) reported builder confidence rose in October for the first time in five months. This brings it to a level not seen since June. The NAHB's chief economist feels the new home market is now past the quiet period that followed the expiration of the home buyer tax credits and the summer slowdown in the economy.

Review of Last Week

UP WITH VOLATILITY... It was not a quiet week on Wall Street, with a big move down in stock prices, which then came back up. But the markets did close up four out of the five days, so the week ended with all three major indexes ahead once again. Investors focused on a pile of pretty good corporate earnings results, but there were some less than stellar economic reports to get through too.

Industrial Production was off 0.2% in September, below estimates, though production is up at a 4.9% annual rate for the last six months. Capacity Utilization also dipped down to 74.7% for September, although it's still 6.5 percentage points above the low it hit back in June 2009. Countering these figures, the Philadelphia Fed Index for manufacturing in that region was back into positive territory. Leading Economic Indicators were up 0.3% for the month and weekly jobless claims fell a bit, though they're still well above 400,000.

The good news came in corporate earnings, with more than 100 S&P 500 companies reporting including 12 of the Dow components. The financials did well, with 21 out of 27 reporting better than expected earnings per share. In the tech sector, Apple and IBM also did nicely in the earnings department. Coca-Cola, Caterpillar, and airlines also showed gains. Even though the recovery has slowed, the vast majority of public companies continue to make good profit numbers.

For the week, the Dow ended UP 0.6%, to 11132.56; the S&P 500 was also UP 0.6%, to 1183.08; and the Nasdaq was UP 0.4%, to 2479.39.

Trading ranges in the bond market didn't go too wide, as investors stayed interested enough to keep prices up. The FNMA 30-year 4.0% bond we watch ended UP 12 basis points for the week, closing at $103.12. Freddie Mac's weekly survey showed national average mortgage rates for most mortgages remaining at historically low levels.

This Week’s Forecast

NOTHING SCARY... As we head into Halloween this week, it looks like nothing too frightening will be reported on the economic front. Monday's Existing Home Sales are projected up for September, just like September New Home Sales are expected to report come Wednesday. Friday, we get the Advanced Q3 GDP numbers, which economists are forecasting to be modestly positive.

Consumer Confidence on Tuesday and Michigan Consumer Sentiment on Friday are both projected to be up a tiny bit. Friday's Employment Cost Index should continue with modest growth, while the Chicago PMI is predicted to show a small decline in manufacturing in that region of the country.

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 As economists debate how big the second round of quantitative easing (QE-2) will be, they're all in agreement that the Fed Funds Rate will stay at its rock bottom level for quite a bit more time. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.

All "Betts" on Brian! The Only Realtor you want!

Last Week in the News October 25, 2010

2010-11-02T12:38:00.002-06:00

Last Week in the News October 25, 2010

Industrial production at the nation's factories, mines and utilities fell 0.2% in September, following a 0.2% increase in August. Economists had anticipated a gain of 0.2%. Capacity utilization fell to 74.7% in September from a revised 74.8% in August.

The National Association of Home Builders/Wells Fargo housing market index rose three points in October to 16. Economists had anticipated a reading of 14. An index reading below 50 indicates negative sentiment about the housing market.

According to the ICSC-Goldman Sachs index, retail sales fell 0.7% for the week ending October 16. On a year-over-year basis, retailers saw sales increase 1.7%, the weakest reading since May.

The combined construction of new single-family homes and apartments in September rose 0.3% to a seasonally adjusted annual rate of 610,000 units. Single-family starts rose 4.4%. Multifamily starts dropped 9.7%. Applications for new building permits, seen as an indicator of future activity, fell 5.6% to an annual rate of 539,000 units.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending October 15 fell 10.5%. Refinancing applications decreased 11.2%. Purchase volume fell 6.7%.

The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 0.3% in September after a downwardly revised 0.1% increase in August.

Initial claims for unemployment benefits fell by 23,000 to 452,000 for the week ending October 16. Continuing claims for the week ending October 9 fell by 9,000 to 4.39 million, the lowest level since the recovery began.

Upcoming on the economic calendar are reports on existing home sales on October 25, the housing price index on October 26 and new home sales on October 27.

All "Betts" on Brian! The Only Relator you want!

How Much Equity Do I Have?

2010-11-02T12:31:00.002-06:00

How Much Equity Do Local Homeowners Have?

Homeowner equity for median homes in 154 metro areas varies considerably depending on location, according to a recent NAR report. An analysis of these median homes in 154 metro areas over a five-year period (2004 – 2009) reveals:

87 metro areas experienced price appreciation.

In 13 metro areas, a median buyer with a 30-year fixed-rate mortgage accumulated an average of more than $50,000 in equity.

67 metro areas experienced price depreciation.

In 11 metro areas — all located in California, Nevada and Florida — a median buyer with a 30-year fixed-rate mortgage was underwater more than $50,000.

Over the last 10 years, the price and equity picture is much brighter. Median buyers in the top 29 metro areas could have accumulated at least $100,000 or more in equity. Interestingly, four of the six California cities that have had the biggest equity losses over the last five years are among the biggest gainers over a 10-year horizon. Only 12 of 154 metro areas experienced price depreciation over this 10-year period, and only seven areas — concentrated in Ohio and Michigan — saw a decline substantial enough to leave a median buyer underwater.

Over an even longer term, we see positive equity build-up in all areas. For example, in 75 of the 154 areas, a buyer who bought at the median price 20 years ago would have over $100,000 in equity in their home. In an additional 67 areas, the buyer would have more than $50,000 in equity. Take a look at overall performance in your metro area by visiting NAR's Metro-Area Housing Equity Reports page.

All "Betts" on Brian! The Only Realtor you want!

For the week of October 18, 2010

2010-11-02T12:27:00.002-06:00

For the week of October 18, 2010

INFO THAT HITS US WHERE WE LIVE

Market Update

Mortgage rates, already at historically low levels, have been sliding even further the last few weeks. Nonetheless, the Mortgage Bankers Association's Weekly Mortgage Applications Survey showed purchase applications down a bit from the week before.

But happily, applications for conventional purchase loans are actually at their highest level since the start of May, following the home buyer tax credit expiration on April 30. Of course, with today's super low rates, demand for refinancings are also up -- a healthy 24% over the week before, with refinance application volumes now close to their highest level all year.

Review of Last Week

ANOTHER WEEK UP... Yup, the stock market maintained its steady cruise upward, begun in September and continuing now for the first two weeks in October. Investors on Wall Street seem to be staying in positive, if cautious mode. The economy sends mixed signals, but stocks push relentlessly upward. All three major market indexes were up for the week, with the tech-heavy Nasdaq leading the pack, delivering a very strong 2.8% gain, helped by good Q3 numbers from Intel and Google!

On the negative side, the trade deficit expanded by $3.8 billion in August to $46.3 billion, which was larger than anticipated. New claims for unemployment insurance also increased by 13,000. Continuing claims, however, dropped to their lowest level in almost two years, but it's unfortunately still a big number, at 4.399 million. Wholesale inflation inched ahead a bit, with the Producer Price Index up 0.4% in September and up 4.0% compared to a year ago. This, of course, isn't great, although worries about deflation should be less in the headlines.

For good news, we saw consumer inflation stay well under control, with consumer prices edging up just 0.1% in September. This was less than expected and up only 1.1%versus a year ago, well within the Fed's guidelines. Core consumer prices, which leave out food and energy, were unchanged for the month. These steady prices may be why retail sales were up 0.6% for the month, better than expected and giving evidence the consumer is trying to help the recovery.

For the week, the Dow ended UP 0.5%, to 11062.78; the S&P 500 was also UP 0.9%, to 1176.19; and the Nasdaq was UP 2.8%, to 2468.77.

It was a volatile week in the bond market, but prices held up well enough in certain areas. The FNMA 30-year 4.0% bond we watch ended down just 6 basis points for the week, closing at $103.00. Freddie Mac's weekly survey showed national average mortgage rates for most mortgages trickling lower for another week, staying at historically low levels.

This Week’s Forecast

BUILDING PRODUCTS, BUILDING HOMES...This week's economic reports begin and end with manufacturing readings, which are expected to still show a slow recovery. Monday's Industrial Production and Capacity Utilization are expected to stay flat for September. Thursday we get the Philadelphia Fed Index of the state of manufacturing in that region, forecast to nudge up into positive territory.

In addition to building products, we'll also get a look at building homes. Tuesday's September Housing Starts should be down a bit from August and still hovering at a modest rate below 600,000. September Building Permits, showing how builders are feeling further out, are expected to be slightly under the Housing Starts number, indicating still cautious attitudes in that industry.

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 Fed chairman Ben Bernanke last Friday all but promising a second round of quantitative easing (QE-2), economists do not expect the Fed Funds Rate to move off its rock bottom level for quite some time. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.

All "Betts" on Brian! The Only Realtor you want!

Last Week in the News October 18, 2010

2010-11-02T12:25:00.001-06:00

Last Week in the News October 18, 2010

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending October 8 rose 14.6%. Refinancing applications jumped 21%. Purchase volume fell 8.5%.

The trade deficit increased 8.8% to $46.3 billion in August. Economists had expected the trade deficit to rise to $44.3 billion. Exports rose 0.2% to $153.9 billion. Imports increased 2.1% to $200.2 billion.

The producer price index, which tracks wholesale price inflation, rose 0.4% in September, matching a 0.4% increase in August. Core prices — excluding food and fuel — rose 0.1%, also matching a 0.1% increase in August. For the year, seasonally adjusted wholesale prices are up 4%.

Retail sales rose 0.6% in September after an upwardly revised 0.7% increase in August. Economists had anticipated retail sales to rise 0.5% in September.

Total business inventories rose 0.6% in August, following a revised 1.1% increase in July. Total business sales rose 0.1% in August after a 0.8% increase in July.

Consumer prices rose a seasonally adjusted 0.1% in September, following a 0.3% increase in August. For the year, seasonally adjusted consumer prices are up 1.1%.

The Reuters/University of Michigan consumer sentiment index for October's preliminary reading fell to 67.9 from 68.2 in September.

Initial claims for unemployment benefits rose by 13,000 to 462,000 for the week ending October 9. Continuing claims for the week ending October 2 fell by 112,000 to 4.39 million, the lowest level since November 2008.

Upcoming on the economic calendar are reports on the housing market index on October 18, housing starts on October 19 and the index of leading economic indicators on October 21.

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes!

2010-11-02T06:39:00.002-06:00

Daily Quotes Nov. 2 2010!

"A good goal is like a strenuous exercise - it makes you stretch."
-- Mary Kay Ash, cosmetics pioneer

"Only when we are no longer afraid do we begin to live."
-- Dorothy Thompson, journalist

"Someone has well said, "Success is a journey, not a destination."
Happiness is to be found along the way, not at the end of the road."
-- Robert Updegraff, business counselor

"If life was so easy that you could just go buy success, there would be
a lot more successful companies in the world. Successful enterprises are
built from the ground up."
-- Lou Gerstner, IBM CEO

"The real winners in life are the people who look at every situation
with an expectation that they can make it work or make it better."
-- Barbara Pletcher, author

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes!

2010-11-01T08:48:00.002-06:00

Daily Quotes Nov. 1 2010!

"Our greatest enemies, the ones we must fight most often, are within."
-- Thomas Paine, statesman

"Everybody talks bout wanting to change things and help and fix, but
ultimately all you can do is fix yourself. And that's a lot. Because if
you can fix yorself, it has a ripple effect."
-- Rob Reiner, director

"Confidence... thrives only on honesty, on honor, on the sacredness of
obligations, on faithful protection and on unselfish performance.
Without them, it cannot live."
-- Franklin Roosevelt, 32nd U.S. president

"One often hears the remark "He talks too much." But when did anyone
last hear the criticism "He listens too much?""
-- Norman Augustine, aerospace executive

"The secret of business, especially these days, is to focus relentlessly
on your unfair advantage - the thing you do that others don't."
-- John Rollwagen, executive

All "Betts" on Brian! The Only Relator you want!

History of the Jack-O’-Lantern

2010-10-29T08:01:00.001-06:00

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 magical 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!!!

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes!

2010-10-29T07:56:00.001-06:00

Daily Quotes Oct. 29 2010!

"Luck is not chance, it's toil. Fortune's expensive smile is earned."
-- Emily Dickinson, poet

"If you believe you can, you probably can. If you believe you won't, you
most assuredly won't. Belief is the ignition switch that gets you off
the launching pad."
-- Denis Waitley, motivational speaker

"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

"You just don't luck into things as much as you'd like to think you do.
You build step by step, whether it's friendships or opportunities."
-- Barbara Bush, first lady

"Never turn down a job because you think it's too small. You don't know
where it can lead. "
-- Julia Morgan, architect

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes!

2010-10-27T06:55:00.002-06:00

Daily Quotes Oct. 27 2010!

"The future has several names. For the weak, it is the impossible. For the fainthearted, it is the unkown. For the thoughtful and valiant, it is the ideal."
-- Victor Hugo, writer

"One day Alice came to a fork in the road and saw a Cheshire cat in a tree. "Which road do I take?" she asked. "Where do you want to go?" was his response. "I don't know," Alice answered. "Then," said the cat, "it doesn't matter.""
-- Lewis Carroll, author

"Don't be content with doing only your duty. Do more than your duty. It's the horse that finishes a neck ahead that wins the race."
-- Andrew Carnegie, industrialist

"The superior man blames himself. The inferior man blames others."
-- Don Shula, football coach

"The most important thing is your self-respect. It doesn't matter what people think about you, but what you think about yourself."
-- Robert H. Abplanalp

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes!

2010-10-25T07:53:00.002-06:00

Daily Quotes Oct. 25 2010!

"If you want to achieve your dreams, you must follow them, and the best
way to follow them is not to think about wanting to be very rich, but to
think about doing something that you really want to do."
-- Jackie Collins, author

"If you keep working at it, in the last analysis, you win. They've got
to kill us a hundred times. All we have to do is kill them once."
-- Frederick Smith, Federal Express founder

"I might have been born in a hovel, but I am determined to travel with
the wind and the stars."
-- Jacqueline Cochran, aviator

"What holds so many employees back is an unwillingness to pay the price,
to make the effort to sacrifice their ease and comfort."
-- Orison Marden, writer

"Putting off an easy thing makes it hard. Putting off a hard thing makes
it impossible."
-- Charles Wilson, legislator

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes!

2010-10-21T06:53:00.002-06:00

Daily Quotes Oct. 21 2010!

"As a rule, men worry more about what they can't see than about what they can."
-- Julius Caesar, Roman leader

"If you don't like something, change it. If you can't change it, change your attitude. Don't complain."
-- Maya Angelou, poet

"Even when I lost, I learned what my weaknesses were and I went out the next day to turn those weaknesses into strengths."
-- Larry Bird, basketball player

"When I thought I couldn't go on, I forced myself to keep going. My success is based on persistence, not luck. "
-- Estee Lauder, entrepreneur

"If you're not making mistakes, your'e not trying hard enough."
-- Vince Lombardi, football coach

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes!

2010-10-19T12:21:00.001-06:00

Daily Quotes Oct. 19 2010!

"I never won anything without hard labor and the exercise of my best judgment."
-- Theodore Roosevelt, 26th U.S. president

"The most important thing about goals is... having one."
-- Geoffry F. Abert

"I always tried to turn every disaster into an opportunity."
-- John D. Rockefeller, Industrialist

"When you dare to dream, dare to follow that dream; dare to suffer
through the pain, sacrifice, self-doubts and friction from the world."
-- Laura Schlessinger, talk-show host

"All growth depends upon activity. There is no development physically or
intellectually without effort, and effort means work."
-- Calvin Coolidge, 30th U.S. president

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes!

2010-10-18T09:28:00.001-06:00

Daily Quotes Oct. 18 2010!

"The superior man makes the difficulty to be overcome his first
interest; success comes only later."
-- William Jennings Bryan, attorney

"I don't know the key to success, but the key to failure is trying to
please everybody."
-- Bill Cosby, Comedian

"The value decade is upon us. If you can't sell a top-quality product at
the world's lowest price, you're going to be out of the game."
-- Jack Welch, Executive

"Within our dreams and aspirations we find our opportunities."
-- Sugar Ray Leonard, boxer

"Resolve to perform what you ought; perform without fail what you
resolve."
-- Benjamin Franklin, statesman

All "Betts" on Brian! The Only Realtor you want!

Direct Marketing

2010-10-15T14:49:00.001-06:00

Direct Marketing: 5 Easy Ways to Get It Right

Direct marketing — the practice of using impactful one-on-one communication to get your carefully chosen prospects to respond in a desired way — is a smart, cost-effective strategy for increasing your sales and business. The best direct marketers align the right message, audience, format, timing and measurement to create outstanding direct-marketing results. To do so, you need to develop the following:

Right Message: Compel your prospects to take action by giving them fresh, insightful information that will save them time and money, add comfort and convenience, or make their lives safer and more enjoyable. Attach guarantees, discounts and deadlines to make offers stand out even more.

Right Audience: These are the people you believe will benefit most from your products and services. On all of your communications, include a sign-up or subscribe button, along with your contact information. Continue to cull and cultivate your contacts and treat them like the gold they are.

Right Format: Your message and audience will often influence the format(s) your direct marketing will take. These formats include direct mail in the form of letters, postcards, flyers and brochures; electronic media such as emails, blogs and social networking sites; telemarketing; and point of purchase (POP) displays. Each, however, must be high-impact and professional looking. Collect direct-marketing examples you have admired and use them to influence your own pieces.

Right Timing: Tie your value-added information to holidays, birthdays or breaking news (i.e., changes in interest rates or new government homebuying incentives) to make it all the more timely and valuable. Providing customers with timely information that increases their knowledge and options will quickly set you apart from your competition.

Right Tracking: If you are not getting the results you want, continually refine and tweak your message, audience, product, service, offer, packaging, format, and/or timing. That's the beauty of direct marketing: It's measurable.

All "Betts" on Brian! The Only Realtor you want!

Brian E. Betts-Helping people

2010-10-15T14:45:00.003-06:00

Brian E. Betts-Helping people

This is an unfortunate part of our reality now. I know that you have someone in your life that is going through a rough time and knows that the time in now. Feel Comfortable knowing that I will let them know their options and lead them in the right direction.

I know what it takes to get the job done!

Truly,

Brian E. Betts

All "Betts" on Brian! The Only Realtor You Want!
Keller Williams Utah Realtors

435-513-0973

betts@kw.com

www.brianebetts.com

Daily Quotes!

2010-10-15T09:13:00.002-06:00

Daily Quotes for Oct. 15 2010!

"I would never have amounted to anything were it not for adversity. I
was forced to come up the hard way."
-- J.C. Penney, Businessman and Mason

"All serious daring starts from within."
-- Eudora Welty, writer

"Knowing thyself is the height of wisdom."
-- Socrates

"Never let life's hardships disturb you; no one can avoid problems, not
even saints or sages."
-- Nichiren Daishonen

"I believe in me more than anything in this world."
-- Wilma Rudolph, Olympic runner

All "Betts" on Brian! The Only Realtor you want!

Daily Quotes!

2010-10-14T09:14:00.002-06:00

Daily Quotes Oct. 14 2010!

"When you affirm big, believe big and pray big, putting faith into action, big things happen."
-- Norman Vincent Peale, clergyman

"No matter how small and unimportant what we are doing may seem, if we do it well, it may soon become the step that will lead us to better things."
-- Channing Pollock

"Never forget that it is the spirit with which you endow your work that makes it useful or futile."
-- Adelaide Hasse, librarian

"Sometimes we stare so long at a door that is closing that we see too late the one that is open."
-- Alexander Graham Bell, inventor

"You promote yourself every time you take on a new responsibility."
-- William Gore, executive

All "Betts" on Brian! The Only Realtor you want!

For the week of October 11, 2010

2010-10-12T12:35:00.003-06:00

For the week of October 11, 2010

INFO THAT HITS US WHERE WE LIVE

Market Update

With all the conflicting opinions about the housing market, we found this recently published article in the Wall Street Journal to be quite helpful. It's title says it all, "10 Reasons to Buy a Home".

Last Monday, the National Association of Realtors (NAR) reported its August Pending Home Sales index UP 4.3% over the prior month. But this measure of signed contracts on existing homes was down 20.1% compared to a year ago. The NAR's current economic forecast looks to a 6.4% drop in existing home sales for 2010 compared to 2009, putting the volume at 4.82 million, and the median existing home price UP 0.2%, to $172,900. This is a smaller drop and a greater price rise than previously predicted.

On the new homes front, the NAR projects sales off 13.4% for the year to 325,000, although housing starts will be UP 11.3% while the new home median price will dip 0.4% to $215,000. But the NAR projects new home sales UP a whopping 28.9% for 2011 and 28% in 2012, with the median price UP 2.4% next year and 4.9% the year after that. Finally, the President last week signed a bill that keeps in place today's higher loan limits for Fannie Mae and Freddie Mac guaranteed loans and FHA multifamily programs.

Review of Last Week

DOW AT 11 THOU... Stocks went up and down all week as investors on Wall Street tried to figure out if it was smarter to be betting on the economy or against it. The economic data coming from the government and corporations pointed opposite ways, but UP was the direction that ultimately prevailed. As a result, the Dow crossed over the 11,000 threshold for the first time since May, as all three major market indexes showed gains for the week and were up from 4.5% to almost 6% for the year.

It was nice to see Pending Homes Sales ahead for the month, but the 20% drop year-over-year indicates that the housing market still awaits real recovery. Then the week ended with a disappointing September employment report showing payrolls down by 95,000 for the month. This was all due to heavy layoffs in government jobs, as the private sector showed a gain of 64,000 jobs, which was OK, but a bit less than expected. The unemployment rate held at 9.6%

On the good news side, the ISM Services index rose above expectations in September, showing slow but still steady expansion in the non-manufacturing sector of the economy. There were also better-than-expected earnings reports from Alcoa, Yum! Brands, and Costco, with PepsiCo's Q3 numbers in line with expectations. But some observers felt the biggest push to the upside was investors' increasing certainty that the Fed will move soon to stimulate the economy with QE-2, its second round of quantitative easing. Of course, negative economic numbers increase chances that the Fed will act sooner.

For the week, the Dow ended UP 1.6%, to 1106.48; the S&P 500 was also UP 1.6%, to 1165.15; and the Nasdaq was UP 1.3%, to 2401.91.

Prices were strong in the bond market and held up, even with some profit-taking at the end of the week. The FNMA 30-year 4.0% bond we watch ended UP 79 basis points for the week, closing at $103.06. National average mortgage rates for most mortgages tracked in Freddie Mac's weekly survey remain at historically low levels.

This Week’s Forecast

THE FED'S THOUGHTS, INFLATION, RETAIL... Tuesday we have the minutes from the Fed's last FOMC meeting a few weeks ago. The economic experts are sure to pore over the dialogue to see when the central bank may go for another round of quantitative easing ("QE-2"). This will keep rates low, but could lead to more inflation later on, which could drive more people into the housing market.

Wholesale inflation for September is measured with Thursday's Producer Price Index (PPI), but more important are Friday's CPI readings on consumer inflation. These are all expected to remain in benign territory, where they've resided for some time. Friday's Retail Sales numbers will tell us more about the consumer's contribution to the recovery, but they're expected to show more modest gains than previously reported. All this indicates a slowing of the recovery, but at least we're not falling back into recession.

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's more talk about the Fed helping the economy along with a second round of quantitative easing (QE-2). Consequently, economists expect the Fed Funds Rate to stay at its rock bottom level well into next year. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.

All "Betts" on Brian! The Only Relator you want!

Last Week in the News

2010-10-12T12:32:00.002-06:00

Last Week in the News

The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, rose 4.3% in August after a downwardly revised 4.5% increase in July. On a year-over-year basis, pending sales are down 18.4%.

Factory orders fell 0.5% in August to a seasonally adjusted $408.9 billion. The decline follows a revised increase of 0.5% in July. The decrease was largely due to a 40.2% drop in demand for commercial aircraft. Excluding the volatile transportation sector, orders rose 0.9%.

The Institute for Supply Management reported that the monthly composite index of non-manufacturing activity rose to 53.2 in September from 51.5 in August. A reading above 50 signals expansion. It was the ninth consecutive month of growth.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending October 1 fell 0.2%. Refinancing applications fell 2.5%. Purchase volume increased 9.3%, the highest level since early May.

Wholesalers increased their inventories 0.8% in August, following a revised 1.5% rise in July. Sales at the wholesale level rose 0.5% in August after a 0.8% increase in July. Economists had anticipated inventories would increase 0.5% in August.

Initial claims for unemployment benefits fell by 11,000 to 445,000 for the week ending October 2. Continuing claims for the week ending September 25 fell by 48,000 to 4.45 million. The unemployment rate remained unchanged at 9.6% in September.

Upcoming on the economic calendar are reports on international trade on October 14 and retail sales on October 15.

All "Betts" on Brian! The Only Realtor you want!

Getting More Important Things Done

2010-10-12T12:30:00.001-06:00

Getting More Important Things Done

You should start your day by tackling the biggest, hardest and most important task of the day. In short: Do the worst first and resist the temptation to start with the easier tasks. This is the central message of Brian Tracy's bestselling book, "Eat That Frog: 21 Great Ways to Stop Procrastinating and Get More Done in Less Time."

To help you separate the big and important tasks from low-priority tasks, try creating imaginary deadlines. Work through your day as if you've just received an emergency message and been informed you must leave town tomorrow. Then ask yourself: What are my priorities? Write them down and grade them, with "A" being items of greatest importance.

Examine ways you can save, schedule and consolidate large chunks of time for the most important tasks. Work in blocks of time. Make work appointments with yourself then discipline yourself to keep those appointments. If you have tasks you can schedule, then set aside preplanned time slots where you focus only on one task at a time.

One of the most powerful tools for time management is the word "no." Learn to say no politely but clearly. Intentionally avoid working on low-value tasks, activities or responsibilities that you can abandon with no real loss. Keep in mind that to do something new you must stop or complete doing something old.

Develop a sense of urgency to everything you do. Impose deadlines for every task. There is never enough time to get everything done. But you are free to choose what you do next. And your ability to choose between the important and the unimportant is the key determinant of your success in life and work.

All "Betts" on Brian! The Only Relator you want!

Daily Quotes!

2010-10-12T12:26:00.002-06:00

Daily Quotes Oct. 12 2010!
"Nurture your mind with great thoughts. To believe in the heroic makes heroes."
-- Benjamin Disraeli, British prime minister

"A smooth sea never made a skillful mariner."
-- English proverb

"Only those who risk going too far can possibly find out how far one can go."
-- T.S. Eliot

"The greater the difficulty, the more glory in surmounting it."
-- Epicurus

"Forgiveness does not change the past, but it does enlarge the future."
-- Paul Boese

All "Betts" on Brian! The Only Realtor you want!

For the week of October 4, 2010

2010-10-05T12:02:00.002-06:00

For the week of October 4, 2010

INFO THAT HITS US WHERE WE LIVE

Market Update

Last week's housing market data centered on Standard & Poor's S&P/Case-Shiller Home Price Index. This showed home prices UP in July for the fourth month in a row, but the pace of their gain had slowed from prior months. With the expiration of the government's home buyer tax incentives, some observers wonder if the S&P/Case-Shiller will keep moving up. The composite 20-city index, a broad measure of U.S. home prices, showed a 3.2% increase year over year, the sixth month in a row it posted an annual gain.

Nonetheless, home price gains did slow in the waning days of the tax credits. In July, only 12 of the 20 cities surveyed showed price gains, compared to 17 cities reporting rising prices in June. Analysts pointed out that these results underscore the fact that the spring/early summer months are the best for home sales. Most experts feel the next few months should give us a better idea of the true strength of the housing market.

Review of Last Week

A BIT OF A BREATHER... Investors on Wall Street took a rest last week from bidding stock prices up the way they had earlier in the month. Performance of the major market indexes was uninspiring, though slippages were all less than a half a percent. But performance for the month was impressive. The broad-based S&P 500 index, favored by professional investors, shot up 8.8% for September, its best monthly gain since April 2009 and its best September reading in over 70 years.

Perhaps investors took the week off because they remain cautious about the near-term economic recovery. Consumers seem to agree, as the week began with a surprise drop in September's Consumer Confidence Index, which hit a seven-month low, falling far short of consensus expectations. The ISM Manufacturing Index also slid a bit from August to September, missing estimates, but remaining in expansion territory.

Upside economic data included better than forecast weekly initial jobless claims, although 453,000 is still not a good number. Continuing claims dropped by 83,000 for the week, but that number remains well above 4 million. Personal income and spending (PCE) for August were up better than expected and Core PCE was up just 0.1%, so inflation is still in check.

For the week, the Dow ended down 0.3%, to 10829.68; the S&P 500 was down 0.2%, to 1146.24; and the Nasdaq was off 0.4%, to 2370.75.

The bond market ended the week with investor interest helping prices in some areas. One was the FNMA 30-year 4.0% bond we watch, which ended UP 10 basis points for the week, closing at $102.27. According to Freddie Mac's weekly survey, national average mortgage rates for fixed-rate mortgages dropped a tad, remaining at historically low levels.

This Week’s Forecast

WHERE WE'RE GOING WITH HOMES AND JOBS... The week begins with August Pending Home Sales, which count signed contracts and therefore tell us what will be happening with closings a few months out. Unfortunately, the consensus expects the August reading to be down a bit from July. But September ISM Services is expected to show the non-manufacturing sector still indicating expansion, with a reading just over 50.

The week ends with the September Employment Report and the forecast is for no increase in payrolls overall, although 70,000 jobs are expected to be added to the private sector. However, population growth outpaces this rate of job creation, so unemployment is predicted to tick up to 9.7%.

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's been a lot of talk about the Fed's readiness to provide a second round of quantitative easing (QE-2) if needed. This has led economists to believe that the Fed Funds Rate will remain at its rock bottom levels for quite some time. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.

All "Betts" on Brian! The Only Realtor you want!

Last Week in the News

2010-10-05T12:01:00.000-06:00

Last Week in the News

According to the ICSC-Goldman Sachs index, retail sales rose 0.4% for the week ending September 25. On a year-over-year basis, retailers saw sales increase 3.6%, the best reading since early August.

The Standard & Poor's/Case-Shiller 20-city housing price index — on a seasonally adjusted basis — rose 0.6% in July after a 0.3% increase in June. On a year-over-year basis, prices rose 3.2% compared with July 2009.

The consumer confidence index fell to 48.5 in September from a downwardly revised 53.2 in August. The index was benchmarked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending September 24 fell 0.8%. Refinancing applications fell 1.6%. Purchase volume increased 2.4%.

The Institute for Supply Management reported that the monthly composite index of manufacturing activity was 54.4 in September after reaching 56.3 in August. Economists had anticipated a reading of 54.5. A reading above 50 signals expansion. It was the 14th straight month of expansion.

Total construction spending rose 0.4% to $811.8 billion in August, following a downwardly revised 1.4% drop in July. Economists had anticipated a drop of 0.4% in August.

The Commerce Department reported that consumer spending rose $41.3 billion or 0.4% in August, matching what economists had anticipated. Personal income increased $59.3 billion or 0.5%.

Initial claims for unemployment benefits fell by 16,000 to 453,000 for the week ending September 25. Continuing claims for the week ending September 18 fell by 83,000 to 4.45 million.

Upcoming on the economic calendar are reports on pending home sales on October 4 and wholesale trade on October 8.

All"Betts" on Brian! The Only Realtor you want!

Oct Newsletter

2010-10-01T14:41:00.001-06:00

Oct Newsletter

Leaves are changing. The air is supposed to start getting cooler, home prices are low and rates are even lower (Below 4.25%)! It looks like nation wide home prices are 26% below what they were last year at this time! Let me ask you a question, and be honest, If you found out that the car you were looking at one year ago was 26% lower from what it was then, is now, wouldn’t you buy it? That’s what people are doing now, they are buying! In the last 30 days in just the County of Salt Lake 613 properties were sold! That is 613 people that sold their home and 613 buyers that bought homes! That is 1226 sides! What that means to me is that homes are selling and people are buying!

Only 1 out of 5 homes that sold were in distress of some kind, being a foreclosure or short sale. 4 out of 5 were people like you and me that just wanted to move and did! Remember, it is never as bad as the media makes it sound! Here is an interesting fact. Lenders started Foreclosure Proceedings on about 2.8 million homes last year, but the number or actual foreclosure sales was about 953,000! As Public Enemy states, “Don’t Believe the Hype”!

Please let me know if I can help you, your friends or family, anyone in your neighborhood or work that could use my knowledge and expertise!

I am an expert at getting homes sold, and as one of my buyer clients said just the other day, “A Bulldog” when it comes to helping you buy a home! Do the right thing and call me if you need anything!

You can also go to www.bettshomes.com and search out ALL the active listings in Utah 24/7! Call me and we can go look at these homes in person!

I am here to serve you! Enjoy the Newsletter!

Truly,

Brian E. Betts

All "Betts" on Brian! The Only Realtor You Want!

Keller Williams Utah Realtors

435-513-0973

betts@kw.com

www.brianebetts.com

What could you do with one more hour a day?

2010-10-01T12:13:00.000-06:00

What could you do with one more hour a day?

What could you do with one more hour a day?

Summer's over, so it's back to school for the kids and back to business for the rest of us. As you take a look at what lies ahead, it's easy to come to the conclusion there simply isn't enough time to get everything you want accomplished. You can't squeeze one more day out of the week or one more week out of the year, but you can find an extra hour each day without much trouble at all.

How to find that extra hour.

The truth is, people spend much more time than they realize watching TV, entertaining themselves on the web, and sleeping more than they really need to. If you just try to cut down on the amount of time you spend on the couch or in bed, you can easily find yourself with an hour of time a day available to grow your business.

All it takes is for you to rethink your schedule a little, making simple changes to your usual patterns. Instead of hitting the snooze button, try getting up earlier. This lets you get a pile of work done before the phone starts ringing and the emails begin piling up. Early rising also lets you work with clients and contacts in time zones to the east of you, while it's still early in the day for them. Instead of watching TV, use that time to answer emails, rather than letting emails take up valuable work time during the day.

An extra hour a day for your business gives you an extra 20 hours of work each month, which adds up to 240 hours per year. That's 10 whole days, or two full work weeks. Just think of the value of that in dollars per hour!

What to do with that extra hour.

Read and learn how to do your job better and how to market yourself better. Dive into relevant information from trade associations. Take a look at what types of marketing your competition is doing. Find out more about how to use all the online and off-line ways to deliver your message. Look at your own marketing efforts, discard what isn't working, and try something you haven't done before.
Do the kind of serious strategic planning that will set up your growth for the future. Where is your business going? What kind of services should you add? Who else should you be targeting? Can you expand geographically? Where do you want to be in your business -- and in your life 5 years from now? -- 10 years from now?
Then start executing. Write an article to submit to local newspapers and industry websites. Update the content on your own website and add a new feature, such as a blog. Submit comments to other people's blogs that talk to your audience. Put together an email campaign that links to your blog or website. Come up with a tag line and put it on new business cards. Develop a direct mail list and think of a compelling offer you can send out on an inexpensive post card.

You'll be surprised at how much more you can get accomplished with just a few changes to your work habits and just a touch more discipline. Jump ahead of your competitors while they're still asleep...and make a lot more money with a lot less stress. Try it. And have a great month!

All "Betts" on Brian! The Only Realtor you want!

New FHA MIP Fee Changes Take Effect October 4th

2010-10-01T12:10:00.002-06:00

New FHA MIP Fee Changes Take Effect October 4th

Up Front MIP will decrease from 2.25% to 1%
Annual MIP will increase from .50/.55 to .85/.90 for terms greater than 15 yrs
FHA will make the premium fee changes on all new case numbers effective October 4, 2010. (In order to avoid the Annual MIP increase, your buyers will need an FHA case number assigned before October 4th.)

We are waiting to hear about changes to seller contribution limits. We will issue a Bulletin as soon as FHA makes the announcement.

What this Mans for you is that if you DON'T lock in before this date you will be paying about $40 more a month that will take you down in approval dollar by about $20,000! Lock in TODAY! That Mans we need to get a home under contract this weekend!

CALL ME NOW!

Thanks!

All "Betts" on Brian! The Only Realtor you want!

For the week of September 27, 2010

2010-10-01T12:06:00.002-06:00

INFO THAT HITS US WHERE WE LIVE

Market Update

As promised, last week's reports gave us a complete picture of the housing market in August. Housing Starts rose 10.5% month-over-month to a 598,000 annual rate, well ahead of the expected 550,000 number. Building Permits, which reflect builder sentiment further out, grew a more modest 1.8% month-over-month to a slightly smaller 569,000 annual rate. Thursday, Existing Home Sales came in UP 7.6% over July, at a 4.13 million annual rate. But let's remember, July was a record low, so this gain still left sales down 19% from August a year ago. The median price for Existing Homes, however, ticked up 0.8% year-over-year, as reported by the National Association of Realtors.

Friday saw New Home Sales for August come in unchanged from the previous month, meeting expectations at a 288,000 annual rate. The increases in Existing Home Sales and Housing Starts are welcome, as is the lack of a drop in New Home Sales. But sales are still at fairly weak levels. Observers feel that with the government tax credit, we had an artificial boost in home sales, so what followed was obviously an artificial low and we're now slowly climbing back toward normalcy.

Review of Last Week

FOUR IN A ROW... The stock market opened the week strongly, but then lost ground for three days before the bulls were back in control igniting a big rally on Friday, just shy of a 200 point gain for the day. This put stocks UP for the fourth straight week, with the Dow again nearing 11,000 and the broad-based S&P 500 hitting a four-month high.

It was a mixed bag of economic data once again. Housing numbers, covered above, were showing some signs of recovery, but then initial jobless claims grew to 465,000, higher than anticipated and indicating the labor market is still soft. The week ended with Durable Goods Orders down for August.

But the big event was the Federal Reserve meeting Tuesday. They left the fed funds rate unchanged as expected. They also kept policy statement language that says economic conditions are likely to keep the rate at exceptionally low levels for "an extended period." But they have now added that the Fed is prepared to provide additional accommodation if needed. Some think this is what sent stocks up, as investors felt they couldn't lose. If the economy improves, stocks will go up. If the economy stalls, the Fed will step in, so stocks will still go up! We'll see.

For the week, the Dow ended UP 2.4%, to 10860.26; the S&P 500 was UP 2.1%, to 1148.67; and the Nasdaq was UP 2.8%, to 2381.22.

Bonds were on the move up and down all week, and Friday was a down day as investors flocked to those rallying stocks. Yet for the week, the FNMA 30-year 4.0% bond we watch ended UP 8 basis points, closing at $102.17. Freddie Mac's weekly survey of national average mortgage rates reported fixed-rate mortgages not budging from their historically low levels.

This Week’s Forecast

CONSUMERS, Q2 GDP, INFLATION... Economic reports on the consumer's September mindset bookend the week, with Consumer Confidence expected off a tad on Tuesday but Michigan Consumer Sentiment up a fraction come Friday.

Thursday features the third estimate of Q2 GDP numbers, but no change is expected from the prior reading, which showed a slower 1.6% growth rate. Friday's Personal Spending and Core PCE Prices for August should reveal inflation still well under control.

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 preserved the language that the Fed would probably keep rates low for "an extended period." The statement also added that the central bank was ready to provide more accommodation if needed, so economists do not expect to see any change in the Fed funds rate well into next year. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.

All "Betts" on Brian! The Only Realtor you want!

Last Week in the News

2010-10-01T12:05:00.000-06:00

Last Week in the News

The National Association of Home Builders/Wells Fargo housing market index was unchanged in September at 13. An index reading below 50 indicates negative sentiment about the housing market.

The combined construction of new single-family homes and apartments in August rose 10.5% to a seasonally adjusted annual rate of 598,000 units. The increase was largely due to a boost in the construction of multi-family homes. Applications for new building permits, seen as an indicator of future activity, rose 1.8% to an annual rate of 569,000 units.

Existing home sales rose 7.6% in August to a seasonally adjusted annual rate of 4.13 million units from an upwardly revised 3.84 million units in July. The inventory of unsold homes on the market declined 0.6% to 3.98 million, an 11.6-month supply at the current sales pace, down from a 12.5-month supply in July.

The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 0.3% in August after a 0.1% increase in July.

Orders for durable goods — items expected to last three or more years — fell 1.3% in August after increasing a revised 0.7% in July. Excluding volatile transportation-related goods, orders posted a monthly increase of 2%.

New home sales were unchanged in August at a seasonally adjusted annual rate of 288,000 units, matching July, which was revised up from 276,000. Economists had expected a pace of 290,000 units.

Initial claims for unemployment benefits rose by 12,000 to 465,000 for the week ending September 18. Continuing claims for the week ending September 11 fell by 48,000 to 4.49 million.

Upcoming on the economic calendar are reports on the housing price index on September 28 and construction spending on October 1.

All "Betts" on Brian! The Only Realtor you want!

Housing Market Snapshot

2010-10-01T12:03:00.000-06:00

Housing Market Snapshot

According to the National Association of Realtors, pending home sales bounced back after two months of decline. This forward-looking indicator, based on signed contracts, rose 5.2% in July after a 2.8% decrease in June and a 30% decline in May.

New home sales on a seasonally adjusted annual rate are averaging approximately 300,000 units a month. That’s down approximately 70% from the peak levels in mid-2005. Existing home sales, which make up more than 90% of the market, are down approximately 30% from peak levels in mid-2005. Annual sales are expected to reach 5 million in 2010 because of strong activity in the first half of the year.

According to the Standard & Poor’s/Case-Shiller housing price index, home prices are 6% above the April 2009 bottom but 28% below their peak in July 2006.

The Housing Affordability Index showed that 72.3% of all homes sold in the second quarter of 2010 were affordable to families earning the median income of $64,000.

Interest rates have been falling since April as investors sought safety in Treasury bonds. That has lowered their yields, which mortgage rates tend to track. The low rates have fueled a wave of refinancing. In late August, refinancing made up 82.9% of total loan applications, the highest level since January 2009.

The low interest rates have not provided a boost in home sales. Home sales are being held back by unemployment. There were 8.4 million jobs lost in 2008 and 2009, approximately 7% of all jobs at the start of the recession. That compares to a loss of 3.1% of jobs during the 2001 recession and 1.9% of jobs lost during the 1990-1991 recession.

All "Betts" on Brian! The Only Realtor you wnat!