Archive for May, 2008
Stable Mortgage Rates Are In; Double Height Ceilings Are Out
May 27th, 2008 Categories: Mortgage Update, Real Estate News
With the official start of summer behind us, it seems the Federal Reserve is done with lowering interest rates as indicated in the recently released minutes of their last meeting.
If anything, the Fed’s next move would be a rate increase. That however depends on already existing inflationary pressures in the market and the government’s effort to stimulate the economy.
Bottom line - we may spend the entire summer waiting for some clear economic direction. Second bottom line - current mortgage rates make buying a home a very doable proposition.
Rob Clark, my go to guy at Preferred Mortgage, also offered the following tidbit: builders across the country are reporting that great rooms with double height ceilings are no longer in high demand for three reasons -
- Energy Concerns
- Increased Noise Levels
- Cleaning Challenges
Ummmm, does this mean real living rooms might make a comeback?
Michael
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Amazing Places to Live the Rest of Your Life
May 26th, 2008 Categories: Book Report, Real Estate News
In today’s debut Book Report, we’ll take a look at the latest offering by uber real estate tycoon, Barbara Corcoran, founder and CEO of the Corcoran Group.
Appropriately named Nextville, Amazing Places to Live the Rest of Your Life, Corcoran identifies 8 trends - and 100 places - that are changing the way people think about their ‘next’ house, whether making a life style change or in retirement.
As part of her research, Corcoran conducted an on-line survey through the Trulia Web site to establish what baby boomers were looking for in their ideal retirement location. Their top priorities:
- Safety
- Affordable Housing
- Good Weather
- Nice Scenery
- Friendly People
- Good Health Care
- A Nearby Airport
Not satisfied with these generic guidelines, Corcoran conducted another survey on whatsnext.com and asked what people dreamed about.
And that’s when the fun part started. Over 80% of respondents dreamed of pursuing a passion or engaging in something they loved to do and a majority also expressed a desire to be part of a like-minded community.
Corcoran notes that, for her (and I would imagine for many of us) the guts of the real estate business is matching up the right person with the right place based on his or her unique needs and personality. Using that premise and what she learned from the surveys, Corcoran establishes 8 trends that are determining factors for that next house and lists corresponding locations.
- Pursuing Your Passion - anything from golf to bird watching to books
- Forming a New Community - communes, 21st century style
- Living Young - emerging cities and college towns
- Living Green - ‘nuf said
- Losing Yourself - living abroad
- Finding Your Purpose - volunteering as a way of life
- Living the Boomerang Life - time shares, house swapping, RV travel
- Going Nowhere - and loving it!
Admittedly, Corcoran’s list of corresponding locations is not all inclusive but it’s enough to make you start thinking - and dreaming - and it’s a great marketing resource for agents.
Check your local Barnes & Noble store or online for availability and dream your own next place.
Michael
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Rolling Thunder Pays Tribute to Veterans in 21st Annual “Ride to the Wall”
May 25th, 2008 Categories: Things to Do
Today, as on 21 previous Memorial Day weekends, literally hundreds of thousands of motorcyclists made the “Ride to the Wall” as a part of the Rolling Thunder motorcycle rally in Washington, DC.
Gathering under a cloudless blue sky in the Pentagon parking lot, the ride moved north past the Lincoln Memorial, up Constitution towards the Capitol and back down Independence, to the Vietnam Veteran’s Memorial, known more simply as The Wall.
Started in 1987 by Ray Manzo, a USMC corporal who wanted to do something to bring attention to military personnel still classified as Prisoners of War (POW) or Missing in Action (MIA) in the Vietnam conflict, the rally has grown into a Memorial Day tradition as well as a political force for veteran benefits.
Riders - men, women, and children - travel from around the world and from all 50 states to pay tribute those who have died in service to their country. Rather than diminishing over the years as some early detractors hoped, this annual statement of support simply continues to grow.
Roll on . . .
Michael
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