What Goes Around Comes Around

Yeah, we're (Real Estate Folk, Buying Folk, Selling Folk and Ordinary Folk) in a quandry...

Times have never been like this before...

Check this out...

http://livingindoors.com/Documents/What%20goes%20around.doc

Pete

Foreclosure Solutions Fair

November 18, 2008
Fair to Focus on Foreclosure Solutions

By Kevin Duggan

For Loveland Connection

The economic meltdown continues to hit too close to home for many Northern Colorado residents.
With foreclosures in Larimer and Weld counties on the rise, organizers of Saturday's "Foreclosure Prevention Assistance Fair" at The Ranch hope local residents will come out to learn what they can do to keep their properties.
The fair is scheduled 9 a.m. to noon in the First National Bank Exhibition Hall.The goal of the fair is to inform homeowners about options they have if they are worried about making mortgage payments, face foreclosure or are already in the foreclosure process, said Billie Jo Downing, chairwoman of the Foreclosure Prevention Task Force of Larimer County."The fair is a wonderful way for people to see that somebody cares about what happens to them," she said. "They need to know there are ways to reach solutions."Many property owners walk away from their homes when facing foreclosure without seeking assistance, Downing said.Those who do seek help are much more likely to keep their homes or find a workable housing situation, she said."Just taking some action to find information is a huge step in the right direction," she said.Government agencies, as well as local nonprofits, such as Neighbor to Neighbor and Consumer Credit Counseling, will have booths set up at the fair to offer advice.Seminars will include information on topics such as how to pay bills while facing foreclosure and how to communicate with a mortgage company.Housing counselors will be on hand to answer questions or set up time for more in-depth interviews, said Wendie Robinson, executive director of Neighbor to Neighbor.Given the scope of problems within the housing industry, lenders are increasingly willing to renegotiate mortgages, Robinson said. But problems need to be addressed as quickly as possible."If things have gone too far it gets tricky," she said.Colorado ranked fifth in the nation for the number of houses in foreclosure in October.As of last week, 1,391 Larimer County homeowners were in some stage of foreclosure, according to the Larimer County Public Trustee's Office. Of those, 459 were sold at foreclosure sale, 343 were withdrawn and 589 are still in process.Additional Facts
Interested?
The Foreclosure Prevention Assistance Fair is scheduled from 9 a.m. to noon Saturday at the First National Bank Exhibition Hall at The Ranch, Larimer County's fairgrounds complex.Information: Angela Dazlich, Colorado Foreclosure Hotline, 420-2943, or Meaghanne Oresjo, Neighbor to Neighbor, 663-4163

Good News in the Coloradoan!!!

A pretty good article from the Coloradoan!
The ! is not an indictment of the Coloradoan saying their articles are not good...it's just a comment on the goodness of this one!!!

November 17, 2008

There's good news in midst of all the gloom

Jim Clarkjclark@ftcollins.com.

Tired of election and economic news? Worried about your 401(k), or as a friend calls it, your 201(k) now? Cheer up! I've got good news.
Seventy-five percent of the contribution to a recession is attitude and emotion. People stop spending out of fear, and the domino effect kicks in.
Pretty soon, businesses are all laying workers off to stem the tide from a lack of spending, which, of course, contributes to a greater decline in spending.
Think back to the summer. What was the greatest economic concern in the mind of the public?

Gas prices, of course. At the time of writing, gas at the pump was under $2 a gallon for the first time in years. People were traveling closer to home or canceling trips due to the rise in fuel and transportation costs, which for now, have become much less expensive.
This is an unintended stimulus package for anyone who drives a car or uses heating oil. And the lowered cost of oil should keep inflation at bay for a time.
More good news: We're not in a heavy manufacturing town. Our economy is diversified, and the Colorado economy entered the recession earlier than other parts of the country and should come out faster. We've not seen the huge swings in residential real estate values. And we have a major institution that tempers economic swings, Colorado State University.
Colorado has long been a state that tends to defy national trends to some degree, and our emphasis on new forms of energy, research and tourism helps bolster our economy during this time of uncertainty.
If you really want to be upbeat, follow the Rams. Coach Steve Fairchild has achieved surprising success with his football team this year, even in losses against BYU and TCU. We still have one of the best women's volleyball teams in the country, thanks to Tom Hilbert and his outstanding athletes.
Want more? Lower gas prices and strong convention bookings next year should boost our summer. Campus Crusade for Christ and Jehovah's Witnesses return in 2009, groups which should draw well in spite of the economy. If you want to get in on the tourism industry next year, it's a great time to consider joining our organization (the Fort Collins Convention & Visitors Bureau, known as the CVB). It's also a great time to participate in our visitor guide. Promote yourself while others cut back.
And if you really want to do your part, shop locally this year.
I haven't made a purchase outside of Fort Collins in years. Everything I need and want is available here; follow the lead of our collective community efforts and "Shop Fort Collins First."
It will put you in a better mood.

Mason Street Corridor

The Mason Street Corridor is one of the best kept secrets about Fort Collins. I've been excited about it happenin' since I found out about it.
I've been telling myself for a couple of years now that I need to acquaint myself with the Bus system here in FTC but have just not got around to it, but I'm really looking forward to the Mason Street Corridor coming to fruition.
Having lived in the Pacific Northwest I can remember riding on the Monorail in Seattle when the World's Fair was held ther back in 1960...yeah, I'm old. And as I belong to this outfit that has rather large conventions in pretty big cities I've taken mass transit to get to where I needed to get to and In Washington, D.C. a couple of years ago I rode my first subway.
Well, Mason Street Corridor is not going to be a monorail, a subway or an "el".
Follow the link to the Fort Collins Web Site page that speaks to MSC and be sure you watch the video on the right part of the page...I think you'll be impressed.
http://fcgov.com/mason/

Pete

The Fed & Mortgage Rates...

The Federal Reserve has just lowered interest rates to 1% causing yet another stir in the minds of people who are thinking about buying or re-financing a home.
"Wow! 1%! What a deal!!!"
Well for *artificial people* maybe but not necessarily for you and me.
The "Federal Reserve Rate" of 1% is what the Federal Reserve, which contrary to popular belief is not an arm of the U.S. Government or the Treasury Department, loans money on a short term basis to banks...one "artificial person" loaning money to another "artificial person".
The second "artificial person" then loans out that money to other "artificial people" or "real people" at a rate higher than they are borrowing it from the Fed (Federal Reserve Board) and the difference between the borrowed rate (1%) and the "lend rate" is how they make their money. This is manifested typically in short term loans, like credit cards.
Consumers, therefore. are often misled, i.e. duped if you're a cynic like I can be at times, by that artificial person "Media". In the past few years the Fed has taken actions that have, however, caused mortgage interest rates to change (or "move" if'n you're so inclined to have that make more sense) in directions that have been something other than expected because the "Media" provided less than substantial reporting on the subject.
The Fed affects short-term interest rate maturities, the Fed Funds rate and the Overnight Lending rate (Google or Wikipedia for more info on those terms). These factors have a direct impact on the Prime Rate. If'n you only took this into consideration, one might mistakenly arrive at the conclusion that changes by the Fed would cause a similar movement in mortgage interest rates. howsomever, mortgage interest is dictated by the trading of mortgage-backed securities which trade on a daily basis. Therefore the real dynamic at the heart of interest rate movement is the relationship between stocks and bonds.
Stocks and bonds compete for the same investment dollars on a daily basis. In spite of the advent of printing presses, there really is only soooooooo much money to be invested. When the Fed feels that interest raters need to be decreased in an effort to give the economy a kick in the pants, the reduction in rates can often cause a stock market rally. When the market becomes a bull market (Wikipedia) the money to invest in stocks comes from the selling off of mortgage-backed securities (Wikipedia).
Unfortunately, the selling off of mortgage-backed securities to fire up stock market rallies causes interest rates to go up not down!
Historically, there have been many times when the Federal Reserve has increased interest rates...then stocks sell off in fear that the increase will adversely affect the profits of the artificial people "Corporation(s)" and the resultant investment capital needs a place other than in a mattress to park itself until the next rally comes along. This is often found in mortgage-backed securities which cause mortgage rates to drop.
Whew..............................................

That all takes some digestion and if'n you'd like some more information I can put you in touch with some folk who can better 'splain.

Pete