“World's Most Complete Neighborpedia”
Sponsor a Community — What is Localism? | Register or Sign In
Explore:   What's happening in your neck of the woods?
Home

National Market Indicators from here in the Sedona AZ Real Estate Market

Dear All: Since we are in such hard economic times - I thought I would send this Market Focus along to you . This information was provided to me by a wonderful local lender - who is one smart cookie- Linda Rogers of First Metropolitan - 928-203-0695. I thought it would be helpful for you to see some stats about our economy. As far as the local Sedona AZ market is concerned - it continues and will continue for some time to be a great time to buy. If you are thinking of buying - let's work together to get you the best deal. I pride myself on my negotiating skills and will work diligently on your behalf. If you are a seller who needs to sell - the pricing is key to the whole transaction. There are buyer's out there - but it needs to be priced below... yes, below the market to sell. It's not going to get better anytime in the next 12 months so if you need to sell.. price it to sell. If you can hang on till 2010 - then take it off the market. If you are a seller who is facing financial ruin - please call me. I have worked with clients with short sales and foreclosures. If you would like to stay in your home - and can't make the payments - believe me - the bank will work it out with you - the last thing that they want is your home. They have plenty! Every time a bank forecloses on a property - it costs them an additional $50,000 - $75,000. You will need to show hardship - but they will work the deal. As always, I am at your service whenever you need me - please call or email me at barbara@barbarabaker.com or 928-301-0669.

Best regards,

Barbara Baker - REMAX Sedona

Monday, September 29, 2008 - 2:30 pm MST

Personal income increased 0.5% in August while consumer spending remained unchanged. Over the past year, both have increased a moderate 4.6%. Nevertheless, spending has slowed significantly, enough so that there is a potential it will decline this quarter for the first time since Q4 1991. A closely watched inflation gauge contained in this data series, the core PCE price deflator, increased 0.2% on the month and was up 2.6% on the year, somewhat elevated but moderate enough to keep inflation fears at bay.

Stocks came crashing down Monday, when the House defeated the $700 billion bailout bill, given the acronym TARP which stood for Troubled Asset Relief Program. It would be rousing if the House voted down the bill on issues like disclosure, transparency or pricing of the remaining mortgage-backed securities in question, but it was seemingly voter pressure not to rescue the banking giants that in their minds were responsible for the credit crisis anyway. It remains unclear what the next step will be. The Dow dropped 777.68 to close at 10365.45. the NASDAQ fell 199.61 to 1983.73.

MARKETS

CLOSING

CHANGE

DJIA

10365.45

-777.68

S&P500

1106.42

-106.59

RUSSELL 2000

657.72

-47.07

NASDAQ

1983.73

-199.61

SECTORS - GAINERS & LOSERS

n/a

n/a

Steel

-16.84%

Treasury prices soared Monday on speculation that the credit crisis and economy would worsen significantly from here upon the Houses failure to pass the bank-rescue plan. The flight to safety bid was robust as money flowed out of the stock market today. In late trading the 10-year note was up 1-30/32 to 103-6/32 to yield 3.61%.

SECURITY

YIELD

CHANGE

2-Year Note

1.70

-0.40

5-Year Note

2.72

-0.33

10-Year Note

3.61

-0.24

30-Year Treasury Bond

4.15

-0.22

As the growth outlook diminishes, rate cut expectations have increased. Rejection of the bank bailout bill today increases uncertainty about the resumption of credit flows, which will also weigh on growth prospects going forward. Fed funds futures traders were pricing in a 100% probability the Fed will cut by 25 basis points when they meet at the end of October, up from 50/50 odds just one week ago.

For the week ending 9/25/08

RATE

LATEST

CHANGE

FEES

30-Yr Fixed (FHLMC)

6.09

0.31

0.7

15-Yr Fixed (FHLMC)

5.77

0.42

0.6

1-Yr Adj (FHLMC)

5.16

0.13

0.5

3-Mo Libor (FNMA)

3.88

0.12

n/a

RATE

LATEST

CHANGE

Fed Funds

2.00

0.00

Prime Rate

5.00

0.00

Fed Discount

2.25

0.00

11th District COF

2.698

0.00

Posted Wednesday Oct 01

Post a comment

Temporarily disabled — coming soon!