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It's a Small World After All

 

These days, that sentiment is more than just a Disney song, as events in Europe continue to impact our markets. If you've been wondering what's been going...and what things mean for home loan rates, here's the scoop.

First, it's important to remember that when our economy is struggling, our Bond Market usually benefits as investors seek a safe haven for their money. And since home loan rates are tied to Mortgage Bonds, our home loan rates are sometimes at their best when our economy is struggling. In a way it makes sense...in times of economic struggle, good home loan rates can help kick start our economy in other areas.

What's more, our Bond Market–and therefore home loan rates–also often benefit when the global economy is struggling, as investors overseas see our Bond Market as an ultra safe haven for their money. This has happened throughout recent months as Greece and several other countries in Europe have been facing a debt crisis, with Greece approaching default. However, in late October an agreement was finally reached for addressing the Greek debt crisis and this story continues to develop.

So what does this mean for Bonds and home loan rates?

If the news out of Europe remains positive, Bonds and home loan rates here in the United States could face additional pressure. However, if there is pessimistic or uncertain news, investors may return to the safe haven of Bonds, meaning home loan rates could benefit. The most important thing to remember is that now is still a great time to purchase or refinance a home, as home loan rates remain near historic lows. Let me know if I can answer any questions at all for you regarding this or anything you may be wondering about.

 

 

AFGANISTAN TO CARPINTERIA ON TRUST

 

A wonderful young woman was referred to me by a friend as she wanted to buy a condo in Carpinteria and have me represent her.  No problem…do it all the time.  There was one significant detail that made it more unique.  She was currently working in Afghanistan.

 

I put her on an automatic email listing of appropriate properties.  One day two months ago, she sent me a message that she had seen a unit she liked, could I please check it out.   I did the next day, sent tons of photos and my positive evaluation.  She said “I want it.”  I crafted a compelling offer that enabled us to beat out two other buyers, and after daily (11 hr time difference) messages and the electronic transference of paperwork, I was holding the key to her new home which she purchased sight unseen in two weeks. She arrived later that month and was delighted to be able to move in and enjoy it before returning overseas. “I will be so happy in Afghanistan now, thinking about how I have my home!!!”    

 

Real estate representation is based upon trust.  I consider it an honor every time a  client trusts me to put their needs first and get them the best deal possible in today’s    market.  I hope that you will also trust me with your repeat business and referrals.

 

P.S. If you or a friend (anywhere in the world) would like to receive automatic updates about listings in our Multiple Listing Service, I would be happy to set it up.    Joanne

 

 

 

 

 

 

 

THE HOWARD GATES AWARD OR... "THE ESCROW FROM HELL!"

  

 

 

Charity

 WE CALL HIM HOWIE 

 Each year since 1954 the Santa Barbara Association of Realtors has honored one Realtor that has through extraordinary effort completed an extremely challenging escrow. In 2009  this "honor" was mine.  I am pictured here with my client who nominated me.

 

Truthfully, in these times, almost all deals are complex and challenging, but when the review committee heard about this particular transaction, they decided it merited recognition.

 

It is always very special when your colleagues recognize your efforts. I dealt with a complex parcel, challenging financing and stressed sellers any one of which might have qualified for the award.