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Falling Unemployment Rate Leads to Higher Mortgage Rates Today.

12-04-09
Dane H. Ginsberg
Dane H. Ginsberg: Loan Officer in Baltimore, MD
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  • Office: (888) 233-0092 x438
  • Mobile: (410) 905-1942
  • Secondary: (410) 451-3438

Falling Unemployment Rate Leads to Higher Mortgage Rates Today.

This morning's jobs report is causing mortgage rates to rise, capping a week during which rates have already jumped 3/8 percent off all-time lows.

The government's report reinforced the notion that the recession is nearly over, if not over already.

Just 11,000 jobs were lost last month -- much fewer than analysts had expected -- as the Unemployment Rate fell to 10.0%.

If it seems strange to be talking economic recovery while Americans are still losing jobs -- 7.2 million since 2008 -- remember that data always needs context.

See, analysts view employment figures as for the economy. This is because business owners tend to make hiring decisions based on how business has been -- not on how it will be at some point in the future.

The jobs report rarely reflects the "right now". As an example, job loss peaked in January 2009 -- 4 months after the height of the financial crisis.

We saw the same pattern during the Recession of 2001.

According to , during the last recession, job loss peaked in October 2001 but the recession ended . It wasn't until October 2002 that employment went net positive on a monthly basis.

And this is why investors are cheering November's jobs report. Better-than-expected numbers and a falling Unemployment Rate show that the economy is improving.

Unfortunately for rate shoppers, better-than-expected data is pushing mortgage rates higher. Rates are expected to open 0.250% higher versus yesterday's close. But I would say 5.25% is certainly still a ridiculously low rate on a 30yr fixed mortgage!! Who agrees??

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Mixed Use Development in Midtown Baltimore

11-23-09
Vernon George & Tirza Chávez
Vernon George & Tirza Chávez: Real Estate Agent in Baltimore, MD
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  • Office: (443) 524-4642
  • Mobile: (301) 741-5977

A recent Baltimore Business Journal article says that a developer plans to build a mixed residential and retail development on midtown land currently owned and occupied by the 50+ year old Anderson Automotive Group. According to the proposal, the new Charles Village area development will include a Lowes hardware store and a supermarket.

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Vernon George/Tirza Chávez
Passport Realty
410.340.3038 cell
443.524.4642 direct
www.findbaltimoremdrealestate.com
www.findwashingtondcrealestate.com




Vernon George & Tirza Chávez are not responsible for the contents or reliability of any linked websites and do not necessarily endorse the views expressed within them. The listing of a link should not be taken as an endorsement of any kind. We cannot guarantee that these links will work all of the time and we have no control over the availability of linked pages.

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What recession? Who says that real estate is down?

11-19-09
Margaret Rome-- HomeRome Realty Baltimore, Md.
Margaret Rome-- HomeRome Realty Baltimore, Md.: Real Estate Agent in Baltimore, MD
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  • Mobile: (410) 530-2400

What recession? Who says that real estate is down? Penthouse condos in Baltimore are hot!

Ritz-Carlton Residences Baltimore

Ritz-Carlton Residences, Inner Harbor, Baltimore, MD

Yesterday the penthouse condominium at the Ritz-Carlton Residences on the Inner Harbor in Baltimore, MD was sold. Well, actually it was three penthouses joined together making a 4 bedroom, 6.5 baths, six balconies, and 12,000 sq. ft.

And it sold for a mere $12.6 million. It has views of the Inner Harbor, the Chesapeake Bay, and the Camden Yards sports complex, home to the Baltimore Orioles. And who bought it? None other than Baltimore native and mega-novelist Tom Clancy.

Clancy mastered the techno-thriller genre beginning with his first novel, The Hunt for Red October in 1984, and his empire has expanded to include video and board games in addition to his many best selling novels. He lives on the Eastern Shore of Maryland and will keep that home, but this Baltimore mansion-in-the-sky places him close to the Orioles where he can keep an eye on his part-ownership investment.

Mr. Clancy has also invested in his home town by funding professorships in pediatric oncology and ophthalmology at Johns Hopkins University.

Here is another Penthouse in the sky, a bit smaller, a few less balconies, a few less bedrooms and baths.

1400 Lancaster Street Exterior 1400 Lancaster Street master bath

Exterior and master bath, 1400 Lancaster Street

Now if you want to live in a luxury penthouse condo in downtown Baltimore, and you want great views, and you want sleek and modern, and you want it new, you could be the first to live in this 10th floor Penthouse condo. You would be just across the harbor from Tom Clancy. But you'd better hurry before we raise the price!

Yes, you could stand on your balcony at 1400 Lancaster Street and wave to Clancy on his balcony, and for a whole lot less money.

No, Unit 1003 does not have 12,000 sq. ft., but it can be bought for $12,000,000 (you counted right – six zeroes) less, and you can still have a top floor, very contemporary building, security, receptionist and two assigned garage parking spaces.

That's what I call a bargain! Purchased a few years ago for $¾ of million, you can have it all for a cool $½ million. Take a look…and then... give me a call 410-530-2400.

1400 Lancaster Street more views

1400 Lancaster Street Kitchen

Everywhere you turn, a great view. Slate floors, granite counters, stainless appliances.

1400 Lancaster Street view from kitchen

1400 Lancaster Street Kitchen with a view

Looking out from the kitchen, and looking in to the kitchen - beautiful in any direction.

Thanks to Mr. Clancy, penthouse condos in Baltimore are hot!

signature

www.HomeRome.com

410-530-2400

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Pat's Joke of the Week!

11-16-09
Pat Ogle & The AnnapolisHomes4You.com Team
Pat Ogle & The AnnapolisHomes4You.com Team: Real Estate Agent in Annapolis, MD
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  • Office: (410) 224-0660
  • Mobile: (443) 569-2736
Our business professor was lecturing about different ways to bill customers.

He asked, "Who can give me an example of a system where you are billed before you actually receive your goods?"

One student piped up, "Tuition!"





TOP RESIDENTIAL REAL ESTATE AGENT: LICENSED SINCE 1986

Pat Ogle, Associate Broker, CRS, DSAC, e-Pro, GRI, MCJ, REALTOR®
Certified Residential Specialist / Certified Internet Marketing Specialist
Over $73,000,000 in Settled Sales
Champion Hall of Fame
Best of the Best 2003, 2004, 2005, 2006, 2007, 2008
National Sales Award, 2003, 2004, 2005, 2006, 2007, 2008
#1 in AOL, Comcast, Google and Yahoo
#1 Relocation site for Annapolis, Anne Arundel County

Champion Realty, Inc. 711 Bestgate Road, Annapolis, MD 21401
410.224.0660 (O) 443.569.2736 (C) 410-224-0632 (F)
e-Mail PatOgle@AnnapolisHomes4You.com
Visit http://www.annapolishomes4you.com/
Blog AnnapolisHomes4You.blogspot.com


Please Don't Forget to Show Your Support for Our Troops!
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Back to the "ride out the recession" entertainment posts!

11-13-09
Brendan Cooke
Brendan Cooke: Real Estate Agent in Baltimore, MD
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  • Office: (443) 524-4660
  • Mobile: (410) 591-1683
  • Secondary: (410) 752-0005

Several months ago, I started posting local "things to do" on a budget. Highlighting free events, or at least very affordable ones. I must say, with a toddler, it's been hard to even find the time to get out and take advantage of all of the wonderful, cost effective things to do in Baltimore City....but here we go! Back to business.

WARNING...this post contains a little bit of shameless self promotion, but it is in an effort to open some eyes to a cultural gem in Little Italy, so I'll forgive myself!

Tomorrow evening, my Concert Opera company will be performing a fundraiser at the fabulous GERMANOS TRATTORIA in Baltimore's Little Italy. For $10, and a $15 food/bev minimum, you get to hear two amazing sets of operatic music, performed by our board of directors, and incredible guest artists.

Please make reservations at www.germanostrattoria.com, and be sure to tell them that you are coming for the Baltimore Concert Opera Company!

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