The Schaller Family's Blog

The Schaller Family

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Displaying blog entries 11-20 of 561

The worst is over?

     With housing recovering slowly, most economists predicted in a recent survey that it would take at least five years for average home prices to climb back to the levels they commanded in 2006. This year, some hard-hit areas may see another dip, but properties values will most likely rise.                  

                           

    "Softness in the summer months will be followed by firming conditions and momentum as the year unfolds and the economy strengthens," says Robert Denk, an economist for the National Association of Home Builders.

     However, analysts at Moody's Analytics say that the possibility of double-dip recession and another 20 percent decline in home prices has risen to about 25 percent.

Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

alltruckeehomes.com

Still another Fed mortgage helper

          The next one is considered without much substance.   The Fed is advertising that if someone’s home is 25% below the homes initial value and it is a Fannie Mae or, Freddie Mac loan the lender is required to re make a loan for a 25% reduction in the original value.

 

  Most professional people looking at this program think that lenders can’t be forced to make a loan by reducing the home value by 25%.  Could it be that the politicians in Washington are trying to garner points even if their bills are not founded on sound judgments, as a forerunner to a tough presidential election?

           I don’t know about you but, I’m getting tired of ill thought out ideas that are costing a lot of money that we and our grandchildren will be saddled with for generations.

 Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

Alltruckeehomes.com

Home prices are firming

The trend in firming home prices solidified in the second quarter with more metropolitan areas showing increases from a year ago, aided by a surge in home sales driven by the home buyer tax credit, according to the latest survey by the National Association of REALTORS®.

In the second quarter, 100 out of 155 metropolitan statistical areas (MSAs) had higher median existing single-family home prices in comparison with the second quarter of 2009, including 14 with double-digit increases; two were unchanged and 53 metros showed price declines. In the first quarter of this year 91 areas had higher prices, while only 26 MSAs experienced annual price gains in second quarter of 2009.

alltruckeehomes.com

We're here but a short time

It strikes me that we have a very tenuous grip on this thing called life.  One never really knows when the last embrace of a loved one may be the last one we give or receive.  The one enduring value we human beings understand, whether we be Arabic, French, German or, Chinese, is LOVE.  It radiates from us through our eyes and the energy that we give to our fellow human beings.  No language is necessary. 

          I encourage us all to remember our tenuous grip on this thing called life, as time is never negotiable, and to take the time to look into the eyes of our mates and friends, often, and say from the heart, I love you.  Namaste

Don Schaller

alltruckeehomes.com

 

Mortgage rates down, as GDP is revised lower

     Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), with the 30-year and 15-year fixed-rate mortgages reaching record lows for this survey. The 30-year fixed-rate mortgage (FRM) averaged 4.49 percent with an average 0.7 point for the week ending August 5, 2010, down from last week when it averaged 4.54 percent. Last year at this time, the 30-year FRM averaged 5.22 percent. The 15-year FRM this week averaged a record low of 3.95 percent with an average 0.6 point, down from last week when it averaged 4.00 percent. A year ago at this time, the 15-year FRM averaged 4.63 percent.
Don Schaller
Broker Owner
Schaller Family Realtors
Dickson Realty Truckee

THE INSIDOUS HITCH HIKERS ZEBRA/QUAGGA MUSSELS

          Twenty or more years ago Russian cargo ships entering the Great Lakes  ejected their bilge water into the lakes.   Thus began the transfer of the foreign mussels and clams into a new home.  Reproducing at a phenomenal rate they have virtually changed the hydrology of the Great Lakes and started the spread of an aquatic plague throughout the United States.  Female Quagga mussels produce about a million eggs of which about 20,000 reach maturity.

 

The bulk of the spreading occurs from pleasure boats that go from lakes to rivers to steams where they collect the larva and transfer it to the boats next destination.  The northeastern U.S. is now infected to the point where it is arguably impossible to irradiate the threat.  The river systems of the east as well as feeder streams have thus been infected.

           The West Coast was thought to be protected due to various nutrients in the water but, such was not the case.  The Colorado River system has been infected to the extent that it seems impossible to repair. 

           The damage that organisms do is clog all pipes under the water.  Cover the floor of the water ways up to a foot with clams and mussels and cover anything that is on the bottom and ruining boat  motors along the way.  The menace destroys all natural fauna and indigenous aquatic  organisms. 

            On an approximate 3 year cycle, a great die off occurs which finds a one foot deep pile of sharp shells that are so sharp that shoes have to be worn to avoid cutting bare feet. Thus ruining beaches as a place for guests.  Probably the most objectionable feature, however, is the accompanying stench.   It is not difficult to understand what this situation does to summer vacation resorts.

           California is just now recognizing the effects of this threat.  Probably the most difficult  challenge to overcome, is the publics lack of knowledge of the critical problem and its future implications on our California water systems and the environmental health of communities.  These organisms have found their way into the sacred of sacreds, Lake Tahoe, as well as Donner Lake.  In these newly identified areas it is not clear the extent of the contamination as divers must go down and physically inspect the bottom to determine the extent of the infestation.  These inspections are planned for the fall months in The Lake Tahoe, Truckee area 2010.

           Up until now there is no known eradication method that has proved effective. One method that seems to work on clams in Lake Tahoe has been to put a quarter acre rubber mat on the floor of the lake in infected areas for 2 or 3 months.  This procedure deprives the clams of oxygen thus eliminating the organisms.  This is a new process that is just now being tried.  If it is successful, then the process will be expanded.  However this process does not seem to work on mussels.  Many scientist from UNR Nevada, UC Davis, Cal Berkley and other institutions  are working on the problem.

           The best protection so far is to inspect boats and trailers before launch in the various lakes in the Tahoe, Truckee area.  7 inspectors have been employed thus far for this purpose.   Some lakes, mostly in Southern California, have been closed to boating  altogether including some in the San Francisco Bay Area.  Boats from out of state have been banned  altogether from  lakes. 

           The only effective method of assuring that boats and equipment are free of the mussels and clams is to wash everything with 140 degree water after use.

           More information can be gotten by contacting two newly formed  organizations dedicated to controlling these pests in our mountain lakes and streams.   They are, ZAP THE ZEBERA 1-877-786-7267 and 1-866-440-9530 and, http://www.dfg.ca.gov/invasives/quaggamussel ( State Department of Fish and Game)

  

Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

alltruckeehomes.com

June Construction spending increases

     Construction spending in the U.S. unexpectedly increased in June, boosted by gains in government programs that made up for declines in private residential and commercial projects.  The 0.1 percent increase in outlays followed a revised 1 percent drop in May that was larger than previously estimated, figures from the Commerce Department showed today in Washington. Homebuilding and sales are falling after the expiration of a government tax credit that boosted builder sentiment and brought starts to the highest level in more than a year in April. Demand will now depend on the state of the labor market and foreclosures.
 
Economists forecast construction spending would decline 0.5 percent, according to the median of 52 projections in a Bloomberg News survey. Estimates ranged from a drop of 2.1 percent to a 0.5 percent gain. Construction spending decreased 7.9 percent in the 12 months ended in June.

Congress restores funding for rural housing

    Last week, Congress passed legislation to restore funding to the 502 single-family rural housing program. The legislation will increase the guarantee fee for borrowers (but still allow it to be financed), which will make the program self-sufficient. The legislation also increases the commitment authority so Rural Housing Service can formally guarantee loans (they had been providing conditional commitments).

 
   Also, the House Financial Services Committee approved H.R.4868, the Housing Preservation and Tenant Protection Act of 2010, which aims to stem the loss of affordable rental housing units and prevent the displacement of low-income tenants.
 
    The Rural Housing program had run through its $13.1 billion funding by early this year and many buyers hoping to finance home purchases using Homebuyer Tax Credits were unable to close their loans. Depleted funding has been a nearly annual occurrence for the program that guarantees loans for single-family homes in designated exurban and rural areas. The new legislation will end the annual uncertainty by putting the program on a self-funding basis through enacting a 3.5 percent guarantee fee paid by the borrower.  The fee, while substantial, can be included in the total amount financed.  
 

Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

alltruckeehomes.com

Home prices remaining firm first 5 months

 

According to major home pricing sources, home pricing nation wide are gathering strength.  no big surges but, at least prices are showing strength in the last 2 quarters.  It is one thing to show movement nation wide but, we here on the firing line have seen strength in our personal businesses  in our Lake Tahoe, Truckee communities.

                           

Data through May 2010, released by Standard & Poor's for its S&P/Case-Shiller Home Price Indices show that the annual growth rates in 15 of the 20 MSAs and the 10- and 20-City Composites improved in May compared to those reported for April 2010.
 
The 10-City Composite is up 5.4% and the 20-City Composite is up 4.6% from where they were in May 2009. While 19 MSAs and both Composites reported positive monthly changes in May over April, only 12 of the MSAs and the two Composites saw better month-over-month growth rates in May than those reported in April.
 
While still positive, Boston, Charlotte, Cleveland, Dallas and Denver reported weaker annual growth rates compared to their reports from last month. Seven of the 20 MSAs are still reporting negative annual growth rates with May's data.

 

Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

alltruckeehomes.com

Fed chips in 1 Billion to unemployed home owners

           Congress has just come up with 1 Billion to help unemployed, behind in mortgage, home owners.   This assistance also includes people that have medical problems.  Under this provision home owners that are at least 3 months behind in their mortgage payments can get up to a $50,000 loan to pay their mortgage.

          These loans will be made available through The U.S. Department of Housing and Urban Development on October 1, 2010.

           This assistance should be able to help many families in the Truckee, Lake Tahoe region since local funds for this purpose are vary scarce or, non existant.

Don Schaller

Broker Owner

Schaller Family Realtors

Dickson Realty Truckee

alltruckeehomes.com

 

Displaying blog entries 11-20 of 561

Contact Information

The Schaller Family
Dickson Realty
11500 Donner Pass Rd.
Truckee CA 96161
800-660-0903
Fax: 530-587-8064