iPhone, iPad, I Feel Like a Kid in an App Store…
Posted by Kim Fontes | Leave A Comment »
Having just started in the Real Estate Industry, it was time to make a major overhaul to my office equipment. My shopping spree started with the purchase of a new iPhone 4S. Since this was the first Apple product I had ever owned, initially it took a little getting used to. This process was certainly streamlined due to the great (no charge!) classes offered at the Apple store. The instructors are very knowledgeable and fortunately very patient!
Even though I am technologically-challenged, they had me up and running in no time. If you are considering purchasing an iPhone, I highly recommend it; however, if given a second chance, I would forgo the Siri add-on. While Siri is too cool, I personally have not used this feature enough to justify the cost.
The second purchase I made, which was actually an unintended splurge, was the iPad2. (Unbeknownst to me, iPad3 was to be introduced a month later!) I gave into this impulse purchase when I became convinced that, with remote access, the iPad could function as a laptop. Now in all fairness, I can’t honestly say if the salesperson oversold this product or if there was just an overabundance of wishful thinking on my part. Regardless, if you are planning on purchasing an iPad, please thoroughly research iPad’s capabilities with the applications you have in mind. For me personally, I have concluded that I need a laptop to conduct business and will use iPad as more of an icebreaker with prospects.
In spite of these setbacks, I have thoroughly enjoyed researching and purchasing various apps that apply to the Real Estate Industry. Brian Olenik, from Fidelity National, was also very helpful in suggesting several apps that are beneficial. Good luck with your decision and have fun with these “toys”.
Kim Fontes
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SSFG: The Global Economy, US Housing Market & Big Announcements
Posted by Russ Schreier | Leave A Comment »
Published by Samuel Scott Financial Group
Global Economy
For what must be the umpteenth time, Europe’s financial crisis is continuing to evolve and present new problems. Elections in Greece and France saw opposition parties gain victories, parties whose agenda includes rejecting austerity measures in favor of attempting to grow their economy. This puts them at odds with Germany, who has bailed out Greece and has been carrying most the burden of keeping Europe afloat during this crisis.
Election fears and uncertainty has once again driven investors away from the riskier bonds of Europe and back into those of safe havens such as the United States, Japan, Germany, and Great Britain. This has driven American t-bill yields down once again (as it has for much of the past year), with the current yield on 10-year bonds being 1.80%. This is not 100% negative however, as lower bond yield means continued low borrowing rates for Americans, as 30 year mortgage rates track bond rates.
Housing Market
Ben Bernanke spoke at a conference in Chicago last Thursday and addressed the issue of banks being very picky about the loans they issue. Bernanke acknowledged that banks today are much healthier and have assumed less risk then they had during the housing meltdown of 2007-2009. However, he lamented the fact that many banks, in order to be more risk averse, have tightened underwriting restrictions on loans beyond what is necessary.
The Federal Reserve Chairman said that many banks are denying qualified applicants, and that unfortunately it is difficult to undue this process. According to Reuters U.S. Housing Secretary Shaun Donovan is quoted as saying 10% to 20% of qualified applicants are rejected because lending guidelines are just too strict.
On the brighter side, those who are currently purchasing homes are enjoying extremely low rates, the lowest of which are at or below 4.00%. Look for rates to move upwards towards the end of this year, but for now rates will remain in the low 4.00% range, especially with Eurozone issues driving rates downward.
Upcoming Announcements
The coming week is shaping up to be a busy one in the economy.
Tuesday, May 15th, is set to be the most important day of this week, as the Census Bureau is releasing retail sales data for April, and the Bureau of Labor and Statistics (BLS) publishes the Consumer Price Index. Retail sales for April will provide an insight into how much money is spent by consumers in the retail sector, providing an indicator as to whether or not Americans as a whole have money to spend. This index is important in determining the overall strength of the nation’s economy and what future trends in spending will be. The Consumer Price Index (CPI) measures the fluctuations in price of general consumer goods, and is used as a primary source in identifying inflation. Inflation has been growing at a slower rate each month since September 2011 and is currently around 2.65% annually.
Wednesday the 16th is the announcement date for both Industrial Production figures and Housing Starts and Building permits. Industrial production measures the fixed weight output of factories, mines, and utilities. In recent months manufacturing has made up the bulk of growth in our nation’s economic growth, so this will be important to determining the sustainability of our current growth. Housing starts and building permits will be published as well on Wednesday which will be a great indicator on the growth of the real estate market in the near future. Last month, building permits grew 4.5% but housing starts fell 5.8% in comparison to February date.
On Thursday, May 17th, we learn of the initial claims for April which measures the number of newly unemployed workers filing for jobless benefits. In 2012, the number of initial claims has continued to fall to a four year low of 368,000 per week.
Related Posts: Financial news, Industry Updates, Mortgage News
Rental Needed in Del Norte School District
Posted by Nancy Canfield | Leave A Comment »
Needed July 1
At the beautiful 4S Ranch
House in the Del Norte HS area for 1 year lease
Min. 3 beds, 2 baths, can go to $3500/mo
No pets
Prefer single story
Non-smokers
Please contact me at the following:
Nancy Canfield, Realtor
Ph:619-871-9333 fax: 858-676-1935
CA DRE License 01871784
Chosen by San Diego Magazine 2010-12 FIVE STAR “Best in Client Satisfaction”
Real Estate Agent, third year in a row!
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SSFG: May 7-13 Economic Forecasting Data
Posted by Russ Schreier | Leave A Comment »
Published by Alex Manessis and Russ Schreier of Samuel Scott Financial Group
Last week the Non-farm payroll statistics were released and the data was underwhelming. Although unemployment dropped to 8.1%, mainly due to a shrinking labor force, the rate at which jobs were added to the economy fell for the second straight month. In April the economy added 115,000 new
jobs, down from +121,000 in March and the December-February average of +246,000. On Friday, markets reacted poorly to the payroll press release, resulting in American and European stocks, the Dollar, and German Bund futures (the bund is equivalent to US T-bills) all taking a hit. Additional last week’s Chicago Purchasing Managers Index slipped from 62.2 in March to 56.2 in April, meaning that businesses are still growing just at a slower rate than in previous time periods.
Now for the positive news, the American economy is growing, even if it is at a slow pace. The same cannot be said for Great Britain, who has now entered a recessionary period, and many of Europe’s other nations who continued to be haunted by the debt crisis. This growth is reflected in manufacturing sector, which according to Institute for Supply Management is the strongest it has been since last June. April’s manufacturing PMI was at 54.8 (on a scale of 100, with greater than 50 indicating growth), greater than the index’s 12-month average of 53.2 (see table below). Many of the jobs that were
added to the economy were manufacturing jobs, a sign in favor of economic optimism.
Another interesting development was the meeting of the Chairpersons of the Federal Reserve Banks of San Francisco, Atlanta, and Philadelphia. Although usually diverse in opinion, all three agreed that the
third round of quantitative easing should be put on hold for the time being. “Quantitative easing” is a policy by which the central bank (Federal Reserve) purchases financial instruments and in doing so injects excessive reserves into the banks, which in turn increase their ability to lend. The heads of these 3 Federal Reserve banks agreed that the need for a third round of quantitative easing (dubbed QE3) is not needed for now, mainly due to growth in the economy, shrinking unemployment, and general optimism about the direction the economy is headed. Their current inclination is to save QE3 for a rainy day, and when coupled with a desire to limit inflation (an effect of quantitative easing) they have
decided the move aside for the time being.
For the week ahead we have a handful of economic indicators and press releases scheduled. Monday the 7th Consumer Credit data is published, Wednesday the 9th is Wholesale inventories data, and Thursday the 10th is the announcement on our current trade balance. All three, while important, will have minimal impact on the outlook of the economy.
On Friday May 11, the Bureau of Labor Statistics will release the Producer Price Index (PPI). This is the most important of the week’s announcements, giving insight into the prices received for goods
produced. This is one of the most effective ways to measure inflation in the real world and gives us a sense where we can expect prices to head in the near future. March showed no changes in prices according to the index, and YTD the index has shown .5% increase (translating to almost 2% inflation). This information will be a market driver going into Mother’s Day weekend so stay tuned for more information.
Related Posts: Financial news, Industry Updates
Sad House! Happy house!
Posted by Adrienne Dimeno | Leave A Comment »
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Why It Is So Important That Your Home Is Correctly Priced and Marketed Properly “…you need to beware of agents who set the list price on homes at unrealistically high levels simply to get listings…”
While many agents may promise to sell your home for the money you want, the reality of the real estate market today is that this simply doesn’t always happen. The fact of the matter is, the majority of homes sell for a price which falls short of what sellers may have been lead to believe. There are two factors at play here. On the one hand, you need to beware of agents who set the list price on homes at unrealistically high levels simply to get listings. This is really unfair because it can set homeowners up for disappointment and failure. On the other hand, you have homes that are priced correctly, but are marketed ineffectively. Without a proper marketing program in place to ensure a home is exposed to the highest number of qualified buyers, many homesellers feel forced to accept a lower offer. There’s nothing worse to a homeseller than to have their home sit unsold for many months because of improper pricing and/or marketing techniques. Needless to say, either of these situations is highly frustrating to any homeseller. But more than that, it can be financially crushing if you’re counting on the full proceeds of the sale of your home to fulfill some other obligation. To prevent this scenario when selling your home here are some points to consider before choosing the agent you want to represent you. Deciding Upon an Agent A good agent knows the market and has information on past sales, current listings, a marketing plan, and will provide their background and references. Evaluate each candidate carefully on the basis of their experience and qualifications. Are they pricing your home correctly? Home prices are determined by the marketplace not by your emotional attachment or by what you feel your home is worth. You should work closely with an agent who will suggest establishing a realistic price for your home. They will help you to objectively compare the price, features and condition of all similar homes in both your neighborhood and other similar ones which have sold in recent months. It is also important to be familiar with the terms of each potential sale. Terms are often as important as price in today’s market. Do they set themselves apart from the others by offering innovative marketing plans to sell your home fast and for top dollar? Will they set up an aggressive marketing program to ensure your home is exposed to hundreds of qualified buyers? How much money does this agent spend in advertising the homes s/he lists versus other agents. In what media do they advertise, (newspaper, magazine, TV. etc.) Do they use “For Sale” signs, lock boxes, a Tour of Homes program, and Talking House signs and transmitters? What does this agent know about the effectiveness of one medium over the other? |
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