Real Estate Broker MD VA DC

Real Estate Broker MD VA DC
Sirous M Jafari

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Saturday, May 3, 2014

Real Estate: We are NOT the Only Ones Saying You Should Buy


We have never hid our belief in homeownership. That does not mean we think EVERYONE should run out and buy a house. However, if a person or family is ready, willingand able to purchase a home, we believe that owning is much better than renting. And we believe that now is a great time to buy.
We are not the only ones that thinkowning has massive benefits or that now is a sensational time to plunge into owning your own home. Here are a few others:

Benefits of Owning

“Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord…Having to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings.”
“Renters have much lower median and mean net worth than homeowners in any survey year.”

Benefits of Buying Now

“Buying costs less than renting in all 100 large U.S. metros… Now, at a 30-year fixed rate of 4.5%, buying is 38% cheaper than renting nationally.”
"One thing seems certain: we are not likely to see average 30-year fixed mortgage rates return to the historic lows experienced in 2012…Yes, rates are higher than they were a year ago – and certainly higher than two years ago. But if you look at the averages over the last four decades, today's rates remain historically low."

Sunday, April 13, 2014

Speak Intelligently about the Home Sales Numbers




It is crucially important that, as experts in the real estate field, we can articulate what is actually taking place in the housing market…especially when news headlines are causing confusion. That is definitely the case right now when it comes to existing home sales numbers.
Overall, sales volumes are down. We realize that. However, a closer look at the numbers show that certain categories and price ranges are down while others are up.
Below is CoreLogic’s breakdown of recent sales compared to last year by category. As we can see, distressed property sales are down while non-distressed property sales are up.
Slide1
Now let’s look at NAR’s breakdown of recent sales by price point. As we can see, lower priced homes (distressed properties?) are down while every category over $250K increased.
Slide2
Let’s make sure we promote what is actually happening with home sales to consumers in our markets.

The most recent projection by Freddie Mac calls for 30 year fixed mortgage rates to hit 5.7% by the end of 2015.

Cost-of-Waiting20407Freddie-Mac-Projections20407


HPES

Friday, April 4, 2014

A New Season for Housing Will First-Time Buyers Face Challenges?

A New Season for Housing
Will First-Time Buyers Face Challenges?



A New Season for Housing -  Will First-Time Buyers Face Challenges?

Spring is officially here. The warmer season will hopefully bring a much-needed warm-up to the housing market, which suffered from the harsh winter weather.

Weather, tight credit, and higher home prices were the cause for stagnant housing in recent months, according to the National Association of REALTORS® (NAR). February Existing Home Sales fell by 0.4 percent from January to 4.60 million units on an annualized basis. While this figure was in line with estimates, it was still 7.1 percent less than the number of Existing Home Sales registered one year ago.

Weather was also blamed for lower-than-expected Housing Starts in February, reported at 907,000. Housing Starts have been declining since November's annual rate of 1.101 million—the highest since 2008. However, Building Permits, a sign of future construction, increased by 7.5 percent in February to 1.018 million, well above expectations.

Better readings are anticipated in future housing reports, as the weather becomes milder around the nation.

Housing Out of Reach for First-timers?
It seems first-time homebuyers are being squeezed out of the market due to rising home prices and tighter lending requirements.

First-timers accounted for 26 percent of purchases in January, down from 30 percent a year earlier, according to the NAR. This figure is the lowest the NAR has recorded since it began monthly measurements in October 2008, according to Bloomberg.

Strong housing markets are indicated by robust constructions starts, new home sales and first-time homebuyer volume. A worrying trend is that there is insufficient inventory for average priced homes, with home sales over $250,000 increasing by 8.2 percent, and those under $250,000 decreasing by 10.7 percent, according to the NAR.

Prices on the Rise
U.S. home values continue to rise as buyers compete for a limited supply of properties for sale. Prices climbed 12 percent in January from a year earlier, the twenty-third consecutive gain, said Irvine, California-based CoreLogic Inc. last month.

Analysts assert that there aren't enough homes on the market, with recovery efforts since 2008's housing bubble focusing too much on the financing side, and not enough on the physical side. Conditions could improve as building permits are approved and housing starts slowly pick up the pace.

A New Season for Housing Will First-Time Buyers Face Challenges?

A New Season for Housing
Will First-Time Buyers Face Challenges?



A New Season for Housing -  Will First-Time Buyers Face Challenges?

Spring is officially here. The warmer season will hopefully bring a much-needed warm-up to the housing market, which suffered from the harsh winter weather.

Weather, tight credit, and higher home prices were the cause for stagnant housing in recent months, according to the National Association of REALTORS® (NAR). February Existing Home Sales fell by 0.4 percent from January to 4.60 million units on an annualized basis. While this figure was in line with estimates, it was still 7.1 percent less than the number of Existing Home Sales registered one year ago.

Weather was also blamed for lower-than-expected Housing Starts in February, reported at 907,000. Housing Starts have been declining since November's annual rate of 1.101 million—the highest since 2008. However, Building Permits, a sign of future construction, increased by 7.5 percent in February to 1.018 million, well above expectations.

Better readings are anticipated in future housing reports, as the weather becomes milder around the nation.

Housing Out of Reach for First-timers?
It seems first-time homebuyers are being squeezed out of the market due to rising home prices and tighter lending requirements.

First-timers accounted for 26 percent of purchases in January, down from 30 percent a year earlier, according to the NAR. This figure is the lowest the NAR has recorded since it began monthly measurements in October 2008, according to Bloomberg.

Strong housing markets are indicated by robust constructions starts, new home sales and first-time homebuyer volume. A worrying trend is that there is insufficient inventory for average priced homes, with home sales over $250,000 increasing by 8.2 percent, and those under $250,000 decreasing by 10.7 percent, according to the NAR.

Prices on the Rise
U.S. home values continue to rise as buyers compete for a limited supply of properties for sale. Prices climbed 12 percent in January from a year earlier, the twenty-third consecutive gain, said Irvine, California-based CoreLogic Inc. last month.

Analysts assert that there aren't enough homes on the market, with recovery efforts since 2008's housing bubble focusing too much on the financing side, and not enough on the physical side. Conditions could improve as building permits are approved and housing starts slowly pick up the pace.

Sunday, February 2, 2014

Predictions for 2014: Sales Will Surge

1.6 Blog VisualMany housing pundits are calling for home sales to do slightly better in 2014 than they did in 2013. To the contrary, we strongly believe that home sales will skyrocket with increases of 10-15% in 2014. Here are the three categories of buyers we believe will create this strong demand.

The First Time Buyer

The Urban Land Institute recently released a report, Emerging Trends in Real Estate 2014, projecting that 4.48 million new households will be formed over the next three years. Millennials will make up a large portion of these new households. With the economy improving, we believe they will finally be moving out of their parents’ homes and, when they compare renting versus buying, many will choose homeownership.

The Move-Up Buyer

Over the last several years many homeowners were trapped in their home by negative equity. This prevented them from moving up to the home of their dreams. Zillow has justrevealed that home equity increased by $1.9 trillion dollars in 2013 an increase of 7.9% in the last twelve months. With home values rising, this pent-up demand will finally be released and move-up properties will be in high demand.

The Immigrant Buyer

No one knows what will happen with immigration reform. However, we do know what such reform would have on housing demand. A recent study released by the Immigration Task Force of the Bipartisan Policy Center (BPC) found that immigration reform, if passed, would dramatically increase demand for housing units; increasing residential construction spending by an average of $68 billion per year over the next 20 years.
We realize that our projections are based on three situations that are still uncertain. However, we believe that these issues will come to fruition and thereby dramatically increase demand for homeownership.

Friday, January 31, 2014

Read the Fine Print in Your Retirement Plan


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Read the Fine Print in Your Retirement Plan

Few of us know all the mechanics of our 401(k) or other retirement plans. Don’t be caught off-guard when changing jobs or getting ready to retire. Here are some important things to know about your plan:
  • Trading limits. Many plans allow you to move money at any time, but some strings are usually attached. It’s generally not advisable to move long-term retirement savings around for short periods of time. If you do want to switch from time to time, keep in mind that your plan may allow only a set number of trades each week, month, quarter, or year.
  • Account valuations. Find out how often the value of your retirement account is calculated. You can get the most out of your money by timing your departure. Most companies value everything the day you retire, but some value your account weekly, monthly, or quarterly.
  • Withdrawal options. Know how to access your money when you need it. Some plans don’t allow retirees to keep their money in place. Instead, they pay out a lump sum to be reinvested elsewhere. Other plans allow retirees to take a stream of payments (so it serves as an income source) while the rest of the money stays in the plan. Be sure to do your homework before your retirement party.

Also in this issue...
Are You Ready for That Promotion?
World's Most Powerful People
3 Strategic Questions
Forget Knitting and Shuffleboard


Are You Ready for That Promotion?

Being offered a promotion is almost always flattering, but accepting it may not always be the best choice for you and your career path. Here are some things to keep in mind when considering a promotion:
  • Are you ready to make the step up? Your boss may be impressed with your recent performance on the job, but does that mean you’re prepared to assume more or different responsibilities permanently? Moving ahead before you are comfortable may lead to career-damaging mistakes.
  • Do you want the additional responsibility? How would the new position change your responsibilities and lifestyle? Would you be expected to work longer hours? Travel more frequently? Supervise others? Manage high-profile (and high-stress) projects? Try to envision how your everyday work and home life would change if you took on the new role.
  • Where could you go from here? The promotion you’ve been offered may represent a step up in the organization, but then what? Could you advance further, or would you be stuck on a plateau? Would you rather make a lateral move to a different department with more room for advancement?
  • Will the role take you away from what you really love? You must consider whether a new job with different responsibilities, and the benefits and pay raise that might accompany the position, would be enough to fill the void if you must let go of other work you truly enjoy.

If you decide to turn down the promotion, meet with your boss personally and let him or her know how flattered you are to be considered for the role. Explain how much you enjoy working for the company and how glad you are to know your contributions are valued. Then, make it clear that you cannot accept this particular offer at this time.
If your boss presses to understand your motivation for refusing the promotion, emphasize that you believe staying in your present position is better for you - and the company. Communicate with your boss frequently about what you’d like to accomplish at the company and what training and experience you need to become a better employee overall.


World's Most Powerful People

Every year, Forbes makes a list of the most powerful people in the world drawn from government, business, religion, and other fields. In 2012, President Obama topped the list, but since then, Russian President Vladimir Putin has moved up to number one. Here are the prominent people who made the top 10:
  1. Vladimir Putin - Russian President
  2. Barack Obama - U.S. President
  3. Xi Jinping - General Secretary of Communist Party of China
  4. Pope Francis - Bishop of Rome
  5. Angela Merkel - German Chancellor
  6. Bill Gates - Co-Chair and Trustee of Bill and Melinda Gates Foundation
  7. Ben Bernanke - Federal Reserve Chairman
  8. Abdullah bin Abdul Aziz Al Saud - King of Saudi Arabia
  9. Mario Draghi - President of European Central Bank
  10. Michael Duke - CEO of Wal-Mart


3 Strategic Questions

You can’t make sound strategic decisions for your organization unless you have a solid understanding of what makes it special and unique. Answer these three fundamental questions:
  1. What value do you provide customers? This is the reason you’re in business - to fill a need for people better than anyone else can. Why should people come to you and not the next business down the road? The answers will let you identify strengths and set priorities more effectively.
  2. What value do you offer your workforce? If you want to attract and retain good people, you have to offer something other employers don’t. A competitive salary is just the start. Employees also appreciate a work atmosphere that encourages innovation, creativity and trust.
  3. What do you have to do better than anyone else? The first two questions lead naturally to this third one. How can you continue to distinguish yourself from your competitors? How can you measure your success in these areas? Re-examine your answers every few months to make sure you’re staying on top of the trends in your industry.


Forget Knitting and Shuffleboard

Some people dream of never working again once they reach retirement. Others - more than you might think - are happy to keep on working. A study conducted by a national life insurance company has found that 40 percent of people planning to retire this year would be happy to keep working past their 65th birthday if given the opportunity. That figure represents 48 percent of men and 32 percent of women.
Money isn’t the main motivator, either. The primary motivation for 68 percent of this year’s retirees is the desire to remain physically and mentally active, although 39 percent just don’t like the prospect of sitting at home, and 54 percent say they simply enjoy working. However, most don’t want to put in the same hours: only 13 percent would be willing to work full-time after age 65.
About 10 percent would consider starting their own business once they retire, and 5 percent are interested in doing more volunteering.

Tuesday, January 28, 2014

INFO THAT HITS US WHERE WE LIVE>>>


INFO THAT HITS US WHERE WE LIVE... Confirming the insight of the Hibernian bard, the housing market happily kept growing in December. Existing Homes Sales went up 1.0%, to a 4.87 million annual rate. For all of 2013, 5.09 million existing homes were sold, up 8.9% from 2012, and the best annual sales level since 2006. Yes, existing home sales have slowed over the past few months, but this situation is not expected to last. Analysts observe that a lack of inventory has been leading some potential existing home buyers to purchase new homes instead. Existing home inventories, in fact, dropped 9.3% in December, close to all-time lows. 

Observers see more homes coming onto the market this year, as prices move higher. Right now,
existing home median prices are up 9.9% versus a year ago, to $198,000. Average prices are up 8.6% over last year. The FHFA index of prices for homes financed with conforming mortgages went up 0.1% in November. This was the smallest hike in 16 months, but the index is up 7.6% over a year ago. Economists expect home prices to keep edging up, though not as much as last year. They feel that as home builders ramp up, the additional supply will slow the rate of price gains compared to last year.

BUSINESS TIP OF THE WEEK... Don't get caught up responding to crises. Instead, have a plan for proactively tackling projects each day. Commit time for every task, then set aside an extra block for unexpected events.

>> Review of Last Week

DOWN DOWN DOWN DOWN... Those four words perfectly describe the four days of the Dow's performance during a trading week shortened by Monday's Martin Luther King Jr. Day holiday. Both the Dow and the S&P 500 suffered their worst weekly losses in more than a year. The tech-y Nasdaq fared better but still lost ground for the week. Some observers explained all the downward motion as merely the start of a stock market correction, following the record setting performances we saw last year. Others felt it reflected continuing economic concerns.

Those worries began with China, thanks to our interconnected global economy. The HSBC Flash PMI reading indicated Chinese manufacturing contracted slightly in January, plus there were concerns over the health of the Chinese shadow banking system. Over here, Existing Home Sales and Leading Economic Indicators were each up slightly, but less than expected. Although weekly jobless claims were up by 1,000, the four-week moving average dropped again from the previous reading, which is definitely a positive.

The week ended with the Dow down 3.5%, to 15879; the S&P 500 down 2.6%, to 1790; and the Nasdaq down 1.7%, to 4128.

Tumbling stocks sent bond prices skyward, with Treasuries in particular registering solid gains. The FNMA 3.5% bond we watch ended the week up .86, to $101.06. In Freddie Mac's Primary Mortgage Market Survey for the week ending January 23, national average fixed mortgage rates drifted a tick lower for the second week in a row. "Reports that inflation remains subdued" were given as the reason for the decline. Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up to the minute information.

DID YOU KNOW?... The latest Fed Beige Book reported that most Federal Reserve districts witnessed increased residential sales activity, construction, and home prices from late November to the end of 2013.

>> This Week’s Forecast

NEW AND PENDING HOME SALES, GDP, MIDWEST MANUFACTURING SLIP, THE FED MEETS... December New Home Sales and Pending Home Sales should be off a bit, as well as overall economic growth in Q4, according to the GDP – Advanced reading. The important Chicago PMI is forecast to show a slower rate of expansion for manufacturing in the Midwest. Wednesday's FOMC Meeting will tell us how the Fed will taper their bond buying program, although the Funds Rate isn't expected to budge.

Other notable reports include Personal Spending, which is predicted to slow a little in December. But Core PCE Prices should show inflation is still under control.

>> The Week’s Economic Indicator Calendar

Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.

Economic Calendar for the Week of Jan 27 – Jan 31

 Date Time (ET) Release For Consensus Prior Impact
M
Jan 27
10:00 New Home Sales Dec 457K 464K Moderate
Tu
Jan 28
08:30 Durable Goods Orders Dec 2.1% 3.4% Moderate
Tu
Jan 28
10:00 Consumer Confidence Jan 77.5 78.1 Moderate
W
Jan 29
10:30 Crude Inventories 1/25 NA 0.990M Moderate
W
Jan 29
14:00 FOMC Rate Decision Jan 0%–0.25% 0%–0.25% HIGH
Th
Jan 30
08:30 Initial Unemployment Claims 1/25 325K 326K Moderate
Th
Jan 30
08:30 Continuing Unemployment Claims 1/18 3.000M 3.056M Moderate
Th
Jan 30
08:30 GDP – Advanced Q4 3.0% 4.1% Moderate
Th
Jan 30
10:00 Pending Home Sales Dec –0.2% 0.2% Moderate
F
Jan 31
08:30 Personal Income Dec 0.2% 0.2% Moderate
F
Jan 31
08:30 Personal Spending Dec 0.2% 0.5% HIGH
F
Jan 31
08:30 PCE Prices - Core Dec 0.1% 0.1% HIGH
F
Jan 31
08:30 Employment Cost Index Q4 0.4% 0.4% HIGH
F
Jan 31
09:45 Chicago PMI Jan 58.0 60.8 HIGH
F
Jan 31
09:55 U. of Michigan Consumer Sentiment – Final Jan 80.4 80.4 Moderate

>> Federal Reserve Watch   

Forecasting Federal Reserve policy changes in coming months... The focus of this week's FOMC meeting will be on what the Fed will do about tapering its bond buying program. Economists do not expect the super low Funds Rate to budge. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.
Current Fed Funds Rate: 0%–0.25%
After FOMC meeting on: Consensus
Jan 29 0%–0.25%
Mar 19 0%–0.25%
Apr 30 0%–0.25%

Probability of change from current policy:

After FOMC meeting on: Consensus
Jan 29      <1 span="">
Mar 19      <1 span="">
Apr 30      <1 span="">

Monday, January 27, 2014

Market Report January 2014


"If a window of opportunity appears, don't pull down the shade." Tom Peters. The markets were closed Monday in observance of the Martin Luther King, Jr. holiday and the economic calendar was light, but last week still brought an opportunity, as home loan rates reached some of their lowest levels in months.

Despite the quiet calendar, there was news to note in the housing arena. The National Association of Realtors reported that Existing Home Sales rose by 1 percent from November to December to an annual rate of 4.87 million units. This was the first monthly gain in three months. For all of 2013, there were 5.09 million existing home sales, which was 9.1 percent higher than 2012. The housing market continues to rebound, though at a modest pace.

Meanwhile on the labor front, weekly Initial Jobless Claims were reported at 326,000, up 1,000 in the latest week and nearly in line with expectations. Initial Jobless Claims have been trending lower since the distortions brought on by seasonal holiday hiring. The labor markets were pointed in a positive direction up until the weak December Jobs Report. The Fed will be watching closely to see if the December report was an anomaly...or a sign of things to come.

What does this mean for home loan rates? The housing and labor arenas are two key areas that the Fed is monitoring, as it decides whether to further taper its Bond purchases. Remember that the Fed is now purchasing $40 billion in Treasuries and $35 billion in Mortgage Bonds (the type of Bonds on which home loan rates are based) each month to stimulate the economy and housing market. This figure is down from the $85 billion in Bonds and Treasuries the Fed had been purchasing last year.

The Fed has stated that its decision to further taper these purchases will be dependent on economic data. The upcoming Fed meeting on January 29-30 will be closely watched, as investors will be waiting to see if the Fed will taper these purchases further. This decision could have a big impact on Mortgage Bonds and home loan rates, and it's a key story to watch this week and throughout the year.

The bottom line is that now remains a great time to consider a home purchase or refinance, as home loan rates remain attractive compared to historical levels. Let me know if I can answer any questions at all for you or your clients.

 
     
  Forecast for the Week  
     
  A busy economic calendar is ahead. Plus the Fed meets.
  • In housing news, New Home Sales will be released on Monday, the S&P/Case-Shiller Home Price Index on Tuesday, and Pending Home Sales on Thursday.
  • We'll get a sense of how the consumer is feeling with Consumer Confidence on Tuesday, followed by the Consumer Sentiment Index on Friday.
  • Also on Tuesday, Durable Goods Orders for December will be released.
  • Look for Weekly Initial Jobless Claims and Gross Domestic Product on Thursday.
  • Ending the week, Friday brings a slew of key reports, including Personal Income, Personal Spending, the inflation-measuring Personal Consumption Expenditures, and Chicago PMI.
In addition, the Federal Open Market Committee meeting kicks off on Tuesday, with the monetary policy statement set for delivery on Wednesday at 2:00 p.m. EST.

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. The chart below shows Mortgage Backed Securities (MBS), which are the type of Bond on which home loan rates are based.

When you see these Bond prices moving higher, it means home loan rates are improving — and when they are moving lower, home loan rates are getting worse.

To go one step further — a red "candle" means that MBS worsened during the day, while a green "candle" means MBS improved during the day. Depending on how dramatic the changes were on any given day, this can cause rate changes throughout the day, as well as on the rate sheets we start with each morning.

As you can see in the chart below, Bonds have been on an improving trend, meaning home loan rates have also improved. The Fed meeting could have a big impact on the markets this week and I'll be watching closely to see what happens.

Chart: Fannie Mae 4.0% Mortgage Bond (Friday Jan 24, 2014)
Japanese Candlestick Chart
 
     
 

The Mortgage Market Guide View...  
 
  6 Things to Know About Going Paperless
Digital files are your best weapon in the battle to conquer clutter.
By Lisa Gerstner, Kiplinger.com

1. Stop paper buildup in its tracks. Sign up to receive online statements and bills from utilities, banks, credit card issuers and other service providers. To help stay on top of payments, sign up for your bank's bill-paying service. Or link your accounts to Manilla.com. The tool, which includes a mobile application for Android and iPhone, organizes and stores documents online and sends alerts when bills are coming due.

2. Scan, scan, scan. A good scanner can eliminate a mountain of paper. The Fujitsu ScanSnap iX500 desktop scanner ($405 on Amazon.com) connects wirelessly to your PC, creates searchable PDFs, and can handle two-sided scanning. Once you've digitized those documents, take them, along with all the other unwanted items sitting on your desk or dining room table, straight to the shredder. Your community may sponsor periodic mass shredding events. A good shredder for home use is the Fellowes Powershred W-11C ($66 at Amazon.com).

3. Prepare a backup plan. Save important documents in multiple places in case your computer fails, says Julie Bestry, president of Best Results Organizing, in Chattanooga. In addition to keeping copies on an external hard drive or a flash drive, store documents using secure "cloud" services. Dropbox, for example, lets you save 2 gigabytes of data free (and you can share folders with other users). With Google Drive, you can store up to 15GB of files as well as create text documents, spreadsheets and slide shows. The free online tool Evernote lets you save PDFs, clip articles from the Web and create text documents. File items in folders and add tags for easy searching.

4. File it on the fly. A scanner that fits into a bag or suitcase can be useful for, say, digitizing handouts while you're at a conference, says Erin Rooney Doland, editor in chief of Unclutterer.com. For example, the 12-ounce Fujitsu ScanSnap S1100 ($180 on Amazon.com) can process letter-size documents as well as receipts, postcards and business cards. And plenty of mobile apps can help you keep paper to a minimum, too, though they may not provide the image quality that a scanner does. With the free version of the CamScanner app (for Android, iPhone and Windows Phone), you can snap photos of documents with your phone's camera and convert them to PDFs. The CamCard Free app lets you photograph business cards and store and file the contact information. With the free Bump app (for Android and iPhone), you can share your contact information by tapping your phone with phones of other app users.

5. Get a handle on receipts. To organize all of your receipts and track spending, try OneReceipt for iPhone, which lets you snap pictures of receipts and save them by using the free app or e-mailing them to your account. The tool can also automatically pull electronic receipts from your e-mail account. Not sure the store will accept an image of a receipt? Hang on to the original.

6. Paper still has a place. In addition to Social Security cards, and certificates of birth, death and marriage, you'll want to keep estate documents, medical records, insurance policies, proof of mortgage and other loan payoffs, and titles and deeds for cars and homes.

Reprinted with permission. All Contents ©2014 The Kiplinger Washington Editors. Kiplinger.com.


Economic Calendar for the Week of January 27 - January 31

Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. January 27
10:00
New Home Sales
Dec
NA
 
464K
Moderate
Tue. January 28
08:30
Durable Goods Orders
Dec
NA
 
3.4%
Moderate
Tue. January 28
09:00
S&P/Case-Shiller Home Price Index
Nov
NA
 
13.6%
Moderate
Tue. January 28
10:00
Consumer Confidence
Jan
NA
 
78.1
Moderate
Wed. January 29
02:00
FOMC Meeting
Jan
NA
 
0.25%
HIGH
Thu. January 30
08:30
Jobless Claims (Initial)
1/25
NA
 
NA
Moderate
Thu. January 30
08:30
Gross Domestic Product (GDP)
Q4
NA
 
4.1%
Moderate
Thu. January 30
08:30
GDP Chain Deflator
Q4
NA
 
2.0%
Moderate
Thu. January 30
10:00
Pending Home Sales
Dec
NA
 
0.2%
Moderate
Fri. January 31
08:30
Personal Spending
Dec
NA
 
0.5%
Moderate
Fri. January 31
08:30
Personal Consumption Expenditures and Core PCE
Dec
NA
 
0.1%
HIGH
Fri. January 31
08:30
Personal Consumption Expenditures and Core PCE
YOY
NA
 
1.1%
HIGH
Fri. January 31
08:30
Employment Cost Index (ECI)
Q4
NA
 
0.4%
HIGH
Fri. January 31
08:30
Chicago PMI
Jan
NA
 
60.8
HIGH
Fri. January 31
08:30
Consumer Sentiment Index (UoM)
Jan
NA
 
80.4
Moderate
Fri. January 31
08:30
Personal Income
Dec
NA
 
0.2%
Moderate
     



The material contained in this newsletter has been prepared by an independent third-party provider. The content is provided for use by real estate, financial services and other professionals only and is not intended for consumer distribution. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is without errors.

As your mortgage professional, I am sending you the MMG WEEKLY because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.

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Wednesday, January 22, 2014

Baking with Kids

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Baking with the Kids

The smell of freshly baked cookies and pies can evoke warm memories for many people. If you enjoy baking, why not encourage your children to help you in the kitchen - and especially in February, which is Bake for Family Fun Month.
Children are naturally curious. Having your kids assist in baking and other kitchen tasks can foster that curiosity and build other skills as well. Math, for example, is a big part of baking because measurements have to be doubled or halved to customize a recipe. This can be a wonderful bonding experience as well as a great way for kids to learn.
Make sure that your children know the basic guidelines for kitchen safety. Keep the following tips in mind when your little ones are helping in the kitchen:
  • Set the rules before you let your children join you. Make sure they understand that baking can be fun, but the kitchen is not a place to play.
  • Start off with tasks that don’t require use of the oven, sharp objects or electric appliances. Assign young helpers such tasks as measuring, stirring and cleaning.
  • You may want to modify your equipment to meet the needs and abilities of your beginning bakers. For instance, avoid using cookware that would be expensive to replace. Opt for plastic or stainless steel bowls and measuring cups instead of glass, and consider using an enclosed manual chopper instead of sharp knives.

Also in this issue...
Smile for Dental Health!
Boost Self-Esteem
Conversational Seating
Red Velvet Cupcakes with Cream Cheese Frosting
A Feast for the Birds

Smile for Dental Health!

One of the best things in the world is the smile on the face of a child. Keep your child’s smile from fading by teaching valuable dental health habits. During February, which is National Children’s Dental Health Month (and throughout the rest of the year), keep these tips in mind:
  • Good dental habits should begin before the first tooth appears. After feedings, gently brush your baby’s gums using water on a baby toothbrush that has soft bristles - or wipe gums with a clean washcloth.
  • Limit juice. Make sure your child doesn’t drink more than one small cup of juice each day and only at mealtimes. Avoid sodas and other sugary drinks.
  • Use fluoride toothpaste. Not only does fluoride help prevent cavities, but it also helps make tooth enamel more resistant to decay. Swallowing too much fluoride toothpaste, however, can cause white or brown spots on your child’s adult teeth, so use only a pea-sized amount or less and smear the paste into the bristles.
February is also National Pet Dental Health Month, so don’t forget your furry friends. Contact your veterinarian for more information on how to best care for your pet’s teeth.

Boost Self-Esteem

Confidence doesn't come naturally to everyone, but the good news is that you can develop confidence, just like any muscle or character trait, if you're willing to work hard. During International Boost Self-Esteem Month, keep these confidence-boosting tips in mind:
  • Sit up straight. Research suggests that people with good posture have more confidence in their thoughts than slouchers.
  • Focus on your breathing. Those who regularly practice Buddhist mindfulness meditation report increased self-acceptance.
  • Actively interact with others. Social psychologist Laura Kray, Ph.D., has demonstrated that smiling, laughing and engaging in slight physical contact when negotiating can help you win the day.

Conversational Seating

February is Pull Your Sofa Off the Wall Month, which means it’s time to take a serious look at your living room, family room or any room with a sofa. Many people, thinking this makes the most of the available space, simply push furniture against the wall. And yet, you can create a look that is more pleasing to the eye by arranging a sofa and other furniture in conversational groups. Here is some expert advice for where to position your sofa:
First of all, the proportion of your room is very important. In a small space with a fireplace, for example, two perpendicular sofas will shorten the room. By contrast, if you have a large living room, you can bring the sofa out perpendicular to a wall and create a seating area, and then create another conversation area at the other end.
To compensate for a bland room without architectural appointments or a focal point, position the sofa on the diagonal in a corner. A screen or plants behind it make an attractive backdrop.
If the back of your sofa is visible, be sure to dress it up with a decorative blanket or arrange a sofa table or desk behind it.

Red Velvet Cupcakes with Cream Cheese Frosting

Cupcakes:
  • 1 1/2 cups of sugar
  • 1/2 cup (1 stick) butter, room temperature
  • 2 eggs, room temperature
  • 2 1/3 cups cake flour
  • 2 Tbsp. Dutch-processed cocoa powder
  • 1 tsp. baking soda
  • 1 tsp. baking powder
  • 1/2 tsp. salt
  • 1 cup buttermilk
  • 1 1/2 Tbsp. red food coloring
  • 1 tsp. vanilla extract
  • 1 tsp. distilled white vinegar
Frosting:
  • 1/2 cup butter (1 stick), room temperature
  • 8 oz. cream cheese, room temperature
  • 2 - 3 cups powdered sugar
  • 1 tsp. vanilla extract
Beat butter and sugar in an electric mixer for 3 minutes on medium speed until light and fluffy. Add eggs, one at a time, beating until each is fully incorporated. Be sure to scrape down sides of the bowl to ensure even mixing.
In a large bowl, sift together cake flour, cocoa powder, baking soda, baking powder, and salt. In another bowl, whisk together buttermilk, vinegar, vanilla extract, and red food coloring.
Add one-fourth of dry ingredients and mix, then add one-third of wet ingredients. Continue adding in a dry-wet-dry pattern, ending with dry ingredients.
Fill lined cupcake tins about 1/2 to 3/4 of the way full. Bake at 350 degrees F for 18-22 minutes or until a toothpick comes out clean. Rotate the pan after the first 15 minutes to ensure even baking. Allow to cool for one minute in the pan, then transfer to a wire rack to cool completely.
To make frosting, cream butter and cream cheese together, about 3 minutes. Add vanilla extract and mix. Add powdered sugar, continually taste to get desired sweetness. Pipe onto cooled cupcakes.
Makes 2 1/2 dozen cupcakes.

A Feast for the Birds

Your backyard birds may feast on sweet berries and juicy bugs when the weather is warm, but the pickings tend to get slim once the cooler weather hits. And because February is National Bird Feeding Month, you may want to consider picking up this entertaining and economical hobby.
You can purchase premixed seed at most supermarkets or you can custom mix your own. To find out which seeds and nuts the local birds prefer, buy small quantities of different varieties, such as black oil sunflower seeds, millet, thistle seeds, and yellow corn from a garden center. Then, fill a muffin tin or an open tray feeder with the seeds. Be sure not to mix the seeds - keep them separate. Monitor the seeds each day to see which types get eaten the quickest, and then buy those seeds in bulk.