
Summer 2010 Highlights
It’s been a volatile
year so far, nothing that—somewhat superstitiously—Chinese Astrologists haven’t
predicted already. Since February, we’ve entered into the lunar “Year of
the Tiger,” often thought to be the most tumultuous of the lunar years.
We started off with
some wild weather this year, from sizable earthquakes around the world, to
volcanic eruptions in Iceland that cost the tourism & airline industries
(the European ones in particular) billions in lost revenue, to the current
environmental disaster stemming from the BP oil platform explosion.
Though the spilling was recently capped, the final estimate of total spillage
will be several hundred million gallons.
Domestically, we
continue to work towards improving employment figures, increasing consumer
spending and augmenting the momentum of our economic recovery. However,
the government’s buy-down of interest rates and its homebuyer tax credits have
ended recently, so it remains to be seen if the housing & banking
industries are strong enough to continue recovering without more aid.
Mortgage rates, though, hover near record lows, which have surprised many real
estate market analysts, who comment that this is a huge positive for the
economy and for homeowners looking to shave some money off of their monthly
payments.
The Tiger Year may be
volatile, but it has a silver lining: the year is notable for its life-changing
opportunities. As Americans have learned to become more thrifty in recent
years, increasing personal savings levels and reducing personal debt, we will
be in good position to capitalize off of the undervalued financial and
real estate investments that will increasingly be found around us.
-Rich
APPROVED - Another Tax Credit Extension
The final
deadline for closing on first-time and move-up buyer purchases is
6/30/2010. Both houses of congress have just passed an extension to that
date, to be moved to the end of September. Due to the increased
time it’s taking to close purchases, this measure only helps pending purchases,
not new ones. If you or a friend has a pending purchase that was put
together before 5/1/2010 and qualifies for all of the first-time buyer rules,
then try to close before the end of September so that you can capitalize off of
the credit.
I am often asked if I think there will be another buyer
credit. Possibly, but I don't think so. I say possibly because if
the real estate market stalls further, new measures may need to be put in place
to inject life into it. However, the cost of the credits would be another
expense that we may not be able to afford.
Seahawks 2010 Schedule
1:15pm 9/12/2010 San Francisco 49ers FOX
1:05pm 9/19/2010 Denver Broncos FOX
1:15pm 9/26/2010 San Diego Chargers CBS
10am 10/3/2010 St. Louis Rams FOX
10am 10/17/2010 Chicago Bears FOX
1:05pm 10/24/2010 Arizona Cardinals FOX
1:15pm 10/31/2010 Oakland Raiders FOX
1:05pm 11/7/2010 New York Giants FOX
1:15pm 11/14/2010 Arizona Cardinals FOX
1:05pm 11/21/2010 New Orleans Saints FOX
1:05pm 11/28/2010 Kansas City Chiefs CBS
1:15pm 12/5/2010 Carolina Panthers FOX
1:05pm 12/12/2010 San Francisco 49ers FOX
1:05pm 12/19/2010 Atlanta Falcons FOX
10am 12/26/2010 Tampa Bay Buccaneers FOX
1:15pm 1/2/2011 St. Louis Rams FOX
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