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Archive for June, 2009
At the start of the year, the “experts” made a lot of predictions about the U.S. economy and what to expect in 2009.
- Some said housing would rise
- Some said housing would fall
- Some said mortgage rates would rise
- Some said mortgage rates would fall
And nobody predicted just how big the government’s stimulus package would be.
Now, on June 30, with the year officially half-over, it’s as good a time as any to remember that people are much better at interpreting the past than predicting the future. Economists can make educated guesses about the future, but they’re guesses nonetheless.
It’s like watching the Weather Channel. A meterologist can look at the data and say it’s going to rain next week, but the forecast is never 100%.
So far this year, mortgage rates have been up and down, credit availability has been higher and lower, and home prices have varied immensely from neighborhood to neighborhood.
There’s another 6 months until 2010 and there’s no reason to expect the current volatility and uncertainty to change.
The world is unpredictable and so is the U.S. economy. Therefore, consider making your personal finance decisions based on the information at hand today instead of on an educated guess about the future.
After all, the weatherman’s been wrong before.
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Harbin Woods Subdivision is a rustic, gated development located in Union County, Georgia . It features 65-70 home sites with paved roads, underground utilities and gentle lots. Harbin Woods offers close and long-range mountain views. Also located on the property is a 1 +/- acre pond, of which all lots have access to.
Harbin Woods is conveniently located within a two hour drive from Atlanta, GA Chattanooga, TN and Asheville, NC. It is within driving distance to Lake Nottely , a beautiful 4,180 acre TVA lake; and the towns of Blue Ridge Georgia , Murphy North Carolina, and Blairsville, Georgia. Please visit our Location page for more detailed directions.
Harbin Woods subdivision offers lots ranging between .91 acres to 2.19 acres and will vary in price from $19K to $76K. Please view our 
Plat/Lot Info page for a layout of the subdivision and the lot prices.
If you’re looking for a private, quiet subdivision with mountain views, Harbin Woods is just the place for you!
At the present time, the Owners and Developers of Harbin Woods are offering for a limited time, Owner Financing on all remaining lots within the development. This is a huge incentive if the prices weren’t enough.
Currently there are 38 Vacant Lots For Sale and 3 Homes For Sale within Harbin Woods. Just within the past 60 days there has been 1 Residential Sale and 1 Lot sale.
If you would like an additional information on any of the listings that you have seen in this post, please feel free to call me at 706.994.8686, or you Contact Me.
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In between visits from the exterminator, it’s not uncommon to see the occasional ant, spider or roach or insect around the house.
But what to do about it?
One solution is Terminix SafeShield, a new, eco-friendly home pest control product introduced earlier this year.
Formulated by an independent pesticide company, Terminix SafeShield is a non-aerosol bug spray whose active ingredients are all-natural. The formula is said to control 25 types of in-home pests and kills bugs fast.
Because of its natural composition, SafeShield is safe for use around kids and pets — a huge advantage over chemical-laden, off-the-shelf products. However, this same composition is also the product’s weak spot. Its oils and ingredients are most effective as spot treatments — not long-lasting ones.
Although it’s meant to complement a professional Terminix treatment, SafeShield can be purchased by-the-bottle at the Terminix website.
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The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged today within its target range of 0.000-0.250 percent.
The Fed also reiterated its plan 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 not slowing with the same speed versus just two months ago and that financial markets, in general, are improving.
These are two signs that the country may be emerging from recession, if it hasn’t already.
The news isn’t all good, however. The Fed made a point to highlight the potential hazards the nations faces on its path to economic recovery:
- The prices of energy and commodities have been rising
- Job losses are still mounting nationally
- Businesses are reducing capital expenditures
Also in its statement, the Fed acknowledged a plan to hold the Fed Funds Rate near zero percent “for an extended period” and a re-commitment to the U.S. Treasury and Mortgage Bond markets.
Market reaction to the Fed’s press release has been muted.
With no new stimulus and no new “tools” to spur the economy unveiled, Wall Street is business as usual. Mortgage rates are unchanged post-FOMC today.
The FOMC’s next scheduled meeting is August 11-12, 2009.
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Water high in mineral content — specifically calcium and magnesium — is more commonly known as “hard water“.
There’s no negative link between hard water and human health, but hard water has been known to mess with a homeowner’s penchant for cleanliness. Over time, mineral deposits can collect and “stain” anywhere that there’s running water.
In the home, hard water stains are most commonly found in bathrooms.
In this 2-minute video from Rachel Yatuzis, we see the Hard Water Stain Remedy in action. It doesn’t take much time, or even much effort. Removing the stains can be as simple as mixing lemon juice, vinegar, and baking soda.
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Nestled in the Beautiful North Georgia Mountains on a privately owned farm for over 50 years to the same family lies Noontootla Creek Farms. NCF is a privately held farm consisting of over 1,500 acres. Originally a large farm operation and then a private hunting club, NCF is now open to the public with over two miles of quality trout water and excellent quail hunting . We are open year around with the best hunting and fishing taking place from the Fall through Spring of the following year. An on-site farmhouse is available for rental. All fly fishing and quail hunts are by daily reservation at affordable rates.
NCF’s fly fishing is more technical in nature than many other private trophy trout waters in North Georgia. This is a high quality trout fishery that is enjoyed by all for both it’s beauty and the way it fishes. Fly fishing at Noontootla Creek Farms is a small stream fly fishing experience unique to the North Georgia Mountains. Noontootla Creek normally runs gin clear and takes anywhere from 1/2 day to 1 1/2 days to clear after a rain event. This can be a fly fishing trip life saver if other waters in the state are “blown-out”! There are two miles of wadeable water consisting of four separate sections, about a half mile each, which have both trophy and stream-bred Browns and Rainbows. We’re talking classic North Georgia trout water on beautiful Noontootla Creek. It doesn’t get much better than this. NCF water is easily wadeable by anyone. The upper section is a little “tighter” requiring careful casting. The middle two and lowest sections are more open from a casting perspective. Hatches are limited in the Fall & Winter but Spring brings out the stonefly, caddis, mayfly and midge hatches. Summer brings out the terrestrials. You won’t get bored on this water as it can, at times, be challenging. But the rewards are big as well.
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Motorized garden tools come in two varieties — gas-powered and electric-powered.
If you take a close look, however, you’ll notice that professional landscapers and gardening experts almost always choose the gas-powered types. This is because gas-powered garden tools both outperform and outlast their electric counterparts.
On the downside, they’re an environmental nightmare.
According to the California Air Resources Board, a typical 5-horsepower, gasoline-powered lawnmower produces more pollution in 60 minutes of operation than a Toyota Prius produces in 800 miles of driving.
The environmental pollution created by lawn care products is one of the reasons why the Eco Trimmer by Lehr
The propane-powered tool emits 96 percent fewer carcinogens than a gas-powered tool and is completely non-toxic to ground and soil. Its performance is highly-rated, too.
The Eco Trimmer sells for about $200 on Amazon.com
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Blairsville Scottish Festival
When: June 13 8:00 A.M. – 5:00 P.M.
June 14 10:00 A.M. – 5:00 P.M.
Where: Meeks Park in Blairsville, Georgia
The stage is set and if you listen you will hear the sounds of bagpipes, drums and sounds of Scotland come alive as the marching bands get the games underway. Be sure to visit the Clan tents, pitched along the Butternut Creek and pick out your favorite kilt. Visit the genealogy tent and find out if you might have a little Scottish in ya. You don’t want to miss seeing the competition of the cabor toss or who can run the kilted mile the fastest. Hungry? Visit one of the Scottish food vendors for a taste of Scotland.The Festival will feature an entire area designated exclusively for children’s events and activities with a fun as well as an educational twist. Children’s crafts and events make this festival fun for everyone in the family.
Please visit the Blairsville Scottish Festival site for more details and information.
**Voted Top 20 Event By The Souteastern Tourism Society**
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Since Memorial Day, conforming mortgage rates have jumped by more than 1.125 percent, adding thousands of dollars to the annual cost of homeownership.
To the casual observer, the moves may seem random. There’s a reason this is happening, however.
It starts with inflation.
As an economic force, inflation erodes the value of the U.S. Dollar. Left unchecked, it drives up the Cost of Living as each dollar “buys less” at the supermarket, gas station, or anywhere else.
But with respect to mortgage rates, inflation’s impact is more immediate. Because inflation devalues the dollar over the long-term, it renders long-term mortgage bonds a less attractive investment for traders.
If bond investors are repaid in U.S. Dollars, after all, it would make the investment worth less if the dollar is in an inflationary freefall.
Therefore, in situations when inflation is likely to present, we find that traders often sell out of their mortgage bond positions which, in turn, drives down the bond prices. Then, because bond yields move in the opposite direction of bond prices, rising rates are the inevitable result.
Lately, Wall Street is fearing inflation for a number of reasons:
1. Job losses are slowing, adding to consumer spending expectations
2. Gas prices have risen 41 days in a row
3. The federal government is increasing the money supply
These 3 factors — plus a few others — are all coming to a head around the same time and traders are getting defensive with their portfolios. As a result, they’re selling their mortgage bond positions and it’s driving mortgage rates higher.
Rates may continue to trek toward 7 percent through July and August, or they may retreat toward 5 percent. We can’t know for sure. What we can know, though, is that volatility in rates should continue until the economic picture gets more clear. That could be next week, or next year.
For now, be ready to lock at a moment’s notice. Mortgage rates are changing quickly.
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Tighter mortgage guidelines since late-2008 are forcing home buyers to make bigger downpayments. Anecdotally, the change has led to a surge in buyers taking gifts of cash from family members.
If you’re among those accepting a cash gift from family, it’s important to know that you can’t just deposit the money in your bank account.
There is a proper way to accept a cash gift and it requires 3 distinct steps:
1. Complete and sign an acceptable gift letter
2. Document the gifter’s withdrawal of funds with teller receipts
3. Document the giftee’s deposit of funds with teller receipts
See, mortgage lenders pay close attention to gifts-for-downpayments. For one, lenders have to make sure that downpayment cash is “clean” (i.e. not laundered). And, secondly, they want the gift to really be a gift and not a loan-in-disguise.
This is why lenders will often require that a signed, dated letter accompany the home loan application.
As an example:
I am the [relationship to recipient] of [name of recipient] and this letter serves as evidence that I am gifting [name of recipient] [amount of gift] to be used for the purchase of the home at [complete address of property].
This is a gift — not a loan — and there is no expectation of repayment.
Signed,
[Signature of gifter]
To further appease lenders, gift recipients should make sure that gift funds are not commingled at the time of deposit. If the gift is for $12,000, for example, the bank’s deposit slip should indicate that a $12,000 deposit was made — nothing more, nothing less.
Don’t add a random $50 check to the deposit, in other words. If you have a separate deposit to make, make it as a subsequent transaction with its own receipt.
It’s also worth noting that gifting funds between family members can create both legal and tax liabilities. If you’re unsure about how donating or receiving a gift may impact you, call or email me directly. If I can’t help you with your questions, I can refer you to somebody that can.
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