The Renton Wa Realtor Blog !: September 2009

A Simple Explanation Of The Federal Reserve Statement (September 23, 2009 Edition)

The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent.

It also reiterated plans to support the mortgage market to the tune of $1.5 trillion.

In its press release, the FOMC noted that the U.S. economy is "picking up following its severe downturn" and that financial markets have "improved further".

It's the second consecutive post-FOMC statement in which the Fed appears somewhat optimistic -- a signal that the recession will end soon, or has already ended.

That said, the economy still has some soft spots and the Fed made a point to single them out. Each poses a distinct threat to economic recovery.

1. Ongoing job losses
2. Sluggish income growth
3. Tight credit conditions

Also in its statement, the Fed confirmed its plan to hold the Fed Funds Rate near zero percent "for an extended period" and to honor its $1.25 trillion commitment to the mortgage bond market.

However, the FOMC changed its timeframe on the mortgage-backed bond buys, extending its deadline to March 2010. This move should help the Fed keep mortgage rates from rising too high as the economic expansion takes hold.

Market reaction to the Fed's press release is positive. After an early day sell-off that drove rates higher by about a quarter-percent, most of the pressure is easing. Pricing is worse on the day overall, but well off its lows.

The Gary McNinch Team home website is www.RentonHomeFinder.com My twitter handle @RentonHomeFinde Our facebook page is Gary McNinch on Facebook My Active Rain website is Gary McNinch Team on ActiveRain Gary McNinch Team Realtor Renton WA Real Estate Keller Williams Realty Renton WA. Call us 206-696-2329, email Gary@GaryMcNinch.com Serving Renton, Kent, Auburn, Newcastle, Skyway, Fairwood, Renton Highlands and Kennydale.

Please tweet us, text us, or send us a snail mail. We like to hear from our many satisfied clients.

Oh and PS .. The FOMC's next scheduled meeting is November 3-4, 2009.

City of Renton just opened the Cedar River Off Leash Dog Park. I was looking at homes in Fairwood the other day and swung by to take a look. Nicely done.

Kudos to the city and the RUFF (Renton Unleashed Furry Friends) volunteers who raised money and worked on this project. And sometimes it' s important to remember that some people love their dogs more than their kids.

Here's a link to the Renton Reporter article. Renton dog park opens with a bark

Whether you are buying a Renton home mostly for you or mostly for your pets we are glad to help.

The Gary McNinch Team home website is www.RentonHomeFinder.com My twitter handle @RentonHomeFinde Our facebook page is Gary McNinch on Facebook My Active Rain website is Gary McNinch Team on ActiveRain Gary McNinch Team Realtor Renton WA Real Estate Keller Williams Realty Renton WA. Call us 206-696-2329, email Gary@GaryMcNinch.com Serving Renton, Kent, Auburn, Newcastle, Skyway, Fairwood, Renton Highlands and Kennydale.

Please tweet us, text us, or send us a snail mail. We like to hear from our many satisfied clients.

So here is the way it is supposed to work....  I'll tell you the rest of the story at the end.

Opened AR a while back, and look what I see .....   CONTACT FROM SOMEONE REFER SELLING THEIR HOME...

So I am excited, ready to go, always like to list and sell a great Renton home.   

 

 

SCROLL DOWN FOR THE REST OF THE STORY.................

 

 

 

 

 

So..  These folks are my neighbors 3 blocks away, in my geographical farm area, I helped them arrange a refi a few years back...  I remember when their baby was born....  I wave at him a couple times a month as he drives by.

  INTERESTING.... rather than call or walk down the street, she googles me and AR pops us and she sends me an email through AR.   

We love our customers and nice when they find us on Active Rain.   Just another value of Social Networking. (and having great neighbors)     and watch for a great townhome for sale soon

The Gary McNinch Team home website is www.RentonHomeFinder.com

My twitter handle @RentonHomeFinde

Our facebook page is Gary McNinch on Facebook

My Active Rain website is Gary McNinch Team on ActiveRain


Gary McNinch Team Realtor Renton WA Real Estate Keller Williams Realty Renton WA. Call us 206-696-2329, email Gary@GaryMcNinch.com Serving Renton, Kent, Auburn, Newcastle, Skyway, Fairwood, Renton Highlands and Kennydale tweet us, text us, or send us a snail mail. We like to hear from our many satisfied clients.

 

Great article from Todd Clark Beaverton Oregon Realtor.   It pretty well sums up a conversation I had with a client this evening.  The value to our clients has become very evident now.  I am glad when one of them tells me "Gary you are just the best."

Thanks Todd for stating it so well.   No wonder you sell so many homes.

Find us at www.RentonHomefinder.com.

 

Ben Bernanke Leaves Clues About The Future Of Mortgage Rates

On the 1-year anniversary of the Lehman Brothers collapse (CAN YOU BELIEVE IT HAS ALREADY BEEN A YEAR), Fed Chairman Ben Bernanke said Tuesday that the "recession is very likely over at this point".

His comments were supported by a Retail Sales report for August that was much better-than-expected.

Equities improved on the day, mortgage markets worsened, and Renton home affordability suffered.

The days of ultra-low Renton mortgage rates may be coming to an end.

Since last September, mortgage bonds markets have been in Rally Mode. As the Financial Crisis of 2008 worsened, investors fled the relatively risky world of stocks and moved dollars into safer investments like cash and bonds -- including the mortgage-backed kind.

Risk aversion is common when market uncertainty exists but last year's aversion was so strong that, by late-November, it had forced mortgage rates down to an all-time low.

Since November, however, rates have been on the rise. Stronger economic data and a NATIONAL general feeling of optimism have helped stock markets recover and some of those gains are coming at the expense of low mortgage rates.

Therefore, if you're wondering what mortgage rates might do going forward, listen to the words of the Federal Reserve Chairman. If he sees economic recovery ahead, it's probably going to happen.

It should spell higher mortgage rates into 2010. In fact my guess is rates will be in the middle 6's by next summer. And my personal opinion is that the economic slowdown-recession-depression or whatever you want to call it in the Puget Sound is not over. It is going to be another year or two and many local families are going to struggle. Our area entered the depression late and we may be the last to come out of it.

Give us your thoughts about the local economy and we will talk about the Renton Real Estate economy. The old adage, as most are, is true "Real Estate is Local".

Our thoughts from the Gary McNinch Team Renton Realtors.

The Gary McNinch Team home website is www.RentonHomeFinder.com

My twitter handle @RentonHomeFinde

Our facebook page is Gary McNinch on Facebook

My Active Rain website is Gary McNinch Team on ActiveRain


Gary McNinch Team Realtor Renton WA Real Estate Keller Williams Realty Renton WA. Call us 206-696-2329, email Gary@GaryMcNinch.com Serving Renton, Kent, Auburn, Newcastle, Skyway, Fairwood, Renton Highlands and Kennydale tweet us, text us, or send us a snail mail. We like to hear from our many satisfied clients.


Thank You