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Monday Morning Real Estate Update 09/29/08

by The Zwemmer Group

Good Monday Morning,

It's time to welcome one of the best times in the desert... the Fall Season!

Summer is slowly turning into fall, and the desert is ready to welcome in another exciting season.

Now is a perfect time to think about purchasing your new getaway home while prices and interest rates continue to be competitive. Home prices are still at their lowest in years and your beautiful new dream home is

out there waiting for you. Remember, it is still a buyer's market, and you can find incredible deals all around the desert.

Opportunity is knocking on your new front door!

There are still great deals out there

To have direct access to these properties:

If you are considering the sale of your home you can receive an e-mail analysis that

will give you a good indication of your homes current market value at

Mortgage Market update!

It appears a deal has been made!Congressional leaders and the Bush administration
announced they've reached an agreement to spend up to $700 Billion on the historic Bailout
Plan. Details are still pending.

Taking a look back at the past week:
Japan's Mitsubishi Financial Bank will purchase 10% to 20% of
Morgan Stanley. Billionaire investor Warren Buffett's
Berkshire Hathaway is investing $5 Billion into Goldman Sachs. Washington Mutual
was seized by the federal government, and
assets sold to JP Morgan Chase for $1.9 Billion.

Today:             1 Canadian dollar = 0.970591 U.S. dollars
Last Week:     1 Canadian dollar = 0.94402 U.S. dollars



30 yr fixed mtg 5.98% 5.87%
15 yr fixed mtg 5.65% 5.59%
5/1 ARM 5.98% 5.92%
30 yr fixed jumbo mtg 7.20% 7.06%
5/1 jumbo ARM 6.38% 6.30%


Have An Awesome Week!


Rob Zwemmer


by The Zwemmer Group


"If thou wouldst keep money, save money;
if thou wouldst reap money, sow money."

~ Thomas Fuller


In George Classon's classic "The Richest Man In Babylon," he urges readers to "set your purse to fattening." His other advice? Pay off your debts - live debt-free. With those two simple bits of advice, he lays out a wealth of financial advice guaranteed to keep the wolf away from the front door - forever.

He has the audacity to suggest that a part of all you earn is yours to keep. Put $100 a month into your "purse" beginning at age 20. Invest it at 10%. At age 65, you will have a purse filled to the brim with $1,048,000. How difficult is it to convince yourself to put away $100 each month?

Poverty is not our fear. It is the insecurity of being vulnerable that we fear - of not being able to meet our obligations. The "fat purse" does not pay our bills. The amount we earn over and above the part "that is ours to keep" does that. The part we keep - our "fattening purse" - is what gives us the confidence that we are okay.

By the way, according to "The Millionaire Next Door," the "haves" spend twice as much time planning their financial success as the "have nots." Forget setting aside $100 a month, the "haves" set aside up to 40% of their pre-tax income for fattening their purse. That also means they live on just 60%. The "have-nots" are hyper-credit users who do no budgeting whatsoever.

Want to set your purse to fattening? Want to give your children a heads-up on being financially independent? Pick up a copy of Suze Orman's best-seller "The 9 Steps to Financial Freedom". More importantly - put her financial roadmap to work. Don't worry - be happy!

Monday Morning Real Estate Market Update 09/15/2008

by Rob Zwemmer

New figures released by DataQuick Information Systems show 119 homes were sold in July, which despite a slow economy was nearly even with the 121 homes sold in June.

A total of 811 homes were sold in the Palm Springs Area during August.
That's on par with the 803 sold in July and up 2.7 percent from the same month last year.

The most expensive home sold in August was for $6.24 million in the 92260 zip code. August marked the lowest median price since January 2004, which helped boost July's housing sales.

The last time the price was this low was in January 2004, when it hit $267,000, according to historical information from DataQuick.

There are a significant number of other bargains are out there too, Such deals are helping drive down the median prices and boost the valley's first-time buyer affordability rates. The latest numbers show nearly half of valley residents could afford an entry-level home during the second quarter, a record rate for the desert.

To have direct access to these properties:

If you are considering the sale of your home you can receive an e-mail analysis that will
give you a good indication of your homes current market value at

Mortgage Market update!

Winston Churchill. And the housing and mortgage industries experienced a great change in the right direction last week, as the Federal government moved to support Fannie Mae and Freddie Mac, causing Bonds and home loan rates to improve significantly and end the week around .24 percent better than where they began.

So why did the Federal government take action? Fannie Mae and Freddie Mac both have issued many Bonds which over time mature, and Fannie and Freddie need to pay back the principal on the maturing Bonds. The way they raise capital to pay these maturing Bonds is to issue new Bonds, which happens every month.
And as long as Fannie and Freddie can sell new Bonds this system works well.

But the problems in the mortgage industry have reduced investor appetite to purchase these Bonds. Without the ability to sell new Bonds, Fannie and Freddie are less able to meet the capital requirements to pay off the maturing Bonds. And if Fannie and Freddie were to default and become insolvent, the mortgage and housing industries...and homeowners across our nation... would face even more struggles than we are seeing now.

So the government's decision to back Fannie Mae and Freddie Mac is great news for homeowners, because it  ensures the continued liquidity of conforming loans nationwide and it ensures that buyers of this type of Bond have a safe investment going forward.

In other Bond-friendly news, we saw good news on the inflation front last week.
Overall Import Prices declined for the first time since December, thanks in part to the recent plunge in oil and gas prices. And Wholesale Prices, which help measure inflation, fell in August for the first time this year.

Overall, the good inflation news and the Fed's decision about Fannie and Freddie should lead to improving Bond prices and home loan rates in the long-term. With home loan rates at such low levels, it's a great time to review your mortgage situation and make sure you have the rate and program that best suits your current financial needs. I'd be glad to do a quick review for you - and your friends, family members, neighbors or coworkers as well - so just give me a call or email, I'll look forward to hearing from you!




30 yr fixed mtg 5.78% 6.08%
15 yr fixed mtg 5.44% 5.62%
5/1 ARM 5.66% 5.78%
30 yr fixed jumbo mtg 6.98% 7.13%
5/1 jumbo ARM 6.24% 6.28%



1 Canadian dollar = 0.945475 U.S. dollars (08/08/2008)

1 Canadian dollar = 0.939232 U.S. dollars (09/15/2008)




Have a Great Week!

Rob Zwemmer


by Rob Zwemmer


"A man will find that as he alters his thoughts toward things and other people, things and other people will alter towards him.... Let a man radically alter his thoughts, and he will be astonished at the rapid transformation it will effect in the material conditions of his life. Men do not attract that which they want, but that which they are.... The divinity that shapes our ends is in ourselves. It is our very self.... All that a man achieves is the direct result of his own thoughts.... A man can only rise, conquer and achieve by lifting up his thoughts. He can only remain weak and abject and miserable by refusing to lift up his thoughts."

~ James Allen, "As A Man Thinketh"


It's so simple . . . the advice given in the above quote . . . and so true. Each of us has the power to elevate the value and quality of our life, simply by "lifting up" our thoughts, by placing our hands firmly on the wheel of positive thinking. Earl Nightingale gave an example in one of his taped programs. He said imagine that you are the operator of a huge piece of earth-moving equipment. You are perched in a small cab, hands on the wheel, and have the ability to move vast amounts of earth. Would you take your hands off the wheel and let it run itself into a ditch?

Your mind, and hence your thoughts, mirror that steering wheel. Through positive thoughts, you guide your life in a direction that produces positive actions, resulting in positive re-actions from others. Refusing to keep your hands on the wheel will quickly deliver you into life's ditches.

Life today is complex. It brings with it many opportunities for negative thinking. They range from the personal early morning "Hurry up, we're going to be late!" to the mid-day business crisis of "The deal isn't going to close!" Another quote goes like this: "Think you can, think you can't, either way you're right!" Again, it's your choice, isn't it?

The next time you feel frustration and doubt creeping into your vocabulary, think of a time when you felt really good about a similar situation . . . then replace the negative thought with a positive statement. As another wise individual once said, "Our lives are what our thoughts make of it."

Key Tips to Improve Your Credit Rating

by The Zwemmer Group
In our society, it is an unfortunate fact that when you have bad credit the things that should be simple can make your life very difficult. Bad credit can also make things cost more than they should. From renting an apartment to buying a car, if you have bad credit you may find that either you cannot obtain an approval or you have to pay a higher cost than people who have good credit.
The good news is that it is possible to improve your credit score. Although it doesn’t happen overnight, and it requires patience and persistence, you can follow these simple steps to improve your credit score to get your life back on track.
What is a Credit Score?
Also known as a FICO score, a credit score is basically a number between 300 and 850 which grades a person’s credit history. A number is given to anyone with a social security number who has ever had credit in any form, such as a credit cards or loans.
The credit score is lower for people with bad credit and higher for those who pay on-time posses good credit. The credit score number informs lenders and creditors if you are worthy of giving credit to, and if so, what your interest rate should be. Of course, higher interest rates are paid by those with lower credit ratings.
Creditors use your credit score to determine your ability to pay your bills or your loan. Every time you make a payment (or default on a payment), it is reported to the credit bureaus. There are three credit bureaus which are keeping track of your credit scores: Experian, TransUnion, and Equifax. 
5 Tips to Improve Your FICO Score
1. Pay Bills on Time
Although this step may appear easy to most people, it is often difficult to pay bills on time if you just do not have the money when the bills are due. You must rearrange your budget to the best of your ability to ensure that your bills are paid on time. Over time, this step alone will go a long way in improving your credit rating as other creditors will see how hard you have worked to pay others on time. These efforts will translate into lower interest rates, potentially saving you thousands of dollars. 
2. Pay off Your Debt
This can be accomplished by adding a few extra dollars to each of your monthly. Just paying the minimum payment will get you nowhere fast – you must pay extra to pay down and pay off your balances. When you see your balances going down, do not be tempted to acquire new debt right away. In fact, you will find that as your balances drop, your credit score will go up.
3. Keep Your Balances Low
Once your balances are low, keep them that way! Do not make a purchase on your credit cards unless you know for sure that you will be able to pay it off at the end of your billing cycle. When you need to make an important purchase in the future, such as a house or a new car, these lenders will need to see that you have as much available credit as possible.
4. Do Not Close Old Accounts
Financial experts recommend keeping old accounts open even after they have been paid off. These accounts will show that you have available credit, which is important when creditors determine your utilization ratio. ‘Utilization ratio’ is a term used to describe the total amount of debt you have compared to the total amount of credit you have available. More available credit leads to a higher credit rating.
5. Work with Lenders When Trouble Arises
Instead of defaulting on your payments and allowing your credit rating to drop, contact your lenders if you are having a problem making your payments. In many cases they will work with you to arrange an alternate payment plan. This shows a good faith effort on your part and will encourage your lender to help you work through your financial situation, even if only as a short-term solution.

Monday Morning Real Estate Market Update 09/01/2008

by Rob Zwemmer

Good Monday Morning, and Happy Labor day

Labor Day: How it Came About; What it Means

Labor Day, the first Monday in September, is a creation of the labor movement and is dedicated to the social and economic achievements of American workers. It constitutes a yearly national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country.

The first Labor Day holiday was celebrated on Tuesday, September 5, 1882, in New York City, in accordance with the plans of the Central Labor Union. The Central Labor Union held its second Labor Day holiday just a year later, on September 5, 1883.

With the summer coming to an end, we are getting ready for a new season here in the desert. I am ecpecting that the returning snowbirds and investors will buy up the remaining "Bargains" Inventory. As I mentioned last week Inventory is currently on a 2 year low and the average days on market (CDOM) has dropped from 115 days to 85 days. What does that mean ?  less inventory and properties are selling faster.

To have direct access to these properties:

If you are considering the sale of your home you can receive an e-mail analysis that will  give you a good indication of your homes current market value at

Mortgage Market update!

First, the Preliminary 2nd Quarter reading for Gross Domestic Product far exceeded expectations,
which has boosted Stocks and is putting pressure on Bonds. Second, there was an auction of
5-Year Treasury Notes today, but didn’t impact pricing.

Mortgage bonds are still testing levels of resistance.  Interest rates are at their lowest in the last 4 months!
and I am expecting they will stay like that till November ! I recommend carefully floating for now to see if pricing
can get any better, but for new deals I am keep a close eye on.

This is the last week for the NEHEMIAH and Down Payment Assistance programs (DAP)!
At the end of September, as you know, the DAP will be going away, yet we have until September 5th to
get the deals accepted and opened


1 Canadian dollar = 0.955475 U.S. dollars (08/23/2008)

1 Canadian dollar = 0.947149 U.S. dollars (09/01/2008)


Have An Awesome Week!

Rob Zwemmer


by Rob Zwemmer



"You've failed many times, although you may not remember.
You fell down the first time you tried to walk.
You almost drowned the first time you tried to swim, didn't you?
Did you hit the ball the first time you swung a bat?
Heavy hitters, the ones who hit the most home runs, also strike out a lot. R.H. Macy failed seven times before his store in New York caught on.
English novelist John Creasey got 753 rejection slips
before he published 564 books.
Babe Ruth struck out 1,330 times, but he also hit 714 home runs.
Don't worry about failure.
Worry about the chances you miss when you don't even try."

~ Full-page ad published in the
Wall Street Journal by United Technologies


There's a wonderful story in "Chicken Soup For The Soul" about a 4th grade teacher and a funeral. The teacher had her students fill a sheet of notebook paper with all the things they couldn't do. They wrote furiously for quite a while filling their paper with "I can't do ten push-ups," or "I can't kick the soccer ball past second base," or "I can't get Debbie to like me."

The students were then instructed to fold their papers and place them into a shoebox at the front of the room. The teacher then tucked the box under her arm, and invited the students to follow her out into the playground. There, they each took a turn at the shovel and dug a hole four feet deep. The box was placed in the hole and quickly covered with dirt.

The students then held hands while the instructor delivered a eulogy in memory of "I can't." In it, she noted that "I can't" was survived by his brothers and sister, "I can," "I will," and "I'm going to right away."

"I can't" is a close relative to most of us, yet maybe with a little extra effort we can finally let him go. It won't be easy since he's been such a close relation, yet maybe by dwelling on his brothers and sister and their importance to us - we can!

Remember the unforgettable line from "The Little Engine That Could"? "I think I can - I THINK I can! I THINK I CAN!" Don't forget the last line of our quote for the day. "Worry about the chances you'll miss when you don't even try!"

Displaying blog entries 1-7 of 7