Archive for February, 2009

Low Interest Rates… Don’t Blow YOUR Chance!

I generally don’t word titles as strongly as that…  But this is important.

Interest Rates on Mortages NEED to Rise…

It isn’t that we want them to rise, it is that the underlying structure is going to force rates higher.  Here are the things contributing to that coming increases…

The Congressional Budget Office stated that the massive borrowing for the new “Recovery” package will force out private borrowers.  Basically, mortgage borrowers will need to compete with the government for investor dollars.  At the same time, many of the big investors are backing out of the market because of their own economic ills…  China being the biggest of those investors.  Frankly, there aren’t that many ways to raise a trillion dollars.

So, just as supply and demand affects everything else, it affects mortgage rates.  The supply of money is bocoming tighter, and the demand for the same money is becoming greater.  When the demand starts outstripping supply, prices (rates) HAVE to go up.

There are two big things that go into the monthly carrying cost of a home…  Principle and interest.  Just to give a couple of examples…

So, even with a 10% or 20% drop in housing prices, we could be looking at dramatically higher housing costs.

“I’ll just rent…”

Let’s look back at supply and demand again…  If fewer people can afford to buy homes, and the cost of carrying a home is going up, rental costs will rise at the same time.  For the last several years, rents have been kept in check because of the ease of buying a home.  Basically, the landlords couldn’t jack rents because anyone could get a house.  If that is more difficult, landlords would be free to jack rents…  Currently, there is overhead inventory on rentals, but now construction is stopping on rentals, too.  That means that inventories won’t be increasing going forward.

Is there danger in committing to a home right now?  Absolutely.  And there is a danger in NOT doing so as well.  Of course, if you are a cash buyer, then there are reasons to wait if the economy continues to slow.  If you are going to be seeking a mortgage, and you are in a position to get approved…  I think there is less danger to worry about.

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Low Interest Rates… Don’t Blow YOUR Chance!

I generally don’t word titles as strongly as that…  But this is important.

Interest Rates on Mortages NEED to Rise…

It isn’t that we want them to rise, it is that the underlying structure is going to force rates higher.  Here are the things contributing to that coming increases…

Read the rest of this page »

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Peachtree Road Race Design Running Out of Time

ptreeroadraceshirtHave you ever wanted to have a piece of your artwork viewed by over 55,000 people in one day and kept in homes for years to come? Well, now is your chance to earn local and national fame.  The Atlanta Journal Constitution Peachtree Road Race design contest is under way and the deadline for submission must be postmarked by February 28th.

Here’s your chance to create the Peachtree Road Race’s biggest prize.

T-shirt design rules and entry form
Representatives of the Atlanta Track Club, The Atlanta Journal-Constitution and local artists will judge T-shirt designs. Five finalists’ designs will be selected and published in The Atlanta Journal-Constitution. The public will select the winning design.

The person who submits the winning design will receive $1,000 and have the design reproduced on the 2009 Peachtree Road Race T-shirt, distributed to runners at the race’s finish line. The four finalists who are not selected will each receive $100.

All entries must be postmarked by Feb. 28, 2009 and:

1. Designs should measure 12” x 12”.

2. Designs must be submitted on unlined white paper or illustration board. Designs must be created in: color markers, paint, color pencils, inks, chalks or crayons. Designs may be hand-drawn or computer-designed, but “clip art” is not allowed.

3. An official entry form (or facsimile) must be submitted with each design. DO NOT affix entry form to artwork.

4. DO NOT write on front or back of artwork.

5. Designs should include the race title, “The Atlanta Journal-Constitution Peachtree Road Race 2009″  It should be at the top of the design. The word “Peachtree” should be at least 2” high.

6. Color copies of original designs will be accepted.

7. All entries must be submitted together. Limit three entries per person.

8. Designs should be sent to: AJC Peachtree Road Race 2009

T-shirt Design Competition, Atlanta Track Club, P. O. Box 12109, Atlanta, GA 30355 9.

All entries must be postmarked by Feb. 28, 2009.

10. DO NOT send entries to The Atlanta Journal-Constitution.

Go make history.

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Peachtree Road Race T-Shirt Contest

ptreeroadraceshirtHave you ever wanted to have a piece of your artwork viewed by over 55,000 people in one day and kept in homes for years to come? Well, now is your chance to earn local and national fame.  The Atlanta Journal Constitution Peachtree Road Race design contest is under way and the deadline for submission must be postmarked by February 28th.

Here’s your chance to create the Peachtree Road Race’s biggest prize.

T-shirt design rules and entry form

Representatives of the Atlanta Track Club, The Atlanta Journal-Constitution and local artists will judge T-shirt designs. Five finalists’ designs will be selected and published in The Atlanta Journal-Constitution. The public will select the winning design.

The person who submits the winning design will receive $1,000 and have the design reproduced on the 2009 Peachtree Road Race T-shirt, distributed to runners at the race’s finish line. The four finalists who are not selected will each receive $100.

Read the rest of this page »

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Positive Economic News For Gwinnett County

Please see the link below for more Positive Economic News for Gwinnett County that benefits all of us. As we all have seen, heard or read, the economy is going through one of the most difficult times in recent memory, but we are here to spread the good news that is actually happening in Gwinnett County, Georgia and the good ol USA.

http://www.gwinnettchamber.org/In-the-News.inthenews.0.html?&no_cache=1&tx_ttnews[tt_news]=224&tx_ttnews[backPid]=89

Matt Hermes

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