Cheryl Ashurst

Mortgage bond prices fell last week pushing mortgage interest rates higher. The Treasury auctions were mixed with the 3 and 10-year auctions showing decent foreign demand. Unfortunately the 30-year auction was a huge disappointment and caused mortgage interest rates to worsen Thursday. The fear of future rate hikes sent mortgage bonds lower Friday pushing mortgage interest rates higher. For the week, interest rates rose by about 1/2 of a discount point.The consumer price index will be the most important release this week. Any signs of inflation will generally not bode well for mortgage bonds. Retail sales and the Fed minutes are also likely to factor into trading this week. Any surprises may lead to mortgage interest rate volatility.LOOKING AHEAD Economic Indicator Release Date & Time Consensus Estimate Analysis Retail Sales Wednesday, Oct. 14, 8:30 am, et Down 2.0% Important. A measure of consumer demand. Weakness may lead to lower mortgage rates. Business Inventories Wednesday, Oct. 14, 10:00 am, et Down 0.8% Low importance. An indication of stored-up capacity. A significantly larger increase may lead to lower rates. Fed Minutes Wednesday, Oct. 14, 2:00 pm, et None Important. Details of the last Fed meeting will be thoroughly analyzed. Consumer Price Index Thursday, Oct. 15, 8:30 am, et Up 0.2%, Core up 0.1% Important. A measure of inflation at the consumer level. Lower figures may lead to lower rates. Philadelphia Fed Survey Thursday, Oct. 15, 10:00 am, et None Moderately important. A survey of business conditions in the Northeast. Weakness may lead to lower rates. Industrial Production Friday, Oct. 16, 9:15 am, et Up 0.1% Important. A measure of manufacturing sector strength. Weakness may lead to lower rates. Capacity Utilization Friday, Oct. 16, 9:15 am, et 69.7% Important. A figure above 85% is viewed as inflationary. Weakness may lead to lower rates. U of Michigan Consumer Sentiment Friday, Oct. 16, 10:00 am, et 73.5 Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates. Tax Credit A slew of professionals tied to the housing sector made eager pleas to Congress last week requesting the $8000 first time homebuyer tax credit be extended. The benefit was part of the stimulus plan and is set to expire the end of November. The White House indicated the program "helped the economy" and led to "quite a bit of success" and noted consideration of extending the program. There are additional proposals in the Senate to not only extend the program but also to increase the tax credit and remove the first time homebuyer qualification. Unfortunately the cost to extend the credit is around $1 billion per month. This has politicians from both sides of the isle concerned. The House voted Thursday to extend the credit for American service members another 12 months. Both parties have members pushing for the extension to apply to all purchasers. Analysts indicate some sort of extension is very likely. Last week was a great example of the danger of thinking rates would always improve. The good news is that despite last week's bounce higher, rates still remain historically favorable. Copyright 2009. All Rights Reserved. Mortgage Market Information Services, Inc. www.ratelink.com The information contained herein is believed to be accurate, however no representation or warranties are written or implied.

Cheryl Ashurst, Realor and Betty Cannon, Realtor
334-323-1124 or Toll Free 800-475-2243 ext 124
Certified Residential Specialist (CRS)
Helping You Move Team with RE/MAX of Montgomery

As we enter the height of the Atlantic Hurricane season, the U.S. Small Business Administration is reminding small businesses, homeowners and renters nationwide to write down their emergency preparedness plan before disaster hits. Regardless of where you live, it's a good idea to be ready for any kind of crisis.

"Every threat, from wind storms, floods and wildfires, to power outages and computer system failures, reminds us to be proactive when it comes to building strategies to survive a disaster and recover quickly," said SBA Administrator Karen G. Mills. "The catastrophic events of the last few years demonstrate the need for preparedness at the individual level, to diminish the risk to life and property."

In the aftermath of last year's Midwest Floods, and Hurricanes Gustav and Ike-which pounded parts of Louisiana, Mississippi and Texas last summer-the SBA approved more than 23,000 disaster loans for a total of $1.2 billion.

Disaster preparedness for homes and businesses should include:

- A solid emergency response plan. Find evacuation routes from your home or business and establish meeting places. Make sure everyone understands the plan beforehand. Keep emergency phone numbers handy. Business owners should designate a contact person to communicate with other employees, customers and vendors. Ask an out-of-state friend or family member to be your "post-disaster" point of contact-a person to call to provide information on your safety and whereabouts.

- Adequate insurance. Disaster preparedness begins with having adequate insurance coverage-at least enough to rebuild your home or business. Homeowners and business owners should review their policies to see what is not covered. Businesses should consider "business interruption insurance," which helps cover operating costs during the post-disaster shutdown period. Flood insurance is essential. To find out more about the National Flood Insurance Program, visit www.floodsmart.gov.

- Making copies of important records. It's a good idea to back up vital records and information saved on computer hard drives, and store those items at a distant offsite location. Computer data should be backed up routinely. Copies of important documents and CDs should be kept in fire-proof safe deposit boxes.

- A "Disaster Survival Kit." The kit should include a flashlight, a portable radio, extra batteries, a first-aid kit, non-perishable packaged and canned food, bottled water, a basic tool kit, plastic bags, cash, and a disposable camera to take pictures of the property damage after the storm. For more preparedness tips for businesses, homeowners and renters, visit www.sba.gov/disasterassistance

Cheryl Ashurst, Realtor
334-323-1124 or Toll Free 800-475-2243 ext 124
Certified Residential Specialist (CRS) & Broker Associate
Helping You Move Team with RE/MAX of Montgomery

Article printed from RISMedia: http://rismedia.com

Real Estate Advisor: November Strengthening Your Personal Finances: Some Guidelines 1) Review Your Credit History Many of us never bother to check our credit score or review our credit history unless we're preparing to apply for a loan, but it doesn't hurt to examine your credit history at any time to check for potential errors. Check for any incorrect or outdated information, and dispute anything that is inaccurate. Resolving incorrect or incomplete information may take time, so it pays to address the issue directly rather than risk affecting any potential credit needs in the future. 2) Are You "In the Red"? Are you spending more money than you're earning on a monthly basis? The variety and ease of credit has helped many of us lose site of the bottom line. Evaluating your cash flow is the first step towards realizing stronger financial footing. 3) Create an Itemized Budget Once you've established your overall expense to income ratio, create a detailed, itemized budget of your monthly expenses if you don't already do so. When calculating expenses that can fluctuate from month to month (such as the cost of gas, groceries or energy bills) be conservative and round up. Always be honest about the expenses you see from month to month - after all, you'll only be cheating yourself on anything you "fudge". Seeing your actual expenses on paper makes it far easier to decide what is necessary and what can be cut. 4) Trim Excess Spending With your monthly budget in hand, you're now equipped to start reducing spending. Some experts will tout the need to avoid "large expenses" such as big screen TVs, new cars or big vacations. While minimizing spending splurges is obviously prudent in tougher times, it's unrealistic to think that most consumers will be able to save thousands of dollars from their monthly budget by crossing off one or two purchases (those of us who don't buy an iPod-a-month, anyway). Generally speaking, cutting spending is a more practical matter of determining what you don't really need or need as often. For example, if you typically go out to eat two times a week, consider cutting that in half. Keep an eye on your buying habits at the grocery store, which can be an easy trap for expensive, unnecessary "impulse" buys. Augment your entertainment budget by renting music and movies from your local library. The little steps you take here and there will add up to noticeable monthly savings. 5) Minimize High Interest Debt Unlike home or student loans which have lower interest rates, the high interest rates of credit cards make carrying a large balance a financial burden. Avoid carrying any sort of significant balance on a credit card whenever possible - you want to (at most) carry a balance that remains less than 25 percent of the maximum available credit limit. • Have a Payment Plan - Making only the minimum required payment is not a realistic strategy for resolving credit card debt. Instead, set a goal date for when you want your card paid off and budget out payments accordingly. If you have multiple cards, pay off the credit card with the highest interest rate first. Once the first card is paid off, roll the amount you were paying on that card into the payment plan for the next card with a balance, and so on. • Pay Attention to Changes in Interest Rates - Credit card companies are required to provide you notice of any changes in the terms of your contracts, but often consumers toss these notices tossed aside as "just more junk". Changes in the interest rate or minimum monthly payment can significantly affect both your payment plan and the urgency for paying off the balance. Make sure to always carefully review any correspondence from your credit card company. • Avoid Using Credit - Ideally, your credit card should only be used in the event of an emergency such as an expensive repair or unexpected medical expense. Avoid using your credit card for routine purchases such as groceries, gas or bills. If you're planning a vacation, save the necessary amount of money and use a debit card or traveler's checks when on the road. 6) Have an Emergency Reserve While it's not necessary to start stuffing hundred dollar bills under your mattress (the Federal Deposit Insurance Corporation now insures savings and checking accounts at banks and savings & loans for up to $250,000, making banks a perfectly safe place to store your money), having easy access to a store of liquid assets is important. Ideally a "rainy day fund" should amount to several months worth of monthly budget and should be in an accessible account (rather than tied up in a bond, line of credit, etc). 7) Invest in Your Company Retirement Account Many individuals make the basic mistake of not contributing to their employer-provided retirement account. Almost all companies who provide a retirement plan will match their employees' contributions up until a given threshold (a percent of your annual income). By not putting at least enough money into your retirement account to receive matching funds from your employer, you are essentially agreeing to leave available funds (between 3 to 5 percent of your annual pay) on the table. 8) Conserve Energy The volatility of energy markets can easily result in fluctuating utility bills that leave homeowners in the lurch. To minimize the unpredictable impact energy has on your budget, make a point of conservation: • Turn the thermostat down 2-3 degrees - A little mild discomfort will be offset by far greater energy savings. • Wear warmer clothing at home during the winter - You may prefer to roam around in your favorite t-shirt and shorts combo, but dressing the season will make it easier to scrimp on use of the heating system. Besides, the "bundled" look is in for the fall and winter months anyway. • Program your thermostat - avoid running your heating while away at work or asleep. If you don't already have a programmable thermostat, make a point of manually turning off/down the heat while away. • Save gas by combining errands - You can spend a lot of fuel money by running errands one day at a time. Instead, combine those drive-around chores whenever possible to economize gas. • Update your home's weather-stripping - Replacing cracked or worn weather-stripping around doors and windows is relatively inexpensive, and can greatly impact your home's heating efficiency. ________________________________________ o Cheryl Ashurst, Broker Associate, CRS Helping You Move Team Mailing Address RE/MAX Of Montgomery 4240 Carmichael Ct N Montgomery, AL 36106 Phone Number Office: 334-323-1124 Office Fax: 334-244-2408 Toll-Free: 800-475-2243 ext. 204 http://www.helpingyoumove.com

This was from www.daveramsey.com I was reading this today and had to share. Whether you agree with Dave Ramsey or not this really is good advice for us all!! A question from one of his radio listeners..... Dave, which bozo should I vote for in this election? Who’s going to fix the economy? Who’s going to give me the most money? Well, I’m here to remind you that you’re going to fix the economy because your personal economy is up to you. It's not Washington's job to fix what's going on with you. If you are waiting on Washington to change something, you've got a long wait! You’re going to give yourself money as a result of your hard work and persistence. Waiting for money to be taken from others and given to you is a spirit of envy, and it's wrong. I’m not here to tell you who to vote for. But I am here to tell you that the government doesn’t have the capacity to fix your problems. Washington is full of bozos, and I am doing my part to send a lot of them home! This economic mess is a reality, but we can each only control one thing—our reactions. Does this stuff define you? Only if you let it. The weird thing about the economy is that YOU are the economy! I learned this the hard way. I got my real estate license when I was 18 years old. By the time I was 21, interest rates had risen to 17% fixed-rate … and I still sold houses. How? Because I worked hard. As bad as USA Today meant a recent article to be about what we think of the suffering economy and upcoming election, I think it’s rather encouraging that no one thinks that President Bush or Barack Obama or John McCain can fix the economy! This may be the beginning of the biggest level of prosperity this nation has ever known if we don’t look to a candidate to fix our lives. How about we say, "I’m going to vote for the candidate who’s going to fix the nation. I’m going to fix my life, so leave me alone and let me do my own thing." Don't react based on fear or panic. Don’t look to Washington to fix your problems. Why would you do that? At what point did Bill Clinton fix any of your problems? At what point did he cause you to prosper? At what point did George Bush end your career or cause you to prosper? When did Ronald Reagan fix your problems? Guess what? I liked Reagan the most, and while he was in office, I hit rock bottom and filed bankruptcy—but it wasn’t Reagan’s fault. It was mine. So when you go to the polls in a few days to cast your vote, don’t get caught up in following a political party or candidate without knowing the issues they support. Do your research so you can make educated decisions. Don't sit on the sidelines.... VOTE! ……… then get back to work! Cheryl Ashurst, Broker Associate, Certified Residential Specialist RE/MAX of Montogmery,AL HelpingYouMoveTeam.com cashurst@remax.net

Thanks for all the support and comments for my first Blog. I know I said I was going to write about the Foreclosure Market here in Montgomery, AL (which is very low compared to other parts of the country). I decided to write about something more upbeat… FOOTBALL…… Down in the South we have been talking about College Football since it ended last fall!! Now I just want to get the record straight. I am an Alumni and huge fan of The Crimson Tide…. THE University of Alabama. Montgomery, AL is about 45 minutes away from our rival Auburn University and my daughter is a sophomore and attends Auburn. Yes- that’s right. We told her that we had already gone to college, attended class and graduated….. now it is her time. We are completely fine with this. We have some people look at my husband and I when we say this and respond WHAT? You are fine with this? I have to chuckle because we take our football seriously down here!! Keep it all in perspective folks!! The REAL football game is happening tonight, (August 29,2008), at The Montgomery Academy. My son, Jeffrey Ashurst #44, Junior, is playing in the season’s opener MA vs. Catholic!! He is playing linebacker and full back. You can go on our local TV station’s website to watch … technology is awesome isn’t it? My parents don’t live in Montgomery and will not be able to attend this game so I am directing them to the LIVE web cast of the game. Go to www.wsfa.com look at the top of the page and click Sports Link click Sports Web cast Have a wonderful Labor Day Weekend and pray that these Hurricanes with run out of steam! By the Way...... ROLL TIDE!! and GO MA EAGLES!! Thanks, Cheryl Cheryl Ashurst, Broker Associate, Certified Residential Specialist RE/MAX of Montogmery, AL (www.REMAX.com) Helping You Move Team (www.HelpingYouMove.com 334-224-8222 cashurst@remax.net