Bailout = More Debt = Higher Mortgage RatesSo much for the calm. Yesterday’s stock market plunge was the biggest, in percentage terms, since 1987. As financial institutions, investors, and government officials alike take stock of events — and what’s likely to happen next — one quick consequence has been a spike in mortgage interest rates....Read More
In the ICU, Signs Weak But Stable The relative calm currently afoot in the financial markets is exactly what you’d expect after major surgery: the financial system just underwent an emergency heart transplant (the Paulson artificial heart — model A4-271). That’s effectively what Congress’ $700 billion bailout of Wall Street just turned into. Instead of...Read More
Playing By Their Own Rules As forecast earlier, the mother of all market melt-down’s is likely to eventually to turn into the mother of all lawsuits. Already, it is possible to glimpse what the heads of AIG, Lehman Bros., Washington Mutual, etc. are likely to say in their defense: “we complied with all applicable rules...Read More
Textbook Staging + Great Marketing= Quick Sale The real estate section in today’s (Saturday) Star Tribune features my new listing at 3840 Xerxes Ave. South, just south of Lake Calhoun in Minneapolis: “Updating, but maintaining ‘Frank and Dino’ Vibe” (Star Tribune; 10/11/08). http://www.startribune.com/homes/sell/30685974.html?elr=KArksLckDiUvckDiUiD3aPc:_Yyc:aULPQL7PQLanchO7DiU The article discusses what my stager, Lori Matzke, did to show off...Read More
“I never lose my temper — I always know where it is.” –Senator Ted Stevens (R-Alaska) Besides generally lower prices and longer market times, another hallmark of today’s housing market can be more strained negotiations between Buyers and Sellers. Sellers — especially those who bought recently — are often dismayed to hear what their house...Read More
Wrong Doctor, Wrong Prescription? “No problem can be solved from the same level of consciousness that created it.” –Albert EinsteinImagine that your doctor, over the course of a year in which your health steadily deteriorated, misdiagnosed gallstones as an ulcer; botched an operation to repair torn knee ligaments, leaving you hobbled; and was surprised that...Read More
