What Does It Mean to the Consumer When the Fed Cuts Interest Rates? - 10/29/08 11:06 PM

The Federal Reserve again lowered a key interest rate by .5% to 1%. This interest rate is called the “federal funds rate” which is the interest banks charge each other on overnight loans. From an historical perspective, this rate has not been lower since 1958 and represents an aggressive move by the Fed to restore confidence in the market and stimulate banks to make loans.
But here’s an important question: What impact does this interest rate cut have on the consumer’s mortgage rates, credit card interest or other loans? Does a reduction in this rate matter? Will home owners in Seattle, Kenmore or New York City … (0 comments)

Mr. Freeze the Financial Crumudgeon: One Angry Honcho! - 10/27/08 12:28 PM

In a former life, I was Mr. Freeze. I'm not kidding. I was a licensed bill collector in 50 states and my pseudonym was Mr. Richard Freeze. I was in the Credit Industry for many years and I worked both sides of the business. I collected and I also educated the public on sane money management. Before Mr. Freeze went "underground" he also worked for Consumer Credit Counseling Service which was one of the best jobs ever. I became the Financial Curmudgeon because, for so many years, I observed how most Americans get themselves into financial trouble: simply put, they … (0 comments)

100 Top Tools for Learning: Keeping Up in a World Full of Information - 10/20/08 05:38 PM

How are you dealing with all of the technological changes in your life? Let's face it, iPods, computers, telecommunication technology and other tools have literally transformed our world. I don't know about you in your career but as a Realtor (c) it's incredibly important that I keep up with a MASSIVE amount of information. I must also adapt to new communication technology (phone and computer) and I need to distill all of this "stuff" into a coherent package (or toolkit) that I can use to be effective in my work as a real estate agent. This very blog is the result of … (0 comments)

Are You Millionaire Material? Take the test! - 10/15/08 04:45 PM

King 5 News is a large, local news dynasty in Seattle, WA. Today they published an interesting link to an on-line test for would-be millionaires. The test was developed by Jeff Lehman, author of the book: The Frugal Millionaires.For those of you who would like to know if you're  "millionaire" material just click the picture below and take the test:

This is a fun test. Nothing too heavy-duty, but after you've beaten yourself up, it would be great to administer it to your spouse or children. Use it as a "teaching moment." For many years I gave money management & Credit seminars to high school students and … (0 comments)

Redfin Lays-Off 20% of its Workforce - Tough Economic Times - 10/14/08 05:51 PM

Redfin began it's adventure into the Real Estate world in 2004 which was a very different time than today: home sales were easy; everyone had a real estate license or was a loan officer; houses were selling quickly and an irrational exuberance permeated the world. Then Redfin came along with some new ideas about working with clients (buyers and sellers) and this model was an immediate hit with some of the public. Obviously, Redfin had found a need and filled it. Good job! Yes, and the media rewarded Redfin's CEO, Glenn Kelman, with interviews, print articles and a wonderfully provocative spot on … (0 comments)

Sanity At Last: A Reputable Brokerage Calls It Like It Is - 10/12/08 10:05 PM

The ad above appeared in the Northwest Magazine insert of the Seattle Times today. Geoff Wood, the CEO of Windermere Real Estate has exerpted the words of his agent Leanne Finlay who wrote these timely words in her blog. The message: TAKE YOUR HOME OFF THE MARKET! When I read this, I almost dropped my coffee in my lap! Finally, a reputable real estate company coming clean and telling the truth: The market doesn't need more overpriced houses. Sellers, revisit your priorities and do the right thing. Stay put for the time being. After all, didn't you buy your home to enjoy? In my post yesterday , I suggested that both the real … (0 comments)

Required Listening: This American Life's "The Giant Pool of Money" - 10/10/08 10:45 PM

I finally had an opportunity to listen to This American Life's program entitled: "Giant Pool of Money." My friends, this should be required listening BY ALL AMERICANS. It is  the most articulate explanations of this complex situation I've found. This program brings the listener right into the heads of the brokers, sales people and banks that are at the root of our current situation. Just click on the picture below...........enjoy.....

… (0 comments)

Reality Check: A Short, Sharp Analysis of the Kenmore Market - 10/10/08 07:17 PM

Here in the Pacific Northwest, in spite of what the media proclaims, we are experiencing a serious slump in housing sales. I like the picture above as it's emblematic of what the sellers and the real estate agents need to do: they all need a serious brain scan. As a Realtor (c), I spend a lot of time pondering the market to discover the best way to solve my clients' challenges. After taking a few moments to look at the current market in Kenmore (my home town) I'm convinced that the same old process of selling one's home (e.g. hang a sign in … (0 comments)

The Future Is Not What It Used To Be - 10/08/08 07:13 PM

Picture by Isobel T
Most of us have heard of the 16th Centur Pahrmacist/seer Nostradamus who has been credited with the prediction of wars, Hitler, natural disasters, etc.. Unfortunately, or fortunately, he didn't have much to say about the current world financial crisis. One reason is that they didn't have the complex financial systems of today (can you say credit swap?) My point is that it's in our nature to try and make sense of the the trouble we find ourselves in. So who do we turn to for an opinion about the future of Real Estate? Who has the … (0 comments)

 

James Lupori, Associate Broker Keller Williams Realty - 206.713.2102

Kenmore, WA

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Keller Williams Greater Seattle

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