2010 Rhode Island RV & Camping Show. - 02/27/10 02:18 PM
2010 Rhode Island RV & Camping Show.
I was able to go to this event this weekend and was impressed with how much inventory the dealers were able to bring in. Unit wise, there definitely appeared to be more this show than the past several shows. The turnout of people coming in also seemed to be much bigger than the most recent shows.
I know the RV industry has taken a beaten but towards the end of last year, many manufactures had to stat hiring skilled workers to fill the increase in orders. Even though the latest consumer confidence figures show … (1 comments)

New Credit Card Statements. - 02/26/10 02:25 PM
New Credit Card Statements.
I've seen a few credit card statements that now reflect the new regulations and guidelines. I am very impressed with the new box that digs into the payment information. Having the term displayed alongside minimum payment is powerful. This may make some consumers sick and look for ways to pay down their debt in a quicker and smarter way. 
A debt consolidation refinance or home equity line of credit may do the trick. Lower your payments get on a fixed term and depending on your circumstances, grab a tax deduction.
If you are in Massachusetts or Rhode … (0 comments)

Friday's Market Wrap Up: - 02/26/10 02:15 PM
Friday's Market Wrap Up:
What a week this was. We had some significant numbers come out and most of the figures relating to the economy and house sales wasn't very exciting.
Even though the stars, the moon and the sun have all lined up for us, most people are simply too scared to take on a big purchase right now. Several retailers are enjoying some health sales figures but the consumer confidence figure stands at 46 this month, the previous month was slightly less than 57, so we had a considerable decline in confidence. Economists want to see this number at … (0 comments)

January's New Home Sales. - 02/24/10 11:43 AM
January's New Home Sales. 
Not very exciting numbers today, especially in the Northeast where the annual sales number dropped 35%.
The overall national figure fell to it lowest recorded level.
There is clearly a cause and effect relationship here especially with the Consumer Confidence number coming out yesterday and sitting at a figure that was lower than analysts had expected. 
Even though some retailers, mostly department stores have showed an increase in both traffic and profit, most consumers are staying away from big ticket items.
If you've got the cash, now might be the time to explore purchasing an investment property … (0 comments)

My House is Worth Less Than I owe. - 02/23/10 12:46 PM
My House is Worth Less Than I owe. 
If this is a statement that rings true to your current situation and in the past has been the main reason you could not refinance, there are programs today designed to offer some help. 
Not everyone qualifies and there still is an approval process but if you've got a current rate at 6% or higher, lowering your mortgage payment may still be possible. 
I started ringing the bell on two of these programs last September and I am still speaking with clients (as early as yesterday) who have been turned away elsewhere simply because … (2 comments)

Consumer Confidence Board Released February's Index Today. - 02/23/10 10:00 AM
Consumer Confidence Board Released February's Index Today.
The index dropped significantly this month.
Last month the figure was just under 57. The new consumer confidence index stands at 46. This news is drastic enough to apply some downward pressure on interest rates.
Several retailers reported better than expected earnings. Consumer confidence may be in the toilet, but many people are still spending.
Some companies that enjoyed higher earnings last month. Target, The Home Depot, Macy's and Sears. 
It's nice to see Sears hanging in there. They've had a tough go at it and I thought this company might be a dead … (0 comments)

Local Applebee's marketing gone right. - 02/22/10 10:42 AM
Local Applebee's marketing (and advertisement) gone right. 
Two weeks ago my family and I had to run some errands in Seekonk. When we were finished and heading home for dinner, my wife had noticed the words "Thursday is Family Night at Applebee's" painted on the restaurants windows. 
It was Thursday night, time for dinner, with had the kids with us and my wife enjoys going out to eat. 
Even though we had had everything at home defrosted and ready to go for dinner that night, she convinced me to turn around.
That night the kids were treated to balloons, the kind … (3 comments)

February 22nd Market News. - 02/22/10 09:47 AM
The rate lock suggestion I subscribe to has now been issuing a warning to lock rates for a week now and advising this for anyone expecting to close in the next 90 days. A notable warning that should grab your attention. 
For quite some time now there has been a figurative party going on as existing homeowners have refinanced, gotten a lower rate and saved money with their mortgage payments. Definitely worth celebrating!
If you are either in Rhode Island or Massachusetts, don't get too upset, I've been inviting everyone to this party for months now. I can be reached directly … (0 comments)

Clam Cakes and Chowder. - 02/21/10 03:53 PM
Here is one of my recent Facebook status updates.
"Davenports took my order and then called back to let me know they have no clam cakes today. I called Chelo's and started my order with 12 clam cakes. I was told that they only sell the clam cakes as a dozen or half dozen... I asked how many were in a dozen and the girl said "like 14"..."  
This got a good laugh.
I was amazed, almost shocked when I was placing my order. My nature is to call people out or inquire further in situations like this. However, given the … (0 comments)

Is The Wave of Foreclosures Slowing? - 02/19/10 12:58 PM
Is The Wave of Foreclosures Slowing? 
Recent figures from a National Delinquency Survey show that during the last 3 months of 2009 30 day mortgage delinquencies had a small decrease. The previous figure was a delinquency rate of 9.64% and it is now at 9.47%.
Even though this is a marginally small decrease, why this number is significant is because this time of year usually shows a slight tick upwards due to holidays and higher home heating bills. 
Yes, it appears that the high wave of foreclosures is slowing. With fewer homeowners going delinquent along with lenders holding off on actually … (0 comments)

Hickory Dickory Dock. - 02/19/10 08:45 AM
For a while now I've been sounding the alarm of an inevitable rate increase this year. The frequency in which I send out this warning is also increasing. 
I haven't hit the panic button yet but this morning I was thinking about the S.O.S I've been sending out to existing and potential home owners. I also thought about the stories of Chicken Little when he cried out that the sky was falling. The story of the little boy who cried wolf occurred to me as well.
Has my repeated message put me in the category of one of these characters? Am … (0 comments)

The Fed Surprises Investors with an Interest Rate Increase. - 02/19/10 07:38 AM
A step towards tighter monetary policy occurred last night when the Fed raised the interest rate it charges banks for emergency loans a quarter point in the discount rate bringing it to .75%.
This news may have more of an impact on the stock markets as investors begin to try and read into this action. The mortgage bond market may not be affected by this news alone and the 30 year fixed note rate should remain under 5% today.
For homeowners thinking about replacing an existing mortgage. This could be interpreted as a clear sign that other rates that have a direct … (2 comments)

Market Update: 30 year fixed rates below 5%. - 02/18/10 01:54 PM
Market Update.: 30 year fixed rates below 5%.
Multiple news agencies are reporting today that the average rate on a 30 year fixed mortgage has dropped below 5%. The average rate based off of last weeks locks/closings is 4.93%.
On the application side of things, applications actually dipped by 2.1% last week. I think this may have been caused by news of increasing rates, widely reported on February 4th, and this news may have cooled some interest in homeowners replacing an existing mortgage.
With rates seeing some temporary downward pressure, application numbers this week and next week may show an increase.
… (0 comments)

VicMir Heating & Air Conditioning. - 02/17/10 02:00 PM
I've never posted an unsolicited recommendation on my blog. This is will be my first and I do it for a company I highly recommend.
I had a new furnace installed two years ago and after shopping a few different companies I ended up going with Vicmir Heating & Air Conditioning out of East Providence RI.
This was a local (to me) company that is family owned and operated. Vic didn't offer up the cheapest quote or the highest but after a few "midnight emergencies" I am very happy I chose Vicmir.
The installation was done professionally and without a mess. … (0 comments)

Pending Stop & Shop Union Strike. - 02/16/10 02:46 PM
Pending Stop & Shop Union Strike.
Through some work that I do on the weekends with a local snack vendor, I've gotten to know many employees of grocery stores and markets in the southern New England area.
The contract with the union employees is about to expire. I believe it ends this Saturday, February 20th and from what I am seeing the potential for a full blown strike seems very realistic.
I don't work for these stores and don't know the whole story. Given the current state of our economy, I still get a little surprised when I read about or … (0 comments)

Professionally speaking, if you’re considering refinancing it's time to get your rear in gear. - 02/16/10 01:57 PM
This is another "Stop Dragging your Feet post". 
On March 31st, the 1.3 trillion that the Fed has dumped into the housing market comes to an end.
Two things are certain to happen. 
Mortgage rates will rise. If you're considering a refinance, today is a great day to apply to replace your current mortgage. Rates are still at historic lows. 
I predict that home values may slide back a bit. With higher rates approaching soon, the buyer's dollar will not stretch as far and this weakened spending power will be very clear with lower offers and also evident in the eventual … (0 comments)

Reverse Mortgages soon to be available through my Branch. - 02/16/10 01:28 PM
I've decided to add reverse mortgages to our existing menu pf products. Up until recently there hadn't been many inquiries about this product but there now seems to be some growing interest and we are hearing more questions and talk about this product.
I plan on having my branch offically accepting reverse moritgae applciation on Monday March 1st.
Jason
… (0 comments)

Do-it-Yourself jobs around the house with some how to assistance from Youtube. - 02/14/10 07:45 PM
Just a quick little note here.
I had a rare lazy Saturday this weekend. It didn't take long before I got restless looking for something to do. I had a couple of bi-folding doors that needed to be repaired and rehung. Closet doors have never been much fun for me. I wondered if YouTube had and how to video's and sure enough I found one compliments of Lowes. There were many others and I noticed that basically any home repair topic was covered. Definitely useful.
As for the doors, the two I worked on are up and running smoothly on their … (1 comments)

Wanting something so bad that you cry when you don't get it and if you get it, you still cry. - 02/10/10 01:13 PM
Wanting something so bad that you cry when you don't get it and if you get it, you still cry. 
While watching American Idol last night I watched some of the kids who had come as far as they could go break down and cry as they learned the news that they were going home. This flood of emotion was understandable because for many of these kids a dream probably was ending. As I watched the show, I began to think about this past weekends Superbowl and the image of Drew Brees with his son while they awaited the stage to … (1 comments)

Operation Snowball. - 02/10/10 01:00 PM
Operation Snowball.
This current generation of school kids has it easy with snow days. A few decades ago, I can remember going to bed the night before an impending snow storm and waking up early to turn on the radio and listen for the cancelations. In Rhode Island, we turned to Salty Brine with 630 WPRO on the am dial. Operation Snowball. Salty would call off the towns and cities that had closings and waiting to hear your schools name get called was like holding your raffle ticket and waiting for your number to be called to get your prize of … (1 comments)

It's January and Wal-Mart has put out their inventory of lawnmowers... - 02/03/10 02:40 PM
It's January and Wal-Mart has put out their inventory of lawnmowers...
I was at Wal-Mart over the weekend and I often enter and leave through the garden/seasonal area. I was somewhat surprised to see that they had a whole row of lawn mowers lined up and ready to be purchased. They weren't marked down clearance leftovers; they were straight up at regular price and ready for sale.
Planning so far in advance is nothing extraordinarily new with these big chain department stores. I can remember in the fall seeing Christmas inventory out for sale and we hadn't even had Halloween yet.
It just … (3 comments)

This Valentines Day, Fall in Love with Your House all Over Again. - 02/03/10 02:17 PM
This Valentines Day, fall in love with your house all over again.
That is what has happened in my house. And re igniting this love affair was easy. 
We brought some new life into my son's room by adding a fresh coat of paint and trim. We also had a new carpet installed yesterday. After all the fixings were done, light switch and socket covers, new curtains and wall pictures, both my wife and me were blown away with how good the room looked. We also had some new carpet laid in a hallway and nothing major here but things are … (1 comments)

Mixed news coming from the latest quarterly surveying by the Fed. - 02/01/10 02:46 PM
Mixed news coming from the latest quarterly surveying by the Fed.
Most banks and lenders have stopped imposing tougher underwriting guidelines. At times last year it almost seemed we were getting notified daily of higher credit score requirements or reduced loan to values on many different property types. The good news here is that the standards lenders are looking for from mortgage loan applicants is hitting a plateau. The lenders still want the high quality application and at least we have a moment to settle in on the guidelines.
What stinks is that the guidelines haven't really relaxed and most lenders … (0 comments)

Showing Up. - 02/01/10 02:19 PM
Showing Up.
Here is a short story about the importance of doing what you say you are going to do and also about simply showing up.
This story used to be told by one of my former employers who owned a very nice yacht. One day while docked in his boat, another boat pulled alongside and docked. This second boat was beautiful and was quite larger than the former, the two boat owners got to talking and the first boat owner asked the second one what he did for a living. The man responded I paint houses.
This surprised the first gentleman; … (0 comments)

Knowing the difference and importance of your business's urgent matters and important activities. - 02/01/10 01:54 PM
When you are paid for your talent and not your time, a focus on your professional activities becomes very important.
To truly increase what you earn per hour and free up as much time as possible for other interests, what becomes important is not the time you spend in the office or at work but more importantly how you spend that time...
Taking a moment during your day to ask yourself (and to be honest with yourself), have you been working with a sense or purpose and urgency. Do you have a plan and are you following that plan. It is … (0 comments)

 
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Jason Potrzeba~ Commercial Loan Officer ~ RI

East Providence, RI

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Acadia Advisory Group LLC

Address: East Providence, RI, 02915

Cell Phone: (401) 580-7612

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