Public Service Announcement

For all my fellow Georgians: please consider following Georgia law and TURN ON YOUR HEADLIGHTS when it is raining. It blows my mind how people (quite often in silver or white cars that 'disappear' in the rain) don't a) realize that it is a good/safe idea and b) it's the law here in GA (and many other states). I saw one clueless girl with her hazards on (white car, on her cell, BTW) but no headlights. Gee, if she had just turned on her lights, her car would be visible to other drivers! What a concept! Just a rant on a rainy day... Be safe/keep dry! Cheers, Bo

Clark Howard is WRONG!

See my comments on his show notes... Funny, another GA attorney must have received the AM 750 email blast and put in his 2 cents as well! LOCK TODAY!

Good News/Bad News again...

Good news: February home sales are UP! Bad news: sales levels were still as low as in 1963 (for January). Bottom line? Things are starting to pick up--sales are up, prices have creeped up, rates are still low... for now! With all the money printing going on in DC, the dreaded "I" word will HAVE to rear its' ugly head someday soon. Yep, INFLATION. So, if you are on the fence, BUY NOW. If you are waiting to refi because you're waiting on another 1/8 point drop, STOP IT--go ahead and LOCK and save the drama!

Take a 100,000 loan (for this exercise, I am computing interest ONLY). At 4.875, the monthly interest portion would be $406.25. At 4.75% it falls to $395.83 and 4.5% it drops further to $375. So riddle me this-is it worth waiting and waiting in hopes that it drops to 4.5% (which it may, to be honest) or get nailed when it goes back over 5% (that would = 416.66). Why not just lock today as you a) will have a guaranteed LOW rate (i.e. don't get too greedy) and b) you can still get a loan based on current lending standards (underwriting standards change so often it can make your head spin!). I guess that would be the 'bird in hand' theory for mortgage rates. Who knows, if rates truly do drop, maybe you can refi again! But if you're sitting there at 5.75% or higher, what the heck?

While we're at it, click HERE for an AWESOME house!

Positive News Alert!!!

Who says things aren't looking up? Yesterday it was Wall Street (stocks closing over 390 points higher), today it's one of Coca-Cola's economic forecasters. I love the quote per the AJC, attributed to Carlos Herrera: "2009 is survival... If you show up at the end of 2009, you're doing well." I know that he represents a different industry than mine, but it is a positive report and you know I'm all about the positive! Another reason for the rally was positive news about Citigroup (they evidently tossed out the P word--PROFIT). Likewise, Fed Chair Bernanke's comments at the Council on Foreign Relations outlined potential new regulations for the financial markets which seemed to be confidence-inspiring. And finally, it may be time to buy some Ford stock as they hammered out some necessary concessions with the UAW. Hourly wages will drop to roughly $55/hour which comes closer to foreign builders' wages, which are in the $48-50 range. Will GM be next or will they have to file Chapter 11 (reorganization) Bankruptcy? One odd thing--it's funny to start beating on your chest and say "Buy American". Do you know that the auto with the highest percentage of US-made parts is actually build in CANADA? (that would be the Ford Crown Victoria). Hondas built in Ohio have over 50% US-made parts/assembly (but it's still considered "foreign" to the masses). Ditto for Toyota's Camry and Avalon built in Georgetown Kentucky. Crazy stuff, eh?

Fun times with Newsletters

I just tried iContact to send my newsletters. So far I am pretty pleased! I hope that you are signed up to receive it (if not, click on the link at the bottom of the page) and I will get you added! It's better looking than my old newsletter and it allows me to track results. So far so good. If you end up joining them, make sure to use me as a referral : ) I will be putting more content on my blogs (info from my newsletters, at a minimum). I often blog 'between newsletters' if something gets me excited (positive or negative). Heading out for the evening; looking forward to that crisp, clean air (esp. since we're back in the 50's here in ATL : ) Cheers, Bo